By REIClub.com + George Uno
3.5
6666 ratings
The podcast currently has 301 episodes available.
I have to confess that I'm guilty of this.
Wholesaling houses is often presented as the easiest way to get into real estate investing.
Sure it doesn't require much capital and it can generate incredible profits.
But the truth is that for beginners, wholesaling can be tough, scary, and even a little intimidating.
Michael McDonald started wholesaling a few years ago in a small midwest market, but he's grown that into a team that does deals all across the country.
What I loved about interviewing Michael was his openness to share his struggles (5 months of prospecting with 0 deals) and how he got through the struggles and on to closing 6 deals in the next 6 months.
⏰ TIME STAMPS ⏰
00:50 Michael McDonald Gets into Wholesaling
02:15 Experience with Real Estate Gurus
03:07 Investing in Real Estate Education
05:51 Breaking Your Own Beliefs
08:06 Maxing Out Credit Cards for Education
09:50 When to Quit Your 9-5
12:07 From Solo-Preneur to Partner
14:03 What Makes for a Good Partnership?
17:21 Going from Doing to Managing
19:06 Learning Leadership on the Job
21:30 How to Hire for Real Estate Investors
23:19 What KPIs Matter in Wholesaling Real Estate
26:04 The Best Marketing for Motivated Sellers
29:20 The Reality of Wholesaling Real Estate
When you're flipping a house, do you REALLY need to pull a permit?
On Justin's first flip he didn't pull a permit and tried to do his renovations quickly, which makes for a great story for us to learn from. Let's just say his answer to the age old question has flipped around since that deal.
Justin is the head of Ballpoint Marketing and Call Porter, two companies they use in their own real estate investing businesses (operating in multiple states) that you can put to work in your business as well.
Ballpoint Marketing - Handwritten (by robots) direct mailing service for real estate investors https://reiclub.com/Ballpoint
CallPorter - US based call answering service for handling inbound phone calls from motivated sellers https://reiclub.com/CallPorter
⏰ TIME STAMPS ⏰
00:00 Justin Dossey - Ballpoint Marketing
00:45 Call Porter & Ballpoint Marketing
02:00 Why Direct Mail Is Coming Back
05:00 Omnipresent Marketing
06:30 Adding value BEFORE the sale
07:12 Relational Sales vs Hard Push Sales
08:42 Big Data & Direct Mail Response Rates
11:52 Flipping Condos
16:36 What NOT to do in Real Estate
20:40 Should you pull a building permit?
22:02 Direct Mail + Inbound Call handlers
25:09 Real Estate Investing Challenges
29:18 The Obstacle Is The Way
Watch This Video on REIClub.com:
https://reiclub.com/real-estate-podcasts/flipping-houses-need-a-permit
Brad Chandler knew he never wanted to work for someone else, so when an investor flipped Brad's neighbor's house he saw the potential. So every night after putting his son to bed Brad would place bandit signs and hand address envelopes to find his first deal. After a few months he still didn't have a deal, but he stayed persistent and after 8 months of searching he landed 6 deals and quit his job.
That's when a few tips from his real estate mentors helped him take off. From "We Buy Houses" signs in every front yard, to advertising deals as "Handyman Specials" (from Ron LeGrand's cassette tapes) Brad's marketing machine began to pick up steam.
Then one day Brad was working with a coach for his son, when the coach noticed that Brad had a nervous tic when recalling his childhood memories. That's what started Brad on the pursuit of happiness, which took him back to his childhood to confront some of the traumas he faced. It turns out the secret to happiness is exploring your subconscious mind and learning to control the thoughts that it spews out.
But when Brad looked around, he saw a lack of self-love everywhere he went. Alcohol abuse, drug addiction, and failing marriages are some of symptoms of subconscious unhappiness. So Brad set out on a mission to help every entrepreneur learn to love themselves and be happier. So join his Facebook Group and take his 60-Second Self-Love quiz with the links below.
The 60-Second Self-Love Quiz https://bradchandler.com/love
How to Be Happier (for Entrepreneurs) Facebook Group https://www.facebook.com/groups/howtobehappy/
⏰ TIME STAMPS ⏰
00:00 Brad Chandler - Real Estate Investor
03:20 Dead End Job
04:30 First Deal
05:40 Real Estate Mentors
07:10 Ron Legrand Cassette Tapes
08:45 Ask This Question
10:10 Scaling Up
12:30 Implementing E-Myth
13:40 Money Pits
15:45 Childhood Programming
17:40 Subconscious Unhappiness
19:07 Brad's Mission
23:15 Happy Childhood
26:15 Fight or Flight and Creativity
What are the pros and cons (or downsides) of real estate investing?
The pros of real estate investing are pretty well known, the ability to use leverage (debt) to buy properties that generate passive income (cashflow) that also appreciate in value (equity) while giving tax benefits (depreciation).
But every investment has its cons, some of real estate's downsides are market volatility, bad tenants, vacancies, maintenance, and legal/regulatory issues. Basically it comes down to tenants, toilets, and termites.
Tony Javier's career as a real estate investor was almost derailed by those downsides. Luckily he didn't listen to the naysayers and dove right in, acquiring 10 rental properties in just a few years using the BRRRR method.
⏰ TIME STAMPS ⏰
00:00 Tony Javier - Real Estate Investor TV consultant
01:00 Carleton Sheets - Real Estate Infomercial
02:03 BRRRR Method Success
04:57 Dropping out of College
06:30 Toilets & Tenants
07:35 Worst Deal
17:06 TV ads for Real Estate Investors
22:00 Founding 10X TV
25:30 TV ads in big vs midsize markets
29:18 TV vs Direct Mail
32:49 Why 10X TV?
Scammers are just a part of life, but Dean Rogers learned how to do 'deeper' due diligence after he got burned by a known criminal. Dean lost $180,000 but sees how he could have avoided it by trusting his gut and making a few more phone calls to other people involved in the deal.
Con-men (and Con-women) know that most people want to trust other people, and they abuse that trust to scam people. To avoid scams in real estate (or anywhere) just remember this quote:
"Trust, but verify." - Ronald Reagan
⏰ TIME STAMPS ⏰
00:00 Dean Rogers - Real Estate Investor
01:43 Football Career & NFL Signing
09:54 Deciding to Retire
15:30 Corporate Life Letdown
16:20 Getting First Wholesale Deal
22:19 Real Estate Investing 101
23:47 Co-Wholesaling to Going Solo
28:08 Real Estate Due Diligence
29:31 Red Flags & Real Estate Scams
38:02 How to Expose the Scammer
45:00 The Deal Champs Podcast
As someone who embraced legal lease options in Texas, John took advantage of the opportunity the regulation created. From working with one or two FSBO sellers to eventually scaling up and moving hundreds of properties every year, John was named the King of Lease Options by Joe McCall himself.
But all of that business success set John up for some painful failures, so John thought back to his time as a stock trader came up with these 3 rules to live by.
⏰ KEY MOMENTS ⏰
00:00 John Jackson - Lease Options / Rent to Own Houses
01:00 Joe McCall names John the King of Lease Options
03:20 John Jackson & Joe McCall & Naked-Investor.com
04:46 Lease Options Explained
06:02 Are Lease Options Legal in Texas?
07:43 Downloadable Free Real Estate Contract PDF
08:30 John Gets His First Lease Option Contract
12:34 Creative DIY Bandit Signs
14:07 Sandwich Lease Options Explained
15:02 #1 Person You DON'T Want to be in Real Estate
16:53 Don't Break the Rules of Real Estate
18:31 Roadmap for Scaling a Business
20:05 Russ Whitney's Real Estate Training Business
21:47 KPIs & Gross Doesn't Buy Groceries
The #1 thing wholesalers need to do is shut up and LISTEN!
Sorry if that sounds harsh, but most wholesalers usually race to the contract instead of being quiet, listening, and building an actual relationship. We all know "The fortune is in the follow-up", but most wholesalers call their sellers to "check-in" or "follow-up" and sound like a stereotypical salesperson. 🤮
When you listen to your potential sellers' problems, it makes following up so much easier. It takes more time, but that will pull out the seller's motivation and help you to make sure you address their problems and find the win-win solution for both parties.
Noah Gilliom trains his real estate wholesaling team to focus on listening, connecting, and following-up. That's how they've increased the amount of deals they're doing from the same marketing budget, getting contracts from an average of 2-6 weeks after their initial contact.
PS: Converting more of your cold calling leads is a pure increase in PROFIT, because you've already paid for the motivated seller lead.
00:00 #1 Mistake wholesalers make
01:30 Noah Gilliom on getting started wholesaling real estate
06:43 Beating "Analysis Paralysis"
08:08 Flipping a Mobile Home / foundation issues
11:18 Lessons learn from the Mobile Home money pit
12:37 Ballpoint Marketing and Direct Mail for Real Estate Investors
13:01 CallPorter the answering service for real estate investors
15:25 How Wholesalers can follow up with motivated sellers
17:09 How long you should follow up with a seller
You don't get rich working a 9-5 because that game is rigged. Rich people don't play that game. We all know that investing in real estate is a great way to build wealth, but to ensure you keep as much of that wealth as possible you need to cheat. What the wealthy do is 100% legal, but it feels like a cheatcode because it helps them avoid the #1 wealth destroyer. TAXES. Real estate investing comes with a bunch of tax breaks and incentives, but Ryan & Cashflow Tactics have found a way to take it to the next level of tax minimization. Learn how rich people cheat with their overfunded cash-value life insurance policies.
Immigrant. Homeless. Determined. Successful.
Ray Zhang achieved The American Dream for himself and his family through hard work, persistence, and real estate investing.
Ray moved to America back in 2012 and while he landed in paradise, his life wasn't smooth sailing by any means. He became homeless quickly, but through his persistence he was able to start flipping & reselling furniture & cars to get by. With that kind of work ethic, it shouldn't be a surprise that once Ray got into real estate he made six figures on his first 2 deals.
After this episode, you'll see that the American Dream is alive and well!
Chapters
00:00 Ray Zhang Real Estate Investor
05:58 Double Negotiation, Hidden Dragon
08:40 Ray's 2nd Deal makes Six Figures
10:18 Ray's Worst Land Deal
14:21 The 2 Ways Land Makes Money
17:05 What Ray Loves About America 🇺🇸
24:40 Negotiation Secrets for Introverts
Growing up Bob Lachance had one goal, to play professional ice hockey.
So in the summers Bob worked as a go-fer in his family's construction company (Going for lumber, or screws, or coffee.) While he didn't go into the family business, it did plant the Real Estate Bug in the back of his mind while he was doing this...
But hockey careers don't last forever, so eventually Bob had to start thinking about his next career. As he thought about his options, he realized real estate had a high earning potential with low barriers to entry. So he dove right in.
This is the story of how Bob found out who he had to hire and fire to be successful.
Key Moments
02:09 Growing Up as a Construction Go-fer
03:16 Leaving college to play pro hockey
04:32 Landing his first deal without the internet
06:15 Beating Analysis Paralysis
07:16 The Big Challenge of Real Estate
07:55 Buying Preforeclosure / Short Sale Properties
08:10 The FIRST Person to FIRE In Your Business
09:50 Losing 150k Next Door to Regis Philbin
12:44 Using VAs for Real Estate Investing
14:48 How REVA Global was Started
16:11 The FIRST Person to HIRE
The podcast currently has 301 episodes available.