House Buying Machine: Mitch Stephen’s Journey to Real Estate Success

Passive Wealth Strategy Show - Real Estate for Busy Pros

How can targeted text messaging transform a real estate investing business?

In this episode, host Taylor Loht interviews real estate investor Mitch Stephen, who has purchased a property every 4 to 5 days for over 30 years, averaging 100 houses per year for three decades. Stephen specializes in buying properties with other people's money at $X, and then selling those properties with seller financing at $2X. He invests his profits into forever cash flow businesses like self-storage, boat storage, open parking, semi-truck parking, and triple net office-warehouse-yard. Stephen is an entrepreneur, author, and educator with over 560 podcast episodes and 180 YouTube video shorts to his credit. He explains how he revolutionized lead generation and sales through an innovative automated phone and text messaging system that better qualifies leads before his salespeople engage. This increased efficiency, achieved faster sales and obtained higher sale prices. Stephen provides a deep dive into how the system works at each stage and key lessons learned from refining it over time.

Tune in to learn how targeted text messaging can transform your real estate investing business.

Chapters & Key Takeaways:

(00:00) Opening Segment

• Taylor introduces guest Mitch Stephen, a real estate investor who buys 100+ houses per year using other people's money
• Mitch has 30 years experience, buys 100 houses a year, ~3,000 total
• How Mithc private money to fund purchases and rehabs
• Why Mitch Focuses on cash flowing assets like storage, parking, triple net

(05:20) The Problem Mitch Needed to Solve with Texting Marketing

• How his previous system overwhelming salespeople with unqualified leads from bandit signs
• Callers often lacked funds or motivation to buy
• Salespeople couldn't handle call volume or relay correct info
• Grew FB following to get exclusive buyers for properties
• Text timeline for showings increased competition and prices
• Further automated lead vetting with tailored questions

(19:12) Hiring and Team Structure

• How Mitch hired sales first, acquisitions next, then admin
• Why he separates departments to prevent internal competition
• Mitch uses assessments to hire specific personality types

(24:41) Closing Segment:

• Why Mitch doesn't want to be involved in day-to-day operations
• Best investment ever: Semi truck parking
• Cash flowing asset with huge upside appreciation
• Worst investment ever: Raw land loans
• Defaulted loan during the recession, created years of payments
• Most important business lesson: Stay in your lane
• Focus on what you're good at instead of chasing opportunities

Connect with Mitch:

www.homes2go.net

Quotes:

"I had to solve a problem of getting overrun, not delivering the right information, maybe not even answering the phone." - Mitch Stephen

"It's the hardest thing an entrepreneur will ever do, is have one great idea and finish big" - Mitch Stephen

Apply to Invest with Taylor at www.investwithtaylor.com

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