What I Did To Make $5,500, 35 Days After I Started
Here is a new Case Study Video from one of my mentor students. It is titled, “What I Did To Make $5,500, 35 Days After I Started”
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 Mike, 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 just be a bunch of people telling you how wonderful Joe Crump was. I wanted content, examples and real life experiences.
I hope we succeeded.
My 6 month mentor program:
A few Case Study Video Interviews with my Students:
Read Transcript for “What I Did To Make $5,500, 35 Days After I Started“
David: My name is David Shihadeh and I’m from Indianapolis, Indiana. I got some email from him somehow. I was attracted to what he offers and how I knew him. How long it took me to get the first deal when I first did that through Joe – I think it took me about 35 to 40 days and I made about $5,500 on that deal. Basically, his system is really very simple to use if you follow it. I have experience before I joined Joe. I had done deals, I had bought properties. I had more experience than the average guy does, so I was doing a lot of buy and holding and rehabbing, too.
David: It didn’t take that long because what I did was – his “For Rent Method” was more for just putting a sign out there and talking to people, so I would say maybe it took me a total of 15 hours.
David: Well, I got a couple of for sale deals that I was able to get really quick from my marketing, where I made like $12,000 on small properties. It was an expensive one. It was just – I took over, paid taxes and I sold it to a wholesaler really quick and that basically took me maybe 2 hours and I made about $12,000 on that deal. Those are really nice deals because they don’t take too long. I like those deals. I’m going to do it more often.
David: I don’t want to say this is happening all the time, but the average deal takes a lot more hours. Unless you’re working in a higher area. Now, there are deals that I did that made $15,000 or $20,000 that took a bit more time. And the area here in Indianapolis is really not as high as Los Angeles, Orange County or New York. The houses are valued a lot less here, so as a result you make a little less money, but still, it’s a very high return on investment.
David: The average may be $10,000 but I look at it differently. I believe in buy and hold because I think that’s a good way to make money. Buy and hold – where you get like 20-35% return on your money so in three to four years, you get all of your money back and then the property you own 100% free and clear for the rest of your life, so the return in that aspect is infinite because once you get your money back, then you have the property and it’s all profit. I like those deals better in a way.
David: I’ve been more focused on doing the rehabbing and renting. But I’m doing more now wholesale as well so I probably average about $5,000-$10,000 on wholesale.
David: Well, you can always get better. I have to admit, sometimes you get so busy with certain things and you don’t really focus on it. I’m one of those guys who can say I have ADD – I’m not really totally focused on some deals, so I drop deals sometimes that actually have money – somebody else might be able to make them work.
David: My goal is to help people who need some help and get them what they want. For example, somebody has a house and they’re going to go through a foreclosure or they’re going to ruin their credit – I’d love to be able to help them to not go through that pain and save their credit and be able to help them out, so that’s really my goal. And also teach people how to be able to take advantage of the opportunity people have right now in real estate, and its tremendous!
David: Now I do this full time. I’ve been doing real estate for a long time. So I don’t think anybody would hire me, so I’ve been doing this for a long time.
David: Pretty much, Joe’s software is really very interesting. I don’t even have it right now. Once I had it before, I got so many leads that I didn’t know what to do with them. I had a marketing company. I didn’t really have enough time. What I didn’t do is I did not do what Joe said about having people do the calls for me and that’s one thing I’m here for because I really did not relegate my work to other people and that’s kind of why I stopped doing the program. And now, Joe has I guess updated it to where you can get help by having somebody else do the work for you. That’s what I want to do because I don’t have time to do all of my assignments.
David: Just follow through with Joe’s program. Just follow his program. Joe’s program shows you that you don’t really have to have any money. You have to do the legwork, either. I have to tell you – it’s not going to be just some guru’s – and I know Joe doesn’t say that – but some gurus say, ‘Once you join, you’re going to start making hundreds of thousands of dollars’ – that’s not true – you have to do the work. So I would say that if you follow the program – Joe does mention in his program that you’ll make money. It’s going to work. Things are going to happen to you really quick and without working, you’re just dreaming – that’s not going to happen. That’s my view anyway and my experience as well.
David: I would recommend anyone to Joe’s program highly. In fact, I talked to a few of my friends about it and when I do my speaking to people, I tell them, ‘I have somebody that I know, a mentor of mine, who has the perfect program for you to start with,’ so I’m trying to actually work with Joe on giving him some clients because he has a system that I don’t have, and I figure the best way to do it is by working with your mentor and I recommend his system – because it works! It simply works. And so, I’ll be constantly recommending Joe’s program because he’s constantly working on upgrading it. Even today, he’s got something new. So he’s always working on how he can make it easier for real estate investors to make money with less work and to lessen your work and focus on your business. So I like it very much. In fact, I’m going to sign up again for the new Automarketer, too.