Quickstart Class 2 Mindmap to PDF Conversion

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1 1. "55" Simple And Powerful Ways to Find Killer Real Estate Investments a. Think of your business like a funnel i. you have to put in alot of potential deals for the good ones to shake out the bottom ii. SUSPECTS turn into PROSPECTS turn into FOLLOW UP DEALS turn into OFFERS turn into ACCEPTED OFFERS / DEALS 1. Suspects 2. Prospects 3. Follow up and Due Diligence 4. Offers a. AOF 5. Accepted Offers / Deals iii. there's alot of different way to find real estate deals 1. PAID METHOD a. ONLINE b. OFFLINE 2. FREE METHOD a. ONLINE b. OFFLINE b. FREE METHOD i. ONLINE a. search thousands of foreclosed Fannie Mae Homes Instantly i. they buy mortgages on secondary market ii. Taken over by govt in 2008 iii. CHASE - originate note and mortgage iv. Sell note and mortgage to fannie mae b. all FANNIE MAE FORECLOSED HOMES c. these homes are also listed on MLS with a realtor d. Create an account i. save your search criteria e. Set up your search i. by city ii. by county iii. by price f. 3 bed g. 1 bath h. Use Buyers Agent to Submit Offer

2 i. Write Contract ii. In a competitive property / market - use the listing agent iii. in a competitive market submit highest and best offer iv. Register on their website 1. when they have something that meets your criteria they will you a new listing, back on market, price reductions a. Freddie Mac real estate sales unit i. freddie mac foreclosure b. Helps savvy investors learn about and buy desirable properties c. Create an account d. Set up your search i. by city ii. by county iii. by price e. 3 bed f. 1 bath g. Use Buyers Agent to Submit Offer i. Write Contract ii. In a competitive property / market - use the listing agent iii. in a competitive market submit highest and best offer iv. Register on their website 1. when they have something that meets your criteria they will you a new listing, back on market, price reductions a. FHA loans gone bad b. Buy HUD homes c. Realtors make online bids without ever having to write a contract d. once approved HUD makes you and your realtor use thier HUD sales contract e. have 48 hours to sign and return the contract via UPS f. Earnest Money deposit is 1% of sales price with minimum of $500 and a max of $2,000

3 g. must have a realtor with NAID number submit your bid i. NAID number are issued to the broker of record and then all realtors who work for broker h. Virtual Assistant bids on property at 10% and gets counter offers and then submits his bid a. Sold over $30Billion of real estate via online auctions b. mostly investment property and foreclosed property c. Create an account i. log in with user name and password ii. send you s when something is listed that meets your criteria d. Set up your search i. by city ii. by county iii. by price e. 3 bed f. 1 bath g. bid on properties up to your max offer price h. based on the automated offer formula i. NOTE: some properties on auction.com are also on MLS j. Fairland Ave a. LIVE AUCTIONS i. go to the auction at courthouse ii. could be at a title company iii. could be at public site iv. must have 10% down while you are there 1. Then 90% next day v. don't get 10% back if you don't close 1. get 90% back if you don't close vi. some you can inspect / some you cannot 1. drive neighborhoods 2. your house in on the sherriff's sale 3. 50% of time they will let you in vii. reserve needs to be met 1. reserve may be waived on short sales viii. 5% buyers premium

4 6. HILCO REAL ESTATE AUCTIONS - 6 a. new orleans redevelopment b. Tax Deed Sales a. browze thousands of homes from coast to coast b. register for a free account c. bid in an auction in real time d. OR e. make an offer and get a response from the seller f. receive an congratulating you on your winning bid g. sign P&S agreement h. send in your earnest money deposit i. close the deal j. cannot sneak in a bid at the end i. if you bid in the last 15 minutes the auction time will go up 15 minutes k. 4.5% buyers premium a. up to the minute listings b. look at properties from coast to coast c. for sale and for rent d. See single family homes, condo's, town homes and homes not yet on the market like pre-foreclosures and short sales e. shop for customized qoutes and get pre-approved f. browse millions of photos i. property description, size, sq footage etc g. see comps h. see past property history i. zillow gets all the inventory from MLS, public record j. My brother Mark Cantwell uses Zillow extensively i. Not a realtor ii. does not have access to the MLS a. an all in one real estate site that gives you the local scoop about homes for sale, neighborhood insights, and real estate markets and trends. i. Hot properties ii. Heat Maps

5 a. Site and App MLS - 13 a. every property that gets listed with a real estate agent gets put into the MULTIPLE LISTING SERVICE b. this is a popular reason why motivated sellers, banks and foreclosed properties get listed on MLS is for the maximum exposure c. every agent can see every property in MLS d. have buyers agent set you up on a drip i. see below e. new listings f. price drops g. back on market 14. MLS drip -14 a. Any realtors can become your BUYER's agent b. buyer's agents can set up your particular search criteria in the MLS and then make sure the MLS system automatically sends you an every time a property that meats your criteria is listed. Then you will get notified. Also every time there's a price change, like a reduction in price, you will be notified via 15. IDX - 15 a. internet data exchange b. IDX is a contract agreement between the local MLS and a local real estate agent who has a website c. the local real estate agent signs a contract allowing the MLS to feed all the properties from the MLS into the local agents website d. thus the IDX site is almost as up to date as the MLS e. it updates about every 15 minutes f. Go to Google g. Search "homes for sale in (fill in blank city) h. normally the ads that display in the upper left and down the right column are paid ads from google's advertisers i. the top 3-6 ads are most likely IDX websites j. you can set up a Acct and search the MLS for free

6 k. create a free account l. good for virtual investing i. CHRIS SEDER m. REMAX.com i. nationwide IDX n. VENDORS i. Commissions Inc ii. Tiger Lead iii. Real Nerds iv. Realty Generator v. V4 1. Scott Miller 16. Social Media - 16 a. Facebook b. Twitter c. Linked In d. writing posts about what you do in real estate can be very effective so that your friends on facebook will seek you out when they have a real estate related question with can in turn lead to deals and to money 17. Video - 17 a. you Tube b. 2nd largest search engine c. record a video i. FLIP CAMERA / IPHONE d. put "(insert city) homes for sale" in the title and description 18. Craigslist - 18 a. Houses for sale section b. For rent section i. All rentals in craigslist are vacant and owners are motivated to find a renter or a buyer ii. every property that's in the for rent section is a vacant house iii. contact the owners / landlords and see if they are looking to sell c. post ads i. we buy houses ii. we take over payments

7 iii. Sell your house fast, for cash iv. any condition v. any situation vi. Call buy-quik TODAY 19. TAX DEEDS / LIENS - 19 a. DK i. Post Taxes online ii. Post equity online iii. tax delinquent with no mortgage iv. TLO.com - phone number v. hand written letter with postage 1. forever stamp vi. overages / surplus funds vii. $5k profit 20. Buy from Hedgefunds who've bought properties Buy from a wholesaler who bought a tape - 21 ii. OFFLINE 1. Buyers agents -22 a. Buyer's agents can effectively bring you properties because they receive a commission every time you buy a property b. this is the best part about real estate and using a buyers agent i. buyers agent get paid by the SELLER c. every time they find you a property you buy they are paid a commission by the seller NOT BY YOU. d. i personally have 3 dedicated buyer's agents who are constantly looking for properties for me to buy e. they bring me properties that look good and have potential 2. Short Sale Investors and Agents -23 a. Focus on short sales and pre-foreclosures b. when homeowners are in pre-foreclosure, going thru a divorce, have no equity they often call a real estate agent to help them list and sell their property c. for less than whats owed d. what often happens is they list the home and a buyer writes an offer e. then it take 3-4 months to get an answer back from the short sale lender f. so the buyer walks away

8 i. because it takes too long g. then the asking price is reduced h. a new buyer makes an offer at a lower price i. then bank takes forever again j. and property goes back on the market k. So the sweet spot is Short Sale Listings that have been on market for at least 180 days i. because agent and seller are motivated to unload it and they don't care what you offer ii. just offer using the Automated Offer Formula Days on Market -24 a. Make an offer on every property that's been on market and bid 50% of asking price b. subject to walk thru 4. Expired Listings -25 a. make offer on every property b. door knock the seller c. expired plus short sale keywords 5. Referrals -26 a. friends b. family c. business associates d. Social Network e. If done over 25 + real estate deals with family and friends who have referred me to their friends and family who are motivated sellers f. i use a monthly or bi-monthly newsletter to stay in touch with my local contacts g. you can also use marketing h. i like to send out a direct mail peice and then follow up with a phone call saying "hey did you get my newsletter? what did you think of it?" i. you just want to open a conversation so they ask you "Hey what do you do again?" j. and you say " I raise capital from private investors, we buy foreclosures and we pay our investors a fixed double digit rate of return"

9 k. do you happen to know anyone looking to buy a property, sell a property or invest and be the bank and get a great double digit rate of return passively?? l. "Letter" Campaign to Centers Of Influence i. "I'll pay you a $1,000 Bonus if you refer me to any real estate property that i buy!" ii. my name is josh cantwell and i am a full time professional real estate investor and entreprenuer. I am interested in any buyers you can refer to me who are qualified to obtain financing, they could be retail buyers, owner occupied buyers or investors, I would also be interested in any sellers that need to get rid of properties. I can pay the seller all cash and close in 2 days. For your efforts i will pay you $1,000 fee for either buyer or seller referrals. Please call with quesitons at XXX REIA CLUBS -27 a. real estate investor associations 7. Attorneys -28 a. Probate b. General Practice c. Real Estate d. Divorce e. Attorneys have clients who are constantly buying properties, selling properties, going thru foreclosure, divorces, bankruptcies and those lawyers can be a great lead source for a real estate investors f. attorneys know of properties that are OFF MARKET with little or no competition 8. Mortgage Brokers and Bankers -29 a. they are in real estate full time as lenders b. they regularly get leads from sellers looking to refinance who are in foreclosure c. they cannot refi b/c they have bad credit d. brokers can make a marketing fee for introducing you to their lead 9. LAND BANK -30

10 a. In communities like cleveland and other rust belt cities or cities with blight sometimes properties are simply abandoned. I cuyahoga county they set up a land bank which takes over these abandoned homes and sells them back to investors super cheap. I saw a piece of land worth over $50,000 sell for 20k just last month in strongsville. Ive seen perfectly good rentals properties in solid rental communities like garfield hts go for $5,000. That s it. Check with your county and see if they ve set up a LAND BANK and find out how to buy from them b. 197 LAND BANKS i. across the US 1. center for community progress c. properties are scheduled to be demo'd d. donated to land bank e. 8-10K to demo f. Land bank pays 4k g. buy properties for 5k 10. CODE VIOLATIONS / CITY BUILDING DEPARTMENTS -31 a. each city has a building department which keeps a running list of properties with CODE VIOLATIONS. This list is normally public record. Call the city building department and see if they keep a list and if they will share it with you. These properties could have simple code violations or massive violations like FIRE DAMAGE. Check with your local city building department and see if they sell houses or give out the list of homes with code violations or lists of homes that are vacant and abandoned. 11. Sellers / Past Clients -32 a. When a deal closes the sellers opinion of you will never get higher b. ask them for referrals and introductions c. PAID METHOD i. ONLINE 1. Softwares a. DONE FOR YOU DIRECT MAIL CAMPAIGNS i. merge the following lists 1. Vacant 2. Absentee 3. High Equity

11 4. out of town landlord ii. mail postcards to these lists b. Realeflow.com - 33 i. Pay monthly fee 1. Get access to lists for free 2. absentee 3. high equity 4. out of state % return 6. private lenders a. letters worked well 7. CRM ii. chris seder postcards a phone calls b. 1-2 deals c. 5-10% undeliverable d. higher response rate from lower income areas e individual addresses c. Freedomsoft.com - 34 i. pay monthly fee 1. Get access to lists for free d. Findmotivatedsellersnow.com - 35 i. Pay one time fee 1. get access to lists for free ii. most consistent 1. Chris 20 wholesale deals 2. $1500 up front and $99 a year e. connected investor i. pay one time fee 1. get access to lists and deals 2. Done for You Online Lead Gen a. Z Buyer.com - 37 i. Chris bought house 2 weeks ago b. HBN - 38 i. Housebuyernetwork.com c. subscription based

12 i. motivated seller leads ii. $50 - $200 a month ii. OFFLINE 1. Direct Mail a. Yellowletters.com - 39 b. yellowletterscomplete.com - 40 c. click2mail.com Lists a. usleadlist.com - 42 i. inheritance list ii. state specific b. Listability.com -43 i. Subtopic 1 c. melissa data -44 i % return ii. Mark Heininger d. mega.realtytrak.com -45 e i. Lisa ii. 500 postcards calls 2. 2% iii. out of town iv. high equity v. absentee owner vi. Core Logic Products or Realty Trak Products vii..16 cents per record 1. individual acct viii. Set up a Business acct cents per record ix. remove bank owned x. remove large companies who own 50 plus houses xi. mail every 30 days for 3 total mailings 1. 3 postcards 2. exact same postcard 3. yellow postcard 4. black printing on yellow

13 xii. use click2mail.com 1. use PRO version f. ERIC i. chris seder's buddy g. mail to approximately leads per mailing h. expect a 1-3 response rate i. we regularly gotten a 5-15% response rate j. 1 i. Absentee Owner Lists ii. vacant lists iii. Free and Clear Properties 1. about 1/3rd of all homes in US are paid off k. 2 i. Inheritance Lists 1. Probates l. 3 i. Notice of default lists DAILY LEGAL NEWS - CUYAHOGA COUNTY ii. Pre-foreclosure list iii. Short Sale Leads iv. absentee owner v. high equity vi. Local Court House vii. DO NOT GET THIS LIST FROM A LIST PROVIDER 3. Driving neighborhoods -48 a. Driving for dollars b. look for properties with tall grass, newspapers piled up near front door or garage, snow thats unshoveled c. look for properties with eviction, foreclosure notices on front doors d. look for properties with yellow, orange notices on front door windows e. look up property owner in county auditor website -49 i. take screen shot ii. search (FIB) county auditor f. send postcard to the owner g. if postcard comes back undeliverable use to skip trace the homewoner

14 i. call the owner ii. send another postcard to the owner 4. Wholesalers -49 a. Anyone doing bandit signs b. anyone doing craigslist advertising c. anyone with a penny saver ad d. they are looking to offload their property / inventory to rehabbers and landlords e. for a couple thousand dollar fee i. for the right to the contract ii. assignment fee f. post ads i. we buy houses ii. we take over payments iii. Sell your house fast, for cash iv. any condition v. any situation vi. Call buy-quik TODAY g. mike cantrell buys from wholesalers i. no set fee or percentage h. networking i. talking 5. Billboards -50 a. Sell your house fast, for cash b. any condition c. any situation d. Call buy-quik TODAY e. HOMEVESTORS i. franchise ii. Dallas TEXAS iii. "WE BUY UGLY HOUSES" 6. Permanent OBJECTS NEAR BUSY STREETS - 51 a. i know a company in my area that rents semi-trailers and pays a small monthly fee and put their company name, logo, phone and website on the semi - trailer b. visible from both sides of the street c. visiable from freeway 7. Cover of White / Yellow Pages

15 a. $5,000 / yr b. you'll be seen by almost everyone in your county /city c. declining usage of yellow pages d. we buy hosues e. we take over payments f. Sell your house fast, for cash g. any condition h. any situation i. Call buy-quik TODAY 8. Magnetic Car Sign /Bumper Stickers -52 a. We Buy houses b. Take over payments c. Sell your house fast, for cash d. any condition e. any situation f. Call buy-quik TODAY 9. Bandit Signs -53 a. White i. Blue Lettering b. Yellow i. black lettering c. Corrigated Signs d. Place in yards of vacant houses e. Place in yards of Foreclosures and bank owned inventory f. Place on busy corners g. Place on Friday afternoons at 6pm h. pick them up sunday at 8pm i. Long weekend - holiday weekends i. memorial Day weekend ii. 4 solid days j. k. l. m. n. small variations of a common billboard o. steel stake p. placed in a high traffic area q. acquire an easy to remember phone number

16 i. 555-buyquik r. acquire an easy to remember website s. do not put your company name on the sign t. do not put your name on the sign u. do not put your logo on the sign v. use large font so it's easy to read w. no more than 2 lines not including the phone number x. map a route / track your leads i. use Google Maps ii. Microsoft strets and trips iii. map quest y. tend to last about 24 to 72 hours z. call the other bandit signs in your area i. get to know other investors in your area so you can do business together aa. put bandit signs up in the front yards of vacant houses, abandoned houses or foreclosure properties 10. Flyers -54 a. $1,000 Bonus for every property you buy b. leave at Gyms, Donut Shops, Body Shops, Grocery, c. restaruants / bars d. anywhere that has a cork board, pin up sign e. Front side for attracting sellers f. Back side for attracting buyers 11. Business Cards -55 a. Leave Business cards everywhere you go b. Offer $1,000 Bonus to anyone who refers you a real estate property that you buy c. Give your contractor a stack of business cards d. RESOURCES i. Cel Phone Capture softwares 1. Realeflow.com 2. buyersonfire.com 3. when you send out direct mail use a cel phone capture software 4. when someone responds and calls your office thru the cel phone capture software their phone number is captured thru the software - then you can call or text them back and follow up 5. add logo and websites for the softwares

17 a. or use affiliate links ii. Phone answering services 1. Google Voice a. set up a free VOIP NUMBER 2. Pat Live a. Pay Per Minute 3. MONEY PHONE a. or you can use a local cel phone you keep just for answering from your magnetic marketing b. if the money phone rings its a motivated seller or buyer i. answer it iii. COMPS 1. Need comps to support and justify the After Repaired Value 2. MLS a. Most Current Market Analysis is made up on 3 SOLD comps, 3 PENDING COMPS, and 3 ACTIVE COMPS 3. IDX a. internet data exchange 4. Realquest.com a. $1000 Fee 5. a. real estate criss cross directory b. only available in markets / states a. not in every market b. simple to use 8. a. FULL CMA b. $6 per property iv. Skip Tracers 1. a. $1 per lead v. Cool websites 1. a. pintrest for real esatet

18 i. pics ii. ideas iii. staging 2. a. property inspections b. site inspections e. AUTOMATED OFFER FORMULA i. After Repaired Value ii. X's 65% iii. Minus Repairs iv. = Max Offer Price v. use the same formula on every deal 1. SFF will fund the deals for you 2. private lenders will fund your deals for you f. GRANT CANDONE i. 10 times rule ii. The 10X Rule: The difference between success and failure