Real Estate Investing Mastery Podcast

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Latest Episodes:

Using Lease Options To Scale Up - with Shiloh Lundahl » Episode 1016 May 24, 2021

Show notes

Shiloh Lundahl has a good portfolio mix of multifamilies, mobile home parks, and single families with lease options. As a child and family therapist, he’s only been serious about real estate investing since 2017, but he’s been able to scale up rapidly with some pretty incredible strategies. After his first few deals, his mentor warned him, “You’re going to run out of money, so you need to learn to use other people’s money”.

How many banks are too many banks to work with? That’s a legitimate question you should ask yourself. Every bank can have different lending requirements, so at a bare minimum, you should work with two banks at the same time. That way, if one of them rejects your loan, then you haven’t wasted several months of effort.

Right now, Shiloh has a pool of investors that he works with, and a system in place that lets him keep the money coming in. He purchases the home with a hard money lender and a private money lender. Then he takes the deal to a bank after they’ve been seasoned to refinance them. His investors are kept in the loop constantly by his WhatsApp messages, and his encouragement for them to network with each other has really strengthened how well they all work together.

You’ve heard about the BRRRR method; Buy, rehab, rent, refinance and repeat. But have you heard about the BRRRRLO method? It’s Shiloh’s special wholesaling spin that you are going to love. Because of the way he’s structured these deals, his lease option properties take a quarter of the time and effort it takes to manage a normal property. Sign up for Shiloh’s YouTube and make his day. He’s got creative content coming at you consistently, and cool projects in the works.

What's Inside:

—How Shiloh uses What’s App to talk about his deals with his investors.

—Shiloh takes the BRRRR method and adds something a little special to it that yields him significantly more money.

—We talk banks, funding, and the trouble with relying on one bank for all of your needs.

—What a Nuisance Clause is and why you are going to want one in all of your lease options from here on out.

REI Secrets #5 » Hot New (Old) Direct Mail Strategies May 21, 2021

Show notes

I’ve never had my business dependent on one kind of marketing. That means that if there’s a pivot in the market, I’m not freaking out. Are you freaking out about the changes in cold calling or text messaging rules? Direct mail is an oldie, but a goodie marketing technique that won’t run afoul of spam laws. However, direct mail is a game of momentum, and you need to start building it out well before you need to turn to it.

In this webinar, I’m going to show you strategies for making postcards the center of your marketing campaigns:

—You’ll see my favorite handwritten postcard (I love, love, love this postcard).

—Markets where the postcards still work.

—The biggest key for direct mail to succeed.

—Following up with 5-6 touches is still the magic sauce.

—My favorite direct mail automation tools.

I use direct mail and postcards for land flipping and wholesaling houses, but I can’t stress this enough. If you plan on using this kind of marketing, you can’t give it a half-hearted effort. Don’t call me complaining that it didn’t work after you put in the work for a one-off mailing. Commit to 3-6 months of marketing with consistency and following up.

Are you loving the REI Secrets webinars? I’d love for you to give me a review on ReviewJoe.net about my marketing strategies. I’ll send a free copy of my book REI Secrets.

What's Inside:

—Dig your well before you’re thirsty and start your marketing months before you need the money and the deals.

—Why you have to stop wasting your money on the glamour photo shots of a house that you just sold.

—Why I always insist that you have someone, whether it’s a VA or you, answer your toll-free numbers live.

—Three of my favorite postcard examples that you can totally steal.

How Zack Boothe Made Over $100k In 30 Days Driving For Dollars In A New Market - Part 2 » Episode 1015 May 19, 2021

Show notes

Zack Boothe, a wholesaler in Utah, has already talked to me about his 40-day challenge to open up a brand-new market in Tampa, Florida. In part 1 he covered the “why” and “how” that he was going to tackle his $40,000 in 40 days challenge, and in part 2, he’s going to cover the “what”. What scripts did he use, what real estate tools did he rely on, and what did he do to build out a team in a market far from home?

Zack went down to Florida in January 2020, and ended up meeting his goal in the 27 days that he ended up staying down there. He left early because of a family emergency, but this is the craziest part that I really want you to pay attention to: He is STILL reaping the fruits of his 27 days of labor. He has continued to close deals from all of that marketing work because he has continued to follow up on his leads.

Instead of $40k, Zack has already made over $100k with seven purchase contract deals, with one deal netting him a $53,000 assignment fee. In a little under a month, he added 5,000 new addresses to his database by driving-for-dollars in his new market. He shares why he loves Deal Machine and the tap-to-add feature, plus my listeners can receive a discount with the code: D4D.

If you’re working in the Tampa market too, Zack would be happy to tell you who he found for attorneys and title companies. Reach out and ask him for references because he’d love to share his resources with you. And check out his YouTube videos on this series for the raw and honest look into how much work went into his 40-day challenge.

What's Inside:

—The size of Zack’s team in Utah and Florida might surprise you, and should also inspire you.

—Even though Zack loves postcards, because of his time crunch, he turned to cold calling to quickly reach motivated sellers.

—Zack has learned that the less he says on the phone, the easier it is for him to connect with a seller.

Business Exploding Developing Partnerships With Gavin Timms & Ron Rowe » Episode 1014 May 17, 2021

Show notes

You don’t have to have the flashiest website to close deals, as Ron Rowe will reassure you. As an old-school texter, his buyers have learned to respond quickly to his texts because he’s built up a steady reputation as a deal bringer and closer in the mid-Missouri real estate market. Ron, a former attorney, has been wholesaling since 2014, but his recent success he lays at the feet of consistent marketing, networking, and following up. In short, everyone knows Ron, and everyone wants to do business with him.

You might see Ron on the dispo side, or maybe the marketing side. His strength lies in filling in the gaps in whatever partnerships he’s put together. No matter what your team looks like, complementary team members are going to carry the team farther than two team members trying to fill the same role. After all, one of you has to be on the phone.

This kind of success doesn’t happen overnight. When Ron came to us, he was struggling to focus on the parts of his business that would propel him forward. He’s learned that reaching out and partnering with other wholesalers is his secret sauce to the entire deal. If you’ve got a property for him, or you’d like to connect with him, you can email him at webuycomo@gmail.com.

Ron’s growth has been tremendous and I’m honored to be a part of it. If you’re ready for a coach to put you on the right path, let’s connect at CoachJoe.net.

What's Inside:

—Blowing hot and cold with your marketing and outreach will only hinder your investing business.

—A hot lead from last Monday isn’t going to still be hot when you call it the following Saturday.

—Ron’s approach is all about spreading out the work so that more people get a piece of the pie, and it makes him very, very popular with other investors who love sharing their deals.

REI Secrets #4 » How To Find Hot Motivated Seller Leads From Zillow May 14, 2021

Show notes

If you’re the bottleneck in your marketing, then you need to find some way to get your marketing done for you in spite of you. Otherwise, you can get trapped in a vicious cycle of having too many leads, and then slowing down, and suddenly having no leads. Then you’ve got to rush around trying to fill your lead pipeline all over again.

We aren’t just real estate investors, we’re real estate investors that do marketing. And not just mediocre or half-hearted marketing. No, we need to be great marketers. If marketing is something that’s new to you or something that you struggle to get off the ground, then you’ve landed in the right place. I’m going to show you:

—My favorite tools for scraping data and finding sellers

—My favorite tools for automating marketing

—How to know when it’s time to hire out marketing tasks

—Why you absolutely need to keep track of your wins

Working backward from where you want to be so you can leave behind your day job, we can figure out what your daily tasks should be. You can’t control whether or not you close 30 deals a month. You can, however, break down your daily activities that make your goals possible. If you’re looking for a partner or a coach to push you to the next level, let’s talk.

What's Inside:

—Why hiring a virtual assistant made it possible for me to finally quit my job.

—Once you’ve got the good lead flow going, then you don’t need to worry about getting leads anymore.

—It’s very rare to get a deal on that first postcard, and that’s why the money is in the follow-up.

—My favorite scorecard to push you to stay on top of your goals (and it’s not mine).

How To Close 50 Deals In 50 States - in 50 Days - with RJ Bates » Episode 1013 May 12, 2021

Show notes

I tell you all the time that your speed to income is directly proportional to the number of offers you make. And RJ Bates is absolute living proof of that. After making $750,000 in assignment fees in one year, he decided to challenge himself by closing 50 deals in 50 days in 50 states. And to up the ante, he did it in front of a live audience on YouTube.

Until 2017, BJ could find all of his deals on the MLS, and in fact, he’s never even done marketing. He didn’t even know it was a thing. But as his leads dried up, he knew he had to put together a marketing budget to find more sellers. Cold calling, texting, and Facebook ads started pulling in more sellers, and by then, he’d learned to narrow down his phone conversations to just 3 questions:

—Is the house tenant or owner-occupied?

—If it’s tenant-occupied, what’s the rent?

—Is the condition scary, ugly, good, or perfect?

Then he sends them a digital contract and asks them to sign it. He takes massive action, and he makes offer after offer.

Now, you might have this perception that some markets are crazy hard, like Anchorage, Alaska. But after pounding the phones for 50 straight days, RJ says that the market’s only hard if it’s oversaturated with wholesalers. For him, he noticed that anything west of Texas was extremely hard to find even a tiny marginal deal. Anchorage, Alaska, on the other hand, had so little wholesaler competition that it was easy to scoop up deals.

Checkout his YouTube channel for some of the craziest moments, like when the seller he was talking to Googled him and then hopped into his live video feed. If you’re ready to jump into wholesaling, check out my newest FREE calculator at PartnerWithJoe.net that’ll help you nail down a good price for a property, offer an easy contract to a seller, and lock up a deal in this hot market.

What's Inside:

—Why tired landlords are RJ’s sweet spot.

—The 3 questions RJ asks on the phone before sending over a digital contract to lock up the deal.

—RJ paid $60,000 to learn how to wholesale from a coach, but nothing taught him like picking up the phone and talking to sellers.

—Scaling up to do business in 50 states required RJ to tap into networks he didn’t have; he explains how you can do the same thing.

What Would Brent Daniels From TTP Do If He Lost It All And Had To Start Over From Scratch » Episode 1012 May 10, 2021

Show notes

“Dumb wholesalers make the most money”, insists Brent Daniels from TTP. You don’t have to know everything or how to respond to every situation. You just need to be in a position to have a quality conversation with a distressed homeowner. Even before he knew what wholesaling was, Brent Daniels was wholesaling. He just called it “finding the ugliest house”, and it’s shaped the cornerstone of his wholesaling business for over a decade.

If you were to drop Brent in the Middle-of-Nowhere, North Dakota, Brent’s priorities would be this:

—Find an ugly house

—Get their phone number

—Talk to them

—Follow up on them

It is just that easy to find a home to wholesale. But we get it. It can be scary to pick up the phone and start cold calling strangers. Ask yourself: What are you trying to accomplish? What are you trying to do? You need to go out there and help people sell their homes and relieve them of their financial burden. The second you change your perspective and go out there with a servant’s heart, you’ll be able to get over your fear about picking up the phone and calling strangers.

My newest calculator doesn’t just calculate costs for you. The Automated Offer Pro-Lite Calculator also gives you cover letters, contracts, charts, and it lets you compare yourself to other investors and even Realtors. I’m not just going to drop this in your email inbox. I’m also going to send you a 15-minute training video that’s going to set you up for success.

What's Inside:

—Having a conversation with a distressed seller is not hard if you have your heart in the right place before you pick up the phone.

—Hands down, Brent’s favorite software and gadgets for driving for dollars.

—Brent’s predictions for where texting, Robo-calls, and other mass marketing tools are headed.

—The four pieces of information that you’re looking for in every single conversation with a distressed seller.

REI Secrets #3 » What Is The Double Dip Lease Option Strategy & The 6 Fastest Ways To Find The Best Buyers May 07, 2021

Show notes

In any market condition, whether it’s hot, flat, or cold, it is always easy to find a buyer. No matter what anyone says, you can always find a buyer. I’m going to show you how to find an investor buyer to implement what I call the Double Dip Lease Option Strategy. Plus, I’m going to walk you through finding buyers in virtual markets using my favorite tools.

What does it look like if you’re wholesaling the deals to an investor instead of a tenant-buyer? I'll step you through the sandwich lease option scenario that you normally see, and then show you how the Double Dip Strategy builds on that. You know it goes from A to B, and then from B to C. But I add C to D, where I can net 36% if I assign the lease to an investor and step out of the deal.

How do you find investors that might be interested in buying a sandwich lease option from you? I’m so glad you asked that. I am going to show you how to use Zillow to find investors that want to buy a sandwich lease option from you. The 6 strategies look something like this:

—The flap-your-lips strategy.

—Call landlords from Zillow

—Call Realtors for the active listings

—Propstream Joe for flippers

—Yellow letter to recent cash buyers

—SMS texting

I am switching over to Freedomsoft Joe, so I want you to be prepared for that move. It comes with a mobile app that my old REI Simple just didn’t provide, but it’s still going to have all of the information you need, including my courses, worksheets, and calculators. My favorite tools make your wholesaling life so much easier, so check them out!

What's Inside:

—How to remove yourself from a sandwich lease option with a 36% cash-on-cash return.

—My advice on how you can find an investor interested in these kinds of deals?

—What I call the flap-your-lips strategy is real. It’s not fancy, but it’s real.

—How you can find Realtors selling in your preferred zip code and connect with them.

Creative Financing Lab Series Ep 4 » All Of Our Favorite Creative Financing Resources May 05, 2021

Show notes

Can you do creative financing deals with Realtors? I mean, sure. You can do anything if the agent will agree to it. But it can definitely be more complicated. Do banks really allow subject-to deals? Join Pace Morby, Matt Theriault and me LIVE every Wednesday at 8 a.m. PST and 11 a.m. EST as we talk high-level creative financing strategies. We’re going to answer all of your questions about how to get more creative with your deal strategies.

In this episode, we’re covering topics ranging from “How is a novation agreement different from an assignment?” to “How Matt has gamified real estate.” We’ll provide links and resources in the videos and notes so that you can use the same companies, scorecards, and programs that we do.

You’re doing yourself a big disservice if you’re looking for one kind of deal with one kind of exit strategy. You need to see yourself as a deal finder, no matter what asset class you’re in. We talk about my current favorite strategy of land-flipping, and Matt’s love for buy-and-hold forever. You’ll even see us partner with commenters throughout the show. If you’re looking for a better investor network, check out the comment section on our LIVES.

We’ll even touch a little on inflation, the future of the 1031-exchange, and why Dodd-Frank isn’t as scary as people make it out to be. We’ll see you next week at the same time and place. You don’t want to miss it!

What's Inside:

—How Matt and I like to lean into motivated sellers to see where they’re at, how close they are to selling, and if anything has changed that moves the needle on their motivation.

—You don’t want to identify yourself as the exit strategy because you really need to see yourself as a deal finder.

—Concerned about the Dodd-Frank Act? Why you don’t really need to be.

—How do you know when it’s time to quit your day job?

Pop Up Coaching Call with Gavin Timms & Eddie Palacios » Episode 1011 May 03, 2021

Show notes

As he transitions from acquisitions manager to real estate investor, Eddie keeps running into snags that he’s not sure how to fix. He’s done a great job figuring out a system that works for him and his VAs, and he’s created a marketing funnel that moves his records into warm leads. One of Gavin’s superpowers is creating real estate systems that give you leads with more automation. In this pop-up coaching call, Gavin identifies a few key areas that Eddie needs to work out.

Eddie’s experience as an acquisitions manager helped him figure out quickly that using a real estate script to talk on the phone was absolutely killing his sales call. Once he converted to a casual conversation that let the seller carry 80% of the conversation, he started closing more sales. So take a second and pause: How much do you let the seller talk in the phone call?

For most of his coaching clients, Gavin recommends that they get a giant whiteboard to keep track of their warm leads. That pulls the leads out of the CRM and into your constant line of sight so that you don’t forget the deals you’re working on or where they’re at in the process.

If listening to Gavin smooth out Eddie’s real estate system reminds you that you’ve got a bottleneck that you don’t know how to fix, give us a call. We’d love to see if we’d be a good fit.

What's Inside:

—Eddie’s created a great system on his own, but there seems to be a bottleneck where his marketing isn’t generating the kind of leads he should expect.

—Automating colder leads can move some of those kinds of leads off of your plate, and leave you room for the warm and hot leads.

—Figuring out where to store leads and where to store records might be confusing if you’ve created a CRM that doesn’t differentiate these things.

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