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Published byValerie Dennis Modified over 9 years ago
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Special Operations Mastery Event June 16
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Review Money Tasks Vs. Optimization Tasks Special Operations Mastery Event 2013
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Optimize Profit Buying Criteria IRAs Private Money Outsourcing Fortris Rehab Network Special Operations Mastery Event 2013
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Optimize Profit Trailer Conversion Cashing in on Overages Markets for Buying Generational Wealth Special Operations Mastery Event 2013
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Buying Criteria Deeds 60% of repaired value minus repairs cost Don’t have to pay more, keep looking Residential or Commercial Special Operations Mastery Event 2013
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Buying Criteria Liens to Redeem and pay int 30% of estimated value Residential or Commercial Special Operations Mastery Event 2013
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Buying Criteria Liens to Become Deeds % of estimated value depends – Luzerne 225k value 19k tax – Newburg NY 395k value 150k tax Residential or Commercial Special Operations Mastery Event 2013
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Investing With IRA REAL Self-Directed Custodian – Camaplan.com Roth or Regular Check Writing LLCs owned by IRA Special Operations Mastery Event 2013
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Investing With IRA Saves a TON of MONEY in taxes whether you are flipping or holding UBIT Self Dealing Special Operations Mastery Event 2013
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Investing With IRA How to invest with IRA – Fill Form – Don’t mingle money – Proceeds back to IRA – Income to IRA (rentals) Special Operations Mastery Event 2013
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Private Money Don’t Take It Lightly Don’t Sign Personally They Need to Make Adult Decisions About the Deal ALWAYS SECURE THE MONEY Get them Out Soon, Don’t Drift Special Operations Mastery Event 2013
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Private Money Common Arrangement They lend for Interest They partner in deal You Fly they Buy, split profit – How many of these do you need to be independent? Special Operations Mastery Event 2013
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Private Money How to Present Balance Info, Not Too Much Price, Repairs, Value, Repaired Comparable sales, Comparable Actives One Page for Specific Deal Special Operations Mastery Event 2013
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Private Money How to Present If you have no deals, Forget the Credibility Kit. Waste of Time Special Operations Mastery Event 2013
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Private Money How to Transact Private money Instruction letter to Attorney (example) They Preview Note beforehand Even if partner, secure money with note Prevents Problems Special Operations Mastery Event 2013
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Private Money Summary It’s only Leverage if used correctly You better know what you’re doing Get Experienced Partner Private Money uses IRAs Special Operations Mastery Event 2013
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Outsourcing CAN BE HUGE MONEY MAKER Leverage Labor for tasks that help you make money Must measure the Cost vs Return WHEN should start outsourcing? Special Operations Mastery Event 2013
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Outsourcing Tasks for outsourcing Get List (Command Center) Filter List land vs structure – Support Ticket or you hire own Hand you list ready to evaluate – Must Evaluate and Monetize! Special Operations Mastery Event 2013
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Outsourcing Who to hire? – Someone local – 123Employee.com – Easy Payment Reliable and Consistent Some Tech Skills, English Use Fortris video to train them Special Operations Mastery Event 2013
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Fortris Rehab Network Nationwide Vendor Network Taking Advantage of Volume You’re in by coming to event Order through Fortris and get 20% off most material Special Operations Mastery Event 2013
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Fortris Rehab Network Details will come – Site to choose products – Instructions on how to purchase – Policies..etc.. Look for emails Special Operations Mastery Event 2013
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Cashing in on Overages Property Owner is owed difference from Foreclosed bid and tax amount owed County doesn’t do a good job of contacting them Special Operations Mastery Event 2013
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Cashing in on Overages Get List of Foreclosed Property Look at case # to see how many were involved, have to find ALL Find people on list – Friends – Family – Last known addresses Special Operations Mastery Event 2013
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Cashing in on Overages Mail them & call them Get them to believe you “Hi I have money for you, I promise I’m not a Nigerian Scam” Special Operations Mastery Event 2013
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Cashing in on Overages They sign paperwork Submit to county clerk Wait for county clerk Submit to county clerk Court says Yes Special Operations Mastery Event 2013
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Cashing in on Overages Submit to county treasurer Wait for county treasurer Submit to county treasurer Wait for county treasurer Check shows up Deposit check, send to client Special Operations Mastery Event 2013
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Cashing in on Overages Cons & Pros Response rate is low Some counties try to limit fee Hard to find people without expertise even on internet Know how to work county Special Operations Mastery Event 2013
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Cashing in on Overages Cons & Pros Selling money is a nice product You don’t need real estate eval experience Will never go away Special Operations Mastery Event 2013
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Cashing in on Overages Summary Hard, not sure we’re going to keep doing it when other things are making more money Special Operations Mastery Event 2013
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Markets - Where to Buy “Where” to look depends on what you can do (investor type) If investor type limits you to certain strategies, learn what states don’t facilitate that strategy FL & NC for example Special Operations Mastery Event 2013
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Markets - Where to Buy Look at tax sale calendar (cc) Can you pursue strategies for the upcoming auctions? Look at markets within that state to narrow down the counties to get lists in – Rising tides Special Operations Mastery Event 2013
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Markets - Where to Buy Jobs = Industry moved in People coming or going? Income level Near bigger City? Special Operations Mastery Event 2013
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Markets - Where to Buy City-data.com NACO.org Make your own “WHERE” by immersing in the calendar and seeing what strategy you can apply Special Operations Mastery Event 2013
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Trailer Conversion How you can get trailers in tax sales Convert to Financable property All About the Foundation Are there enough to go around? Special Operations Mastery Event 2013
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Trailer Conversion Contacts in Command Center – Engineering contact – HUD approved contractor – De-license the trailer – Discussion video – Call Fortris Special Operations Mastery Event 2013
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Success Tasks Reviewing Lists is everything List Management is the MONEY Find Properties – All exits rely on this Outsource if necessary Must Become Routine! Special Operations Mastery Event 2013
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Success Tasks Save with IRAs Do deals with Money Partners Save on Rehab Costs Can turn trailer lemons into lemonade Special Operations Mastery Event 2013
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Generational Wealth Passive Income Work Once, Keep Getting Paid Think Longer Term The Next, Next Special Operations Mastery Event 2013
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“ At One Point in Your Life You Either Have the Thing you Want or the Reasons Why You Don't “ -Andy Roddick No Excuses Special Operations Mastery Event 2013
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