REMEMBER BE A SERVANT: Episode 33: Mark Ferguson Awesome Investor REO Agent from Colorado

Mark Ferguson is the REO agent extraordinaire with blue Diablo Lamborghini. We need more people with that kind of refreshing perspective! So I invited him on the show today to share what tweak to his strategy sent him over the top. His Broker Price Opinion (BPO for short) strategy paid off HUGE and all it took was a change in attitude and a little risk.

Using a BPO and working with the bank to find and sell listings are all a part of the strategy secrets Mark’s talking about today. He started with cold calls to the bank - something some of us are a little wary of - and followed through with hard work. Who knew working in realty was that easy? With a few phone calls and a lot of hustle, Mark has been able to grow from selling 15-20 houses per year to over 200 houses! His ability to balance the work of an REO agent and an investor also pays off in full. His REO listings generate more buyers and help him build his team, while his investment properties continue to earn him profits.

[Tweet "The biggest thing [my mistakes] cost me was opportunity because I wasn’t looking for more deals. - Mark"]

The best part of this podcast is Mark’s amazing advice. Mark says that the only way to stay focused is to zero in on only a few things in the beginning. Take the time to narrow your focus, build your team, and establish a strong foundation at first. Whether your business is in flipping homes, rental properties, or a quirky BPO listing strategy, the best way to succeed is to focus on the solid base of this business. Remember - Staying focused will make you rich!

MINUTE MARKERS

2:50 - Meet Mark, REO agent extraordinaire!
3:03 - investformore.com; check out his podcast Invest For More
3:30 - What areas of realty expertise is Mark zoning in on these days?
4:20 - The realty scene in Colorado is at $250K average
5:15 - Mark’s father got him involved in real estate investing
7:01 - Gary Keller book influenced
8:14 - We break down our individual reading strategies
10:17 - Mark Ferguson’s worst mistake was trying to do all the work himself
12:40 - How Mark developed his REO Investment Strategy
13:57 - Mark’s change in attitude helped him sell more houses
15:01 - How to work with the banks and the REO system all the way to commission
17:30 - How blurry is the line between agent and investor when working with REO?
18:22 - Making real money from Broker Price Opinions (BPOs)
20:37 - Mark Ferguson’s biggest piece of advice
21:41 - Find your niche in this business ASAP
22:32 - “Conquer the resistance” is Mark’s favorite business quote
24:04 - Mark isn’t super techy but dropbox is his favorite app
24:42 - Is Mark on Snapchat yet?
25:12 - YouTube Connect is going to be the new Periscope
26:10 - What is “Third Circle Theory”?
27:00 - Mark has a night routine with his office in the basement
28:30 - The biggest lesson Mark Ferguson learned in this business
29:33 - Family support is crucial to Mark’s success
30:43 - What happened when Mark hired his first mentor?
33:06 - We both think of coaching as an asset and not a liability
34:55 - Check out Mark and his ’99 Diablo Lamborghini
35:45 - Get with Mark on his blog for some free coaching
36:55 - Investformore.com and Mark’s shop
39:30 - Time isn’t recyclable – call me at www.callwithcory.com