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“How To Make $5000 in 30 Days Working 2 Hours a Day”
“How To Make $5000 in 30 Days Working 2 Hours a Day”
Joe: Hey, it’s Joe Crump. This next outrageous claim video is titled How to Make $5,000 in 30 Days Working 2 Hours a Day Five Days a Week. And this is predicated upon having some knowledge. Once you learn how to do this, working two hours a day is probably not going to be necessary. If you work, you know, three or four hours a week, making $5,000 in thirty days is going to be very realistic and something you can do every thirty days or you can do every week if you gear it up and work a few more hours to make it happen. Or you outsource some of the work or you automate some of that work.
And essentially one of the ways that I suggest that if you’re new at this or you’re just getting started or you’re looking for a way to invest that doesn’t require your cash or your capital or your credit then what I would suggest is that you use my for rent method which we go after for sale by owners and people that have their homes for rent and we ask them if they would consider selling their home rent to buy rather than just selling it outright or rather than just renting it.
Joe: And a certain percentage of those people say, “Yeah, I’d consider that.” When they say yes we then have them sign a one page lease option memo that gives us a principal interest in that deal which makes it legal for us to go out and sell that property if you don’t have a license. I’ve had a license for almost thirty years, but you don’t need one to do these deals.
Joe: So you can go out and sell these properties. You would raise the price by say, $5,000 and since you’re selling it on terms, your pool of buyers goes up dramatically. The people, 75% of the people in the United States cannot get a loan, cannot get a mortgage, which means that those 75%, they can’t own their own house unless they buy it on terms. And there aren’t that many properties available on terms. So when you have a property for sale on terms, it makes it really easy to sell.
Joe: As long as, with lease options, the monthly payment is at or below market rent. They’re more sensitive about the monthly payment then they are about the purchase price. You can usually sell it for a little bit more. Let’s say I’ve got a property for $200,000 and it rents for $1,500 a month and that’s market rent. So I’m going to get $1,500 a month for it, I’m going to raise the price to $210,000. I’m going to ask for $5,000, or I’m going to ask for $10,000 up front, but if they don’t have $10,000 I’m going to take $5,000 and then I’m going to have them make the payments on the other $5,000 over the next few months. They’re going to make payments to me for that other $5,000. So I can get more money by doing higher priced properties and asking for more money down even though they don’t have enough money for the down payment now.
Joe: And by the way, when you’re advertising your homes rent to buy don’t put in how much down payment. Just put “down payment required” and then when they call ask them how much they’ve got for a down payment and try to go up from there. Try and negotiate from there.
Joe: So, that’s how you do it, and so you make $5,000 really quick just by flipping one deal with very little work if, you know, talking to the sellers, getting control of the property, putting it on the market. We almost always are able to sell these properties from between two and four weeks on a lease option when you use the basic marketing techniques that I teach, which is using Craigslist, using Postlets.com, putting a sign in the yard and making it available for people to see and using the right advertising to announce it’s available for rent to buy.
Joe: Make sure on your Craigslist and your ads that you say rent to buy or lease to own or lease option in the title so the people know from the title to click on the link and look at the ad and see what you’ve got. Put lots of pictures of those properties and you will get those things sold.
Joe: And if it doesn’t sell in thirty days, I can tell you nine times out of ten the problem is that your monthly payment is too high. So lower your monthly payment to try to get it down with market rent. That market is going to tell you whether or not you’re priced properly. People look at between eighteen and twenty-three houses on average before they buy one. If yours isn’t the very best that they see for that money, then they’re going to buy something else. You’re going to be competing with other properties that you’re priced in that same range at so you’ve got to be able to compete with those. If you don’t you just don’t sell. And until you get starting to compete with other properties that you do compete with, you know, by lowering that monthly payment, that’s when you’ll be able to sell it. Because people are looking at the things in their price range. They’re not looking at things that are dramatically over that and then trying to negotiate down that price.
Joe: All right. So that’s how you do it.