Real Estate Investing Mastery Podcast Volume 1

A while back, Victoria (my wife) and I invested the time to write out our “life design.” We wanted to create our own lifestyle. It included, among other things, the ability to travel as a family and see the world. Sometimes that meant going to other countries; sometimes it meant staying in the States and driving around in our RV.

It’s also important to us to have time to do other things… for instance, we volunteer for two weeks at a camp here in St. Louis called JUMP!

Things like this don’t happen by accident. So when a very special message by Steve Harvey came to my attention, I wanted to share it on this podcast. In this episode, Steve talks about using the gifts that God has given you to make your dream life become your reality.

I think you’re going to enjoy this.

What are your dreams and goals when it comes to being a real estate investor? How are you coming along on those goals? Are you moving toward becoming that successful investor, or are you still a wannabe?

Well, you’re going to love this Real Estate Investors Creed that was written by my friend, Brian Gibbons. You can read it or say it over and over each day, using it as your personal affirmation.

When you are up against challenges, when the going gets rough, whatever you do, don’t quit. Your breakthrough might be right on the other side of your next deal. Think about what Brian says in this creed and make it your own.

I know we’ve been over this subject before in past episodes, but it seems to come up again and again… and that is making doubly-sure that you are careful about intent and disclosures.

Bottom line, it is illegal to broker without a license.  But is it okay to flip contracts without a license? Maybe… You’ve got to be careful that you’re wholesaling the right way.

In this episode, I’m covering the subject by giving you a number of directives and admonitions. Are your contingencies acceptable? Do you actually have the funds to prove your intent to buy? If not, I give a number of methods in which you can get the funding.

This is not an area where you can afford to plead ignorance. Get an investor-friendly lawyer and follow their advice.

How about it? Does a 7-figure wholesaling business sound good to you?

Or does it sound like a hyped-up, empty promise? Can it really be done?

Well, in this episode, Alex and I grill Cody Hofhine to find out exactly what this new kid on the block is doing right in Salt Lake City, UT. See, Cody’s been in the business only a few years and he’s already knockin’ it out of the ballpark – and with wholesaling only.

Cody becomes transparent in this interview as he explains several of the mistakes, flubs and failures that he had at the outset. A big believer in systems, he also goes into detail about his marketing strategies.

However, his mantra is that this is a “people business,” and that it’s crucial to focus on the people first, and the property (and potential purchase) second. Cody minces no words as he also emphasizes the need for a good mentor and accountability partners… he attributes his quick success to having both early on.

Loads of valuable info this jam-packed episode, so get to it.

Realtors and the MLS can be a goldmine for deals that many investors may be overlooking. You can be the investor who’s different. As investors, we often think that there is conflict between us and Realtors, but it doesn’t have to be that way (and shouldn’t). As you’ll hear, I’m presented an interesting and different viewpoint about that in this episode.

I’m also giving you several ideas on how to use your VA to mine the gold that’s residing within the MLS. Honestly, this is just too big to ignore. After all, 90% of people who want to sell their property list on the MLS. If they have no success, they could be ripe for a cash buyer to approach them. Will you be that one?

Plus, I’m giving insight into building relationships with Realtors – something you, as an investor, need to consider.

If done correctly, outsourcing tasks is an incredible time-saver and can really boost your business growth. I started outsourcing almost right out of the gate when I began as an investor. However, I’m hearing a lot of investors complaining that they’re trying to use a virtual assistant (VA) and it just isn’t working.

The root of the problem usually turns out to be outsourcing too much too soon. And possibly even outsourcing the wrong tasks. So I’m using this episode to clarify the steps you should follow for the outsourcing process.

Technology with all its programs and systems is supposed to simplify our lives, right? Good in theory, but sometimes totally lost in actual practice.

I’ve been talking to some of my students and sensed that they’re getting bogged down in the very system that’s supposed to be freeing up their time. I’m referring to Podio and all of the 3rd-party integrations that are involved.

Because of this ongoing challenge, I’ve dedicated this episode to that very subject. I want to encourage you to see to it that your time is spent making money – not being a slave to the nitty-gritty detail work on your computer.

And I’ll tell you how you can make that happen in this episode.

I really enjoy hearing from investors who leave questions on my podcast hotline. (See the number below.) Recently, I got a question from podcast listener Russell from the U.K., asking about “quick-turn leasing.” He wants to know if we only use this strategy on the nicer, higher-end homes.

He’s referring to a course that Todd Toback and I created a while back that explains all about quick-turn leasing. So I figured that this is a great time to review that strategy as I answer Russell’s question for this episode.

You’ll also hear me share an amazing testimonial from a homeless man who used this system to change his life. How could a homeless person make this happen? Well, our system is super-simple, quick and easy.

This episode will be taking us in a direction that’s different from my usual chat about real estate investing. I am seriously looking for a full-time salesperson to be a part of my business. I’m using my podcast to give a clear description of exactly what I’m looking for.

This position is for an on-the-phone closing superstar. If that describes you, and you think working in my business would be right up your alley, follow the directions that I give here.

I’d love to connect with you, so let me hear from you.

A call came in on my podcast hotline from a Realtor/investor. He was asking for clarification about his business relationship (financially) with his broker. This call got me fired up. See, sometimes you’ll hear people (such as your broker) talking about laws associated with real estate brokering and real estate investing or that certain things are against the law…

Well, to help make sense of some that stuff and for other reasons, I always advise investors to go ahead and get their real estate license. But let me say this… if you do work with a broker, it doesn’t mean that your broker can take a cut of every deal you close. Or that they can tell you it’s the law to do so. That’s what this episode is all about.

If I had stopped doing deals in my wholesaling business every time someone told me NO (whether it was a broker, attorney, title company, Realtor, or whoever), I’d never be where I am today.

Know your rights – and know what’s legal in your state. And don’t let people bluff you. I think you’ll find this episode pretty informative and helpful.