Real Estate Investing Mastery Podcast

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Latest Episodes:

Limited Creative Financing Holiday Bundle Sale! Jul 02, 2021

Show notes

Happy Independence Day, everybody!

I always do a special sale on holidays and these special sales sometimes go for 90% off. No, I’m not kidding! This is legit! I’m doing an Independence Day sale.

I did a class with Matt Theriault about a year ago and we did a series of episodes recently about everything creative financing. From that class, we have a bunch of physical books and a bunch of USB sticks with our course. We don’t want these to just sit here and go to waste. So, I’m doing an inventory blow-out sale to give away these Creative Financing Lab books to the first 130 people who buy. And even if you’re not part of the first 130 buyers, we will still give you the digital copy of this book.

This is material from our 7-week course that contains lease options, owner financing, subject tos - pretty much all things creative financing - plus raising private money! This course was originally sold for $2500.00. But that’s not all you’re getting in this bundle sale.

On July 9th, I will be doing a LIVE Wholesaling Lease Options Masterclass which is a very special training, because I'm going to be teaching my flagship method (wholesaling lease options) in the context of 2021. The live class will be recorded and you will have lifetime access to all the recordings and resources given in this class.

But, wait! There’s more! Aside from the Creative Financing Lab physical bundle, Creative Financing Lab digital access and the Wholesaling Lease Options Masterclass, you will also get:

—FOUR Live Marketing Masterclass Recordings($1,000+ value)

—'New Market Challenge' Recordings ($197+ value)

—Bonuses included as well! (priceless)

That’s a total value of over $5000 and you can get all these at a super sale price of $97! Yes, you read that right - ONLY $97. You can either throw $97 towards a cheap and uninspiring pack of fireworks. Or, you can invest in yourself... and get all the training you need to get started, and scale your REI business today!

The physical copies are very limited, and I am only offering this bundle through the weekend to the first 130 people. The holiday bundle will expire on Wednesday, July 7th, 12:00AM PDT so GET IT NOW! https://www.joespecial.com/

Overcoming Roadblocks Many Beginning Investors Face With Viktor Jiracek » Episode 1028 Jun 30, 2021

Show notes

In this episode, we're going to be talking about some of the common obstacles that a lot of beginners face getting into this business. If you’ve done a deal or two, you're not a beginner anymore. But if you've been going through the courses, watching the videos, listening to the podcasts, maybe even dabbled a little bit and done some research and made some offers, but you haven't done your first deal yet, you're a beginner. And guess what? All of us started as beginners. My guest on this episode is Viktor Jiracek and he specializes in helping beginners to get unstuck.

Don’t fall into the beginners’ trap of setting unrealistic goals and giving up too quickly. You need to take one step at a time and persevere. Don’t be afraid to ask for advice. The most important thing is to take action. You need to make a lot of offers if you want to do deals. Once you get started, it will change your life.

Getting into hot markets is tough for beginners. It’s better to focus on smaller secondary markets, perhaps a little more rural. You can get a lot more traction in these areas because there's less competition. Prices get bid up less and sellers are talking to fewer people.

There’s a ton of free resources that you can use to take your first steps. Facebook groups, Craigslist, Driving for Dollars. Don’t be afraid to admit that you’re a beginner. It takes the pressure off if you’re not pretending to be an expert when you’re not. Use the opportunity to speak to people and learn from them. Ask lots of questions.

Figure out your numbers and set clear goals. Write them down. Clearly define where you are now and where you want to get to and it will be easier to figure out the steps you need to take to get there.

What's Inside:

—How do you take your first steps in real estate investing?

—How your speed to income is directly proportional to the number of offers that you make.

—Why small markets are more accessible to beginners.

—The best free methods to use to get started.

—How to gain confidence and build your knowledge.

—Why setting clear goals for your business is essential.

Is it 2006 all over again? Mistakes to Avoid in the Next Crash » REI In Your Car » Episode 1027 Jun 28, 2021

Show notes

We all remember what real estate was like in 2006 (and, subsequently, the years that followed). Today I talk about how 2021 is a parallel to 2006, how we can take advantage of it, and how to prepare ourselves for a potential downturn.

Between 2003 and 2006, real estate investors, and even people who were not familiar with real estate, we're able to buy properties and turn around and sell them quickly for a large profit. Basically, they were selling on speculation. We are seeing the same trends right now, in 2021. I’m sure we all remember the crash in 2008, and most of us were probably affected by it.

The truth is, we may have a few more years of this kind of appreciation and speculation, BUT we’ve got to be careful. And we can be; the real estate market isn’t like the stock market, things don’t change on a dime, and you can usually see the trends three to six months out.

What should you watch for? If someone who doesn’t know a thing about real estate is able to go in, buy a property, and sell it quickly for a hefty profit, that’s a sign. That’s not real estate investing; that’s luck and speculation. That’s a trend that can’t last forever. Watch the market.

You should know three to six months out when the market is going to slow down, and that’s when you get out.

Stick to your investing fundamentals:

—Don’t count on appreciation.

—Make sure the property can cash flow.

—Keep multiple exit strategies in case you need them.

—Maintain your financial reserves.

—Do not take out debt to buy down payments.

The market is on fire right now, and you should be taking advantage of it. But take advantage of it carefully and use discernment. Don’t overextend yourself or your resources and be a student of the market; you’ll see the slowdown coming.

What's Inside:

—Why you should NEVER borrow money to buy a pre-construction condo.

—Remember the investing fundamentals to avoid being burned when the market slows down.

—What should we watch for to avoid getting burned in a downturn?

Joe's Inner Circle Coaching Call - 06 May 2021 » Episode 1026 Jun 25, 2021

Show notes

Today I take some time to cover your real estate questions. I discuss lease option investments and investing remotely in other states or internationally. I also talk about possible reasons a buyer disappears on you, and what you can do about it.

Is it possible to invest across state lines or even internationally? It is absolutely possible. And it is also possible to invest in the US from other countries. The key to investing from afar is having a solid partner that is local to the area you would like to invest in. If you are investing in other places, first prescreen the leads and then have your partner on the ground go to the property, inspect it, and get it under contract. Then, when you turn around and sell it, you split the profit 50/50. How do you know the wholesaler isn’t going to go and do deals behind your back? Pick an investor/wholesaler that you trust and have vetted, and then pick the market. Also, have a shared CRM and be clear that you both have access to, and all the paperwork/info is to be done in the CRM. You are the one finding and prescreening the deals, so they aren’t going to double cross you. They will be thrilled to be handed these leads. You need to be talking to your partner every single day and checking in.

What should you do if a buyer goes dark? The truth is, if a buyer backs out, it may not be a good deal. Make sure when you get your property on the market, it’s for a good price. You might have five or six buyers interested, and that’s a great thing in case your original buyer backs out. A buyer might back out because they’ve taken a look at resale value, repairs, and rent and have decided they don’t want to take the property on.

If you are just starting out, start with my first course Simple Lease Options. I am in the process to consolidating all of my programs into one place. If you don’t have access yet, need to know where to start, or have any questions at all send an email to support@joemccall.com or text (636)249-1510 and be sure to provide the email you used to purchase the course. My team is great at answering your questions and getting you on the right track.

What's Inside:

—Are lease options good for lien sales?

—What can you do if a buyer backs out?

—What training is inside Freedom Soft and how do you find it?

—What is the difference between Freedom Soft Plus and Freedom Soft Max?

How Josiah Grimes Runs The Biggest Wholesaling Business In The USA » Episode 1025 Jun 23, 2021

Show notes

Would you like to make money from wholesaling but think there must be some complicated secret to doing it successfully? Josiah Grimes has built one of the biggest, if not the biggest, wholesaling companies in the US, and, in this episode, he explains that it’s not as complicated as people think.

Josiah has been an entrepreneur since he was in elementary school. His childhood business endeavors were not always popular with his school principal. When he was 17, he attended a pitchathon where entrepreneurs present their business idea to a group of investors and industry leaders during a live event in the shortest time possible. It was there that he first came across the concept of wholesaling.

Josiah learned the nuts and bolts of wholesaling by working for free for Cody Sperber. He learned about the industry, got some valuable experience, and subsequently moved into a paid role with Cody.

About four years ago, Josiah and his partners realized that it was a struggle to get past doing three deals a month. They started working on finding a solution and KeyGlee was born. Together, they developed a repeatable formula, working to their individual strengths, that has now grown into a franchise business. KeyGlee provides buyers for deals, with a focus on creating the most streamlined and friendly process for everyone involved.

If you want to be successful, you have to get your name out there. Google wholesalers in a certain area and make sure you get on everyone’s list. Make connections and build relationships. And remember, it takes time to build a business. A lot of people give up way too soon. You need to allow three to six months to build your networks and gain momentum.

Don’t get hung up on too many things. Start out with steps one and two and the rest will follow.

What's Inside:

—How Josiah got started in wholesaling.

—How to rank buyers.

—Why big hedge funds are not necessarily the ones you want to do business with.

—Why wholesaling is operationally easier than listing on the MLS.

—How a KeyGlee franchise works, from initial training through to developing the business.

The Advantages of Being an Investor / Agent with Gavin Timms & Frank Jr » Episode 1024 Jun 21, 2021

Show notes

There are people who are real estate agents and there are people who are investors, but you don’t often come across people who do both. Frank Jr realized that there are huge advantages to being able to offer sellers a range of solutions if you want to leave with a deal.

Sometimes, when you visit a house as an investor, you realize that it would be a great house to list. You’re thinking to yourself, he really shouldn’t discount this house, but you don’t want to walk away from a deal. You know the seller would get a better price if they listed it with a professional agent. Frank’s solution is to partner with an agent so that he can always offer the best solution for each individual seller. He gains credibility and builds rapport with the seller because he is able to do the best for them. And if he can’t help them, he’ll put them in contact with someone who can. His people-centred approach relaxes sellers and makes it much more likely that he’ll leave with a deal.

The personal touch is very important. Frank prefers to visit the house and meet the seller face-to-face. When he goes to the appointment, he always goes with a professional agent. The agents may know people that he doesn’t, and have their own network of investors, so they can make a sale quicker. He has five partner agents that he works with and makes sure that everyone gets a fair cut of the deal. If he buys the house, then the agent gets a percentage of that. If it's a listing, they'll list it and then Frank gets a referral fee for that. It’s a win-win arrangement that works for everyone.

Being natural is really important. Coming across as too salesy can kill a deal dead. Have a real conversation, get to know your seller, be human. People want to do business with people they like.

Never buy something that nobody else wants to buy. That’s a sign that it’s not a good deal. If you can’t wholesale it, don’t buy it. Everything you buy should have multiple exits. If there’s only one exit on a property, don’t buy it. Pick a price point that you’re comfortable with and stick with it. More expensive houses mean higher risk. When you have your model that works, stick with it.

The key to getting deals? Make offers. If you don’t make offers, you can’t win.

What's Inside:

—The advantages of being both an investor and an agent.

—Why it makes sense to partner with a professional agent.

—Why a people-centered approach works.

—How to spot a good deal.

197,679 Motivated Seller and Buyer Leads So Far in 2021. Where Are They Coming From? » Episode 1023 Jun 18, 2021

Show notes

Today we talk to Trevor Mauch, founder, and creator of the online real estate platform Carrot. Trevor brings the data and shows us a few different marketing strategies that really work.

What’s next when it comes to real estate marketing? Cold calling, flyers, text campaigns? There is a time and place for these forms of marketing, but many times, these marketing methods create inconsistent results at best. They may work for a short amount of time, but soon you’ll have to switch things up again. The inconsistency and unreliability of these methods is stressful. These methods are known as Hamster Wheel Marketing. This is a kind of marketing that keeps you running on a hamster wheel to stay successful. Continually cold calling, then sending texts, then running radio ads, you are just continually working. You may have a handful of short-term payoffs but won’t see as much success in the long run.

What you want to look at is organic search and SEO. If you really get in front of google searches, these methods are very effective and consistent and will work for you in the long term. If you put in the time and energy ahead of time, your investment will pay dividends. Trevor calls this kind of marketing Evergreen Marketing. Putting in the time and effort now can pay off for months or even years. You need to build momentum now, to pay off big in the long run.

So how can you implement Evergreen Marketing? Use your social media. Pick a niche and market within your niche. Create content that people find helpful and that directs them to your website and business. When people are searching for something specific within your niche, they are going to find you and reach out. Once people are interested, they will want to vet and verify you. They want to know who you are. Be sure to build testimonials, experiences, and before and after examples into your website so people get a good feel for what you can do. Putting in the effort now is sure to pay off for you in the long run.

What's Inside:

—The importance of Evergreen Marketing.

—What is the 2-6-1 method?

—What is a hybrid model?

Tired of Seeing Your Old Leads on Other Wholesalers Lists? » Steve Trang » Episode 1022 Jun 16, 2021

Show notes

Are you tired of seeing your old leads listed with another wholesaler? Do you often feel like your leads are slipping through your fingers? Are you tired of feeling optimistic about a potential client, only to find out they had no intention of listing their home with you? So many wholesalers agree, losing a lead that felt promising is crushing. You pour all your time and energy into a potential client and they drop off the face of the earth. Or worse, you see their home listed with another wholesaler two days after you meet. Ouch. Steve Trang can help.

In today’s episode, Steve Trang talks about his experience as a wholesaler, from just starting out in sales to really knocking them out of the park, as well as his proven systems and programs that can help YOU convert those leads into clients in The Disruptor Selling System.

When you are trying to get leads, effective marketing channels are so important. Steve discusses the most effective marketing channels, including an old-school one that might surprise you. The psychology of a sale is just as important as getting leads. It can really make or break your deal. It is very important to understand what is going on in a client’s world, as well as why you should give them permission to say “no.”

When meeting a potential client, Steve recommends NEVER leaving an offer on the table. Leave with a contract or a definite “no.” Knowing one way or the other is best for both the wholesaler and the client to avoid awkwardness and possible disappointment later. Listen and be assertive without being aggressive. Lastly, real estate is a game, and you have to play the game.

What's Inside:

—Importance of setting expectations and guidelines with a seller right out of the gate.

—How to seal the deal so your blood, sweat, and tears aren’t wasted with a potential client who decides to go with someone else.

—Steve’s process for bringing a nearly dead offer back to life.

REI Secrets #8 » How To Make Simple Cash Offers - 3 Easy Methods Jun 14, 2021

Show notes

It can be easy to get overwhelmed in the real estate industry. Today, I’m going to go back to the basics and show you three easy-to-use methods for making simple cash offers.

First is the MAO formula. MAO stands for Maximum Allowable Offer. I show you the formula to use, and how to adapt it to fit your specific area. Then I show a specific example of how to put this formula into action to calculate a cash offer for a house in Birmingham.

The second method is the Average of the Lowest Sold. In a lot of ways, this is an easier method than the MAO Formula. I go over the method in detail, and again show some specific examples.

Partnering with someone in the area is my preferred method for buying and selling properties. In fact, I have never done a deal where I haven’t partnered with somebody else. At the end of the day, I like working from home, and by partnering with local realtors and landlords, you get access to a “boots on the ground” person who can do the legwork of actually going to the properties and checking them out for you.

And that’s really the third method: making contact with local real estate people and partnering up. They’re going to know the area and the neighborhoods, and you can use their experience to make better deals. I call this “the Ask Formula” and I go over the process in-depth.

Freedomsoft makes all of these processes simple and easy, and I show you step-by-step how to use Freedomsoft to organize and track communication and handle e-signatures.

What's Inside:

—MAO Formula - Maximum Allowable Offer, and how to modify it to fit your area

—Average of the Lowest Sold method

—“The Ask Formula” - Make contact with local realtors, landlords, and resellers, and use their knowledge to profit

—A step-by-step guide to using Freedomsoft to make and track offers

I Just Paid Off a $520,000 Federal Tax Lien Part 2 » REI In Your Car » Episode 1021 Jun 11, 2021

Show notes

Here is part two of my experience owing and paying off a $520,000 federal tax lien. I’ll be honest. Sharing this with you all has been hard. It’s embarrassing, but I’m sharing it in hopes that some of you can learn from my mistakes. I felt alone when I was going through this struggle but I found out I really wasn’t; many people deal with this and have made the same mistakes that I did.

Hiring a bookkeeper was key to me paying off my tax lien. I’m just not good with keeping track of the numbers. She helped me implement a system where I was putting a large percentage of my profit to taxes, and that’s how I eventually got the lien paid off. Your bookkeeper also needs to be giving you weekly reports on the numbers that are going to be propelling your business forward. Whether it’s marketing, podcast subscribers, email opt-ins, whatever it is that moves your business, you need to have a report of that.

Lessons I’ve learned:

—Don’t mess with the IRS. Pay your taxes and pay them on time. The federal government is powerful.

—Read the book Profit First. Implement it.

—Hire a bookkeeper or accountant. It’s tough to do on your own.

—It’s not about how much you make; it’s about how much you keep.

—If you are in trouble right now, face it head-on. It’s not going away. Don’t be too proud to ask for help.

The bottom line is you have to pay attention and be smart about your taxes. Don’t make the same mistakes I did. Know your numbers or hire someone who can help you figure them out. Get help if you need it. These episodes have been vulnerable for me to share, and I just hope someone can benefit from them and avoid the mistakes I made.

What's Inside:

—Why I’m sharing my experience now.

—We started tithing, and it made a HUGE difference.

—Why you need to hire a bookkeeper.

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