Real Estate Investing Mastery Podcast

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Latest Episodes:

REI Secrets #2 » Marketing To Motivated Sellers With Freedomsoft Apr 30, 2021

Show notes

If using the same lists as every other wholesaler to find the same exact sellers in the same hot markets is your favorite thing to do, then you might want to ignore this podcast. But if you’re ready to find motivated sellers hiding in plain sight that everyone else is overlooking, then pull up a chair and lean in close, my friend. I’m sharing my REI marketing secrets with you in this episode.

Do you know how to find distressed sellers or absentee owners before anyone knows they’re in trouble? I’ll walk you through my process, including places you might not have thought of, including how I find:

—Local evictions

—Rentals on Zillow

—Distressed sellers, or my “sewer company” trick

—Vacant homes

Using Freedomsoft as my CRM and Propstream as my data provider, I’ll walk you through a campaign from beginning to end. Absentee owners are getting absolutely inundated with calls, texts, and mailers, so you need to put in the work to find sellers before they land on these lists.

If you want my calculator and free resources, you can get all of that on PartnerWithJoe.net. Now get out there, make offers, follow up, and close more deals.

What's Inside:

—My trick for getting a 10-20% response rate for direct mailers.

—My step-by-step guide for creating a campaign in Freedomsoft, plus all of my favorite tools for making your marketing automated.

—The best tools for texting sellers so that your texts aren’t marked as spam.

Creative Financing Lab Series Ep 3 » Why You Should NEVER Do Deals In Your Own Name Apr 28, 2021

Show notes

I leaned in hard to creative financing when I saw how many leads I was throwing away. That’s the beauty of this strategy; You make more deals possible when you offer sellers speed and convenience to get out of their house quickly. 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’ll take your questions, and you’ll get a chance to network with other real estate investors right in the comments.

Whenever you talk about creative financing options, you’re going to hear people object to it. “It’s illegal, immoral, and fattening”, insist the lawyers and real estate agents. They’re wrong. Real estate agents aren’t taught how to comp things in school, and they don’t understand creative financing.

Those that say it can’t be done should get out of the way of the people doing it, says Matt Theriault. Both Matt and Pace share some of their favorite strategies for finding creative financing deals, and it might surprise you that they don’t agree. That’s part of the magic; there’s a little something for everyone.

When you’re starting a business, you’re concerned about finding buyers and sellers. But once you’ve started building and adding management, you become a lot more concerned about your massive tax bill. Doing deals in your own name puts a huge target on your back. Can you imagine if your tenants knew that you were a big YouTube star? Pace names some of his favorite resources to protect his assets, so be sure and check them out.

What's Inside:

—Do you need a bigger buyers list? Or just a bigger sucker than you?

—Set your company up right from the beginning and save yourself millions down the road.

—Pace’s biggest regret in his lease option formula.

—How do I get my tax burden to zero? Tax depreciation is the magic sauce that every real estate investor needs to know about.

Working with Agents that Want an Investment Path to Financial Freedom - Jim Manning » Episode 1010 Apr 26, 2021

Show notes

Sometimes agents are chasing their next listing and they’re not building long-term investments for themselves. Jim Manning from the Doors to Deals podcast is an investor agent here in St. Louis drops in to talk to me about how Realtors can become better investors. To get a glimpse of the scope and capacity of his business Three Doors, Jim and his partner did 565 deals in 2019. They walk the walk as Realtor investors, and they generously tell you how you can become one too.

Before you start off as an investor agent, what skills do you need to develop? Jim is familiar with that little negative voice on your shoulder that tells you that you don’t know enough, don’t have the right connections, or aren’t ready for this new venture. It took him 18 months to buy his first deal, so he knows that that voice can drown out your dreams of financial freedom. That’s why he advises investor agents to create a community of like-minded individuals to propel their success forward.

Jim’s not going to ignore current Realtor challenges. It’s a challenging market out there, and the #1 complaint from his Realtors is how difficult it is to find a deal. He starts them backward on a marketing plan that is so similar to the one my own coaching students use.

—How many leads did you generate?

—How many appointments did you get?

—How many offers did you make?

—How many deals did you get under contract?

Don’t miss out on my newest class Partner with Joe! In this 30 day class, I’ll walk you through how to get your first deal and it’s done in the simplest, easiest, and fastest way possible. Plus, for only $7, you can partner with me on deals. Check out the super simple calculator that will help you analyze properties, and let’s connect.

What's Inside:

—The power of follow-up (and you didn’t just hear it from me!).

—New Realtors have to be hungry for growth to find motivated sellers.

—It’s a hot and very competitive market, so how can a new Realtor find opportunities?

—Why Jim says his #1 mistake was believing that he had to know everything before he started investing, and how you can avoid that same mistake.

REI Secrets #1 » Making Multiple Offers With Automated Offer Pro Apr 23, 2021

Show notes

In my newest webinar REI Secrets, I’m going to teach you new cool hacks and tricks for real estate marketing and systems. I’m going to show you what I’ve learned, including some of my favorite automation tricks that will make it easier for you to get more leads, close more deals, and make more money.

Inside this webinar, I’m going to show you:

—My new calculator Automated Investing Secrets

—How to come up with cash offers, owner finance offers, and lease option offers

—How I create my own lists with Redfin and Zillow

—My automated email and mail campaigns

—Tips for creating a bitly that goes directly to a contract

—The exact script I use in my direct mail campaign

I’m going to help you make scaling up easy when you embrace automation. And I’m always going to keep you in the loop on the newest and greatest real estate software. Check back weekly for more webinars on marketing, automation, and delegation.

If you’ve purchased any of my courses before, we’re moving it all to Kajabi. Please contact support@JoeMcCall.com if you’re having trouble accessing any of my courses that you’ve purchased.

What's Inside:

—My super easy formula for figuring out the ARV on a home sight unseen.

—Using public data, I’ll show you how to find homeowners with positive equity, even homeowners with no mortgage, that you can then make cash offers to.

—Learn how to text a contract to homeowners that could increase your response rate.

Creative Financing Lab Series Ep 2 » Use Creative Financing to Buy YOUR Dream Home Apr 21, 2021

Show notes

Every Wednesday at 8 a.m. PST and 11 a.m. EST, Pace Morby, Matt Theriault, and I are going LIVE to answer your questions about creative financing. Bring your questions, get ready for some enlightenment, and join in to connect with other real estate investors who are looking to expand their network.

A lot of you listening to this are entrepreneurs or self-employed, and we know, because we’re just like you, that it’s hard for you to get a traditional loan from a bank! I’ve used creative financing deals twice to get an amazing mega-mansion in St. Louis because I had some foreclosures in my past. Creative financing lets you sidestep some of the problems business owners run into with bank loans, so buckle up and see how easy it can be. Even Pace has gotten in on the action with a massive mansion in Phoenix that he bought on seller financing.

If you’re asking yourself what kind of lists we’re using for creative financing, the answer is easy. None. That’s the beauty of financing. We’re advertising to the same sellers that wholesalers are, but we’re closing 2-3x more deals because creative financing just opens up massive options.

The foundation of every deal lies with the seller’s motivation, says Matt. That’s why he’s scouting for motivation. Here some of Pace’s smooth-talking for how he gets a seller to open up about their motivation and learn how to present your price in a creative way. Pace says he’s not looking for ARM mortgages or a balloon on the property, but a crazy good interest rate will definitely sweeten the pot. After all, he’s not buying for appreciation, he’s buying for cash flow.

What's Inside:

—Do you want some magic words from the sellers? How Pace gets the seller to talk about their circumstances.

—Pace says he will buy negative equity deals. What?! Hear why inside.

—The seller speaks price, so when you come into a conversation throwing around wholesaler lingo, they are not going to understand you.

How to Flip Houses in High End Areas with Gavin Timms » Episode 1009 Apr 19, 2021

Show notes

If you’ve missed Gavin’s virtual flip in Maui, make sure you check it out on his website. He loved it so much that he’s decided to repeat the process in the South Arcadia area of Phoenix. For real estate flippers who are interested in the challenge of a bigger project, or who just want that bigger payoff, Gavin has some tips for how you can get a property up to the high-end price tag.

The high-end seller isn’t going to be a normal burnt out landlord or desperate property owner. You’ll need to go in prepared to show proof of funds, your past portfolio, and your website. They’ll want proof that you can handle a property of their caliber. But go in savvy, warns Gavin, because the money is made when you purchase the property. If you can’t negotiate a good price from the seller, then no amount of remodeling is going to make this property worth your time and money.

In Phoenix, because the neighborhood matters, sometimes it makes more sense to buy a property and tear it completely down. But for a place like Maui, it made more sense to remodel the existing structure. This is going to depend on your market, so Gavin walks through some scenarios that you need to consider as you go looking for high-end properties to purchase.

And of course, none of this remodeling can be done without a team. You’re going to need a team that can handle high-end properties, including lenders that work in this space, contractors who are familiar with the finishes on these types of homes, and Realtors who can find buyers that can handle the price tag. Expanding your network is going to be vital as you take on this new challenge.

What's Inside:

—Creative financing just won’t look the same when you’re dealing with 7-figure properties, so Gavin talks about why you’ll want to double close.

—Gavin’s tips for expanding your network to find upscale contractors for these larger and more expensive properties.

—Sometimes purchasing a property and tearing it down to rebuild from the ground up is the best approach for high-end properties, and sometimes it’s not.

Your Network Is Your Net Worth with Gavin Timms » Episode 1008 Apr 16, 2021

Show notes

As in-person events are gradually coming back, now is the time to decide what kind of events you’re going to attend to get your name out there. Navigating the blend of virtual and in-person networking can help you strengthen your business connections, and Gavin Timms is going to share how you can kick your excuses to the curb and improve your net worth.

Every time you go to a REIA meeting, are you more likely to talk to familiar faces? Stop that! Every in-person meeting is prime networking time, and Gavin recommends that you chase down the oldest member of the group to chat them up. And by oldest member, he doesn’t mean age-wise. The oldest group member who’s been there the longest is more likely to know everyone. They’ll be a great resource to plug into a wider network.

Virtual meetups or virtual networking are not going away any time soon. So whether you find yourself in a Facebook group or a real estate forum, you can use that opportunity to provide value and answer questions. Then you can move that relationship offline in a casual way.

Don’t get complacent and talk to the same people over and over again. If your business is feeling stale, Gavin is throwing down a networking challenge. Pick up the phone and call three new people a day. That can mean bankers, brokers, Realtors, cash buyers, or just other wholesalers, but get out there and get to know some fresh faces!

What's Inside:

—When you collaborate with other investors, you don’t need to be the best at everything.

—Gavin’s techniques for connecting or collaborating on Facebook groups and expanding your network virtually and with just a little bit of effort.

—Take Gavin’s networking challenge that will quickly expand your ability to reach out and tap into experts, investors, brokers, or Realtors across the country.

Zack’s $40,000 in 40 Days Challenge - Amazing Results » Episode 1007 Apr 14, 2021

Show notes

With a hunger to give back and inspire his students, Zack Boothe from DFD Mastery flew down to Florida from Utah to show that you can support your family with only $1,000 in seed money. The pressure was on as a cameraman followed him around recording his attempts to open a new market away from his family, his friends, and his network.

There’s no trick or hack to Zack’s success. It’s just a non-sexy driving for dollars campaign, cold calling, and hustling. One of Zack’s favorite tools is the Deal Machine app, so he shares how he pairs it with targeted driving in blue-collar neighborhoods. You don’t even have to get out of your car to capture the data from Deal Machine and create a spreadsheet full of potentially distressed or vacant properties.

Driving around neighborhoods, Zack was able to find between 60-70 houses an hour. Combined with his killer cold calling skills, he was able to start closing deals, and at his last count, he’s made $40,000 and counting. In a new market. With only $1,000. That’s some serious hustling.

Right now Zack is running an experiment on segmenting his lists. From his experience with driving for dollars, he realized that vacant homes have the most motivated sellers, followed by absentee owners, then owner-occupied homes, and finally corporate owned. Check out his YouTube channel DFD Mastery for the results on how successful list segmentation is.

If you don’t have a massive belief, you won’t take massive action and have massive results. Instead, your half-hearted effort is going to give you half-hearted results. Get inspired by Zack’s success story with good old-fashioned wholesaling.

What's Inside:

—After the state made his code violations and evictions list available for everyone, Zack had to get serious about finding a better source for lists, and that’s when he found driving for dollars.

—Is the virtual driving for dollars app worth it? As a DFD expert, Zack gives his honest opinion.

—From window washer to giving away a million dollars in 2019, if Zack’s origin story in real estate doesn’t inspire you, then you’re not paying attention.

Creative Financing Lab Series Ep 1 » The Future Of Creative Financing - Brought to you by Real Estate Investing Mastery Apr 13, 2021

Show notes

You’re going to recognize the Creative Financing Giants I have with me on this new series that we’re calling Creative Financing Lab. Pace Morby and Matt Theriault are amazing at what they do, and we’re thrilled to bring you our best ideas about all things creative financing, including subject-to financing, lease options, and owner financing.

If you’re watching a recording of this series, great! But if you’re watching this live, that could be your chance to meet and partner with other investors. The Facebook and YouTube comment sections of our live podcasts are going to be a networking goldmine to find investors across the country. So put this on your calendar and make our live broadcasts a priority!

In our first episode, we talk about the potential death of subject-to. Banks always have the option to call due a loan, but they only seem to exercise that right when a red flag goes up on a loan. Crazy low interest loans right now may mean that in a few years when interest rates rise that banks are going to pay more attention to getting cut out of those rising interest rates. Matt gives us a little background on the history of subject-to loans, and Pace, who has over 100 subject-to properties, talks strategies.

Stay tuned for more high-level discussions about wholesaling lease options, assignment lease options, and all of the other creative financing options that are out there. Get ready to take notes, network with others, and learn new real estate financing strategies.

What's Inside:

—The insurance issue that’s going to force the bank to get involved in your subject-to.

—The historically low interest rate on homes could have a negative effect on subject-to properties going forward.

—How Pace has worked around insurance problems with banks and subject-to properties.

—Are small margins worth it on subject-to loans? Maybe, says Pace.

—If you buy on a lease option instead of a subject-to, you don’t have the option to use depreciation.

The Power Of Massive Follow Up - REVIVE Your Old Leads » Episode 1006 Apr 12, 2021

Show notes

When it comes to leads, how old is too old? Would you believe it that Chris Craddock from REI Revive resurrected five-year-old leads?! It’s true. And he believes that real estate investors have hundreds of thousands of dollars sitting in their CRMs. With a little effort, they can unlock the potential of their dead leads too.

As a kid, the magic word “please” might’ve gotten you pretty far with your mom. For sellers, the magic phrase is “Are you still looking to sell if you got the right price for your property?”. This is the chance for sellers to dream up a number that would motivate them to pack up the old homestead, and it works like magic for Chris and his team.

Chris teaches his students the five reasons why someone wants to sell with an investor. Your job as an investor is to uncover the reason why a seller is motivated to sell with you, and give them a chance to tell you why they want to work with you. Inside every potential seller’s head is some variation on one of these five sentences:

—I don’t want to pay a commission.

—I need to sell fast.

—I’m a secret hoarder.

—I don’t want people running through my house.

—I’m in a distressed situation.

Now, you’re going to come across a lot of sellers who still want to sell with an agent. When you hand off leads that are going to sell for 95 cents on the dollar, how can you still make some money on this lead you chased down? Chris finds agents to partner with, but not just any agent. Some investors might choose an agent whose only qualification is that they breathe. Don’t do that, warns Chris. You want an agent partner that’s happy, hungry, humble, and smart.

Chris brought so much value today for how you can dig into any old CRM and make some money. If you have questions, DM him on Instagram, or check out his course REI Revive for more real estate strategies.

What's Inside:

—How to improve your cold calling chances with what Chris calls “double-tap text”.

—How do you find old leads if you don’t have any of your own?

—What you want to look for when you’re searching for the perfect agent partner.

—Chris’s magic script for old leads can bring you deals from leads as old as five years!