Real Estate Investing Mastery Podcast

I started in the wholesaling business when it just didn’t seem like a great time to be moving into real estate. Gavin Timms started in real estate with literally zero experience. We both believe though, that real estate is always a great industry to be in. If you’re short on money, but long on time, we have some solid pointers for how you can make money starting today. First of all, money is made on the phone, and sales is going to be a million dollar skill for you. You have got to learn how to talk to people. When Gavin first started out, he knew that he could get on the phone and talk to anyone. So by partnering with a wholesaler, he chased down her old leads and brought her some new deals. Get on the phone and call everybody you know in the business. Start networking and connecting with other wholesalers to see if you can follow up on their leads for them. Or, if it was just me, I’d make 50 phone calls a day, calling every broker, property manager, or landlord that I know. And I’d ask them two questions

I am so excited about this side hustle opportunity from Lee Arnold of Capital Syndicate. I’ve never seen anything like it before, and the timing couldn’t be more perfect. Lee is a private money lender based in Coeur d’Alene, Idaho, and because he doesn’t rely on Wall Street money, he’s not pulling back during this market upheaval. Instead, he’s looking to invest in more secure, lucrative real estate deals. Lee has all of this private money and he wants to invest it, but he needs help finding deals. He’s looking for a handful of people willing to go through his capital syndicate model to get educated on the types of borrowers and loans that work for his business model, and he’s willing to pay a fee for this work. The biggest distinction that Lee wants you to understand is that he does not lend to owner-occupants or to individuals. He’s looking for a specific kind of borrowing in a specific kind of circumstance. He offers investment-grade loans to LLC, or an S or a C Corp, and his program will explain clearly h

The first thing to realize is that there are no answers. Now that we have that out of the way, let’s focus on the things you can actually do to prepare your business to survive during this economic uncertainty. I talk with Jason Medley from Collective Genius, one of the best real estate masterminds in the country, about the advice he gives to all of his investors. It’s like we’re a bike that’s shifting gears, and right now the gears are grinding and haven’t caught yet. They’re making a terrible sound, and everything feels uncertain, and we’re waiting for them to catch so that we can take off again. We’re in the gap right now. Everything in real estate is paused or waiting. Buyers are pulling out, trying to sit out for a better deal. Sellers don’t want to admit that they can’t make as much money now as they could a few months ago. And you can’t buy. We’re all just waiting for everything to catch and go together again so we can shift into a different gear. While you’re waiting for the gears of the economy to c

Forward thinking Cris Chico from Virtual Wholesaling knows how to look ahead and predict where things might end up because he’s already been down this road before in the last market upheaval. Cris is an expert in using Facebook ads to find seller leads, so he talks about where he sees online marketing heading as the real estate market changes. Picking a market isn’t as simple as pulling out a map and pointing to a part of the country that you think would provide steady returns. Cris shares his leads strategy that decides for him where his next market should be. If you’re ready to get started on Facebook advertising, because it’s the easiest platform to start with online advertising, start with a Facebook business page that makes you look like a real person, and not a robot. Cris shares how he targets his audience, and I was completely surprised since it’s the opposite approach I thought he’d take. How sellers want to communicate in the online world is totally different. They might prefer the entire exchange

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An indisputable law of business is that the more revenue you make, the less profit in terms of net margin you’re going to make. It’s not what you make, it’s what you keep. Alex Pardo from The Flip Empire podcast and I talk about how to shift and scale business as we navigate the shift in today’s market. Do you know those checks on social media showing someone’s profit from their latest deal? They’re fake. They don’t tell the whole story, and Alex has discovered like I have, that a bigger business doesn’t always mean more money. It also means more overhead, more pressure, and more time away from your family. So using the Gino Wickman book Traction, and an EOS implementer, he redesigned his business to fit his purpose and his life. We’re coming out of a seller’s market and going into a buyer’s market. Alex describes how the smaller teams he’s downsized to is pivoting to this new market, and what marketing is working for him. To him, it seems like the hottest marketing trend quickly becomes old, so shifting bac

If you’re a collector of courses, then what you need is this 30-day challenge group in your life. Gavin Timms and I have done this before and it was hugely successful for our previous coaching students, so we wanted to offer it up at a time when everyone has a lot more time on their hands. Starting April 13th, jump in with us and start making offers. Gavin and I are going to be teaching you, with simple, easy scripts, how to make offers on the phone. We’re going to teach you marketing tactics that work. Gavin and I even role play a couple of scripts to show you how easy this can be. We’re going to be teaching you the fastest way to get leads, using cold calling and SMS texting. We’re not going to overcomplicate this with VAs and fancy, complicated triple dialers, although you can use those things if you want. The challenge group will offer daily support the first week, and then coaching calls three times a week after that. Plus, you’ll have access to a private Facebook group where you can show up with your o

I’ve said it before and I’m going to keep saying it: There are only opportunities around you right now. Take some time to reconfigure your real estate dreams and start making some money. Sean Terry from Flip2Freedom has shifted over to remote wholesaling over the last 20-30 months, and he has some awesome advice for how he’s reworked his business to adjust for this change. Surprisingly, Sean and I are both seeing old leads bubbling up from months ago as sellers feel a lot more motivation to sell and regain some liquidity. But Sean warns that you have to structure in the COVID-19 pricing, which means offering just a little bit less than what was offered even 90 days ago. Maybe you’ve heard me talk about my success in small towns, but you’re a little nervous that you’re going to get stuck holding the house in a market that doesn’t move. And I get it. But both Sean and I have only had success in these hot little real estate markets. Even in this mess, with everything closed down and everyone working from home, S

There are some similarities between right now and 2008 when the liquidity was sucked out of Wall Street, but there are also some key differences. Rob Swanson and I have both navigated one crash before, and Rob’s spent a lot of time looking for patterns in previous market crashes. Getting back to real estate fundamentals is going to help you navigate this crazy market. Because the market’s been good for so long, some mediocre real estate investors have managed to look good. A great market makes everyone look good. Ask yourself the classic real estate question as you approach any deal, “How do I make money with this?”. Don’t buy without solid numbers to back up that deal. Make offers, make more offers, make lower offers, make better offers. Don’t stop making offers because of fear. Just adjust your offers. All of your old leads become new again as potential sellers start to feel the urge to sell-off. I’m seeing leads from 9 months ago calling me up again, ready to unload their properties, so I urge you to u

Every crisis comes with an equal amount of opportunity, and this is going to be really, really important in the coming weeks and months. First, I’m going to step back and help you do some big picture thinking by outlining some plans you need to put in place, and then I’m going to share where I think the housing market will go next, and how you can capitalize on the opportunity. By studying the Great Depression, I realized that there are some companies that did very well during and after the stock market crash, and I think that we can learn a lot from these companies about things we need to be doing right now. Things like carrying little debt, doubling down on marketing, and so on. Again, it’s important to recognize that opportunity when it comes knocking. Now is a time to create a safe space for your audience. What should that look like for your company? Well for one, you need to be a leader with positivity and optimism. As entrepreneurs, we are problem solvers, so what problems can you solve for your aud

I like to think of myself as an ethical wholesaler, but there are a lot of guys out there who aren’t. States are getting smart to wholesaling methods that aren’t ethical and that rip off sellers, and that’s what we’re seeing with Oklahoma’s legislature. Because I don’t want you to worry, but I think that you should be cautious, I’m going to lay out some things you should keep an eye on going forward. Broke wholesalers are tying up properties all over the country. They hear that wholesaling is the fastest, easiest way to make money in real estate (and it is!), but they’re going about it the wrong way. And it’s giving wholesaling a bad name. They’re doing the daisy chain method of wholesaling and bumping up the prices of properties while stringing along a seller who just wants to sell their home before it’s foreclosed on. Number one, if you’re going to be an ethical wholesaler, you have to have the means to actually close on the property. And number two, you have to have the intent to close on it yourself.

Why would a vacant landowner be willing to sell their lot for so cheap? It’s like the treadmill analogy; because every time they look at the property, they’re reminded of all the things they thought they were going to do with it but never did. I get into the nitty-gritty details of buying, selling, and flipping vacant land with Dave VanSteenkiste from Mile High Rural Land. Land sellers are in a slightly unique niche compared to houses. They’re not often in a distressed situation and frequently own the land outright, especially if it’s been passed down from a parent. Sometimes they’re out-of-state owners, or they’ve just owned the land for years and years with plans to build something someday, but that someday never happened. As a result of their uniqueness, land offers aren’t based on comps like houses are. They’re based on what the rest of the land is currently selling for. Dave walks us through how to assess how much you should offer for a property, and he talks about which tools he uses to decide h

There are so many reasons that someone would opt for a lease option, but they just need someone to structure that deal for them. Even if you have no capital, you can still get into real estate by structuring these deals between sellers and tenant buyers. Lease options are one of the easiest and fastest ways to become an investor without holding a ton of mortgages. A lease option can be very attractive to a seller who doesn’t have a lot of equity in a home, and they need to sell it, but they can’t afford to even pay the Realtor commission. I am strongly, strongly opposed to those people that teach that you should put a tenant buyer in the house only if they can pay you the most money. Everybody should win in a lease option deal. There are three centers of profit on a lease option; cash now, cash flow, and cash later. This gives you the flexibility to create any deal that is attractive to the seller. You can afford to be flexible because you’re going to make money no matter how the deal is structured. 10-

If it feels like the sky is falling, I want to reassure you that what you really feel is opportunity knocking. As the market shifts under us and you can no longer count on appreciation, easy financing, or interest rates staying low, you can still find a way to make money. However, you’ll have to adapt to this new market. And those investors who can adapt to the changing market are going to be the ones who survive. You know the classic book Who Moved My Cheese? This moment is like that book. You’ve got to see where the cheese is moving. Now is the time when creative financing like lease options will help you when the market is starting to trend downwards like it’s currently doing. The market is moving to deals like: —Subject 2 —Owner financing —Land contracts —Contract for deeds —Lease options The beauty of these deals is you can offer the seller any terms they want as long as they’re willing to wait. But you don’t want to hang onto those contracts, and I talk about why that is. There are a l

Whether you think that the coronavirus scare is an overreaction or not, there’s a lot of fear and uncertainty in the market right now. This is definitely the time to be nimble and to readjust your business plan. I’ve had some great success flipping rural land out in Oregon and Colorado, so in this podcast, I explore that idea some more to give you some ideas of how to zig when everyone else is zagging. More than just preppers are looking for vacant land. Hunters and outdoor enthusiasts are also looking for vacant rural lots. They might want the land to build a cabin someday, maybe shoot their guns, or drive their ATVs all over. But you know what? It’s a demand that’s come roaring back with this virus stuff. There are a lot of disadvantages to being stuck on one single kind of deal, and you’ve got to be nimble enough to pivot. If you’ve been offering 80 cents on the dollar for homes in Southern California, then what will you do if the cash buyers disappear. I talk about all of the different ways that real esta

The U.S. is bracing for impact on the coronavirus, and the markets are all over the place. It seems like there’s a daily dose of fear along with every new piece of news, but I’m here to tell you that it’s all going to be okay. I quit my job in 2009 at the height of the recession, and it was honestly one of the best things that I’ve ever done. The absolute first thing you need to think about right now is how much debt you have. Are you overleveraged? Is that fix-and-flip going to sink you if you don’t get it sold right now? Are you relying on a refinance to fix your cash flow problems? Do you have multiple exit strategies if the next deal falls through or if you can’t get something sold? I’m going to predict that preppers and survivalists are going to be looking for great real estate deals, so I share a few ideas about how you could capitalize on that, and I promise more on this subject in the future. When I moved from wholesaling to traditional lease options, I found that it was a safer bet for me becau

When you’re the boss, every month you’re an employee of the month. But if you’re really and truly honest with yourself, are you really working as hard as you could? Are you using the excuse of “hustling” to work through your family’s dinner because you’re really dragging yourself out of bed every day? If I’m going, to be honest, lately I’ve been wasting a lot of my time reading the news and catching up on stuff. Really, it’s not good for me. I’m not even watching things that feed my soul, but just a never-ending cycle of news from all of my favorite news networks. By the time dinner rolls around, I’m scrambling to play catch up with the rest of my day. I didn’t get started on time, so I couldn’t get everything done that I needed to. Instead of pausing to focus on my family, I have to work through dinner to finish all of my work. We forget those basic work principles sometimes as entrepreneurs. All of that “early to bed, early to rise” stuff goes out the window when we can write our own schedule. I mean,

If you come across a seller that absolutely has to sell because of a job transfer or divorce, but they don’t have any equity in their house, what kind of options do they really have? If they sold the house outright, they’d still have to bring some cash to the table to get rid of it, and they don’t want to be a long-distance landlord. There are a lot of different ways to make lease options work for you. Depending on how you structure the deal, you can get all of the benefits of owning an investment property without actually getting a loan or a mortgage. I explain the sandwich lease option, where you pay the seller’s mortgage for him and then rent his house out to a tenant buyer. It’s like cash now, cash flow, and cash later model. If there’s not only no cash flow, but no equity, what can you do then? That’s a great time to use an assignment deal, where the money you make is from the assignment fee the buyer pays you. Even when you find a seller that refuses to sell to you because they think you’re goin

Some things stink pretty fast, like dirty diapers or overcooked broccoli. Leads, however, get better and better with age. If you want to truly be a real estate investor, you have to fully commit to chasing down your leads. If I gave you a bunch of marketing leads today, how many could you close? How many times would you call them? One of my favorite coaching clients told me that she was going to call her leads as many times as it took until they sold their house to her or to anyone else. It didn’t matter who they sold their house to; she was going to get a yes or a no out of them. Here’s a secret: There is no “no”. “No” really means “Not yet”. And she knew that! Your leads need to be followed upon. You need to follow up on your follow-ups. You should have a CRM full of notes about how many times you called and talked to your leads because it takes an average of 2-3 months to make that sale. I would say that it’s 65%, maybe even 95% of all of my sales that come from following up. It is going to be incr

If you remember visiting your grandparents in a senior living facility, you probably have a lot of the same ideas about it that Brandon Schwab did. On a trip to Florida, Brandon accidentally stumbled on a quietly successful part of senior living: boutique senior homes. He shares how he sold off every rental in his portfolio to move into boutique senior living homes, what his numbers are, and how he balances the ethical implications in this business. After realizing the huge amount of cash flow potential in smaller senior homes, Brandon set about finding the perfect home for his first investment property. He describes how he structured the deal, his average profit, and how he filled the house. Because he didn’t want to be the owner/operator, Brandon had to partner up with someone. He shares why he chose an RN, what he looked for when hiring one, and how many hours he has an employee on site. He also shares what that includes, and how much he can charge per client. The sweet spot for senior boutique homes