Real Estate Investing Mastery Podcast Volume 2

Happy New Year! Have you made your resolutions yet? I have one simple piece of advice to share with all of you, my podcast listeners, for 2017. And that is this: determine that this year, you will become a giver.

In this episode, I’m driving to a friend’s house to deliver my wife’s great homemade chicken noodle soup because a member of the family is ill. This got me to thinking about the joys and rewards of giving.

How does the act of giving factor in to your business? Your life? Your core values?

Well, I’ve got some interesting insights about all this. And I’m sharing a couple of excellent books on the subject of giving.

I’m sure you’ve heard it said — probably more than once — that knowledge is power. Actually, that’s only partly true. The truth is, only in the implementation of knowledge is there any power. A person can learn and learn, but if they never put into action what they’ve learned, there is no power.

I can remember the feeling of safety and security in the college environment, and how scary the big old world looked out there. It’s easy to just stay in that place and keep on studying but never applying the knowledge.

In this episode, I take this principle and apply it to real estate investing. It’s so easy to get comfortable buying one more expensive course or attending one more expensive weekend workshop. But what good will it do if no action is ever taken?

Among my coaching clients, the most successful are the ones who take a little knowledge and jump out there and do what they’ve learned.

Are you one of those action-takers? If not, this is a good time to begin.

I had a nightmare the other night that I had to go back to work at a real J.O.B. Now that’s a real nightmare. At least it was for me.

I know there are those of you who are revving up your real estate investing businesses, and you want to quit your day job, but there’s a fear that’s holding you back. That fear of releasing what is known and what is comfortable. Believe me, I remember that feeling well. But remember this — there’s no such thing as job security these days.

When I started in real estate, I was living paycheck to paycheck from regular job, and I was always concerned about what would happen to my family if I were fired or laid off. But oh, the feeling of freedom and exhilaration when at last I began to earn more from real estate than from my J.O.B.

In this episode, I discuss the issue of quitting your 9-5 and going full time with real estate. Are you ready? How will you know? What’s holding you back?

In this episode, Alex and I welcome Donald Ross whose claim to fame is being a boon to many investors who are bogged down in the area of technology. Don hails from Southern California, but does wholesaling deals virtually in Wisconsin (where he’s from originally).

First of all, Don has his own wholesaling business through which he averages about 3 to 5 deals per month, at an average profit of around $8k. He works with a wholesaling partner in his target market and they split the net profits. It required several tries for him to find the partner he could trust, and one who got his vision.

Working with a wholesaling partner, Don saw the need for a solid CRM program where everything was out in the open and transparent. His program of choice was Podio.

From there, he went on to tweak the program, and then created a service for other investors. The “REI Automation Squad” offers an automated Podio suite, which takes the work, worry, time and stress out of setting up the program.

The system automates leads and lead follow up, which allows investors to spend less time at the computer and more time doing what brings in the revenue.

In the last episode, I talked about the importance of keeping things simple — especially in the beginning days of starting out as an investor. To expand on that point, in this episode I’m giving a beginning-to-end explanation of how to do a lease option deal. When you hear this, you’ll begin to “get it.” And you’ll see why I’m always saying that this is one of the easiest and simplest real estate investing strategies there is.

In less than 10 minutes, I’m sharing it all – how to get the leads, how to connect with the seller and what to say. Then I explain the process of making the offer and the paperwork to present to that seller.

From there, I talk about finding the tenant buyer, the importance of qualifying and what to say to that buyer. Then, how you can get your cash from the deal, step back and go on to the next.

And there isn’t any complicated, confusing information.

One of my goals for the new year is to simplify the information I present. I want to do this to help other investors – so you don’t get bogged down, but instead you’re motivated to take action. And then help you get to your first deal. Quickly.

I know when I first started out, I was a course junkie. It took a while before I understood that I kept on studying, and buying another course, and then studying some more, so I wouldn’t have to get out there and take action. It slowed my progress down. Plus, too much information can become confusing. And confusion delays action.

If there are others of you who are stalling in this way, then this is the episode for you.

My interview with Engelo Rumora is absolutely bursting at the seams with energy, excitement, ideas, inspiration and strategies. But you’ll have to listen fast. This Aussie, with his heavy accent, talks fast and yet he never wastes a word. And his enthusiasm is infectious.

So how did a young guy from Sydney, Australia, wind up in the U.S.? In Toledo, OH, of all places? And how did he zoom to the top of his field in just a few short years? After all, he quit school at 14 and doesn’t even have a formal education.

As Engelo himself says, he’s a go-getter. At one time, he was a professional soccer player but quickly realized that that career would be very short. He wanted something solid and long term. After reading Rich Dad, Poor Dad, by Robert Kiyosaki, he was certain that real estate was the answer.

After being mentored by an investor holding a net worth of over $100 million, Engelo came to the U.S., built Ohio Cash Flow and did $1,000,000 in revenue.

Engelo has properties in Kansas City, Toledo, Dayton, Cincinnati, as well as several foreign countries. He focuses on offering turnkey rentals to investors, allowing them to own rentals but doing none of the work.

His newest innovation is to build a brokerage to serve Realtors, called List and Sell Realty. This concept is just now getting off the ground. It’s an idea – and its time has come. Most Realtors work hard, but lose much of their commissions due to exorbitant fees from their brokerages. Engelo wants to change that picture.

As I said, this episode is jam-packed with an amazing amount of valuable information.

A great mailing list that is largely overlooked by many investors is the high-equity list. This list is mostly made up of longtime homeowners and landlords. In this episode, I explain how and why you might consider using this list.

You’ll hear me give detailed tips on how to narrow and target your search, and the best sources for these lists. Plus, I explain the approach to take with these property owners in order to get the best response. You definitely want to interest them in seller financing.

As an added bonus, I’m giving the URL for my newest website, “Free Wholesaling Advice.” As the name implies, I’ve set it up to give free advice. You’ll want to check this out.

I recently received a testimonial from one of my students, Shawn. I asked him if I could record it so I could share it with you. I was impressed because here is an investor who is not complicating the system.

He simply took the instructions I give in my Automated Wholesaling System, and ran with it. Shawn is from Maryland, but does deals virtually in Indianapolis. He uses a local investor just like I teach in the course.

In this episode, I share not only his tribute to the system, but also his personal approach to the business. I especially liked his phrase: simple consistency. That’s it in a nutshell. Keep it simple and stay consistent.

This is more than just Shawn talking about the system, because there are several takeaways that I came away with. You will too.

Those of you who are my regular listeners know that I often encourage investors to get their Realtor license. In my opinion, it’s well worth the time and the cost. This episode is talking directly to those of you who do have your license. And perhaps, not only do you have your license, but you might also have an interest in doing lease-option sales.

There’s a Realtor in my local area of St. Louis, who is crushing it in this niche. I’ve watched him through the years and his system amazes me. It’s simple and powerfully effective. He spends very little on advertising and/or marketing.

He’s reaching out to those people who want to buy a house, but cannot due to credit issues. Most have enough cash for a lease-option deposit and are about a year or two away from being able to get financing.

You’ll hear me explain some of the details of how this guy operates. And I’m hoping to interview him for a future episode.