Real Estate Investing Profit Masters by Cory Boatright

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Today we’re joined by Daren Blomquist, data expert and Vice President of RealtyTrac. He graduated from Trinity International University with a degree in English Communications, in the hopes of becoming a newspaper journalist. However, in 2001, he started with RealtyTrac thinking it would be a small, internal publication. But to his surprise, he ended up sticking with it ever since.

He’s directly responsible for the creation of the company’s U.S. foreclosure market and sales reports, and they’re sided by hundreds of media outlets nationwide, like: CBS, ABC, CNN, Fox Business, and USA Today. He’s been quoted in hundreds of national publications like: The New York Times, Bloomberg, Forbes and The Wall Street Journal. They also work closely with numerous government agencies at the national state and local level, and he’s a highly sought after speaker at industry events.

“Whenever I let go of control, I get more of it. It’s almost like holding on to a cactus: the tighter you hold on, the more it hurts you.”

Today is really all about data analysis, how and why RealtyTrac came to be, and some ups and downs Daren faced while the company was growing. We talk about the importance of handing off tasks as today’s Profit Master’s Investment Strategy, and the positive results that come from passing off responsibility and control. Daren tells us this is his best piece of advice to running a successful real estate data team.

We discuss a great strategy that we have observed in successful investors, which entails buying the foreclosure rights on houses before they can be repossessed, and are able to do this by using the information provided by RealtyTrac.

“People give up on something quicker than they should instead of giving it time to succeed.”

Lastly, we get a best-kept secret about the RealtyTrac website, and how you can use it to dominate the foreclosure market. You’re basically creating lists of people you want to market to, so this is just as useful for marketing as it is for investing and real estate. So go ahead, create a free account, and check out the millions of records we have on file, today!

Daren loves hearing from his audience. So, if you’re an investor, e-mail Daren at daren@realtytrac.com, and tell him your stories and what you’ve been seeing in your market.

“Even when I don’t feel like I’m making as much of a difference as I’d like to, just continuing to believe in it and continuing to do what I know—is what I should be doing.

Links and resources:

 

Ask Cory A Question

Want to get in touch with Cory and ask him your most burning Real Estate Investing question?  We’ve made it super easy for you.  Just head over to our Ask Cory A Question page and start recording.  Cory will play your question live on an upcoming show and answer it personally.

Who Do You Want To Hear From?

Name some folks I should get on the show! Hit me up: support@realestateinvestingprofits.com and I’ll do my best to get them on.

Did You Get Your FREE Investing Guide?

TEXT the word PROFIT (38470) to immediately sent Your FREE Investing Quick Start Guide!

JOIN The Elite Real Estate Investor’s Board of Directors

http://JoinMyMastermind.com

Connect Here

Please check out our website, realestateinvestingprofits.com for the “Down and Dirty” Ultimate Real Estate Investing Quick Start Guide download.

Join us on the Real Estate Investing Profits Facebook site too!

Direct download: Episode_15_Daren_Blomquist_VP_of_RealtyTrac.mp3
Category:investing -- posted at: 6:00am EDT

Last week we had Dave Payerchin, and this week we have his partner RJ Pepino. Together they run Columbus Turn Key Houses. They’re an extraordinary company that provides incredible returns on profits for doing your investing in Columbus. RJ has closed over 150 real estate transactions, he’s an expert in the Columbus market, he’s had formal training in deal structuring and creative financing, and he also has a B.A. in Marketing from Youngstown State University.  

“Don’t wait for opportunities. Create opportunities.” – RJ Pepino

RJ went from selling cellphones at AT&T to being the manager, to fixing and flipping houses; so he tells us all about his transition, and then tells us a bit about how he learned the problems associated with not having proper contracts, the hard way. He shares his advice for running a successful business, and describes the importance of hiring and delegating people to help you run yours successfully.

Today’s topics include:

  • How RJ helps run the company with Dave
  • Who he is and what his expertise is in real estate.
  • Four different ways of getting money as a landlord
  • What made him want to get involved in real estate
  • RJ’s breaking point to entering real estate

“You don’t want to make any handshake deals in real estate.” – RJ Pepino

Today’s REIP strategy: “When you’re talking to a seller, you have to ask good questions. For example, some of the questions we ask if they’ve called in for a property are: “Do you have any other properties for sale?” “Are you in the market to buy properties?” “If you’re not in the market for our price point, do you know anyone that is, and is wanting to sell?”

“Pressure will crush you if you fold, but you have two choices: you can either flex or fold. And personally, I like to flex.” - RJ Pepino

Thanks for listening, and be sure to pay attention so you can find out how to get your free real estate investing guide today.

Links and resources mentioned:

 

Ask Cory A Question

Want to get in touch with Cory and ask him your most burning Real Estate Investing question?  We’ve made it super easy for you.  Just head over to our Ask Cory A Question page and start recording.  Cory will play your question live on an upcoming show and answer it personally.

Who Do You Want To Hear From?

Name some folks I should get on the show! Hit me up: support@realestateinvestingprofits.com and I’ll do my best to get them on.

Did You Get Your FREE Investing Guide?

TEXT the word PROFIT (38470) to immediately sent Your FREE Investing Quick Start Guide!

JOIN The Elite Real Estate Investor’s Board of Directors

http://JoinMyMastermind.com

Connect Here

Please check out our website, realestateinvestingprofits.com for the “Down and Dirty” Ultimate Real Estate Investing Quick Start Guide download.

Join us on the Real Estate Investing Profits Facebook site too!

Direct download: Episode_14_RJ_Pepino_Deal_Master_in_Columbus_Ohio.mp3
Category:investing -- posted at: 7:00am EDT

Today we have another incredible guest: his name is Dave Payerchin. We met at the Collective Genius Mastermind, and he’s a part of Columbus turnkey houses. He and his partner RJ Pepino specialize in networking, raising capital, system automation and developing and maintaining those relationships.

More specifically, they deliver superior service for competitive pricing in Columbus for Ohio investors, and their team understands every aspect of turnkey process from acquisition to resell. So they’re equipped with knowledge and infrastructure to provide a seamless investment experience and a quality product whether it’s investing, lending, buying, selling, property management, or even the federally subsidized rental properties section 8 and they’re just an incredible team.

Dave’s company focuses primarily on single family homes, and sometimes up to two to four units. It’s a heavy cash flow market, and right now he’s doing great. He didn’t get to where he is without a fight, however, and that’s one of the things we discuss. Some of today’s other topics include:

  • How you can take control of your life with your attitude   
  • Why he’s developing the ownership mentality
  • Dave’s best Profit Masters investing strategy
  • The story behind how Dave and his partner have reached success as a team
  • Dave’s top reads and business app picks  
  • How real estate became less about the money, and more about self-development

We also dove headfirst into Dave’s past. He was a self-proclaimed glorified telemarketer, but explains to us the reasons why that job was actually a big learning stepping stone for him. He tells us that after making $180,000 in his first year in real estate, he was filing for bankruptcy and signing wallet houses shortly after. He mistook debt for revenue, and mistook debt in leverage, so listen up, because as we know, the smartest way to learn is from other people’s mistakes.

Our guest really emphasized the importance of staying positive and attracting what you want to achieve in life with your mind and your attitude. This is the breaking point for so many people, because there’s nothing stronger than your mind; what your brain says, goes. He explains how this and his spiritual development have been fundamental to his success.

“All of life is an internal battle.”

Another great piece of advice we were given today was to surround yourself with people that compliment your weaknesses, and build you up in your business. Personally, he talks about how his partner really helped him overcome his adversities; enough so that Dave quit smoking and drinking, and is now living a much healthier and happier lifestyle.

For more information about their business, you can visit the website in the links below, or e-mail them at info@columbusturnkeyhouses.com. If you’re interested in buying great cash flow properties in the Columbus area or have some money you want to start gaining interest on, don’t hesitate to shoot us a message.

Make sure to stay tuned for our next episode, where I’ll be interviewing Dave’s awesome business partner and best friend, RJ Pepino.

 

Links and resources:




Direct download: Episode_13_Dave_Payerchin_Turnkey_Master__in_Columbus_Ohio.mp3
Category:investing -- posted at: 6:00am EDT

I have an absolutely incredible investor today named Mitch Steven, out of Canyon Lake, TX.  He’s someone I met at the Collective Genius Mastermind. He’s a total rock star, and has been self-employed since 1996, having purchased over 1000 houses in the San Antonio area. He’s also a self-taught high school graduate, and he never stopped learning.

He specializes in owner finance properties to individuals left behind by traditional lending institutions and gives new life to properties that scar the neighborhoods, so he’s perfected the method of achieving cash flow without being a landlord or rehabbing properties.

He’s also mastered the art of private money, and the classic nothing down deal. This is someone with over 1100 doors in storage facilities breaks down his strategy, and you’re going to love it.

Today we dive into:

  • Why he started a career in real estate
  • The one strategy that made him a multi-millionaire
  • What he was doing before real estate and how it affected his current success
  • His worst deal and how he handled it like a pro
  • His Profit Masters Investing strategies and why they’re fool-proof
  • How he got good at saying “This isn’t what I do”
  • Why you should learn to delegate

Mitch is knocking if out of the park, currently dealing with a lot of owner-finance issues. We go through and talk about what he specifically focuses on in real estate. He does everything, but we talk about his main gigs and why he chose real estate as his main endeavor.

Finally we discuss establishing owner-finance value, creating your own value and owner finance strategy. We broke it down into how to get your owner-finance price, FAK funds and the importance of not over leveraging.

Make sure to listen closely and see how you can get your free investor guide. Thanks for listening, and check in soon for another awesome episode.

 

Links and resources:

Direct download: Episode_12_Mitch_Stephen_Cash_Flow_Owner_Finance_Genius_in_Texas.mp3
Category:investing -- posted at: 6:00am EDT

I’ve got someone really special today, and her name is Lindsey Jean. She’s president of “High Heels and Hard Hats” and she’s also a part of Cash Cow Know How.

Lindsey really knows her stuff, and I think you’re going to be blown away by how she talks about the mindset shifts she’s had to go through in life and how she’s taken all those negative things and become a rock star, and one of our profit stars!

Before being in real estate, Lindsey was one of the best horse trainers in the country. Between working for a Forbes list billionaire and all of his wealthy clients, she definitely learned a thing or two from them along the way.

Actually, they’re the reason Lindsey began in real estate, which we’ll talk about during the show. She started out 12 years ago as a broker and later moved on to being an agent. She’s now involved in wholesale and fix-and-flips. Some of the topics we covered were:

  • Why she became a real estate agent
  • Who her biggest influences in life were and why
  • Lindsey’s top profit master investing strategy
  • Why mentors are a must
  • How to run a successful real estate business

We’ve talked about limiting beliefs on the show before, and we skimmed it again today when Lindsey talked to us about the piece of advice that’s gotten her to where she is today.

We also dive into some more personal aspects of Lindsey’s day-to-day life, like her favorite book, business app and quote, and what her morning routine looks like.

Lindsey also told us a couple of pretty cool stories in today’s episode, so stay tuned and let us know what you think!

If you want to get in touch with Lindsey, you can send her an email at support@cashcowknowhow.com.

We really hope you enjoy today’s episode, and if you do, please be sure to tell us by giving us an  iTunes review.

Links and resources:


Today we have an amazing guest, his name is Josh Stech. Currently running a company in San Francisco called Lending Home, as VP of Business Development, Josh graduated from Stanford, and transitioned from fixing and flipping to having over 170 employees under his wing.

We’ll be talking about quite a few different things, including the whole story of how Josh got started with Lending Home, how he did it, and his best tips for reaching success and staying there. Here are some of the things we went over:

  • Josh’s area of expertise in real estate and what his main focus is
  • How Josh got involved with real estate
  • Who influenced Josh the most and how it changed his business strategy
  • Josh’s newfound profit strategy
  • How to dive into being a broker with Lending Home
  • Cory’s hilarious encounter with Mickey Mantle

Josh really gets into all the ups and downs that he had while trying to build up his company and reputation, and also gives a lot of great advice for beginners or really, anyone wanting to up their game as an investor and real estate person. This included tips on:

  • Why having a mentor is important and what to expect
  • How you can stayed motivated during tough times
  • What books to read and what apps to use for the most productivity
  • How to focus on your goals and stay on track
  • How to have a good business practice

 

Between funny stories, great advice and opinions, and the best real estate tips around, you can be sure to have a great listen with this one. Be sure to check us out on social media and don’t forget to check back soon for another awesome episode.


Today on Real Estate Investing Profits, Profit Masters Podcast, my guest is Mike Hambright of Flipnerd, an online site which allows real estate investors, vendors and clubs to list and view properties and provides access to many buyers.  Mike is also involved with HomeVestors, a  60-member strong franchise site  where he also serves as a mentor to other franchisees.  Mike really likes to rehab properties because he loves to see the transformation and also believes rehabbing offers the greatest financial success.  

 

Mike explains he was involved initially in the corporate world and later joined  a startup that he eventually became an affiliate with.  He reached the point where he was faced with going back into  has the corporate world doing something on his own.  He decided he would rather control his own destiny and began investing in real estate around the Dallas area.  He became a HomeVestors franchisee and worked very hard as he recognized that failure was not an option.  

 

Mike’s Profit Master Investing Strategy:

If you are wholesaling, it is especially important to have access to many buyers.  If you rely on the same people over and over they may come to expect a customer discount or may eventually become disinterested.  Mike says at Flipnerd, they have built the largest off-market listing platform for wholesale dealers.  At the ten thousand member mark, Flipnerd supplies that large number of potential buyers.

 

In offering advice for running a successful business, Mike believes you need to treat it like a business, get systems in place, contacts developed and a network going.  If Mike had to start all over again, he would likely collaborate more early on and not be so worried about thinking of everybody as the competition.  He also believes you need to learn what you are and are not good at and hire somebody to help in the areas where you may not be as good or don’t have a great interest.  




Favorite Quote:

It’s hard to beat a person who never gives up - Babe Ruth

 

Favorite Book:

Think and Grow Rich - Napolean Hill

 

Favorite App

Asana - project management tool

 

In discussing why he does what the things he does, Mike explains that over time the reasons have changed.  Initially it was to support his family.  Now the reason is to make a difference.  Mike says he knows what real estate investing can do to give people true financial freedom.  Mike says he wants to build something that can make a positive influence on others.  

 

Mike invites you to join Flipnerd for free and he hopes you’ll also stop by the Flipnerd Facebook page.  The gates have just opened and you can register for the REI Power Summit .  Over 50 speaks will be part of the online summit which will allow participants to watch live to interact with speakers and other attendees, or view it over the next 12 months.

 

Please check out our website, http://realestateinvestingprofits.com for the “Down and Dirty” Ultimate Real Estate Investing Quick Start Guide download.  

Join us on the Real Estate Investing Profits Facebook site too!

 

Direct download: Episode_9__Mike_Hambright_Homevestor_Flipnerd_in_Texas.mp3.mp3
Category:investing -- posted at: 6:00am EDT

Brian Ellwood used to shake the hands of strangers and ask them what they did for living.  He felt trapped in a  job where he had no control of his own time.  His strategy paid off and propelled him into property flipping and rental property investment.  On this episode Brian shares his story and provides really valuable insight along the way.

Brian begins by discussing how he got started in the business.  A stranger gave him the opportunity to get a lead for him.  The guy closed on the deal and gave Brian a one thousand dollar check.  At that moment it clicked for Brian and he realized there was a way to get paid for the value you add,  instead of your time.

As far as an example of a mistake, Brian said for him it was not hiring someone soon enough to do what he does.  He hired an acquisitions manager to deal with sellers and within months his business tripled.     

For a Profit Master investing strategy, Brian talks about the book, Profit First by Mike Michalowicz.  The traditional way to look at things is by sales minus expenses equals profit, but the book flips the script by using a different formula of sales minus profit equals expenses.  Brian has put this theory into action and he explains how it helps him watch his profitability stack up while forcing him to be more frugal.  

Brian offers his keys to running a successful real estate business.  He believes in running it by the numbers and explains it in several points including:

  • Define the key numbers that a business needs to be successful
  • Assign numbers to the employees who handle those areas
  • Hold a weekly scorecard meeting where everybody is accountable for their part
  • If somebody is not performing where they should be in the numbers, determine why

Brian offers the advice of:  shift your focus from looking for a job to creating a job and then, in theory,  you’ll have more money and with that learn to invest well in one niche.  Entrepreneurship and investing is the ultimate combination for him.  Brian says he most enjoys helping other people achieve their goals and remove their roadblocks.  As far as why Brian does what he does, he says he feels driven to improve himself every day and he loves to learn and create.  

Brian has a blog and podcast available on his website, ignitelifestyledesign.com.  He hopes you’ll stop by his website and reach out to him.

Please visit out our website, http://realestateinvestingprofits.com for the “Down and Dirty” Ultimate Real Estate Investing Quick Start Guide download.  

Join us on the Real Estate Investing Profits Facebook site too!   




Direct download: Episode_8__Brian_Ellwood_Ingite_Lifestyle_Design_in_Colorado.mp3
Category:investing -- posted at: 6:00am EDT

Episode 7:  Mike Cuevas Real Estate Marketing Dude with Systems in Chicago

 

This week Cory had the opportunity to sit down with Mike Cuevas, known as ‘the Real Estate Marketing Dude’. Mike knows how to get the systems in place and get the phone to ring.

 

INSERT LINK TO YOUTUBE VIDEO

 

Mike has been in the real estate business for 12 or 13 years, starting out as an agent learning the ins and outs. From there, he entered the short sale game and ran one of the largest short sale groups in the country. He created a short sale model , assembled a team and at one point was handling 25-35 closings a month for two years straight. “The only way you’re going to run something like that is by setting up systems and having the right team in place”.

 

Building Processes and Assembling Teams

 

QUOTE: “You don’t use difference recipes every time you make a meal. Same concept applies - use the same recipe, the same process, the same systems – just repeat and scale.”

 

Marketing and sales go hand in hand. You can’t be successful without both but you don’t have to do it all alone. Focus on your own strengths and assemble the right team. Creating processes and systems are the key to getting the job done.  Understand what you’re good at and outsource the rest.

 

Quote: “You are the average of the five people you surround yourself with.”

 

One of the biggest missed opportunities I see as an investor is using their real estate agent for their marketing. You have to do a lot of marketing to find the deal that works. The investors who are licensed can team up with the marketing for their real estate agents. 

 

QUOTE: “There is no better lesson than experience. Get out from behind your desk.”

 

Mike’s advice? 

 

One of the greatest lessons Mike’s learned is that there is no better lesson than experience, but you have to start somewhere. Build the business. Be you and do what you want to do, but you have to put in the work.  Learn from your mistakes.

 

Let someone walk you through the ropes. Get a mentor, someone who’s been around the block a few times.  Go out there shake hands and talk to people. Ask questions.

 

You have to have a ‘why’ to be successful. Mike works for his family and is grateful for them and the opportunity to have his own thoughts and work for himself doing something he loves. These are the things that lead to success. 

 

Recommended reading this episode

 

Now Discover Your Strengths”, Marcus Buckingham

 

Entreleadership”, Dave Ramsey

 

Start With Why”, Simon Sinek

 

Recommended Apps

 

Mike does the majority of his business on the web. You can find him teaching real estate on his website http://www.Realestatemarketingdude.com or connect with him on social media.  Find all of his handles at his website.

 

Don’t forget to visit realestateinvestingprofits.com for more Real Estate Investing Profits.  Don’t forget! If you haven’t downloaded your free real estate investing quick start guide. Go ahead and text on your phone the word ‘profit’ to the number 38470 and you will receive a link to download.

 

 


Our guest today is Alex Pardo, a business partner and friend of Cory. Alex works out of Miami, Florida and use to work as a GE Financial Analyst. Now he focuses on real estate systems and how they help him flip houses in his area.

 

Alex began his career in 2005 with a short sale job. He has been involved in numerous deals, but he says his expertise is wholesaling. The last 3 years his focus has been creating a team so he can step away from the everyday process. Alex believes wholesaling should always be at the center of Real Estate.

 

At the age of 21 Alex took a job with General Electric and found he wanted to be his own boss. He found Kawasaki’s series about real estate and started working in the business. Alex suggests getting a coach as soon as possible. He personally waited 3 years to find a mentor or a coach and he knows he made a lot mistakes and lost a lot of money in those 3 years.

 

Alex says his biggest mistake happened in 2006. Alex and his partner bought a half million dollar property and decided to flip it. They took out a loan and lost 90 thousand dollars in the deal. After the disappointing deal Alex learned two big lessons.

 

  1. Know your market.
  2. Stick to what you are good at.

 

The strategy Alex says works best for him is aggressive pricing on wholesale deals. He remembers a deal that was worth 300 thousand and sold it for 247 thousand because of the location of the house. Don’t be afraid to ask for more money if the property is located in a desirable neighborhood.

 

Alex suggests that newcomers should ask themselves what they like about the real estate business and focus on that aspect. Then find a mentor, and spend a little money so that it will be a more serious investment. Don’t be complacent and keep marketing and networking. Focus more on personal development and become the person you want to be.

 

Recommended reading this episode:

 

Think and Grow Rich, by: Napoleon Hill

E-Myth, by: Michael Gerber

4 Hour Workweek, by Timothy Ferriss

 

Recommended apps:

 

 

Alex thinks the greatest lesson he has learned is surround yourself with the right people.  He credits his family and his faith with the why he is in the real estate business. He enjoys helping people and providing for his family.

 

To contact Alex visit propertywholesales.com or visit alexpardo.com/mentoring. Visit realestateinvestingprofits.com for more Real Estate Investing Profits.  Don’t forget! If you haven’t downloaded your free real estate investing quick start guide. Go ahead and text on your phone the word ‘profit’ to the number 38470 and you will receive a link to download.

Direct download: Episode_6__Alex_Pardo_Running_a_House_Flipping_Machine_in_Florida.mp3
Category:investing -- posted at: 6:00am EDT