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 – Richard Parry – Dallas, Pennsylvania
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I’ve Gotten 900 Leads With The Automarketer
Richard: My name is Richard Parry and I’m from Dallas, Pennsylvania. I’ve hear of Joe probably close to eight years ago. I joined his program two years ago. I’ve had the Automarketer for the past two years. We’ve got over nine hundred leads. Well, I was a mortgage broker, banker, for close to eighteen years, so it was real estate, I was always putting buyers through the programs of a mortgage. So it wasn’t really that difficult to put buyers through the process of actually getting a house. It’s the same process pretty much, pretty close.
Richard: Two weeks, I put the first contract together and I took a Subject To using mortgage. It was all lowered up inside of two and a half weeks with that, and as far as, that was a property that was worth $95,000. I took it over Subject To, the existing property, for $60,000. No extra to the person whatsoever, and I currently have that under a lease option to buy. We took $5,000 down with that. And we have that in there at $90,000. You know, so that’s doing really well. Ninety minutes. Maybe total, like, with all the little, like the five different stops and starts you have to do, probably about that long. Ninety minutes to an hour. Maybe two hours.
Richard: Best deal we did so far was the one we just recently sold. Person was going through, they lost their job the year prior. They were starting to go back on their mortgage. They owed $99,000 on the property, worth $183,000. I told them I’d give them $30,000 upon, when it closed, and we went right immediately to selling to property. We sold it for $183,000 and we gave him his $30,000 and we paid off the $99,000 and we made the extra. That was the best one. And that was just recent.
Richard: If it’s lease option, anywhere from three to five. That’s pretty much what you’re going to get down with a buyer coming in. The houses, we’ve actually hit some really heavy good ones, but we’ve also had ones that were like, made like, probably $3,000, that’s about it.
Richard: I took some breaks. And you know, if I, for eighteen years I was working really steady and I took a break and stopped in 2013 and I’m kind of coming back through it, but we’ve done like, five or six deals with this so far, but, we’re going to go back from this process here, set up all the systems, I mean, you know, I think putting the systems in place, administration, like, even if you’re a one-man person, you’re following the rules of what you need to do, you know, so, I’d say that. I mean, that’s, I probably am, probably working now about probably ten hours a week on this now. I’ll up that to probably a little bit more now as you get more serious.
Richard: Keeping that follow up system going with your texting and your emails and all that stuff to where that’s constantly going, constantly adding new buyers and new sellers into that list. Yeah, I mean, follow up’s everything. I mean, that’s ninety percent of whatever I’ve done in the past and it’s no exception here. Marketing is the key.
Richard: I just want to play golf. I want to go play with my daughter. I mean, but as a business, I just want to gain a portfolio out there that’s probably close to, probably I’d say thirty houses or anything in the equivalent of maybe two million dollars or something along those lines, that’s be for a buy and hold, but consistent money going through the process is what we’re looking to do. I won’t retire. I think this is something that you can sink your teeth into long term. Because if, at the end of the day, once you set your systems up, you’re literally just calling that person and putting a deal together. So, if you can have conversations with people you can do that at ninety-five. Do you really quit? I guess you can, but, you don’t really need to.
Richard: My daughter specifically sees what I do and really shows no interest except for like, you know, how does that work, a little bit, at sporadic times. So, everybody knows me around the house that I funded mortgages forever. Well, now it’s real estate and that kind of thing now. So, it’s really inspiring to the family be I get all those questions. Because they’re kind of looking, looking at you for those questions. You know, for those answers to their questions on their own personal house, and then what happens is, through our family, it seems to go out where we’re meeting more, that they’re out there telling somebody about me and I’ve gotten two or three deals outside of doing anything with Joe, but put them in Joe’s process. Through neighbors that live within side of like, a mile and a half of us. You know, so it’s kind of weird, but, it, you know, I guess as more you get your name out there. So that’s kind of neat, in a little local area, and like, a bigger fish in a very tiny pond, you know, but that’s kind of nice in a family line, too.
Richard: I do. But I actually stopped, I stopped working in the mortgages stuff for, in 2013, so, I kind of stopped for a little while, and then I kind of picked up Joe a couple years ago. Did it, like, half-heartedly and still succeeded. But now with a couple of other people that want to actually do some things with me locally I think turn on the system, bring it up full course. You can just scale, the key is is I can scale at any level and I know that and that’s probably the same deficiency at the same time.
Richard: My one partner per project which is, his name JJ, I don’t know. It was, it’s like, kind of someone you kind of, kind of he, very smart, knows a lot of things with the business, but to watch and see how we can actually kind of help him change his life and what he’s doing, because I’ve done pretty well with what I do and now I can do it with him as well and build something else. You can’t, I just don’t think you can stop working. You’ve got to always have a purpose you’re going to go do something with. You’re going to have to do something.
Richard: We’ve had the Automarketer for over two years. We have about 900 leads right now, to date, and that’s what’s haphazardly turning on the campaigns. And that’s in a very smaller rural section of northeastern Pennsylvania.
Richard: Doing anything longhand is monotonous between going and looking up, like, in a Zillow or craigslist or multiple places where you can find people that put ads out there, even your local paper. Turning on a machine that you can point to a certain area and just wait a couple days, or a couple hours, or actually a couple minutes. It’s actually, we got a lead in nine minutes after we turned the darn thing on. They texted us back that fast.
Richard: So, you know, at will. I call it, you can get calls at will, you know, so that’s pretty much what I’ve gotten from that. It’s made it a lot easier when you can have anything automated. So I can come in once a day, look at those leads, call them all, put them in the category they need to be in, and be done. That’s really efficient.
Richard: I would say you have to get with Joe Crump. I mean, you’d have to. Because if this is a system that you can learn and have nothing, and then turn around and go through the process, you can simply pick up the phone, take a lease option memo to somebody, have them sign it, and you really can even tell them I have no idea what I’m doing. I am literally learning from a guy who’s been doing this for thirty years. If you do this I’m going to do everything I can to get a rent to own buyer in your home. That’s what I’m going to do, and I’m going to try and do it in under thirty days. I have all these little marketing systems that I can put together between craigslist, Zillow, Facebook and a slew of others that we can do this. I know that you don’t want to do it, we’ll do it, and that’s the best way that anybody can ever start. Because they can start so fast. And get the Automarketer because it’s amazing. 900 leads. That’s all I can say.
Richard: I think the reason, my main motivation for doing this is because I have a sixteen year old daughter that I want her to be able to be very self sufficient older, whether she wants to be a baker, the President of the United States, or, you know, jumping on the back of a garbage truck. I don’t care what she wants to do. But she’s got to have this in her background. So that’s really my thing of keeping the system right here so she can walk right in and take over from that position. If she doesn’t, then that’s fine, but she’ll still have a secure future with whatever I was able to create.