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what is CRM??
use realeflow as a sample database
act and goldmine tracking
what is act?? ....................... get ACT! here
what is goldmine?? ................get GOLDMINE here
there is other CRM software, but these are the recommended ones.....
use realeflow as a sample database
act and goldmine tracking
what is act?? ....................... get ACT! here
what is goldmine?? ................get GOLDMINE here
there is other CRM software, but these are the recommended ones.....
some tips when doing the negotiation...
- use the most outrageous repair estimates
- worst comps
_craigslist
backpage
vast.com
kijiji.com
gosection8
socialserve.com
militarybyowner.com
owners.com - may be cocky (retail)
foresalebyowner - may be cocky (retail)
look for keywords: desperate / motivated / must sell / looking to sell / death / divorce / have to sell
backpage
vast.com
kijiji.com
gosection8
socialserve.com
militarybyowner.com
owners.com - may be cocky (retail)
foresalebyowner - may be cocky (retail)
look for keywords: desperate / motivated / must sell / looking to sell / death / divorce / have to sell
go to network meetings and auctions where they are buying houses.
go to the courthouse and see who's buying foreclosures...
stop them and say: "I see the properties you're buying, I see the price you're buying them at, if I could find them a little cheaper, is there any reason you wouldn't buy from me?"
go to the courthouse and see who's buying foreclosures...
stop them and say: "I see the properties you're buying, I see the price you're buying them at, if I could find them a little cheaper, is there any reason you wouldn't buy from me?"
probate daily is a source that provides fresh probate leads.
|
ABSENTEE = yellow postcard -- possible to have done online @
click2mail I've been trying to get ahold of you for the past few weeks regarding your property at... Unfortunately, I've not been successful in contacting you, so as a last resort I've sent you this postcard in hopes that you will respond back soon. I did some research in the public records department and found that you did not live at the property and wanted to find out if you were thinking of selling it. I want to make things as easy as possible for us to do business. I'm not sure of the condition inside, but it would not be a problem if the property needed some work. I would also buy the property with tenants there so you won't have to ask them to move out and I'll even be willing to help you pay for all of your closing costs on the transaction. |
if you can get stuff cheap enough - then it really doesn't matter what you do with it
WHOLESALING IS KEY (amongst other things that make you money)
commercial wholesaling = largest profit potential
"DOUBLE CLOSE"
if they can't do it, make your buyers sign an addendum
you can take your wholesale profits and 1031 exchange them into more properties (rentals or fix/flip)
do $10 earnest deposits to make it legal
FUNDING
use VIRTUAL ASSISTANTS to leverage your time ( example: @$2.00 hr. )
elance
guru
odesk
1. perform MARKET RESEARCH
city-data
best places
spot crime
hpapts - nations largest apt sales & research firm
housing intelligence - reliable economic, demographic & home sales data
while performing due diligence, contact an REO buyers agent and ask - what % of your client base is investors?
if over 50%, ask them to send you a report of the closes amongst zip codes
find out which zip code has the most closes for investors
any market after a while will get saturate so you'll have to expand.
you want to work in the market where investors are actually buying properties.
2. choose a method of FUNDING
transactional funding requires that you have a PROPERTY UNDER CONTRACT + A BUYER
there will be a fee $1500 - 6000 depending on the amount of the loan
hard money = scotsmanguide - lender research
GET A LIST OF QUALITY BUYERS
build a buyers list
you can find out who's paying cash for deals - it's public information
listsource.com - existing or out of state landlords
use socialserve.com to build a buyers list = section 8 landlords
they are looking for rental property to own and also own rental property
you can also use gosection8.com
reverse wholsesale - find the buyer first
you can get properties for under 50k in st.louis, MO
find REO properties.
reo = bank owned (foreclosure)
ocwen.com = foreclosure listings
homesales.gov = homes for sale by u.s. govn't
resales.usda.gov = usda homes for sale
firstpreston.com
bidselect.com = hud foreclosures
homesteps.com
you can wholesale REO
NOT REO >> assignment
it's REO >>LLC >> CASH BUYER (sell ur business)
or
REO >> LAND TRUST >> CASH BUYER
or
REO >> DOUBLE CLOSE >> CASH BUYER
always verify your ARV with an appraiser
do not buy properties in an area where there are 3 or less comps
work in a niche market > few zip codes
you can also send out a contractor or handyman to get you a bid and market the property with a bid
find you contractors or handymen at
angies list
nahb.org
before you buy the property - make sure it's something that your end buyer wants.
SELL YOUR HOUSE FAST
craigslist
yahoo groups
backpage
looboo
vast
ebay
oodle
rent
kijiji
listsource.com
gosection8
socialserve.com
postlets.com
facebook
twitter
ebay
local landlord association
local REA club
to contact your buyers - build an excel worksheet and use icontact.com to email them all.
or aweber... trouble deciding? see icontact vs. aweber..
use state form for AS IS transactions + very generic assignment form > always get a $2000 non-refundable earnest deposit.
if they don't have some skin in the game, then they have a better chance to back out of the deal.
work with a NATIONWIDE TITLE COMPANY THAT'S ATTORNEY OWNED AND INVESTOR FRIENDLY.
to get REO properties @ 50 cents on the dollar, you have to make A TON of low offers.
purchase LRA property
look for people who are REO BUYERS AGENTS and already work with buyers.
WHOLESALING IS KEY (amongst other things that make you money)
commercial wholesaling = largest profit potential
"DOUBLE CLOSE"
if they can't do it, make your buyers sign an addendum
you can take your wholesale profits and 1031 exchange them into more properties (rentals or fix/flip)
do $10 earnest deposits to make it legal
FUNDING
- corporate lines of credit
- transactional funding = lending for a very very short period of time
- hard money
- pertuity direct = peer to peer lending: website down..?
- lending club
- prosper
- gobignetwork - venture capital
- funding universe
use VIRTUAL ASSISTANTS to leverage your time ( example: @$2.00 hr. )
elance
guru
odesk
- locate a market where you're gonna do deals (such as local or a certain zip, etc.)
- get funding
- build a buyers list
- locate properties (REO = OK)
- negotiate
- put it under contract
- assisgn the contract
- fwd it all to title company
- rinse and repeat
1. perform MARKET RESEARCH
city-data
best places
spot crime
hpapts - nations largest apt sales & research firm
housing intelligence - reliable economic, demographic & home sales data
while performing due diligence, contact an REO buyers agent and ask - what % of your client base is investors?
if over 50%, ask them to send you a report of the closes amongst zip codes
find out which zip code has the most closes for investors
any market after a while will get saturate so you'll have to expand.
you want to work in the market where investors are actually buying properties.
2. choose a method of FUNDING
transactional funding requires that you have a PROPERTY UNDER CONTRACT + A BUYER
there will be a fee $1500 - 6000 depending on the amount of the loan
hard money = scotsmanguide - lender research
GET A LIST OF QUALITY BUYERS
build a buyers list
you can find out who's paying cash for deals - it's public information
listsource.com - existing or out of state landlords
use socialserve.com to build a buyers list = section 8 landlords
they are looking for rental property to own and also own rental property
you can also use gosection8.com
reverse wholsesale - find the buyer first
you can get properties for under 50k in st.louis, MO
find REO properties.
reo = bank owned (foreclosure)
ocwen.com = foreclosure listings
homesales.gov = homes for sale by u.s. govn't
resales.usda.gov = usda homes for sale
firstpreston.com
bidselect.com = hud foreclosures
homesteps.com
you can wholesale REO
NOT REO >> assignment
it's REO >>LLC >> CASH BUYER (sell ur business)
or
REO >> LAND TRUST >> CASH BUYER
or
REO >> DOUBLE CLOSE >> CASH BUYER
always verify your ARV with an appraiser
do not buy properties in an area where there are 3 or less comps
work in a niche market > few zip codes
you can also send out a contractor or handyman to get you a bid and market the property with a bid
find you contractors or handymen at
angies list
nahb.org
before you buy the property - make sure it's something that your end buyer wants.
SELL YOUR HOUSE FAST
craigslist
yahoo groups
backpage
looboo
vast
ebay
oodle
rent
kijiji
listsource.com
gosection8
socialserve.com
postlets.com
ebay
local landlord association
local REA club
to contact your buyers - build an excel worksheet and use icontact.com to email them all.
or aweber... trouble deciding? see icontact vs. aweber..
use state form for AS IS transactions + very generic assignment form > always get a $2000 non-refundable earnest deposit.
if they don't have some skin in the game, then they have a better chance to back out of the deal.
work with a NATIONWIDE TITLE COMPANY THAT'S ATTORNEY OWNED AND INVESTOR FRIENDLY.
to get REO properties @ 50 cents on the dollar, you have to make A TON of low offers.
purchase LRA property
look for people who are REO BUYERS AGENTS and already work with buyers.