This episode is a follow-up to the coaching call we did on July 10. We took so many questions from attendees, it’s taken three podcasts to answer them.
These notes contain mostly questions… just a few answers. Watch or listen to the podcast to get the answers, plus the dialogue between Gavin and me. There’s a lot of great information for you.
Q: If finances are limited, would you and Gavin be interested in JV-ing on deals with me?
A: We only work jointly with our coaching students for a variety of reasons.
Q: Are your VAs currently using REI Simple for cold calling or another platform?
A: We use Mojo Sells. It’s easy and many VAs are already familiar with it. REI Simple can do outbound calls, but only one at a time. An hour of cold calling generally yields 1 or 2 leads.
Q: How do you wholesale lease options?
A: Read Joe’s book, Wholesaling Lease Options.
Q: Can you wholesale lease options remotely?
Q: Once the Purchase-Lease Option agreement is signed, how do I make it legal?
Q: Do you have a formula for estimating rehab costs when you’re making offers?
Q: What if I want to work with a Realtor and don’t want to sign any contracts/paperwork?
Q: I have sent out 500 texts for several weeks, and have gotten no interest at all. What do I need to do?
Q: If I live in a state that doesn’t allow sandwich lease options, can I do them in another state? How do we set up a payment account to make sure the tenant buyer’s payments are counted as concessions when they purchase the house? How do investors get paid for either type of lease option… does it need to be handled by an attorney or a title/escrow company? Where do I find the contracts?
Q: If it’s difficult to find tenant buyers with the down payment, what do I do?
Q: Are lease options currently being done in the Los Angeles market? How do you check on the condition of a house if it’s out of state? How do you find a person out of state to help you find tenant buyers?
Q: If someone gets overwhelmed easily, how does one get started in lease options?
Q: With $500 per month to spend on marketing, what’s the best way to use it?
Q: When a seller accepts your deal, what contracts do you use to close the deal? Do you need to use an attorney or a title company?
A: All the contracts are included in my course, and I walk you through how to use them.
Q: With implementing the REI Simple CRM, what other websites do we need to set up?
Q: If someone exercises the option and uses an FHA loan, I cannot get paid from those loan proceeds. How can I work around the 90-day seasoning rule?
Don’t you want to know the answers to all these questions? It’s amazing how much you can learn from Q & A sessions like this. Consider letting Joe and Gavin jumpstart your business by attending their Implementation Workshop.
Watch and Learn:
- Five offers a day, 5 days a week will bring success… “Everything else is just stupid.”
- Please don’t ask yourself ‘what if’ questions because it just holds you back.
- Take massive action and follow up… it usually takes 4 or 5 touches to convert a seller.
- Joe’s courses are thorough and have the contracts you need to close deals.
Mentioned in this episode:
- Joe’s podcasts on iTunes: RealEstateInvestingMasteryPodcast
- Joe’s Lease Options book: WLObook
- Joe’s CRM: REI Simple (Send email to firstname.lastname@example.org to get it.)
- Smartphone messaging app: Voxer
- Compilation of case studies and training videos/podcasts: JoeMcCall.com/apply
- Online course on lease options: SLOclass.com
- Outbound calling program: MOJO Sells
- For building websites: JoeLikesCarrots.com
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