Table of Contents - Laura Alamery: The 7 Simple Steps System on Closing a Real Estate Deal in 3 Weeks
Dave Debeau [00:00:08] Hey there, everyone, this is Dave Debeau with another episode of the Property Profits Real Estate podcast. And today it is my pleasure to be chatting with a very, very astute real estate entrepreneur, Laura Alomari. How are you doing today, Laura?
Laura Alamery [00:00:22] Hello. Thank you for having me on the show.
Dave Debeau [00:00:24] It's my pleasure. So Laura's calling in all the way in from Florida today. And I'm here in beautiful Kamloops. I love technology. Doesn't matter where we are, we can we can be having a chat about real estate. So Laura has been a very, very active real estate entrepreneur for a heck of a long time. In fact, I think Laura got started way back in nineteen eighty five, I believe, eighty six
Laura Alamery [00:00:51] and eighty seven. I moved from Italy in eighty five and it took me about two years to figure things out. But I don't think the real estate back in 87.
Dave Debeau [00:01:00] Well you got started, you figured it out pretty quickly. Got sort of a.. And Laura has been very active in real estate investing. In fact, she pioneered some of the strategies that are a lot more common today. She was doing that stuff before people really even knew about it that much. And and she's very, very active. She's done a variety of different strategies. And she is all over the place. I mean, she teaches trains, mentors people. She runs real estate clubs in different cities across the United States, pretty much, you name it. Laura has done it with real estate investing. So I don't want to steal your thunder too much, Laura, because our first question is all about how you got involved in real estate. But welcome. Glad to have you on the call.
Laura Alamery [00:01:42] Thank you. Thanks for that.
Dave Debeau [00:01:44] Yeah. Let's get started with me. The first question. So you kind of hinted at it. He came over to the states from Italy as a very young woman. And how did you first get started in real estate, especially in real estate investing?
Laura Alamery [00:01:59] Well, I was in Hawaii at the time. I moved in eighty six and I came to states in eighty five, but back in eighty seven as I was in college, really just looking into different opportunities for a way to pay for college. Hawaii, back at the end of the 80s was really a hot real estate market. So one of my favorite pastimes was to see open houses on Sundays. They had to be a million dollars or more. I wouldn't go for less than a million dollars. And I ran across some people that a real estate broker that actually was an investor. And he suggested I go buy some books and study about the business. He said, that's what I do. I buy foreclosure. We have them and flip them. So that's exactly what I started doing, a sale, rigging up a stock. I had to be licensed. So I had my license. And then I started really by buying my own property, fixing them up and sell them. So within about four years, I moved from a townhouse to a single family home just by buying and selling by fix it up and sell. And we did that three times from the third time. We were buying at one point to my home, which was a probate property in Hawaii. But at that point, my husband was in the army, got orders to leave. Well, that's OK, because we ended up selling that property. We never closed on it. We do the whole Stalley. We made seventy five thousand dollars. We ended up actually flipping the property, made seventy five thousand dollars on a probate. Wow. So that was my first exposure to selling. And then we moved to the mainland in ninety one and actually pursued the rental business and again in ninety one I was still in my twenties and I didn't have a job, I was still finishing up college. I went actually for my master's degree and so says how can I get to a real estate with no money and I start reading up and experimenting with the financing options. So within about eighteen months, about sixteen multifamily properties.
Dave Debeau [00:04:02] Multifamily.
Laura Alamery [00:04:04] Yes, from two units to twelve units building without any money.
Dave Debeau [00:04:10] Very, very impressive. So it sounds like you've done a lot of different strategies, what's kind of your main focus these days? What's your bread and butter strategy that you focus on?
Laura Alamery [00:04:21] And this is the great thing about real estate, because depending on where you are in your life, you can adjust your strategies throughout. Nowadays, I'm more interested in selling just because I don't want to be too involved with the process. We are also Koshien. I'm traveling a lot for personal reasons, so I don't want to be tied into a fixed conflict situation. So different stages in my life. Sometimes I've done a lot to buy and hold some of them more fixed conflicts. So I adjusted my strategy so well.
Dave Debeau [00:04:54] It makes sense for those people that aren't really familiar with the wholesaling as what's a quick definition, a definition of that basically wholesaling.
Laura Alamery [00:05:03] You just control the contract on a property and then you flip that contract to either wholesaler or assign it to somebody else for that assignment or double closing. So really, you take control of the property and you never really own it for more than a few minutes sometimes, and you make money in doing that process. So it's a very good strategy for if you really don't want to be too involved, great for virtual investing, which is there is that right now how to invest all over the country? And then also, if you are the type of person like me that travels to do a lot of things is something you can do on the side and still make very good money.
Dave Debeau [00:05:44] Very good. Yeah, that makes a lot of sense. So, Laura, it sounds like you did a lot of things right very, very early on. But knowing what you know now, if you were to start over again, what, if anything, would you do differently?
Laura Alamery [00:05:58] Well, I started with a fix and flip and blindfold, which honestly, as a new investor, especially if you don't have much cash reserve like I did, and it was really risky. I remember borrowing a lot of credit cards sometimes and asking personal loans and that type of thing, which was very stressful, where wholesaling is not the easiest strategy, but is the one where you can definitely start with not much money on your credit, on your own. So if I was new right now and I would start wholesaling, however, back in the 80s, selling wasn't really a mainstream strategy. Think about it. So I don't think I even knew about it until the 90s. So but that's what I would start.
Dave Debeau [00:06:44] All right. Very, very well said. So I think you might have touched on this already, but now that your you've got a lot of experience behind you, you got decades of experience now and you've been working with people. You've been training people. You run real estate clubs around the states. What are some of the biggest mistakes that you see real estate investors making these days?
Laura Alamery [00:07:07] Well, one of the biggest mistakes is not really treating this as a business is there is a lot of misconception out there that you can go there and close the deal in two or three weeks to make this money. So it's that easy, which is not it takes a certain perseverance. It takes consistency. It takes really the focus in me and anybody else that I've seen succeed in in this business. It was not definitely a fly by night. So I'm going to try this and I'm sure it works and I'm Going to Be a Millionaire is really about putting in the effort and building a consistent cash flow because you can close the deal this month. But then if you have nothing in the pipeline and you don't do this systematically, you might go for another six months about closing a deal and then you get discouraged because you don't build the momentum, especially in the beginning, to build up the momentum for consistency and focus and do something every day. Because I there was a time in the beginning of the 90s where I was actually working corporate and a lot of people going to come from corporate or looking to transition. And what happened was in 95, I decided to go into real estate full time and I knew that I had to build up a pipeline of business. So every day for an hour to two hours, every evening, I would do something no matter what it was. I would make the phone calls, I would look for properties, I would do something. And then a little more on a Saturday, maybe five, six hours on a Saturday, but every day. And I kept myself very focused. And within three months I had a pipeline of deals that were closing. I had raise money that I could fix if I had a portfolio rental properties, but it was about doing something every day. So consistency of focus
Dave Debeau [00:08:58] that those are some very, very wise words. I know my own personal life. Any time I lose focus, that's when everything goes to pot. But once you once you get that. Because once you really dial in, it's amazing what can happen. So thank you very much for sharing that. That's very, very powerful. Now getting a little bit off track here, but I'm fascinated by your story. Very, very impressed that you came to the United States as a new immigrant and basically started from scratch and dial this in very, very quickly. What what would you say? Would be like Robert Kanzaki talks about your unfair advantage and some people talk about your superpower. What do you think would be your unfair advantage or your superpower when it comes to real estate investing?
Laura Alamery [00:09:49] Well, I can only say sometimes ignorance is bliss, being young as I was when I came over and not having any preconception of the fact of things. I'm a woman from another country, speaks badly English. I just didn't think about that. There was no second thought and I just jumped into it. I says, why not? Why can't I do it? I was very fortunate. I would say to be also around the right people. When I was in Hawaii and I started this journey, I joined a real estate company which were real estate agents, but are also developers and investors. And coincidentally, there were seventy five agents and seventy four were women. But that's the owner of the company advised Dollman was her name. She believed that women were better in real estate. So she really reinforced that idea about what I like. There is the type of community and support of other women. Were very powerful and very knowledgeable in the business, but also the professionals. And that is what really shaped my vision about real estate to be an investor. And also it to people, because they taught me they taught me a lot about the business. And that's why I coach other people that come from that background. But being young as I was, they took me under their wing and really followed them around. So my recommendations to anybody is find a community, find people that you can relate to and empower you and associate yourself with them, be better particular who are around, especially in real estate, especially the beginning of the journey, because that can make or break you as a real estate investor.
Dave Debeau [00:11:30] Yeah, very, very well said. So, again, that's probably part of the reason why you started so many clubs around the country, is to create that kind of a community, is that right? So wherever anybody is and I always highly recommend this, go join your local real estate investment club. If there isn't isn't one locally, start one or travel a little bit to get to the one that's closest to you. It just makes sense. Surround yourself by people who are actually actively doing it. Very, very well said. So, Laura, there are lots of people out there that do real estate investment coaching and training and mentoring and all that kind of stuff. What do you think is the biggest problem that you help people to solve?
Laura Alamery [00:12:13] I would say there is a there is a gap between learning about real estate investment and implementing. You know, there is a lot, like you say, a lot of training and coaching. And honestly, I tell people, you know, there is so much information on podcasts, YouTube, bigger contests, you name it, you can learn about the business. So that's not the issue. The issue is when you go out there at the end of the day, when you go out there in the morning to really see what you can do, that's where the product comes in. Where do I start? Am I doing this correctly? Who can I ask to look over and see if I'm doing the right things? And so I see that a lot of programs will a lot about the teaching, but then the implementation is not there. And that's where I think I come in a little different. Just because I have an open door policy with my students are here in Florida, but I have students coming in from the country. We have three day retreats where they can work with me when actually opening up an office, a bigger office where the students can come in and work with me side by side and they can come in from all over the country so they can take it to three days and come here and work with us. So this is the type of community that we're building. And the other thing is helping with the implementation, like we have experience, indisposition, acquisitions, negotiations. So if they want them, we can help them with that as well. Really be hands on and basically sell their property and help them acquire the property, do the calls. And we have teams in place. So we are a lot more about implementing and forming a community that a lot of our coaching companies or gurus don't do a lot of business.
Dave Debeau [00:13:55] And here's here's what to do. Go figure it out. Go do it yourself. Make sense, right?
Laura Alamery [00:13:59] I mean, education is important, but if you don't have the implementation, a lot of people to present their tracks.
Dave Debeau [00:14:04] So do you have any free resources? People can get to find out a little bit more about you to take that dip their toe in the water with you?
Laura Alamery [00:14:11] Sure, yeah. They can go to my website, which is Laura al-Amiri, dot com. That's L.A. You are a l a m e r why dot com. And right there on the home page of the top is the ebook that they can download is a seven easy steps to close a deal in three weeks. And that goes into full selling basically. But some of the strategies on how to locate properties and how to write the contracts and so forth can also work for buy and hold a fix and flip. But that is a great resource, is a great new book. It's really a lot of information and, you know, in a few pages.
Dave Debeau [00:14:54] Excellent, very good. I will include the link for that in the notes page with the podcast. So as we're wrapping up here today, Laura, I know these are short interviews, but we'd like to keep them, keep them tight. But from all of your years of experience, what do you think is the most valuable and actionable tip? That you would give somebody who's watching this or listening to this podcast?
Laura Alamery [00:15:19] I, I like to use the slogan Buy Nike, just do it. You know, at the end of the day, there is a lot of paralysis of analysis. There's a lot of information. And people feel like they never know enough or they need a little bit more information. But nothing comes from experience as much as you're going out there can do it. So at the end of the day, just go out in the field, even if you just walk around the neighborhood and start talking to people and look for vacant houses and just being out there and doing something the other saneness says is better. An imperfect action that no action at all. And that's what I say. Just do it. Just go out there. Don't worry too much. Don't try to see the end of the staircase. Just see the next step in front of you and just move forward. And things would fall into place because action would produce results.
Dave Debeau [00:16:14] Wise words with that word wrap things up. Laura, thank you very much for being on the podcast today. It's been a real pleasure and I look forward to talking with you again in the future.
Laura Alamery [00:16:24] Thanks.
Dave Debeau [00:16:25] Thank you. Thank you, everybody. Well, thanks very much for checking out the property profits podcast. You like what we're doing here. Please head on over to iTunes, subscribe read us and leave us to review it. Very, very much appreciated. And if you're looking to create a regular flow of inbound investor inquiries about your real estate deals, then I invite you to attend one of my upcoming live online demonstrations. And you can check that out at Investor Attraction Demo Dotcom Ticker.