The Ugly Truth About Real Estate Investing

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In this episode I just answer a few questions from Alex in Florida about filling his SlowFlips that he emailed me. If you have any questions that you would like discussed on the show email me at [email protected]

We haven't had a new episode of The Ugly Truth for a few weeks since Scott has been traveling with his family. But even though he has been spending time in tropical paradise, he's still been making money. In today's episode he talks about five important ways to keep your investments profitable so that you too can enjoy the lifestyle that real estate investing provides. Key Takeaways: [:44] Scott has been traveling in Costa Rica and the Bahamas, but he has still been cashing checks. [1:56] Scott recently wrote an article for a local magazine about how to make rehabs profitable. [2:27] How can you determine how much you should pay for a property that you are planning to rehab? [6:08] Don't be cheap. [7:52] Let other people do what they do. [9:47] Don't forget all of the associated costs. [13:31] Don't get cocky. [16:52] For more information, hit us up at Masterinvestoracademy.com. Mentioned in This Episode: Email: [email protected] Master Investor Academy

In today's episode (recorded from Scott's car), Scott warns listeners not to get their real estate investing education from any of the popular, real estate themed reality TV shows that many Americans watch. He also talks about some recent challenges in his own business, and how he dealt with them. Key Takeaways: [:34] Scott is recording from his car, while driving. [:48] Scott enjoys watching TV shows about flipping houses, but warns that they are not realistic. [4:14] Sometimes, there will be setbacks that are beyond your control. Scott discusses problems he has recently dealt with involving a tax lien and an HOA. [9:31] If you have any questions that you would like to hear answered on the podcast, email them to [email protected]. [10:17] For more information, hit us up at Masterinvestoracademy.com. Mentioned in This Episode: Email: [email protected] MasterInvestor1 YouTube Channel Master Investor Academy

In today's episode we don't have a guest. Instead, our host, Scott Jelinek, is talking about rentals and slow flips. He explains the slow flip model, and shares invaluable tips and tools for making this business work. Key Takeaways: [:44] It seems that the market is booming. [2:25] Scott recently made $10,000 on an assignment fee, and the investor he assigned the deal to, made more than he was expecting to make. [4:24] People ask Scott about slow flips all the time. [4:34] Here's how to submit questions to be answered on future podcast episodes. [5:12] What is the Great Rental Myth? [10:28] Scott's 76 properties are not rentals, they are slow flips. [11:36] How is Scott so successful at selling run-down properties without rehabbing them? [18:14] Scott uses some important tools so that he can run his business by himself. [26:50] How do Scott's "tenants" get payments to him? [28:44] Should you pay off your rentals? [34:44] For more information, hit us up at masterinvestoracademy.com. Mentioned in This Episode: Email: [email protected] Deal by Text Pay Near Me Master Investor Academy

Scott met Brian Trippe at a mastermind conference, and has invited him on the show today to talk about his investments, how he got started in real estate, and how he is working now to make real estate education and networking more accessible in Birmingham, Alabama. Key Takeaways: [:34] Scott just closed a deal for which he will make a $21,000 assignment fee. [1:20] Scott and Brian met at a mastermind conference. [1:46] Brian was a college basketball coach before he got into real estate investing. [2:48] Brian found real estate investing through a Rich Dad seminar, and made $10,000 within 30 days of that seminar. [7:15] Brian tried to invest in a rental property, but went back to wholesaling. [8:04] Brian's business became huge, but he recently decided to scale back. [9:03] Brian does a couple deals per month, and only uses direct mail for marketing. [9:18] Brian wants to create a business that would run without him. [10:40] Brian is very committed to building a Real Estate Investor Association in Birmingham. [14:33] Brian won't compromise his values. [15:45] Stop seeing other real estate investors as competition. [17:56] Put money into the right kind of education. [22:02] What book would Brian recommend to new investors? [23:48] There are no secrets in this business. [24:50] Brian likes to coach locally. Mentioned in This Episode: ALAREIA Email: [email protected] Rich Dad's Cash Flow Quadrant: Guide to Financial Freedom by Robert Kiyosaki

Real estate investing is a roller coaster. In what other business can you go from not know how to pay for gas in the morning, to pocketing an $80,000 check in the afternoon? Of course, the unpredictability is part of what keeps us hooked, but it can also take an emotional toll. Today Scott talks to fellow real estate investor Brian Dikeman about how to stay positive through the highs and lows. Key Takeaways: [:41] Scott landed a deal this weekend using "billboard cards." [2:24] Real estate investing is a roller coaster. [3:44] How did Brian get started in real estate investing? [4:38] Brian has experienced the roller coaster first hand. [6:50] In one day, Scott went from totally broke to pocketing an $80,000 check. [9:25] Once you begin real estate investing, you can never go back. [10:56] You've got to keep doing the things that you know produce results. [12:24] What can you do to stay sane and keep going through the ups and downs? [14:17] In his 10-year career, how many deals has Brian done? [14:50] What mistakes has Brian made and learned from? [19:16] Brian recommends Rich Dad Poor Dad. [20:00] Be braver. Have a mentor. Mentioned in This Episode: Rich Dad Poor Dad: What The Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert T. Kiyosaki Brian Dikeman on Facebook

You probably know that almost all real estate investing coaches advocate the use of direct mail marketing. However, few new investors understand exactly how to implement an effective direct mail campaign, and why it is probably better to wait a while before you try it. Key Takeaways: [1:23] Scott tells us about a unique eviction situation that ended up in court. [4:48] Scott tells us what we can learn from the record-breaking super bowl yesterday, February 5, 2017. [6:11] Direct mail works, but there's a problem. [7:46] Scott pulls mailing lists from a list provider, and orders post cards and letters online as well. [9:01] Scott actually doesn't teach his clients to use direct mail in the beginning. [14:45] Your marketing efforts may be invisible for a while. [16:54] Most of your leads are going to be bad, but you should refer all of those to someone else. [18:54] If you enjoyed this podcast, please subscribe, leave a review and check out my book Work Just Gets in the Way of Making Money: Simple Prosperity Through Real Estate Investing. Mentioned in This Episode: ListSource Master Investor Marketing Click2Mail PostcardMania

Today's guest is Kevin Gilbert. If you have followed us for long, you probably know him as Kevin, from the "Kevin Story." In today's episode, he and Scott talk about two things that go hand-in-hand — mindset and lifestyle — and tell us what separates those who dream of living the lifestyle they want, from those who actually make that lifestyle a reality. Key Takeaways: [:46] Scott tells us about the appointment he just left. [1:34] Scott introduces Kevin Gilbert, and the "Kevin Story." [06:23] Kevin tells the Kevin story. [10:12] What does Kevin's life look like now? [12:33] Kevin is working for a bigger lifestyle rather than a bigger business. [13:33] Kevin tells us about his two biggest business mistakes. [15:37] What does a typical day look like for Kevin? [17:54] Let everyone know you are a real estate investor. [21:19] Kevin gives us his book recommendations. [22:31] Go work for someone for free. [24:33] For more information, hit us up at masterinvestoracademy.com. Mentioned in This Episode: Work Just Gets in the Way of Making Money, by Scott Jelinek Rich Dad Poor Dad, by Robert Kiyosaki The Real Estate Investor's Guide to Guerrilla Marketing, by Scott Jelinek The Millionaire Real Estate Investor, by Gary Keller The Book on Rental Property Investing, by Brandon Turner Think and Grow Rich, by Napoleon Hill How to Win Friends and Influence People, by Dale Carnegie The 7 Habits of Highly Effective People, by Stephen Covey ScottsFreeBook.com MasterInvestorAcademy.com

Today our host, master real estate investor Scott Jelinek, walks us through the two deals he closed this week (that, combined, profited him $35,000), and what other real estate investors can learn from them that will lead to bigger profits in the future. Key Takeaways: [:48] Scott picked up a check today for $75,705.18. [1:30] Scott goes over the details of his most recent deal. [9:36] Scott summarizes the most important lessons to take away from his most recent deal. [11:37] Scott tells us about $5,000 that appeared out of thin air. [17:08] If you enjoyed this podcast, please subscribe and leave us a quick rating and review. Mentioned in This Episode: MasterInvestorAcademy.com

Alex Pardo is a self-described "family guy, entrepreneur, real estate investor, coach, adventurer, and sports enthusiast." Alex has built several very successful companies through his real estate expertise, and today he tells us how his college degree has helped him, "zero," in those endeavors, and how he makes sure he stays focused on what he wants out of this business. Key Takeaways: [1:44] Alex cringes when he thinks back to his time climbing the corporate ladder. [2:50] Alex bought the No Money Down course and immersed himself in studying real estate. [3:17] In 2005, a buddy invited Alex to a real estate boot camp, and he made $44,000 on his first deal a few weeks later. [5:05] What does Alex's business look like today? [7:00] Alex's company averages three to four deals per month. [7:52] Alex is constantly marketing. [14:43] Know what part of real estate you like. [17:20] Create your own success. [19:56] What's one thing that Alex would change, if he were starting back at square one today? [21:31] What does a typical day look like for Alex? [24:12] There are pros and cons to working from home, versus in an office. [25:48] Alex gives us his book recommendations. Mentioned in This Episode: Owners.com FSBO.com ForSaleByOwner.com The Go Giver: A Little Story About a Powerful Business Idea, by Bob Burg and John David Mann The Pumpkin Plan: A Simple Strategy To Grow A Remarkable Business In Any Field, by Mike Michalowicz Profit First: A Simple System To Transform Any Business From A Cash-Eating Monster To A Money-Making Machine, by Mike Michalowicz FlipEmpire.com The Flip Empire Show

Antonio Edwards began real estate investing in his twenties, at a time when he was struggling to make ends meet, and was sleeping in his car. Today he lives an unbelievable lifestyle, and wants to educate others about how they, too, can fulfill their financial dreams. Antonio also expresses his indebtedness to our host, Scott Jelinek, for introducing him to the "slow flip" technique that changed his business forever. Key Takeaways: [:41] Antonio was the one who encouraged Scott to teach others about real estate. [1:51] Antonio says every day is different in real estate investing. [2:26] Antonio does virtual wholesaling. [2:47] Antonio talks about a deal that he is working on, right now. [5:49] How did Antonio go from working in the music industry to real estate investing? [10:28] Antonio tells us why he will always wholesale properties, along with utilizing new strategies. [11:38] Antonio utilizes Scott's "slow flip" strategy. [13:08] Scott explains what a slow flip is. [15:31] What was Antonio's biggest setback since he started real estate investing? [18:15] Antonio has messed up in the past, and cost himself money. [21:30] What does Antonio's business look like now? [25:17] If you are just starting out, get a mentor, and focus on one strategy. [30:40] Antonio wrote a book called Be You, Be Great! [32:34] What does a typical day look like for Antonio? [34:43] Somebody has to keep things moving. [39:10] Scott talks about a "seller-decision timeline." [39:37] Follow up on every type of property, even bank-owned. [41:13] Keep a "deal board" of hot leads. [42:05] Get in touch with Antonio at reirichandfamous.com. [43:54] For more information visit masterinvestoracademy.com. Mentioned in This Episode: ReboGateway Be You, Be Great! Unleash Your Unique Gift of Greatness Within You, by Antonio Edwards Podio Antonio's Website The Real Estate Rich and Famous Podcast Master Investor Academy

In this first episode, podcast host Scott Jelinek, introduces listeners to The Ugly Truth About Real Estate Investing and tells the story of how he became a full-time, successful real estate investor. Key Takeaways: [:42] Scott plans to teach some unconventional things that will be much different from what most people are teaching, because he has seen the good, the bad and the ugly in this business. [1:00] Scott will answer listener questions, conduct interviews and share tips. [1:34] Scott has wanted to do a podcast for a long time. [1:52] Scott grew up on Long Island, and dropped out of high school to work full time, when he was 17. [2:30] At work, Scott met some soldiers who convinced him to join the army. That was a great experience, but not what he wanted for a career. [3:35] Scott moved to Virginia, and still lives there. [4:33] Scott started his first business mowing lawns, at the age of 19. [5:29] Scott bought his first house in 1994, and learned his first lessons about real estate. [7:02] Scott bought his second house just a few months after the first. [7:55] What was the "McDonald's plan," and why didn't it work the way Scott thought it would? [8:40] Scott almost quit with ten houses, but then he had lunch with a friend, who taught him about lease options. [8:55] In 2001, Scott was introduced to wholesaling, and made $10,000 on his first assignment, on accident. [11:41] Scott has been investing in real estate for more than twenty years, has done between 600 and 700 deals, and currently owns 74 rental properties, 20 of which are free and clear; and 40 will be free and clear within the next three to five years. [12:16] Scott's average assignment is $19,000. [12:24] Scott takes 12 weeks of vacation with his family each year. [13:11] What does Scott have to say about the Great Recession? [13:50] Scott doesn't teach a "leverage model." [14:25] On the next episode Scott will interview Antonio Edwards. Mentioned in This Episode: Masterinvestoracademy.com