How to Make Millions in Real Estate | Phase 2: Track Record
Alright, my friend. Welcome back. In the last post, we started the conversation. How do you make millions of dollars in real estate?
And we talked about the right system that you want to leverage. In this post, we’re going to be shifting gears and we’re going to talk about how do you duplicate this thing so that it happens automatically with or without.
So, to make that happen, you need duplication. How do you duplicate your efforts? In the beginning when I started buying real estate, man, I was the one putting everything together.
So, I was tracking down the Realtors and helping find deals and then I had to engage the property managers.
My lease option system and the title companies and the lending team. And it was just kind of chaos. And I was the man. I was the glue, I was the central point. I want to share this with you. I want to tell you the story of the 3 amigos.
See, there was me and 3 of my buddies that came together. And they formed the original vision of my power team.
The first person I brought on was Steve Earle. And what Steve did? And Steve was my agent that actually proved to be the first one that could find me good deals all the time.
How to Make Millions in Real Estate Phase 1: Winning System
So, I said, “Steve, you find all the deals.” And then next I brought in my buddy Kev. And I said, “Kevin, you’re the loan officer.” I need you to get me loans on all the properties that we find.
He’s like, “Done.” And then I have brought my other buddy named Stephen. P-H, Stephen.
And Stephen did my property management. Or in other words, he would sell the lease options. Between me running this team right here, it is amazing how much real estate he could actually do.
And I remember when we got this party started, is that it was like every week that would find me a hot deal.
And I would say yes. And in the next blog post, I’ll tell you how I got all the money so I could buy a little bit in real estate.
But this is part of taking that winning system and creating duplication. So, Steve would find me these deals on a weekly basis. Kevin was prepared to write the loans on them. And Steven once I bought them, would do the property management.
Now, here’s what it meant. I didn’t need to find the deals anymore. I didn’t need to worry about getting the loans put in place. And meant that I wouldn’t have to do the property management which it was such a crazy relief.
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Building that team meant that I could go so much faster. Team together everyone accomplishes more right? T-E-A-M. And that’s what you want to be thinking when it comes to duplication. Today, I’ve built this to over 200 individuals that go into the very best markets.
Doesn’t matter where you live in the world. And I’m buying my partner’s the very best homes with 25% plus ROI. Like it’s insanely awesome. I absolutely love it. And so, I want you understand that duplication is really where you start making bigger money.
Because on my first deals, when I was doing all the work, on my first time, I made I think 65 grand. When I calculated how much time effort and energy I’d put into it, I was averaging probably 4-5 hundred bucks an hour.
Now, think about that. How many of you would like to work for 4- 5 hundred bucks an hour? It was awesome.
When I put this team in place, that bumped up to a couple of thousand dollars an hour. Today, my team is so big that I can bump that up now to tens and tens and tens and tens of thousands of dollars per hour.
I’ve even done deals where I’m making over $50,000 an hour. Would be that possible? Got to have the winning system. It’s all documented in my book. Single-family homes just like we talked about.
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The easiest way for newbies to get involved. And then next step is you got to start thinking about the value of your time and putting duplication in effect. Because once you duplicate, it means that you can go faster and prepare for the really exciting thing which is what I’m going to be sharing in the very next post.
The next blog post is all about how you go from 10 homes to 100 homes to over 500 homes.
And I couldn’t be more excited to share it with you because frankly, it’s the biggest secret that has bought me more financial freedom than anything else I have ever done.
But you need to have your system in place. You need to have your team a place for duplication. And once you’re all set with you, with the system and the team, I’m just telling you right now, you are ready to take off.
My partners, if you’re reading this blog post, in the next one, I’m going to be sharing with you how our partnership turns into expanded partnerships so that you can literally do unlimited real estate.