Real Estate Investor · Baltimore, MD · Member since 2011 · 34 posts · 5 votes
A lot of the leads coming into my business would be perfect for Joe McCall's lease option strategy.
Wondering if anyone has any insight as to how this strategy has worked for you in your business. Also, if you have the course, if you'd be open to sharing/selling?
Flipper/Rehabber · Bakersfield, CA · Member since 2008 · 3k+ posts · 3k+ votes
15y
There is a saying that goes something like... You are the representation of your 5 closest friends... I hope so because I consider both Sean and Joe friends…
I personally don’t find it strange that Joe and Sean brag about each other... Heck I brag about them all of the time.. It’s hard not to when you listen to their students bragging about them first… They are good people doing great things without the hype or drama…
I remember being introduced on Ron LeGrands stage as his long time friend… I had never met the man before that introduction.. I bring this up because I have yet to feel the slightest indication that either of these guys have a fake bone in their body.
I remember asking them both if they would like to participate in my affiliate program, to earn money on what their students bought, and both said NO. They said they would rather I discount my letters to their students whatever I was willing to pay to them.. And to this day their students get a .10 letter discount. I know for a fact that both could have had very great vacations had they taken the affiliate fee. It just shows that they are real…
As a former trainer and now a guy who sits on the side lines I am amazed at the dedication of both of them... Talk about driven people… We should take notes… When I listen to other so called trainers rant about how good they are at buying this or that I always wonder what they are selling… These guys aren’t selling… They are teaching… Trust me I can give you the list of non qualified trainers.. That statement probably cost me business. However its true..
Very few people care about the success of their students… Ron told me he expected to earn 60k from everyone in the seats… I have yet to hear anything close to that from these two good guys.
What I find more amazing is that they teach very unique aspects of real estate investing that frankly not a lot of people are willing to share. And they have way different approaches. You will come away with huge nuggets of information to utilize in your business.
Skeptics are just that… skeptical… People who want to learn and succeed will see the uniqueness of both of them and respect their dedication to you…
Do I care what people say and feel about my friends? ABSOLUTELY….
Real Estate Investor · Brookfield, WI · Member since 2011 · 6 posts · 6 votes
15y
Dan-
I am in Wisconsin and I run the Milwaukee REIA. I bought Joe's course when he was here a little over a year ago, and I have added it to my investing toolbox.
I have found that it works well, and I recently added a full time person in my office to work these quick deals with me. There are a ton of people that can't sell there house- even the nice ones without taking a big hit on price, and this is MUCH better than renting it out.
His course is all online; that has been a big benefit, as he is always updating it and it has links to all all- this has also made it much easier to train the help. BUT I doubt you'd be able to buy it 2nd hand for that reason. :wink:
I also like that his course includes his forum- which is quite active with his customers from all over the country- so there is a lot of built in support and updating there too. Good luck.
Real Estate Investor · Baltimore, MD · Member since 2011 · 34 posts · 5 votes
15y
Eric,
That's awesome it's been working out for you! I actually just jumped into this strategy myself and got something under contract here in Baltimore to see if I can't make something happen with it.
Any suggestions on where to start looking for some tenant/buyers? Or better yet...where to find the good mortgage brokers that would be willing to work w/ us?
Real Estate Investor · Phoenix, AZ · Member since 2008 · 55 posts · 99 votes
15y
Hey Dan,
When marketing for sellers you'll get a lot of different types of deals that come across your desk. High equity deals, low equity deals, no equity deals and upside down deals.
For properties that have little to no equity (which are the majority) Joes program is by far the best out there to learn how to structure little to no equity deals and turn them into profits.
His lead generation method are unique and works. I've personally been through his entire course and give it my highest recommendation.
Wholesaler · Dallas, TX · Member since 2011 · 294 posts · 152 votes
15y
Sean,
You seem to get very good reviews and I hear that your podcast contain good info but...
I think it's strange that you posted about how great Joe's coarse is seconds before Joe posted the same "I've personally been through his entire course" on your thread. Do you guys work with one another? Or do co-marketing?
Let me just throw in my 2 cents about Sean. I know Sean & he is a good friend of mine. He really does have his student's best interest at heart. And he is a guy that is actually doing 5+ deals every month in his market - Phoenix. Just check out his podcasts and his free ebook. He doesn't hold anything back - seriously. His academy just dives into a ton more detail and gives lots of real live examples. I highly recommend his course. It's very affordable. I've been through it and still refer to it from time to time.
Flipper/Rehabber · Bakersfield, CA · Member since 2008 · 3k+ posts · 3k+ votes
15y
There is a saying that goes something like... You are the representation of your 5 closest friends... I hope so because I consider both Sean and Joe friends…
I personally don’t find it strange that Joe and Sean brag about each other... Heck I brag about them all of the time.. It’s hard not to when you listen to their students bragging about them first… They are good people doing great things without the hype or drama…
I remember being introduced on Ron LeGrands stage as his long time friend… I had never met the man before that introduction.. I bring this up because I have yet to feel the slightest indication that either of these guys have a fake bone in their body.
I remember asking them both if they would like to participate in my affiliate program, to earn money on what their students bought, and both said NO. They said they would rather I discount my letters to their students whatever I was willing to pay to them.. And to this day their students get a .10 letter discount. I know for a fact that both could have had very great vacations had they taken the affiliate fee. It just shows that they are real…
As a former trainer and now a guy who sits on the side lines I am amazed at the dedication of both of them... Talk about driven people… We should take notes… When I listen to other so called trainers rant about how good they are at buying this or that I always wonder what they are selling… These guys aren’t selling… They are teaching… Trust me I can give you the list of non qualified trainers.. That statement probably cost me business. However its true..
Very few people care about the success of their students… Ron told me he expected to earn 60k from everyone in the seats… I have yet to hear anything close to that from these two good guys.
What I find more amazing is that they teach very unique aspects of real estate investing that frankly not a lot of people are willing to share. And they have way different approaches. You will come away with huge nuggets of information to utilize in your business.
Skeptics are just that… skeptical… People who want to learn and succeed will see the uniqueness of both of them and respect their dedication to you…
Do I care what people say and feel about my friends? ABSOLUTELY….
Real Estate Investor · OFallon, MO - Missouri · Member since 2011 · 8 posts · 1 vote
15y
I'm proud to be a student of Joe McCall's. He's taught me a lot and created a very regular money making channel. I focus on wholesaling deals and that is where I chose to spend my time. On deals that are good lease option candidates, I get them to sign up, then pass them off to a partner that handles all the marketing and displaying of the homes.
Joe's methods are solid.
Wholesaler · Dallas, TX · Member since 2011 · 294 posts · 152 votes
15y
Michael,
I value your opinion because you're often on BP.com sharing free marketing advice and helping others learn the business... You've answered a couple of my questions. I'm a skeptic by nature and I'm really skeptical about most pay-for-play RE coaches, mentors, and/or gurus. Your testimonial carries weight with me and you say some great things about these guys.
Real Estate Investor · Baltimore, MD · Member since 2011 · 34 posts · 5 votes
15y
Sean, thanks for your recommendation, I know you're a good guy so I trust it!
Michael, shameless plug for YellowLetterMail here...but my phone has been BLOWING UP! In fact the reason for this post is because of the campaign you guys ran for my business. Too many leads to handle honestly. Time to get an answering service...Thanks again for providing this quality service.
I think I'm at about 5% response rate so far but leads keep coming in...
As for Joe's program, looks like I'll soon be a follower! I already have something under contract so I don't want to make any mistakes moving forward.
Real Estate Investor · Windsor Mill, MD · Member since 2011 · 4 posts · 0 votes
15y
Hey Guys,
There's a lot of good info in this forum. I've been wholesaling for about the last 5 years in MD. I'm looking to get into lease options. I hope you don't mind me picking your brain if I come across something I need help with.
Wholesaler · Springfield, MA · Member since 2013 · 24 posts · 7 votes
13y
I just finished watching his video on wholesaling lease options but i was really skeptical because I thought it was just another guru...but This is the first Ive seen where people actually recommend it.
Maybe I will give this a try I had just decided that maybe lease option would be best since I'm a newbie and need to build my wealth a little bit just starting out. and I found Joe McCall's video. So thanks everyone so glad we can find good reviews and advice on products before we buy.
Real Estate Investor · L.A., CA · Member since 2011 · 29 posts · 9 votes
13y
Alexaundra,
Flipping L.O.'s can be a good way to start out. Make sure you check in your local area concerning things like leasing & lease options for any specific things you may want to tweak.
Wholesaler · Springfield, MA · Member since 2013 · 24 posts · 7 votes
13y
Thanks @Jay Von Mohr one other thing though Joe talks a lot about the forms for doing these lease option deals but i'm not sure where to get them. Does anyone know where online I could purchase them. I actually have quite a few leads and I itchin to get started lol
Investor · Houston, TX · Member since 2013 · 33 posts · 7 votes
13y
I'm no L/O pro by any means but try googling "free Massachusetts lease option contracts". It should pull up something. I'm not saying to use it, but have someone review over it to ratify it and then proceed accordingly.
Real Estate Investor · L.A., CA · Member since 2011 · 29 posts · 9 votes
13y
Yeah, Joe (McCall) used to assign to the seller, but fairly recently changed over to assigning to the buyer (which I think is much easier & what we have always done).
Real Estate Investor · Boston, MA · Member since 2009 · 2k+ posts · 542 votes
13y
@Anthony Dennis "I'm no L/O pro by any means but try googling "free Massachusetts lease option contracts". It should pull up something. I'm not saying to use it, but have someone review over it to ratify it and then proceed accordingly."
When you get in trouble with that contract, try googling "free Massachusetts Legal help"
My point is that you should get any contract Drafted/Modified/Created by an Attorney in that area of law. They'll stand behind it!
Investor Agent · Burke, VA · Member since 2014 · 243 posts · 12 votes
11y
@Mike Nelson actually, I'm a bit fuzzy on the where profit flows on these types of deals. Doesn't the Non-refundable option fee go to the closing costs or down payment at the end of the option period? I'm not sure how the money flows to the REI.
By the way, I really enjoyed your podcast. I'm not too far from you, near Springfield, VA. Would love to connect and try to help each other out. Thanks!
Investor · Connersville, IN · Member since 2014 · 28 posts · 4 votes
9y
@Jessica Marin, Sorry the reply has taken so long. If you're still interested, it sounds easy enough:
1) You put home under contract with seller for "x" amount of dollars, what ever the seller wants. (Let's say 100k)
2) You market the contract for "x" + whatever you want to make. (Let's say 107k, because you want to make 7k)
3) You assign the contract to the end buyer and charge an assignment fee to the seller. (In this case the 7k)
The seller gets what they want(100k), the buyer gets what they want (a place to live while waiting to qualify for a mortgage), and you make a little for putting the pieces together (7k).