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 – Perry Tobin – Seattle, Washington
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Persistence And Sticking With It When Things Go Wrong
Perry: Hi, my name is Perry Tobin and I’m from the Seattle, Washington area. How did I initially learn about the program? I’m trying to think, it’s been about a year, a little over a year. About a year and three months, I think. And I, I don’t know, I was flying home one day from my son’s house and just doing some research online and I found Joe’s blog, so I just went through it and I thought, wow, this sounds really great. So, I tried to get started immediately.
Perry: I like the idea of not having to use any of my own money, so the zero down aspect, the zero down investing aspect of it was what really appealed to me. Because I didn’t want to put up anymore of my own cash. I’ve been investing in property for a couple of decades, but I just didn’t really want to, you know, have to put up any more of my own cash.
Perry: I just got my first deal in December. I got a seller, I got a lease option memo signed in December. And I found a buy almost right away, within a couple weeks. But the deal sort of hit a road bump.
Perry: I had everything pulled together. The contracts were all signed and the house got vandalized on December 23rd and so the buyer got spooked and she backed out on the 24th. So, anyway, it’s taken a few, two to three weeks, to get the windows fixed and the spray painting fixed and I had another buyer, but it doesn’t look like that’s going to go through. But I’m pretty confident it’ll sell pretty quickly because it’s a really cute little house.
Perry: How do I expect it to play out? I am just trying to step up my marketing efforts for buyers. I’m calling some of the older leads. When I thought I had it sold I didn’t contact any of the buyers that had contacted me, so I’m going back and scraping through my old leads to try to see if I can get somebody on board.
Steve: I want to amass – what are my goals going forward with real estate? I want to – I already have several rental properties that I’ve invested in over the last twenty years or so. And I just want to do more. I have four rental properties, one duplex and I’m a partner at a storage facility. But I would like to get more single family homes.
Perry: I think it’ll be great. My mom is aging. I want to spend time with her. And she lives relative far from me, so I don’t want to have to keep taking time off from work. I also have grandchildren that I want to spend time with and my son, and so I don’t want to miss that. I really am looking forward to being financially independent so that I can do those things.
Perry: Follow the process, do what Joe said, because he knows that he’s talking about, for sure. What he says works. You have to be willing to put in the work and that’s been a little bit difficult for me in the past year and three months because of some of the things that I’ve been through. But, nevertheless, I’m getting there. And that’s my advice. I think, really, just you need to put one foot in front of the other and follow the program. It’ll work.