REI Network with Gavin Timms

Today, we do a live coaching call with St Luis area investor Mike Hamilton.

He’s a member of our new accountability group, and we talk about his experiences investing over the past few years. He learned the hard way how costly it can be to sit on a property for too long. I like to give myself seven days to move a property. Get the property in front of buyers, and you’ll get offers.

That’s why marketing is so important. Hire a VA to do that kind of stuff for you, and you can focus on making the deals. With the admin duties out of the way, you have more time to pursue better leads, and ultimately, make more money.

Mike’s big goal is to make enough to be able to quit his job and pursue real estate investing full-time, while also being able to put away money for his children. I go over investment strategies so that once he makes his first big deal, he can build on it.

We also talk about my number one rule: don’t buy a property if you can’t wholesale it. Sitting on a property ends up costing you money, and wholesaling is your ticket out.

To join our network, as Mike did, go to REInetwork.com/join

What's Inside:

• Mike shares his experience investing in the St. Louis area.
• The importance of marketing.
• Why you should outsource your admin.
• How wholesaling can save you.

Having an investment partner that is in sync with you and your core business values is of paramount importance. Whenever I’m working with investment deals, I always have a partner; I’ve never completed a deal on my own. Everything I do is about collaboration with someone else. So how do you find a partner and what should you be looking for in a partnership?

First you should really identify what your core values and vision are for your business. You need to find someone who is aligned with these values and vision. If you are not aligned with your business partner, you will have huge problems. The core values and vision are at the base of your business and there is no “fixing” it if your partner doesn’t align with you. You need to be heading in the same direction.

If you are doing virtual deals, find a local wholesaler in the market you want to work in, so you have someone with boots on the ground. Look for someone who is wanting to increase their number of deals and increase their consistency. If you pair with someone who has many deals already, they may not want to work with you in the way you need them to. It also may not be good to pair with someone who has never done this before. If they don’t have experience, you’ll have to train them and that may not be what you want to be doing.

How can you find someone to partner with? Look on the Facebook marketplace, local Facebook groups, other social media platforms, and Craigslist. Attend a meetup and see who you can network with. It’s about being social and making those connections. Talk with realtors and property managers. They have a pool of connections, or maybe they would even want to partner with you.

When I’m looking for a partner, I’m sure to bring something of quality to the table. Look for someone who compliments your strengths and weaknesses and fills in the gaps. You want to be working on the business, not in it.

What's Inside:

• Why you need to find a partner with time, money, or both.
• The importance of finding a partner in alignment with you.
• The best places to find your ideal partner.

We all have dead leads that we wish we could bring back for a second chance. Sometimes time is all that’s needed to turn those dead leads into successful investments. We just closed a deal on a property that we flipped; this was a deal that we initiated a conversation on several months ago, and we initially told the seller we weren’t interested. So what brought things back around for us and the seller, ultimately ending in a good profit for us and a happy seller as well? Time and relationship.

I initially didn’t want to take on the deal that we just closed on; the numbers didn’t make sense. Over the last five months, we maintained our relationship with the seller and kept checking in. The market shifted, and the deal started to make sense financially. When it did, we were able to move forward with the property and eventually make a great profit. You need time on your side, and a great team of people to help you. I’ve never seen this particular property in person. I was able to accomplish a successful flip because I have an incredible team of contractors on the ground that took care of this.

As wholesalers, our number-one role is marketing. We find a property that has an issue or is hard to sell, we purchase the property, solve the problem, and find a new buyer. We are marketers and problem solvers. So much of our success comes from our relationships. Networking and relationships with sellers, mortgage brokers, attorneys, and title companies; is how we are as successful as we are. Time plays a big role as well. I have deals that I worked on for close to a year before the seller decided to work with me. Keep time on your side, build relationships; it can really pay out for you as a successful wholesaler.

What's Inside:

• Why you should build multiple strategies when looking for investment deals.
• The importance of building relationships and networking.
• Why you should invest like you are using your own money.
• Having a great team on the ground can allow you to invest virtually.
• Four things to look for when prescreening your leads.

Do you have several dead leads weighing you down? Does it feel like those were just wasted time and you have nothing to show for them? Dustin Kircher can help you out. Dustin is here to tell us about REI Deal Closers, a company that specializes in taking your dead leads and closing the deal, making sure you get paid.

What does REI Deal Closers do? REI Deal Closers will work with you and JV on deals if you already have a contract. If you bring your dead leads to them, they will work them and get you paid. They look at dead leads all across the country. REI Deal closers works with people who have a wholesaling business. Maybe you are working on growing your business and you have some leads that don’t quite fit your wholesale model. Maye the deal wasn’t quite right, or the seller wants to sell but not low enough that it makes sense to wholesale or flip the property. Bring your dead leads to REI Deal Closers and if they close, you get paid. If they are following up on your dead leads, you can focus on your zone of genius. It’s truly beneficial for everyone.

Dustin’s advice: connect with other people on your team and in your group. Get some accountability partners and check in with each other so see if anyone needs help. Role play with them to practice. Network. If you are an introvert, this may be hard but networking is so important. It is critical.

The truth is that your dead leads might not be dead and gone. Let REI Deal Closers handle these deals for you, so you get paid. It takes the stress and pressure off of you so you can focus on your other wholesale ventures.

What’s Inside:

• Dustin’s background.
• What kind of deals does REI Deals Closers handle?
• Turn your dead leads into a payout. 
  
  

If you do ten deals a month, cool. But what if you could do one huge deal instead of ten? We just closed on two $50,000 wholesale deals in Birmingham, Alabama, so I know it can be done. I’m talking to the master of huge wholesale deals, Greg Helbeck. He started out wholesaling in New York, one of the hardest markets to work in, but it had the added benefit of making him feel like he was running uphill constantly. Then he decided to try an easier market, and he pivoted to Texas. He’s only 26, and real estate is exploding for him.

I’m in a mastermind with Greg, and even though I don’t use direct mail marketing, he’s got me halfway convinced to try it out. And when I say he’s using direct mail marketing, I mean on a massive scale. He’s sending out 15,000 pieces of mail a month, and stacking distressed lists so that he can target the most motivated sellers out there. He talks about the different motivations for high-end sellers versus low-end sellers. One is all about convenience and the other is all about getting out of a distressed situation.

Greg is all about making more money on fewer deals. He’s looking at margins of $20,000, $30,000, even $50,000. Like me, he’s not interested in a thousand employees under him supporting a massive real estate empire. He’s keeping in lean and mean and partnering with other wholesalers to smash his goals.

You can connect with Greg on Instagram and tell him I sent you. He’s got his mindset in the right place and he’s truly an inspiration.

What's Inside:

• How he approaches the low-end market versus the high-end market.
• Why both Greg and I will JV all day long over chasing down a deal on our own.
• When you start focusing on the “Who, not how”, that’s when things will start changing for you.

Scared to death of picking up the phone and cold calling? Relax! Claude Diamond is the absolute master of low-pressured sales, and he’s going to show you how to sell to more people in a faster, friendlier way. He starts off with the assumption that he’s not the first person the seller’s spoke to about selling, and then he puts them at ease with a little humor. He sticks to the KISS method to keep the dialogue going, and he gets off that phone call in three minutes.

When you stick to a script to talk to a seller, you sound like a robot. Plus, if the seller asks you a question that you’re not prepared for, you’re going to be thrown off your stride. Claude wants you to focus instead on the fact that we’re storytellers. We have to ask questions. We have to paint a picture for people to get excited. So when you pick up the phone to talk to someone, you just want to have a normal conversation about their house.

You’ve got three simple steps to cover in that conversation, and Claude explains how these all work together:

1. Qualifier
2. Qualification
3. Commitment to close

Claude is the real deal, and he puts his personal phone number on his website. Contact him for more GUTS sales techniques, and sign up for his website freebies. Just mention “I love Joe” or “I love Gavin” to let him know that we sent you.

What's Inside:

• Calm the seller down instantly with this phrase.
• When you’re focused on asking questions like a doctor would you’ll be able to diagnosis the seller’s problem faster.
• Why Claude uses an egg timer when he’s cold calling.
• You don’t need to use a script when you apply Claude’s 3 simple steps to every single one of your conversations.

Frank Jr got started buying houses by investing in homes in Cuba where pastors could then live and plant a church. So yeah, he had a really unusual entry into real estate investing. Now around the Tampa, Florida market, he’s perched himself in both the investor and agent camps so that he is in a position to help more people. As a wholesaler, he’d meet people who had to discount the price of their home, but they really needed more money. Holding both positions lets him help people with whatever they need.

Frank’s not there to talk the sellers into something. He’s not there to sell them. He walks into the room as a problem solver, and that completely changes the energy in the room. Everyone’s relaxed because they know that Frank’s on their side. You’ve probably seen this before, where people suddenly get defensive when they feel like you’re going to lowball an offer. But switching between investor and agent lets Frank help sellers wherever they’re at, and puts everyone into a win-win situation.

One of the lessons Frank and I have both learned: We do not buy what we cannot wholesale. Everything you buy has to have multiple exits, or you’re going to find yourself in trouble. I’ve passed on deals because if everything didn’t go perfectly, then I was going to lose money. And Frank learned this expensive lesson on his first deal when it had only one exit strategy.

If you’re interested in partnering with Frank, you can call or text him at 305-775-8750, or send him an email: [email protected]. He loves what he does, and he loves working with other agents and investors.

What's Inside:

• When Frank walks into the room as a problem solver, the temperature in the room cools down.
• I don’t think I’ve ever done a deal from start to finish on my own. And Frank’s with me on that.
• If you don’t have multiple exit strategies from every deal, you risk losing your shirt like Frank did on his first deal.

Before I talked to Tony Javier from Real Estate Master TV, I just had this feeling that being on TV was too expensive, and it turns out that most real estate investors think that too. That’s one of the reasons that there’s so little competition in this marketing channel. Ten years ago, Tony happened to be talking to a guy who did television commercials and who suggested that Tony’s business would be a perfect fit for TV, and Tony’s only regret is that he didn’t start in television when he started investing in real estate 20 years ago.

Tony’s company helps real estate investors create a brand for TV, and they do more than just vaguely point you in the right direction. You’ll learn from Tony and his crew:

• What shows you need to be on
• What stations you should be on
• The right scripts and graphics

There are people out there selling programs for $30,000-$70,000 that will teach you how to market on TV, but then you have to go out and do it on your own. Tony charges a fraction of the cost and gets his clients on the air in a few weeks. He puts you in front of an audience and you’ll see 10 times faster results. Most of his investors start closing deals within weeks of their commercials airing.

This isn’t for everyone. Not everyone wants to be on TV, and not every real estate investor has the capacity to close on the amount of leads that they generate. Tony carefully screens the clients he works with so the investor avoids market saturation. Investors like the exclusivity of Tony’s screening process and Tony guarantees that he only works with the best. It’s a win-win. Reach out to Tony if this sounds like a marketing channel that you’d like to dominate.

What's Inside:

• Tony has 9 years of data into what works for motivated sellers on TV.
• When you can find something that no one’s doing, and when you’re not competing with five other investors, that’s where the magic happens.
• If you don’t want to be on TV for whatever reason, Tony can work with that.
• Tony’s mantra is to do business with less and find ways to do business in ways that no one else is doing.

Wholesaling since 2014, Ron Rower is currently watching things explode in his mid-Missouri market. As a former attorney, he’s been a big-picture kind of guy who can also keep an eye on contracts. But Ron’s greatest strength is a massive network. People bring him deals and want to partner with him because he knows everyone.

Ron’s proof that you don’t have to be everything to everyone. You don’t even need to have the flashiest website, as he’ll be quick to tell you. His buyers try to stay in the loop even though he’s an old-school texter. Because to Ron, there is strength in partnerships, and he consistently delivers good properties to his buyers and sellers.

Sometimes you’ll see Ron on the dispo and sometimes you’ll see him on the marketing side because his strength is filling in the gaps. The best partnerships are those that work on complementary parts of the business. Even if you’re a husband and wife team, one of you has to be on marketing, and one of you has to be working the phones.

It’d be nice to put the whole assignment fee in your pocket. But how much effort do you have to put in to do that? Ron’s mid-Missouri wholesaling business is blowing up because he’s not interested in keeping the whole fee. If you’ve got a property for him, or if you’d like to partner with him, send him an email to [email protected].

This kind of success doesn't happen overnight. We’ve been working with Ron for years to help him focus on just the right parts of his business. His growth has been tremendous and I’m honored to be a part of it. If you’re ready for a coach, let’s connect on my website.

What's Inside:

• Why you absolutely need to be consistent. Don’t be hot and cold in what you’re doing.
• How many deals do you do by calling on Saturday a lead that you found last Monday?
• There’s power in spreading the workload out and taking less of a fee from a deal.

Eddie Palacios is no stranger to real estate, but he’s currently transitioning from being an acquisition manager to a real estate investor. He’s building out his own system right now as he figures out how all of the moving parts work. And he’s creating that funnel that serves him up warm leads to follow up on. We hop on a coaching call to work through the part of the process that he’s a little stuck on.

Eddie’s done a great job figuring out that being too scripted on a phone call was killing his rapport with sellers. He pulled back from pre-selecting financing options because they were tripping up his conversations, and he shifted to having 80% of the conversation be the seller talking. This is a super common problem, so take this as a reality check; how’s that going for you?

With a system in place and a VA warming up his leads, Eddie feels confident that he’s headed in the right direction. However, inputting data into the CRM isn’t going as smoothly for him. For me, I like to have as many records as possible to get as many leads as possible. Once the record is turned into a lead, that’s when I input leads into the CRM. Positioning leads this way makes it easier to scale up.

I advise most of my coaching clients to get a whiteboard. Having a visual reminder in front of you about where your hot leads are at is the best way that I know of to keep them in the front of your mind. There’s no guessing for you or your team about how many properties you have in the pipeline.

Are you ready for another pair of eyes on your business? Do you need a better business system to help you process your records into leads? I’d love to see if we’d be a good fit.

What's Inside:

• Eddie breaks down his current real estate system so that we can find the holes and plug them up.
• Why I prefer automation on colder leads, and how you can move some work off your plate by putting automation in place for these kinds of leads.
• The difference between records outside of a CRM and leads inside of a CRM, and why understanding that difference is crucial to scaling up.