On the Real Estate Investing Mastery Podcast, Joe McCall will share with you the real world secrets on how to make a full-time income through investing in real estate – with a special emphasis on fast cash strategies like Wholesaling and Lease Options. You will learn how to escape the 9-5 through hearing the stories of other successful investors, and discovering strategies that Joe has implemented in their businesses to obtain the freedom many only dream of.
Cold Calling King Shares His Tips and Secrets - Scott Morse from Lamassu Media » 1148
King of cold calling Scott Morse is on the show today and he’s absolutely killing it. Some of the biggest, most active wholesalers are still using cold calling to scale their business. Scott founded Lamassu Media, an enterprise-level call center that generates highly qualified and highly motivated seller leads for wholesalers all over the United States. Prior to getting into real estate, Scott sold leads to attorneys for about eight years. He’s now down in Columbia where he moved to launch his company and has been there for about two years.
If you’re new to the business and starting to form a team, make sure you know your numbers. Tracking KPIs and knowing your lists is fundamental. Before you even think about outsourcing cold calling to another firm, you have to be intimately familiar with how it works within your business. Scott shares how he built Lamassu, the KPIs he tracks, and some examples of scripts used by his team. If you’re interested in learning more about Scott and Lamassu Leads, check out his Instagram page linked below. Also head to JoeMcCall.com/Lamassu to learn how you can get 10,000 dials a month for free.
—How Lamassu Leads helps real estate investors scale through cold calling.
—Tips for cold calling if you’re just getting started.
—Which call tools to use for your business.
Creative Financing With Private Equity and Lease Options for Rehabbers - Mark Tapp & John John Jacks » 1147
I have two special guests on the show today, John Jackson and Mark Tapp. I’ve known John for a long time, and he’s one of the guys who helped me get started in the business. He’s been on my show a couple of times before and we’re in some masterminds together. Mark Tapp is a student of John’s. John and Mark discuss what they call the “floss method”, which is a way to combine private equity or capital with lease options to increase the ROI of your rehabs. It’s a great strategy to make more money with your deals using OPM (other people’s money).
The floss method solves financial problems for rehabbers. Mark has partnered with lenders that are specifically structuring lending programs for rehab projects. People can come in, get these loan programs, and rehab the house. But instead of flipping the house and hitting capital gains, they use lease options. This gets them longer-term financing and an increase in profits due to the cash flow. This is a great strategy to become familiar with, especially in light of the potential recession on the way. If you want to learn more about Mark and John’s strategy, check out FlossFlips.com.
—How the Floss method helps rehabbers.
—How to work with lease options to increase your cash flow.
—Tax benefits of holding on to rehab for a couple of years.
Tax Loophole Deals with Eddie Speed » 1146
Eddie Speed is one of the most creative guys I know in real estate. He’s going to help you understand some of the coolest IRS loopholes and how you can do more deals. Instead of one out of every 30 offers, you could triple your deal flow to three or four just by being more creative. With inflation at a 40-year-high, it’s more important than ever to be prepared and have a strategy to keep profiting in your business. Eddie’s done countless deals by offering creative solutions to landlords who are sick of taking care of their rentals. He’s got some great tips for anyone looking to make deals within that market.
Eddie has also shown people how to defer taxes on rental properties for 20, even 30 years in some cases. Many owners of rental properties know they have a tax problem but don’t know how to fix it, and that’s where you can come in with a creative financing solution. Eddie walks through some examples of how that would work and how you’d position solutions to sellers. We also talk about Dodd-Frank restrictions and how to get around them. If you want to hear more from Eddie, head to JoeMcCall.com/Eddie for details on an upcoming webinar.
—Why this recession is different from 2008.
—Tax loopholes for owners of rental properties.
—How to get around Dodd-Frank restrictions.
How to Profit in a Recession by Offering the Sellers Multiple Options » 1145
We’re talking about how to survive, thrive, and profit in a potential recession. Some would say it’s already here. Tech stocks are down, and while that might not necessarily impact the housing market, things are changing all around us and we have to be prepared. You can profit big even in a recession if you’re focused on the right things. Having a strong mindset and making decisions in advance are the secrets to success. Focus on revenue-generating activities like making offers and following up on leads. Partnerships with the right people also help you get deals done.
Getting to the root of your sellers’ problems helps you position yourself as the solution. Providing sellers with multiple offers gives them choices. You can offer them any number of creative financial strategies that might work. Gavin and I walk through some listings online and share how we’d position our offers so you can get some examples. If you want to do more deals in this market, you need to make multiple offers. We put together a mind map PDF that has everything you need to grow your business, even in a recession. Don’t forget to download it by heading to REIProof.com
—The importance of making decisions in advance.
—Creative financing strategies to offer to sellers.
—Examples of how to make cash offers.
The Main Opportunities in Real Estate in the Coming Recession » 1144
A recession might be on the way, but we’re working on a lot of deals right now. There’s still a ton of opportunity and we’re finding more sellers are accepting our offers now, more than ever before. If you’re just starting out and wondering if you really can make $10K in 10 hours per week, the answer is yes, you absolutely can. Marketing strategies like cold calling and direct mail work no matter what’s going on with the economy. To stay prepared for a recession, make sure you keep your network solid and your business lean.
There are big opportunities right now if you know where to look. From vacant land to wholesaling homes, all you have to do is follow the demand. If you’re new to the business and wondering where to start, educate yourself in creative financing and fast cash strategies. Listen to our podcasts and get involved with coaching programs and masterminds and learn from successful investors. In recessions, it’s better to focus on a quick nickel than a slow game, like flipping houses. With wholesaling, you can make the same amount of money with a lot less hassle and financial risk.
Make sure to download our free mind map PDF by heading to REIProof.com.
—Where the biggest current real estate opportunities are and how to find them.
—Why it’s important to keep your business lean and overhead costs low in a recession.
—Top marketing strategies to put in place right now.
Make Your Life Easier and Pre-Screen Your Sellers on the First Call with Gavin Timms » 1143
Being an expert seller is the million-dollar skill you need to run a successful real estate business. Talking to sellers is what leads to deals happening and pre-screening them whenever you get them on the phone can make your life a whole lot easier. Make sure you’re walking your sellers through the four pillars to uncover all the information needed to put a deal together. The four pillars for both inbound and outbound calls are motivation, timeline, the condition of the property, and the price.
When you work, use the four pillars to get clear on expectations and discover a seller’s problem, you can then use that information to come up with the perfect solution. You’ll be able to propose an offer your seller can’t refuse, making it a win for both parties. Having a problem-focused mindset will help lead to signed contracts. Use this simple formula to get more deals done and you’ll be well on your way to a massive increase in income.
—The importance of pre-screening sellers.
—The four pillars of talking to sellers.
—How to use the four pillars to make an offer.
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In your recent episode with Gavvin Timms, I definitely resonated with what he said about surrounding yourself with good people and network.
I couldn't agree more. I think one of the most important things in life is to surround yourself with good people both for personal and professional relationships. People who will trust and respect you, and who you can trust and respect in return.
You guys clearly have a passion for this work, and it comes through in every episode.
This Podcast Has Turned Into One Big Sales Pitch
This used to be a good podcast. The information was at one time fresh and new. Now it’s just one big sales pitch. Each guest that is on is there to sell something. Waste of time.
Such a wealth of knowledge! 🧠
Joe is without a doubt one of the absolute best in the REI podcasting game - this is one of the most insightful podcasts that I have ever come across! He does such a great job of sharing his own personal wisdom and I love how he leads meaningful conversations with industry experts who bring so much experience to the table. Highly recommend checking this show out - you won’t be disappointed!