How to Make Money in Real Estate Without Being an Agent
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How to Make Money in Real Estate Without Being an Agent


Yo whats up guys? It’s Eli with Mind
Muscle and Money, and today i’m giving you our first-ever financial Friday
video.
In these videos on a weekly basis, I’m going to be dropping financial tips
for you guys.
How to get rich how to create your own wealth. How to make money now and learn how to
budget now so that we can have financial freedom later guys.
It’s all about the hustle the grind the side hustle. Your 9 to 5 isn’t going to make you rich. Okay, that’s
up to you to do outside of the 9 to 5. So if you’re working your 9 to 5
and you’re coming home thinking that your job is done, you’re wrong and you’re in for a rude
awakening because really the work should be just starting so what I’m going to do is I want to
show you guys basically how I’m getting started on my path to financial freedom
and how you can do the same because it’s not as hard as it seems it just takes a
lot of patience perseverance and a lot of positivity and a lot of action ok so if you can accomplish those four
things no matter what you will become successful you can create however much money you
decide to create it’s just about patience and persistence and being
positive ok so when I first started really
thinking about money was about only about three years ago it’s about 27
years old and really the catalyst to that was when i asked my i propose to my
girlfriend at the time and really that is what kind of kind of kick started
this fire inside of me like okay man you have a woman to care for your going to
be having a family that you need to provide for your personal training just
isn’t going to cut it anymore up to that point all my time had been
spent studying exercise nutrition training philosophies you know I was obsessed over that stuff
like a lot of you guys are and should be for the time being but I was neglecting
another huge area of my life and that was my financial knowledge and I really
just didn’t know how to make or save money you know it came in and it went out it
came in and it went out at a full-time schedule as a personal trainer 10 hours
a day with clients I was making okay money but I wasn’t
holding on to it because I just didn’t have the financial knowledge. so i
knew i had to switch things up and shift gears the training stuff I knew I put
that on autopilot okay so get my workouts in it didn’t it doesn’t mean i
took my focus off of that it just meant that that was on autopilot and i had to
put more attention on something else ok and i encourage you guys to do that
now I like i said i think it starts to us 27 but the younger you guys can get
started on paying attention to your finances and saving and creating money
the better off you’re going to be in a lot of you guys can get a much greater
head start on me so when I started doing is of course i’m
on youtube just like you guys are now and i
stumbled across one of rich beyond this videos and I love his channel and I had
always been curious because you always see all this cars in this house it looks
like an episode of MTV Cribs but I’m like dude is not making that doing
bodybuilding and personal training is just not so I was going to his channel
in here this video on there called how I make my money and I clicked on that and
that’s when really everything opened up for me so on this video he mentioned how he had
taken I think money from graduation and he had
purchased his first he purchased a home with it and how long before for a couple years
built up some equity and then sold it took the equity and he bought another
duplex or apartment complexes or something and basically kept doing that getting
into a bigger and bigger properties and he said in the video he said I could not
work another day the rest of my life and I would be just fine because all my
properties are making me money it’s called passive income will talk
more about that later so anyways I started saying more successful people
and it really seemed like all successful people had and millionaires
multimillionaires had their foot in real estate and one way or another now I knew I didn’t want to be a real
estate agent ok I just the last thing i want to do is have another boss in you
know your clients your boss and that’s the last thing I want is to spend my
weekends driving in a car showing really picky people these
properties and I just knew I didn’t want to do that so I started searching for
other avenues to make money in real estate and i stumbled across about
real estate investing sites one in particular bigger pockets . com and the bigger pockets podcast and I
just started listening to that and reading the forums and just like
anything when you need to be successful what do you want to be successful in
something you need to become obsessed with it so I spent the next three to six
months this was in October 2014 and just learn real estate
learned real estate listen to these podcasts I didn’t know what terms they were using
I didn’t know any of that stuff I just kept listening it to absorbing the information
and then pretty soon it kind of started understanding the lingo and there’s a
strategy and real estate that I want to tell you guys about because when you
look at like flipping houses also i wanted to get into doing when you look
at flipping houses you immediately think okay I needed by these houses with cash I barely have twenty dollars in my bank
account now so how can I buy a house for cash and then the amount of money that
it cost to fix up these properties and do the actual rehab again I literally had no money no money in
savings no nothing left after my bills every month so I stumbled across real estate
wholesaling and basically what that is it’s the most brilliant idea and real
estate ever and i encourage everyone out there to really start learning see if
it’s something you’re interested in because this is a very very very I don’t want to say easy but once you
learn how to do it the possibilities are endless with the
amount of money that you can bring in so well real estate wholesaling is
basically where there’s a motivated seller ok someone wants to sell their home when
I say motivated I mean they need to sell their home this isn’t the regular person that’s
just going to be listing their house on the market and can wait 60 days for
it to sell this is somebody who let’s say they inherited a property for their
mother from their mother who just passed now they have two mortgages to pay for
and they can’t afford two mortgages so they need to sell this house like as soon as possible chances are mom
has all our stuff still in there they can’t even afford to get her stuff out so basically you have a motivated seller
and then you have a person who flips properties ok there’s a ton of investors out there
the flip properties you have those two people what your job is a real estate
wholesaler is to find the seller a motivated seller negotiate a price with
them I’ll go over in another video how to
work that calculation negotiate a price with them get the house under contract ok under your name your llc’s name once
it’s under contract say the closing is 30 days from now have 30 days before you
have to close on the house you take that contract you turn around
and you sell the contract to an end buyer or someone who’s actually going to
be flipping on the house so your middle man you do marketing you
have your website up you do direct mail you make phone calls you knock on doors
you hustle, you grind you do whatever you need to do to find these motivated
sellers not as hard as you think it’s not easy but it’s not as hard as you
think get the house under contract sell the
contract to an end buyer you can just put the house on craigslist
you can do you go on meetup.com there’s a lot of real estate meetup groups those are all house flippers go to one
of those you can send the contract their average profit on a real estate
wholesale contract is going to be anywhere from ten to twenty thousand
dollars yes ten to twenty thousand dollars for
literally having one person signed a piece of paper and then finding someone
else and have them sign that piece of paper selling the contract to them genius business model guys now how I did
my first deal let me the story on that and then I’ll stop this video we’ll go
into more detail in further videos down the road but I just want you guys to
hear how I did my first deal because a pretty cool story so how this worked I didn’t have any
money for direct mail I didn’t I was too scared to pick up the
phone and call people so really my options were minimal for
trying to find a seller but the one thing that I was comfortable with was
Craigslist so what I started doing with craigslist
was I would which is on it every day I go check multiple times a day scroll
through the for sale by owners and see what the new listings were and just read
through and see if I could establish some sort of motivation from people
there I stumbled across this ad that said for
sale by owner I’m moving in two weeks my tenants just
left it was a it was a landlord who had this home is tenants just vacated and he
was moving to florida in two weeks and he had the house listed for 220,000 so I
called my buddy Sterling he’s my business partner and we
are just kind of learning this all together we hadn’t done a deal yet I was working at the office I couldn’t
get out I call the seller from the ad set up the appointment it was maybe two hours after he can put
on craigslist call my partner Sterling I ran some quick numbers and I said
Sterling we have to get that in this house four hundred eighty thousand
dollars that’s the most we can pay on this go over there this guy needs to
sell in two weeks see what you can do, ok So he got even over the guys house and
went through it and Sterling is very good working with people and he was
shaking hands with the guy at 170 a hundred seventy thousand dollars they
were mid handshake while their mid handshake real estate
agent who is also looking at the house to this clients comes out and they offer
two hundred twenty thousand dollars to the seller ok is full asking price so here we are
we have our price of a hundred seventy real estate agent comes out offers 220
now Sterling being the sales guy that he is and again just hustlers mentality guys
you have to learn how to take a leap of faith tells him will give you a hundred
eighty thousand dollars will close with cash seven days guaranteed and again the guy
needed to close the guy needed to move in two weeks so he could do a
traditional closing and the real estate agent with the seller is buyers they
were just getting a traditional mortgage so it was going to take a good 30 days
for them to be able to close on the property so naturally the guy took our deal shook
Sterling’s hand signed a contract for 180,000 now we don’t have any buyers that we can
sell this to we don’t know any house flippers nor do
we have any cash that we can actually close on this in seven days so it’s time
to hustle right this is our big leap of faith so what we
did is we started thinking like okay so who do we know that wants to buy this
house well instantly we thought okay well this
real estate agent made an offer for 220 thousand dollars they want to buy the
house there’s our buyer so what we did is I got a line we didn’t
have the agents business card or anything like that we just his first
name so we gotta go only typed his first name
denver real estate agent we came up with like five guys who went
under images came up with all these guys pictures and we picked him out who he
was got his contact information that way and
what we did was we called him and the next day and we said hey we’re the
investors that bought this house from underneath you yesterday if your buyers
are still interested of doing 220,000 we’ll close on this house in a week and then we’ll sell it to you guys and you can
have the house that you wanted they were ecstatic they accepted our
offer and we got the contract signed ok so now we have two contract signed one from the seller to us for a hundred eighty thousand dollars and then we have
another Sale contract from us to the end buyer for two hundred twenty thousand
dollars great spread there but there’s still a big problem it’s we have to close
on the house on a traditional wholesale deal you would simply take the contract
assign it to the other person just with another contract and then you’re out of
it you don’t need to actually come up with money to close on the property in
this particular case we did so now our problem is we don’t have any money to
close on this house in seven days so we just start thinking like okay who
has some money that can help us out I thought of this one guy who are very
good friends with now and he was the client of another trainer at the gym
that I work at called him up we’ve never done business together at
all but I know he’s a businessman and investor and I they they like numbers
and they like their risk minimalized so I called him and I said hey man we have a contract for 180,000 for us to buy this house I said we have another contract signed for
two hundred twenty thousand dollars for us to sell the house if you can lend us that 180 thousand
dollars to close in a week we’ll split the profits with you 50-50 ok he is like send me the contracts sure
sounds like a great deal so what we did was we send the contracts he’s like okay send me the wire
information it looks like a good deal he’s going to walk away with 20 grand
working walk with 20 grand that’s exactly what happened guys we
close on the house of seven days we held on to it for 30 days until the other
buyers mortgage could go through and their loan can get approved sold it to them in the same condition we
bought it we actually went in and remove some junk and cleaned up a little bit just
to be nice but sold it to them pretty much just how we bought it and between us and our Investor we both
walked away with twenty thousand dollars the most I’ve ever made any point guys
was like twelve hundred dollars from my clients by sessions for me so dominated shortest video up here I
know it’s already been pretty long but I just want to share to you guys that story and show you how I literally had no experience no connections nothing guys just by learning and
studying and just not being scared it in this business guys in to create wealth
and success you just you have to have balls you have to have the balls of faith what
if you want to call it you have to be willing to take that leap
and figure it out as you go so boom! we made twenty thousand dollars from
that point we finally had money now that we could do marketing for more deals you know we pay ourselves a little bit
but put the rest of it back into the company and now we’re flipping houses
like crazy guys were flipping houses were doing two to four houses a month
right now and this is not even a full year into our business so that first
steal it took me like i said it’s october two thousand fourteen started
learning it was not until june of 2015 that I partnered up with Sterling and we
really started actually taking action so I had to educate myself for you know
a good six months, six-seven months educate yourself learn enough to have a
conversation with somebody about real estate to talk to a real estate agent
not sound like a total idiot just enough to have a conversation with
somebody about it and then take action guys but I mean that was me no
connections no experience nothing made 20 grand on our first deal so this is what exactly what you guys
need to be focusing on when you’re not in your 9 to 5 ok stay up late work on the weekends for
yourself studying learning, studying learning
constantly guys I’m gonna end this video but i will come out more videos that
describe the detail of this deal and how to run your calculations how to market for motivated sellers this
is something I’m very passionate about guys, it is so easy to do it just takes some
hustle some education and some balls alright so I hope you guys like these
financial Friday videos give me some feedback on them let me know what you
guys want to see I don’t want this just to be a fitness channel this is a channel about motivation
mindset fitness finances just creating the life of your dreams guys I’m not
kidding anyone can do it I’m not just trying to
pump you up I’m a regular dude I’m doing this stuff you can too all right I’ll catch you guys

10 Comments

  • mer meh

    My brother does something similar. He finds someone that needs to have a website built and contacts them, after that he pays a programmer cheap money to create the site and all he has to is collect the profits. I think the internet has made it possible for lazy people to get rich

  • Lappin Export Import Business

    Thanks so much for this video..Great starter and succesful flp deal…question: when you signed the contract with the house owner was necessary to deal with an attorney?

  • Paul Argueta

    Great information. The key is executing and taking action. Too many people watch and do little to nothing with the information.

  • Gallant Gamer

    You had a friends connection with that type of money…..sometimes we dont have friends like that…should I look for investors who would invest with me with no money at all? and no experience? no matter how I hustle? lol just asking

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