Live Without Limits Through The Power of Real Estate Investing!
My title/escrow company is an important member of my team. And just like any other team member, I always do an interview before bringing them on board. Specifically, I ask them 9 questions that determine if they will be asset that helps us close deals more quickly and easily or if they'll be a hindrance. In today’s NLREI podcast episode, you’ll learn how to screen for an investor friendly closing company!
Hiring family members can be complicated. On one hand, you don’t want your relationship to be negatively impacted by work. But at the same time, you also don’t want to make any decisions that could compromise your business. I’ve hired a few different family members in my business over the years, which has helped me come up with some ground rules aimed at striking just the right balance between the two. Checkout today’s NLREI podcas...
Bad marketing can ruin a wholesaling business. You end up with too few leads that cost too much money and sellers can easily pick up on that kind of desperation. In today’s NLREI podcast episode, you’ll learn about the 5 most common marketing mistakes I see wholesalers make, so you'll know how NOT to run your marketing campaigns!
Some sellers are motivated to accept a lower price. Others are motivated to accept favorable terms. Either way, there’s an opportunity to put cash in your pocket today and/or add one more asset into, what’s hopefully, your growing real estate portfolio. In today’s NLREI podcast episode, you’ll learn about 5 types of owner financed deals that will explode your net worth!
I’ve seen wholesalers make some big mistakes when it comes to partnerships that have cost them their business, their friendships, their marriages and more. But I’ve also seen several successful partnerships where both parties were better off having worked together. So what’s the difference between a partnership that works and one that doesn’t? It all starts with making sure the partnership is formed for the right reason. Checkout t...
Think about the last major change you experienced in your wholesaling business. It could be a personnel change, a change in business strategy or a change in market. Whatever it was, would you say things turned out better as a result? I hope your answer is yes because part of the fun in business is converting the unexpected into new opportunity. Checkout today’s NLREI podcast episode to find out how to effectively deal with change i...
Sometimes you NEVER really know how far a seller will come down in price until you walk away. We once bought a house in Victorville, CA that was worth about $90K. There were squatters living in the property and it was in very poor condition as a result. The seller originally told us they wouldn't go any lower than $70-80K, but it honestly wasn’t worth the trouble at that price, so we told them we were no longer interested. When all...
A client of mine recently spent $7,500 on a mailing campaign, but didn’t do a single deal from it. Has something like this ever happened to you? When it happens in our company, I usually look on the sales side before making any conclusions about marketing. Meaning, I review all the leads and see how they were handled, and whenever I do, I usually find a little juice left to squeeze. In today’s NLREI podcast episode, you learn how I...
Have you ever spoken to your buyers list about a property before you had it under contract? I get it. You want to avoid wasting anyone’s time by gauging interest before locking it up. But this is actually a big mistake. Checkout today’s NLREI podcast episode to find out why you always lock it up first and what can go wrong when you don’t!
Has a buyer or seller ever tried to re-negotiate with you at the closing table? It’s happened to us several times. When I first got started, I was quick to concede in these situations, but today, I focus more on creating win-win scenarios. Checkout today’s NLREI podcast episode to find out how to become a master at last-minute negotiation!
Are all of your wholesale deals stuck at right around $10K? Think about it...out of all of the sellers, all the different situations, all the different property values, not to mention the different buyers...how is it that you keep ending up at $10K? The answer comes down to the one thing that each of those different variables have in common, which is YOU! Checkout today’s NLREI podcast episode to find out why you’re stuck doing $10...
One of my joint venture partners recently came to me because he was stuck at the $60-80K a month range. Like many other wholesalers trying to reach the next level, his first instinct was to generate more leads by spending more on marketing. But I noticed when we did, our R.O.I. started to go down. So I knew it was time to re-focus on the fundamentals, which quickly resulted in a $50K deal that didn’t cost us another dime in adverti...
The money you make wholesaling is taxed by as much as 50% depending on where you live. But the money you make investing in real estate using an IRA is taxed differently, allowing it to compound much more rapidly over time. In other words, IRAs provide the unique opportunity to legally and ethically keep more of your own money. In today’s NLREI podcast episode, you’ll learn how to invest in real estate using an IRA!
The secret to running a profitable mobile home park is treating it like a business. It’s not just about owning the land underneath. You need operating principles that maximize opportunity while reducing expense. In today’s NLREI podcast episode, you’ll learn the 7 easiest ways to raise a mobile home park’s cash flow and value!
I once hired an acquisitions rep who got off to a great start. He quickly picked up the No Limits Sales System training and was off to races. He kept his pipeline full and was closing deals left and right. One month he earned over $50K. But then his performance started to dip. His pipeline wasn’t staying full and all he could do was blame the leads. So I intervened. Checkout today’s NLREI podcast episode to find out how I coached h...
I hear lots of different reasons why wholesalers aren’t succeeding. Things like: “The market is too competitive.” “Sellers want too much for their properties.” “The marketing is so expensive.” But none of these excuses changes the fact that more people than ever are making money from wholesaling and their checks just keep getting bigger and bigger! If you’re struggling right now, then maybe what you need is a change in perspective....
Have you ever had to ask a seller for a sizable price reduction in order to move forward on a deal? We recently got a house under contract only to find out we needed a $100K+ price reduction after seeing the inspection report. I used to approach these re-negotiations by simply laying out everything wrong with the seller’s property in attempt to justify my new lower price. But today I use a very different approach. Checkout today’s ...
Not all marketing channels are created equally. Some channels are very expensive while generating a relatively cold lead in terms of the prospect’s affinity towards you. But not the marketing channel you’ll hear about in today’s NLREI podcast episode. This channel is not only inexpensive, but it also generates much warmer leads. Here’s how we recently used it to close two $40K wholesale deals from the same seller!
What are some of your current challenges in business? Do you have more time than money to invest right now? A joint venture partnership is a great solution to this problem. Or maybe it’s the other way around and you have more money than time. A lot of top producers aren’t interesting in working for someone else, but they are interested forming a mutually beneficial partnership. Joint ventures have solved a lot of problems in my bus...
Have you ever had one of those days where you felt completely overwhelmed by the number of tasks you needed to accomplish? Yesterday was one of those days for me. Everyone on my team was feeling completely overwhelmed, including me. But as the leader of my organization, I never want my team to see me sweat. Instead, I want to project clarity, focus and strength so people naturally follow my lead. This all starts with a simple proce...
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