s4e52 The Journey from 9-5 to Financial Freedom with David McGrady

The Art & Science of Real Estate Negotiation

Welcome to the Get Traction Podcast, a show aimed at educating aspiring real estate entrepreneurs. Today, Tom welcomes to the podcast real estate entrepreneur, David McGrady, who shares insights and stories he’s experienced while wholesaling. David talks about being consistent in your marketing and the importance of not letting fear prevent you from making offers. He opens up about the amount of work required to become a successful wholesaler and shares the craziest story from his real estate investment journey. Finally, David provides best practices for building rapport with your buyers and advice for those looking to break into the industry.

Key Takeaways

• 00:34 – Tom introduces today’s guest, David McGrady who joins the show to talk about his experience as a real estate investor and his goal of achieving financial freedom
• 06:14 – David talks about how he identifies motivated sellers consistently
• 09:02 – Consistency in marketing
• 17:15 – Negotiating deals
• 19:21 – David talks about not letting fear dictate your strategy as a real estate investor
• 23:23 – The amount of work that goes into an average wholesale deal
• 31:01 – David shares one of his craziest deals ever
• 32:31 – Challenges and obstacles that David had to overcome early in his real estate investment career
• 33:34 – Balancing the entrepreneurial lifestyle
• 38:17 – How David has improved as a negotiator and the importance David places on active listening
• 46:12 – Other tactics David has employed to build rapport with motivated sellers
• 57:30 – Tom thanks David for joining the show

Tweetable Quotes

“Finding a way to have financial freedom is by far my number one goal. That is something that, as an at-will employee, I have no control over my job. And to be able to take control is something I’d like to have in the future.” (02:38)

“If there’s a motivated seller and you hit them at the right time, it [a deal] could happen instantly.” (06:07)

“I mean you can’t stop marketing, no matter what you do. Your course teaches that. Be consistent with your marketing because when you take your eye off the marketing piece because you have a deal you’re trying to work, you might be two months from your next deal. So that’s really, really important.” (09:09)

“Wholesale is work. It’s not a get rich quick. You do have to put in quite a bit of work and I think you’ll see the benefits.” (23:14)

“I think finding that mentorship is super important. I think it’s something that’s really understated. But finding a good mentor that will continue to push you, to call when you have issues, to get through hang ups, I think that’s one of the biggest things.” (32:44)

“It’s amazing, truly amazing, how many different ways in this world that you can make money.” (37:55)

“One of the most powerful statements that we’re using right now is, ‘I might not be the right solution for you, but I will tell you everything that I know to get you there.’” (46:22)

Links Mentioned

Tom’s LinkedIn

Tom’s Website

Tom’s Bootcamp

Get Traction Podcast

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