The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit...

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The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit Strategy Day 3 Putting It All Together

Transcript of The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit...

Page 1: The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit Strategy Day 3 Putting It All Together.

The

GettingComplete Guide to

StartedDay 1

Finding & Analyzing Deals

Day 2

Choosing A Profit Strategy

Day 3

Putting It All Together

Page 2: The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit Strategy Day 3 Putting It All Together.

Day 3

Putting It All Together

Marketing & Internet

Building Your Team

Putting it All Together

Q&A Recap

Page 3: The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit Strategy Day 3 Putting It All Together.

At the end of this session, you will be able to:

1. Identify the target audiences for marketing efforts2. Explain methods of

communication3. Explain how to use the Internet to

maximize time/profits4. Tracking

GOALS

Day 3 – Putting It All Together

Marketing

Page 4: The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit Strategy Day 3 Putting It All Together.

Target Marketing

Marketing

• Find Your Focus• Don’t target EVERYTHING at once

• Effectively Communicate with:• Sellers• Buyers• Renters• Private Investors• Wholesale Investors

Day 3 – Putting It All Together

Page 5: The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit Strategy Day 3 Putting It All Together.

Reaching the Audience

Marketing

• Newspapers• Magazine Ads• Direct Mail• Letters• Billboards• Signs• Internet

Day 3 – Putting It All Together

• TV/Radio• Telemarketing• Drive By• Door Hangers• Flyers• Business Cards• 2 Step Campaigns

Page 6: The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit Strategy Day 3 Putting It All Together.

Considerations

Marketing

• 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

Page 7: The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit Strategy Day 3 Putting It All Together.

Internet

Marketing

• 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

Page 8: The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit Strategy Day 3 Putting It All Together.

Web Site

Marketing

• Your real estate “store front”• Credibility• Privacy• Education• Costs

• Registration• Hosting• Traffic

Day 3 – Putting It All Together

Page 9: The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit Strategy Day 3 Putting It All Together.

Tracking Results

Marketing

• 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

Page 10: The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit Strategy Day 3 Putting It All Together.

Day 3 – Putting It All Together

Marketing

What we covered this session:

1. Finding your target market2. Methods of communication to

reach your audience3. How to use the Internet to maximize

time/profits4. Tracking your progress

SESSION REVIEW

Page 11: The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit Strategy Day 3 Putting It All Together.

Day 3

Putting It All Together

Marketing & Internet

Building Your Team

Putting it All Together

Q&A Recap

Page 12: The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit Strategy Day 3 Putting It All Together.

At the end of this session, you will be able to:

1. Understand the team approach to

Real Estate Investing2. Determine who needs to be on

your team3. Considerations for Team

Members

GOALS

Day 3 – Putting It All Together

Building Your Team

Page 13: The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit Strategy Day 3 Putting It All Together.

Team Approach

Building Your Team

• Rely on professionals that know more than you!

• You CANNOT do it alone• Too many details

• Leverage• Work smart, not hard!

• Joint Venture v. PartnershipDay 3 – Putting It All Together

Page 14: The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit Strategy Day 3 Putting It All Together.

Members of the Team

Building Your Team

• Realtor• Escrow Agent

• attorney/title company• Lenders

• Brokers• Surveyors• Appraisers

Day 3 – Putting It All Together

Page 15: The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit Strategy Day 3 Putting It All Together.

Members of the Team

Building Your Team

• Inspectors• Other Investors• Hard Money Lenders• Renovation People• Insurance Agents• Management Companies• Architects/Structural Engineers

Day 3 – Putting It All Together

Page 16: The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit Strategy Day 3 Putting It All Together.

Members of the Team

Building Your Team

• Discount Materials Dealer• Runners/Helpers• Financial Advisor• CPA• Attorneys• Mentors• Partners

Day 3 – Putting It All Together

Page 17: The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit Strategy Day 3 Putting It All Together.

Day 3 – Putting It All Together

Building Your Team

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

SESSION REVIEW

Page 18: The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit Strategy Day 3 Putting It All Together.

Day 3

Putting It All Together

Marketing & Internet

Building Your Team

Putting it All Together

Q&A Recap

Page 19: The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit Strategy Day 3 Putting It All Together.

At the end of this session, you will be able to:

1. Identify the steps to get started2. Summarize key negotiation points3. Overcome seller objections4. Pre-qualify sellers and structure

creative offers

GOALS

Day 3 – Putting It All Together

Putting It All Together

Page 20: The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit Strategy Day 3 Putting It All Together.

30 Day Quick Start

Putting It All Together

• 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

Page 21: The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit Strategy Day 3 Putting It All Together.

30 Day Quick Start

Putting It All Together

• One property in 30 days• Minimum $3K profit

• 1 in 20 rule applies• Call 20• 10 Motivated• 5 Offers• 1 Accepted

Day 3 – Putting It All Together

Page 22: The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit Strategy Day 3 Putting It All Together.

Steps for Each Deal

Putting It All Together

• Call• Pre-qualify before viewing• View• Qualify after viewing• Offer/Counter-offers• Acceptance• Due Diligence

Day 3 – Putting It All Together

Page 23: The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit Strategy Day 3 Putting It All Together.

Steps for Each Deal

Putting It All Together

• Call• Pre-qualify before viewing• View• Qualify after viewing• Offer/Counter-offers• Acceptance• Due Diligence

Day 3 – Putting It All Together

Page 24: The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit Strategy Day 3 Putting It All Together.

Scenario 1

Putting It All Together

• Newspaper Ad• Motivated Seller• Pre-foreclosure• Must Sell• $15,000 Below Appraisal• Call (305) 444-9559

Day 3 – Putting It All Together

Page 25: The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit Strategy Day 3 Putting It All Together.

Scenario 2

Putting It All Together

• Direct Mail Response• 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

Page 26: The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit Strategy Day 3 Putting It All Together.

Day 3 – Putting It All Together

Marketing

What we covered this session:

• The steps to get started• Key negotiation points• How to overcome seller objections• How to pre-qualify sellers and

structure creative offers

SESSION REVIEW

Page 27: The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit Strategy Day 3 Putting It All Together.

Day 3

Putting It All Together

Marketing & Internet

Building Your Team

Putting it All Together

Q&A Recap

Page 28: The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit Strategy Day 3 Putting It All Together.

Q&A Recap – Day One

Creating Wealth with Real Estate

Finding Deals

• Motivated Sellers

• Where to Find Deals

• Targeting Sellers

Evaluating Discount Property

Evaluating Income Property & Cash Flow

Financing With No Money Down

Conventional Financing

Day 3 – Putting It All Together

Page 29: The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit Strategy Day 3 Putting It All Together.

Q&A Recap – Day Two

Contracts

From Contract to Closing Table

• Motivated Sellers

• Where to Find Deals

• Targeting Sellers

Managing Exit Strategies

Business Entities

Day 3 – Putting It All Together

Page 30: The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit Strategy Day 3 Putting It All Together.

Q&A Recap – Day Three

Hands On

Marketing & Internet

Building Your Team

Putting It All Together

Day 3 – Putting It All Together

Q&A - Recap

Page 31: The Getting Complete Guide to Started Day 1 Finding & Analyzing Deals Day 2 Choosing A Profit Strategy Day 3 Putting It All Together.

The

GettingComplete Guide to

StartedDay 1

Finding & Analyzing Deals

Day 2

Choosing A Profit Strategy

Day 3

Putting It All Together