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Published byArlene Watkins Modified over 9 years ago
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Real Estate Investing Made Easy Brought To You By: www.SamBell3rd.com & www.AtlantaRehabDeals.com
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Who Am I and What Qualifies Me To Talk To You About Real Estate Investing. Before Real Estate I worked as a IT contractor for the U.S. Army Corps of Engineers as a network technician. I'm also by nature as systems person Licensed Real Estate Agent Since 2005 I'm a in the trenches real estate investor. I have personally brought and sold over 5,000,000.00 Dollars worth of real estate and have generated over 1,000,000.00 in profits in the last two years. I have Spent Over $100,000.00 In Real Estate Training Materials and Boot camps I have Made Mistakes
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What Are We Going To Cover? Tools Needed To Get Started Seller Lead Generation Using Online and Offline Tactics Talking To Sellers Making Offers Buyer Lead Generation Using Online and Offline Tactics Talking To Buyers Closing The Deals!
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What Tools Do I need To Get Started In Real Estate? Phone With Unlimited Long Distance (cell Phone) or (Voip Phone Like Vonage) Computer or Laptop With Internet Access (Wal-mart) or Micro center (Under $500) Website (Go daddy or 1 and 1) Fax Machine or (e-fax recommended) Patience and Endurance __________________________________ You Don’t Need an Office, Good Credit Or A Lot Of Money!!
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Seller Lead Generation Online Tactics Step 1 Register A Domain Name With Go daddy Setup Your Web Hosting Service Setup Your Email Auto- Responder Outsource If Techie Challenged Use Free Services- for domain and hosting go to www.000webhost.com For Auto Responders- go to www.freeautobot.com www.sendfree.com www.freefollowup.com
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Seller Lead Generation Online Tactics Step 2 Find FSBO Websites That have homes for sale in your area. Gather Multiple e-mail address and send a generic email with your contact info Find More FSBO Websites and Gather Phone Numbers For Generic VM Blast Post In Forums Where Sellers Maybe Asking Questions, Make Sure Your Website Is In Your Signature For Posting Post Ads We Buy Houses In Free Ad Placement Services Like Craig list
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Seller Lead Generation Offline Tactics Step 1 Business Cards- Are A Must (Office Depot or Print Yourself) Bandit Signs- (fellars 24X18 Corrugated Plastic) The Bald Guy Buys Houses, Any Where Any Condition Flyers- (Grocery Stores Posting, Public Posting Places Classified Ads – (How To Sell Your Home In 7 Days Call For Free Report) or (Behind In Payments? Sam Can Fix It For You My Personal Favorite Direct Mail- Design Mail Peace & Select List To Purchase
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Seller Lead Generation Offline Tactics Step 2 Select Your Target Market (Pre-Foreclosures, Absentee Homeowners, Vacant Home Owners Purchase List From List Brokers (www.responsemaker.com, www.listsource.com, www.melissadata.com,) Use USPS Click 2 Mail to automate sending letters and postcards button style Be Sure To Put Answering Service Phone Number and Website For Sellers On Post Cards
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Seller Lead Generation Tactics Offline Step 2 Examples
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Talking To Sellers First Determine What Is The Seller’s Reason For Selling This Is Critical Ask Probing questions (ex- how long have you been trying to sell, are payments current, how much is owed on the property, will you sell for what you owe). Once You Determine Their Reason For Selling You Must Find Out What they need, And Not What They Want. Ex (I need 1000 for moving money, or I need money for surgery Get as much financial info about the property as possible, payments taxes insurance. This is critical information as well Formulate offer based on sellers answers to your questions
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Making Offers To Sellers Write Offer Based On Sellers Needs & Motivation To Sell Submit Multiple Offers i.e. multiple ways you can buy their home (All cash, owner financing, lease option, or option) If Assigning deal or wholesaling write offer at 60% of ARV- Repairs (You Can Always Renegotiate Later Insert Escape Clause (subject to final inspection, subject to partners approval) Give Yourself as much time as necessary to close deal minimum 30 days, write in 60 days or more from seller.
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Buyer Lead Generation Online Tactics Step 1 Make Sure You Have Pics Of The Property & Full Description (Go the extra mile and Shoot Video Of Property) Send Email Blast To Your List, If You Don’t Have A List Rent One. Post Property For Sale On Multiple Social Networking Sights (Your Tube, Myspace For Video), & Also Free Real Estate Listing Sites(www.RehabList.com, www.HotBargainProperties.com, www.RealEstateInvestor.com, www.AtlantaRehabDeals.com ) Post Property For Sale On Free Ad Services Such As Craig list, Flat Fee Listing Services, FSBO Sites Post Property For Sale On ebay ($cost money$) & Run Online Ads On Google
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Buyer Lead Generation Offline Tactics Step 1 Your Local REIA Group Is A Good Source For Investors Run Classified Ads- (HandyMan Special Cheap Cash 555-5555) Put Out Hand Written Bandit Signs On and Around Property (Investor Special Must Sell Call Now!! 555-5555) (Rent To Own Move In Today!) (Owner Financing Bad Credit Ok!) Post Flyers In Around Location Of Property Round Robin Auctions
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Talking To Buyers First Determine What Type Of Buyer You Are Dealing With- (Investor Buyer, Or Owner Occupant Buyers) If Investor Buyer Ask For Proof Of Funds From Hard Money Lender, Or Proof Of Cash To Purchase. No Conventional Loans When Dealing With Investor Buyers For Rehab Deals If Owner Occupant Buyer Ask For Pre- Qualification Letter From Lender. If They Are Not Preapproved, Get Them Prapproved With Your Loan Officer. Also You Should Know If Buyer Has Cash To Put Down On Property, & How Much. Once Buyer Is Determined To Ready Willing And Able, Then Sign Contract & Collect Earnest Money Submit Contract & Your Buyers Lender Info To Closing Attorney
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Close The Deal Research & Find Investor Friendly Closing Attorney Or Title Company (REIA’s Are A Great Resource For Investor Friendly Attorneys) Submit Executed Contract & Your Buyers Lender Contact Info To The Closing Attorney Or Title Agency Make Sure You Keep In Communication With The Closing Agent To Ensure Everything Is On Schedule
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Get Paid!! Collect Your Check, Be Sure To Make A Copy Of It and Fax It To Me.
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TAKE ACTION NOW! If you think you can do a thing or think you can't do a thing, you're right. - Henry Ford Anyone who stops learning is old, whether at twenty or eighty. Anyone who keeps learning stays young. The greatest thing in life is to keep your mind young. - Henry Ford
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THANK YOU!! For more information visit www.SamBell3rd.com & For the best rehab deals visit www.AtlantaRehabDeals.com
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The Anatomy Of A “No Money Down” Rehab Deal 4291 Oakview Drive Forest Park, Georgia
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Step 1 Find Buyers Setup Website To Catch Name, Email address, Phone Number, And How Much Down Buyer Has To Put Down
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Step 2 Advertise In Local Paper and Online For Rent To Own Home. Make Sure To Put Website URL In All Advertising. Example Ad: 7 Rent 2 Own Homes Bad Credit OK, Move In Today Must Have Small Downpayment!
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Step 3 Prescreen Leads Ask Pre-Qualification Questions, and Make Sure Buyer Has Option Fee.
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Step 4 Send Pre-Qualified Tenant Buyer To Look At Properties. (REO Foreclosures, or Wholesaler Deals)
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Step 5 Put Property Under Contract and Purchase Using Hard Money or Private Funds. Use Option Fee Buyer Gives You Up Front To Pay For Points On Hard Money Loan, and Startup Cost For Contractor
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The Numbers Behind The No Money Down Deal! Option Fee Paid By Tenant Buyer =$5,000.00 1 st and Last Months Rent Collected =$1,600.00 Purchase Price = $36,000.00 Rehab Estimate = $12,500.00 Points and Fees For Hard Money Loan = $3,000.00 After Repaired Value = $90,000.00 Purchase Price Of Tenant Buyer =$86,000.00
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Initial Cost To Get Into Deal And Projected Profit Upfront Money From Tenant Buyer = $6,600.00 Points and Fees For Loan = $3,000.00 Cost To Get Contractor Started = $2,000.00 Money Left Over After Initial Cost = $1,600.00 Project Cost Including Purchase Price And Repairs Repairs $12,500 + Points $3,000 + Purchase $36,000 = $51,500 Purchase Price of Tenant Buyer Minus Upfront Option Fee = Purchase $86,000 – Option fee $5,000 = $81,000 – our cost of $51,500 Projected Profit Not Including Rents = $29,500.00
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