Automating My Business And Bringing In Consistant Income With Less Effort
My 6 month mentor program:
A few Case Study Video Interviews with my Students:
Automating My Business And Bringing In Consistant Income With Less Effort
Brad: My name’s Brad Pickett and I’m from Burley, Idaho. I’ve always been interested in real estate. I see it as the vehicle for achieving the freedom that I want in my life. Rather than working a 9 to 5 I want to be able to go where I want to go when I want to go and be free. I was always interested in real estate and I believe that having a system is a great thing and it was just, I believe I found Joe through a Google search and was kind of looking for a way to systemize my business and also to have a mentor. So, that’s when I looked up Joe. You know, it’s been exactly a year, a year and a week since I found Joe and signed up originally.
Brad: My first deal once I started with Joe was right away. I talked about this previously, but it was just a trailer house that I found and I believe I made about $15,000 on it so it was a great deal. Probably about six hours I would guess. Not very much, so what’s the hourly rate for that? It’s pretty good.
Brad: We’re working on a large rehab which has been, it’ll be a great deal when it’s done because it’s been a $70,000 rehab and we brought the property for $100,000 and put $70,000 into it and it’s going to be worth about $250,000 and I believe my partner and I are just going to keep that property, amortize it over a 15-year term and it’s got some good interest rates on it, so we’re going to amortize that and hold onto it and hopefully at the end of the of the fifteen years maybe it’s going to be worth say $350,000 and we’ll own it free and clear. So, I like doing those types of deals and holding on to them because you get the tax write off, you get the depreciation, you get the monthly cash flow and when I get ready to retire, you know, in twenty years or whenever it is I’ll have those properties free and clear and that’s really valuable, I mean, to have, if you can do that on one property and that’s $350,000 you know, you just times that by twenty or whatever you want to make and you’ll have that money available to retire. Of course there’ll be some bumps in the road, but that’s the plan.
Brad: You know, I’ve had a pretty good streak of $10,000, I just had two $10,000 deals. So that’s probably about my average. I’d say it’s probably around $7,500, $7,000. I’m doing a lot of lease options and I’m still doing the for rent method and making probably on average $5,000 per deal on that and then I’m also doing, I’m buying some properties, owner carry, and then turn around and financing those with a lease option or a long term lease, getting down payments there, too, so, doing some different stuff. The whole idea here is to, the reason I like doing the long term contracts on my current rentals is that way I don’t have to do the maintenance on the properties and it just kind of creates a stream of income without the maintenance.
Brad: I am, yeah. We’re starting to have closings every month. Obviously my goal is to get more going. We’re, the Automarketer is working great. We’ve just started using the new follow-up system. I’ve had people, since we talked last, I’ve had people just going straight to my websites and entering their information which is great. I mean, if someone just goes to the website and puts in their information on there it’s usually a pretty easy deal. They definitely need your help. The marketing just keeps getting better. Decided to try the new CRM software that Joe has coming out. And we’re just working towards systemizing this. I think the main reason I really like Joe’s system, that it stood out to me, was he’s got the same goals I do. I mean, I do this to be free. I do this to spend, so that I don’t have to spend my time working. I can spend my time doing things that I enjoy, you know, hanging out with friends and family, traveling, outdoor activities. I do this to be free and Joe’s system is just that system that allows you to basically turn it on and walk away from it and come back and you know, you’ll have deals there.
Brad: You do still have to know how to close and you do have to kind of work on your skills and know what you’re talking about and be able to help people, but it automates it and as we try to increase our business we need that automation to grow because you have to be automated to get to the level where I want to be. I mean, you cannot have that many loose ends running around you know, so, in order, but that’s what we’re focused on now is getting our systems in place, eventually hiring some people to talk to our buyers and eventually to talk to our sellers. Getting the CRM software in place so that we have a good follow-up system and really when I started out, it was kind of a hobby.
Brad: You know, oh, this is a cool hobby, I really appreciate real estate, it’s a cool hobby, you can make money. Now it’s kind of turning into a business where you know, I have to treat it like a business. I have to invest in it. I have to put time in it. I have to facilitate the systems and to reach the goals that I want I really have to focus on getting it systemized. There’s a lot of details in that and that’s kind of what we’re working on now. We figured out how to do the deals. We’ve got that down. We have our strategies. We know how we can help people. And now we just need to know how we can turn up the volume and you know, get to the goals that we set.
Brad: I’d like to be you know, it’s going to sound crazy, I’d like to be at $100,000 a month in income and eventually $200 million net worth. And I know people thing that’s crazy, but that’s my goal and I believe in setting them high. You know, what happens if I fall a little bit short of that? No big deal, you know. Set your goals high and think big. There’s actually a book about that. And that’s why I set those goals so high and I just, that’s where I want to be. I don’t know if I’ll, how long it’ll take me to get there, or anything, but that’s where I’m going.
Brad: It’s been great, I mean, just having extra cash to do the things you want. I have a, I’m a firefighter and I really enjoy that job and it does provide a stable income, but now I have discretionary funds to, I’m going to Costa Rica for two weeks. I get to travel more. I get to invest in real estate. I’m actually building a retirement that is above and beyond my retirement from the fire department, so it’s given me freedom, it’s given me long term stability financially. And it’s fun, I mean, you meet cool people that have the same lifestyle and that are going the same direction. I’m a very ambitious person and I like to be around those type of people that you know, creating their own future and have life by design. So that’s what I like.
Brad: Yeah, we just started, like I said, with the follow-up system that sends, automatically sends messages out to people that have their homes for sale. And it does it automatically now so you know, I just come to my computer and there’s a ton of leads there. Actually, I just looked at my text blaster leads. There’s over 300 in there and I’ve gotten to the point where I’m rarely even calling those back. I’m calling the ones back that either go to my website or call in and leave a voice mail. And I have more deals to work than I can handle, so it’s you know, the marketing is taken care of by the Automarketer. Now it’s just a matter of doing all the work that comes from getting the deals and getting them put together, you know. And just like anything, it’s kind of a you know, a funnel, I think of it as a big funnel, you know, you’ve got a hundred leads and then all of a sudden it turns into one deal. So you have to do all that work in between and that’s where we’re focused. The Automarketer takes care of the front end of the business as far as bringing the deals in.
Brad: I’d say in this day and age anything is possible. You can get online and find all the information that you need to become anything you want in life. I just don’t believe in excuses. I think that people need to think about what they’re passionate about and go after it and be happy. I see, all too often I see people stuck in dead end jobs that they don’t like and I just believe that if you truly have the ambition you can design your own life. And you can do things that make you happy and I think that’s what life’s all about. So, I would say if you want it bad enough, you can have it. And with Joe’s system, it’s just one of the tools I use to create my life and my life keeps getting better and it’s going to keep getting better. I’m not even close to where I want to be yet and as I get better at this it’s just a consistent growth.
Brad: We were just talking in the conference just a second ago, it’s not like you ever arrive. As you develop yourself you continue to get better and better and better but then you keep raising the bar so it’s all about personal development and getting the rewards from it. So what you put in you get back. That being said, you can’t just expect to buy the product and get rich. It’s not like that. You have to know what you’re doing, you have to put the time in, you have to make the phone calls. And you have to genuinely care about the people that you’re helping and you have to help them. And the more people that you can help, the more money that you can make.