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Read Transcript for “A Multi-Million Dollar Internet Marketer Seeks Passive Investing Income”
Tim: My name’s Tim Erway. I’m from Melbourne, Florida. I’ve never really done anything with real estate before. I’m an internet marketer and met Joe at some internet marketing events and we became friends many years ago. This is actually my first go at real estate investing. I’m learning the specifics of how to invest in real estate. I got started in my own business 9 or 10 years ago. I met Joe about 8 years ago and since that time, I’ve met a lot of his students that I’ve done some pretty powerful things in real estate investing. I’ve seen a lot of success stories come. I’ve been watching the results of his students over the years as they progressed and invested in real estate and I’ve been very impressed with what he’s been able to do. And so that’s actually why I’m here now. As I’m watching more and more people becoming successful with real estate, it’s something that I’ve wanted to learn for a long time and I certainly want to master it and there’s one guy that I trust in this industry – and that’s Joe crump. He’s been doing this a long, long time. He’s got integrity and authenticity and phases that into everything he does. So I really respect that.
Tim: The financials that I’ve set for myself are pretty simple. I do very well right now in my internet marketing businesses so I really enjoy the lifestyle that I live right now. However, its active income, in other words, it takes my time for me to make the income that I do. A lot of that is changing now but, really, building wealth is my biggest goal right now in passive income. So that’s what I’m really looking to do with Joe’s program, is to learn how to take some of the active income that I’m making and translate that into assets that bring me passive income.
Tim: That’s the interesting thing. When we first start in business or any kind of business, you’re pretty much the only person and you’re working your tail off to really make things happen and it’s up to you to get that momentum going. What I’ve found and what’s been my experience is that as business starts to grow and as success starts to come, there comes a time when you have to take a lot of the responsibility and a lot of the burdens and the things that take up your time and kind of move them onto other people’s plates. And that’s when you really have to understand – the value of your time and what the most valuable things are that you can be doing for your business. What I’ve found in my companies is that everything that doesn’t go into that really high value stuff you have to outsource or hire people to do for you. There’s several levels to that. When you’re just starting out, maybe you have a personal assistant and then you’ve got some little things that you need to do, for instance, in real estate, posting signs – is that the highest return on investment, going out and posting signs? Probably not – you can probably get someone to go out and do that for 5 dollars an hour. So that’s kind of the same thing. In internet business and pretty much any business, there comes a time when you have to understand the importance and value of your time.
Tim: It wouldn’t be worth my while if I wasn’t making at least 6 figures so I expect that it’ll be six figures easily in the first year. I make multiple six figures right now as a salary for my internet company (it’s a multimillion dollar internet company). So for me to really focus on something for the next two years, it would have to be something that would be equal to or better than what I’m making now.
Tim: My goals as a real estate investor are the same as they are in life – increasing the quality of my own life but also, I live by something – a personal value, and that is – how can I add value to the lives of others? And that’s something that I truly believe in. Interestingly enough, as I’m sitting here listening to Joe talk about providing solutions to people that have problems, and it’s a very powerful way to be and live – helping people and providing value and solutions to people. So that’s really my goal – improving my own life and my own situation but also helping other people improve their lives and their situations. And I think the best way to do that is through personal growth and the understanding that with other people that are in the world, you have a chance and an opportunity to help them, and if you can do something to add value to their lives, then you should be doing that.
Tim: I don’t intend to quit my other businesses. I have done pretty much what Joe talks about with my other businesses as far as automating a lot of that. I may hire a CEO to run one of my companies or an operating head to kind of run the day to day. I’m more excited about real estate investing right now and the opportunity that we have today, in this market even, to build lasting wealth in real estate, than I am about internet marketing simply because it’s new – I mean, it’s something that I’ve been passionate about for a very long time. So I’m just glad to be able to have the opportunity now to work with Joe.
Tim: My goals for real estate investing are very simple. Obviously there’s a lot to learn here. But the way that Joe presents it is really great because it allows you to start at the very beginning with the very simple methods that bring cash right now with the for-rent method. I really like that – I think it’s great and I think it’s necessary to learn that. But for me, the thing I’m most excited about is the long term wealth offers that he teaches you how to put together later. Actually, through this whole buying event, he’s going to go through the entire gambit of all of these deals and all the structures of these kinds of deals. In just the short amount of time that I’ve been in here, I’ve had a bird’s eye view or a big picture view of what they all look like, which I did not before I came here. So it was great to be able to just sit down and have Joe present the hierarchy of these deals and how they can all work together; e.g. when it makes most sense to be able to put one type of deal into place versus another type of deal. I had that understanding just in the first hour of being here – which is great – that, again, in just the first hour of being here, I had a much better understanding of what all of these deal structures look like. I theoretically had a view of what they looked like before I got here, but I didn’t understand where to match things up. In other words, you have somebody who’s a seller and you have somebody who’s a buyer – how do you match that up and how do you put the appropriate deal together that makes sense for both the seller and the buyer? I’ve got a good understanding of what that looks like now and really protecting the seller and protecting the buyer – just in the first hour. So that’s really the big takeaway thus far.