Investing In Real Estate With Lex Levinrad

One of the best ways to locate real estate deals is by something called "driving for dollars". Many of your competitors may be mailing post cards and yellow letters, or paying for expensive pay per click campaigns on Google or buying Facebook Ads. Some of your competitors may even be using automated dialers to cold call expired listings, for sale by owners or targeted lists that they have acquired. Those approaches all work great (and we use them all). But let me ask you a question. How many of your competitors are actually getting into their car and driving around looking for deals? The answer is not many! How do I know this? Because I find deals all of the time that are right in my backyard! Almost every single time I get in my car, and go driving through my target markets, I find deals. Almost every single time! Investors have become spoiled and lazy. It is easy to overlook this old approach of "driving for dollars". But it works. Driving through any neighborhood and noticing vacant, boarded up properties, houses with damage (like fire damage), and FSBO signs is not something you can do sitting in front of your computer. And all of your competitors are….. (in front of their computer). If you want to find the smoking hot deals. The ones that can make you profits of $30,000, $50,000 or more then you should start driving through your target market more and looking for these types of houses. And when you find them, there are real estate apps out there that you can download on your smartphone that could really help you locate sellers. I really like these two apps listed below (I use them both) Both of these apps do almost the same thing but with some variation. SEND FUSE > http://getsendfuse.com/ Send Fuse is free to join and only $1 a postcard to mail. You get a sequence of 6 postcards that you can have go out to owners of the property. All you need to do is text the address to your send fuse number in your phone and the postcard sequence begins. You can also add users to your Send Fuse account so you could recruit some bird dogs and offer to pay them $1,000 for any deal they bring to you, and have them download the app on their phone (with your account). I really like the ease of use and the fact that there are no fees at all. This app is very easy to use and I recommend it to my students. DEAL MACHINE > https://dealmachineapp.com/ The really cool feature about Deal Machine is that you can take a picture of the property and add it to the postcard. You can literally take out your smart phone and take a picture of a vacant, boarded up house. And then using the app you can have a postcard sent to the owner (with a picture of their house) asking them "Is this your house?". That is a very smart way of getting the owner's attention and it works really well. The response rate is way higher than a typical post card. The other really nice feature of Deal Machine is that you can look up the owners info right there and even get their phone number in some cases. Deal Machine let's you try their service out for free for 14 days and then they charge $49 per month which is really a very small charge considering what the app does. Imagine if using this app you made $30,000 profit on one house! Use this code FTCYXN to get $5 of direct mail credit when you sign up. If you are already out driving for dollars, do yourself a favor and have some bandit signs made up and keep a few in your trunk. It wouldn't kill you to put a few bandit signs out and have some sellers call you. Even better, hire your kids or someone else and pay them $1 to $2 per bandit sign that they put out. And don't forget to send out direct mail. It works! Start out by mailing a list of absentee owners since this is the easiest list to obtain. Even if you can only afford to mail out 500 postcards a month, make yourself a commitment that you will mail 500 a month for at least 6 months. If you only get 1 deal out of that mailing over the 6 month period then that would be a very good return on your investment. And don't forget to track those phone numbers when your phone starts ringing. I like Call Rail for tracking where the calls are coming from so I can see which marketing efforts are working best To see show notes and more about this episode please visit http://www.lexlevinrad.com/locatingdeals

On this podcast episode I discuss how wholesalers assign contracts when they are flipping houses and how assignments of contract work. We talk about the pros and cons of assigning a contract versus paying for a double closing and when you should double close versus assigning the contract. My personal preference is to always double close but many wholesalers that I know always assign almost every house that they flip. You can download an "assignment of contract form" at this link which was mentioned in the podcast: https://www.lexlevinrad.com/assignment

On this podcast episode I talk about something that from the guy that taught me real estate - my mentor Ben. It's the concept of urgency and how when you spot a deal you need to have the sense of urgency to understand what you have and lock it up before someone else does. I like to use the analogy of a lion in the wild. If a lion has not eaten for weeks and it spots a deer then it doesn't think to itself hmmm should I eat. No it pounces on the deer and it eats. If you are a real estate investor and you see a smoking hot deal you should't be going hmmm is that a deal. You should be pouncing on it. Hence the term "you eat what you kill".

On this podcast episode I talk about motivated seller appointments.

When you are marketing to motivated sellers, regardless of the method you use to market to sellers, you will need to go on motivated seller appointments.

On this podcast I discuss the initial lead intake form, and the type of conversation that you will have with a motivated seller. When you have that first conversation with the seller, you will need to know what questions to ask them. It is helpful if you have a script to use.

You also want to make sure that you are using call tracking in order to keep track of where your calls are coming from. If you have multiple channels like a website, bandit signs and direct mail then you need to know which lead source generated the phone call. We use call rail for that.

After you have gathered the initial data from the lead, you should move on to the appointment setting. As a new investor you should try go on as many appointments as you can. As a general rule of thumb if they have multiple pain points, you should go on the appointment.

At that point you will need to have a comparable sales report in order to estimate the ARV of the property. When you get to the property you should review the repairs needed so that you have an accurate repair estimate. Once you have that you can plug the numbers in to figure out where you want your offer price to be.

Going on motivated seller appointments is a valuable skill set and it will take some time for you to learn how to be good at it. But if you keep at it you will get better and better at identifying which houses represent the best opportunity for you to buy.

If you are brand new to real estate and want to learn more about how to wholesale real estate and flip houses then please register for the free wholesaling real estate training at this link below:

FREE WHOLESALING TRAINING

https://www.lexlevinrad.com/webinar

FIXING AND FLIPPING TRAINING

If you want to learn how to fix and flip houses I have a fix and flip training webinar at this link: https://www.lexlevinrad.com/fixandflipwebinar

DON'T FORGET TO SUBSCRIBE TO THIS PODCAST TO BE NOTIFIED OF UPDATES

SUBSCRIBE TO MY YOUTUBE CHANNEL

http://www.youtube.com/lexlevinrad?sub_confirmation=1

CONNECT WITH ME ONLINE

http://www.lexlevinrad.com

http://www.facebook.com/lexlevinradrealestate

http://www.twitter.com/lexlevinrad

http://www.instagram.com/lexlevinrad

http://www.linkedin.com/in/lexlevinrad

http://www.pinterest.com/lexlevinrad

https://plus.google.com/+LexLevinradrealestate

DOWNLOAD A FREE COPY OF MY BOOK ON WHOLESALING PROPERTIES

For more real estate tips about property investment, investing in real estate, and how to start wholesaling, download a FREE copy of my best selling book "Wholesaling Bank Owned Properties" at https://www.lexlevinrad.com

On this podcast episode I talk about motivated seller appointments.

When you are marketing to motivated sellers, regardless of the method you use to market to sellers, you will need to go on motivated seller appointments.

On this podcast I discuss the initial lead intake form, and the type of conversation that you will have with a motivated seller. When you have that first conversation with the seller, you will need to know what questions to ask them. It is helpful if you have a script to use.

You also want to make sure that you are using call tracking in order to keep track of where your calls are coming from. If you have multiple channels like a website, bandit signs and direct mail then you need to know which lead source generated the phone call. We use call rail for that.

After you have gathered the initial data from the lead, you should move on to the appointment setting. As a new investor you should try go on as many appointments as you can. As a general rule of thumb if they have multiple pain points, you should go on the appointment.

At that point you will need to have a comparable sales report in order to estimate the ARV of the property. When you get to the property you should review the repairs needed so that you have an accurate repair estimate. Once you have that you can plug the numbers in to figure out where you want your offer price to be.

Going on motivated seller appointments is a valuable skill set and it will take some time for you to learn how to be good at it. But if you keep at it you will get better and better at identifying which houses represent the best opportunity for you to buy.

If you are brand new to real estate and want to learn more about how to wholesale real estate and flip houses then please register for the free wholesaling real estate training at this link below:

FREE WHOLESALING TRAINING

https://www.lexlevinrad.com/webinar

FIXING AND FLIPPING TRAINING

If you want to learn how to fix and flip houses I have a fix and flip training webinar at this link: https://www.lexlevinrad.com/fixandflipwebinar

DON'T FORGET TO SUBSCRIBE TO THIS PODCAST TO BE NOTIFIED OF UPDATES

SUBSCRIBE TO MY YOUTUBE CHANNEL

http://www.youtube.com/lexlevinrad?sub_confirmation=1

CONNECT WITH ME ONLINE

http://www.lexlevinrad.com

http://www.facebook.com/lexlevinradrealestate

http://www.twitter.com/lexlevinrad

http://www.instagram.com/lexlevinrad

http://www.linkedin.com/in/lexlevinrad

http://www.pinterest.com/lexlevinrad

https://plus.google.com/+LexLevinradrealestate

DOWNLOAD A FREE COPY OF MY BOOK ON WHOLESALING PROPERTIES

For more real estate tips about property investment, investing in real estate, and how to start wholesaling, download a FREE copy of my best selling book "Wholesaling Bank Owned Properties" at https://www.lexlevinrad.com

On this podcast episode I talk about motivated seller appointments. When you are marketing to motivated sellers, regardless of the method you use to market to sellers, you will need to go on motivated seller appointments. On this podcast I discuss the initial lead intake form, and the type of conversation that you will have with a motivated seller. When you have that first conversation with the seller, you will need to know what questions to ask them. It is helpful if you have a script to use. You also want to make sure that you are using call tracking in order to keep track of where your calls are coming from. If you have multiple channels like a website, bandit signs and direct mail then you need to know which lead source generated the phone call. We use call rail for that. After you have gathered the initial data from the lead, you should move on to the appointment setting. As a new investor you should try go on as many appointments as you can. As a general rule of thumb if they have multiple pain points, you should go on the appointment. At that point you will need to have a comparable sales report in order to estimate the ARV of the property. When you get to the property you should review the repairs needed so that you have an accurate repair estimate. Once you have that you can plug the numbers in to figure out where you want your offer price to be. Going on motivated seller appointments is a valuable skill set and it will take some time for you to learn how to be good at it. But if you keep at it you will get better and better at identifying which houses represent the best opportunity for you to buy. If you are brand new to real estate and want to learn more about how to wholesale real estate and flip houses then please register for the free wholesaling real estate training at this link below: FREE WHOLESALING TRAINING https://www.lexlevinrad.com/webinar FIXING AND FLIPPING TRAINING If you want to learn how to fix and flip houses I have a fix and flip training webinar at this link: https://www.lexlevinrad.com/fixandflipwebinar DON'T FORGET TO SUBSCRIBE TO THIS PODCAST TO BE NOTIFIED OF UPDATES SUBSCRIBE TO MY YOUTUBE CHANNEL http://www.youtube.com/lexlevinrad?sub_confirmation=1 CONNECT WITH ME ONLINE http://www.lexlevinrad.com http://www.facebook.com/lexlevinradrealestate http://www.twitter.com/lexlevinrad http://www.instagram.com/lexlevinrad http://www.linkedin.com/in/lexlevinrad http://www.pinterest.com/lexlevinrad https://plus.google.com/+LexLevinradrealestate DOWNLOAD A FREE COPY OF MY BOOK ON WHOLESALING PROPERTIES For more real estate tips about property investment, investing in real estate, and how to start wholesaling, download a FREE copy of my best selling book "Wholesaling Bank Owned Properties" at https://www.lexlevinrad.com

This is the third podcast in a 3 part series about investing called “Investing In Distressed Real Estate”. On this podcast, I talk about short sales, the short sale process, how to negotiate short sales and the short sale package. Other topics related to short sales such as deed restrictions and loan modifications as well as flipping short sales are discussed on this podcast as well.

This is the second lesson in a 3 part series on investing called “Investing In Distressed Real Estate”. On this podcast, we learn about another type of distressed seller – the seller who is about to go into foreclosure or who is already in foreclosure. We learn about the 3 different stages of foreclosure, the foreclosure process and how properties ultimately become bank owned properties when the bank buys them back at the auction.

At that point they become REO's. Once they are at the REO which stands for Real Estate Owned stage then investors can purchase these properties. However all offers have to be cash only. Enjoy the podcast.

On this podcast I talk about investing in Distressed Real Estate. This is the first in a 3 part series about investing in distressed real estate.

If you want to learn how to wholesale real estate or fix and flip houses then it will help you if you understand what makes a seller motivated, why distressed real estate exists, what makes a seller distressed and why sellers would sell their house for way less than market value.

In this brief training video Lex shows you how to use bandit signs to market for Distressed Sellers