Business
Jon has a plan. He wants to make a difference in this world. He’s devoted years of his life to help those in need where he lives. Unfortunately, all dreams, even the most selfless ones, need funding to operate. After circling around the real estate industry for years, Jon’s back at it again, with the intent to make some money as well as position himself to make an impact in his community for decades to come. Of course, no goal is ever complete without its struggles. There’s no doubt that the process of contacting sellers takes its toll on many investors, including Jon. Thankfully, Ryan knows some ways to ease that stress. Additionally, Jon has a mountain of resources right under his nose that he hasn’t taken full advantage of yet, all in Investor’s Edge. In today’s episode, Ryan’s going to show Jon what’s under the hood with Investor’s Edge instead of just the fancy paint job. The world is in need of more people like Jon who want to give back to the communities they live in and are willing to put in the work to make it happen. Specifically, Jon runs his own non-profit, helping children with fractured backgrounds express themselves through performance art. After hearing his story, you can’t help but want to see Jon succeed. The question is “How is real estate going to get him there?” This week’s Coach’s Corner is packed with tons of tips on some of the leading real estate investment strategies, specifically the BRRR method and financing options with good and bad credit. Here are some of the other topics you’ll hear about in today’s episode: The multitude of ways to contact owners. Building a list of contacts. The concept of “skin in the game.” Why credit matters for BRRR. The “1% Rule” “If your credit is not great...I really recommend you start working on some credit repair. The cost you have to pay to do something like that, you’ll more than save in points and interest when you’re doing deals.” —Ryan G. Wright Podcast Summary: 0:00 - Podcast Introduction 1:10 - Learning about Jon and how he got to this point in his life. 6:49 - What drives Jon to get more out of his life. What is his “why?” 10:40 - The obstacles in Jon’s way and how he is going to overcome them. 12:21 - Skip tracing: the underrated tool of the savvy investor. 14:33 - All the things you can do with Investor’s Edge within minutes. 15:27 - Jon’s unfortunate experience with knocking on doors. 16:59 - Ryan’s alternative to speaking to owners directly: voice broadcasting. 17:42 - Building a master list using hyper-targeted Investor’s Edge filters. 20:31 - Putting your own “skin in the game” to minimize lender risk. 22:00 - Combining different forms of financing to land “base hits” instead of looking only for “home runs.” 22:44 - The impact of your credit score and how credit repair can make a huge difference in the long run. 23:58 - Diving into the BRRR strategy and seeing if it’s a smart tactic for Jon’s situation. 29:31 - Jon talks about how today’s coaching has opened his eyes. 31:12 - Which would I rather spend to find properties, my time or my money? 31:46 - Target marketing vs broadcast marketing. 32:48 - Using the “1% Rule” to gauge future returns on a rental property. 33:34 - The ethics of setting and raising rents in blue-collar areas. 36:05 - Big picture strategies and wrapping up with Jon.