Episode 17: Profit Masters: Quick Start Guide
Cory Boatright has started, run, or been directly involved with almost 40 different companies ever since his early twenties. After bringing in almost 4 million dollars in sales from the first company, he sold it and directed his passion to the world of real estate investing.
Well, most of his affluent customers in his first business owned real estate so he knew there was something to be learned in that industry. He was a complete novice to it and didn’t even graduate from high school.
He started as a “bird dog” and quickly learned how much money the investor was making selling the houses he was bringing him. So he quickly learned how to assign, wholesale and flip distressed properties. He then put together a skeleton rehab crew tho his rehab attempts ended up being more of a mirage instead of a real profit center.
Around year 2004 that he stumbled his way through a short sale and made over $30,000 on that first short sale deal!
He soon became known as the local “go-to” guy for doing short sales. After discovering a loophole in the short sale submission process he partnered to create a short sale software that grew to over 5000 users.
Cory has become an International speaker, real estate trainer and coach, book author, private consultant and real estate investor. He also serves on the BOD for a landlord and property investor association in Oklahoma City called ”Millionaire Possibilities” (MPREIA). He’s published in the Wall Street Journal for successful business aptitude and voted #4 in the world out of nearly 30,000 others by Fast Company Magazine Social Influence Project as “Most Influential Marketer”.
The biggest lesson I have learned in life is: “Be a solutions provider by asking how you can serve one another better. The rewards of servanthood are invaluable”- Cory Boatright
What you’ll learn about in this episode:
- Cory’s background and how he got into real estate
- Cory’s three M’s for success
- Why there is no such thing as perfection in real estate investing
- Why you need to take yourself out of the business whenever possible
- Why believing that doing everything yourself saves you money is a giant myth
- Creating a standard operating procedures manual
- Why you have to deduct expenses out of your gross immediately and figure out your net
- Why you need to have potential employees take the Kolbe test — and why you should take it yourself
- Why you absolutely need a coach
- Cory’s coaching program
- Why “I can’t afford to have a coach” is just a bad mindset
- Success stories from Cory’s coaching program