A fellow Cardinals fan is my special guest in this episode. That’s because R.P. Murphy (who goes by Murphy), is from right here in the St. Louis area. For years, I’ve seen his ads all over CraigsList and around this community; now I finally get to meet him.
Murphy’s been doing lease purchasing for almost as long and I’ve been in the investing business. He started out as a mortgage broker, then became a licensed real estate agent. He was doing okay as an agent, but once the 2008 bust hit, he realized he had to change strategies to survive the crash.
After the crash, all of a sudden thousands of people were unable to qualify for conventional mortgage loans. That’s when he came up with the idea of building a business around lease purchases. (I call them lease options, but Murphy calls them lease purchases. But all the same thing – just semantics.)
Murphy has refined his business to a well-oiled, smooth-running machine that is highly successful. You’ll hear how he learned — by trial and error — what to do, and what not to do to benefit his bottom line.
This guy answers his own calls— something that is extremely rare in this age of technology. And he doesn’t work with a large staff. He has one other agent that he teams up with and that’s about it. No matter how you look at his business model, you can’t argue with his success.
Listen and enjoy:
- Murphy’s simple business model
- As a Realtor, Murphy’s penchant for working with buyers
- How and when Murphy came up with the lease purchase plan
- How Murphy funnels potential buyers into his office for an appointment
- How Murphy makes money on each deal
- How Murphy and his agent team member work in tandem
- How contracts are structured
Mentioned in this episode:
- Joe’s podcast on iTunes: Real Estate Investing Mastery Podcast
- Joe’s Coaching Program: Joe McCall Coaching
- Podcast Hotline: 636.255.8815
- Free Fast Cash Survival Kit: Real Estate Investing Mastery
- Murphy’s website: Murphy Home Solutions
- Murphy’s email: RPMurfy@gmail.com
- Live Comm
What are you thinking?
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