Bren-Stimpson-2

I Made $20,000 On a Single Deal

 

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I believe the best way to learn the business of real estate investing is to hear how others have done it. When these interviews were recorded, I asked the interviewer to ask questions that would help the viewer see how these folks got started.

I wanted to hear the struggles, the successes and a clear path and explanation of what they had to do to make these deals happen. I did NOT want them to be a bunch of people telling you how wonderful Joe Crump was. I wanted content, examples and real life experiences.

I hope we succeeded.

Case Study – Bren Stimpson – Kanab, UT

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I Made $20,000 On a Single Deal

Bren: My name is Bren Stimpson. I am from Kanab, Utah. I heard initially about the program because I’ve known Joe for about twenty-five years. Had a newsletter from him. I had never come out to the mentor program, but I’d had his newsletter and had followed him for quite some time. Joe and I had something in common. We had the same mentor when it came to marketing. That was a gentleman by the name of Jay Brown. And so that’s how I kind of met Joe and got into his business and was excited about it.

Bren: The best deal I’ve ever done was over, well, I’ve been actually in the mentor program for just under six months and I have done four deals in that time frame. My best deal I made $20,000. And it was someone that was motivated to sell and was willing to do terms with me and more to the point a lease option. So, went through the lease option memo, and found a willing buyer that could bank qualify. And it was really quite simple. Just follow the process with things that I’d been taught through Joe. And got a $20,000 fee. Non-refundable deposit. And the seller was extremely excited about the whole program and so that’s the best deal I’ve ever done.

Bren: Realistically, I’d have to say about five hours. It took about five hours to put that deal together. On average, I’d say between five and ten thousand would be, yeah, the average I make on each deal. On my first deal it took me realistically about six hours, I think, of actual work once I got into it, to put it all together. And that was typically through the negotiation process with them, back and forth. I didn’t have a tenant buyer in place but I did have some referrals and knew that there were some people looking for a house. So, I’d say five to six hours.

Bren: I’ll walk you through my first deal. I have had a few people that have wanted to buy homes as I’ve got into the program. And people knew that I was in real estate and I was an investor. And I got a referral from one of the people that I had already got into a home. And so I went through the process with that referral who could not bank qualify. Had a great job, the opportunity to get into a home. Well, I found a, was also by that same person referred to one of his friends that was not only was friends, but he knew a landlord that was very, very disgruntled and just wanted to get out.

Bren: And so I approached him with the for rent method and he said, yeah, I’d like to do that. And it’s, so, I had a buyer ready to go, like I said, that had a great job and had a deposit. And a $5,000, actually it was $5,500 is what it amount to. And we simply put together the deal. That was my first deal. And the process was very, very simple. And I just simply followed Joe’s instructions on how to put that together and everything flowed.

Bren: This year I’m on track to make about $250,000. I’ve done four deals, you know, in the last six months and they’ve netted me about $65,000. $65,000 is where I’m at now. And so, yeah, I’ve got some work to do to reach that goal, but I have two large deals that I’m working on right now. And they’re both going to net me about $40,000 each. So, yeah. I’m on track. You know, as I get more proficient with the marketing and that process, and get more polished I’m finding that it’s much easier to do the deals. And that’s the key, I think, is understanding those processes and making sure that you are intelligent and have the right answers for those that are in the game. The seller and the buyers.

Bren: In learning the process and refining those processes, you have to continue to practice and I would say that that’s the best way that I’ve been able to learn. And you get better as you do it more and more. It’s interesting how many different questions you’re asked and how many different angles people come at you when they’re trying to sell their house and I would have to say that one of the main things that helped me in that process was really trying to listen and to understand the seller’s motivation. So, that was key for me. First of all, learning the processes and refining them through practice. Secondly, really, really listening and understanding the seller and their motivation. And again, I started also building my buyers list through that process which made it easy for me to meld the two together, the seller and the buyer. So, I would say refining the processes through practice and just simply following the steps that Joe has outlined through the programs.

Bren: I have a goal that I would like to refine my processes and, my marketing process, to reach out. I would like to make, I would like to net in a five-year period $10 million. I would like to have a $10 million portfolio and a net worth of $10 million in a five-year period. That’s my five-year plan.

Bren: I think probably the biggest thing that he has given me, and is giving me, is freedom to do and understand, to do what I love to do, which is real estate investing. But one of the major benefits of that and how that’s not only helped my family is that I can feel good about what I’m doing and the people that I help makes this really, really easy. As we’ve learned, close to 80% of the country cannot typically bank qualify for a home. And when you make it possible for someone to buy a home which they never thought they’d be able to qualify for, at least in the foreseeable future, and you explain that to them.

Bren: You take them by the hand and you show them specifically how they can do that, even if they have to work a little bit to do that and to save or to prepare, you lay out a path for them. And it makes it very, very simple and it changes lives. So, that’s probably the accommodation of that, the being able to have the freedom, but before that you’re able to help people. Those are the bonuses – not only the money, but just what you’re able to do and accomplish with people that cannot get into homes or buy properties conventionally. So, that’s really satisfying.

Bren: What I really want to pull out of these seminars is really how to get those phones ringing, coming to us, callers wanting, as Joe puts it, and, literally begging us to buy their homes and to do the things that we tell them to do. That’s what I want to pull out of this seminar. That’s what attracted me to it because it’s straight forward, it’s directly what I think most investors really, I mean, that’s the key. What they really, really hopefully want through their marketing efforts is for those calls to come in to them based on good marketing.

Bren: Refine the automation process that Joe has given through the Automarketer I think is what is going to actually be doing that and allowing us to do that. And so I want to refine that process and learn that process so that we’re getting those calls instead of, you know, having so much of, having to make the calls. Understand the process is, it takes time. Especially as you start. But I really want to see that to where we’re direct, shooting an arrow or a bullet to those individuals as opposed to spreading it out through everybody knowing who those people are, finding out the motivation that they have. But I want them to call us through that process, through the Automarketer. And I really want to learn how to do that and refine the marketing.

Bren: I do it full time. The thing that made it most appealing for me is the freedom and the ability to make as much money as I wanted to make without any ceiling on your earnings. And when you have a plan and an opportunity to put that plan in action and you do the work and you’re promised that if you do you’ll make the money, because it’s been refined over years and years through Joe and through his mentorship, it’s very, very satisfying. I think if we had to recreate the wheel or we had to take bits and pieces from a lot of different people. And there’s a lot of so-called gurus out there that are teaching different things.

Bren: But the difference is is understanding it and being able to apply those principles and that’s the most fulfilling thing to me is being able to have a solid plan and be able to articulate that not only to the sellers and those and being able to help them but the residual income that you receive, you know, it’s, there’s no cap on what you can do. Like I said earlier, 80% of the people that are out there cannot bank qualify and need help. And there’s a lot of people that are distressed and have problems, too, in selling their properties.

Bren: But the difference is is understanding it and being able to apply those principles and that’s the most fulfilling thing to me is being able to have a solid plan and be able to articulate that not only to the sellers and those and being able to help them but the residual income that you receive, you know, it’s, there’s no cap on what you can do. Like I said earlier, 80% of the people that are out there cannot bank qualify and need help. And there’s a lot of people that are distressed and have problems, too, in selling their properties.

Bren: If I was giving the advice to anybody coming into the business and I have had a few people that have approached me and said how do you do what you do? I would say, you need to find a solid mentor. You need to find someone that has been there, that has the experience, that has done it and is an active investor today. Not just a teacher, but an active investor. And learn from him. Have a solid business plan in play, know exactly what you are going to do, and again, you get that through your mentorship. But I would say, again, find a solid good mentor and I’ve certainly found that with Joe.

Bren: And I’ll continue to learn from him. And I learn something new every time I either receive his newsletters or you know, just through coming to these events.
I enjoy the freedom that I’m able to do and not having a cap on what I can do and create with this business income-wise. And so it’s freedom, it’s the income, but even more importantly than that, it’s being able to put together deals that allow all those who are involved, the buyer and the seller, and myself to come out on top. And we’re solution providers. And so it’s very fulfilling. It’s just the best of all worlds when it comes to all those three areas.

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