Mentor

Hi I’m Dennis Fassett.

I hope you’re here because you have a burning need to do something different. Something that will generate some substantial new money for you. Something that’s not “get rich quick”. Something that you know you’ll need to work at to succeed with it. And something that you can continue to use to earn money on the side whenever you need it.

If that describes you, then you’re in the right place.

Why? Because I was in the same boat a few years ago. I had dug myself into a deep debt hole. I had four kids in private high school and college. And I had pretty much topped out income-wise in my career. Believe me when I tell you that I needed something. And fast.

The thing is, I don’t have some syrupy “rags to riches” story to tell. Nor am I going to trot out pictures of Ferraris, exotic vacations, or girls in bikinis.

Far from it actually. I have a simple story about a time a couple of years ago when I had my back against the wall and I had to do something about it. And how I worked my ass off to finally figure it out and start digging my way out the hole I was in.

I know you’re here to learn what “it” is. And I appreciate the time you’re spending here to learn about it. But before I get to that I need to tell you about my situation so you can understand where I was coming from.

My Story

By way of background, I graduated from undergrad in 1987, and I went back and earned an MBA in 1992. I’ve had a “day job” now for 28 years, and at present I’m an IT Director at a local bank here in the Detroit area.

Back in 2004 we built a big addition onto our home and took in my terminally ill mother to live with us. We supported her until she passed away from Alzheimers in 2010. With the addition, her medications, hospital bills, living expenses, and the assisted living costs over the last several months of her life, we took on almost a quarter million dollars of debt over those six years.

I’m not complaining at all. It was a great experience for my family and I’d do it again in a heartbeat. But we had obviously gotten ourselves into a massive hole.

The problem I had was, with four kids in private school, there was no way for us to do anything meaningful to pay down that mountain of debt. And with the kids all headed for college, I realized that the prospect of doing anything about it wasn’t going to get any better anytime soon.

So when I sat down to look at our situation four years later in early 2014, I wasn’t surprised at all to find that we hadn’t even made a dent in our debt.

So I decided to find a way out of our hole that didn’t involve bankruptcy or shirking our responsibilities, because I didn’t, and still don’t, believe in doing that type of thing.

The Solution

I had been doing some real estate investing for several years, and over that time bought a dozen rental houses and a couple of small apartment buildings. The extra money was a big help, but due to our debt load, that’s what we were using to pay for the kid’s school. So I needed to do something else on top of that.

What I needed was transactional type income. Where I could do something and then get a check, rinse, and repeat. So I decided to get serious about an area of real estate investing called real estate wholesaling.

Wholesaling involves finding a “motivated seller”, getting a home under contract to buy, and then selling the contract to another investor who would do the rehab and sell it. The wholesaler then pockets the difference between the contract price to the seller and the sale price to the rehabber.

It’s basically playing the role of middle-man in the real estate investing world.

I had done a handful of wholesale transactions over the years by accident more than anything else, but I had never focused on it.

When I decided to get serious about it however, I quickly found that there were several pretty significant issues getting in the way of me doing wholesaling with any sort of scale.

  • The first was that since I was working during the day, I couldn’t get out to look at houses during the day. That meant I couldn’t compete with full time real estate investors.
  • The second was that I also needed to keep some balance with family time, and I didn’t want to kill every weekend by being out doing real estate.
  • And the third, and probably the biggest challenge was that it had been years since I had done much investing, so I didn’t have the current knowledge or any recent experience in estimating repair values and figuring out the right buy prices for houses.

All pretty big hurdles to overcome.

The bad news is that it took pretty much all of 2014 to find workarounds for these challenges.

The good news was that I did.

The bottom line is that I made around $30,000 in 2014. In 2015 I made around $60,000. And in 2016 so far I’ve made a little over $127,000, and have seven deals in process that should close early in 2017.

I’ve done all of that while working a demanding full time job; while preserving family time; attending my kid’s school and sporting events; and without looking at a single house other than the one I bought as a rental in November 2015.

The best part? I’ve created a simple, repeatable process that consistently generates the kind of money I need to pay down my debt. And it’s a process that hasn’t consumed all of my free time or taken over my life.

How It Works

The process I developed is actually pretty simple, and it’s something that anyone with a day job or other heavy time commitments can handle without much trouble.

But don’t take that to mean it’s easy. It’s not. It requires work. It also requires perseverance and patience, because real estate is not a get rick quick scheme, no matter what you may have heard.

The process has three basic steps:

Find one source of “motivated seller” leads to target

This is important because if you’re like me, you don’t have a lot of time. So I focus on one specific source of leads to find motivated sellers, and I teach folks to do the same.

Doing that has allowed me to get very, very good at marketing to this group of potential sellers. I’ve been able to get into their heads and figure out what’s important to them, and then adjust my approach as necessary to get maximum results.

That’s significant because in this hot overall real estate market there are dozens of real estate investors in every area contacting potential sellers, and from taking to sellers I know that they only call two or maybe three investors when they decide to sell. So I’ve needed to stay ahead of the game and develop an approach that keeps me at the top of their list so I’m one of the first calls they make.

And that’s the way it has played out. I’ve been so successful with my approach that I’ve only seen one deal from this source over the last 18 months that came on the wholesale market that I didn’t get a call on. Now my partners and I don’t win every deal. But we certainly can’t win at all if I don’t get a call. So I work hard at staying at the top of the game so I have a shot at every house that’s going to be sold.

Use direct mail to contact sellers

I started using direct mail a long time ago when I started in real estate because I didn’t have time to do anything else. I found that, especially when I had young kids, direct mail was a perfect fit because I could process my mailings later in the evening or on weekends when I could carve out some time.

Direct mail is also something that doesn’t have specific deadlines, so as long as you get your mailings out on a consistent schedule it still works. That’s another reason why it’s such a good fit with having a day job.

And finally, direct mail works because it’s the best way I’ve found to market to the lead source I focus on.

So it’s ultimately a great and relatively low cost and low stress way of doing real estate marketing.

Find full time wholesalers to partner with

This was the key discovery for me that allowed me to scale my investing business and start making the type of money I really needed.

It involves finding a highly experienced full time local wholesaler and having them work your leads.

It’s a brilliant strategy actually. And it’s something so obvious that when the lightbulb finally went on for me I kicked myself for not thinking of it years ago.

Quite simply, I market to my motivated sellers, take the calls from them, gather information on the call, and qualify them as real sellers. Then I pass the seller leads on to one of my local wholesale partners, and they visit the property, make the offer, get the contract signed, get the contract sold, and quarterback the closing.

And we split the wholesale fee 50-50 after it closes.

This process eliminates the huge challenges I had with wholesaling.

This completely eliminates the need for me to go look at properties, and it completely eliminates the need for me to know anything at all about repair values or home prices.

All I had to do was get good at marketing and talking to sellers on the phone. Pretty much a perfect fit with having a day job.

How I Can Help

I’ve given you the exact roadmap I used to become a successful real estate wholesaler. If you have the time, you can take it, make it your own, and implement it in your area.

But if you’re time constrained, or if you need to short-cut the learning process, that’s where I come in.

My mentoring program is robust and walks you through each step of the process:

  • How to structure your business
  • How to find the leads in your area
  • How to screen the leads and decide who to mail to
  • How to create a mailing piece that works, in terms of both letters and envelopes
  • When to mail
  • How to set up a follow up schedule for mailings after the initial one
  • What to mail in your follow up sequence
  • How to take the calls, gather information, and qualify callers as a true “motivated seller”
  • How to find the right full time wholesalers in your market to talk to
  • How to pitch them on working with you
  • How to structure the joint venture arrangement with them
  • How many wholesale partners you should work with
  • How to set up a process to track leads you forward
  • How to stay involved with each deal to make sure you get paid
  • Guidance on websites I use and why it might make sense for you to use them

Keep in mind though that this is not a “done for you” program. I provide the detailed guidance and feedback, and it’s up to you to do the work using the templates and other tools that I supply.

At the end of the 12 week program you’ll have all the tools and techniques necessary to be a real estate wholesaler in your market.

Oh – keep in mind that since I’m still working my day job, I do all of my mentoring calls after business hours on weekdays.

Why This Works With a Day Job

When I had my back against the wall, I was out of options while also working a ton of hours as a contract consultant. So I had hardly any time available to do something on the side. So I had to get hyper focused and maximize the use of the time I had. I did that by super simplifying what I was doing. That meant using ONE source of leads, using ONE way to contact them, and ONE way to monetize them.

My process works because there aren’t any variables, decision trees, choices that you need to worry about each week.

You get your leads, screen your leads, process them and send them letters, and take their calls.

That’s it. The process is the same, week in and week out.

Why I’m Doing This

I’ve taught and mentored quite a bit over the course of my career. At my job I’ve created continuing education content for my field, taught certification courses, and mentored quite a few of my direct reports as well.

I was also an adjunct faculty member at a local university here for seven years and taught a variety of business subjects to over 1,000 undergrad and grad students over those years.

I’ve come to really enjoy teaching and mentoring, and experiencing breakthroughs along side the folks I’m teaching. It’s not only gratifying, but I find that I learn a lot as well.

So during the last recession I started selling real estate educational programs online on three topics: how to get started with real estate investing, how to buy your first rental house, and how to buy your first apartment building.

I focused on selling to the mass market and I did pretty well with it actually. Over the years I sold online programs to 2241 people. The money was pretty good, but I got really frustrated when I realized that in reality less that 10% of the folks who buy an online program ever even start it.

I knew that wasn’t really my concern. But the truth is, I had a problem taking money from folks who weren’t going to use my information.

So I shut it down.

And I started exclusively doing one-on-one mentoring. Now I can choose who I work with and make sure the folks I work with get the training and tools they need to reach their goals.

Who This is For

Let me start by describing who this isn’t for.

If the first thing you thought of, or if the main thing on your mind right now is “how much is this going to cost”, then I’m sorry. This is likely not for you.

Sorry for being so blunt. But it’s not because my program is outrageously expensive. It’s not. It’s because I’m looking for folks that have a burning need to do something different. That need to act, and that need to get started yesterday. I’ve found through experience that folks who are preoccupied with price aren’t yet in the right mindset to act, and like I said, I’m not going to take money from folks who may not act on the training they receive, no matter how good it is.

It’s also not for folks who don’t have any money to spend every month. The fact is, you’ll have to pay for leads. You may have to pay for a data source to screen leads, you may want to have a website (helpful, but not required) and you’ll have to pay for the cost of paper, envelopes, and postage. So you need to have enough extra money every month to cover these expenses.

That said, I’m looking for folks to work with who generally fit this profile:

  • Mature adults in their 40s and 50s
  • Working a full time job
  • Topped out, or close to being topped out in their career in terms of income
  • Have high school or college costs that need to be covered
  • Possibly have elder care in their future
  • Don’t have enough saved for retirement
  • Want to add $30,000 to $50,000 per year to their income for whatever reason

Does any of this describe you?

Next Steps

If this sounds like it might be a fit, here are your next steps:

  1. Get the Mentor Program Overview. It’s 15 pages and walks through what we’ll be doing in the program, the cadence of our calls, and what you can expect. It also includes the business setup pre-work for the program that you’ll need to complete. Enter your email address in the box below and I’ll get it out to you. I never share email addresses and you’re not signing up for a mailing list.
  2. Review the Program. Decide if you’d like to move forward and get on a call with me to discuss it.
  3. If you’d like to talk, drop me a line here – Dennis Fassett – and let’s schedule a time to talk.

I promise – there’s no sales pitch. You already know if you need something like this.

And if I have to sell you into the program, then I’ll need to sell you into completing it. And neither of us has time for that.

If  you’d like to learn more about me, I invite you to listen to a podcast I did a few months ago. You can find it here:   Dennis Fassett podcast.

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P.S. Since I mentioned what I have made using these techniques, the FTC requires that I include an earnings disclaimer:

Every effort has been made to accurately represent the services described in this program and it’s potential. In terms of earnings, there is absolutely no guarantee you will earn any money using the techniques and ideas in this material or on this website.

Information presented on this website is not to be interpreted as a promise or guarantee of earnings. Earning potential is entirely dependent on the person using our product, ideas and techniques.

Any claims made of actual earnings or examples of actual results can be verified upon request. All results should be considered atypical. Your level of success in attaining the results claimed in our materials depends on the time you devote to the program, ideas and techniques mentioned, your finances, knowledge and various skills. Since these factors differ according to individuals, we cannot guarantee your success or income level.

Any and all forward looking statements here or on any of our sales material are intended to express our opinion of earnings potential. Many factors will be important in determining your actual results and no guarantees are made that you will achieve results similar to ours or anyone elses. No guarantees are made that you will achieve any results from our ideas and techniques in our material.