I’m in the car with Gavin Timms and we’re on the way to another Implementation Workshop. We basically start students’ businesses with them/for them.
Gavin and I created a case study video about doing wholesaling in a virtual market. We take you through all the steps we followed… choosing markets, scripts for talking to sellers, marketing efforts, etc.
The two students who worked this virtual wholesaling ‘experiment’ with Gavin and I are a married couple, Kerry and Melissa. Both of them quit their day jobs and are now full time in real estate.
They’ve made deals on Maui, in San Francisco, but mostly near home in Alabama. The 1st thing they had to do was get their minds around the fact that neither one of them was going to see the inside of a house they were buying.
It’s the same for every wholesaler. Talk to sellers, make offers, follow up and follow up some more. We provide our students with prescreened leads, so they have a leg up on talking to sellers.
We also set our students up with systems and a virtual assistant. Some of the students end up partnering with us, some choose to run solo. We hear great success stories from alumni.
There will be another workshop in May and possibly in July. Think about whether a foundational headstart like this would be good for your business.
Listen and learn:
- Good systems are crucial when you make deals virtually.
- Build a business that works around you… don’t try to fit yourself to the business.
- The keys to success are marketing, automation, and delegation
Mentioned in this episode:
- Joe’s podcasts on iTunes: Real Estate Investing Mastery Podcast
- Joe and Gavin’s video: Virtual Case Study
Download episode transcript in PDF format here…
Joe: Hey, what’s going on guys? This is Joe McCall Real Estate Investing Mastery Podcast in your car.
Joe: I’m with Gavin Timms. Gavin, what’s up?
Gavin: Hey guys. Joe, how you doing?
Joe: Awesome. Guys we are actually in the car right now driving towards the Embassy Suites Hotel for our workshop. We do these one on one, we do these workshops with our one on one private clients and it’s a lot of fun. We actually roll up our sleeves, it’s more of an implementation workshop and we set up and install their systems and schedule out their marketing. It’s like turning the dial on a, I keep on wanting to use this analogy and I can’t remember what it is. Like you turn a dial or something and you twist it and turn it and it gets going and then you let it go and it goes what do you call that? Anyway, you know, like those race cars or something.
Gavin: If you’re a kid, you pull them back and let them go and it goes.
Joe: Yeah, that’s good. Like a race car, you pull it back, you build up that tension and then you kind of boom, you let it go and it goes racing off. That’s kind of what we’re doing in these private client workshops, which is so much fun. We keep it small to maybe 12 people and we do them about once a month, once every couple of months and it’s a lot of fun.
Joe: Anyway, we are on our way right now driving there, but if we wanted to tell you something about a case study that we are releasing this week as we’re recording this and you can watch it next week if you’re listening to this then, but this is a case study that Gavin and I did. In the last couple months we did over $150,000 dollars in wholesaling fees in a virtual market, completely virtual market and we actually just rolled back the curtain and showed everybody on this case study video we did step by step what we did. How we selected the markets, how we found the sellers to market to the marketing that we did, the scripts that we used to talk to them, to text them and to talk to them. And then how we found a, our wholesaler boots on the ground partner to work with how we wholesaled them and closed them and all of that. It’s such a really simple but powerful case study. And you know, we don’t just talk, walk the talk. We no, no we don’t just talk the walk, we walk the talk, we actually do this stuff. And so if you’re interested in getting more information and we’re looking at that video, it’s about 45 minutes long and it’s jam packed full of good stuff and you’re going to like it a lot. But go to VirtualCaseStudy.com VirtualCaseStudy.com. Gavin talk about, we’re doing this in a couple different markets. Our main market is Birmingham, Alabama. We’re working with Melissa and Kerry down there too, awesome students. They came to a workshop like this. No, no. Did they?
Gavin: Yeah. San Diego.
Joe: San Diego on the boat that’s right. They didn’t come to St. Louis that’s why I couldn’t remember. But that was a fun workshop we need to do that again. But talk about Melissa and Kerry would you have just because they have such a cool story.
Gavin: Yeah, no problem. So it is a unique story. When they signed up, Kerry had been to multiple events or multiple courses, a lot, I wouldn’t say not done anything, work gets in the way, life gets in the way. So when he came to our event with Melissa in San Diego, I kind of sat in the back of the room with them and we were talking if this is going to be a good fit, just like we do any student, we need to make sure, we don’t just onboard anybody. We have to make sure that we’re going to be a good fit moving forward in terms of time investment, things like that. And Melissa, it was funny because she was just having none of it. She was just like, whatever he wants to do, that’s fine, but I’m not, I don’t want to be involved at all.
Gavin: So anyway, Kerry came joined us, real quick, same thing happened. He got real, real busy and this time Melissa saw how much money he had been spending over the years. So she decided that she was going to start getting involved. So when she did she started to enjoy it. And it’s funny to see some old grow from just from a mindset and see what’s the potential in this business from making, you know, a first $3,000 check, which is awesome. And she knows that she couldn’t believe that it happened, but then actually taking that to now we don’t do anything less than a minimum of $10,000 a check. And now that’s the bar. So you can see how then you can grow in this business to take it to the next level.
Gavin: And it’s interesting because you know, with, with Melissa, now she’s full time, okay. Left her job within three months. The next thing she said, I don’t want to go too much into figures, but when we started to partner with Melissa it was, could we feel that we could make you know, $60,000 in this business? And I was like, yeah, if we don’t make that something is seriously wrong, and we actually smashed that goal even to the fact that Kerry then managed to get in year one of his job as well. So both of them full time in real estate and he’s just been going strength to strength, open up different markets. And once you get this down guys too, I guess it was not even a science. If you work hard and you focus on the right things, you can literally do anywhere. And developing, I mean, Melissa was with us when we did a deal in Maui, Hawaii.
Gavin: So when I present that, hey, let’s go and do a deal in Maui, like she thinks I’m absolutely crazy and I’ve lost my mind, but it’s doable. And then it’s just installing and showing how it’s doable. And then we went out and did it. From, I’ve been to Maui once and Melissa’s never has and we’re doing deals there. So you don’t need to know the market. There’s no excuse if you’ve got to go virtual. If you’re in downtown San Francisco and you have to go into virtual market, then do it. And it’s always easier. I agree, if you can start in your own market, then do it. That’s what we would always suggest. And I think most people would, sometimes that’s not an option. And soon as you get over a couple of things in your head around the mindset of, I’m not going to go to this house, if you just think about that for a second, if you’re not physically going to walk in the house, does it actually matter where the property is?
Gavin: If you’re not going to walk in there and the answer’s no, because if you’re not going, you can get other people to go. And that’s the idea of systems, okay. As a wholesaler and there’s people listening probably done some deals, but you’re only going to be able to go a certain amount in this business on your own in terms of how much money you can make as a single person in this business. And you can probably return, you know get out your job full time doing it. But it becomes a time when you need systems to help you because do you want and it’s fine if you do, but do you want to know the job because if you’re a single wholesaler or lease options, whatever it is that you’re doing, it’s kind of another job until you have the systems in place to give you then the freedom that potentially that you want.
Gavin: You know, I know for me and Joe, for when what we do, and I came through the program when I got into it. So all I know is virtual and I always look at it, is that you need to build a business that works around you. You can’t fit to the business, the business fits to you. So you put a plan in place to say, right, what do I actually want my life to look like? What do I want to create? And yes, you’re going to have to work hard to start with, but your end goal is still moving towards maybe working an hour a day on the business maybe full outsource, maybe, whatever it is, you can create that if you have the vision from the get go. Everyone does it the other way around, they work hard and guess what? And I have tons of wholesalers can’t have a week off.
Gavin: Even if they’re making a $100,000 a month, you have a week off you’ve lost $25,000 grand if you’ve got no systems in place and that, and it depends on what you want, but for us and our clients, it’s the same thing. Get the systems in place to start with so you can make money in this business. The only way that you’re going to do that, like it or not, is going to be talking to sellers, making offers and following up. That’s the only way that you can make it. Or if you’re not going to do it, someone’s got to do it for you. So it’s got to be one way, one of them two ways it needs to be done guys, okay.
Gavin: And we have, most of our clients are not full time. They all start with jobs, about nine to five jobs. But if you imagine this, your, whenever you’re listening to this, you might be at work driving home from work, but imagine if you’re coming home from work and you’ve got leads sitting there ready to call right now and your drive. How would that make you feel? Or would you rather feel like you driving home and now you’ve got to get on Craigslist and Zillow and start sending text messages and hope someone replies, why not have the leads ready to go? So your time that you can spend is in a high dollar an hour activity. And that’s the key if you have full time jobs, that’s what he’s going to take to get out of that job and to get into this full time.
Joe: Well that’s awesome. And the key to that I think is what you were just saying is getting those leads waiting for you that are already been pre-screened. We’ve always teach this over and over again that the secret to success in this business is marketing automation and delegation. So you figure out the marketing, which is easy. I mean getting leads is actually really, really easy and it doesn’t take a ton of money to do that. But getting the right systems in place, that’s important critical piece of all of this. Because without systems leads just fall through the cracks and you’re losing money instead of making money because you’re spending all this money on marketing and on education. But if you don’t have a system to handle the leads as they come in, to prescreen them as they come in, so you’re not wasting your time with tire kickers, then you’re just kind of floundering, right.
Joe: So that’s the cool thing about this workshop. I love it. I love that analogy of that little race car and you pull it back and back and back until it can’t go anymore, you know. And then you put it on the ground and it races off. Every one of our clients that come to these workshops, they’re racing off with more speed. And sometimes you have to be careful because they get overwhelmed quickly with leads, which is a good problem to have. It’s a better problem to have that. But they also, the good thing about what they’re doing is they’ve got a coach in their corner that’s telling them what to do, what not to do. So anyway, this workshop we’re doing is similar to what Melissa and Kerry did with us a couple of years ago. Now they’re both, they both quit their job, they’re both doing this stuff full time and they’re partnering with us on deals, which is amazing.
Joe: A lot of fun. And one of the reasons why we do this with clients, these kinds of workshops with our clients is because we’re looking for more folks to partner on deals with. Now, you may not be looking for somebody to partner with you on deals. You may just be looking for some coaching. You may just be looking for somebody that wants to help you start this, the marketing, set up the systems, find the people to delegate everything to and that’s what we’d love to help people with. So if you’re interested in kind of figuring out and seeing more about what we do and how we’re actually doing these deals now in a virtual market, go to VirtualCaseStudy.com VirtualCaseStudy.com we did about a 45 minute video just showing you what we did, how we do it and you can check that out.
Joe: I think you’re going to like it. Go to VirtualCaseStudy.com VirtualCaseStudy.com and I know somebody’s listening to this. Gavin is going to be at our next workshop. I know and probably we’re going to do it in May and if it’s full we’ll probably do another one, I don’t know about June, maybe July, but come to the next one in May, it’s going to be a lot of fun. You’re going to walk away with a complete working wholesaling business up and running with the marketing with the systems with the VA’s. Cool. All right guys. We appreciate you all. We’ll see you later. Go check it out VirtualCaseStudy.com. Bye Bye.
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