Summary: In this episode of Real Estate Investing Mastery, we called on our friend and investor colleague Frank Cava to go under the spotlight and let us grill him relentlessly about his highly profitable and successful real estate investing operation. And believe you-me, we didn't hold any punches. A young guy in only his 30s, Frank’s achieved more in his real estate investing endeavors than many do in a lifetime. He’s not just an investor -- he's a business owner. He truly understands better than most the difference, why it matters, and what it takes to really setup and run an REI business like a business. This podcast was rich... You're going to learn a lot. Listen and enjoy: What's inside: 02:29 – Results of Alex's recent postcard campaign 03:08 – Update on Joe’s cross-country deal partner experiment 05:39 – Why Joe’s VA sends follow-up contracts to every seller who says “no” 07:14 – 200+ seller calls: Why Alex has a 2 VAs working the "top" and "bottom" 07:46 – How many seller lead calls can Alex, Joe and Frank's teams handle each day? 08:17 – What works better: Recorded message, call center or taking calls live in your office? 08:42 – Frank Cava: Why 10,000 postcards = around $75,000 in profits 09:44 – Frank’s 3 separate businesses, explained 10:58 –Who is Frank Cava anyway? 12:17 – How Frank got started in REI and built his business 16:25 – Why Frank intentionally grew his business very slowly at first 17:02 – Frank's philosophy on hiring temps vs full time employees 17:27 – Why Frank's doing less rehabs and more wholesales today 18:02 – How Frank make $30K on a deal he never rehabbed 18:42 – Rehabbing Vs. Wholesaling (the path of least resistance) 20:03 – What it takes for Frank to make a million dollars wholesaling houses 20:34 – Is this a strong market to continue rehabbing? 21:27 – Over 100 rehabs in 4 years... 90% sold in under 30 days 23:02 – The most important question in the entire fix and flip process: How to set your price. 24:41 – Rehabbed in 10 days, full price offer in 10 hours - bam! 26:20 – Alex's latest "Pop Top" rehabbing strategy 29:02 – The imminent importance of really knowing (and owning) your opportunity market 32:24 – Some of Frank's favorite ways to get seller leads 35:40 – Frank’s top 3 ways to get deal funding 36:48 – The art of making private lenders feel comfortable 37:50 – Establishing (i) value (ii) trust and (iii) need 39:14 – Why Alex is a loan shark ;-) 40:04 – New to the game? Here’s what you really need to know… 41:24 – How much money can I make vs how much is it going to cost me? 41:44 – The "Coffee Shop" approach to getting private money 44:37 – Making raising money an actionable item Tweetables: Frank Cava: "My business alone has fixed and flipped over 100 deals in the past 4.5 years..." [Click to Tweet] The most important question in the entire fix and flip process is how to price your houses right. [Click to Tweet] If you really know your market, you can do 6 real estate deals a year and make $200 Grand. [Click to Tweet] I'd rather do 323 deals and make $13 million, than do 2 bajillion deals and make $9 bucks a house. [Click to Tweet] Re: private lenders, it's surprising the kind of people you can find with lots of money and you had no idea. [Click to Tweet] Mentioned in this episode: FrankCavaCoaching.com XperiencedInvestor.com Transcription: Download episode transcript in PDF format here... Joe: Welcome this is The Real Estate Investing Mastery Podcast. Hey everybody welcome to the real Estate Investing Mastery Podcast glad you’re here for another great show. I’m excited about this. We got a good friend named Frank Cava on the show that we’re going to interview. He’s actually in Alex’s neck of the woods but we’re going to be talking about some cool things with regards to hard money and getting your elevator speech down because I think that’s super important.
