Real Estate Investing Mastery Podcast Volume 3

I spent three months writing Recession Proof Real Estate Investing and you guys are definitely going to want to get your hot little hands on it. It's an incredible deal. There are four different PDF books included, and they cover: —Where the new opportunities are at in this recession —How to make multiple offers —Finding buyers (so important in a buyers' market!) —Why the money is in the follow-up I'm giving you the actual marketing pieces that I use, and you're going to want these because marketing for buyers is so important right now! I'm including the mind maps that inspired this book, and I'm walking you through Redfin, Zillow and other sites showing you how I look for houses and buyers on these sites. Included in the book is the bonus Wholesaling 101 class that I did with my good buddy Gavin Timms on how to wholesale deals from A to Z. And if you already have my Simple Lease Options course, I will be adding Recession Proof Your Business as a free bonus for that course. There is no audio version, but there is a video version, which you'll need so that you can see me walk through things with you. This $7 PDF is available for immediate download, so don't worry about waiting on the mail. I wrote this book because I want to help you find the opportunities that are everywhere right now, so click the link and download it today. What's Inside: —What's selling really, really hot right now (and you might be surprised). —99.9% of your deals are going to come from following up. —Hoard positivity, not toilet paper. —If you've already purchased my Simple Lease Options course, find out how you can get this book for free.

We were definitely due for a correction anyway, but this COVID thing has just accelerated it. A downturn is inevitable, so we're going to help you prepare for that downshift in the economy. Currently, the housing market seems strong, but it's only strong because inventory is low. You need to get ready so that you're ready for the coming wave of foreclosures, and you absolutely need to be able to offer more than just a cash offer. My newest book Recession Proof Real Estate Investing has everything you need to make multiple offers to a variety of sellers, including: —Mind maps and videos —My spreadsheets —Multiple calculators that will help you figure out better offers —Plus my course Wholesaling 101 I want you to succeed as you pivot in real estate. So skip the mess at the post office and download my pdf book for $7 directly from my website REIProof.com. If you love this book (and I hope you do!), don't keep it a secret! Please like and share this website with them. What's Inside: —The 4 or 5 things you can negotiate in a lease option deal. —How you can get ahead of the tsunami of foreclosures that are coming. —Everything that's inside my new book Recession Proof Real Estate Investing

There are two rules that I want you to remember as we navigate through this crisis: 1. Time is your friend. 2. Emotion is your enemy. With those two rules firmly fixed in your mind, you'll be able to invest in real estate with confidence. And when you set out to make the buyers win, the sellers win, and the private investors win, you're going to win too. If you want to recession proof your real estate business, I've just published my newest book Recession Proof Real Estate Investing. Based on a mind map and some videos that I did, this book will teach you everything you need to know to make it through this recession. This is one of the most important books I've ever written, and you cannot get this on Amazon. For $7, this pdf book is only available on my website, REIProof.com. If you're going to navigate this crisis and find the opportunities (and they're there!), then you need a strategic roadmap that will help you ignore the fear and emotion that you're feeling. Download my book and let me know how it's helping you focus on the opportunities in your life. What's Inside: —The two most important rules to keep in mind through this change in the market. —How I've personally prepared my business to go through this uncertainty. —Short term decisions driven by fear cause long term problems. —Why you need to understand why wealth doesn't disappear; wealth transfers.

By pretending to be that guy on the beach who has nothing better to do, you can build rapport with a seller and casually find out the information you need to decide if the house they're selling fits your criteria. Gavin walks Rob through a few different versions of the opening conversation to help Rob become more comfortable with the role he needs to play to stay in control of the conversation. As an investor, here are the 5 things you need to find out in this conversations: —The motivation —The time frame —The situation —The condition —The price You don't need to overshare information on your end because this conversation isn't about you. Listen carefully to some of Rob's great questions that help him quickly fill in the details on a house that a preliminary call with a VA might have missed. We love working with our coaching clients, and if you're looking for a real estate mentor, we'd love to work with you. Fill out a form on our website and we'll connect with you to see if we'd be a good fit. Don't forget to subscribe to Gavin's YouTube channel so you don't miss any of his great coaching advice. What's Inside: —Why it's important to understand what motivates a seller. —Strategies around being the first to name a price. —How long your lead-in should be in a phone call. —The kind of questions you'll need to ask to dig deep into a property.

When you sign up for any new course, and you start watching module one, then module two, then module three, all of a sudden you realize that the more you learn, the less you know where to start. Gavin Timms is going to walk you through some strategies today that help you focus on the things you can do today that move you toward the outcome you're looking for. Everyone has a different reason for doing real estate. Maybe you're looking to replace the job you hate. Maybe you want to spend more time with your family. Maybe you want to stop traveling so much. Maybe you want a virtual job so that you can actually start travelling more. Whatever your reasons are for starting a new course of action, the steps you need to take today are all you should be focusing on. Gavin shares the same tips here that he applies with all of his coaching clients. If you loved this episode, subscribe to REI Network on YouTube and leave a review. What's Inside: —The best way to accomplish goals without getting distracted. —The safest ways to invest in this market. —The number one question you need to ask yourself. —How to focus on a simple plan that will move your real estate goals forward.

When you set aside an evening to cold call leads, the first couple of calls can sometimes go a little rough. Maybe you're out of practice, or maybe you just sound nervous. Gavin Timms has some advice on how to build your momentum until every phone call and every interaction goes more smoothly. Starting from a script is a helpful way to make better phone calls. You can download the script we recommend for our clients on REINetwork.com. Commit to some time to focus on your real estate business, and then just go to town. But sometimes, things don't go as well as you planned. Don't sweat it. Every time you work at your business, the better you're going to get. And that moment when things just start clicking is the moment when you need to seize the opportunity. If you loved this episode, subscribe to Gavin's Youtube channel, and leave him a review. And if you're interested in becoming a coaching client, we'd love to connect with you. Send us a note, and we'll get in touch to see if we'd be a good fit for each other. What's Inside: —How to use scheduling and time blocking to carve out some time for your business. —Strategies to train your VAs on. —How to ignore your concerns and capitalize on your successes. —The only time you should not be talking to sellers.

If you haven't failed in business yet, you will soon. Some of these investors right now have only been in the business since 2014, and they're sure they have the Midas touch. In a market where everything goes up all of the time, it can sure look like you have the golden touch. Things are going to start getting hairy soon, but that's okay. Number one: It's okay to have failure. And number two: Be careful about taking advice from someone who hasn't gone through a failure cycle yet. I'm going to open up about some of my biggest failures because I want you to see that I'm a much better coach and entrepreneur because I've already failed spectacularly. In the next few months, some of you are going to have failing businesses. Maybe some of you are already there. I've got some words just for you because I know exactly where you're at. If you have some time, give Russell Brunson's podcast a listen. It inspired my little pep talk for you today, and it has some true golden nuggets of wisdom in there. What's Inside: —Some of my biggest lessons from all of the failures over the years. —Why you want to take advice from someone who's been through a “failure cycle”. —If you're going through a hard time right now, don't quit.

If you spend all of your time planning and planning your real estate business, but you're really just spinning your wheels, now's the time to take massive action and change your life by changing the way you think. Some of our most successful coaching clients started killing it when they made these 8 important mindset shifts. This is not a webinar, so put away your credit cards. We're not selling you anything. We just want you to move beyond talking the talk and shift over into walking the walk. It's really shocking how close you are to making $100,000 a year. Many of our coaching clients just needed a slight push or plan to get them on the path to completely changing their lives. So if you want to do more deals, maybe it's time for a coach to help you see a clear path forward. If you're ready to invest in yourself, fill out our form for new coaching clients. Let's talk about your goals and where you want to be in 6-12 months. And most importantly, let's see if we're a good fit for you. What's Inside: —8 key mindset shifts that will make you a better real estate investor. —The four things that motivate sellers. —How to think better for your business. —When it's time for a coach to take you to the next level.

It's no secret that I love lease options and what they can do for your real estate portfolio. But there are some common mistakes that every investor makes that I want you to avoid. I want your lease option experience to be hassle-free, so listen close while I unload my years of wisdom on you. First of all, do not pay too much option deposit money! A lot of times when I'm negotiating with a seller, I'll offer a thousand dollar option deposit money. Remember, you want to put yourself in the best position possible, that's why you also never want to personally guarantee a long term lease. In your hurry to get a tenant in a house, don't forget to pre-screen the seller too. You'll want to ask questions like: —Do you have any judgments or lawsuits filed against you? —Do you owe any back payments? —Do you owe any back taxes? —Are you going through a bankruptcy? One of your most powerful tools in your negotiating toolbox is the phrase “I'll get back to you”. I show you how I use it to buy some time and make certain about my numbers. If you'd like to dive more deeply into lease options, my webinar Simple Lease Options gives away all of my tools, like my one-page contract, my calculator, my proposals, and so much more. It's free, and it's available at SLOClass.com. What's Inside: —What kind of repairs you should do on a lease option property. —Why you should prescreen the sellers, not just the tenants! —The rule of thumb for buying awkward and weird properties. —The only time I would work within a short timeframe.

You might think the housing market is strong, but it's a lagging indicator. That means it takes about 6-12 months to see the effect of the stock market and the economy on the housing market. So, those deals are coming, and you want to be ready to offer any seller a variety of options so that you can come to an agreement together. But not every house is a great house! I want you to avoid nightmare houses that suck up your time and money. I'm going to lay out for you the most important things to know when you're using lease options including: —Don't offer for small houses. —Only pick desirable neighborhoods. —Always check the title. —And much, much more. If you want to dive a lot deeper into lease options, I want to invite you to my webinar Simple Lease Options. Do you want to rescue your leads and find a hungry group of buyers? I'll show you how to do all of that and more on my webinar at SLOClass.com. What's Inside: —How to sift through homes looking for the ones that will work best with a lease option. —Common mistakes people make when using lease options. —The mindset of tenant-buyers is a world of difference from a regular tenant.

Lease options are my favorite way to get started in real estate. If you're tired of throwing away leads and you don't want more risk, then you definitely want to get started with lease options. Lease options are a great way to build a portfolio of nice homes. Trust me, you're not going to be investing in rental nightmares. But you're also not taking over the existing mortgage and you're not owner-financing anything. So how exactly are you going to make money? I'll explain to you what a lease option is and the 3 profit centers that exist in every lease option deal. If you keep coming across homes that don't have enough equity in them, then you'll want to use the lease option as another tool in your creative financing toolkit. If you'd like to learn more about lease options than what I touch on in this podcast, then you can check out my free webinar at SLOClass.com where I go over lease options in depth. Hang around because I'll be sharing the keys to success in making lease option offers in the next couple of episodes. What's Inside: —How using a lease option reduces your risk. —The 3 profit centers inside every lease option deal. —The best way to build a portfolio of nice homes. —The benefits of controlling the paper and not the property.

Gavin and I are going live in a new market, and are going to spend all day marketing for sellers, talking to sellers, and MAKING LEASE OPTION OFFERS. Join me and Gavin on July 17 for our live marketing class and learn something special! Check it out here: http://LiveMarketingClass.com

One of the reasons I love our coaching student Chris is that he's always asking, “What's next?” instead of “What if?”. Because he's still relatively new to real estate, there is a lot that he just doesn't know how to do, but he doesn't let that stop him taking action. To help you see how to negotiate when a situation has unexpectedly changed, Gavin roleplays with Chris about a recent deal that almost didn't happen because of an unexpected home repair. It can get easy to get upset in the course of a negotiation, especially when a buyer or seller is being overly aggressive. Listen carefully to Gavin's advice for how Chris can avoid this trap. While you want to make more money with every deal, you also want to preserve your relationships. Unexpected housing repairs can sink what looked like an otherwise great deal, but you don't want to pull out of every deal every time that happens. Building some leeway into your offers is one way that you can protect your deal from getting torpedoed before closing day. When we roleplay with one of our coaching clients, it helps them see where the negotiations have broken down, and then we can give them some tips on how to recover their position of strength. Gavin emphasizes using the numbers as an excuse for why Chris can't move on his side because he wants to remove a potential problem for Chris. Chris's willingness to learn and take action makes him a great coachable client. If you're ready for a real estate mentor to help you take your investment journey to the next level, reach out to us on our website. What's Inside: —When the numbers don't work, what kind of options do you have? —How can you diffuse a tense negotiating session? —The number one, most important tip I have for you today. —How to make yourself an easily coachable student.

You can do all of the marketing in the world, but if you don't follow-up on your leads, you're only wasting your money. That's one of the first things that caught Gavin's attention about Melissa was how willing she was to call people back. If someone was interested in selling their house, Melissa said she was going to call them until it was sold. Melissa and Carey quickly discovered that their complementary strengths made them a great partnership. Finding a partner to make up for what you're not good at is a great way to build your REI network. Gavin Timms and I do this too, and it's allowed us to expand in ways that we couldn't on our own. Everyone told Melissa and Carey that things would just get worse in real estate, but they knew my number one rule, “Crises create opportunities”. They dialed it into their networks, and they still did $100,000 during the time when everyone said the world was going to end. Of course, they had to know who could still do deals during the shutdowns, quarantines, and all of that crazy stuff. That meant that they had to rely on the networks that they'd built up over the last few years. Virtual wholesaling has freed them from their desk jobs and let them build the life they've always wanted, which includes laying on the beach in Florida while they make money. In fact, they even closed a deal during this podcast! That's how awesome the virtual wholesaling life is. If you're interested in working with Gavin or myself as real estate coaches, fill out our form on our website, and we'd love to see if we'd be a good fit for you! What's Inside: —Why we wanted to partner with Melissa and Carey —How your personality and mindset will impact your real estate business. —What you should and shouldn't pay attention to in this market. —Why the real estate network you have is like money in the bank.

As a marketing ninja with decades of experience, Richard Roop understands how to create more effective marketing campaigns. Whether it's mailers, postcards, or social media campaigns, Richard focuses on building relationships and establishing credibility by the type of advertisements he puts out. What's better? Putting a very lengthy sales message on an oversized postcard that goes to everyone in the neighborhood, or sending it specifically to absentee owners in a wider geographic area? While some of the best things are really inexpensive, you can't do them too often because they'll make you look cheap. Richard says that you should be a big fish in a small pond, or focus your attention on a smaller market. We talk about the perfect size of a market, and how focusing on a small list can double your responses. Do you want to do more deals? Then you need to be talking to sellers. Richard explains how changing the call to action can move the needle on how many sellers you talk to. By moving from an “ad style” ad to an “advertorial” style, you can draw in more interested leads who've self-selected themselves to work with you. If you have any advertising that you'd like Richard to critique for you, he'd be happy to give you some feedback as long as you let him turn you into a case study. With decades of experience inmarketing, Richard knows how to build relationships that don't feel fake or scammy to your audience. I just signed up for Richard's newsletter on his website to receive thousands and thousands of dollars worth of free education. I had his CDs in the back of my car for years and years, and I'm so excited to have his resources in digital format now. What's Inside: —Richard explains why the magic bullet postcard marketing campaign is so successful. —What makes a terrible postcard? —Anything you can do to personalize your marketing will increase its effectiveness. —Why you want all of your marketing to do the work for you. —What the Ultimate Strategy is and how you can make it work for you.

For years, I've been teaching the wholesaling fast cash strategy. But one of the drawbacks about this strategy is that once you stop doing deals, you stop making money. What if you could make some money up front, but also make money with long-term residual cash flow? Would you be interested in that? Matt Theriault from Epic Real Estate is partnering with me to teach you about creative financing. I'm going to teach the lease option side of the lab, and Matt is going to teach about owner financing. He is such a great teacher and has a way of teaching complex subjects in such an easy way that you can actually understand the concept quickly. Tuesday, June 30th is your chance to start our six week course. We're going to be giving you support with live coaching calls, a Facebook group, and live classes. You'll get a scorecard to keep track of your work, and if you complete this class, we'll give you 100% of your money back. The bottom line is this: If we can't make you money, then we don't deserve yours. What do we get out of this? We look at this as an investment in YOU, our most important assets in our business. Not only do we want raving fans for life, we are also looking for deals. Partnering with you is a way that we can both benefit from this class. This is a six-week program, and it starts Tuesday, June 30th. We want to see you on the inside! What's Inside: —Inside The Creative Financing Lab, we're going to teach you how to raise private money. —Learn how to structure creative deals. —Find out how to take this course for FREE! —Get all of our scripts and contracts, and participate in live coaching calls.

Are you ready to take massive, imperfect action? Stop sitting on the sidelines, and dive into your real estate investing career by learning from Tom Krol of Wholesaling Inc and myself about, well nearly everything. We provide you with all of the tools you need to open up a new market, no matter where you're at in the U.S. We only advertised this class on our email list, so Tom and I wanted to open this up to our followers and subscribers. Guys, this class was so good! If you want to see what it's like to go into a new city and start marketing from scratch, Tom and I show you in real-time the steps we would take. You'll get to see day one in a brand new market, and I have to tell you that we didn't even know beforehand where we would be looking. Inside this class is a mind map, which will include: —All of the scripts that we use —All of the marketing pieces that we use —Email scripts —Texting scripts —Questions —And Phone scripts —All of the recordings that we used 100% of our class participants said they would recommend the class again, which we consider to be amazing praise. We poured ourselves and all of our materials into this class, and we're so happy to have had this level of satisfaction with our work. We're only charging $197, or if you'd like to split it up into two payments of $97, we can do that for you. This is a complete course, and we could've charged thousands, but we want it to be accessible for you. Just click LiveMarketingClass.com/podcast to sign up. We'll see you inside! What's Inside: —When you're faced with two choices, make the uncomfortable choice. —Everything available inside our live marketing class. —Why you need to start taking massive imperfect action. —How you can still take advantage of our live marketing class.

There's uncertainty coming in the real estate world, and Matt Theriault and I want you to be prepared for it. If you've been following real estate “gurus” who've been doing wholesaling for less than ten years, then they've only been in a great market. You're going to want advice from guys who have experienced some failure, and are ready to capitalize on that experience. The absolute best way to get ready for the shift in the market? You're going to want to know more about creative financing. So Matt and I got together to teach you everything we know. And because we don't want to overwhelm you with a thousand new things at once, we've broken this teaching up into three sections. Starting Tuesday, June 30th, we'll get together in a webinar, and we're going to be giving you all of our best stuff. Then we'll give you two days to implement what you've learned, and we'll come back together on Thursday for a coaching call. And then, we'll give you a few more days to implement more ideas, and we'll get back together the following Tuesday so that you can report back to us. This is huge because we are here to support you. We're going to help you and maybe even partner with some of you guys on your deals. That's what I'm most excited about. We will walk you through listings, and coach you on how to go back to sellers with a creative offer that they can't refuse. —Find the buyers —Find the sellers —Do the marketing —Raise private money —Negotiate deals —Structure the deals —Do the paperwork It's time to start calling yourself a real estate investor and stretch your deal-making repertoire. When the class starts on June 30th, the doors will close. Sign up at CreativeFinancingLab.com today! What's Inside: —What if you could triple your deal flow by giving the seller a couple more options? —What kind of debt I should've avoided during the last housing crash. —Open up new markets where there's low or no competition with these financing deals. —If you want to be successful in 2021, 2022, and 2023, you need to know how to make more than a cash offer. —Being a deal finder is the most valuable piece you bring to the transaction.

I thought I'd take some time to impart some wisdom today that hopefully will inspire you to be a better investor. There's a lot of myth surrounding the hustle, but I want you to forget that and focus on working smarter and not harder. When are you most productive? You know that saying, “Nature abhors a vacuum”? That means that our work will expand into the amount of time we give it. What would happen if you stopped giving yourself 8-10 hours to work? Could you get everything done by only working 3-4 hours a day? Be honest with what you want to do with your time. Play more golf? Spend more time traveling with your family? Hang out in meetings with your employees? Write more reports? I share an epiphany I had about my own work during a family trip to Europe, where they got to sight see while I worked. I do this a lot; I think I should do everything. But I have a team for a reason! I need to stop being a jack-of-all-trades, and let my team do their jobs. Honestly, most of the time they're better at their jobs than I am, and I need to get out of their way. If your team got your putt lined up for you and got the ball 6 inches from the hole before you stepped up to take a shot, what would that look like in your company? What's Inside: —Forget the hustle and focus on the big picture. —How your team can “line up your shot” and make your life easier. —Why working less hours might make you more productive. —Being a jack-of-all-trades isn't the best use of your time.

So many people get hung up on wanting to know how every little step is going to work out before they even get started, and this stops any progress they might make. You just need to take massive action as Dutch Jackson did. He didn't even know the first thing about filling out a contract when he landed his first deal just last year, and since then that massive action has propelled him to 20 more deals. After a layoff that Dutch later saw as a blessing, he turned to YouTube University and tutorials to learn more about real estate investing. His first deal he just happened upon when he was driving for dollars, and it was a huge learning opportunity. A drought of nearly four months made Dutch realize that he really needed to be out there networking a lot more. As a videographer and audio engineer, he found he could combine his two side hustles in a way that lets him get his real estate message out. Dutch created music just for real estate investors, with titles like: —ARV —REI Rail —Flipman Voicemail —Bandit Signs —Birddog —Motivated This last year has been a huge growth opportunity for Dutch, and he's realized what he loves and doesn't love about real estate. The cool thing about this business is that there are so many creative financing deals you can do that will support the lifestyle you've always wanted. His next goals are simply more freedom and more happiness in his life. I share some lease-option deals that can help him build that investor lifestyle that he's looking for. If you need a soundtrack for your real estate investor life as you drive-for-dollars or look at houses, please share, like, or listen to Dutch's newest album! What's Inside: —The best business card he's ever had is the real estate investor album he created. —Dutch taught himself about real estate with YouTube University. —The first and second deals were on a big learning curve. —I give Dutch some ideas for moving away from just wholesaling into more freedom.

Nearly everything I learned in real estate came from the marketing brain of Richard Roop. I used to drive a lot to work, and I hauled around his CDs in the back of my car to listen to on the drive to the office. After a hiatus, Richard is back to give some evergreen real estate advice, and to share his wild story of how he lost his real estate portfolio. “I can get you that price, but I can't give you those terms” is one of the phrases that Richard coined. As an early adopter of creative financing like subject twos or lease options, Richard taught his students how to engineer a variety of deals that would appeal to a seller. The Baby Boomers drove the price appreciation over the last few decades, but they're starting to downsize. Richard predicts a long-term trend of flat or down for the next 10-12 years, and right now is a great time to control without ownership. Becoming familiar with lease options is a convenient way to own without actually possessing the property. Additionally, buying with long-term owner financing or getting in and out with quick flipping could be great options in the next decade. The Ultimate Strategy is when you target homes in your area that are owned free and clear. By structuring phenomenal financing, you can get into nearly any of these homes. And as long as there's positive cash flow and you're paying down the mortgage, this will only be a winning strategy for you. But is it still a great strategy? As a general warning from Richard: Get very good legal advice if you're soliciting private money. While he's still under a gag order from many of the events surrounding his years-long legal battle with the local division of securities office, he can give us enough details to offer a cautionary tale. What's Inside: —As a transaction engineer, Richard loves figuring out the different ways a deal could be structured. —There's no way you can buy bad if you have the right numbers. —Richard's ultimate strategy is simple: Look for houses with equity. —Is the Ultimate Strategy applicable for today's market? —Why you should over-disclose for transparency's sake.

Who doesn't love money? We're talking about raising private money with Josh Cantwell, who has raised over $60 million dollars in private money without having someone check his credit in over ten years. In seven steps, Josh lays out how you can raise capital for your real estate investments. Raising private money is not about pitching people. It's about teaching people about what you do in a cool way. Josh likes to tell people, “I raise private capital for real estate, and I buy distressed properties and pay my investors double digit fixed returns”. For him, this is far more effective than trying to sell potential investors on the idea of real estate investing. The relationship that you build with investors is incredibly important. For Josh, one investor took about 3 years before he finally invested with him. His number one rule for working with investors is: Follow up, follow up, follow up. A “no” today doesn't necessarily mean a “no” tomorrow. Josh uses the 2R-3M approach. That's “Regular Recurring Multi-Media Marketing”. For him, all of his marketing starts with a podcast interview, and then he sends it out across various marketing platforms. By putting himself out there and positioning himself as the authority, he doesn't have to keep answering the same question one hundred times. You don't need a big audience to raise capital. You need an irresistible offer, and you need to be authentic. Ask your investors, would you rather have 12% interest on the loan or 15% of the profit? Let them choose into your deals. But you are never going to be successful in raising capital from strangers if you can't convince someone you know to buy from you. Josh shares in his book, Get Flip System, some of the many ways you can have better conversations with potential investors. What's Inside: —Raising private money means you're doing deals on your terms, and not the bank's. —The question you need to ask so that investors will choose themselves to work with you. —All of your marketing doesn't matter if you don't have a way to let people opt-in to more information. —Leading with value means you're giving information out that is worth it to your audience. —Josh's strategy for winning the supply and demand game.

A lot has changed since Brandon Schwab introduced us to his senior boutique living portfolio. The pandemic has swept through large senior living facilities, and Brandon predicts that that will make retirees turn to these more intimate, clean, and personal homes instead. Brandon's most recent purchase is a 15 bed home on 43 acres in Illinois. He talks about the numbers in this deal, and he gives us a tour of the remodeled home at the end of the interview. The homes that Brandon is looking for have very specific criteria because they're serving a very small segment of the population. Ranch style homes, with most of the bedrooms on the main floor, are one of the minimum requirements. Just like any real estate deal, there is still room for creative financing. Many of these homes sit on the MLS for years, so the owners are more than happy to provide some kind of owner financing, or take an all cash offer. The current property Brandon is showing cost $750,000; with the remodeling budget, Brandon is all-in for $1.85 million. One of the special considerations for these properties is the operating costs. A key point of pride for Brandon is that every one of his caretakers works with only 5 residents, which increases the quality of care available. While the property is grossing $104,000 each month, he has expenses of about $50,000 a month. But his expenses include debt coverage, taxes, food, and all of the staff costs. Brandon likes to purchase a group of these houses in an area because it helps him reduce the operating costs. If you know of any homes in your area, he is paying a finder's fee for anyone who can bring him similar deals. What's Inside: —As a purpose-driven business, Brandon makes the bedrooms smaller for a reason. —Carry back financing or owner financing means Brandon can give the owner exactly what they want. —Brandon's guidelines for homes are very specific, but if you find a home like this, he'll pay a bird dog fee. —On the video, Brandon walks us through the current remodel of his newest home.

With a response rate of 0.5%, seller leads require a lot of energy to chase down. Rather than expending energy on finding seller leads, Justin Van Riper is laser-focused on finding buyers. This approach means he can keep his team lean, and hone in on an approach that consistently works for him. Not only is the response rate nearly ten times that of seller leads, but buyer leads will purchase more than one property from him. Instead of letting the buyer set the criteria, Justin flips that on its head and tells the buyer what he can provide. He looks for buyers who are purchasing in a like-market. And he prefers buyers who are already buying out of state because then he doesn't have to sell them on the concept. The more value you provide for your buyers, the more repeat business you'll do with them. Whether you choose to provide them with a list of local lenders, local contractors, or property management companies, the relationship you build with them will, in turn, bring you more businesses as they continue to invest in your area. How much information should you give your buyers about where your fee is coming from? I've had a buyer upset with me because the house was listed for less on Zillow than what I was selling it for. Justin stresses that honesty and transparency will serve you well in this. When the deal goes bad, and the rehab costs more than expected, Justin tries to give them good referrals to avoid that in the first place. Above all though, investors need to remember that there is a risk, just like any investment. If you're interested in buyer-first wholesaling, Justin's offering a free five-day course on his website that teaches these same principles he talked about today. What's Inside: —How Justin finds buyers and sellers, and why he prefers direct mail. —Sticking to smaller rehabs is a less risky strategy Justin recommends. —The benefits of double closing and then double closing on top of that. —As long as you have some sort of MLS access, you don't need a Realtor's license. —Transparency is key in the kind of deals Justin prefers.

Here's a little teaser of one of the things we'll be covering in our FREE, LIVE 5-day workshop: the 5 simple steps we go through to do deals virtually. Gavin and I talk about the basics of getting and closing deals without even physically seeing the property. —Market research – pick a market, look into your own backyard and don't ignore the small towns —Get a team – hire a virtual assistant, a local wholesaler and a realtor —Marketing – cold calling, finding tired landlords on Zillow, direct mailing —Evaluate deals and make offers – do not over-analyze the numbers then take too long to make an offer —Follow up – it's rare to close a deal on the first call; be prepared to make lots of follow up calls —Sell the contract (BONUS!) We go into the nitty-gritty details of these steps, explain them in-depth, and teach you how to utilize these basics in our FREE, LIVE 5-day “Virtual Profits Workshop” which starts June 1st. No payment information required. This is ABSOLUTELY FREE so SIGN UP NOW! Go to: https://www.virtualprofitsworkshop.com

Gavin and I have been making deals virtually successfully for years now and we both believe that if you don't need to physically walk into a property to close a deal, you can definitely be virtual. To date, Gavin and I are at about 60k in wholesaling profits. But before we were able to get to where we're making this much profit, we both had to go through major shifts in our businesses. We were both working long hours just to keep our businesses going until we went through 4 major shifts that changed the way our business ran. So, we asked ourselves these 4 major questions: —Why can't I wholesale lease option? —How can I control the volume of leads? —How can I do none of this? —If I can do this here, why can't I do it anywhere else? These 4 questions shifted the entire way we run our business and we're no longer working 12-15 hours a day. In fact, we make more deals by just working 2-3 hours a day while we're traveling. Want to know more about how we're doing and closing deals virtually? Join us on our FREE, LIVE 5-day “Virtual Profits Workshop” starting on June 1 st . Go to: https://www.virtualprofitsworkshop.com

Rumors are everywhere about how Covid-19 is affecting tenants and landlords. Laurence Jankelow sent out a survey to the tenants and landlords on his platform to get some hard data and numbers. Laurence runs Avail, a soup to nuts website that helps landlords and tenants pay rent, run background checks, report maintenance problems, and advertise vacancies. With over 10,000 responses to his survey, Laurence was able to get a good look at how tenants were dealing with the pandemic. One of the biggest surprises from Laurence's survey was the disconnect between what tenants were saying and what landlords believed was happening. His results were surprising, so Laurence encourages landlords to open a dialogue with tenants now before they get surprised in June and July. Half of all rentals in the U.S. are owned by mom and pop landlords, who are making a small amount of profit on their properties. Rent forbearance, rent forgiveness, and canceling rent would all have hugely negative consequences for these smaller landlords. Laurence and I talk about whether the government can actually stop the rents, and what that might mean for property owners. Is this a better time to sell properties or pick up more properties? Maintenance, showings, and iffy financials may force you to consider leaving the rental market. Laurence says that if you're in a situation where your investment property isn't putting money in your pocket anymore, then it's time to get out. Getting through Covid-19, we're all going to have to compromise. We're all going to come away with less than before, but tenants and landlords are in this together. What's Inside: —Lenders and tenants are not communicating with each other, Laurence's survey found. —Laurence's advice for landlords who are in this situation. —Rent collections for April and May versus the national average. —If you want to get out as a landlord, it may be a great time to do so. —No matter what happens, real estate will definitely recover.

Some of my favorite coaching clients that I've ever had talked to Gavin and me about how their business is going through the pandemic. Steve, a self-described technophobe, talks about the learning curve for using REI Simple, and how he and Coco work together as a team. Guys, this business isn't rocket science. You just get on the phone and talk to people. Steve's version for breaking the ice is a little unusual. He calls someone up and when they ask about his offer he says, “I've got a free coupon for a Subway sandwich, twelve inches. Whatever you want. Are you interested?” Then when they laugh, he can slide right in and have a great conversation with them. Coco and Steve make a great team because they each focus on the area they're good at. Steve talks to people and Coco makes sure everything is running smoothly on the back end. They work with a VA from the Philippines who keeps them on task. One of their favorite parts about our coaching programs is that we train their VA for them, so he's really able to support them with what they do best: make deals and follow up. Not even remotely interested in computer tasks, Steve is proof that with a little coaching and support, anyone at any age can learn some new skills. The possibilities of expansion into new markets and virtual deals keep him excited about their real estate business. Steve's enthusiasm for the work is contagious and fun, and we love working with them. If you'd be interested in some support during your real estate journey, contact Gavin and myself today to see if we'd be a good fit. What's Inside: —99% of Steve and Coco's deals come from follow up. —Steve likes to talk, but having easy phone conversations took some coaching from us. —How Coco uses REI Simple to keep the team on task. —Coco and Steve send their VA from the Philippines to our trainings.

Ester Telles makes our coaching job very, very easy. She does exactly what Gavin tells her to do, and her business is blowing up. This month she grossed $32,000, even during the shutdown. The dedication and grit she puts into this business is reaping dividends daily. Before coaching, Ester had been in this business for three years, but she wasn't even paying herself a profit. She talks about her pivotal conversation with Gavin, and some of the changes she's made to her business model to make herself more profitable. Because Ester already had a system in place, we wanted her to work with what she had, and focus on what she's good at. Ester's marketing is all cold calling absentee owners, and although she has two VAs making calls for her, she also makes a lot of calls herself. She says that you just need to have a conversation with them. She never focuses on the hard sell, and she wins over a lot of tired landlords that way. I love talking to tired landlords because they're easier than a homeowner. They understand that you're an investor and they get that this is a business transaction. When Ester met with Gavin, she was doing a little bit of this in El Paso, and a little bit of that in Alabama. It was splitting her focus. Gavin told her that if she wanted to dominate the market, then it didn't matter what everyone else was doing. She just needed to be the best at it. That's why cold calling and El Paso became her focus. Ester's network is huge. She's even got wholesalers bringing her deals because she's made herself THE person to talk to in El Paso if you want to buy or sell a house. If you want to do deals with Ester, you can contact her at (915) 320-6774. What's Inside: —This is a follow-up business. “No” means “Not now”. —Ester's in a niche market because she can speak Spanish and English. —Wholesalers are bringing their deals to Ester because of her network. —How paying herself first completely changed Ester's business. —Why you have to run a business to make money.

Over at Carrot, Trevor Mauch and his crew help high-level real estate investors control the conversation online and get more leads. He stops by today to talk about all of the different ways you can use content marketing to build your lead pipeline and increase your online authority. How relevant is SEO to your marketing? All of the marketing that you do right now creates online demand. The first thing people do when they get your marketing is fire up the search engines and check you out. Trevor says that it's your job to use your website to build your credibility, and he gives tons and tons of examples of how his clients are doing this. Every time someone visits your website, you need to answer these questions for them: —Do they have a solution that can solve my problem? —How does this thing work? —Who are they and are they credible? —How do we take action? Your website traffic may have seen a dip in conversions or traffic since March. Trevor shares the analytics from his client's websites to talk about the trends he's seeing, and how COVID-19 is impacting that. He suggests you address the pandemic head-on, and the steps you're using to help people through it. People need some assurance that you're still in business and taking steps to protect them. The absolutely last thing you want to do right now is turn off your marketing, says Trevor. The analytics support that demand is up and people are still searching for houses and real estate. If you cut off your marketing, you're drying up your leads pipeline, and in 30, 60, 90 days, you'll run out of leads entirely. You don't need to reinvent the wheel every time you create content. Trevor shares the ways you can create, share, and repurpose your content that increases the eyeballs on your web presence. No matter what marketing you choose, adjust your marketing to address COVID-19. Trevor throws out some different messaging ideas around this situation, and what that might look like. What's Inside: —Trevor's advice for how to set yourself apart from your competition. —Buyers and sellers are still looking online for solutions. —Organic search conversions are 3 to 4 times higher than paid search conversions. —Trevor demonstrates the customizability of Carrot websites. —Trevor's three simple videos for retargeting ads.

In 2018, we looked at all of the deals that we'd done, and out of 58 deals, 53 came from the follow-up. If you want to increase your conversion tactics, you need to be prepared to follow-up with old leads. Take some things off your plate by automating and delegating the work. I share all of my follow-up tactics, including how I use REI Simple and virtual assistants to help me with this work so that you can see how to make this work an essential part of your business. I'm in a lot of masterminds and I interview a lot of people on my podcast, and on average, you're going to get a deal after 3-4 months and six to seven touches. So who's going to be doing your follow-up? You've got to get someone to do it for you and in spite of you. It can be frustrating to come across an old lead and not know when the last time you contacted them was. I explain how a virtual assistant can help you solve this problem. Operate under the philosophy, No lead left behind! I make no secret about how much I love REI Simple, my white label CRM. But I love it because it does so many things for you. I walk you through how you can automate and delegate to REI Simple emails, direct mail, phone calls, texts, reminders, and really everything you need to stay on top of your old leads. In this FREE mind map I share: —Postcards you can start using today —Tear off letters that work for older generations —Cris Chico's sample offer —Calculators on how to make lease option offers —Auto-responders —And seriously, so much more Text the word FLIP to 313131, and we'll send this real estate resource to your email address. There are going to be so many opportunities for real estate investors in the coming market shift, so get your business automated and ready. What's Inside: —80-90% of your leads are going to come from the follow-up. —The only three things that your VA should be doing or you. —I don't like doing ringless voicemail, so I share some of the tools I'd recommend. —The exact script I use for contacting old leads.

Qualified, active buyers are going to become your new best friend, so I want to talk about strategies for finding your new BFFs. In-person networking, buyers' lists, websites, and Realtors are all going to help you in this transition. You need to dig your well before you're thirsty. If you're already thirsty and you need the cash, it's a lot harder to make that fast money. Don't wait too long to build your relationship with buyers. I share my current favorite way to find buyers right now, including the strategies I use to contact them in a kind, yet persistent, way. As you're building your buyers' list, don't be afraid to use your own cell phone. Don't be that hard-to-get guy that never returns phone calls. I can't tell you how many times we've had buyers tell us that we are the only people that answer our phones. Be a real person on the other line and edge out your competition. I'm going to hold nothing back in here. I provide you with all of the websites I used to find buyers, all of the places you can go to buy bandit signs, all of the networking opportunities you shouldn't miss, and so much more. Your marketing strategies will change with the market shift, but that's great news for you! Investors who aren't ready to shift will lose out when they find that their same old tactics don't work anymore. I'm still actively looking for deals, but I only purchase with my students. If you'd love to work with me, contact me to see if we'd be a good fit. And don't forget about my FREE mind map! What's Inside: —It's much easier to shop for what buyers want than to sell them what you have. —If you need proof of funds, you can always use your buyer's proof of funds. —Why packaging deals for your buyers will help you attract buyers. —My current favorite way to find buyers right now. —The questions you need to ask buyers to find out their criteria.

There are three things to be focused on in this market, and your ability to succeed through this market shift will rely on how well you can do these three things. I describe the huge variety of creative financial deals you can offer when you would choose to offer them, and I give you examples in real-time on how to figure out the offer. You need to learn how to make multiple offers. No more one-trick cash-only offers because they're not going to work anymore. When you find buyers, you'll need to offer solutions and creative financing for them. If you become that go-to creative financing guy, you can make nearly any deal work, as long as the seller realizes they'll have to choose between terms and price. Financing is going to be getting harder and harder as money dries up, so when I say creative financing, I mean: —Owner financing —Seller financing —Seller carry back —Rent-to-own —Lease purchase When you make an offer on a nicer property, I recommend a different strategy based on the MAO formula. MAO stands for the maximum allowable offer, and this formula has been around for a long time because it works. I walk you through how to figure out to offer for a nicer home. In my FREE mind map, I offer calculators so that you can calculate a price that still nets you enough income to make the deal worth your while. Now, after you text “FLIP” to 313131, you won't be able to make edits on this copy. So what you need to do is go to file, make a copy, and download this mind map so that you can make edits on your copy for your business. What's Inside: —The more options you can give a seller, the more deals you're going to make. —In this market, you need to be thinking about making a “quick nickel rather than a slow dime”. —The three options I like to give sellers. —Why I like Redfin data over Zillow, and how I use it in my calculations —Step-by-step instructions on how I figure out an offer.

Hey guys! If you've ever wanted to “watch Joe LIVE” doing marketing… then you're in for a treat. This Friday, May 15th, I am doing a Live Marketing Masterclass. This will be live, and I am going to pick a city and, from scratch, do some seller & buyer marketing. We'll be doing live calls, and showing you how you can do marketing, even during this pandemic. learn more at: livemarketingclass.com

Wealth doesn't disappear; it transfers. As the market changes, I want you to be prepared for where the wealth moves to. I've got some encouraging words for you today, but more importantly, I've got tons of ideas of how you can position yourself to be a part of these new opportunities. There are two very important rules you need to understand as we move into the opportunity phase of this crisis. One, time is your friend. And two, emotion is your enemy. Your mind will only find whatever you focus on, so focusing on fear won't help you see the opportunity. Emotional reactive decisions will kill your business, so you need to come up with a plan based on data and not drama. A lot of your competitors have pulled back on their marketing. I'm seeing a 30-40% reduction in ads on Facebook. People are scared and they're reacting to their emotions. But not you. You're going to: —Detach yourself from your own bias. —Invest and don't save at this very moment. —Grow your income as you work on your personal development. Instead of focusing on the negative parts of your life and asking why bad things are happening to you, focus on gratitude. Turning to gratitude will help you be able to see the opportunities that exist. We need leaders more than ever, so are you ready to step up and lead? I give away a ton of free content, and today is no exception. If you'd like a copy of this mind map for free, text the word “Flip” to 313131. What's Inside: —Every crisis comes with an equal amount of opportunity. —Fear drives short term decisions, and these decisions cause long-term problems. —How can you serve your customers better in this crisis? —As entrepreneurs, we are problem solvers, and there are new and exciting problems to solve every day. —Where I see the opportunities coming in the real estate market.

If there's one lesson former teachers Marlena and Josh Dates have learned about real estate investing, it's “Never pause your marketing!”. From Florida, Marlena and Josh have an eye on how Airbnbs are impacting the market, the best marketing for your dollars, and where the market is going because of COVID-19. Even if they have to borrow money from their parents, Josh and Marlena say they will always use direct mail marketing because it always gives back way more money than they put into it. Marlena says that you know what to expect from direct mail because you know the numbers, and it's a consistent, reliable form of marketing. The only drawback to direct mail marketing is when sellers get 15 different postcards. That's the time when Marlena and Josh double down on building a relationship with the seller. Because they know, as I do, that relationships are an important part of real estate strategy. What are hard money lenders doing? And are there still buyers and sellers in this market? As active real estate investors, Josh and Marlena have their finger on the pulse of Orange county and its surrounding areas. They share why sometimes lease options don't work for them, and in what kind of circumstances they lean on creative financing deals. The good thing about real estate is it doesn't drop overnight, so no matter what you see on the news, you'll be able to see well in advance if prices are going to stall. This advanced warning gives you time to adjust your offers and your marketing to keep doing deals. What's Inside: —Josh and Marlena moved from teacher into real estate full-time. —Virtual wholesaling allowed them to travel around Europe and still close real estate deals from their phones and laptops. —Follow up with old leads because fortune is in the follow-up. —How Josh and Marlena figure out an offer using Podio.

I love opening up the conversation to include our listeners because they always have such great stories and questions. You guys really make my job easy, so thank you for showing up with your concerns and comments. We talk about how to have natural, easy conversations with sellers, what to do if your deals keep falling through, and how creative financing will help you as this market shifts. Do you want to know how to make even more money on every deal you're making? The real secret is packaging deals together. This looks like putting together financing, contractors, property management companies, Realtors, and insurance companies all wrapped up in a tidy bow. Watch and see if you don't go from making $5,000 a deal to $10-15,000 every time. If you find a seller, and you can't come to terms on a price, that is the perfect time to offer an assignment lease option. Gavin's role plays with a student for how that conversation might sound, and gives tips on the best way to phrase this offer. I love doing these role plays with our students because it really gives everyone a chance to see common problems laid out. Closing on a deal isn't the final word on the deal. Communication throughout the entire process is part of the trust that you have to maintain with a seller so that there are no surprises for either of you. I know without a shadow of a doubt that no matter what happens in this market if you can sell deals with creative financing, you're going to do really well. And if you're interested in coaching, contact us to see if we'd be a good fit. We'd love to help you take your real estate business to the next level. What's Inside: —I explain the double-dip strategy that yields big returns. —If you can sell packaged deals with financing in place, you're going to crush it. —How to find buyers that will want to buy your packaged deals? —Gavin role-plays with a couple of callers to help them work through some current problems they're facing. —A caller wants to know if you can raise private money for lease-option deals.

Yes, the market's a little uncertain now, but there's still death, divorce, and inheritance problems. There are still tired landlords and people still need a place to live. And all of these situations create opportunities for us. You're just going to have to take this uncertainty and pause, plan, and pivot to take advantage of the changing landscape. As entrepreneurs, you should be used to changing your focus when you find that what you're doing isn't earning you enough money anymore. Mike shares about his shift into more quality work as things slow down in the DFW area. He reminds you to remember why you got into this in the first place. A slowdown is a great time to reflect what you should be doing differently. Take this time to improve your systems and processes. That's how you do what you do. Some of us say we're business owners, but what we really are is self-employed. Get out of your own way by creating systems and processes that help you operate your business. Mike uses Asana to track his team's work. We talk about the difference between systems and procedures, and why they'll free up your time. We talk about the different options we've used, and I share my trick for creating standard operating procedures that remove a ton of work off of my plate. Hint: I've even outsourced that too. Both Mike and I agree that small-time operators are going to stop dabbling in paid advertising. Do you want to move into the big-time? Do you want leads? Then you're going to have to spend some money to capture the leads those operators are leaving behind as they stop advertising. What's Inside: —When there's fear or uncertainty in a market, banks will naturally start pulling back. —How can you bulletproof your business for the next downturn? —Quality and price are your two main levers, and Mike gives advice on which to pull in this market. —There are too many unknowns right now to hang onto houses for that long. —Do not stop focusing on lead generation. Seriously, don't. —Scale your business so that you stop being the bottleneck in it.

One of the biggest reasons for having a website is to build trust with your audience. A nice website can communicate really quickly what your brand is and who you are. A janky website, on the other hand, sends the message that you don't really know what you're doing. If you don't have a beautiful website right now, don't worry. I talk with REI Conversion founder Jessey Kwong about how he builds solid websites for the REI world. If a seller or buyer lands on your site, how likely are they to convert? A huge, bright orange call to action button leaves no doubt what you want a visitor to do. Jessey warns that you should put your forms on your front page and stop hiding them on another page, or you can expect your conversions to plummet. A website doesn't have to be flashy to be effective. Whether or not you're optimized for SEO seems to be a hot topic, but what does that even mean? Jessey talks about the different parts about SEO. He builds his websites to be fast and secure, which is half of the SEO game. The other half is content, and that's going to be up to you. I personally prefer running ads to my website as a better marketing strategy, but there are pros and cons to both of these methods. Where is your time better spent? Building websites and writing code? Or making offers and talking to sellers? Focus on the $500/hour activities, and delegate the rest of the work to a company like REI Conversion. For my listeners, Jessey is offering a 10% discount; just click on the link in the show notes. What's Inside: —One of the biggest problems Jessey sees with websites. —Why you should stop using your slogan as your headline. —Automating your offers can help you find properties while you sleep, literally. —What problem are you solving for your website visitors? —Start asking, “Who can do the $5/hr. jobs for me?”.

One of the mistakes that people make is that they try to sell the lease option concept, but they lose every single time. Instead, you should start thinking about how it's all about positioning. In this coaching call, Gavin walks some of our students through the wall they keep running into as they talk to sellers. Positioning yourself as an investor when you talk to sellers should be the basis of all of your conversations. You are investors, even if you plan on using a lease option. Explaining to a seller what a lease option is right away can be overwhelming, especially if they've never worked with an investor before. As Gavin walks our students through what they're doing, you can see this really cool “Aha!” moment when they realize that they're assuming what the seller wants. It's easy to think you know what the seller wants, but when you approach a deal waiting to be sold on whether you should buy the house, you give the seller a chance to talk. While the seller is convincing you that you should buy their house, they're convincing themselves even more that they're ready to sell it, no matter what. They might be a tired landlord or an out-of-state homeowner, but either way, when they realize they have a chance to make some money, they'll get excited about an offer. Sometimes a sandwich lease option won't work for a situation, so Gavin shows our students how to transition from a sandwich lease option to an assignment lease option. When you work with coaches like Gavin or myself, we can help you figure out where your script needs some tweaking. Sometimes all you need is an outsider's view to help you see where you can improve. What's Inside: —One of the biggest mistakes made with the lease option concept. —How a coach can help you untangle one of your common problems. —How one offer can make another offer look better. —Don't assume you know what the seller wants; let him tell you. —The point where you should mention lease options (and it might surprise you!).

I started in real estate right before the crash, so I have to be honest and say that I made a lot of mistakes when I entered the real estate market. I'm embarrassed to say that I lost homes to short sales and foreclosures before I finally figured out what I was doing. And I learned that lease options in a down market work really, really well. The 3 things you need to be focusing on right now are making more lease option offers, making buyer offers, and following up with your old leads. Increase the amount of offers you get accepted by being flexible in your financing when you use lease options. There's a lot of power in being able to give the seller any price they want as long as they wait for it. I walk you through my philosophy and how I make my three main offers. In addition, in my Mind Map, I'm giving you a calculator for the three different kinds of offers: —Cash offer —Seller financing interest only —Seller financing principal only This free Mind Map will help you figure out how to handle this changing market. It'll include calculators, marketing tools, letters, and a lot of other things that will help you pivot and shift. When you get the link, you'll only have View privileges only. If you want to make changes, go to File and make a copy or download it and save it as an Excel spreadsheet. I walk you through how to find a rental house on Zillow to make an offer on. Remembering that you want 15 percent equity and 25 percent cash flow for the properties you're looking for, I run the numbers on a couple of houses to show you how to find a great deal. What's Inside: —You can give a seller any price they want as long as they wait for it. —Remember the sandwich lease option rules: cash now, cash flow, cash later. —I share examples of a cash offer, wholesaling lease option offer, and a sandwich lease option. —I walk you through how to use Zillow and Redfin to find rentals to buy. —Get my free Mind Map with the tools you need to make better offers.

The three keys to success are marketing, automation, and delegation. Using automation requires you to find the best tools to streamline your business, so I'm really excited today to talk about the automation that Howard Zonder has created with his Land Speed business. For new investors who are just getting into land investing, Howard and I talk about some different strategies for figuring out where to buy. Howard's had great success in Colorado and Utah, but you might be more interested in infill land. Infill land is smaller lots in a town or around a town in the “doughnut” area. Howard gives his thoughts on this as a long term strategy. If property taxes are really high, that may not be the best place to start your land investing journey. If property values are really high, or bureaucracy is common in that area, those also might be signs that that's not a great place to start. There are a lot of land investing courses out there that tend to focus on the same handful of counties. There are tens of thousands of counties across the U.S. where you can turn a profit. Howard and I talk about our criteria for where to look for empty lots. Constantly mailing in small batches creates some good business flow for Howard. He talks about how this strategy allows him to adjust bad offers or rely on data instead of blindly mailing out thousands of letters with no feedback. And because his software Land Speed Price Boss pools together all of its mailings, he can still save money on the bulk mail price. This attention to data is why Howard created Land Speed. Hard numbers don't give you a rough idea. Hard numbers give you solid data to make good business decisions, and to help you find the best place to invest in land. What's Inside: —Does tax assessed values play into land comps? —How I teach my boys to find comps for vacant lots. —Your offers are only as good as your data, and outliers will wreck that data. —Everyone figures out investor comps a little differently, and Howard walks me through how he comes up with his comps. —Break away from the land investor pack by investing in different counties.

We opened up our show today to you to answer the questions on your minds, and we had some really, really great questions that touched on where you're at, and how this market is doing. Gavin covered the basics, we talked about partnering with local Realtors, and we shared our favorite real estate tools. One of the top questions on everyone's mind is: Have prices started to drop? We'd love to give you a solid answer, but right now we have no idea what the market's going to do. The numbers we've been given show a delay in closings, but that's all so far. There are some things you can do to prepare, and Gavin talks about what they are. Don't get carried away by new and flashy real estate ideas. The basics have been and will always be: —Marketing —Talking to Sellers —Making Offers —Following Up Right now one of the most important things that you can be doing is building your buyers' list. Gavin shares a huge variety of ways to find buyers, starting with Realtors and going all the way through skip tracing buyers or chasing them down at meetups. Gavin's super simple marketing plan requires some pre-planning, but most of all it requires action from you. And we know there's a lot of information constantly coming at you. That's why you should write down and just do what he's telling you. Stick to the basics, listen to what the master of basics is laying out for you. In this current market, the normal sandwich lease options need to be looked at more closely. Gavin feels a little more comfortable with 25 percent instead of 15 percent, and he explains why he feels that way. I talk about some different scenarios you might find yourself in, and what I'd do. We also discuss some of the huge benefits for working with a Realtor. What's Inside: —How to reconnect with old leads and warm them up again. —Training a VA will free up your valuable time to make offers. —Success in this business comes from doing the simple, basic things. —Some ideas on how to tap into the distressed Airbnb market from me. —The three most important questions when you're looking for buyers. —Do you need an LLC to operate in other states for lease options?

I started in the wholesaling business when it just didn't seem like a great time to be moving into real estate. Gavin Timms started in real estate with literally zero experience. We both believe though, that real estate is always a great industry to be in. If you're short on money, but long on time, we have some solid pointers for how you can make money starting today. First of all, money is made on the phone, and sales is going to be a million dollar skill for you. You have got to learn how to talk to people. When Gavin first started out, he knew that he could get on the phone and talk to anyone. So by partnering with a wholesaler, he chased down her old leads and brought her some new deals. Get on the phone and call everybody you know in the business. Start networking and connecting with other wholesalers to see if you can follow up on their leads for them. Or, if it was just me, I'd make 50 phone calls a day, calling every broker, property manager, or landlord that I know. And I'd ask them two questions: —Are you looking to buy anything? —Are you looking to sell anything? Serious investors are still out there looking for good deals, so here's what you absolutely need to be doing. Fire up your buyer marketing. You need to start building a relationship with buyers. I share some of my best resources for finding buyers, including my favorite CRM. If you need a little help getting started, Gavin and I are offering virtual coaching. We want you to succeed, so we will set you up with the systems that we've had great success with. What's Inside: —The one skill you absolutely need, no matter the market you're in. —People do business with people they like, so build rapport. —The absolutely huge opportunity coming up with Airbnbs. —The many, many ways you can chase down buyers. —Become a broker, and how that can help you earn money today.

I am so excited about this side hustle opportunity from Lee Arnold of Capital Syndicate. I've never seen anything like it before, and the timing couldn't be more perfect. Lee is a private money lender based in Coeur d'Alene, Idaho, and because he doesn't rely on Wall Street money, he's not pulling back during this market upheaval. Instead, he's looking to invest in more secure, lucrative real estate deals. Lee has all of this private money and he wants to invest it, but he needs help finding deals. He's looking for a handful of people willing to go through his capital syndicate model to get educated on the types of borrowers and loans that work for his business model, and he's willing to pay a fee for this work. The biggest distinction that Lee wants you to understand is that he does not lend to owner-occupants or to individuals. He's looking for a specific kind of borrowing in a specific kind of circumstance. He offers investment-grade loans to LLC, or an S or a C Corp, and his program will explain clearly how to find the right kind of deals that he wants. This private money brokering used to be a lot more prevalent in the market, so it's nothing new. The beautiful thing about brokering, Lee says, is that it merely requires you to have access to capital. And he's got plenty of that. Taking Lee's Capital Syndicate program doesn't limit you to Lee's company. It teaches you to become an independent private money broker originator, and then you can work with hundreds of lenders across 40 states But make no mistake about it, Lee absolutely wants you to work with him, so he plans on offering the best competitive rates for your clients. Whether you're looking at just supplementing your income while you work on your real estate business, or this is something you want to pursue full-time, this is a great way to use your real estate network in a way that nobody else is. What's Inside: —Use the real estate networks you already have to start a new side hustle. —The absolute best markets to go into with private money brokering right now. —Who pays the fee for the loans, and how is that structured? —How you can get paid to broker your own deals.

The first thing to realize is that there are no answers. Now that we have that out of the way, let's focus on the things you can actually do to prepare your business to survive during this economic uncertainty. I talk with Jason Medley from Collective Genius, one of the best real estate masterminds in the country, about the advice he gives to all of his investors. It's like we're a bike that's shifting gears, and right now the gears are grinding and haven't caught yet. They're making a terrible sound, and everything feels uncertain, and we're waiting for them to catch so that we can take off again. We're in the gap right now. Everything in real estate is paused or waiting. Buyers are pulling out, trying to sit out for a better deal. Sellers don't want to admit that they can't make as much money now as they could a few months ago. And you can't buy. We're all just waiting for everything to catch and go together again so we can shift into a different gear. While you're waiting for the gears of the economy to catch, Jason says you need to: —Manage your costs and expenses. —Manage your liquidity and cash. —Communicate at a level you've never communicated at before. —Be planning and stabilizing the ship. Jason explains the profit-first model of revenue minus profit equals expenses, and how it makes a difference for a business during lean times. The PNL statement is going to be your key in helping you make some of those tough decisions coming at you. Jason walks through what that might look like for you. The virus is not the problem. The virus is only revealing the problems in your business that have been neglected prior to its showing. What's Inside: —Scaling responsibly will turn your business into a cash cow. —How money and liquidity aren't the same, but still both matter for your profitability. —Why you absolutely have to have a PNL, and utilize it. —Going through and figuring out what you need to let go before you need to do it will free up a lot of your mental headspace. —Why now is the absolute worst time to quit your mastermind.

Forward thinking Cris Chico from Virtual Wholesaling knows how to look ahead and predict where things might end up because he's already been down this road before in the last market upheaval. Cris is an expert in using Facebook ads to find seller leads, so he talks about where he sees online marketing heading as the real estate market changes. Picking a market isn't as simple as pulling out a map and pointing to a part of the country that you think would provide steady returns. Cris shares his leads strategy that decides for him where his next market should be. If you're ready to get started on Facebook advertising, because it's the easiest platform to start with online advertising, start with a Facebook business page that makes you look like a real person, and not a robot. Cris shares how he targets his audience, and I was completely surprised since it's the opposite approach I thought he'd take. How sellers want to communicate in the online world is totally different. They might prefer the entire exchange over text message or email, and you need to follow their lead to keep that relationship casual enough that they're not turned off by your pushiness. Cris's Public Service Announcement: We all have to contribute to keeping the wheels of real estate moving forward. For Cris, this means keeping Realtors and brokers included in transactions and possibly making less money on each deal. As the market changes, so will the amount of money that everybody can make. But there's still plenty of deals to find. Sellers who might've ignored you a few months ago are ready and aware that they're in a different position now. Contact your leads and make some offers. What's Inside: —The trigger that changed the Miami market in ‘06, and what that means for today. —How Cris Chico creates targeted audiences in his Facebook ads. —The three things everyone should learn how to do to thrive in this economy. —The key to creating a memorable website name. —The best image to use for your Facebook ads, and how to make that image pop.

Check out the 5 Sellers A Day Accountability Group @ https://www.5sellersaday.com/join-challenge

An indisputable law of business is that the more revenue you make, the less profit in terms of net margin you're going to make. It's not what you make, it's what you keep. Alex Pardo from The Flip Empire podcast and I talk about how to shift and scale business as we navigate the shift in today's market. Do you know those checks on social media showing someone's profit from their latest deal? They're fake. They don't tell the whole story, and Alex has discovered like I have, that a bigger business doesn't always mean more money. It also means more overhead, more pressure, and more time away from your family. So using the Gino Wickman book Traction, and an EOS implementer, he redesigned his business to fit his purpose and his life. We're coming out of a seller's market and going into a buyer's market. Alex describes how the smaller teams he's downsized to is pivoting to this new market, and what marketing is working for him. To him, it seems like the hottest marketing trend quickly becomes old, so shifting back to the classics works better for him. He's going old-school a little bit with bandit signs, postcards, and he's even considering newspaper ads. But he's still focused on building those relationships because follow-ups and personal contacts are still key for him. If you're looking for a high level mastermind/coaching group, he's started one up to fill the void he felt was in mastermind groups. He's doing some pretty awesome work with missions trips to Guatemala to help others, and he's still got a few spots left. What's Inside: —Scaling your business with a lack of focus in your organization is a recipe for disaster. —Have a vision for your personal life and then design your business around that. —Transparency and vulnerability is going to be the new currency in 2020. —The marketing that's working for Alex as we move to a buyer's market. —Alex's racey bandit sign that pulls in more deals than you'd think.

If you're a collector of courses, then what you need is this 30-day challenge group in your life. Gavin Timms and I have done this before and it was hugely successful for our previous coaching students, so we wanted to offer it up at a time when everyone has a lot more time on their hands. Starting April 13th, jump in with us and start making offers. Gavin and I are going to be teaching you, with simple, easy scripts, how to make offers on the phone. We're going to teach you marketing tactics that work. Gavin and I even role play a couple of scripts to show you how easy this can be. We're going to be teaching you the fastest way to get leads, using cold calling and SMS texting. We're not going to overcomplicate this with VAs and fancy, complicated triple dialers, although you can use those things if you want. The challenge group will offer daily support the first week, and then coaching calls three times a week after that. Plus, you'll have access to a private Facebook group where you can show up with your offers and lean on us for support all month long. We don't want to complicate this because we are challenging you to make five offers a day. So in this challenge, we're going to teach the easy way to make offers so that you can make more of them more often. And here's the thing. If you get a deal under contract, we'll partner with you on it, or help you find a buyer. We want you to succeed, and this group is going to give you the support you need to stop taking courses and start making deals. And if you complete everything in the course, you'll get your money back. There's only winning in our 30-day challenge group. What's Inside: —Our 30-day challenge group is designed to help you make real progress in real estate while everything is shut down. —We don't care about perfection, we care about progress. —This challenge will put in a structure to your day that will give you some momentum. —Find out how to complete the group challenge and earn your money back. —All the support you need in the accountability group, including goals, weekly zoom calls, and tons of help on your offers. —Super simple scripts to help you start conversations with sellers and Realtors.

I've said it before and I'm going to keep saying it: There are only opportunities around you right now. Take some time to reconfigure your real estate dreams and start making some money. Sean Terry from Flip2Freedom has shifted over to remote wholesaling over the last 20-30 months, and he has some awesome advice for how he's reworked his business to adjust for this change. Surprisingly, Sean and I are both seeing old leads bubbling up from months ago as sellers feel a lot more motivation to sell and regain some liquidity. But Sean warns that you have to structure in the COVID-19 pricing, which means offering just a little bit less than what was offered even 90 days ago. Maybe you've heard me talk about my success in small towns, but you're a little nervous that you're going to get stuck holding the house in a market that doesn't move. And I get it. But both Sean and I have only had success in these hot little real estate markets. Even in this mess, with everything closed down and everyone working from home, Sean can still do deals virtually. By using the ultimate close question and walking the seller through the process over the phone, Sean is still closing deals and making money all over the country. Moving to virtual wholesaling is the perfect answer to the uncertainty that's in the market right now, so if you need some help with a script or getting a system in place, Sean's set up a course right now called Remote Millions that can help you transition over to virtual work. And he knows a lot of you might be struggling, so he's offering 50% off the price now. You're still going to be able to do business remotely, and that's one of the true beauties of real estate. So if you need a little help getting started, I highly recommend working with Sean. What's Inside: —Massive buyers like Redfin and Zillow are pulling out of markets like Phoenix, so Sean's seen a huge surge of leads while his marketing costs remain the same. —Sean has one of the absolute best ways to find sellers and buyers for small towns. —How Sean's phone system lets his team work virtually, but still stay connected. —Marketing that currently works for Sean, and if he plans on changing it.