Do You Teach Any Methods Other Than Lease Options?
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Do You Teach Any Methods Other Than Lease Options?
Joe: Hey, it’s Joe. Another question here. “I’m interested in wholesaling subject to land contracts, working with people who are in foreclosure, absentee owners, expired listings, ugly houses, commercial properties, buying and selling notes, working with private money and hard money, and about a dozen other methods. Why do you only teach lease options?”
Joe: Well, I don’t teach just lease options. I teach all the zero down structures. I do suggest, and by the way, there’s different structures and then there’s different types of leads. So, make sure you separate what is a structure and what is a lead. Absentee owners is a type of lead. You know, the expired listing, that’s a type of lead. People that are in default. That’s a type of lead. Doing subject to, doing land contract, doing lease option, doing multi mortgage doing wholesaling, assignable cash deals. Those are structures. And what we do is learn how to match the structure that we need with the type of lead that we have. So no matter what the lead is and what that lead needs, we have a structure that we can offer that’ll make us money.
Joe: Remember, as an investor, there’s only two ways that you make money. One is by buying property for cash, at substantially under market value, or, two, or you can assign that cash deal, or two, making it, buying a property on terms at or below market value. So those are the two ways that we can make money as an investor. So we’re always looking for those types of deals.
Joe: I start everybody with the lease option process of flipping lease options. I call it the for rent method because we talk to people who have their house for rent. That was our original lead source and then we moved on to start selling also to people that are for sale by owner. So we’ll call them up, we’ll ask them will you sell your property rent to buy rather than selling it outright?
Joe: And if they say yes, then we tie up that property with a lease option memo, don’t use any cash, we just become a principal in the transaction using a document. That makes it legal for us to go around and turn around and sell that property and take the down payment for ourselves, and the first month rent goes to the seller. So we make a profit, we raise the price a little bit, we make a profit on the deal. And there’s ways that we can optimize that profit and make more or less, depending on the way we structure it and how we talk to our sellers. So that’s the, a big part of what I teach in my programs. That’s a lot of what we’ve been talking about on these videos that I’ve been sending out to you.
Joe: Now there’s other ways that you can do this. I love expired listings. I love absentee owners. Those can be great. We don’t necessarily go after those in the Automarketer, although we do have a module for absentee owners in the system so that if you can upload a list of addresses, names and addresses, our system can go in, it can find the phone numbers for those people and then it can do a voice blast to those absentee owners and typically the system can find anywhere from 10% to 40% of the people that you upload as far as their phone numbers go. It just goes into a white pages, scrapes and finds those numbers and then you can do that text blast or voice blast to those people.
Joe: Typically we do voice blasts to that group because most of the phone numbers that the system finds are land lines rather than text lines. But if you have phone numbers that you can upload, you can also upload phone numbers directly, and you can do blasts to those. So, if you have a list of people that are in default that you want to contact and see if they’ll do deals with you, or if you want to do short sales, God knows why you want to do short sales. Short sales are a pain in the butt. But I do know that there’s a lot of people that have made a lot of money doing short sales. They’re just a lot of work and you’ve got to deal with lenders and I don’t enjoy dealing with lenders because they can’t make decisions very quickly and I like to make money quickly without spending a lot of time and effort, and you know, waiting for them to, you know, jumping through their hoops. Instead I want to be in control of those deals, and the types of deals that I teach put you in control.
Joe: And if you’re in control then you can manage the process and you can systematize the process better. It’s hard to systematize doing these short sale deals because you don’t know what the bank is going to say. I’m in the middle of a short sale deal right now that I’m buying. I’m buying a property for cash and we put an offer in which has been going on about six months now. We’re waiting for them to say yes, and they keep coming back and forth and I keep saying, no, I’m not going to go up any more. And then they go back, go away for a month, and then they come back, would you do this, would you do this? No, I won’t do that. They go away for a month and then they come back. And you know, so it just keeps going back and forth. And eventually, you know, maybe we’ll get the property maybe we won’t. I don’t know. You know, it’s a good property and I want it for a few different reasons other than just money, but, you know, when you’re dealing with banks, that’s the kind of mentality that they have. When you’re dealing with a seller who’s ready to do something right now, it’s a lot easier to work with them and that’s why you want to focus on one or two things.
Joe: Also, when you’re building your business it’s kind of like the plate spinner at the circus, you know, where he’s got a stick and he puts a plate on there and he spins that thing and he’s balancing it. He’s got one of these things and he finally gets it going. And then once he gets that going, then he’ll put the next one on and he’ll spin that one and he’ll get that one going. And then once that’s going he’ll get the next one and the next one and suddenly he’s got all these plates that he’s going with and he’s spinning all these plates and it’s happening all at once. That’s what your business needs to be. You need to get one thing going at a time. Do one thing at a time. Focus on one thing. Don’t try to do everything all at once.
Joe: I teach a lot of different techniques, and by the time you come through my mentor program you’ve gone through a master’s training course in all the different techniques that are available. But, I’m going to focus you during that program on one specific technique to learn it so that you can make money as quickly as possible. Once you make that money then we start expanding on that. And I’m going to give you all the information up front. And some people are going to do it faster than others.
Joe: You know, you don’t have to wait for me, you know, to week number seven before you get this information. You know, I’m going to give it to you all at once. But, you may not have time to do it. If you only have eight to ten hours a week to do it, it’s going to take a little bit longer for you to get up and running and you need to focus on one thing that you know is going to make you the money fastest. If you have forty hours a week, or eighty hours a week, you know, then you can do it faster and you can spend more time learning and that’s helpful, too. But it’s not necessary. And I would suggest that it might be better for you to keep your job, you know, keep you income, make sure you’ve got stability and do this eight to ten hours a week.
Joe: And I’ve had so many people that have come through my program and just put in that eight to ten hours a week and been successful with it. I guarantee that if you come through this program, and you do the work and you follow through with the stuff that I teach you, the way I teach you, that you will make money. But I also guarantee if you come in and you don’t do that work, if you don’t follow through, if you don’t do the things that I teach, then you won’t make a dime. So, that’s why it’s so important, whether you’re working with me in my program or whether you’re just trying to do it outside the program because maybe you don’t have enough money to spend on the mentor program right now. There’s so many good training programs that I’ve got on my blog here and if you go into the Automarketer there’s good training in there. On Amazon I’ve got books for $3.00 – Automated Real Estate Investing – on Amazon that you can get that makes it easy for you to do it.
Joe: So, those are the things that I teach and why I teach them. There is a method behind my madness, and there is a method, a reason for me to teach in the process and the method and the order and the way that I teach. Because I’ve been doing this for a long time and I know what people are able to do and what they’re able to accomplish and what they need to hold my hand, you know, so I can drag them along through this process.
Joe: All right – I hope that helps.