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How Long Does It Take to Become a Real Estate Agent?

agent hacking Nov 03, 2023

Answer: Not long.

Many different licenses can take a long time to get.

A Real Estate License is not one of them.

If you move quickly, you could probably get your license in 3-4 weeks.

If you want to take a bit more time, you can finish up easily in a few months.

And that’s just working on it during evenings & weekends.

Taking the courses & tests can usually all be done online, with the exception of the final exam. You can also take the courses in person, if you prefer, but it’s usually more expensive.

After you take the courses, you’ll have a final exam along with fingerprinting, background checks, and other documentation you’ll need to submit.

You can find discounts & coupons for the online courses, so the cost to get your license is fairly inexpensive. Then you’ll have some ongoing costs which should usually be more than covered by doing one transaction each year (or even one every few years).

If you’re assuming it’s not...

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Treat Making Money As a Hobby

life hacking Oct 27, 2023

I once heard an investor say this & it has stuck with me ever since.

Treat making money as a hobby.”

For most of us, we don’t think about making money this way.

A hobby implies you do it on the side for fun. That it’s not your main gig.

But, for most of us, making money is a full-time job or a business that we work in full-time.

Of course, there’s nothing wrong with that.

But how great would it be if you made all the money you needed as a hobby and you could spend most of your time doing whatever the Lord led you to do?

Some pastors have told me that they’d probably be in a different ministry position if it wasn’t for the money. And they mean this in the most sincere way possible. Not that they’re in their current position for the money, just that what they have a vision for doing doesn’t pay much or anything at all. As a result, they feel they can’t pursue that passion yet, because they need more money than it can...

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$6,000 Profit - Student Deal Highlight

flip hacking Oct 20, 2023

Every few months I highlight one of our student’s deals in the Flip Hacking Course & Mastermind. I’m hoping these highlights give you an idea of how flipping houses could help you generate extra income to support your ministry.

If you missed the first six, here they are:

$140,874 Profit - Student Deal Highlight

$13,000 Profit - Student Deal Highlight

$26,000 Profit - Student Deal Highlight

$23,637 Profit - Student Deal Highlight

$50,000 Profit - Student Deal Highlight

$81,500 Profit - Student Deal Highlight

Profit

The student in today’s deal highlight made $6,000 in profit. This was a fire damaged property which basically sold for the value of the land. The student originally had it under contract for $20,000 but was unable to sell it. The seller was eager to sell and was willing to reduce the purchase price to $8,000. The student found a buyer who was willing to pay $14,000, leading to his $6,000 profit for the land with an unsalvageable home.

List

The...

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How to Pay Back Your Student Loans Quickly

life hacking Oct 13, 2023

A few weeks ago, student loan payments resumed after a significant pause due to the pandemic.

I’m constantly amazed by how much student loan debt is out there.

Even people who didn’t do masters or doctoral work can have tens of thousands, even hundreds of thousands, of student loan debt.

And I know it is suffocating so many people.

If you have student loan debt, I want to help you get it paid off ASAP. For many of you, it’s hung around way too long.

While paying off a little at time will eventually get you there (after years & years), putting huge chunks of cash on it will certainly get you there much quicker.

Where can you get huge chunks of cash?

You may be able to guess my answer.

Real estate.

In real estate, you are paid for value delivered, not for time spent. As a result, you can generate significant chunks of cash without spending the time you’d have to spend working overtime or at an hourly side gig.

There’s multiple ways to do this.

...

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Why We Try to Live Near College Campuses

house hacking Oct 06, 2023

The last two houses we’ve lived in have been right down the street from a major university.

This was strategic for 2 reasons:

  1. Many of the major universities have been around for awhile & the neighborhoods around them have older homes. This is great because [1] you can find a house that needs some work and create forced appreciation and [2] older homes often have detached structures that you can convert into habitable space.
  1. Short-term rentals tend to do very well near universities. This is because you have a steady influx of parents coming in to visit kids, people traveling in to see the big games, and college kids coming to check out the school (among many other reasons).

In our first house, we were able to convert a storage space behind an existing detached garage into an Airbnb. And in our second house, we were able to convert a single car detached garage into an Airbnb.

And in both cases, the Airbnbs made a lot of money because of their location.

And when we sold...

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Best Offer For These Business Cards

travel hacking Sep 28, 2023

If you want to earn more points to travel free, you’ve gotta check out these new card bonuses.

I just applied for one & was approved!

These are running an all-time high welcome bonus of 90,000 points for $6,000 in spend in the first 3 months.

You can redeem those 90,000 points for $900 cash OR you can use those points to redeem over $1,800 in free travel (if you have a premium Chase card like the Sapphire).

The name of the cards?

It’s 2 sister cards that are running this same bonus.

The Chase Ink Business Unlimited and Chase Ink Business Cash cards.

Now, I know what you’re thinking.

I don’t have a business, so how can I get these cards?

I’d ask, are you sure you don’t have a business?

Is there anything you get paid to do on the side?

Airbnb?

Tutoring?

Weddings?

Counseling?

You may have a business in the eyes of these credit cards companies & you don’t even know it.

It’s likely a sole proprietorship. You haven’t...

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Making Offers on the MLS

flip hacking Sep 21, 2023

In our real estate investing business, we’ve bought all of our properties to flip off-market. Meaning, they were not listed on the MLS (Multiple Listing Service that real estate agents use to list properties) when we bought them.

We find these by using marketing to contact sellers & express an interest in buying their property.

Part of the reason we’ve bought all of our properties this way is because it was very difficult to find a “deal” on the MLS. Too much competition.

Well, with recent market changes & higher interest rates, many investors are beginning to find “deals” on the MLS.

What’s great about MLS “deals” is that they don’t have any marketing cost, which increases your profit.

Our team is now daily making offers on MLS properties. And the best part is that these properties are being automatically emailed to us each day.

Here’s how we’re finding good MLS deals:

  1. Have your Realtor friend set-up...
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Why You Should Own a Business

life hacking Sep 15, 2023

Do you own a business?

I’d guess that most pastors, missionaries, and Christian leaders do not.

I’d like to give you 10 reasons why I think you should consider it.

  1. A business can add an additional stream of income. I’ve talked extensively in these newsletters about the importance of having multiple streams of income. I advocate having enough streams of income that if one dries up, the others can cover your basic expenses.
  2. A business can protect you if you lose your job. Jobs are not guaranteed. Most of us in ministry know this first-hand. Your church/ministry/organization may have the funds to pay you now, but they may not be able to pay you 6 months from now. Many church leaders learned this during the pandemic. Having a business allows you to be in control of at least one of your sources of income.
  3. A business can give you great flexibility. This is ideal for those of us in ministry. You can come & go as you please. And you can make extra money on the side in...
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Finding a Niche as a Real Estate Agent

agent hacking Sep 07, 2023

Chances are your market has a TON of real estate agents.

And they’re all vying for the same clients.

And many of them are working full-time at it.

How could you possibly compete?

Answer: Find a niche!

Here are a few examples:

  • One pastor I know lives in a suburb outside a large market. When he got his license, he knew it would be hard to compete in the large market. Instead, he decided to become the go-to guy in his small suburb. He’s now one of the top agents in that area & still does this on the side to support his ministry.
  • A pastor’s wife I know got her license & had trouble finding clients initially. There were so many agents in her area. She began to focus primarily on her neighborhood. Many of the other agents didn’t live in her area & so she could make an effort to just get the clients around her. Not only has she started doing that, but they’ve even referred some of their friends to her as well. She found her niche.
  • Another...
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One Deal Can Change Your Financial Life

flip hacking Sep 01, 2023

Real Estate Investing is unique in that you don’t get paid for your time, you get paid for the value you add.

You could work 100 hours and make absolutely nothing.

Or you could work 10 hours and make $25,000.

It’s all about providing value.

If, as a Realtor, you represent someone who sells a $750,000 home & you & your broker make 3% (typical commission on one side of a transaction in Texas), you’d be splitting $22,500.

If, as a Real Estate Investor, you buy a home in need or repair for $100,000 and you put $50,000 in it and sell it for $200,000, you just made $50,000.

The pay in these transactions is not based on how much time you worked. Whether it was a lot of time you spent or very little, the pay doesn’t change.

This is why doing something in real estate can be so advantageous for those of us in full-time ministry.

It can allow you to make significant money without having to spend significant time making it.

What I’ve heard from my students...

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