I believe the best way to learn the business of real estate investing is to hear how others have done it. When these interviews were recorded, I asked the interviewer to ask questions that would help the viewer see how these folks got started.
I wanted to hear the struggles, the successes and a clear path and explanation of what they had to do to make these deals happen. I did NOT want them to be a bunch of people telling you how wonderful Joe Crump was. I wanted content, examples and real life experiences.
I hope we succeeded.
Case Study – Ralph Newton – Houma, Louisiana
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I Made $2,000 Cash On My First Deal With Two Phone Calls
Ralph: Ralph Newton from Houma, Louisiana. I was introduced through the internet. I came across Joe’s website and I became interested in it because he wasn’t, he wasn’t all hype, you know, he was down to earth, sounded like an honest man to me, so, I came to the event two years ago and joined his mentor program and got interested in doing lease options. It took, actually took me, my very first deal took me two years. And the reason being I didn’t do what I was supposed to do. I didn’t do that phone calls and do lease options. I started networking and building a network of buyers and then building a network of sellers as well, and that’s how I actually did my first deal. It was through a real estate agent. She had the deal and then I had the buyer because I’d been networking for buyers. And it was a cash deal and I made $2,000 in two phone calls.
Ralph: I did have to try to put a lock box on the door which I wouldn’t suggest anybody do. And that was prob- that, and two phone calls probably an hour. I sold a mobile home. It was on a lease purchase. It wasn’t using Joe’s program and unfortunately, since I wasn’t using Joe’s program, I did it on my own, and thought I knew what I was doing and it was my biggest deal because I learned a lot from it. And as a matter of fact, for that deal, not using Joe’s program, I went bankrupt.
Ralph: Yeah, that’s what I did. A wholesale deal. But I’ve done, I just started doing the phone calls and I run across, by doing the phone calls the way Joe taught us to do it, I ran across a lady that’s just sold a house and she’s in kind of the real estate business, I guess, in a way, kind of maybe an investor. And she’s got, when she found out about my program, which is actually Joe’s program, she said she’s going to start looking for houses to buy and do the lease program with me.
Paul: The way I do it, or like to do it, is find a buyer and, I mean, find a seller that’s got a deal, a good deal, and if it is a good deal it’ll sell quick. And then my buyers, most of them are cash buyers, they’re not mortgage buyers or go out and get a loan type buyer. They’re cash buyers and they pay cash for them.
Ralph: My goals are, believe it or not, to, I live in Houma, Louisiana, however my wife and are, have eight grandkids in Louisville, Kentucky, and we plan on moving to Louisville, Kentucky, and I plan on doing real estate in Louisville, Kentucky.
Ralph: Well, I’m not a big star, shoot for the stars type of person. I like to start out slow, so I would say my average deal are probably, because I do other businesses, my average would probably be $5,000 a month is what I’d like to do, through lease options.
Ralph: Well, my family’s always been very supportive of me in everything I’ve done, I do. I’ve been a restaurant owner, I’ve owned several other businesses. The business I have now I have sixty customers that depend on me to cut their grass and so it’s a grass clip and trim business that does very well for me. But I’m going to be sixty-nine this next month, this next week as a matter of fact, thirteenth of October. And I’m looking to slow down a little bit because my joints are hurting me. So, I’m going to sell that business. I want to, I won’t turn it over to anybody. I’ll just go ahead and sell it and do real estate full time.
Ralph: Yes. I’ve got Joe’s Automarketer, however it’s not set up, the automation part’s not set up. The websites are set up and working and yes, I plan on using that for marketing. How do I get deals on it? Through text and email and voice mail. Well, the best thing to do in my personal opinion would be get to some, find someone that you trust and that’s down to earth like Joe is, for instance, and follow the program and do exactly what he tells you do.