Went To Close And Walked Away With $20,000


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John Russell – Decatur, Illinois

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 Tom, 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.

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Went To Close And Walked Away With $20,000

John: My name is John Russell. I’m from Decatur, Illinois. I saw Joe over about a three-year period on the internet. I’ve been in real estate for about thirty years now. I think I bought my first house in 1979. Got caught up in the ’08, ’09 recession. Like most people who were big in real estate, everybody took a bath. So I’m just now coming out of it and trying to go back and do things a little different than I did back then.

John: My first deal ever was a, took me about a month when I first started and it was a rehab and I rehabbed it an rented it and then eventually I sold it. I made $10,000 off of it. Best deal I’ve done so far was a property that I bought in a place called Huntsville, Alabama. Went to closing and walked away with $20,000. Now, average income per deal is about $8,000.

John: Well, since I’ve been in it a while, I don’t have a thirty-year window to look at here, I’m looking at probably, maybe another ten or fifteen productive years. So I’m looking to buy a lot fast. I’d like to have probably a hundred buy and holds by the time I finish.

John: Looking at Joe’s stuff is going to make things so tremendously better from the standpoint it’s automation. I don’t have to do it manual. I can hire other people to do a lot of the work that I don’t particularly want to do, but know how to do.

John: Well, mine was a little unconventional. I worked for a Fortune 500 company for thirty years and once I retired I went, I was buying real estate at the same time I was working, so once I retired I just went full time. Spend your time with somebody who’s doing what you want to do and work for them for free for at least a year and let them teach you. Oh, absolutely. Absolutely. It’s, you learn so much faster with a mentor than you do independently.

John: I’ve had about three or four different mentors, okay? Joe is just, seems to be a very likeable guy and I’ve got his package of material and it’s a little overwhelming, but it’s good stuff.

John: No, but real estate has been very good to me and will be good to anybody that works it. But it is work. It’s not something that you’re going to get rich overnight. It’s not going to happen. But if you really want it, and you get in and work hard, it’ll be a fruit for you.

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