Epic Real Estate Investing - How these Two Epic Newbies Closed $5,000 and $14,600 Deals Last Week | Episode 79

Starting point is 00:00:00 Broadcasting from Terrio Studios in Glendale, California. It's time for Epic Real Estate Investing with Matt Terrio. Yep. Hello, everybody. Hello, and welcome to another episode of Epic Real Estate Investing. Got a great show for you today. I've got two great interviews. That's what makes up a great show or great interviews with Epic community members that

Starting point is 00:00:33 will be sharing how they've closed. their first deals in just the last couple of weeks. And you're going to hear how they found their deals, how they got them under contract and how they found their buyers. And as we make our way through these interviews, what I want you to do is I want you to take note of the differences and also take note of the similarities in their stories and in their experiences and their takeaways specifically from their experience. By taking note of the differences and similarities in the show today, I think you're going to walk away knowing exactly how to succeed in real estate, especially if you felt stuck or you're kind of, you're stuck getting started

Starting point is 00:01:11 or if you're finding yourself currently in some sort of slump maybe. This is the show for you. You see, one of these interviewees isn't even an academy member. He's simply listened to the podcast and he's followed the steps inside the free course that I mentioned at the beginning of just about every episode I've ever recorded. And I'll mention it again. If you haven't accessed that free course yet, you can do so for free. No strings attached. That's a whole and complete course. Today is 100% proof and evidence of that.

Starting point is 00:01:42 And you can get that course at free real estate investing course.com. Free real estate investing course.com. All righty. So today's episode was inspired by a series of emails that I received recently. I believe I received these emails from both of our guests, as well as another that you'll hear from on a future episode in the very near future. but I received these emails from all of them in the exact same week sharing with me that they just closed their first deal and put sizable amounts of money in their pockets.

Starting point is 00:02:14 I don't know if something was in the air that week or what, but it caused me the thing, hey, let's get them at least two of them on the show together to learn exactly how they did it. So I've got these guys. They're all waiting on the line. Let's get started. Our first caller is AC. AC, welcome to the epic real estate investing show. Hey, how are you, Matt?

Starting point is 00:02:34 Thanks for having me. Oh, you bet, you bet, and I'm doing very well. Thanks for asking. Real quickly, I just wanted to, you sent me an email talking about your first deal, and I wanted to get the gist on what happened and how it happened and all that good stuff. So first, A.C., where are you from? I'm from New Jersey. Okay.

Starting point is 00:02:52 Okay. Very good. You live there now? Yes, I do. Perfect. Any family? I do. I have three children.

Starting point is 00:02:59 Awesome. My sons in law school in San Diego, and I have a job. daughter in college and Sacred Heart and a little 12-year-old. Okay. Good. I'm just getting started with the family thing. You've been well through it. Yeah, I know.

Starting point is 00:03:11 Congratulations on it. Thanks, bud. So what do you do during the day? What's your job? Okay. I'm a project manager for a large commercial construction company. I build big buildings, basically, in the city. I'm working on the only net zero green energy school probably, I know, in the northeast and maybe in the country.

Starting point is 00:03:30 Got it. Okay. And how long have you been doing that? I've been, well, it's a carpenter for 15 years, and I've been a project manager for about another 15, maybe 16 years. Okay. Awesome. Awesome.

Starting point is 00:03:42 Do you enjoy it? I do. I enjoy it. It's fast-paced. It keeps me on my toes. I do enjoy it. Super. Cool.

Starting point is 00:03:50 So how long have you been investing in real estate? Well, you know what? I've done a couple of things over the years. I've bought some houses on my own and did work on them and, you know, sold one year. We lived in it and sold it. So I've always kind of been involved but never did it as an investment type of thing where I was kind of focused on what I'm doing now. Okay.

Starting point is 00:04:13 So I've always kind of wanted to do it but never really got fully involved. Got it. And then what shifted in your life or had you decided to get fully involved? I'm 50 years old. I've worked my whole career, you know, I have a house, you know, kids and all the things that go along with that law school and everything, and I don't have anything else. Retirement is not really an option for me right now, so I don't know if you ever watch the honeymoon is, but I'm sort of like Ralph Cramden. I've tried everything.

Starting point is 00:04:46 Got it. Got it. I tried every get rich, quick team, internet marketing, and I was kind of like at my width end, and I got to tell you, when I found your program, just something felt like. I was looking for something, and my girl was, and was always after me because her brother is into real estate. He's done some foreclosures. So if I was going to do something, I wanted to really know what I was doing. Got it. And that's kind of what prompted me.

Starting point is 00:05:15 Okay. So I've seen your name come through my email inbox a few times over the, for a while now. How long have you been an academy member? Almost three months. Just three months. Okay. Very good. Two months.

Starting point is 00:05:28 No, two months. Two months. Yes, two months. Okay. I thought we'd been corresponding a little longer than that. Okay, just two months. Well, I was, listen, I devoured every one of your podcasts and the free real estate, and I did everything before I decided to join.

Starting point is 00:05:42 So that's probably why you saw my email coming in through your inbox, because I was there before I joined. Okay, perfect. Okay, so that all makes sense now. So tell me, I got an email. The most recent one I got from you was saying, hey, I got my first deal. So why don't you tell me a little bit about that? all right i i kind of you know a lot of things that you say you know proceed at the um

Starting point is 00:06:05 at the speed of instruction i really took that to heart and that's what i was doing i wasn't waiting usually i'm the type of person that i've got to know everything about everything before i can go ahead and do it and i was determined this time not to to do that so that's what i was doing right away you know i learned about bandit signs i learned about yellow letters i started implementing that the yellow letters while I was waiting for my bandit signs to come. And I started, you know, getting the fears out by answering phone calls. And each one, you know, you get more confidence in answering, you know, the responses on the yellow letters. And then I got my bandit signs.

Starting point is 00:06:47 And this deal that I have now was actually, you know, a result of a bandit sign. Someone in New Jersey, you know, they had this house in Pennsylvania that they were letting go to taxes. They hadn't paid the taxes in two years. It was probably about a two-hour drive from me. I got the call, and the guy asked me, you know, you probably wouldn't be interested in a house in Pennsylvania. I said, sure, I would tell me about it. So he told me a situation.

Starting point is 00:07:11 I realized the situation would present itself to me. Like you always say, you want to have something to buy and hold. But that was the first thing I was thinking, maybe, you know, I could do a deal with owner financing, and how I can create my exit strategy. So I drove down one Sunday morning, was Saturday morning to take a look at it. And then I kind of made him an offer after that.

Starting point is 00:07:34 I made him an offer. It was pretty creative, I thought. Okay, so you kind of made him an offer? What type of offer did you make? How did that go down? Did you do it verbally or did you put it on paper? Well, I had never met him, to be honest with you. You know, I had met him only over the phone, so I made him the offer over the phone.

Starting point is 00:07:54 And then I sent it to him, and the author was this. the fair market value on the house was 90 grand, but I knew he owed the taxes on the property and it needed some work. So I asked him if he'd be open to owner financing. And he said he would. He would be open to that if I paid the taxes. So the next weekend I went back up and looked at the house inside. And it needed probably about $20,000 worth of work,

Starting point is 00:08:29 and that's when I made him the final offer, which was I made him an offer of $30,000 to the house, and I would cover all closing costs and back taxes, which amounted to about another $15,000. So he was going to hold a note for $30,000 for five years with a balloon payment on the fifth year, but it was amortized over 10 years, with interest only.

Starting point is 00:08:56 I mean, the principal-only loan. Nice. No interest. Nice. And that was the offer, and he accepted. Super job, dude. Super. So where are you now with it?

Starting point is 00:09:07 So now it's just closed on Friday. My original goal was to do a lease option. And I had ads on Craig's list for that, and I was getting good replies on that. But it didn't turn out that way. There was a change of events with the person that I was going to partner with that was going to, loan the money to do the repairs, and we were going to hold it on the lease option. But that didn't work out, so I had to go shop it somewhere else. And I didn't know anybody in Pennsylvania.

Starting point is 00:09:36 My network, I even emailed you if you knew anyone in Pennsylvania. So what I wound up doing was put an ad on Craigslist. And that made me connect with another wholesaler in Pennsylvania, and he eventually found the end buyer. So I did an assignment to another wholesale. who then assigned it to the end buyer. Hmm. Super.

Starting point is 00:10:00 So that's... And it closed. That's awesome. So you might have I ask, how much you put in your pocket on that one? I put $5,000 clear in my pocket, and the wholesaler, the other person put four. That's super. How'd that feel? It felt phenomenal.

Starting point is 00:10:15 You know, I learned so many things and made so many contacts on this one deal. It was just phenomenal. Mm-hmm. Mm-hmm. And besides the $5,000, which is awesome, what was your biggest takeaway from the experience? The biggest takeaway was that I can do it, that I can do this, and it's real. And this is only the beginning. It was just so many things.

Starting point is 00:10:43 It wasn't, I can't just say one thing. This one deal brought so many things to me. There was so many things involved. Like you say, if you're not making money, you're getting an education on this. It's when I did both. Right. Right. That's awesome, A-C.

Starting point is 00:10:58 So for someone that's listening to you right now that just joined the Academy, because we had a slew of them joined in November, and they haven't actually been able to experience what you just experienced. What would your advice be to them? Or do you have anything to relate to them? Definitely. I definitely do. It would be exactly like you said, go as far as you can see,

Starting point is 00:11:20 and then you'll be further. Don't be afraid. You can do it. Put in the work, it's going to be work. Without a shadow of a doubt, it's going to be work. But there's a whole host of satisfaction and excitement that if you just get into the learning and then go and do, you know, don't be afraid that, you know, oh, no, what am I going to do next? What am I going to do next? There was a lot of things I didn't understand about escrow, about how to open escrow, how to, you know, not use an attorney.

Starting point is 00:11:48 We all do things traditionally. I bought a few houses, and I only did it traditionally. Don't be afraid of that. Just do it. That would be my advice. Just do it. That's awesome. That's awesome. Well, congratulations, bud. I'm really proud of you. Thank you. I'm even more excited that you chose to share this with me because it really keeps me going and it lets me know that what I'm doing is the right thing and it's working for people. So that makes me feel good. So thank you very much for that and thank you for sharing that with the audience.

Starting point is 00:12:16 You're so welcome. I just want to say, you know, you are absolutely amazing and your team Mercedes has been amazing. and I can't compliment you enough how much you give back to us that, you know, if you give more than you get, that's what I truly believe that. Awesome. Thanks, A.C., I really appreciate it. Well, stay in touch. I'm going to let you go because I know you're traveling. I appreciate it.

Starting point is 00:12:41 You bet. Stay in touch and let us know about the next one you do. I will. Thank you so much, Matt. Take care. Awesome, bud. Take care. Bye-bye.

Starting point is 00:12:47 Okay. So what did you hear inside of A.C.'s sharing? I mean, I made some notes of what I heard, stuff that I think was pure gold. I mean, he began by saying he adopted the philosophy of moving at the speed of instruction. And he got started by simply just implementing the basics. He sent out direct mail. He put up his roadside signs. And then he started to receive calls.

Starting point is 00:13:11 Very simple. It's the basics. There's nothing more complicated than that. And he admitted that he was a little nervous with the initial calls. But the more calls that he received, the more confidence. that he gained and the more calmness that he gained, the better that he got at it, the better that he got it talking to sellers. And isn't that just like anything that you learned for the first time? I mean, whether learning to how to throw a ball or learning to play the piano or learning to

Starting point is 00:13:36 drive a stick shift. I mean, we all look ridiculous. If you ever saw me drive a stick shift in the beginning, I looked very ridiculous. But we all, whatever it is that we're learning, we all look ridiculous when learning something new. We get embarrassed. We feel inadequate. I mean, I remember when I was learning to drive a stick shift, I would get up at three in the morning when there were no cars on the road just so I could drive around and figure it out so no one could see me. I mean, and so we all get embarrassed. We feel inadequate, especially in front of other people. But what happens if you don't give up? If you keep repeating the activity and you do it over and over and over again and you work those repetitions, you become better at it, of which builds your confidence, of which,

Starting point is 00:14:20 causes you to do it again and you create the results of which again builds your confidence and when your confidence is building you're more apt to keep doing that activity over and over again of which through this repetition you get better and you get results of which builds your confidence again and around and around it goes but you have to get through that initial clunky stage where you're trying to find your way and AC did that he made his way through that process and because he did, he got a $5,000 payday. So, what else did you hear?

Starting point is 00:14:54 Well, one thing that's obvious, he made an offer. You got to make an offer if you're going to do a deal. Sounds basic, sounds simple. It sounds like why are you even wasting the airtime sharing this? Because so many people don't ever make an offer. They make up their mind before they even present the offer. But AC made the offer.

Starting point is 00:15:13 And he made a rather bold offer too. Right? I mean, he asked the seller if the seller was open to seller financing. And write that down. That's one of the more powerful phrases in my entire repertoire of negotiating. Are you open to seller financing? And then he proposed, get this, he proposed a principal only loan. Awesome.

Starting point is 00:15:38 I love it. I mean, I remember the first time that I told people that I do this and this is a normal practice of mine and that I'd get these types of offers accepted, nobody believed me. Everyone thought I was crazy. And for those that did believe me, they thought I was some type of genius or something. No, not at all.

Starting point is 00:15:59 All you have to do is ask. AC asked. And it got accepted. Now, his first exit strategy didn't work out, and he didn't have a buyer's list. I don't know if he had any money at the ready or not. I don't know. But he's made it all the way up.

Starting point is 00:16:15 up to this point and hasn't needed any money, right? He's got all the way up to this point and didn't even need money. And so when that second or that first extra strategy didn't work out, instead of panicking, he just simply put the property, the property that he had under contract. He put it up on Craigslist. And we've mentioned that several times. That's no secret.

Starting point is 00:16:38 We all could figure that one out. And then in a relatively short period of time, another wholesaler contacted him. and they put the deal together. AC put $5,000 in his pocket. The wholesaler put $4,000 in his. And what you'll notice there is, AC made more money than the person that found the buyer.

Starting point is 00:16:59 He made more money than that person. And he did so because he had it under contract. When you have it under contract, you're in control. And more times than not, you get to call the shot. And typically the person that calls the shots makes the most money. And that's exactly what happened in this situation. Now, AC's confidence, in his words, it's through the roof. He said it's only the beginning for him.

Starting point is 00:17:29 And the two things that he shared at the end were one, travel as far as you can see. And when you get there, you'll see further. And you can easily see that's exactly what's happened here. And that brings me to the number of two major thing that he shared. don't be afraid, just do it. And those two things, they tie in together real nicely. I mean, he admitted that he didn't even know how to open escrow, but he figured it out. Well, if he had waited to learn how to open escrow before he sent out his letters or put up his

Starting point is 00:18:00 signs, he would have never gotten a deal. You don't need to know how to open escrow before you start your marketing for sellers. You don't need to know where you're going to get the money or you don't need to have a massive buyers list before you put a property under contract. Travel as far as you can see, and when you get there, you'll see further. It's clear once you've made that initial travel, and then the answers will, they will appear. AC is an awesome example of traveling at the speed of instruction, and he got the result, a $5,000 profit.

Starting point is 00:18:39 So let's check in with our next guess, Keone, McMayan, County, welcome to the epic real estate investing show. Thanks, man. Yeah, glad you're here. You know, I've had a couple interviews already, but I have to admit, really, the email that I received from you last week inspired everything as you sent me a photograph with your first check in front of that burned out house. That was awesome.

Starting point is 00:19:03 So you're in a... Where are you from? Well, I'm originally from Portland, Oregon, and I moved up to... Stanwood, Washington, just north of Seattle, a couple of years ago. And, yeah, I just, I tried getting into real estate investing a long time ago when I was much younger. And I ordered a couple, like, programs or whatever, and I tried to follow them. And I never really got any, you know, any good information out of it. And I was kind of disheartened, really.

Starting point is 00:19:42 and years later, I finally decided to get into investing, and I got myself a buy-and-hold property, but that was right in 2007, and everything tanked right after that. And I'm still sitting on that property that's upside down, you know, because there's really nothing else I could do. I'm just floating it right now with a renter in there, but I basically kind of decided not to pursue real estate investing anymore

Starting point is 00:20:10 until I really had money to invest in the market got a little bit better. But I came into some money, and I wanted to invest it into buying holds again. And I decided that this time before I do it, I wanted to educate myself as much as possible before I got back into investing. And then that's kind of how I came across your podcast. I was looking for any information I could get just to educate myself because I didn't want to get burned again and I discovered wholesaling. Right.

Starting point is 00:20:44 And I realized I didn't need to put my own money into it, you know. So I started following the steps and, you know, I got a little discouraged at first because I had some, you know, I was putting in a lot of work and I was talking to a lot of people but nothing was really panning out. And then, you know, and then all of a sudden stuff started, you know, happening and, yeah, just kind of snowballed real quick from that. Got it, got it. So how long have you been listening to the podcast?

Starting point is 00:21:10 then? I think I started listening to it in August. Mm-hmm. And, yeah, it was like around August that I started listening to it. And basically I put in my earbuds and listened to it like all day while I was at work. And so I've learned through probably 100 hours of podcast, you know, in a couple of weeks. And then went back and listened to it all again and was taking notes. And then I just started putting things into action.

Starting point is 00:21:38 Right. So about three months then? Yeah, about three months. Okay, so that's not too long. That's not too long. And you're not an academy member, but you went through the free course, right? Yes, that's correct. Okay, and you just followed those steps one at a time.

Starting point is 00:21:52 Let's start at the beginning. How did this deal actually come to you? What strategy generated this lead? Well, I've been writing a lot of yellow letters and basically doing a bunch of different strategies, but this one fire damage house happened to be off of a band-assine. that I put out. And, yeah, I didn't really get a lot of calls on the bandit signs, but when I did finally get a call, it was like the guy said,

Starting point is 00:22:19 you know, the first words out of his mouth were, hey, I've got a house I need to get rid of, and it was, you know, the alarm bells went off. Need to get rid of the opera awards there. Exactly. So I scheduled an appointment with him right away, and I went out and saw him the next day, and I met him at the house,

Starting point is 00:22:37 and the house was, I mean, it was practically a hole. It was, and it was scary because, you know, like the back wall, the house had burnt down. The rest of the house was smoke damaged. They had gutted it, I mean, pulled out all the carpet and a lot of the stuff that had been water damaged. And, you know, there wasn't, there was, the bones were there, and a lot of it was in decent shape. but they were looking at, you know, it was probably a, he said he'd gotten a quote, $100,000 to fix it back up, you know, to live in. It looks like it, actually, by the way. Yeah.

Starting point is 00:23:19 If you want to see a picture of Keani's house, you can go to epic real estate.com forward slash 79. My new partner, Courtney, is working really hard on the show notes. She's keeping all that stuff up to date. So show notes for all of the episodes, you can find that now. at, just go to epic real estate.com forward slash and then type in the number of the episode. And if you do that for a number 79, you can actually see Keone in front of his house holding his check. So very good.

Starting point is 00:23:47 So you thought it was about $100,000, or he said it was about $100,000. What was your opinion? My opinion was, you know, I'm not a, like a general contract or anything like that. So that's kind of where I have a hard time that's coming in with an estimate myself. but I had to basically think to myself that, you know, if he's going for an estimate, you know, I'm thinking that it's probably going to be a little bit high as far as him, you know, getting a repair done on it as opposed to somebody that's coming in to fixed up themselves. Right.

Starting point is 00:24:21 So I told him there were comparables in the area that said that I had an ARV on it of around $200,000. Okay. So I basically We negotiated it out and we agreed to sign the contract at 35 Wow, okay, so you got this $200,000 potential house Under contract for 35 Awesome Yeah, and I figured with that kind of a price

Starting point is 00:24:48 You know, he was basically, he was ready to demo the house And then just try to sell the empty land lot For whatever he could get for it And he was worried about squatters and, you know, potential, you know, liabilities with the property the way it was, and he didn't have the time to do it. So he was just ready to get rid of it. Sure.

Starting point is 00:25:11 And when, you know, he was real skeptical of me, you know, paying $35,000 for this burntout hole. Right. And, you know, basically once we locked up the contract, I've been a member of the local real estate investors association. So I went to my RIA Association. and basically put it out there first, looking for, you know, somebody to want to buy it. And I had a... How did you put it out there when you say you put it out there?

Starting point is 00:25:39 What did you do? Well, my local real estate association has a website that, and basically they have a needs and want section in the website where you can post contracts, you know, for wholesale properties. And I put it up there. and a wholesaler friend of mine contacted me and offered to coal wholesale to deal with me. And he teed up the buyers and we have the whole thing locked up and ready to go within, I'd say, less than 48 hours. Wow, that's good. So RIA meetings, your relationships is how you found out. That's super, super.

Starting point is 00:26:23 So in 48 hours, you had it under contract for what? We sold it for $59,600. So it was a total profit of, well, it was a total fee, assignment fee of $14,600. That's awesome. Not bad for your first deal. I was pretty happy with it. Cool. So now that you've done this for a few months, and, you know, after that whole experience,

Starting point is 00:27:01 how do you feel about it? What's your biggest takeaway from the whole experience? Well, I started getting discouraged there for quite a while because I've been working at it and, like, really putting in the time, and I'd sent off a ton of letters and done a lot of stuff, and I'd talked to a lot of people, and it just seemed like, you know, I did the whole math of, you know, a thousand letters will get me, you know, 20. calls and 20, you know, maybe 40 calls, maybe I'll get a deal out of those 40 calls. Well, I'd sent out 2,000 letters and probably talked to 80 people, and I was just, I didn't feel

Starting point is 00:27:33 like there was any potential in any of them. And I was kind of starting to get discouraged, you know, and kind of getting down on myself, but I kind of kept on plugging away, and then this one popped up. And then, you know, I just closed this a couple weeks ago, and then another one pops up, and I got that one under contract today. And so that looks like it. It's going to be potentially a very good one. That's awesome. That's awesome. So now that, you know, you put your work in a little bit and you closed that deal last week

Starting point is 00:28:03 and you just got a new one today, you know, as I called you, you were in the car on the way home from that deal. So awesome. So what are you seeing difference? What do you think is different between these two? Do you think there are any missed opportunities, say, in those first 80 calls that you got? Absolutely. Absolutely.

Starting point is 00:28:18 And, you know, the biggest thing for me was, you know, I started putting the action in, you you know, in, and when the phone first started ringing, I was scared out of my mind. Like, I didn't know what I was going to say, you know, and I had a good idea, you know, and I had listened to all the podcasts a couple of times, and, you know, at this point, and I knew the basics, but I was still nervous to talk to people, and I'd get people on the phone, and I was surprised at first at some of the, like, reactions from people, and there are some crazy people that call. you know but um you know the more i talk to people the more comfortable i started getting and

Starting point is 00:28:58 and and i'm sure there were some missed opportunities in there um but um so i was just explaining this to my sister actually she was in the car with me earlier when you called today um because she wants to get involved now that she sees it working for me so i'm walking her through all the steps of how i did it and and what i've learned and um basically what i told her is you're gonna screw up at first, but as you get more comfortable, your conversion rate's going to start getting better. Right. Right.

Starting point is 00:29:26 That's awesome. You just got to go through the repetitions, and it's just like learning how to do anything. I mean, you're going to mess it up in the beginning, and, you know, I always like to use the example of tying a shoe. There was a time where we could not make that happen, right? And now you can just, you know, tie your shoe while you're chewing gum and talk on the phone and running out the door all at the same time, and I even gave it a thought of how your shoe got tied.

Starting point is 00:29:48 Yeah, exactly. So awesome, Keone. This is going to, real estate is going to be just like that for you sooner or later as long as you keep doing what you're doing. So tell me out this new deal. How did you find that deal? Yeah, you know, this other deal came off of another bandit sign. And, you know, that's what I've been having the most luck with around here. But it's a 100-year-old farmhouse.

Starting point is 00:30:14 It was built in 1910. and basically the mother is the woman that owned it who's owned it for 35 plus years. She's moving on to a retirement home and she wants to divide her estate amongst her children before she passes away. And she doesn't have the time or energy to deal with, you know, fixing it and listing it and all this other stuff. So I went out and evaluated it to the property and I made her an offer of $85,000. and they wanted to be closer to 100, but we ended up agreeing at 85. And, you know, I've got a comp. There's two houses down.

Starting point is 00:30:56 It was built by the same builder in the same year. They're almost identical houses. That one's been refurbed already. And that sold 19 days ago for $250,000. So I think there's going to be a lot of room in that one, and it looks like it's going to be a pretty good deal. So I'm just getting my packet prepared. I got the signed contract today, and I'm getting ready to put that out to my buyers here very soon.

Starting point is 00:31:21 That's awesome. That's awesome. What kind of condition is that one in? It wouldn't qualify for any kind of an FHA loan. It definitely needs some work. But it's structurally, it's in great shape. It just needs heating and, you know, need some reconfiguring because there's been some interesting changes. made to it in the past hundred years.

Starting point is 00:31:45 Rooms without closets and that kind of thing. But, you know, there's a lot of potential in it, I think. That's awesome, dude. That's awesome. Did you know that comp before you went out to see that property? I did. Well, I talked to the guy, and I, it sounded like, I talked to the sun, and it sounded like they were motivated, so I scheduled an appointment the next morning.

Starting point is 00:32:07 And that night I went and ran the comps, and that's when I found the one, you know, two houses down. I sold 19 days ago, and you can't get a closer comp than that. No, no. That's awesome. So, yeah, really, that one I think is going to be a pretty good one. That sounds like a home run, for sure. Super.

Starting point is 00:32:25 So, you know, for someone out there listening right now that's feeling discouraged, that this hasn't been working for a while. I mean, I just had Jesse Milner on like four or five episodes ago that, you know, he did this for five months before he actually got something to pop. What would you say to somebody that's feeling? discouraged. They haven't got that first nibble yet. Well, you know, one of the pieces of the devices that I got from you, I believe it was, and I'm trying to teach my grandmother and my sister how to do the same thing as me because they're really interested now. And so I've been on the

Starting point is 00:32:59 phone trying to coach them along with what I know. And I've also recommended your podcast to them, so they're just getting started. And one of the biggest points that I've made to my family, that's, you know, trying to figure things out is, I said, you know, you can't wait at home. If you're going to take a road trip, you can't wait at home until every single light along your path is green. You have to just go, and when you get to that red light, you got to evaluate the situation and go from there. And that's been the biggest thing for me is just go, you know, ready, ready fire aim. Awesome. Can't steer a parked car, right?

Starting point is 00:33:39 Exactly, yeah. So, you know, I'm just, I took action. And like I said, you know, my conversion rate, I'm sure wasn't very good for the first 80 people I talked to. But, you know, I'm course correcting. So I'm dialing her in. Super. One more thing that just occurred to me. You know, you've gotten two deals from your roadside signs.

Starting point is 00:34:00 And I know some people are kind of cautious about putting those up or their city won't let them. Or do you know what the rules, regulations, anything like that are in your area? Well, I looked up from my county, and the regulations were a little vague, so I'm not 100% sure if I, you know, if I might get in trouble for it or not. But a piece of advice that I learned, and I don't remember exactly where I learned it, was to use a Google Voice account for the phone number on my sign. and that works out great because when the buyer calls or when the potential seller calls, it takes their message, it transcribes it to an email

Starting point is 00:34:47 and then it emails it directly to my phone. And I can hit the button and listen to it if the transcription doesn't, you know, it's hard to read because sometimes Google Voice will throw in weird words, whatever it hears. But usually I can read just fine and then call them back right away.

Starting point is 00:35:02 And that's how both the deals that I've gotten have come off of those signs through Google Voice. Super. And you kind of conceal your identity that way as well. Yeah, it doesn't really, yeah, if the county decides to come after me, it's hard to trace that phone number back to me. Right, right. Apologize later, right?

Starting point is 00:35:19 Yeah. Yeah, exactly. And something that I've done recently is I've been out, you know, that fire damaged house, I went and drove the area and found a couple more abandoned properties. And, you know, I tried to get a hold of the owners. and I didn't have much success, so I just stuck my sign right in their front yard and waiting to see if they call me. Dude, that's super.

Starting point is 00:35:44 Okay, first, where did you try, if you found an abandoned house, where did you go to try and locate their information? Well, I went back to my computer and I looked up the county records to try to find out who was the owner, who's, you know, if the owner has a separate mailing address. and I didn't really have much success because the owners had their mailing address listed as the house that was abandoned so my next step is running a skip trace and I tried getting set up with a skip trace count or whatever and they actually you know it didn't go very well

Starting point is 00:36:25 I guess they said that they couldn't I don't know they didn't like my answers when I tried getting set up a skip trace thing So I'm still in the process of trying to get all that ironed out so I can get in contact with these people. But that's kind of my next path to figure out is really nailed down how to get a hold of these people that have these abandoned houses. Super. So I love it. Initiative, resourcefulness. And then you ultimately say, well, until I get that figured out, I'm just going to stick a sign in their yard, right?

Starting point is 00:36:59 Yeah. What does the sign say? It says I buy house as fast for cash as is, and then my phone number. Super. I love it. One thing you might want to try, Keone, is putting up a for-sale sign in that yard. That's what I've heard. That is a nice, tricky little trick, and I told my wife about that, too, and we both

Starting point is 00:37:22 had a little giggle over it. I stuck a sign in the yard that I had. I didn't have any of the for-sale by owner's signs with me. but yeah I've heard that one that's funny that'll work much faster than skip trace most of the time yeah that's a very good idea

Starting point is 00:37:36 I think that might be my next step something to consider but I love what you're doing dude and I'm really proud of you awesome for sticking with it and boy you got rewarded with a really nice payday as well well and thank you so much

Starting point is 00:37:48 for putting the podcast out there you know the truth is I've I've looked in the real estate investing before in the past and I've I've you know I've ordered some some some packages and just really the information I got was so outdated and it was just, I mean, some of it just

Starting point is 00:38:05 seemed ridiculous at the time. And, you know, I've really been able to kind of follow your instructions and the information has been fantastic. Awesome. And I thank you very much for, you know, putting this out there for people. You're very welcome. And you know what? The greatest gift you can give me is sharing your success with me.

Starting point is 00:38:22 So thank you for doing that. And thank you for being so gracious and sharing that with the audience as well. Absolutely. Perfect, Keone. So stay in touch and give me a chat or send me an email back. Let me know how this second one goes. And you can tell us all about that too. Yeah, sure thing, Matt. Thank you very much. All right, Connie, you have a good day. All you too, bye.

Starting point is 00:38:39 Bye. Okay. So what did you hear inside of Keone's sharing? Well, one thing that jumped out at me right away was he got a $200,000 house under contract for $35,000. And you know what? That jumped out at me because it caused me to immediately think about the countless times. And this happens in emails. It happens over the phone. It really happens in live events. Where I'm asked, why would anyone sell their house at a steep discount to an investor

Starting point is 00:39:12 if they could just go out and hire a realtor and get a maximum price for it? It's called life. Life happens to people. Life creates challenges for people. Life creates challenges with urgency, that sometimes selling a property is what's going to solve that challenge for them. And a realtor is not always the best solution

Starting point is 00:39:34 for that challenge at hand. So opportunities like Keone's, they happen every day, multiple times a day. And another thing that I noticed is, Keone shared he came into some money, right? But he didn't need it, did he? No, not once. I mean, could he have not taken all the examples,

Starting point is 00:39:53 exact same steps whether he had the money or not. Yes, absolutely. Would anything have turned out differently if he had no money? No, he would have gotten the exact same result. Also, he didn't have a buyer's list either, did he? Nope. He just posted it on his Ria Club's website, and boom, 48 hours the property was sold. And this happened because he got the deal under contract first, just like AC.

Starting point is 00:40:23 They found the deal. They put it under contract. And then the money found them. It wouldn't have happened the other way. I mean, what if Keone just went to the Ria Club's website and says, hey, I'm thinking about going out and finding a deal. Does anybody want a apartment with me if I find one? What type of response you think could have got then?

Starting point is 00:40:47 Right? No, he found the deal first. You post the deal. You advertise the deal. You market the deal. you tell people about the deal, you expose the deal, whatever it is, once you have the deal, you have so many more options and you have the type of options that will actually end up in a positive result, like your deal under contract or sold in 48 hours.

Starting point is 00:41:13 And also just like AC Keone, both of them were discouraged in the beginning. Both were scared. Both were nervous to talk to sellers. But they didn't let that stop them. They continued to do it. They performed the right activities. They performed those activities consistently, and they were persistent. They continued to do it.

Starting point is 00:41:34 And they got more comfortable as they went along, and they got better. And their conversion rates improved. That's how Keone put it. He said, my conversion rate improved. He's already got his second deal. And the biggest takeaway that they both got was, just go. Those were Keone's words. just do it.

Starting point is 00:41:54 Those were AC's words. They're on opposite ends of the country. They have never met and they had the exact same experience. That is their advice to you. Travel as far as you can see and when you get there, you'll see further. I mean, Keone's even teaching that exact same philosophy to his mom and to his sister. Why? Because it works.

Starting point is 00:42:17 I've been telling you since episode one, travel as far as you can see, and when you get there, you'll see further. I'm not going to steer you wrong. I never have. I never will. I promise. Now get out there. Find a seller with a problem. Present your solution and get paid for it.

Starting point is 00:42:33 Pretty simple. Not easy. As you heard today, they both had to work for it. So it's not easy. But it is simple. And it is worth it. The more you do it,

Starting point is 00:42:44 the better you get. And the better you get, the bigger your income becomes. All right? So that's it for today. Until next time, to your success. I'm Matt Terrio. Living the dream. You've been listening to Epic Real Estate Investing, the world's foremost authority

Starting point is 00:42:59 on separating the facts from the BS in real estate investing education. If you enjoyed this show, please take a minute to visit iTunes and share your thoughts. Thanks for listening. We'll see you next time here at Epic Real Estate Investing with Matt Terrio. This podcast is a part of the C-Suite Radio Network. For more top business podcasts, visit c-sweetradio.com

Epic Real Estate Investing - How these Two Epic Newbies Closed $5,000 and $14,600 Deals Last Week | Episode 79

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