Two types of cases

• Summary administration – The value of the assets in the estate is under $75,000.
• • If a house is homesteaded, it could be worth $10 million, but it will be counted as $0.
  • The assets can be worth over $75,000 but only if the date of death is over 2 years ago.
• Formal administration – The value of the assets in the estate is over $75,000.
• Ancillary administration – the deceased resided outside of the state of Florida.

What kind of questions should an investor ask an heir if there is a will in place?

• Is it an original ink will?
• Does the will have the correct signature requirements?
• • Two disinterested witnesses
  • Needs to have a self-proving affidavit
• What does the will say?
• • Is there a homestead clause?
  • Is it a rest, residue, and remainder clause
• Just because someone has a will, doesn't mean their assets don't need to go through probate, it just helps the court guide the probate process.

When can you go under contract?

• If all of the heirs agree to sell the house, you can go under contract at any point throughout the probate process, but the contract might not be enforceable in the beginning.
• Once someone is appointed as the personal representative, the contract is enforceable.

Advice

• Become knowledgeable about probate and what they might be going through
• Play psychologist
• Be a trustworthy source that can guide them in the right direction
• Be the buyer when probate is done so that they can move on

Should you market to probate attorneys

• Al typically works with properties that are already under contract or already have offers.
• The attorney isn't the decision makers, they just facilitate the process.
• It might be better to contact the heirs directly.
• You still want to talk and build relationships with probate attorneys, but not for marketing.

Contact

• Facebook Business Page: Al Nicoletti
• Instagram: @AttorneyNicoletti
• YouTube: Al Nicoletti
• Phone Number: 904-246-9994
• Al hosts a webinar on his Facebook page on every second Wednesday of every month

Walking You Through The Deal

• They found the house on the MLS.
• It was on the MLS for a long period of time, with constant price drops and no current pictures.
• The house was listed for over $100,000 originally, but the listing price moved down to $72,000 over time.
• They bought it for $68,000 and put $20,000 into the house for repairs.
• They financed 80% of the purchase price with a hard money lender and negotiated a 15 day close with no inspection period.
• They renovated the house by painting, putting in new flooring, and fixing the exterior.
• After the repairs were done, they started marketing for tenant buyers.
• As soon as the tenant got in, they refinanced with a longer-term hard money loan.
• The tenant buyer paid a $2,500 option fee and paid $500 a month in rent.
• They sold the house to the tenant buyer for $160,000.
• They paid $8,700 for the lender points and interest on the loan

How they find and qualify houses

• They find 50% of their houses from the MLS and the other 50% from wholesalers.
• To qualify a house, they strictly look at the numbers.
• They want to be all in at 65% including purchase and rehab costs.

When they got paid

• When they get a tenant in, the tenant buyer pays an option fee
• While the tenant is staying in the house, they get rent on a monthly basis.
• When the lease comes to an end and the tenant buys the house, they receive the proceeds of the sale.

Why do Lease Option Instead of Long Term Rentals

• There are no realtor commission fees when the tenant buys the house.
• Lease Options are good for tax purposes because they're holding the house longer than they would if they were flipping it.
• They typically pay long term capital gains which is less than short term capital gains.

What they offer the Tenant Buyer

• They have a team that develops a plan for the tenant buyer.
• They meet with the tenant buyers every 2-3 months to make sure that they're still on track to buy the house.
• They offer a variety of services to make sure that they can buy the house, like:
• • Credit repair
  • Credit building
  • Savings plans
  • Accountability partners
  • Coaching
  • Training

How They Market to Tenant Buyers

• Paid advertising
• Craigslist
• Zillow
• Apartments.com
• Realtor.com
• Facebook
• Instagram
• Word of mouth

Contact

• Facebook: Denmark Properties LLC
• Instagram: DenmarkProperties_Flippers
• Website: RoadmapUniversity.com

Go to DealMachine.app.link/warrior to get your special offer for the Deal Machine app!

Model

• Edward started out managing properties.
• The property management company would get clients with houses that needed repairs.
• So, he started looking for properties that need minor repairs.
• He now buys houses at a discounted rate, flips the houses, then sells the houses to investors or retail buyers.
• If the house is sold to an investor, he then turns the property over to his property management company.

Advice

• Although the appliances may work in the house, you need to think about how long they're actually going to last.
• Have a rental analyzer on your team so you have more accurate numbers.
• You should be able to rent your property for 1% of the purchase price.
• Use a heat map to see where properties have been sold and to see where people are buying houses for cash.
• Research fix and flip costs in your area.
• Don't over-renovate.
• Reach out to wholesalers to get put on their buyer's list.
• Get your property manager on your team before you buy a house.
• You want tenants to stay in your house over a long period of time, so treat them with respect.
• Make sure you pre-screen your tenants, a tenant screening handbook is provided at veteranlandlord.com.
• Pay attention to things like rent class and school districts when looking for a long term rental property.

Contact

• Website: veteranlandlord.com
• Facebook: facebook.com/Edward.odaniel
• YouTube: Veteran Landlord

How do you acquire 4,000 properties in 30 months after acquiring your FIRST property? Join us today as we talk to Michael Morawski about how he did it. Michael is a 30 plus year real estate investment veteran. He has controlled over $285,000,000 in real estate transactions. Mike is an entrepreneur, author, real estate trainer, public speaker, and personal coach, with strong personal resilience and a deep desire to help others live an extraordinary life. He has coached hundreds of real estate investors to fulfill their dreams.

Term

• Syndicating – finding people with similar interests and pooling their money to invest in real estate.

Advice

• You shouldn't close on a deal until you know what your exit strategy is going to be.
• Don't get emotionally attached to a deal.
• Have someone on your team that will point out the bad parts of a deal to help you make better decisions.
• Nothing changes in your business life until you change personally.
• Life isn't about material things, it's about character.
• Have gratitude for what you do have and don't dwell on what you don't have.

Transitioning from single family to multifamily

• Walk slow and learn what you need to learn along the way.
• The business is all about systems and strategies.
• Run your own numbers, don't just listen to the broker and seller.
• Figure out why your goals are important.
• Do something that's going to absorb your profitability and then do the deal again.

Buying smaller multi-unit properties vs. larger multi-unit properties

• Evaluate the traps the same way
• Negotiate contracts the same way
• Do your due diligence the same way
• More units just takes more time

Contact

• Email: [email protected]
• Instagram: @mike.morawski.54
• Facebook: Mike Morawski
• Twitter: @MikeMorawski2

Book

• Mycoreintentions.com/exitplan

Desire Based Focus

• Really understanding what you want and why you want it
• Look at the 5 key areas of your life
• • relationships, health & wellness, education & profession, money, and spirit

The Spiritual Side of Real Estate

• Defeat is when you decide to quit, failure is the first step to success.
• If you're not willing to fail, you're never going to succeed.
• You can use the principles from Think and Grow Rich in all areas of your life.
• Focus on two areas of your life at a time.
• You don't have to sacrifice anything but you have to be willing to give in return.
• Everything in life is 80% mentality and 20% strategy.
• Once you're aware of your negative thinking, you can control, direct, and eliminate it.
• Get emotionally connected to your desire.
• There's only certain things that you can do physically, but intellectually and spiritually, you are unlimited.
• Don't let other people's demons dampen your spirits.

The Principles

• Desire
• Faith
• Auto-Suggestion
• Specialized Knowledge
• Imagination
• Organized Planning
• Decision
• Persistence
• Power of the Master Mind
• The Mystery of Sex Transmutation
• The Subconscious Mind
• The Brain
• The Sixth Sense
• How to Outwit the Six Ghosts of Fear

Contact

Email: [email protected]

Website: yourfocusguide.com

Go to DealMachine.app.link/warrior to get your special offer for the Deal Machine app!

Terms

• Wholesaling – Where you flip the contract of a house to an end buyer without ever purchasing the house
• Wholetailing – Where you close on the contract and then put the house up on the MLS

Walking you through the deal

• She found the house on Propstream from a list of divorcees.
• The seller said that the house was appraised for $75,000, and Marlena agreed.
• If she fixed and flipped the property, she knew she could get the value up to $150,000 with comps to back it up, however, that was not her plan.
• She set her maximum allowable offer at $59,000.
• Seller wanted $75,000, Marlena said that they could not move forward with that number, so they dropped it down to $50,000.
• Marlena put the property out to their buyer's list in hopes of wholesaling the contract and got offers that were around $70,000.
• She wanted her margins to be greater, so she decided to wholetail it instead.
• They listed it on flatfee.com and got multiple offers right away.
• They picked out an offer and were ready to close in two weeks, but they had an open lien search so they extended the closing date.
• After the lien search came back, they closed on the house and sold it for $100,000.

Contact

• Facebook: Marlena Dates
• Calendly.com/marlenadates

Advice

• Find a way to leverage the skills that you already have.
• If you need to do more networking, Clubhouse is the perfect place for it.
• Whoever owns the capital is going to win the race.
• Be accessible.

Walking you through the deal

• Dave started a hard money lending company in January 2020.
• COVID hit, his investors backed out and he wasn't able to move forward.
• He started focusing on multi-unit commercial real estate and launched the company Freedom Venture Investments.
• Uses a private equity fund and side car deals to fund deals.
• Dave has two properties under contract with 81 units total.
• The Florida hurricane code work has already been done.
• The purchase price is $6,325,000 with $3,000,000 cash to close.
• Freedom Venture Investments is funding 10% of the 3 million.
• With construction, the total cost will be about $7,000,000.
• He is expecting a 10% return in year 1 and a 12.2% return by year 3,
• The internal rate of return (IRR) is expected to be 31.2% with a 1.8 multiplier

Licenses for these types of deals

• You must be securities and exchange commission compliant.
• You need regulation 506C Approval.
• His partner, Walter, is a licensed contractor.

How are you finding the deals?

• Financial institutions have properties in their portfolio with financial distress and they contact Walter.
• Pocket listings – When people just want to get rid of the property, they contact a commercial realtor, who then calls Walter.

Key indicators of a property being mismanaged

• If a property's expense ratio is larger than 40%, then means there's something wrong.
• Deferred Maintenance – Does the place look good when you drive by it?

Difference between an A class and B class neighborhood

• If a property was built between 1990 and 2005, it's a B class asset.
• If a property's surroundings are substandard, it could make it a B class asset.
• If a property's surroundings are superior, it would make it an A class asset.
• Class A assets have a cap rate of around 4-4.5.

Contact

• Phone: 781-922-4418
• Website: Freedomventure.com
• Email: [email protected]
• Radio Show: Real Estate Revealed 104.9 FM North Shore Radio
• Instagram: @daveseymour343
• Twitter: @daveseymour343

Lease option assignments

• This is where you match a seller to a buyer that has the option to buy the house at a later date.
• John markets to houses that are for sale by owner, for rent by owner, and on the MLS for over 60 days.
• The ideal house to market is one that is ready for move in.
• He offers 12-month lease option contracts.
• This strategy can be done in both appreciating and depreciating markets.
• John's average profit per deal is around $12,000.
• When looking for buyers, he puts himself into a lender's shoes to see if they qualify for this kind of deal.
• Having a buyers list isn't important because buyers are constantly changing.
• Lease option assignments is another way to invest in real estate and to get your foot in the door without having a lot of money and credit.
• With this kind of deal, you are helping a seller who can't sell the house the traditional way and you're helping a buyer get into the house that they can't afford in that moment in time.

Advice

• Ideally you want to learn with no risk.
• Wholesaling has a lot of competition; however, lease options are easier to get into.
• Lease options are a good way to find a house for yourself as well.

Contact

• Leaseoptionclasses.com
• Email: [email protected]

Book

• Real Estate Rock Stars: Real Estate Leaders Rocking The Real Estate Industry Today

Go to DealMachine.app.link/warrior to get your special offer for the Deal Machine app!

Advice on how to be successful as an entrepreneur

• Have a growth mindset.
• Look at everything that happens in life as an opportunity.
• You don't have to invest full time to be successful.
• Get intentional with your plan and vision of where you want to go and how you're going to get there.
• You control your schedule so prioritize your goals.
• Have something that's bigger than yourself to drive you.
• Failures are great as long as you learn from them.
• When faced with challenges, ask yourself three questions:
• • What's great about this? What can we learn from this? What does this make possible?

Talent Development Think Tank

• A membership community for entrepreneurs
• Has big name guest speakers talk to the members

Own your career, Own your life

Companion Journal

Contact

• Website: andystorch.com
• LinkedIn: Andy Storch
• Podcast: Own Your Career Own Your Life
• Instagram: @andy_storch
• Twitter: @andystorch

Go to DealMachine.app.link/warrior to get your special offer for the Deal Machine app!

Central themes:

• The riches are in the niches
• Your paycheck is in direct proportion to the value that you provide
• Deals and dollars is our business

Pick a niche and stand out from your competition

• Seniors are a niche
• Seniors and their family need a lot of education
• Your offer doesn't need to be higher than the other offers if you can build trust with the sellers

2 Steps to building credibility

• Pick a niche and really learn about and give true knowledge, education and value
• Build through your marketing

Max's Story:

• Max was asked by a seller if he had a book and suggested that he write one on senior housing
• His 1st book is called Home to Home: teaches seniors all about housing. Wrote a full chapter for adult children
• Started passing out book as a business card
• Figured out ways to distribute the book
• Attaches his book to other types of marketing hes doing which increased his direct mail marketing ROI
• People will call his office and they will tell them: "If your not ready to sell your house, we have a book for $12.99 but we will give you the book for free"

The benefits of writing a book:

• You can write a book on any niche.
• People perceive authors are serious about their business and are knowledgeable
• Biggest benefit of having a book: "Have you gotten a copy of our book yet?" They know they are talking to someone different .
• Sends them a copy of the book before the seller comes over to the house
• Gave Max's team a reason to call the seller to follow up.
• Less competition: others made that push at first and the follow up wasn't there
• Book gets passed around and has been an amazing too that sells me to other people

How to write a book:

• 2 categories
• • DIY: be part of all aspects of project. It took Max over 200 hours to write his first book
  • ROI: time is money. Only want to be closing deals. Can plug into licensesdcontent
  • • Book already written but can create a custom book for them

Max has a Real Estate Investor Book Writing Checklist

Income Stream or Give book for free?

• Can generate sales from book but royalties are so small compared to other benefits of positions himself with prospects and giving away for free
• Share and attract: By sharing what you know, you will attract the right people to you

• With contact information we give out a lot of copies of the book

Being an expert:

1. Knowing more than your prospect
2. Putting yourself out there to be found

If your new and you have never done a deal before or raised private money

1. Go to dealschasingyou.com/warrior for book writing checklist
2. Put together a credibility kit
3. Talk about when things go wrong with private lenders or other options with sellers
4. Find out what sellers need more help of & create something to help them

Join Max's Facebook page Deals Chasing You & Follow him on IG and FB @ MaxKeller

Go to DealMachine.app.link/warrior to get your special offer for the Deal Machine app!