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Welcome to entrepreneur like you business attorney and entrepreneur chance reynolds, a daily podcast that brings you the best legal tips, marketing strategies and storytelling tactics that will help you grow your business the right way.
All right, so yesterday on here I talked about using facebook groups to drum up leads by just providing like tons of value. So I practiced what I preached and I wanna show you the results or tell you the results. Um, OK. So I posted right after I got done with the podcast yesterday, I posted about 21 hours ago. I posted about five paragraphs worth of text about Cs, answering the two most common questions that I see in this real estate group. And they were, what were the questions? Do you need to do need an LLC now? Or do you wait after your first deal? And do you need multiple [inaudible]? So since the nature of real estate business is that you’re moving properties, properties can be protected by, sees it kind of in a different way than your business. And it’s really great idea that if you’re holding properties, rental properties that you put them into [inaudible] because there’s a ton of legal liability when it comes to a rental property, meaning, um, slip and falls.
Like that’s what it’s just a generic term for somebody getting injured on your piece of property. And if somebody walks on, like in a, in a grocery store, if somebody walks into a grocery store and there’s a broken pickle jar and somebody slips in the pickle juice and breaks their arm, they’re going to sue the grocery store and maybe even the pickle company, who knows. But you can bet your ass that, that the grocery store has some sort of insurance policy as the first line of defense. And then a, you know, an entity at the state level for the second line of Defense, which would be an LLC. And that’s the same thing with the rental property. Like somebody falls down the stairs. If some duplex that you owned doesn’t even have to be a tenant, they can sue you, they probably will sue you.
And you just want to make sure that you have that llc there because that will protect the house that you live in from the lawsuit, have a, somebody’s fallen down the stairs and the rental house, meaning they’re two separate entities, the rental house that is in its own llc, it’s considered it’s own business entity and it’s not necessarily owned by you, it’s owned by a business entity. So that’s, that’s the whole point. And maybe that doesn’t make any sense to someone who doesn’t know anything about real estate, but it’s pretty cool actually kind of intuitive. Um, and that’s a common question that people ask and the group, they’re just like, Hey, I’m just getting started. Don’t need to know, well see now, or do I just do deals? And like how many [inaudible] do I need? So I answered those questions and it took me all day fielding.
That’s all. That’s pretty much what I did with my whole day. So I’m, you know, stating that I believe in the 80 20 principle where eighty percent of my results are coming from 20 percent of my effort and I’ve kind of reverse engineered how I’m getting most of my deals and it’s doing exactly this. I don’t mind spending a whole day fielding questions for free for people in a facebook group that’s not even mine because I know that eighty percent of my results come from this 20 percent of my efforts and it proved true. Once again, I’m not just fielding people’s questions, but actually creating a post in the group. I after I created a gut. So many. So 77 people liked it. And then there are, oh gosh, I don’t know, 50 or 60 questions follow up questions that people asked underneath it. So I answered every single question that got asked.
Some of them I didn’t know 100 percent right off. So I had to kind of go back to my books and be like, hmm, that’s an interesting situation. Think about it, analyze it so I could give a good answer. So you take your time and do it because it’s not like you’re wasting time on facebook not working. It’s like this is lead generation and if you’re generating leads for your business, like what are you doing? Are you, are you really moving your business forward? And um, got some people on the phone, people reached out to call me, have some more people requesting to connect with me on messenger, which is just as good as getting on the phone, almost not quiet, but I’ll do a in vmd messenger voice message drop that I’ve talked about on here a million times and has, uh, led me to sales and it looks like I’m going to make about $800 off one of these deals, um, if not today on Monday.
And that’s the power of, of providing value. When you hear these gurus and people talking about provide value first and then the sales will come next that it’s a hundred percent true and don’t try to sell. You don’t need to sell on your posts. So it’s nothing that you’re giving away. Value wise is probably that original most of the time if you’re giving away something, you’re not the first, you’re not the biggest innovator. Maybe you have some personal spin on it or some little tweak, but, uh, don’t be afraid to give away that stuff to prove how valuable you are because it’s competitive and if you can’t stand out and show, show a potential client that you have something unique and that you have something valuable and that you, they should choose you over somebody else. That’s another thing that gets asked and every time I didn’t want these value drops, um, if you do it right, people won’t even realize that you sell the thing.
So they’ll just go, hey, should I just go to legal zoom? And it’s like, no, you should hire me because I’m providing you with this value. I’m show you that I’m valuable. Then that’s basically what I say. I say no, I mean I actually, what I said at this time is I just said if you want some kid to do your llc that doesn’t know anything, that’s great, but I do this and I do it for the same price as a legal zoom and you have the, you know, the, the peace of mind knowing that an attorney has done your llc and not some kid. And uh, that’s true. It’s a hundred percent true. I’m not lying about anything in these posts. So that’s another important thing. Like, just be honest, like if you don’t know something, just say that I don’t know, I defer to somebody else.
Tag somebody that you think might be able to do that, you know, understand that one issue better. Next time you do a value drop, you’ll know you’ll know the answer. So it’s, it’s works on several levels like you, you get to show your value, you get to learn what people want to know, you get all the questions. So it’s kind of like an ask campaign and then you actually can learn and kind of hone your skills. That’s one of the things I like about a lot because I’m on there all day, took by the end of the day, my hands are cramped from answering questions and that really gets me at the top of my game and realizing all the different scenarios that people are in and analyzing them upfront and rousing OK, these are the. This is the best type of structure for them because some people want some really complicated entity structures like they want a holding llc here.
They want it to be owned by Wyoming Llc and then they need an anonymity and then trusts come in and like how should you use them? And then there’s inevitably people who are going to argue with what I say, which is my favorite part of the whole thing. I talked about that yesterday because like some old school real estate coaches came in and just said, forget it all so easy. You just need trust and it’s like clear. They don’t know what the hell they’re talking about and I get to just slay them right there in front of the whole group. Just like, look, you’re a snake oil salesmen. You don’t know what you’re doing, you shouldn’t even be doing this, but I don’t do it like an asshole like that. I just take them apart, point by point, and then they try to come back and say, well, I knew that, but you don’t use [inaudible] [inaudible].
And then it becomes very clear. They don’t know. They just don’t know. So they’ve just, they’ve just bought some program from a guru that told them to use trusts and they’re just like, trusts, trust work, not realizing that trust preside, provides absolutely no asset protection whatsoever and really shouldn’t even be used for real estate in this way without, unless it’s in conjunction with an LLC. So there’s just really no reason, no reason for it. And that’s what I laid out. And uh, just destroyed two old timers that are just preying on people and since they’re older people, as soon as they know what the hell they’re doing and maybe they’ve done a hundred and 50 to 250 real estate deals, who knows? Maybe they create trust every day and they’ve worked just fine. But that doesn’t mean they’re going to continue to work because they don’t, that’s just not what they’re meant for.
They’re meant to help. Um, if you’re using it for real estate to help real estate, avoid the probate and estate planning situation, it’s an estate planning tool that is not an investment tool. So people need to understand that anyway, that’s not really. The point is, it’s awesome when people try to argue with me that provides me the biggest platform to, to establish that I’m the authority in that niche for [inaudible]. Like there’s just no question and some. But most people agree and some people are like, but, but what about this? And that’s not arguing, that’s just smart analytical thinking by a smart business person. And I like that too. And I’m like, great question. Here’s, here’s how that works, or yes, you’re right and this is how I like to do it. And you just, you, you can’t be afraid to put yourself in a position of authority and just, you know, so you provide value in that at the end.
You just say like, if there’s any questions, please answer them right, right here in this, in this post, in this group. So everyone in the, in the group can get value from it. So you put it on there, you know, don’t, don’t inbox me about these. Let’s ask these upfront so everybody can learn from the questions and of course people are going to inbox you and that’s kind of on the backside like what you want people to do and what they should do because you, if you establish yourself as credible in that space, people should want to hire you. And that’s, that’s just the fact of it. You know, they understand you’re in business and your provide something valuable and you give it to them and uh, you know, they want to reciprocate by, by throwing use of business. So anyway, it was a crazy day.
I wake up to, you know, a lot more comments on there and I’m going to spend, if it takes me all day answering questions again, today I will be a day well spent because it’s lead generation. It’s like running ads. If you spent all day on facebook ads because that’s how you got your leads, uh, you wouldn’t feel like you wasted the day and you shouldn’t feel like you wasted the day if you’re just like responding to comments on, uh, on a value value posts that you make. So anyway, it’s Friday. Have a great weekend. I will talk to you guys on Monday.
Hey guys, thank you so much for listening. I really, really appreciate everybody tuning in and all the great feedback I’m getting about the podcast. So I’m going to keep it up and I just wanted to say thank you. Also if you want to figure out the three ways that most entrepreneurs are getting themselves sued, you can head over to llc freedom.com/get sued. I have a little freebie there that kind of outlines the three major ways that people are getting sued and how they can easily be avoided. So hop over to llc freedom dot [inaudible] slash gets sued and pick that up today.