Real Estate Investing Mastery Podcast

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Latest Episodes:

The Fastest Way to Do a Wholesale Deal Using No Money with Gavin Timms » Episode 1062 Oct 13, 2021

Show notes

To succeed in the business of real estate marketing, you need two things: time, and money. Well, today, Gavin is here to tell you that you can actually get started in this business without putting any money down at all. And he doesn’t just mean to buy the property: he means no money spent on marketing either.

The best thing is, I know this technique works. It's how I got my start in real estate.

So, how does it work? Well, it all starts with networking. You’ve got to make connections with other investors and realtors, and build relationships with them. Start small, by focusing on just one or two people to work with.

The thing is, most investors don’t properly do their follow-up, which means they are leaving money on the table. 90% of your deals are going to come from good follow-up. So, once you have a good relationship with an investor, ask them if you can take some of their dead leads and follow up on them. If anything comes of the leads, you split the deal 50/50. All you need to do is be able to use a phone, and you can start making money.

Once you’ve done this a few times, you have the money to start taking the lead yourself and really growing your business into what you want it to be. I did exactly that, and now I’m traveling the country in an RV with my family, doing deals on the road, and having the time of my life.

To learn more and get involved in Gavin’s program yourself, go to REInetwork.com/join.

What's Inside:

—What if you’re just starting and have no money for marketing?

—The importance of networking with other investors.

—How to partner up on dead leads.

—How to grow into your own real estate business.

The Slow Flip Strategy with Scott Jelinek » Episode 1061 Oct 11, 2021

Show notes

The slow flip strategy sounds new for many, but not for my guest today. Scott has been doing this strategy for many years and this strategy that Scott created will break the great rental myth of “passive cash flow” in my opinion.

The slow flip strategy is all about buying rental properties like a car and selling them like a house. We’re talking about real passive cash flow from clear and free properties. You pay them for 5 years and you get passive income for the next 25 years at least where you get mailbox money because you’re serving as the ‘bank’ and not as the landlord. I absolutely love this strategy.

Scott has about 120 deals under this strategy, with over 50 properties already clear and free. The good thing about this? Scott has been doing this without the landlord headaches, without the BRRR strategy, and without using banks.

When Scott came up with this strategy, he was looking at $30,000 mortgaged houses that are payable for 30 years and his car cost the same amount which he paid off in 5 years. So, it got him thinking, “Why would I pay on a house for 30 years when I can do it in 5 years?”. This started his strategy of buying a property, paying it off in 5 years, and by the 61st month of owning the property, it’s all income from then on.

It’s not a get-rich-quick strategy but it assures passive income and cash flow. Today, Scott makes a steady income whether some of his properties are vacant or occupied – and doing it with a team of one, himself. All he does now is pick up checks, keep track of them, and do the cycle of being the ‘bank’ all over again.

If you want to learn how to make the slow flip strategy work for you and your business, join our new 5-day challenge that will start next week (October 18-22) and it’s absolutely FREE. You read that right…it’s absolutely FREE. Scott will be teaching live in a private Facebook group and will share all the things you need to learn to make the slow flip strategy work for you.

So, if you’re ready for passive income, for steady cash flow, and to be financially free, go to SlowFlip.com and sign up for this 5-day challenge.

What's Inside:

—What is the Slow Flip strategy?

—How you can buy a rental property like a car and sell it like a house.

—How Scott came up with the Slow Flip strategy.

—New 5-day Slow Flip challenge.

Close More Deals By Positioning More Options with Gavin Timms » Episode 1060 Oct 08, 2021

Show notes

Gavin Timms is telling you how to get creative in order to close more deals. When you position more options, you’re more likely to find something that is going to solve the seller's problem and make you money.

When you first start working on an offer, find out why the seller is selling. Get to the core of their problem. Is it the house? Can they not afford their payments? Is it just that they don't want to deal with it anymore? Whatever their problem or reason for selling is, use that to your advantage when creating your offer. If you provide them with options that are going to solve their problems while closing the deal, it’s a win-win.

Once you’ve figured out their problem, keep asking questions and gaining more information. You are going to be repeating this information back as you present options to them. Once you figure out how much they’re looking for out of the deal versus what you’re willing to pay, you need to present this carefully and strategically. Prepare the seller for the low offer so that you can work more options into it.

After you’ve figured out the price they are firm on, this is where you start using options to solve problems. Whether it be owner finance, lease option, or even a subject to. Keep it simple, have your numbers, and don’t share too much about what you can give them. That’s the key. You’re not hiding anything, but you’re not sharing information that's going to work against you in negotiations.

At the end of the day, what makes a closer a closer is the ability to find an option that makes a deal work, and not just giving up when you get a no. Use the word 'no' to be more creative in your deals. You can solve sellers' problems while closing deals and making big profits.

What's Inside:

—How to close more deals.

—How to solve sellers' problems and make money.

—How to be creative and position more options.

How To Profitably & Ethically Buy Properties "Subject To" The Existing Loan - w/ Vena Jones-Cox » Episode 1059 Oct 06, 2021

Show notes

Today, I give you a sneak peek of the first hour of a class I did with Vena Jones-Cox over Zoom. Vena is a really experienced investor and leader of the OREAI National Real Estate Investment Summit. She gives you the details and how to do “subject to” deals, a really creative and profitable way to buy properties.

A “Subject To” is a deal in which you purchase a property subject to the existing loan. This means you have found a seller whose conditions are right for you to take over their payments. These are really unique because the borrower, the seller’s name, actually stays on the mortgage, but you are the one making the payments.

I am sure you’re asking why would I want to make payments on someone else's loan? How does the house legally become mine at closing if the seller’s name is still on the mortgage? Vena goes over several examples of her own experience with “subject to” deals. She talks about what to look for, when it is the right deal, how to maximize the profit, and how to know the deal is right for you and the seller.

This is a really exciting and creative way to actually help sellers who are stuck and make a big profit. The recording of the entire class is available with membership and you can access the video at joemccall.com/sub2.

What’s Inside:

—What is a “subject to” deal?

—What to look for when making a “subject to” deal?

—How can a “subject to” deal benefits you and the seller?

How to Make Money by Partnering with Realtors - Gavin Timms & Chris Craddock » Episode 1058 Oct 04, 2021

Show notes

What do you do with dead leads? Do you realize you’re leaving money on the table? Gavin Timms interviews Chris Craddock, who shares the benefits of partnering with realtors.

Chris shares his secret to making the most out of a dead lead. When you’re making offers on leads, there are some that are going to fit right into your wholesale deal. What about the rest? Someone is going to make money on that.

If you’ve got a lead that is out of your buy capacity, this is where a realtor comes in. If you can partner with the right agent, you’re getting that referral fee and making money that is otherwise untouched. Why wouldn’t you do that? There is literally tens of thousands, even hundreds of thousands of dollars just being left on the table, when you’re not working with realtors to get properties out of your wheelhouse bought and sold.

Happy. Hungry. Humble. Smart. These are the 4 attributes you’re looking for in the realtor you partner with. You’re only as good as your team, so it’s up to you to find the best.

Making the most of your money doesn’t stop there. Chris’s business philosophy is to continue educating yourself and improving your business as a lifelong learner. You never know it all and you can always do better. Invest in the courses, the mastermind classes, the events, the coaching, whatever it is that is available to you, do it. You will see your business improve.

There is infinite money out there to be made. Find people who are doing it better than you, and learn from them. You don’t have to leave money on the table. You can turn those dead leads into serious, crazy profits!

What's Inside:

—How to monetize dead leads.

—What does it look like to partner with a realtor?

—The importance of self-improvement and education in business.

—How to stop leaving money on the table.

How To Do The BRRRR Method The Right Way with Gavin Timms & David Dodge » Episode 1057 Oct 01, 2021

Show notes

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 stands 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 their 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.

Let's Make An Offer! - An REI Secrets Series Special Sep 29, 2021

Show notes

I am live on Zoom, Facebook, and YouTube in this episode. I've collected some listings from this Zoom call and I am going over them with you here for the first time. I am detailing how to find comps, calculate the ARV, and prepare an offer.

When you're looking at a listing, it's important not to do too much research before you talk to the seller. However, you do want to be clear on the best fit price for the property. I check several listing sites, the MLS, find the rental value and create an average value. This is key when preparing any offer.

Building the best offer is going to include options. I love a 3-option-offer because you’re giving the seller choices and creating a better opportunity for yourself. Option 1 would be a cash offer; this would be the lowest price because your seller doesn't have to wait for the money. Option 2 is a lease option; this is a middle ground price, and you'd be paying monthly for the house. Finally, option 3 is an owner-financed offer; this is going to be the highest cost, because the seller is waiting long term for their money.

While having an idea of the best ARV for the property, it's not always set in stone. You can definitely change your mind and make adjustments even after talking to the seller. In this case I always blame the 3 R's and underestimation of repairs, rent value, and retail value is going to affect the ARV.

My biggest takeaways for you today are:

—Send an offer to every seller you talk to.

—Send your offers in multiple ways, especially the physical mail.

—Give your seller options.

If you stick to this advice, I can assure you that you're going to have many, many active leads. The money is in the follow-up!

What’s Inside:

—Live training via Zoom, YouTube, and Facebook.

—How to come up with comps, estimated repairs, and create a cash offer.

—Why I love a 3-option-offer.

Joe's Inner Circle Coaching Call - 02 September 2021 » Episode 1056 Sep 27, 2021

Show notes

I’m doing another live Q&A with my students today, and they’ve submitted some great questions about lease-option deals that I’m excited to answer.

First, we have a quick discussion about state laws pertaining to lease option agreements. You definitely want to check the laws in the state you are doing your deals in so that you are sure that you are doing everything the right way. In Texas and North Carolina, for example, there are a lot of extra steps that you have to take to do lease-option deals, and we go over those steps in detail.

Next, we go over some credit recovery programs that use rent payment history to help build credit. Services like these are great to offer tenant buyers to help them qualify for a mortgage. This builds goodwill with your tenant-buyer, and helps you sell the property in the end. It’s all about creating win-win situations like this.

Plus, we talk about home warranties, making offers in high-demand areas, seller motivation, and using your follow-up to create deals when there don’t seem to be any deals to be found.

To learn more, join my new mentoring program at JoeMcCall.com/fast.

What's Inside:

—A live Q&A session with my students.

—Check your local laws: a cautionary tale.

—Credit recovery programs for tenant buyers.

—How to use follow-up to create deals.

Partnering Up Made Me More Money with Less Effort - Gavin Timms and Michael Schwartz » Episode 1055 Sep 24, 2021

Show notes

Want to make more money for less work? Of course, you do! We all do. That’s why Gavin is interviewing Michael Schwartz today. He’s 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.

Gavin likes to break real estate investing down into three phases. Phase 1 is learning the basics, and get 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 works 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 do 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.

Joe Answers Your Most Common Lease Option Questions - Part 3 - The REI Secrets Series Sep 22, 2021

Show notes

We’re continuing our Most Common Questions series today with Part 3.

We’re doing a live Question and Answer session today with some of the most common questions that I get regarding lease options and creative financing deals. I got a ton of great questions, covering things like partnering with realtors, tenant insurance requirements, and an update on the current laws regarding sly dialing and sly broadcasting. We also talk about Freedomsoft and Propstream, working with virtual assistants, out-of-state property management, and much more.

Enjoy this Q&A and I hope you got a lot out of this!

What’s Inside:

—A live Q&A session with my students.

—How and why you should partner with realtors.

—The difference between sly dial and sly broadcast.

—What should your monthly budget look like?