What most don't realize in real estate, they are looking in the wrong place to find deals. In this episode we start off talking about a deal Pete did with owner financing, principle only payments. For ten years. At 66 cents on the dollar. In other words: Pete bought this property at a 34% discount. And we cover the whole deal in the beginning of the call. Then we went over some of the other deals Pete has done over the past ten months. Previously to that, Pete knew nothing about real estate investing. We moved onto what kind of seller do we need to find to get these deals. And, most of these sellers have pretty houses so you don't need a lot of money for repairs and run contractor's. Instead you will work on finding the buyer so you can cash out. Pete talked about the difference between talking to the right seller, and the wrong seller. The system we are talking about works. In actual fact, the only thing Bill spends all of his time doing is just keep folks on track to use the system. A lot of people fall of the tracks and needs Bill to get them back on track. And when they do, they get results. So if you want to get going in real estate investing. This is a great episode to listen to. Also, on this episode we start taking questions from liteners. And this has added a whole new level of training. So don't miss this one!
Now that the advertising and marketing starts to work you will have sellers calling you trying to sell you their house. This is a VITAL process most don’t understand. Here is why . . . my marketing brings in about 30% to 40% rate of return. Simply put – mail 100 letters and get between 30 to 40 phone calls. Mail 10 letters and get 3 to 4 phone calls. It’s magical. However, not every caller is MOTIVATED (A Prospect)! So how do you figure this out before the NON-MOTIVATED (Suspects)? Well, on this podcast Pete (The Rookie) and I go over how we do it in detail. In fact, we have one form that we use to show us if it is a good deal or not. And, how you can get a copy of it. Hint: http://flippinghouses.club. So this episode is a must listen to for any investor, whether new or experienced!