Welcome to REI In Your Car. I’m giving you a quick tip today. I’m hurrying home for an important family occasion—a scheduled FaceTime call to see the Goldendoodle puppy we’re getting soon.
I want you to get some use out of those courses you’ve bought and never read. Most of you probably have a few hanging around on your computer. My advice is to send it to your VA and have them study it.
They can share with you what they learn. They may even have ideas of how they can best support you if you choose to implement this particular business approach.
I did this with my assistant, who was a realtor. She updated me on her progress once a week. The subject was bidding on HUD houses. I literally forgot I’d bought the course, so I never studied it.
My assistant took it and ran with it. She documented all the steps and snagged pertinent spreadsheets. She began buying HUD houses and we both ended up with a new income source.
I did the same thing with a land course. Friends studied the content and taught it to me. They developed procedures and scripts for dealing with buyers and sellers. We’ve since done 25 deals together.
Listen and learn:
- Invest in the most important real estate there is… the 4 inches between your ears.
- You can hire a VA, who works full time and only for you, for $500 a month.
- In a year’s time, that VA will surely bring you a deal that will pay that salary.
- Perhaps a VA could handle your marketing or scour the MLS for you.
Mentioned in this episode:
- Joe’s podcasts on iTunes: Real Estate Investing Mastery Podcast
- Find a VA: Virtual Staff Finder
- Invest in HUD houses: HUD Home Store
- Password management: LastPass
Download episode transcript in PDF format here…
What’s up guy’s. Joe McCall, REI In Your Car podcast.
On this episode, I’ve got a quick tip for you guys on how to get more stuff done and how to take the dust off of the virtual courses that you’ve bought in the past and actually get them done. Cool, you ready? All right so I just got a few minutes because I just left Starbucks and I’m heading on home and I’m a few minutes away. We’re actually getting a puppy and we have a Facetime video call with the breeder so the kids are super excited they get to see the dog. It’s about the breeders, the breeders about three or four hours away. And we’re going to pick her up in a boy, I don’t know, a couple of weeks. And in case any of you are wondering, is a golden doodle. Probably going to be about 35 pounds and well we don’t know yet, but yeah, cool, exciting. We have another dog who was five years old who’s also golden doodle and she’s just wanting a friend.
But anyway. All right, so here’s a great tip that I have done before many times, and I’m going to recommend you to do as well. We’ve all done it, right? You’ve bought a course that you’ve never even cracked open, or maybe you did at first and you looked at it and you thought, oh, great. Yeah, that adrenaline crack cocaine high has faded when you bought a new course and you’re just like, oh man, I need to go through that, I forgot. I’m just been so busy. I want to do it. Well, what do you do? Well, here’s some advice, go hire a VA and have the VA go through it for you.
Let me give you an example. A while ago, oh, I bought a course on how to bid on HUD properties. You know, if you go to HudHomeStore.com and about a year after I bought it, kind of forgot about it, right? And I thought, oh man. And I went through it and it’s still relevant. You know, the guy who I bought it from was still selling it and I thought, okay, I need to implement this, but where on earth am I going to find the time to do that? I started thinking and I thought, you know what, my assistant, yeah, my assistant and my assistant at the time was a realtor and I gave her the course. I said, listen, I want you to start doing this and I kind of know what needs to happen, but I don’t want to teach you anything. I want you to go through this course and we’re going to have a meeting once a week and I want you to update me on your progress. Shouldn’t take you more, I gave her like parameters, you know, I said, it shouldn’t take you more than a week to go through the course and I want you to give me like a summary report and how you are going to implement this.
And I said, my big goal is I want you to create a standard operating procedure, SOP and when you to create the SOP, learn how to do this. And she said, okay. And the cool thing was fast forward about three weeks, she had gone through the course and she actually started creating, actually created a Google Drive folder and she documented all of the steps and the processes and if there was a spreadsheet that was in the chorus, you know, she put it in that folder and she actually started bidding on HUD’s and we did a few deals from it. In fact, we had some buyers, at the time we were doing a lot of marketing for buyers and I found some good buyers that were looking for more deals that we didn’t have so we couldn’t give them enough inventory.
And so I told her, I said, listen, I’m just going to turn you loose. Why don’t you go do the HUD Home Store stuff and start bidding on properties? And so she did and she did more than just bid on HUD properties. She started taking that and just contacting regular MLS listed property. So we started wholesaling properties through my assistant who was a realtor too with the buyers that we were finding pretty cool, huh? Another example is land investing. I’ve been wanting to do land investing for a long time, so I bought some courses on it. So here’s the thing, I really am a firm believer in investing in your education. The best real estate you’ll ever invest in is the four inches in between your ears. And so I’m constantly buying courses, just trying to better myself, but I’m not buying them anymore thinking, all right, I’m going to get, when am I going to do this or whatever and how am I going to find time to do this?
I’m buying it thinking how can I get my VA, my virtual assistant or my US-based assistant to actually start doing this for me? So I’m looking at her bandwidth. Does she have the bandwidth to do this or not? So if the land investing, we bought some courses and I found some friends who wanted to get into real estate and I said, hey, listen, let’s partner on this stuff. I’m going to buy these courses you go through them let’s meet every week for the next month. Now these courses were a lot more in depth then and a content rich, right. So about two or three months later, they had finally gone through all the courses, we had a bunch of meetings. I was having them teach me what they were learning, right. And they came up with the SOP and the contracts and the checklists and all of the scripts and everything that we were going to be using.
And so yeah, fast forward a couple of years after that, we’d done 25 something deals and cool, yeah, great. What else could you have, do you have right now sitting on your bookshelf? Do you have sitting in, you know I use Lastpass for a password management tool, right? Some of you, what’s the other one that a lot of people use? I forget. Anyway, so how many courses do you have in there that are just collecting virtual dust and you need to do something with? Why don’t you go and look at those and start asking questions like, well, who could implement this for me? Maybe you just need to go and hire a full time virtual assistant to be your course implementer.
You can get a good VA at some place like VirtualStaffFinder.com again, VirtualStaffFinder.com you can get a good full time VA for $500 bucks. You tell them what you want, you know, and the great thing about Virtual Staff Finder is they’re going to find you VA’s that are going to be dedicated working only for you full time. So they’re not project based virtual assistants, they’re dedicated just for you. And you could tell them, I want you to work, you know, between 8:00 to 5:00 eastern time or whatever your time zone is.
But you can get a real good full time virtual assistant for $500 bucks an hour, $500 a month, $500 a month, or like an executive level admin assistant for $1,000 a month. Just think about, you know, let’s say you’re paying somebody $500 a month, that’s $6,000 a year. Do you think a VA implementing a new course that you bought or some kind of marketing thing that you are looking at and studying? Do you think one VA in one year’s time could do at least one deal for you to pay for themselves? Yes. Chances are it’s going to be a lot more than just one deal. So I just wanted to challenge you.
I guess that’s it. You know, if you haven’t thought about that before, get a VA to start implementing some of the stuff that you’re learning. Maybe it’s a podcast or a blog post or a YouTube video. Have a VA start implementing and doing your marketing or implementing these systems for you bidding on the MLS. Why don’t hire a realtor to go find, I mean, a virtual assistant to find realtors and start sending emails and marketing to them and making offers to them. Anyway, I got to go, I’m out of here. Go get yourself a VA, a virtual assistant. See you guys. Bye.
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