Would you like to learn how to do deals while golfing? Here, I’ll show you how to do it. A few months ago, we were out hitting some balls, and I got a text from my acquisitions manager saying that we just made $36K on a flipped vacant lot deal. We never went to see it and barely talked to the seller. We worked with a realtor and got this: it was listed for $340,000, we got it under contract for $215,000, and then we sold it for $280,000.
After all our closing costs, taxes, and other stuff, we netted $36,000 on this vacant land deal that we didn't buy; we just assigned the deal. We used a realtor out in another state, and we didn't use any of our own money. You’ve heard me say before that the keys to success in this business are three things: marketing, automation, and delegation. That’s how you can do deals while golfing, and I’ll share with you some of the best tips to make things happen.
Joe: Hey, what's going on, guys? Joe here. Would you like to learn how to do deals while golfing? Well, I'm going to show you how to do it. I love to play golf for a lot of reasons. It's fun. I love just having the excuse to go outside, play a competitive sport. And, it's a great place to do business. Well, a few months ago here at this golf course, my golf course here, it's in December. It's a little cold outside. I'm a wimp. So I like to play inside at the virtual simulator here. But a few months ago, we're out hitting some balls and I get a text from my acquisitions manager. What's up? Matt? Hey, we just did $36,000 on this vacant land flip. All right, crazy to think about. Here I am golfing, and I get a text from acquisitions manager that we just made 36 grand on our deal that we flipped was a vacant lot. We never went to go see it. We barely talked to the seller. We mainly talked with the realtor. We got it under contract. It was listed. Get this. It was listed for $340,000. We got it under contract for $215,000. So that's about 100. And what $125,000 difference there. And then we sold it for $280,000. And we sold it on an assignment. We never bought it. We used a realtor and we got a 45 something thousand dollars assignment. So after all of our closing costs and we paid some taxes and stuff like that, we netted $36,000 on this vacant land deal that we didn't buy. We just assigned the deal. We used a realtor out in another state, was in Florida on a deal that we'd never been to. We didn't use any of our own money. So how did we do it that well, I'm going to be talking about that on this video.
Joe: Many times I say the keys to success in this business are three things: marketing, automation, and delegation. Marketing, automation, and delegation. Right. And that's how you can do deals while golfing. My journey goes back quite a ways, though. I was actually doing a, I was doing a lot of house deals at the time. This is 2012, 2013. So I've been doing real estate now for about 4 or 5 years, and I was getting kind of tired of the grind. Right? I'm doing I'm the one doing all the work. I'm the one taking the calls, going to see the sellers going to their houses, you know, doing kind of the running around stuff. And I thought, man, at the time is like, this isn't what I signed up for. I want to be out here golfing. I want to go traveling with my kids. My wife and I have four kids, and we'd always had a dream as part of our vision. Like, let's we want to travel the world. We since we homeschool our kids. Not that we're anti public school, we're just so pro homeschool. We thought, let's go travel the world with our kids. And you know, instead of teaching them about ancient Roman history, let's take them to Rome. Instead of teaching them about science and natural science, let's take them to national parks and go travel around the world. So we wanted to do that, but how am I going to go travel the world, even though I'm working from home and I have a lot of freedom, how can I go travel for three months at a time and still do deals without doing the day to day and stuff like that? So I started thinking about I wrote till I made a list, I did. I do this all the time. I make a list of everything that has to be done to do whatever project I'm working on. Maybe it's a real estate deal to wholesale deal. It's a vacant land deal. It's whatever. I make a list of everything that I have to do, and I ask myself a real simple question. How can I do none of this? How can I get somebody else to do this all for me? And so at the time, we wanted to, well, let me just fast forward a little bit. We've been to my wife and I on our four kids have been to Europe 3 or 4 times. Twice. We've gone for about 2 to 3 months at a time. So with our four kids, we've gone for 2 to 3 months at a time, and we homeschool the kids while we're there. Brought a lot of books with us, you know, and then just on, you know, we do school during the day, in the evenings, we'd go do the tourist things, we'd go see everything, and then the weekends we'd go travel and just had a blast. We saw a lot of Europe. We kind of stayed in Prague, in the Czech Republic and then traveled around from there. But then one time I just wanted to take a three month RV trip. And this is different because when you're out on an RV, we went to go see like 10 or 9, 9 or 10 different national parks. A lot of them you don't have internet connection, you don't have good cell phone reception.
Joe: So I wanted to really do deals without doing deals. And so I made this list of what do you need to do in to do a deal, and how can you do none of it, so that the time we were wholesaling a lot of houses and so I thought, all right, well, I can get my direct mail company to do my direct mail for me. Right. And I got a virtual assistant that handled all of the incoming calls. She would answer the phones or return the calls right away, and she would prescreen the leads. And then I found a local wholesaler that was doing a lot of deals, and I started doing this in four different markets by the time we were traveling. And that local wholesaler would take those prescreened leads, go meet with the sellers, get it under contract and sell it to their buyers. Because a lot of these local guys here, they already have the buyers, they already have the title companies. A lot of them already have the money. They can close on the deal. They know what they're good at is getting in their truck drive and looking at properties and meeting with the sellers face to face. Write me what I'm good at is setting up systems, setting up marketing and letting the engine go, putting, you know, putting fuel in the fire, getting a ton of leads. That's what I'm good at. So I started approaching these other wholesalers who were already doing deals, and they didn't like being behind the computer. They didn't like doing the marketing and prescreening all of these leads. And I said, what if I did that for you? What if I did the marketing prescreen the leads and sent you Prescreen leads? You close them. Flip. And then we split the net profits 50/50. And sure enough, we started doing that. So when we were traveling around the country in the RV where I was averaging 4 or 5 deals a month in 3 or 4 different markets at a time, and I was doing nothing, literally doing nothing. Just managing my team. And I had a local assistant at the time who was working. She was kind of making sure that the direct mail went out. She was making sure that the virtual assistant was handling the leads. And we used a CRM where we made sure our wholesalers were updating those leads with, with the data and information from the sellers. Right. And that was it. We're doing deals while traveling. So fast forward a couple of years. This is now 2023 or whatever. I'm golfing out on the golf course, get a text while I'm golfing from my friend Matt that we just did a land flip and made $36,000 net profit in that deal. And how did we do that deal? Same thing. Same thing. We send out the marketing leads come to voicemail. We send the sellers an offer. Sometimes we call them first. Sometimes we just send them an offer. And we don't talk to the sellers until after they get our offer. And then we get it under contract and we call realtors. That's it.
Joe: So we're constantly asking ourselves, how can we get somebody else to do this stuff for us? Somebody who's better at it than we are. Somebody who's closer to the deal. Somebody who understands the market better than we do. So I don't know if I could ever remember doing a deal where it was all 100% on my own, ten hundreds of deals. But I'm always finding somebody to partner with. Maybe it's a realtor that does a selling for me. Maybe it's virtual assistant that helps me prescreen the leads or whatever. I'm partnering with other students. I'm partnering with other local wholesalers, other investors. One time I got a deal under contract, and this was a subject to deal in Texas. So it was a seller who didn't have much equity. They were willing to let us take over their mortgage payment, their mortgage, their payment was really low. We could rent the property out and get 4 or $500 a month in cash flow. But I was busy. This was a market where I've never done deals. This is in Houston, never done deals in Houston before. And there's unique things when it comes to doing creative financing deals in Texas. Right. And so what did I do? I went to Craigslist. I did a search for the word lease options or owner financing or something like that. And I found an investor who was advertising a house with creative financing that they were selling. And I called the guy up and said, hey, listen, I'm an investor in Saint Louis, Missouri. I think I have a good deal here. The seller has already verbally agreed to this, that they want to do this and this and this. I didn't tell the guy where the property was yet. And I said, would you want to partner with me on this deal? Because I don't have any contacts or connections there in Houston and you probably know the market really well. So I told him the area where the house was and he's like, man, if your numbers are right, that's a pretty good deal there. I said, well, have you done subject twos before? He said, yeah, no problem. I said, do you have a title company that can help you with it? No problem. Do you have the insurance? Yeah. No problem. Paperwork? No problem. He's like, man, I can help you with this deal. I said, all right, let's do this. So I sent him an email explaining what it is that we agreed to on the phone. I said, listen, I'm gonna send you an email. Now. You just review it and respond back to me if you agree with it or not. And so that was it. And that's how I like to do deals. I find people who are already doing deals in the area that are already doing these types of deals. I just call them up now. It doesn't always work. If I had people go behind my back and do deals before. Yeah, but like it's very, very rare. And you think about it because some people concerned about this, well, if you're if you're partnering with other local wholesalers, you know, how do you know they're going to be honest with you? Well, you think about this like it's kind of like you're the goose who's laying the golden egg, right? You're the one who's doing the marketing, giving them prescreened leads. The last thing that wholesaler wants to do is ruin that relationship, because guess what? You're going to stop giving them leads in the future, right? And you're doing the thing that they don't want to do. So why would they want to do that? The other thing is we use a CRM that everybody can see. So that wholesaler that I'm partnering with, they understand that everything has to be kept track in this CRM that we are both using together. I have to know who the buyer is. I have to see all the contracts. I have to see the contracts on the A to B and the B to C side as well. And we have constant regular communication at least once a week. I'm talking to these guys. Hey, what's going on with this deal. Do you need any help with anything? A lot of times a wholesaler comes back to me and says, yeah, this is great. I'm getting a lot of leads, but can you have your VA ask them this question instead? So one of our wholesalers said, please have your VA, ask them, Mr. Seller, what's more important to you to sell it fast or to sell it for the highest price possible? He just wanted a little bit more prescreening done on these leads. So that's what we started doing. Done lots of deals with that guy.
Joe: So anyway, my point is this if you'd like to learn how to do deals while golfing, maybe golfing isn't your thing. It should be. Maybe sometime you come down here to Saint Louis and play with me. That'd be awesome. I'd love to play with you, but if golfing is your thing, you got to come up with some hobby. You know? Like, for me, since I had my open heart surgery about six months ago to replace my aortic valve, I've been walking more. It's really important that I. You know, I've lost 40 pounds. I'm really trying hard to get more exercise and eat healthy and so. But golf is great because I can get out there for an hour and a half, walk nine holes and just get some really good cardio and also get some time to think. Well, sometimes I'll listen to podcasts I. I will listen to audiobooks. Sometimes I'll bring clients or potential investors with me out there and we'll golf. And that's a great way to do business and just kind of step away from the office, step away from the hustle and the grind and just relax a little bit, right. And then in the wintertime, come here to the clubhouse, get some balls at the virtual simulator. And, it's just nice to relax. But when I'm out here, I'm always thinking about all these things, you know, that I got to do in a business. If I want to do deals, if I want to do three deals a month, let's say just one deal a month. What kind of marketing needs to be done? What kind of systems need to be in place? And then who can I get to run in all of that for me? So back to the marketing automation delegation things, right? How can I get someone else to do the marketing? How can I set up systems and automation that the leads get followed up with automatically? That the offers gets sent out with systems? Nothing falls through the cracks. No lead gets left behind. How do you get the right systems in place to make that operation run? And then how can you get on your team? How can you delegate all of this work to. So start asking yourself bigger questions. Start asking bigger questions like, all right, if you're doing foreclosures or short sales, you know, is there anybody else out there that can do all of this negotiating with the banks, right. Can do all of this paperwork and handle it. How can you get the list of everything that you got to do and just ask yourself, how can I do none of this? How can I get somebody else to do it with me? How can I find people to partner with that can do the stuff that I can't do, or that I'm not good at, or that I don't want to do? It's all about asking who, not how. You could spend a lot of time saying, how do I do this? How do I do that and get overwhelmed? But instead maybe ask another question who can I get to do this for me? And then you can be golfing with me, Amy, out here while we're doing deals. Let's go for it. That's all I got for now, guys. Take care, have a good one. Bye.