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There's only four ways to make money in real estate: Buy and hold, meaning becoming a landlord; fix and flip, buying a house, fixing it up, selling it on the retail market. A lot of those shows that you see on TV, that's what they are. They're fix and flip shows. Third one's become a wholeseller. What a wholeseller does is get a property under contract, and then sells that contract to an end buyer, which is typically another investor. Fourth way is to become the bank. You lend your money or capital you have access to on real estate deals. That's it. There's only four ways to make money in this business. That's all of them. That's the whole shooting match. And I want to talk about on today's show, for some reason the title didn't transfer over here on Facebook. But, the title of today's show is you're still building on a blueprint when you knew less.
View Episode →You don't have to quit your job and build a real estate portfolio to build a substantial net worth in real estate. You really don't. In fact, if I knew what I knew now, I don't know if I would've ever ... Let me see if I can preface this a little differently. When I got into real estate, the market was so insane that you were 15, 20, 25,000 dollars out of pocket. And the reason I got into real estate full time is because I couldn't figure out how to buy houses without putting 15, 20, 25, 30,000 dollars out of pocket on each deal. I just couldn't figure that out. So when I started Houston House Buyers, that's when I figure out, "Okay, this is how this works."
View Episode →Yep. Real estate. So the market's fine guys. I'll tell you, there's plenty of deals out there, and I want to go after one misconception and it's just because it's a comment I saw last night, where somebody said, "I don't want to be on any wholesaler's lists, because wholesalers don't send out any good deals." And I immediately responded with, if you're waiting for a wholesaler to make you a multimillionaire or you're waiting for a real estate agent to make you a multimillionaire, guess what? It's not going to happen. You're going to have to get off your duff, and you're going to have to go out and look at those properties, and you're going to have to walk them and make offers. You've got to put some activity in this business.
View Episode →I bought nine houses in 13 days in August. We made some changes to our marketing program. We're buying more houses. So, I was chatting with some friends of mine over the weekend, and one of the things that I talk about but I haven't talked about I don't think a whole lot of in 2017 is why to invest in real estate. The two best reasons to invest in real estate ...
View Episode →Oh, people who say they're self-made millionaires is just ridiculous. It is the single stupidest thing I think I've ever heard. "I'm a self-made ..." no, you're not. By the fact that you simply sell products or services to somebody else doesn't mean you're self-made. You can't operate a business in a vacuum. It's one of those things ... It's one of those conventional wisdom things. Most conventional wisdom is nonsense, and it's one of those conventional wisdom things that just drives me up the wall. It really does. Well, let's talk about real estate today.
View Episode →Today we go way back. We're going to go back to the basics. We're going to get real simple in today's show. We're going to talk about how to buy a house as an investment. I'm going to introduce the concept of wealth today, but it must satisfy two conditions and I'll tell you what those two conditions are now. Cashflow and equity. If you don't have either, you're not creating wealth.
View Episode →Today's show I want to talk about something I started on the radio or on my Facebook page this morning. That is greed and what greed is doing to your business. I get a lot of people that don't understand what greed is as it relates to real estate, so let's first talk about what greed is by example, because I think that'll make a lot more sense to folks. Let me give you the first example. You're negotiating with your contractors. Now, don't get me wrong, you've got to get a good price for stuff that makes sense, but one of the things I see is new investors want to cut contractors to pieces on their numbers. Reality is that your contractor's gotta make money, right? Everybody's got ... here's the reality of this business, everybody's gotta make money doing it.
View Episode →We don't do real estate education full time, that's one of our other kind of gigs that we do, is helping our students get to the place where we were at when we first started. It's amazing to me all the week ... Because, a lot of our folks ... Half the people that are in our group are full-time real estate, the other half are part-time and have day jobs and all that. It's amazing on the weekends how many text messages and Facebook messages I get from students of ours, or clients of ours, that say, "Oh my gosh, locked another one up, I'm doing this, I've got three more under contract, we just closed on another one." We're building a real machine over here of folks who are highly successful in this business.
View Episode →Jason live in studio
View Episode →Tom live in studio
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