“Using Private Money Is Essential To Get You In The Game Of Real Estate Business” – Dean Rogers
Discover Dean Rogers’ The Wholesaling Playbook shows step-by-step proven systems and best practices that we are using in our active 7-Figure business.
Dean began his career in the NFL with the San Diego Chargers.
He soon realized that if he kept playing his health would be at stake. After walking away from the NFL, he has been in the real estate industry since 2013 leading him to build a successful business in California.
Since then, Dean has flipped and wholesaled hundreds of houses and has a rental portfolio of eight figures. He is passionate about real estate and helping others learn how to build wealth and freedom.
In 2022, Dean created The Wholesaling Playbook to provide a resource for others that want to take their real estate investing business to the next level.
Timestamps:
0:01 – Raising Private Money With Jay Conner
1:22 – Today’s Guest: Dean Rogers
3:50 – Using Private Money Is Essential To Get You In The Game Of Real Estate Business
5:51 – A Private Lender VS. Your Bank
8:14 – Private Money vs. Hard Money
12:37 – Where Can You Find Private Lenders?
15:45 – How To Start A Conversation With A Potential Private Lender
19:09 – Jay’s Free Private Money Guide: https://www.JayConner.com/MoneyGuide
20:08 – Personality Trait That Brought Dean Rogers To Success
24:42 – Hire A Coach!
26:30 – What Is Real Estate Wholesaling?
31:15 – Deciding Factors: Wholesaling vs Fix and Flip
34:44 – Effective Ways Of Finding Motivated Sellers
38:17 – Connect with Dean Rogers: https://www.DeanRogers.com
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Have you read Jay’s new book: Where to Get The Money Now?
It is available FREE (all you pay is the shipping and handling) at
https://www.JayConner.com/Book
What is Private Money? Real Estate Investing with Jay Conner
https://www.JayConner.com/MoneyPodcast
Jay Conner is a proven real estate investment leader. He maximizes creative methods to buy and sell properties with profits averaging $67,000 per deal without using his own money or credit.
What is Real Estate Investing? Live Private Money Academy Conference
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From NFL Superstar to Real Estate Multi-Millionaire – Raising Private Money
Jay Conner
00:00:02
Well, can you believe my guest today started his career in the NFL, my lands with the San Diego Chargers? Now it wasn’t long since him being in the NFL. He soon realized that if, if he kept playing in that national football league, his health just might be at risk a little bit. So anyway, he walked away from the NFL and he’s been in the real estate investing industry all the way since the same year that I started, which was 2013. And anyway, he has just built a wildly successful business out there in California. Well, since he started, he’s flipped, he’s whole sailed hundreds and hundreds of houses. And he’s got a rental portfolio of eight figures a year. Well, he’s passionate about real estate and he’s passionate about helping others, how to learn and build wealth, build freedom. That’s what it’s all about. So in 2022, my friend and guest created what is called the whole sailing playbook. And that’s put together to provide a resource for people like you that want to take their real estate investing business to the next level. And this playbook shows step by step, how easy it is to use his proven systems and best practices that he’s using right now to create an active seven-figure business right now in today’s market. And with that, I’m so excited to have my friend, my fellow mastermind member, Dean Rogers, welcome to the show. Dean
Dean Rogers
00:01:41
Jay, thanks for having me, man, after that intro, I don’t know how I’m gonna live up to it.
Jay Conner
00:01:47
I’m glad you ate your Wheaties this morning as though you were still in the NFL. And so anyway, we’re gonna have a great time. So I know that you have, you’ve been in business for a long time. And I know from our previous visits, you’ve raised a lot of private money in your career. I want to talk about private money and I want to also talk with you about your wholesaling business because you know, that’s pretty cool. You raise a lot of private money, but you’re also a wholesaler. I’m gonna want to hear how you determine what’s the difference between or what’s the criteria of staying in a deal or not staying in a deal and just sort of wholesaling it out. But let’s go ahead and dive in right now with this first question. And that is what was it that was going on in your real estate investing career that caused you to start raising private money?
Dean Rogers
00:02:39
Well, I love that question. Private money is essential. If you’re wanting to grow your business and are an active investor in the fix and flip, and the rental game for me, I realized when I first got started, that wholesaling was the thing that was gonna get me in the game and get me making money. And then after that, I found my business partner. Did he say, Hey, you wanna start doing flips together? Now at the time, I didn’t have the resources to flip these properties. And he said he’ll go ahead and help me out there. But soon after one of my marketing pieces went out a seller called me and said, Hey, I don’t wanna sell my house, but I got 3 million bucks in the bank. What kind of return could you give me? And that’s all it took for me to set up a meeting, and get in person.
Dean Rogers
00:03:24
And he even asked if he could bring one of his friends who had even more money, quote, end quote. And I said, please bring that person. We love to meet both of you. And so that’s where the private money fix and the flip-buying rental journey began. And my eyes suddenly opened because I came from not this world. I didn’t understand really investing. I didn’t understand how you could use other people’s money. It was more so introduced to me as an idea. And the light bulb went off holy smokes instead of buying one property at a time with a partner who had some, capital, and resources I can buy almost unlimited properties. It’s as good as many good deals as I can find I can buy because now I presumably have endless resources for the market that I’m in. So, Jay, that was all it took for me to understand private money was the game. And so from that private lender and his friend, we flipped hundreds of houses within a handful of years there, just from those two people alone, what’s your
Jay Conner
00:04:32
What definition of private money or a private lender said in contrast to a bank?
Dean Rogers
00:04:38
Yeah. So a bank you’re, you’re going through a long process of getting qualified and they’re very rigid on their terms. You kind of have to abide by their rules and their guidelines and their process. And you’re kind of at the mercy of how fast they can move. You’re at the mercy of the resources. You probably need to bring it to the table to put that deal together. Whereas with a private lender, you can pretty much write your own terms and make up whatever you want. Now, granted you can’t, for instance, pay them a thousand percent interest because you know, there are some rules around how much interest can be, can be paid and earned on, a certain transaction. But with these private lenders, you can borrow the full amount of the purchase price plus extra. I mean, instead of being limited with a bank of, Hey, you need to come in with 20% down or 10% down.
Dean Rogers
00:05:36
And you know, this is our process. You can just like I did. I told you, as we were talking last week, that we just closed on a deal. We closed in 24 hours. Then, the prelim was clear. The title was clear. All we needed was to get the seller to sign, which they did the very next morning, we closed in 24 hours with a private lender who I called the day. We opened escrow and said, I needed to borrow $30,000 in excess of the purchase price. He was more than happy to do it. Cuz we had the deal at a discount and he wired money. Then, the day we closed escrow and we got it done and that’s a great investment return for them. They have their money secured against a physical, tangible asset, which is a real estate secured, just like the banks would get in this case a 10% annualized interest return. And that’s way better than less than 1% sitting in the bank. There are a lot of people out there with money sitting in the bank that is getting them nothing, just collecting dust and getting destroyed by inflation. And they’re just finding, just wanting to find a way begging a way to invest their money passively in a safe investment vehicle with somebody they can trust. So there’s, there’s just so many resources out there when it comes to private money.
Jay Conner
00:06:54
So when you’re talking private money, are you talking privately? I mean, are you talking about hard money or is there a difference?
Dean Rogers
00:07:00
There’s a difference, right? So with hard money, it’s an institution, an actual company that got, you know, certified or whatever the process to be able to borrow other people’s money and, essentially pool it, keep it within their own fund and then lend it out usually at a higher interest rate. And then they had, you know, charge administrative fees and points and such. So a hard money lender is someone you can pretty much count on to have money available because they’ve borrowed private money from other people. Now, the thing is with hard money, they still have more of a process. It is a little bit more rigid, but granted hard money is great. I’ve still used hard money because they are in existence with the sole purpose of providing investment capital for people like you and me who are looking to buy investment property so hard money lenders are great.
Dean Rogers
00:07:55
However, they’re not quite as flexible as a private lender is like I said, we closed escrow in 24 hours. All that this gentleman had to do was sign a hand sign and we scanned and sent to escrow his approval of the terms. And then he showed up at the bank and wired his money. That was all that took place on his behalf. And for us, all I did was sign the closing documents and get those to escrow. So here’s where the flex ultimate flexibility comes in with private money because you are establishing how much money is being borrowed at what interest rate. It could be 1%. I mean, shoot. It could be even 0% if they just felt so, so generous to just let you borrow money for free. But typically you might find a private lender lending anywhere from six to 10%. I mean,, it can be as broad as that, but nonetheless, it’s more flexible than hard money. And typically it’s from just people in your, your sphere of influence or someone you’ve met at an event and it’s an individual it’s person to person. Whereas the hard money lender is an institution. It’s a company that you would be interacting with.
Jay Conner
00:09:07
So you just mentioned one reason you like private money over hard money is that you can close quickly. You closed in, you closed in 24 hours with that private lender. You also mentioned a moment ago that the interest rate you set and where you set the interest rate your private, lender’s not setting it. What are some other reasons that you like private money over hard money?
Dean Rogers
00:09:36
Again, it’s just that relationship that you build hard money lenders. Great. Again, you can establish a relationship, but those people might turn over. They might turn over and they’ve got someone else, you know, kind of being the sales role with private money. Just this past weekend, Jay is a perfect example. I’m at a pool party with my kids, just chit-chatting with some of the folks there, the guy just said, he’s selling his house. He’s gonna have about a million dollars liquid. He doesn’t know what to do with it, and there I am talking about real estate. He’s like, well, you’re in real estate, aren’t you? I sure am. Well, yeah. What kind of deals are you doing, Dean? Well, you know, I’m buying this flip over here and I jump buying this rental and escrow right here. And we borrowed this amount of money from this person.
Dean Rogers
01:10:21
And I just subtly mentioned the fact that we borrowed money and instantly, his ears perked up and said, well, I’d love to do, you know, an investment like that because I can be hands-off and I don’t know what I’m gonna do with this money. So, you know, keep me, keep me posted, take my number. So for me, it’s, it’s the relationship that you build. And ultimately it’s the flexibility because now you can start to structure these deals that are, are more advantageous for your business and, and help you with your cash flow. Cuz if you, if you’re bringing your resources to the table to buy these deals, then you’re still in the same position where you only have so many deals you can do because you’re limited to the resources you currently have not to mention the overhead that you’re gonna have in marketing expenses. So for me, it’s that ultimate freedom and flexibility to be able to grow your business.
Jay Conner
01:11:16
Now, in addition to meeting someone and chit-chatting with someone at the swimming pool over the weekend, where else do you find private lenders other than at the swimming pool?
Dean Rogers
01:11:27
Yeah. So the easy, easy, easy place to do it is at a real estate investing meetup, right? For me, that’s always been good because everyone’s there intentionally to learn and build relationships. And so if you’re now just like I did at the pool party, explaining what I’m doing and sharing the fact that I’m buying property, using other people’s money and giving ’em a, you know, eight to 10% annualized interest return. If they’re actively interested in that line of business and they get a good feeling from you and, and you’ve demonstrated that you have experience, they’re gonna wanna work with you. Right? And so the real estate meetups have been great. And now nowadays Facebook, I mean, think about all the Facebook friends you got that are watching what you’re doing. So if you’re posting about how you’re actively marketing, you’re actively buying deals. People are gonna take notice and they’re gonna see what you’re doing.
Dean Rogers
01:12:30
And then all of a sudden you might say, Hey, I just bought a deal looking to establish a relationship with some new private lenders and we’re friends reach out to me and we can chat about it. And you be, you better believe if people are paying attention and noticing what you’re doing, they’re gonna, they’re gonna wanna be a part of your journey too. Right. And so that’s naturally a good place to do it. And then the ultimate crem to Lare, which you’ve spotlighted to me, it’s something funny enough, Jay, I haven’t, I haven’t really had to focus or put my effort there yet because we’ve scaled down our flips to, to be doing more wholesale and buying more rentals and, and not doing as many flips at a time. One of the great places to go is the, well, you, you might know how to say it better than I do, but then, the events where they have the retirement accounts, right?
Jay Conner
01:13:29
Oh yes. Self-directed IRA events,
Dean Rogers
01:13:31
Self-directed IRA events. And I’ve worked with several Jay, myself, you know, private lenders who just so happen to have self-directed IRA accounts. And what do you think they wanna do with that money? They’re putting it in an account to get a return. And I’ve even had some of those folks basically get out of the investment that they were in and even pay a penalty, cuz they were only getting, you know, 2%, whatever in, in a CD or whatever it was they had. And they said, ah, get my money outta here. I want, I want the 8%, you know, and, and they’re just eager to put that money to work and work with people they like and trust. So that is ultimately one of the gold mines that you can go to because that’s specifically what they’re wanting to do is invest that money. That’s sitting there,
Jay Conner
01:14:25
Dean, let’s say you are at a social event. Let’s say you’re at church. Let’s say you’re in some kind of setting with other people that, you know, you got a relationship with. Maybe you’re meeting some new people or whatever. How do you start the conversation with someone else, that would possibly lead to attracting them to being a private lender, to where you’re not sounding like you’re trying to sell somebody on something?
Dean Rogers
01:14:57
Yeah. Now the way that I typically do it, Jay is the conversation just naturally comes up. Well, you know, what do you do for work? Or what do you do for business? And so once we get into that kind of conversation, naturally, I’ll share what I’m doing. Hey, I’m buying real estate. I will borrow someone else’s money, and give them a return on that. They’re a passive investor. And so I’ll borrow those other people’s money, go buy properties and I’ll fix and flip it or, you know, keep it as a rental and refinance it and then they get their money back out, and then we kind of rinse and repeat. So that’s what I do. And then once we get into what they’re doing, maybe I’ll ask them, Hey, you know, have you done any type of investments? Have you bought any other properties? Have you gotten into the stock market?
Dean Rogers
01:15:44
Have you done any type of investments at all? And then once they talk about what those are, you might bring up, well, how have those gone for you? You know, how do you like, how is that how that’s going? Well, you know, I’m getting this kind of return, and let’s just assume it’s lower than what we could give. You know, Hey, well, do you like that? Are there enough opportunities for you to keep that going? And if for chance there isn’t, you might just subtly bring up, well, Hey, you know, I work with other people. I don’t, I don’t necessarily have an opportunity right now, but if you’re interested in getting an X percent return, I might have some opportunities for you in the future. I don’t know. We might be able to kind of squeeze you in there. So it’s just something that’s a, a no-pressure kind of situation.
Dean Rogers
01:16:33
But the easiest way to do it is first to explain what you’re doing and then to get into what they’re doing, what other type of investments they’ve done, and then ask how those have gone for them. Because sometimes that can even be part of your, your leverage if they’re getting a 3% return. Well, how does double that sound? How does a 6% return sound probably sound a lot better than three, so you might get a great return for them and also a great return for yourself on borrowing that money. So it could be an ultimate win-win that just is, is a no-brainer. And that’s the best way I like to get into those conversations.
Jay Conner
01:17:11
I love what you just shared and explained. I love the phrase in your conversation that you have when you say I don’t have an opportunity now, I don’t know. Maybe we, I might for you down the road. And so it’s like, you’re just talking about what you do and how you work with other people. I love your phrase on win, win, win. I talk about that all the time you know, for the private lender, I mean, where else are they gonna get this kind of high rates of returns safely and securely? And it just ends up being a beautiful win-win relationship for, you know, both sides of the table. And, you know, know with that in mind, Dean, I tell you, I’m so excited as you were talking. I was thinking about exactly some points that are in the brand-new private money guide that I just finished writing.
Jay Conner
01:18:02
In fact, it’s called seven reasons why private money will skyrocket your real estate business. And I tell you, friend, if you’re looking for funding for your deals and you make the rules and never miss out on a deal for not having the money, then go get this for free right now, it’ll get you on the fast track to private money at www.JayConner.com/MoneyGuide. It will get you on the fast track to private money. You can download that for free at www.JayConner.com/MoneyGuide. Dean, I wanna talk to you for a moment about your career with the NFL and, and playing for the team out there in California. What attributes, what disciplines, what personality traits of Dean Rogers led you to be successful in the NFL that transfers over to being a successful real estate investor?
Dean Rogers
01:19:04
Yeah. I love that question because spend a lot more time thinking about it. You know, why, why have I been able to make it? And I think the bottom line, is Jay is any entrepreneur that makes it is gonna have similar traits, personality traits to a professional athlete. And, and what that is. I’ve boiled it down to just one thing, one thing, Jay, and that is not necessarily their skills, right? It’s not their skills of them being the smartest or the brightest or the strongest or the fastest or whatever it is. What it boils down to is discipline. Think about athletes, right? For them to be able to perform at a high level. It requires an insane amount of discipline to be able to train day in and day out, to eat the right nutrition, to be able to have your body perform at the highest level possible, to get the right amount of sleep and rest, to perform at the highest level possible.
Dean Rogers
02:20:12
And there are some positions that quite aren’t as tested, as others, but in many positions, you might think a lot of these professional athletes are just, you know, a bunch of big bozos running around in running into each other, but the actual level of, you know, skill and strategy and understanding of plays and all the different variations just in one scenario and having to be prepared for that is pretty intense. And so I’d say that what it boils down to is the discipline to be willing, whether you feel good or not, whether you’re having a good day or not to show up and put in the work. Right. And that means in, in sports, if you got a boo boo and you don’t feel good, if you wake up feeling sick, are you gonna go to your coach and just say, I’m just not feeling too good today.
Dean Rogers
02:21:07
Don’t really feel like it. Right. You know, I didn’t get that good of sleep last night or, Hey, my legs are just sore. You know, I think I’m gonna sit this one out. It doesn’t fly. That doesn’t work. And so the entrepreneurs who are performing at the highest level, and for me, what’s translated over is just regardless of how I feel if I’m having a good day or not, I’m still putting in the work day in and day out. And, for most people that are again at the professional level, when it comes to sports, they’re not the ones that are the first to leave the practice. They’re not the ones that are skipping out on the extra work. The people who get ahead are the ones that are in the, you know, putting in the extra time to review film, right, watching game film, and studying and making sure that they’re prepared mentally they’re in there working out extra time to get their muscles prepared and their body prepared.
Dean Rogers
02:22:03
They’re eating the right food. They’re putting in that extra time. And so for me, Jay, going from the NFL and being at that level, I didn’t get there because I was the biggest, I was the strongest. I was the fastest it’s because I consistently showed up and was a football player that put in the work and effort and then translated to game day and getting results and getting that opportunity to make it. So for me, I think that the biggest thing that’s translated here is it’s not easy to be an entrepreneur, right? It takes someone who’s willing to put in the extra time because how many people say they don’t have enough time in the day, but they’re cutting out from their job at five o’clock and they’re getting home, they’re going out to dinner. They’re spending time with their friends. They’re, they’re watching Netflix and hanging out in bed and there have been four or five hours of the day that they could have used to get ahead in that dream that they’ve had. Right. They want it, but they weren’t willing to put in the action and the effort to get the results. So I think that what sets people apart is discipline.
Jay Conner
02:23:20
If someone is a real estate investor or wants to start in real estate investing and just feel like they lack the discipline that it may take. Do you think a coach might help ’em?
Dean Rogers
02:23:37
100%. I mean, for someone who has some accountability and guidance is ultimately what most people need. Most people aren’t as self-motivated and driven to just do it regardless. So kind of need to rely on someone else to give them that kick in the butt. And, that’s what I’m doing with my students is taking them through not only the training material that’s there, but we have several weeklies. Check-ins where we’re jumping on the phone, we’re going through, you know, negotiation training, we’re going through Q and a, and we’re also checking in on where their progress is and how they’re doing. And I’ve found that that level of accountability is what most people need, cuz people want it. And they might even have the answers in front of them, how to do it, but ultimately to get off the couch, to, to be willing, to put in that extra time, you need someone who’s gonna push and drive you.
Dean Rogers
02:24:35
So for me, growing up, it was sports. You know, I had coaches, I had people who were training me and that level of accountability helped me. I had a speed coach. I had a strength coach. I had a speed and agility coach beyond just the actual head coach of the team and my own position coach. Right. I had multiple coaches helping me throughout my journey to help make sure I had the right information about what I should be doing and how I should be training, but also to make sure to hold me accountable, to show up, and to put in that work.
Jay Conner
02:25:09
Well, Dean, you’ve done all the different types of real estate investing. You’ve got, you know, buy and hold rental portfolio. You’ve got flipping houses, you’ve got wholesaling. You’ve just recently put together the wholesaling playbook that shows a real estate investor, you know, step-by-step proven systems and, and all that. So when, when it comes to you got a deal, all right, let’s say it’s a, you got a house, right? Because we wholesale houses. Typically we don’t wholesale commercial projects. So typically we wholesale houses. First of all, what’s your definition of wholesaling a house? What does that mean to wholesale a property?
Dean Rogers
02:25:51
Yeah. Simply put J to wholesale. A house is a transaction in which you have an investment property. You close that transaction. You make money without ever owning the property for one day. And the way that logistically works is you get a contract to purchase that property. Most of the time, directly from the seller, and for what it’s worth, you can even do this with, market properties, if you do it correctly. But, my favorite way to do it is direct with the homeowner. I have a contract to purchase it. And then as part of my investment strategy, I decided that for me, the best opportunity that’s presented itself is to actually sell this property, to assign the rights, to buy this property to someone else. And by doing so, just the paper, the one piece of paper that signed saying, I’m gonna assign this to someone else.
Dean Rogers
02:26:53
They now have the right to purchase that property for the same purchase price that I have and all the terms. However, there’s also an assignment fee associated. So they’re agreeing to pay me X amount of dollars to take over this property and to buy it at that purchase price. So it’s all the same to the seller. The same agreed-upon price. And now the buyer, the end buyer has agreed that they’re gonna buy it for the purchase price. Plus my associated fee, of course, they’ve run all their numbers and determined that all of them, all things considered, it’s a good deal for them. And they bring their money to closing and sign all the closing documents just as the seller does. And that end buyer now takes the title and owns that property. As the transaction closes, I get sent from title and escrow, that assignment fee, I don’t owe it for a day. It’s a transactional deal for me and I make that money and I move on to the next deal.
Jay Conner
02:27:53
So your end buyer that you’re collecting the assignment fee from after you have a property under contract is your end buyer. In most cases, another real estate investor, that’s actually gonna pay cash for the property and then they’re gonna take it and they’re gonna, you know, do whatever with it, renovate it, put it on the market and sell it.
Dean Rogers
02:28:17
Yep, yep. Most of the time they’re fixing and flipping it, or they’re keeping it as a rental. And from time to time, they might even want it for their own personal residence or they have a client that they know would want it as a personal residence or something for a family member. Right? Some of these properties are outdated or, or not completely remodeled, but the seller was willing and able to sell them at a certain price that made sense. And so some of these properties are move-in, ready, financeable, and, and it works out that way. But most of the time, most of the time, these houses are not only outdated, but they’re also in some sort of distress and need much repair. And, and that’s where the opportunity for us comes in, to buy that deal.
Jay Conner
02:29:05
What’s the average assignment fee that you’re collecting these days on a wholesale deal?
Dean Rogers
02:29:10
Yeah, the average is, and I
Jay Conner
02:29:12
Know it’s gonna vary, right?
Dean Rogers
02:29:13
It’s gonna vary. Yeah. The average is about $20,000. That means some of them are 30, 40, 50, 60, 70, 80, and a hundred thousand dollars. Right. They’ve been as high as that. And then some of ’em just the way the numbers work out, you might make $5,000. You might make a couple of thousand dollars, but generally speaking, based on us, knowing what our goals are as a company, what makes sense for us to do a deal we’re negotiating based on us making at least around 20,000. And if it makes sense, if the property needs extensive work, we’ll negotiate a little bit more to get a bigger spread in there.
Jay Conner
02:29:53
So you’re a wholesaler, you’re also a flipper yourself. You’re looking at a deal. You’re looking at the numbers. How do you decide, am I gonna wholesale this deal and collect an assignment fee? Or am I gonna stay in this deal? And I’m gonna, you know, renovate it myself and make a larger profit. What are the deciding factors?
Dean Rogers
03:30:17
Yeah. I love this question. And ultimately to help you determine for yourself how to make this decision is what’s going on, what’s going on with your business. What are your goals? What are you willing and able to do? And for us, as, as I’ve matured over, you know, my investing career, we used to do just only flips. I mean, we were doing 20 flips at a time. And for me, that was a lot of operational effort and energy. That the way that I have the business set up between me and my business partner and our team members, it just didn’t make sense for us to do too many projects at a time. So where we’re at now today in our business is well, first focus on evaluating what, what will make sense here, right? And if it makes sense as a rental, because we want to continue growing our rental portfolio and it can pencil out to where we can have minimal to $0 in that rental, by the time that we’ve purchased it, remodeled it, and refinanced it by the time we’ve done all that.
Dean Rogers
03:31:26
If we can have little to no money in that deal out of our pocket, then we want to keep it as a rental. And naturally, we want it to cash flow as well. Okay. If we can accomplish that, that’s the very first decision we make. Can this work as a rental with that in mind now, granted there are many other opportunities where we could buy a rental good property, well set up for a rental that would cashflow that would involve some more of our money down needing to be stuck in that deal. 10, 20% down, whatever it is. But our focus is to keep as little amount of money in that deal as possible. So first we look at it from a rental. Next, we look at, whether is easy in and out flip where it’s gonna be low stress, a low amount of effort for us to do it.
Dean Rogers
03:32:16
And could we maximize the return or is this a more involved flip that maybe is gonna require more of our time and effort and resources to get the deal done? That doesn’t justify the additional return we would get if we flipped it right? Because in every deal we’re doing, we’re an experienced investor. We know what other investors expect to make at a bare minimum when they’re buying a property. So we bake that into our numbers when we determine what we could wholesale it for. So if the bang for the buck, isn’t worth it for the fix and flip, then we’ll ultimately determine a wholesale it. So that’s kind of the progression we go through. We go through rental, then we go through the fix and flip and also determine, do we have the bandwidth for it. Cuz we only want to do a couple of flips at a time at this point to make sure we’re not overwhelming ourselves and overextending the time and effort to do that. So that’s kind of the progression. We’ll go through Jay to ultimately determine which investment strategy we’ll use.
Jay Conner
03:33:22
I hear people saying it all the time in this market. I can’t find any deals. I can’t find any deals. There’s nothing in the multiple listing service. Well, of course, there’s nothing in the multiple listing service it’s called, you know, supply and demand. So in this market, what is your favorite way or ways to find motivated sellers off the market directly from, for sale by owners?
Dean Rogers
03:33:46
Yeah, man, I tell you what, we do all sorts of marketing and it’s no guarantee which marketing strategy is gonna work every month, which is part of the reason why we do so many different types of marketing strategies. The ones that we do currently now are gonna be cold calling direct mail pay-per-click. So Google ads, they call that PPC. We do Facebook marketing and then we also do TV ads. So we do multiple different marketing strategies that bring in deals. And each one of those works for us each and every single one of those works. But when it comes to my favorite, one of the ones I didn’t mention is actually deals that we’re doing with other investors. Okay. Now I just told you that we buy rentals. We do fix and flips and we wholesale. How are we doing deals with other people?
Dean Rogers
03:34:45
Well, the way we’re doing deals with other people is we’ve, we’ve intentionally put the effort and energy out there to add value and help other investors through their investing journey, whether it’s just helping them understand how to put a deal together and what numbers would make sense or we’re actually physically going on an appointment to go meet the seller, take pictures, negotiate the contract, get it under contract, and then wholesale it to an end buyer and handle that whole transaction anywhere in between. We’ve been doing that intentionally. And as a result, it’s the abundance mindset, the law of attraction has brought deals to us from other investors, who want us to help them with their deals. And what’s that what that’s done for us, Jay added just last year alone, seven figures to our business from I’ll call it free deals. Other people bringing us deals, right?
Dean Rogers
03:35:43
And for us, with our experience, we’ve been able to negotiate these deals at the best prices. We’ve been able to wholesale and sell them to end buyers, cash buyers at the best prices, and really optimize that opportunity for that other investor and ourselves. And we split the profit 50-50. So what that’s turned into are just a lot more deals that we are doing, working with other people, and a great source of revenue that is is so much fun. I mean, it’s so much, it’s so rewarding to do a deal with someone else, to be able to help them achieve an amazing goal and make help them make $20,000, 30, $40,000. That’s their cut their half of the cut that they otherwise, maybe wouldn’t have been able to put the deal together just from lack of experience or LA’s lack of resources. And so it’s just a super win-win for everybody. And one of the most exciting areas for our business is that we’ve seen a lot of growth.
Jay Conner
03:36:51
That’s awesome. Dean, you have shared such valuable, valuable information here on the show. How can a real estate investor connect with you?
Dean Rogers
03:37:00
Yeah, I would just love it if people connect with me because I love talking about real estate and am just super passionate about it. So you guys can reach out to me. If you go to Dean rogers.com and, and click on contact at the top, you’ll see all my social media stuff. Just to highlight a few, you could go to Instagram, Dean Rogers, real estate, or you go to youtube.com/dean Rogers. And you know, I’ve got content on there as well as just a place to connect and stay in contact with me. So please reach out. I love to interact with other people and constantly be talking about real estate because the more people you’ve probably heard of a million times your network is your net worth and I’ve experienced it firsthand. The more people I meet, the more doors open, the more opportunities, and the more money that I’m making just from being around other good people. So please reach out, stay connected with me, I and love to help you guys through your journey.
Jay Conner
03:37:56
Go to deans.com. That’s www.DeanRogers.com. And I tell you what, if you’re remotely interested in the whole selling playbook, he can plug you into that Dean. I’m looking forward to seeing you at our upcoming mastermind. Can’t wait, to network with you there as well. And again, thank you for coming on.
Dean Rogers
03:38:21
Thanks. It’s been a blast, it always a pleasure to be with you, Jay we’ll catch you
Jay Conner
03:38:24
Soon. All right, you got it, man. Thank you for tuning in to another episode of raising private money. I’m Jay Connor, the private money authority wishing you all the best. And I’m looking forward to seeing you right here on the next episode of raising private money
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