REI Network with Gavin Timms

If you’ve listened to the show before, you know I’m all about monetizing your dead leads. Usually, we do that through things like lease options and creative financing. Today, though, we have a special guest on the show who’s been doing things a little differently.

Chris Craddock agrees with me that there’s really no such thing as a dead lead. These people want to sell; you just may not be in a position to buy. Someone else is going to get paid on that deal though, so why shouldn’t you be a part of it?

The key is to partner with realtors. Pick the right agent, set up the appointments, and then watch as your agent goes out, closes the deal, and sends you your referral fee. Everybody wins!

Picking the right agent is really important. You have to be sure you get someone who is not only competent but hungry. They have to want to go out there and make the deals. Find someone as hungry as you, and you’ll be able to build win-win situations where the both of you profit off the other’s success.

Chris also brings up an excellent point for anyone who feels like they are stuck in their current progress with real estate investing. Your business only grows to the extent that you grow. Join a new class. Work with a new mentor. Keep educating yourself, and your business with continue to grow.

To get involved in our program yourself, go to REInetwork.com/join.

What’s Inside:

• There’s no such thing as a dead lead.
• Partner with realtors to get a commission off their deals.
• Picking the right agent is key: find someone hungry.
• Never stop investing in yourself.

It may seem like you need to throw a lot of your own money down to buy a property, rehab it, and rent it out. But with a simple strategy called the BRRRR Method, you can position yourself into property assets via refinancing and you don’t have to invest any of your own money.

David Dodge is basically “the BRRRR guy,” so he’s here today to break down exactly how it works. BRRRR is an acronym, and if you follow the steps, you’ll be making deals without putting your own money down.

The B stand for Buy. You have to buy the property. Find properties at a discount by looking for motivated sellers. The first R stands for Renovate. You can get private investor money to cover your reno costs. The second R is for Rent: you rent the property out to secure your cash flow. The third R is for Refinance, and this is really the heart of the strategy. And the final R simply stands for Repeat. You’ve worked the method and made the deal, now go start the process again!

David also explains how to work with local banks and build relationships so that they’ll be more likely to give you the loans you need. Plus, we discuss amortization: what it is, how it works, and how to use it to your advantage when refinancing.

To get involved in our program yourself, go to REInetwork.com/join.

What's Inside:

• The BRRRR Method: Buy, Renovate, Rent, Refinance, Repeat.
• P-BRRRR: make sure you prequalify first.
• How to work with local banks to secure loans.
• Amortization explained.

I’ve just finished up at a huge networking event where I met a ton of fantastic people. I even brought one of them onto the show with me today.

Networking is an extremely important part of real estate. It’s your relationships that are going to help you find leads and close deals, so you’ve got to get out there and meet people. Talk to realtors, landlords, and contractors. Build relationships with these people, and you can call on them when you need them.

Another great benefit to networking is the wider range of perspectives that you’ll be exposed to as you meet more people. Everyone does real estate investing a little differently, and for different reasons. If you can be open to changing your mindset, you can learn a lot from the people you surround yourself with.

And you’ve got to be yourself! Once you’ve met someone, the best way to build that connection is to be genuine. Don’t try and be someone else, or act like something you’re not. People will be able to see through it, and they’ll write you off as a phony.

Guys, networking is so important that it's in the name of my program: The REI Network. To get involved in the program yourself, go to REInetwork.com/join

What's Inside:

• The importance of networking.
• Build relationships that you can call on down the line.
• Educate yourself with new mindsets and approaches.
• The best way to make a connection with someone is to be genuine.

Want to make more money for less work? Of course, you do! We all do. And our guest today, Michael Schwartz, is going to tell us all about how he was able to accomplish both of these things by spending time and effort building a good team.

It’s all about working on the business, not in the business. Michael learned the hard way that when he was doing everything himself, leads were slipping through the cracks. There’s just only so much that any one person can handle. By partnering up with another investor and hiring a “boots on the ground” guy to look at properties for him, Michael was able to free up his time, while also getting more deals done.

I like to break real estate investing down into three phases. Phase 1 is learning the basics, and getting some deals done. Phase 2 is when you start to grow and add to your company by outsourcing and delegating. Phase 3 is when you can sit back and watch the business run itself.

It takes time and work to get there, but Michael is about to move from Phase 2 to Phase 3, and he shares some advice and tips he learned during his journey.

To get involved in the program yourself, go to REInetwork.com/join.

What's Inside:

• Don’t try to go it alone.
• Partnerships mean more deals, and more deals mean more money.
• The 3 Phases of real estate investing.
• How to build a consistent marketing plan.

We’ve got a brand new format on REInetwork.com, and I’ve brought two of my clients, Pamela and Terry, on today to tell you all about it.

They’re about to close out 100k in their first month. Talk about massive action! They really dove into the program and ran with it, and the results speak for themselves.

Their secret is in their partnership. Terry is the “go-getter” sales type, while Pamela is more keen on the organizational side of things. By working their strengths together, they’ve managed to close on two really big deals right out of the gate. By being aggressive with their marketing, and consistent with their follow-up, they’ve found success.

We also discuss the importance of taking time off, both from the business and the business partner, so that we don’t lose our minds to real estate. It doesn’t matter how successful you are; if you’re miserable, what’s it all for? The best thing is that by going full-time into real estate, Pamela and Terry both have the time to pursue their other passions too.

To get involved in the program yourself, go to REInetwork.com/join.

What's Inside:

• A new format for our program.
• We talk with two of my clients: Pamela and Terry.
• How they got 100k in closing in their first month.
• Play your strengths.

Whether you’ve been investing for years, or are just dipping your toes into the real estate markets, I believe that your fundamentals have to be solid if you want to succeed and grow your business. That’s why I’m going to be sharing with you my seven key steps in virtual wholesaling.

Step one is picking a market. There are a few things to consider when doing this, and I recommend you start with one you know: your local area. Step two, you need to find the cash buyers in that market, and then step three, run your marketing campaign.

Step four is really when you start building relationships by talking to the sellers. Find out what it is that they want in a deal, and use that knowledge in step five, which is when you make offers.

Then, we get to the money step: step six, follow-up. Remember, the profit is in the follow-up! And finally, in step seven, we actually close the deal.

Once you master these steps, it’s just a matter of rinse and repeat. Talk to more people, make more offers, follow up on more leads, and close more deals.

What's Inside:

• Solid fundamentals are key.
• Start with a solid foundation: pick a market, find cash buyers, marketing.
• Build relationships: talk to sellers, make offers.
• Finish strong: follow up, close the deal.

Liens aren’t fun. They aren’t fun to talk about, and they certainly aren’t fun to deal with. But sometimes, the ability to negotiate a lien will make or break your deal.

That’s why I brought my friend Melissa onto the show today. She recently was able to work a $106,000 lien down to only $6,000, and she’s going to tell us all about how she did it.

“It was just really a matter of spending a lot of time and talking to them and explaining to them what was going on and a lot of being nice to people that weren't very nice to me because they're collections people.”

That’s really the key. At the end of the day, negotiating a lien is going to require you to use the same negotiation skills that you already rely on to make the deals. You have to reach out and build those relationships, and then people are going to be willing to work with you.

Melissa says that this even applies to IRS liens, which are typically the hardest to work with. The IRS is willing to negotiate, but they have a lot of legal hoops to jump through. You’re going to need a lot of documents from the seller. Melissa even recommends hiring a transaction coordinator to help handle the documentation. That way, she is never in possession of personal information like the seller’s social security number.

We also discuss probate laws, heirship affidavits, and the importance of buying properties at a discount. Melissa actually overspent on the renovation for the house we talked about earlier, but since she bought it at a discount and negotiated the lien down to almost nothing, she still made a nice profit.


What's Inside:

• How Melissa knocked $100k off a lien.
• IRS liens and how to negotiate them.
• Be a relationship-builder.
• The importance of buying discount properties.
• What is an heirship affidavit?

Doing real estate deals online is amazing. It allows me to make deals from anywhere in the US. But it can be overwhelming to try and pick a virtual market to get started in.

Literally, everyone overthinks this. And I get it. When you look at a map of the 50 states, it’s a lot of ground to cover. Where do you even start?

Well, the trick is to start small and grow from there. The best areas to start your marketing in are the areas you already know. That means the area you live in, where you grew up, and where you went to school. If you already know something about the neighborhoods, you’re going to be at an advantage when it comes to doing your marketing.

And if you have friends or family in those areas, all the better. They can go look at properties for you and help with the boots-on-the-ground stuff that you may not want to pay someone for yet.

Once you’ve gotten some success, scale up your operation into the surrounding counties. Then, you can grow on your financial gains and expand into bigger markets. Remember, the only thing that changes in a higher-priced area is the prices. Your strategies and skills stay the same.

What's Inside:

• How to avoid being overwhelmed when choosing a virtual market.
• The best area to start in is the area you already know.
• Use friends and family to help with your groundwork.
• How to build on your success and grow into newer, bigger markets.

Consistency is extremely important when it comes to making a living with real estate. If you want to do this full time, like I know a lot of you do, you’re going to have to gain a certain level of consistency when it comes to doing deals. You can’t close on four contracts one month, and only one contract the next, and expect for that to be workable as your main source of income.

That’s what I’ve got my friend Chris Arnold on today to talk about how he was able to up his consistency. It took him about 90 days to really get going to where he had multiple contracts a month. But then, Chris hit a few speed bumps. His acquisitions manager ran into some health problems, and suddenly Chris was left to do everything on his own.

Left alone with an overwhelming number of leads coming in, Chris had to step back and reevaluate what he was doing. It turns out he had given a little too much leeway to his acquisitions guy, and without him, he was in way over his head.

I’ve learned this the hard way. The quickest way to tank a business is to hand it over to someone else.  Even as you start to outsource your administration tasks, you still need to stay involved and check in with your people every so often.

By focusing on only the best leads, Chris was able to regain control of his business, and when his acquisitions manager came back, they worked up a new system for sharing the load. The trick was to slow down, but never stop.

The biggest key to making consistent deals, though, is in the communication work. You have to try and make 50 calls a day to get that lead pipeline established. Chris doesn’t always get to all 50 calls every day, but guess what: he tries, and by making that volume of calls, he’s consistently bringing in 6 contracts a month. And texting works wonders too; a lot of people that don’t like to talk on the phone will answer a text.

To get ahead in the game, go to BatchLeads.io/gavin and sign up today for access to over 5000 records. Plus, we’ve got a text system that helps automate and organize the process for you. And to join the group with Chris and me, go to REInetwork.com/join

What’s Inside:

• Consistency is the key.
• How to up your number of successful contracts per month.
• Sometimes you need to slow down: but don’t ever stop.
• Focus on working on the business, not in the business.

Hello guys, welcome back to the REI Network podcast. Today, I’m going to be talking about something that isn’t very exciting, but makes all the difference when it comes to making deals. That something is follow-up.

Now, I know following up with sellers tends to be the least exciting part of the whole process, but I’m here today to tell you that over 90% of my deals only happen because I do the follow-up as I should. Remember, when you make an offer and a seller says “No,” what they’re really saying is “no, not yet.” By going back to those sellers after 30, 45, 60 days and checking back in, you’ll already have a relationship built when they decide that they are ready.

The vast majority of deals don’t happen with just one phone call. Remember, the profit is in the follow-up! But when, and how?

Well, the first question is a little tricky. There really is no set answer for the best time or how often to reach back out to a seller. It really all depends on the property and the situation. If it’s a hot lead, follow up within the week. Colder deals can wait longer, even a few months.

The trick is to set tasks, update them, and take good notes. That way, if it’s your VA reaching out instead of you, they know the situation. They know the questions to ask. Communicating with sellers is all about building a rapport, and good notes are the key to doing that. Again, not exciting, but crucial to success!

If you want to learn more or partner with us on some deals, go to REInetwork.com/join

What's Inside:

• “No” just means “Not yet”.
• The profit is in follow up.
• How to use your CRM to help build rapport with sellers.
• Tips for using automation.