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Read Transcript for “Do You Do Buying Events In Other Cities?”
“Thanks for taking these questions. #1: Do you plan on doing some sessions in different cities?” – Awens Alfons
Joe: No. I only do my Buying Event in Indianapolis. I used to do them in a couple of different places, e.g. I did Florida, I did Las Vegas, and I did California, etc. I don’t like to travel for work – I travel for fun. So I do everything here in Indianapolis now 15 minutes from my house. All the buying events are done close by.
Joe: So I would encourage you to come. I’ve got people that have come from Australia or Europe or Canada, all over the country to travel here to spend the weekend with us and do this stuff. And if for some reason, you can’t travel, or you’re homebound or whatever, that’s okay, too – we do this stuff over the internet, we do it over the phone on conference calls – you can learn that way from us as well.
Joe: And the second part of his question is,
“Do I need money to start investing successfully?”
Joe: No, you don’t. if you use the techniques that I’m giving you, you don’t need any money for down and you don’t need any credit. If you have a telephone and an internet connection, that’s really all you need in order to start doing the For Rent Method. if you don’t know how to do the For Rent Method, you can buy my book on Amazon for $2.99 called “Automated Real Estate Investing” and it’ll take you through the process of the For Rent Method. The Push Button Automarketer also has that in there – that’s $199 a month. My mentor program is like paying for college – it’s more expensive – but you get my personal help with that and I can walk you through that process as well.
Joe: So if you want training, you have to pay a little bit for your training, but as far as buying the properties themselves, you don’t need any money for that.
Joe: Most people, when they get started in real estate investing, think that the way to make money is to go out and buy a property for under market value, fix it up, and turn around and flip it and you make some more money. That’s a good tried and true method, but there’s a lot of risk inherent in it, and also there’s a ceiling because there’s only so many loans you can get. Fannie Mae will allow you to get 10 different loans, and once you get that amount of loans, they’re going to stop. Plus, you need down payments for each one of those loans, and you have to have perfect credit, and you have to be able to make the payments on them, so you can’t do them simultaneously.
Joe: So, most of the rehab people that I know either have a ton of cash to work with and a lot of experience so they don’t lose that cash, or, they just do one or two or three or four or five a year to be able to get through this process.
Joe: So my suggestion to you is – they say you need money to make money – my feeling is that “If you can’t make money with no money, you sure aren’t going to be able to make money with money.” It’s easier to buy a property if you have cash or you go out and get a loan. Then you can just go to the MLS and anybody will sell you a property because you can cash them out. But, it’s not easier to make money just because you can get a loan. So don’t think that being able to buy a property is where you make money. You make money in the way you put the deal together and exiting that process – having a good exit strategy that makes you money. So that’s what you need to look at.
Joe: Most beginning investors get bogged down in the idea that, ‘First I’m going to buy this property. Then, I’m going to figure out how to sell it and make money.’ Or they don’t buy it with enough equity in it, or it costs them too much to fix it up, and on and on and on. I’m sure many of you have already experienced these things. Alright, I hope that answers the question. Thanks, now.