Real Estate Investing Mastery Podcast Volume 1

I’m in my car driving to attend my local wholesalers mastermind meeting here in St. Louis. This is a by-invitation-only group of active wholesalers, and we share knowledge and encourage one another. And I’d like to think I’ve been sharing some valuable info here with you as well…

I’ve been asking all of you to call my podcast hotline and ask questions, and many of you are doing just that. (Thanks! I love hearing from you.) In this episode, I answer a question regarding subject-to.

A lot of investors get confused when it comes to putting together a subject-to deal. They can be tricky. So, in addition to better explaining this strategy, I also run through a variety of options to consider, including how doing a short sale might make sense or perhaps even bringing in a partner.

Lots of helpful subject-to info in this episode.

I’m on my way to go look at a house as I record this episode. As you know, I rarely look at properties, but this is different. This is a house my mother is buying.

And in this episode, I’m addressing the fact that things don’t have to be perfect before you move forward. You’ve heard the saying that 70 is the new 50 – meaning people in their 70s are accomplishing feats that used to be done by those in their 50s. Well, I’m taking that and saying “done is the new perfect.”

Are you one of those who gets tripped up thinking every little thing has to be perfect? Ask yourself where the snags are that slow you down and impede your progress. I see it all the time – investors wasting a ton of time just trying to perfect a postcard, for example, when they could be making offers and closing deals.

Does that sound familiar? Well, to that I say: Jump and figure out how to fly as you fall.

I’m still hanging out at the airport in Spain as I’m recording this episode. This is sort of an appendage from the previous episode — it was something I was going to say but then forgot. But it’s important, so I’m adding it here. It has to do with being distracted by other opportunities…

Those of us who are entrepreneurs often hear about money-making opportunities, and we begin to calculate just how much we can make. But I contend that you’re asking the wrong question. And in this episode, I explain what you should be asking.

I’ve made this statement before on a podcast episode – and I think it’s a good time to re-emphasize it: “Focus will make you rich. Shiny objects will make you go blind.”

If you focus on one thing at a time, you’ll have a much better chance of success in your business.

Alex and I are happy to welcome a longtime, real estate investor friend, Rob Swanson, to this podcast episode. Our interview with Rob focuses on the state of FreedomSoft, a software program that Rob purchased last year.

If you’ve heard of FreedomSoft, or if you happened to be a user in the past, here’s a heads up – it’s basically totally new, updated and refurbished.

Rob’s business mantra is threefold:

Keep it simple Build a system Let it scale

He carries this concept into his revised version of FreedomSoft to where it serves as a business center for all facets of real estate investing… from wholesaling to rehabbing to building.

Rob not only shares a plethora of details of how the software functions, but he also shares real-life examples of how it’s working for investors.

Instead of “In the Car,” this is an “In the Airport” episode. I’m in the airport getting ready to come home from the Spain conference with Tom Wade, and I’m ruminating on all that’s happened. Interacting with other investors from other countries gave me so much to think about – in a good way.

I found the Brits were quite taken with the concept of land deals, so I apprised them of how that works in my business. And they are amazed at how accessible lists are in the U.S., as finding lists in the U.K. is more difficult.

You’ll probably be able to tell I’m weary and anxious to get home, but still exhilarated all at the same time…

Being with a group of investors – as I am on this trip in Spain – always reminds me how important relationships are in this business. I learn as I teach and share. I learn from other investors’ ideas. And at the same time, they learn from me. That’s the subject of this episode – building relationships.

So who in the business are you interacting with? I can assure you there are like-minded investors right there in your own community with whom you can build strong relationships. You can help and encourage one another.

One of the activities that went on in this conference I’m at was role-playing. This hones our skills in talking to sellers. This helpful role-playing is certainly something you can – and should – be doing as you create and build relationships with other investors.

All that and more in this episode.

Hey there, Joe here – still in Spain as I record this episode. (And missing my family.)

Today, I want you to think about a couple questions…

In what areas are you struggling right now? What’s slowing you down? That’s where I’m going in this episode.

Years ago, I had a mentor who had two pieces of advice for investors:

Stop f’in’ around Stop being a sissy

I’m sure you can tell I’m using nicer language to clean it up. Anyway, as I was talking with investors over breakfast recently, this came to my mind…

I know that mindset and positive thinking are important, but then what? That’s only the first step. You can have the best mindset in the world; you can read The Secret, have a dream board; visualize… but if you don’t market and make offers – you’re not going to have success. Mindset is just the first step.

If you spent $20k on education, but you still don’t want to spend $100 on marketing, then there’s a problem.

I go over all of that plus some helpful answers in this episode.

This episode is coming to you from Spain! I’m conducting a 3-day workshop with my friend, Tom Wade. Tom has sunk his teeth into the virtual wholesaling concept and is actively doing deals from Europe. (In the UK they call it “flipping remotely.”)

I give a great tip in this episode of how you can add a personal touch by sending a video email to your contacts. Isn’t technology amazing?

So now you can actually follow up an initial meeting with a personal video email. It only takes a minute and it uses technology you already have access to – such as your Gmail account.

More about this amazing innovation in this episode.

In Part 1 of the interview that Alex and I conducted with Cody Hofhine, we learned some of the strategies that he was using in his investing business in Salt Lake City. We learned that Cody’s mantra is that this is a “people business.” “It’s crucial to focus on the people first,” Cody says, “and the property (and potential purchase) second.” He also shared how he places a lot of emphasis on having a great mentor. Make sure you check out that episode – #147.

In this Part 2 of our session with Cody, we dig even deeper in to his systems and strategies. Alex and I peppered him with questions about such business structures as delegating, hiring a staff, doing follow up, and on and on…

You’re going to be amazed at how streamlined Cody’s business is and how well it functions. Did you know that a good system can go awry if it’s too complex and gets bogged down? Systems can be great business builders – but only if they’re done right.

It’s tidbits like this that make this a powerful, information-packed episode.

I love when you use my podcast hotline to leave your questions. I have a question here from Laurel from New Jersey, who wants to know when she should hire an acquisitions manager.

So, I’m using this episode to give Laurel several tips on not only when, but also why she might seriously look at outsourcing this aspect of her business. I also add in the “how” as well – how do you find applicants and how do you walk through the hiring process?

I’m also including a number of warnings and admonitions that hopefully will steer you in the right direction and keep you from making serious mistakes in the hiring process.

If you’re asking the same question as Laurel, this episode will be of great interest to you.