Tag Archives: real estate
Absentee Owner Marketing Real Estate Course
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This comprehensive real estate course opens the door to one of the most effective markets for real estate investing: absentee owners.
This training, you’ll discover:
- Why absentee owner marketing is one of the most profitable niche markets you can tap into
- How to get motivated sellers calling as early as NEXT Wednesday
- The single most important thing that you need to know when it comes to contacting absentee owners
- How to eliminate time-wasters and focus only on those sellers that have equity, and are interested in selling their property quickly
- how to convert dead absentee owner leads into a positive return on your marketing investment
- And much, much more.
Course contains: 57-page digital training guide, audio training, absentee owner blueprint & process map, “dead leads” marketing fee, sample letters
Training created by Heather Seitz, Real Estate Training Academy
REO Property Investing Myths
There are lots of myths surrounding REO investing and REO property in general. In this article, I’m going to share with you several things that 99% of all investors don’t know, which will give you an advantage as you being to invest in REO property.
Myth #1: You Can’t Flip and REO Property
Most investors think that you have to actually close on an REO property before you can turn around and sell it to another investor or end buyer. This stops the majority of real estate investors dead in their tracks, before they ever even get started.
However, this is simply not true.
In fact, there are 3 different ways to legally and ethically flip REO properties and one of the most common is through a simultaneous closing.
A simultaneous closing is where you close on the REO property and then IMMEDIATELY turn around and sell it to another investor, end buyer, etc.
NOTE: You DO have to have the money to close on the first half of the transaction. (There are a number of ways to get funds for this type of transaction including local hard moneylenders). THIS is the part that make the simultaneous closing LEGAL.
In other words, you find a hard moneylender that will loan you the funds for the ENTIRE purchase price of the property. Generally, they will charge you a few percentage points for use of the money. Immediately after YOU purchase the property, you turn around and sell it to the buyer. Both transactions literally happen within minutes of one another.
Myth #2: You Need Cash to Make Offers on REO Properties
This REO investing myth is also, fortunately, false!
You don’t need to have 100s of $1000s of dollars sitting in your bank account to be able to make offers on REO properties, even if you are making all cash offers!
Think about this… if ONLY people that had cash in the bank were able to buy REO deals, then the banks would NEVER be able to sell all their inventory!
There are several alternatives. For example:
There are private lenders that will loan you the cash AND provide you with proof of funds letters to make your offers if you DO want to make cash offers on your REO properties. In many cases, you don’t even have to show a bank statement.
In other cases, you may choose to close on REO properties for your own long-term investment portfolio. In cases, like this, you would simply provide a pre-qualification letter from either a conventional lender or a hard money lender.
The bottom line is that the bank just simply wants to know that the person on the other end of the offer is in a position to buy the property if they are able to get the contract approved.
Myth #3: REO Properties Are Overpriced!
Another common misconception is that REO properties are overpriced.
While that may be true in some market cycles, for the most part… right now, REO properties can be pretty incredible deals. So, if you tried to invest in REOs a few years ago, you may have run into instances where you were paying full retail if not MORE for an REO property.
However, right now, REO property accounts for some of the very best deals out there. They’re taking discounts that were absolutely UNHEARD of just a few years ago!
For example, we recently came across a deal that was originally listed for $149,000. When it sold MONTHS after it had first been listed, it went to an investor for $30,000. The current market value was around $120,000 (that was the after repaired – CURRENT MARKET – value).
NOTE: Too many times, people try to value a piece of property at what the person bought it for several years ago! You need to ALWAYS look at TODAY’S VALUE!
THE LESSON: Don’t be afraid to make low ball offers, especially on an REO property! You never know what the bank will accept at any given time.
Myth #4: REO Investing is Complicated
Generally speaking, people think that when you’re forced to deal with lenders that the deals are complicated!
This is not the case… REOs are pretty simple if you think about it.
- There aren’t a lot of moving parts.
- There’s not a lot of “creative” structuring.
- There’s no negotiation!
The person approving the sale has NO emotion tied to the property. They simply have a job to do and a property to sell!
REO investing comes down to straight numbers. It’s black and white.
The deal either works or it doesn’t.
And if it doesn’t work… move on or try again in 30 days.
REO investing is probably one of the simplest ways to get started in real estate.
5 Reasons to Invest in Probate Property
Probate real estate is one of the most untapped – and profitable – real estate investing niches out there today.
Most investors never consider probate because they either don’t know the niche is out there OR they simply misunderstand it. What this means for you is that there’s a goldmine of opportunity… and the opportunity to serve a market that’s largely underserved.
- No competition
Unlike many of the other markets, there’s VERY little competition with probate investing. Sure, there may be a few other investors talking to the same owners, but NOTHING like some of the other markets. PLUS… with this niche, it PAYS to be nice (you can eliminate your cut-throat competition just by being genuine). - Works in every market.
Buyers market… Sellers market… it doesn’t matter! There are always going to be probate deals. People always pass away and estates always need to be probated… - Handsome paydays.
My average paydays are well into 5-figures. And that’s just for WHOLESALE deals. I’ve made as much as $32,000 from a single wholesale deal on a $92,000 property. - Help (I mean REALLY help) people that need you!
If you’re a little bit of a “softer” personality, this is THE niche for you. You get the chance to really help people that need you. It’s not always about the money. And I can tell you that some of my MOST rewarding closings have been probate deals where the seller looks up and me and from the bottom of their heart, they say “thank you. I can finally move on”. - Multiple streams of income
There are many other ways to make money with probate JUST in doing what you’re already doing. A few hundred dollars here and several thousand there. Smart investors know that the key to success is leverage. And probate gives you that opportunity.
Claim your access to a FREE EXCLUSIVE video that reveals the secret strategies, tools and tactics that savvy real estate investors are using to create quiet fortunes through investing in probate (http://www.theprobateprofitsystem.com)… and how to generate consistent 5 and 6-figure pay days with probate property.
To use this article on your own website, include the following: To access a proven probate model, where you’ll learn how to find the right leads, select the ideal seller candidates, get your letter opened, and craft a compelling letter that gets a HUGE response, visit Probate Profit System at http://www.theprobateprofitsystem.com.
5 Steps to Absentee Owner Marketing Profits
The truth of the matter is that working with absentee owners is one of the easiest markets in real estate.
There are essentially only 5 steps you need to take to be successful with absentee owner marketing:
1. Determine Your Absentee Owner Lead Source.
There are a number of places that you can find absentee owner leads. Ultimately, the success of your campaign comes down to finding accurate leads and the right type of leads. In other words, you don’t want data that’s 2 years old. It needs to be up to date and current within the last 3-6 months. Continue reading
Why Absentee Owner Marketing?
There are 5 reasons NOW is the time to really look at absentee owners as your primary method of finding sellers – with equity.
But before we get into the reasons why absentee owners are a great market right now, it’s important for us to define absentee owners in the manner in which WE discuss it for purposes of this article and in our Absentee Owner Marketing training.
For our purposes, when we refer to “absentee owners”, we’ll be referring to owners of real property whose mailing address is 50 miles or farther away from the subject property.
Let’s look at the top 5 reasons absentee owner marketing is ripe for the picking RIGHT NOW. Continue reading
Getting Started In Real Estate Investing
Real estate investing is really simple if you simply follow the basics. The problem is that we have the tendency to complicate things more than they really need to be AND that we over-think things too much. We get “too much” specialized knowledge that it begins to cripple us from ever getting started in real estate investing.
When I started out in the business, I made a commitment that I had to implement at least one thing from any home study course I purchased, event I attended, or book that I read before I could buy something else.
You see, we all tend to keep looking for the “magic pill” to riches in real estate and no such thing exists. You need to actually take action and apply the specialized knowledge that you are getting — not simply go from strategy to strategy, never actually implementing anything.
In addition, when you take this piece meal approach to getting started in real estate investing, you often get contradictory information, which makes you start to question if a strategy will work. Continue reading
Selecting the Right Structure for Your Business
Without a doubt, the single biggest question that I receive as I travel the country and meet with clients is this: which is the best entity?
While it is indeed the most common question I’m asked, it’s also the hardest to answer. The reason for that is that I don’t think that there is a “best” entity. You see, some entities will give you certain benefits that aren’t available through other entities from a tax standpoint. At the same time, these entities may not offer the same benefits as another type of entity from an asset protection standpoint. Additionally, they may not offer the estate planning benefits offered through Continue reading
Training Programs
The Real Estate Training Academy has a variety of training programs to help real estate investors of all levels of experience.
Masterminds and Mentors
I want to shift gears here for a minute and talk about the personal side of this business. The tactics and strategies can only take you so far.
I remember back when I got into real estate with no money and very little confidence. I was afraid of rejection! I was afraid of what could go wrong. I had amassed a great deal of knowledge from the books I’d read, but no practical application to fall back on.
I started on a dream and a hope that this would work. When I began, I was ending a relationship and basically without a place to live or money to move. I dove head first and hoped for the best! I had no idea what was going to happen. Continue reading