Painless Wholesaling w/Nathan Payne
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Episode Description
Welcome to the Freedom Point Real Estate podcast! Today's guest, Nathan Payne, draws from years of hard work and experience to share valuable insights on starting with caution, pursuing a clear vision, and turning mistakes into lessons for success.
Nathan Payne is an entrepreneur, real estate coach, and co-owner of Offer On Homes and Investor Thrive. With a mission to simplify real estate wholesaling, Nathan has pioneered tools like the Payneless Planner, Payneless Calculator, and the Payneless Flipping Club. His innovative programs, including the Payneless Flipping Masterclass and Investor Thrive VA Services, equip aspiring investors with the skills, resources, and mentorship needed to excel in real estate. From his beginnings in door-to-door sales and managing his own music venue, Nathan's journey reflects his passion for entrepreneurship and service. Today, he’s a trusted mentor for those looking to streamline real estate deals and build lasting success in a competitive market.
CONNECT WITH NATHAN PAYNE!
Website: https://investorthrive.com/
LinkedIn: https://www.linkedin.com/in/nathan-payne-aa05b158/
Youtube: https://www.youtube.com/channel/UCWFne3oh5MZgWoJ5H-aGQXA
Facebook Group: https://www.facebook.com/groups/payneless?utm_source=Youtube&utm_medium=Description&utm_campaign=Link
Book a Call: https://www.paynelessflipping.com/learn-morebook-a-call-new
CONNECT WITH JEREMY DYER!
Website: https://startingpointcapital.com/
Instagram: https://www.instagram.com/startingpointcapital/
LinkedIn: https://www.linkedin.com/in/jeremydyer
Facebook: https://www.facebook.com/startingpointcapital
Book a Call! https://calendly.com/startingpointcapital/discuss-investing-with-jeremy-dyer?month=2023-12
Summary
Tip #1: Understand Wholesaling Basics
"If people don't know what wholesaling is, it's when you get a house under contract and sell your rights to buy that property for a fee, so you never own it."
Wholesaling can be a powerful entry point for real estate investing, requiring little upfront capital. Nathan simplifies the concept and emphasizes the importance of understanding the fundamentals. Aspiring investors should focus on learning legal and logistical aspects to minimize risks, such as ensuring a clear contract and understanding local regulations, as demonstrated by his squatter experience in California.
Tip #2: Always Verify Property Conditions Before Purchase
"Now knowing what I know, I'm going to verify if there's a squatter in a house before I buy in California."
Nathan’s story about unknowingly buying a property with a squatter highlights the critical importance of due diligence. Before committing to a deal, investors must inspect properties thoroughly and research state laws, particularly in regions with strict tenant or squatter rights. Being proactive can save time, money, and legal headaches.
Tip #3: Start Small and Scale Gradually
“I started with zero dollars and grew to doing millions of dollars in transactions, all through trial and error."
Nathan’s journey showcases the power of starting with what you have and scaling over time. For new investors, focusing on smaller deals and learning through manageable risks can help build confidence and expertise. Persistence and adaptability, as seen in Nathan’s approach, are key to long-term success.
Tip #4: Focus on Skill Development Over Marketing Spend
"A lot of people will drop $5,000 to $15,000 on marketing but won't be able to convert leads because they're not skilled enough yet."
Investing in education and practice is often more effective than spending heavily on marketing upfront. Nathan advises building the necessary negotiation and sales skills before committing to large marketing budgets. This approach ensures you can convert leads effectively and avoid wasting resources.
Tip #5: Take Action Consistently
"As long as you're out there taking action, you'll find out what works."
Nathan emphasizes the importance of consistent action in real estate investing. Knowledge is essential, but it’s the willingness to act that leads to results. By actively engaging with deals, networking, and problem-solving, investors can adapt to market shifts and refine their strategies.
Tip #6: Track Your Efforts to Avoid Stagnation
"I think a lot of us think we're doing way more than we really are…if you're not tracking, you don't know."
Tracking your activities, both in business and personal life, can reveal where your efforts are falling short. Nathan highlights the importance of measurable goals and accountability in overcoming stagnation. Tools like spreadsheets or habit-tracking apps can help ensure time and energy are spent effectively.
Tip #7: Create a Balance Between Work and Personal Life
"I see my wife all the time, but are we really connecting? Now I keep track of how much we're actually building the relationship."
Personal relationships can often take a backseat in the hustle of business. Nathan’s approach of measuring quality time with his wife reflects the importance of intentionality in nurturing personal connections. Entrepreneurs should schedule dedicated, undivided time for loved ones to create a balanced, fulfilling life.
Tip #8: Adapt to Market Changes Through Hands-On Learning
"The concept is easy, but when you run into certain situations like a squatter, there are things you need help with."
Real estate markets and challenges evolve, requiring investors to stay adaptable. Nathan’s apprenticeship model teaches participants how to handle complex situations hands-on. This experiential learning helps investors gain confidence in problem-solving and adapting to unforeseen issues.
Tip #9: Leverage Community and Mentorship
"We have an apprenticeship where we guide people through a four- to five-step process and help them one-on-one."
Mentorship and community support are invaluable for accelerating success. By joining groups like Nathan’s Painless Flipping, investors can learn from others’ experiences, avoid common mistakes, and receive guidance during challenging situations. Surrounding yourself with knowledgeable peers fosters accountability and growth.
Tip #10: Embrace Stillness for Clarity
"I want to get a little more comfortable with being still...and not so anxious to always be doing something."
Nathan’s goal of embracing stillness underscores the value of reflection for clarity and mental health. In a fast-paced industry, taking time to think deeply and unplug can help recharge and generate fresh ideas. Regular practices like meditation or quiet time can enhance creativity and decision-making.
