Manage episode 244948640 series 1285270
Keep the best and sell the rest. That’s the motto of David Dodge, a killer wholesaler from St. Louis. He’s on the show today dropping some real nuggets for real estate investors of all kinds. David is on fire right now, doing wholesales, fix and flips, and he just published his first book. Tune in now to catch this guy while you can, because his real estate investments are really about to take off!
David then started renting properties out early on but quickly realized there’s a better way to do this business. That’s where the inspiration for David’s real estate investment strategy came from, and it’s really evolved over the past decade. You’ll want to pay attention to how David developed his profit master strategy. He’s professionally cherrypicking the wholesale properties that fit in with his goals and he’s spending the rest of his time honing in on what he calls the BRRR strategy.
This BRRR strategy David breaks down today is something banks love, too. We’re not talking about big banks here. In fact, David prefers to have his property loans with a few of his favorite banks rather than just one or two. He shares why other real estate investors should be jumping on this trend, and delves further into why he’s using private lender funds to invest in his wholesale properties.
Remember - none of David’s success happened overnight. He took the time to invest in his education through books and mentorships in order to get to the point he is today. David shares where this consistent motivation comes from, but I want you to remember that it starts right here. The challenge for you is to apply the golden nuggets you learn today to your own business and your own profit master strategy to see what works.
"If you’re in real estate long enough, you’re guaranteed to create some wealth. - David"
2:44 - Here’s the man: David Dodge
3:25 - David’s got his new book sitting right next to him
5:05 - What’s David’s focus in real estate investing?
8:18 - Something changed five years ago that changed David’s path
11:10 - Did college influence David’s real estate strategy?
15:15 - What’s David’s business motto?
18:34 - David breaks down his profit master strategy
22:32 - Have you ever heard of the BRRRR Strategy?
27:00 - Why portfolio lending with smaller banks is better
32:13 - What books inspired David the most?
37:39 - David’s got a couple of motivational quotes
43:45 - David’s favorite mobile apps
44:20 - How important is a good dashboard?
48:05 - A few apps and sites that can help you develop a dashboard
49:42 - The greatest lesson David learned in wholesaling
51:17 - The only 2 things that matter about CRMs: Notes and Tasks
54:30 - What’s the “perfect seller appointment”?
56:33 - How to use Tasks the right way in the CRM
58:18 - David’s true definition of “wholesaling”
59:30 - Does David get 8 hours of sleep every night?
59:46 - What’s David’s morning routine?
1:01:46 - David lays out the whole team that’s rocking the St. Louis market right now
1:05:22 - Why (and how) is David using private lenders?
1:11:21 - What does the wholesale market look like in St. Louis?
1:13:37 - What is David most grateful for?
1:19:55 - How do the things and words you say affect your mood?
1:24:47 - How many coaches has David used in his career?
1:27:50 - Why David isn’t afraid of taxes anymore
1:29:18 - David is rocking radio advertising right now in St. Louis
1:35:30 - Where can you get your hands on David’s book: The Ultimate Guide to Wholesaling Real Estate?
1:36:49 - Connect with David on Facebook and Instagram
Wholesaling is so easy. Human beings make it difficult. - DavidLinks and Resources
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