5 Common Real Estate Investing Mistakes Investors Make

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I have to confess that I'm guilty of this.   Wholesaling houses is often presented as the easiest way to get into real estate investing.    Sure it doesn't require much capital and it can generate incredible profits.   But the truth is that for beginners, wholesaling can be tough, scary, and even a little intimidating.   Michael McDonald started wholesaling a few years ago in a small midwest market, but he's grown that into a team that does deals all across the country.   What I loved about interviewing Michael was his openness to share his struggles (5 months of prospecting with 0 deals) and how he got through the struggles and on to closing 6 deals in the next 6 months.   ⏰ TIME STAMPS ⏰ 00:50 Michael McDonald Gets into Wholesaling 02:15 Experience with Real Estate Gurus 03:07 Investing in Real Estate Education 05:51 Breaking Your Own Beliefs 08:06 Maxing Out Credit Cards for Education 09:50 When to Quit Your 9-5 12:07 From Solo-Preneur to Partner 14:03 What Makes for a Good Partnership? 17:21 Going from Doing to Managing 19:06 Learning Leadership on the Job 21:30 How to Hire for Real Estate Investors  23:19 What KPIs Matter in Wholesaling Real Estate 26:04 The Best Marketing for Motivated Sellers 29:20 The Reality of Wholesaling Real Estate

Wholesaling Beginner Blues (Michael McDonald)

When you're flipping a house, do you REALLY need to pull a permit?   On Justin's first flip he didn't pull a permit and tried to do his renovations quickly, which makes for a great story for us to learn from. Let's just say his answer to the age old question has flipped around since that deal.    Justin is the head of Ballpoint Marketing and Call Porter, two companies they use in their own real estate investing businesses (operating in multiple states) that you can put to work in your business as well.    Ballpoint Marketing - Handwritten (by robots) direct mailing service for real estate investors https://reiclub.com/Ballpoint   CallPorter - US based call answering service for handling inbound phone calls from motivated sellers https://reiclub.com/CallPorter   ⏰ TIME STAMPS ⏰ 00:00 Justin Dossey - Ballpoint Marketing 00:45 Call Porter & Ballpoint Marketing 02:00 Why Direct Mail Is Coming Back 05:00 Omnipresent Marketing 06:30 Adding value BEFORE the sale 07:12 Relational Sales vs Hard Push Sales 08:42 Big Data & Direct Mail Response Rates 11:52 Flipping Condos 16:36 What NOT to do in Real Estate 20:40 Should you pull a building permit? 22:02 Direct Mail + Inbound Call handlers 25:09 Real Estate Investing Challenges 29:18 The Obstacle Is The Way   Watch This Video on REIClub.com:    https://reiclub.com/real-estate-podcasts/flipping-houses-need-a-permit  

Do You REALLY Need a Permit? (Justin Dossey)

Brad Chandler knew he never wanted to work for someone else, so when an investor flipped Brad's neighbor's house he saw the potential. So every night after putting his son to bed Brad would place bandit signs and hand address envelopes to find his first deal. After a few months he still didn't have a deal, but he stayed persistent and after 8 months of searching he landed 6 deals and quit his job.   That's when a few tips from his real estate mentors helped him take off. From "We Buy Houses" signs in every front yard, to advertising deals as "Handyman Specials" (from Ron LeGrand's cassette tapes) Brad's marketing machine began to pick up steam.   Then one day Brad was working with a coach for his son, when the coach noticed that Brad had a nervous tic when recalling his childhood memories. That's what started Brad on the pursuit of happiness, which took him back to his childhood to confront some of the traumas he faced. It turns out the secret to happiness is exploring your subconscious mind and learning to control the thoughts that it spews out.   But when Brad looked around, he saw a lack of self-love everywhere he went. Alcohol abuse, drug addiction, and failing marriages are some of symptoms of subconscious unhappiness. So Brad set out on a mission to help every entrepreneur learn to love themselves and be happier. So join his Facebook Group and take his 60-Second Self-Love quiz with the links below. The 60-Second Self-Love Quiz https://bradchandler.com/love How to Be Happier (for Entrepreneurs) Facebook Group https://www.facebook.com/groups/howtobehappy/   ⏰ TIME STAMPS ⏰ 00:00 Brad Chandler - Real Estate Investor 03:20 Dead End Job 04:30 First Deal 05:40 Real Estate Mentors 07:10 Ron Legrand Cassette Tapes 08:45 Ask This Question 10:10 Scaling Up 12:30 Implementing E-Myth 13:40 Money Pits 15:45 Childhood Programming 17:40 Subconscious Unhappiness 19:07 Brad's Mission 23:15 Happy Childhood 26:15 Fight or Flight and Creativity

Love Yourself Like Your Dog (Brad Chandler)

What are the pros and cons (or downsides) of real estate investing? The pros of real estate investing are pretty well known, the ability to use leverage (debt) to buy properties that generate passive income (cashflow) that also appreciate in value (equity) while giving tax benefits (depreciation). But every investment has its cons, some of real estate's downsides are market volatility, bad tenants, vacancies, maintenance, and legal/regulatory issues. Basically it comes down to tenants, toilets, and termites. Tony Javier's career as a real estate investor was almost derailed by those downsides. Luckily he didn't listen to the naysayers and dove right in, acquiring 10 rental properties in just a few years using the BRRRR method.   ⏰ TIME STAMPS ⏰ 00:00 Tony Javier - Real Estate Investor TV consultant 01:00 Carleton Sheets - Real Estate Infomercial 02:03 BRRRR Method Success 04:57 Dropping out of College 06:30 Toilets & Tenants 07:35 Worst Deal 17:06 TV ads for Real Estate Investors 22:00 Founding 10X TV 25:30 TV ads in big vs midsize markets 29:18 TV vs Direct Mail 32:49 Why 10X TV?

Dark Side of Real Estate Investing (Tony Javier)

Scammers are just a part of life, but Dean Rogers learned how to do 'deeper' due diligence after he got burned by a known criminal. Dean lost $180,000 but sees how he could have avoided it by trusting his gut and making a few more phone calls to other people involved in the deal. Con-men (and Con-women) know that most people want to trust other people, and they abuse that trust to scam people. To avoid scams in real estate (or anywhere) just remember this quote: "Trust, but verify." - Ronald Reagan    ⏰ TIME STAMPS ⏰ 00:00 Dean Rogers - Real Estate Investor 01:43 Football Career & NFL Signing 09:54 Deciding to Retire 15:30 Corporate Life Letdown 16:20 Getting First Wholesale Deal 22:19 Real Estate Investing 101 23:47 Co-Wholesaling to Going Solo 28:08 Real Estate Due Diligence 29:31 Red Flags & Real Estate Scams 38:02 How to Expose the Scammer 45:00 The Deal Champs Podcast

5 Common Real Estate Investing Mistakes Investors Make

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