Welcome! This is the first time we’ve filmed a coaching call with a student and Jim Kirshbaum is our guinea pig/student.
We figure that helping Jim will also help you since most people run into the same challenges in real estate investing. Jim’s in the Minneapolis/St. Paul market and he wants the call to focus on marketing and automation.
Jim admits he’s a procrastinator, but so am I. He’s made numerous offers and has already learned that he doesn’t have to go too deep with a seller before making an offer. I’ve found the same to be true.
You need to present yourself as a reluctant buyer. Ask a lot of questions and the seller’s answers put him in the hard seller position. At that point, make an offer and you’ve solved the seller’s problem.
Jim is talking to 2 to 3 sellers a day and his goal is to do at least 4 deals a month. To accomplish that, I estimate he needs 180 leads a month.
Another student, Dustin, lives in San Diego and is making about 5 deals a month in Oklahoma. He credits his success to following up. One took 20 touches, but he says the average is about 7 touches.
Jim is considering partnering with another investor in his market. That may be the best way to get started. Then, once the ball gets rolling, the momentum continues.
Listen and learn:
- My student, Jim Kirshbaum, is just getting started in real estate and has not closed a deal yet.
- Gavin suggests using a VA for 2 hours a day to send texts and set appointments.
- Stop doing $5 an hour activities and do the $500 an hour activities.
- Follow up, follow up, follow up… including mailing offers that you’ve already emailed.
Mentioned in this episode:
- Joe’s podcasts on iTunes: Real Estate Investing Mastery Podcast
- Video about virtual wholesaling: VirtualCaseStudy.com
- Hire a VA: Upwork
- Scrape leads from Zillow and other lists: Scraping Solutions
What are you thinking?
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