Resources:
- Get na free coaching call with Shaun. Go to www.shaunmagner.com,
complete the contact form and put “Fearless Flipping” in the subject line.
Contact:
- Twitter: @speysideacq
- www.shaunmagner.com
Ep 007: Network your way to real estate deals
0:50
– Fearless 5 questions
- Shaun’s most interesting real estate story was a house that had seashells
glued over the entire interior of the house - Shaun’s favorite part of real estate investing is time freedom and a secure retirement
- Shaun’s favorite way to market is direct mail and networking
- Shaun went to a trades school for college and got his degree in carpentry
- Shaun’s story: he worked for some construction and remodeling companies, he
then transitioned into window sales job. After reading “Rich Dad, Poor Dad,” he knew he didn’t want to keep making someone else
rich. He found out about real estate investing from a newspaper ad
7:20– Shuan’s past jobs helped him transition into real estate very easily because he was familiar with how homes were constructed. He also attributes his ability to negotiate and his confidence to his sales job.
9:10– Shaun’s says that if you feel intimidated with networking, then just be real and be you. Let them know that you are new but that you have big goals.
10:55 – Shaun still has a full-time job with door distribution. But he has some time freedom with it so he can still find time to build real estate investments on the side.
12:35 – Shaun talks about networking with a purpose. He went to networking events knowing exactly who you want to meet. He met one hard money lender, impressed him, and he ended up networking Shaun to his contacts.
15:31 – You won’t build a business overnight, but little by little you can build something big. He suggests focusing on meeting one realtor and one wholesaler every week. After eight weeks, you would have 16 new lead sources. It’s also free!
18:20 – Shaun had tons of deals going on at once plus a full time job and
full plate of life. He learned time management is the key to juggling everything.
19:45 – Shaun’s dad is his “purpose.” He wants to travel and secure the ones around him.
Ep 008: Build a real estate business while juggling a full-time job
1:56 – Shaun says he went back to having a full-time job (despite being very successful with real estate investing) because he had too much free time on his hands and got lazy.
3:28 – Delegation can be tough because it’s difficult to let go of control. It’s not true that you will do things the best way. He delegates: lead sourcing, construction with a general contractor, listing with an agent, and hires out tenant placement with his rentals.
6:05 – Shaun doesn’t outsource property management because he wanted extra cash flow and wanted to learn the ins and outs of property management.
7:52– Wholesaling is a whole different business than flipping. Wholesaling is different especially because they have to be marketing constantly. Versus a flipper or landlord who just needs to know a lot of wholesalers.
10:55 – Shaun uses great relationships with realtors and wholesalers so they do the comping and due diligence for him.
12:29 – Shaun works with agents who are used to working with investors, but he also looks for young and eager agents so he can teach them how to find deals for him.
10:45 – To find a good realtor to work with, you need to talk to 8-10 realtors.
15:41 – Shaun says it’s a great idea to get their license. You can earn more money and have more education of how the transaction happens.
17:40 – Shaun says tenant placement was the number one thing he wish he had outsourced sooner.
20:12 – You don’t have time to become an expert in everything in real estate. For that reason, you need to relinquish control. Shaun references Tim Farris’s “4-Hour Work Week.”
22:35 – “Get comfortable being uncomfortable.”
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