Real Estate Investing Mastery Podcast

The slow flip strategy sounds new for many, but not for my guest today. Scott has been doing this strategy for many years and this strategy that Scott created will break the great rental myth of “passive cash flow” in my opinion.The slow flip strategy is all about buying rental properties like a car and selling them like a house. We’re talking about real passive cash flow from clear and free properties. You pay them for 5 years and you get passive income for the next 25 years at least where you get mailbox money because you’re serving as the ‘bank’ and not as the landlord. I absolutely love this strategy. Scott has about 120 deals under this strategy, with over 50 properties already clear and free. The good thing about this? Scott has been doing this without the landlord headaches, without the BRRR strategy, and without using banks. When Scott came up with this strategy, he was looking at $30,000 mortgaged houses that are payable for 30 years and his car cost the same amount which he paid off in 5 y

Gavin Timms is telling you how to get creative in order to close more deals. When you position more options, you’re more likely to find something that is going to solve the seller's problem and make you money.When you first start working on an offer, find out why the seller is selling. Get to the core of their problem. Is it the house? Can they not afford their payments? Is it just that they don't want to deal with it anymore? Whatever their problem or reason for selling is, use that to your advantage when creating your offer. If you provide them with options that are going to solve their problems while closing the deal, it’s a win-win.Once you’ve figured out their problem, keep asking questions and gaining more information. You are going to be repeating this information back as you present options to them. Once you figure out how much they’re looking for out of the deal versus what you’re willing to pay, you need to present this carefully and strategically. Prepare the seller for the low offer so that you ca

Today, I give you a sneak peek of the first hour of a class I did with Vena Jones-Cox over Zoom. Vena is a really experienced investor and leader of the OREAI National Real Estate Investment Summit. She gives you the details and how to do “subject to” deals, a really creative and profitable way to buy properties.A “Subject To” is a deal in which you purchase a property subject to the existing loan. This means you have found a seller whose conditions are right for you to take over their payments. These are really unique because the borrower, the seller’s name, actually stays on the mortgage, but you are the one making the payments.I am sure you’re asking why would I want to make payments on someone else's loan? How does the house legally become mine at closing if the seller’s name is still on the mortgage? Vena goes over several examples of her own experience with “subject to” deals. She talks about what to look for, when it is the right deal, how to maximize the profit, and how to know the deal is right

What do you do with dead leads? Do you realize you’re leaving money on the table? Gavin Timms interviews Chris Craddock, who shares the benefits of partnering with realtors.Chris shares his secret to making the most out of a dead lead. When you’re making offers on leads, there are some that are going to fit right into your wholesale deal. What about the rest? Someone is going to make money on that.If you’ve got a lead that is out of your buy capacity, this is where a realtor comes in. If you can partner with the right agent, you’re getting that referral fee and making money that is otherwise untouched. Why wouldn’t you do that? There is literally tens of thousands, even hundreds of thousands of dollars just being left on the table, when you’re not working with realtors to get properties out of your wheelhouse bought and sold.Happy. Hungry. Humble. Smart. These are the 4 attributes you’re looking for in the realtor you partner with. You’re only as good as your team, so it’s up to you to find the best.Making th

It may seem like you need to throw a lot of your own money down to buy a property, rehab it, and rent it out. But with a simple strategy called the BRRRR Method, you can position yourself into property assets via refinancing and you don’t have to invest any of your own money.David Dodge is basically “the BRRRR guy,” so he’s here today to break down exactly how it works. BRRRR is an acronym, and if you follow the steps, you’ll be making deals without putting your own money down.The B stands for Buy. You have to buy the property. Find properties at a discount by looking for motivated sellers. The first R stands for Renovate. You can get private investor money to cover your reno costs. The second R is for Rent: you rent the property out to secure your cash flow. The third R is for Refinance, and this is really the heart of the strategy. And the final R simply stands for Repeat. You’ve worked the method and made the deal, now go start the process again!David also explains how to work with local banks and bui

I am live on Zoom, Facebook, and YouTube in this episode. I've collected some listings from this Zoom call and I am going over them with you here for the first time. I am detailing how to find comps, calculate the ARV, and prepare an offer. When you're looking at a listing, it's important not to do too much research before you talk to the seller. However, you do want to be clear on the best fit price for the property. I check several listing sites, the MLS, find the rental value and create an average value. This is key when preparing any offer.Building the best offer is going to include options. I love a 3-option-offer because you’re giving the seller choices and creating a better opportunity for yourself. Option 1 would be a cash offer; this would be the lowest price because your seller doesn't have to wait for the money. Option 2 is a lease option; this is a middle ground price, and you'd be paying monthly for the house. Finally, option 3 is an owner-financed offer; this is going to be the highest cost

I’m doing another live Q&A with my students today, and they’ve submitted some great questions about lease-option deals that I’m excited to answer.First, we have a quick discussion about state laws pertaining to lease option agreements. You definitely want to check the laws in the state you are doing your deals in so that you are sure that you are doing everything the right way. In Texas and North Carolina, for example, there are a lot of extra steps that you have to take to do lease-option deals, and we go over those steps in detail.Next, we go over some credit recovery programs that use rent payment history to help build credit. Services like these are great to offer tenant buyers to help them qualify for a mortgage. This builds goodwill with your tenant-buyer, and helps you sell the property in the end. It’s all about creating win-win situations like this.Plus, we talk about home warranties, making offers in high-demand areas, seller motivation, and using your follow-up to create deals when there don’t

Want to make more money for less work? Of course, you do! We all do. That’s why Gavin is interviewing Michael Schwartz today. He’s going to tell us all about how he was able to accomplish both of these things by spending time and effort building a good team.It’s all about working on the business, not in the business. Michael learned the hard way that when he was doing everything himself, leads were slipping through the cracks. There’s just only so much that any one person can handle. By partnering up with another investor and hiring a “boots on the ground” guy to look at properties for him, Michael was able to free up his time, while also getting more deals done.Gavin likes to break real estate investing down into three phases. Phase 1 is learning the basics, and get some deals done. Phase 2 is when you start to grow and add to your company by outsourcing and delegating. Phase 3 is when you can sit back and watch the business run itself.It takes time and works to get there, but Michael is about to move from P

We’re continuing our Most Common Questions series today with Part 3.We’re doing a live Question and Answer session today with some of the most common questions that I get regarding lease options and creative financing deals. I got a ton of great questions, covering things like partnering with realtors, tenant insurance requirements, and an update on the current laws regarding sly dialing and sly broadcasting. We also talk about Freedomsoft and Propstream, working with virtual assistants, out-of-state property management, and much more.Enjoy this Q&A and I hope you got a lot out of this!What’s Inside:—A live Q&A session with my students.—How and why you should partner with realtors.—The difference between sly dial and sly broadcast.—What should your monthly budget look like?

One of my favorite investing strategies is to find a small niche that you can dominate. Our guest today, Nick Fulmer, did exactly that in the special area of recovering surplus funds and overages.One of the things we talk about a lot on this show is how, in real estate, we really are helping people solve problems. They need money, or they need to sell their house so they can move, or whatever the case may be. Well, Nick found that by recovering overages and surpluses, he was able to help people even more.In a nutshell, when someone doesn’t pay their property taxes, the county will come in and auction off the property. But, since it’s an auction with investors, the nature of the bidding usually drives the price up, and the property sells for more than what is owed. The county doesn’t keep that money, but they don’t do a good job of letting the homeowner know that they can make a claim.That’s where Nick comes in. He works with the county to recover the money and takes a percentage of the overage as a commission

Gavin Timms has a brand new format on REInetwork.com and he’s brought two of his clients, Pamela and Terry, on today to tell you all about it.They’re about to close out 100k in their first month. Talk about massive action! They really dove into the program and ran with it, and the results speak for themselves. They’re here today to tell us all about it.The real secret is in their partnership. Terry is the “go-getter” sales type, while Pamela is keener on the organizational side of things. By working their strengths together, they’ve managed to close on two really big deals right out of the gate. By being aggressive with their marketing, and consistent with their follow-up, they’ve found success.We also discuss the importance of taking time off, both from the business and the business partner, so that we don’t lose our minds to real estate. It doesn’t matter how successful you are; if you’re miserable, what’s it all for? The best thing is that by going full-time into real estate, Pamela and Terry both have the

I got so many questions during my first live Q&A session that I had to come back with a second episode!We’re doing a live Question and Answer session today with some of the most common questions that I get regarding lease options and creative financing deals. We cover choosing a virtual market, whether or not you should market in war zones, lease option legality issues, and more. Plus, we discuss different marketing strategies, subject and seller financing, and forming your own LLC.I have even more questions to answer, so this is only the second part of a small series. Be sure and stay tuned for the rest of the Q&A!What's Inside:—A live Q&A session with my students.—Choosing a virtual market: hot market or low competition?—Legal issues with Lease Options in Texas and North Carolina.—Why and how you should form an LLC.

Is it possible to maximize your ROI while, at the same time, minimizing your risk? We’re going to find out today, thanks to special guest Matt Theriault from Epic REI TV.I always thought that the higher the returns on your investment, the higher the inherent risk. And to some degree, that’s true. But you can beat the odds by changing the game a little. The key is to diversify into an uncorrelated market space. Basically, don’t put all of your money into real estate, because if the real estate market decides to tank tomorrow, you’ll be completely out of luck.There are a lot of different ways to do this. You can buy a car, and rent it out on rideshare apps like Turo. You can invest in a life insurance account, with slow but guaranteed returns. The real key is to always keep your money working for you. Or, you can do what Matt did, and start investing in cryptocurrencies.Things really started to take off when Matt figured out that he could borrow money using his cryptocurrencies as collateral, without actually s

Whether you’ve been investing for years, or are just dipping your toes into the real estate markets, I believe that your fundamentals have to be solid if you want to succeed and grow your business. That’s why Gavin Timms is going to be sharing with you his seven key steps in virtual wholesaling.Step one is picking a market. There are a few things to consider when doing this, and he recommends you start with one you know: your local area. Step two, you need to find the cash buyers in that market, and then step three, run your marketing campaign.Step four is really when you start building relationships by talking to the sellers. Find out what it is that they want in a deal, and use that knowledge in step five, which is when you make offers.Then, we get to the money step: step six, follow-up Remember, the profit is in the follow-up! And finally, in step seven, we actually close the deal.Once you master these steps, it’s just a matter of rinse and repeat. Talk to more people, make more offers, follow up on m

If you’re like many real estate investors, you’ve steered clear of mobile home parks because they seem both confusing and complicated. Well, my guest today, Adrian Smude, found a different way to do things, and he’s here today to tell us all about how he built a business on buying and renting mobile homes with his wife.Adrian works primarily in Florida, so he recommends buying the land along with the mobile home. That way, if a hurricane or something comes and wipes away the mobile home, at least you still have the land.Some mobile homes will require too much maintenance or repair costs to be worth it. That’s why Adrian only works in a small area around his home. That way, he can go and see the properties himself before deciding what to buy, and what to pass on.Adrian also found a lot of success by partnering with his wife. In fact, he named his business My Wife Buys. I know I’ve had some luck in the past by having my wife write, sign, and send letters out to sellers saying “My husband and I are looking at pr

Liens aren’t fun. They aren’t fun to talk about, and they certainly aren’t fun to deal with. But sometimes, the ability to negotiate a lien will make or break your deal.That’s why I’ve brought my friends Gavin and Melissa onto the show today. Melissa recently was able to work a $106,000 lien down to only $6,000, and she’s going to tell us all about how she did it.“It was just really a matter of spending a lot of time and talking to them and explaining to them what was going on and a lot of being nice to people that weren't very nice to me because they're collections people.”That’s really the key. At the end of the day, negotiating a lien is going to require you to use the same negotiation skills that you already rely on to make the deals. You have to reach out and build those relationships, and then people are going to be willing to work with you.Melissa says that this even applies to IRS liens, which are typically the hardest to work with. The IRS is willing to negotiate, but they have a lot of legal hoops t

Today’s show is all about marketing, specifically using social media. Special guest Nate Armstrong is going to tell us all about how he turned his business around by using social media marketing.Look, everyone is on social media all the time, and you might even be watching me on YouTube right now. Why not use these tools to help grow your business?Nate shows us how to combine targeted ads with an organic marketing strategy. You’ve got to get yourself out there on the different platforms. Facebook is a great one to use because of how Groups work. A Facebook group is kind of like your own virtual party; you can create a niche group and bring together a whole bunch of people who want to hear your message.He shows us exactly how to pick a niche and research it on Facebook, and then how to turn that into a working Group or Business Page. Then, once your organic marketing is running smoothly, you can supplement it with paid ads. The ads really just increase your exposure on the platform, so you need to have a good

I had breakfast with a friend of mine, David Dodge, who does a lot of deals. And I was one of the guys who helped him get started about 6 or 7 years ago. I remember when he started, he spent tens of thousands of dollars on education but wasn't doing anything with it.He needed a coach to clear the distractions and point him to where he needed to focus. All I did was give him a scorecard. He created the plan and came back to me every week with a report on his numbers. And that for him is what triggered and exploded his business. He gives me too much credit for it but his ultimate key to success is that he's a massive action taker.But we all need a coach who will be on the outside looking in to help us focus on what we need to focus on. You don't have to have everything figured out but you need to take massive imperfect actions. What are the two things you need to focus on? Marketing and making offer. That's it. Then you find someone who can and will hold you accountable.So, next week, I'll be doing another 5-da

I get a lot of questions about lease-option deals during my live classes and coaching sessions. And it’s little wonder: lease options are my thing. I’ve even written a few books on the subject, which you can get at the links below.We’re doing a live Question and Answer session today with some of the most common questions that I get regarding lease options and creative financing deals. We cover contracts, the limited power of attorney, and seller motivation. We also talk about partnering with realtors, how and when you should exit a lease option, what to do with deposit money, closing procedures, and more.I have even more questions to answer, so this is only the first part of a small series. Be sure and stay tuned for the rest of the Q&A!What’s Inside:—A live Q&A session with my students.—What contracts do you need to do a lease option deal?—A discussion on seller motivation.—Can you do lease option deals without a realtor license?—What’s the quickest way to find buyers for your lease option contr

Doing real estate deals online is amazing. It allows you to make deals from anywhere in the US. But it can be overwhelming to try and pick a virtual market to get started in.Literally, everyone overthinks this. And I get it. When you look at a map of the 50 states, it’s a lot of ground to cover. Where do you even start?Well, the trick is to start small and grow from there. The best areas to start your marketing in are the areas you already know. That means the area you live in, where you grew up, and where you went to school. If you already know something about the neighborhoods, you’re going to be at an advantage when it comes to doing your marketing.And if you have friends or family in those areas, all the better. They can go look at properties for you and help with the boots-on-the-ground stuff that you may not want to pay someone for yet.Once you’ve gotten some success, scale up your operation into the surrounding counties. Then, you can grow on your financial gains and expand into bigger markets. Remembe