Hey, how you doing, everybody? Joe McCall here from the Real Estate Investing Mastery podcast. And on this series of three or four videos here, I'm going to show you where I believe the new opportunities are in this changing market if you're a real estate investor. This is going to be a really, really important video for you to watch and pay attention because market is changing. Wealth doesn't disappear. Wealth transfers. And so as we're changing things here in the market and the housing market, nobody really knows what's going on. And my goal isn't to tell you what's going to happen to the future or predict what's going to happen in the future. My goal is to tell you how to best prepare for the future. If things get better, great. If not, well, you're going to be prepared and you're going to have a plan. So in this mind map and there's a ton of stuff in here, you're going to go through this entire mind map in about three videos. And if you want this mind nav, you can get it for absolutely free. If you just text the word flip to 31, 31, 31, again, text the word flip to 31, 31, 31. If you're watching this right now on Facebook or YouTube, I'd appreciate somebody typing that in the comments so that y'all can see it. And if you'd like this video, give me a thumbs up. Subscribe to the channel, share the video or whatnot. OK. So there's a lot of new opportunity coming in.

Let's just dive right in. I want to give you some big picture things. And I've talked about this a lot before, but I want to be sharing it again in a lot more detail here. But every crisis comes with an equal amount of opportunity. All right. It depends on how you react to it. Now is the time to keep your eyes open and understand that this, too, shall pass. It's just a matter of when. And when we're in this crisis, there's two very important rules you need to understand. All right. Time is your friend and emotion is your enemy. Let's talk about time is your friend. You know, time is everything when it comes to being prepared for a crisis. Let me kind of explain this here. No one knows how long this crisis is going to last. Maybe it'll blow over in a couple of months. Maybe it won't. Maybe that's a slight blip or maybe it's something more major. The one single fact we know is that we just don't know how this is all going to play out. So you need to detach yourself from your own bias. Admit you guys. We just don't know the future. So you need to prepare for both the best and worst case scenarios. Hope for the best. Prepare for the worst. Right. So the more time you can give yourself in your business, the more likely you're going to be to be prepared and to recover. And more time gives you the ability to make better, more strategic decisions. More time gives you the ability to make better adjustments and move when you need to.

Now, the second important rule is done to understand is this emotion is your enemy. Fear is going to cripple your business. Fear drive short term decisions, short term decisions driven by fear cause long term problems. And during times of fear and panic, people often become irrational. People usually follow emotions rather than logic. So as business owners, we need to understand again. Time is our friend, emotion is our enemy. So it's time to look for opportunities. Kind of like a wild fire. You know, when a crisis burns down the weak, it allows new life to grow. And all that new space creates an opportunity for new businesses and ideas to flourish. And there's been there's tons of examples of businesses that have started during huge recessions. These are companies that started after the crash of 2008: Airbnb, Uber, WhatsApp, Pinterest, Slack, stripe, some of the technology companies. Right. So as you're looking for opportunities, remember this, your mind will only find whatever you focus on. So if you focus on fear, you're gonna find that or you can focus on opportunity and you're gonna find the opportunity.

So how could you use this time as a way to find empathy for your customers, not take advantage of them? Right. How can you serve your customers better, your buyers or sellers, your investors, your you know, your lenders, your title companies? Right. How can you serve them better? Don't pretend to ignore the problem with your customers, your tenants especially. Right. And hope that it goes away. What can you do right now to make your tenant, your buyers or sellers? You're their lives a little easier. So time to look for opportunities, right? The second thing I want to talk about is the importance of investing right now, not saving. There's a difference. It's important to invest for the long term. You know, the worst thing you could do right now is sell everything that you have in the stock market or panic and freak out. But, you know, the quote from Warren Buffett, be fearful when others are greedy, be greedy when others are fearful. So right now, it's time to invest in your marketing. Don't not stop. Don't slow down.

A lot of your competitors have stopped marketing. We're seeing this in Facebook and Google. AD costs have plummeted by 30 to 40 percent. One of the things I encourage to do is study the Great Depression and recessions of the past. And one time I saw this image at the Rockefeller Center when I was in New York. It's a picture of a guy selling his car after the Great Depression. And it's pretty sad picture and it really kind of had an emotional impact on me. He says hundred dollars will buy this car. Must have cash lost at all on the stock market. It's its very famous picture. And I saw this at the Rockefeller Center in Rockefeller. During that time, we actually helped a lot of people by creating new jobs. And below that image that I took the screenshot here and I know it may be hard to see. I'll read it to you here. On Black Tuesday, October 29, 1929, the stock market crashed boom. It turned dramatically to bust, triggering the Great Depression, the worst economic collapse in the history of the modern industrial world. New York was especially hit hard, almost kind of like it is now. Strange.

Three quarters of a million people were out of work. Temporary shantytowns or Hoovervilles as they were called, sprang up in Central Park and along the East River. Rockefeller, by creating over 75000 jobs, helped keep many people afloat during those dark days and was thinking about that. And I want to be a Rockefeller. You know, I'm not going to get the money that he has, but like, I want to be able to create jobs. I'm looking for opportunity. I am not going to go down with the sinking ship. Right. So study it for yourself in this mind map. I actually have some links to a Wikipedia article on the Great Depression. Do simple Google search. And this is fascinating. Find out what are the sectors that did well during the Great Depression. I did a study on that. I have a Google link. You should go through this and look at it. There's a really fascinating article in here. The the five Great Depression success stories. I found this on mental floss dot com. And it's really fascinating article about what these companies did to survive the Great Depression. And just real quick, my notes here. They had cash before the crash. They had little to no debt. They used cash to buy assets at huge discounts. They spun and sold the assets for more cash when they needed it. They lowered their prices. They increased their marketing, they diversified. Did you notice they increased their marketing, the diversified. They got creative with marketing and incentives and they didn't forget the small guy. So that's a really good article. I'd encourage you to read it again. You can get that in the mind map by just texting the word flip to 31, 31, 31.

Third thing I want to talk about is growing. Don't shrink. You know, be careful with social media and the news especially like don't read the news before you go to bed. Come on. And you are what you consume, right? You're going to focus or what you focus on will grow. Your income will only grow to the extent that you grow. So how do you grow during times of uncertainty? Invest in your education books, online courses, podcasts, videos, whatever you do, don't binge watch Netflix or Disney Plus or Amazon Prime. There's 100 of them right now. Right. Take a walk outside. Take a deep breath. Take some time to get some fresh air and think now is the time to grow your mental state, your physical body. You're in business, your business as well. I talked about some of that later heard positivity, not toilet paper. Right. It's all about perspective, guys. Our grandparents were called to go to war and pick up guns to defend our liberties. And here we are freaking out about toilet paper. Right. We're fighting about toilet paper, worried about washing our hands. Obviously, that that is important. But guys, this is only temporary. Be grateful. Focus on the positive side of things. You can't win the outer game if you're losing the inner came, right? So eat good food. Stop eating junk food when we're at the grocery store. The other day I saw a guy cart full of Red Bulls. Right. Obesity, bad health kills way more people than need any flu virus. So now it's time to double down on our health and our diet. Boost your immune system. Me personally, I've been eating to a lot more vitamins, eating a lot more fruits. Vitamin CS, I mean, getting more sleep to this is important. Stop reading the news. Drink more water. Water is super important. Don't forget your health. Gratitude. Stop complaining. Be thankful, guys.

Ask yourself, how can I grow from this instead of always complaining as a why is this happening to me? Instead Say, you know, what can I learn from this? Where are the new opportunities? And that's what I'm hoping to do with you through these videos. The next thing I want to talk about the big picture things is being a producer, not a consumer. Your circle of influence needs to be needs you to be, rather, positive and encouraging. So be careful with social media. If you've got kids, teach him this stuff right. You are required to step up and lead. People need leaders now more than ever. So it's time to show up and serve. OK. Receiving at this open, you have a responsibility to you, your business, your team, your customers. Now is the time to create a safe place. Communicate with your audience. You through teams, show up, support them, let them know you're here and help them in any way we can. Now is the time to be a producer, not a consumer. Start spreading good things around instead of the bad things. Now, another thing that you need to understand is learning to identify problems and then solving them as this situation evolves. There's going to be new problems that emerge every single day. But as entrepreneurs, guys, we are problem solvers. So there are exciting new and innovative ways people and businesses are adapting to change, right? Companies are telling people to work from home. Brick and mortar stores are offering specific store hours for high risk customers, restaurants, cafes or doing takeout to go options. Teachers are helping parents at home. Right. My daughter just had dance lesson from on Zoom just a couple hours ago in our house.

So this is now new and exciting way looking look for innovative ways that we can adapt to this change. The point is this, guys, times like these create innovation and creativity. How you change and adapt to uncertain circumstances can have a huge impact on your business today. And in the long run, start making a list of problems that you're seeing right now and start asking yourself how can you start solving them? This relates to being a producer, not a consumer. I start coming up with solutions. People are living in fear and they will happily pay you for solutions that will provide them a sense of security and safety. Learn to pivot in your business, insert yourself into your customers internal dialog. For example, if you have an Airbnb instead of featuring nice pictures of the front of the house features some pictures of air purifiers, sanitizer products, talk about all the extra cleaning that you're doing. So think about what are customers thinking about now and how can you then help them with that?

Related to this is preparing and not panicking. All right. You need to know your numbers and what are my notes here? Oh, yeah. Data, not drama. It's so easy to freak out and get emotional, but this is now all about data, not drama. So we need to prepare. Don't panic. So you need to know these numbers, right? What's your current cash on hand? What's your current run rate? Are you bleeding cash each month? You have to ask yourself what's going to happen if things continue like this for the next three to six months? What if all this government assistance in this loan money that they're talking about doesn't happen? What if it takes two to three months to get the money? You've got to ask yourself how what's going to happen in my business if I don't get that money, if things continue like this? It's time to face the facts, face reality, rather than just brush it aside. Communicate with your team. Come up with a plan. You know you've got a plan and think strategically, create some event based milestones that will trigger strategic decisions in your business.

What I mean by that is instead of just freaking out and cutting everything and firing everybody is like, listen, we have three months to accomplish X. If we don't accomplish that goal, this is what's going to happen. If revenue drops to X, then our expenses have to dropped Y. So these scenarios become your decision makers or markers, right? This will remove the emotions and your biases and knowing again, recognizing this that emotional, reactive decisions will kill your business. You need to come up with a plan, prepare and not panic if you wait and to make these decisions until you're forced to, it's probably already too late. So bottom line, if your revenue is dropping, you need to reduce your overhead. This is also a good time to get your personal house in order. The mind map has taken a while to open up. You're here. Your chances of dying from the virus really, really small. Right. You're more likely to die from cancer or a car wreck. Car wreck. But why let a crisis like this go to waste? Use this opportunity to make sure you have things in order. Do you have life insurance, disability insurance, living trust, will, do you have a business partner? Do you have an operating agreement that covers sickness and death? If you do, can your spouse and kids access your username and passwords? You know, what about your personal finances, business accounts, software, things like that? What about your parents? What are you gonna do if you're sick in bed for three weeks with this virus and you're the primary breadwinner? So now it's time to just get your house in order. Okay.

But prepare. Don't panic. What if. Guys. Some of you are personally on the ropes right now. What if you're struggling to pay your bills on the 1st of next month? Well, number one, I would not count on the government bailing you out. It's time to get creative as H.E. double hockey sticks. OK, you've got to work your tail off. People want to stay at home, so start delivering food with UberEATS or door dash or whatever they are, right? If you have a skill, offer it for half the price of your competitors. If somebody came by and said, Hey, Joe, I'll cut your grass. What do you paying now? I'll cut your grass for half of that. Then you got the work. I'll give it to you. So reach out to one hundred people a day, offer to help them in any way you can. Get on fiver and Upwork. get a realtor's license. Find tenants for investors. I just saw somebody the other day I was talking about doing 3D because nobody can really go look at houses right now. What if you bought like a three hundred dollar 3D camera and there's things you can do like programs where you can go take a bunch of pictures inside these houses and get a 3D tour of people's houses. What if you got one of those cameras and started e-mailing, calling every realtor and leasing agent, property manager you could find and get paid to go take 3D tours, pictures of their properties.

If you have a realtor's license. Think about getting tenants, going out, contacting landlords and say, hey, listen, if I find you a tenant, you just pay me one month's rent. So you only pay me if I find somebody for you. Right. Find a group of people who have money, who have large businesses and find out how you can help them, how you can serve them, offer whatever services you can to them. Call out their major competitors and help them crush their competition. What I mean by that is you're contacting companies. Hey, how would you like me to help you do whatever to your competition? When you go to work with a team like that and you find a way to win? The opportunities are absolutely endless. It's time to get creative as H.E. double hockey sticks. Okay. Do whatever you need to do right now to make money and whatever. Do not quit. Do not give in. Fight every single day. This challenge will come to an end at some point, all right.

Now, I'm going to talk real briefly. Hi. Big picture of what I see are some of the opportunities in real estate. And my next couple of videos I want to do want to be talking more specifically about these three things, making multiple offers, buyer marketing and following up with old leads and actually giving you spreadsheets and calculators and marketing tools and things that I use for this in the mind map. So you want to want to make sure you get that, by the way. If you don't see those videos. All right. I'm going to have videos for all of this for the big picture stuff and these three things that I'm doing in the mind map itself. So if you want the mind map again, text the word flip to 31, 31, 31. Text, the word flip 31, 31, 31. And if you're watching this on YouTube or Facebook, please type that in the comments and give me a thumbs up if you like this video and share it. We can all see that, all right. So the opportunities in real estate. Again, this is high level stuff. I'm gonna be diving deeper into detail with this further on in the mind map.

If you're new to this business, guys, let me just say this. You're in the right place at the right time. This is the best time to be in this business. Like I was saying before, wealth doesn't disappear. It transfers. OK, the world will soon be on sale. Prices will soon be at an all time low again. You need to think about where is the cheese moving to. And remember this. What worked yesterday may not work tomorrow. So I think you need to get educated on these two main things right now if you want to succeed. OK. Creative financing and fast cash strategies. What do I mean by that? Learning how to offer seller financing or lease options, fast cash strategies in terms of wholesaling, flipping, lease options, selling or assigning contracts. Now is a better time to be focused on the quick nickel rather than the slow dime for a lot of reasons. So get educated, find some good podcasts, mine, real estate investing mastery podcast. I do three episodes a week. Just go to any of your podcast players Spotify, Google Play, Apple, of course, and all of that. Just do a search for Joe McCall or real estate investing mastery. Real Estate Investing Mastery and find my podcast. Listen to it. Get some education, get my books or a bunch of books.

There's tons of YouTube, but whatever you do when you're learning this stuff, take action on what you learned. Spring is coming. It's actually already here. It's time to be optimistic, guys. I quit my job in 2009, a year after the last recession when the market was freefalling. So you need to think about where and how did you know I was? I was flipping lease options, that's all. I was flipping these options. This is why it's important to listen to podcasts like mine. Again, mine is real estate investing mastery, real estate investing mastery. This is a great podcast. And it was Shawn Terry, what wholesalers should be doing in this uncertain market? Rob Swanson navigating the crazy market in 2020. So yeah, so many good things out there. Now what's working today is not was working a couple of years ago. All right. Now, look, real estate in general. There's a market everywhere. You just gotta go find it and you should be able to survive with three months of no income. I mean, look at your cash flow will be interrupted if you don't have enough cash to make it through the next three months. Consider liquidating assets as quickly as possible to give you some peace of mind to help you make it through this uncertain period. Don't wait until it's too late and you're forced into a fire sale in an uncertain market.

And 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. So ideally you want to send an offer to every seller you talk to. So this won't only just plant your flag, but also give you a reason to follow up with sellers later. Hey, I'm just following up on that offer I sent you. This is happening a lot. We're seeing this old leads are starting to come back. We're doing more follow up, getting a much, much bigger response right now with all of our follow up. So it's a time when people are concerned about in this time, when people are concerned about liquidity, masterminds are an obvious expense to eliminate. But this is something that I would urge you to rethink right now. During this time, community collaboration, they're going to be the secret to having a masterful a massively successful business as we move into the future. Global insight 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. So if you're not in a mastermind, start one or join one. And if you are in one, I would encourage you really do not get out of your mastermind. Don't slow down.

There's more motivated sellers now than we've seen in a really, really long time. We're seeing this in our own selves. I'm seeing it with my own business and with our students. There's less competition, more sellers are more motivated now, so do not slow down on your marketing. You need to be focused on the quick nickeled rather than the slow dime. Try not to use your own cash right now. Focus on affordable housing. There's a really good. Okay, here we go. People always need a roof over their heads. The population of the US is growing. Don't forget that. It sounds like, you know, everything's falling apart, but population of the United States is growing very, very rapidly. Follow the demand. It's easy to see where that is. In the mind map here. There's a really good article. There's a bunch of really good articles on bigger pockets. So check that out. If you have rentals right now, I'd consider I would urge you to consider doing Section 8. I've had a really good interview with Rob Swanson in my Real Estate Investing Mastery podcast right here. And well, we talked about that. That's something that he did when the market crashed last time as he started focusing on Section 8 rentals. Big everybody thought he was crazy, but that's when the government can pays the rent, basically. Right.

Also, finally, I'll say with this, in regards to real estate, you can do deals virtually. I know I talked about this a lot. You already know it. But how certain are you that you can keep your job or you're going to have a job to come back to? Why not do deals from home? You don't have to go see the house. You don't have to talk on the phone. I mean, you can do deals by just talking on the phone with sellers and buyers. Okay. So do your deals virtually. All right. Let's talk about marketing real quick. Double up on cold calling, marketing and texting. It's working really good. People are gonna be at home. They are at home. You should get a higher percentage of people that answer. Vacant houses is a great list to call. Follow up a super inportant today. Send text messages or sly broadcast, voicemails to your current leads. Let them know. Hey, we're here to help. Your efforts will be shown now, but even more so in 90 days with you following up mailed direct mail guys is. Coming back, but it's working really, really well. Actually, we're seeing upwards to 2 to 4 percent response rates were before we were seeing 1/2 to 1 percent response rate.

Wholesaling, start focusing on the buyers list. I’m going to be talking about this in my next video. It's easier to sell people what they want than to sell what you have. This is really as important now in this market. I would encourage you all to call and e-mail your current buyers, find out who's still buying now and what are they buying. How do you find those buyers? Call realtors of recent investor transactions. Call landlords and property managers. Look up other recent investor transactions and skip. Trace them, call them, e-mail them, send them letters. There's a lot that you can do right now with that. So the other thing you guys already a lot of you know this. Make sure you're in increasing your inspection periods and your closing dates offers sellers to just leave a key. You can do inspections. You want to come into contact with them, get sellers and tenants working for you, taking pictures, doing walk through videos. You can do live. Zoom's beat with with sellers if you want and and buyers expect your closing processes to take longer. That's OK. You can't control that. And don't be greedy on your wholesaling deals. I mean, we're getting we were used to 15, 20 thousand dollar assignment fees. Well, guess what? We may need to be back to normal with just five to ten thousand dollar assignment fees. That's OK. Don't be greedy.

Lease options. This is exactly why I love lease options. You can control property without own it, owning it. When the market goes south, I'm not going to go down with it because I don't own anything. I only control the paper. I just have an option to buy the property. So now is the time to focus on lease options and owner financing long term zero percent interest. I'm seeing a lot more time talking about this in my next videos here. But you don't have to worry about title companies. I quit my job. Nobody was quitting their job in 2009, the year after the last recession started. It's so much easier to negotiate deals with sellers when you can give them whatever price they want. Right. You don't have to pretend that you have money to close or rely on cash buyers and hope that they can close when you can sell your deals lightning fast without a buyers list using lease options. Final thing I want to tell you here is about vacant rural land. My boys helped me with our vacant rural land business and it's going really well right now. Preppers are looking for space. People in New York City are looking for space. People want to get away from the high, densely populated areas. So there is going to be a trend away from high density. And right now, you can buy land for super, super cheap at 20 cents on the dollar. I want to be talking more about that on my podcast as well. All right. So now if you want some help and things that we've talked about. Number one, get this mind map. Text the word flip to 31, 31, 31 to get the mind map.

Also, before we end this now. I want to tell you, if you watch my webinar SLOClass.com, SLO stands for simple lease options, SLOClass.com. You can find out how we are pivoting and using creative deals like lease options to really do well in this market. And the way I set up my course, if you don't know this. My philosophy is real simple if I can't make you money that I don't deserve yours. So when you go through the class and you set up your business like I teach it, you have six months, you get all of your money back. You don't even have to do a deal. Just go through the course, do the marketing, make the offer, set up your business like I teach you with the systems and the tools and you get your entire investment back in six months. All right. Cool. So exciting. A lot of stuff to talk about. I'm gonna be doing three more videos talking about, number one, how to the opportunities available with creative deals and why it's important to make multiple offers. I'm going to actually give you two different calculators. I used to make multiple offers. I'm going to go through example deals. I'm only talking about buyer marketing. This is so important right now, finding the buyers because they are out there and finding out what they're willing to pay for these properties and how to contact them. And I'm going to talk about how to follow up with old leads. OK.

Let me show you one more thing with this mind map. If you text the word, flip to 31, 31, 31, this is the same mind map I used when I gave away a wholesaling one to one course. So actually, in the bonuses of this mine map, is that wholesaling one to one class? You have the videos and the transcripts, all of the steps. This was, of course, that people sell for a thousand bucks. And we teach you how to wholesale a deal from beginning to end. And we give you all of our marketing pieces and contracts for wholesaling deals here, scripts and whatever. So check it out and you can only get this in the mind map. And you can get my audio book for wholesaling lease options as well. I'm giving you a lot of stuff here. But you can get the audio book from a whole selling lease options book. Going to WLOAudio.com. For only a dollar ninety nine. OK, cool. If you want this mind map, text the word flip to 31, 31, 31 and I will see you guys on my next video. We talking about how to make multiple offers to sellers. All right. We'll see you guys. Take care.