Real Estate Recession Riches - Top 10 Real Estate Investing Tips That Don't Suck!
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Cory MDiv Boatright. Real Estate Recession Riches - Top 10 Real Estate Investing Tips That Don't Suck!
INTRODUCTION
JASON SIMPSON
CHAPTER ONE
HOW A FULL-TIME COP IS MAKING A KILLING INVESTING IN REAL ESTATE…PART-TIME
EDUCATE YOURSELF
FIND THE TIME
EVERYTHING YOU DO IS EITHER MOVING YOU TOWARD YOUR GOAL OR AWAY FROM IT. PERIOD
CASH FLOW
THE BEST WAY TO START THE DAY
TIME MANAGEMENT
FIVE THINGS, EVERY DAY
FRANK AUFIERO
CHAPTER TWO
WHOLESALE YOUR WAY TO THE TOP!
WHOLESALING INVOLVES FINDING A BARGAIN PROPERTY AND PASSING THAT BARGAIN ON TO ANOTHER INVESTOR FOR A PROFIT
FOUR BASIC STEPS TO A SUCCESSFUL WHOLESALE TRANSACTION
“DO I HAVE TO USE MY OWN MONEY?”
ASSIGNMENT IS WHEN YOU HAVE A CONTRACT TO PURCHASE A PROPERTY ANI YOU ASSIGN ALL OF YOUR RIGHTS ANI OBLIGATIONS OF THAT CONTRACT TO SOMEONE ELSE
TYPES OF PROPERTIES TO WHOLESALE
WHO ARE MY BUYERS?
WHICH ARE THE BEST WHOLESALE DEALS?
WHAT CAN I EXPECT TO PROFIT ON A DEAL?
HOW IT WORKS
CHECKLIST FOR WHOLESALING
SETTING UP YOUR COMPANY
BUILD DATABASE 101
USING A PRE-SORT COMPANY
VIRTUAL ASSISTANTS
LOCATE PROPERTIES
DETERMINE THE PROPERTY’S VALUE
HOW DO YOU KNOW HOW MUCH TO OFFER FOR A HOUSE?
REPAIR ESTIMATION EXAMPLE
USING OPTIONS
SO WE HAVE A CONTRACT - NOW WHAT?
BRING IN THE MONEY
BENEFITS OF HAVING A MENTOR
RODNEY MILLER
CHAPTER THREE. HOW I RAISED OVER TWO MILLION DOLLARS IN PRIVATE MONEY
STEP 1: EDUCATE YOURSELF
NOTES AND MORTGAGES
TITLE WORK
INVESTING A RETIREMENT ACCOUNT IN REAL ESTATE
REFERENCE MATERIAL
STEP 2: BUILD CREDIBILITY
DEVELOP REFERENCES
DEVELOP TESTIMONIALS
HIGHLIGHT YOUR PAST PERFORMANCE
HARD MONEY
STEP 3: DEVELOP YOUR LOAN PRODUCT(S)
10% SIMPLE INTEREST-ONLY PAYMENTS WITH A FIVE-YEAR BALLOON LOAN
12% MEZZANINE LOAN
STEP 4: DEVELOP YOUR LENDER PRESENTATION
ELEVATOR SPEECH
THE SIT-DOWN MEETING
THE GROUP PRESENTATION
STEP 5: DEVELOP OUTSTANDING CUSTOMER SERVICE SKILLS
THANK-YOU LETTERS
FOLLOW-UP CALLS
KEEP THEM INFORMED
CARDS
STAY IN TOUCH
SERVICE YOUR LOANS LIKE A PROFESSIONAL
TAKE ACTION AND MOVE FORWARD
CORY BOATRIGHT
CHAPTER FOUR. HOW TO GET A LENDER TO SAY “YES“ TO A REAL ESTATE SHORT SALE. Nine Steps You MUST FOLLOW or Risk Failing
A SHORT SALE HAPPENS WHEN A LENDER AGREES TO THE SALE OF A HOME FOR LESS THAN IS OWED ON THE MORTGAGE
STEP 1: DETERMINE FAIR MARKET VALUE (FMV)
STEP 2: EVALUATE SOLD COMPS SYSTEMATICALLY
EXAMPLE
STEP 3: REVEAL THE ARV (AFTER REPAIR VALUE)
STEP 4: FIGURE OUT THE LENDER’S BPO
STEP 5: WHAT IS THE HOUSE TYPE AND HOW DOES IT AFFECT THE BPO?
ACCEPTABLE
NON-ACCEPTABLE
WHICH DEALS SHOULD YOU PURSUE?
CORY’S SHORT SALE CLASSIFICATIONS
STEP 6: LEARN THE LOAN TYPES
CONVENTIONAL LOANS
FHA LOAN
STEP 7: MEMORIZE THE PERCENTAGES
EXAMPLE #1
EXAMPLE #2
STEP 8: HOW TO DEAL WITH JUNIOR LIENHOLDERS
STEP 9: YOU ARE EDUCATED
ALLEN MOORE
CHAPTER FIVE
LONG-TERM WEALTH THROUGH RENTAL PROPERTIES
HOW I BECAME A LANDLORD
FINDING THE RIGHT RENTAL PROPERTY
BUILDING A REMODELING TEAM
MAKING YOUR GOALS WORK
MOVING FORWARD WITHOUT FEAR
DON’T LET FEAR STOP YOU FROM EARNING WHAT YOU ARE WORTH
ROBERT ELDER
CHAPTER SIX
HOW THE FEDERAL GOVERNMENT HELPED ME TO BE COME A REAL ESTATE MILLIONAIRE
THE FIVE WEALTH SECRETS ALL REAL ESTATE MILLIONAIRES KNOW AND USE
WEALTH SECRET #1: OTHER PEOPLE’S MONEY
WEALTH SECRET #2: BUY CASH FLOW PROPERTIES
THE MOST PREDICTABLE WAY TO GET RICH IS TO BUY AND HOLD CASH FLOW PROPERTIES
WEALTH SECRET #3: REAL ESTATE PRICES GO UP (APPRECIATION)
WEALTH SECRET #4: EQUITY MULTIPLIER EFFECT
WEALTH SECRET #5: THE COOKIE CUTTER METHOD
GETTING GOVERNMENT MONEY
WHAT I LIKE BEST ABOUT THE SECTION 8 PROGRAM
DEVELOP GREAT SYSTEMS
SUMMARY
DEVELOP GREAT SYSTEMS AND CREATE FREEDOM, NOT JUST ANOTHER JOB
JACK WERNER
CHAPTER SEVEN
HOW NOT TO GET BURNED ON A REAL ESTATE TRANSACTION
BE THERE OR BE SQUARE
LEARN ABOUT THE BUILDINGS YOU BUY
QUESTIONS FOR THE INSPECTOR
INSPECTIONS CAN PROVIDE VALUABLE KNOWLEDGE THAT WILL SERVE YOU AS LONG AS YOU CHOOSE TO STAY ACTIVE
TIPS FOR SUCCESS
TONY J. TYLER
CHAPTER EIGHT
THE BASICS OF ADVERTISING AND MARKETING
DEFINE YOUR PURPOSE
THE HEART OF WHY YOU ARE IN BUSINESS - THE ROOT OF WHY YOU DO WHAT YOU DO - MUST NOT BE “WHAT’S IN IT FOR ME?” BUT “WHAT’S IN IT FOR OTHERS?”
DEFINE YOUR COMPANY
DEFINE YOUR IMAGE
DEFINE YOUR GOALS
DEFINE YOUR MARKET
DEFINE YOUR BUDGET
MAKE ADVERTISING AND MARKETING A KEY COMPONENT OF YOUR BUDGET AND FOCUS ON HOW TO KEEP IT IN PLACE DURING SLOW TIMES
DEFINE YOUR FUTURE
BRIAN NIX
CHAPTER NINE
REHABBING HOUSES FOR HUGE PROFITS - HOW I DO IT
BEGIN WITH THE EXIT STRATEGY
MISTAKES TO AVOID
HOW TO FIX A HOUSE
PROFESSIONAL INSPECTION
CONTRACTOR BIDS
HIRE THE RIGHT CONTRACTOR
AVOID PERSONALIZING THE PROFITS AWAY
EVERY DOLLAR YOU UNNECESSARILY SPEND IS ONE LESS DOLLAR YOU GET TO KEEP
FINISHING THE JOB
NANCY RIEG
CHAPTER TEN
OPTION TO AUCTION TO SOLD!
WHY DO THIS?
UNIQUENESS
CREATES A SENSE OF URGENCY
CREATES COMPETITION
BUYER IS IN CONTROL
FUN, NO-PRESSURE BUYING
SYSTEMATIC SELLING PROCESS
HOW IT WORKS
BEFORE THE AUCTION
AUCTION DAY
CONCLUSION
GLOSSARY
Отрывок из книги
If you’re reading this book, it’s safe to say that you are thinking about learning to invest in real estate. Maybe you’re disappointed in what your current investments are doing. The stock market is making a lot of people nervous lately, and that isn’t doing anyone’s retirement account any favors. Maybe you’re looking for a new career, and you heard this might be an exciting way to make loads of money. Maybe you’re not sure why you’re interested, but someone said that you should find out what investing in real estate can do for you.
I get questions all the time from people who want to know how I did it. Then they want to know how THEY can do this - they want to know which area or investment niche they should focus on, and they really want to know how to fit all this into their current lifestyle. I can tell you not only MY story, but I found nine other colleagues who were willing to share THEIR stories to help you get started.
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•What can I do today to find a new deal?
I think you get the point! “What am I going to…”, “How can I…”, etc., are some great ways to begin your “Morning Power Questions”.
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