Uncover the truth about how to make real estate investing deals that help solve problems. Building a property investment business, or any business for that matter, requires you to identify and solve specific problems. Understanding this one thing will improve your chances of success!
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Make Real Estate Investing Deals that Help Solve Problems
Joe: Is it possible to have an honorable, ethical real estate investing business? Does the very nature of having a real estate business mean that you have to screw people to make that happen? I believe that you can have a very ethical, not only ethical, but honorable business where you actually solve problems for people not just take advantage of their weaknesses or their pain. And the ways that we have done this in the past is by being honest with people, helping them understand their situation and walking them through that process.
Joe: In a way we’re working the same way a doctor works when they’re giving a consultation or doing a diagnosis. A doctor may come to you and say, “You know, you’ve got cancer. You’re in a bad situation. And if you don’t do anything, you’re going to die. But, if you do these things that I’m going to give you, you have a chance of surviving. So, you can do the chemo, you can do the radiation, you could do the surgery, you know, which one of these pain inducing situations do you prefer?” Because the fourth alternative is death.
Joe: So, we’re doing the same thing with people that have properties. Sometimes it’s pain that we’re trying alleviate. Sometimes we’re just trying to help them optimize the amount of money they’re making so that they’re making more money. There’s the need and the greed situation for these people. So we can help them either make more money in the transaction, if that’s what they’re trying to accomplish, or, we can help them solve a problem that they might have being able to sell their property.
Joe: Or, we can keep them from being taken advantage of by other people that are giving them advice that’s not in their best interest. If we can go to everybody that we talk to, every seller we talk to, and we can treat them like we treat our mom. You know, I say, hey, you know, when you look at them and you say, okay, this is my mom. What advice would I give to my mom if she were in this situation? If this was my brother? If this was my best friend? What advice am I going to give to this person that’s going to help them solve this problem or get closer to what they’re trying to accomplish?
Joe: First of all, I have to know their options. And if I understand that there are options, then I can say, okay, you’ve got this option, this option or this option. In the Automarketer, there’s a button on the lead sheet that says “Seller Options.” And you can click that button and it will show you all the seller options, whether that is selling with a real estate agent, selling it dramatically under market value. Selling it for sale by owner. Selling it on a lease option. Selling it subject to, multi-mortgage. It has all these different options laid out for you so you can decide which one makes the most sense. And it’s going to show you the pros and the cons of each option.
Joe: Because if you can understand those options, then it’s going to make sense. Just like if you’re the doctor, you know, the oncologist, and you’re saying, okay, you’ve got cancer. And if you go with the surgery this is what’s going to happen. These are the pros, these are the cons. Here’s sort of my analysis. Here’s what’s going to happen with the chemo, here’s what’s going to happen in all these different situations. Which one of these – and here’s the one that I recommend. Here’s the one that makes the most sense to me. But which one would you be comfortable with, you know? Would you prefer this? Or would you prefer this? Either one of them might work. You know, they have different levels of success. Which one makes the most sense for you?
Joe: And we can go through that same thing and suddenly it takes us out of the negotiating position and it puts us into the counselor position. It puts us into the giving advice and doing something that’s honorable and helpful. And we can do this with both buyers and with sellers. When we’re working with buyers we can help them get properties that they never would have been able to get on their own without us. Because maybe their credit’s not in a great place, or they don’t have the income that they can show to make that happen.
Joe: But if we can show them how to make it work in a way that’s sustainable for them they’re going to love us for it. One of my students called it the crying quotient. It’s how many people cry at closing, giving us a hug thanking us for helping them buy a home, or get rid of a home that they couldn’t have done. I mean, these types of things have a huge impact on peoples’ lives. And we can do a lot to make that happen.
Joe: It also makes it possible for us to sleep at night and to have a good life and make this a sustainable business where you help the community and you go in there – so many places we’ve gone into where we’d buy a house and it was in terrible condition. And we would get great deals on some of these properties, but they’d be in terrible conditions. And we’d say you’ve got a few options here. The only way we’re going to buy it is if we make a profit on it. So, here’s the price that we would pay. But we can also buy it like this, or we can sell it like this. Or you could do this to it. Or you could do that to it. And we give them all their options that they have. And then they make a decision based on all the facts rather than just some of the ideas that we say oh, you might do it this way. Or, you got twist their arm to make it happen this way. We don’t use those techniques. We just – transparency. Be honest. Tell people what they need to know to make this stuff happen.
Joe: And then when you go into a community and you fix these properties up and you put good tenants in them, good families, into these properties you’re going to be loved in the community. And they’re going to help you find other properties and you’re going to build your business and you’re going to build your reputation over time. And that’s going to be very important if you want to do this for 20, 30, 35 years like I have.
Joe: So, the bottom line is do well by doing good. All right. Don’t forget to subscribe to this channel. Click on the bell and it will send you a notification every time I put a new video on there. Go to my website JoeCrumpBlog.com and you can sign up for my free email newsletter.
Joe: There’s also my coaching program, ZeroDownInvesting.com and my automation system PushButtonMethod.com which I hope you’ll check out.