Millionaires in the Making – Chris Laymon & John Berry

To give you a little background on these two, Jon and I met them for the first time at the Convention in January in Orlando and they were literally sponges.  Hanging on every word that Jon and I said and asked tons of questions, and we could tell they were serious and wanted to not only do this business but they wanted to do it well! Both are pretty much thinker brains, which they reveal in their testimonial, but they are thinker ACTION brains. They think, then they ACT… they don’t dissect something you tell them until you can’t dissect it anymore.  They are able to process the info, then ACT accordingly!  The deals are starting to flow as they are getting out of their own way and allowing the business to run on auto-pilot by putting people in charge that can do the mundane tasks that neither of them should be doing…and slowly but surely they are seeing the necessity for them to get totally out of the way of the day to day process and just be the ones that oversee the overseer!  These are two guys that we have never heard a negative word out of…we told them what to do, they did it and had some questions, but never was there ever a time when they said… it’s not working or we can’t get anyone to agree to give us a contract. They have been thru a few VA’s and have had ups and downs in the business just like everyone…but the bottom line is they are dedicated to making their goals a reality and we know that they WILL NOT STOP until they do!  What a blessing it’s been being their mentors and friends!  Keep on Rockin John and Chris!!!!  You are an inspiration to the many thinker brains out there!!! Reading their testimonial made us realize that what Ron has always said…when the student is ready the teacher will appear and we are just extremely thankful that we got to be a part of these future millionaires success!!!

Steph and Jon Iannotti

*****

Jon and Steph,

Just wanted to let you know we closed another one!  This isn’t the biggest deal you’ve ever seen, but at least we’re moving… we’re definitely figuring this game out (and realizing how SIMPLE it is) and we’ll be moving much faster in the near future.

So, we got an agreement recently.  This was from a lead we got from our VA.  Real nice house, nice neighborhood… the house needed nothing.  I went out and talked to them and was there maybe 15 minutes (I know…I’m still talking too much..Haha).  The seller was a young guy, actually a mortgage broker which I thought was interesting.  He liked what we could do and agreed to give me a contract.  I wasn’t excited about the price we agreed on.  It seemed really close to retail, and he was hesitant to let me buy it on terms so I figured a cash-out deal was the way we needed to go.  I got a signed agreement the next evening.  That was about a half hour because the bank we met at was really busy that evening.  I sent that agreement over to the attorney to check out the title and it came back good, so I filed the notice of option at the courthouse.

We marketed the house on Craigslist and a couple other free sites (actually, I think our VA did that part).  About 2 weeks in,  the VA got a buyer lead from a school teacher who teaches about 3 blocks away from the house.  Also, his brother lives in the neighborhood so he really liked being close to family.  The cool part was he was pre-approved by his bank.  So, we did a contract with him to buy the house and used our attorney for the closing.  This was our first cash-out deal (our other ones have all been done with terms).  After the closing was over, I picked up a check for $4,000.

So, very exciting deal!  We could have made more had we went back and re-negotiated the deal with the seller, but honestly, we just wanted to get another “win” as quickly as we could.

So, here are the numbers:

Our Purchase Price: $139k

Our Selling price: $145k (It appraised at only $143k, so our $6k payday became a $4k payday.)  Dang appraisals… 🙂

The only expenses we had were the little bit we paid to the VA and the “quick title check” ($50) and filing the notice of option ($17).  So, probably well under $100 in expenses.

We figure, on the high side, we had about 10 hours in this deal.  That’s probably REALLY high, actually.  I only met them twice, and I met the buyer once.  Most of the effort was answering questions from the buyer and seller (mostly by text) and some phone calls to the attorney.  So, about $400 an hour is what we made on that deal.  Not bad for a couple of “thinker” brains.  😉

We’re currently working on our system to get closer to passive cash flow.  (John and I both work full time jobs, so time is something we don’t have enough of.)  Currently, we have a VA getting most of our leads and calling back buyer leads.  We just hired an acquisitionist (he used to work for HomeVestors…) who is going on most of the appointments.  Once we get him going, we’ll probably bring in a couple more and let him train them.  We’ll also get a couple more VA’s to feed us more leads.

If you wouldn’t mind sending this on to Ron, we’d sure appreciate it.  We never would have made it this far without you guys training us… we are very appreciative of all you and Steph have done, and the patience you’ve had.  We’re not the fastest horses out of the gate, but we’re moving forward which is the important thing.  🙂  You guys are the best…

Hopefully we’ll see you at Business Management in November!  If so, be ready for a big high five from us!

Chris Laymon and John Berry, Future Millionaires.