Today's guest joins the show with over 40 years of real estate experience. Eddie Speed, founder of the NoteSchool, is the authority on creative financing. As one of the first guys in this space, he has done approximately 40,000 transactions in his 40 years. He joins Brian on the show today to talk about why this creative financing can be a game-changer for investors' conversion rates. He walks through a few specific examples of how it works and how it can benefit investors.

Key Takeaways:

*SPECIAL OFFER! Rate and leave a review of the show on whichever platform you listen, and email your review to Brian ([email protected]) to get a free T-shirt!

[2:50] Eddie has been in the business since 1980 when he started buying seller finance notes. He founded the NoteSchool about 20 years ago and tries to find a void in the market that creative financing could fill.

[4:25] Having note sales as a strategy is valuable in this real estate landscape where it's getting harder to find good deals. Eddie outlines three reasons that a wholesale deal won't work: 1. The seller will not accept your discounted price. 2. The seller can't accept your discounted price (because they owe more than you can pay). 3. The property has a weird factor about it.

[7:00] In a market where you pay $0.70 – $0.78 for the dollar, the customer sees your discount, not necessarily what you're giving them. These deals often don't convert. Creative financing can help you take your deals to the next level!

[10:25] With notes, you are able to pay a retail price but get wholesale financing. Since you are in charge of structuring the financing, you can get into the psychology of the seller.

[14:55] Eddie talks about a specific scenario where the financing was restructured. With two notes, you're able to make it so that you're paying a percent, and making a little more than that by the terms of the second note (a little middle-man fee).

[17:05] On the wrap-around note, they'll put a balloon on the whole deal and the difference in between the amortization of those two notes at a much lower price. There are a lot of ways to disguise wholesale financing, including creating terms that seem favorable to the seller but are more favorable to you as an investor.

[22:10] Many of the top real estate investors have gone (or will come) to NoteSchool as a chance to reinvent themselves. Usually, these investors are taking a hit to their marketing costs, and are looking for something else that can help to boost their situation.

[26:30] Making a switch to notes is about taking advantage of the current market we're in — it can really set you apart from your competition. Eddie helps others with notes so they don't have to be solely dependent on transactional income, which can change overnight. Buying notes can help create long-term income from deals investors have already closed.

[30:15] In his 40 years of experience, he has become very focused on the principles that he believes will run true. Eddie is constantly searching for market voids, and how to fix those problems. Today the void is real estate investors' conversion rates.

[32:15] Eddie will be in the southeast in a few weeks: REI Live Atlanta — October 15th, REI Live Birmingham — October 17th, one-day class for members of REI Live October 18th and 19th (Atlanta, Birmingham); the full-day class will have several examples of how this creative financing works.

[35:00] The book is called It's A Whole New Ball Game with Creative Financing. It shows people how you can do something so crazy just to pay retail and be crushing your competition.

Mentioned in This Episode:

Meetings

Daily REIA Show

REI Facebook Page

Brian's Book

NoteSchool

Special Link to Eddie's Book

For more info, please contact Rob at [email protected]

Today's episode features not one but two guests. Jake Stenziano and Gino Barbaro, from Jake & Gino, join Brian on the show today to talk about how they got started in the multi-family business in Knoxville, TN. They share about their first deal, and how they found success by remaining persistent. They discuss some of the main pillars of their business, as well as an event they have coming up that teaches investors about all facets of multi-family real estate investing.

Key Takeaways:

*Rate and review the show on whatever platform you listen to it, and email your review to Brian ([email protected]) to get a free t-shirt.

[2:45] Jake and Gino are investors in the multi-family space, an area of real estate that has become crowded over the past few years for some key reasons. The first is money coming in from international investors so there's a high cap rate. The second is that people don't really have confidence in the stock market anymore. The third reason is that shelter is a basic human need. Finally, there are millions of people spanning several generations that are renting instead of buying.

[4:11] Multi-family is also attractive because of the tax benefits. There's a huge swell that has made multi-family attractive. It is competitive, and in order to compete, it's important to have a structure and strategy in place. Jake describes a little bit of their team's process and how they've had to adapt as the competition grows.

[6:20] Gino got into real estate investing after the market shifted in 2008. He wanted a way to create passive income, and when he partnered with Jake they began looking for their first deal. For Gino, it was about getting the additional cash flow.

[8:15] The best thing that Jake and Gino have done in their business is staying consistent. Multi-family is something that you have to stick with in order to see success; education times action equals results. Some of the most important things both Gino and Jake did when starting Jake & Gino were to get educated and to get coaching. You need to build a network around you with like-minded people. Today, their students have done over 4,000 deals because of the structure they put into place when they first got started.

[10:20] Their company works because each partner is able to focus on a different facet of the business. By leveraging other people's time, assets, and skill sets, it can scale into a beautiful thing. They have vertically integrated many of their processes so they can reduce costs.

[12:10] One thing that Gino mentioned is that you have to seek to serve or pay to play. It's so important to find a coach or a mentor, or something that will give you a greater education in whatever you decide to pursue. You may have to put some money up front or be willing to give up your time to learn from someone who is already doing what you want to do.

[13:40] Jake describes how they got their first deal. During the 18-month process, there was constant rejection. They created a "credibility book," and that became their business blueprint. They had to come up with about $83,000 up front.

[17:05] Once they made the deal, it took them about 18 months to stabilize. It was a slow and steady rise while they learned the process, transitioned tenants from weekly to monthly payments, and putting some systems in place to finding tenants, running background checks, etc.

[19:30] What most people would do if it took 18 months to find the first deal would be to give up. If you're just getting started, it's so important to identify and remember your "why." It needs to be strong enough to keep you going. If you don't know your why, you won't be able to understand the how.

[21:35] To find your why, you have to focus on what you do want, rather than what you don't want. Once you know what you want, you can figure out how to make it happen. Jake and Gino each share their own whys in this business. One of the biggest whys that have come out of their whole business is being able to create a nice community for their tenants and employees.

[25:00] Jake breaks down the 42 different ways he gets paid each month because of the multi-faceted nature of their business. It started small: think big, but start small. There's nothing wrong with starting out with a smaller unit and scaling up from there.

[27:25] There are three pillars of real estate: the market cycle, debt, and exit strategy. Every deal is unique, but knowing the market cycle can help inform your decision. Additionally, knowing your exit strategy options is important to get the most profit. You can make excuses that it's never a good time, but understanding these pillars will help you navigate the business, no matter when you get started.

[31:05] They are currently operating primarily out of the Southeast — in Knoxville, TN and Lexington, KY. The Southeast is a pretty good market to be in right now. Pay attention to what happens with tax rates — this is a good indication of what markets might be good for investing.

[33:10] Jake and Gino have a multi-family event coming up; it's an event that's all about action-oriented content. They'll be teaching on their three pillars: buy right, manage right, and finance right. There will also be several networking opportunities, which is one of the most important things in the multi-family real estate space.

[35:30] One of the major things that separate this event from other events is the environment. Their students have had major success, and since they are vertically integrated, they are qualified and experienced to teach on several aspects of the real estate business. They are also still in the business, so they are still buying assets while selling education.

[38:10] If you're interested in the event or getting more information, follow the link below. Or you can email Gino at [email protected]. You can use the REILIVE coupon code to get 15% off the event.

Mentioned in This Episode:

• Meetings
• Daily REIA Show
• REI Facebook Page
• Brian's Book
• Jake and Gino's Website
• Wheelbarrow Profits: How To Create Passive Income, Build Wealth, And Take Control Of Your Destiny Through Multifamily Real Estate Investing, by Jake Stenziano and Gino Barbaro

Today's episode features guest Joe Dillon, a master wholesaler and coach. He joins Brian on the show today to talk about his experience scaling his own business to seven figures. He shares his story, as well as some of the tactics he's used to systematize his business. If you're struggling to get to the next stage of your business, this is the episode for you!

CLICK HERE to go to Joe's advanced wholesale training class Nov. 15-17 in Dallas. 

Key Takeaways: 

[1:20] Joe spent the last five years building a real estate empire after many failed attempts. When he and his partners first started their real estate business, they went several months without revenue.

[3:30] They switched their focus to cold calling, which yielded a huge percentage of ROI. The key to their scaling was systems; they structured the company, automated marketing, and made clear job descriptions and accountabilities. They are now a multi-million dollar business in multiple markets, including virtual wholesaling.

[6:10] Now, Joe coaches experienced investors and wholesalers in systems to help them transition from a hustle to a true business that can scale to the same level his did. So many investors get into real estate for freedom and having a system can help you achieve that freedom.

[8:50] Joe shares the pathway he uses to create an automated business. The first step is to create some cash flow so you are able to step away from the business for a bit to work out the system. Attack narrowly, and focus on efficient means of communication.

[11:30] The second thing is to get your lead generation on as much of an auto-pilot as you can. This is the beginning of your cash funnel. Joe teaches his clients to have all their marketing delegated to a virtual assistant. The only thing you need to do is the high-level tasks of planning: who should you target and how will you do it?

[14:50] Another thing Joe goes through with his clients is an accountability chart of a seven-figure business. This is often an eye-opener for clients to see everything they are doing themselves and helps them to realize what they can and need to delegate. Be aware of where you're spending your time.

[16:45] Many new wholesalers don't know how to treat wholesaling as a business but they do know how to hustle. Hustling focuses more on mindset and what you have to do to make it happen. Joe seeks to help people bridge the gap between a hustler and a business owner. Creating an organizational chart is a simple place to start.

[19:30] Resilience is a huge factor in this business. If you feel like you can't break through, the first thing to think about is what you're actually doing this for. One of the biggest things in determining success is attitude and mindset towards your own success. The only person who fails is the one who quits.

[21:15] After you change your mindset, the next step is to spend time learning how to fix the things that aren't working. People have a tendency to spend most of their time in the performance zone, rather than taking time to assess what is and isn't working. You can evaluate your calls, your marketing; little tweaks can help you thrive.

[24:45] To summarize, make sure your mentality is still in it. Write down your vision and identify your why. After that is set, make a commitment to your vision. Analyze what you're doing, and pivot if needed. Finally, get an accountability partner! Even if they aren't a business partner, find someone you can bounce ideas off of and collaborate with in some way.

[27:15] For Joe's business specifically, having a mentor was huge. They provided guidance on the structure of the business, book recommendations, and above all, accountability. There was also a comradery with other people in the program. Getting experience and accountability from people who have done what you are doing now is invaluable. It's also important to spend time with people whom you can serve as a mentor for, as well as people who are on the same level as you. This helps you experience true growth.

[31:15] Joe has an event coming up in November (15th–16th) where he teaches the information he's been discussing in today's episode. At the event, they'll go through the pathway of the steps it takes to scale your business to the seven-figure level. You'll learn several tactics to help boost and manage your business. They also talk about how to structure your business, and what it looks like on a high level.

[36:05] If you want to learn from someone in multiple markets, there's no one who is doing it better than Joe Dillon. Check the link below for a discount price on Joe's event. 

Mentioned in This Episode:

REI Website

Meetings

Daily REIA Show

REI Facebook Page

Brian's Book

Property List Manager

Traction: Get a Grip on Your Business, by Gino Wickman

Promo Code for Joe's Event

Joe Dillon on Instagram

Scott Orbon joins Brian on the show to talk about several facets of real estate. He is an investor doing a ton of deal volume in the Dallas Fort-Worth area. In this episode, he talks about operations in his real estate business, as well as the mastermind he started with his partner. The discuss scaling, systems, and the importance of fostering relationships to take you further in real estate.

Key Takeaways:

[1:45] Scott has been in real estate for nearly nine years. He started in fix-and-flips but has since moved exclusively to wholesaling. He also started a mastermind, Multipliers, with his business partner, Chris, three years ago.

[3:00] Scott and his team do about 150 deals per year. The DFW market is one of the more competitive markets: more sellers, more competitive, higher marketing costs, etc.

[4:45] Their team is made up of about 13 people and in order to scale, they adopted the traction philosophy. They have an integrator who makes decisions, acquisition managers, an inspector, a lead manager, a disposition manager, closing managers, and a few calling assistants. He and his partner handle the marketing but have removed themselves from most of the day-to-day.

[6:30] In traction, you have a visionary and an integrator. Both Scott and Chris are visionaries, so they brought in an integrator. You are only as good as your systems. For an integrator to be successful, the right tools and departments need to be set up. For smaller teams, an integrator may not be realistic, but you should have someone who is head of operations.

[9:50] The people who are most profitable right now are the two- to five-people-teams doing fix-and-flips and wholesale. When you treat your business truly like a business, you need to focus on three things: structure, roles, and responsibilities. It's hard to scale when you're doing everything yourself.

[12:00] Change is inevitable in business. In his market, Scott has to constantly evaluate his business and make changes. You have to figure out what pivot is right for you and your business. It can be a little bit more difficult for larger groups to pivot.

[15:05] Scott and Chris started their mastermind because they saw the value in being surrounded by great people who are ahead of you and can support you. Relationships get you further and faster, and masterminds help foster quality relationships. For Scott and Chris, Multipliers is a passion project. It's about getting like-minded people together, exchanging ideas, going deep personally, and holding each other accountable.

[18:00] It is the age of the mastermind in today's real estate climate. There's more information available for free today than there was even five years ago. People in real estate are generous in sharing the good, the bad, and the ugly. Every mastermind is great, and they all have something different to offer. One thing they all have in common is relationships. If you can cultivate a few deep relationships, those are the ones that really count.

[22:15] Things like masterminds, coaching, and live events are an opportunity to connect with people and content that will take you further. The information is great, but people remember the relationships. Real estate is an absolute relationship game.

[24:45] When seeking out these opportunities, it's important to put yourself in a strategic environment to flourish. How can you put yourself in an environment to get challenged?

[26:40] For people who are just starting in real estate, get around people, listen to podcasts, and really take it in. Once you're more seasoned, get some coaching or get into a group, even if it means investing money in yourself.

[28:35] Be intentional about the environment you put yourself in. To figure out what is the right thing for you, do your due diligence. Think about what you need at this time, and ask questions to see what's out there.

[30:25] The Multipliers Mastermind is about relationships that stay intact. One thing that makes their mastermind different from others is that they cultivate depth rather than width. The people in their mastermind truly have each other's backs.

[33:40] In some instances, your network translates into net worth. When you connect with someone who can understand your business challenges and finances, the information flow is spectacular. In today's age of technology, relationships don't have to be in the same location. You can create networks across the country.

[36:15] For more information about the Multipliers Mastermind, follow the link below to reach out to Scott and find out what they have to offer and how you can get involved.

Mentioned in This Episode:

Meetings

Daily REIA Show

REI Facebook Page

Brian's Book

The Multipliers Mastermind

Scott's Facebook

Episode 137 with Jamil Damji

Episode 139 with Steven Cavanaugh

In this month's episode of the Birmingham area market update, Rob Drum makes some amazing discoveries in some in-house research he has done when it comes to appreciation in Birmingham.

You won't believe what he found!

Contact Rob at [email protected]

Today's guest is Steve Cavanaugh, a true lifestyle entrepreneur. He moved from Maryland to Florida and operates his business remotely from Florida. In today's episode, he talks about how he set up his business to be able to do this. He talks about his involvement with masterminds and the creation of his own, Ascend.

Key Takeaways:

*Rate and review the show on whatever platform you listen, and email your review to Brian ([email protected]) to get a free t-shirt.

[2:45] Steve has been full-time in real estate for 15 years. With hundreds of deals under his belt, he is a coach, has a rental portfolio, and started and runs the Southern Maryland Real Estate Investors group, as well as various other investment ventures. He's also recently partnered with former guest Alex Pardo on the mastermind Ascend.

[4:25] Steve operates his real estate business remotely, and this is because he was intentional about how he set things up from day one. Too often, people get into real estate with money as the goal, rather than living the lifestyle as their goal.

[6:25] For people that are already in real estate, there are steps you can take to re-prioritize your lifestyle. The easy, short answer is to step back from your business and think about what you want your life to look like. Reverse engineer from there and think about what tweaks you need to make in your business to achieve that.

[7:25] Sometimes making this change means subtracting something in your business rather than adding something. In some cases this could mean losing a revenue source; Steve talks about spreading things too thinly across multiple streams of income, and focus on the one thing that you're really good at. If you clear stuff off your plate, that one stream will increase.

[9:45] Entrepreneurs aren't necessarily known for focusing on one thing or stream of revenue. Steve suggests finding the things that you really love doing in the business, and see if you find ways to do more of that. That's likely where the income and the fulfillment come from.

[10:50] Having coaches and a mastermind has been so beneficial in Steve's life. Coaches or mentors not only share tactics but also help guide the steps. A mastermind is based on challenges, and helping individuals through shared experiences. You have to bring your biggest challenge and be vulnerable enough to bring it up with your mastermind group.

[13:50] Steve and Alex Pardo are developing their own mastermind group, Ascend. One thing that's different about them is that they are integrating a coaching component with the mastermind, where they have one-on-one calls with their students, as well as an in-person meeting to discuss life vision and wrap the business around their life, as opposed to the other way around.

[16:05] In addition to Ascend, Steve has also started Master Mission. He knew that he wanted to make a difference, and knew that involved giving back and donating his time. The group gets together to do mastermind stuff in the mornings, and in the afternoons they get out into the community to help people.

[19:20] Any time we're doing this type of work, the thing that changes more often is ourselves. When we give of our time and resources, something happens inside of us and we seek higher levels of contribution. One of the requirements for the Ascend group is that you have to have a desire to make an impact.

[22:15] No matter how many deals you make or how much money you're making, it is important to get into sometime type of mastermind environment. Start by going to your local REIs or your local meetups. The faster way to build your network is to get out there and start meeting people, and it'll start to happen from there.

[23:25] At the core of networking, it's to figure out how you can provide value to somebody else. If you stay focused on providing value, this will almost always be provided back to you.

[24:40] Steve started his REI about 13 years ago. He started by collecting local business cards and emails to build his buyers list. They started meeting up and have been around to act a networking group since then.

[26:25] Real estate is definitely a people business. If you're already going to your local REI, some other things you could do would be to start your own group. You have to be willing to be vulnerable and open about your challenges. If you put them out there, you will overcome them more quickly and keep moving forward on to the next challenge.

Mentioned in This Episode:

Meetings

Daily REIA Show

REI Facebook Page

Brian's Book

Ascend

Lifeonaire Summit

The Pumpkin Plan: A Simple Strategy To Grow A Remarkable Business In Any Field, by Mike Michalowicz

The One Thing: The Surprisingly Simple Truth Behind Extraordinary Results, by Gary Keller and Jay Papasan

One of Brian's very first coaches is our guest on the show today. A legend in the industry, Joe McCall is here to talk about strategy, selling lease options, and finding balance in your business. In this episode, Joe talks about what tech platforms he's using and his new book on lease options, as well as the importance of centering your business around a strong marketing strategy and supporting it with different real estate venues.

Key Takeaways:

[2:05] Joe is known as the "tech guy" in the real estate guru community. He studies tools, software, and websites he can use to run his business. A few of the things he's digging currently are Zoom, StreamYard, and Restream. These tools help him interact and engage with viewers, even allowing them to view deals in the session together.

[5:15] Joe is also big on Zillow and RedFin. Data that was previously only available to Realtors® is now being made available to the public. You can find sold data and listing data for most cities on the platforms. This is a great resource for investors. A platform people may not have that about is Facebook Marketplace.

[7:05] The best lists you can market to are vacant properties, and these are often available as rentals listed on Zillow. Joe and his students have had success in sending handwritten letters to the owners of these rentals. When you know how to do lease options, you may be able to offer them more than other buyers. Zillow also makes it easier to contact directly owners of for-sale-by-owner properties.

[10:45] Joe describes how you can use Zillow to find more leads, including zooming out to include more area. He tells his students to pick three markets on Zillow and rotate through them; this can generate numerous leads.

[11:45] Today, Joe is doing a couple of wholesale deals a month, lease option marketing in St. Louis, and vacant land sales.

[14:20] Brian and Joe talk about finding a work-life balance between business and family. Joe has various partners for his different real estate ventures. The majority of his work time is spent teaching and coaching, live and on his podcast.

[17:20] There is a lot of power in focus, and focusing on one strategy or one business. But being knowledgeable about multiple strategies can help make your successful. It's important to be a transaction engineer. Instead of focusing on one real estate strategy, make your strategy finding motivated sellers and marketing. Everything in real estate comes back to marketing.

[20:00] As an investor, you should be a student of marketing. You have to understand how cycles and markets change, so you can adjust accordingly. It is also important to be able to engage with a seller by finding out the problem and creating an offer that helps to solve their problem.

[21:40] Being an expert in marketing is important, but you also have to know how to execute individual strategies. Finding this balance can be hard. For Joe, it was about creating a vision for his life, and crafting his business around that. He has one core product, and then a landing point where people can go if they want additional help. He channels his creative energies into different front-end funnels.

[25:05] When it comes to real estate, many investors center their business around one thing, and approach it from several different angles. If you're good at marketing and bringing in motivated seller leads, you will never have a problem with money. Once you have the leads, you can convert them using whichever strategy you want.

[28:30] Joe started doing lease options in 2008. They were easier to negotiate over the phone and he didn't have to go see the property beforehand. He would sell the contracts to tenant-buyers. This ended up being very profitable, and he created his course. Joe's book is meant to be a concise presentation of lease options.

[32:45] In lease options, you find a seller that wants to sell but can't because they don't have enough equity. If they agree to lease their property for a few years before purchase, Joe will send them a lease option contract. If there's equity or cash flow, he'll stay in the middle of the deal; otherwise, he will sell to a tenant-buyer. His book lays lease options out from A-Z.

[36:10] Joe's podcast was the first podcast that Brian listened to when he was getting started in real estate. Because of that podcast, Joe ended up being the first coach Brian hired. Take advantage of the free resources you have access to — you never know what it could lead to!

Mentioned in This Episode:

Meetings

Daily REIA Show

REI Facebook Page

Brian's Book

Joe's Book

Joe's Website

"You Suddenly Lose Everything…" by Richard Brunson

The Pumpkin Plan: A Simple Strategy To Grow A Remarkable Business In Any Field, by Mike Michalowicz

ClickFunnels

Zoom

StreamYard

Restream

Zillow

Redfin

Jamill Damji, of Phoenix, AZ, joins Brian on the show today to talk about the incredible amount of volume they do per month, and most importantly, how they got there. Jamil shares the story of his start in real estate, his background, and how he built his company to the powerhouse it is today. They talk about wholesaling, astro flipping, networking, and much more.

Key Takeaways:

[1:40] Jamil currently lives in AZ, but before getting in real estate, he was in the new media industry in Canada. His business partner's father was a home builder, and Jamil connected with him to inspire and complete his first "skip deal." He ended up making $50,000 on his first deal when his partner's father bought the property from him.

[6:07] Investing in Canada is different than the U.S. because there is no private money in Canada. If you want to get financing, you have to get a traditional mortgage through a bank.

[7:35] Jamil sort of stumbled across entrepreneurship while he stumbled into real estate. He saw a need and he did everything he could do fill it. He used the money from his first deal as seed money for further investing. He found lots for builders and then moved on to apartment buildings. Something that sets Jamil apart is how he asked the questions to figure out what builders were really looking for, so he could be strategic in his search.

[11:20] He moved from flipping apartments to condo conversions with his sister. He describes their lending process in Canada, where they had to convince the end buyer to use a certain lender, and then they would get the construction financing they needed.

[14:10] When the market crashed, they lost their construction financing and all their loans became due. Even though it was a terrible time, there were a lot of lessons to be learned about leverage, risk, and smart money.

[15:50] Jamil did a little bit of comedy writing and made enough money to move his family to LA. He actually became a stand up comic and turned his back on real estate for a while, until he and his sister learned about an opportunity in Phoenix.

[20:20] He got back into real estate when he and his sister started buying condos in Phoenix. They weren't having any luck getting tenants until Jamil drove out to Phoenix to find out their property manager had been pocketing the rent money.

[23:55] Jamil's whole family pulls their resources together. This comes from how his parents raised him and sister. When it comes to business, this mentality boosts him because he's supported by his whole family. He represents not just himself, but five other people.

[26:55] Jamil describes some memories that made him the entrepreneur he is today. His grandfather, Blaza, would find ways to bridge gaps between people. He started an auto parts company in Tanzania. After they were evacuated and relocated, his dad and his family ran a truck wash. His whole life Jamil watched his family work together.

[30:40] Once he got the property management situation under control, Jamil and his sister bought two short sale houses, and they ended up selling them on Craigslist, and that's how he got back into wholesaling.

[35:30] The guy who bought their short sale houses ended up becoming sort of like a mentor to Jamil. He took him around Phoenix and Jamil watched him make these deals to realize it's something he could do also.

[37:20] After working with seasoned wholesalers for a bit, Jamil broke off on his own. Everything started to grow and he was able to move his family out to the Phoenix area as well. He was operating as a solopreneur up until he started his wholesale business, KeyGlee.

[41:29] The business has about 40 staff right now, with admins, acquisitions, dispositions, and everyone else is in tech and intake.

[44:25] There is a lot of grey area and negativity surrounding wholesaling because if it's a great deal it'll sell itself. For Jamil, they focusing on finding the deals and completing the deals. They focus on finding the deals and educating people on how to find a good deal.

[47:10] Their intake group looks outside the box at disposable income and habits, rather than the usual places we find qualified buyers. They connect with these people they find to engage with them to get them interested in real estate so they have a place to keep their capital.

[51:40] There are a lot of people acquiring deals, but not necessarily selling those deals. Jamil describes the cycle he sees how prices get inflated and cancellations increase because no one can sell their deals.

[53:55] At the company, they act as a distributor for other wholesalers in the area. They monetize deals other wholesalers can't monetize, and that's what's allowed them to grow their insane volume. They did a little over 1,000 deals in 2018, and are projected to do around 1,200 or 1,300 this year. They operate in multiple markets.

[56:15] Jamil describes their process and how they decided to expand to other markets. Spreading into other markets has increased their assignment fees.

[58:35] There has to be a mindset shift to focus more on the buyer's side. Many new investors fall in the crowd of what everyone else is doing. Jamil encourages new investors to "turn around and look at the other side of the street" because that's where you'll find your money.

[1:00:25] Jamil's business partner created an amazing six-week course that basically maps out their blueprint. They focus on making sure people are optimized to they can work their best, how to evaluate the deal for the exit strategy, how they generate deals, they share their deals and some of their strategies. A good portion of the course is their dispositions model.

[1:04:20] Real estate all comes back to relationships and networking with your buyers. Networking is not necessarily about what others can do for you, but finding out what it is people are really looking for. Through this, you connect with people and expand. Networking is the most inexpensive and high-converting type of marketing you can do in wholesaling.

Mentioned in This Episode:

Meetings

Daily REIA Show

REI Facebook Page

Brian's Book

KeyGlee

Contact Jamil and his Team

Today's guest is Billy Alvaro, an investor based out of Long Island, NY.  In his career, he's experienced the highest of highs, the lowest of lows, and is now back at the height of real estate. He joins Brian on the show today to share his real story about success, failure, and how he grew and prospered from his trials.

Key Takeaways:

[1:15] Billy is based out of Long Island, NY. He started investing about 30 years ago but has been doing real estate full-time for about 10 years. He currently has a 12-person operation and is planning to scale that up to 24. They do renovations, fix and flips, wholesale, some commercial, and some single-family. Billy talks about how he built up his current business to what it is today.

[4:05] He has systematized 95% of his business, by recording what he did so he could teach others when they were brought on board. This has been one of the keys to the success of his new business.

[7:45] Billy had a billion-dollar business that he was running, that started from scratch with $5,000 on a credit card. As a young entrepreneur, he believed he could build a $500 million bank. He and a partner decided to start their own company with big dreams, big vision, and no fear. Looking back, Billy wouldn't go down that road again, but the lessons he learned have shaped him to be the investor he is today.

[10:45] It started out with him and his business partner doing loans, and they quickly grew from a four-person team to a 450-person team, generating over $200K in revenue a month. They were able to do this through strong and consistent marketing, as well as a strong sales force. Where they fell short was operations. Everything else was growing so fast that the operations couldn't handle it.

[13:25] There were many aspects of the business that weren't systematized, which led to no consistent flow in the operations center. Things eventually became very top-heavy, and at that point, Billy didn't have a coach or mentor he could turn to for help.

[18:45] Essentially overnight, they had to close the whole operation down. Billy faced the aftermath for about three years after it all went down. The challenges he had to face taught him a lot about what he can handle.

[20:55] Our mind is a really powerful thing, especially in the face of adversity. 80% of everything that goes on in our lives starts with our minds first. Billy went through some really dark times, and he shares the story of how he chose to fight instead.

[25:25] Billy went to court to fight his case, and he took his lawsuits down from $14 million to $2 million. When he started having these wins, the confidence he gained let him know that he could do this.

[28:50] People that are tenacious are successful because of their mindset, their ability to see where they want to go, and their commitment to working hard every single day. For Billy, one thing that separates the people who are willing to go to the next level is not being afraid to take a risk.

[32:25] Some people are just born with the "it factor" but most people aren't. It is a skill you can learn though. The formula Billy laid out is 1. Mindset 2. A clear path and vision 3. Work hard to implement and 4. Take risk.

[35:40] Success comes down to confidence. Once you accomplish something you set out to do, your confidence goes through the roof. How do we build confidence? You have to start with courage, and that will create momentum. Follow through with your capabilities, and you will be unstoppable.

[39:35] Billy shares some tips for new people who are trying to build a business. Once you find a process that works, document it, whether that's written down or in a video. Now you have a blueprint so you can share that with anyone you bring on. It's also smart to make one of your first hires an assistant. Invest in yourself and you will start to reap the rewards.

[45:10] Reading has been important to Billy's success, but so as going to masterminds, reading blogs, and listening to podcasts. If you're brand new and not reading much, start by reading about 10 pages a day. There's so much to learn from the real content that's out there.

Mentioned in This Episode:

Meetings

Daily REIA Show

REI Facebook Page

Brian's Book

The E-Myth, by Michael E. Gerber

As a Man Thinketh, by James Allen

Millionaire Success Habits: The Gateway to Wealth & Prosperity, by Dean Graziosi