http://JoeCrumpBlog.com – Sign up for free real estate investing training with 25 year real estate veteran, Joe Crump. Learn how to build an automated, sustainable, profitable investing business with no down payments and no credit.
Discover the most advanced automation software for investors available today at:
Learn how it will bring you a flood of motivated seller financed leads every single day.
Six Month Mentor Program:
To read this transcript and more of Joe Crump’s articles, click here: http://joecrumpblog.com/how-to-create-a-100000-annual-income-in-six-months-or-less/
Here’s another outrageous claim. How to create a 0,000 income in six months or less. This really isn’t that difficult. This is a matter of flipping two simple For Rent Method deals, one every two weeks. All you need is about ,000. If you make ,500 a month you’re going to be at the 0,000 mark.
Rather than building a portfolio, flip properties at the beginning, where you take control of the property, with the For Rent Method. Go to people who have their homes for rent or For Sale By Owner and ask them, “Would you consider selling your home rent to buy rather than selling it outright, or rather than renting it?” Typically one in three say, “Yeah, I’d consider doing that, but I don’t really understand it.” You get on the phone with them, explain how it works, put the deal together and get control of the property simply with a Lease Option Memo. It’s an assignable lease option deal that you then go out and find a lease option buyer.
If you have that document that makes you a principal, and makes you the owner of that property so that you can turn around and sell it. It gives you the ownership that you need in order to make it legal. You get that document signed, you advertise Rent to Buy and you find a buyer.
The first month’s rent goes to the seller and they get the property sold for full price. They don’t have to pay any realtor fees, they don’t have to pay any expenses, they don’t pay you anything. You go out there and you’re paid by the buyer, the new buyer, the lease option buyer. So they come up with maybe ,000 down on a property. You keep the ,000. They also come up with the first month’s rent. You pass the first month’s rent on to the seller. You’re done with the deal and the lease option deal is between the seller and the new buyer after all is said and done. All you’re doing is assigning your right to buy it. You just need to do that a couple of times a month to make that consistent.
Give yourself three or four months before you can expect to make any money. I’ve got people that make money in a week or two, but they’re the exception not the rule. The thing you have to learn as you’re going through this process is how to talk to these sellers and speak to them in a way that you have credibility, that they believe you can do what you say you can do, and most importantly, that they believe that what you’re offering will benefit them.
If you can show them what their other options are, what you’re offering makes sense for a high percentage of people that are selling For Sale By Owner. This is a great way to get started and to start making money just by doing two deals.
If you’ll look at the actual amount of time that it takes to do two deals, most deals will take five to fifteen hours if we have outsourcing. I’m going to talk a little bit about outsourcing in some of the later videos.
If it takes you ten hours to make ,000 you’ve just made 0 an hour for that time. I think it’s realistic to think you can work ten hours a week.
That task is making offers. An hour and a half, two hours a day, four or five days a week. If you do that, the likelihood that you’re going to get into a position where you can do a deal or two a month is very high within a reasonable period of time.
Everybody comes in with a different level of skill. Some people are better on the phone than others. Some people are better technologically than others so they can get the Automarketer up and running faster. The Automarketer keeps you from having to do it manually.
Once you get to a point where you’re doing it three months in a row, where you have consistent income that replaces your income that you’re currently making, you can probably quit your job at that point and feel that you’re going to be able to be consistent with that from now on. Three months in a row is a pretty good litmus test for that process.
To read this transcript and more of Joe Crump’s articles, click here: http://joecrumpblog.com/POSTLINK
Video Rating: / 5
The average salary of a financial planner usually corresponds with the salaries of the clients that they work alongside. Find out how financial planners can expect to make varying salaries based on their relative location with help from a financial strategist and consultant in this free video on salaries for financial planners.
Expert: Ted Schmidt
Bio: Ted Schmidt has spent the last 21 years as a financial strategist and consultant. He is active in the Hendersonville Chamber of Commerce and the Real Estate Investors of Nashville.
Filmmaker: Dimitri LaBarge