Does it take money to make money? You be the judge.
In the audio below, you'll listen in on one of my private students who is investing thousands of dollars into her education to become a better real estate investor. You'll be a "fly on the wall" as we discuss a huge obstacle she's facing in her real estate investing business and I help her to understand how to overcome it.
Listen in as she starts the call thinking that she needs about $60,000 to do a deal... and in less than 10 minutes I show her how she can do the deal for $59,999 less!!!
This call is for real – from a private coaching call I recently had. Normally students line up and pay thousands to participate in this but you get to listen in for free... just by clicking the link below. (And check out my minute-by-minute notes below). If you're a real estate investor, you NEED to listen to this ASAP.
Click Here To Download Audio #1
00:00–00:24 – The first 24 seconds are silent. Just keep listening.
00:30–01:35 – Details of the deal: She has a property in the area she is investing in worth about $80,000. The sellers wanted the investor to take over their mortgage (monthly of about $600) for a total of $54,600. The house is older but is in good shape with 2 bedrooms upstairs.
01:40 – Marketing: Listen to how she found the deal (about 1:40). That's a great way to market to find deals like this! I suggest all investors do this.
01:45 – 2:20 – Getting creative: In this segment, my student discussed one way that she tried to make the deal work. Although it didn't work out for her to do it this way, I applaud her creative attempt to get it done.
2:25 – 03:18 – Not enough capital: The reason she is not moving forward she said she doesn't have the capital to make the payments. When I asked her how much she needs, she thinks she needs $60,000. Keep listening, though, because she starts to rethink the possibilities!
03:18 – 03:59 – Getting control: Next we talk about the importance of getting control of the property. Listen to discover the big risk she is taking!
04:00 – 04:39 – Thinking about the seller: We then talk about the seller and their motivations. This is key for all potential investors to keep in mind.
04:50 – 06:14 – Thinking about potential buyers: Next, I ask her questions about who might be interested in ultimately living in the deal, as well as what the neighborhood is like. We talk about potential rental income and owner financing.
06:30 – 09:59 – You don't need money to do the deal... but you can GET money pretty easily: We talk about tying up the property with a contract in a way that doesn't require any money at all. (Check this out because this is awesome stuff that a lot of people don't know about). We also talk about how to make money pretty quickly on the deal… as well as residual money if you want it. Find out how her knowledge can make her at $18,000 or more!
10:00 – 10:05 – Breakthrough! My student decides to take action!!!
10:06 – 11:38 – We talk about different deals and ideas: Some of this can be a little advanced but it's worth listening to (and figuring out the math!) to see what the possibilities are. Learn how to make really fast cash without even managing the property by selling the deal to another investor.
11:40 – 12:03 – Find out WHY you don't need money to do deals: You don't need money to do deals if you have these essential elements. Find out what they are. (Good news: You can get these essential elements very easily… sometimes more easily than cash).
12:05 – 14:30 – Action steps and risks and rewards: Next, we talk about what her action steps are and what her risks are... and, more importantly, what her rewards potentially are… depending on where she is right now and what goals she has with her business.
That's just the first deal we talk about. But it's not the ONLY deal we talk about. Keep listening we discuss another way she can use her knowledge (and NO MONEY!) to make money on a deal. This one is potentially even easier and faster to do with no risk to her whatsoever.
This call is a great example of the opportunities that real estate investors have. It doesn't take money. All it takes is a little creativity and knowledge and ACTION!
Your friend and mentor,
Mark Evans DM,DN
PS, Do you have questions or concerns similar to what my student faced when she was doing her deals? Add them into the comments section.