Value Driven Investor Podcast

I want to talk about the frustration of trying to find new opportunities. Every single day as an investor, we're hunting for new opportunities. And it can be frustrating. Especially when you're new. I have tips on how to enjoy the hunt on this Insight.

Ready to join a community of like-minded and driven investors? Head here and join our community: www.valuedriveninvestor.com

In part one we talked about when and why you will consider hiring outside help to complete your real estate investment project.

Hiring a general contractor is not an easy decision, and we outlined how you should approach forming relationships in episode 10.

Today, in part 2, Tim details how he found his long-time contractor and how that relationship works and has stood the test of time.

You will also learn how to interview a contractor with exact details on what you need to cover before hiring them for a project.

And Bob details why it's so important to start small with a story about testing a contractor they would never hire for a second job.

Because, ultimately, if you want to build a business and increase your ROT (Return On Time) you need to partner with a good general contractor and DON'T do it yourself.

Ready to be around people that share the same passion about real estate investing as you? Join our community and Live Life On YOUR Terms: www.ValueDrivenInvestor.com

Today Murph goes into what really inspires success. Work ethic, yes, but even more important are three words. Those that have found a level of success in their lives will all say that these three words are what took them from survival, to "living life on their terms."

Ready to take your investing to another level? Join our community and fast-track your success: www.valuedriveninvestor.com

The Value Driven Investor Podcast is produced by Digital Legend Media: www.DigitalLegendMedia.com

There's a progression most investors start to feel after wholesaling real estate for a while. They want to stop the quick transactions and actually get their hands dirty. They want to actually transform the property and make it into something a family will actually appreciate. So what is the next step of your investing journey? Today we are going to dive into the opportunities and risks of working with general contractors. We will talk about the costs, tax advantages, and how to structure the relationship.

We will also talk about why you may NOT want to work with a GC, including more control and increased profit potential.

Of course, Bob and Tim have a history with contractors, both good and bad.

Ready to take that next step? Find a group that has your back. Experts you can actually bounce your problems off of personally. It's called the Value Driven Investor group, and you can be one of the first to get in. Sign up here: www.ValueDrivenInvestor.com

Have you designed your life yet?

When I was 25 years old, just out of college, I sat down and designed mine from that day forward. I was on a mission to make my dream come true. Today, I have achieved the goals I set for myself.

Now, I have redesigned the next phase of my life.

Let's explore that in this VDI Insights.

Ready to Live Life On Your Terms? Get notified and early pricing for the launch of the Value Driven Investor Community: www.ValueDrivenInvestor.com

Today we are going to talk about knowing your numbers in the real estate game. There's a fine difference between gut and gamble, and most of that has to do with the experience of knowing your numbers.

Today we will cover why knowing your numbers is so important, and how to determine those numbers by setting a realistic ARV for the property. How to determine the after repair value and how to break those numbers down when real estate flipping.

Tim Murphy has a great story about fighting the reality of the numbers and going with a gamble.

And Bob has a great example of knowing your market so the big price you pay from a wholesaler is worth it.

Buckle up, we're talking numbers, and numbers will save your bank!

Ready to become a Value Driven Investor and Live Life On YOUR Terms? Then click here: www.ValueDrivenInvestor.com

2:16 Tim's story about ignoring the numbers. Then the gamble.

9:57 Bob's story about fighting the gambler and trusting those close to you

13:40 3 things you need to know as you start the process of crunching the numbers.

18:11 What is a ARV and why is it important?

20:52 What wholesalers need to know about ARV

25:40 The importance of passing along material and labor when calculating your ARV

32:00 Knowing your area. The number thing you need to understand -- the dynamics and value of your area

35:40 A tool to use to have a baseline for your numbers

If you were dropped into a city you've never lived in, and had a thousand bucks in your pocket, what is the fastest way to make money?

Wholesaling.

Wholesale real estate is a hot topic and there are endless gurus online that want to teach you the game.

Today's episode of the Value Driven Investor is dedicated to the low-hanging, but competitive fruit of wholesale real estate.

Tim Murphy and Bob Grand have a deep history in this practice and believe it's a great starting point for those getting into the real estate investing game.

You will walk away from this podcast understanding what wholesaling real estate is, how to start, how much you can make, and the biggest thing to look out for when learning how to do your first deal.

This is information most people pay for, so take out a piece of paper, or open up your Evernote, and start taking notes.

When you start your journey into real estate investing, one of the first components is financing. You need to learn how to access money.

Today we are talking about access to money that's outside of the traditional system. Hard Money Lending usually comes from a private investor or investment group and it's tougher to get but there are some benefits.

Today we'll share stories about our history with hard money lenders, how much you need to put down, how the payments are calculated, what happens if you default, and the regulation behind hard money lending.

Ready to Live Life On YOUR Terms? Join the VDI Community: www.valuedriveninvestor.com

You, as a "Value Driven Investor" must create your own path. This is the beauty and struggle of becoming a real estate investor. You have thousands of different ways you can go. But, the challenge, you must design your path.

Last episode we talked about the question you should be asking yourself first.

"Why Real Estate Investing"

If you have not found a reason that makes the hair on the back of your neck stand up... Keep digging

If you have found your WHY.

Then you are ready to move on to the next step of the Survival Phase.

Step #2: Of The Survival Phase = drafting your mind map or what we like to call "designing your life."

The two biggest questions you have to ask yourself is: What is your ultimate goal? How do you plan on reaching it?

That's what we are digging deep into on today's episode.

We are going to talk about Murph's ultimate goal, which was "mailbox money," and the path he chose to get there.

This insight will give you the drive, the "WHY", behind Tim Murphy. If you're stuck with your "why," that's okay. Your "why" will one day come pouring out, like Tim's. Details in the podcast.

Tim's personal website: http://www.timkmurphy.com/