2: Going All Out to Secure Deal #1 (For Sale By Owner!) with Tim Goutos

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 11 March 2020

⏱️ 67 minutes

🔗️ Recording | iTunes | RSS

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Summary

Ever felt like you're close to breaking into real estate investing, but not quite getting anywhere? Today's guest, Tim Goutos, was right there with you. But after taking a trip abroad to clear his head, Tim narrowed his focus and went ALL-OUT in pursuit of his first deal. He talked to everybody about his goal. He went driving for dollars in his hometown of Lake George, NY. Then, after seeing a For Sale By Owner (FSBO) sign, he called the owner on the spot. What happened next? You'll hear the story in today's episode of the Real Estate Rookie Podcast. We'll cover how to manage fear when making a cold call, how to crunch the numbers using government tax records, and how to protect yourself against the worst-case scenario. Plus -- if you know anyone who got burned in 2007-08.. or worry you'll meet the same fate... you'll connect with Tim's story. He had a close relative who lost out in the last downturn, so he had every reason to stay far away. Instead, Tim learned all he could and put together a more conservative game plan. "Captain Tim" is a relatable, down-to-earth guy... and you can learn a lot from his approach of looking to "get on base" rather than hit a home run right away. Tell us what you think of this episode in the Real Estate Rookie Facebook group, and subscribe to the podcast in your favorite podcast app so you won't miss the next show! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is real estate rookie show number two.
0:04.0	But I said, there's got to be something for sale that's either off the market or not listed or for
0:14.6	sale by owner I was like I'm gonna start talking to the mailman I'm gonna go to the
0:18.1	post office I'm gonna talk to the nice people at the town you know these are small
0:22.2	towns where I live by the way, you know, only a couple
0:23.9	thousand people Max who live in this town, so you talk to the butcher like literally or if you walk
0:28.0	into the diner and start asking around, like somebody's going to know somebody who might be trying
0:31.4	to sell something. You're listening to the real estate rookie podcast. I'm your co-host Ashley Kerr and he's your co-host,
0:45.6	Beliathia. Ashley, what a great episode we have today. I love the way he talks about
0:51.1	using his friends to help him with some of his builds.
0:54.1	I know sometimes that might be embarrassing to ask for help.
0:56.7	I love that he just jumped right in and his buddies helped him.
0:59.2	That's a good, that's good friends to have, you know?
1:01.2	Yes, Tim is gonna bring great value to everyone
1:04.5	today one of my favorite things was how he had a family member that
1:10.4	experienced the 2008 recession and lost in real estate and yet here Tim is you know diving into real estate and got his first deal done.
1:18.8	Yeah it blew my mind. I feel like he almost used that to you know do better and then he also talks about a three month
1:25.0	trip he took out you know out of the country to clear his mind and get himself ready for real estate
1:29.7	investing I can't wait till our listeners are here that one. Yeah, that is pretty amazing that, you know, he was gone, he did all this research and then comes back and gets his first deal right under contract.
1:40.0	So it's a great story.
1:42.0	I just want to mention before we bring them on that we have a great Facebook group for you guys if you want to join in to search real estate rookie on Facebook and every day, you know, Felipe and I are on there.
1:54.2	We have people posting, asking questions and giving great advice.
	...

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