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 – Armond Wright – Toledo, Ohio
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My Best Deal Includes 23 Properties And I Made $46,000
Armond: My name is Armond Wright and I’m originally from Toledo, Ohio. I initially found Joe Crump on YouTube. I was just coming, just looking at some information and I came across Joe. What drew me into the program was that from talking to Joe, we shared some of the same experiences during the, when the market crashed. And we shared some of the same experiences and he was just a person that I can relate to. Immediately I felt like I can trust him and people do business with people who they like and they trust.
Armond: Took me a little longer to do my first deal because I didn’t follow the instructions like I should have. But once I buckled down I put the deal together rather quickly. So, I did like, maybe a four-month kind of experience with some other stuff and kind of not really taking it serious. But once I buckled down I did my first deal. It was roughly around five months since I got into the program. And off of the first deal I made five thousand dollars.
Armond: The first deal really didn’t take me too long at all. It was a seller that I knew personally and I just put the, it was a package of properties. I put them out on the market, I would say approximately, maybe, a couple of hours or so. It came together rather quickly.
Armond: The best deal that I’ve done so far, I actually did it this year, it had, it was a group of condos. It was twenty-three condos in Indianapolis, Indiana, and it was a widow. She was looking to sell the houses because her husband primarily managed the properties, kind of, primarily ran the business. And he passed away. And it was twenty-three properties and I made $46,000 off of that deal.
Armond: My average income per deal is roughly anywhere between two to five thousand dollars. I currently set my deals up in a couple different payment structures where I would get paid initially and then normally I would do the property management so I would get paid a monthly fee and more than likely the properties that we acquire are going to need some type of rehab and I make money that way. So, usually I get paid three times per deal, and roughly that’s around two to five thousand dollars per deal.
Armond: Yes. We’re closing deals very consistently, and currently we’re looking to build houses. Looking to build quite a few houses, actually. The key to maintaining consistency is the will. It’s, I know, if you, you would be a better closer with increasing your skill but just the will. If a person has the determination to make the phone calls and talk to quite a few sellers, you’re going to close deals consistently. Now, to take that number even higher, as you increase your skill level then you would close even that many more deals. But to get to closing deals consistently, it’s more about the will. One gentleman once quoted it’s not a lack of resources, it’s more of a lack of resourcefulness.
Armond: My personal goal as a real estate investor is to keep the momentum going as far as the success that I’m currently having as far as buying properties for myself and primarily my, one of my focuses now is I’m buying the properties but I’m actually buying them for my kids. So, I’m setting my kids up with portfolios so they have like a starter kit as they, when get eighteen. And then as well as I want to share the knowledge with as many people as possible to kind of help them because again, a lot to say about the skill as far as putting these deals together.
Armond: But I think if I just can do a better job as far as sharing the information with as many people as possible and identifying the will in the individual, I know this business can help change a lot of peoples’ lives. In addition to getting involved with the building of the houses this is a new venture and I’m pretty excited about that, to start building safe, affordable houses for people. So it’s not like we’re trying to build these mansions and sell them for top dollar. We’re actually looking to build safe, affordable houses and give people the opportunity not only rent them, but also they can turn around and buy the houses.
Armond: This business has had a dramatic impact on my person life and my family life. My daughters, my youngest daughter, I got her started in the business and she worked with me for a while. I’m looking to kind of mend that relationship to get her to start working back with me again. My oldest daughter is a rock star in my opinion. She’s a significant piece of the business of how we move things forward. And then my son, he’s, as well as, he’s very, very talented, and he knows how to put the deals together. Now as far as the will, I still haven’t got that will in him to put them together consistently, but he can put the deals together as well. So, for me, anyway, not only has it made a tremendous impact on myself, what allows me to earn a consistent income without having to work a job, but also I’ve passed that skill level down to my kids where they can do the business and provide income for themselves as well.
Armond: Yes. I’m absolutely a full time investor. Probably slightly higher than full time. I pretty much work all the time and not because necessarily would have to, because I’m just very passionate about it. I love it. Because it had a tremendous impact on my life and I’m just looking to share that information with as many people as possible. For, as you can probably tell from some of the videos you’ve probably watched from Joe, that the impact of the business have on a seller when a seller’s able to sell a house that he may not have thought he could. I mean, people are just overwhelmed with joy and some people they literally cry when they’re there at the closing table. It’s just a very self-rewarding experience and I love it. I just want to have as many people experience that joy as they can.
Armond: My business has some automation involved in it. As far as leads coming in, I have several people that bring me leads. Realtors, contractors, I have office assistants that just constantly that’s their job, to bring in leads. And then as far as the closing of the transactions, I have my daughter, she’s a very key piece as far as the disposition of the properties. And we still have a couple gaps as far as the automation, as far as making it fully automated, but it is partially automated at this time.
Armond: What made me start to move towards more automation, just to be able to do more deals, like I was saying before, as far as the will, it gets you the closing deals, the will, but you only have twenty-four hours a day. There’s just one of you. So if you want to do multiple deals, you would, you’re forced to do some type of automation. You have to get more people involved into, into your process in order to make more things happen.
Armond: The advice I would give to someone that’s new that wants to get involved in real estate investment. I believe learning the lease options strategies is the best way to start and it, you know, if I was to recommend anyone and I truly believe anyone, I would, in the area, the best person I know to get started in the business is Joe Crump.
Armond: I believe that you constantly get better, even, you know, today, Joe said some things that I picked up, I mean, I probably heard on at least ten to fifteen times before, but, they, you know, they stuck with me today and it’s you just constantly get better. As you continue with the business you just constantly get better, better in the business.
Armond: Yes, I have a current process in place where, a system where I’m outlining it for three cities and then once I get that policized and I’m looking to take that same process over to other cities and have that run with full automation, so, the current process is to get the processes in place in the three cities and policize it, automate it and then take it to other cities so we can have the same like, a rinse, wash and repeat.
Armond: My plans for the future is to add more automation, add more people to the business so I can do more, be able to reach more and be able to help more people. This business had had a tremendous impact on my life and I’m looking to help out as many people as possible.
Armond: If a person is looking to get started in the business, there’s a lot of mentors out there, there’s a lot of coaches out there. And me, myself, have purchased information from other people and I honestly, truly believe Joe Crump is the best person out here in the business. And if you’re looking to get started, I strongly recommend starting in Joe Crump’s program.