How to Build a Referral-Based Real Estate Business | Realtor & Investor Natasha Joseph

Natasha Joseph (00:00)
Think people need to know their niche. They have to know what works for them. You know, everybody, I believe everyone has a gift. And when you find that gift and you’re working in that gift, it’s different. You know, you can feel it. It’s heartfelt. It’s, you know, it’s it’s abundance when you’re working in that gift versus doing something just because you’re you want to make this money.

It’s it’s a difference. You know, it it can’t your why can’t always be money. Don’t get me wrong, money is a tool, is a resource. We want to make money, but it should be something bigger than that.

Dylan Silver (02:08)
Hey folks, welcome back to the show. Today we’re joined by Natasha Joseph, known as Natasha the Realtor or The Execution Queen. She’s a top producing Louisiana realtor and investor. You can find her at theexecutionqueen.com. Natasha, thanks for joining us here today.

Natasha Joseph (02:26)
Thank for having me.

Dylan Silver (02:27)
Great to have you. And when we talk about being an agent and investor, I’m sure you see a lot coming across your desk. What types of deals are you looking for these days?

Natasha Joseph (02:39)
Right now I’m in a mixture of everything. We all know that the market right now is kinda crazy, but I like when things are crazy, give me chance to pivot and move a cartlet. So right now I have a little bit of everything going on. I’m actively looking for another investment property to take and flip. We actually just put in the offer and

was outbid it. It was a succession on properties. So that there that was kind of look downhill for me. But right now I actively have two properties under contract, but those are for buyers. I am looking for something to flip and we’re looking for multi-units. And right and and in and I’m sorry. It’s ca inventory is kind of low in Louisiana, especially in New Orleans.

And then Jefferson Parish as it relates to duplex and fourplexes. And that is what I’m actively looking for. But right now across my desk, I just have a few things under contract.

Dylan Silver (03:43)
Now, there’s a lot of folks, myself included, who would like to lock up a a duplex, triplex, or or a quadplex. When you’re looking at deals in in your area, is there a certain acquisitions price, a buy box that you’re looking for? Is there a certain grade or ability to appreciate and rehab the property that you’re looking for that you’re comfortable with? What’s your buy box look like?

Natasha Joseph (04:07)
My buy box look at looks at looks like I’m sorry. The area. We’re making sure we can in on area. We’re looking at what the fair market price for that area. We’re gonna walk it. We’re gonna look and see what it’s gonna cost for us to rehab this property versus what it sell, for example. we were looking at a a duplex, right? And a duplex property that we was looking at was for one thirty-five. One side of it was

rent it out, the other side needed completely rehab. That was a great buy. So we had a a bunch of offers, a lot of multiple offers on for that. And unfortunately we was outbidded in there. But when we’re looking, we’re looking for something that we may be able to do a cash off on, get in and get out. We want to get in quickly as possible, remodel the home, get it on the market and get it rented out.

Dylan Silver (05:49)
Now, when we talk about the scope of work, this is oftentimes a crucial area for underwriting and also for management once you’ve acquired a property and are actively rehabbing it or or working with contractors. In a duplex, you mentioned one side needed rehab. What would be a typical timeline when you’re going about that that rehab? Is it you know 60 days, 90 days, sometimes longer? What does that look like?

Natasha Joseph (06:18)
I will walk that once we identify the property, I will get my crew in, we’re gonna walk that property and then they’re gonna give me timelines on when we can have this done. But for the most part, we’ve trying to get in fast. I’m looking for a thirty to sixty day turnaround depending on what their property looks like.

Dylan Silver (06:35)
Let’s talk about managing contractors and subcontractors. This can be sometimes a pain point for people, right? How have you been successful at managing these rehabs?

Natasha Joseph (06:46)
there. I’m there. I’m gonna pop up. I’m gonna be there in the morning. I need everyone checked in. I need to see everybody is in place. I’m in and out. They never know when I’m when I’m coming. I’m gonna be there. I’m gonna supervise. They’re gonna see my face every day, all day, meaning that I may be out showing houses. I’m gonna pop back in. I’m gonna supervise my supervise my project from the beginning to the end.

Dylan Silver (07:13)
Like to ask you about being an agent and investor. as someone who loves both sides of the game myself, I think it’s an interesting niche because sometimes people will tell you you have to focus on one or the other, but they really work well in tandem. Which came first for you, brokerage or the the investor mentality?

Natasha Joseph (07:33)
The invest them investment mentality. That’s what came first. we bought our ver first property back in two thousand and two thousand and six, like right after May of two thousand and six was our first property that we we purchased. And that one now it was kinda like your learning stage, you know, trying to figure things out. Knew that you wanted to be in real estate and it took off from there.

My I can remember my first my second deal after that went out. My second deal, we were building from the ground up. That was the first time. The floor plan was great. But when they went to building, we seen where they had a a mishap as it relates to the living room area. I mean, we had the I could visually see it, it was a two story home. We had the the living room built out where the restroom was supposed to be.

But somehow they had a laundry room right next to the living room. And we didn’t want that there, of course, with the machine and heat from the dry and things like that. We didn’t want that next to the living room. So we had to kind of get in there and kind of switch things around. So that was kind of like a nightmare that I thought we were going to be stuck with it. But when we got that house together, it was it was still beautiful, laid out. And I had to get in there and stage that house. I was able to get that house under contract and sold.

Dylan Silver (08:57)
Now when we talk about staging, this is something that is I think sometimes understated because I mean, you know it as an an investor, it makes all of the difference. You can walk through a home unstaged and walk through the same home stage and it has a totally different table. What’s your approach there?

Natasha Joseph (09:14)
All right, I don’t now the ChatGPT is is different. I don’t I don’t really care for that. to a certain extent, when when I done this this project, it was a ChatGPT. We literally got in there and staged it. And when we staged it, the buyer felt in love with it. Versus we were getting shown with this empty, they couldn’t get a visual of the house. But when we staged it, they wanted to keep furniture, they wanted to buy, they love the layout.

And when I tell you it really was a big whoops it do as it relates to the plans that we had versus what the guys put up. But that stage in that house gave that that buyer a vision. They was able to see it. They was able to envision themselves in that home. And that is important, even when you’re you’re selling. Sometimes sellers may have so much stuff in a home to where

a buyer cannot even see themselves in a home because it’s so much personal stuff. So I I like to declutter. It’s just a lot of different things that I like to do before even putting a house on the market. But I knew with this particular property that we had to stage it to give them that vision because if not, upstairs where it was was looking more rummy. Downstairs was looking congested, like you was not gonna have a ro have any space. But we was able to give them that visual. They could see themselves

entertaining in the house because the yard was space. The ho the back door kinda went out to the yard, the patio. And we was able to give that buyer that vision. So it became perfect for them.

Dylan Silver (11:30)
Now, when we talk specifically about being active in both of these worlds, one of the things that that comes up is well, where does your focus go? So on a day to day, week to week, are you looking at marketing in both realms? Are you looking to find, you know, distressed sellers and then also buyers and sellers? Or do the deals come to you at this point and your your focus more so on brokerage? Where does your attention go?

Natasha Joseph (11:55)
My attention goes on to my clients. When I come up in the morning, I guess on this laptop, I know the needs. I I I will show you. You see my board?

I’m gonna show you my board. I have a board. When I get up in the morning, it’s my to-do list, closing, pre-approval, follow up. That is where I’m working from my my board.

Dylan Silver (12:18)
Now when we look at the full scope of what it means to be active in brokerage, there’s a lot of folks who are looking at specific marketing angles or really mining their sphere, really mining their social networks online, or even expanding into different niches within a a certain geographic market. Hey, I’m going to work with you know people working i in the public sector. Hey, I’m gonna work with military, you know, hey, I’m gonna work with my personal sphere and and contacts.

What’s your approach to lead generation as a whole and and to, you know, finding that next client?

Natasha Joseph (12:54)
I have sold 99 units. It all has been referral based. I have never used a lead generation system. I’ve never. I’ve been introduced at my introduced to them, but my business has been straight referral. I’m very thankful for that. for that, and that’s what’s keeping keep my business going. Word about referral.

Dylan Silver (13:18)
Now, referrals is really the business that everyone wants to get, right? Because these are your warmest leads, people who have pre established a trust and connection to you, either directly or indirectly through a referral. You’ve done this now rinse and repeat so many times, dozens of times. What’s the secret sauce, maybe, without giving away all of the gold here, Natasha? How are you able to generate so much referral business?

Natasha Joseph (13:43)
I am who I am. And what do I mean about that? I was who I was before I became in real estate. I was always resourceful. I was always helpful to the community. I have always been that call and go to person that if you call on Natasha, she’s gonna get it done. So that’s my character been spoken for myself before I became a realtor.

Dylan Silver (14:06)
Let’s dive in if we can, Natasha. I’d like to get a little bit granular talking about what n new client conversations look like. So if I know someone who who worked with you in the past and I decide I’m gonna go and buy or sell my my property, what does that first, you know, intake conversation with you look like?

Natasha Joseph (14:23)
What’s important to you? I want to know what’s important to my client. That is what at first. I’m gonna they know who I am. I’m gonna introduce myself, but I wanna know what’s important to you. You know, I wanna know why you’re selling your house. what are you looking to? what do you gain? Is it you want a quick sell? Are you, you know, are you trying to sell to upgrade or get a larger home? What is your why?

And that is that is what I when I’m sitting with a buyer, y’all wanna know their why. If I’m sitting with a a seller, I wanna know their why. And if they able they’re able to tell me that, that starts our conversation. And then I’m able to offer what I’m able to do to assist them in whichever area it is, whether it’s a buyer or a seller.

Dylan Silver (15:08)
Like to talk about working with buyers now. you’re in Louisiana. I’m a Texas licensed realtor, so I feel like we probably work with a lot of people who may have homes in one or both places. I certainly have a lot of friends from Louisiana. I mentioned to you a good buddy that I have near Shreveport. And one of the things that that immediately comes to mind in in Texas, and I believe there may be a similar

situation happening or market condition happening in Louisiana is there’s a ton of new construction I’m seeing across the Sun Belt in general. Are you seeing a lot of new construction and and and subdivisions happening all throughout the your market?

Natasha Joseph (15:47)
It’s happening in Slidell. It’s happening. It’s happening out in Covington. There are new subdivisions. Over the river in Jefferson Parish, there are there’s a lot of new subdivisions. But it just depends on the person wants and needs. That’s what it depends on as it relates to the new construction. I have sold a lot of new constructions as well. and now it’s a lot of resales being sold.

newly remodeled homes. It just depends on what that client is looking for.

Dylan Silver (16:19)
When folks are considering purchasing, do you at this point look you know for opportunities to get them into new construction because there’s incentives and and and lower rates and this type of thing? Or are there now just as many opportunities in pre owned what does it look like?

Natasha Joseph (16:40)
I mean, I have clients that’s closed with as low as six dollars coming to the table. Because of the houses are sitting long, I am negotiating. I am getting blood for my clients. So w with the market being the way it is and properties are sitting longer, is really giving me an upper hand as it relates to negotiating.

Dylan Silver (17:04)
That aspect of negotiations really is a realtor’s job when we talk about it. You know, why would you have someone in place at this point in time when so much information is readily available? You’re coming to the table with extensive transaction history. You’re an investor yourself, so you’re also thinking as an investor. But one of the things that often goes underspoken for, which clearly you’re doing well.

is that interpersonal emotional component of connecting with your buyers and sellers. That’s a distinct, different mindset from an investor. Talk about that. What’s that mindset like of connecting with clients and prospective clients?

Natasha Joseph (17:43)
I have a master’s in psychology. I before I became an agent, I worked in mental health. I work with people. And even before I got my degree in psychology, I was just that they’ll call me a social butterfly. But I’ve always able to connect with people. I love people. I like to help in people. I’ve always was was there so I can connect I connect with people.

instantly and then when I’m working with someone, I wanna w I work in the best interest of my client. You know, I lay it all out. I they walk away educated, they walk away knowing, they just not anything that they questions they have, they’re gonna call back, they’re gonna ask me any uncertain. I’m there from the beginning to the end. And I think that is the most important. And not even even after the transaction, I am still there. And that’s what I know.

that makes me stand out because I’m not going out there just to close a bill. I want to make sure that this client is satisfied as it relates to their note. I make I I when I’m asking, especially with first time home buyers, I’m asking questions as, what’s your lifestyle look like? You know, what what what do you all that makes a a a difference as it relates to your purchase price, as it relates to your mortgage and things like that. So I’m getting all this stuff up front.

And those are some of those things that a buyer don’t even think to even ask. They’re excited, they’re buying the house. They don’t and and and that’s the difference with me. You know, I’m I’m trying to make sure that when my buyer walk away, they’re excited about their purchase and they’re excited about their mortgage. And guess what? They’re happy to tell their family, their friend that, hey, my agent helped me. My agent, you know, she made sure that my mortgage was where I wanted to be. That’s that’s that’s the difference.

I’m not out here just trying to get a deal. The deals are there. Even with a a market that is rough, I am still out here beating a block. I’m still out here closing deals, you know, and that’s the difference. That is that is the major difference.

Dylan Silver (19:55)
You know, the the referrals that you’re generating, of course, are are being generated through that continuity of care. And you mentioned being there even after the sale. That’s a huge component too, right? Because you never know. I’m I’m sure you’ve had at this point at least a handful of clients go from being homeowners to then either investors or considering investing, and who better to call than the person who sold them their homestead? I wanna ask you about

That follow up, right? Because sometimes we tend to think that the sale ends at the end of the sale, but you’ve been able to to extend that into a a pretty sizable referral network. This is something though that can sometimes burn agents out. And I’ve heard this. You know, I’m doing so many transactions a year, I’m doing millions of dollars in transaction volume, and you get burnt out. Have you been able to follow up with your clients and then also, you know, avoid burnout?

Natasha Joseph (20:46)
I wasn’t able to evolve burnout because it just happened to me recently. early part of July, I was hospitalized. I was burnt out. I was burnt out, dehydrated, not even realizing that I wasn’t taking care of myself. So it laid me in the hospital for four days. And those four days I slept. I I I kind of ran everybody that came to see me, I ran them out of the hospital. I was just sleeping, right?

So what I’ve I’ve did is more now most self care. I went on a couple of vacations because that I I needed to cut it off.

So what I started doing is

Natasha Joseph (21:26)
Anytime, and I’m picking up the phone. I mean, early in the morning, late at night. It’s a 911 emergency, right? Yeah. The investor, they find something, they’re trying to jump on it, and I was just there on the dime for everybody. I had to have that conversation. Work starts at nine for me. I’m delivering, having my phone on Do Not Disturb and Silent, because even on Do Not Disturb, they’ll still ring my phone.

So I’m I’m returning calls. I’m I’m nine to eleven. I I’m I’m here at this laptop. After that I’m out on apartments. I’m sticking to my schedule. I have if you’re not on that board, if you’re not in my calendar, it does not exist.

Dylan Silver (22:11)
It doesn’t exist. I’ve even thought of getting a second phone. That way I’ve got my real estate phone and then I’ve got my phone where I can, you know, read a Kindle book or something like this on it or watch

Natasha Joseph (22:21)
And

I and I I have a second phone and and if you’re not answering that one, they’re on the personal phone, they on the media finding it. They’re not a look you up. Nothing

Dylan Silver (22:29)
You’re found somewhere, right? Nothing is off.

Natasha Joseph (22:32)
It’s private. Yes. But that is where I’m at now. That’s my now.

Dylan Silver (22:37)
When we talk also about investing, going back to to to that, you know, there’s a lot of folks who are trying to determine where they best fit as an investor, whether that’s in as a flipper, whether that’s, you know, short term or or long term rentals, or, you know, should they be the cash partner, you know, financing a multifamily deal and the silent partner there. Where do you think, you know, folks should

evaluate, how should they evaluate themselves when they’re looking at what type of deal to get involved in.

Natasha Joseph (23:12)
I think people need to know their niche. They have to know what works for them. You know, everybody, I believe everyone has a gift. And when you find that gift and you’re working in that gift, it’s different. You know, you can feel it. It’s heartfelt. It’s, you know, it’s abundance when you’re working in that gift versus doing something just because you’re, you want to make this money.

It’s i it’s a difference. You know, it it can’t your why can’t always be money. Don’t get me wrong, money is a tool, is a resource. We wanna make money, but it should be something bigger than that.

Dylan Silver (23:48)
No question.

Natasha Joseph (23:49)
And that is where I think this that they shall lane on as it relates to investing. Because right now some investors feel like they are holding on too long to the property because of what’s happening. You have to be prepared for that. What w what is your

What is your plan? What is your your part? What’s your plan be if you’re investing and your money is tied up and your your houses are sitting? So that’s that’s something to think about.

Dylan Silver (24:19)
There’s a lot of people I and I I’m sure you come across some too. and it’s pretty remarkable, right? You can have so many rentals but still be cash poor, right? You’re gonna have dozens of rentals and be cash poor. Or a dozen rentals and still be cash poor. And this happens because, you know, people will take their savings down to a thousand dollars or a few thousand dollars to finance the next deal. And and then you know, you just gotta keep it going, right? ‘Cause otherwise

Natasha Joseph (24:44)
If

the house is set and they they keep calling the age and it’s nothing is wrong with the house, it’s that sometimes it may it’s just happening that way we are not priced right. That’s important too. To be priced right. You know, everybody wants to make the big dollar. But if we put that market that house on the market for three hundred thousand and it’s worth two hundred and fifty thousand, it’s really gonna mess us up. And that’s the stuff that’s that is what some sellers has to understand too.

And when I’m I’m doing listings and I’m talking to my sellers, I I’m firm in that area. I’m I’m firm because I’ve seen it happen. I’ve seen it happen. So it been times where I had to walk away from a listing because that seller wanted to list it at this price. And we was not, you know, I I’m showing you what the numbers, I’m showing you what the market is and our competition. If you wanna sell, here’s where we need to be.

Dylan Silver (25:38)
We are coming up on time here, N Natasha. Any new projects or activities that you’re working on? And then also anything you’d like to mention directly to our audience.

Natasha Joseph (25:46)
Okay. All right. I am Natasha Joseph. I have a website you guys can go to, theexecutionqueen.com. My Instagram handler is @natasha_the_realtor. Facebook, I am the Natasha Joseph. I am working on a project that I just cannot reveal right now. I really can’t, but it’s for the community. It is, it is to help the community.

she builds Nola Hope. And right now that’s my baby. And I I it it’s not ready to be burnt forward, but I am working on it and it’s coming soon.

Dylan Silver (26:26)
Natasha, thank you so much for joining us today. Thanks for your time.

Natasha Joseph (26:29)
Thank you for having me.