Transcript Day 3 – Putting It All Together

The
Complete Guide to
Getting
Started
Finding & Analyzing Deals
Day 1
Choosing A Profit Strategy
Day 2
Day 3
Putting It All Together
Day 3
Putting It All Together
Marketing & Internet
Building Your Team
Putting it All Together
Q&A Recap
Marketing
GOALS
At the end of this session, you will be able to:
1. Identify the target audiences
for marketing efforts
2. Explain methods of
communication
3. Explain how to use the Internet to
maximize time/profits
4. Tracking
Day 3 – Putting It All Together
Marketing
Target Marketing
• Find Your Focus
• Don’t target EVERYTHING at once
• Effectively Communicate with:
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Sellers
Buyers
Renters
Private Investors
Wholesale Investors
Day 3 – Putting It All Together
Marketing
Reaching the Audience
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Newspapers
Magazine Ads
Direct Mail
Letters
Billboards
Signs
Internet
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TV/Radio
Telemarketing
Drive By
Door Hangers
Flyers
Business Cards
2 Step Campaigns
Day 3 – Putting It All Together
Marketing
Considerations
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Most People for Least Money
Reach the right people
Know your customer
Know your competition
Know yourself!
Be able to handle the volume
Answer the phone
Day 3 – Putting It All Together
Marketing
Internet
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Accessibility to Information
Less dependency on Realtors
Can work from home
Work smart, not hard
Find anything at any time
• Search Engines
• Search by Subjects
• Locate Contacts
Day 3 – Putting It All Together
Marketing
Web Site
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Your real estate “store front”
Credibility
Privacy
Education
Costs
• Registration
• Hosting
• Traffic
Day 3 – Putting It All Together
Marketing
Tracking Results
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Response versus Return
System in place to manage
Organization
Follow up and follow through
• If you’re not doing it, someone else
is getting the deal!
Day 3 – Putting It All Together
Marketing
SESSION REVIEW
What we covered this session:
1. Finding your target market
2. Methods of communication to
reach your audience
3. How to use the Internet to maximize
time/profits
4. Tracking your progress
Day 3 – Putting It All Together
Day 3
Putting It All Together
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Marketing & Internet
Building Your Team
Putting it All Together
Q&A Recap
Building Your Team
GOALS
At the end of this session, you will be able to:
1. Understand the team approach to
Real Estate Investing
2. Determine who needs to be on
your team
3. Considerations for Team
Members
Day 3 – Putting It All Together
Building Your Team
Team Approach
• Rely on professionals that know
more than you!
• You CANNOT do it alone
• Too many details
• Leverage
• Work smart, not hard!
• Joint Venture v. Partnership
Day 3 – Putting It All Together
Building Your Team
Members of the Team
• Realtor
• Escrow Agent
• attorney/title company
• Lenders
• Brokers
• Surveyors
• Appraisers
Day 3 – Putting It All Together
Building Your Team
Members of the Team
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Inspectors
Other Investors
Hard Money Lenders
Renovation People
Insurance Agents
Management Companies
Architects/Structural Engineers
Day 3 – Putting It All Together
Building Your Team
Members of the Team
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Discount Materials Dealer
Runners/Helpers
Financial Advisor
CPA
Attorneys
Mentors
Partners
Day 3 – Putting It All Together
Building Your Team
SESSION REVIEW
What we covered this session:
1. The team approach to Real Estate
Investing
2. Who needs to be a part of your
team
3. Considerations for Team Members
Day 3 – Putting It All Together
Day 3
Putting It All Together
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Marketing & Internet
Building Your Team
Putting it All Together
Q&A Recap
Putting It All Together
GOALS
At the end of this session, you will be able to:
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Identify the steps to get started
Summarize key negotiation points
Overcome seller objections
Pre-qualify sellers and structure
creative offers
Day 3 – Putting It All Together
Putting It All Together
30 Day Quick Start
• Build a database of 30 Investors
• Build a database of 3 Hard Money
Lenders
• Locate at least 1 good RE Agent
• Call on 1 property/day
Day 3 – Putting It All Together
Putting It All Together
30 Day Quick Start
• One property in 30 days
• Minimum $3K profit
• 1 in 20 rule applies
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Call 20
10 Motivated
5 Offers
1 Accepted
Day 3 – Putting It All Together
Putting It All Together
Steps for Each Deal
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Call
Pre-qualify before viewing
View
Qualify after viewing
Offer/Counter-offers
Acceptance
Due Diligence
Day 3 – Putting It All Together
Putting It All Together
Steps for Each Deal
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Call
Pre-qualify before viewing
View
Qualify after viewing
Offer/Counter-offers
Acceptance
Due Diligence
Day 3 – Putting It All Together
Putting It All Together
Scenario 1
• Newspaper Ad
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Motivated Seller
Pre-foreclosure
Must Sell
$15,000 Below Appraisal
Call (305) 444-9559
Day 3 – Putting It All Together
Putting It All Together
Scenario 2
• Direct Mail Response
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Owner lives in Colorado
House in Florida
Has tenant that isn’t paying
Owes $46,000
Wants $70,000
Day 3 – Putting It All Together
Marketing
SESSION REVIEW
What we covered this session:
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The steps to get started
Key negotiation points
How to overcome seller objections
How to pre-qualify sellers and
structure creative offers
Day 3 – Putting It All Together
Day 3
Putting It All Together
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Marketing & Internet
Building Your Team
Putting it All Together
Q&A Recap
Q&A Recap – Day One
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Creating Wealth with Real Estate
Finding Deals
• Motivated Sellers
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• Where to Find Deals
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• Targeting Sellers
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Evaluating Discount Property
Evaluating Income Property & Cash Flow
Financing With No Money Down
Conventional Financing
Day 3 – Putting It All Together
Q&A Recap – Day Two
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From Contract to Closing Table
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Business Entities
Contracts
Managing Exit Strategies
• Motivated Sellers
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• Where to Find Deals
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• Targeting Sellers
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Day 3 – Putting It All Together
Q&A Recap – Day Three
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Hands On
Marketing & Internet
Building Your Team
Putting It All Together
Q&A - Recap
Day 3 – Putting It All Together
The
Complete Guide to
Getting
Started
Finding & Analyzing Deals
Day 1
Choosing A Profit Strategy
Day 2
 Putting It All Together
Day 3