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What Does It Take To Be Successful In Your Program?
Joe: Hey, it’s Joe Crump. Got another question. This one is from Ziranell. And this is a long question so I’m going to try to paraphrase it so I apologize Ziranell, I just don’t have the time to read the entire thing out loud here. “No one’s doing sandwich lease options anymore.” Which, I don’t teach the sandwich lease options. You don’t want to take responsibility for the property, which a sandwich lease option does that. They pay you, you pay the seller. And there’s a chance for you to make some money in between, but there’s other ways to make that money in between. You don’t have to take it as a sandwich. If you’re going to take property, and you’re taking control of it, then you’re going to do it as a subject to, or maybe a land contract. You want more control than a sandwich lease will ever give you. But if you’re doing the for rent method, all you’re doing is flipping a property from, you know, taking control as a lease option and then flipping it to someone else without ever having to make a payment, without having to use credit, without having to do any of those things. You’re just, you know, you’re doing that on paper. You’re taking control and getting, becoming a principal in the transaction, and the reassigning your right to buy to someone else which is very different than a sandwich lease. So don’t do sandwich leases.
Joe: “Funny thing is, no matter how many gurus I listen to, or how much I read from other people or the students making $40K off of one deal with sandwich leases, I come right back to you and your methods. It’s something about you that I trust, that I really understand,” thank you, “and I’ve done the for rent method using the Automarketer last year, but somehow lost my way this year and I’m ready to do it again.”
Joe: I just checked out the rest of his questions here and basically his feeling is, he’s very frustrated with learning this stuff from a lot of different people. Everybody has a lot of different ideas about what works and what doesn’t. You spend a lot of money on programs like mine. Almost every one of my students has spent thousands and thousands of dollars before they finally get to me. And they say, “Joe, if I’d only found you first.” I also have people that have come into my program and they spend money on me as well. And the mentor program is expensive. It’s like going to college for a semester. I mean, well, it’s a little cheaper than going to college for a semester, but it’s similar. And I know it can be a big chunk out of your pocket.
Joe: And I tell everyone, I guarantee that you’re going to make money if you follow through with my process. And everybody that follows through with my process makes money. But I can also tell you that 30% of the people that come into my mentor program actually make money. Now, I think that’s a crummy statistic and I’m told that overall in this industry that I’m part of apparently, 5% of the people have success with programs like this. So I guess I’m 600% better than the average in the industry, which is encouraging, but it still stinks at 30%.
Joe: guess I’m 600% better than the average in the industry, which is encouraging, but it still stinks at 30%.
But one thing I can tell you is that 100% of the people that actually do the work make money with this process. So, if you come into and you do the work and you put in the hours and I tell my mentor students give yourselves three or four months before you can expect to make money, make sure you’re going to commit to me eight to ten hours a week and during that eight to ten hours a week that you’re going to be devoting to learning this process you’re going to be on the phone making calls, learning how to do the most difficult part of this process. And, again, it’s not rocket science. It’s not digging ditches, you know, it’s not, doesn’t take great brains and it doesn’t take great brawn. What it takes is stamina, and it takes the ability to have a little bit of internal fortitude and follow through with the process the way that I teach it and be willing to have people think that you’re an idiot when you first get on the phone with them. Because they’re going to treat you like that at the beginning and it’s going to be a little embarrassing and sometimes it’s more expensive to our ego than it is to our pocketbook. And that’s what makes it difficult. So people that are willing to come up with, you know, thousands of dollars to get into the mentor program or learn the training, that’s expensive to them but the more expensive part is actually doing the work and putting in the time and making that stuff happen and putting up with people until you learn how to speak to them credibly, to speak to them and listen to their problem and figure out what the issue is that they’re having and be able to listen compassionately and understand what their options are going to be and then explain their options to them in a way that they understand it and understand that the solution that you have for them, which we have solutions for almost everyone we talk to, the solutions that make us money, the solutions that we have for them actually is in their best interest. And let them choose you because they’ve got other choices, you know, and their other choices aren’t as good as you if you’re credible. If what you can do really solves their problem and they understand what it is you’re doing. So that’s what it’s going to take for you to be successful. And you can keep buying materials from people all day long, but if you’ll just get down to work with one of them that you’ve got, I mean, there’s some other good programs out there, you know, there’s lots of different ways to do it. I think mine is the best. I think it’s the way that you can do it without using money or credit so you don’t risk any of that stuff. The only thing you risk is your time and you risk your ego. And if you’re willing to do that, you can be successful with this process that I’m teaching.
Joe: But there are other good programs out there and if you want to follow thought with those, great. I say don’t use any money, don’t use your credit. Really. Don’t use your credit. The biggest mistakes I’ve made in my business over the years have been because I used my credit. The reason that things crashed for me back in 1991 when I had a $17 million business going, and I lost everything in that time, and I don’t know if you, I know most of you remember the crash in 2007, but, if you’re old like me, 1991 is when it crashed for me the first time. When 2007 came along, I rebuilt my business not on debt, in a different way, and I didn’t get hurt in a way that was, that took me under. Yes, it was, I had some pain during that time, too. But that was because people were losing their jobs and I was losing tenants. That was a challenge. But we had enough cash flow, we had enough reserves, to be able to do that and the way that I’m teaching this, I teach you how to build those reserves before you build a portfolio so that you can have reserves always sitting aside, you know, making sure that you can maintain your properties and keep them for the long term and build that equity over time plus have enough income while you’re doing that to have a good, healthy, happy life making a good income working very few hours to do that. So, that’s what you need in order to make this all happen and I hope you don’t get so frustrated with this process that you can, you can get back on your feet and do it.
Joe: I know there is some good people out there that are teaching these programs and I don’t listen to their stuff anymore and I don’t, you know, get involved with them or partner with them very much anymore. That doesn’t mean that they’re not good people. And there’s, I know there’s some shysters out there as well that are just taking money and they don’t know what they’re doing and they’ve never even done what they teach. So, you know, make sure you’re working with somebody that you can trust, whose been in the business for a while, who understands how to get these ideas across and has been there before with the issues that you have and then follow what they say and use them as a mentor and learn from them and don’t be afraid to spend a little bit of money. If you were going to college you’d spend a lot more money than this in order to do.
Joe: All right. I hope that helps. Good luck.