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What a great training call this morning! I just finished putting up the training call from earlier this morning (link available below and in the Inner Circle Member resources website which can be access here).
We started the call issuing all the listeners a special login and password that can be used to access some special downloads and resources that are just for people that are on the call. I will be sharing with you the downloads that are included with this call as I continue with the description below. This is the first call in The James Orr Show series that we have done this with. I’ve done this in the past with lots of the other real estate courses that are available for purchase, but never before with The James Orr Show. To access these special resources just select the date of the recording that you have from the new tools page and it will prompt you for a login and password. Use the login and password given to you on the call and you’ll get to see all the goodies that are sure to save you lots of time and money.
After I shared the login and password I began to address two email questions we had from listeners since yesterday’s call and ended up discussing a variety of topics including how to install new empowering habits and briefly discussing some of the pros and cons of working with partners. I also mentioned that you can hire people (often on commission where you only pay if they perform) instead of seeking partnerships if there are certain tasks or parts of the business that you cannot or are not willing to perform. It is important to realize that you do not need to do everything yourself. I am a big believer and implementer of hiring people better than me to do jobs that I am not willing or interested in doing. I tend to teach you how to do that in some of the daily training calls for Inner Circle Members.
Around the same time we were discussing partners I also talked about being busy versus being productive and the trap of having stuff to do that really does not meaningfully move you toward achieving your goals. Avoid this type nonsense like you might want to avoid the plague.
We then went on to discuss working with buyers to find them properties and I talked a little about the difference between wholesaling and being a real estate agent or broker. There were some very important distinctions about those that you’ll want to listen to.
I also briefly talked about property management and specifically offering property management as a service to others and the licensing requirements of that (for many states).
In the end of the emailed question, I mentioned that the person emailing was asking for contracts and forms to do wholesaling. For the first time ever, in the password protected resources section for this call, I provided you with a contract and assignment in both PDF and MS Word format. You can still reference the article How To Get The Paperwork For Your Deal for ways to get your own paperwork. You should still have any paperwork you get from the internet (including the stuff I give you), reviewed by your legal team or at least your Pre-Paid Legal attorney.
I then went on to the second email with questions. This one was about an out of town buyer who was considering a property that, as it turns out, was not really a good deal. I strongly advise you to provide an outstanding product and as a wholesaler that means great deals to get repeat customers (that means investors buying from you again and again). So, do not wholesale poor deals to folks. Give them deals that they can make a profit on. Listen to the call for more information on that and the tips I shared relating to selling your wholesale deals and the thought process behind it.
After Inner Circle Member questions we jumped right into our discussion on flyers and specifically hiring a flyer delivery person to deliver flyers for you to find great deals. To save you time and effort, I provided you with the exact ad I run and recommend you run when trying to hire a flyer delivery person plus I also give you the complete Flyer Delivery Person Independent Contractor Agreement that outlines the specific details of your relationship and protects you and them. Even if you don’t get mine you NEED to use one of these for all your contractors to have your agreement in writing. Why not just use mine as a starting point of something to modify and have your attorney (Pre-Paid Legal or otherwise) review and customize for your state, county and city. It just makes sense to leverage what I’ve already done for you (that’s one of the benefits of being a Inner Circle Member).
Lastly, I finished up talking about an investor philosophy of acting in spite of fear and I gave you some resources to use for overcoming fear and taking action doing the things you know you should be doing.
Download The James Orr Show – Episode 2010-08-31 if you’re not a Inner Circle Member or become a member today.
Inner Circle Membership - Daily, Live Training for Bird Dogs, Wholesalers, Real Estate Investors and Real Estate Entrepreneurs with Q&A and consulting and more.
Or, become an Inner Circle Member and get much more...
Want an additional way to get the word out to the neighbors of your property that you have a property for sale, for rent or available on a rent to own? Try the Postcards to Neighbors Checklist as an easy, cost effective way to contact a large number of the closest neighbors to your property.
While flyers like we discuss in the For Rent Flyer Checklist is an effective way to get the word out using flyers about a property that you have, using postcards is both cheap and highly effective.
In the checklist, we walk you through the steps of getting the list of neighbors from your mailing list provider and how to check for common mistakes you might make preparing the postcard like the wrong phone number or website address.
Then, we discuss how to get the postcards out quickly and painlessly yourself or with the help of your mailing house.
The nice thing about using the postcard system is that you can just as easily send out 10 postcards as you could 500 and we have found that since “birds of a feather flock together” neighbors are usually great referral sources for finding tenants for properties from their network of friends and family.
Until my next post,
James
P.S. Want more information about becoming the best property manager you can? Download, listen and implement the strategies in Secret Property Management Tips and Tricks now. It is a free download for a limited time.
Inner Circle Membership - Daily, Live Training for Bird Dogs, Wholesalers, Real Estate Investors and Real Estate Entrepreneurs with Q&A and consulting and more.
Or, become an Inner Circle Member and get much more...
If you are considering running a classified ad in your local newspaper to help market your rent to own property then you will want to use the Classified Ad for Rent to Own Checklist to make sure you don’t forget any steps.
This checklist will walk you through the process of writing a classified ad to market your property on a rent to own. We include a couple of sample ads you can use to model.
Remember that since classified ads are usually two step marketing, you will not be able to get your full marketing message out in the classified ad cost effectively. This means that you will need to include a 24 hour recorded message telephone number and preferably your website that has information about the property as well. This way, when your classified ad grabs their interest you can give them the rest of the information they need via your recorded message or website.
Since you are dealing with a local newspaper for your classified ads and they often do not provide you with a written proof of your ad, we also have parts of the checklist that help you document your ad in writing so that, in the event of an error, the newspaper will be inclined to offer you a free make good ad to fix their error.
Until my next post,
James
P.S. Did you know that you will soon be able to access a large portion of the major checklists from our world famous Real Estate Investor Wiki in one concise, carry along with you 220 page paperback book? It is like having a real estate investor operating system in your hand for less than $25…. check out Amazon or your favorite bookseller for Real Estate Investing Systems by James Orr (that’s me) in the next week.
Inner Circle Membership - Daily, Live Training for Bird Dogs, Wholesalers, Real Estate Investors and Real Estate Entrepreneurs with Q&A and consulting and more.
Or, become an Inner Circle Member and get much more...
If you have a property that you are trying to rent and you are either preparing it for rent or doing some marketing for it, you will find that creating and using flyers to market it an important task. We cover creating and utilizing flyers for rental properties in the For Rent Flyer Checklist.
In this checklist, we cover how to create your flyer including the particular service that we recommend for quickly making professional looking flyers.
We give you a rough idea of the number of flyers to have printed up to have enough at the house and to distribute out to neighbors to encourage them to help select their neighbor or refer friends and family as potential tenants in your property.
Since using flyers is an inexpensive and highly effective way to fill vacancies, you will find yourself using this checklist often.
Until my next post,
James
P.S. Are you landlord looking for ways to improve your property management skills to add more money to your bottom line? Download and listen to the Secret Property Management Tips and Tricks real estate investor audio course (free for a limited time).
Inner Circle Membership - Daily, Live Training for Bird Dogs, Wholesalers, Real Estate Investors and Real Estate Entrepreneurs with Q&A and consulting and more.
