My 6 month mentor program:
A few Case Study Video Interviews with my Students:
Read Transcript for “This Morning I Made 4 Zero Down Offers To Sellers, 3 Of Them Said ‘Yes'”
John: John Vurpillat and I’m from Crown Point, Indiana. I think I found him on the internet. We’d been working with a few other column mentors (because that’s why they call themselves or ‘real estate gurus’) and just kept finding their programs lacking. We couldn’t take that final step with them. They had a lot of good information and a lot of good knowledge, but we couldn’t quite get over it. So I started looking, thinking that I needed something more, found Joe and one of the things that I liked is that he’s in Indiana. And I liked that.
John: Also, when I read a bunch of stuff about his mentor program and different things, I loved the fact that he’s the guy I get to talk to and deal with. He’s the one teaching me how to do this. When I have a question, I like to be able to go back to the guy that ‘taught me that’ as opposed to some of the other people where I could never talk to them again; once they taught the class, we were done and that was the end of it unless I paid them a lot more money to do more. So that was sort of how we stumbled upon Joe.
John: I started his Cash Flow Newsletter first. I had that coming for several months, and then decided that we really needed to ‘do’ the Six Month Mentor Program with him.
John: With us, it was again, it was going to be with Joe. We also like the Team Leader Program that he had, so there was other people to talk to besides him that were successful in the business. A proven system yet you didn’t have to follow his system exactly. He showed you how several of the people in his program do things slightly different, from the signs to how some hold the property and others move the property along right away. So what we liked is that you could sort of customize it for yourself as opposed to ‘do it the exact way we told you and it’ll work.’ So we liked that a lot.
John: As of today, we have three of the For Rent deals going on. They haven’t signed the memo yet. They’ve indicated that we’ll follow up with them on Monday. I have appointments with all of them on Monday to physically go look at the property and get it signed. But we’ve either faxed or emailed them all of the agreements. All of them were fantastic with the idea because they liked the idea that they can continue marketing and if they find a tenant, great, but at the same time they have somebody else networking for them to find them a tenant and it costs them nothing to do that. So that’s helped a lot.
John: Also, we use Joe’s website that we can buy with a .com and we’ve received several leads through that. So fortunately, most of them have been cash offers right now so we’re working through how we’re going to take care of that and be able to move those on a secondary level, instead of us having the cash. But it’s brought us a lot of people through it, so we’re excited about our opportunities. We’ve mentioned to others that we have one lady that has 14 properties she owns free and clear and she’s looking to retire and basically move closer to her kids and wants to work a deal out. She approached me through one of our signs that she saw. Now we’re working out what we can do with it.
John: My short term goals are to generate enough monthly income to support both myself and eventually my partner. In a very short period of time her business that she’s in full time is getting ready to close. We may be taking it on and doing a purchase agreement with the current owner. We’re not sure. But we like working together and so we like the opportunity for her to be home and not have to travel as much so that we can work together. So it’s generating the cash flow initially for us.
John: I’m going to call it part time only from the standpoint that I also do home inspections and we have some other things that we do as a business with a couple other businesses. So I’m really only part time, but I’ll have it one day where I may have focused my entire day on real estate and then the next day may be only an hour or so, if at all. It sort of depends on what our schedule is for the time.
John: Yes, it can definitely fit and it can definitely work. What I’ve found is, even though I can work during the day full time, a lot of my calls seem to be during the night to reach the people, especially on the sellers side. On the buyers side, you have a little more flexibility. It partly depends on your work, but if you have a cell phone and you have time at lunch, you can return phone calls. There’s voice mail scripts to set up to where you don’t even have to actually talk to anybody initially to get things started. So there’s a variety of ways to get them calling you. So part time is the easiest way to start this business.
John: We’re never going to do this business full time. That’s one of our goals I guess, is that we won’t have to work full time anymore. That can become an option for us if we choose to. But both myself and my life partner, we’re able to work from home and continue to work our business from out of our garage. We have an office. And have adequate income to where income doesn’t become an issue and allow us to develop more exit strategies for the properties to where we can maybe do some buying holds, long term investment strategies or maybe look at do private money into things. Pretty aggressive for the first year. We know where we want to end up, but the biggest thing is for the cash flow thing to happen to where we can both work from home.
John: I thought it was great. I love to talk to sellers. I have no problem with that. I’ll talk to buyers if I have to but I’m not that big with that. My partner is the opposite way. She loves talking to buyers. She’ll talk to them all day long but she doesn’t like talking to sellers. But in talking to some of the other people, especially some of the people who have less experience that we do, and seeing some of their difficulties and where the questions come up, and helping them work through it and at the same time learning our ways to work through it to get past the nose – the key is to find where the issue is and how we can help you solve it. And how really, our help doesn’t cost them anything, doesn’t obligate them to anything, yet we’re an extra person on their team that will help them solve their problem for them. And I think that that’s a big issue for them.
John: And the role play just made it so much easier so that when the phone call came and you actually talked to a live person, it was like talking to a person sitting across from you. There was no fear whatsoever, as opposed to just trying to go in and pick up the phone and read the script and not understand the different points in it. So we were able to go over those beforehand and understand what the script means.
John: His hands-on. Every couple of weeks, we have a phone call with him. On the team program we have a call every week, and it’s the people that we’re talking to face to face that we get to follow up with in the phone calls. And these are the people that are still investing; still doing the process. So I don’t have to worry about that it’s somebody that’s talking about something they’ve done for 20 years but they’re really not doing it actively, or, they’re doing it actively but what they’re teaching is not what they’re doing actively. So they’re the people who are involved in the day to day. Besides mentoring you, they’re a source. They’re an investor source – they’re another source of exit strategy for you with a property. Also, when different circumstances come up, they may have been through it. And, you’re talking to them directly, so you’re not going through 3rd or 4th parties to find an answer; you can get it directly from them.
John: We’ll probably take away what our next steps are. So I know on the drive home, just simply because this is how we operate, one of us will be driving and the other will be taking a lot of notes on what exactly we got from the weekend that we’re going to utilize immediately; getting the automation going and getting things like that. But the biggest thing is that we now have the confidence to make those phone calls and to get out. Like I said, just with the phone calls we did this morning, I have 3 offers now so 3 potential deals and 3 potential ways to make some money, and that was within 45 minutes worth of phone calls.
John: I talked to 4 people and 3 of them said yes. With one, it was just the type of property. It was really more of a commercial with a rental unit attached to it and really not designed for the program that we were trying to do at the time. But I’ll try to follow up with that later on as a secondary type of option for them. But it was just not what we were doing. I really look at the 3 people that we talked to that were viable and I got 3 yes’s out of it – that’s a real strong confidence builder – to know that we can keep going forward and have the opportunity.
John: And that was where our stumbling block was before. We’d have maybe buyers but not sellers or we’d have sellers but not buyers, and it was getting it all matched up. With just the little we learned today, I know I’m not going to have any problems now matching those two up.
John: I was on the one call with Joe, the every couple of weeks call, and it was fantastic! I picked up some great things on that. So in talking to others about the team call, I just expect them to be as strong or stronger because we’ re getting to be able to get down to the minute details. And the team is more of our area so its people dealing with the same situation that we are as opposed to the main calls where you may have people from New York or California who have circumstances that may or may not affect you because of different laws and things. The team call is going to be about something right where your area is. So I’m really looking forward to that and getting involved in this.