Episode 26: Colm McCormack Metric Machine in Colorado

Get your tablet ready – or pen and paper if you’re old school – because you’re going to want to take some notes from this interview. If you’ve never heard of Colm McCormack, he’s quickly going to become one of your favorite real estate masterminds after this episode. I take a crack at his business model and he breaks down the metrics of his investment team to show you exactly how many appointments it takes to book a contract. [youtube]https://youtu.be/e19Olti5Ylg[/youtube] Colm comes out of Colorado Springs, and he’s part of my mastermind group, The Collective Genius. He used to be a pastor, and he’s taken a shot at a lot of different business ventures before he decided to settle down with real estate investment. It works out really well for us that he chose real estate because his due diligence and his insight into new strategies is going to give you a lot to think about when it comes to designing your business goals for 2016. He’s already sold 6 houses this January! So if you want your year to start looking like his, tune in to hear Colm explain some of his numbers (both good and bad) so you can learn what it takes to succeed in 2016’s competitive real estate market. [Tweet "If it’s a fast deal and you don’t know what you’re doing, slow down."] TOPICS: 3:52 –  Colm breaks down his real estate expertise 6:55 –  The “breaking point” that tipped Colm into real estate 8:00 –  How much did Colm make on his first close? 8:26 –  Colm’s biggest influence in the business 10:20 – The mistake that cost Colm $60K 12:48 – Keeping greed out of your business plan 15:22 – Colm’s Profit Master strategies and what’s working the best 18:15 – How did Colm get 8 contracts out of 10 appointments? 19:20 – Colm closed all 8 of those contracts too! 19:33 – How to get a quality list the way Colm does 23:01 – Colm breaks down his current contracts, appointments, and costs per lead 24:24 – Colm’s best advice for starting a new business (and why it’s important to test new strategies) 25:40 – What would Colm change about his current business model? 26:20 – Colm’s favorite business quote 28:08 – The book that changed Colm’s life 28:50 – Why Colm’s obsessed with measuring his results 31:40 – Colm’s morning routine for success (he wakes up early!) 35:40 – When should you hire a mentor? 37:25 – Colm claims that inspiration is the best motivator 38:40 – Colm’s goals for 2016 and how you can help [Tweet "If you're in the top 10% of your field, you’ll survive because your field will always survive."] Links and Resources: If you’re in the Pueblo or Colorado Springs area, or just want to hit Colm up for some solid advice, shoot him an email at [email protected] And don’t forget to check out our mastermind group at www.thecollectivegenius.com Visit www.yellowletters.com for some of the great marketing tools Colm has been using to promote his properties. Traction: Get a Grip on Your Business by Gino Whitman is the book Colm references in today’s interview.   Full Transcript Download the PDF Transcription Cory: What is going on, party investors. This is Cory Boatright. I am founder of Real Estate Investing Profits and your host on Profit Mastery Product Cast series. I hope you're having a phenomenal, fun, fulfilled, and incredible day. I'm bringing to you another interview with a guy that you’ve probably never heard of. I’d be shocked if you’ve ever heard of Colm McCormack. He’s one of our Mastermind members in the Collective Genius. Make sure you check out the show notes in the link for that. Colm is somebody that is actually a former pastor of a church, he’s got his Masters in Divinity, he went and has been up and down for successful ventures, and he kind of settled with real estate investing. What we do in this interview is really unlike any other one today. We broke down all the metrics of his business, I'm talking about how many leads came in, the equal appointment,