My 6 month mentor program:
A few Case Study Video Interviews with my Students:
“Firefighter Buys 14 Houses in About 6 Months That Are Worth About 2 Million Dollars”
Brad: Brad Picket from Burley, Idaho. You know, I’m not even sure. I think I found it on the Internet. It’s been quite a while ago. It was almost a year ago now, so, I think was just searching the internet and ran into Joe’s name. Yeah, I try to do research and find out different things. Some of the stuff I was reading mentioned I needed a mentor and I think I might have been searching, looking for a mentor and Joe’s name came up.
Brad: I think I, it was right away. I have a little bit of experience in real estate, so that probably helped me, but part of making that initial investment with Joe’s push button method, I think that kind of got me using the phone more and, you know, just actually motivated me to get on the phone and I closed deals right away.
Brad: Let’s see, my very first deal was actually a trailer park, or, not a trailer park, a trailer house. And I bought it subject to for $7,000 and turned around and sold it for $22,000 in two weeks. So I made $15,000 on my first deal. >>That’s amazing.<< And I think only had $1,000 into it because I think the note was like six grand and then I gave him a thousand bucks and he wanted out so bad and so he got what he wanted and I got what I wanted and someone got a new place. So, it worked out good. That deal, probably I don’t know, maybe ten to fifteen hours. Not very much.
Brad: That was a good deal, but that was, of all the deals I’ve closed, since, you know, I’ve done a lot before this, before working with Joe, too, but of all the deals I’ve closed, that was the only one that I actually flipped and sold. Everything else I’ve held. So the assets that I’m accumulating now for my portfolio will be there for me in the future in a really big way. I mean, if I can hold onto my portfolio for twenty years, it’ll make me a millionaire several times over, whereas I’m not really making a bunch of money on it up front. But it makes more sense to hold onto them for me.
Brad: Again, my deals are a little different because I’m doing more of a subject to purchase and holding onto them on term and less of the for rent method. I’m getting into the for rent method now. So usually I’m getting houses for close to zero down, so every now and then I have to pay a little bit of money, so really I’m not making money up front. I’m holding and building my portfolio. It’s just kind of a different strategy, but, the fact that I can buy, I think I bought fourteen houses, I mean, I have bought fourteen houses, and I think it cost me under $25,000 to do all that. So, that’s pretty good. It costs me money, but the overall investment picture in the end, it looks really good.
Brad: I am, yeah. I’ve done really well, and then I bought a duplex and rehabbed that and I’m working on rehabbing that and that has slowed me down. I’ve talked to Joe about that. I don’t, as soon as I started working on that rehab I wasn’t able to fill my pipeline as well so I had to, that kind of slowed me down, but the point is, is don’t do your own rehabs and just manage them and keep working. I’m really good on the phone and that’s where I need to focus so I can sell and close deals, and if I get sidetracked into doing things like rehabs then it kind of freezes up my pipeline.
Brad: I want to be free. I want to have a house in Boise and a house in Scottsdale and I want to have an airplane. I think that’s going to be, it sounds crazy, but I want a net worth of around $200 million and I think that’s going to be probably close to, I don’t know, a thousand homes, but right now, my immediate goal is two hundred homes. I think that’s probably doable in five years and probably even quicker than that. But who knows? If I get to that point, I may start switching into multi-family or I may find other ways that I can do things, but right now I’m focused on single family residences and in the near future I hope to be at two hundred homes.
Brad: It’s helped a lot. I think a lot of people get stuck in jobs that they’re not passionate about. Real estate is my passion. I really enjoy it. I like solving problems and I like the fact that real estate gives me that long-term freedom. I’m a firefighter but that’s two days a week and I get four days a week off. Then I go back in for two more days. I guess what I’m saying is, this has allowed me to get back focused on my passion and it’s helping me make money. I mean, if you can find something you’re passionate about that makes you money, that’s priceless so, I think there’s a lot of people that want to do real estate investing but just don’t know how to get started. And they think that the barrier of entry is a lot worse than it is. They’re just intimidated, and with Joe’s methods, like the for rent method in particular, you have almost zero risk. And it’s a great intro to real estate investing. I think the program has the potential to get someone into a career that they thought wasn’t possible. For me personally, it’s, I mean, two years ago to think that I have a portfolio of $2 million – I mean, I never would have thought that. And I did that all in, I mean, it’s been almost a year, but probably only six months is how long that took.
Brad: I do firefighting. Yeah, I’m a firefighter. And that’s a fun job, too, but I mean, eventually I probably won’t do that anymore. I mean, when I can’t afford to be a firefighter, then I won’t be. I do, yeah. I use the, I started that right of the gate, and it’s just crazy. I use text blasts and voice blasts. I started out doing mostly emails and when I switched to text blasts and voice blasts is when I started getting so many leads. I mean, I can’t even, I’m excited about this buying event and what we’re going to learn today and tomorrow because it’s going to show us more about the automation and bringing in, outsourcing some of the phone calls. The reason I’m excited for that is because I can’t even keep up with the amount of stuff that’s coming in, the leads, just the amount of text responses I get and voice blast responses I get. I’m trying to call all those people.
Brad: I mean, I’ll be honest with you. I’ve only, out of the last four weeks, I’ve probably only gotten back to maybe 50% of them and I just, and I’ve got so many deals brewing. They won’t all be deals, but it’s got me completely occupied so I’m excited to try to automate that. So, yeah, the Automarketer works great. But you still have to make the phone calls. Especially in the beginning so you learn how to do it.
Brad: Well, I would ask them to think about why they want to do it. You know, if they have a passion for it. I mean, everybody wants to make money, and that’s fine, but if you can figure out the real reason to do it, I mean, if you can do it to help other people, and then make money, you’re going to be a lot more successful. And if you have no idea what you’re doing, or even if you do, the for rent method is a great way to get going. I kind of skipped over that. I think I mentioned that earlier, and went straight to doing the zero down method which was great, too, but you need that cash flow. So the for rent method is great. I would say definitely look into Joe’s program. It works good. And more than anything, just take action. I mean, the good thing about the for rent method is, if you fail you might have to apologize or say sorry, but you don’t lose a bunch of money.
Brad: There’s a lot of programs where you could put up your retirement and lose that. So, this is a great way to learn it. Joe’s a good teacher for that and his methods work. So, I would say take action. I see a lot of people that want to do stuff in their life and never do it and you’ve got to do stuff. You’ve got to take action to be successful.
Brad: No, I just think it’s important to make the calls in the beginning, especially when you’re not good at it. It’s the hardest part about this and you can’t not make the phone calls and get results. You have to work through that awkward time where you sound silly and you kind of make a fool of yourself but once you get through that the payoff is so big on the other side that it’s totally worth the embarrassment. And a lot of times people just can’t get past that and they don’t make the calls and they come up with reasons of why not to call, what if this happens, what if this happens? Well, what if it doesn’t? What if that person is ready to help you make $5,000? You’re never going to know unless you call them, so you’ve just got to just push yourself through the calls. And that’s the hardest part. But if you can do that, then I think, even if people without a real estate background can still be very successful with this program.
Brad: Yeah, you set a time and decide how many conversations you’re going to have in a week. Joe likes us to have twenty. That’s a pretty good number and maybe even a little bit more. But you can’t count, you know, quick conversations. You have to have twenty good conversations and you need to just set away the time and just go after it and maybe even give yourself a reward afterwards, like don’t, you know, and another thing that helps me, too, is having the correct physiology before you do it. I know that sounds weird, but if you just get done working out, or you – you’ve got to have yourself up, pumped up and moving and then make those calls. And then once you’re done with the calls, you’re done for the day. And I mean, how long does it take to make five calls? Five good conversations, you know, five days a week – that puts you at twenty-five and if you’re doing that, I mean, you’re talking what – an hour and a half a night maybe?
Brad: That’s what it takes. So you’ve just got to figure out a way to do it. Set aside the time and reward yourself when you’re done.