Real Estate Investing Mastery Podcast

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Latest Episodes:

873 » How to Do More Deals in the Economic Downturn: Finding the Active Buyers (Flip Mindmap Part 3) May 15, 2020

Show notes

Qualified, active buyers are going to become your new best friend, so I want to talk about strategies for finding your new BFFs. In-person networking, buyers’ lists, websites, and Realtors are all going to help you in this transition. You need to dig your well before you’re thirsty. If you’re already thirsty and you need the cash, it’s a lot harder to make that fast money. Don’t wait too long to build your relationship with buyers. I share my current favorite way to find buyers right now, including the strategies I use to contact them in a kind, yet persistent, way. As you’re building your buyers’ list, don’t be afraid to use your own cell phone. Don’t be that hard-to-get guy that never returns phone calls. I can’t tell you how many times we’ve had buyers tell us that we are the only people that answer our phones. Be a real person on the other line and edge out your competition. I’m going to hold nothing back in here. I provide you with all of the websites I used to find buyers, all of the places you can go to buy bandit signs, all of the networking opportunities you shouldn’t miss, and so much more. Your marketing strategies will change with the market shift, but that’s great news for you! Investors who aren’t ready to shift will lose out when they find that their same old tactics don’t work anymore. I’m still actively looking for deals, but I only purchase with my students. If you’d love to work with me, contact me to see if we’d be a good fit. And don’t forget about my FREE mind map! What’s Inside: —It’s much easier to shop for what buyers want than to sell them what you have. —If you need proof of funds, you can always use your buyer’s proof of funds. —Why packaging deals for your buyers will help you attract buyers. —My current favorite way to find buyers right now. —The questions you need to ask buyers to find out their criteria.

872 » How to Do More Deals in the Economic Downturn: Make Multiple Offers (Flip Mindmap Part 2) May 13, 2020

Show notes

There are three things to be focused on in this market, and your ability to succeed through this market shift will rely on how well you can do these three things. I describe the huge variety of creative financial deals you can offer when you would choose to offer them, and I give you examples in real-time on how to figure out the offer. You need to learn how to make multiple offers. No more one-trick cash-only offers because they’re not going to work anymore. When you find buyers, you’ll need to offer solutions and creative financing for them. If you become that go-to creative financing guy, you can make nearly any deal work, as long as the seller realizes they’ll have to choose between terms and price. Financing is going to be getting harder and harder as money dries up, so when I say creative financing, I mean: —Owner financing —Seller financing —Seller carry back —Rent-to-own —Lease purchase When you make an offer on a nicer property, I recommend a different strategy based on the MAO formula. MAO stands for the maximum allowable offer, and this formula has been around for a long time because it works. I walk you through how to figure out to offer for a nicer home. In my FREE mind map, I offer calculators so that you can calculate a price that still nets you enough income to make the deal worth your while. Now, after you text “FLIP” to 313131, you won’t be able to make edits on this copy. So what you need to do is go to file, make a copy, and download this mind map so that you can make edits on your copy for your business. What’s Inside: —The more options you can give a seller, the more deals you’re going to make. —In this market, you need to be thinking about making a “quick nickel rather than a slow dime”. —The three options I like to give sellers. —Why I like Redfin data over Zillow, and how I use it in my calculations —Step-by-step instructions on how I figure out an offer.

Announcing – Live Marketing Masterclass May 12, 2020

Show notes

Hey guys! If you’ve ever wanted to “watch Joe LIVE” doing marketing… then you’re in for a treat. This Friday, May 15th, I am doing a Live Marketing Masterclass. This will be live, and I am going to pick a city and, from scratch, do some seller & buyer marketing. We’ll be doing live calls, and showing you how you can do marketing, even during this pandemic. learn more at: livemarketingclass.com

871 » How to Do More Deals in the Economic Downturn: The BIG PICTURE — Part 1 May 11, 2020

Show notes

Wealth doesn’t disappear; it transfers. As the market changes, I want you to be prepared for where the wealth moves to. I’ve got some encouraging words for you today, but more importantly, I’ve got tons of ideas of how you can position yourself to be a part of these new opportunities. There are two very important rules you need to understand as we move into the opportunity phase of this crisis. One, time is your friend. And two, emotion is your enemy. Your mind will only find whatever you focus on, so focusing on fear won’t help you see the opportunity. Emotional reactive decisions will kill your business, so you need to come up with a plan based on data and not drama. A lot of your competitors have pulled back on their marketing. I’m seeing a 30-40% reduction in ads on Facebook. People are scared and they’re reacting to their emotions. But not you. You’re going to: —Detach yourself from your own bias. —Invest and don’t save at this very moment. —Grow your income as you work on your personal development. Instead of focusing on the negative parts of your life and asking why bad things are happening to you, focus on gratitude. Turning to gratitude will help you be able to see the opportunities that exist. We need leaders more than ever, so are you ready to step up and lead? I give away a ton of free content, and today is no exception. If you’d like a copy of this mind map for free, text the word “Flip” to 313131. What’s Inside: —Every crisis comes with an equal amount of opportunity. —Fear drives short term decisions, and these decisions cause long-term problems. —How can you serve your customers better in this crisis? —As entrepreneurs, we are problem solvers, and there are new and exciting problems to solve every day. —Where I see the opportunities coming in the real estate market.

870 » Doubling Down on Marketing and Doing Deals During COVID-19 May 08, 2020

Show notes

If there’s one lesson former teachers Marlena and Josh Dates have learned about real estate investing, it’s “Never pause your marketing!”. From Florida, Marlena and Josh have an eye on how Airbnbs are impacting the market, the best marketing for your dollars, and where the market is going because of COVID-19. Even if they have to borrow money from their parents, Josh and Marlena say they will always use direct mail marketing because it always gives back way more money than they put into it. Marlena says that you know what to expect from direct mail because you know the numbers, and it’s a consistent, reliable form of marketing. The only drawback to direct mail marketing is when sellers get 15 different postcards. That’s the time when Marlena and Josh double down on building a relationship with the seller. Because they know, as I do, that relationships are an important part of real estate strategy. What are hard money lenders doing? And are there still buyers and sellers in this market? As active real estate investors, Josh and Marlena have their finger on the pulse of Orange county and its surrounding areas. They share why sometimes lease options don’t work for them, and in what kind of circumstances they lean on creative financing deals. The good thing about real estate is it doesn’t drop overnight, so no matter what you see on the news, you’ll be able to see well in advance if prices are going to stall. This advanced warning gives you time to adjust your offers and your marketing to keep doing deals. What’s Inside: —Josh and Marlena moved from teacher into real estate full-time. —Virtual wholesaling allowed them to travel around Europe and still close real estate deals from their phones and laptops. —Follow up with old leads because fortune is in the follow-up. —How Josh and Marlena figure out an offer using Podio.

869 » Free “Ask Us Anything” Coaching Call & “Hot Seat” with Joe McCall & Gavin Timms May 06, 2020

Show notes

I love opening up the conversation to include our listeners because they always have such great stories and questions. You guys really make my job easy, so thank you for showing up with your concerns and comments. We talk about how to have natural, easy conversations with sellers, what to do if your deals keep falling through, and how creative financing will help you as this market shifts. Do you want to know how to make even more money on every deal you’re making? The real secret is packaging deals together. This looks like putting together financing, contractors, property management companies, Realtors, and insurance companies all wrapped up in a tidy bow. Watch and see if you don’t go from making $5,000 a deal to $10-15,000 every time. If you find a seller, and you can’t come to terms on a price, that is the perfect time to offer an assignment lease option. Gavin’s role plays with a student for how that conversation might sound, and gives tips on the best way to phrase this offer. I love doing these role plays with our students because it really gives everyone a chance to see common problems laid out. Closing on a deal isn’t the final word on the deal. Communication throughout the entire process is part of the trust that you have to maintain with a seller so that there are no surprises for either of you. I know without a shadow of a doubt that no matter what happens in this market if you can sell deals with creative financing, you’re going to do really well. And if you’re interested in coaching, contact us to see if we’d be a good fit. We’d love to help you take your real estate business to the next level. What’s Inside: —I explain the double-dip strategy that yields big returns. —If you can sell packaged deals with financing in place, you’re going to crush it. —How to find buyers that will want to buy your packaged deals? —Gavin role-plays with a couple of callers to help them work through some current problems they’re facing. —A caller wants to know if you can raise private money for lease-option deals.

868 » Top 3 Things Investors Should Be Focusing On Right Now With Mike Hambright May 04, 2020

Show notes

Yes, the market’s a little uncertain now, but there’s still death, divorce, and inheritance problems. There are still tired landlords and people still need a place to live. And all of these situations create opportunities for us. You’re just going to have to take this uncertainty and pause, plan, and pivot to take advantage of the changing landscape. As entrepreneurs, you should be used to changing your focus when you find that what you’re doing isn’t earning you enough money anymore. Mike shares about his shift into more quality work as things slow down in the DFW area. He reminds you to remember why you got into this in the first place. A slowdown is a great time to reflect what you should be doing differently. Take this time to improve your systems and processes. That’s how you do what you do. Some of us say we’re business owners, but what we really are is self-employed. Get out of your own way by creating systems and processes that help you operate your business. Mike uses Asana to track his team’s work. We talk about the difference between systems and procedures, and why they’ll free up your time. We talk about the different options we’ve used, and I share my trick for creating standard operating procedures that remove a ton of work off of my plate. Hint: I’ve even outsourced that too. Both Mike and I agree that small-time operators are going to stop dabbling in paid advertising. Do you want to move into the big-time? Do you want leads? Then you’re going to have to spend some money to capture the leads those operators are leaving behind as they stop advertising. What’s Inside: —When there’s fear or uncertainty in a market, banks will naturally start pulling back. —How can you bulletproof your business for the next downturn? —Quality and price are your two main levers, and Mike gives advice on which to pull in this market. —There are too many unknowns right now to hang onto houses for that long. —Do not stop focusing on lead generation. Seriously, don’t. —Scale your business so that you stop being the bottleneck in it.

867 » Beautiful Real Estate Investing Websites May 01, 2020

Show notes

One of the biggest reasons for having a website is to build trust with your audience. A nice website can communicate really quickly what your brand is and who you are. A janky website, on the other hand, sends the message that you don’t really know what you’re doing. If you don’t have a beautiful website right now, don’t worry. I talk with REI Conversion founder Jessey Kwong about how he builds solid websites for the REI world. If a seller or buyer lands on your site, how likely are they to convert? A huge, bright orange call to action button leaves no doubt what you want a visitor to do. Jessey warns that you should put your forms on your front page and stop hiding them on another page, or you can expect your conversions to plummet. A website doesn’t have to be flashy to be effective. Whether or not you’re optimized for SEO seems to be a hot topic, but what does that even mean? Jessey talks about the different parts about SEO. He builds his websites to be fast and secure, which is half of the SEO game. The other half is content, and that’s going to be up to you. I personally prefer running ads to my website as a better marketing strategy, but there are pros and cons to both of these methods. Where is your time better spent? Building websites and writing code? Or making offers and talking to sellers? Focus on the $500/hour activities, and delegate the rest of the work to a company like REI Conversion. For my listeners, Jessey is offering a 10% discount; just click on the link in the show notes. What’s Inside: —One of the biggest problems Jessey sees with websites. —Why you should stop using your slogan as your headline. —Automating your offers can help you find properties while you sleep, literally. —What problem are you solving for your website visitors? —Start asking, “Who can do the $5/hr. jobs for me?”.

866 » How To Do More Deals By Positioning The Lease Option Correctly Apr 29, 2020

Show notes

One of the mistakes that people make is that they try to sell the lease option concept, but they lose every single time. Instead, you should start thinking about how it’s all about positioning. In this coaching call, Gavin walks some of our students through the wall they keep running into as they talk to sellers. Positioning yourself as an investor when you talk to sellers should be the basis of all of your conversations. You are investors, even if you plan on using a lease option. Explaining to a seller what a lease option is right away can be overwhelming, especially if they’ve never worked with an investor before. As Gavin walks our students through what they’re doing, you can see this really cool “Aha!” moment when they realize that they’re assuming what the seller wants. It’s easy to think you know what the seller wants, but when you approach a deal waiting to be sold on whether you should buy the house, you give the seller a chance to talk. While the seller is convincing you that you should buy their house, they’re convincing themselves even more that they’re ready to sell it, no matter what. They might be a tired landlord or an out-of-state homeowner, but either way, when they realize they have a chance to make some money, they’ll get excited about an offer. Sometimes a sandwich lease option won’t work for a situation, so Gavin shows our students how to transition from a sandwich lease option to an assignment lease option. When you work with coaches like Gavin or myself, we can help you figure out where your script needs some tweaking. Sometimes all you need is an outsider’s view to help you see where you can improve. What’s Inside: —One of the biggest mistakes made with the lease option concept. —How a coach can help you untangle one of your common problems. —How one offer can make another offer look better. —Don’t assume you know what the seller wants; let him tell you. —The point where you should mention lease options (and it might surprise you!).

865 » Things You Need To Focus On To Do Deals In This New Market Apr 27, 2020

Show notes

I started in real estate right before the crash, so I have to be honest and say that I made a lot of mistakes when I entered the real estate market. I’m embarrassed to say that I lost homes to short sales and foreclosures before I finally figured out what I was doing. And I learned that lease options in a down market work really, really well. The 3 things you need to be focusing on right now are making more lease option offers, making buyer offers, and following up with your old leads. Increase the amount of offers you get accepted by being flexible in your financing when you use lease options. There’s a lot of power in being able to give the seller any price they want as long as they wait for it. I walk you through my philosophy and how I make my three main offers. In addition, in my Mind Map, I’m giving you a calculator for the three different kinds of offers: —Cash offer —Seller financing interest only —Seller financing principal only This free Mind Map will help you figure out how to handle this changing market. It’ll include calculators, marketing tools, letters, and a lot of other things that will help you pivot and shift. When you get the link, you’ll only have View privileges only. If you want to make changes, go to File and make a copy or download it and save it as an Excel spreadsheet. I walk you through how to find a rental house on Zillow to make an offer on. Remembering that you want 15 percent equity and 25 percent cash flow for the properties you’re looking for, I run the numbers on a couple of houses to show you how to find a great deal. What’s Inside: —You can give a seller any price they want as long as they wait for it. —Remember the sandwich lease option rules: cash now, cash flow, cash later. —I share examples of a cash offer, wholesaling lease option offer, and a sandwich lease option. —I walk you through how to use Zillow and Redfin to find rentals to buy. —Get my free Mind Map with the tools you need to make better offers.

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