Racking Up Rentals

What happens when you get a new Seller lead, and the Seller says "no" to Seller Financing early in the conversation? Is the lead a dead end? Is there a way to revive the Seller Financing possibilities? In this episode, Jeff explains why you should never be hearing "no" from a Seller at the beginning. He also explains that if you do somehow find yourself in that situation, there's a four-step process for bringing Seller Financing back into the conversation and negotiation in a thoughtful and respectful way.

Many people who get involved in real estate investing have a dream: to someday go full-time as a real estate entrepreneur. To many, achieving full-time status may seem difficult or daunting—but it doesn't have to be! In this episode, Jeff goes over the five things that you must do in order to build a full-time business as a real estate entrepreneur: 1) Always be marketing 2) Always be following up 3) Use the Triple-Threat Acquisition Strategy 4) Always be cultivating private money and other sources of funding and 5) Always be cultivating a list of people who want what you have.

The term "creative financing" has become an increasingly common word in the language of real estate investors. But is "creative financing" really that creative…is it just creative in comparison to "normal financing" from banks? And is "creative financing" something to be proud of, or is something to be embarrassed about, that you have to "fall back on" because you don't qualify for regular financing? In this episode, Jeff dives deep into what "creative financing" means, and explains why creative financing isn't really that creative—it's just resourceful problem-solving. And most importantly, Jeff explains why being a resourceful, problem-solving creative financing dealmaker is something to be proud of, even if the rest of the world doesn't understand.

When you're working hard to build a relationship with your Seller—which is exactly what we do as Thoughtful Real Estate Entrepreneurs, there's one very important thing you need to identify and understand about your Seller: what is their "currency"? A Seller's currency is what they value the most, and what they need to be "paid in" if you want to succeed in building a relationship with them. In this episode, Jeff explains the concept of the Seller's currency, gives examples of different types of Seller currencies, and explains how you can "pay" the Seller in their own currency.

Most investors jump on the phone with a new Seller lead and start asking questions that they need the answers to. Makes sense, right? But Thoughtful Real Estate Entrepreneurs don't just ask questions they need the answers to, they also ask questions they ALREADY know the answers to! Why? Find out in this episode, where Jeff explains the two major reasons why it's so incredibly valuable to ask the Seller questions you already know the answer to.

There are so many different ways we can potentially communicate with our Sellers. From text to email to phone to in-person meetings, there are many options. So which ones do we choose? The easiest and most convenient channels? The one the Seller initiates with? No—we choose the BEST one that will best aid in our negotiation. In this episode, Jeff describes the difference between gathering "information" verses gathering "insights," and five-level hierarchy of Seller communication channels, in order from worst to best.

Many real estate investors are very focused on managing their "DTI": Debt-to-Income ratio. Why? Because they think it's the key to qualifying for the loans they need. But being so focused on DTI is a choice, not a requirement. In this episode, Jeff explains how designing your financial life around DTI is like letting the tail wag the dog—it's focusing on the wrong thing. Instead, Jeff explains how to stay focused on the most important things: the game of wealth-building, not the game of loan qualification.

We spend a lot of our energy, as real estate entrepreneurs, generating off-market leads. But many of those leads will require long-term follow-up before they turn into deals. So how do you properly nurture those relationships over time, so that when the Seller is ready, you're their first call? In this episode, Jeff interviews Robert Syfert of www.realestateinvestor.com, who shares experience and expert insights on following up with valuable Seller leads. Robert Syfert is the founder of InvestorPO, Property List Manager, and USA Portfolio Real Estate and visionary for RealEstateInvestor.com. With well over a decade of experience in the industry, Robert has sold and managed hundreds of investment properties and is passionate about giving real estate investors their lives back through software, tools, and services that minimize processes and maximize both free time and profits. Robert's a family man who believes that every real estate investor can achieve success and financial security in this industry—without compromising their free time.

Do you ever feel stuck at a certain level of success in your life? Like you're destined for this level of success…but not more? That's because you've set your "life thermostat" at the current level, and it won't let you get too hot or too cold. In this episode, Jeff shares the metaphor of the "thermostat of your life," an idea from podcast host and businessman Ed Mylett. Jeff shares how this affects real estate entrepreneurs, and most importantly, how we can "turn up" the thermostat permanently so that we can achieve higher levels of success.