If you were in a do-or-die situation and needed to make $5,000 in 30 days, what would you do? I’ve been thinking about doing more around this topic because I know a lot of people listening are looking to make their first $1,000 bucks and get that first deal. Here, I’m sharing exactly what I would do and the key is really to start taking action. Back when I was a professional student, I’d spend way too much time buying courses and reading books and feeling like everything was just too hard for me. But eventually, I started taking massive action and everything changed.
Being on the other side of things now, I realize I could have been successful a lot quicker if I took action sooner. There’s no magic pill or secret out there, you just have to get out there and do the work. First, you need to find out where the demand is, whether you’re buying houses or vacant land. Make a ton of calls. Talk to realtors and make them your allies. Use a program like Freedom Soft to pull leads and start reaching out to them. Put together a cold calling and letter mailing strategy and set a target goal of how many folks you’re going to talk to each day.
Listen and learn:
- How I would make $5,000 in 30 days.
- Three action steps to get you towards your first deal.
Mentioned in this episode:
Download episode transcript in PDF format here…
Joe: Yo, hey, Joe here. REI in your car. Driving right now to the golf course country club place to hit some balls at the golf simulator. It’s still kind of cold right now in February. So I’m going to be hitting the balls indoors, although, shoot, I could be hitting them outdoors. Maybe I will to see how it’s going. Right now, it’s 63 degrees and I sound like I’m whining and complaining that it’s cold. I might actually get them outside if the driving range is open. But hey, I wanted to talk to you guys and talk about what I would do if I had 30 days to make $5,000, like if I wanted to if I was like, back against the wall, I had to make $5,000 or, you know, I don’t know, terrorists is going to blow my brains out or somebody is going to kidnap my family or something like that. And like, I really, really, really, really had to do it. And I it had to be like real estate deals. Let me tell you what I would do. Would you be interested in that? And I’m thinking about also talking more about this kind of subject. I mean, it sounds kind of bad, the way I put it. Sorry. I don’t mean like terrorists gun to your head, but what I was trying to convey was, listen, you have to either do or die. You’ve got to make some money or you’re going to have to go back flipping hamburgers at McDonald’s or something like that. Is that better? All right.
Joe: So what would I do? I’m thinking about, again, like I said, doing some YouTube videos, spending more time talking about this, because I think a lot of people who listen to this podcast, who watch my videos on my email list, all that good stuff, you just want to make your first thousand bucks, right? You just want to make do your first deal. And so many times when you hear people talking about this stuff, it’s like how to make $1,000,000 a year when it’s really just, Hey, I just want to make my first thousand dollars and I want to help you with that. I want to show you how to do that. I remember when I was looking at that back in the days when I was a professional student, buying course after course, going after boot camp, after boot camp. And I remember I couldn’t afford to buy a book or I could, but I was too cheap, I guess. And I would go to Barnes and Noble and just read the books from the shelf for a couple hours and then put it back and then go home. Right. Do you remember those days? So finally, though, I started taking massive action, but I remember back in those days watching other people do deals, thinking, I want to do that someday, and then getting discouraged like, Oh man, it’s too hard. I can’t do it. Why can they have success? Why are they making it look so easy? But it’s not. It’s hard. I can’t do it. It’s kind of whining, you know, having my own little pity parties. But it wasn’t until, I guess, what started taking massive action and started actually doing something with the stuff that I was reading about at the books, in the books at Barnes and Noble. Well, this is what I would do. And, you know, it’s a funny thing, you know, being on the other side, I realized what was I so freaked out about? Like I could have had way more success if I would have taken more action, done less studying and done more action, I would have had way more success faster and sooner. All right. And that’s what I’m trying to hope to inspire you to do and let you know that it’s not that complicated. There is no secret magic pill out there. There’s not another course. You need to buy a book. You need to read video. You need to watch to give you the one last secret that will make everything easier for you, right? It’s just get out there and do the work. Make offers.
Joe: Okay. So I’m kind of going to break this up into different parts. Like if I were to do a wholesale house deal, wholesale a house, or maybe wholesale a piece of vacant land, maybe do a lease option, maybe a combination of all of the above, I kind of show you what I would do first thing. First thing let’s focus on House is right now, right? I would go find the demand. What is this actually houses or land? Where is the demand? Where do people want to buy houses? Like I want to know what they’re looking for. I want to know what they’re buying. Why are they buying it? The neighborhoods that they’re buying in, Who are these buyers that are buying these properties? And if you think is you’re listening to this, oh, man, the market’s slowing down. We’re coming into recession, interest rates. Nobody’s buying houses anymore. It’s not true. Not true. Even vacant land. Tons of people are still buying vacant land. Even in the Great Recession that we saw in ’08 and ’09 people were still buying houses back then. Right. So who are they? What are they buying? Where are they buying the mat? Right. Are they buying them in Detroit, in Saint Louis, in Lafayette, Louisiana, San Diego, Phoenix or like where are they buying these homes at? Go find those. Go find those hot markets by county and maybe by state by county. You can do. All of this and props, dream or list source. And then when I find a couple states, I’m going to dive deeper into the counties. Right. Well, where are the counties where investors are buying homes in the last 90 days? And I got the county. All right. That I’m going to dive deep into the zip codes. What are the zip codes where people are buying properties? Oh, man. I mean, if all you did was that you’re 90% of the way there. Really? Because listen, especially if you’re a realtor, who are the customers? Is it the seller that you’re trying to get a listing from? Is it the seller Who owns Is it the absentee landlord who’s tired and frustrated with their house that they are, you know, evicting tenants every eight months and know your customers are the buyers, Your customers that you need to be focusing all your time and attention on are the buyers, What are they buying and where? Right. So when you figure that out, all right, now it’s time to get to work and start finding motivated sellers in those zip codes. Now, how do you do that? Well, you need you need a little bit of money, right? Like, I’m assuming you’ve got at least a thousand bucks you can start spending on marketing, pulling lists, skip tracing, and maybe doing a little mail, doing some cold calling and stuff like that. Right. So you need you need a little bit of money to buy some leads. So I would go I would get a Freedom Soft account. I would go to Freedom Soft Joe.com And I would buy a Freedom Soft account from me. Right. I’m serious. I would get a Freedom Soft account. Find these top two or three zip codes and I would pull list of all the absentee owners that have a lot of equity and I would skip trace them and start cold calling them, but I would be calling them myself. I wouldn’t be using an out, so I wouldn’t be outsourcing it to a third party sales floor. I would be calling them myself and I would be calling them using Freedom Soft because there’s just better quality when you’re dialing one number at a time rather than a triple dialer for a lot of reasons. And you’re answering the phone yourself. So you’re not using a VA third party to get these calls for you. You’re talking to the seller directly. Yeah. So I would start skip tracing and calling them and I would call at least 50 to 100 a day, maybe 100 minimum. Just got to maybe it’s too hard to get that many right up front at first. So kind of slow your way into it, but you got to just start making a lot of calls. My goal would be to talk to five sellers a day, right? So that’d be number one. I would dial cold call about 100 phone numbers a day at a starting out. Then I’d eventually try to get to 200. Freedom Soft just makes it all that much easier for you. You can get the lists from Freedom Soft, you can skip, trace it from Freedom Soft, and then you can start calling them. And then if you leave somebody a voicemail or you get their voicemail, you can send them a text and then call them again later on. You can you can change the status of each lead, as you call them, to contact attempt, one contact attempt to, etc.. Right. All right.
Joe: So then what? The second thing I would start doing is I would start going into the malls and looking at the properties in those zip codes that need work, any property that needs updating. I would manage people on the golf course and I’m going to do an indoor simulator. I’m going to try to go to the driving range. Okay, So then you’ve got people yeah, on the MLS, so you find older listings on the MLS that need work out, start calling those realtors out. I would start calling the realtors and saying, Hey, this looks like a real nice house. Why hasn’t it sold yet? I’d ask the realtor questions about what kind of work do you think needs to be done to it Once you’ve fixed it up, what do you think you could sell it for? Is the seller negotiable on their price? If I can’t get them that price, would they be willing? If I could get them that price, would they be willing to maybe owner finance or carry back some financing, lease it for a little while and then sell it? You know, so I would try to talk to the realtor about some creative financing options, but these are properties that need updating. They haven’t sold yet. Maybe they’ve been on the MLS for 30 days, 60 days, 90 days. They’ve not sold yet. What’s going on? So I start calling realtors and making offers. I would ask them how negotiable is the seller on their price? Would they accept something in this price range? And I would make sure to tell the realtor, you know, you can represent me, give both sides of the commissions. So I’d make the realtor my ally right?
Joe: Then the third thing I would start doing is I would start going into court records, finding the properties that are going through evictions. I would be finding the evictions and I would be contacting the landlords of those properties by skip tracing and cold calling them. I’d also be sending them handwritten yellow letters. So maybe every day I would send 20 handwritten yellow letters to these. Landlords of that are going through evictions. And I don’t know if those are available in your county or not, but I would find some counties where it is available on court records online and you can usually find the address of the plaintiff or the defendant. And if it’s the defendant, that’s the tenant being evicted. Right. And their address is usually the address of the property they’re living in. And you can go to the county records and find out who owns that property there. So that’s what I would do, man. I would get on the phone, I would start talking to five sellers a day. I would be making at least five offers a day. Now, when I say talking to that would be like talking to a real seller about their house, asking them questions, asking them, you know what? What price would they want to sell it for? What’s the least they take and all of that and then start making 3 to 4 or five offers a day? Yeah, that’s it, right? I mean, how bad do you want it? I would start cold calling about 100 people a day minimum. I would start calling realtors maybe five a day, minimum of older listings and just asking them, telling them I’m an investor, they can represent me. I’m looking for a good deal. And by the way, that the property you’re calling them about probably will not work. But guess what? Now you starting a relationship with them and you ask them, do you have any other properties? Do you ever come across properties that need work? You know, can you send them my way? And then the third thing is I’d start sending maybe 20 yellow letters a day to the landlords of rental properties that are going through evictions. There’s other things I would do too, but like I could pretty much guarantee if I did that every day, I would find a deal within 30 days. Yeah. How bad do you want it? All right, so that’s all I got for now. I’m here at the golf course. I’ve got to figure out what I’m going to do. Have a good one, guys. See ya. Bye bye.
What are you thinking?
First off, we really love feedback, so please click here to give us a quick review in iTunes! Got any thoughts on this episode? We’d love to hear ’em too. Talk to us in the comments below.
Enjoy this podcast? Share the love!
Leave a Reply