Don’t Make Promises You Can’t Keep When Real Estate Investing!

In real estate investing, you must always strive
to use a low-risk, high-reward business model. Don’t make
promises you can’t keep and don’t commit yourself to writing
checks. The more money you make in a month, the bigger the risk
you can take.


In this episode, Blair and Jeff update us on what is going on
with the real estate market and discuss different real estate
investing and business topics.   Learn how to do business
with motivated sellers who are selling lodging establishments
while taking into account Covid-19. They cover how to market and
find comps in isolated rural areas.


Hear firsthand about a client’s success closing deals and
organizing buyer leads. Finally, learn about an interview process
to recruit new team members.


Mentioned Resources:


Propstream

Thick Face Black Heart – book by Chin-Ning Chu on how to
create an alligator skin

Craigslist

Indeed

Mojo



In this episode we covered:


00:00 – Start-up

00:53 – Market update and insight on malicious comments on
Facebook to investors during the crisis

09:04 – Clients concerns about what somebody in the RIA has
said about the neighborhood where he has locked up a cash flow
deal

12:14 – Where to find and what kind of photographers are
needed to take pictures of houses

12:54 – Whether it is necessary to have a lawyer for
transactions of a cash deal that has been locked up in Illinois

14:47 – How to do business with a motivated seller selling
her B&B, formerly a  , paying $2k a month and taking
into account Covid-19

23:43 – A closed deal in which client selling on a lease
option for $199k, purchased for $168k and with $35k down, and
about another wholesale deal under contract

28:00 – Interview process when recruiting new team members

30:00 – About a client’s thoughts on malicious comments to
investors on Facebook

31:18 – How to market and find comps for isolated rural areas

37:40 – About a client that talked to a seller that had been
in touch previously with another client

39:45 – A client’s successful way to organize buyer leads and
how his team is working

42:53 – How to handle a subject-to deal with a seller needing
$6k over the mortgage amount, a small spread, and tenants still
in the property

50:44 – Wrap-up



About Blair:


Blair is the founder and creator of Dealbot, a motivated seller
lead generation company. He has managed nearly $2mm in marketing
spend and generated over 100,000 motivated seller leads. He also
buys and sells houses himself in the Winston-Salem and Charlotte,
NC markets. In the past year, he has acquired nearly $3mm in cash
flowing rental properties with zero money out of his pocket.


Multimedia:


Youtube

Apple Podcasts

Google Play

Facebook



Thank you for listening!