Or, become an Inner Circle Member and get much more...
Just like a seller will not give you free equity in their property our daily real estate investing training is not really free…. well, maybe it is… hmmm. Let me explain.
First, to become an Inner Circle Member you do need to pay $97 per month, but in many ways getting access to daily live training calls is like paying $100 to get $100, $500 or even $1,000 back. Let’s take a look at some examples of that.
Of course, there are a number of intangibles that have a value that is hard to measure. I’ll talk about that toward the end, but for example consider the following benefits of becoming a Inner Circle Member:
Access To Money For Your Own Deals
While you can bird dog and wholesale many properties with no money, how many deals could you do as a real estate entrepreneur without knowing how to finance the deals? Having the knowledge on how to find funding for your deals and how others are structuring financing for their deals means you can do deals that you might otherwise need to pass on. In a large number of cases, knowledge of financing can result in you doing deals that require no cash of your own and can be done without relying on your personal credit.
What would it mean to be able to do one extra deal per year for you from having access to this type of knowledge? Well, if you were to make $30,000 in profit on that particular deal that is a $30,000 lesson. Realize though that once your mind has been expanded you can re-use that knowledge to do one extra deal more frequently than just once or even more frequently than just once every year.
Over the course of a modest 20 year career as a Inner Circle Member and real estate entrepreneur doing just one $30,000 deal per year represents $600,000 in value on a membership investment of $23,280. That’s a pretty good return.
Learn To Stop Paying Junk Loan Fees
There are times when traditional financing can make sense, but most of the time it is not required for real estate entrepreneurs. Even with great credit if you are relying on new bank financing to buy properties you will hit a limit. Many of the strategies you’ll learn in our daily training do not rely on banks or using your personal credit in any way. For example, learning the correct, legal way to raise money from private lenders and from sellers via owner financing for your real estate deals could easily save you tens of thousands of dollars per year in junk loan fees not to mention improving your interest rates. I went out and got my license to be able to legally raise private money for my own business. It is easier than you think and something I talk about a lot on the daily training calls.
One a single $200,000 loan, you might easily pay $2,500 in junk loan fees including 1 point origination fee plus administrative and processing fees. If you are buying 1 property per month, that’s $30,000 per year–enough to support a small family for many people–in junk fees. If instead, as a Inner Circle Member you paid $97 per month for the entire year (that’s $1,164) and learned strategies for owner financing and private lenders and used those instead of traditional financing that’s a pretty good return. Of course, armed with that same knowledge you could save yourself over $28,000 per year for as long as you continue to buy properties.
Friends Don’t Let Friends Do Bad Real Estate Deals
Sometimes a deal just isn’t a deal. Sometimes you need to pass (or at least let the seller know what would be acceptable for you). Having daily, live access to discuss deals you are considering might just save you from making, conservatively, a $10,000 mistake. If you try to force yourself to do a deal that really isn’t a good deal for you, you could end up paying dearly for that mistake. A common mistake the newer real estate entrepreneurs make (and one that I focus on strategies for overcoming for our Inner Circle Members) is trying to make a non-deal a deal and that learning the hard, expensive way that it was not.
If by asking about your own borderline deals and listening to other deals that are discussed on the live calls you save yourself from making just one bad deal that would have cost you $10,000 you would have paid for your Inner Circle Membership for over 8 and half years and saved yourself some frustrating times and probably sleepless nights.
Overcoming Negative Cash Flow On Rental Properties
A majority of markets in the United States will have negative cash on rental property if you really do a true income and expenses calculation and you are financing all of the purchase price at retail. A large number will even have negative cash on rental property even if you are buying the property at a discount financing the entire purchase. There are however, very specific, achievable and easily implemented strategies for overcoming negative cash flow on your properties that work even when financing 100% of the purchase price. These strategies even work when you buy the property for full price. Actually, the strategies are a combination of things to do when you buy and things to do when you sell or rent and I teach them during the live training calls. If I can take just one rental property that you have and teach you how to improve cash flow on it by just $100 per month, that makes the entire Inner Circle Membership free to you. Where it really becomes profitable is when you apply it to every house you buy, sell or rent.
Negotiating Strategies
Negotiating is said to be one of the highest paid professions. Where else can you, with just a few simple sentences lasting no more than a minute alter the price and terms of a transaction that saves you hundreds, thousands or even tens of thousands of dollars or more. That’s one of the things we talk about and go over in the daily training calls. With some knowledge (maybe even just reminders of what you already know) and some encouragement, you could be seeing returns that are multiples of the monthly investment in your Inner Circle Membership.
In fact, getting just one zero interest loan (something I talk about a lot on training calls) from a seller could save yourself hundreds of thousands of dollars in interest payments over the life of the loan on a single $250,000 property. Check out the amortization table of a typical loan for $250,000 and see just how much you would have paid in interest. For a $250,000 loan for 30 years at 7% interest you would pay $348,772.25 in interest (not including the $250,000 to actually buy the house). Learn negotiation strategies on how to do it and make that as an offer when you’re out buying properties. Even if just one in your lifetime says yes, you’ve paid your membership fee for your lifetime, your children’s lifetime and, yes, even your grand-children’s lifetime: a total of almost 300 years of membership on just one deal.
Or, aim to do one of those deals a year and change your family tree’s financial situation forever for the positive.
Marketing Tests Cost Time, Missed Opportunity and Money
Marketing costs time and/or money. Testing marketing may result in missed deals. Wouldn’t it be valuable for me to share with you the types of marketing I am doing, the results I am getting, what worked, what did not work and strategies for improving your results and reducing expenses to give you a better starting point for your testing? How valuable this information is to you is largely dependent on how much marketing you’re doing. It is at least worth the amount of money I spent on the marketing to get the results I can share since you’d have to pay that much to see the results. I can assure you that I spend more than $97 per month (the cost of your monthly Inner Circle Membership) plus time invested in getting the marketing ready and out. So, the training and consulting is really a free add-on to the marketing results data.
Contract Knowledge
Real estate contracts can be complex. Many agents don’t even know what they’re filling out. I am convinced that even fewer real estate investors do. I’m going to change that.
While I realize that sometimes learning contracts can be dull and boring, I am committed to helping you understand your contracts better. What I will be helping you with will not replace your need for an attorney… you MUST have access to your own legal team as a business owner and especially a business owner in the complex real estate business. But, I will help you understand the paperwork like no one has ever done before in bite sized pieces… a little bit here, a little bit there… so that you’re not dreading it. As Mary Poppins would say, “a spoonful of sugar helps the medicine go down”. If learning the paperwork is the medicine, the sugar and advantage I have is the ability do daily training. Since it is daily I can cover fun, interesting stuff for 55 minutes and then throw in a “contract tip” for 5 minutes making it much more palatable. You’ll get the knowledge without falling asleep to me teaching you contracts for 4 hours straight.
A few swipes of the pen on a contract can make you thousands or cost you thousands. It helps to know what you’re doing and why.
Improved Follow Up Systems
Did you know that proper follow up will actually double the number of deals you’ll do as a real estate entrepreneur? Yes, that is correct… you could do half as much marketing with proper follow up and do the same amount of business or do twice as much business with your current marketing if you just did proper follow up. The strategies, systems, tools and mindset that we cover in the daily training calls as we cover various areas of the real estate business will help do three things: teach you what to do, remind you to do it and encourage/motivate you to do what you know you should in regards to follow up.
If you are currently making $100,000 and with improved follow up you could be doing $200,000 well the $97 per month for your Inner Circle Membership could be worth $100,000 to you. Or, if you decide to cut your marketing cost to do the same amount of business you might be saving thousands of dollars to do the same amount of business.
Improved Sales Skills
Let’s say you make 15 seller presentations per month or 180 per year. Let’s also say that you are buying about 1 property for every 15 sellers that you make your presentation to. If, through approximately 200 daily, live training sessions per year I can improve enough parts of your sales presentation, tweak and improve your sales skills so that you are doing just 10% better overall, that would mean that for the exact same amount of money in marketing, the same amount of time doing presentations, the same amount of time doing research you would actually close on at least one more deal.
What’s an extra deal worth to you? Maybe an extra $30,000 if the deals you are doing are structured like a teach.
Consulting With James
I do offer one-on-one consulting to real estate entrepreneurs and business owners and I have literally doubled the income in businesses that I have done consulting for. The price I charge for personal, one-on-one consulting is $525 per hour once I determine that I can actually help and provide value that will far exceed what you’ll pay me. The great thing about the live, daily training calls with Q&A is that it really is an opportunity to you get the value of $525 per hour for about 20 hours per month (that’s about $10,500 per month in consulting time) except you’re only paying $97 per month. How does that work? The other people listening are also helping to pick up the bill by each paying $97 per month. Since we are talking to real estate entrepreneurs about challenges and strategies that are common to almost all real estate entrepreneurs there is tremendous value to everyone.
By blocking out the time everyday to do the live calls and not answering separate individual emails or separate individual phone calls, I can keep the Inner Circle Membership fee low and give amazing value to all those on the call and listening to the recordings.
Of course, if you need more one-on-one consulting outside the normal live call time, you can sign up for that as well.
Training For Your Bird Dogs, Wholesalers and Staff
I strongly recommend that you supplement your own marketing investment and efforts with finding local bird dogs and wholesalers to bring you deals. Some will be experienced and be able to find you deals without your help, but there is a much larger pool of bird dogs and wholesalers that are not experienced but with a little education could be great on-going sources of deals for you. But, how do you train them?
Well, one way you could do it is to sit down with them individually and teach them the bird dog or wholesaling business. I’ve been there and done that and it can be very rewarding but also very frustrating and time consuming especially when you invest time to training someone only to find out that they decide to work at the local grocery store after you invested a full day training them with the hope that they’ll find you deals. Not a good use of your time and money.
You could send them a link to download my free download bundle (the link to give them is http://LearnToBeRich.com/free ) that teaches the basics of bird dogging and wholesaling. That’s probably a good solution for most of the new people.
You could also refer them to become a paying member of the Inner Circle Membership and let me provide comprehensive training for them. Let me answer their questions. Let me provide them with the checklists and forms they need. Let me know work with them on their sales skills and presentations. Let me teach them deal analysis and deal structuring. Let me hold them accountable, motivate them, encourage them and expand their beliefs. And all of this at no cost of time or money to you. In fact, if you sign up for our affiliate program (link is located in the Inner Circle Members Only Resources you can even earn money by referring others. Refer three paying Inner Circle Members and you end up making about $20 per month instead of paying $97 to be a member.
Buying And Creating Forms, Checklists and Systems
Here’s an example… you come up with this great idea for saving money on your property insurance. You’re going to create a form that you can fax to different insurance companies to request a quote for all your properties. If you can save just 10% on your insurance by doing this with your portfolio of 20 investment properties you could be saving $1,600 a year… that would more than pay for your Inner Circle Membership at $97 per month.
Ok… so, it is time to create the form. If you’re good at creating forms, it might take you an hour or two to create the form. If you’re not good at creating forms, it might take you 10 hours if you can do it at all. Even at a nominal hourly wage, creating a a few forms like this and other organizational or management tasks a month can add up quickly. Why not use my forms instead? As a Inner Circle Member with the new live and archived calls, I will be including a download of the forms I discuss in the members only resource section for the call saving you the time and headaches of creating them from scratch.
In fact, if you can think of a form that I don’t have that I should make for my own business and the other Inner Circle Members, I’ll make it or have it made and give it to the Inner Circle Members as well saving you even more time and money and improving all our businesses.
You can think of it as getting a group of your friends together and saying, “I want to make this form or checklist or whatever… let’s all chip in and have it done and we can all use it.” Your $97 membership fee is you chipping in to get access to my systems, checklists, forms and training at a fraction of what it would cost to do yourself.
Hidden Profit Centers In The Business
From time to time as I am teaching a particular topic on a live call I will share with you hidden profit centers in the business that could more than pay for your monthly Inner Circle Membership. In fact, some of them can be substantial revenue streams for you that run parallel to the profits you make as a real estate entrepreneur. Some that you I’ve mentioned are things like our affiliate program and recommended the Inner Circle Membership to the bird dogs, wholesalers, investors and entrepreneurs you come into contact with as you build your buyers list, buy, sell and rent properties and network. Another is referral fees to agents (license required) on properties you are not buying (that’s usually about 9 out of 10 properties anyway… you might as well get paid on those too). There are quite a few more that occur to me as I teach certain topics.
Personal Accountability For Real Estate Entrepreneurs
What would it be worth to have someone committed to meeting with you for an hour a day to remind of the promises you made to yourself that will move you toward the goals you’ve set and to prompt you to ask yourself what you plan to do today to move toward your goals? Even the best athletes in the world have coaches to remind them of the things they already know they should be doing. With many of the daily live training calls we take a few minutes to remind ourselves of the promises we’ve made to ourselves.
Moving Past Fear
Many real estate bid dogs, wholesalers and entrepreneurs face the fear of moving outside our comfort level. Yet, we need to move outside our comfort level to grow. A definition of insanity is doing what you’ve always done and expecting different results. There is a power–that can be used for good or bad–from being part of a group. Why not use the power of being part of the group to gain the confidence to act in spite of fear? Our daily training and accountability calls gives you the technical knowledge to feel more confident and the group pressure to act with your fear, to act with faith and to do more than you might do on your own.
Expand What You Believe Is Possible
We get what we expect and not what we deserve. Psychologists over and over have proved that our expectations are more important than deserving. Roger Bannister pushed the limits of our belief when he ran a mile in less than 4 minutes. That all changed when Bannister with different beliefs, slightly different training and a group of quarter mile sprinters broke the magical 4 minute mile threshold. What’s the power of expectation and expanded beliefs? Since Bannister over 234 people in the United States alone have run miles with official times less than 4 minutes. Having access to others like other Inner Circle Member with beliefs that are expanded from yours helps you grow and see that you can achieve more than you thought.
Outrageous Claims You’ve Probably Heard
In closing, let me talk to you about making claims that you can make an outrageous amount of money as a real estate bird dog, wholesaler, entrepreneur or investor. You may see other real estate guys telling you that their student made a gazillion dollars on their first deal (and you can too). If that’s what you’re looking for, that’s not my style and you won’t be happy with what I have to say. Are there people that I’ve taught that have gone on to do well? Sure, but there are the majority that I’ve taught that did absolutely nothing. They bought courses, attended live events, got great value, were educated, were entertained, were excited and then the next day… well, they did not do anything. Many showed up at the next live training or bought more courses.
Trust me, it was not because the info was not amazing. Not because it doesn’t work. It is because the typical person is not willing to take action. So, the typical person will do… nothing. That’s one of the reasons why I want to commit to you and have you commit to me that we are going to lock arms and work on this together, daily via the live calls. If you commit and I commit, we can keep at it together working on you, your business and take action, get feedback, make changes and keep moving forward and growing toward achieving the goals you’ve outlined for yourself.
People that go to therapy don’t go for a month and instantly change. It is a process and takes time and commitment. Let’s do it together. Become a Inner Circle Member now.
Download an audio training about the benefits of our training:
Inner Circle Membership - Daily, Live Training for Bird Dogs, Wholesalers, Real Estate Investors and Real Estate Entrepreneurs with Q&A and consulting and more.
Or, become an Inner Circle Member and get much more...
Great news! Now that we have finally made the transition to the new Inner Circle Membership I can start to get caught up with posting up the new episodes of the daily recorded training calls with live Q&A and group consulting.
All Inner Circle Members get access to this call recording which was recorded on August 4th, 2010 (and currently approximately 61 hours of training calls) right from the Members Only Resources page. In fact, even though I have not yet posted the following episodes as blog posts they are all currently available for download from the password protected Inner Circle Members Only Resources. If you are a member and are logged into the resource page, you can use the following links as short cuts. You will be promoted for a login/password if you are not logged in. Inner Circle Members are issued a login and password to access these (and other) archived recordings and the new live shows which start up again on Monday, August 30th, 2010 after I return from the seminar I am attending starting tomorrow.
- Download 2010-08-04-TJOS.mp3
- Download 2010-08-05-TJOS.mp3
- Download 2010-08-06-TJOS.mp3
- Download 2010-08-09-TJOS.mp3
- Download 2010-08-10-TJOS.mp3
- Download 2010-08-11-TJOS.mp3
- Download 2010-08-12-TJOS.mp3
- Download 2010-08-13-TJOS.mp3
- Download 2010-08-16-TJOS.mp3
- Download 2010-08-17-TJOS.mp3
- Download 2010-08-18-TJOS.mp3
- Download 2010-08-19-TJOS.mp3
- Download 2010-08-20-TJOS.mp3
Each one of the recordings above is about an hour long and I will be describing what is on most of them as individual blog posts for easy reference later.
I am very excited about the new format and what I can do with the new format that I could not do before as we work with Inner Circle Members that are really committed to their business.
Of course, if you’d rather pay for individual episodes instead of getting access to all of them as a Inner Circle Member, you can purchase The James Orr Show – Episode 2010-08-04.
Until my next post,
James
Inner Circle Membership - Daily, Live Training for Bird Dogs, Wholesalers, Real Estate Investors and Real Estate Entrepreneurs with Q&A and consulting and more.
Or, become an Inner Circle Member and get much more...
This episode of The James Orr Show contains the following:
- First, James talks a little about what todays episode is going to be about, and explains what he will be doing on the fiftieth episode.
- To start the show, James recommends some resources that would be helpful to a new wholesaler. First, he suggests local wholesalers to attend the local investor meeting near them. If you live in northern Colorado, you can attend the Northern Colorado Real Estate Investor Group, which is run by James. Another resource he recommends is the free downloads on the Learn To Be Rich website as well as the Wholesaling Articles, which include dozens of articles, videos, and free downloads. James also reminds listeners that there are many articles on the Learn To Be Rich website
- James also answers a few question regarding some of the free downloads.
- Another resource James recommends is libraries and bookstores, as well as audio courses.
- After going over the resources, James discusses the steps of wholesaling and talks a little about how much money you can make with each deal. While going over how much money you can make wholesaling, James references an episode where they discussed the money you can make per year wholesaling.
- Next, James explains how wholesalers find deals. James talks about why you don’t want to start wholesaling MLS deals, but does talk about ways to wholesale from the MLS if you decide to. James also discusses other ways, particularly outbound marketing like postcards.
- On the topic of marketing, James explains the difference between lazy and poor marketing methods.
- In addition, James discusses what he wants as a buyer for local wholesalers.
- After discussing what James wants in a deal, James talks about analyzing deals.
- Next, James explains what to do when meeting with the seller, as well as the logistics of wholesaling deals. Lastly, he discusses some estimates of wholesaling fees for certain deals.
This show is now available as a digital download: The James Orr Show – Episode 2010-08-03 or get access to all future live episodes, consulting during the calls and many of the previously recorded episodes as an Inner Circle Member.
Inner Circle Membership - Daily, Live Training for Bird Dogs, Wholesalers, Real Estate Investors and Real Estate Entrepreneurs with Q&A and consulting and more.
Or, become an Inner Circle Member and get much more...
This Monday episode of The James Orr Show contains the following:
- First, James discusses what today’s episode, and future episodes will contain.
- Next, James talks about several of the resources that help bird dogs. First he suggests joining the local Real Estate Investor Group Meeting if you live in northern Colorado. James also recommends looking in to the Wholesaling Articles, which can help a bird dog decide whether or not he is interested in wholesaling. He also recommends looking at the articles on the Learn To Be Rich website. Some other resources he suggests are libraries and bookstores, as well as audio courses.
- After talking about resources you can use, James discusses the steps of bird dogging. After the steps, James talks about the money you can make as a bird dog.
- Then, James discusses what you will be doing specifically, and how much time it should take. He also talks about using the MLS as a Bird Dog, and which properties are worth looking in to on the MLS, and talks about other ways to find properties.
- James also reminds bird dogs that you want to know what your investor wants in a deal. James goes over what he looks for in a deal for local bird dogs to refer deals to him.
- James also discusses what reasonable prices are for certain deals.
- Lastly, James introduces tomorrow’s topic: Wholesaling, as well as answers some listener questions.
This show is now available as a digital download: The James Orr Show – Episode 2010-08-02 or get access to all future live episodes, consulting during the calls and many of the previously recorded episodes as an Inner Circle Member.
Inner Circle Membership - Daily, Live Training for Bird Dogs, Wholesalers, Real Estate Investors and Real Estate Entrepreneurs with Q&A and consulting and more.
