Real Estate Investing Mastery Podcast

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Latest Episodes:

The Niche of Recovering Surplus Funds - With Nick Fulmer » Episode 1054 Sep 20, 2021

Show notes

One of my favorite investing strategies is to find a small niche that you can dominate. Our guest today, Nick Fulmer, did exactly that in the special area of recovering surplus funds and overages.

One of the things we talk about a lot on this show is how, in real estate, we really are helping people solve problems. They need money, or they need to sell their house so they can move, or whatever the case may be. Well, Nick found that by recovering overages and surpluses, he was able to help people even more.

In a nutshell, when someone doesn’t pay their property taxes, the county will come in and auction off the property. But, since it’s an auction with investors, the nature of the bidding usually drives the price up, and the property sells for more than what is owed. The county doesn’t keep that money, but they don’t do a good job of letting the homeowner know that they can make a claim.

That’s where Nick comes in. He works with the county to recover the money and takes a percentage of the overage as a commission. He recommends working with an attorney and having them submit the actual claim, that way you are working with a reputable 3rd party, and everything is covered legally.

To find out more about surplus funds and overage recovery, go to OverageSyndicate.com.

What's Inside:

—Finding your niche.

—What are surplus funds?

—How to recover tax sale overages.

—Use attorneys to submit your claims.

Follow the Blueprint and Get 85k in Closing in 30 Days! with Gavin Timms, Terry & Pamela » Episode 1053 Sep 17, 2021

Show notes

Gavin Timms has a brand new format on REInetwork.com and he’s brought two of his clients, Pamela and Terry, on today to tell you all about it.

They’re about to close out 100k in their first month. Talk about massive action! They really dove into the program and ran with it, and the results speak for themselves. They’re here today to tell us all about it.

The real secret is in their partnership. Terry is the “go-getter” sales type, while Pamela is keener on the organizational side of things. By working their strengths together, they’ve managed to close on two really big deals right out of the gate. By being aggressive with their marketing, and consistent with their follow-up, they’ve found success.

We also discuss the importance of taking time off, both from the business and the business partner, so that we don’t lose our minds to real estate. It doesn’t matter how successful you are; if you’re miserable, what’s it all for? The best thing is that by going full-time into real estate, Pamela and Terry both have the time to pursue their other passions too.

To get involved in the program yourself, go to REInetwork.com/join.

What's Inside:

—New format for Gavin’s program.

—We talk with two of our clients: Pamela and Terry.

—How they got 100k in closing in their first month.

—Play your strengths.

Joe Answers Your Most Common Lease Option Questions - Part 2 - The REI Secrets Series Sep 15, 2021

Show notes

I got so many questions during my first live Q&A session that I had to come back with a second episode!

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. We cover choosing a virtual market, whether or not you should market in war zones, lease option legality issues, and more. Plus, we discuss different marketing strategies, subject and seller financing, and forming your own LLC.

I have even more questions to answer, so this is only the second part of a small series. Be sure and stay tuned for the rest of the Q&A!

What's Inside:

—A live Q&A session with my students.

—Choosing a virtual market: hot market or low competition?

—Legal issues with Lease Options in Texas and North Carolina.

—Why and how you should form an LLC.

How To Max Your ROI and Min Your Risk - With Matt Theriault » Episode 1052 Sep 13, 2021

Show notes

Is it possible to maximize your ROI while, at the same time, minimizing your risk? We’re going to find out today, thanks to special guest Matt Theriault from Epic REI TV.

I always thought that the higher the returns on your investment, the higher the inherent risk. And to some degree, that’s true. But you can beat the odds by changing the game a little. The key is to diversify into an uncorrelated market space. Basically, don’t put all of your money into real estate, because if the real estate market decides to tank tomorrow, you’ll be completely out of luck.

There are a lot of different ways to do this. You can buy a car, and rent it out on rideshare apps like Turo. You can invest in a life insurance account, with slow but guaranteed returns. The real key is to always keep your money working for you. Or, you can do what Matt did, and start investing in cryptocurrencies.

Things really started to take off when Matt figured out that he could borrow money using his cryptocurrencies as collateral, without actually spending his “coins.” Then, he takes that money and uses it to buy more income-producing properties. The income produced from that goes back into more crypto, and the cycle continues, but growing every time.

To learn more about Matt’s system, check out EpicREI.tv.

What's Inside:

—How to maximize returns while minimizing risks.

—The velocity of money: make your money work for you.

—Diversify your holdings.

—Crypto: which coins to buy, which coins to avoid.

The Fundamentals of Virtual Wholesaling with Gavin Timms » Episode 1051 Sep 10, 2021

Show notes

Whether you’ve been investing for years, or are just dipping your toes into the real estate markets, I believe that your fundamentals have to be solid if you want to succeed and grow your business. That’s why Gavin Timms is going to be sharing with you his seven key steps in virtual wholesaling.

Step one is picking a market. There are a few things to consider when doing this, and he recommends you start with one you know: your local area. Step two, you need to find the cash buyers in that market, and then step three, run your marketing campaign.

Step four is really when you start building relationships by talking to the sellers. Find out what it is that they want in a deal, and use that knowledge in step five, which is when you make offers.

Then, we get to the money step: step six, follow-up Remember, the profit is in the follow-up! And finally, in step seven, we actually close the deal.

Once you master these steps, it’s just a matter of rinse and repeat. Talk to more people, make more offers, follow up on more leads, and close more deals.

What's Inside:

—Solid fundamentals are key.

—Start with a solid foundation: pick a market, find cash buyers, marketing.

—Build relationships: talk to sellers, make offers.

—Finish strong: follow up, close the deal.

Cash Flow Investing With Mobile Homes - With Adrian Smude » Episode 1050 Sep 08, 2021

Show notes

If you’re like many real estate investors, you’ve steered clear of mobile home parks because they seem both confusing and complicated. Well, my guest today, Adrian Smude, found a different way to do things, and he’s here today to tell us all about how he built a business on buying and renting mobile homes with his wife.

Adrian works primarily in Florida, so he recommends buying the land along with the mobile home. That way, if a hurricane or something comes and wipes away the mobile home, at least you still have the land.

Some mobile homes will require too much maintenance or repair costs to be worth it. That’s why Adrian only works in a small area around his home. That way, he can go and see the properties himself before deciding what to buy, and what to pass on.

Adrian also found a lot of success by partnering with his wife. In fact, he named his business My Wife Buys. I know I’ve had some luck in the past by having my wife write, sign, and send letters out to sellers saying “My husband and I are looking at properties in your area.”

Plus, he’s got tips on when you should sell one of your mobile homes and turn that money back around into the business. By working on these strategies, Adrian has managed to get 30 properties under his name, and he’s got a lot of advice to share that he learned along the way.

What's Inside:

—How to find and choose mobile homes to buy.

—Use the lease option to build cash flow.

—Use the money from a mobile home sale to buy more homes, increasing that cash flow.

—Avoid “analysis paralysis.”

Negotiating Real Estate Liens With Gavin Timms & Melissa Dodson » Episode 1049 Sep 06, 2021

Show notes

Liens aren’t fun. They aren’t fun to talk about, and they certainly aren’t fun to deal with. But sometimes, the ability to negotiate a lien will make or break your deal.

That’s why I’ve brought my friends Gavin and Melissa onto the show today. Melissa recently was able to work a $106,000 lien down to only $6,000, and she’s going to tell us all about how she did it.

“It was just really a matter of spending a lot of time and talking to them and explaining to them what was going on and a lot of being nice to people that weren't very nice to me because they're collections people.”

That’s really the key. At the end of the day, negotiating a lien is going to require you to use the same negotiation skills that you already rely on to make the deals. You have to reach out and build those relationships, and then people are going to be willing to work with you.

Melissa says that this even applies to IRS liens, which are typically the hardest to work with. The IRS is willing to negotiate, but they have a lot of legal hoops to jump through. You’re going to need a lot of documents from the seller. Melissa even recommends hiring a transaction coordinator to help handle the documentation. That way, she is never in possession of personal information like the seller’s social security number.

Melissa and Gavin also discuss probate laws, heirship affidavits, and the importance of buying properties at a discount. Melissa actually overspent on the renovation for the house we talked about earlier, but since she bought it at a discount and negotiated the lien down to almost nothing, she still made a nice profit.

What's Inside:

—How Melissa knocked $100k off a lien.

—IRS liens and how to negotiate them.

—Be a relationship-builder.

—The importance of buying discount properties.

—What is an heirship affidavit?

How to Magnetically Attract 3 to 4 Deals Per Month Just Using Social Media » Episode 1048 Sep 03, 2021

Show notes

Today’s show is all about marketing, specifically using social media. Special guest Nate Armstrong is going to tell us all about how he turned his business around by using social media marketing.

Look, everyone is on social media all the time, and you might even be watching me on YouTube right now. Why not use these tools to help grow your business?

Nate shows us how to combine targeted ads with an organic marketing strategy. You’ve got to get yourself out there on the different platforms. Facebook is a great one to use because of how Groups work. A Facebook group is kind of like your own virtual party; you can create a niche group and bring together a whole bunch of people who want to hear your message.

He shows us exactly how to pick a niche and research it on Facebook, and then how to turn that into a working Group or Business Page. Then, once your organic marketing is running smoothly, you can supplement it with paid ads. The ads really just increase your exposure on the platform, so you need to have a good online presence first.

This is where your relationship-building skills are going to pay off. Be someone that the sellers want to work with, and they’ll come to you with deals.

What's Inside:

—Be someone the sellers want to work with.

—How to build an organic marketing strategy with Facebook Groups.

—Choose, research, and target a niche.

—Once established, boost your online presence with paid ads.

Virtual Profits Workshop Sep 02, 2021

Show notes

I had breakfast with a friend of mine, David Dodge, who does a lot of deals. And I was one of the guys who helped him get started about 6 or 7 years ago. I remember when he started, he spent tens of thousands of dollars on education but wasn't doing anything with it.

He needed a coach to clear the distractions and point him to where he needed to focus. All I did was give him a scorecard. He created the plan and came back to me every week with a report on his numbers. And that for him is what triggered and exploded his business. He gives me too much credit for it but his ultimate key to success is that he's a massive action taker.

But we all need a coach who will be on the outside looking in to help us focus on what we need to focus on. You don't have to have everything figured out but you need to take massive imperfect actions. What are the two things you need to focus on? Marketing and making offer. That's it. Then you find someone who can and will hold you accountable.

So, next week, I'll be doing another 5-day virtual profits workshop with my business partner, Gavin Timms. Starting Monday, we'll be teaching you how to make virtual deals. It can be intimidating to do deals on properties that you've never seen but it's not that hard as long as you have the right systems in place. Trust me, I was able to do deals in the country while I was in Europe for months. In this workshop, we will share with you the systems that will make virtual deals work for you.

This is FREE and all you need to do is sign up to secure your spot. It starts on Monday, September 6th, and slots are limited. What we'll be teaching you here is thousands of dollars worth of knowledge. You don't want to miss this.

Go to VirtualProfitsWorkshop.com

Joe Answers Your Most Common Lease Option Questions - Part 1 - The REI Secrets Series Sep 01, 2021

Show notes

I get a lot of questions about lease-option deals during my live classes and coaching sessions. And it’s little wonder: lease options are my thing. I’ve even written a few books on the subject, which you can get at the links below.

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. We cover contracts, the limited power of attorney, and seller motivation. We also talk about partnering with realtors, how and when you should exit a lease option, what to do with deposit money, closing procedures, and more.

I have even more questions to answer, so this is only the first part of a small series. Be sure and stay tuned for the rest of the Q&A!

What’s Inside:

—A live Q&A session with my students.

—What contracts do you need to do a lease option deal?

—A discussion on seller motivation.

—Can you do lease option deals without a realtor license?

—What’s the quickest way to find buyers for your lease option contract?