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Kosta: On this episode, I’m talking with Adnan Feroz, a realtor from Toronto. Not solely is Adnan and award profitable realtor, he’s additionally an investor, a speaker, and a Canadian and greatest promoting writer of a ebook titled Past Riches With Revenue Properties: The 90/90 Technique. We’re moving into all of that and an entire lot extra, and this was a really insightful dialog, a variety of worth packed into this episode. I actually loved talking with Adnan. So with out additional ado, right here’s our chat.
Kosta: So Adnan, thanks a lot for becoming a member of me on the Top Agent podcast. Actually recognize your time. Thanks. It’s a pleasure to be right here. Superb. So, so that you, you have got a reasonably lengthy record of credentials right here. You’re a Canadian bestselling writer of a guide referred to as Past Riches with Revenue Properties, the 90/90 Technique, You’re a speaker you’ve carried out over 25 million in transactions over the previous few years and award profitable realtor. So undoubtedly loads of accomplishments and rather a lot, you understand, I’d wish to get into there, however. All proper, why don’t you begin issues off by simply telling your viewers a bit about your self, your background and the way you bought into actual property
Adnan: For positive. I truly grew up in Scarborough after which I moved to Ajax Pickering. So I’m, I’m, I’m native to Toronto, have grown up right here. I went to U of T enterprise faculty, um, and I contemplate myself to be a serial entrepreneur as a result of, um, I wish to get into a whole lot of totally different companies and I feel actual property was the primary enterprise that I entered and obtained into, um, after ending up the varsity and uh, having some work expertise. So, not all the time, it was the plan to get into enterprise and do one thing to assist the group, assist the individuals which might be round. Um, I’ve been in actual property for 9 years now. I focus on funding properties. we additionally train individuals the right way to construct houses to maximise their funding. Uh, in fact I wrote the e-book on past versus inside revenue properties as a result of I felt that, um, that, that was an business that wanted to be talked about and so many individuals exit and do flips and do properties like that.
Adnan: So we speak about that. Uh, I talked to numerous college students who’re in universities about what they need to do with their funds and the way they need to work with that. Um, as a result of I feel that’s one factor that I really feel is lacking from our business. Uh, and lots of people don’t train the scholars and youngsters easy methods to handle their funds. Um, so we undoubtedly do this. Um, so I obtained into actual property. I’m believing in all of this stuff that I stated that, you recognize, what, uh, I feel I can contribute and make a distinction, uh, when it comes to that, um, I’m additionally married to a ravishing woman and she or he’s additionally my enterprise associate now. She helps me round with that. I’m surrounded with nice household and pals who’re all the time inspiring me to do nice issues. And um, that’s what provides me the eagerness and motivation to exit and do this stuff.
Kosta: That’s unimaginable. Thanks a lot for sharing that. And I completely agree with, you realize, the truth that you’re proper, education the varsity system doesn’t train monetary literacy like in any way. I feel that’s actually good that you simply’re doing that. Let’s begin together with your ebook Past Riches. Richard’s with revenue properties. The 90/90 Technique. Uh, congratulations on that by the best way. Greatest promoting, truthfully. That’s completely unimaginable. So inform me extra concerning the e-book. I like what’s it about, what’s the premise and most significantly like what’s the 90, 90 technique?
Adnan: So the ebook identifies a selected sector of the market the place we flip properties. It’s targeted in the direction of the Toronto actual property. However it may be utilized to any kind of market that’s densely populated. Uh, it exhibits you how one can make $90,000 in 90 days utilizing the flip mannequin, we now have very particular algorithm that folks comply with. You train them the right way to undergo them, what to do, um, it walks you thru the entire mindset of what it is best to have earlier than moving into it. It additionally teaches you and tackles a whole lot of fears that folks face whereas they’re doing flips. So, uh, earlier than moving into that, a variety of our shoppers and people who find themselves studying it have by no means achieved one. So, uh, it is rather necessary to deal with that beforehand. So all of this falls inside the mindset class. After which we go onto analyzing behaviors and tendencies which are widespread in that market.
Adnan: After which we’ll work with that the place we train you what to do and what to not do, what sort of renovations do you have to be doing, what you shouldn’t be doing, how you ought to be working with numbers, what you ought to be evaluating. So it goes by way of the entire means of every part. However on the finish of the day, it teaches you methods to make that $90,000 in 90 days after which it tells you and exhibits you tips on how to scale that and learn how to work in your million greenback plan the place you are able to do a number of properties in a yr to develop our enterprise based mostly on that.
Kosta: That’s superior. What number of success tales do you’ve gotten from individuals or buyers, I assume, who adopted the 90, 90? Or is that this one thing you’ve executed your self and also you kind of, uh, you realize, created this mannequin based mostly on experiences?
Adnan: Completely. I’ve finished it myself as nicely and we’ve got so many various shoppers that we’re working with regularly on a day by day factor. So commonly it retains on working. We simply had three shoppers final week that had began their first property they usually’re engaged on that. We’ve got had people who find themselves working within the banking business after which they began doing their first funding property. They adopted the entire steps after which there’s design they usually give up their job they usually began engaged on this. So, uh, however we have now had so many various individuals which are in several industries that come onto this after which they carry on doing that. We’ve been doing this for nearly 40 years now when it comes to revenue properties and the common investments we have been doing it from earlier than.
Kosta: That’s superior. Would you say it’s an easy learn or
Adnan: It’s a simple learn. It’s 200 and 200 pages lengthy, however it has loads of info. So the knowledge changing info into actionable issues is what takes time. However completely, when you undergo it, you’ll perceive it. It’s an easy, proper. It tells you what to do, what to not do, how you can go about it, and it provides you an entire system.
Kosta: That’s nice. The rationale I requested as a result of um, you already know, I really like the books which might be simply very to the purpose actionable with out an excessive amount of fillers. Sure. That’s the place you get probably the most out of a I, I can’t wait to get into it.
Adnan: Yeah, we didn’t need anybody else just like the filler info. We didn’t need any of that. We needed it to be to the purpose and that’s it. Simply extra for from there.
Kosta: Yeah, that’s good. Tying within the guide to advertising, has the success of the guide helped you appeal to new enterprise or construct model consciousness with and also you have been present shoppers or something you’ll be able to share in that regard?
Adnan: Completely. A hundred percent. There’s a enterprise mannequin that I consider in is to promote your self and market your self by educating a. That’s one among my primary methods to try this. Uh, I’m all the time educating individuals regardless of the place I’m, it doesn’t matter what setting I’m sitting in. And that’s my primary advertising software that I exploit, uh, when it comes to changing a then. However in in the present day’s world what occurs is every little thing is on-line and it interprets into applied sciences and what we did is we began creating movies and contents based mostly on educating individuals as properly. So 100% what we speak about within the ebook, we will work that in. It converts into advertising and converts into gross sales.
Kosta: Yeah, I completely agree with that. I strongly consider as nicely that in the event you can present constant worth and schooling to your market or viewers as you say, there’s going to be a very good longterm ROI for you. I simply assume that most individuals, they could draw back from this technique as a result of it’s one thing that you simply won’t see a return on instantly, however I feel the longer and extra constant you’re at it and when you can proceed offering this worth proper, it’s really an incredible, for my part,
Adnan: For positive. A pal of thoughts consciousness. Principally that’s what it’s that you simply’re engaged on. Um, and, and you need to just remember to are elevating consciousness, you’re educating individuals, you’re speaking about it or whether or not it’s via social media, by means of e-mail campaigns, video advertisements, sprints, no matter it’s that you simply do, no matter you’ve labored for you, you must do this, however you must be in entrance of individuals. For those who’re not in entrance of individuals, you’re not advertising, you’re not promoting, it’s not going to return to work.
Kosta: Completely. Completely agree. Sticking to advertising, like what are some, another of your best advertising methods which have offered you probably the most ROI? I do know you touched upon clearly of the guide and simply offering content material and schooling to your viewers. So some other ideas or methods that labored for, for you?
Adnan: I feel that when it comes to slicing by means of the noise that’s out there, you must use social media, a fb commercial as a few of the most superb issues you can goal it a lot. Uh, and it provides you instruments to work with that. Uh, there are limitations based mostly on the housing market. Um, however then once more, there’s a lot that you are able to do e mail campaigns. Uh, one of many issues that I really feel is a missed alternative that lots of people don’t make the most of is their very own contact record. Lots of people usually are not promoting to their very own contacts or the circles that they’re in. They’re your greatest shoppers are potential shoppers that you could faucet into. Um, any given individual these days has over a thousand contacts of their telephones or greater than a thousand pals on fb, however they’re not speaking to them, they’re not educating them. So I feel they need to do this, that, that, that advertising all the time works and cap key phrases and capitalize it.
Kosta: That’s so true. Uh, you realize, a variety of probably the most profitable realtors I’ve spoken to, they, they share that very same, um, you recognize, advertising tip, like individuals simply overlook like what’s proper in entrance of you and never your present community. So yeah, that’s so true. Um, you touched on social media, like do you, are you kind of lively on all platforms or what’s your favourite platform?
Adnan: Yeah, undoubtedly. I feel I really feel that fb is excellent, however I really feel instagram is taking up and that may be a excellent platform to be a, particularly speaking and updating individuals about what’s occurring in your every day life when it comes to actual property, when it comes to your market. Um, I’m going to a displaying and as an alternative of taking each single individual to the displaying, I add a video of that on social media. Now everybody can see it and lots of people can relate to it. There are numerous shoppers that don’t know what they need to purchase until and till they see it and numerous them are hesitant to exit and try these properties, however once they see it on-line within the consolation of their residence, they’re extra more likely to come out and ask you questions based mostly on that and it, it converts, it helps out.
Kosta: Yeah, completely. Excellent. Switching gears just a bit bit, so a standard development that I’m listening to with realtors, is that type of a difficult time with the present market circumstances and rates of interest, uh, you understand, what would you say are a few of the largest challenges that you simply presently face as a realtor? Whether or not it’d be with exterior market circumstances or your advertising or some other problem you possibly can consider?
Adnan: Uh, I feel the most important problem in at this time’s market is getting an excellent deal, proper? They all the time inform everybody that did the cash is within the bio and you need to just remember to are getting whole lot. The battle that is available in that is sellers are usually not prepared to promote it for decrease costs then what they bought it for or what they believed that the worth was to final yr, so that may be a battle that lots of people are having of letting go of these properties and a bar and the consumers are in fact fortunate for purchasing properties at what they’re valued at immediately or on the lookout for offers. So we’re going by means of these challenges, however I’m nonetheless a majority of my enterprise is excellent when it comes to clientele trying to purchase funding properties. It’s the right time to get into it since you are getting offers, you’re getting choices that you simply need to get into and you are able to do much more when it comes to including worth to these properties, particularly properties that aren’t in fine condition that want work achieved. From an investor perspective, the most effective that better of the choices which you could get into can be found proper now.
Kosta: Yeah, for positive. And I agree with that sentiment as nicely. I imply, it’s so necessary to, you already know, become profitable on the purchase, such as you stated, however sadly with the residential aspect of issues, you’re, you’re enjoying with that emotional card as properly, which it’s a troublesome, a troublesome recreation to play for positive.
Adnan: Simply, you’re coping with two totally different mindsets. You’re coping with shopper mindset and the investor mindset. So there’s a stability that you want to discover between the 2 and make the deal occur.
Kosta: Completely. Um, so, so that you’re an award profitable realtor. You’ve carried out $25 million in transactions over the previous few years. Congratulations. By the best way, males are too many realtors who can declare the identical factor. That’s for positive. What number of transactions are you anticipating to finish this yr or over the subsequent 12 months? And when you can share these figures or perhaps present a variety.
Adnan: Positive. So, um, I run a really specialised enterprise when it comes to working with shoppers. So we don’t work with numerous totally different clienteles and a variety of totally different transactions, however what we do is every shopper as an elite shopper they usually do two or transactions to 4 transactions a yr. So they’re our repeat clientele after which on prime of that we have now a session enterprise the place we assist them if they’re taking a look at constructing a home, we’re consultants on the tasks the place we’re creating these properties with them or if they’re renovating these properties, we’re consultants as nicely on them. So, uh, it’s, it’s a unique mannequin than a daily realtor can be doing, however in a yr we work with 20 to 25 totally different shoppers yearly. Good.
Kosta: Good massive time numbers. Nonetheless,
Adnan: conversion price is far larger on every deal than what a daily realtor, however males.
Kosta: Superb. Um, how, how do you see know-how enjoying an element in all this and you recognize, how do you see extra particularly, how do you see know-how altering actual property and even how realtors are conducting enterprise and say the subsequent 5 to 10 years
Adnan: technological developments in actual property in Canada, they’re coming, they’re coming quick and I feel that they’re going to revolutionize our business within the subsequent few years. I see that a redundancies, a are going to utterly get automated which might be occurring in our business and our corporations are literally at present engaged on lot of options to modernize how transactions are carried out. I’m in actual property in Canada and it was utterly modified how realtors and shoppers work together with one another. For instance, there was a softer that simply got here out that folks have been utilizing it very commonly in actual property is docusign or digital signing for something. It has made life a lot simpler not operating round to print paperwork, uh, or uh, the worrying concerning the high quality of your faxes getting ruined. And by the point that you simply’re executed negotiation, you possibly can’t learn your paperwork they usually’re not legible or having somebody comply with up via a guidelines of issues, of paperwork that they want. Each time all of this stuff are going to get automated and individuals are engaged on this the place the methods are going to be very environment friendly. Uh, e-mail advertising, crm, they’re all, all innovating. There are such a lot of corporations which are engaged on this. Your organization is engaged on this as nicely. They’re, they’re arising with merchandise which might be very strongly wanted by the business proper now, so I really feel that know-how goes to be taking up very quickly.
Kosta: Completely. You’re proper in there. There’s a lot room for effectivity enhancements inside actual property and the way, you realize, realtors conduct their enterprise. Completely. Docusign is a superb instance of that, however yeah, that’s simply the beginning of an enormous tip. Precisely. Yeah. Um, any recommendation I’m curious to listen to from you, you already know, you’ve been in the actual property now 9 years, any recommendation you’d give to newer brokers and even any age and actually are somebody listening who’s making an attempt to degree up of their enterprise.
Adnan: Get on the market. You need to speak to individuals, you need to educate and earlier than educating others, it’s a must to educate your self. It’s a must to be persistently studying and there’s no disgrace in asking for assist. I’ve had a few of the greatest mentors that I might ever have and I encompass them, encompass myself with them each single day. Uh, in a yr. You’re studying persistently. Venue are educated whenever you’re updated with the whole lot that’s occurring out there, you’re higher capable of educate your, uh, that’s, that may differentiate you from each different realtor that’s out there. Discover a area of interest, concentrate on one thing that could be very, essential. You don’t need to be simply one other realtor on the block, uh, you need to be sure that there’s something elite you’re doing segmented. Create your pricing technique, create your advertising technique and comply with it. Ensure you’re inside that.
Adnan: Don’t simply exit and do offers like no matter it’s that you simply discover, work in issues you could concentrate on. Um, the opposite factor is should you can work with the staff or you possibly can create a staff, undoubtedly go forward and do this. Uh, and I consider in groups. You need to phase your self into doing issues a sure approach. For instance, if in case you have an agent that’s targeted on, uh, coping with tenants and landlords, a dealing on leases, good. Allow them to cope with all of the rental properties. If there’s an agent that’s engaged on listings, allow them to work on listings. If there’s an agent that’s targeted on the investor phase, allow them to work with that. They are going to be extra productive and extra environment friendly in the event that they do issues this manner.
Kosta: That’s superb recommendation. Um, I completely agree. You realize, one factor that you simply stated there, which I really feel is so easy and straightforward, however lots of people fail to do it. It’s like search a mentor. I feel individuals are often perhaps intimidated by that, however I feel the extra profitable individuals I converse to often I discover like profitable individuals, they really like mentoring and sharing experiences and information with different individuals. Um, so something that’s what individuals fail to comprehend, however you’re proper. Yeah, that’s, that’s some nice recommendation for positive. So, after which I do need to be aware of your time. Uh, I do finish off every chat with what I name the highest three. You prepared for us? So this one may be biased, however your favourite enterprise or actual property e-book?
Adnan: Similar for me. It’s very troublesome to determine one e-book. That may be my favourite ebook. I learn so many regularly, so I can solely inform you what I’m studying proper now. A crushing it. It’s a enterprise guide by Gary Lennard examine and uh, it’s, it’s actually good, actually thrilling. Um, and actual property clever, I feel the ebook that’s on being profitable in actual property by Douglas Grey, uh, it’s an excellent e-book, excellent learn, particularly for anybody that’s dealing in actual property in Canada. It’s related to our business plots. It’s up to date each few years. So it’s very irrelevant. I feel these two packing containers, what I might say
Kosta: I’m an enormous fan of Gary v’s content material as nicely. And naturally, uh, you understand, throw, throw in a 3rd e-book past riches with revenue properties or shares. Quantity two, your prime trip spot.
Adnan: Ooh, this can be a very robust one for me. Um, I journey so much. I’ve traveled 130 cities in 27 nations in simply final years. That’s nice. So, uh, and every certainly one of them contributes a constructive expertise in the direction of, uh, what I discovered from them. Uh, but when it was a prime a metropolis, I might say it’s Rome, Rome, undoubtedly wealthy structure, superb historical past, nice meals, and naturally romantic setting. So, uh, it really works out very nicely. Uh, if I, if and once I journey with my spouse. So yeah, Rome must do.
Kosta: Yeah, that’s an ideal selection for positive. And final query, after which how previous are you?
Adnan: Oh, I’m turning 32 subsequent week.
Kosta: Okay. I do know when individuals have requested me, I type of overlook as nicely, however uh, so should you can return 12 years, what do you would like your 20 yr previous self knew?
Adnan: Oh, understand the facility in myself. Uh, I want I might have realized that sooner. How my phrases can encourage and alter somebody’s life immediately. You’re so highly effective. Each single individual has that factor the place they will make such an enormous distinction. We don’t perceive that. There’s a quote that I all the time keep in mind a and it goes, our deepest worry just isn’t that we’re insufficient. Our deepest worry is that we’re highly effective past measure. So the day we settle for this actuality, uh, that’s the day you have got unlocked the potential to be one of the best model of your self. And I, if I noticed that at 20 I might have completed all of this stuff a lot sooner.
Kosta: That’s superb. Very insightful. Very clever. Completely. And if somebody needed to succeed in out and come up with you, the place’s the most effective place they will discover you?
Adnan: Completely. They will lookup my web site, Torontorealestatepro.com. Uh, and undoubtedly sort in my identify, anyplace on google on-line. You’ll discover us on fb, instagram, any social media, twitter. I’m simply sort in my identify Admin for us and also you’ll be capable of discover it.
Kosta: Superb. I’ll remember to add that each one within the present notes after which this was a real pleasure. I’m so glad we did this very insightful chat. I’m positive lots of people are gonna discover a terrific worth from you and uh, yeah, I do recognize it. We should always undoubtedly do that once more someday. Thanks. It was my pleasure and thanks for having me in your present anytime. Thanks a lot. Take care. Thanks a lot for listening to the Top Agent podcast by Web4Realty. By the best way, we’re offering unique promos to our listeners, go to web4realty.com/topagent and get your first month on us, and that’s web4realty.com/topagent to get your first month of service utterly free till subsequent time, over and out peace.