Danny Lynn: Hi Danny Lynn here! Today, I’m with Jarod and he’s a student of Phill and Shenoah’s and he took the RE-Volution Training with his wife Leslie and I’m going to have him tell you a little bit about his story, how he met Phill and Shenoah and how Re-Volution Training has helped him in his deals.
Jarod: Well, I met Phill and Shenoah through the Real Estate Networking Club (RENC) here in Austin and Phill sent out an email shortly after I attended the first time and told me about his live bootcamp course for a weekend and it looked really interesting so Leslie and I went and attended it and afterwards we learned so much that we decided to sign up for his mentor program and from there we’ve already been able to do five deals it been about 7 months ago.
Danny Lynn: Wow! Incredible! Tell us a little about the deals that you’ve been doing.
Jarod: Everything we’ve done so far has been fixes and flips. The one behind us right here is actually a fix and flip that we got. One of the most valuable things that I think that I learned from Phill and Shenoah actually was basically acquisition strategy and how to find the deals. I have one house down the street that we’re doing and we found that through a bird dog and we found this one through basically driving the market, as we’ve found the rest of our deals. Driving the market, it’s turned out to be a very valuable strategy for us.
Danny Lynn: Fantastic. And because Leslie’s a realtor, can you tell us, does it help any to have a realtor on your team?
Jarod: Yes, absolutely. As a realtor, she’s been able to get onto the Multiple Listing Service and she actually found one deal for us that’s an REO just from her ability to get on the MLS and search for deals and also we have real time access to information since she’s a realtor so when we’re looking for deals and scouting for deals, her ability to get on the MLS and look up prices and comps and all that stuff really helps a lot.
Danny Lynn: Fantastic!
Jarod: In addition, it can reduce the cost of closing and the cost of sales since you don’t have to pay the three percent on the way out.
Danny Lynn: Yes, exactly! I’ve kind of found that realtor/investor partnerships are ideal in this type of business.
Jarod: Right, absolutely.
Danny Lynn: What about deals numbers wise? Can you tell us how long it took you to acquire a deal? And maybe the time it took to get to finish and maybe get a buyer and what kind of numbers we’re talking about?
Jarod: Let’s see. It takes, well when Leslie and I started the program, it took us two weeks to find a deal. And after that about another three weeks so we had about two deals in just over a month after we finished Phill’s course and we made about, in those two deals, I guess it was about $50,000 in profit between those two deals.
Danny Lynn: Wow, fantastic. So anything else you think Phill and Shenoah bring to the table as far as the value of being a realtor and an investor in terms of being relatively new to this business?
Jarod: Well, I think the biggest thing that they can teach most everyone. You know, I actually was in commercial real estate development before I took their class and I learned a ton of things even beyond what I learned in my previous experience. One of the biggest things though, is just these 12 strategies that they teach. They open up your eyes as to how you can make money on any particular deal. You can find ways to take money off of the table whether it’s a fix and flip, whether it’s a mortgage assignment, whether it’s just a simple listing.
Danny Lynn: Yes, I agree. Well thank you very much, Jarod, for your time today, and thank you guys, I hope you found this interview valuable and we’ll see you again soon! Bye!