The DealMachine Real Estate Investing Podcast

177: Average $40,000 From 2 Deals Per Month

In this episode, we chat with Beth and CJ Moss, a dynamic real estate duo who have successfully transitioned from investing in multifamily units to mastering the art of wholesaling. They share their journey from their initial investments in Providence, Rhode Island, to leveraging the power of the Deal Machine app, which has significantly boosted their business. Now closing two deals per month with an average profit of $20,000 per deal, Beth and CJ provide valuable insights into their strategies, the importance of volume in lead generation, and the role of persistence in their success. They also recount their unique story of meeting in Kuwait and how their diverse backgrounds have contributed to their thriving real estate business. Timeline Summary: [0:24] - Beth and CJ discuss their start in real estate investing in 2017 with multifamily units in Providence. [1:25] - Transitioning to wholesaling due to a lack of capital, and discovering the Deal Machine app. [2:05] - Achieving consistent profits averaging $20,000 per deal with Deal Machine. [3:33] - Their strategy of adding 700 properties a week to Deal Machine. [4:30] - Their unique meeting story in Kuwait and transitioning back to the U.S. [9:25] - Overcoming initial challenges and staying persistent until they closed their first deal. [12:39] - A notable success story involving a property near a newly built casino. Links & Resources: Deal Machine App: www.dealmachine.com Bigger Pockets Blog: www.biggerpockets.com Closing Remarks: Thank you for tuning in! If you enjoyed this episode, please rate, follow, share, and review the podcast. Stay tuned for more incredible stories and actionable insights on achieving financial freedom through real estate investing.

Duration:: 27m
Broadcast on:: 17 Jul 2024
Audio Format:: mp3

Timeline Summary:

[0:24] - Beth and CJ discuss their start in real estate investing in 2017 with multifamily units in Providence.

[1:25] - Transitioning to wholesaling due to a lack of capital, and discovering the Deal Machine app.

[2:05] - Achieving consistent profits averaging $20,000 per deal with Deal Machine.

[3:33] - Their strategy of adding 700 properties a week to Deal Machine.

[4:30] - Their unique meeting story in Kuwait and transitioning back to the U.S.

[9:25] - Overcoming initial challenges and staying persistent until they closed their first deal.

[12:39] - A notable success story involving a property near a newly built casino.

Links & Resources:

Deal Machine App: www.dealmachine.com

Bigger Pockets Blog: www.biggerpockets.com

Closing Remarks:

Thank you for tuning in! If you enjoyed this episode, please rate, follow, share, and review the podcast. Stay tuned for more incredible stories and actionable insights on achieving financial freedom through real estate investing.

But now that we've been using Dilishine for like a year now and I guess you know I'm really active on the group but you know post it and you guys you know interested in talk into us about our success that we figured and why not let's quit. Absolutely. What's been your story and thank you for being so active in the group. Yeah no worries now so I mean do you start like. Yeah so basically you know we started investing in real estate 2017. And that was really buying big multifamily it's not big but you know three to four units of Providence Rhode Island and you know there's a backstory to how we met and everything but that kind of rolled into wholesaling because we ran out of cash you know we just ran out of capital at one point okay. So then that led us into wholesaling which then led us into obviously drop her dollars and deal machine which is like the best app in the world times a million. Oh thanks guys appreciate it honestly you guys like I really I owe you guys so much money you just like changed our lives you know what I mean. It's brought about so many like you know the leads that we never usually find just by sending our lives since the owners and stuff and they're always the better deals from deal machine you know we always meet that profit and we get them all off them you know now we're averaging like two two Dilishine deals a month and and then other deals as well but just from deal machine I think where we're getting like two jobs dollars each month at least now which is all that's awesome what would you said that you're getting higher profits is that is that pretty consistently yeah so I mean I'd say the profits our profit margin is pretty solid you know deal machine profits tend to average around like 20k per deal as opposed to closer like maybe 1314k deal otherwise okay and how many properties are you guys like putting in to deal machine in order to get two deals per month. We set goals but we always like see them so like we we tried to hit a 500 a week between us but we're getting we're around about 700 a week now between the two of us just because we just you know we find every year yeah well it's so now you guys are wholesaling to generate cash are you still doing buying hold investments or actual flips with that cash yeah so we're not doing flips you know we'll flip a property that needs like 10k 15k but yeah so now we're looking for our big first big multi you know like our 10 plus unit so yeah we're aggressively trying to acquire these properties and again deal machines allowing us to do that you know so we kind of have our wholesale and deal machine but then we also have our big property acquisitions as well gosh it I understood it's working out great it's just such an easy way to store I remember before deal machine I'd be writing it all down on a piece of paper and you know it was so inefficient I've been losing a piece of paper it would just be like scrap you know it would just be really messed up and unorganized but that really helps us keep things very structured and organized yeah we found so what is that so glad to hear that so how did you guys end up meeting and why did you guys ultimately get in real estate so a pretty cool story we met in Kuwait out of all places I guess so in 2016 I graduated from school college in Boston I'm late basketball and I got a job coaching overseas in Kuwait and then you know I didn't know anyone out there I go on Tinder and then boom I met this lovely little man who was a primary school teacher at a British school in Kuwait wow I just moved out there after college as well I was a teacher for like elementary steel children and I was out there six months he came out we met you know kind of fell in love he wanted to go back to America because he tore his ACL and he was teaching basketball so like he couldn't coach anymore with his injury and he had to go back to the US to get surgery so he said to me like lockham reason back to the US I have no other choice like you gotta come with me and obviously I did and then we kind of just figured you know we'll take things out when we got here and it just led us to real estate which was awesome that's amazing yeah now we own a bit you know a company during wholesale and and only read all this great we love it how's your ACL I mean ACL is good I'm good to go now for sure I had surgery that was like about two years ago again well how how long have you guys been in Kuwait before you moved back so I've been there for about a year and a half that was the two years and yeah we really only decided like because it was tax free you know they gave you accommodation for free your money's way back throughout the whatever job you don't and you know they just tell you way more so it's like a whole college students it was just a great opportunity to save money so that's where we all started really and then we used that money to kind of invest in real estate right when we ran out we started wholesaling and the whole way along you know I'm listening to bigger podcast in Kuwait I'm reading bigger pockets books like Beth was kind of doing her teacher thing but I'd be in her ear talking about it listening to wholesaling podcasts and I was like I can't work for anyone I need to actually run the business to try to cross the light with this right well it seems like you're doing a great job yeah I did we're trying it's great we really enjoy it so um had you ever been to the US Beth where are you originally from I'm from England so I am I've been to the US when I was younger just like New York kind of places but never like as a proper holiday but it was more of a stopover around the way toward the place and my uncle's from Canada so we we'd stop there just before we went to Canada but other than that I've never been to the US now I've really you know explored the US since I've been here we've been to all within all over real estate now yeah yeah I've always been curious can you flip homes outside of the US is that a business that people do outside of the US yeah yeah oh yeah they're definitely they still flip houses but I don't think wholesaling is a thing okay I think that you can assign a contract to the UK I've never heard of that so I'm not sure but there's a thing though like I've talked about that we actually don't know I mean that could be a beautiful thing one day we go to the UK and then replicate our business over there you know there might not be as much competition yeah yeah no idea actually there's something to look into today because you could probably get a UK deal machine as well I'm sure people would jump on it yeah we I just don't know how it works I'm not sure if if there are people who do you know two deals a month over there and do they look for rundown houses I've never heard of that so but I've always been curious I'm sure I know they fled so if there was a flicker looking actively for more deals someone who's hungry for them I'm sure deal machine would be right up their alley I'm not sure about soul sailing but you know it's so we'll do that we'll let we'll let you know and I sound we could go back to England yeah I think you ended up an attorney I'll see if we can do some assignments and I can be posted so where where you guys at now what city deal in then so where does small city and southern Massachusetts called Fall River it's about 50 miles south of Wall Street what's like average deal size average property property value for a deal that you guys would do so you know the distressed properties are going to be probably somewhere in the hundreds as in terms of distressed you know ARVs you're probably talking in high mid high twos you know some threes so yeah and then deal size I mean we averaged just over 16k across like all of our deals okay like she said you know 20k per deal machine it's just been it's been our best list I call it our golden goose list you know no one else all of our competitors they can't have our list you know they can pull the tax to link win or the absentee or the probate but she I call it this is Dr. Dollar Queen she gets at least like 400 a week every single week and that's what separates our business I think yeah honestly David the thing is I always see people on the group you know feel a little bit and you know they feel down hearted because they'll send out like such a small amount of postcards or such a small amount of math 10 or do so many cold calls and they focus on so little of the less that and they put the role into this like small less and they don't get anything back to make they feel really disheartened and you know what we've learned in this business is it really is a nervous game like you can't chase things leads you have to hit a lot of them and you'll just hit you'll just naturally get a great flow of lead and generations through having big and large amounts of it's like quantity of lists so we started off I remember you know we we downloaded deal machine back in um April 2019 so it's been just over a year okay and for this first um four to five months we didn't have any leads at all you know we just we kind of kept being very persistent function through we'd have chats between ourselves being like you know incorporated each other to keep going on especially him with me I was like I don't know if this works like we're not getting any leads or we're getting leads we're getting angry people calling us he was like Beth come on like you can do this he actually go and tell what you did yeah I've been basically lied to her one time and like you know husband is probably not a good move but um she wasn't as like two engines of the contracts and the attorney and everything so I basically said listen hey boo you locked down this deal you know here's your little cut 1600 bucks or something you know just when we were starting just a keeper like motivated she was like oh that's awesome we got a deal all right she didn't know we're just out of my bag account you know there's no deal I just get all right kind of keep going right because you knew it was like long-term work out what's done you know the you knew the long-term strategy as long as you say motivated that you would make money but you didn't want this it would take a while like everything else this people talk about wholesaling oh it's the jet rich quid I don't think I don't think that's the case you're gonna work hard and consistent like every other occupation if you want to be successful and I knew we just had to keep pushing yeah so we kept pushing so we started in April and then I think we got our first deal in like July or August and we just gone to Hawaii for a little break we were like you know what we need to just kind of reset you know we we generate because we're still in a little burn and then we came back and we got our first deal and the first deal we got some deal unless you turn into three deals one right off I'll tell you Joe was telling you about that yeah please so and you know this open the calls thought and he's like you send me a postcard to a property I owe I actually have another property that I want to sell that I've been working on for years I want to turn it into an Airbnb but you know it's never really worked how I've never found the time to finish it so it was completely gutted it was in a nice area and it was right by it and newly built casino so it was like you know whenever I wanted to make it actually over an Airbnb and we locked it down to tell the details yeah so we liked it down it was a good deal right away it was a really good deal and then as we're walking through the property I walked through the back door and I can see the other the neighbor's house and it's this bright below completely like demo house you've got to tear this thing down it's all walkie and crooked no one's lived in that forever so I turned to the owner you know what's going on with this house do you know the owner it's a different owner but it tells us the kid's name and you know one thing leads to another so we locked down that first property you know we made a nice profit on we contacted the owner of the other one right away he has to kem over to our house we had coffee we sat down and said listen you know we want to buy it for x amount what we thought as well as we thought that if we did buy boats then this one would lose value because it had this horrible ugly view of this like you know very very con-locking distress property in its backyard so immediately we're like if we can't get hold of the owner of this one we're not going to be able to wholesale it for his lunch so we wanted to try and get them all as a package right so yeah so we came around the coffee he was in like fishing on guy he kind of scooped them off when you know they were cheap and we ended up like you know building rapport with the guy who trusted us he also owned another lot right next to the blue house that he wanted to sell as well so we ended up locking down the the property originally that the guy called us from the blue house behind it which was completely vacant and then another lot of land um from the same person you own the blue house and i think yeah yeah it was like 43k total you know between the three but it turned out to be you know it was really awesome i just one lead to the other and then you take action you keep asking questions and oh you get an awesome deal yeah just with opportunities all the time you know like so what else is all this street you know if someone knows you bought that house or you're interested in it a little more likely to maybe sell you a house because they know that you're able to go through a real deal with him i mean i'll tell you what i think people really need to have exposure to you would you be interested in doing like one of those hour-long q&a webinars that we do every couple of weeks hell yeah absolutely hey guys if you know you want to quit your job in the next three months make sure you're subscribed to this podcast because we've got some incredible frameworks with step-by-step instruction that you're not going to want to miss also leave us a rating in review to let us know your favorite parts and why you want to get financial freedom okay great i'll make sure and follow up with what dates we have available because we would love to get you guys on there that would be awesome i guess DJ is like mr. motivation he'll help anyone like feel pumped up by the end so i did i got an interesting one for you this is funny uh can i just go off on like a different tangent real quick totally so i mean we do such a high volume right or at least like we think we do a high volume 700 a week or whatever so the deal machine app you know how it's how the updated version has the little black dots for the properties yep so every once in a while you click on a dot and like it just can't find the owner's address it'll shoot you to like a completely different territory for whatever reason whatever it's like we don't have it's like one out of a hundred times so if anyway right we're driving around again these delays we click a dot it scoots us to like this weird property you know 60 miles away and we didn't even think about it we just saved it keeping pushing the owner of that property that we didn't i mean to get in this area that we don't target and we don't market to he calls us up and it turns into four lots right he sells those these four lots and we all sell we don't make it like 13k on that deal but it was literally like it wasn't like it was meant to happen it basically found a different mailing address for the owner so it was like a proxy we added and it found a mailing address for somebody else but it mailed to that person yeah that's what we call a happy accident boom yeah it was so great because it's been one of the easiest deals you know it's just land we just ditched it to one of our regular buildings i was just like totally covered hey that's crazy it would be it kind of reminds me when i was first starting out i went to this conference in 2017 in phoenix and i was demonstrating deal machine to somebody and they ended up you know adding the photo we were in the conference center so they couldn't add the photo of a house they like pinned a property nearby and then they took a picture with the front facing camera and it got this bald head on the postcard so the postcard actually sent out and it said is this your property and then the picture was like his bald head blurry and then the guy called back and did a deal and really yeah it was so funny because and then that told me for somebody who's truly motivated some it just doesn't matter uh if the postcard is absolutely perfect or not no i always think that i think that like if you've got somebody genuinely want to sell a house you know it doesn't really matter even like you know how you how you deliver a phone call or what marketing you signed out them or with aid and they're going to want to know right funny story guys i'm glad that you but we've had loads we've had loads of you know great deals and from deal machine we're just really thrilled with that when you know what's bathroom matter which when you're so great thank you so much i'm grateful that you guys let us know about the success you're having it's really awesome for me to hear and motivating for us and we'll fix that little glitch that gave you escape it i thought whatever works we're always trying to make it i mean we're always actively working on making it better are there speaking of that are there any um key features that you guys would like to see next i think i am key features i mean if you can somehow invent a tool to just like highlight the automatic wholesale house when i drive by it that'd be awesome it was like do you guys use that we do have like a highlighting feature have you guys used that before no no i'm trying to find it but i haven't tried it like the absentee only install yeah you can be absentee order is one thing you can highlight i would actually recommend viewing all owners i've done plenty of owner occupied deals what i like to do with the highlight feature currently is show me the properties that have not sold recently and so that way that's like the biggest reason why i would not add a property is if it had just sold for example there's one thing david so obviously i've got the main decal there's only me and him that drive okay i can see when i click on a property when it was bought and what it was bought for but he can't so like sometimes you know i'll be going through his deals and i'll be like oh like you know i'm gonna have to like go extra you know to try and get rid of the ones that may be if it's like is there any way that he can have the same screen as me so that we can share that like knowledge about a property detail the yeah so they're um the basic plan just let's you have one deal finder which is limited the professional plan give you some additional benefits including having two full access team members that would be the way to do it here's um there's some stuff that you could do though now let me pull it open real quick did you guys know we have a new a new interface coming out hello all right we we do it it's going to add a lot of like filtering capabilities um the way to do it now is to use the highlight properties do the any honor and then sold over two years ago and then if you do that it's gonna um highlight properties that are sold over years ago so right now you could preemptively see who's who's actually um a property within your criteria and you'd add just the highlighted ones that look rundown while you're on the showable oh so when we filter the ones out yeah could he do a solid but it's with him yeah so that yep yeah so right now i think the deal finders can manage their own highlights and in the future on the new version of deal machine which i'll show you here in a second if you want me to then um the team owner will be able to set what the highlights are for all the deal finders you guys want to csc peek at that yo's door i have to find it all right so this is the new version uh of course you know the map is a map so that's gonna look pretty similar the the highlight menu is slightly different over here on the right but you do have more options now so all the before you had four options and now you've got five right here plus four more and actually um we'll be adding a lot more filtering options soon so you could set a let's see you presets um you can actually uh save a certain filter criteria in this case i saved a filter uh filter tube and then uh it's also applied to my deal finders and so filter two is preset to no filter at all so let me change that real quick it's sale date um it looks like it gives us a range so let's say there's no minimum year and there's the max year of like 2018 let's see if that works oh let's see here there we go all right so now um save the changes and it is applied to deal finders so like this is how you could set it up so anyone on your team like sees the same highlights very cool the other thing i wanted to share with you guys is it has like this new list view instead of the old one which is really powerful so like you can select all your properties really easily um you could change the status here without having to like open the deal and like load it for example um and then if you open a deal like it pops over here on the right hand side so i don't know do you guys use the web your version at all right now sometimes yeah so we're trying to we're just trying to make it easier for people to have a lot of properties management side of of filtering and managing all those properties so again another way you could do the filtering is let's say he just adds any kind of property what you could do then is uh you could filter all the properties submitted through this filter too again which means it's gonna um do like the date added 20 18 um let's see oh we're on oh that's date added we wanted to filter by date sold oh they and then just crashed where the process of working on it but that's uh that's kind of what's coming down um on the pipe for you guys do you know i've got a question do you actually personally use your machine oh yeah i definitely use the machine okay so what what do you do what's your like what's your strategy do you um do you cut the cord do you just send out postcards what do you yeah i i actually just exclusively send out postcards and uh the way i kind of like want a trickle of leads because i started out doing real estate investing i've got nine properties so far and i want to get to 20 that's my goal um within a year and so i do marketing um but i actually um just kind of send out postcards because i don't have like a whole team um because i spend most my time at deal machine so i just try to keep it simple for myself you know not have to worry about a cold color and yeah and everything like that so that's why i do the mailers yeah yeah i started taking over this corner that i live at right now because i live in like a gentrifying area and that's actually really fun i just sent mail to every house that looks run down and every once in a while i get a call and it's um it's worth paying a little more for me i think because it's just nice to have them all together and i'm self-managed let's go video thank you i'm now so that they can see that you own them and then more and more people come and see i you got to stick the deal machine on there yeah absolutely well i'd love to also hook you guys up with some uh credit to the swag source you guys can get a free hat or something if you want to um of course no charge or no shipping or anything like that i'll i'll send you guys a special link that you'll thank you do that yeah and i'll be in touch too about the webinar i'm excited about having you guys on definitely let's do it so what is that David is it just like a load of people and you were part of deal machine that want to ask questions and we'll speak about yeah we usually have a couple hundred people on and the format is very informal we'll typically go over what your backstory is and what kind of success you've had so far in the first 10 to 15 minutes and then the rest will be just open questions and i like to bring people on video to ask some of their questions and we you just kind of have a conversation with them get their question answered and then we'll just bring on the next person yeah it always flies by you know the time always flies by in that format so um yeah it's really dumb i know everybody would be excited to talk with you yeah yeah we're with tuba lee down we love stuff like that cool well i'll be in touch we do it every couple of weeks i just need to look at the schedule and uh reach out to you all right also thanks David thanks to everybody guys really appreciate it have a good one you too bye thanks for listening to the deal machine real estate investing podcast please leave us a review and follow along wherever you're listening to your podcast [BLANK_AUDIO]