Real Estate Investing Mastery Podcast

I’ve been getting a lot of questions lately about my tools, my systems, and my CRM because my students want to know if they can keep it simple, or if they need to track their leads like me. A lot of people are thinking, “I want to do deals, but all of this technology stuff is just overwhelming.” I’ve got the 1980 edition of Robert Allen’s book Nothing Down, which is over forty years old, and 98% of the stuff in this book is still relevant today. Because while there’s been a lot of changes in the technology side of real estate, the principles are still the same. I embrace change. I love it! But you don’t need all of this advanced technology stuff to get started. When I first started in real estate, I was tired of being on the computer all day at work, so I developed the “manila folder” system. Hot leads, cold leads, warm leads, these all got different follow ups, and I share how I tracked them, and why I did it this way. Some of you are technophobes. And some of you want the latest and greatest. It doe

At about 60,000 postcards a month, Don Costa from the Flip Talk podcast has dialed in on a system that works for him. He holds nothing back today, sharing the tools he uses, the conversations that work with sellers, and how he’s organized his team. Following up on warm leads are where people are too often dropping the ball. 80% of Don’s January contracts were from following up. 80%! Some of his current follow up tools that are working are: —Ringless Voice Mail (RVM) —Cold calling databases —Emails and texts from a CRM —Personal phone calls I used to use those yellow legal pads to keep track of all of my leads when I first started out, but it was so hard to keep track of warm, cold, or hot leads. Don jumped right into using a couple of different CRMS, and he talks about the different advantages of some of them. He warns that you shouldn’t get caught up on the perfect business card, the perfect postcard, the perfect website, or the perfect business name. Just get started. Don’s detailed tracking s

I love meeting with students and seeing how they’re making lease options work for them. And Ray Shurman from America 2nd Chance is proof that you don’t have to stick with just one way of doing business. He shares how he started with lease options and tenant buyers, and why he moved into fixer-upper lease options (FULO). Ray must be a quick study because he’s only been doing this 2 years. He shares how he structured his first deal with tenant buyers, and why he likes to keep the terms simple. He’s found that simple terms help everyone involved feel like they’re not being taken advantage of. One of the beauties of lease options is that you’re not limited to distressed properties. So Ray uses that to find solid deals that promise great ROI. He shares how he finds leads with expired FSBO listings. And this part was really cool to me; Ray’s doing something a little different with wholesaling. Instead of offering lease options to tenant buyers, or just buyers, he’s offering lease options to rehabbers. He find

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Nobody, and I mean nobody’s doing radio ads, and that means it’s a perfect medium for advertising. But there are some misconceptions about radio ads, like the costs or where the audience is really hanging out. Chris Arnold from Wholesaling Inc lays out those misconceptions and the truths about them, and he even includes some of his advice that he gives his own coaching clients. First and most importantly, you are not your demographic! When you’re advertising, you have to think about where your demographic is, and if they’re over 50, they’re not on Spotify. Chris reverse engineers the three demographics on radio and then explains how to target them. I have a local friend that I heard on the radio, and he was so over the top excited that I barely recognized him! But Chris assures me that enthusiasm and local personalities are great selling points for listeners. Becoming that local celebrity and having people recognize your voice builds your credibility and authority, and you become the first person they thi

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First of all, before we get started today, I want to tell you to take everything I say with a grain of salt, and that you should definitely consult a real estate attorney when dealing with legal matters. But now that I have that out of the way, I want to offer up some creative ways for finding and using realtor contracts as the jumping-off point for your own contracts. One of the benefits of using a realtor’s contracts is that they’ve already been written by a lawyer. These contracts have already been written with the local city, municipal, county, and state laws in mind, so any tricky local laws you might run up against have already been accounted for. You could straight up ask a realtor friend for one, or you could get your own real estate license so that you could access one, or you could ask a realtor’s association for one. Some of the associations might copyright their contracts, so you’ll have to tread lightly if that’s the case. When I use these contracts and come to the part for the broker stuff

Dealing with probates and tax delinquents requires a little bit of care and finesse, which Jason Lucchesi from No Flipping Excuses, is happy to provide. He opens up about all of his tips for chasing down leads in this podcast, and how to navigate the difficult conversations you have to have with people as they’re dealing with the loss of a loved one, or losing their home. Marketing himself to folks with quit claim deed, AOD, or deeds with the name “trust” on them are just a few of the ways that Jason finds probate leads. Most of the time these leads are older folks who are looking to downgrade from their big house after their partner has died. Jason’s built a relationship with local attorneys who know he’ll purchase a home quickly and fairly. Jason shares the tools he uses to purchase data, and he points out that in non-disclosure states, this information may not be online. Building relationships with elder care professionals and county clerks help him work around some of those limitations. Many times p

On his platform, Lending For Deals, Matt Bell currently has 132 lenders in 50 states with all kinds of deal types and credit profiles. Now that is music to my ears. And while they don’t currently do every deal in every state, they do most deals in every state, and they can pull up your best options for whatever address you’re looking at. As an operator, you can be incredibly cash flow-sensitive, so having your different options laid out for you in one spot is going to be hugely beneficial. Instead of selling you as a lead to all kinds of lenders who bombard you with phone calls, Matt’s company is a little more like Lending Tree, where you’re paired up with hard money lenders who are the best match for you. Over 10,000 kinds of loans are offered, including: —Rental Lending for BRRRR —Fix and Flip Lending —Construction Lending —Land Development —Bridge and Rehab —And more They have a solution for nearly every credit profile because if you’re doing deals all over the place, sometimes your credi

Real estate experts love to focus on so many different things, like wholesaling and raising capital and flipping houses, and oh, rehabbing too. All of these scattered focus shows up in their bank balance. They work 80 hours a week so they don’t have to work 40 hours a week, and they listen to that voice that tells them to hustle their face-off. Who gave you that vision anyway? Shaun McCloskey knows this culture well, and he wants you to have a better vision. 85% of people don’t like what they’re doing, he says, and not many of us are keeping our New Year’s resolutions either. We want some change in our life, but we don’t know how to make that happen. For 13 years, Shaun’s been coaching high-level entrepreneurs to create a vision that allows them to live the life they want. He starts with their vision first and then helps them build their business around that. He breaks that down for me and then shows me what that kind of work looks like for some of his clients. By helping his clients combine what they l

When I got started in real estate, I bought a lot of courses. You could even call me a course junkie because I spent so much time buying them and so little time actually doing what they told me to. Justin Wilmot had a similar beginning, and in that way, we are kindred spirits. When we started actually doing what the courses told us, our wholesaling businesses started to take off. A lot of people ask, “Does this course work? Does that course work?”, and sure, they all pretty much work. But, and this is the key part, you have to follow through and do the legwork. Justin’s key turning point was when he invested in a mentor that followed through with him. Having someone he was accountable too, and having invested his last dime in the business, Justin had no excuses and no way to move except forward. Stop asking “What if?” and start asking “What next?”. Stop making excuses for your inaction and just start working on the business that you’re thinking about. Justin’s business has grown a lot in the last few ye

I’ve been working with my own sons teaching them how to flip land, so it was really great to talk with Willie G about his experience in the vacant land business. Willie started out as a banker at Wells Fargo, but quickly realized that being an entrepreneur was a better route to success than the corporate world. He gives some great advice on how he has scaled up his land flipping business, and some predictions on where it will go in the future. One of the really great parts about flipping vacant land is the scalability. You don’t have to manage a big team to do it. Willie did his real estate flipping on the side of his regular banker job until he made $50,000 in net profit for two months in a row, and then he realized that he had enough cash flow to just walk away. He realized pretty early on that very few people can pay cash for land, so he increased his buyer pool by offering term sales and found that that’s where the real money’s at for land flipping. My sons and I have been using neutral mailers to tar

I know there’s some of you who are out there wholesaling and making $20-$30,000 a month, but if you stop buying and selling, you know your income is going to go down. So you think about it, and then you may decide to keep a few of your very best deals to try and create some cash flow in your business. But really, what is your long term strategy for building wealth? Russ and Joey from Wealth Without Wall Street break down for us the idea of infinite banking. Nobody’s really getting excited about a savings account. The interest you earn is just dinky, and it’s really more like a holding place or a warehouse for your money. In a savings account, your money is accessible, but that’s just about it. Infinite banking is redirecting your savings into whole life insurance policies, just like the bank does. The policy Russ and Joey recommend is a dividend-paying whole life policy that’s in a mutual life insurance company. This isn’t like your uncle’s policy with some sort of steady premium. And it doesn’t have an i

Almost straight out of high school, Jason Roberts and Rachel Schneider started their own mortgage company in St. Louis. Working 12-15 hour days, they were able to find great success…..until the market crashed. After filing bankruptcy, losing cars, and a primary residence, they were literally at their rock bottom. But what could have been a disaster ended up being a huge blessing in their life. They had the chance to step back and figure out what they really wanted in life. They already understood what makes a business successful. And when it comes to businesses, if you understand the mechanics, the vehicle doesn’t matter. So they took everything they knew about running a successful business and started buying short sales. Because they had lost literally everything during the crash, they didn’t even have enough money to use direct mailings. So they took the foreclosure data, ran it through whitepages.com, did a reverse address search, and started calling the numbers that popped up. They realized that the

In 25 years, real estate hasn’t changed much. It’s still a relationship business that requires negotiating and huge trust between parties. But the tools we use to find leads, fund transactions, and find reputable buyers is very different. Cameron Dunlap from Real Estate Wealth Network goes deep today on the app he built, the funding he currently does, and how he finds cash buyers. If your phone’s not ringing, you’re not making any money. Real estate business requires constant leads, and that can be a problem if you’re chasing down unmotivated sellers all the time. Dunlap spent 2 years developing a software that lets him scour public data and clues him in on which properties would be a good lead. He measures 19 different data points, including liens on the house, age of the mortgage, and home equity. Using an app that doesn’t rely on an algorithm, like Zillow or Redfin do, means that Dunlap’s data is more precise. It’s like having a full time VA scouring the market and looking for specific properties, but

Don’t just make more money in 2020: make more profit. This is the year you need to simplify your business and focus on the right things that will help you navigate any change coming your way. I’ve given a lot of thought to this, and I have over fourteen key things that you should focus on in 2020. First thing’s first, forget the hustle. Spend more time thinking and reading and planning this year so that you can spend the time you actually work operating at high peak efficiency. We are not in the real estate business, regardless of what you may think. We’re in the marketing business. Never stop marketing because leads are the lifeblood of your business. As the market shifts, you’re going to need more cash on hand. If you want to survive a slowdown or a recession, you need to protect yourself from being overleveraged. Don’t take on too much debt right now. Take some time to focus on profit and in order to make that profit, you have to make offers, make offers, make offers! It is the number one rule in real

Description: Check Out the “One Deal” Lease Options Case Study: https://www.onedealcasestudy.com/

Description: Check Out the “One Deal” Lease Options Case Study: https://www.onedealcasestudy.com/

Description: Check Out the “One Deal” Lease Options Case Study: https://www.onedealcasestudy.com/