My 6 month mentor program:
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Read Transcript for “I Made $10,000 On That One. It Was An Easy Payday”
Michael: Michael Hatcher and I’m from Knoxville, Tennessee. I worked at an insurance agency. I spent a long time looking over the internet looking in the real estate listings, and I looked at about 20 different big names on the internet or so called big names, and I saw Joe’s advertisement and what really appealed to me was that it seemed to really appeal to trying to help you out, and being a family man like I am… He’s got a lot of experience and he really knew what he was talking about. I got some of his free information first. He kind of lured me in. But after everything I’ve been through, it’s been well worth it. When I talk to investors back in Knoxville that have been in the business for 10 to 40 years, it seems like I know more than they do about how to do things and how to structure deals and things like that. These people just don’t know – they think you have to go out and buy everything with cash and be a landlord and sit around and make money like that. Or try to do rehabs and try to make money like that, and a lot of them are not even equity rich but they’re definitely cash poor. And so now they’re coming to me and asking me to help them out. So that’s good.
Michael: It’s funny because I had two really expensive properties on my website. They were $400,000$+ properties. One of them was a cabin and one of them was like a mini farm. Well, the girl with the cabin, even though I had a lot of people looking at my site and everything, they didn’t have $400,000 or even $2,000 a month and plus, they weren’t living in – it’s really – like Pigeon Forge, Gatlinburg – kind of like a resort area. So anyway there’s a lot of interest up there but I didn’t have those on my website. So I ran an ad for one girl who was really desperate. I ran an ad for her. Somebody called me about her property, went and looked at it and saw it and everything. And they wanted it, but it wouldn’t be enough and it had a couple of horses. And when they went on my website, they saw that I had the little mini farm on there and it was actually the same price so it kind of worked out really weird. I actually made $10,000 on it, which really wasn’t much compared to it being $400,000 – its only 2.5%, but that was an easy payday. The people they went out there, saw the property, and they came out there. They had a little credit problem. They had plenty of money. They ran a business and they had a lot of money coming in. They had some property down in Florida and so they’ve got $6,000$ a month coming in just for the property they had down in Florida. So they came up there, and I told them, ‘This is what you need to have. If you’re going to do the deal, you need to have the cashier’s check for a $10,000 down payment.’ (I was kind of choking up when I was saying that) ’$10,000 down payment and $2,000 for the first month’s rent and you need to make out the $10,000 down payment to Michael Hatcher.’ And they were like, okay. And I was like, ‘Man, this is alright.’ $2,000$ down to – I’m not going to mention the person’s name.
Michael: But anyway, the funny thing about is that I got that deal through somebody looking for another house. Well, I left that mini farm on my website and somebody found out about my website by word of mouth getting around and they saw that still on there. And they called me about it, and I said, ‘Well, it’s hard to move so I was going to take it off.’ I said, ‘I have another cabin on there or another place in the area. It’s a 2 story cabin. It’s almost as big. It’s got 1400 square feet of decking on two stories; beautiful mountain views. It’s on 2 acres.’ And I should close that deal sometime, hopefully next week. That’s $5,000 right there. Plus, I’ve got an investor bringing me properties. And this was just happening last week. So things are starting to flow. The proverbial boulder’s starting to roll.
Michael: I see all this stuff on the internet and I still get stuff sent to me and I’ll weed through it and I’ll look at it, but I’ve got everything I need from what Joe teaches. He’s always there when you need him, and if not, he gives you all of the information. Plus he gives you free information. He gives you so much information. Sometimes you’ve got to go, ‘Like, wait a minute. I’ve got somebody. I’ve got to go make some money first. I’ve got to go work on this deal.’ But I’ve got a little bit more to go to complete his program and now that I know that I’ve got things working and rolling, I’m going to tie up a few loose ends on some things I’m not quite sure about, and if I have a problem, all I have to do is call Joe or give you a call or an email.
Michael: I really enjoy them because you get to meet a lot of people. I met a lot of good people last time and I’m meeting a lot of good people this time, we’re passing emails back and forth. We call each other from time to time and shoot each other emails and give each other ideas and things. So we do a lot of kind of mini masterminding. Joe called every two weeks, and you’re called once a week but being able to speak to people that are kind of where you are and stuff like that – that’s good too.
Michael: I want to be able to make sure Martha can get back to work. She was kind of worried about that. And I want to be able to travel, because I lived in Europe when I was a child and I’ve traveled back to Europe again. My wife’s never been to Europe. I promised here I’d take her to Italy. I want to be able to take off when I want to. I want to be able to work the hours that I want to. I want to be able to put in my own hours mainly, and live my own lifestyle. This is what I want to do so this is what I’m going to do.