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Get All the Deals You Want
Quick Start Class #3 Get All the Deals You Want Hosted By: Josh Cantwell, CEO of Strategic Real Estate Coach & Freeland Ventures
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What You Get… 4 Live Quick Start Class 3 Live Q&A Classes
12 Live Core Coaching Classes Unlimited Verifiable Pre-Approval Letters (up to $500,000) Lifetime access to members site & Deal Genie Unlimited coaching via the One Flip Facebook Forum Unlimited phone coaching via webinars Retake classes as often as we offer them
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Let’s Review… One Flip Goals: Find 1 Great Deal
Freeland will fund that 1 Great Deal Find 1 Reliable Contractor + 1 Reliable Realtor Have 1 Successful Flip Close with $30-50k Profit (or more!)
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Members Site https://oneflipaway.com/members/ To Do:
You should have received your username & password in a welcome e- mail (if not, check your Spam folder) To Do: Register for all classes Join the One Flip Facebook group & write a post introducing yourself and your goals Review all resources on members site
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Need Help? General Support Questions
Click the “Support” tab on the member’s site to visit our Customer Support Portal Call us at us at
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Now that you know how to get funding, hit up all these resources for your deals
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14 FREE, Offline Resources to Find Deals
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1. Buyers Agents Buyers Agents can effectively find you properties that fit your criteria and it is as no cost for you because they are paid on commission by the seller
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46 Victor Avenue Listed: $60,000 Bought: $37,000 All IN $80,000
Sold on 5/27/16: $117,000 Owned by the Ohio Teamsters Credit Union Foreclosed on and our buyers agent located property Rob Russell
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2. Short Sale Investors & Agents
They focus on short sales and pre- foreclosures Usually in these cases, the home is listed and an offer is made, but it takes 3-4 months for the potential buyer to hear back from the short sale lender and they walk away. This happens multiple times until the asking price is heavily reduced The “sweet spot” are properties that have been listed for at least 180 days because the agent and seller are motivated to unload it.
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3331 Marmore Avenue Owed: $130k Purchased for via Short Sale: $33,000
Wholesaled for: $55,000 Net Profit: $19,800 Referral from Short Sale Agent Out of Town Landlord
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Days on Market Search all properties that have been on the market for a year or more and bid 50% of the asking price, subject to a walk- through of the home
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4. Expired Listings Have a buyer’s agent pull all the listings on the MLS that are recently expired. You can make an offer on every property that has an expired listing and offer all-cash or knock on the door of the seller and let them know you are interested in buying their property, will make an all-cash offer and can close in a week
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5. Pocket Listings Pre-market, Pre-MLS listings
Often when a real estate agent is about to list a property they will give their preferred client first crack
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6. Referrals These can come from family, friends, business associates or your social network You can use things like a bi-monthly newsletter, marketing or direct mail pieces to keep you in the back of their minds and have the conversation remain open Pro Tip: Rewarding referrals with a monetary bonus when the deal closes is also a great incentive for them to keep their eyes and ears open for you.
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7. Real Estate Investor Association (REIA)
Associations that you pay a small membership to be in that are informal gatherings of real estate investors and vendors. Meetings should held once a week or once a month at a local hotel, rec center or library These are a great place to meet other investors, agents, wholesalers, closing attorneys, inspectors, contractors, etc. Just google “real estate investors association in (insert city here)”
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8. Attorneys Probate, General Practice, Real Estate and Divorce attorneys all have clients who are going through divorces, bankruptcy, etc. They know of properties that are off the market with little to no competition
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9. Mortgage Brokers & Bankers
They are in real estate full time as lenders and regularly get leads from sellers who are looking to refinance, but can’t because they have bad credit Brokers can make a marketing fee for introducing you to their lead, so it’s a win for everyone!
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9760 Ridge Road Wholesaler / Attorney Referral Purchase Price: $76,000
Rehab: $15,000 Private Money: $100,000 Cash Back at Closing: $24,000 Cash in Pocket Up Front: $9,000 Sold on Lease Option 4 times $20,000 down $11,000 down $5,000 down Sold in 2 days $139,900 FULL PRICE Net Profit $34,910 + $41,000 Deposits Total Actual Net Profit $75,910 Goal $40,000
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There are 197 land banks over the United States.
Communities like Cleveland, OH or other rust belt cities or cities with blight, have properties that are abandoned. Some counties set up a land bank which takes over these abandoned properties and sells them to investors for a very low cost These properties are owned by someone or a bank and are donating to a land bank who receive the properties for free. The land bank usually allocates about $7-10K to demo properties, so they try to sell some of the properties since they don’t have enough money to demolish them all DID YOU KNOW? There are 197 land banks over the United States.
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Land Bank Deals Jack Petrick: Coaching Student and Maverick Mastermind Member 4615 Burleigh Garfield Hts. Paid $5k, Rehab $25,000, Rent $900/ per month Section 8 5610 South Blvd – Paid $4k Rehab $25,000, Rent $900/ per month Section 8 19205 Longview – Paid $4k 5082 Thomas – Paid $4k
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11. Code Violations Each city has a building department that keeps a running list of buildings with code violations. The list should be public record, so you can call your city building department and see if they will share it with you These properties could have anything from simple code violations to major ones, like fire damage
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12. Sellers/Past Clients Once a deal closes, the seller’s opinion of you will never be higher. Make sure to ask them to keep you in mind for referrals or introductions in the future Add them to your monthly newsletter
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13. Hedge Funds Google and search “Homes for Sale in (insert city here)” or “Real Estate Investing in (insert city here)” Many hedge funds or wholesalers that came into certain markets and started buying properties are now liquidating some of those properties. If you talk to other real estate investors or agents in your area, you can find out if there any hedge funds or private equity funds in your market.
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14. Wholesalers with Tapes
There are wholesalers who buy properties in “tapes”, which is around properties at a time. They usually only want to keep a few for themselves and they will wholesale off the rest
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Homework
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