January 6, 2017
Joe Fairless

Friday Facts – Best Real Estate Investing Advice Ever Lightning Round Q&A

Learn this week’s Best Ever guest’s best ever books, real estate deals, ways to give back and biggest mistakes

Kelly Smith from JF853: Only 4 Criteria Matter to this Lender in Getting You Funded

Best Ever Tweet – “Lending is adding immense value after the risk has been mitigated.” – Kelly Smith 

Best Ever Book – Rich Dad Poor Dad

Best Ever Deal Kelly has Done

Kelly’s best ever deal is when she helped a young couple clear their debt so that they could start a business and achieve financial freedom (or at least financial stability).

Kelly – “I would have to say it was a client getting back into the business with his new wife in Fort Worth. He was in and out in about 35 days and it was able to help him do 1 to 2 loans a month. He was able to buy a side business and he and his wife are now debt-free. They felt financially secure and they’re taking vacations…I’m just really glad that we were able to help them get through the loan and make it an easy process for them.” – Kelly Smith

Best Ever Way Kelly Likes to Give Back – Fostering puppies!

“I have been dedicating a large chunk of my personal time…since 2007 to animal welfare in and around Austin. I’ve fostered over 100 animals…[It’s] very rewarding to watch an animal that was…unadoptable become someone’s family member. I have puppies that were born in my house back at 2009 and I still get pictures of how cute they are and what a great life they’re living.” – Kelly Smith

Biggest Mistake Kelly Has Made So Far In Real Estate – Not double, triple, or quadruple checking the numbers or getting outside opinions on her first deal

Kelly – “[My biggest mistake was] being over-zealous to get my first deal and not having a second or third or fourth pair of eyes and opinions to tell me what was and was not a good idea.” – Kelly Smith

Tim Landy from JF854: He Increased Rents by ~$700 and Retained the Tenants!

Best Ever Tweet – “It’s better to walk away from a deal than buy a bad deal.” – Tim Landy 

Best Ever Book – Think and Grow Rich

Best Ever Deal Tim has Done

“The most fun I’ve had was [on a] development deal that we built two houses on the lot. It was not only a great learning experience – seeing how to navigate through the city and [realizing that] things can always be better – but it was also a nice return on the back end with not a lot of capital invested.” – Tim Landy

Best Ever Way Tim Likes to Give Back – Volunteering and Donating to St. Jude’s

“I am part of the local St. Jude’s Children’s Research Hospital Board and throwing our big fundraiser at the end of the year. I’m also starting the golf tournament here in Austin and we always donate as much as we can and do what we can for them. But that’s such an amazing organization that anyone that’s unfortunate enough to have to deal with that circumstances with their child being diagnosed with cancer, St. Jude’s ensures that they will never see a bill for any travel or any kind of treatment and they are getting first class treatment as well…That’s such an amazing cause” – Tim Landy

Biggest Mistake Tim Has Made So Far In Real Estate – Picking the wrong partners, and more specifically, not vetting contractors properly

“The biggest mistake I think [is] partnering with the wrong people and not really vetting who you are getting into business with. I’m talking about specific contractors in my experience. I like getting contractor referrals [from] someone else that I know [who] actually uses them and making sure that you know who you’re getting their referral from: is this a credible person? I got into bed with a contractor that cost us a lot of money because we had to pay someone else to come in and undo all of their work. It set us back a lot…but it was a good learning experience and [I know] not to do that again.” – Tim Landy

Brandy Johnson from JF855: Beginner Wholesaler is CRUSHING It with 9 Properties

Best Ever Tweet – “If you don’t take risk, nothing is gained” – Brandy Johnson 

Best Ever Book – Rich Dad Poor Dad

Best Ever Deal Brandy has Done

“I would say the property that I contracted last week that I am closing next week…It came to me from ‘If This Then That.’ It’s a website but they also have an app. You can set it up where if ‘this happens’ then ‘that happens.’ So I set it up so it scrubs Craigslist for different keywords and it sends me a notification if somebody makes a post with that keyword…I have a potential profit of $7000.” – Brandy Johnson

Best Ever Way Brandy Likes to Give Back

“I help as many people as I can for free,” which she accomplishes by posting content and answering questions on different real estate related social media sites.

Biggest Mistake Brandy Has Made So Far In Real Estate

“Not double checking and rechecking my numbers…[by using] the comps. [Now], I pull comps form about 20 different sources to make sure I’m on the money.” – Brandy Johnson

Jerryll Noorden from JF856: NASA Scientist Flips Houses to Fund Robot Project

Best Ever Tweet – “Never rely on your profit to pay for your marketing.” – Jerryll Noorden 

Best Ever Book – Rich Dad Poor Dad

Best Ever Deal Jerryll has Done

“A few days ago, I bought a house for $70,000 and sold to for $91,000 the next day. That’s a very easy $21,000.” – Jerryll Noorden

Best Ever Way Jerryll Likes to Give Back – Sharing his secrets

“What I do to give back is I help people rank [their websites]. I share my secrets – these secrets actually do work. I see their websites. I analyze them and I tell people what works, what doesn’t work. Some websites are friendly but not conversion friendly, so I give them the tips and we collaborate together. I’ve made a whole bunch of connections that way.” – Jerryll Noorden

Biggest Mistake Jerryll Has Made So Far In Real Estate

“I stopped marketing because I was waiting on a deal to complete. I would never ever do that again.” – Jerryll Noorden

In the comment section below, what is your best ever book, deal, way to give back, or biggest mistake?

Disclaimer: The views and opinions expressed in this blog post are provided for informational purposes only, and should not be construed as an offer to buy or sell any securities or to make or consider any investment or course of action.

Facebook twitter pinterest linkedin 
Share this: