REI Network with Gavin Timms

There are some definite benefits of working with a hedge fund as a wholesaler, but I don’t want you to be unprepared. You need to understand how they operate before you start working with them so that you can be prepared with a foundation that won’t get crushed under their requirements.

Some of the benefits of selling to hedge funds are:

• They pay more than local people.
• They’ll buy as many houses as you have.
• They’ve got loads of money to spend.

On the other hand, their strict criteria leave you with zero bending on what you can offer them. When they say they want houses that are 1600 square feet, that doesn’t mean 1580 square feet. Don’t even try to understand their criteria because they’re answering to investors.

I’m very big about controlling the situation as best as you can. But with the hedge funds, you lose power in the situation. I’ve gotten all the way to closing, with the papers signed and the sellers ready to go, and the hedge funds have backed out because they ran out of money. I want you to go in with your eyes wide open to some of these risks and be prepared with a better contract to protect yourself.

What's Inside:

• Don’t try to understand the criteria a hedge fund operates under; just focus on finding the kind of houses they want.
• Why you need to understand the funding cycle of a hedge fund.
• How to find and network with hedge funds who are buying in your market.

Adding a partner to shore up your weaknesses can change your life, but the best kind of partnerships are a win-win situation for both parties. So how do you provide value to a partner who in turn provides value to you? I’m going to share some real life examples of some of my best partnerships that just work because we collaborate together.

I know what I’m good at; I run the systems and the marketing and love working on the operations side of the business. So when I look for a partner, I want someone on the other side who’s talking on the phone and locking up sellers. Once you’ve figured out what you’re best at, you can branch out into multiple markets looking for the perfect complementary partner.

One of my newest partners is Melissa in Alabama. I asked her in a coaching call what she was going to do if a seller said no, and she said, “Well, I’ll just keep calling them back until they say yes.” I knew that she totally got what this business is all about, and that she would be the perfect partner for me.

Once you’ve talked someone into a partnership, you’ve got to deliver on your promises. Opportunities are there for anyone who’s willing to get off the sidelines and jump into the real estate business.

What's Inside:

• How I turned a Maui investment opportunity into a mutually beneficial partnership.
• Why I’ve been able to expand across the country, and how I find my boots on the ground.
• Figuring out what I’m good at means that I know exactly what I can offer a partner, and I share how I use that knowledge to find partners. 

I want you to draw three columns on a piece and paper and then ask yourself: “Where am I right now? What kind of headspace am I living in?” I want you to think about your goals, your job, your family, and everything you’ve got going on right now and write it down in one column on a piece of paper.

Then, I want you to think about your dream life. Where do you want to be? Where do you see yourself in a few years? I want you to write down all of your plans in the third column, and I want you to dream big.

You’ll see that there’s still an empty middle column. That blank space is everything that has to happen to move you from the first column to the third column. I’m going to talk about the systems, partners, and teams that you need to put in place to move towards your goal.

There is no one-size-fits-all real estate investor model. You need to find out which real estate method works for you, whether that’s fix and flip, wholesaling, BRRRRs, rehabbing, owner-financed deals, or whatever. The sky’s the limit!

I’m going to share some of my solutions for my clients that address their specific needs while still helping them succeed with their real estate goals so that you can see just how individual real estate investing solutions can be for your life.

What's Inside:

• What kind of model should you follow in your real estate business?
• The 2021 phrase of the year should be “Done is the new perfect”.
• It’s time to stop doing the same thing over and over again while expecting a different result.
• The systems and processes I set up with my coaching clients that are the key to their success are as varied as their real estate goals.

As you move into a new market, you’re building rapport and trust with local wholesalers, partners, and investors, so you’ve got to come through with what you promise. If you’re not good at follow up, you’re losing out on potentially tens of thousands of dollars. My coaching client Chris Arnold and I are going to rewarm some cold leads from a CRM that I stopped following upon to prove that not following up is costing you real cash.

Helping coaching clients put together, I like to focus on getting a system in place first. It doesn’t matter if you have a hundred leads because if your lead manager keeps dropping them, you’re just going to be wasting your money. Chris and I have been working the kinks out of his team so that they can work seamlessly together to build that relationship with a seller and close the deal without a hitch.

If you’re ready to follow along with the No Dead Leads case study, you can follow the link to the raw material as we create it. This isn’t slick marketing on my part; I want to be real with you about the work that goes into creating a real estate business. There’s no secret to success in real estate because it’s all about creating systems that work and putting in the time to make offers, talk to sellers, and follow up.

What's Inside:

• How I help my coaching clients identify the weak link in their business system.
• My techniques for improving your cold calls no matter how confident (or not) you are on the phone.
• As Chris has built his market out, he’s quickly learned that he must follow through with every single promise he makes.

As a coach, I’m pretty focused on getting my coaching clients set up with a system that will help them build the real estate business that supports their dreams. But sometimes my clients run up against real life, and we need to do some adjusting.

Nolan shot me a text about a problem that might sound amazing to some of you; he was completely overwhelmed with how many leads he had. I always have my students focus on marketing, talking to sellers, making offers, and following up. And because I really believe the money is in the follow-up, I help my students create a system that guarantees that no lead will fall through the cracks.

But once Nolan got behind on his follow-ups, he found he couldn’t keep up on his fresh leads either. Pretty quickly, the overwhelm can start to kick in as ten leads become twenty and then forty. So we sat down to figure out a new plan of action.

Look, there is no right or wrong way to build a system. The goal is to build a system that works for you. What you bring to the table is a hunger for taking action, and I can always help you create a system that takes into account what you have time for and what you’re good at. Let’s take action together today.

I’ve just gotten off a coaching call about how to succeed in real estate, and I wanted to take a minute and address one of the major obstacles that I see real estate investors running into. I’ve seen semi-professional golfers on tour who could go completely pro, but they’re not out there signing big contracts. And it’s for the same reason that real estate investors are just piddling doing mediocre deals.

You’ve got to get your mindset in the right place. Why, when you’re being told to take massive action, are you still holding back? It’s because your self-belief is holding you back.

In your life, you’re constantly meeting people who can’t get out of their own way:

• The accountant that can’t get past the perfect offer.
• The lawyer that’s obsessed with the paperwork.
• The engineer who over analyzes everything.

You can’t be these people if you want to succeed. I talk a lot about the core essentials of real estate, but sometimes investors want to skip over these three strategies. But I want you to listen to me because this is important: a new course is not going to fix your inaction.

Do you need a coach to help you set up your real estate investing business? Do you want a mentor that will help you get your mind right? Let’s connect on my website. Start taking massive action today.

What's Inside:

• How the five people surrounding you are going to impact you.
• Mentors and coaches can see what stalls your progress and help you move through those barriers.
• The ways that mindset will affect professional athletes, singers, and real estate investors like yourself.

You’ve told me that you’d like to hear more cold calls so you can see how to keep the conversation natural and smooth. While I do provide scripts to help my coaching students, you don’t need to stick to the script to land a sale. And of course, every conversation isn’t going to be a straight line from A to B where you ask questions and close a sale in fifteen minutes.

Listen to my live call with a seller I found on Zillow. I want to know:

• Basic details about the property
• Quick calculations for the ARV
• A little of the seller’s background

After the call, I’ll analyze for you what worked and what didn’t, and what I learned about the property from his answers. He turned out to be a fellow investor who might’ve pressured a less experienced investor into purchasing this property, and I’ll point out some of the pitfalls you can avoid when talking with fellow real estate investors.

What's Inside:

• Working from a Zillow listing is no big deal when you approach it my way.
• Having some rough comps in mind as you talk to the seller helps you establish fairly quickly if the home is priced in the right ballpark.
• Because I knew what the seller paid for the house from the listing, I was able to have a more confident position in the conversation.

Some people come into this business to create a job for themselves. They’re out there everyday working this business just like they did when they had a W-2. If this is you, I suggest you take a step back and ask yourself: what are you actually trying to do?

Create a vision for you and get your foundations down so that you can prepare to scale. The foundations we put in place for your business will be determined by the vision you have for the kind of real estate life you want to live. But you can’t scale until you’ve got these things in place.

When it comes time to hire, you’ll be adding VAs, assistants, acquisition, and disposition positions to your team. But you don’t need or want these new hires all at once. I like to use a process I call “feathering” to slowly add in and train these new team members so that your expectations are met or exceeded.

Stop working in your business, and start working on your business. Putting these systems in place is going to increase your productivity and allow you to move into other markets, all without continuing to put in 90-hour work weeks.

If you have a real estate question or something you’d like me to talk about, send your podcast suggestions to [email protected].

What's Inside:

• Don’t get overwhelmed; focus on one action at a time and move toward progress.
• How to know when you’re ready for another market.
• Who should take on the hot or warm leads in your team?

The three parts of your real estate business that you need to have in place are: marketing, talking to sellers, and making offers.

Once these are in place, that’s when then the fourth one kicks in: follow up, follow up, and follow up. It is the most important part of your business.

If you’re following our marketing system, you know that we recommend that you have five conversations a day, plus you need to be making three offers a day. When you are consistently putting in the work to make offers, that means every week you’ll have fifteen people to follow up on.

Maybe a seller isn’t ready to sell quite yet when you talk to them on the phone the first time. They’re not at the motivated seller stage yet, but they have the potential to get there. In this episode, I’m going to share my strategies to warm this lead up over time. First, by manually creating a follow-up process, and then by learning to automate that process, you’ll be able to keep track of and close more leads successfully over time.

What's Inside:

• How I differentiate between cold follow up and warm follow up, and why you should treat these leads differently
• You cannot automate something that isn’t working.
• Why you absolutely need a whiteboard next to whoever is making the calls for you.

Even though I offer a coaching program, I know that some of you don’t need a coach. What you really need is someone to help you set up your systems so that you can plug yourself into it and take off.

I’m taking half of what I do for my one-on-one clients and offering it as a standalone program. If you’re looking for a better system or any system at all, let’s connect. We can hash out where you are and where you want to go, so I can help you fill in the missing pieces to get your real estate business moving along.

I’m going to ask you questions like:

• What is your situation?
• Are you overwhelmed?
• Are you stuck somewhere?
• What are you having trouble with?

And we’re going to work together to get you unstuck. Make sure you like and subscribe for more of my current deals. And be sure to check out my new website for building out a real estate system.

What's Inside:

• We’re going to fill in the gap in the middle of where you are and where you want to be with a system.
• How my new website gives you personalized one-on-one attention to give your business a boost.
• Why a system will help you scale up faster.