What Is The Fastest Way For You To Make Money In Real Estate?
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Whether you’re curious about the investment potential of real estate or you’re simply sick of infomercials promising little-known ways to “profit from your property,” it’s worth learning, for real, how real estate creates wealth. You are now probably thinking about what is the fastest way to make money in real estate investing. How long have you wanted to break free from the strict boundaries of your 9-to-5 job? How important is it to you to be able to provide for yourself and your family financially? If any of the above questions resonate with you, the real question is: have you ever considered starting your own real estate company?
“Luckily for you, CORE Member, in today’s blog we will be talking about how to get your first $40,000 in a matter of days with the help of this strategy”
Real estate, also known as “real property,” is technically defined as land plus any other tangible improvement that may be built on or installed on it. The improvement could be a new building or a new road. A septic system, for example, is an example of something that has been inserted into the ground. It is said that land with any of these structures has been “improved.” When it doesn’t have a septic system, it’s considered “improved.” Your home, as well as any vacant land you may own, is real estate. A skyscraper in New York City or a patch of undeveloped desert land that can’t be built on are both examples of real estate.
Because real estate does not simply exist, it has many facets. It has the ability to progress from unimproved to better. It is available for purchase or sale. It could be owned by the government, a corporation, or a private individual. However, certain elements can have a direct impact on the economy, such as consistent land improvement and the individuals and entities that facilitate ownership transfers.
Hey, everyone here we are at one of our mentors’ very first rental property. He is a longtime real estate investor, and he got started wholesaling real estate. One of the ways that he got started was driving for dollars. The problem, though, with driving for dollars is there wasn’t a system to do it you know, driving around neighborhoods trying to find vacant houses, trying to get those houses under contract, and then being able to flip that to an end buyer and making $15,000 to $20,000 for every transaction. The problem was there was no system in place.
Well, that’s where one of our mentor’s friends comes into this. She has created Driving for Dollars Mastery, which is a course that teaches you how to do this. She’s built an entire system and framework around it, and we will be going to tell you all about it today. So how did she get started with wholesaling and driving for dollars? We will take you back to the beginning of her journey. So, she was actually a window cleaner, the world’s best window cleaner for sure, and it was something she started when she was 17, definitely wasn’t something that she aspired to stay in her whole life. She wanted to get into real estate. She bought her first rental.
That’s why she got into wholesaling, to find rentals. It was an amazing opportunity for her. She was making a ton of money passively, and she thought “wow this is way better than washing windows”, like she wants to get more of this. But she was struggling getting loans and finding deals and her real estate agent wasn’t bringing her anything that made sense. And even if her real estate agent did, she didn’t have the ability to put down payments for a secondary property. There were just so many issues and barriers that she ran into. Then she learned about something called wholesaling, which our Mentor and Common, calls the art of finding discounted properties.
And she was like, well, that’s what she needs to do, she needs to get good at finding discounted properties. If she wants to build a bunch of rentals or even just find deals and sell them for cash. So, she could have money for down payments for loans and so forth. She actually got a coach before, and learned a lot, but she never did any deals from it. The main problem is her coach didn’t really give any marketing strategies. Her coach taught her how to do all these creative things once you’ve found a deal, but there was no real meat and potatoes on how to find the deal!
That is when she met one of our mentors, and she got some great strategies and learned a bunch of different strategies on finding deals. That’s when she started doing okay. She was doing a deal here or there. It allowed her to quit washing windows, she sold that business, and she went full time. Then a couple of years ago after about a year of wholesaling, which is just finding deals and flipping those deals immediately to other investors, she was like, well, “how do I take this to the next level?”, “How do I really make money doing this?” With that thought she learned about driving for dollars, which is traditionally not the easiest way to find deals, and she was able to put together a system in that year, and we made almost a half a million dollars the first year doing it, just from driving for dollars.
We should mention that one of our mentors and his friend will be doing a live webinar together where they really go deep in this strategy. So, this episode is really sort of an entry level to this strategy and mastery. That webinar, like we said, will go into depth on how to consistently find these deals. All the different strategies that we’ve learned and used, they will be going to talk about every single one of those. You will be going to get all of that information for free. Then they will be going to dive into their coaching course where they break down exactly what they do, exactly how they set up their driving for dollars system and then how they reach out to those sellers.
Like we mentioned straight in the beginning, one of the frustrations for us was the system, having a system in place because we didn’t have a lot of money. When we started in real estate investing and we were wholesaling, we were driving around neighborhoods just kind of trying to find houses that had snow on the walkways that hadn’t been shoveled, high grass during the summer with violations, or piles of newspapers in the driveway.
But you decided to take it a next step and actually build a framework around it. We will talk you through that process. What was that mindset like for us? It was a major learning curve and getting there was a lot of trial and error and a lot of money thrown away making mistakes. One of our mentors ended up becoming a coach for the sheer fact of giving back. So, at the end of 2018, he had done about a half a million dollars from driving for dollars. He was like, well, he’s pretty much tapped out. “I want to make a million dollars, 12 months but I don’t know how to do that.” He thought that he had tapped out his market. The drive for dollars system that he had was the biggest it was ever going to be. He was reading a journal, or a self-help journal called Living Your Best Year Ever by Darren Hardy.
In there, it talks about giving away whatever you want to receive. So, he decided to start teaching other people his marketing system so that he could give a million dollars to these students. That was how he’s going to give away a million dollars so he could make a million dollars. The coolest thing happened is he started teaching these students that, yes, they paid him to teach them. He started finding a ton of flaws and holes in his system. So, the system that he has is an accumulation of a lot of very intelligent and even way more experienced minds than his own. So, the system that they’ve created, to answer your question, they just wanted to mention where this system came from and how much time and money and effort went into this.
But the driving for dollars system, you can break it down into three parts. The first part is accumulating that list of rundown properties. With the systems, with the technologies that we use and the criteria, we’re finding anywhere from 20 to 100 properties every single hour of driving.
So, in our market, we have one driver that drives 2 and 1/2 days a week and we add. We’re usually right at about 2,000 addresses a week in our markets. We’ve mentioned finding snow, high grass, newspapers in the yard and things like that. But not every property is going to look that way. Those are the ones that are just obvious from a visual perspective. But you’re using software to identify these houses, even taking it one step further, are we right? So, we’re using an app and technologies that allow us to pull the data immediately.
As soon as we see those deals, we’re adding them, and it’s uploaded in an Excel spreadsheet. It’s a beautiful system. We’ll tell you to use an app called Deal Machine. So that’s part of the technology. The other part of it is the criteria we use– meaning you know what we add and what we pass over. We call it our driving for dollars cheat sheet. This is things like we mentioned– snow, broken windows, you know cars parked up on the grass ruining the grass, just do all of those different things. So, a combination of using that technology, the criteria that you use, you can add that many properties per hour. So that’s step one of the systems, is making sure you add enough.
Step two is reaching out to that list. There’s lots of strategies out there. What’s your favorite strategy on reaching out to that list? Because we think for a lot of people, they get scared about that part. And if you can overcome that piece of this, you can build and make a lot of money with this. We used to make 80 to 100 phone calls a day to my list that were coming in, leads that we had. We used to be on the phone constantly. So, do you have to make phone calls? Do you have to send emails? What does that reach-out look like for you?
There’s a couple of strategies. We like to make phone calls. One of our mentors teaches two strategies in our course. He teaches postcards, and he teaches cold calling. So, the postcards that he offers, he offers the exact template, the best possible pricing. It’s really simple. We’ve got it all setup with a company that does all of our stuff. That’s a great passive way. It’s a little more expensive than calling. So, if you have time, cold calling is probably the best.
He also has a bonus to our course where he goes into depth on how to use a cold calling platform called Mojo. You can call three people at one time. It’s a very slick system. You’re not hand dialing anything. You can call like crazy. So, he remembers the very first time he jumped on to Mojo Dialer and started calling a list. It actually wasn’t a drive for dollars list, it was a different list. But he had learned how to do this from Brett Daniels. It counts how much time you’ve been there. He literally had been dialing for 11 minutes, a lady answered. And she’s like, yeah, I’d love to sell it. I’m actually over here dealing with it right now. What are you doing? He’s like, I’m on my way.
So, he ran to her house. And 11 minutes in, he went and got the contract that day, sent it out to his cash buyers list. A flipper bought it, and paid him $9,000 for the contract, 11 minutes on the dialer. It’s almost mind blowing. Going from window cleaning to making $9,000 in 11 minutes is just crazy. It was a whole different world that he had never seen. And a lot of people think that they can’t do it, or that they need an enormous amount of money.
And we’ll get to step three here on your process in a moment. So, people listen right now if you think, “Oh, I can’t do this,” you’re going to build it from the ground up again. Yes. People hear our interviews like this and see us and go, “Oh, these kids are different. He’s got a team now, he’s got people to go on appointments for him, he’s got a cold calling team. Of course, he’s making a ton of money, and he has money already.” It takes money to make money. And guys, if it took money to make money, he’d still be a window cleaner. It’s hard to relate with someone that’s already had success. And we understand that. So, he was lying in bed one night, he just couldn’t sleep because he was like, “How do I inspire people?” “How do I get people to understand that they can do it?”
Like he’s nobody special. And he had watched a show called Undercover Billionaire where he does something somewhat similar to this. He takes $100, and he has like 60 or 90 days or something like that to build a business that the valuations a million dollars. It’s an awesome, super inspiring show. And he had the idea to move his family to Florida or anywhere, really. They ended up choosing Florida just because of the beach and Disneyland. It really doesn’t matter. This can be done all over. Yeah, that’s his criteria of why he chose a location– Disney and beach. It has nothing to do with the real estate market. That is a smart move. So, he got to keep his wife happy right while he works crazy hours. So, they are going to go, they are going to end up in Florida.
And he’s going to take $1,000 that he gets to use for marketing. His goal is to turn that into $40,000. It’s not going to be easy. It’s very possible to blow that out of the water. Like he has a student that he talks about in the live webinar actually. He just sent him his report for 2019. He joined the course in May of 2019. His very first week of driving, he brought in a deal that made him $113,000 profit. And that’s not any like remodeling, nothing. That’s finding the deal and getting rid of it to another flipper. Getting the contract, getting it under contract. You’re selling the paper to a flipper that wants to spend nine months renovating it. You’re not doing anything. We think he ended up closing on it with private money and then selling it to a flipper.
But it was a couple of days. But yes, he very much could have just sold the contract. If your contracts are assignable, you can just assign them for a fee. So, he could get there in the first week and make $40, $50 grand on one deal. But one thing he has learned is, he did all this marketing. And we think he’s done like $300,000 in 2019 from his report that he sent to our mentor. But the thing he noticed was a lot of this stuff, like he penned another one in the very first week that ended up cashing out in November. A lot of time, the people that you would talk to, may take some nurturing and some time. So probably only 10% of your deals are what we call low hanging fruit, where they’re ready to sell right then when you first contact them.
So, if he makes $40,000 in those 40 days, he really actually made much, much more than that. But finding– A lot of these deals could pop six, seven months from now. That was his experience. One of his early deals was probably tens of thousands of dollars. But it was because he had contacted them six months ago. And he had a follow up system that enabled him to reach out to them again. They said, is your offer still good? We didn’t want to sell it, now we do six months later. So that early work that you’re putting in, you’re laying the foundation for later success, right? And so going and doing this $1,000– So he teaches his students that if you have at least $50 a week, you can start, you can get going.
He was going to take a total of $1,000. He may even take a second job or figure out how to make more money to get a little bit more money for marketing, because the more you dump into marketing, the more leads you can produce. And like he said, he needs to find some low hanging fruit. And obviously, he was going to make way more than the $40,000, if he does hit the $40,000, over time. But he only got 40 days to prove this. So, he got butterflies in his stomach. He’s nervous because he wants to prove that it can be done in a short amount of time.
He has done it. He has seen his students do it all over the country. He knows it can be done. Here’s the thing, the fact that you feel uncomfortable about it means that you’re doing the right thing, because unless you’re pushing yourself– it’s so easy to just sit on the couch and not do anything. You’ve made a lot of money, you’ve inspired a lot of people, you could not go out there and do it. But the fact that you’re uncomfortable, you’re pushing yourself starting this again shows that you’re on the right path.
So, our hat is off to you. We don’t know that we would want to go back to the early days of when we were driving around without a system. But at least you have a system and a framework in place that you can apply tried and true to get put to good use. So, the app, the criteria, adding properties.
The second part of the course is reaching out to them, postcards and cold calling. There are other things that he doesn’t teach but his students have done well with. So, you can do things like door-knocking, text messages, emails, you can show up in their news feed and social media if they have a social media presence. You can do ring less voice emails. There’s lots of different strategies. But he just taught those two. They’re his favorite. They’ve been the most profitable across the country. And so those are the two he teaches.
Then the third step is hiring one person to automate the entire system for you, everything from driving and adding properties consistently, sending the postcards, buying phone numbers and skip tracing them and uploading them into your Mojo system. That’s the third step is just automating it
so, you can live your best life, whatever that looks like. For me, it’s inspiring and gives people permission to take control of their financial lives, to show them the American dreams still alive. That’s his life’s mission. And he has two children that he loves. He spends a ton of time with them. He spent a ton of time with his wife. He spent a ton of time in the mountains because he loves the mountains.
But you know everyone’s dream life is a little different. And we want people to be able to become the most beautiful person that they can and give as much back to this world as they can. And if you’re constantly just chasing a paycheck and you’re constantly worried about money, you’ll never be able to do things that can inspire a community, that can inspire a nation. But if you have the freedom of money, money’s not a burden anymore. You can do things like what one of our mentors is doing. You can inspire others to and do whatever is important to you. So, we love that. You inspire me.
This question comes up all the time, whether we publish something on social media. People say, look, I have no money, or I have very little money, and I just want to get started. This is how you do it. And then what I want you to do, though, is start taking the profit that you make from one of our mentors and start putting it into buy and hold properties, start turning those dollars into buy and hold rental portfolios. We asked one of our mentors to get us beyond this course now. And tell us where he is with that, what kind of assets is he holding onto, or is he in that process that you can start creating that cash flow and passive income from rental properties?
He answered, “Yeah.” So, through wholesaling, he had cherry picked. He had found some deals that had a signable contract on. And he could have sold them to other flippers or buy and hold investors. But he went, wait a minute, now there’s a ton of money here. He is going to keep a rental. And so, he picked up a condo not too far from here and his monthly payment on it was like $500 a month. He was renting it out for $1,050 a month, which is very good for Utah. We’re a pretty inflated market. It’s not a very good cash flowing market. But he picked that one up, seller finance actually with $2,000 down, which is absolutely crazy.
You can’t really do deals that good unless you’re sourcing them. So, he was able to pick that deal up. He held it for two years. And he just sold it. And never did any remodeling to it. He just rented it out as it is, sold it as is. He went to the house twice the entire time. And he made almost $90,000 profit when he sold it. And it was a fantastic deal. But he has picked up a bunch of rentals now and sold them with like rent to own options and made tons of money throughout the rental process and then cashing them out.
You can rent properties out for way more compared to the purchase price here in Utah. So a lot of the stuff he is doing in Utah He’s actually just assigning to flippers just because the rent to value ratios aren’t very strong here. So that is definitely a play. That’s wealth, that’s generational wealth. That freedom is having assets that pay you. The cash flow is great. And the space, there’s so much space. And it’s the number one landlord friendly state in the country too, which also is the nice bonus on top!
We hope this blog brings you as much information as possible to help you build financial intelligence so you can build financial freedom. Now go out there, become a real estate investor. We believe it’s the number one way to build wealth.
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