Last night we had a webinar for our Real Estate Investor Bronze Members where we discussed the strategies (and resources for implementing those strategies) that are working right now in our current market.
Part of what I discuss in the webinar is that anyone can actually do these strategies in this market if they choose to. You know how to access everything you need and as I mentioned any parts that you do not want to do yourself are able to be outsourced to someone who would love to do that for you. In fact, I have most of the systems to outsource those tasks as well since I have outsourced just about every part of the real estate investing business. If you are a Bronze Member and need help with that, just let me know.
Please enable Javascript and Flash to view this Viddler video.In the webinar I discuss wholesaling, virtual wholesaling, buy and hold, real estate partnerships, subject to and lease options as well as owner financing and private money.
Enjoy the video!
Sincerely,
James
P.S. If you have not downloaded the free real estate courses we have available, you can do that on the Real Estate Course Downloads page.
Tonight for our Real Estate Investor Bronze Members I am holding a training webinar called Real Estate Investing Strategies Working Right Now. In this webinar I will be talking about which real estate investing strategies are working best right now and highlight some of the training materials we have for our Real Estate Investor Bronze Members that can be used to learn specific implementation strategies, checklists, forms and downloadable training courses on the specific areas.
These are some of the topics that I have on the outline to talk about:
- Wholesaling – Wholesaling is a great way to generate immediate chunks of cash as a real estate investor and a strategy that I strongly recommend for new investors wanting to get involved with the business as it will help you earn while you learn.
- Virtual Wholesaling – Virtual Wholesaling is similar to wholesaling in many ways except you are able to focus on markets that are not local to you in your wholesaling. You will be growing multiple buyers lists, employ marketing in multiple geographical markets–often out of state–and have key dream team members in those areas to help you.
- Buy And Hold – Right now a good long term Buy And Hold strategy is extremely powerful. Interest rates are at or near all time lows, the trend is that more people are moving toward renting and we are heading toward a period of high inflation meaning property values will likely rise considerably. A potential challenge is investor financing which I plan to address in detail for our members.
- Subject To and Lease Options – Buying properties “subject to” the existing financing or structuring a creative Lease Option deal are two different, but similar strategies that specifically address the investor’s financing challenges while still solving problems that many sellers have in our current market.
- Partnerships – There are many folks that want to get involved in real estate investing but do not have the time or expertise to really learn the business. There are some great opportunities for professional real estate investors that have the time and expertise to partner with folks interested in the benefits of real estate investing (income, depreciation, equity build up, appreciation and, in some cases, leverage) to work on the financing side with professional investors so that each of them could achieve more than they might otherwise achieve alone in a win-win partnership.
- Multi-Units and Apartments – While this is not an area of expertise for me since my focus has been primarily on single family homes, I see an opportunity in this strategy and I think for the right person it is something worth at least looking into.
In tonight’s training session, I will also be sharing the amazing resources that we have for the following as well to address the very specific challenges of financing on the side of of the investor buying and also for profitable exit strategies for investors as well:
- Owner Financing – Since this is a major area of focus in our business, I have some amazing resources and training materials on this topic.
- Private Money – Last year when I actually got licensed in my state to be able to raise private money, I was one of only two people who had gotten licensed in the last 10 years and yet there is a huge opportunity with the low returns that folks are getting on their money for real estate investors to work with private individuals with private money loans secured by investment real estate.
- Rent To Own and Lease Options (as exit strategies) – I will also be sharing some of the strategies for offering creative, flexible financing to your end buyers to make your exit strategy more profitable and give you a significant marketing advantage.
As you can see, there is quite a bit to cover on tonight’s webinar so I will be mostly pointing out specific training resources that we have already available including checklists, systems, forms, audio downloads and more. I will, technology willing, be placing the recording of the webinar up on the Real Estate Investor Wiki within a couple days.
Until my next post,
James
With a lot of folks facing challenging local real estate markets there has been a lot of talk lately about wholesaling outside of your local market or virtual wholesaling.
Yes, wholesaling outside your local market can be done and a lot of the tools I teach can very easily be adapted to this type of investing, but I have one warning for you before you start and before I continue to share some information about it: if you are not willing to do the work that is required to build a buyers list, find deals and talk to buyers and sellers about properties in your local market, then doing it across the country still won’t work for you.
With that being said… if you are willing to build a buyers list, talk to motivated sellers to find deals and put them under contract then talk to your buyers list as they inquire about the deal, then yes, this is a viable business model.
In fact, if you sort of cross your eyes funny, it is the exact business model I run here on these sites except I am doing it with a real estate license and skipping a few steps as I’ll show you below.
For real estate investors that do not have a real estate license here is a basic overview of how the process works:
- Start building your buyers list so you have buyers to sell your deals to
- Market to find motivated sellers
- Negotiate with sellers to put deals under contract
- Sell your contract to your buyers list for a profit
- Repeat as often as you like
I know that seems over-simplified, but that really is what the system is. I document in the various free training I provide how to do each of those steps. All you need to do is look through these articles and the Real Estate Investor Wiki. Then tweak our systems to your unique situation and implement them for your business.
If you have a real estate license, the business model goes something like this:
- Start building your buyers list so you have buyers to sell your deals to
- Find great deals from other wholesalers, the government, banks or other agents/brokers with listings
- Put your buyers together with agents who help them buy these properties and collect a commission (or referral fee) on the sale
- Repeat as often as you like
Until my next post,
James
P.S. For a limited time only you can watch my hour long webinar on How To Setup Your Virtual Wholesaling Business for free.
If you’ve ever wondered what the difference between a real estate bird dog and a real estate wholesaler is, then you are not alone. Lots of people confuse the two and some actually use the terms interchangeably. But in my mind, there is a significant difference between the two in terms of what each does and what each earns.
Let’s look at each one and see what the differences are between a bird dog and a real estate wholesaler.
First, bird dogs point out potential deals to real estate investors. They do not usually negotiate deals and put them under contract. Their fee for pointing out deals is usually either a small up-front fee regardless of what happens, or more commonly a slightly larger fee if the real estate investor actually purchases the deal. How much are typical bird dog fees? $5 to $10 for pointing out a potential deal regardless of whether it closes or not. Or $100 to $500 if the deal actually closes.
Compare this to a real estate wholesaler. A wholesaler will go out and find a potential deal, but they will do much more. They will actually negotiate with the seller, agree to a price and terms and will write up the contract or option on the property. Then they will bring the contract to the real estate investor that will actually buy the property and negotiate with them the price and terms that they are willing to sell their contract for to the investor. While this fee is highly negotiable and can vary widely, it is not unusual for it to be several thousand dollars.
As you can see, wholesalers not only do more than bird dogs, they make more money too.
Until my next post,
James
P.S. Real Estate Investor Bronze Members may be interested in checking out the extensive collection of Wholesaling Resources in our Real Estate Investor Wiki.
For a limited time I have decided to post the webinar video that I recorded earlier tonight online.
In this 70 or so minute real estate course I cover some of the resources we have for setting up a real estate wholesaling or virtual wholesaling business.
Please enable Javascript and Flash to view this Viddler video.If you’d like to see more of these videos and access all the audio course downloads, forms, checklists and get access to our consulting sessions, please upgrade to Real Estate Investor Bronze Membership.
Until my next post,
James
This Thursday, January 7th, 2010 from 7 PM to about 8 PM MST (see Real Estate Investor Calendar of Events for event info) we are having a free training and consulting session for our Real Estate Investor Bronze Members called Setting Up Your Virtual Wholesaling Business.
In the training I will be covering:
- Wholesaling Overview
- What is Virtual Wholesaling?
- How to setup your website to start building your wholesale buyers list
- How to setup your email list management software to build and manage your wholesale buyers list
- The top ways to immediately start getting wholesale buyers to your buyers list
- Nurturing a powerful, profitable relationship with your wholesale buyers list
- Get paid to build your wholesale buyers list: additional revenue sources from building a wholesale buyers list
We will have time for your consulting questions about this or any other topic following the training.
Technology willing I will be recording the webinar and placing the recording online in the Real Estate Investor Wiki for our Real Estate Investor Bronze Members to access.
If you have not yet signed up as a Real Estate Investor Bronze Member, you should do so immediately and the link to register for the training is located on the homepage of your Real Estate Investor Wiki.
Until my next post,
James
P.S. If you have not signed up for our new mailing list and downloaded the free real estate courses and special reports, I would do that before we remove the downloads.
