The 6 Documents you should have prior to closing a subject-to transaction

1. Copy of the note
2. Current Mortgage statement or reinstatement letter
3. Copy of the Hazard Insurance
4. Authorization to release form
5. Limited Power of Attorney
6. A subject-to disclosure form

There are 4 types of landlords. Decide which one you want to be

1. Accidental
2. Burnt out
3. Professional
4. Newbie

Books every real estate investor should read:

1. Think and Grow Rich by Napolean Hill
2. Rich Dad Poor Dad by Robert Kyosaki
3. The Road Less Stupid by Keith Cunningham

Keith Cunningham formula:

1. Find out what they want
2. Go and Get it
3. Give it to them

The three things a lender will look at if you are qualifying for a loan. These three things do NOT play a factor in subject-to transactions!

1. Debt to income
2. LTV
3. Residual income

If your interested in acquiring real estate, here is 3 pieces of advice:

1. Have 6 months of living expenses
2. Get into a real estate career
3. Find a coach or a mentor

Before acquiring properties for long term hold as yourself these three questions:

1. What is the ROI
2. What are my long term goals?
3. Does the property Im going to purchase assist in reaching these goals?

Follow Mike Atkinson on his FB page or go to MJArealconsulting.com and sign up for his free class 5 ways to buy properties not on the MLS

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Journey with Text Message Marketing

• Ricardo started out doing direct mail marketing out of his own garage.
• After they acquired an office, he hired people to cold call, but found out it wasn't for him.
• He had a friend build him a skip tracing platform with less limits than those that are currently on the market.
• With this platform, he was able to move from cold calling to texting.
• Ricardo formed a group on Facebook to teach others about the way he does business and almost every person who interacted with the group wanted to use the skip tracing platform.
• The person who made the platform wanted around $100,000 to expand the software, so Ricardo split the cost with everyone who wanted access.

Advice

• You can let adversity defeat you or you can defeat it.
• Find people to work with that can do things that you can't.
• You have to trust people and delegate.

Contact

• Podcast: The Real Estate Entrepreneur
• YouTube: Ricardo Rosales
• Facebook Group: More Deals Than the Gurus
• Website: RicardoRosales.com

Contest

• One person will get access to 500 skip trace leads from the platform that Ricardo uses.
• To Enter
• • Join the Investor Warrior Facebook Group.
  • Invite as many people as you can to the group.
• The winner will be the person that invites the most people to the group.

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Transactional funding

Person A – seller

Person B – Wholesaler

Person C – end buyer

• Before regulation - Person C's money is in escrow to fund the purchase, Person B received the difference between the selling price and the buying price
• Now - Person B would bring the funds to put the house under contract, then Person B gets refunded when the house is sold from Person A to Person C.

Ascend

• Mastermind and coaching program
• Take high-level entrepreneurs and investors and do free masterminds once a year, with coaching in between.

Takeaway

• Ask people for advice
• Have key employees that help you when you're not around
• Have accountability
• Go directly to what it is you want
• Find someone that is exactly where you want to be and find a way to learn from that person

Contact

• Ascendyoursuccess.com
• Facebook: Facebook.com/stevecavanaughREI

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Tithing

• Give money away, even if you don't have a lot.
• When you're giving money out, don't have any expectations.
• How does tithing apply to real estate?
• • Give a portion of your profits to charity and let the sellers know. They might be more enticed to work with you.
• The most successful real estate investors are the ones who know how to have conversations with sellers, regardless of the seller's background.

Conversation Skills

• When talking to someone else, listen to them and don't think about yourself.
• Try not focusing on how perfect you come across as.
• To limit distraction in a conversation, after they're done talking, say "what I heard you say was…"
• When you get rejected by a seller, find out why and see if you can find a way to move forward.
• Repeat, reaffirm, respond

Advice

• Label yourself in a positive light and step into that persona
• Accept the way you are and accept the way you aren't.
• Be a problem solver

1ConversationAway.com

• Thursdays at 1PM Polish Pete hosts a session for free to have a conversation with you to possibly help you change your life.

Contact

• Facebook: Coach Polish Peter
• Instagram: PolishPeterOfficial
• Mastersunite.com

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

Walking you through the deal

• Andrew inspected a house.
• Found out that he did an inspection for a wholesaler and started working with him to buy the house.
• It was wholesaled as a subject 2 for $54,000 as a combination of seller financing and owner financing
• Got a limited power of attorney
• The only cash in the deal was the wholesaler fee of $10,000, the paint, and new flooring
• There are 10 years left on the underlying mortgage
• Andrea and Andrew's exit Strategy is to hold onto the property while the value rises
• They collect rent through property manager

Advice for Subject 2 Transactions

• Get a power of attorney before closing
• Get a statement from the mortgage company to see what is included in the existing mortgage
• Maintain a good relationship with everyone involved

Why to do Subject 2 Transactions

• You don't take out a loan in your name
• Doesn't factor into your debt to income ratio
• Doesn't affect your credit
• Less expensive
• You have a large amount of equity on the property from the start

AVOS

• AVOS is a volunteer-based drive through food pantry.
• People drive through, sign in, and get a box full of food in their trunk.
• They not only help people in the drive through, but they also help people who can't leave the house especially during COVID.
• Andrea's vision is to have first time home buyer classes, job training classes, and job fairs.
• How to donate
• • Go to AVOShelps.org and click "Donate" in the top right corner of the screen

Contact

Avoshelps.org

If you donate to Avos, make sure you say that you're an Investor Warrior and I will match your donation!

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How collateral works with seller financing

Every loan has collateral. In real estate, it's typically the house that's getting financed. Seller financing also has to have a form of collateral. Collateral doesn't have to stay the same throughout the loan

How to make a deal more personalized

You have to get to know the person before you structure the deal. Don't make the conversation about you and what you want. Solve a problem that they're having. Make the marketing personalized. Match the type of marketing to the type of conversation dynamic you want to have

Capital gains deferral

1031 exchange is Exchanging one investment property for another. Installment sale is when they receive their capital gains on a schedule, not all at once

What kind of people Jeff markets to

Jeffs avatar is Older generation & Landlords, Absentee owners, Specific area, Owned property enough time to create equity

Free PDF

The Step-By-Step Guide to Buying Your First or Next Rental Property found at Rentalwealthguide.com

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Real estate terms

• Wholesaling – selling a contract to a rehabber or builder
• Lease options – leasing a house to a tenant with the option to purchase
• Wholesaling lease options – selling a contract on lease option terms and sell to a retail buyer

Wholesaling Lease Options

• Negotiate the terms of the agreement and go under contract
• Assign the contract to someone that is looking to buy on a lease option
• Helps people that are having trouble and people that don't want to get in to a mortgage
• You do not have to be a real estate agent
• No real estate commission

Types of sellers to look for

• Sellers whose listings have expired
• Listings that are for sale by owner

Finding tenant buyers

• Advertise on Craigslist, personal Facebook Page, Facebook Marketplace, realtors, and other investors.
• Follow FHA guidelines to make sure that potential tenants have the required income

Process of wholesaling lease options

• Once a listing comes in, Sharyn sends an email blast out to potential tenant buyers
• She then sets up a showing
• Potential tenant buyers fill out an application
• Sharyn then forwards the application to her mortgage broker who will pull a credit report to mortgage qualify the potential tenant buyers
• She then proceeds with credit/financial counselling with the tenant buyer to make sure they have a way to eventually buy the house
• Then, everyone signs a contract so the tenant buyer can move in to the house

Contact

• Email: [email protected]
• Facebook: www.facebook.com/SharynBuysHouses
• Website: www.SharynBuysHouses.com

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Terms

• Joint tenants with rights of survivorship deed – an easy way to transfer properties once someone dies.
• Cash for Keys – when you pay a squatter a fee so that the squatters will move out of a house.

Walking you through the deal

• Alex found the lead by driving for dollars in Tampa Heights.
• He noticed this house because there was a tarp on the roof with squatters in the house.
• He did extensive research of public records to find the owner of the house using truthfinder.com.
• He got in contact with the owner's nephew, who was in contact with the owner.
• The owner thought he had 6 figures worth of liens on the house; however, it had been released.
• Alex sent the nephew the title search and the release of lien.
• Alex sent a HUD statement with the proceeds to the owner of the property.
• Alex agreed to pay the left-over tax liens after negotiating the amount down.
• The seller eventually called Alex to go through with the deal.
• A third party had paid the property taxes on the house, so at closing Alex had to pay the third party back.
• Because the squatters were related to the third party, they left after the agreement to pay back the taxes was made.
• Alex wholesaled the house and double closed on the deal.

Advice

• Persistence is key.
• Form a relationship with a title agent.
• Go with your gut feeling.
• When doing cash for keys, typically you want to physically go to the property with someone you trust and have them record you handing the cash to the squatters, the squatters giving the keys to you, and the squatters signing a contract that will not allow them back on the property.
• For wholesalers, find a few really good end buyers and sell to them consistently.
• Have a good relationship with local inspectors and have their cell phone numbers.
• Treat people like humans, not like the houses that you're buying from them.

Contact

• Instagram: @AlexJandickOfficial
• Facebook: Alex Jandick

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What you will learn

• General real estate terms
• If being in a partnership is right for you and tips to manage them
• How to find happiness through your work
• Basics on how to wholesale and how to generate more leads through letsgooffer.com

About Tag Thompson

• In real estate for 10 years
• Wholesaling for 3 years
• Founder of letsgooffer.com

Homestead Exemption

• Homestead exemption – if you live in a house for 2 years or more, you don't have to pay capital gains taxes on the profit that you make when you sell the house
• This exemption is in place to make sure that investors have to pay taxes on gains that they make on properties.

How to protect yourself in partnerships

• Tag suggests avoiding them at all costs because they're hard to manage
• Only enter into partnerships if you can not run your business without them.
• If you need a partnership, have an expiration date for your protection
• As an alternative to partnerships, have an agreement with people to help you along the way

Personal Development

• Happiness does not come from achieving your goals, it comes from the journey that got you to your goals.
• Growth only comes through pain
• Tag had to push himself to uncomfortable places to break the pattern of constantly being codependent on someone
• His fulfillment came from helping others achieve their goals
• If he has an opportunity to get in to a specific business, but it doesn't align with the things that make him happy, he won't do it
• Real estate assignments allow him to feel that happiness

Letsgooffer.com

• Tag started with a spreadsheet that pulled information from different sources and did calculations and would then spit out a range.
• He wanted his whole staff to be able to use this spreadsheet, so he found a way to turn it in to a webpage, then decided to turn it in to a product for everyone to use.
• On this webpage, you type in the address of the property you're looking at, put in the condition you think the property is in, and hit go. It'll then spit out a range of what the property may be worth
• This website allows people to process more leads because it requires less research
• Prevents analysis paralysis
• 7 day free trial link

How to get over fear of presenting offers

• Give offers to people, regardless if you think it's a bad offer or not.
• You win by getting someone to say yes, and to do that you need to put in more offers.
• Have a conversation with sellers to find the property value without actually giving them your offer
• Start low but don't lowball
• Walk them through the contract before giving them the offer to build rapport

Contact

Facebook: facebook.com/tag.thompson

To Sign up for your 7 day free trial of Lets Go Offer go to: letsgooffer.com/warrior

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Title companies

• They help you get a clear title on a property
• If you're interested in wholesaling, use a title company that is knowledgeable about it.
• If you are new to real estate investing, use "investor friendly" title companies.

No marketing leads

• Create authority and people will come to you for leads
• Post on social media and ask for referrals in your local market

How to create authority

• Start meetups
• Be a guest on other's podcasts
• Write a book

Why Brian created REI Live

• Creates wholesale deals by assembling meetups
• Produces coaching clients
• Uses Youtube to create videos to educate people in the real estate community.

Things to remember to build a quality meetup

• You're not selling anything, you're providing value
• Don't charge anyone to come to your meetup
• Give them quality information
• Don't bring in selling speakers
• Inform people of the things that can help them run their business, but don't pressure them into buying it

How to network

• Offer your talent to bigger fish for free
• Bring value to the table
• Figure out your crowd
• Collaboration over competition

Brian's BOOK: "Nothing's for sale" on Amazon

Instagram: @brianjtrippe

Facebook: facebook.com/briantrippe

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