With About Ten Hours Of Work On My First Deal I Made $5,000
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 – Kevin McKee – Mundelein, Illinois
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With About Ten Hours Of Work On My First Deal I Made $5,000
Kevin: Kevin McKee and from Mundelein, Illinois. I’ve been following Joe for a few years prior, but I’ve known of Joe for about the last five years.
Kevin: What really drew me into this specific program is I’ve always been interested in real estate investing and I invested prior to knowing about Joe, but found his methods to be very useful and low stress. It allowed you to not have to negotiate price so much on purchases and really create a win-win opportunity for buyer, seller and myself.
Kevin: The way I started is I followed Joe online for some time watching some of his videos. I eventually did make the leap to join the mentor group. So, I joined the mentor group and got involved, utilized the Automarketer and began that process to the point where I eventually began to put together real estate deals. My first one probably took me about six months after joining the mentor program. I’ve closed on, you know, a number of deals at that point in time. I have gotten to the point where I’m looking to go back into it. I got busy with work, had a sick mother-in-law, so I had life issues kind of come up, including work, that prevented me from being able to work with it. Now, thinking about, thinking about the profit potential within the lease option program makes me realize at this point in time that I want to go back to it and begin the pro- in the sense of restart and get the business really fully up and running again.
Kevin: My first deal was a couple had a rental, they had a rental property that they were looking to sell. So, they’re getting close to retirement and wanted to sell the property. So they tried to sell it with a real estate agent, I think they had it with a real estate agent for about six months. But they also then tried to lower the price and sell it for sale by owner.
Kevin: So, I contacted, through the Automarketer, they contacted me and I proposed the lease option solution to them. So, took a little bit of convincing but worked out terms that were favorable to them. Found a couple, a young family that was interested in the house and so put together a good win-win solution for everybody. The couple ended up buying the house about two-and-a-half years later. Everybody was very pleased. The couple that had been trying to sell their home for so long, they were able to get a top market value for the home. This young family starting up, they had a little bit of credit issues at the beginning, were able to get into a home and eventually purchase it. It really was a great win-win deal for all involved. And that made a lease option payment of about five thousand dollars.
Kevin: Total time spent on that deal was about ten hours. So, with about ten hours’ work on that deal I made five thousand dollars. So a rate of five hundred dollars an hour. So, there isn’t many side gigs or businesses that you can get into where you can make that kind of a return on your time. So, that’s what’s leading me back into reestablishing the business and I look forward to it and knowing that Joe is always there for questions and support I couldn’t ask for more.
Kevin: The best deal I’ve ever made was let’s, a deal where I helped a single mom, single mom with four kids get into a rent to own home. So, again, a little credit challenged, and just giving her the opportunity to you know, to have the accomplish home ownership was a great feeling. And let’s see, that one probably took about, probably about fourteen hours to put together.
Kevin: So the process involved in that particular deal was a gentleman was looking to sell off his lake home. So he had a lake home. He was looking to liquidate that, you know, heading toward retirement. He had had renters. He was looking to sell it, but I would say the house was no in, it wasn’t in perfect condition. So he would have had to do a lot of rehabbing it and fixing, a lot of expenditures to be able to bring it up to a market level.
Kevin: So, being able to get a rent to own buyer in there, sometimes the folks are not as picky as a cash purchaser where everything has to be fixed, everything has to be perfect. It’s a great opportunity to sell homes that are, you know, without putting a lot of work into it and still getting top dollar for the home.
Kevin: Average income is about five thousand dollars per deal. So, you know, I expect my deals to come in at that rate or possibly higher now that I’ve learned some new strategies. Today even about getting notes for additional down payment. So I hope to increase that amount per deal.
Kevin: The biggest key to consistency is utilizing the Automarketer on a regular basis. So, taking consistent persistent action so that you’re doing it, you’re working the leads every week, you’re generating new leads. You’re getting more and more homes under contract. Really, just carving out the time in your schedule to do it and to take, you know, those steps necessary to put the deals together.
Kevin: My personal goals in this business would be to create a full time income with part time work. So, I looked at, my goal is to, you know, work well into the six figure income with part time hours. The impact of Joe’s program, you know, out of my life is really being able to have many of the extras in life. After putting together one deal that was money to be able to take the family to Orlando for a large vacation. So, just the ability to create some large chunks of money, to be able to really enjoy yourself, do some of those fun things you always wanted to do, whether it be a cruise or a family vacation or maybe a home repair. Some of the extra things that you’d like to do in your life.
Kevin: You can make a strong six figure income with just working part time. So that can free up your time to do other things that you’d like to do. Joe’s automation is really the key to really move forward in the business and really multiply your results. Being able to use the Automarketer is, has magnified my results and is really the key to that consistent, consistent lead generation that leads to, leads to deals being sold.
Kevin: What I would recommend if somebody is very serious about real estate investing would be to join Joe’s mentor program. You get at least six months or more where you’re being held by the hand to go through all of the steps that are necessary to close your first deal. So find a good mentor. I’ve been around real estate investing for, you know, a number of years – a lot of my life – and Joe is absolutely, Joe Crump is absolutely the best.
Kevin: The value that you receive and the support, it’s really anyone’s best option. Get involved with Joe and you’ll be glad you did.
Kevin: A couple things that are important that come to mind to me is the idea of you have to be able to take no for an answer and go forward. You have to keep learning from every failure or thing that goes wrong. You’ll make missteps along the way, but the winners in this business are the people that can learn from mistakes and learn and move forward, you know, not being bogged down if they made a mistake or did something wrong. But to learn the right way to do things. Joe’s mentorship gives you that opportunity to learn how to do things the right way and gives you the support on an ongoing basis. So, you have to be diligent, you’ve got to be able to push forward. You have to be self-motivated. But finding a mentor will save you a lot of time and aggravation in the process of becoming a real estate investor.