Real Estate Investing Mastery Podcast

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Latest Episodes:

How to Pick a Virtual Real Estate Market with Gavin Timms » Episode 1047 Aug 30, 2021

Show notes

Doing real estate deals online is amazing. It allows you to make deals from anywhere in the US. But it can be overwhelming to try and pick a virtual market to get started in.

Literally, everyone overthinks this. And I get it. When you look at a map of the 50 states, it’s a lot of ground to cover. Where do you even start?

Well, the trick is to start small and grow from there. The best areas to start your marketing in are the areas you already know. That means the area you live in, where you grew up, and where you went to school. If you already know something about the neighborhoods, you’re going to be at an advantage when it comes to doing your marketing.

And if you have friends or family in those areas, all the better. They can go look at properties for you and help with the boots-on-the-ground stuff that you may not want to pay someone for yet.

Once you’ve gotten some success, scale up your operation into the surrounding counties. Then, you can grow on your financial gains and expand into bigger markets. Remember, the only thing that changes in a higher-priced area is the prices. Your strategies and skills stay the same.

What's Inside:

—How to avoid being overwhelmed when choosing a virtual market.

—The best area to start in is the area you already know.

—Use friends and family to help with your groundwork.

—How to build on your success and grow into newer, bigger markets.

$18,500 in 30 Days From New Marketing with Gavin Timms & Chris Arnold » Episode 1046 Aug 27, 2021

Show notes

Consistency is extremely important when it comes to making a living with real estate. If you want to do this full time, like I know a lot of you do, you’re going to have to gain a certain level of consistency when it comes to doing deals. You can’t close on four contracts one month, and only one contract the next, and expect for that to be workable as your main source of income.

That’s why we’ve brought Gavin Timms and Chris Arnold on today to talk about how he was able to up his consistency. It took him about 90 days to really get going to where he had multiple contracts a month. But then, Chris hit a few speed bumps. His acquisition manager ran into some health problems, and suddenly Chris was left to do everything on his own.

Left alone with an overwhelming number of leads coming in, Chris had to step back and reevaluate what he was doing. It turns out he had given a little too much leeway to his acquisitions guy, and without him, he was in way over his head.

I’ve learned this the hard way. The quickest way to tank a business is to hand it over to someone else. Even as you start to outsource your administration tasks, you still need to stay involved and check in with your people every so often.

By focusing on only the best leads, Chris was able to regain control of his business, and when his acquisitions manager came back, they worked up a new system for sharing the load. The trick was to slow down, but never stop.

The biggest key to making consistent deals, though, is in the communication work. You have to try and make 50 calls a day to get that lead pipeline established. Chris doesn’t always get to all 50 calls every day, but guess what: he tries, and by making that volume of calls, he’s consistently bringing in 6 contracts a month. And texting works wonders too; a lot of people that don’t like to talk on the phone will answer a text.

We’ve got a text system that helps automate and organize the process for you. And to join the group with Gavin, Chris and I, go to REInetwork.com/join.

What's Inside:

—Consistency is the key.

—How to up your number of successful contracts per month.

—Sometimes you need to slow down: but don’t ever stop.

—Focus on working on the business, not in the business.

Raising Private Capital For Beginning Investors » Episode 1045 Aug 25, 2021

Show notes

When people hear words like “private investor money” or “capital,” they start thinking big business: huge commercial buildings, development projects, or huge apartment complexes. But our guest today, Hunter Thompson, is here to tell you how you can raise capital to fund your real estate business.

Hunter Thompson and his company, Asym Capital, are all about making money appear for investing. Hunter calls it “the magic trick: make the money appear, and you can participate in the space.” It’s not an easy thing, convincing someone to give you their money, but Hunter has made a career out of it. This is where your relationship-building skills are going to shine.

You’ve got to find the right investors, too. Try to approach somebody who is actively wanting to buy or develop more, and chase the hot markets. That’s what Hunter did in the 2010s with mobile home properties. And, he’s doing it now with senior living centers.

Hunter loves talking about finances, and he’s got a lot of knowledge to share. That’s why he wrote a book, Raising Capital for Real Estate, How to Attract Investors, Establish Credibility and Fund Deals. You can get the book and unlock additional features at RaisingCapitalForRealEstate.com.

What's Inside:

—Raising capital isn’t just for big business.

—How to convince investors to give you their money.

—Use the loan itself as collateral.

—Chase investors in the hot markets.

Follow Up Changes the Game with Gavin Timms » Episode 1044 Aug 23, 2021

Show notes

Today, Gavin Timms is going to be talking about something that isn’t very exciting, but makes all the difference when it comes to making deals. That something is follow up.

Now, I know following up with sellers tends to be the least exciting part of the whole process, but I’m here today to tell you that over 90% of Gavin’s deals only happen because he does the follow up like he should. Remember, when you make an offer and a seller says “No,” what they’re really saying is “no, not yet.” By going back to those sellers after 30, 45, 60 days and checking back in, you’ll already have a relationship built when they decide that they are ready.

The vast majority of deals don’t happen with just one phone call. Remember, the profit is in the follow up! But when, and how?

Well, the first question is a little tricky. There really is no set answer for the best time or how often to reach back out to a seller. It really all depends on the property and the situation. If it’s a hot lead, follow up within the week. Colder deals can wait longer, even a few months.

The trick is to set tasks, update them, and take good notes. That way, if it’s your VA reaching out instead of you, they know the situation. They know the questions to ask. Communicating with sellers is all about building a rapport, and good notes are the key to doing that. Again, not exciting, but crucial to success!

If you want to learn more or partner with Gavin on some deals, go to REInetwork.com/join.

What's Inside:

—“No” just means “Not yet”.

—The profit is in follow up.

—How to use your CRM to help build rapport with sellers.

—Tips for using automation.

Using Freedomsoft To Sell Your Deals Fast & Easy - Without All The Hassle & Run-Around » Episode 1043 Aug 20, 2021

Show notes

Nothing in life is ever easy, right? The same goes for real estate investing. Luckily, though, there are some tools to make things easier when it comes to your real estate business. Today, we’re going to be taking a close look at one of these tools: Freedomsoft.

The Joe McCall Signature Edition of Freedomsoft, available at freedomsoftjoe.com, is loaded with features and tools to help organize and automate your real estate investing. Using a real deal submitted to me by one of my students, I show you step by step how to use Freedomsoft to find a list of leads.

Then, still using Freedomsoft, I show you how to sort those leads and start reaching out to contact them. You can skip trace, you can send voicemails, manually send texts, and even draft and send out direct mail all within Freedomsoft. And, it keeps track of what you’ve done with each lead so that you can stay organized.

Even better, the Joe McCall Signature Edition includes copies of my contracts, letters, scripts, workflow, and follow-up sequences... everything I use is in your hands. Get it now at freedomsoftjoe.com.

What's Inside:

—How to use Freedomsoft’s Marketing Lead Finder to source leads.

—The best way to reach out to potential buyers.

—How to use Freedomsoft to automate your workflow.

—A live question-and-answer session about Freedomsoft.

Why Working With Realtors Is Awesome For Buying And Selling Your Deals - The REI Secrets Series Aug 18, 2021

Show notes

I’ve heard a lot of investors say that they really hate working with realtors. I don’t get that at all! If you’re not willing to work with realtors, you’re leaving money on the table.

The best thing is, realtors can help you find deals, and they can help you sell deals. Like everything in this business, it comes down to your relationship-building skills. If you can get a realtor on your side, they’ll call you up with a deal before they go through the hassle of listing it on the market.

Using the internet, you can find a realtor in your target area pretty easily and get their contact information. I show you step by step how to do this with a few examples.

The best way to approach a realtor is to say, “How can I help you grow your business? How can I help you make more money?” They’re going to want to help you because it helps them in turn. It’s about creating a win-win situation for the realtors. When they give you more deals, they get more commissions. Plus, you can offer to let the realtor double-dip on the commission, which means that they represent you as the buyer, and also as the seller. Talk to them like that, and they’ll start seeing dollar signs.

You can use a similar approach to getting a realtor to sell your deal. Find them online, get their contact info, and reach out. Get the realtor on your team, and they’re going to find the agent, find the title company, and help you wholesale the property.

What's Inside:

—Realtors can be a huge source of leads.

—How to find and approach realtors in your target area.

—Create a win-win situation to build a solid relationship.

—Realtors can also help sell your deals.

Pop Up Coaching Call with Gavin Timms and Mike Hamilton » Episode 1042 Aug 16, 2021

Show notes

Gavin Timms takes the reins today on a live coaching call with St Louis area investor Mike Hamilton.

He’s a member of our new accountability group, and we talk about his experiences investing over the past few years. He learned the hard way how costly it can be to sit on a property for too long. I like to give myself seven days to move a property. Get the property in front of buyers, and you’ll get offers.

That’s why marketing is so important. Hire a VA to do that kind of stuff for you, and you can focus on making the deals. With the admin duties out of the way, you have more time to pursue better leads, and ultimately, make more money.

Mike’s big goal is to make enough to be able to quit his job and pursue real estate investing full-time, while also being able to put away money for his children. I go over investment strategies so that once he makes his first big deal, he can build on it.

We also talk about my number one rule: don’t buy a property if you can’t wholesale it. Sitting on a property ends up costing you money, and wholesaling is your ticket out.

To join our network, like Mike did, go to http://REInetwork.com/join

What's Inside:

—Mike shares his experience investing in the St. Louis area.

—The importance of marketing.

—Outsource your admin.

—Wholesaling can save you.

Quick Tips To Making Fast Cash Offers » REI In Your Car » Episode 1041 Aug 13, 2021

Show notes

My students have been coming to me with a lot of deals lately that are, unfortunately, not good deals. And it’s because their offers are too high. So today, I want to talk about the best ways to make cash offers.

I get it. The markets are super hot right now, and it can be intimidating to try and make a cash offer. But guess what? You have to get out there and do it. The number one rule in real estate isn’t location, location, location: it’s make offers, make offers, make offers.

95% of offers get rejected. I like to say that if you haven’t made somebody mad by noon, you’re either not marketing hard enough, or your offers are too high. We’re in this business to make money, and that means getting properties for the lowest possible offers.

So, how do you do this? There are two ways. First, you use a time-tested formula called the Maximum Allowable Offer or MAO formula. I break down exactly how it works, and show you how to use it in different areas. The second method works especially well on properties that need a lot of updating, and it involves getting the average of the lowest comps sold in that neighborhood, and working from there.

It’s also really important to make yourself a list of minimum criteria that you need for a good deal, and don’t stray from it. Trust me, bad deals are worse than no deals!

What's Inside:

—The number one rule of real estate: make offers.

—How to use the MAO formula to calculate cash offers in different areas.

—The Average of the Lowest Sold formula.

—Make a list of rules and stick to it: bad deals are worse than no deals.

Creating A Simple Marketing Plan & Scorecard - The REI Secrets Series Aug 11, 2021

Show notes

The key to success in real estate investing is marketing. In fact, I often tell people that “we aren’t in the real estate business, we’re in the marketing business.”

In order to have a steady flow of income, you’re going to need a steady flow of leads. The way to do this is to talk to five leads every day. It’s really that simple, but you have to make yourself do it. Even if only one or two of those leads a week want to talk about a deal, you’re planting the seeds and building the momentum. When you do your follow-up, those other leads are going to pay off, too.

It’s also extremely important to have realistic goals if you want to be happy in this business. There’s no point in making a million dollars a year if you’re stressed out of your mind about it. Using a simple spreadsheet, I show you how you can live a great, happy life with much less than that. If you look at what you want to achieve and work backward, you can determine exactly how much you need to be bringing in every month.

And finally, I show you how to make a scorecard so that you can stay on target every day. And, if you send that scorecard to someone else, they can help to hold you accountable and keep you moving toward success.

For more information on how to do lease options, go check out my webinar at SLOclass.com.

What's Inside:

—Marketing is the most important part of real estate investing.

—Be a deal finder, not a deal maker.

—How to build an attainable marketing plan.

—The importance of realistic goals.

How to Find a Wholesale Partner with Gavin Timms » Episode 1040 Aug 09, 2021

Show notes

Partnerships are key to success in real estate investing.

If you’ve listened to Gavin talk before, you’ve probably heard him say it a million times. He’s never done a single deal by himself. He always works with a partner. So today, he’s going to tell you all about how to find partners, what to look for in a potential partner, and how to take all this information and use it yourself.

First of all, you need to find someone who is in line with your core business values. What are your goals for the business? Find someone who wants the same things. For Gavin, it’s all about working on the business, not in the business, so you need to find someone who is going to help you accomplish this.

Don’t waste your time trying to partner with someone who is doing 10 deals a month. They aren’t going to have time to work on your deals. At the same time, you don’t want to partner with someone who is completely new to real estate and hasn’t taken a class or read a book. You want to find someone who is trying to grow and expand but has a solid base to start from.

There are a lot of good sources online to find wholesalers to partner with. Facebook groups, meetup.com, and Craigslist can all be a great way to meet a potential partner. Also, if you have good relationships with cash buyers, realtors, and property managers, you can ask them. They not only know wholesalers looking to grow, but they might want to partner up with you themselves.

At the end of the day, it’s all about networking and relationships. To join Gavin and the REI Network, go to REInetwork.com/join.

What's Inside:

—Collaboration is key.

—What to look for in a potential partner.

—Your goals must be aligned.

—Partner with someone on the same level as you.

—Where to find a partner.