Sunday, July 31, 2011

Discount Real Estate Brokers - Can You Save Money?

Discount Real Estate Brokers - Can You Save Money?

To talk about discount brokers is to say there are standard-fee brokers, and nobody will own up to that statement. Why? Because all real estate commissions are negotiable.
However, many real estate brokerages, hoping to capitalize on the growing realization among consumers that real estate commissions are negotiable, have created market niches for themselves that promise to save sellers money and rebate commissions to buyers.

How Do Discount Brokers Operate?

In Minneapolis, for example, the traditional brokerage fees are as high as 7% of the sales price. The average co-brokering fee, the fee paid to selling agents who cooperate, is often as low as 3.15%. So those listing agents make a lot more money than selling agents.
An agent in Minneapolis was advertising fees of 4.5%, giving 2.5% to the selling agents and keeping 2% for her company. After a client explained to her that she would gladly pay 5% if the agent would co-op 3% to the selling agent, the agent changed her advertising policy, figuring she was still 2% under the rate most other brokers charged.
Here are other examples:
  • Flat-fee listing policies. This brokerage takes all listings at a flat rate, paying a cooperating fee on top of that amount to selling brokers. That cooperating fee is also paid by the seller. You might see a brokerage ad offering to list your house at a fee of $2,000. Somewhere in the tiny print, if it's disclosed at all, will be a disclaimer that this fee is exclusive of the fee paid to the selling broker. This type of advertising is misleading to the consumer.
  • Small percentage-fee listing policies. Some brokers advertise it will take a listing for 1% or 2%. Again, many of these brokers don't draw attention to the fact that the selling broker, in most instances, is still paid an additional fee by the seller.
  • Buyer commission rebates. You can also find real estate agents who advertise that if you hire one of them to buy a home, the company will credit the buyer a percentage of its commission or a flat-fee at closing. This money comes from the fee the seller pays the broker who presents the buyer. Generally, a company that elects to give away part of its income to buyers does so in the hopes that it will attract such a huge volume of business that it won't miss the money. You may or may not receive individualized attention and service due to increasing pressure on these low-profit companies to keep the business coming in the door.
     
  • Graduated fee policies. These brokers offer a cornucopia of fees and services, depending on the type of representation and work required. For example, if you think you can sell your home without any assistance from the listing broker, you might be able to work out an arrangement for MLS input only. This means the broker will put your home into the multiple listing service but take no phone calls from agents, will not show your home, nor put a sign in the yard or advertise it elsewhere. Some MLS groups prohibit this practice, but it's done anyway. On the other hand, if you want the listing broker to handle increased responsibilities, the fee will go up, but it will still be less than most full-service brokerages charge.
  • Reduced fees in exchange for another transaction. A few brokerages subscribe to the theory that two in the bush is better than one in the hand. If you agree to buy a home through the listing brokerage instead of hiring a selling agent, many times the broker will reduce the listing commission fee.

Why Would Sellers / Buyers Accept Reduced Services?

To save money. That's the number one motivation. Some sellers are extremely savvy about selling their own homes and don't believe they need a full-fledged marketing campaign. Sometimes they don't. Especially if it's a seller's market.
I once sold a home in one afternoon. I'd been thinking about selling, and had an old metal For Sale sign in my garage that was rusting out. When I saw the next-door neighbors were holding an Open House one Sunday afternoon, I dashed outside and stuck the sign in my yard. The house sold that afternoon. Some markets are like that.

Saturday, July 30, 2011

How To Get Your Home Sales to the Closing Table

How To Get Your Home Sales to the Closing Table

Techniques for Real Estate Agents

It's surprising how many real estate agents feel the most important part of their job is getting a signed contract. In the real world, a contract is just the beginning for any agent who plans to take the real estate profession seriously.  
Closings Don't Just Happen
What about getting the sale to closing? Most closings don't just happen, they take place because at least one agent involved in the transaction makes the effort to ensure everything is progressing as it should.
I've seen many contracts fall apart simply because the agents weren't staying in touch with their clients and other parties involved in the sale. They sent their clients off with a few names, waved good-bye, and said see you at closing. Does that sound crazy? It sure is, but it happens–more often than you can imaginep] The bottom line: no closing, no commission–and probably no referrals, your future income. Those of us who plan to be around for the long term must show that we are the people clients can look to for advice and results.
Agents Working with Buyers
Ask the lender for a list of items required for closing, and find out if they provide online or faxed loan status updates. If not, talk to the lender as often as necessary to make sure all work is being done–on your part and theirs.


  • If you're working with a VA or FHA loan, make sure you're up-to-date on all the current requirements.




  • Be sure deadlines are met, such as promised dates for all inspections and loan commitments. Convey all information to the seller's agent on time.




  • Although you shouldn't steer a client to specific individuals, you should provide a list of service professionals who have good track records: surveyors, home inspectors, pest control companies, attorneys.




  • Go with your clients to inspections if possible, sticking to the sidelines and watching what takes place. Home buyers are more likely to be stressed if repairs are required, even if they are minor. A thorough understanding of needed repairs makes it easier for you to counsel your clients and negotiate with the other agent if necessary.




  • Don't forget to give your clients a list of all utility companies that service the new home. They'll need to arrange for services to begin on the day of closing.




  • Make sure clients are talking with someone about home insurance. That sounds pretty elementary, but many home buyers wait until the last minute to obtain an insurance rider.




  • In my state, most closings are managed by attorneys, and an attorney performs the title search. In other states title companies perform the title searches. Make sure arrangements are made for the type of work required in your area. In short, make yourself available and stay informed.
    Agents Working with Sellers




  • If a commitment date passes with no confirmation from the buyer's agent, call the agent to find out why it's late, and when it can be expected.




  • The appraisal is critical. If more than a few weeks go by with no appraisal, get on the phone to find out why. After the appraisal is complete, verify that the results meet the lender's expectations.




  • Your office staff should tell you when inspections are scheduled, since the inspector must enter the house. Call the buyer's agent the next day to ask for feedback. If there's a problem, you want to know now, not in two weeks.




  • Check-in with the other agent occasionally, to make sure things are progressing as they should.




  • Remind your clients about utility shutoffs or transfers.




  • If your clients are selling one house to move to another, you may be handling two transactions. That means double-duty in making sure both deals are progressing towards synchronized closings. Every transaction is different, you'll sometimes have problems that are deal killers. It happens. But it shouldn't happen simply because someone doesn't do their job.



  • Becoming a Success Real Estate Agent




    Monday, July 25, 2011

    How to Interview an Agent

    How to Interview an Agent

    Smart consumers interview potential real estate agents before deciding on whom to hire. Just as you are sizing up the potential for a good fit, rest assured that the real estate agent will likely be interviewing you, too. Be wary of agents who don't ask you questions and probe for your motivation. You wouldn't work with just any agent off the street, and good agents are just as selective about their clients, too.
    Caution: Don't interview agents from the same company!

    1. How Long Have You Been in the Business?


    The standard joke is there's nothing wrong with a new agent that a little experience won't fix. But that's not to say that freshly licensed agents aren't valuable. Much depends on whether they have access to competent mentors and the level of their training. Newer agents tend to have more time to concentrate on you. Some agents with 20 years of experience repeat their first year over and over. Other 20-year agents learn something new every year.
     

    2. What is Your Average List-Price-to-Sales-Price Ratio?


    Knowing the agent's average ratio speaks volumes. Excluding sizzling seller's markets, a good buyer's agent should be able to negotiate a sales price that is lower than list price for buyers. A competent listing agent should hold a track record for negotiating sales prices that are very close to list prices. Therefore, listing agents should have higher ratios closer to 100%. Buyer's agent ratios should fall below 99%.

    3. What is Your Best Marketing Plan or Strategy for My Needs?


    As a buyer, you will need to know:
    • How will you search for my new home?
    • How many homes will I likely see before I find a home I want to buy?
    • Will I be competing against other buyers?
    • How do you handle multiple offers?
    • Do you present offers yourself?

    As a seller, you will need to know:
    • Specifically, how will you sell my home?
    • What is your direct mail campaign?
    • Where and how often do you advertise?
    • Will you show me a sample flyer?
    • How do you market online?

    4. Will You Please Provide References?


    Everybody has references. Even new agents have references from previous employers.
    • Ask to see references.
    • Ask if any of the individuals providing references are related to the agent.
    • Ask if you can call the references with additional questions.

    5. What Are the Top Three Things That Separate You From Your Competition?


    A good agent won't hesitate to answer this question and will be ready to fire off why she is best suited for the job. Everyone has their own standards, but most consumers say they are looking for agents who say they are:
    • Honest and trustworthy
    • Assertive
    • Excellent negotiators
    • Available by phone or e-mail
    • Good communicators
    • Friendly
    • Analytical
    • Able to maintain a good sense of humor under trying circumstances

    6. May I Review Documents Beforehand That I Will Be Asked to Sign?


    A sign of a good real estate agent is a professional who makes forms available to you for preview before you are required to sign them. If at all possible, ask for these documents upfront.

    As a buyer, ask for copies of the following:
    • Buyer's Broker Agreement (is it exclusive or non-exclusive?)
    • Agency Disclosures
    • Purchase Agreement
    • Buyer Disclosures

    As a seller, ask to see:
    • Agency Disclosure
    • Listing Agreement
    • Seller Disclosures

    7. How Will You Help Me Find Other Professionals?


    Let the real estate agent explain to you who she works with and why she chooses these professionals. Your agent should be able to supply you with a written list of referring vendors such as mortgage brokers, home inspectors and title companies. Ask for an explanation if you see the term "affiliated" because it could mean that the agent and her broker are receiving compensation from one or all of vendors, and you could be paying a premium for the service.

    8. How Much Do You Charge?


    Don't ask if the fee is negotiable. All real estate fees are negotiable. Typically, real estate agents charge a percentage, from 1% to 4% to represent one side of a transaction: a seller or a buyer. A listing agent may charge, for example, 3.5% for herself and another 3.5% for the buyer's agent, for a total of 7%.

    9. What Kind of Guarantee Do You Offer?


    If you sign a listing or buying agreement with the agent and later find that you are unhappy with the arrangement, will the agent let you cancel the agreement? Will the agent stand behind her service to you? What is her company's policy about canceled agreements? Has anybody ever canceled an agreement with her before?

    10. What Haven't I Asked You That I Need to Know?


    Pay close attention to how the real estate agent answers this question because there is always something you need to know, always. You want an agent to take her time with you -- to make sure you feel comfortable and secure with her knowledge and experience. She should know how to listen and how to counsel you, how to ask the right questions to find out what she needs to know to better serve you.

    Friday, July 22, 2011

    How to Sell property even in Down Market

    How to Sell property even in Down Market

    Marketing to Real Estate Investors During Down Markets

    If Prices are Down, It Could be Time for Investors to Move

    Depressed home prices generally cause concern with home buyers. They do not necessarily want to purchase a home when it may be worth less next year. Examples of declining home prices are rare since 1991, however the period from 2005 through 2007 is a great example.
    The home price indexes show differing severity in depreciation for the two years from 2005 through 2007. The Case-Shiller Home Price Index was the most depressing, with the OFHEO (Office of Federal Housing Enterprise Oversight) showing less severe price drops.
    What enterprising brokerages do to respond to this very dramatic decrease in retail home buying activity is to market to real estate investors. When coupled with a huge increase in foreclosures due to Adjustable Rate Mortgages (ARMs) adjusting to rates not affordable for the homeowners, the stage is set.
    Articles and web pages began to appear, making several points of interest to residential rental property investors.

    • Home price declines present opportunities to purchase bargains that will generate positive cash flows.
    • Stable homeowners were losing their homes, but not their jobs.
    • Homes in good neighborhoods were available for purchase at lower prices than in recent history.
    • Demand for single family homes in good neighborhoods was up.
    There can be opportunities in just about any real estate market, one just has to look for them. These brokerages created investor client relationships that resulted in multiple transactions over time.

    Secret , how to use technology to get potential transaction

    1. Using a Netbook or iPad for Your Mobile Real Estate Office

    The first piece of the mobile real estate office is of course the computer. It's the core piece, but the steps that follow will fill out the picture with tools to use our computer remotely. While a notebook computer is fine, many have moved to the netbook for the smaller form factor. With WiFi access, you can work with documents, send emails, work online and more. So, sitting in a customer's hotel room or home isn't a problem...if you have the WiFi.
    As for the iPad, you lose some functionality, but I use it almost exclusively when I'm traveling. I take the netbook for the now-and-then task that I can't accomplish with the iPad. Also, just because of many years of keyboard work, I find it faster to work in the netbook for many tasks. But, the long boot time, shorter battery life and heavier weight make it a second choice when the iPad will get the job done.
    So, for the first component of our real estate mobile office, I recommend a netbook with at least a 10 inch screen, and/or an iPad. One definite advantage of the netbook comes in our third step when we talk about printing and scanning. With no USB ports, the iPad just can't do what the netbook can.
    Now let's look at the next piece, getting our WiFi access when and where we need it.

    2. Carry Your WiFi 3G Hotspot With You for a Mobile Real Estate Office

    We now have our netbook computer and/or our iPad, but now we need to be able to access the Web from wherever we are, preferably without traveling to a WiFi hotspot. I've written about my use of the Verizon MiFi device, which provides this capability, but the $60/month access fee was a bit steep unless you use it a lot.
    Well, the situation is now better, with two phones from Verizon that have 3G hotspot capability as a part of the cell phone. I bought a Palm Pre Plus, and can turn on a hotspot at any time, for use by multiple computers or devices. It works great, and now I don't have to carry the phone and a WiFi box, and worry about multiple different batteries to keep charged. The same level of access is also less expensive with the phone hotspot.
    With the Palm Pre, I have Web access for the netbook or the iPad wherever I get cell service. I have no problem accessing Zipforms Online and doing contract documents. In fact, there's an app with the iPad that makes it easier yet. Now I can do purchase agreements, counter offers, and other documents in my customer's home, hotel room or other location.
    That's all great, but it isn't good enough unless I can easily print out the document to get their signatures. Sure, some love their tablet computers for signatures, but I found it a pain to try and show my client the contract clauses on the screen for explanation, then keep turning the computer around for their signatures. They prefer the paper, and the last piece of our mobile real estate office, printing, is next.
     
    3. HP Web Enabled Printer for Your Mobile Real Estate Office

    In our first two steps, we talked about the computer we'll need for our mobile real estate office, and then about an easier and less expensive way to carry around our own mobile 3G hotspot as a cell phone feature.
    Now, let's talk about printing. Sure, some of us are already carrying a printer in the vehicle, powered off of our car electric system. But, when I switched much of my out-of-office activity to the iPad, a physical USB connection wasn't there. Besides, all of those cables were a pain anyway. Well, HP responded with a printer series that communicates with the Internet via WiFi. It has its own email address. I can email a document as an attachment, and the printer receives and prints it.
    Now, here's my remote office routine with a customer:

    • We're meeting at their home to do a listing or purchase agreement.
    • I get the details, their information, and use my Palm Pre hotspot and iPad to fill out the documents online.
    • I email the documents as an attachment directly to the HP D110a Printer.
    • Excusing myself, I go to my vehicle, the printer picks up my Palm Pre hotspot, and it receives the email and prints the documents.
    • I take them back in for signatures.
    • If you're using a netbook, you can take them back out and use the scanning function of the printer via USB to scan in the signed documents and print the customer a copy. With the iPad, I just tell them I'll do it back at the office and email them a copy
    It's as easy as 1-2-3! You can set up a truly mobile real estate office with these tools.

    Wednesday, July 20, 2011

    What is Buyer Agency?

    Buyer Agency 

    Buyer agency is defined as a principal-agent relationship in which the broker is the agent for a buyer, with fiduciary responsibilities to the buyer. What does that mean? It means that as a buyer's agent you are tied to the buyer, and that all of your loyalties are to the buyer.
    Buyer agency is a relatively new concept for the real estate world. In the past, agents were Seller's Agents, working for the person who signed a contract employing them to sell real estate. Over time that arrangement resulted in too many misunderstandings. A buyer working with a Seller's Agent often regarded that person as his agent, and felt free to make confidential statements, not understanding they would be passed on to the seller.
    Complaints were made to real estate commissions, and lawsuits were filed. As a result, many states now require us to explain agency status to the buyer. In North Carolina we must make this disclosure at the first significant contact. Agents in our office talk with a great number of long-distance buyers, so that means we often disclose agency status over the phone.
    In today's real estate world, you'll find agents who work as Seller's Agents and Buyer's Agents, and in some areas you'll see Dual Agents and Designated Agents. Here's a simplified recap of those terms.


    Seller's Agent Your duty is to obtain the best deal for the seller. You are allowed to give the buyer only material facts about the property. A Seller's Sub Agent is an agent from another office who is not working as a Buyer's Agent.
    Buyer's Agent Your duty is to obtain the best deal for the buyer. You may pass on any and all information you obtain about the seller or the property.
    Dual Agent You must be loyal to both parties. Dual agency occurs when a real estate agency owns a listing, and an agent from the office, working as a buyer's representative, shows that listing. In areas where it's allowed, Dual Agency must be disclosed and agreed-to in writing by both parties. Roger Cumbie, one of our area real estate educators, compares Dual Agency to "walking a tightrope," since it's sometimes difficult to focus on the needs of one client versus the other.
    I will work as a Dual Agent only if the seller is not my own lister. That's a personal choice, and not all agents feel the same way.
    Designated Agent Very similar to Dual Agency, and also not available everywhere. The broker-in-charge designates two agents to work a transaction, one for the seller, one for the buyer.

    How Do I Choose the Best Property Brokerage?

    How Do I Choose the Best Property Brokerage?
    Choosing the best property brokerage is extremely important if you want to get the best possible price for the property in question. There are many different ways to search for brokerages of this type, including online or through some type of national or international network. In order to make sure that the property brokerage firm selected is the best for your needs, make sure to consider such factors as the reputation of the brokerage, the schedule of fees, charges and commissions that apply, and the expertise of the brokerage in selling similar properties.
    When investigating the reputation of any property brokerage, it is important to look closely at how that business is perceived in the community where the property is located. One mistake that many people make is to look at the reputation of a nationwide brokerage and assume the quality of service offered in other places will be similar in the local setting. Rather than making that assumption, find out how others in the community perceive the professionalism, integrity and honesty of those working in the local office of that national brokerage. Only consider them as a viable option if that local reputation is positive and appears to meet your own personal standards for business partners.

    Along with reputation, it is important to select a property brokerage that has experience with the type of property you wish to sell. Some brokerages take on properties of all types, while others may specialize in a limited number of property types. If you have a manufacturing plant to sell, working with a hotel brokerage is likely not the best idea. Make it a point to ask for references from clients who have sold similar properties through the brokerage, and contact the references. If those clients indicate they are happy with the way the property brokerage firm handled their properties, consider the firm a possibility.
    In order to achieve the maximum return on your property, it is important to look closely at what types of charges and fees each potential property brokerage will assess while attempting to sell your property. This includes getting some idea of the percentage of the commission that will be due once the property is successfully sold. Keep in mind that while one firm on your list may be the cheapest brokerage, that does not automatically mean it is the best option. Go with the cheaper firm only if the necessary expertise, positive client feedback, and general local reputation of that brokerage is equal to your other options. By basing your decision on more than just cost, the chances of finding the right property brokerage and selling your property at a reasonable price are greatly enhanced.

    Sunday, July 17, 2011

    Profit in Real Estate Without Cash, Credit or Risk!

    Looking to get started in real estate investing but don't know where to start? Don't have enough cash or credit to purchase an investment property? Afraid to take on payment risk? Too confused on lease options, pre-foreclosures, buying "subject to" or short sales? Yeah, so was I. But then I discovered a way to make money in real estate in a SAFE way, and now I can share this information with you. For less that the cost to fill up a Pinto with a tank of gas, I am going to teach you

    HOW TO MAKE $5000 OR MORE PER DEAL
    FINDING AND ASSIGNING
    UGLY PROPERTIES AND SUBJECT-TO DEALS

    WITHOUT CASH, CREDIT OR RISK

    Face it, you would not be reading this information on wholesaling real estate or flipping properties if you were not interested in making money in Real Estate. You may have heard all about buying properties, fixing them up (rehabbing) and reselling them. While that is a great way to make money, it does take a combination of cash, credit and risk. I am going to show you how to make realistic profits without any of the risks. I will also show you how to help desperate sellers sell homes with little or no equity to buyers who can't quality for a traditional mortgage!
    WHAT DO YOU MEAN BY "FIND AND ASSIGN"?
    Using our program, you will learn how to find properties that are in need of rehab work, then make an offer on the property that guarantees another investor the profits that he can make after he rehabs the house and resells it. You will then learn how to find these investors and assign them the contract you negotiated with the homeowner. You get your assignment fee of around $3000 to $6000, guaranteed at settlement. You will also learn how to use an option to purchase the property and assign the option to an investor for an assignment fee, which you get right away, whether or not the investor buys the property!
     
    UPDATED FOR THE CURRENT REAL ESTATE MARKET!
    You will also learn how to find sellers who can't sell their home and who may be open to letting a new buyer take over their mortgage payments so they can move on. This is my "Sub2 Assignment" bonus (Bonus #7) that lets you make an average of 5% on homes that are in move-in condition! The techniques are very similar to what is being promoted in the $995 Mortgage Assignment program that you see all over the net. This method is much easier than finding and assigning ugly homes.

    WHY IS THIS A BETTER WAY TO MAKE MONEY THAN ANY OTHER REAL ESTATE METHOD?
    There are several ways to make money in real estate investing, from buying and holding rental properties, to buying and renting properties on a short-term lease-option, to buying deals subject to an existing mortgage, to doing a short-sell on a non-performing mortgage, to buying and rehabbing properties. While these are all great ways to generate cash flow or build wealth, they all take some degree of risk, plus cash or credit and a lot of time. Using the "Find and Assign" approach, you have the following benefits:
    No Need for Excessive Cash or Credit: You are not taking title to a house and thus have no need for cash or credit. All you need is $10 for an Earnest Money Deposit, or perhaps $100 for a purchase option, and some nominal amounts for business cards, classified ads and mailings.
    No Repair Headaches: You will not be involved in the rehab of the home, thus you do not have to worry about monitoring your contractor, dealing with cost overruns or getting permits and inspections done.
    No Holding Costs: You will have no payments to make, no property taxes to pay and no insurance to obtain.
    Ready Market of Sellers and Buyers:  Using the techniques in this package, you will learn about 16 ways to find motivated sellers, and 7 ways to find eager buyers who will purchase your contract from you.
    Fast Profits: You can make your first $5000 in less than 30 days.

    YOU WILL LEARN EVERYTHING YOU NEED TO GET STARTED NOW!
    I want you to get started making offers on properties by next week. In my book, you will learn everything you need to do just that. Here is a chapter summary:
    Chapter 1. Ways to Make Money in Real Estate
    I will tell you about the traditional ways of making money in real estate, plus give you some of the things that can go wrong in the process. I will teach you how a $30 investment can keep you from hundreds of dollars in monthly negative cash flow.  You will learn about buying homes subject to an existing mortgage, using a lease-option for better cash flow, and how investors buy foreclosure properties. You will also learn the benefits and pitfalls of rehabbing properties.
     
     
    Chapter 2. Getting Your Ducks in Order
    You will learn how to choose your business entity, and how to avoid paying the self-employment tax on most of your profits through the use of a Limited Partnership. You will also get a list of the tax deductions you may take and how to file your return. You will also find out what to look for in an attorney, an accountant and a title company. I also give you an overview of what a hard money lender is and why they are important in this business.
     
     
    Chapter 3. Finding Motivated Sellers
    You will learn 18 ways to find motivated sellers, with specific examples of ads, business cards, fliers and letters to mail. You will learn how to determine if a seller is motivated, plus you will learn how a simple 20 cent item will keep your name in front of prospects for months and months. I will also teach you how to use the Internet as a powerful marketing tool! Once people start calling you, You will know exactly what to ask them to see if you can do business!
    JUST ADDED! I have just added several pages on how to market to attorneys, as they can be a source of highly profitable deals for you. You will learn several ways to reach them, plus one way that can land you in legal hot water and cost you thousands of dollars! You even get a letter that you can send to attorneys plus three important items that should go with EVERY mailing!
    You will also learn about a little-tapped source of properties that will make it easy for you to find unlisted properties that can have potential equity profits of $50,000 and more! You will be one of the only individuals who are contacting these people.
     
    Chapter 4. Analyzing a Deal and Making an Offer
    You will learn how to get the lowest price possible for the house by asking two simple questions. I will show you exactly what to do in order to take a deal subject to an existing mortgage, and how to do a short sale on a property with no equity. I give you a detailed checklist of what to look for when inspecting a property, covering the structure, the fixtures and the landscaping. Then, you will learn how to use the Maximum Allowable Offer formula to determine the max you should offer for the property, after taking into account the holding costs of your buyer plus your assignment fee. To get you out of a bad deal, I have included 6 powerful escape clauses. You will also learn when to use a purchase option instead of an agreement of sale, eliminating any risk.
     
    Chapter 5. Preparing a Property Overview Package
    The key to getting top dollar for your assignment is to put together a complete property overview package to show to potential buyers. You will learn how to obtain the history of the property, including any deed problems, get the exact structural record, obtain comps, get zoning status, obtaining an insurability report, and other key ingredients of the overview package. You will also learn the 7 important questions to ask of contractors who are giving you estimates.
     
    Chapter 6. Finding Buyers for Your Contracts
    I will show you 7 proven methods to find buyers for your purchase agreements or option agreements. You will get sample ads and cards to use. I have included two amazing ways to find dozens of qualified buyers in one spot who would be happy to pay you your fee if you present a properly structured deal. You will also learn how to use the Internet to find eager buyers and how to post your Property Overview Packages online to automate your selling process. Finally, you will learn how to close the assignment deal and guarantee that you will get your assignment fee! I also can help you put together a local joint venture program to fund a rehab project, complete with project management from myself.
     
     
    Chapter 7. Investing in HUD Homes
    Here is a good overview of what HUD homes are, how to find them and how to bid on them. You will learn about the terms and conditions of purchase, why you should work with a good real estate agent, and where you can find all you need online.
     
    Chapter 8. Cash Flow and ROI Analysis
    In this chapter you will learn all you need to in order to understand cash flow analysis on a rental property, using the included Property Analyzer for Excel. Topics covered include closing costs, down payment, amount financed, private mortgage insurance, rental income, pre-tax and after-tax cash flow, taxable rental income, mortgage reduction, equity growth, depreciation, depreciation recapture, capital gains taxation, net settlement proceeds and compound return on investment (ROI). This section will benefit you if you are thinking about holding properties for rental.
     
    Chapter 9. Basic Principle of Real Estate
    Learn all the fundamentals of purchasing and owning real estate. This chapter covers such topics as bundle of rights, property limitations, eminent domain, deed restrictions, environmental issues, encumbrances, liens, freehold and leasehold estates, types of ownership, kinds of title, title insurance, types of deeds, and why you should use a buyer's agent when investing in real estate.
     
    Chapter 10. Creating Cash with Discounted Notes
    This chapter teaches you the basics of the note brokering business. You will learn how and why seller-financed notes are created and why there is a market for converting a payment stream into a lump-sum amount of cash. Once you know how to find holders of notes and buyers of notes, you will be able to bring the parties together and collect a fee of as much as 10% of the note amount! I will give you sample ads to run, plus letters you can send to note holders (and how to find them). I will also give you a script to use when prospects call you, plus a follow-up letter, and several sources of note buyers.
     
    Chapter 11. Mortgage Loan Officer Marketing
    Want to learn how to make a good income as a loan officer? In this chapter you will learn how to get set up with a mortgage broker, and 9 proven ways to instantly get prospective borrowers with little or no money. I'm not talking about using internet leads either (they are a real waste of money). You will also get a copy of a report that I send to all my loan prospects that teaches you the inside secrets that mortgage brokers don't want the public to know. It is eye-opening, to say the least! I will also tell you about my special mortgage loan officer mentoring program that you can use to get your career started. If you are already selling mortgages and need some ways to get non-competitive leads, you will love this chapter! If you are looking to break into this highly profitable business, this chapter will get you started.
    Chapter 12. Profiting in Foreclosures, Short Sales and the Double Close
    You are going to learn how you can create instant equity in homes that are over-leveraged by using a short-sale, and how to flip these homes through something called a "double close". You will also learn about a company that will provide you with the money you need to complete the short sale purchase, with NO credit check, NO income verification, NO employment check, NO bank records, NO tax returns (NO kidding!) You will also be provided with a link to some excellent tutorials on the short sale process and how to do the deals. With all of the homeowners going into foreclosure, you will be able to get banks to accept offers well below the outstanding balances, BEFORE these homes go into foreclosure. By following the instructions in this chapter, you will be able to flip these properties to buyers and make between $5,000 to $20,000 per deal!
     
    Appendix A - S. Forms, Letters and Ads
    All of the forms, letters and ads are included. You can copy them or make modified versions of your own. They are the same as what you get in Bonus# 1 and Bonus# 2, except that these are the printed versions. Your bonuses are sent in as clickable HTML links or "Word" documents. The Purchase Option Package is three forms that let you use an option to purchase the property, exercise the option, and assign the option.

    EVALUATE THE BOOK FOR 14 DAYS, RISK-FREE
    You have 14 days to read my book, and if you don't want it, you can send it back. If you do decide to keep it, you will receive the following three bonus packages sent to you via e-mail. You will then be able to click on all the Internet links (over 120 links in all), and open up the forms and letters with your word processor.

    BONUS #1 : 90 REAL ESTATE RELATED WEB PAGES!
    As an added bonus, I am going to share with you over 90 different Internet links to valuable websites where you will find the following:
    • How to buy foreclosure and pre-foreclosure properties
    • Real estate law and tax law articles
    • Sources of pre-foreclosure leads
    • How to purchase property subject to an existing mortgage
    • General and specific real estate investing articles
    • 100 Pages of FREE real estate investing secrets
    • How to find owners of vacant homes
    • FREE real estate and other legal forms and documents
    • Real estate forums and discussion groups
    • 11 Hard-money lenders
    • 24 Sources for online comps
    • Avoiding the "due-on-sale" clause on "Sub2" deals
    • 50 More real estate investing articles
    • FREE Property analyzer software
    • Real estate success stories
    • 15 FREE real estate investing lessons
    You will learn more on these sites than you will in almost any $1000 course out there. I spent months finding and researching these sites, and I guarantee that you will find them to be extremely valuable in increasing your real estate investing knowledge. And remember, if used properly, Knowledge is Power!
    BONUS #2 : ALL THE FORMS AND LETTERS YOU WILL NEED!
    For a second bonus, you will get all the forms and letters in electronic format you will need to find and assign properties. There is nothing else to purchase. Here is what is in your book and in your zip file as "Word" documents:
    • Real Estate Purchase Agreement
    • Assignment Agreement
    • Bird Dog Agreement
    • Limited Liability Company Agreement
    • Joint Venture Agreement
    • Limited Partnership Agreement
    • Letter to Vacant Property Owners
    • Letter to Real Estate Agents
    • Letter to Contractors
    • Letter to Out of State Homeowners
    • Letter to Homeowners Facing Foreclosure
    • Letter to Townships
    • Letter to Attorneys
    • Letter to FSBOs
    • Mileage and Expense Reporting Form (for income tax preparation)
    • Rehab Repair Estimate Form (same as used by hard money lenders)
    • Contractor's Agreement (to use if you choose to rehab the property)
    • Purchase Option Package (Option to Purchase, Exercise of Option, and Assignment of Option)
    • Mortgage Application Package
    Plus, you get sample ads, card and flyers that are all proven to work!
    BONUS #3 : FREE BOOK - "How To Create Multiple Streams of Income Buying Homes in Nice Areas With Nothing Down!"
    FREE E-book. Learn directly from the two men responsible for re-writing the rules of real estate investing exactly how you can buy homes in nice areas with nothing down in this best selling 288 page book!

    You'll Learn:
    • Five, Fun Easy Ways to Earn Up to an Extra $100,000 This Year Investing in Real Estate!
    • Wealth Without Risk: How to Build a Million Dollar Net Worth in Five Years or Less - Working From Your Home!
    • How a retired minister made $28,000 on his very first deal - and how you can too!
      How a commercial airline pilot made over $75,000 from his first four deals - and how you can too!
    • How a mother of three made $30,000 on her first deal - and how you can too!
    The download link to this e-book is included with your purchase.
     
    BONUS #4 : FREE Property Analyzer for Microsoft Excel
    Quickly evaluate any prospective rental property for pre and after tax cash flow, monthly net income, annual mortgage reduction, annual equity build-up, accumulated depreciation, settlement proceeds, depreciation recapture tax, long-term capital gains tax, net profits, and compound return on investment over a 15 year period. It also lets you compute estimated closing costs covering 12 major settlement categories. A second feature is that you can calculate your estimated acquisition, financing and repair costs on a property you may want to rehab or assign to another investor. It uses all the categories in the Rehab Estimate Form, plus the points, fees and interest charges made by hard money lenders. Just enter estimated material and labor costs and you will have an immediate answer.
     
    For a rental property, simply enter the purchase price, down payment, interest rate, term of the mortgage, monthly rent, property tax, insurance, condo/association fees, other expenses, tax bracket, and assumed rates of inflation and property appreciation, and you will get all of the following data for 15 years:
    • Monthly mortgage payment, including when private mortgage insurance applies.
    • Monthly net rent, interest, depreciation, pre-tax income, pre-tax cash flow, after-tax cash flow.
    • Annual mortgage reduction, annual equity build-up, annual property value, annual cash flow yield and annual equity yield.
    • Sale price, mortgage balance, settlement proceeds, gross profit, depreciation recapture, capital gains tax, net after-tax profits, and compound return on investment.
    • Closing costs include title insurance, state and local transfer taxes, mortgage application fees, mortgage points, recording fees, attorney fees, pro-rated taxes, insurance and water & sewer, tax escrow, miscellaneous fees and optional repair costs.
    For a rehab or assignment property, just enter the purchase price, closing costs, assignment fee (if assigning), hard money lender fees, estimated after-repair value,  and repair estimates, and you will see how much net equity is left for you or another investor, plus how much you would net if you sold the property. There is nothing else out there like this at this price!
     
    Complete instructions and explanations are provided. Microsoft Excel is required to use this analyzer. Click Here for a non-working demo.
     
    BONUS #5 : Learn How to Find and Use Private Money!
    If you want to purchase and flip or rehab properties, you will need access to fast cash. In this special 20-page report, you how to find and use private money. This is money from private lenders that is not subject to the same restrictions that traditional lenders require. Here are some of the benefits of private money:
    • No credit score requirements
    • Borrow as much money as you need for your investments
    • No documentation (tax returns, bank statements, etc...)
    • No income requirements
    • No qualification process
    • No points
    • Favorable interest and payment terms
    • No risk to your personal credit
    • Have cash in as little as 24 hours
    • Have cash to purchase and rehab any property
    • Get cash back at settlement
    • No LTV restrictions
    • Have cash to purchase foreclosures or REO properties
    • Have cash to do deals "subject to"
    • Have cash to do Joint Venture deals
    • Have cash to do short sales
    You will learn the secrets to finding private lenders at little or no expense, and will be able to tap IRA accounts in an IRS-approved manner to get money to do your deals. You will learn what to say to these lenders, how to put together an Investor Packet, how to put together a presentation, and a request for financing. I even give you a sample post card that you can use to generate leads, plus sample ads, and real life examples of other ads that are being used by other real estate investors. You will also learn how to pool money from multiple investors to generate $200,000 or more to go after the big deals! You will learn what you need to put together a professional package that will impress any private lender, getting you all the cash you need for your deals. I also step you through the entire process of how a deal works, so you will be able to explain this to new investors. You also get a link to a website that is especially for private money investors and lenders.
    The material in this high-value report would cost you as much as $297 to learn if purchased from other sources. It is yours, as a bonus when you purchase Find and Assign!
       
    BONUS #6: Source of Private Investment Capital
     
    If you are looking for money to fund your investments, there ARE private sources other than banks and mortgage companies. I will hook you up with a company that matches private lenders and borrowers, and show you how to reduce your interest cost by joining particular groups. From the research I have done, many real estate investors have received PRIVATE cash for rehab purposes or to purchase distressed properties so they could fix them up, then refi them and turn them into rental properties. This is one site that you can't afford not to know about.
     
    BONUS #7: Assign Subject-To Deals to Unloanable Buyers
     
    In today's market, there is a better way to use Find and Assign. Instead of finding properties that are undervalued, I will teach you how to find properties where you have a motivated seller who is willing to sell their property subject to the existing mortgage, and then assign the contract over to a buyer who can not qualify for a mortgage. This is very similar to the mortgage assignment program that you may have seen in your emails, because both are based on buying properties subject to the existing mortgage and assigning the deal to a new buyer. You earn an assignment fee of about 5% of the purchase price, with this fee paid by the Buyer. 
    On a $200,000 deal, you would make about $10,000! Sub2 Assignments, as I call this program, are very attractive because there are many sellers who have little or no equity in their properties and where they are trying to avoid foreclosure. They can't go to settlement using a traditional sale process, as they can't come up with the cash they need to pay the real estate commission, the shortfall in the mortgage balance and other closing costs. Buyers love this program because they can take ownership of a property without having to qualify for a traditional mortgage. You will learn how to do a purchase option with a Seller based on a Sub2 deal, and then assign your purchase option to a Buyer who has at least 10% cash available.
    Here is what you will learn in my Sub2 Assignment program: 
    • How and why this process works 
    • Answers to all the nagging questions about Sub2 deals 
    • The 10-step process on doing Sub2 Assignment deals 
    • How to find title companies, settlement attorneys and insurance agencies 
    • How to advertise and search for sellers 
    • My super duper secret to getting an army of seller referral agents 
    • My super duper secret to getting an army of buyer referral agents 
    • How to analyze potential deals 
    • How to advertise and search for buyers 
    • How to get others to run around looking at properties for you at no upfront cost 
    • How to get the property under contract with the seller using the "subject to" language
    • How to assign the purchase option contract to the Buyer 
    • How to get the Buyer and Seller together to close the deal
    Along with all of this information, you will get the following: 
    • All the forms and disclosures you need to start dong Sub2 deals 
    • Copies of information that you can email to potential Sellers and Buyers 
    • An informative Sellers Guide that explains the whole program to interested Sellers 
    • A 16 slide PowerPoint presentation that you can use with Sellers 
    • A sample door hanger that you can get printed to use in your marketing 
    • Sample Craigslist ads that will get you buyers and sellers 
    • Equity calculator spreadsheet that shows the Seller the true effective equity in their property 
    • Links to all the resources you will need to do your deals 
    • What to say to Sellers on the phone and in their home 
    • An in-depth, 300 page guide to "Subject to" investing, covering:
      • Goal setting
      • Understanding the Due on Sale Clause in detail and why not to fear it
      • Doing deals with and without equity 
      • Understanding Land Contracts 
      • Marketing to Sellers and Buyers 
      • Sub2 exit strategies (other than assignments) 
      • How to talk to sellers 
      • Presenting the program to sellers 
      • How to close deals on YOUR terms 
      • Handling objections 
      • The "subject to" clause in the purchase agreement 
      • Sample Purchase Agreement 
      • Finding Buyers 
      • How to evaluate potential buyers from a credit standpoint 
      • Real Estate glossary
    With all of this material, forms and resources, you are just weeks away from landing your first Sub2 Assignment fee check. What are you waiting for? Similar packages like this sell for hundreds of dollars. You get all this FREE with your purchase of Find and Assign!

    BONUS #8:  26 Ways To Find Motivated Sellers
     
    I want to share with you "The Shocking Truth To Easily Creating A Team Of Super-Stealth Property Watch Dogs Who'll Find Bargains For You And 26 Ways To Find Motivated Sellers Who Are Desperate For Your Cash". In this special report, these closely guarded time-tested 26 secrets will show you how to:
    • Turn any seller into a motivated seller and explain why they are the golden ticket to profitable real estate deals
    • Track your motivated sellers, so they come back time after time
    • Build an effective marketing and advertising campaign, using both paid and free methods
    • Think like a seasoned investor so you can outwit your competition
    • Easily create a team of super-stealth property watch dogs who'll find bargains for you

      And much, much more. When you use the techniques in this report to help you find properties, you will be able to do many more assignment deals, or to purchase properties to use as investments. And, if you combine this with Bonus #9, you can do all this with nothing down!
       
    WHAT WOULD YOU PAY FOR ALL THIS INFORMATION?
    Go ahead and look around at what others are charging for a package like this. You could pay $395 or more. But not here. My normal price for this package is $39. As a ClickBank customer, all you are going to pay is $29. And there is no shipping and handling. You will receive a link so you can download the 160 page book in PDF format, which you can read with the free Adobe Acrobat PDF viewer. This lets you click on all of the internet links. You will also get all the all of the contracts, letters and forms in separate "Word" documents, sent in a "zip" format. Just open each document in your word processor, edit the blanks and print it out. To use the repair estimate form, just print it out and take it with you when you go look at a house. You will also get a copy of the book in PDF format, so you can view it on your computer and click on all the different internet links. You will also get ALL 8 Bonus packages listed above! PLUS the Boss Eliminator book!





     

    Saturday, July 16, 2011

    SURROUND YOURSELF WITH SUCCESS!

    SURROUND YOURSELF WITH SUCCESS!

    Here's a simple little technique that you can use
    right away. Since you're looking to become a real
    estate agent, the smartest thing you can do is to
    see what it's actually LIKE to be an agent
    (before you dive into it).

    You need to start associating with other
    successful agents, Friends!

    Once you surround yourself with people who are
    successful in that field, you can't help but
    become more successful yourself. Most people who
    are successful (in any area) are more than happy
    to help out someone who's just getting started.

    Trust me my friends... as soon as you start
    associating with people who are already where you
    want to be in life, you'll find yourself
    effortlessly propelled in that direction.

    Plus, these people can help you get established
    in the industry, and introduce you to important
    people.

    How do you meet these people? Just ASK! Ask your
    friends and family who they use as their agent,
    and call that agent. Let him/her know how you
    heard about them, and ask them to lunch.

    All agents need to eat lunch, don't they? If your
    family and friends don't know anybody, simply go
    to one of your local agents (preferably someone
    who works in the position that you want to work
    in), and ask them if you could take them to lunch
    in exchange for asking them questions about what
    it's like to have this job.

    Go ahead, give it a try. And if you really want
    to learn all the best secrets in this industry,
    you simply must check out my new report

    I put it up on this special web page for you.
    This is the last time you'll hear from me about
    this, so please go and check it out now. I'm
    offering a special deal for you that isn't
    available anywhere else. Here's the URL again:

    Becoming a Real Estate Agent

    Related Topics :

    1. SURROUND YOURSELF WITH SUCCESS!

    2. 3 GREAT REASONS TO BECOME AN AGENT   

    3. CHOOSE YOUR REPUTATION IN ADVANCE

    4. Doing THIS Really Isn't Fair To Other Agents, But..

    5. SPECIALIZATION