Real Estate Investing Mastery Podcast

In this podcast, I talk about the 4 things you should be focusing on instead of focusing on revenue. I learned this from another guy on YouTube, Dan Bolton, and I have to give credit where credit is due. But I love how he kind of condensed this and this is something that I've tried before.

—Profit

—Recurring revenue or cash flow

—Cash in the bank or net worth

—Target monthly income

But it's not just talk. The reason why I’m sharing these to you is because I want to invite you to join me at the Business Vision Workshop in St. Louis from March 20th to 22nd. It’s hosted by my friend Sean McCloskey and this workshop will dive deep into crafting a vision for your life and aligning your business with your personal goals. It's an opportunity to gain invaluable knowledge and guidance to take your business to the next level…and maybe even a great chance to hang out together! Don't miss out – secure your spot today at businessvisionworkshop.com and send us an email at [email protected] if you wanna do a meet up! See you there!

What’s Inside:

—4 things you should be focusing on instead of revenue.

—Invite to Business Vision Workshop in St. Louis.

—Send us an email! Let’s meet up at the workshop!

It’s really important to understand the importance of making offers. If you can get into the habit of making 1 or 2 offers a day, I’m telling you guys, you will do deals. It's as simple as that. It's not a complicated business. It doesn't matter if you're doing commercial apartments, multifamily houses, land, whatever. If you want to do more deals, make more offers. If you’re not making somebody mad by noon, you’re not talking to enough people. 

When you're following up with sellers, you're following up with previous offers. That's where the deals come from. At first, you may not feel like you’re making a lot of progress, but don’t get discouraged. If you’re making one to two offers every day, it eventually adds up. Getting one out of every 30 to 50 offers accepted is great, and you’ll start building momentum. 

What’s Inside:

—Why you need to make 1-2 offers per day

—How to build momentum and do more deals

—Why you’re not in this business to make friends

It doesn't matter how bad your credit is, you can still do deals. I did a lot of deals, even with bad credit. Three years ago, I had a huge tax lien, a federal tax lien of $520,000 on my house, on everything we owned. The IRS was threatening to send me to jail if I didn't pay this thing off. Basically, what happened was I started doing a lot of deals, I started making a lot of money, and I wasn't setting aside any money for taxes. I kept on paying off my old taxes without paying my new taxes. I kept on digging myself in a bigger, bigger hole. 

There’s this book called Profit First, and I read it cover to cover. Then I hired a full-time bookkeeper and operations manager for my business. We implemented the Profit First method and after some time, we turned the ship around. The point of the story is to not make the same mistakes I did. Hire a bookkeeper if you need the help and read the book Profit First. If you’ve made mistakes, don’t hide your head in the sand. Face your problems head on and ask for help. 

What’s Inside:

—How I got out of massive tax debt

—Why I chose to implement the Profit First strategy

—Why you should hire a bookkeeper to manage your accounting

Jamil Damji is in the house and here, we’re talking about the upcoming Squad Up Summit, an event that I'm going to. It’s April 23rd through the 25th in Orlando. It’s jam packed full of amazing speakers and presentations on how to take your real estate business to the next level. Jamil has been a wholesaler for a couple of decades, and he founded one of the larger wholesale operations in the country, Key Glee. His franchise company is now in over 100 markets. Wholesaling is in his DNA, and he got started without any training. Jamil was able to generate millions of dollars in revenue and profits because of the unique way he sources deals.  

I’m also doing some brand-new workshops on what I’d do if I were to start all over again from scratch and create a new business in a brand-new market. I'm going to be pulling back the curtain and showing you exactly what I would do step by step. I'm calling it the Land Fast Start Masterclass and it’s a $7 workshop. I'm going to be showing you everything, including picking a market, finding the buyers, finding the sellers, starting a marketing campaign, direct mail and cold calling. Go to SquadUpSummit.com for more info.

What’s Inside:

—All about the Squad Up Summit

—How Jamil grew his real estate empire

—Info on my Land Fast Start Masterclass

One of the things I'm always telling my clients and my friends to do when they want to get started in real estate is to stop asking “what if” questions and start asking “what next” questions. Big, big difference between the two. It’s easy to get stuck in what-ifs, like what if the seller gets mad at my offer? What if I offer too much, the seller accepts my offer, and then I get it under contract, and I'm trying to sell it, and I can't sell it because I've offered too much? What if I can't get the money to buy the house or the vacant lot?  

You could go down a hundred different directions and get really discouraged really quickly. If you wait until all your I’s are dotted and all your T’s are crossed before you take any action, guess what? You're never going to get anywhere. I always tell my clients to stop worrying about the what-ifs and just focus on what’s next. I started seeing success when I was okay with making mistakes and started taking massive, imperfect action.

What’s Inside:

—Why you need to stop focusing on the “what ifs”

—How I help clients focus on what matters most in their business

—The importance of taking imperfect action

Here, I want to share with you the story of how I got myself into the real estate business. Hopefully, it’ll inspire you as you head out on your own journey. I've done all kinds of crazy deals, everything from traditional to creative financing with subject-twos and lease options. Right now, I'm doing a lot of vacant land, and the great thing about this business is that no matter what direction the market is heading, whether it's going up or down, things are always moving. The market is always shifting, but wealth never disappears.

Right now, in my opinion, we're in a time where vacant land is the easiest way to make money in real estate. And hopefully, it’ll be that way for a long time. Regardless of what happens, it’s important to stay educated and be a lifelong student. Even though I’ve come a long way, I still invest in my education because I want to stay on the cutting edge. It's been 14 years since I've become a full-time real estate investor, and I love what I get to do. 

What’s Inside:

—How I switched from engineering to real estate.

—How I got out of massive debt and started making serious money.

—Why it’s important to stay educated.

Would you like to learn how to do deals while golfing? Here, I’ll show you how to do it. A few months ago, we were out hitting some balls, and I got a text from my acquisitions manager saying that we just made $36K on a flipped vacant lot deal. We never went to see it and barely talked to the seller. We worked with a realtor and got this: it was listed for $340,000, we got it under contract for $215,000, and then we sold it for $280,000. 

After all our closing costs, taxes, and other stuff, we netted $36,000 on this vacant land deal that we didn't buy; we just assigned the deal. We used a realtor out in another state, and we didn't use any of our own money. You’ve heard me say before that the keys to success in this business are three things: marketing, automation, and delegation. That’s how you can do deals while golfing, and I’ll share with you some of the best tips to make things happen.

What’s Inside:

—How we did a recent deal by partnering with a realtor.

—Why marketing, automation, and delegation are the keys to success in real estate.

—How to set up the right systems to do more deals.

I want to share with you the five biggest mistakes to avoid whenever you're making offers or buying vacant land. If you ignore these mistakes, you're going to be ignoring them to your peril because they’re really critical. You have to understand what makes a good deal a good deal and what makes a bad one bad. I talk about why it’s important to know who is on the title, which is a big deal with land, and how to clear things up.

I also get into terrain and why you need to know how much of the land is usable and whether or not there’s good access. You don’t always have to visit a property yourself to get this information, and I’ll show you how. I walk through why you need to know if the taxes are current on the property and if there’s an HOA with restrictions. Finally, you’ll need to know what the competition’s like in your target area and how to get the data.

What’s Inside:

—The five biggest mistakes to avoid in vacant land offers.

—How to know who’s on the title and how to clear up issues.

—Tips for doing the best due diligence on a property.

Here, I’m covering how to talk to sellers, and specifically, realtors. Sales is a million-dollar skill. If you're not on this phone, you're not making money. When we do marketing, the lead comes into a voicemail. We send an offer. We're averaging about one out of every 25 offers accepted for every deal—one offer accepted for every 25 offers that we send when we don't talk to the sellers first. However, when we do talk to the sellers first, we're averaging one out of ten. You're always going to do much, much better when you can talk to the sellers first because you build some rapport and they get to know you. 

The key to success is to talk to five sellers a day. If you make offers to at least three of them, you're going to do deals. I just launched a brand-new program called Deals with Joe. It’s seven bucks a month, and in there I talk about how to wholesale houses. It's a little different than vacant land, but basically what I'm doing is going through a 30-day program teaching you how to wholesale a house, and you can use a lot of those same principles for land. Check it out by heading to the link below.

What’s Inside:

—A script for how to talk to sellers and realtors.

—How to ask the right questions and make an offer.

—What to say when a seller is on the fence.

How would you like to learn how to go from $7K to seven figures? Does that sound spammy? Well, maybe it does. I don't know; I don't care, but it's true. Sumner Healey joins me here to talk about his journey from $7,000 to seven figures through doing land deals. If you translate that and do the math in your head, that's over $1 million. Not too bad, right? Is it all rose-colored glasses, flower petals, and easy-peasy lemon squeezy? We're going to find out.

I discovered Sumner on YouTube, and he’s doing some really awesome things there. He's got a good reputation in the industry. He's doing what he teaches, and he teaches what he does. He's an open book, and he's doing deals. Here, I ask him a lot of questions about what he's doing and what he would do if he were to start his business all over again. The market is changing a little bit, and we talk about that too because you need to be prepared. Sumner and I chat about where the market is headed and how we can set ourselves up for success.

What’s Inside:

—How Sumner went from $7,000 to making seven figures doing land deals

—How to prepare for and adapt to market changes

—Tips and tools to elevate your real estate business