Case Studies From The Mentor Program – Part Four of Four
My 6 month mentor program:
A few Case Study Video Interviews with my Students:
Read Transcript for “Case Studies From The Mentor Program – Part Four of Four”
Jim: One of the guys on my team whose name is Hatch, by the way, is out of Tennessee. It took Hatch a little while to get his first deals together, and what I mean by a little while is not very long, so we’re talking about 5 weeks maybe. So Hatch put his first deal together.
Jim: Usually with the team people, the difference in them making it and being successful is usually the little stuff. It’s not the big stuff – that’s the thing – it’s usually little stuff. It’s usually the marketing that you’re doing. It’s usually how you’re talking to somebody or how you’re approaching something. It’s usually something very minor. Once you get the concept, the difference between making it and not making it is usually very small.
Jim: I love the Hatch story. It took Hatch a little while to get the marketing down and get some of the stuff down, but in Hatch’s first deal, he put $10,000 in his pocket – on his first deal that he ever did, and that was just great. I probably have 100 stories like that of people who put their first deals together.
Jim: One of my favorite students and my favorite team people is Wendy Batta, who’s out of South Carolina. She’s been with me for a long time. Wendy initially did very well and then started to try and do stuff in other ways and broke off and kind of went in her own direction, then came back. She asked me, ‘What should I do?’ And I said, ‘I’d like you to get back and start from the beginning again.’
Jim: I just had this great phone call with Wendy. 3 or 4 weeks ago, Wendy was having a really time with life. With money again, she had kind of gotten away from what we’re doing. And when she came back and started again, I got the best phone call ever, and again that’s why I love the team. Wendy got on the phone, and I said, ‘How are you doing?’ Wendy closed 5 deals in 5 days and had made $4,000 on every one of those deals. And so Wendy’s life went (it wasn’t a week because there was buildup to it) but in a couple of weeks, she went from being difficult to being joyous and having time and money. And that was the best thing in the world. That made me so happy to see her back up. I mean, five deals in 5 days at $4,000 a piece – that’s pretty incredible stuff. It really is. I dare anybody else to come up with those kinds of figures; that kind of success.
Jim: And it’s because of the program that Joe teaches – it’s all ben based on knowledge, sharing it and helping people, and that makes the difference to everybody. That’s why he invented the Team Leader Program and that’s why I’m most proud of it – because it’s helped so many people.
Jim: I dare say the most important thing that’s come into real estate investing has been the For Rent Method. The reason is, and this is what I’ve come to – this is why I have made it as my business model and this is why it’s so important and this is why our program is better than everybody else’s – it allows us to consistently make money. It allows us to very easily pick up houses. I can pick up houses just like I did that first day. I can pick them up very easily.
Jim: Having a list of a couple thousand buyers, having a big list of buyers, which, here’s the thing – everything is kind of this building block, and any good business is like that. And so, the For Rent Method did this incredible thing and it gave the students and it gave me this great foundation to start with. It makes it very easy for us to put houses (I call it putting them on the board). It makes it very easy for us to pick up houses and pick up deals, which, then because of the way that we market, makes it very easy and cheap for us to bring in buyers and build a great big list of those. And that makes it even easier for us to pick up houses and that makes it even easier for us to pick up buyers. The automation allows us to be able to do that. So, all of this becomes a building block. And what it gives that no other program has ever touched, and this is the thing that I think has been most incredible, is that it allows us to consistently make money easily.
Jim: The For Rent Method, I’ve always said, is not the thing that’s going to make you rich. It’s not the thing that’s going to make you an absolute zillion dollars, but it’s the foundation of the business that allows you remain consistent, it allows you to bring in money, and it allows you to do it consistently, which allows all of the other stuff. It allows you to build up houses that you own and that you keep and that you make lots of money on. It allows you to build it up. So it doesn’t just explode. Anything that goes upwardly fast comes down really fast, too. So especially in this market, I’ve watched all of these people that thought they had a really great idea come crashing down and they lost everything and stuff. So, what we’ve created is this absolutely consistent business where we can continue to help people, we can continue to very easily pick up houses and to very easily pick up buyers. The For Rent Method – I can’t even stress the importance of the For Rent Method because it made this foundation that made the rest of that business doable, and lets it be consistent.
Jim: My business runs now on autopilot because of the For Rent Method. It’s easy for me to bring houses in now. I mean, I understand that I’ve been doing it for a while longer but I hardly ever pick up the phone to even go find a house any more. My phone rings and people give them to me because I have a reputation for moving houses, because everyone knows I’ve got a couple thousand buyers and because I make stuff happen. And that’s because I built a good foundation. And that is the thing that I think everybody else – I think that every other investment class or whatever is missing. I don’t even mind saying that because I think it’s true – that they don’t have something that allows people to make money consistently and do it in a fair way.
Jim: Not only am I able to do that consistently and so are my people, but Wendy will be able to do that because now she’s built her houses up so she’ll be able to move a couple of houses a week for the rest of the year or as long as she wants to. That’ll allow her to find really good deals and that’ll allow her to find really good buyers. What she’s got is the foundation of an incredible business and that all comes from the For Rent Method. So I can’t even stress how important all of that stuff is. Its mind blowingly important and I can’t even quite tell you just that one thing – how much of a change it’s made in my life and how important it is to my life and to all of the people that I work with’s lives. Its major stuff; major stuff…