The Power of the First Deal: Building Confidence and Momentum in Real Estate with Kevin Amolsch

Real Estate Investing with the REI Mastermind Network

Oct 30 2023 • 28 mins

Welcome back to the REI Mastermind Network! In today's episode, titled "Processed," we have the pleasure of hearing from our host, Jack Hoss, and special guest Kevin Amolsch. They dive into the world of real estate investing and share valuable insights and experiences to help you navigate the industry with confidence.

From the uncertainty and lack of confidence when starting out, to the importance of that pivotal first deal, Jack and Kevin explore the growth and process that follows. They discuss the power of using a small literal notebook for daily tasks, the significance of customer relationship management (CRM) systems, and even delve into the lessons learned from historical financial crises.

Get ready to learn about the current economic climate, why land may not be an ideal investment choice, and the importance of cold calling and negotiation skills. Financing options like private money and hard money lending are also on the table, as our experts shed light on the criteria lenders look for and offer advice on how to approach loan conversations.

But it's not all about the money. Jack and Kevin also share their insights on the importance of focusing on client success rather than personal gain, and how this shift can lead to dramatic business growth. They touch on the challenges of the commercial space and highlight a new investment opportunity that allows anyone to get involved in real estate with just $10,000.

Throughout the episode, Jack and Kevin provide invaluable wisdom, including the importance of taking action, learning from failures, and finding your niche within the vast world of real estate. So fasten your seatbelts, listeners, because this episode is packed with knowledge and advice that will elevate your real estate investing journey.

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Topics & Bullets:

Starting out in real estate investing

  • Uncertainty and lack of confidence
  • The difficulty of the first deal
  • Increased confidence and growth after completing the first deal

The importance of organization and prioritization

  • Using a small literal notebook as a daily task list
  • Relying on the notebook more than the phone
  • The lack of customer relationship management (CRM) systems in business

Comparing the current economic situation to past recessions

  • Research on the 2008 financial crisis
  • Similarities between the current situation and the 1990s
  • Acknowledging that every recession is different

Investing in land during the current economic situation

  • Land not generating income
  • Unentitled land not considered for development
  • Lack of bridge loans for land during the approval process
  • Cash as the main option for development

Cold calling as a strategy for generating deals

  • Engaging in cold calling foreclosures, rent by owners, and for sale by owners
  • Negotiating deals with property owners without much cash
  • Involvement of private money or hard money lending

Understanding the lending process

  • Brief experience in the conventional lending world
  • The importance of credibility in hard money lending
  • Having a plan for loan repayment and demonstrating value to the real estate investment

Shifting focus from self to clients for business growth

  • Generating fees initially
  • Prioritizing helping others make money
  • Substantial growth once the focus shifted

Concerns and opportunities in the commercial space

  • Bank's...