The 3 Paydays System: Creative Real Estate Strategies

All right, Wicked Smart listeners, welcome to another solo cast by myself here with you for the next whatever, 15 to 20 minutes, depending on how carried away I get with this rant. I want to talk to you today about realtors and investors and why and how you should utilize creative real estate. Because quite frankly, and I've got some year-end thoughts for you relative to this as well, because quite frankly, I know there's a ton of money being left on the table. Frankly, if you're in the category of wholesaling or fix and flip or buying hold and just doing those, you're missing the boat, in my opinion. And it's nothing personal. It's just from experience. I did too. For as of this filming in September of '24, and you're going to see it towards year end, I am on 33 years this particular month, 33 years in the biz. So as I look back, my first 18 or so, I was missing the boat. Now, why do I say missing the boat? Well, we're literally changing as a company, Wicked Smart, Smart Real Estate Coach. We are literally changing the landscape of the real estate industry where, you know, our purpose is empowering individuals and families to live the life of their dreams. Number one. Number two, we're actually helping buyers and sellers who need and/or are better off with our pathway. of homeownership. I mean, we have buyers and sellers who are in tears on a regular basis. And I'll tell you that more than ever, this demand from them is huge, huge. So our theme at our QLS Live event in September was revolution, real estate revolution. And why was that? Well, because there's literally— what caused the revolution, by the way? Usually frustration, right? Let's just go with that. There's all kinds of things, but frustration is one of them. And there's a wave right now, a wave that historically creates millionaires if you look back historically. And it's the best in my 33 years. Again, as of September of '24, it's the best. And so I want to make sure that you're part of the revolution, number one, especially if you weren't at the event. And number two, you catch the wave because these are the type of waves that people go, oh, I am so glad that I was around then. I'm so glad I met so-and-so. I'm so glad they put me in touch with this versus— and I was able to capture the experience of catching some wind in my sails versus grinding it out against the wind for so many years. And I don't know what your scenario is. I'm just telling you what my scenario was. And there's a big, big difference. Now, when I said it's nothing personal, just about the experience, what do I mean by that? For those of you that maybe you're new to the show, maybe you haven't read my book, I want to give you a free book, by the way. I'll glance at my notes here. Go to wickedsmartbooks.com/podcast and get the book for free if you haven't read it yet. But I was a builder investor since 1991. I built homes, owned a Realty Executives franchise where as a, as a broker owner and a producing realtor, we were doing 100 homes a year. So when I say from experience, you realtors and your fix and flip and wholesalers are kind of missing the boat. Here's what I mean from the realtor side. Quick examples from my own metrics. At 100 homes a year, we sold about 72%, 73%. So I gave up, if you think about it, I gave up out of those, if you look at 100 deals, I gave up 18 of those every year because I only sold 72%, let's say, right? If I took 100 listings and I took more to sell 100, but let's just use these numbers. If I took 100 listings as a realtor, I'm giving up 18 of those when I could have normally created 3 paydays with them. So let's say out of those 18 homes, I couldn't create 3 pages with them all. I couldn't buy them all as an investor in the real estate on your terms niche. But let's say I only bought a third of them. So that's 6 houses a year. So from 1995 till 2000, when I owned Realty Executives and I sold it to Coral Banker in 2000, but let's just say it was only 6 a year from '95 till 2000. Well, in 5 years, it's 30 deals. Now, I know I'm going heavy math with you here, but as a realtor, you got to really sink your teeth into this. At $75,000 average per deal, at least that's our average. We're low in our community. We go from a low of $45,000 to a high of $350,000 all 3 paydays. But if I just did 6, 6 more a year and then over 5 years, that's $75,000 a deal. Guess what that comes to? $2.25 million. And it's not just the money, it's the quality of that income because it's not transactional. Not transactional. It's not do a deal, get paid. It's do a deal, launch three income streams. So instead, think instead of the transactional kind of in the zone realtor, think outside the box. Still do what you're doing. Still be a top producer or still do your X amount of deals per year as a realtor. But all those things that don't fit in your box—the expired listing, the the the sellers that don't want to pay you, or the sellers that are upside down and then they don't want to do a short sale—everything literally. that doesn't fit inside your box, you can and should be doing creative real estate and you can and should be specifically creating our trademark 3 paydays per deal. So, so just from that, that's what I mean by you're missing the boat. Now, secondly, when I talk about experience, I had my own properties conventionally up through the 2008 crash. My son Nick was doing pre-foreclosure deals back then and, and we were buying at, you know, $0.60, $0.70 on the dollar. We did the conventional stuff that a lot of you wholesalers and fix and flip think you have to do and it's the only way you can do it. But most sellers didn't want to do those deals. And you know that if you're in that space, right? I think about 10% or maybe 12% of our leads converted to those types of deals. What about all the other ones? I'm not saying they're all creative deals, but we have some people in our community who are wholesalers generating 600 leads or so a month, doing 6 to 10 deals, and all the other ones they were throwing away. And they come into our In the Trenches boot camp. I'll give you some information on that in a minute. They go, Oh my gosh, I didn't realize that. I'm humbled. My eyes are open. These are the comments we get. And so for all the reasons, this is why I'm saying I think you're missing the boat, guys. If you're a wholesaler, fix and flip, you're a builder, you're buy and hold, or you're a realtor. After the crash, noticing all this now in hindsight, I re-engineered my business after 4 years of literally trying to get out of my own way after the crash. Now let me give you the boot camp because I said it and I just went past it. We hold a private boot camp here. I'm pointing out my window here in our conference room privately almost every month that we're not doing another event or something else going on. And that's where I tell you that you will be enlightened, you'll be humbled, you'll be empowered, you'll be ecstatic to leave here and go do creative deals. I want to get you some information on that. Just go to smartrealestatecoach.com/ittbootcamp. I had to go outside, make sure I had that right. Now, in hindsight, I can tell you with certainty that you're simply leaving money on the table as a realtor and as an investor. As an investor, the wholesaling, flipping, and builders, sure. But all deals that you can't convert lead-wise, learn how to convert them, or a subset of them, learn how to convert them to creative deals. Or either learn how to do it or learn how to refer to us. Either is fine, but stop throwing them away. We have some realtors that come in the community and learn how to do it. They now become the expert. They now become the authority. We've had the same with wholesalers and flippers so that when they're on the phone with sellers and sellers want to hang up because you're trying to do 60 or 70 cents on the dollar, you go, whoa, whoa, whoa, I have other options. And we'll help you get scripted about that. And it's not transactional. If you're flipping now or doing wholesaling now, and please don't take this as a stab at you because I have a lot of great friends on my podcast on this very show who have been guests who make millions of dollars doing it. But it's still transactional. I don't care how much they're making at it. Okay, so let's convert you, at least some of your deals, to 3 paydays. And the same I said with the— with your realtors. Let's— I don't know if all your listings are getting sold, but I think most top agents, somewhere between 70% and let's say 90% sell. I was— mine was 72%, I told you. Now, I don't care if you're an investor or a realtor. 2 choices: learn how to do it or learn how to refer it to us. That's it. And I said earlier, if you didn't catch it, when you do create the 3 paydays, you're creating $45,000 to $350,000. We used to say $45,000 to $250,000. And in February of '24, we had a new record high. The payday 3 was $329,000, the payday 3. And so when we look at that, I don't know what the payday 1 and 2 was off the top of my head, but I'm using $350,000. I actually think it was higher. And if I, and if I've said enough, I don't want to keep beating this into the ground. I want to give you some calls to action here. Here we are close to year end, or if not at year end, depending on when you're hearing this and you're getting ready for 2025. And because of that wave I mentioned earlier, you literally have a chance to get in the driver's seat, take advantage of a wave, catch the wind, and create potentially— I don't know you personally yet, but create potentially, I don't know, a decade or more of income if you do this right for the next 9 to 24 months or so. So here are 3 things I invite you to do besides the other things I just gave you. I gave you the The ITT boot camp to check out. It's the In the Trenches boot camp, and I gave you my free book. If you want to just go through my workshop, it's a replay. No one's going to be bugging you there. You take it at your own leisure, and it's going to take you about 45 to 55 minutes. If Q&A is going to bring it to about 55, Q&A is worth sticking around because they're good intelligent questions on most of the replays we send out. So go to the master's class. Go to smartrealestatecoach.com/masterclass. Now, if you say. Well, I already saw you live, Chris, on a workshop, or I already saw that replay of the workshop. Okay, then just go buy the QLS course. It is the most robust course in the entire real estate education space, and you get it for free with the apprentice program. If you want to check that out, just go to 3Paydays— it's a numeric 3— 3paydaysapprentice.com and become one of the newest apprentices and get all that stuff for free. You get $16 grand worth of coaching for free, actually. Now, if you're hearing all this and you're going, all right, Chris, you throw a lot at us and a lot quickly from New England, then, and you want to kind of digest it a little bit, let's you and I personally get on a call. I'm going to give you my personal link. Yes, it hits my calendar. Yes, it'll be me chatting with you. And I'm just going to have a strategy call with you, a planning session with you. That's it. Go to smyrealestatecoach.com/chrisprecall. That's C-H-R-I-S-P-R-E-CALL. That's it. Now, as a bonus to being on this solo cast and being one of our wicked smart listeners, here we are at the end of '24. I said, I want to give you a gift. I said at the beginning, I think you're missing the boat by not diving into becoming sort of the authority in your space, in your lane, in creative real estate, real estate on your terms, and taking advantage, fully advantage of the 3 Paydays trademark system I developed coming out of the crash. But in addition to that, I want to give you a land training I did called the Hidden Profit Center. It's yours for free. It's in our academy, but all you got to do because you stuck around to the end of the episode is email myself, Chris, chris@smartrealestatecoach.com. I'll have my executive assistant Kim go ahead and shoot you out access to the Hidden Profit Center because every single one of you hearing this and every single one of you listeners, I don't care if you're in the category of realtor or investor and you just, you've got your W-2 and you're hanging out because you like our podcast and you eventually want to be in it. Okay. It doesn't matter. You are all driving by what I call another hidden profit center in the land world, something that I've done for years and years and years and made gobs of money doing it by just simply being aware of how and what to recognize and act on for land. Could be small, could be big, but it's sitting right in front of you every time, every single day, every single week that you're driving around. Email chris@smartrealestatecoach.com. We'll get you access to it. Before I wrap up this episode, this additional solo cast for the year of '24, I want to give you other reasons to look at the creative space in general, real estate on your terms in general. Real briefly, in no particular priority order, think about this formula I'm about to give you. About 1/3 of the properties in the United States are free and clear. We can show you how to find them and what to say to them to transact deals. My own office building was bought that way from a free and clear owner in a mixed-use building. It doesn't have to be homes. And the formula is real simple. When you do residential properties and you buy one, a free and clear property for anywhere from 2, I'm going to use round numbers, $200,000 and up, and you structure at least a 4-year term, 48 months, all arounder that or longer, and you structure a $900 or higher monthly principal-only payment, guess what? The 3 Paydays trademark system will produce for you 6 figures every time. So I don't know how much you make at your job or your real estate business or as a realtor or whatever else you do, but I know that that formula I just gave you works. It works every time. All you got to do is learn how to find the free and clear, learn how to speak with them, and learn how to structure the deal. And I know someone and I know a group of people in the Wicked Smart community who can help you do that. Secondly, you can buy multis and mixed use as I did the office building, We pointedly did a mailing, only about 275 pieces, to 4 to 10 unit buildings that were free and clear. Bought it no money down, cashed out over $100,000 within 4 years. Said, well, that was good. Let's do another one. Bought a 6 units. We did a 4 and a 6. We targeted 4 to 10. What do we do? We bought it no money down, monthly principal payments, profit over 6 figures, cashing out. Remember, we're not raising money to do this, guys. We're simply working on a system that was designed after the crash by me out of necessity. Working out of a one-bedroom apartment because I lost absolutely everything. So if you're looking for a way out of something like that, or you're just looking to tack this on to your current business, as I addressed you realtors and other investors earlier, or you're looking to exit your W-2, it doesn't matter. All of the above. Or you're looking to plow all this because you're good financially into an IRA, self-directed IRA-owned LLC. It doesn't matter. We can show you how to do exactly that. And as soon as you learn the skill set, Here's the big punchline, and I'll wrap it up with this. Nobody can take it from you. You own it for life. And if you just bought your own home from learning how to do this, you just created an enormous win, even if you didn't do it as a business. I appreciate you guys a bunch. I flew through that episode because I am just pumped for 2025 and to create some new stories with you, with you personally. And all you got to do is either email me, chris@smartrealestatecoach.com, or go to that free link for a call, smartrealestatecoach.com/chrisprecall. And let's chat. Let's chat about how you can be the next story we're telling. Just like Rick from New Hampshire, who was working for the government for 30 years, and I literally called him not knowing he was on vacation and said, hey, Rick, I want to create a new story with you. And the rest is history. He went off and created his first 4 deals over $100 grand. He's now on deal 5 or 6. He's now one of our certified coaches after 30 years with the government. Guys, there's a predictable path here and we can help you do it. I would encourage you, I would ask as a favor, to share the episode for sure with someone that you think could use this message before 2025 kicks off, because you are literally giving them a gift by giving them that. And secondly, I look forward very much to chatting with you either on one of our virtual events or by way of the links I gave you. Make it an outstanding week and we'll see you next week on the next Wicked Smart Mastersclass. Hey guys, are you simply sick of juggling a dozen different software tools for your real estate business? I know I was, and I know I'm not a tech person, so it was frustrating. A subscription for this, you got a subscription for that, and they don't even work together out of the box. That's very frustrating, especially in the real estate world where your best time spent is going to be out in the field or on the phone with sellers. And now you're stuck hiring a tech guru just to make all that sync up. So let's ditch the chaos and let REI BlackBook handle everything. Automate your lead follow-up, track every deal, analyze things quickly for you, make offers all in one platform. In fact, with the Wicked Smart platform, we now have access— if you're in the Wicked Smart community, to all the other associates' properties. Can you imagine that? So you're brand new in the business perhaps, and your seller looks on your website and sees 20, 30, 40 properties, instant credibility. So you're going to get everything on REI Black Book from our custom workflows for lead generation all the way to closing. It has it covered. Try it today for just a buck. $1, guys. Visit smartrealestatecoach.com/reibb. hyphen D-D. smartrealestatecoach.com/reiboy-dog. Thanks for listening to the Smart Real Estate Coach podcast. If you're ready to invest in yourself and take your investing to the next level, check out our 90-Day Jumpstart Program by going to smartrealestatecoach.com/jump. That's smartrealestatecoach.com/jump. Because now is the time to act boldly in this unprecedented market shift.