Most people who buy courses on how to start businesses fail because they don’t take action. Real estate takes a ton of hard work and determination. You have to do a lot of marketing and make a ton of offers and you can’t give up before you start seeing results. Some people like to complain that wholesaling is hard and blame the real estate gurus for telling people that it’s easy. I say people need to stop complaining about the competition, put your big boy pants on and figure it out!
Here, I run down my list of the top ten things you must do if you want to succeed in real estate:
- Spend money on marketing.
- Commit for at least six months.
- Never blame others for your lack of success.
- Be willing to work hard.
- Treat this like a business, not a hobby.
- Become a master of sales/talk to five sellers per day.
- Make offers.
- Follow up.
- Become a student of the game.
- Lead with value.
Listen and learn:
- The top ten things to do if you want to succeed in real estate
Mentioned in this episode:
Download episode transcript in PDF format here…
Joe: Hey, what’s up, guys? Joe here, REI in your car. Hope you’re doing well. I got a little rant. Nothing like stirring the pot a little bit, causing a little controversy. But I’m not going to be whining and complaining. You know, it’s just it is what it is. But I want to talk about and by the way. I was thinking of maybe I should start a new series called Land Rant because it kind of rhymes, but it’s stupid. That would be dumb. Anyway, I want to complain about something too, Kind of, but really just kind of shine a light on something that I think needs to be shown or shined on. Right. And it’s this. Listen. Wholesaling is hard. Land investing is hard. Nobody said it’s easy. Now maybe make it sound easy. Hold on one second as I navigate this crazy, fast intersection. All right. So it’s hard. If you’ve seen my webinar where I sell my land investing course, I start the webinar off at the beginning saying something along the lines of, Listen, I know you guys, you you’ve seen the pictures before where somebody promises that it’s all going to be easy, push button money will fall from the sky. But it’s not like that. I say this in my webinar, in the pitch at the beginning, in the first 5 minutes, you’re going to have to work on this thing, right? And in fact, I’ll be honest with you guys, most people fail. I see that right in my webinar at the beginning. Most people fail. Most people who buy any kind of make money business opportunity thing are going to fail at it and are not going to succeed. Why? I don’t know. They just don’t take action. And it’s not just like with any other business. It’s going to take work. It’s going to take determination. You’ve got to do a lot of marketing. You got to make a lot of offers. It takes work.
Joe: All right. So here’s the thing, guys. Uh, and, uh, okay, so what? What doesn’t take work? Of course it takes work to make money. So what started this whole thing just kind of teed me off a little bit. Although I respect these guys that were on this podcast, they were talking about this and kind of complaining that, oh, yeah, wholesaling is hard. It’s not, as all the gurus say, it’s easy, but it’s not. It’s work. Well, yeah, it is. Hello, Mr. Obvious. By the way, if you ever listen to Bob and Tom, have you ever heard of Mr. Obvious? The Mr. Obvious show? Have you ever heard. You should go to YouTube and do a search for Mr. Obvious Garbage disposal. And it’s this show from a guy who’s calling in on a radio show and saying, I got something underneath my sink that makes a lot of noise. Every time I turn the light on, it goes, Oh, whoa, whoa, whoa. I just don’t know what it is. And so the host, Mr. Obvious, says, Well, Mr. Caller, I think that might be a garbage disposal. Really? Oh, wow. Oh, that’s awesome. Thank you so much. It’s really funny, and I’m not doing it. Just go to YouTube, do a search for Bob and Tom or Mr. Obvious garbage disposal and that it is kind of the show does have a lot of inappropriate things that they talk about. So I don’t listen to it all the time anymore. I don’t listen to it all anymore. But anyway, yeah, it’s going to take work, man. That’s the way this business is. Like any business that you want to make money in requires work, it requires effort, and it sometimes requires a lot of it. So get your big boy pants on and figure it out. So most people actually do fail in this business. Most people who try wholesaling, whether it’s houses or land, will fail. And then the people that do a couple of deals usually quit because it gets hard. Now, does that mean it doesn’t work? No, of course it works. I would be lying to you if I told you it didn’t work. I’ve done a lot of deals of my own. I know a lot of people who have done a lot of deals, have been doing a lot of deals for a long time. And it’s hard. You do go through seasons where it’s easier than others, but you need to put work into it. And I think people need to stop complaining about competition. Here’s the thing. When I got started in oh 626, I sound like an old guy, right? But like when I got started, there were people back then who were complaining about competition back in oh six. They were complaining about how difficult direct mail was. They were complaining about people. I heard people in Phenix complaining about You can’t walk down the street without tripping over a bandit sign or in Vegas, you know. But I don’t know. Guess how many deals have been done in the last. What is that? Oh, six, 16 years in Phenix or Las Vegas? Thousands and hundreds of thousands of deals. Right. So here’s the thing. And I see this, too. Even when the market is white hot, it’s a white hot seller’s market. And now we’re coming into a buyer’s market. Right. But even in the white hot seller’s market, when I have a student on the phone and they were complaining, that doesn’t work and it’s hard, I say, what doesn’t work? Well, there’s no deals out there. I said, Really? All right, let’s look at the data. We’re talking about data, not drama here. Write that down. Data, not drama. We would go in and look in the last 90 days, six months, whatever, how many investor transactions were there. And every time I pull that up, these were investors that bought properties in the last 90 days in this difficult, quote unquote competitive market. And guess what? There were always hundreds of them, if not thousands. And the student who was whining and complaining would be shocked. Oh, wow. Really? Dang. So who’s how are they finding these deals? Well, I don’t know. They’re probably not sitting around complaining and whining about how hard it is. They’re probably doing the work there. Probably. Maybe it costs them more in marketing than it did a year ago to do a deal. But guess what? What happened when that happens, when the profit I’m sorry, when the cost to acquire a deal goes up, so does the profit, because that means there’s a lot of demand. You can sell this, so you’re going to make more money in a seller’s market on your deals. So anyway, I was kind of, you know, a little annoyed hearing these people complain about how hard it is. It’s always been competitive, right? It’s always been competitive. And I see this common thread a lot. You’ve got to blame somebody, so you might as well blame the gurus. Right. It’s the gurus fault. They make it sound too easy. They don’t tell you the whole truth about really what goes on or what it takes to do deals consistently. Certainly not your fault. It’s the gurus fault or it’s the market’s fault. It’s the hedge funds fault. It’s the Real Estate Licensing Commission’s fault. It’s the whatever. So, like, just listen to yourself.
Joe: When I when I’m talking to a student, a potential coaching student who wants to work with me and they want my help. Right? If I hear them complain once about another coach that they hired in the past and how they weren’t helpful, they weren’t working out, they were bad or whatever. I pretty much will write that person off and I will not work with them myself or the people I will work with. They may say, Yeah, you know, that guy wasn’t very responsive or whatever, but I realized it was really my fault. Like I needed to take the action, an initiative like. And so then they may be saying complain a little bit, but they don’t blame them, right? If I hear somebody complaining to me and blaming somebody else for their problems like another coach or whatever, you think I want to work with that guy now because he’s going to be complaining about me six months from now to somebody else, and he’s going to be telling me that I’m somebody else. You know, what a bad guy I am and how hard I am to work with. Listen, I know where this is coming from because I was that guy at one time, right? I spent $13,000 on credit card with my wife’s approval. We did it together on this coaching program, and it was honestly not very good. It was so simple and basic. And I just I got discouraged with it. I complained a little bit about it, but, you know, after I was actually doing deals full time, I pulled out that course and I looked at it. And you know what? That stuff in there was actually really good. I remember at the time complaining that, Oh, it’s just so basic. You know, nobody’s using classified ads anymore. You know, it’s on CD or it’s on. Well, it was a cassette tapes or CDs. I would find these little things to complain about and say that this is just outdated. What a bunch of lying B.S. that is. It’s not outdated. What’s outdated about talking to sellers and making offers? What’s outdated with calling landlords who have rental properties and asking them if they want to sell their house? There’s nothing outdated about that. I bought this book recently from Robert Allen. Multiple streams of income is I with no money down and it has a little sticker on it that says Updated for the eighties. Okay, you go through that book. There’s so much good stuff in there. Now, some of the maybe, you know, classified ads aren’t working like they used to, but I still know people who are finding deals on classified ads in newspapers. Stop blaming other people for your failures. It’s not it’s not going to get you anywhere. Time to get. I’m looking at my notes here. Right. Here’s the deal. Bottom line, what I’m trying to say. Entrepreneurship. Small business. Owning a small business. Starting a small business. It’s not for everybody. It isn’t. It’s hard. And it’s going to. It’s going to suck at times. It’s not for everyone. So if you’re not that kind of a person who’s willing to take risks and work hard, even when it’s discouraged, when you’re discouraged, then go do something else. Go get a job and be happy there. Be content with where you’re at. Maybe entrepreneurship and small business. Real estate is not for you. That’s totally fine because it’s not for everybody. It really isn’t. So if you want to succeed in real estate guys, I’m going to give you some things that you need to do. I made a list here of ten things that if you want to succeed in real estate, you need to pay attention to number one. You need to have either money or time. Okay? If you don’t have money, you better have time to pull up your sleeves and grind. In other words, like you’re going to do a lot of cold calling. You’re going to hand address a lot of envelopes. You’re going to knock on doors, whatever it is, drive for dollars. If you don’t have money for marketing, you better spend the time. And I would argue you probably get better results with time. I had a student once that didn’t have much money, but he had time. So you know what he did? He had a little bit of money. He’d go to the donut store, buy a dozen donuts, go to the property management offices or the title companies and show up and say, Hi, my name’s David. He did like some donuts. Listen, I’m new. I’m getting started in this business. I’m looking for deals to the property management company. Do you have any clients who might want to sell a property? You know, if I find somebody who’s got a rental property, they’re looking for a good property manager. Can I recommend them to you guys? And he just started following up and networking with other realtors property. Managers, title companies and started doing a ton of deals just by hustling because he didn’t have the money, he had the time. And then with the literally, I’m not kidding. Within a few months he had more leads and he could handle. He was overwhelmed. He had so many people bringing him leads to look at number two, you need to commit at least six months to this business before you give yourself permission to quit. Six months. You can’t be just like, all right, I’m going to send a thousand letters and see if this works. Stop. Forget it. Save your money. Go do something else. You. You’ve got to be committed to this for at least six months of consistent marketing before you decide to quit. You’re not allowed to quit after a month or two or three. Okay. Somebody I know quit recently a certain business. And this other guy I know asked that guy. I’m trying to be vague here and said, Hey, can I have your old leads? And the guy said, Yeah, take them. And that guy went and started making it. He made about 50 offers. No, about 35, 35 to 40 offers and just got a deal. It’s worth 15 grand. And he got it under contract for $2,000. This guy got a deal from this old guy’s lead, his guys old leads. He’s not old for $2,000. It’s okay. Whatever. Thanks.
Joe: All right. Number two was be committed at least six months. Number three, never blame somebody else for your lack of success. Just stop it. It’s immature, it’s unprofessional, and it does not look good on you. Makes you look bad. Stop blaming the gurus. I thank God for gurus personally, because if it wasn’t for the Robert Allens who trained the Carlton Sheets. Who trained? I don’t know Ron the Grand who trained. Lou Brown, who trained. Sean Terry, who trained so-and-so, trained so-and-so. Like if it wasn’t for those gurus who put that education out there, I would have never have gotten the success that I have. So I’m thankful for gurus. God bless them for making a lot of money. I don’t know. Does that make sense? Some of them are shysters. I know. So I’m not talking about them. Number four Come on, work hard. Stop making excuses. These are all kind of related to. But you just you got to determine right now you’re going to work hard if you know, you have to make 50 offers to do one deal. That’s a lot, right? But if you knew you had to make if I could guarantee you to do a deal, if you made 50 offers, only 5% of you would do it, because 95% of you guys don’t want to put in the work. You’re too lazy. You want to push button, get rich quick thing where things fall from the sky, you’re not going to do it. I can guarantee you would do a deal if you made 50 offers and only 5% of you would actually make 50 offers. That’s just kind of the nature of this business, I guess. So you got to be before you get started in this, make the commitment, promise to yourself that you’re going to work hard and you’re going to stop making excuses. Which relates to number five. I want you to treat this stuff like a business, not like a hobby. If you want to have success, treat it like a business, not like a hobby. Okay. Number six, I want you to practice, learn, become a student of sales. Sales is the million dollar skill in this business. Anybody that I know that is successful is good at sales. There’s a lot of good books on sales by any and every sales training thing that you can get, whether you like Grant Cardone or not. By his books on sales. There’s a great book called You Can’t Teach a Kid to write a book at a seminar from the Sandler Institute. That’s a great book. Another one is never split the difference. Another one is go for no, another one is Flip the script, I think written by the same guy who wrote Never Split the Difference. Claude Diamond. He’s a great guy, got a YouTube channel. I’ve got training with him. He’s been on my podcast. Look at anything Claude Diamond does on sales and become a student and a master of sales and you will have success in this business. It takes practice, which kind of relates to number six, but maybe this is number seven. I’m going to keep it at number six because I’ve already got it written down here. If you want to have success in this business, here you go. Ready? Write this down. Talk to five sellers a day. That’s how you’re going to get good at sales. It takes practice and it’s going to suck. You’re not going to like it. But here we go. This is it. Are you willing to do it? Talk to five sellers a day. Write that down on a Post-it note and stick it on your forehead. You’re going to talk to five sellers a day. And I can guarantee if you talk to five sellers a day for six months, you’re going to do a deal, but nobody’s willing to do it. All right. Number seven, make at least three offers a day. Three offers a day. Listen, you’ll be like. I don’t know. I don’t want to. I don’t know how to make an offer. What if I make a bad offer? Listen, if you had a gun to your head and the bad guy said if you don’t make three offers within the next 30 minutes, I’m going to blow your brains out. You would find a way to make an offer, even if it was a stupid offer. You would figure it out. You would go to YouTube and you would do a search for how to do an offer. You’d go to Chat GPT and you would say, How do I make an offer and chat GPT Artificial intelligence. The dude there would say, Hey, I do this and then that you would go to Office Depot or Staples, whatever it is now, and you would go to their they have a place there where you can buy generic contracts and you would find a way, you would figure it out and you wouldn’t care if you didn’t have an LLC. You would make the offer in your name, you would go to Zillow and you would make an offer at 50% of whatever the Zestimate of this is of that property. And you would make an offer, you would make your three offers in 30 minutes if you had to.
Joe: Okay. So talk to five sellers a day and make at least three offers a day, even if it’s properties on the MLS. Number eight, if you’ve got leads and you’re going to get leads, if you start talking to sellers every day and make an offers follow up with every one of your old leads every 30 days, real simple follow up, you’re going to find half of your deals. Probably more come from the follow up guys that are complaining about it being so hard are not doing enough follow up. Telling you we did a study one time of all the deals that we did in one year look back only I remember 4547 deals. Of all those deals, only two came from that first phone call. The other 40 something came from follow up. If we would have not done any follow up, we would have only done two deals that year. So do follow up. Number eight become a student of the game. Just start reading books, studying, invest in yourself, invest in your business. Hire a coach who’s been there, done that, who’s been in for a long time, who’s been through different market cycles, who’s actually doing the business themselves. So become a student of the game and invest in yourself, Join a mastermind or something, right? Like start hanging out with other people who are more successful than you and just start copying what they’re doing. That’s it. Just the final number ten lead with value. Be genuine, right? I’m talking about ethics and integrity. They have to be at the forefront of your business. You’re never going to succeed in this business or in life if you take advantage of other people. So you need to think about value first. How can I give more than I take? And if you have that outlook on life and in business, how are you going to fail you when you when you need to think about more? How can I help other people than how can I get them to help me? And when you have that go giver mentality, it just happens. It just works. You’re going to do deals. Okay. So the ten things, again, you need to have either money or time, right? If you have money, start investing in marketing. You’re in the marketing business, you’re not in the real estate business. Spend as much money as you can on marketing. And if you don’t have money but you have time, then get some elbow grease, start doing the work. And number two, you’ve got to be committed for at least six months before you can decide to quit. Right? Number three, never blame anybody else for your lack of success. It’s always on you. Number four, be willing to work hard. Work hard, Stop making excuses. Number five, treat this like a business, not like a hobby. Number six, learn sales, become a master of sales, become a student of sales. And to get there to be good at you got to practice. So number six again, talk to five sellers a day. Number seven make offers. Your speed income in this business is directly proportional to the number of offers that you make. So you should be making at least three offers a day. I don’t care if it’s an old MLS listing, if it’s a listing that has been on the MLS for 60 days and it needs work, call that realtor up and make them an offer. Even if it’s on the phone, Make them an offer, send them an email, send them an offer in an email. Even if it’s a if it’s just a letter and you’re too afraid to talk to them, send them an offer anyway. Make at least three offers a day. You’re going to learn how to analyze deals. You’re going to learn how to negotiate and all that good stuff. Then number eight, follow up With every single one of your leads every 30 days, It’s got to be like if you have a CRM, every single lead in your CRM needs to have a task assigned to somebody in the future for follow up. So follow up with every single one of your old leads every 30 days, every 30 days. I don’t care if they cussed you out and they told you to go to double hockey sticks. Or as a pastor, I know when he’s frustrated at golf and you’re giving him a hard time, he’ll say, Oh, you can go to hell dot com. So like he can’t. He’s a pastor. He can tell people to go to hell. So you’ll tell them to go to hell dot com, which is different, right? I think that’s okay. All right. Number nine, become a student of the game. Become a student of the game. Start investing in your education, in mentoring and masterminds, and hanging out with other people. Right. And number ten, lead with value, right? Be genuine. Be honest. Put ethics and integrity at the forefront of yourself and of your business. And you will succeed in business by when you’re when you’re helping other people, when you’re talking to yourself and you’re more concerned about helping them sell their house than making a profit. You’re going to do more deals. If you’re talking to a private investor and you’re more concerned about how to protect their money to make sure they get paid first. Then you’re going to do well in this business. If you’re talking to a buyer, making sure that you’re only bringing them deals that they want, that you know are going to be good deals and you’re not trying to hide anything or sneak anything in. You’re going to do a lot of business because you become known as a man or woman of integrity and they’re going to trust you and they’re going to want to do business with you. That’s how you succeed in this business.
Joe: Cool. All right. So that’s a big mouthful. I just I thought I’d listen to these other guys. I was like, Man, I know. I want to talk about this. Let me know what you think. I know this is an audio podcast right now, but if you you’re if you’re on YouTube, go to my YouTube channel would ya? And subscribe to my channel. Just go to YouTube or search for Joe McCall. I’m probably gonna do a video on this topic tomorrow, so I’d love to get your feedback on I’m very I’m doing more and more videos. I’m excited about that opportunity there. Appreciate you all. Go to my YouTube channel right now. Subscribe to my channel. Watch some of the videos that would help me a lot. Appreciate you guys. Bye bye.
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