Author Archives: brandony
Author Archives: brandony
Jim Aydelotte, Wendy Patton’s star student – is a real estate professional specializing in Lease Options strategies, and has built an extensive real estate investment business in rural Michigan, with a multi-million dollar portfolio in investments and holdings in a few short years – PART TIME in and out of his IRA.
After 22 years in the corporate world and successful career as a Magnetics Engineer, specializing in permanent and electro-magnetic machines and sensors, Jim worked for several of the nation’s largest corporations in this area of expertise.
SWIG is a proud member of Pennsylvania Residential Owners Association – PROA
In 2006, after 22 years in the corporate world, Jim walked away from the corporate world and accepted the call to ministry, serving as a full time pastor and part time real-estate investor working 3-5 hours a week for a 6-figure income.
Jim’s real estate knowledge and experience has helped him obtain financial freedom, along with many others he has helped ‘retire’ – and coaches hundreds of students all over the country to help them achieve their goals and dreams, teaching how anyone can put $5,000 – $10,000 in their bank account in 30 days using simple techniques.
Today, Jim teaches with internationally recognized speaker and author, Wendy Patton, helping others invest with no money down, and no credit of their own – to control real estate for massive profits.
Jim’s experience spans Sandwich Lease Options and Cooperative or Link Options, and has additionally built an extensive rehab business using private money, and is one of the most well rounded investors and accessible teachers in the industry today.
With hundreds of transactions in 8 years, Jim is one of the country’s leading experts on negotiating with sellers using Lease Option strategies.
Jim is a national speaker & mentor, teaching across the country on how to put these techniques to work for anyone – PART TIME!
Beginning with Lease Options…
It’s almost a distant memory, because I have been an active real estate investor for several years now, and in those early weeks and months – it was such a confusing thing for me to get my mind around the idea that I could sign a couple of pieces of paper, and own or control a property with little or no money of my own, by not going to a bank to get a loan – or using my own credit.
Now, as I teach, coach, and counsel new investors around the country considering a future in the real estate investment world, some of those same memories come back to me, because I see it in them.
At the time I was first introduced to this business concept – the very first thing I thought was ‘It’s too good to be true…”
Then, after hearing other people’s testimonials, and talking with some that were involved in lease options, my second thought was “If half of what they’re saying is true – this is still too good to be true.”
In fact, if half of what I was hearing was too good to be true, then I owed it to myself to dig into this investment strategy more and try to understand it, not just regarding the legitimacy of this business, but is this something that I can do?
You see, growing up, I was surrounded by people in my family who were well versed in the building trades. I worked for my uncle at 15 years old as a tin knocker and general grunt in his HVAC business. My father, who was a deputy sheriff, did side jobs to make extra money, and I was often with him and helped him in many of those projects.
Plus, being in the discipline of electrical, mechanical, and magnetics engineering, this allowed me to have a greater deal of experience in construction – as I could build a house from the ground up – but knew zilch about real estate in terms of investing, taking control of properties, nothing! That was ALL new to me.
So as I began this endeavor – I had to learn a lot, and that took me time, because there was no one around where I lived who was doing it, teaching it, coaching others, or hosting meetings with other investors who were doing it. (In fact, after my initial introduction to this business, I located and attended an REI group about 45 minutes from my house, but it was filled with burned out landlords, and no one was willing to share anything with anyone else, except for you to buy their dump at full asking price).
What Do I Do?
Because of the lack of support around me – I did the only thing I thought I could do – I began to study. I listened to tapes & CD’s, read books, and just spent as much time as I could trying to figure the real estate investment business out, on my own.
By this time, I had attended a rather expensive boot camp, and came away with one valuable piece of information – it was that this does work, and that I can do it!
Not only that, but I would do whatever it takes to become successful in this endeavor – because I was sick and tired of being sick and tired! You see – I would climb the corporate ladder, only to find out that it was up against the wrong wall, time and time again. Failure was NOT an option for me!
The stress of that, combined with the desire to be financially free from a J.O.B. – and to buy back my time, drove me into learning about this business strategy.
I was not opposed to trying new things, after all – I used to be in Amway…but this was different!
For the first time in my life, I could see a light at the end of the tunnel, and it wasn’t a train coming the other way!
But there was a nagging question that kept coming up, over and over and over again….WHAT EXACTLY AM I DO FIRST?
That’s what I want to spend the next few minutes talking with you about. If you’re reading this – you are already hungry for change in your life, and this is a business that can take you there faster than anything else you can imagine!
First Things First…
Of course – one of the things I realized that I must do, is to begin to understand the mechanics behind real estate transactions….and just as important as that – I needed to understand my local real estate market. My market is different than your market, and your market is different than mine, and in order to implement various aspects of lease options, this knowledge is a fundamental necessity.
Of course, I had no idea how to talk to sellers, market and screen tenant/buyers, work with title companies and real-estate agents, etc., but I knew that there were people who learned that before me, and I could learn that as well.
Based on some of the teachings and materials that I had absorbed, read, and listened to, I heard terms like ‘subject-to’, ‘sandwich lease-option’, ‘short-sale’, ‘quit-claim deed’, ‘wholesaling’, and many other terms I knew nothing about.
In fact, my problem, like anybody who is beginning a real-estate investment business who is not familiar with real-estate, was that I was seeking and grasping for direction in a sea of investment strategies.
This is one of the reasons why I did nothing with my beginning education in real-estate (for over 3 years I might add), and went back home stunned by the myriad of ways to invest, let alone, make offers that made sense based on a seller’s particular situation.
So, the bigger issue for me was not overcoming some fear of failure, fear of rejection, or fear of talking to people….no, mine was not knowing where to begin! (I kind of felt like a mosquito in a nudist colony – I knew what I wanted to do – I just didn’t know where to start).
As an engineer, I am usually highly analytical, causing a syndrome known as ‘paralysis of analysis’…. also known to medical professionals as ‘detail-itis’.
Too many solutions, and not knowing enough about any of them, caused me to think that it was necessary for my business to be the total solution for all sellers and all situations.
If you are reading this right now – please do not miss this extremely critical, and very possibly, life saving insight that you need right now – forget about everything else – and focus only on lease options.
Why Lease Options?
Lease options provide the ideal solution for a number of reasons…
First – it requires little or no money to get started. That’s huge for many people, because if you were like me – I lived paycheck-to-paycheck. I did not have the funds needed to invest in properties.
Second – it allows you to take control of a property without taking title to it, thus drastically reducing the risk involved normally associated with investing tens of thousands of dollars, or more.
Third – it is the only strategy that I know of that can put several thousand dollars into your bank account in as little as 30 days!
Here’s an example of a typical sandwich lease option deal….
A seller has a house worth $125,000, and owes $100,000 on a first mortgage they would like to sell. Their monthly principle, interest, taxes, insurance (PITI) payment is $930/mo.
The seller agrees to lease the house to you for $110,000 on a lease option contract, cover their monthly payment of $930/mo, and you agree to give them $1,000 down.
You lease the house to a tenant/buyer for $129,900, receive 5% or $6,500 down, and $1,150/mo. Your seller gets $1,000 from the 5% down paid to you, leaving a ‘front end’ balance of $5,500 with a monthly spread of $220/mo.
If your tenant/buyer gets qualified for a loan in 18 months, you will have made $5,500 on the ‘front end’, $220/mo x 18 months = $3,960, PLUS the ‘back end’ difference between your balance to the seller of $109,000 (you paid $1,000 down) and the balance the tenant/buyer owes of $14,400 ($129,900 – $6,500 = $123,400, less the $109,000 you owe the seller).
Your net profit would be $5,500 + $3,960 + $14,400 = $18,910 – all for doing nothing but signing two sets contracts on a property you neither owned, took title to, nor had to get a loan or use your credit for.
With these positive aspects, and all of the potential for financial reward, lease options are the absolute best strategy for making a significant amount of income as quickly as possible.
Because of the tremendous opportunities that are available, the very best thing that you can do next is eliminate all of the distracting forces and varying aspects to real estate investing, and focus on just one thing, lease options.
In order to do that – you must have the information necessary for you to take in, digest, and get started.
I can help you do that, and I look forward seeing you at the next meeting…
All the Best!
8% of Investors Do 81% of Business
Don’t you want to be that 8%? Of course you do, but, chances are, you’re not – yet.
81% of closed business hinges on one thing – the investor’s ability to follow up, consistently, and repeatedly. But in order to have consistent, repeated follow up that doesn’t drain the life out of you (because if it does, it’s not going to get done for long) you have to have systems.
The majority, that’s 92% of you, don’t have the systems in place that will set you up for serial success. Your lack of systems are the reason why you have inconsistencies in your paycheck – if you’re getting paid at all.
It’s a sad and completely avoidable reality that most investors fail to reach their goals. More often than not, it’s because of these two reasons.
#1 Absolutely NO Follow Up System In Place
Scattered sticky notes and a smattering of calendar notifications do not qualify as a follow up system. Leads need to be nurtured depending on why they came to you and how long they’ve been in contact with you.
You would never send the same message to a probate lead as you would to a foreclosure lead. Why? Because they care about different things – it’s a different conversation.
But if you don’t have a system in place to easily and automatically follow up with these people, you’ll lose them.
You’re losing them right now.
You’re losing them because you don’t have the time, attention, or desire to keep track and properly nurture every lead that comes through the door.
What’s more, it’s not realistic to expect you, or even someone who works for you, to independently keep track of every lead, every client, every person who you come in contact with and expect that they’ll be followed up with in a right and timely manner.
It’s not possible. Which is why it can’t happen without a system. The problem is, most investors don’t have one.
#2 You Have to Do It – Or It Doesn’t Get Done
Does this sound like you? You wear one million hats in your business, and if you don’t do something, it doesn’t get done?
Just look at this list of tasks that have to happen for your business to simply run:
● Pre-screening deals
● Going on appointments
● Making offers
● Setting up Closings
● Finding Buyers
● Getting the money for your deals
● Maintaining your web presence
● Customer Service
● Paying bills
● Researching the next best ‘tool’
● Going to the bank to cash your checks! (Believe it or not you should have a system for this as well)
If you have to do those things or your business fails, then you don’t own a business – your business owns you.
If that’s the case, most times, you’d be better off in a job. It’s less stressful, less work, and the pay is more consistent.
But you’re not reading this because you want a job, you want freedom. You want a life that you choose.
If you truly want a business that creates freedom for you and your family, you’re going to have to change a few things about how you run it.
You need systems to support the pillars of every successful business – marketing, follow up, deal management, and closing.
You need systems so that your machine is always working, and the momentum never slows.
You need systems that will free you from drowning in the everyday minutiae so that you can put your time and energy on income producing activities and the enjoyable bits of life.
You need systems that will keep your pipeline full and your bank account fluid.
You need systems that are proven, repeatable, and simple.
It’s the only way you’ll be paid consistently and repeatedly.
But, honestly, your lack of systems is not your fault.
Systems aren’t especially sexy. The majority of investors are overwhelmed by them, and 50% of those who try to set up their own systems from scratch fail.
You’ve probably tried to implement systems but found yourself overwhelmed by the ‘time-saving’ tech tools available to you. Or, you created systems around people instead of organizing them around business functions – which is a sure way for them to fail.
It’s not your fault, but it is your responsibility to find a better way.
If you’re ready to join that 8% and stop letting your business steamroll you, you’ll want to show up for Jason LiCavoli. He’s going to cover the 5 pillars of business success and how you can systemize each one so that your life as an investor becomes a lot more lucrative, a ton more fun, and provides you with a million times (low estimate) more freedom.
● You’ll learn how to market your business the right way with simple focus, consistent visibility, simple tracking, and one platform.
● You’ll understand how to double your profits without increasing your marketing costs by doing one thing.
● You’ll learn how to manage your deals so that every property receives an offer in less time than it takes now.
● You’ll take away ideas on systemizing your closing process so it runs smoothly and frees up more of your time.
● Most importantly, you’ll learn how to do it all by creating the right systems that will set you up for success.
Would you like to know the exact formula and numbers used by the largest home buyer in Pittsburgh? You know…a proven, formula if you want to grow a scaled, cash flow producing rental portfolio?
Come join us at 6:30pm on April 20th at The Ramada Greensburg as Joe Calloway of RE360 is going to reveal this exact buying formula.
Everyone loves an underdog. Being raised by a single parent in a two bedroom, low income apartment in Mt. Oliver doesn’t usually breed success, but Joe Calloway’s story is anything but usual. Joe went from those unfortunate circumstances to being the largest single family home buyer in Pittsburgh. With little direction in life and few marketable skills, Joe enlisted in the US Navy in 1997. Using his military reenlistment bonus, Joe bought his first property in 2004. For his early projects he served as investor, contractor, designer, and property manager, giving him first-hand experience which proved to be invaluable. After a short stint with Landmark Properties Group as the Director of Real Estate, Joe formed RE360 in 2009. Since then, the company’s rental portfolio has skyrocketed to 270 units with a monthly gross rental income of $229,000. 2014 alone saw the rags-to-riches Calloway invest $5 million and purchase 72 homes, making him the largest housing buyer in Pittsburgh for the second year in a row. Not bad for the poor kid from Mt. Oliver.