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Today, I’m extremely excited to have Gavin Timms and Dustin Kircher onto the show to talk about a new program, REI Deal Closers.

Gavin and Dustin have been working on this program for six or seven weeks now, and they’re really excited to reveal it to you all today. Dustin has been doing real estate since he was in college, when he started working with student parent investors.

This is a great strategy to use near college campuses. The pitch is simple: “Instead of having your kid live in the dorms, buy a house. Your kid lives there for free, and you make money renting out the other two or three rooms.” Using this strategy, Dustin was able to make a lot of deals while still taking classes. After that, he got into rehabbing and flipping. He made his first solo deal when he was twenty, and he’s been hooked ever since.

Dustin has also had a lot of success with trustee sales. But he also learned the hard way that it’s important to have boots on the ground to check out a property before bidding. One time, he and a partner bought a property at an auction that seemed too good to be true. Turns out it was: there was no house on the lot! It had burned down in a fire. Soon after that, he got into the virtual markets, which brings us to the new program REIdealclosers.com.

Join Gavin and Dusting there, and they’ll partner with you and help you turn leads into cash. They want to take the leads that you consider lost or dead and do the work to bring them to close. When you join REIdealclosers.com, you’ll fill out a simple form, and then they’ll reach out to you and start working your leads ourselves. Partner with them and make some money together!

Watch and Learn:




Listen and learn:

What’s inside:

  • Strategies for working with student-parent investors.
  • Trustee sales and auctions.
  • Focus on one thing at a time, not the big shiny object deals.
  • The importance of networking and accountability partners.

Mentioned in this episode:

Transcription:

Download episode transcript in PDF format here…

 Gavin:  Welcome. This is the Real Estate Investing Mastery podcast. Hey, guys, welcome back with another episode on the Network podcast. I have a guest for another guest, a very good friend of mine. We're actually pondering on a few things as well. So I'm excited to bring him over. And just before I do, though, let me give you a quick giveaway. If you've not already go to REInetowrk.com/leadsheet. OK, this is really good. You can print 10, 20 copies. This is good for talking to sellers and taking notes. Remember taking a picture, giving it to your HVA and let them see our got to keep you out of CRM, OK, so you can focus on making money. But we've got something better than that. I'm going to bring to you today on the ways that we can help you. So this this episode is all about helping you if you want to partner with. So we're going to dove straight into. I am going to bring them over. A good friend of mine, Dustin Kircher. How are you?

Dustin:  What is going on Gavin, I'm doing good. Awesome.

Gavin:  I appreciate you jumping on. We've been working on a few things in the background, OK, which is if you guys want to have a little sneak peak, go to REIdealclosers.com. We've been working on something now for six, seven weeks, pretty excited to share. And we're going to jump into that into this episode. But before we do, we want to find out a little bit more about this in a lot of, you know, my story, my background. But I want to find out or I want you guys listening to find out a little bit more about. Dustin is a powerhouse in the real estate space. He's very humble, super nice guy. So I'm going to probably put him on a pedestal here. That is not I would say he's not used to. Well, he's not it's not in his comfort zone, OK, but he has a lot of deals, well over a thousand deals in multiple states. Super impressive. So we're going to learn a lot. So just tell us a little bit kind of your backstory. Why real estate? How did you get in and how we here today?

Dustin:  Yeah, so, I mean, real estate has been pretty much my whole life. I in high school was given the book that when I was about rich dad, poor dad. Right. Sparked my interest that I was up late one night and saw Carton's Sheets program and I bought it and my parents actually put out the money. Of course, back then I still have it. It's pretty funny. I won't ever sell that thing. And I used to tell my friends in high school I'm going to be a real estate investor. And that's that's what I wanted to do with our I'm a car mechanic. I gave a car mechanic thing a shot because I love old cars. And after a year working on a shop, I was like, oh, man, this is a killer. I smell like transmission oil every day when I was eighteen at the time. And, you know, take me two hours a rinse it all off and try and go out with friends at that point. So yeah, I went back to the real estate and starting now I went off to college and started studying real estate in college and business marketing. And I fell back into the real estate side again. My my grandma used to own a escrow company, and so she always talked to real estate. And then she found out I got back into it. She thought I was doing on the sales side by really wanting to for the investment, the development. She's like, I never you can't be a real estate agent. I'm like, I'm not. I mean, people know me. I'm kind of shy unless I get to know you. Well, then I'll talk out, but I'm kind of held back and big groups especially. So that was my thing. But I loved numbers and I loved figuring out how to make deals work. And so I did that back. I was twenty one, so I was now almost seventeen years right now. Yeah. So I've been in the business. I interned with one of the top agents and investors out in in Chico and learn what they were doing. And then I decided to get my real estate license to help kind of sell deals. I started working with student parent investors where I would go on the campus. At that time, I already knew how to analyze numbers. Right. So I would say, hey, buy a house instead of having them live in the dorms. You have your your kid live in one and then rent out the other two or three rooms and now you're there for free or making money while your kid is in school. And once they're done with their term, then sell the house to someone else. And so I quickly, quickly became the top producer rookie by selling that going around selling properties that way. So I learned that I learned more on the investment and then I partnered up with people that started rehabbing houses.

Gavin: Yeah, we're going to continue. I just want to go back. So any guys that have got kids going to college, did you just pick up on that? Right. Go and buy the house, rent all the rooms you're going to cash flow. It's like a mini Airbnb with probably cash flow even better, right? Because you renting by the room, especially depending on where you're going to college and then build all that money and then when they're done with college selling. So I guess the parent who owns that, Dustin, is probably living there for free while making money. Right. So the kids live in that free and the cash flow, right?

Dustin: Exactly. And then, you know, I just became friends with whoever the student was going to be. I mean, I was I was young at that time, too. I was still in college selling real estate. So I hadn't finished college. I was still selling real estate. So I make friends with them. And so when they were leaving, you know, I would also get the listing on that side or, you know, just pitching in my buddies, anybody that was out there. And so it worked well for me. Yeah. And I would doorknock I would also doorknock, student housing, other places I knew that their parents had bought for them and I would doorknock. And I said, hey, you know, how when are you guys graduating, blah blah. I specialize in this kind of and these sales and that's how I started doing a bunch of deals that way. And then. Yeah. And then from there, you know, I always had the interest, like I said, development and and rehabbing. So I started learning about that. I worked for Johnman and I was kind of like their bird dog. I found properties, analyze them, sent them to them. I got paid for it. And then I did my first deal when I was twenty for my own for it by myself. And it was out of state. It was in Atlanta, Georgia, as my first deal as Flip. And I was super scared. I had to buy it. I moved out there that was a contractor. And so he's like, I had I could do the work for you blah blah. So we and beyond just my first deal, it was the first time I was ever introduced to trustee sales. So we bought a trustee sale and we got it. We call it a penny over. And I was like, why didn't nobody, nobody bid on this property? And so I was like, oh, crap, did I overpay what happened? But the property was so overgrown on weeds and it was set back in a lot. It's kind of big a lot that people didn't think there was a property there or one of the investors stop. I was talking to my buddy who was the contractor who was like yeah. There was I didn't think there was a property here. I thought you guys were crazy that you bought this property, but it was so overgrown you couldn't see the house. And so we bought it. Plan was to keep that as for over a year and then say I'll sell it to avoid getting the short term capital gains. And I was selling it with a nice six, seven months because we got a super good offer. And then I was I was hooked after that.

Gavin: What did you make on that? Do you remember?

Dustin:  I think we each made thirty thousand nice. Yeah. So I mean I was a while that was two thousand four or something like that. So it was a while ago and I think that's two thousand eight. Yeah. But anyways, yes, I was hooked and then just started focusing more on that and then I worked for a couple of hedge funds again on the traditional real estate side and I sold one hundred eighty properties in eight months for these hedge fund. And then that led me to and that was that was crazy. I mean trying to set up a team real quick and sell properties all over California. But that got me into a position where I was asked to come on as the director of acquisitions for one of these hedge funds, one of the largest privately held investment firms, and manage a team of thirty plus agents, different admin staff, project managers. And we bought in the four years I was with them before leaving, we bought over five thousand homes all across the country. So it was that was a huge learning experience. I mean, I think that just leaves to be bound by knowledge how to handle kind of any situation and all the different title issues and all that stuff.

Gavin: And I mean, we've done a lot of work. I've never worked for a hedge fund, but I've sold to hedge fund and I don't know what it was like then, but especially now it's all about the buybacks. Right. And everything has to be in the window. And if it's like a square full out or it's a half a bath out or if it's one year out or whatever, it is a no go. Right. They are so strict on that by box and then they want a lot of them want to close with you. They want to close with they run the show, they pick the inspector on that time frame. So it's wholesalers like it was kind of like, what do you do? Because we've made a lot of money with hedge funds. But at the same time, we need to make sure that our contracts are good enough to allow us to give us enough time to get these things going, because it's very rarely, you call it closing seven days with them because they have the money, they have this whole process and they do not come off the process for anyone. This is it. The guy goes in, then it gets the pictures to the next guy, next guy, then the alpha, and then the next guy does this and then the next night. And then we got the final offer. And then now we're going to close or we're not. So all these things will I. But at the same time, I can move. I mean, one of our biggest deals we did in the hedge fund, I can remember Mississippi, we made forty three thousand on it. And anyone local, we can only make five thousand. Yeah. So how can you not hold out right now. I mean it was just like you have to hold out because we're not talking about a few grand here. We're talking like ten times the amount of money that you're going to make to a local person. You just have to follow that rule. So I can only imagine trying to me dealing with. Frustration is for my team, but I'm not working for them because a lot of the people that work, I don't know if he felt this way. Well, I our side, we got to it makes no sense. This is the way it is. So everyone in the chain knew it didn't make sense. But at the end of the day, this is this is the way it happens.

Dustin:  Yeah. I mean, it's like with any big corporation right there, if they have to make a policy change, it's a slow, slow movement because it has to go through so many apartments. Right. To make sure that it's right. And they're not screwing up, whereas a smaller company can easily pivot. I mean, it's the same thing. And just and we call the Dorio division. And just in that, our window was probably one hundred, one hundred fifty employees. And I was maybe looking over 40 or 50 of those employees. And any time we wanted to implement something, it was like that was I was I was in third in command or whatever I guess you would say there at that point. And to get stuff processed through that, you have to go through the partners and all that and you're just like, holy cow. Three months later and its finally being implemented. So, you know, I tried they were what we did was a little bit different. We bought big tapes from them, directly from the banks. We bought from trustee sale. We bought thousands from a trustee sale. And then we've made national news

Gavin:  Tell us for people listening because I should have picked this up earlier. Explain to us what a trustee sale is.

Dustin:  Yeah, trustee sale is when a property if they sell it at the courthouse. So in a non-judicial state, they sell it at the courthouse and it goes to the highest bidder based on opening bids or whatnot that the trustee wants. So that's that's the stuff you see or hear about, you know, three fifty three, fifty one.

Gavin:  Yeah, auction. You can't even blink or move your head. Right, because your bids in. Yeah.

Dustin:  Yeah, exactly. You can't you cannot miss it. You have to be sure to tune what's going on. And I had started with this company like we helped grow it. I was there from the very beginning and so we created all the systems. So I went out a couple of times before we hired runners. I was just thinking to myself, oh my gosh, I'm holding five hundred thousand right now in my hand because it's cashier's checks, right? I mean, no one could really rob me and use it because it's the name. I was thinking that at the same time you got like twenty people and it's super dead. And all of a sudden you hear this, the trustee number come up yesterday, the auctioneer come up called the trustee number. You wouldn't be doing anything for a little bit and all of a sudden you see twenty people just jump up or run to the auctioneer and then they start saying, you know, opening bid, blah, blah, blah. And so I'm trying to talk to the partner at this time and saying, OK, what we buy now, what's what's our max? No, it's our go. And then they kind of have to hear what's going on. So I go, three fifty, two hundred or whatever the bid amount. And it was just it was stressful. And I mean and then we eventually, you know, we were in like we did that throughout California. And so we were in five different counties throughout California bidding. So we hired runners and all this stuff. It was crazy because you only got to see or know if that property was going to go for sale. I mean, you had a list, but they don't go down until the day of or even hours before before the actual sale. So you have to have a team to like an hour or so before it's going to go out and try and look at the property, make sure it's not burned down. You're not just buying the land, right? Yeah. And that happened. I mean, that's happened. We just didn't have enough time to get to the property. It seemed like a great deal. The partner of the hedge fund wanted to I mean, she was very risky and just said, yeah, let's do it. And we bought it and found out that there was no house there. So, I mean, you talk about a loss of like, three or four hundred thousand dollars at the back. So that's crazy.

Gavin:  You know, how much how much money is being made to just make that call, right?

Dustin:  I mean, I can't disclose, but I used to run the PNLs. I can't disclose how much these guys made by the time I left.

Gavin:  A lot of money. Right. I think some of them, they go, OK, if I could do a percentage of this one percent of this on my own, I'm ready.

Dustin:  Yeah. And it made me think about when I I'm not push my salary or my commissions more. But anyways, so that was that towards, you know, like the last year being their trustee sales slowed down. The tapes for the polls were sold down and their their main business was commercial hospitality, apartment building, senior housing, stuff like that definitely kind of go into that. I wasn't really up for that at that time. So I was starting to flip again. In San Diego started doing that with partners and been doing that. And then about four years ago, I jumped into a virtual market and been buying houses, flipping there, wholesaling, rentals. And it leads me to do it now. And family kind of focusing on building a rental portfolio, working creative deals. Sub to's, lease options and on that side. So, yeah.

Gavin:  No, that's really good. So let's talk about, you know, obviously how we've talked about how we got here, but now let's talk about kind of what we've been working on. Right. We met probably four or five years ago, something like that.

Dustin:  When I when I was deciding to go virtual is when I reached out to you and Joe, because in all my deals in San Diego or just based on referral, like I have done marketing, I hadn't really set the teams. And so all I did was deals from agents I had hired in the past. So I didn't have to figure out that stuff. And then I was like, oh, man, if I'm going to go virtual need, you learn all this stuff. And he set up the systems to know how to do at that time. And the easiest way to do it and the quickest way to do it is reaching out to someone who knows how to do it. Right. Yeah. And Joe, yeah, he's good.

Gavin:  I mean, I remember you know, I know you did well. I think you did like 200, 220, I think thousand first year gross between you and partner. and again, the reason for REI Network, because your partner at the time doing that came through the group. And I think that's the importance of having a group in a coaching platform, because I was able to put two personalities together with what one did has and what one had to go. Look, you know, I'm not saying that you guys are going to be a good fit, but I think you should have the conversation and then you hit it off. Obviously made some money together, which was great. If you got one person on the ground and is going to go and see the house and run rehabs and then you got you that wanting to fit in the role, like learning the systems from a virtual level in the market. And when you can bring people in together, obviously magic can happen. So I know you did that and then obviously you don't create for a long time. But now that's kind of where your passion is, right? So when we talked two, three months ago, I get a lot of people reach out to me. Hey, can you look at this deal? Hey, can we JV and people are going to probably think I'm crazy when I say this, but I say I'm sorry, I can't because I don't have the bandwidth right now because I don't want to. It's just like when you're in I'm doing my own deals right now. We have three Flip's well, we've got two in closing for wholesale. We've got another one closed on the on June 1st. We got another one two weeks after that. So my real estate stuff is going and help in and then I'm obviously coaching and then all of a sudden people randomly reaching out saying, hey, do you want to JV? And I'm really sorry, I only JV with coaching clients. That's not for me to get you into the coaching program, but it seems to me the fairest way that I can actually manage it. Right. And we talked about this and so we came up with something where we've actually put like a team together. It's going to be four or five of us that are going to be put in a team together here at REI Deal. Go and check out REIdealclosers.com. Well, we will actually do a couple of things. We'll be on deals with you if you have contracts or even better still, a lot of you have folks on wholesaling, right? I'm obviously a coach and I'm the first to say focus on one thing, OK? Make something work before you get all the shiny objects. So here's the thing. What we want to do is we don't want to give you the shiny object. We want to give you an action, something that you can execute really quickly, which is basically as you're doing your wholesale deals or even if your folks don't credit you financing your learning. Right. You can give us your leads. Even your dead leads and we will work them and get you paid. Now, this difference, you can check it out. I'm going to bring Dustin in. It's going to give you some examples. Depend on it. It's a dead lead. We're going to get you paid something on it or if you've got a contract you want to JV. And we'll look at deals just in across the whole country, every state. We will look at a deal. So we're not excluding anyone in the. So tell us, Dustin dive in a little bit with kind of like, OK, cool. You can check our website out, REIdealclosers.com. Tell us what they're going to be doing and how this is going to work for them.

Dustin:  Yeah, I mean, it's exactly what you said. It's for those who have a wholesaling business. They're trying to learn that side of it. And, you know, I've been in their there seems to a certain point in your life you're working on growing that business, but you have these leads that don't make sense for you as a wholesaler or as a flip. Right. So when you throw them away or you put them in the back burner, you don't do any kind of follow up. Or even if you do, it's it's like a low motivation follow up. And usually that doesn't get you any kind of deal. The very low motivation, however, they do kind of ourself, but they're not willing to sell out the discount. That makes sense as a wholesale or flip. So I started working on those kind of leads and finding out, OK, what are the solutions that led me to the lease options, seller financing to sell to to know agreements, stuff like that. And you can actually turn some of these leads now. You know, there has to be some kind of motivation still, but you can turn these leads into deals. And I was trying to figure out, OK, well, you know, I had wholesalers bringing me stuff that I had just known who I was, how do I make this beneficial for everybody? And it was just really I'll pay you for your dead deal. If we close it, you get paid for it. That can go back towards marketing. You can focus on wholesaling or flipping whatever you're doing on that side and not have to stress out about these deals that aren't going anywhere or don't know how to structure or talk to the seller about that. So that's why we kind of came up with the idea, because it was with the amount of people that I reaching. You got an amount of people that are reaching out to me, it's like, OK, how do we join forces and make this bigger to help more people all over all over the nation? Really? Yeah, absolutely.

Gavin:  I'm very big as well. If I can't deliver what I like to do something when people are reaching out because I don't want to derail my team either. I have my team working and I want them to stay focused to get results. And all of a sudden the shiny object deals come in and we know a lot of them aren't deals. So you have some time to actually look and analyze them. So I think this is going to be kind of a game changer to be able to put something in place where we can help people. You know, we're not asking you, meaning the people listening to us right now to pay us or not pitching you anything to sell. This is just you doing your marketing dollars and trying to utilize where you have the mindset of no lead left behind, no lead left behind. And all you've got to do is and you can look at the website, but we have a form that you're going to fill out and follow some simple steps. It's going to come in, we're going to pick it up, and then we'll we'll start communicating with you and we'll work the lead ourselves. If you just want to hand the lead over, there's going to be like kind of flat fee that will pay it in. And if you have the contract and you want a JV and this could be even wholesale. Right. We'll look we'll look at any deals that you have, any creative deals sub to, lease, option, cash, deal to finance, whatever. We'll look at it and we'll go from there and give you some even some guidance, not too high or low, or we can make it work or whatever we can do with it. We'll be talking to you about it and see how we can grow that.

Dustin:  Yeah. As that guys, what you said that's always stuck to me is the known left behind. Right from the time I originally had met you guys and started my marketing, I didn't I mean, I did not let one lead slip through. My biggest concern was not following up with the lead because there is there is money. We're following up with the leads or even if they're two or three years old, we still close deals that are two or three years old because we're following our lead. And that's also now because I know how to structure these kind of deals. So, you know, I have friends. I just want to focus on wholesaling. That's fine. And they send me their deals now and I could follow the agreement. They were two years old. I mean, if they went back to him, I said, hey, would you consider terms well worth those leads? And that's kind of how we're doing. And as you mentioned, you know, even deal with the wholesaling or flipping of those. You know, if you just need a little boost to get over line to lock up a deal, you know, we have great closers on the team that can get these deals closed for you, get the contract and then we can joint venture on that side. So there's different ways on how to structure it. We'll have all the information on the radio closer's website. But I think it's it's going to be a great thing for a lot of wholesalers out there, and we want to be a little bit more passive about it.

Gavin:  Yeah, I mean, you know me right now, if I can handle it, I make some money. I'm all about it because that's the way it should be. You know, I actually changed my main model than I do in my personal business is wholesale. And Flip's right because I didn't have the team to do that. We're trying to focus on the creative. If you keep getting pulled in, you have to think this is what is this what I want to be doing right now? Something's got to give every decision everyone makes in this business, something else is going to suffer because you've got so much time. Right. And and I think you wholesalers that are making, you know, for two, three, four deals a month, I want to start doing fine. Here's the key. You still need to do two, three, four deals a month of wholesale and then an additional two, three, four deals of crane finance. What do you have the bandwidth in the team to be able to do that? Because there's no point you going? Oh, I used it for wholesale deals, but now day one and now being, well, creative, spend all my time trying to do it and then you make less money and you have more hassle. It doesn't make any sense. So this model is going to be, again, for anyone new finance. It needs to get over the line. And then any wholesalers that are not focusing on it, I'm saying in that lane you can partner with us and let's all get some money. Let's all get paid.

Dustin:  Yeah, sure.

Gavin:  Well, I appreciate it, but anything else you want to share while the lesson listening, any any wisdom from all your coming? What you've just told us blows my mind. You've done everything.

Dustin: I felt like I talk too much about myself on that one. Sorry about that.

Gavin:  No. That's what I want.

Dustin:  Seventeen years into, you know, a couple of minutes.

Gavin:  That's what I want though, because there's a lot of experience, you know, like I've been in the business, even in a business way longer than me. And you've done it more like different types of businesses than me. You know, I'm just stay in my lane and make my thing work. Right. But it's good. It's good to have that knowledge. You know, I'm I'm glad you know, that you're going to be part of kind of the group, REI Network. And guys check out REInetwork.com/apply We're going to be working with a close group of clients as well. So we're excited about that decision to be involved in some calls and we want everyone in our group to be doing deals and then scale into three full plus a month. That's the goal. Everyone coming in, we don't we don't take any more people wanting to do this part time. Right. We don't want anyone just trying to flash do a deal. We want to turn people into businesses and do this full time.

Dustin:  So, I mean, the one thing I would say just leave in with some advice is just, you know, connect with other people in your group and the group, you know, have accountability partners. Just reach out to them, see if there's anything you can help out with and then, you know, that's going to come around. They're going to want to help you out. Yeah. And just have an accountability partner. You know, I guess the role play I still role play with people and just to get better, and even though I'm not really handling the sales too much, I still like to get on the phone every once while with sellers and talk to them. But roleplay, you know, I don't know, Gavin, and the group is accountability, but find somebody else in the group that you connect with and have them as your accountability partner, your role play partner and just network that, because that's one of the biggest things in this industry, is and you're talking to someone that's probably a natural introvert. And I don't like to go out there and just network with people, but I do it because I also enjoy learning about the different personalities out there and why people do things like when you're out there, networking opportunities come.

Gavin:  So, yeah, I love that. And again, REI Network, it's right in the name. Yeah, the whole point, you know, and I paid Olin because I'm passionate about it because that's how I started. It's networking and building relationships and that goes throughout the whole business, building relationships with your can people in the group, building relationships with your sellers, your buyers, your time, it's your turn, you mortgage brokers, all of them people, because that is what makes the world go round and everyone should be doing it. Like I said, go and check out REInetwork.com/apply, like we've changed our format and our coaching is going to be killer. All my one to one guys and gals. They love it. They think it's great we've changed. It means we're active most days. Look at a lot of accountability, a lot of calls that you could be on to get deals closed. So there's zero excuses. OK, we're showing up daily doing it. And and if you're in the group for the investment you're going to put in, we're confident we can ten times it. But anyway, Dustin I appreciate you. We're going to have people reaching out. So I'm excited to start working with some of these people that we've got testimonials, guys. Well, check the website out. We've actually been working you know, we selected a few wholesalers that we've been partnering with to get some deals done just to tweak in the systems to make it efficient, ready to launch this. So we're excited. Dustin, appreciate it. Enjoy the rest of your day and we'll see you soon.

Dustin:  Thanks Gavin, appreciate it.

Gavin:  Bye bye.

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