All right, welcome, everybody. My name is Joe McCall and I am the host of the Real Estate Investing Mastery podcast. Been doing that podcast since 2011 and I've also been full time in real estate since 2009. And I started studying real estate in 2001, really started buying houses in 2006 at the height of the market. You know, nothing bad would ever happen in real estate. Real estate always goes up in two thousand five and six. And then the market crashed and I made a ton of mistakes made. But a lot of bad deals and yeah, kind of sucked. All right. I've told my story a hundred times, but I quit my job in 2009, a year after the market crashed. And had I found that there was a lot of opportunity out there. I just refuse to let fear control me.

And so I wanted to kind of share some things that I've been thinking about a lot. I just got back from Colorado and I was there for a week. We just planned this trip about a week earlier. So two weeks ago, we decided, let's just go to Colorado and let's get out of Dodge. And we went to Colorado. Before anything and everything was really shut down. So while we were there, just kind of briefly looking at the news once in a while. Pretty much they started shutting everything down. And our church, for example, stopped having services and started doing everything virtual. But we were in Colorado. It was nice because we were disconnected. You know, I couldn't get on the phone. There's no cell phone coverage where we were. We were at this really beautiful, a five hundred acre ranch kind of north of Winter Park, Colorado. And we just hung out. There's a huge ranch, you know, fully catered, everything done for you, take care of you and all of that. And it was really nice. Had a blast. My kids, I have four kids. It was just a really, really nice, well needed vacation for our family.

And sure enough, and all the ski resorts closed when we, the ranch itself was going to close a day or two after we left. But it was nice to just get away and disconnect. And I spent a lot of time thinking, spent a lot of time thinking about what are we at in the market now and what's going to happen and who has the answers and who doesn't. And I spend a lot of time, actually, because we drove to where I had had enough miles to get a free flight with Delta. And so I had round trip flight plan for all six of us. But my son had like this little minor cough and I was worried that people were going to be freaking out on the plane if my 14 year old son is coughing. Right. So I called Delta and I said, hey, can we just cancel or reschedule our flights? Give me credit for another time. And they kindly refunded my money.

So we rented a car and we drove out there, which is about a 14 hour drive anyway. So I spent a lot of time driving there and driving back from St. Louis thinking about the market. What's going on in real estate? I spent a lot of time listening to podcasts and videos and no, not reading articles while I was driving, but reading articles last couple of days just thinking about it because what can I shared with people that will help them? And then there's you know, you go on YouTube and Facebook right now, there's a million people doing videos and sharing stuff that is helpful. And you've probably heard a lot of this before from otherpeople.

But I just want to do my part to encourage you and to help you guys and tell you kind of where I'm thinking and what's going on in my world, because I'm actually looking at this whole situation is going on and asking myself a real simple question. Where's the opportunity going to be? Where is the opportunity going to be? And my son is better, by the way, some of you are asking, and he's doing great. OK.

So how would you like some good news first? Are some of you tired of all the bad news? I just saw this Instagram post last night from Dave Ramsey. And if you see my screen here, that's great. If not, I'll just do my best to kind of read what I'm saying here. But Dave Ramsey posted this. So good news. And he also gives the sources where these came from. Number one, China has closed all 16 temporary corona virus hospitals in Wuhan, and they don't have enough new cases to support them. Also yesterday on the news that for the first time since this whole virus broke out, there was not a new case of Corona virus in Wuhan. That was yesterday. All right. Doctors in India have successfully treated an Italian COVID-19 patient. The combination of drugs used include Lappe and Naver, whatever, whatever and whatever. One other note, good news. A team of 10 scientific researchers, researchers from the Erasmus Medical Center in Rotterdam and Utrecht University. Where is that? I don't know. They say, though, that they are the first in the world to discover an antibody capable of fending off an infection of Corona virus. The discovery could lead to an anti-viral medication. All right. That was post picture number one. Picture number two. One hundred and three year old Chinese grandmother has made a full recovery from coronavirus after being treated for six days in Wuhan, China, where this whole thing started. Apple has reopened all 42 of its retail stores in China.

By the way, let me say this, too. I was listening to one of these guys that I follow and he was talking to his friend, who has a large company that makes candles. He sells candles in the United States and in the last week. Everything in his supply chain is back up and running now. Now things still are taking time to get back to where they were. But all of these candles were made in China. And as of the last week, the manufacturers, suppliers, have shipments and things like that have been back to normal. In fact, I just ordered some new camera equipment and I was hoping I can have it ready for this webinar so I can show off my new fancy camera and the lighting and all of that. But anyway, there is this part that I ordered about two or three parts from China, and they were delayed about three weeks. But while we were gone, I got these parts. There are camera parts right from China. They were shipped from China. So I'm getting things here.

Also, I was at the grocery store yesterday and they were in stock with everything except for toilet paper and eggs. A few some other things, too, like bread was really, really low, but they had enough bread. And yeah, there are some other things that we're running low, too. But I was pleased to see this. I mean, being in Colorado kind of in the middle of nowhere, sheltered for a while. I was worried that the grocery stores would be empty, but there was a ton of produce, a ton of meat. I bought a bunch of food while I was there. All right. Also, the other thing here from Dave Ramsey, the Cleveland Clinic has developed COVID-19 test that gives results and hours, not days. And if you're if you don't see my screen here, this is all coming from news sources like the BBC and Fox and NBC and ABC, New York Times and stuff likek that.

I got good news from South Korea. The number of new cases is declining. And then this is good news. But Dave thought it was right. And by the way, regardless of your opinion of Dave Ramsey, I know some of you like him. Some of you hate him. He's really polarizing. I think he's a good dude. Some of you, I'm just saying that because you may not like him, but whatever. One of the reasons why Italy was hit so hard, experts say, is because they have the oldest population in Europe and the second oldest population on earth after Japan. Did you know that? Well, now you do. So that's encouraging or not. But one of the reasons why it is so bad in Italy is because they're so old. Multiple potential coronavirus vaccines are currently in development and testing it with at least three in the United States. That's from NBC News. Something else from Fox in Washington, D.C. The first three people to test positive for coronavirus in the state of Maryland have recovered and are able to resume their normal lives. And the three include a married couple in their 70s and a woman in her 50s.

And also, if you're a Tom Hanks fan. He's a cool dude. Him and his wife. They posted something on Instagram the other day that they're doing fine. They were kind of sick just with simple flu symptoms, but they're doing a lot better now. Another thing for The New York Post, a team of Canadian scientists have successfully isolated and grown copies of the Corona virus, bringing the world a step closer to finding a vaccine. San Diego biotech companies developing a Corona virus vaccine in collaboration with Duke University and the National University of Singapore. And then finally here, the first person to test positive for Corona virus in Oklahoma has recovered. This individual has two negative tests, which is an indicator of recovery. So, you know, I just wanted to share some positive news with this whole virus stuff.

OK, now let's talk about some big picture things. And I want to do my best to kind of go through this. I have a lot of stuff to cover, and I will find a way to give you this mind map if you want it. I'll do my best. OK. And some of you have seen the comments here. You're saying thank you for sharing. I appreciate this. If the sound is coming in and out, please let me know. And some of your correcting my pronunciation of the universities that I got all wrong. So thank you for that. I'll do my best to share the mind map with you. All right. So let's talk about big some big picture stuff, right? Every crisis comes with an equal amount of opportunity. And this is really, really important. Write that down. Underline it.

Every crisis comes with an equal amount of opportunity. I'm going to be talking about this letter later to wealth and money just does not disappear. It transfers money. Wealth does not disappear. It transfers. It's leaving the stock market right now, but it's going somewhere else. Right. There are companies that are doing really poorly right now, but it's going somewhere else. And there's companies that are doing really, really well. There's certain aspects of real estate investing that are going to be doing bad now, but there's other aspects of real estate that will be doing good in the future. So when crisis strikes like it is now, there is opportunity out there. And this is my whole goal of this webinar is to help you find the opportunity and help you start asking the right questions.

1. So with every crisis comes an equal amount of opportunity and all depends on how you react to it. This is the time to keep your eyes open, not shut down in fear hiding your head under the sand. It's time to now keep your eyes open and understanding that this too shall pass. It's just a matter of when. OK. So there are two very, very important rules here. Number one, time is your friend. And number two, emotion is your enemy. Let me kind of explain this again. Number one time is your friend. Number two, emotion is your enemy.

Time is everything when it comes to being prepared for a crisis. Right. No one knows what how long this thing will last. Maybe this will all blow over in a couple of months. Maybe it won't. Maybe this is a slight blip. You know, maybe it's something more major. But there's one single fact that we know is we don't know how this will all play out. Right. So you need to detach yourself from your own bias. You just don't know the future. And you've got to admit it. You. Be aware of this. Like and if you are overly optimistic and think that, you know what, this is all just a big hoax. It's a conspiracy. It's not really that bad. It's not a big deal and it's just going to blow over in a few weeks. Or you could be a lot more pessimistic and think that's the end of the world. The world's falling apart. The sky really is falling and this is depressing. And you're just gonna fall into this huge depression. Well, both sides are probably wrong. Okay. Somewhere in the middle, maybe. But who knows?

And I'm just wanted to tell you that it's okay not to know. You just don't know the future. Detach yourself from your own bias. OK. Stop thinking that it's going to be the worst and stop thinking that it's gonna be the best. You need to prepare for both. You need to prepare for both best case and worst-case scenario. You know the saying. Hope for the best, but prepare for the worst. So don't be over reactionary. Just calm down and be okay with not knowing what's gonna happen because time is your friend. The more time you can give yourself and your business, the more likely you're gonna be able to be prepared and recover. More time gives you the ability to make better, more strategic decisions. All right. More time to make better adjustments and make the right moves. Does that make sense now?

While time is your friend, emotion is also your enemy because fear is going to cripple your business. Fear drives short term decisions. Short term decisions driven by fear caused long term problems. During these times of fear and panic, people become irrational. And most people follow emotions rather than logic something sense. So don't let emotion control you. Emotion is your enemy. Don't let the fear of what could happen affect your decisions, because again, short term decisions cause long term problems. People are gonna be irrational. And it's just not who what, we just have to decide today. That's not what we're gonna do. It's time to look for opportunities, kind of like a wildfire. You know, when there's a fire, a crisis burns down the weak, not the W E E K the weak w.eak. And it allows new life to grow. All that new space creates an opportunity for new businesses and ideas to flourish.

And tons of business have started in big recessions. All of these companies started after the crash of 2008. Air B and B? Well, they're not maybe doing great now, but you know, it was doing great. It'll come back. Uber, WhatsApp, Pinterest, Slack, Stripe. And there's a dozen other companies. These are big tech companies that started when the market crashed because of opportunities that they were out there looking for. Now, the other thing I wanna talk about is your mind will find whatever you focus on. If you focus on fear, you're gonna find scary things, but you can also focus on opportunity. So let's just decide right now. We're going to focus on opportunity because there's a lot of it out there. And, you know, I'll talk about this in a minute, but that book, Who Moved My Cheese? We need to know where the cheese is going to and follow it.

So how can you use this to find empathy for your customers and not take advantage of them? So I want to be careful and explain this, because I'm not talking about how to take advantage of people. I'm not talking about how to take advantage of this situation in the negative terms. I'm saying like, how can we find opportunities that can help us or allow us to find empathy for the people that we serve like our customers? Right. How can we? It's like asking things like how can I serve them more? How can I serve them better? Don't pretend to just ignore the problems with your customers and hope it goes away. Start asking questions like, what can I do to make my customers lives a little easier? You know, your buyers and sellers in your business or whatever business you're in. What can you do to make their life a little easier? And that's about finding empathy for our customers right. Not taking advantage of them.

Because I just wanna clarify, when we're talking about new opportunities. I'm not looking for I'm not talking about opportunities to steal a bunch of toilet paper and sell it for five times the amount I paid for it on eBay. That's not an opportunity that we want to be a part of. We're looking for opportunities in ways that we can serve people better and help them solve their problems. OK, so some big things that I want to talk about in terms of big picture. There's some general principles and then I want to go dive deeper into the real estate stuff, but this kind of is more general mindset. All right. That relates to real estate. And we'll talk about it here as we go through this webinar on this podcast. But I want to talk about some basic general principles that are going to help you succeed in this time of crisis.

1. Number one, invest. Don't say invest. Don't say there's a difference. Invest for the long term. Warren Buffett is famous. Quote says, Be fearful and others are greedy, but be greedy when others are fearful. So when people are fearful, they're letting their emotions determine their decisions and the market starts panicking. I just looked earlier today what the market was down 26 percent in the last, say, year to date or the last 12 months. But it's significant. Whatever it is. Right. So it's time now to be greedy in the good sense of the word, not fearful. All right. So don't stop marketing. Your competitors have stopped marketing. It's time for us to double down on marketing. It's time to us for us to invest in our businesses.

Now I did this study recently of the Great Depression and some recessions in the past. And I was in New York City was a couple of three, four months. This is November. So it's about five months ago. And I saw this image at the Rockefeller Center. And it's a picture of a guy during the Great Depression right after the stock market crash where he's trying to sell his car. And it's it looks like a real nice car. It looks like, you know, he spent a lot of money on it. I don't know. But he has a sign on there that says one hundred dollars will buy this car, must have cash. I lost it all on the stock market. He looks a little dejected.

So I was thinking about that and thinking, man, that's kind of depressing. That's kind of sad. And I was reading down below that image at the Rockefeller Center. They were talking about Rockefeller. And let me read this to you, because on Black Tuesday, October 29, 1929, the stock market crashed. Boom turned dramatically to bust, triggering the Great Depression, the worst economic collapse in the history of the modern industrial world. And it lasted about four years. New York was hit especially hard with three quarters of a million people out of work. At 750000 people out of work in New York. Temporary shantytowns or Hoovervilles, as they were called, sprang up in Central Park and along the East River. But Rockefeller, by creating over 75000 jobs, helped keep many people afloat during those dark days. And as in the Rockefeller Center there, if you've ever been there, it's this beautiful building. And he built that building during the Great Depression.

And one of the reasons why he didn't he did it to make a profit, to make money. But one of the reasons why is he was able to help all of these people that were unemployed with new jobs and a lot of the wealthy people, the big titans at that time. Andrew Carnegie, Rockefellers, there's a couple others that their names are escaping right now. They doubled down and invested and created jobs for people. We can't rely on the government. Now study it for yourself. I want to encourage you. There's some links I have here in this mind map. But you can also just go to Google and do a Google search. Go to Wikipedia. Do a search for the Great Depression and read this. It's pretty fascinating to read what happened. Do another Google search for what sectors did well during the Great Depression. What sectors did well during the Great Depression. And you'll find a lot of good articles in there about which kind of stocks and companies that did well.

And as I did this search, I found this great article by a Web site called Mental Floss.com. And it was called Five Great Depression Success Stories. And if, again, if you just go to Google and do a search for what sectors did well during the Great Depression or go to Google and do a search for five Great Depression success stories. This was an article back in 2009. So, what, eleven years ago and I thought it was really fascinating. And some of the things that this article talked about where these companies that survived and thrived during the Great Depression and what did they all have in common? I started making some notes. Number one, they had cash before the crash. Over two, they had little to no debt. They used cash to buy assets at huge discounts. They spun or sold the assets for more cash. They lowered their prices. They increased their marketing. They diversified. They got creative with marketing and incentives. And they didn't forget the small guy.

So this is some of the things I want to be talking about in this webinar. But notice these companies, they increased marketing. They diversified. They got creative with marketing and incentives. They didn't forget the small guy. In fact, they created a lot of more, they created a lot more products for the people that needed it. The most fascinating article. And you should read that. OK. Now, number one, invest. Don't say no to grow. Don't shrink, grow. Don't shrink. What I mean by that? Well, you got to be careful with what you see now in social media and in the news. Why? Because you are what you consume. What you focus on will grow. Like I talked about before. If you focus on fear, then fear is going to grow in your mind and you're going to see whatever you're looking for.

So sometimes you know what? And we just got to shut off the news. It's obnoxious. They're probably the main source of this panic. Sensationalism sells, right? Fear sells. It's always this flash news. Then this was a problem before this crisis happened. Right. But it's even worse now. And it's you want to get depressed and discouraged. Just look at the news. Dove into social media. Right. So I want to encourage you guys to grow. Don't shrink. Your income will only grow to the extent that you grow. And how can you grow during times of uncertainty? Well, invest in your education.

This is a great time, especially if you're home now. Read some books, get some online courses, listen to more podcasts, watch more videos, things like this. Educate yourself. Whatever you do, don't binge on Netflix. Come on. Are you serious? Turn the TV off. Take a walk outside. Take some time to get some fresh air and spend some time thinking, which I have a lot of time to do while I was driving 15 or 16 hours each way. So I spent the last week about 30-32 hours in the car. It's been a lot of time thinking and listening to podcasts and stuff like that. And that's kind of I think maybe one of the reasons why I'm more optimistic, I'm kind of excited, I turn the TV off. I don't watch the news. Occasionally I look on it to see what's going on, but especially before you go to bed. The worst thing you could do is turn on the news. All right. By the way, a lot of you guys are doing that, if you're typing in your questions and comments, please keep on doing that. I will get through them and do my best to answer your questions.

And if you have some comments or things that you want to share, based on what I'm saying, please type them in the comments and I'm going to go through them here when my little webinar podcast is done. Related to that is the third thing hoard positivity, not toilet paper. All right. It's all about perspective. Guys, listen. Our grandparents were called to go to war and pick up guns to defend our liberties. And we're fighting over toilet paper and we're worried about washing our hands now. Okay. I know you're supposed to wash your hands. Don't touch your face. Stay 6 feet away from anybody I know. I'm not not saying don't do that, but where's our perspective? We need to be thinking like this is temporary. Guys, let's be grateful and let's focus on the positive sides of things, okay?

You can't win your outer game if you're losing the inner game. What does that mean? Well, you need to think about what's going on in your head, in your body. Eat. Start eating good food. Stop eating junk food. I was at the grocery store the other day and I saw a guy hoarding a ton of Red Bulls. Maybe he was collecting Red Bulls because there wasn't any bottled water. I don't know. But I'm seeing a lot of bottled water is now in the stores. But yeah, I think maybe drinking a bunch of Red Bulls during this time is not a good idea. Obesity. Bad health. Kill way more people than any flu virus. So we need to double down. I'm talking about me as well. I'm talking to all of us. We need to double down on our health and our diet. We need to take vitamins. I drink a lot of this vitamin C tea stuff that helps boost my immune system. So think about this stuff. Get some sleep. Stop reading the bad news. Stop reading any news before you go to bed. Get some sleep. Start thinking about boosting your immune system, taking walks and thinking about your inner game. Talking about your body more than just mentally but your body. Because when you don't have enough sleep, you don't drink water. Right. Drink more water. None of us drink enough water. But when you take care of your inner self, your body, you're going to feel better and you're gonna be able to spot the opportunities a lot better. Right.

And the other thing related to that is gratitude. Stop complaining. Be thankful instead of saying, oh, why is this happening to me? Start asking things like, how can I grow from this? What can I learn from this? Where are the new opportunities? Stop complaining. Find something to be thankful for because we all have things to be thankful for and start asking yourself better questions. What can we learn from this? Where are the new opportunities? What? Where did the cheese move to? All right. The other thing here is be a producer, not a consumer. Your circle of influence needs you to be positive and encouraging. This is why I'm saying be careful with social media. You have people around you that you lead and you influence at work or at home, at church, in the community. You are a leader. If you are on this webinar. I'm just telling you right now, you are a leader and I want to encourage you to be a producer, not a consumer, especially guys, if you have kids.

Teach them this stuff. You want your kids to be a consumer or a producer. One of the things my son, he just asked me if he could download some game for his iPhone. And they have to ask permission before they download games. I don't. I hide the codes from them or whatever. And I had a stroke of brilliance. Why? Because I think I have been spending a lot of time thinking. I said, you know what? Yeah, I'll download a game for you after you create a business plan. So we've been doing some land investing. Me and my two boys are 14 and 16. Right. I said I want you guys to create a business plan. And they're like, what is that? So I got to teach them a little bit about that. I actually found a book on Amazon about how to create business plans for teenagers. And I bought it. It's probably delivered by now. I'm not sure I have to go check, but I said, listen, I want you to read the book, create a business plan. It doesn't have to be complicated. It can be on just one or two pages. And I want you to create a business plan. I want you I want my kids to be producers, not consumers that sit all day playing video games. I want them to create businesses. I want them to create jobs. And I want to encourage you as well. You're facing this with your family and your people that you're leading around you. Are they looking at you as a producer or as a consumer? You are required to step up and lead. People need leaders now more than ever. So it's time, guys listen. It's time to show up and serve.

You have a responsibility to you, your business, your team that you lead and your customers. Now is the time to create a safe place to communicate with your audience, show up, support them, let them know that you're here and help them in any way that you can. It makes sense. So let's do that. The other thing here. Learn to identify problems and then solve them. As this situation evolves, there's new problems that are gonna be emerging every single day. But as entrepreneurs, we are problem solvers. There's exciting new and innovative ways that people and businesses are adapting to change. Right now. Right is what we see going on. People are companies are telling people to work from home. So there's new opportunities coming with companies like Zoom or go to meeting or log me in Skype slack where people are now relying more on technology, things like we're doing right now. So there's opportunities, right? Brick and mortar stores are offering specific hours for a high-risk consumers. Restaurants and cafes are moving to take out into go options.

In fact, on our way here, on our way back to St. louis, we love On the Border salsa. Who are watching this or listening to this right now knows what I'm talking about? I love me some on the border salsa. It's chunky, it's spicy and hot. And it's really, really good. Right. But there is no On the Border in St. Louis. So on our drive home, we stopped in Kansas City and we were able to go to that on the mall, the restaurant, and order big two huge tubs of salsa to bring home with us, right? Oh, yeah. Some of you guys are telling me. Yes. You know what I'm talking about. Yeah, no. Hey, listen, Ricky, I'm not talking about the On the Border salsa that you buy at the grocery store. I'm talking about the fresh stuff that they make in their restaurants. It's a huge difference. So anyway, we were driving down to this area wherever we're driving. We stop here to buy some salsa at on the border and all the restaurants out there were closed. Right. But what is on the border doing? You can order by the phone, by their app. You can pick up stuff. And even though the restaurant was empty, they were still selling foods s we were able to get some. Right.

So there is there's new and exciting ways that people and businesses are adapting to this change. Right. Teachers are helping parents out at home. It's funny. We homeschool our kids. We know what it's like. Right. But there's a lot of funny memes right now going around the Internet and what a home is like now that parents are forced to be homeschooling their. There's a there's a meme of a stay at home moms saying, welcome to the jungle. Right. So it's kind of funny what's going on. But like teachers are taking advantage of this opportunity and they're offering to help parents out at home offering virtual reading lessons. Right. My daughter is in dance right now. And my other son's doing cello. And the instructors are actually doing virtual sessions with our kids, teaching them how to play the music and to do dances like that virtually. So there's a lot of opportunity, innovative ways out there.

The point is this: times like these create innovation and creativity and how you change and adapt to uncertain circumstances can have a huge impact on your business today and in the long run. So start making a list of problems that you're seeing right now and start asking yourself how can you start solving them? Start coming up with solutions, not problems. Solutions. People are living in fear right now and they will happily pay for solutions that will provide them a sense of safety and security. And we'll talk about how this relates to the real estate business, because when you figure this out, you're going to make a lot of money. There's a lot of opportunity if you're somebody who is wired your brain to come up with solutions instead of problems. This is why it's so important to ignore the news right now, because all they do is complain about problems. I'm talking about the left and the right. Doesn't matter if you get your news from NPR or Fox News.

It's funny, though, that heard a story. Bernie Sanders, you know where Bernie Sanders goes to get his conservative news? NPR. That's kind of funny, if you know what I'm talking about. Right. So it doesn't matter, right? They all complain about the same thing. They blame other people for the problems. They blame President Trump. They blame China. They blame the left. They blame the right. The liberal media, the mainstream media, whatever. Let's stop. Let's forget about the problems. Let's look at solutions. Entrepreneurs, producers come up with solutions, not problems. As you do that, you're going to learn to pivot and you're going to insert yourself into the customer's internal dialog. Right. For example, if you have urban bees right now, maybe, you know, because a lot of you would go to Airbnb look for homes in, a lot of them will show like really nice interior photos and stuff like that.

But what if you went and bought some really nice air purifiers, sanitizer products and you did a bunch of extra cleaning and instead you featured these things in your listings in the first couple of pictures, maybe in the first picture of your property, you show a bunch of hand sanitizer stuff, right? Or you show some pictures of your air purifiers that you have. You make sure your cleaning company is doing extra clean things and you feature that in your Airbnb listings. Right. I know air took a huge hit right now, but there are still people traveling and people will start traveling again here soon. So how can you make yourself stand out? Well, start featuring things like cleanliness and air purifiers and sanitizers and cleaning products and how you do extra cleaning in your listings and in your photos. The first things that they see because you will stand out. That's just an example of looking at this thing.

If you have Airbnbs, instead of complaining about the problems that you're having to filling your units, think about how can I solve these problems? What are people concerned about? What are my customers freaking out about in their in their head? Make sense. By the way, if you have an Airbnb, you should look at this as an opportunity because people rather stay in a hotel with 5000 people in it. Or they rather stay in an Airbnb and be with just their family. Me, if I'm traveling, I'd rather have my own space. And I'm only talking about that later to be very, very careful with density investing. If you're looking for new things to invest in, you know I'm getting way ahead of myself.

Prepare, not panic. You need to know your numbers. So I'm just. This is all kind of tying it together. I really I want you to understand it's important that you're not panicking, but you're preparing right now. You need to prepare. You need to know your number. You've heard the phrase ‘a data, not drama”, right? If you want to have a successful business, every business owner that I know who has a successful business, they know their numbers. They're not moved by drama. They're moved by data. I was in a mastermind one time. And there are some really, really successful business owners there and one guys who was there. He said to me, Joe, if you don't know your numbers, you do not have a real business. I was like, oh, dang it. You’re right.

So you need to know your numbers. Like, how much current cash do you have on hand? How much cash you have currently on hand? What's your current run rate? You know, at the rate that you're going, how much longer could you last if the money was shut off? Are you even bleeding cash each month? One of the things I did recently in my business. This was about three, four months ago. I knew my business was profitable. You know, we do deals with big publishing into publishing information and podcasts, videos and books and stuff like that. And I sell software and I do coaching and consulting and all that good stuff. So I have like three or four or five different things that I have like going on in my business and unprofitable making money. But just four or five months ago, I sat down and looked at each of those things individually by themselves. And this is something I want to encourage you to do. Look at each of the different aspects of your business as a standalone business by itself. And how profitable do you really think you are in each of those things?

And I guarantee you, if you've not looked at your numbers, you don't know numbers, you are going to be surprised. It's the whole 80/20 principle thing. 80 percent of your profits are gonna come from 20 percent of your efforts and 20 percent of your profits are gonna come from 80 percent of your efforts. In other words, also another way to put that is 80 percent of your problems are gonna come from 20 percent of your customers. So why not fire 20 percent of those customers? Right. If 80 percent of your profits come from 20 percent of your business, why not drop everything else and just focus 100 percent on that 20 percent? How much more profitable could your business be? So I had a certain part of my business. I'm not gonna go into the details, but a certain private part of my business that was causing 80 percent of my headaches and hassles and where I was spending 80 percent of my time and I was getting frustrated. I thought it was profitable. But when I looked at it as a separate business all by itself, I was only making a little bit of money every month, like five, 10 grand, maybe a month. I thought I was doing a lot more than that. Right.

And the thing that was where I was most profitable that I enjoyed the most, that was hardly spending much time in, that was doing really, really well. That's where most my profits were coming from. So I want to encourage you when you're doing if you're doing different kinds of deals, wholesaling or rehabbing or landlords or all that. Look at each of those as a separate entity, as a separate business, and look at the numbers and be completely honest with yourself and ask yourself how much is my true net margin on each of these things? Maybe it's even by deal. Look at your deals that you have going on right now if you're into rehabbing and where does your biggest net profit come from? And you need to focus on that thing that is most profitable and get rid of everything else that is not profitable. And this is especially important right now as we're coming into this change in the housing market. OK. I really do believe this. I'll talk about this more in a minute here.

But this crisis with the virus thing, you know, that probably will pass. But another virus is going to come later on in a couple, three years. Don't forget, just a few years ago, we had the H1N1, you know, the swine flu. We had a mad cow disease and then a bunch of other viruses that have been in the past. Right. So there it'll be coming back again. But that what's happening in the economy with the stock market, stock market crashing. Twenty five percent with all of these businesses closing and people out of jobs. This is going to be it's going to last for quite a while. I mean, we're already overdue for a recession. If you just look at the average cycles that the economy, the market goes through, we're already overdue for a downturn. And now it's here. And some would argue that what we've already seen it for the last six months or so, twelve months even before this happened. But now it's obvious to everybody that it's here. So this is especially important now that you prepare, not panic. Look at your business. Look at your numbers. Data, not drama. You may think you're profitable over here, but you're probably not. Look at your businesses by themselves as a standalone entity. The different things that you do, the different types of deals that you do, where is your profit being made and not being made? And you'll be shocked. You'll be surprised when you find out things that you thought were profitable or not. Like I just said, I'm repeating myself.

But this thing that I thought was making a lot of money, I was some months losing money in this other stuff that it was profitable was actually floating and carrying this other part of my business that I had. Right. What if I would have for the last one or two years when I was doing this other thing that I didn't like? What if I would have cut that off a year or two ago and I would have just focused 100 percent on this more profitable thing that my business was doing? How much more cash would I have on hand now today? Right. All right. So you've got to ask yourself, what's going to happen if things continue going on like this for the next three to six months? Twelve months. Face the facts. It's time to face the facts, face reality, rather than just brush it aside. And it's important to now communicate with your team and, you know, come up with a plan. This is important because when you are panicking, you're gonna make bad decisions. So when if you have a business, if you have employees, if you have overhead. You need to come up with a plan, and when you have a plan, you can think clearly and strategically, right.

And you need to create some event-based milestones that will trigger these strategic decisions and you need to come up with scenarios that will become your decision makers. This will remove emotions and your biases because, again, emotional, reactive decisions will kill your business. For example, you need to start thinking about these things and communicating these things with your team. Listen, we have for example, I got two examples here. Like we have three months to accomplish X, and if we don't accomplish that goal, this is what's gonna have to happen. Right. You can also say, listen, if revenue drops to this, then our expenses need to drop to Y. If our profit margins go to here, we're gonna need to look at reducing this or that. Does that make sense? So when you, cause especially if you have employees, you may be freaking out thinking, man, I don't want to fire anybody. I'm not going to fire anybody. And I hear story after story after story of companies in the past, small businesses like this who have waited too long to reduce their staff or reduce their overhead. Right. And what happened was that they became in a worse off situation because they waited too long.

At the same time, you don't want to freak out and fire everybody and cut all your expenses now and stop all your marketing cause that's a huge mistake. So, again, if you don't want to be driven by fear, if you want to make your decisions based on logic, you need to have a plan and start thinking about this when if you know your numbers. All right. Well, OK. We've got three months now if we can accomplish this. If we don't, then this is what's gonna have to happen. If revenue drops to this or a profit drops to this, then our expenses have to drop. So this will remove emotional and reactive decisions from your businesses. Does that make sense? If you wait to make these decisions until you're forced to, it's already too late. Bottom line, if your revenue is dropping, you need to reduce your overhead make sense. And that's how we prepare. Don't make rash decisions right now based on these decisions, these big decisions on a plan, on milestones. All right.

Also, we need to get our personal house in order. Right. Your chances of dying from this virus is incredibly small. You're more likely to die from cancer or bad health. Being overweight or a car wreck right now. Right. But why let a crisis like this go to waste? We need to use this opportunity to make sure we have things in order. Right. Do you have life insurance? You all should at least term insurance. Right? Do you have disability insurance? This is something I just signed up for. It's not cheap. I had quotes from two hundred to five hundred dollars a month for disability insurance. And it all depends on how how long they will support you. But this is important. You know that you're more likely to be disabled and lose the ability to work than you are to die. Now everybody dies. Right. But I'm talking about being disabled during during your working years. Maybe that's a better way to phrase during your working years. You're more likely to be disabled than you are to die. And how many of you have disability insurance? Have you thought about that? What if you have a stroke? You know what? If your main business is working with your hands or you know, and then you lose your fingers or you go blind? I don't know. Right. That's pretty depressing. But take a look at disability insurance. I just signed up for.

Do you have a living trust? Do you have a will? What if you have a business partner and you have an operating agreement that covers things like death and sickness? This is something that everybody needs to be thinking about because we all have usernames and passwords for everything. Right. Does your spouse or your kids, maybe your older, mature kids? Do they have a way to get into your bank account? You know, what about your personal finances, your business accounts and important software? You have a place where, you know, like I use LastPass, for example. And right now, I do not have a way for any of my now my wife has our username and password for the bank and stuff like that. And I'm sure she could get it if she goes to the bank. But like, what other things in your business, like software and CRM and databases, Google Drive or Dropbox or Calendar, your email inbox? There's just tons of things if you really sat down and think about it.

Does your family have a way to get access to that stuff if you were to die? What about your parents? You know, you got to be thinking about that, obviously, as well. What are you going to do if you're sick in bed for three weeks and you're the primary breadwinner? You've thought about that. What if you get the flu and you're in bed for three weeks? How are you going to make money? All right. So it's time to get your personal house in order. Now, let me say this one thing here before we get into the opportunities that I'm seeing in real estate right now. Is this important? Is this good for you guys? Are you getting some value out of this? Some of you are telling me the audio is dropping, but all of you are. Sometimes that's happens. That's normal. So you just kind of need to log out. Logged back in, I think. But I am recording this and good. I'm getting a lot of. Thank you. This is good. This is thoughtful. This is great. The audio is good. All right, good. So this is good. This is helpful for you guys. All right. Appreciate it. Now, let me tell you something. If you're personally on the ropes right now, maybe you have a full-time job and you just got laid off. Maybe you're in the restaurant industry. Maybe. I mean, there's people at our church that can't go into work right now. And I don't know if our churches paying them or not. But what if you work for a business where there is no work that you can do from home? What? I was just talking to somebody. Oh, yeah. They work as a custodian. As a custodian in a school. And they were just laid off. Listen, the government's not going to take care of you. If you think the government is, you're going to be severely disappointed.

They could never do a good job with anything, especially taking care of people now. They may be able to give you some money. I mean, there's talk right now that the government's gonna give everybody a check, but it's going to work out to be like a thousand dollars per person. Now, for most people, a thousand dollars might be good to cover your expenses for a few weeks, maybe food for a month. I don't know. Right. But what if you are personally on the ropes right now? Number one, don't expect the government to bail you out. And it's time to be creative as H.E. double hockey sticks. All right. I don't like to cuss. I'll try not to. But it's time to get creative. You need to do whatever you need to do to make money. And whatever you do, do not quit. Do not give in fight every single day. This challenge will come to an end at some point.

So what are some things that you I mean, like, listen, guys, I'm a talker. I like doing deals. Right. But you may need some money to pay the bills. You may need some money right now to pay the rent. Keep utilities on. Keep your phone on. Right. You need to work. You need to figure it out. Stop sitting back on the sidelines hoping that somebody is gonna bail you out. Learn some secret magic pill where you can make some quick money doing a deal. Like you need to get to work, especially if you have a family to support. Right. It's time to get creative as H.E. double hockey sticks. You need to work your tail off. You know, people want to stay at home. So start delivering food for Uber eats. If you have a skill, you know, if you're good at handyman stuff, offer it for half the price of your competitors. If you like, I pay an ungodly amount every single month for landscaping right now. Right. And I just got a letter a month or two ago from my main landscaping guy. I have three acres. If I were to cut the lawn myself, it would take me all day. Saturday and Sunday would take me all weekend. Right. So I hire a company to do my landscaping. We have a big yard right now. My goodness. If there is somebody right now that would call me and say, hey, listen, I'll do your lawn for half the price. If you're like really hungry, you think I'm going to say no to you? Well, at least I'll call my main landscaper guy and I say, hey, listen, can you cut me a deal here?

And if things continue to get worse, you can bet I'm going to contact all of my service providers and say, listen, things are tight right now. Can we talk about negotiate prices on some of these things that you do for me? Right. So if you have a skill, if you have a lawn mower, then go around and offer your services for half the price of your competitors. You all have you know, people reach out to one hundred people every day and offer to help them in any way. You can get on fiverr get on up work and post yourself as a job. Right. This isn't the most glamorous thing in the world to do. But what if you went out and got your realtor's license and started finding tenants for investors, you're only going to make five hundred to a thousand dollars per deal. But like you know what? It's not that hard to find tenants. And it's like the realtors.

Typically, when a realtor gets her license, like the first thing that beginners do as you're climbing your first rung of your ladder, you know, the realtor success, is it be a buyer's agent? It's like the least sexy thing, you know, in real estate to do. Right. But, man, what I'm telling you is we start transitioning in this real estate market, that least sexy thing of being the buyer's agent and going out and finding buyers or finding tenants for lists, properties. That's where the money is going to be made. Every realtor tries to get the listing agreements, you know, to try to find the people that want to sell their house because they think it's less work. But as we start going in to a buyer's market, we're transitioning out of a seller's market into a buyer's market. It's gonna be more important to know how to find the buyers and find the tenant. So you need some money. Get your realtor's license and go find tenants for investors. If property managers are charging a full month's rent to find tenants. You offer half a month's rent, right. And you can start making it back.

Probably 2010-2011. I came out with a course with my good friend Todd Toback called Quick Turn Leasing. And it was all about I'm not my intent is not to teach you how to do this here on this webinar, but the whole idea of this was, you know, how to make a couple three thousand dollars a month. It's super easy. And we used what's called an option to lease. And so you'd find a landlord who had a property they were advertising for rent. You'd say, hey, and you would you would give them an option to lease. I don't go in all the details here, but, um, and then you would find a tenant and you would sell that option to the tenant. And we had one of our students. He was actually homeless living out of his car and he found the money to buy our course. I think we sold over ninety-seven bucks. So it's called Quick Turn leasing, maybe as to ninety. I think it was. He goes out there and starts finding tenants without even a realtor's license using the option to lease thing. Right. And within a couple of months he's able to get his own apartment and get some furniture for his apartment and actually get a new car, not a new car, but like gift payments on a used car. Right. And what he would do, he would go the library and use a computer on the library. He would use the public phone payphone there at the library to call sellers and landlords. And he just found creative ways to and he was able to start making two to three thousand dollars a month just by finding tenants for investors. Right.

So get creative. Right. Find a group of people who do have money, who do have large businesses and find out how you can help them and serve them, offer whatever services you can to them. There are things that we talked about. The wealth doesn't just disappear, it transfers. So find the companies and the businesses and the people that that money has transfer to find out what their problem is and offer to help them solve their problem. Find out what they need. Find a way to give it to them. You know, another thing you could do is call out their major competitors and help them find a way to crush their competition. So when you go to war with a team like that and you find a way to win with these other companies, the opportunities are gonna be absolutely endless after that. So start thinking just thinking bigger. Get creative as H.E. double hockey sticks and whatever you do, don't quit. Don't give up fight every single day. This challenge will come to an end at some point. That makes sense. All right.

Now let's talk about real estate. And then this all kind of was we were talking about real estate here. But I want to talk about specific opportunities now that we're done, kind of talking about the big picture. Now, if you're new to this business, you are in the right place at the right time. I just want to tell you that, guys, this is the best time to be in the business. I wish I had more time to talk about this. But again, when the market crashed in 2007, 2008, it was a year later that I quit my job in 2009. People thought I was crazy, but I saw the writing on the wall and it was already. And there was. Everybody saw it. But like I knew, listen, if I lost my job, I'm replaceable. All right? My destiny is in my employer's hands. Right. Like they could fire me tomorrow. And I was living paycheck to paycheck. I had no control over my destiny. What I mean, like, if I was lucky, I got a 3 percent raise. And no matter how hard I worked, I got paid the same. Didn't matter how hard I worked, how much profit I bought, brought into the business. I got paid the same. And I was an engineer working for an electoral contractor. We're building big, huge power plants. Right. But I knew I could find another job. But I would have had to be willing to travel and move to wherever the work was. And I have a family with kids. I'm not going to do that. Right.

So I started doing lease options, started wholesaling, started flipping lease options. And those were the glory days. There was no competition for deals. I can get all the leads I wanted for free. And it's just like stealing candy from a baby, whatever that means. The low hanging fruit was just really, really abundant at that time. And I'm predicting that again as we go forward. So if you're new and you've never done a deal before, I would be encouraged. You are in the right place at the right time. This is the best time to be in this business. And there's going to be a lot of opportunity coming. And people that I have seen this, I've been talking about this for a long, long time. Anybody that got started in real estate pretty much from 2012, 2013 on, it's almost impossible to lose money. Right. It's almost impossible to make a mistake because the market has been on a tear. The last seven or eight years. Eight years. Right. So these guys that come into the market and I'm not I don't want to disparage anybody, but like, you know, they they come in, they start wholesaling in 2015 and they're doing a million dollars a year. And they're like, man, this is the easiest thing ever.

They've never seen the market correct. All right. They don't know what it's like, what's going on. And I can bet you a glass of iced tea right now. They're starting to freak out a little bit. And for various reasons, the cash is starting to get tight. Buyers are starting to pull out of the market. Title companies are starting to delay closing. Buyers or retail buyers are getting nervous, anxious. They're pulling out of deals. Sellers are getting nervous and anxious. And these properties that they're rehabbing that they were hoping they could sell in three, four or five, six months are probably going to take eight, 10, 12 months to sell. The prices that they thought they could sell the property at this price, they're going to realize, you know, shoot, man, I'm I won't have to drop it down to this. And that can cripple a business. There are tons and tons of wholesalers and rehabbers right now that are on the verge of going out of business. So what do we do? If you're new to this business, you can either be, remember. We're talking about being optimistic or pessimistic that could scare you or you could say, ah, I see some opportunity here. Right. So wealth doesn't disappear. It transfers. We talked about this. Right? The world will soon be on sale. Prices will soon be at an all time low again. And so you need to be thinking about this. Where's the cheese moving to? And recognize, too, as well that what worked yesterday may not work as well tomorrow. So where is the cheese moving to?

It's important now to be educated in these two main things, creative financing and fast cash strategies. I might be talking more about this here as we go down, but you need to start really, really thinking about creative financing and fast cash strategies. It's more important to know how to make a quick nickel than a slow dime right now. And how do you get educated on these things? Well, there's already a ton of it out there. But just, you know, there's podcasts, there's books, there's YouTubes. But you've got to take action with what you learn. And you got to remember, too, if you're learning how to wholesale from somebody that's only been doing it for two or three years. There's a lot that you can learn from them. Right. But I don't know. Take what they say with a grain of salt, because they've never seen a downturn in the market like we have now. I would encourage you to look for advice from people that have been in the business. A longtime have seen the ups and downs.

Also, remember, this spring is coming. I've already talked about this. Right. You need to know where the cheese is moving to. That's why it's important to be listening to podcasts like mine and others like it, by the way. If you're not subscribed to my podcast, you should subscribe. What are you doing? Do you hate money? I don't know. Like if you go to real estate investing mastery. That is my podcast, Real Estate Investing Mastery. I did a podcast just I did three this week talking about a lot of these things. Is there a place for selling rural vacant land? Talk about that, how smart investors should be reacting in this environment. Forget about the hustle, but still get out of bed already, and I talk about rent to own. So there's a lot of good stuff in here in this podcast you can listen to on i-Tunes Google Play, Spotify, Stitcher, I Heart Radio, tune in and all of that. So whatever podcast player you listen to with you have an iPhone or an Android or whatever, get on. Subscribe my podcast because I'm going to be coming out with a lot more stuff. I already have this content plan lined out for the next three to four weeks of things that I'm going to be talking about. And I asked a lot of you guys to fill out a survey and you did. And I've got to over two hundred and fifty something responses of things like what are you concerned about?

What are some of your biggest questions? What are some of the opportunities that you're seeing right now? What do you need to help with the most right now? And I'm gonna be taking those questions and creating podcasts about and most of my podcasts are short, but I answer some of these questions that are going to be seeing a lot more time over the next couple of months answering your biggest questions and helping people with figuring out what they need to do to succeed. Makes sense.? So just go to Apple podcasts, subscribe to the Real Estate Investing Mastery Show. Look for Joe McCall. You'll see me or go to RealEstateInvestingMastery.com to put this link in my in the mind map right here. I'll find a way to get you this mind map too. You know what? Let's do this. Write this down if you want this mind map, because I'm gonna be releasing this as a podcast as well. Go to Joe McCall.com/spring2020 How about that? OK, let me put this in the mind map here. If you want this mind map, go to Joe McCall.com/spring2020. Now, that will not be up and available for at least another couple hours, but I'll put it up there, OK? Joe McCall.com/spring2020 and I'll have this mind map there get educated on these two main things. I talked about this creative financing, fast cash strategies and we'll talk more about that. Here's we go now.

Some things I want to talk about in general in regards to real estate. If you're in the real estate business, what I think most of you are right. You should ideally be able to survive with three months of no income if you don't have this right now. That's fine. Don't beat yourself up, but start thinking about this. I think you still have time to prepare for this. OK. If you look at the Great Depression in 1929, it lasted for three or four years. It took almost a year before the bank started collapsing after the stock market crashed. The recession of 2008, that didn't just happen overnight. For some people, it did. If you're in the stock market, but you had time to prepare. And so you have time today to prepare. March 20th, as I'm recording this right now, you have time to prepare. So start thinking about surviving with three months. If you had no income, could you survive for three months? Your cash flow will be interrupted. If you don't have enough cash to make it through the next three months, consider liquidating some assets as quickly as possible. To give you the peace of mind, you need to make it through this uncertain period.

And don't wait until it's too late and you're forced into a fire sale in an uncertain market. Right? And if you haven't already, by the way, some of these I forgot to mention this earlier. A lot of these ideas are things I've been thinking about work, but are also things that I've been getting from other people and Facebook groups and things that I've been on a discussion board. So I wish I could say all of these ideas are original and they're mine. But I if I were to reference everybody that I saw this from or heard this from or read this from, it would be pretty obnoxious. But so I just have to tell you that a lot of these ideas I got from listening and talking to other people like for example, this one here came from a friend of mine, Christina Krauss. She's in our leadership boardroom mastermind. But she was saying here, this is important. If you don't already start mailing contracts and written offers to anyone you speak with on the phone, even if they reject your offer. This will not only plant your flag, but will give you a reason to follow up later. So you can say things like, hey, I'm just following up with that offer I sent you. And I've said this for years and years. But this is especially important now. Start sending offers, written offers to everyone that you talk to. Because this will allow you to do more follow up in the future. And then it gives you an excuse to get your foot in the door. Hey, I'm just following up on that offer I sent you. Did you get it OK?

In a time when people are concerned about liquidity, master minds are an obvious expense to eliminate. If this is something you're considering, I urge you to rethink. I really, really believe the importance of masterminds and community collaboration. They're going to be the secret to having us massively successful business as we move into the future. So don't quit your masterminds if you're in one. OK. Please don't do that because you're going to learn more about where the opportunity is, where the cheese's move to when you're connected with other successful investors. So don't quit your masterminds. All right. Global insights and support from like minded business owners will be critical to not only survive, but thrive through the unchartered waters that we are all about to enter.

9. The other thing is here. Do not slow down. There is going to be more motivated sellers now than we've had in a long, long time. You can get more deals and there's going to be less competition for these deals because everyone is getting scared. The other thing kind of related to what I've been talking about. You need to be focusing on the quick nickel instead of the slow dime. This is important. Under strategies like wholesaling for flipping lease options, don't be looking at into long term deals. Some people disagree with me on that, but my opinion is you need to know how to be in and out of deals extremely fast. Don't commit yourself to long term deals because nobody knows what the market is going to do over the next couple years. And I'm predicting most people are that we're due for a downturn. It may not be as big. It probably won't be as big as what we saw in 2008 9. But the economy is in serious trouble right now. Do not use your own cash right now. Focus on affordable housing. People are always going to need a roof over their head. The population of the US is growing and follow the demand. It's easy to find the demand. I'll show you kind of what I'm talking about here in a minute, but follow the demand. It's easy to see. And there's a real good article here about my friend J Scott that he wrote called The Impact of Corona Virus on Real Estate Markets.

And if you just go to bigger pockets or Google this and you'll see this article, I'm not going to go through this right now. But J Scott spent a lot of time researching this. He wrote it a couple of days ago and released it a couple of days ago. And it's a really good article. The impact of Corona virus on real estate markets. Just Google that with bigger pockets and you will find it. He does a lot of research. The summary of the economic conditions. Will economic volatility caused by corona virus impact real estate. The answer is yes. What about a recession that's coming? Then there's an article related here that he links to five different ways that the next recession can make you rich.

Talks about Airbnb properties will be hit hard. What if coronavirus directly infects your investments? Are there any positives in the current situation? Yes. And summary of all this. So is a really good article I encourage you to read. And there's a lot of good stuff in bigger pockets. It's a great resource to go to. I'd encourage you to plug into that. Just be careful too. Anytime that you're on a big forum of Facebook groups or bigger pockets, you ask 20 questions, you're gonna get 500 different answers and you just got to make sure you know who you're listening to. All right. It's more important ever to work from home, do deals virtually. How certain are you that you can keep your job or that you're going to have a job to come back to if you've been furloughed? Why not do deals from home? And I've been doing this for years and years. A lot of you guys have as well. You don't need to go see houses. You can talk to sellers and buyers over the phone.

I was talking to a friend the other day who pays, who finds people from Uber to take pictures of his properties and is like, what are you talking about? He says, well, I just do an Uber and I do a pickup for wherever the house is. Right. That's what address he gives them. And then after they he's been connected to to a driver, he calls the driver and says, hey, listen, I'm not going to be actually be at the house, but I'll still pay you for the trip, you know, and if you can take some pictures for me, I'll give you an extra twenty five bucks or something like that. And so he actually pays Uber drivers. And once he finds a good Uber driver, he uses that Uber driver for future deals when he needs something delivered to a seller to sign or he needs pictures taken or an inspection done of a property or pictures taken of a neighborhood or whatever. So you need to get creative and find ways that you can do deals virtually. And there's a lot of opportunity out there for that.

Let's talk about marketing here. Double up, double up on your marketing, double up on cold calling and texting. People will be at home and you should have a higher percentage of people answering the phones. We're already seeing this vacant list, vacant houses right now is a great list to call of. A lot of reasons, but vacant houses are easier to sell. It's getting harder and harder. I've been seeing this in our own business and talking to other people. It's getting harder to get sellers to let you in, to inspect the house, to look at it.

If the house has tenants, it's sometimes harder to schedule the time to go in and see the house with tenants. But everybody is freaking out right now. But with a vacant house. Guess what? There's nobody in there. And one of the things I love about Zillow and Facebook Marketplace and Craigslist is almost all of those houses that you see on there. Listed it for rent or for sale by owner are vacant. So vacant houses, it's a great list to call. Follow up is super important right now, especially now. You need to call all of your old leads today. We're seeing an incredible response with a follow up right now and old letters where we're sending out we've sending out direct mail for a while. We're getting leads right now on direct mail that we sent over a year ago. They're starting to. They keep those postcards and keep those letters. Those offers that you're sending to sellers, they keep them. So follow up. You might even consider sending texts or SMS broadcast or Sligh broadcasts to all your current leads regarding the virus and let them know that we're here to help. It's not something I've done and I think it sounds like a good idea. Like letting everybody know all your old leads. Hey, listen, I understand things are getting tough right now. I just wanted to let you know that we are here to help you. If there's anything that we can do with your house or you know or your houses, let us know. Your efforts will be shown now, but even more so in the next 90 days.

So as you start ramping up your marketing. Just know that it takes a little bit of time to build that momentum. But you're going to get to that momentum pretty quickly. Direct mail will come back. I'm predicting it'll be getting better and easier, but you need to kind of wait till people get back to work. Like if you were to go order 5000 postcards right now, there may not be people in the printing shop there to print them and things may be slowing down in the mail. The U.S. Postal Service. I don't know. It seems like I'm still getting mail every day. I'm still getting U.P.S. and Amazon stuff. But. Direct mail will come back for the simple reason that there's going to be fewer people doing it as we go out forward. All right. That's marketing. Don't stop. Do more of it.

Wholesaling. Start focusing on finding. There's a few things that are important with wholesaling. If you're just a cash wholesaler, this is really, really important. Understand? I want to encourage you to start focusing on finding your buyers again. A lot of us over the best of what, five, six, seven, eight years have gotten fat and lazy because it's easy to sell our properties. You just find the deal and the buyers will come. But as we start transitioning into more of a buyer's market, in other words, it's gonna be easier to find seller leads, harder to find buyer leads. You need to focus again on finding buyers. You need to focus on finding buyers first. It's easier to sell buyers what they want than to sell them what you have. This is important in any market, but especially now. So I'd encourage you to call all of your current buyers or email them. I'd prefer you call them. Find out who's still buying now, finding out what they are buying. This is really, really critical. Important. Now, I've been talking to friends and even in our own business. Calling our buyers and the big main buyers, they're still hungry for deals. They still want more deals. But across the board, we are seeing more and more buyers pulling their money out of deals. They're becoming, even the buyers that say they are still buying, they're becoming more conservative with their prices. So you need to understand what prices they are comfortable with today. You know, it's just I've talked about this a lot. Y.

Or know, imagine that you've made a bowl of spaghetti and you go out in the street and you try to start selling your spaghetti and you're gonna have a hard time finding somebody who wants to buy. But what if instead you went out and you started taking orders from people on the street and you started saying, hey, listen, are you hungry? You want some food? I'll go buy it for you? Right. It's gonna be a lot easier to sell people what they want rather than sell them what you have. That makes sense. It's really important. And I think it's gonna be even more important now as we go forward in these changing markets. Now, how do you do that? There's a couple of three ways that I'm gonna be spending more time in the future over the next couple of weeks talking about this, because it's really important. And I'm going to be releasing this content as podcasts.

So, again, subscribe to my podcast, Real Estate Investing Mastery, whether you have an Apple or a Google or whatever, Android phone, Samsung. So one of the best ways to find buyers is call realtors of recent investor transactions. Call the buyer's agents and the seller's agents. And you may have to get MLS access to that. I don't know. But figure it out. You'll be able to do it if you just ask around enough. Right? I also encourage you to call landlords, called property managers, go to Zillow. Like I'm going right now to Zillow.com and somebody give me a city right now in the chat box. OK. And I will look up. I'll tell you kind of what I'm talking about here. Boise, Idaho. I love Boise. Boise, Idaho. All right. So here I am in Boise.

I'm going to remove the boundary. I know if you're just listening to this on the audio. Bear with me here. You'll understand what I'm doing. I'm going to. For rent. All right. And I click two plus bedrooms. I might click houses only. And let's say I'm looking for there's 453 homes right now in the Boise area. Let's say I'm looking at cheaper, lower end homes. So I might say, Max, a thousand a month. Is there anything like that in Boise? Yeah, there's 15 properties under a thousand a month. So right now, if I just open up any one of these, I can see who the owner is and sometimes the phone numbers not here. But look, if you click, ask a question right here. Well, no, it doesn't. Sometimes it will give you the phone number. It's a bad example. Let's go to this one right here. Jess, ask a question. There's your phone number right there. Jess Govan, right. Call these property managers up. These landlords and say, hey, I got a deal in this area. Would you or your client be interested? Here's a two bedroom, one bath, nine hundred square foot. Ben Mahaffey. And there's this phone number. This is a recent change at Zillow is made. Used to be their phone number was right here. But all of those people that teach how to find phone numbers and contact people from Zillow, Zillow has gotten wind of that. And I think they're trying to hide their phone numbers now.

But anyway, if you click in here, ask a question, you can find phone numbers here. Call them up. Call Ben up and say, hey, Ben, how's it going? I see that you have a rental property here on South Montana Avenue in CALDWELL, Idaho. And I'm an investor and I've got another property in the area that's similar to yours. I'm just wondering, are you looking for more deals right now? Right there. If theyr'e a full time active investor, most investors are looking for more deals right now, especially until you guys there's a lot of money sitting on the side waiting to come back into the market. You hear what I'm saying? There's a lot of money sitting on the side right now waiting to come back into the market. And a lot of these property managers and landlords have connections and they know where that smart money is at. And when it's coming back and they're gonna be looking for deals, and if you want to succeed as the market's going forward, then you need to position yourselves with good buyers. It's not going to be the same rule anymore where if you just find a good deal, you'll find buyers now. That is sometimes true if you've got a really, really good deal. But I'm just telling you, it's easier to find out what your buyers are wanting and then give it to them. Related to this, too, I want to say… And I'm going to talk about this here in a minute. Don't be greedy.

I'll talk about that. You're all right. So call property landlords, managers and talk to and also look up recent investor transactions. You can. And then there's ways I'm going to show you some content here in the future podcasts of how to do this. Real simple, in REISimple, which is my CRM. There's prop stream like Propstreamjoe.com where you can get recent buyer activity and you can skip trace them, find the emails, find their phone numbers and call them, e-mail them, send them letters. And what are we going to future episodes about? Exactly. I'm going to give you a script and what to say and the letters descend and all that. This is real import. And there's ways like, by the way, did you did you know you can't skip trace LLCs, right. Because if it's an LLC or a trust, you can't skip trace them. But have you ever gone to fiverr and just did a search for skip trace l cs. Look at this. There's seventy three services that come up here where they advertise here.

Skip Trace, LLCs or companies for owners. And there's guys that I don't know how they do it, but they do it and we're having some pretty good success with this. And I have a lot of friends that are as well. OK, so start skip tracing individual owners and LLC and just hire somebody on fiverr to do it for you. Start focusing on the buyers. Also, increase your inspection periods and closing dates. This is really important because sellers are more reluctant. They're more reluctant to let people into their house. Tenants are a lot less reluctant. It's harder to coordinate that stuff because the virus scare right now. So you need to make sure that in your closing in your contracts, you're giving exceptions in there or contingencies based on these things. And the closing dates are going out because a lot of title companies, the people are working from home. Right. The recorder of deeds in the county is not working at full capacity right now. So everything is being pushed out. So it's just fine. I mean, things will come back to normal with that. But you need to make sure in your any new contracts going forward that you have clauses in there that say, you know, we will close 30 days after we can do the title work. You know, it's things like that. So put your try to come up with some simple language like that to make your closing contingent not on you, but on the county recorder's the title companies and things like that make sense. Make sure that it's more clear in your language that your your closing is contingent on a satisfactory inspection where you can actually get in the house and look at it. Offers sellers to leave you a key so you can do inspections and not come in contact with them. Right. Just talking to them.

And by the way, the deals that you currently have in the pipeline, make sure that you're communicating with sellers and you're talking to them, get sellers and tenants working for you, taking pictures, doing walkthrough videos. I've done that for years and years. I didn't realize it was a big deal, but some people never thought about asking the sellers to send you pictures. I have a friend who is a realtor. He got tired of traveling to sellers homes. And so just for traditional listings. Right. OK. And he started telling them. OK, listen, you want to sell your house? Good. When can you come to my office? And the seller would say, well, what do you mean? Don't you want to come and see it? Well, I mean, like you can I can get someone to go take pictures of it. Is there something wrong with the house that you need to actually go see it? No, no, no, no. It's OK. Finding out, where's your office located? Are you available Wednesday at 3 o'clock? Yeah. Great. He started getting sellers to come to his office for listing appointments.

 

Put that in your pipe and smoke it. You can record live and zoom on these videos if you want to. Gavin and his team are doing that recording some of these walkthroughs and zoom with the seller on their phone. So nothing gets missed. I expect the closing processes to take longer. Like I've said. That's ok. You can't control that title company is going to take longer to close courthouses and stuff.

1. Don't be greedy. I think I'm predicting here. Gone are the days of the big fat fifteen twenty five thousand dollar assignment fees. OK. That's just kind of what's going to happen here because you're going to have to get in deeper. You're gonna have to make lower offers. Your buyers are gonna be buying these deals at lower values. And there's gonna be a transition period here where this is common. I remember seeing this in '08, '09, where the sellers think that the market is not impacted as hard as it really is. And it takes sometimes six to twelve months for sellers to realize, oh, I can't sell the house for what I thought I could, or it's not gonna be as easy to sell this house as I thought it was gonna be. So your margins are going to shrink. That's OK. That's all right. I mean, still making five grand on a deal is not that bad. It's just not going to be as good as it was. That's my prediction. So, again, it goes back to what I'm saying before all these new wholesalers that came in and thought that they were God, because everything they touch turns to gold and they make money on everything are gonna be in for a surprise. OK. It used to be back in the earlier day that, you know, the average wholesale fee was five to ten grand. In some markets as the prices have skyrocketed up, it's now where it's common to make 15, 20 grand on a wholesale deal. So those times are going to. It's going to change. Not a big deal. Just got to be prepared for it. Don't be greedy. All right. It's better to make three to five thousand dollars on a deal than nothing. All right.

Let's talk about lease options. Everything that we see going on right now is exactly why I love lease options so much. It's control without ownership. What does that mean? Well, when the market goes south, I'm not going down with it. I don't own anything. I only control paper. Understand. So I think, as Rockefeller said, the secret to wealth is to own nothing and control everything. The same guy who built the Rockefeller Center, Nelson Rockefeller, who created all those jobs for those people during that time of the Great Depression. That's what he said. The secret to wealth is to own nothing and control everything. If you own a bunch of real estate. Right. I mean if you're overleveraged, you're in trouble. That's the same thing had happened to me in '08 and '09. Lost a lot of properties to foreclosure and short sales and stuff like that. Why? Because I owned a bunch of stuff. And when I heard this concept of lease options that you can actually make the same amount of money without owning property, you're only controlling it. I thought, what? Why isn't everybody doing this right? So now is the time for lease options and owner financing. Okay.

Owner financing. We take that back. Sometimes you do want to own the property if you can get a really good deal like long term interest, like 0 percent interest long term. Then maybe owner financing would be good because there is a place and a time for for ownership and control. But the thing I love about lease options when you can control a property if the market values tank. I can walk away. It's just an option. I don't own the house. Imagine buying a house. You know, you put down your 20 percent. Market goes south. You can't go back to the bank and say, hey, you know what? I decided I don't want this house anymore. You know, can you take it back? They're gonna say no. All the bank cares about is getting paid. So when you have a lease option, you have it's just an option to buy the property.

Now, I'm not saying that you can walk away from your deals. Right. But when the option period expires, you can walk away from the deal. You don't have to buy it. You just have the option to buy. The other cool thing, too, is the way I do my lease options. I have a clause in my contract with the owner on the sandwich lease option deals, not the wholesaling lease options, but the sandwich lease option deals that with a 60 day advance notice. I can get out of any deal now. Would only do that if there was a tenant in place. I'm not going to leave the owner high and dry, but lease options give you more flexibility. If the market really does crash, you can get out of the deal. By the way, with a lease option you don't have to worry about title companies. You don't have to worry about delayed closings, you don't have to worry about recording offices being delayed and everything like that. You don't to worry about that again. I quit my job in 0 9 doing just lease options. And when it comes to lease options too, it's so much easier to negotiate deals when you can offer the sellers whatever price they want. It's just a matter of waiting for it, isn't it?

Now imagine if you're competing with 500 other wholesalers for one small deal and it's just a bunch of people. It's like blood in in the way in the water. What if I go to the seller and say, listen, I can get you that price you need? Maybe I don't know if it's going to work for me or you, but, you know, I might be able get you that price if you're willing to lease it to me for a year or two first. That probably wouldn't work for you, would it? All right. So you can give sellers whatever price they need, as long as they'll give you the time, its price or terms. You can give the seller the price they wanted. They give you the terms that you want. You can give them the terms they want if they give you the price that you want. The other cool thing about lease options is, guys, you want to pretend that you have the money to close anymore, right? You don't rely on these cash buyers that are getting flakier and flakier and hope that they can actually close. You don't have to be that guy.

In my lease option contract that I give to the seller at the very beginning. I call it a flexible lease options, a flexible option if they sell it before I do. They can cancel my contract. It's not a big deal that way, though. I'm not tying up the property. I'm not tying up the property. If I can't find a buyer or a tenant buyer. That's fine. I'm not on the hook to make any payments. I'm not taking over the mortgage. I'm not taking over the deal. I'm not buying the house with bank financing or private financing. If I can't find a buyer, that I can cancel the contract. But I'm also not tying up the property, you understand? So I can't be accused of taking advantage of a seller in a bad situation and tying up the property and not letting them sell it or lease it on their own. My option is a flexible option that they sell it or lease it before I do. That's fine. They can walk and they don't owe me anything. Cool. All right.

So even as we are tightening up here in the market, you can still sell your deals lightning fast, even without a buyers list. There is still a huge demand for lease option homes. You can sell your… I'm telling you guys, I have dozens and dozens and dozens of testimonials from students that say, like, I can't believe how easy it is to sell my lease option deals. This is way easier than wholesaling. Okay. All right. Now let's talk about vacant rural land. Oh, by the way, if you want more information about lease options and how to do them, I I'ma talk about this in a minute. Let me just jump right here right now. I'm gonna be doing a lot more podcasts about this, but I have a webinar that you can watch right now. If you go to SLOclass.com. S L O stands for simple lease options. SLOclass.com. Or if you want you can get my class right now if you go to JoeMcCall.com/now. JoeMcCall.com/now. Where I teach you how to do lease options from beginning to end. And I also have in that course what's called a business completion challenge. I'll give you all of the money back if you set up your business within six months. You don't even have to do a deal. Just set up your business like I teach in the class and start making offers and is within six months. Give me a testimonial what you done and I'll give you your money back. And I have various reasons for doing that. I'll explain that in a minute here. But if you want to just sign up right now, go to JoeMcCall.com/now. JoeMcCall.com/now. I offer payment plans on my course, but I think it's more important now than ever. To learn how to do lease options. OK, so I'll talk more about that here in a minute. I'm almost done.

I want to talk about rural vacant land real, real quick here, because this is something I'm seeing a lot of potential for in the future. And because because there's going to be a trend going away from high density living, I think there's gonna be a trend going away from urban high density urban areas like condos, apartment buildings. People are looking for space. Right. And there's a lot of preppers out there. I mean, you see it. There's long lines at the gun stores. I hear about in the news. Right. These companies that sell or emergency supply, food and stuff like that, they have months long waiting lists now. I mean, the orders and demand is just spiked. It's huge. There's a lot of people out there right now getting concerned about this virus, about it happening again. Or let's say they're they're afraid it's going to go on. It's going to get worse and worse and worse. So what if you could sell land, vacant rural land, two or three hours out of town where people that are concerned about prepping? They're concerned about survival things. They have a place where they can go and maybe even for you yourself. Here's a crazy thing, guys. You can buy land for super, super cheap. I'm not talking about go into the MLS or going to Zillow or LandWatch.com or Lands of America that come and buying properties at full market value. I'm talking about going out, buying a list of all the people that own 10 to 40 acres or whatever in your area and sending them letters saying, hey, would you like to sell your land? You know how much competition is going out there right now trying to buy vacant rural land? Zero. And you may think, well, I mean, there's a lot of objections and questions I know you have about this, but I'm telling you guys, there is more there are more rural vacant lots out there than there are houses. You look at a map of the United States and how much vacant empty land there is compared to cities where there's houses and stuff like that. There is a ton.

And if you're worried about competition, it's ridiculous. Like some counties that I know that we're working in. They have 20000 vacant lots in some of these counties that we're working in. Right. And I'm maybe one of four or five investors sending direct mail there. And you're worried about job competition? No. So, you know, let me show you what I'm talking about here. I'm going to go to the LandsofAmerica.com is one Web site that you can check it out. And let me also do another one here. Let's look at land watch, dot com, land watch dot com. And somebody give me a state right now in the chat box. All right, California. Robert, let's go here to California. The left coast. I wonder why so many people are leaving California right now, maybe because of taxes and the socialist communist government there. I don't know. Maybe. All right. So enough politics. Joe, stop it. Let's look for cheap land under 40 grand and let's look for 0 to 10 acres. There's a way here that you can see. OK. Just land. Boom. There you go. And I'm going to do sort by price. Low to high. Low to high. You know what let's do for acreage. Let's do minimum two acres. All right. There are seventeen hundred, eighteen hundred listings right now of two to ten acres. No, let me fix that. Let's do, because obviously you can buy a super expensive property. Let's do two to 40 acres. And I don't I don't want the super expensive properties in here. OK. Still seventeen hundred and sixty six. A lot of these properties here now. This is desert, high desert. I don't know if you want to live in this area. Right. But there are some areas around California where you can buy really nice, decent land for super cheap. Now, let's do. I'm goin to do something here. I'm going to say minimum eight thousand to thirteen thousand dollars. All right. So here's some good land, 10 acres in San Bernardino County. Eight thousand dollars. 20 acres in Lassen County. For eighty four hundred dollars. Seller financing available. Right. There's a lot of land out here. Some of this is desert. I probably should should have picked a better state. A lot of this is desert land. But there's a lot of land where you can have. You're right in the mountains.

OK, now let me show you something else here. It's really cool. Here's Modoc County. There's the sorts of trees there. It looks really nice. Now you can go and we're doing this right now. Let me just tell you what we're doing. We're sending out direct mail to vacant land owners in Oregon, Colorado and California. We are getting a 10 percent response rate on our direct mail right now. This is something I was talking about before my boys are helping me do. We're getting a 10 percent response rate on our direct mail. So we got out. We sent out recently about fifteen hundred letters. We got about one hundred and fifty leads. And of those hundred and fifty leads, guess how many contracts we got offering 20 cents on the dollar? 20 cents on the dollar. Get somebody contracts we got. Let me get my calculator. We got six or seven, six contracts. Let's just be conservative here. Let's say we have six. So six divided by one hundred and fifty. We had one out of every twenty five leads turns into contracts. And guess what? We never talked to the sellers until after they signed our contract.

We never even talked to them until after they accepted our offer. How many more offers could we have accepted if we talked to them.So we got a 10 percent response rate and of the leads that we got, we got one deal out of every 25. We never even talked to them until they accepted our offer and we're offering these 20 cents on the dollar. So what we're doing I'm talking about here is right here. Let's look at this deal, for example. This is aAltris Modoc County, California. They're selling his 5 acre a lot for $10000. Guess how much we would offer for that five acre lot? Two thousand dollars. He would offer two thousand dollars of that land. All right. So what does this have to do with you? Number one, you may be concerned about, you know, where am I going to go? You know, the you know what really does hit the fan? Do I have a place to go? Well, maybe you can actually go out and start marketing right now. What if you're you know, if you're looking in northern California in the Shasta Cascade area here? Right. Did you know you can buy some property out here for really cheap in the mountains, in the trees that you can go out and just get it? Maybe it's just for vacation. Maybe just bring your four wheelers and go camping and do some fun stuff out there. Right. There's a lot of opportunity out there for land. And you can actually sell this land to preppers.

Let's say you find a piece of property that you want. Well, you can also turn around and flip this land and make a quick three, four or five, ten thousand dollars selling that vacant land because we're selling it so, so, so cheap. So I'm telling you this, the gun lines are getting longer. People are getting more concerned about prepping and safety and being prepared. And so it's not just guns and food. It's also land. So there are a lot of people out there in the market that are concerned about safety and having land. And if you can now sell land for cheap to them, maybe with owner financing, there's a lot of opportunity to make some money with this. And let me just show you if you're interested. What I do to get my lists, I have a subscription with data tree data, 3Com. And it's not cheap. There's other tools that you can use. I'm just gonna show you, I'm putting in my password. Don't look. And so let me somebody else here put a Georgia in there. OK.

So let's I'm going to look for Georgia. I'm going to show you, I'm doing this. And land watch right back. I'm I'm going to see what area of Georgia right now is selling a lot of rural vacant land. And there's an easy way to do that by going here. Land watch. Now, I want to see where the demand is. I want to see where's all the activity happening. And one of the ways to do that is through this. I'm going to go on. I looked at Georgia and land watch dot com. I want to go down here and click lands. So these are all the properties that are just vacant land. And I want the normal sized properties. Right. So I want minimum of five acres to 40 acres. I don't want the little quarter acre lots and some small town. All right. So there's seven thousand three hundred and seventy four listings. So now what I'm looking at here is these are all just Georgia vacant, Roland, five acres to 40 acres.

And you can see the mountain area, which is kind of the north eastern, I'm sorry, the north western area of Georgia. There's nineteen hundred properties. And then there's a historic south area where there's seventeen hundred. There's a Blue Ridge Mountains which has fourteen hundred. So let's just pick the mountain area. That's where most of the properties are that are listed here that are five to seven acres and you can see the biggest counties. Cherokee County has a bunch, Carol County, Jackson County Hall, Paulding, Bart. So I'm going to go look at just the top counties here, Cherokee and Carol. All right, Cherokee. I don't know if I can remember how to spell that, Selimi. Copy it. OK. Well, let me copy. I'm going to go here to advance search. Now, I know if you listen to the podcast, you've no idea what I'm doing here. I'm just gonna do my best to kind of walk you through. I'm selecting Georgia and the county is Cherokee. Boom. There are hundred and five thousand owners there that owns something out there. Right. So now I'm going to go here to characteristics. And I want to say living area is zero. That means there is no house on the property. There's fifteen thousand results there. Lot acreage. Let's do between five to 40 acres. Twenty one hundred properties there. All right. Just like that.

Now I have twenty one hundred owners that own vacant land between five to 40 acres in Cherokee County, Georgia. Now,I'm going to do one more thing here. I can do sometimes it works. Sometimes it doesn't. I want to say absentee owners, which means the mailing address is different than that than the property address. There's three hundred ninety two. Sometimes that works in some county, sometimes it doesn't. I don't know why, but I might take that out. And I also want to go here to the last sale date. I want to make sure they've owned the property for at least 10 years. OK. I'm go to go sale information. I'm going to say last sale date is before I want to put in 2010. So before March 20, 2010, get count as it's working here now. So some counties this may not work if they don't record the sale dates. So it's thinking right now, I'm surprised it's taking this long.

But data tree is owned by. There's two main data providers, CoreLogic and first Liberty, I think is what it is. And Data Tree is the is the competitor to CoreLogic. Here we go. Thirteen hundred and eighty eight results. All right. So there's thirteen hundred eighty eight results in Cherokee County, five to forty acres that it was last purchase at least 10 years ago. Now I can take this and export it right now. And within about five, 10 minutes I could create a letter campaign using click to Mill is one of the services I use and I can get the mail out. Now, probably maybe three hundred of those I can filter out because they're going to be property owned by the government or something like that, or there actually is a property, there are some buildings on the property, so I can remove that once I export it out. Let's say I'll have a thousand records right here. OK. I expect conservatively about a 10 percent response rate. So I'm going to get about 100 calls from this. And if I can get one deal out of every twenty five calls, which is what my average has been, I'm gonna get four contracts out of this and I'm offering again 20 cents on the dollar. So you may say, well how do you find what the dollar is? How do you know what these properties are? It's really easy now because you can go to places like Zillow, Lands of America, dot com land watch dot com.

Let me just go to Zillow here. And what was that? Cherokee County, Georgia. Right. So let's look at Cherokee County. I'm going to be looking at for sale right now. I want to remove any price filters. I want to do any bedrooms. And I'm going to say, just show me vacant land. So if you go to home type and you make sure just lots and vacant land lots is available, there's 423 properties for sale right now that are just vacant, real lots. Right. And you could even go then into more and you could say, all right, show me all the ones that are at least five acres under 50 acres. So five to 50 acres. Click done. And there's hundred thirty six results there. You can sort this from price low to high and see what this is, what these properties are worth. So what I do is I if I have a five or six acre lot like here's a five point seventy four acre for eighty thousand five point nine, eight acres for eighty thousand five acres for ninety four thousand. What I usually do is I average those and I multiply that by 80 percent to get the average value of the property. So if I get a calculator to eighty thousand plus eighty plus ninety four divided by three. So the average is about eighty four thousand dollars divided by five. That's an average of almost seventeen hundred dollars per acre. Right. And if I multiply that times point eight, these average about fourteen hundred dollars an acre. So my offer price when I'm making offers on these it's real simple. I'm going to take thirteen fifty five or fourteen hundred dollars an acre.

Times point two I'm going to offer two hundred eighty dollars an acre. All right. That's what my offers are and I'm getting them accepted. Bout one out of every twenty five. So and then you can also from Zillow I'm just talking about showing you how to do this on Zillow. You can even then here go to Solds and you can a lot of times get good sold data. Here's 301 results in this county of sold properties between 5 and 50 acres. There's a ten acre lot that sold for 13 grand. Twenty five acre lot that sold for 13 grand. So you can get a lot of good values just from Zillow. Now, I hope I'm not. I hope I didn't lose too many of you guys. I've got a bunch of. You're still on.

I'm just telling you, there is an opportunity for land and you can buy it super cheap. I actually teach how I use options to buy land in my simple lease options course. If you're interested, because I think there's a couple opportunities. Number one for yourself, if you want some rural vacant land to buy it super cheap. Number two, there's going to be coming a huge demand and there's already there for this rural vacant land because of this scare from people who are concerned about their safety being prepared. And so people want a couple of things they want. They want food. They need a shelter. Right. They need guns because they're worried about that. And it's not funny. It's serious. Like true. Right. And they need some place where they can get away. They need land. And so the trend I see is going away from high density, high density urban areas out into suburban areas, out into the country.

And even if there is an emergency or not, not a danger that they can at least have a place where they can go just have some vacation time with their family and go ride their four wheelers, and go camping and build a cabin in the future or something like that. It's really easy to sell land when you get at this cheap 20 cents on the dollar. OK. It can happen, so. All right. I went through a lot. I know I did. If you want some more help. Guys, again, you can watch. I have a webinar, right. Teach how to do simple lease options at SLOclass.com. Go to SLOclass.com and that will take you to a page that looks like this and you can watch my webinar and get my course right now if you want. If you go to JoeMcCall.com/now JoeMcCall.com/now. The course isn't cheap, but I can I split it up in payments and I don't charge penalty if you do it with payments instead of fifteen hundred bucks or three payments of five hundred dollars. So if you wanna do the payment plan, that's fine. It's an eight week masterclass. I give you lots of checklists and summaries and faster guides. So if you don't wanna wait until all the modules are released, you get everything with the fast start guide. You can start doing deals right away. And this is the main thing I want to talk about here. I have a six month completion challenge. You go through the class, set up your business and you get a hundred percent of your investment back. So the way it works is you have six months to go through the class, setup the systems and start marketing and talking to sellers and making offers.

And if you can show me that you've done that within six months, I will give you 100 percent of your fifteen hundred dollars back. Why would I do that? Number one, I look at it as an investment in my most valuable asset, which is you, my customers. And if you're happy, then you might buy some other stuff that I sell in the future. That's great. I also get a great testimonial from it, which helps me sell more courses. And number three, the biggest reason is I'm hoping some of you will bring me deals and partner with me on deals. I partner with students on deals. Now you have to be a student to partner with me on a deal. You have to get it under contract, you send it to my office. If it's a good deal, we'll get on the phone and we'll partner with you on it and split it 50/50. You might find a lease option deal. You might find a vacant land deal, but we can partner on it. I also have three months of REIsimple for free. I do three group coaching calls a month and I have a private Facebook group. I do onboarding coaching calls with all new members. You reckon there's opportunities for you to for us to review your offers and partner with you on deals. We give a thousand bonus leads from Zillow. We also give 10 free hours of virtual assistant work.

We have a virtual assistant resource center in there with 10 free hours of virtual assistant work. You can hire my VAs and my team. It's a pretty good deal. I got hundreds and hundreds, if not thousands of testimonials on here. I need to update it with more. But I got a bunch of them. It's $1500, or three payments of five hundred because I'm telling you guys, lease options are going to be really important as we're going forward into this. If you're interested, again, go to JoeMcCall.com/now. JoeMcCall.com/now. OK, now what I'm going to do here is again, if you want this mind map, it's not available right now. But after this webinar is done, I'm going to use this link and you can get this mind map. Joe McCall.com/spring2020. JoeMcCall.com/spring2020. By the way, did you know that yesterday was the first day of spring? Not a lot of you knew that, right? Because you've been listening to all the negative news and nobody's talking about the positive, exciting things. We got flowers growing out in our backyard right now. All right.

I'm going to look at your comments here and answer any questions you guys have. Do my best to answer any questions you might have. Somebody is asking what's the difference between sandwich lease options and wholesaling lease options? Is that. The question is, will sandwich lease options where you stay in the middle of a deal and a wholesaling lease options where you just flip it and assign it, you get out of the deal. All right. Do you think that lease options will be the most profitable thing right now? I don't know about right now. It is profitable right now. But the most profitable thing right now, I don't know, but I think it will be over the next six to 12 to 24 months. Yes. I was just talking to John Jackson the other day, one of my friends who taught me lease options at the very beginning. And we were talking about doing deals, you know, back in '08, '09 and 2010, 2011. And he's been doing lease options a lot longer than I have. And he's said the same thing, man. Those were the days. I mean, that's when we did the most deals. Back then, when sellers were nervous and motivated and there was very little competition, it was hard to wholesale. Right, but lease options were easy. So while somebody else is correcting me, today is the first day of spring. All right. Sorry. I must have got that from NPR. Some liberal news stations.

Won't everyone just jump on lease options right now? What will stop them from this transition? Hans, that's just not the case. Ever since I've been in the business doing deals since 2005, you would think, yeah, like lease options. And the thing I showed you with vacant land you like, man, that's amazing. Like, why isn't everybody doing land? Why isn't everybody today lease options? Why isn't everybody doing wholesaling right now? It's just not gonna happen. It's not that way. And here's the cool thing too, Hans. You can do these deals virtually in any market. So if for whatever reason your market does get too competitive release options, well, then you've got five others that you can choose from in your own backyard, probably in your own state or in states surrounding you. I mean, what's the difference if you my simple lease options course and my wholesaling lease options course.

So my wholesaling lease options course is not available anymore. I used to have three different lease option courses, virtual these options wholesaling these options and sandwich lease options. I combined them all into one simplified course called simple lease options. That's the difference. I updated it a little while ago and I'm constantly updating. I just uploaded a brand new video last week right before I left for Colorado. I will put a recording of this on the same page, guys. If you go to JoeMcCall.com/spring2020. That link is not working right now. So go in and go there. Nothing's going to happen. But in about an hour or two or three, sometime the this evening, I will get this my map and the video of this call at JoeMcCall.com/spring2020. OK, thank you, guys. If this is it's been helpful for you guys. OK. Some of you are giving me error messages saying, yeah. That link doesn't work. I know it doesn't work yet because I know I've not put this mine map on the on that page yet. So it we'll be up there by the end of this evening. OK.

Greg is asking, what do you do when a for sale by owner thinks his property is way more valuable than what you're seeing in the comps. Make the offer anyway and give them time to cook? Sellers sometimes just need time to cook and you'll have to wait. Give them send them an offer anyway. Follow up with them and they just may need time to turn around. And maybe they're right. Maybe they can sell the property for what they think it's worth. Well, good for them. That's why, Greg, I always offer to sellers. I always say, listen, you should probably just list with the realtor. I pull away. Barbara, good question. Should we do the prescreening text messages or just cold call FSBOs and rentals that we find on Zillow? I don't know. They do do whatever works best for you. The goal is to talk to five sellers a day, five sellers a day. That's what you want to talk to. OK. Come on, guys. Some of you all are saying, hey, I thought the first day of spring was 21st of March and now somebody else is saying, no, it is March 19th. You're right. So what is it? When is the first day of spring, some of you are telling me March 20th, 19th and the 21st.So which what is it?

1. Chuck. Good question. If we don't inspect the inside of the house, how do you know if it needs a lot of repairs before the tenant buyer moves in? Well Chuck, number one. I send somebody to go take pictures or I have the seller send me pictures. OK. Also, when I start advertising the property, my buyers are gonna tell me what what's going on with the house. So my buyers tell me. And if it's in worse shape than I thought. I just go back to the seller, renegotiate or cancel a contract. It's not a big deal. I don't lose any money. I'm not putting anything down. I'd put down maybe 10 bucks. Hundred bucks on these deals. What is the best state to do lease options in? All of them. Now, in Texas, you can't you sandwiched lease options in Texas, but you can do lease options assignments in Texas.

John. OK. John, I apologize. He says, other than your communist comments, I loved everything you said today. Thank you. Can I lease option a deal from a property manager as long as the owner is willing to do it? Yes. And so my land, the land stuff that I talk about, it's just a module in my course. So I do not have a separate course for doing land. I'd recommend you check out Jack Bosch. He has a really good course called Land Profit Generator. Well, Mark Podolski from the land geek has some good courses on it. There's a land academy. They've got some good stuff on it. Seth Williams has a good course on land. RE tipster? I would recommend you check out Jack Bosch land profit generator. OK. How much is data tree? It depends. You know, I pay $300 a month, but I get to download 10000 records a month. OK. Patricia has clarified yesterday was the first day of spring, the earliest day in one hundred forty seven years. But it ended today. The first day of spring ended on the 20th. So it's started on the 19th. Ended on the 20th. Interesting. Patricia. Thank you. Thank you, Steve. That's awesome. Appreciate it.

Well, again, someone else that's saying don't bad mouth liberals. I'm not, OK. My intent of this webinar not to offend people. I usually do that pretty well, but I apologize if I offended any of my liberal friends. God, by the way, guys, did you know that God is not a Democrat or Republican? Did you know that God is not a Republican? I was just reading this in the Bible the other day. Joshua was leading the people of Israel into Cain and. Right. And you've just crossed the Jordan River and this big, huge dude all of a sudden appeared him with a huge sword in his hand. Right. And Joshua came up to and said, who are you or your friend or foe? And the guy says, Neither I'm the captain of the Lord's armies and take off your sandals because this is holy ground. I was like, oh, that's God's perspective. I think a lot of times, especially when it comes to politics. You know, he's not he doesn't come to pick sides. He comes to take over. He doesn't come to take sides. He comes to take over. So I know I just offended more people by saying that, but that's what I think. So if you are easily offended, then you may have some things you need to work on. What's the difference between your lease options course and the Zcode. The zcode is just a course on how to find leads on Zillow. My lease options course is what to do with those leads when you find them for your lease options business or your land business. How critical is your Web site? Good question, David. Is this a David that I know? By the way, if it is, what's up? But the David that I know in St. Louis, who goes to my church. Anyway, Web sites are important. In fact, I have an interview next week with a new friend of mine. Name is Jesse. And he's got a great company called REI Conversion. REI conversion. Look up their Web site, REIconversion.com. And they have really nice Web sites and I'm going to be interviewing him. So Web sites are important, especially once you start selling properties.

Can subject 2 deals work in these times? Yes. But again, I don't I'd rather control not own properties and subject twos. You own properties. And I just feel like they're bad. They're harder to get out of. OK, guys, I'm just gonna go through these questions just for a couple more minutes because we have already been over two hours. Somebody said I thought the zip code was a cure for the zombie virus. Zcode that's funny. The Zcode was just a course on how to find leads from Zillow. But you guys are asking a ton of really good questions and I'm just I don't have the time to go through them. Eric, the answer to your question is yes. OK. By the way, I do teach Aaron. Aaron Brown, answer your question. I do teach how to do lease options in Texas in my class. All right, guys, appreciate. I want to put a recording of this in the JoeMcCall.com/spring2020. JoeMcCall.com/spring2020. I'm again, if you want my course, go watch my webinar SLOClass.com, SLOClass.com. Or you can just skip the webinar. Go to JoeMcCall.com/now. And you'll get your money back when you set up your business in six months. OK, guys. Hope this has been helpful to you. And we will see you all later. Take care. Bye bye.