Real Estate Investing Mastery Podcast
Summary: On the Real Estate Investing Mastery Podcast, Joe McCall & Alex Joungblood will share with you the real world secrets on how to make a full-time income through investing in real estate - with a special emphasis on fast cash strategies like Wholesaling and Lease Options. You will learn how to escape the 9-5 through hearing the stories of other successful investors, and discovering strategies that both Joe and Alex have implemented in their businesses to make them tons of money and obtain the freedom many only dream of. Join Joe & Alex on the Real Estate Investing Mastery journey. Don't forget to see www.RealEstateInvestingMastery.com to claim your FREE "Fast Cash Survival Kit" of over 5 hours of awesome video content!
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- Artist: Joe McCall
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Nobody, and I mean nobody’s doing radio ads, and that means it’s a perfect medium for advertising. But there are some misconceptions about radio ads, like the costs or where the audience is really hanging out. Chris Arnold from Wholesaling Inc lays out those misconceptions and the truths about them, and he even includes some of his advice that he gives his own coaching clients. First and most importantly, you are not your demographic! When you’re advertising, you have to think about where your demographic is, and if they’re over 50, they’re not on Spotify. Chris reverse engineers the three demographics on radio and then explains how to target them. I have a local friend that I heard on the radio, and he was so over the top excited that I barely recognized him! But Chris assures me that enthusiasm and local personalities are great selling points for listeners. Becoming that local celebrity and having people recognize your voice builds your credibility and authority, and you become the first person they think of when they want to sell that apartment building that’s been giving them constant headaches. Chris shares some of his blueprint for making great and effective radio ads, and how to identify what your audience wants. He coaches his clients through their ads so that they’re successful for them, and he breaks down just how cheap your advertising costs can get in this marketing channel. Radio yields lower call volume, but with higher quality leads, which is the exact opposite of the spam-like direct mail approach. Chris’s team also feels proud of their radio ads because they don’t make them feel sleazy. And he uses a vanity phone number for every market he’s in so that it’s easy to remember (super important for radio ads!), and so he can tell which ads are working in which market. Chris works with a lot of coaching clients helping them create radio ads that work, but he does not want to saturate the market with radio ads. So he only works with a limited number of people in each market. If you’re interested in moving into radio ads, follow the link in the show notes and get together with Chris today! What's Inside: —Why you should start with 60-second radio spots. —How to identify your demographic and stations to advertise on. —Making a virtual wholesaling team become a cohesive team. —Chris breaks down the dollar per dollar return on marketing. —Why he answers all of the calls live.
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First of all, before we get started today, I want to tell you to take everything I say with a grain of salt, and that you should definitely consult a real estate attorney when dealing with legal matters. But now that I have that out of the way, I want to offer up some creative ways for finding and using realtor contracts as the jumping-off point for your own contracts. One of the benefits of using a realtor’s contracts is that they’ve already been written by a lawyer. These contracts have already been written with the local city, municipal, county, and state laws in mind, so any tricky local laws you might run up against have already been accounted for. You could straight up ask a realtor friend for one, or you could get your own real estate license so that you could access one, or you could ask a realtor’s association for one. Some of the associations might copyright their contracts, so you’ll have to tread lightly if that’s the case. When I use these contracts and come to the part for the broker stuff, I just cross it out and write in big, bold sharpie, “Non-brokered transaction”. Or, if you want, you could cut and paste the relevant part of the contract out for your own use. You really just need the right language for your contract, which these provide. The bottom line is, review the contracts you do use with a real estate lawyer. Find an investor-friendly, creative type real estate lawyer to sign off on your contract. I’m closing with some examples of how a contract protects you, why you need a standard purchasing agreement in place, and how to find the best eviction attorney in town. If you do decide to become a realtor, I’ve been working with Keller Williams for years, and I’ve been really happy with them. If you head their way, tell them I sent you. What's Inside: —How to find realtor contracts. —How to find a great eviction attorney. —At what stage you should partner with a real estate attorney. —Why having an airtight contract protects you.
Dealing with probates and tax delinquents requires a little bit of care and finesse, which Jason Lucchesi from No Flipping Excuses, is happy to provide. He opens up about all of his tips for chasing down leads in this podcast, and how to navigate the difficult conversations you have to have with people as they’re dealing with the loss of a loved one, or losing their home. Marketing himself to folks with quit claim deed, AOD, or deeds with the name “trust” on them are just a few of the ways that Jason finds probate leads. Most of the time these leads are older folks who are looking to downgrade from their big house after their partner has died. Jason’s built a relationship with local attorneys who know he’ll purchase a home quickly and fairly. Jason shares the tools he uses to purchase data, and he points out that in non-disclosure states, this information may not be online. Building relationships with elder care professionals and county clerks help him work around some of those limitations. Many times people who are selling off a house after death aren’t just trying to sell the house; they want to sell the contents of the house too. So Jason’s had to accommodate these kinds of sellers, but it’s been surprisingly beneficial for him. Tax delinquencies are another tricky situation because many of these folks are on a fixed income with no hope of fixing their situation. Jason shares with me the kind of questions he asks them to determine if he can help them with tax assistance, the very stringent requirements of a tax payment plan, and how he helps homeowners find a better situation. You might have to navigate probates and tax delinquency deals with thoughtfulness, but the high-profit margins make them worth your time. What's Inside: —How you can use LinkedIn to find real estate investors, and the job titles you should search for. —How to handle tax delinquencies with a bankruptcy attached. —What to say to a bereaved spouse about selling the house. —Using county records to find tax delinquents. —How to handle tax delinquency with a mortgage attached. —The importance of building relationships with eldercare professionals.
On his platform, Lending For Deals, Matt Bell currently has 132 lenders in 50 states with all kinds of deal types and credit profiles. Now that is music to my ears. And while they don’t currently do every deal in every state, they do most deals in every state, and they can pull up your best options for whatever address you’re looking at. As an operator, you can be incredibly cash flow-sensitive, so having your different options laid out for you in one spot is going to be hugely beneficial. Instead of selling you as a lead to all kinds of lenders who bombard you with phone calls, Matt’s company is a little more like Lending Tree, where you’re paired up with hard money lenders who are the best match for you. Over 10,000 kinds of loans are offered, including: —Rental Lending for BRRRR —Fix and Flip Lending —Construction Lending —Land Development —Bridge and Rehab —And more They have a solution for nearly every credit profile because if you’re doing deals all over the place, sometimes your credit fluctuates, depending on how many deals are open. This is a website and system built by investors for investors. Matt talks about if they do transactional funding, if they offer proof of funds if the deals on Monday are as good as the deals on Thursday, and whether they offer refinances. The only hard no he can offer is that they absolutely do not do lending for home loans. These loans are strictly for business purposes only. I’m hugely excited by the potential in Matt’s platform. There’s nobody out there doing anything like this, so I’m looking forward to seeing where this will go. What's Inside: —What kind of deals Lending For Deals can do. —Some different scenarios for how a loan could be structured with them. —Why they started Lending For Deals. —Matt recommends his favorite books. —Matt’s optimistic about the future, regardless of recession or election results.
Real estate experts love to focus on so many different things, like wholesaling and raising capital and flipping houses, and oh, rehabbing too. All of these scattered focus shows up in their bank balance. They work 80 hours a week so they don’t have to work 40 hours a week, and they listen to that voice that tells them to hustle their face-off. Who gave you that vision anyway? Shaun McCloskey knows this culture well, and he wants you to have a better vision. 85% of people don’t like what they’re doing, he says, and not many of us are keeping our New Year’s resolutions either. We want some change in our life, but we don’t know how to make that happen. For 13 years, Shaun’s been coaching high-level entrepreneurs to create a vision that allows them to live the life they want. He starts with their vision first and then helps them build their business around that. He breaks that down for me and then shows me what that kind of work looks like for some of his clients. By helping his clients combine what they love, what the world needs, what they can make money at, and what they’re really good at, he can help them identify their new direction. He talks about how he uses Humanlytics to create a personality profile that helps his clients get to the point where they truly “Know Thyself”. Shaun walks us through some of the thinking exercises that he does with clients, helping them see what they truly want in their personal and business lives. Today’s podcast is a closeup view of the workshop he’s hosting in St. Louis on March 12-14th, which you should totally come to since I’m speaking at it. He’s invited 12 experts (and me!) to a panel to talk about how you can create a life vision that you really love. If you come to this event, you can expect to prune some things out of your life to make room for more success, more family time, and more personal development. What's Inside: —Shaun talks about his pivotal moment in coaching. —How Shaun uses the Japanese idea of “ikigai” to teach his clients. —Using a worst-case scenario model, Shaun helps his clients see what they truly want. —What Disney Imagineers, Engineers, and Implementers have to do with creating a vision. —If your business burns to the ground, how would you rebuild? —Get tickets to meet with Shaun in St. Louis on March 12-14th.
When I got started in real estate, I bought a lot of courses. You could even call me a course junkie because I spent so much time buying them and so little time actually doing what they told me to. Justin Wilmot had a similar beginning, and in that way, we are kindred spirits. When we started actually doing what the courses told us, our wholesaling businesses started to take off. A lot of people ask, “Does this course work? Does that course work?”, and sure, they all pretty much work. But, and this is the key part, you have to follow through and do the legwork. Justin’s key turning point was when he invested in a mentor that followed through with him. Having someone he was accountable too, and having invested his last dime in the business, Justin had no excuses and no way to move except forward. Stop asking “What if?” and start asking “What next?”. Stop making excuses for your inaction and just start working on the business that you’re thinking about. Justin’s business has grown a lot in the last few years, and he’s learned a lot about finding the best deals. But even the most experienced investor makes mistakes. He opens up on the money he just lost on an emotional purchase and shares what he learned from it. He talks about his new rule, “Water is gold”, and how that’s currently shaping his wholesaling business. Justin’s team is essential to his business. He provides the vision, and then he delegates out the work. He never wants to have 100% of the profits so that he can parcel out the work. He’s built his business to serve his life and not the other way around. What's Inside —Justin shares how he started in real estate. —Tools that Justin currently uses to run his virtual wholesaling business. —We talk about our first mentors and their valuable advice to us. —Justin opens up about why he just lost $60k in a deal. —Justin shares his tips and tricks for making his team work together better.
I’ve been working with my own sons teaching them how to flip land, so it was really great to talk with Willie G about his experience in the vacant land business. Willie started out as a banker at Wells Fargo, but quickly realized that being an entrepreneur was a better route to success than the corporate world. He gives some great advice on how he has scaled up his land flipping business, and some predictions on where it will go in the future. One of the really great parts about flipping vacant land is the scalability. You don’t have to manage a big team to do it. Willie did his real estate flipping on the side of his regular banker job until he made $50,000 in net profit for two months in a row, and then he realized that he had enough cash flow to just walk away. He realized pretty early on that very few people can pay cash for land, so he increased his buyer pool by offering term sales and found that that’s where the real money’s at for land flipping. My sons and I have been using neutral mailers to target vacant landowners, but Willie’s found that he can offer a specific price in his mailers by targeting uniform markets and is getting a great response rate. He also aims for deals where he’s offering 25 cents on the dollar because this lets him sell it for three or four times what he paid for it. Because Willie offers term rates on his vacant lots, he does have to factor in a default rate. But one of the beauties of term rates is that he can break even in about 12 months, and he’s still left with a property to sell if a buyer stops paying. We talk about the up and coming markets for vacant land, and you might be surprised where it’s at. Willie shares a final piece of advice: Diversify and buy a lot of properties, and trust that they’ll sell. What's Inside: —Willie G shares the tools he uses to run his real estate business. —Discover why term deals are almost always better than cash deals. —Find out how to broaden the pool of buyers for vacant land. —Willie G recommends some surprising up and coming places for vacant land. —Why Willie looks for a uniform market to blanket with mailers.
I know there’s some of you who are out there wholesaling and making $20-$30,000 a month, but if you stop buying and selling, you know your income is going to go down. So you think about it, and then you may decide to keep a few of your very best deals to try and create some cash flow in your business. But really, what is your long term strategy for building wealth? Russ and Joey from Wealth Without Wall Street break down for us the idea of infinite banking. Nobody’s really getting excited about a savings account. The interest you earn is just dinky, and it’s really more like a holding place or a warehouse for your money. In a savings account, your money is accessible, but that’s just about it. Infinite banking is redirecting your savings into whole life insurance policies, just like the bank does. The policy Russ and Joey recommend is a dividend-paying whole life policy that’s in a mutual life insurance company. This isn’t like your uncle’s policy with some sort of steady premium. And it doesn’t have an immediate return either. But we’re playing the long game here, with an eye on a horizon at least 3 or 4 years out. This is not a traditional whole life policy where you put in your $500 a month and have a million-dollar death benefit. You’re going to be putting a lot of cash into this vehicle that’s immediately accessible, and that you can use as collateral to borrow money against. Russ and Joey share: —How their clients use these policies. —How to reverse engineer a policy based on the cash flow you need. —How they use the whole life policy in their own lives. —How you can use this policy in real estate deals. I know this is a whole new topic for a lot of you, and I know I had trouble wrapping my brain around it in the beginning. That’s why Russ and Joey are offering my community access to their courses. They really believe that you need tools, you need education, and you should definitely understand this before you start investing in it. What's Inside: —How to borrow against the collateral of an insurance policy. —Joey and Russ discuss the differences between term and whole life insurance policies. —They share how their clients are using these policies to fund real estate deals. —The difference between a savings account and a warehouse (hint: not much).
Almost straight out of high school, Jason Roberts and Rachel Schneider started their own mortgage company in St. Louis. Working 12-15 hour days, they were able to find great success…..until the market crashed. After filing bankruptcy, losing cars, and a primary residence, they were literally at their rock bottom. But what could have been a disaster ended up being a huge blessing in their life. They had the chance to step back and figure out what they really wanted in life. They already understood what makes a business successful. And when it comes to businesses, if you understand the mechanics, the vehicle doesn’t matter. So they took everything they knew about running a successful business and started buying short sales. Because they had lost literally everything during the crash, they didn’t even have enough money to use direct mailings. So they took the foreclosure data, ran it through whitepages.com, did a reverse address search, and started calling the numbers that popped up. They realized that the core of a real estate business is just having a conversation with someone who wants to sell their house. Relationships are the engine of real estate! They use a variety of lists to get phone numbers today, including: —Eviction notices —Facebook ads —The state’s probate list —Pre-foreclosure list from the county courthouse, the state, and the legal newspaper —Vacant list property They’ve focused on building the pipeline for their leads, and they don’t worry too much about the ones they lose. And they’ve expanded their marketing because they really think that having their faces and numbers everywhere helps them reach different kinds of people. If you’re in the Missouri area, they’re offering a real estate boot camp coaching other investors to do what they do on January 31st, February 1st, and 2nd. What’s inside: —Jason and Rachel share their absolutely lowest point, and when they decided to change. —Finding the kind of marketing that resonates with people is incredibly important. —What kind of marketing Jason and Rachel currently use. —Their favorite lists for short sales and pre-foreclosures.
In 25 years, real estate hasn’t changed much. It’s still a relationship business that requires negotiating and huge trust between parties. But the tools we use to find leads, fund transactions, and find reputable buyers is very different. Cameron Dunlap from Real Estate Wealth Network goes deep today on the app he built, the funding he currently does, and how he finds cash buyers. If your phone’s not ringing, you’re not making any money. Real estate business requires constant leads, and that can be a problem if you’re chasing down unmotivated sellers all the time. Dunlap spent 2 years developing a software that lets him scour public data and clues him in on which properties would be a good lead. He measures 19 different data points, including liens on the house, age of the mortgage, and home equity. Using an app that doesn’t rely on an algorithm, like Zillow or Redfin do, means that Dunlap’s data is more precise. It’s like having a full time VA scouring the market and looking for specific properties, but it’s all in your pocket. And because it’s nationwide data, there’s no reason for you to feel stuck in your neighborhood. That kind of data is gold! If you don’t have the means or intent to close on a deal, you could be accused of brokering without a license, and man, you do not want to do that. You have got to have transactional funding available for you when you make your offers so you can actually close on the deals. Dunlap decided to just reverse engineer this funding by offering transactional funding to anyone who purchases his package of tools. It’s just a one time fee for these tools, and then his company will fund unlimited deals for you for up to one year. Because I think this transactional funding is such an amazing deal for you, we’re doing a webinar about it, with a link down below. There are some stipulations on the funding, so you do not want to miss this information. What’s inside: —Why Cameron Dunlap doesn’t trust automated valuation models (AVMs). —How Cameron is using transactional funding that complies with Dodd Frank. —The Motivated Seller Data Feed gives you unbelievable information about homes. —What Motivation Stacking is and how it will change your leads forever.
Don’t just make more money in 2020: make more profit. This is the year you need to simplify your business and focus on the right things that will help you navigate any change coming your way. I’ve given a lot of thought to this, and I have over fourteen key things that you should focus on in 2020. First thing’s first, forget the hustle. Spend more time thinking and reading and planning this year so that you can spend the time you actually work operating at high peak efficiency. We are not in the real estate business, regardless of what you may think. We’re in the marketing business. Never stop marketing because leads are the lifeblood of your business. As the market shifts, you’re going to need more cash on hand. If you want to survive a slowdown or a recession, you need to protect yourself from being overleveraged. Don’t take on too much debt right now. Take some time to focus on profit and in order to make that profit, you have to make offers, make offers, make offers! It is the number one rule in real estate. You may need to be flexible on the kind of deals that you’re making. Don’t be a one-trick pony! Lease options, land contracts, owner financing, and other kinds of deals all help you find and close deals when you come up against houses that don’t have enough equity. Stay focused on cash flow and have an exit strategy. If you want to stay relevant in 2020, you need to learn how to sell. Take some courses on selling, join a mastermind, create a mastermind, and get some accountability going on in your life. Keep your skills sharp so that you can adjust with the market, wherever it ends up going. If there’s something you’re just not good at, find a partner that’s an expert. Work together on deals and grow your business together. I really think we’re going to see some exciting things happening in 2020, and if you take some time to prepare now for a great year, you’re going to be ready for whatever’s coming down the road for us. What’s inside: —Sit down and figure out your numbers this year so that you can capitalize on profit. —Find partners, talk to people, join a mastermind and get out of the house to keep your finger on the pulse of the real estate market. —14 specific and actionable items that will transform your 2020 real estate game. —Plan now for success this year by keeping more cash on hand and protecting yourself from taking on too much debt.
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