RealEstateInvesting.com Podcast: Real Estate Investing | Passive Investment | Investor Strategies

James Wachob has scaled his investing business in Memphis Tennessee to having 78 team members and is rehabbing well over 200 houses a year, along with doing new construction.  His investing model is around providing turnkey rentals as well as doing some traditional wholesale deals and flips.  On the turnkey & property management side, his company manages over 1700 rental units for some 500+ investors.  He has built quite a large operation and there is a lot to be learned from what he has to say regardless of if you are a beginning investor or an experienced investor looking to scale your real estate investing business to the next level.

Key Takeaways

1. Focus on one area of real estate investing and take action. Beginners should avoid shiny object syndrome and taking on too many ways to invest at one time.
2. Place a dollar figure on one hour of work value for yourself, then, when you can afford it, hire-off to someone else everything that isn't worth your hourly rate.
3. Build that team because that team is the only thing which will make you scale!

Resources & Books Mentioned

• Book: What the Heck Is EOS? by Gino Wickman
• Book: Traction by Gino Wickman 
• ListSource
• ListHub
• CallRail
• Zoom.us
• InvestorFuse
• Google Calendar
• G Suite

Topics Covered

• How James got his start in real estate investing.
• Cashing in on the downturn of 2008 by buying in-fill lots.
• Key strategies for buying lots in the right neighborhoods.
• How James saves money by systemizing & building new construction on a "fee basis".
• Why wholesalers are not sending him as many houses as before.
• How he has his team "driving for dollars".
• The strategies he uses for direct mail, where he gets his lists and what he mails.
• How leads get processed as they come in.
• Estimating repairs.
• How they present an offer to the seller and when.
• Deciding the exit strategy and why the year the house was built plays a key part in the decision.
• James' typical rehab budget.
• How and why James has three sets of pre-determined product selections.
• How James was able to scale the business.
• What his team structure looks like in his department.
• About using VAs (Virtual Assistants) when sourcing real estate deals.
• Types of software his company is using.
• James' advice on getting started in real estate investing.

Connect With James Wachob

• James' Company Page: ThinkMemphisRealEstate.com
• James on LinkedIn
• James on Facebook

Pat Flynn has only been in real estate investing for a couple years and has already scaled to wholesaling and flipping 20 to 30 deals a month.  He outlines how he is able to find so many deals and compete against other investors.  Learn how he is adapting his mailing campaigns and working to find deals where the competition isn't as focused.  Pat also gives insight into the mistakes he has made, along with his advice on getting started in real estate investing.  This is one interview which will have you thinking outside-the-box when it comes to finding houses to wholesale or flip.

Key Takeaways

1. Real estate investing takes consistency!
2. Focus your buying efforts to outer areas where there are fewer other investors looking.
3. Consider mailing lists which aren't the standard list other investors would get.
4. Sometimes you have to "eat some crow" when doing your own cold calling.

Resources & Books Mentioned

• Book: Rich Dad Poor Dad by Robert Kiyosaki
• Book: Four Hour Work Week by Timothy Ferriss 
• Book: Never Split The Difference by Chris Voss
• DealMachine App
• PipeDrive
• Wunderlist
• Audantic
• Foreclosures Daily
• White Pages

Topics Covered

• How Pat got his start in real estate investing.
• Why his direct mail campaigns are producing less results & what he is doing about it.
• Why Pat doesn't use the standard mailing lists most other investors are using.
• How he finds deals by "Driving for Dollars".
• How Pat Networks to find deals.
• What makes other wholesalers want to do business with him.
• What marketing strategies work for him to find 20-30 real estate deals a month.
• When a deal comes in, how Pat processes that deal and determines what to offer.
• Estimating repairs and determining the exist strategy.
• Target profit margins depending on deal type.
• How to properly vet contractors.
• Staging properties.
• How Pat sells is flips faster than most other investors.
• Pat's best deal he did by getting rid of bad tenants.
• Pat's worst deal and how you can avoid making the same mistakes that cost money and "time".
• Pat's advice on how to get started in real estate investing and how to quickly scale.

Show Related Definitions

• Wholesaling Real Estate: The strategy of putting a real estate property under contract and then assigning that contract for a fee, usually at the closing. Because the wholesaling investor has an "equitable interest" in purchasing the property, they do not need a real estate salesperson license to sell the purchase contact.
• VAs / Virtual Assistants: Workers who perform tasks remotely from home by computer or phone, usually from another country.

Connect With Pat Flynn

• Pat's Company Page
• Pat On Instagram
• Pat on LinkedIn
• Pat on Facebook

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Robert Kiyosaki's Rich Dad Advisor & attorney Garrett Sutton stops by the podcast show to share his extensive expertise on asset protection strategies for real estate investors.  Learn to protect your investment portfolio whether you are a small investor with just one or two properties locally, or a real estate mogul with millions of dollars worth or property spread across multiple states.  This is your chance to learn from a true expert who is highly regarded in the real estate investing community. You can even have your asset protection setup by the same attorney used by Robert Kiyosaki.

Key Takeaways

1. The first line off defense against a lawsuit is to have good business practices to begin with.
2. Real estate investors are always at risk of a lawsuit, whether it be from a tenant, a worker on a rehab project or even if you are in a car accident.
3. Attorneys like to go after insurance policies first. If there are too many obstacles in the way of them collecting, they are less likely to pursue a case against you.
4. You can have multiple layers of asset protection by forming an LLC in a state which has very strong corporate laws; and the cost can be minimal.

Resources & Books Mentioned

• Book: Loop Holes of Real Estate (Rich Dad Advisors) by Garrett Sutton
• CoporateDirect.com

Sponsors

FlipLender.com Direct access to funding for your flips.

Topics Covered

• Why asset protection is so important for real estate investors.
• Methods investors should avoid when it comes to holding title to their properties.
• The best ways to take title to your property.
• Land trusts vs. an LLC
• Deciding how many properties or how much equity to put into a single LLC.
• Financing properties you plan to own in a LLC.
• Making sure your property insurance is setup correctly.
• The advantages of setting up an out of state LLC in Wyoming
• Understanding "Charging Order" protection.
• How to follow proper corporate formalities.
• What to do if you haven't followed the proper corporate formalities.
• Equity stripping as an asset protection strategy.
• The advantages of forming your own separate property management LLC for your own properties.
• The minimal costs associated with having strong asset protection.

Connect With Garrett Sutton

• CorporateDirect.com
• Garrett Sutton on LinkedIn
• Garrett Sutton on Facebook

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Grab something to start taking notes because Gonzalo Corzo lays it all out on how he is crushing it at wholesaling real estate.  This "no-holds-barred" interview takes a close look at how Gonzalo has shadowed & learned from other highly successful investors & then took action to build a highly successful systematized wholesaling business.

Gonzalo tells what it really takes to be a successful wholesaler & leaves no detail hidden.  Come along on this information packed podcast where he outlines in detail each component of his business, the software programs he has implemented, along with how him & his team finds & vets 10 or more deals a month on a consistent basis.

If you want to be a real estate wholesaler, this is one interview that can change your life if you take action!

* If you are passionate about wholesaling & you like the episode, PLEASE SHARE!  We really appreciate it!

Key Takeaways

1. Gonzalo does more deals than most other wholesalers not because he knows more, but because he takes more action.
2. Persistence is the key to success in real estate investing.
3. Keep a good mindset by not listening to the naysayers.
4. Work to learn (even for free) before you work to earn.

Resources & Books Mentioned

• Book: Cash Flow Quadrant by Robert Kiyosaki
• Book: The E-myth by Michael Gerber
• Podio
• InvestorFuse
• Zapier
• GlobiFlow
• CallTools
• Google Docs
• MyREiPro
• DataZapp
• DataFinder
• DocuSign

 Topics Covered

• How Gonzalo got his start in real estate investing.
• What it was like to tell his family he was dropping out of school. (Don't do this at home!)
• The strategy he used to shadow & learn from highly successful investors.
• How he worked for free to learn the ropes from a mentor.
• What his first deal looked like.
• The team structure he has built with his partner.
• Gonzalo's strategies for using VAs (Virtual Assistants).
• The strategies he is using to find deals & which strategy is working the best.
• An in-depth look at the software & systems he has in place.
• Skip-tracing & cold-calling owners.
• How to lock up a deal before you ever see the house.
• What to do if you can't find a new buyer before you have to close.
• When to double close vs when to do a single closing.
• How to network & build a buyers list full of cash buyers.
• What Gonzalo consider's his best deals he has done.
• The worst deal he did, the mistakes he made & what he would do differently.
• How Gonzalo learned to do what he does at such a young age.
• The mindset that drives him to success & how he makes sure he keeps his eyes focused forward.

Show Related Definitions

• Wholesaling Real Estate: The strategy of putting a real estate property under contract and then assigning that contract for a fee, usually at the closing. Because the wholesaling investor has an "equitable interest" in purchasing the property, they do not need a real estate salesperson license to sell the purchase contact.
• Double Closing: A real estate closing technique which involves a first closing between the owner of the property and the wholesaler, and then a second separate closing between the wholesaler and the end-buyer; the deed from the seller is to the wholesaler and then the wholesaler signs a deed to the end-buyer. A double closing involves two sets of closing documents and two deeds.
• Single Closing: When wholesaling, a "single closing" means the deed passes from the seller to the end-buyer and the wholesaler gets an assignment fee. There is usually one set of closing documents and one deed. Conducting the closing can be separated into two meetings; one where the seller signs the closing documents and one where the end-buyer signs, ensuring the seller and end-buyer do not meet face-to-face. 
• VAs / Virtual Assistants: Workers who perform tasks remotely from home by computer or phone, usually from another country.

Connect With Gonzalo Corzo

• Gonzalo RealEstateInvesting.com profile
• Gonzalo's Company Page
• Gonzalo On Instagram
• Gonzalo on LinkedIn
• Gonzalo on Facebook

Learn how Jon Schoeller went from being a beginning real estate investor to doing 45 deals in his first 18 months. Jon and his partners are doing multiple investment strategies including wholesaling houses, buying and selling fix and flip properties and doing lease options. Come along as we dive deep into how he finds and vets deals, estimates repairs and determines the exit strategy. If you have ever thought you needed a real estate investing mentor, Jon will explain the approach which worked for him and lead to him being CEO of an investment company.

Topics Covered

• Where Jon is located & what types of investments he & his company is doing.
• How Jon got started in real estate investing.
• How shadowing other investors lead to him being CEO of an investment company.
• What his first deal looked like.
• Jon's tips on how to save money on a rehab.
• How he found lenders.
• Project management, avoiding trouble, guiding workers.
• Average price of house he looks for as an investment.
• Lessons learned the hard way. His sweet spot number for property values to invest in.
• A deal Jon is proud of. Bought for $27k at an auction. $43k rehab which was $10k over budget.
• How his rehab estimate was off by $10k & what he learned from the mistake.
• His strategies for finding deals.
• The biggest source foreclosure. Which strategies work the best for him.
• What he looks for when when he sees a property & when he will skip a deal.
• How he & his partners screen properties & analyze deals in a systematized way.
• The minimum target margin Jon & his team look for when analyzing a deal.
• His plans for scaling.
• Systems & Software being used to scale the business:
• SlyDial
• Google Voice
• BaseCamp 3
• Bixby (A virtual assistant app developed by Samsung on the Android platform.)
• Jon's favorite strategy for finding deals.
• An overview of Jon's team.
• How Jon & his team are beginning to implement investing in "Rent To Own" deals.
• How they are seeking to solve seller's problems.
• How & why his team works to protect & guide the RTO buyer towards closing.
• Jon goes over his worst deal, why the rehab took too long & went way over budget leading him and his team, along with his advice on preventing the same mistakes from happening again.
• How Jon stays organized & moving forward in his real estate business.
• What Jon wishes he could do if he had to start over again in real estate investing.
• Jon's advice on getting started.

Connect With Jon Schoeller

• Jon's RealEstateInvesting.com profile
• Jon on LinkedIn
• Jon on Instagram
• Jon on Facebook

The real estate investing podcast where we talk real world rei strategies for success, building wealth and achieving financial freedom with experienced investors who share the best advice for epic success without the get rich bs.

Listen as guests share their formulas for successful real estate investing and how you can do more deals and increase your profits.

Gain insight into what works in today’s market with real world actionable advice to take your real estate investing to the next level.  From advanced topics on multi-unit apartment buildings and commercial property investment, to the basics of getting started wholesaling a 1st deal and flipping houses. Rookies and newbies can learn to master the art of flipping houses with a 360 view from real life guys and gals doing dealz, while more experienced and advanced investors can learn through those who are crushing it in real estate investing.

Even passive investors can learn more about how to grow their passive income & lifetime cash flow by building a rental empire of turnkey rental properties.  Build wealth faster without ever having to pay taxes by keeping more profit in your pockets using a self-directed ira or 401k to invest tax free or tax deferred.

Feel empowered to break past your mental limits and out of your comfort zone to gain the mastery of real estate investing.  Learn the best strategies, tips and advice ever on wholesaling deals, managing rentals, farm equity and how to do bigger and better deals in your market. Best of all, avoid costly common mistakes by getting your education from other guys who are in the real world classroom and avoid the expensive real life seminars.

Join America’s most recognizable website in Real Estate Investing each week to get the latest real estate news and business advice by subscribing to this podcast now.