How To Make Money As A Real Estate Agent

yo whats up guys? it's eli with mindmuscle and money, and today i'm giving you our first-ever financial fridayvideo. in these videos on a weekly basis, i'm going to be dropping financial tipsfor you guys. how to get rich how to create your own wealth. how to make money now and learn how tobudget 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'sup to you to do outside of the 9 to 5. so if you're working your 9 to 5and you're coming home thinking that

your job is done, you're wrong and you're in for a rudeawakening because really the work should be just starting so what i'm going to do is i want toshow you guys basically how i'm getting started on my path to financial freedomand how you can do the same because it's not as hard as it seems it just takes alot of patience perseverance and a lot of positivity and a lot of action ok so if you can accomplish those fourthings no matter what you will become successful you can create however much money youdecide to create it's just about

patience and persistence and beingpositive ok so when i first started reallythinking about money was about only about three years ago it's about 27years old and really the catalyst to that was when i asked my i propose to mygirlfriend at the time and really that is what kind of kind of kick startedthis fire inside of me like okay man you have a woman to care for your going tobe having a family that you need to provide for your personal training justisn't going to cut it anymore up to that point all my time had beenspent studying exercise nutrition training philosophies

you know i was obsessed over that stufflike a lot of you guys are and should be for the time being but i was neglectinganother huge area of my life and that was my financial knowledge and i reallyjust didn't know how to make or save money you know it came in and it went out itcame in and it went out at a full-time schedule as a personal trainer 10 hoursa day with clients i was making okay money but i wasn'tholding on to it because i just didn't have the financial knowledge. so iknew i had to switch things up and shift gears the training stuff i knew i putthat on autopilot okay so get my workouts in it didn't it doesn't mean itook my focus off of that it just meant

that that was on autopilot and i had toput more attention on something else ok and i encourage you guys to do thatnow i like i said i think it starts to us 27 but the younger you guys can getstarted on paying attention to your finances and saving and creating moneythe better off you're going to be in a lot of you guys can get a much greaterhead start on me so when i started doing is of course i'mon youtube just like you guys are now and istumbled across one of rich beyond this videos and i love his channel and i hadalways been curious because you always see all this cars in this house it lookslike an episode of mtv cribs but i'm

like dude is not making that doingbodybuilding and personal training is just not so i was going to his channelin here this video on there called how i make my money and i clicked on that andthat's when really everything opened up for me so on this video he mentioned how he hadtaken i think money from graduation and he hadpurchased his first he purchased a home with it and how long before for a couple yearsbuilt up some equity and then sold it took the equity and he bought anotherduplex or apartment complexes or something and basically kept doing that gettinginto a bigger and bigger properties and he said in the video he said i could notwork another day the rest of my life and

i would be just fine because all myproperties are making me money it's called passive income will talkmore about that later so anyways i started saying more successful peopleand it really seemed like all successful people had and millionairesmultimillionaires had their foot in real estate and one way or another now i knew i didn't want to be a realestate agent ok i just the last thing i want to do is have another boss in youknow your clients your boss and that's the last thing i want is to spend myweekends driving in a car showing really picky people theseproperties and i just knew i didn't want

to do that so i started searching forother avenues to make money in real estate and i stumbled across aboutreal estate investing sites one in particular bigger pockets . com and the bigger pockets podcast and ijust started listening to that and reading the forums and just likeanything when you need to be successful what do you want to be successful insomething you need to become obsessed with it so i spent the next three to sixmonths this was in october 2014 and just learn real estatelearned real estate listen to these podcasts i didn't know what terms they were usingi didn't know any of that stuff i just

kept listening it to absorbing the informationand then pretty soon it kind of started understanding the lingo and there's astrategy and real estate that i want to tell you guys about because when youlook at like flipping houses also i wanted to get into doing when you lookat flipping houses you immediately think okay i needed by these houses with cash i barely have twenty dollars in my bankaccount now so how can i buy a house for cash and then the amount of money thatit cost to fix up these properties and do the actual rehab again i literally had no money no money insavings no nothing left after my bills

every month so i stumbled across real estatewholesaling and basically what that is it's the most brilliant idea and realestate ever and i encourage everyone out there to really start learning see ifit's something you're interested in because this is a very very very i don't want to say easy but once youlearn how to do it the possibilities are endless with theamount of money that you can bring in so well real estate wholesaling isbasically where there's a motivated seller ok someone wants to sell their home wheni say motivated i mean they need to sell

their home this isn't the regular person that'sjust going to be listing their house on the market and can wait 60 days forit to sell this is somebody who let's say they inherited a property for theirmother from their mother who just passed now they have two mortgages to pay forand they can't afford two mortgages so they need to sell this house like as soon as possible chances are momhas all our stuff still in there they can't even afford to get her stuff out so basically you have a motivated sellerand then you have a person who flips properties

ok there's a ton of investors out therethe flip properties you have those two people what your job is a real estatewholesaler is to find the seller a motivated seller negotiate a price withthem i'll go over in another video how towork that calculation negotiate a price with them get the house under contract ok under your name your llc's name onceit's under contract say the closing is 30 days from now have 30 days before youhave to close on the house you take that contract you turn aroundand you sell the contract to an end buyer or someone who's actually going tobe flipping on the house

so your middle man you do marketing youhave your website up you do direct mail you make phone calls you knock on doorsyou hustle, you grind you do whatever you need to do to find these motivatedsellers not as hard as you think it's not easy but it's not as hard as youthink get the house under contract sell thecontract to an end buyer you can just put the house on craigslistyou can do you go on meetup.com there's a lot of real estate meetup groups those are all house flippers go to oneof those you can send the contract their average profit on a real estatewholesale contract is going to be

anywhere from ten to twenty thousanddollars yes ten to twenty thousand dollars forliterally having one person signed a piece of paper and then finding someoneelse and have them sign that piece of paper selling the contract to them genius business model guys now how i didmy first deal let me the story on that and then i'll stop this video we'll gointo more detail in further videos down the road but i just want you guys tohear how i did my first deal because a pretty cool story so how this worked i didn't have anymoney for direct mail

i didn't i was too scared to pick up thephone and call people so really my options were minimal fortrying to find a seller but the one thing that i was comfortable with wascraigslist so what i started doing with craigslistwas i would which is on it every day i go check multiple times a day scrollthrough the for sale by owners and see what the new listings were and just readthrough and see if i could establish some sort of motivation from peoplethere i stumbled across this ad that said forsale by owner i'm moving in two weeks my tenants justleft it was a it was a landlord who had

this home is tenants just vacated and hewas moving to florida in two weeks and he had the house listed for 220,000 so icalled my buddy sterling he's my business partner and weare just kind of learning this all together we hadn't done a deal yet i was working at the office i couldn'tget out i call the seller from the ad set up the appointment it was maybe two hours after he can puton craigslist call my partner sterling i ran some quick numbers and i saidsterling we have to get that in this house four hundred eighty thousanddollars that's the most we can pay on

this go over there this guy needs tosell in two weeks see what you can do, ok so he got even over the guys house andwent through it and sterling is very good working with people and he wasshaking hands with the guy at 170 a hundred seventy thousand dollars theywere mid handshake while their mid handshake real estateagent who is also looking at the house to this clients comes out and they offertwo hundred twenty thousand dollars to the seller ok is full asking price so here we arewe have our price of a hundred seventy real estate agent comes out offers 220now sterling being the sales guy that he is

and again just hustlers mentality guysyou have to learn how to take a leap of faith tells him will give you a hundredeighty thousand dollars will close with cash seven days guaranteed and again the guyneeded to close the guy needed to move in two weeks so he could do atraditional closing and the real estate agent with the seller is buyers theywere just getting a traditional mortgage so it was going to take a good 30 daysfor them to be able to close on the property so naturally the guy took our deal shooksterling's hand signed a contract for 180,000 now we don't have any buyers that we cansell this to we don't know any house flippers nor dowe have any cash that we can actually

close on this in seven days so it's timeto hustle right this is our big leap of faith so what wedid is we started thinking like okay so who do we know that wants to buy thishouse well instantly we thought okay well thisreal estate agent made an offer for 220 thousand dollars they want to buy thehouse there's our buyer so what we did is i got a line we didn'thave the agents business card or anything like that we just his firstname so we gotta go only typed his first namedenver real estate agent we came up with like five guys who wentunder images came up with all these guys

pictures and we picked him out who hewas got his contact information that way andwhat we did was we called him and the next day and we said hey we're theinvestors that bought this house from underneath you yesterday if your buyersare 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 canhave the house that you wanted they were ecstatic they accepted ouroffer 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 haveanother sale contract from us to the end

buyer for two hundred twenty thousanddollars great spread there but there's still a big problem it's we have to closeon the house on a traditional wholesale deal you would simply take the contractassign it to the other person just with another contract and then you're out ofit you don't need to actually come up with money to close on the property inthis particular case we did so now our problem is we don't have any money toclose on this house in seven days so we just start thinking like okay whohas some money that can help us out i thought of this one guy who are verygood friends with now and he was the client of another trainer at the gymthat i work at called him up

we've never done business together atall but i know he's a businessman and investor and i they they like numbersand 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 fortwo hundred twenty thousand dollars for us to sell the house if you can lend us that 180 thousanddollars to close in a week we'll split the profits with you 50-50 ok he is like send me the contracts suresounds like a great deal

so what we did was we send the contracts he's like okay send me the wireinformation it looks like a good deal he's going to walk away with 20 grandworking walk with 20 grand that's exactly what happened guys weclose on the house of seven days we held on to it for 30 days until the otherbuyers mortgage could go through and their loan can get approved sold it to them in the same condition webought it we actually went in and remove some junk and cleaned up a little bit justto be nice but sold it to them pretty much just how we bought it

and between us and our investor we bothwalked away with twenty thousand dollars the most i've ever made any point guyswas like twelve hundred dollars from my clients by sessions for me so dominated shortest video up here iknow 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 andstudying and just not being scared it in this business guys in to create wealthand success you just you have to have balls you have to have the balls of faith whatif you want to call it

you have to be willing to take that leapand figure it out as you go so boom! we made twenty thousand dollars fromthat point we finally had money now that we could do marketing for more deals you know we pay ourselves a little bitbut put the rest of it back into the company and now we're flipping houseslike crazy guys were flipping houses were doing two to four houses a monthright now and this is not even a full year into our business so that firststeal it took me like i said it's october two thousand fourteen startedlearning it was not until june of 2015 that i partnered up with sterling and wereally started actually taking action

so i had to educate myself for you knowa good six months, six-seven months educate yourself learn enough to have aconversation with somebody about real estate to talk to a real estate agentnot sound like a total idiot just enough to have a conversation withsomebody about it and then take action guys but i mean that was me noconnections no experience nothing made 20 grand on our first deal so this is what exactly what you guysneed to be focusing on when you're not in your 9 to 5 ok stay up late work on the weekends foryourself

studying learning, studying learningconstantly guys i'm gonna end this video but i will come out more videos thatdescribe the detail of this deal and how to run your calculations how to market for motivated sellers thisis something i'm very passionate about guys, it is so easy to do it just takes somehustle some education and some balls alright so i hope you guys like thesefinancial friday videos give me some feedback on them let me know what youguys want to see i don't want this just to be a fitness channel this is a channel about motivationmindset fitness finances just creating

the life of your dreams guys i'm notkidding anyone can do it i'm not just trying topump you up i'm a regular dude i'm doing this stuff you can too all right i'll catch you guys

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