#83: Grow your REI with Radio Marketing Strategies
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Joining us today is Chris Arnold, who has closed over 2,500 real estate deals using a marketing channel that is very effective but frequently overlooked, radio. In his 15 years of working in real estate, Chris has perfected a method of micro-targeting the exact audience he is looking for and then creating explosive radio spots that result in prospects approaching him to buy their homes. This marketing channel brings inconsistent and highly motivated sellers with virtually no completion!
Most recently Chris has launched his REI Radio coaching program. This program is designed to teach real estate investors the Marketing stream that everyone knows about NO ONE is doing!
In this episode we’re discussing
[2:35] Why radio reaches the target audience he wants
[4:12] How the radio inspires and creates motivated sellers leads
[5:30] They run around 62 spots on radio, where the message is clearly communicated
[7:52] The advantage of this channel, where you have authoritative marketing
[10:18] It doesn’t matter what your strategy is or on which side of REI you are, you can get a radio ad for your business.
[12:03] How the radio creates an instant trust in their mind and how people just want to talk to the person they heard and don’t to another competitor
[15:36] The low cost and the effectiveness vs other Marketing channels
[19:35] How he encourages people to identify themselves as a marketing person
[21:57] What motivates him to impact others, his coaching, and mindset
Arnold’s Top Tip’s
“The primary demographic that we are serving is over the age of 50, and our grandparents don’t have Spotify subscription, they still get in the car. And you connect the fact that radio is the best way to get in front of them”
“You can owner, finance it, rented out, fix and flip, wholesale, we can name every exit strategy, there is one thing we all have in common listening to this podcast, is we need deal flow and we need an opportunity that’s what radio does”
“We're running 62nd spots on the radio so that our message is clearly communicated, people over the age of 50 don't want fast, they don't want speed. They don't want fast-talking. They want a clear and simple, slow explanation”
“You have authoritative marketing exists through channels like radio and television, this is the channel that when you are heard on, it is assumed that you are an expert at whatever it is you're talking about”
“When you're advertising on the radio, doesn't matter who's listening, what their motivation is, want to do deals with you, you automatically are put in a position where they want to get closer to you for whatever gain they feel like they can give you. And that is the power of radio. You don't get that on a lot of other marketing channels.
“We have a completely turnkey model. And what I mean by the turnkey, is it's plug and play, just take what we do in our system that I've been doing for 10 years, worked out all the kinks done all the split testing the answer to every variable that exists when advertising on radio, and you just plug it right into your business”
“If we compare it to direct mail or any spam approach like I would consider spam approaches as ringless, voicemail, text blasting cold calling direct mailing right and scamming people, I'm sorry, but you're not generating a motivated seller lead over half of those people are calling you to screw off, right?”
“We compare it to a lot of other marketing channels that require a lot of time, and tweaking and split testing. With radio, the radio station does everything for you, all you got to do is pay your monthly bill and answer the phone when the lead comes in or send it to whoever you have to answer these calls for you to convert them”
“I've set up my operations to live into the loom. And I am not involved in the day-to-day, if you have that mindset of a lifestyle business, I believe that things like radio are essential if you have this mindset of: ‘I want to build this business that runs without me as much as possible.”
“My mindset is you take a deal that you contract and then you sit down and you figure out what exit strategy is going to yield you the highest profit and sometimes it should go into a rental portfolio right sometimes you should also go in and actually put some work and rehab into this one because we're going to get a great ROI if we flip this thing, my mindset is never getting stuck in one mode of an exit strategy”
Mike’s Top Tips
“What I've been telling over listeners, it's how you buy, you want to buy the asset, to the point where if the economy crashes during a pandemic, or during a depression, you don't have to sell, because there's no reason to. The whole thing is getting those types of leads to where you're getting the asset, no matter what you want to do”
“A lot of our listeners are that they're busy people. This is usually a side hustle, they're working nine to five, they're making good money. And that plug in the two words plugs and play easy things that they can forget about. That's what they need because they're stressed already at their jobs”
Resources about Arnold
Email | Wholesaling Inc | Cosa Investments | The Multiplier Master Mind | Youtube |
+ Read the transcript
Mike Stohler
What if you could be doing something smarter with your money that creates income. Now, if you're wanting to get ahead financially, and enjoy greater freedom of choice, if you want a comfortable retirement, and you know you'll have more choices, if you can do more with your money. Now, if you've wondered who else is creating ways to make their money work for them, and you want actionable ideas, with honest pros and cons, and no flow.
Welcome to the richer geek podcast. We're here helping people find creative ways to build wealth and financial freedom. I'm Mike Stoller, and in this podcast, you'll hear from others who are already doing these things, and learn how you can too.
Welcome back everybody. Joining us today is Chris Arnold. He has closed over 2500 real estate deals using a marketing channel that's very effective, but frequently overlooked radio and his 15 years of working in real estate, Chris has perfected a method of micro targeting the exact audience he's looking for, and then create an explosive radio spots that result in spot prospects approaching him to buy their homes. This marketing channel brings into consistent and highly motivated sellers with virtually no competition. We want to welcome Chris Arnold, who is the co-founder of COSA investments. And the reason why I picked Chris today is he has a very unique way of marketing real estate. How are you doing, Chris?
Chris Arnold
No, well, man, glad to hang out at some time there.
Mike Stohler
Yeah. And you're coming from sunny Mexico, or is it not so sunny Mexico is probably a lot warmer than we are right now.
Chris Arnold Is the best time of year to be down in Mexico. So for next three or four months, it's going to be like 70 degrees out of the rainy season. So it's truly like sunny and 70 every day.
Mike Stohler
Oh, yeah, that's perfect. Yeah. And usually where I'm at in Scottsdale, Arizona, it's usually, you know, three degrees from the sun. You know, 115 or so we get super hot, then, you know, now I'm in a jacket, you know, it's it's 65 degrees. I'm like freezing. So that's it's it's the kind of bad part but so, Chris, you've before we get into exactly what you do, you know, you're very active in real estate itself. And you have a pretty big milestone I've you've actually closed over 2500 deals, but it's the way that you've closed them. That is unique. You're using a very unique marketing channel. And that channels radios that correct?
Chris Arnold
Yeah, absolutely. And people step back when we say radio, I tell you the very first thing that comes to people's mind radio, really isn't that old, like antiquated. And I go, yep. And guess what so is your target audience. So here's the biggest mistake I see people make people confuse themselves as the demographic or as their avatar. So guys, like you and I might go, you know, hey, we download our music. I got a, you know, Spotify subscription or I utilize Pandora. But if you look statistically around the country at investment properties, particularly single family, doesn't matter. If you fix and flip owner finance, you know, want to build a rental portfolio, it's all the same. The primary demographic that we are serving is over the age of 50. And I'm sorry, our grandparents do not have Spotify subscription, they still get in the car. And when they turn that engine on, they turn it to the two to three radio stations that they love the music on. And all sudden when you realize that that is our number one demographic, and you connect the fact that radio is the best way to get in front of them. It's an aha moment for everyone going How in the world did we look past this one?
Mike Stohler
Yeah, that's fascinating. So okay, target market over 50. Now are you when we're talking about the deals are you what's buyer side seller side investor side, the renter side what demographic
Chris Arnold
I am on generating motivated seller leads seller is not a conversation or an ad that speaks directly to a seller over the age of 50. Yeah, it is in a distressed situation that would cause them to want to deeply discount the sell of a residential property. Now, what you decide to do with that property doesn't matter. You can owner finance It rented out fix and flip wholesale hotel, we can name every exit strategy there is. The one thing we all have in common listening to this podcast is we need deal flow, and we need opportunity. And that's what radio does creates motivated seller leads.
Mike Stohler And the this is fascinating. It's like, you know, I have these questions Ralston, I paused I'm like going, Wow, you know, you know, this is pretty cool. So, the function of take us through grandma, grandpa, or our parents. I'm almost getting up there. So it might be me and a few years, yeah. I'm listening to the radio, and all of a sudden, this ad pops up. The ad is going to say, what, for instance, what give me give me an example of what we can expect to listen to.
Chris Arnold
We're here running 62nd spots on radio, again, you have options to run 30s busy cetera, we run 62nd spots so that our message is clearly communicated again, we're serving people over the age of 50. They don't want fast, they don't want speed. They don't want fast talking. They want clear and simple, slow explanation. So what you're hearing in the ad, is us simply running an ad that hits on pain points, right? Are you behind on payments? Do you own a house that needs 1000s? of dollars in repairs? Are you a landlord that's tired of being a tenant? So we're hitting every motivating factor or pain point that we know that these sellers might be experiencing? And then providing a solution call to action at the end saying, hey, if any of these pain points are your pain, give us a shout. And again, it's always the same right? Cash, as is convenient clothes, blah, blah, blah, like we always do, to allow people to sell their properties to us for cash, and they prefer to go that route than a traditional agent, which requires the hassle of going that route.
Mike Stohler
Okay, and do you handle both sides? You know, I'm looking off, because I'm an investor, because I'm, my wheels are starting to spin a little bit. Thinking about all these different things that we could do, you know, with, with the radio and all these sorts of things. So you can teach people how to do the radio, leads these ads. But then, do you also through your business, you generate all of these leads, that someone like a wholesaler in the United States could then pick up from you? You know, like, so I'm looking at a lot of our different listeners. Are there people that want to buy houses? Okay, they want to, they want to know, how can I do what you do? But then do you also get all these people that you are already buying these houses from and then generate a business? Can you do it that way? Also, where you're also can wholesale your own leads?
Chris Arnold
Yeah, so let me explain it this way. This is what's referred to as authoritative marketing, right? You have authoritative marketing exists through channels like radio and television, this is the channel that when you are heard on, it is assumed that you are an expert at whatever it is you're talking about. So if you're an attorney, and you advertise on the radio, and someone hears you, the assumption we make is man, that's probably a pretty good attorney, because only gray attorneys can afford to advertise on the radio, right? So what I have found is it makes you magnetic for all kinds of opportunities. So even if, for instance, in our ad, all we're doing is, you know, trying to generate motivated seller leads, we attract all kinds of people, we attract people that hear us and go, Hey, I want to actually invest my money as a private lender. Man, you sound like a sophisticated investor, are you looking to pick up some funds? I'm a vendor, and I do construction work. And you do rehabbing of houses? Man, I'd love to get on your side, you know, how can we strike up a deal and then you end up getting vendors at a less price? You generate retail leads people that want to list I could go on and on. But the point is it's making you magnetic in your environment. And here's what I'm gonna tell you does two things. It creates celebrity status and instant credibility. We get celebrities from psychologically what happens in our mind when we hear people on the radio and see them on TV. Why celebrities this psychologically we elevate that person in our mind to a Position of status that is superior to us. And on top of that, we give instant credibility that we automatically trust this person. So when you're advertising on the radio, doesn't matter who's listening, what their motivation is to want to do deals with you, whatever that looks like, you automatically are put in a position where they want to get closer to you for whatever gain they feel like they can give you. And that is the power of radio. You don't get that on a lot of other marketing channels.
Mike Stohler
No, not at all. And it's, it's fascinating. And for those of us that say, Well, how do I do this story? contact you know, FM station this or am station this, you have Rei radio coaching program that handles all of our listeners. questions correct. Tell us a little bit about
Chris Arnold
I’ve been doing this for 10 years, right? So my mindset is, anytime I go to learn something new, no way, I'm going to start from scratch. I'm going to pay for speed. So I don't care if I'm getting in shape. I don't care if I want to learn to do whatever it is. You know, I live in Tulum right now. So free diving is example. I go out there and start free diving down myself and watching YouTube videos. No, I'm going to go fine, which I did the best free diving instructor that lives in saloon, and I'm gonna start working with him. So absolutely, we have a completely turnkey model. And what I mean by turnkey, is it's plug and play, just take what we do in our system that I've been doing for 10 years, worked out all the kinks done all the split testing the answer to every variable that exists when advertising on radio, and you just plug it right into your business. And again, as I mentioned, it doesn't matter what your strategy is. So this isn't for just someone that is a fix and flip, or just a wholesale, whatever your strategy is, we all have the same need. And that is to generate a motivated seller lead. And so that's what we're going to be able to help people do via our program.
Mike Stohler
Yeah, it's wonderful. It's, you know, not only do I do some wholesaling, but I do you know, long term least, to hold. But the whole thing is what all of us, and you know, what I've been telling over listeners, it's how you buy, you want to buy the asset, to the point where if the economy crashes during a pandemic, or during a depression, you don't have to sell, because there's no reason to. So the whole thing is getting those types of leads to where you're getting the asset, no matter what you want to do.
Chris Arnold
This is the highest motivated seller lead that you can generate.
Mike Stohler
Absolutely, Yeah.
Chris Arnold
If we compare it to direct mail or any spam approach, which most people who which I do, like I would consider spam approaches as ringless, voicemail, text blasting cold calling direct mailing right and scamming people, I'm sorry, but you're not generating a motivated seller lead over half of those people are calling you to screw off, right? Like don't put mail in my mailbox anymore, right there hate calls. With radio, no one's doing it. there's virtually no competition. If you're listening, I want you to turn on the radio, as you're driving down the road, right. And I want you to see if you can even hear somebody in your market advertising for, you know, distressed seller leads, I cannot be more even here, though. So here's the deal. If I'm the only one that's dealing with this seller, I'm going to get a better price than if I do direct mail. And I'm going up against six other investors. And we're all competing on who can give the seller the highest price and shrink my margins. So without question, it's the highest motivated seller I know how to generate. And number two, primarily, we're the only ones that that sellers talking to. And again, the reason they're not calling five other people is because you're a local celebrity, and you have instant credibility. And I don't think I need to call anybody out. You're the you're the guy or You're the girl that's on the radio, like let's do business. Like that's how people think, particularly people that are over the age of 50 that live in a world of just trust. Right? That's a good old fashioned handshake. And I trust you and radio on their mind creates an instant trust. Yeah.
Mike Stohler Yeah. And how many of our listeners are, you know, the hiring companies to do these Robo dials and trying to generate leads? Well, I tell you, what, if if that number is not in my phone, list, a name attached to it, you're not going to get me anyway. And that's the way it is with everyone. So all these dialing for bucks, you know, how much does that really working in today's society? But if you are listening to the radio, what are you going to do reach down and turn down every single advertise, I meet people aren't going to do that. You're getting captive audience. You're there in their car and they're listening to you.
Chris Arnold
Absolutely. And here's the thing I'm gonna tell you if you're listening, right and let's say you're someone that you know is utilizing real estate as a side hustle. And so you don't have a lot of time. I think the best aspect of radio is that it, set it and forget it. So we compare it to a lot of other marketing channels that require a lot of time, and tweaking and split testing and are just an overall pain in the ass to run. With radio, the radio station does everything for you, all you got to do is pay your monthly bill and answer the phone when the lead comes in or send it to whoever you have to answer these calls for you to convert them. But it is without question, the easiest marketing channel to run long term. Because if you're like me, Mike, last thing I want to do is launch a new marketing channel that feels like I just created an entirely nother job for myself.
Mike Stohler Yeah, and you know, a lot of our listeners are that way, you know, they're busy people. This is usually a side hustle, they're working nine to five, they're making good money. And that plug in the two words plug and play easy things that they can forget about. That's what they need, because they're stressed already at their jobs. Yeah.
Chris Arnold
And here's the other thing. I'd say on top of that, we already talked about assumption number one, why don't use radios because I think it's outdated. And I don't understand my avatar. Here's the number second reason. Mike, if you ask people, well, what's the average monthly budget to get started on radio, most people will tell you probably 10k. Do we are like Market to Market across the US helping students do this, the average budget for our students on radio is between 500 to $2,000 a month, that's less than direct mouth. The reason is, we are teaching people literally how to buy radio at 25 cents on the dollar. Again, we live in a world where most people pay retail, right? for radio, just like most people in America pay retail for their homes, but we're having a conversation. And you and I live in a world where you buy houses at 60 cents on the dollar. Now the rest of us doesn't understand that they're like you can't do that, because they're so used to paying retail, it's the same application over to radio, we're literally coming in and everyone else pays retail for radio. And the way they go about it is completely backwards. And we're over here buying Radio 25 cents on the dollar, maintaining budgets under two grand a month for a radio station. And on top of that having the absolute best rate possible for a marketing channel like this. It's It's fantastic.
Mike Stohler
And it's something else that you're doing as you're utilizing to, again, keep a lot of the work on your off yourself as you're utilizing vs.
Chris Arnold
Crap, I'm not in the day to day. So I've set up my operations to live into loom. And I am not involved in the day to day. And so my whole thing is I want to set up things that bother me as little as possible. So if you have that mindset of a lifestyle business, and you can't go in and decide that you want to do cold calling, I'm sorry. But that's, that's going and contracting against the value of freedom because that thing is going to you know, do the opposite. It's going to steal time and energy away from you. So I believe that things like radio are essential if you have this mindset of I want to build this business that runs without me as much as possible.
Mike Stohler
Yeah, yeah. Cuz, you know, remember everybody, you know, the reason why you're listening to this podcast, the reason why you're wanting to learn this, is you want to build and diversify your wealth, so that when you retire, you're not stuck with 100% of everything in your IRA, your 401k whatever stocks, you know, if someone sneezes the stocks go down every four years we may have you know, the political shifts, goes up down. One thing that is consistent that will always I don't like to say always, but usually appreciate his real estate. And in order to do that, you can't just quit your job and go into it that just does not work with most people. You have to get with mentors experts. Don't go at these things alone as far as Oh, okay. I'll do radio advertising, you're going to lose your shirt. Get with experts like Chris they've done it learn from his mistakes, learn from his expertise and do the plug and play Don't try to do it on your own or else you're going to just like me when I tried to invest in my own crashed and burned learn from our mistakes it's very fascinating Chris it's now you do do some wholesaling you know we'll kind of wrap this up but a lot of our listeners probably don't know what jayvees are, you know you do some joint ventures in the wholesaling are you still doing any that you still do? a different type
Chris Arnold
of wholesaling with jayvees we do fix and flip wholesale hotel you know you name it so yeah we utilize multiple marketing strategies my mindset is you take a deal that you contract and then you sit down and you figure out what exit strategy is going to yield you the highest profit and sometimes it should go into a rental portfolio right sometimes you should also sometimes hey let's go in and actually put some work and rehab into this one because we're going to get a great roi if we flip this thing so my mindset is never getting you know stuck in one mode of exit strategy so i always challenge people don't identify yourself as a fixin flipper or a wholesaler or anything you're a marketing person and as a marketing person you are utilizing multiple tools and exit strategies to capitalize and get a higher roi on your marketing that's the way you should be yourself
Mike Stohler
yeah and you know everyone you should also think about well i don't have the money right now or I don't have the time to do what we're talking about today you know something like a JV JV is a joint venture well you know what there's a couple of your guys's in your office that can do it and you might want to get together as to summer threesome do some type of a joint venture and now you can sit there and say okay now i can learn how to do it on the radio advertise and market yourself properly but now you're only a third into it instead of full into it so there are always different ways of doing things the number one thing you cannot do is make the make the excuse that you don't have the time or you don't have the funds because it's you'll never get started you'll never be in mexico free driving free diving on your spare time or you know like me golfing and you know and not worrying about where the next deal is going to come in you know because we're making it work oh so you know one thing i always ask everyone is any any other type of resources and the type of books that you've read lately that are investors might be able to you know what motivated you to do this was was there a mentor or book that you read
Chris Arnold
I wouldn't say that there's a book i read that motivated me to do this but you know people ask me a book you know that has really impacted my life and my business I always recommend a book called organizational physics I feel like that was a book that helped give me a lens to understand how businesses not just real estate operate as a whole it was a paradigm because like when you read rich dad poor dad you just had this massive paradigm shift difference between you know passive income and you know liabilities and all that type of stuff and so you know I know so many people that that shifted their thinking and why they do real estate investing so organizational physics kind of did that same thing for me around business
Mike Stohler perfect and where can our listeners find you
Chris Arnold
yeah so if you're interested in radio one of the things we've done to preserve this and not allow it to get oversaturated is we limit people per market so we do exclusivity and so we have a very tight knit group that are doing this in different markets so we definitely at this point have certain markets that have been sold out but what you want to do is start with due diligence i always recommend asking questions and book a call and you can do that by going to wholesaling inc.com forward slash rei radio again that's wholesaling inc.com forward slash rei radio and of course for just free info want to see more videos and stuff on it you can go to youtube and subscribe at chris arnold real estate and you can get free content over there specifically on radio
Mike Stohler no there you go everybody who knew that radio still exists and radio can make you wealthier it can make you it can ease your existence as far as your market share and how you get hold and how you can captive captivate an audience in a way that most of us don't even know existed still and it's it's it's very fascinating and i you know i've always said if everyone's doing it get out of it well you know what not everyone is doing radio advertising and marketing so this is the time that if you want to do it and you're serious about it get a hold of Chris arnold so that you can learn how to do what he does very well thank you everybody thank you Chris I appreciate your time
Chris Arnold
absolutely man appreciate you
Mike Stohler
Thanks for tuning in to the Richard King Podcast, where we're helping others find creative ways to build wealth and financial freedom. For today's show notes, including all the links and resources from our show, and more information about our guests, visit us at www. Richergeek.com slash podcast. And don't forget to jump over to Apple podcasts, Google Play Stitcher, or wherever you get your podcasts and hit the subscribe button. share with others who could benefit from listening and leave a rating and review to get the podcast in front of more eyes. I appreciate you can thanks for listening
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ABOUT CHRIS ARNOLD
Chris Arnold is the Co-Founder of COSA Investments, one of the largest wholesale companies in the DFW Metroplex. COSA is operated and managed by a US virtual team which has allowed Chris to run his company while living in Tulum, Mexico. He is also the founder of Arnold Elite Realty which is a cutting-edge boutique brokerage consisting of a team of seasoned agents. His passion for coaching and mentoring entrepreneurs has led to the creation of The Multipliers Mastermind.
Most recently Chris has launched his REI Radio coaching program. This program is designed to teach real estate investors the Marketing stream that everyone knows about NO ONE is doing!