My First Deal I Made $5K
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 – Armond Wright – Toledo, Ohio
Watching Armond grow his business over the next few years has been amazing. He still works his regular job as an engineer, but is on track to make a six figure income working part time as an investor. I also love what he has to say about bringing his daughter into the business.
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My First Deal I Made $5K
Armond: My name is Armond Wright. I’m from Toledo, Ohio. I originally heard about Joe from a YouTube, just surfing YouTube and found a couple of his videos and decided to give him a call. I had some properties that I was looking to wholesale and throughout the conversation he mentioned to me the For Rent Method. And I was quite interested in the For Rent Method. And based off the information, the conversation, I decided to get involved with his program.
Armond: For Rent Method is just another way of saying assignable lease option deals. So, for example, you find a property, put it under contract, then you assign it over and that’s what we call the For Rent Method. I think any time where you can help a seller sell their house relatively quickly, then you help a buyer who traditionally couldn’t buy a home, it’s always a good situation. So I really can’t highlight what would be the best deal. Of course, I can highlight that I made the most money off of, but just the happiness that you see in the sellers and the buyers when the transaction comes together it’s just a wonderful feeling.
Armond: One particular deal was a Viet Nam veteran and he was looking to relocate from Indiana to Florida and he had a house where he couldn’t sell. And I was able to sell that house within three weeks and then the guy was so happy, I mean, he started, almost started tearing up on the video, and that was kind of a shocker and he just thanked me, just, you know, over and over again. Just a wonderful feeling to help people out and it’s just a wonderful feeling to see the happy and the joy within the buyers and sellers, it’s pretty awesome.
Armond: Well, this year I’m on track to have the best year. Let’s just say it looks like it’s going to be six digits this year. It’s going along pretty well. And that’s without adding any improvements that I’m looking to add relatively soon, like, within the next few days. Starting tomorrow, I’m going to bring on another additional person. I have one person that works for me now, well, actually, a VA service and one person that works for me now. I’m looking to add another VA and then just kind of take an analysis of the situation once I bring the other person on and then just strategically add more people to help expand the business.
Armond: What is a VA service? The VA stands for “virtual assistant.” Basically, someone that works for you that’s not in your area, so that’s the reason why you call them virtual. So, virtual assistant.
Armond: My first deal I made $5,000 on it. Doesn’t take that long for you to actually do a deal, if you actually follow the instructions and do what you’re supposed to do. You know, life gets in the way, creativity gets in the way and once I got around to doing it, it didn’t take long at all. My goals is to help expand the business, bring on more people, add more automation. I do some teaching and I want to grow that because I’m pretty passionate about the business. And just ultimately one of my main goals, is one of my main focus, I wrote down some goals actually yesterday, is to help people. And that’s one of the things I want to come across is always want to come across as to help someone. Whether you’re monetizing it or not, because I’ve got enough skill level where I can, you know, I can drum up the money, but I think at the end of the day it’s all about helping people.
Armond: And I really appreciate you know, Joe helping me by him putting all this together. I mean, this business really changed my life and I share with my kids and my youngest daughter seemed like she’s grasped ahold of it the most, but I just, at the end of the day, I just want to help as many people as I possibly can.
Armond: Automation, for me, is utilizing Automarketer as well as bringing on people to handle a lot of the work load. The Automarketer helps you get leads from craigslist. That’s what I mainly use it for, craigslist. But if a person was in a position where they can’t afford the Automarketer, you can obviously do it manually. But the Automarketer’s just tool that’s to help make your job a little easier. For me, personally, I have pretty high goals as far as financial goals and the reason being, you know, you have, I feel you have more money, more people you can help, but you can, you have choices of how you want to live. Like, say for example, if a person wanted to live like, a leisurely life style, mainly do deals and kind of relax, you can do that. Or if a person wanted to go out here and try to make as you know, much money as you possibly can, I mean, you’ve got a vehicle that can make money relatively – shouldn’t use the word “easily” – but, you can make money relatively without using a lot of your time.
Armond: So you can really maximize that by doubling down and putting more time into the business to really you know, maximize the amount of money that you can make using these strategies as well as have other vehicles where you can make money as well. All that combined, I mean, you can have a really amazing life style.
Armond: It’s where you look at things just quite differently. Like, I commented on my youngest daughter, I’m pretty proud of her. She puts together deals and helps me out. And for her, it’s just, by her being so young, she started, she did her first deal when she was fourteen. Now she’s seventeen, so her future is bright, I mean, as far as work the business part time, or full time, and you know, go to college. I mean, her future is really, really bright. So I’m just, that’s, you know, without this, or without this knowledge, you know, that wouldn’t be there. So that’s just a beautiful thing and then as far as me, personally, just the way I go about doing the business as far as with the lease options, land contracts, just, it’s just better, more, a more secure, safer way of doing real estate investing.
Armond: Well, my current situation, I work this full time and the economy right now is doing really well and my background degree, my background is in engineering. I have an MBA, and what they call a Six Sigma black belt. So, currently, I do this full time. And I also work a job. So, like I said, you’re making like, a double income plus you have like, rental you know, rental properties. It’s just, it’s really a special situation. And then adding on, and another thing, it’s like, you know, I’m working for money but another thing, too, for me, when I work this just full time, that automation piece doesn’t really get there and I just haven’t put all the pieces together, so by holding down a job, it’s kind of forcing me to automate and run the business because the time is not there. So, it’s like an experiment, but I’m getting paid pretty good to do through it.
Armond: One piece that I have automated is handling of the buyers. I have kind of like, a buyer finder. And that person takes the calls, helps coordinate the showings of the properties. So I have the buyer side automated. And then also I utilize the Automarketer as far as getting seller leads so that’s like, a program, so that part’s a given. That’s automated. And as well as the direct mail campaigns. I have a virtual assistant that takes the first shot as far as interviewing the sellers and extracting information from them for, as of right now, for me to follow up on.
Armond: One thing I would, advice I can give, just, you know, don’t give up. I mean, it’s anything worth having is not easy to obtain. So, I just, you know, don’t give up. Work the business diligently. Set goals, so, you know, set reasonable, what we call it’s like, a smart goal where smart, specific, measurable, attainable. Make it realistic and time bound. So say, for example, I’m going to make fifty calls this week. That’ll be your goal for this week, so how are we going to make fifty calls this week? So break that down to a daily goal and then from daily, you know, what hours in the day are we making those calls? And then track your performance.
Armond: And either you hit the goal or not, you know? And then from there, once you, say you’re making fifty calls, increase that. And just track your performance and constantly continue learning the business. Like, say, you know, I learned a great deal from Joe, but also I learned bits and pieces from other people but by far Joe’s material is the best and how I can say that, and continually say, because I’ve looked at other peoples’ material and it doesn’t even compare.
Armond: The advice I would give for a new person, and that’s really the meat of this, because mostly the people probably watching the video are new folks. I would say don’t give up. Just get involved and work the business and diligently work the business. Meaning that, you’re supposed to make the phone calls, make your phone calls, talk to the sellers, and just keep going, keep working the business and it works. It’s a good system. The system is, in my opinion, Joe’s system is the best. And if you work the business you will see the benefits. And then once you start having some small wins, you can you know, tweak different things and to expand your performance.
Armond: But the main thing is just, you know, don’t give up and just keep working the business.