Michael Quarles covers which contracts you shouldn't use, as well as contracts that are best to use, and more…

• How would you proceed with getting a BPO, inspection, and appraisal with a tenant currently occupying the property?
• Does the CMA come before or after getting the contract signed?
• Can checking your 7 data sets be a substitute for a CMA?
• Would you recommend a sandwich lease for newbies?
• If I am going to do a concurrent close and I have my own cash buyer. What contract can I use for the cash buyer?

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Michael Quarles covers finding value and determining the maximum offer, and more…

• What do we have to do when determining the Value?
• Do we have to look at Comparable Sales?
• What characteristics do we want to compare our Property to?
• What does the other Property have to have?
• When I look at my Comparables I want three active, and 3 solds!
• What types of questions should I ask sellers who have recently bought a Comparable house?
• Is there a difference between AS-IS and ARV?
• Can an ARV be AS-IS?

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Michael and James discuss the many benefits the Coaching Program can have for your Real Estate Business!

• Don't miss out on this AMAZING DISCOUNT!!
• What exactly does the Coaching Program have to offer?
• What are the perks of having an accountability coach?
• Will the Coaching Program benefit you?
• We discuss our CRM!
• What is the best way to figure out where  you should be marketing to!

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Michael Quarles covers how you can attract buyers to your properties, and more…

• When we list a property on the MLS, how should the description read LLC, or investment property? How do we get the buyers attention to the property?
• I am having a bit of a challenge with cold calling. Do you have a website or other resource for finding a list of phone numbers within a zip code? I tried several pages including white pages which won't let me filter by zip and forces me to check every single prefix for the zip code it covers. There are over 1000 Pre-fixes.
• A cash buyer is best, but do you avoid selling whole tail flips to buyers using F.H.A loans?
• What do you think about purchasing short sell properties in today's market?
• I have a family friend who unofficially inherited a house after his brother died. They are told it needs to go through probate to get the deed transferred to his name with all the other siblings signing approval. He has already gotten verbal approval that he will get the house.Unfortunately he does not have the money to complete the probate process. Would you pay$700 to complete the process through your attorney if he has given you a verbal agreement to sell you the house once the deed is in his name? And you trust him.

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Michael Quarles covers whether or not sellers are motivated if they don't respond to your follow up calls, and more…

• I received a call from a motivated seller regarding a local property but the seller is out of town. To view the property, the seller said her son who is local could help and that he would be in touch. I've run the numbers and this is a great deal but I haven't heard back from either the son or the out of town owner and I've followed up a couple times. Since many deals come from the follow up and this one will be a money maker, how much follow up can I make without becoming obnoxious but also knowing this is a deal I absolutely want to get under contract. Please advise.
• Since a large percentage of sellers aren't motivated and many deals come from the follow up, how can you determine which deals are follow up deals (continue to cluster market them as well as follow up call) and which ones do you refer to a realtors so determining this difference is important, Please advise.
• Can you help me word the following contract terms with a seller?  Seller needs $53,500 cash to purchase her new home. I only feel comfortable paying $47,500 for her current residence (70%of as is). I suggest that I could possibly loan her the additional $6000 with a promissory note, 24 month term at some percent interest to get her the $53K she needs. Would you recommend structuring it this way?
• What is the best way to get property profiles in an attorney state where attorney issues title insurance?
• Michael, will you ever give the seller an option to choose from one of the multiple offers eg. 65% cash offer, subject to- take over existing payments with little to no extra $.

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Episode Summary

Michael Quarles interviews MC Laubscher on his Real Estate adventure from coming to the United States with only $500 to his name along with his backpack of belongings, to becoming the Founder and President of Valhalla Wealth Financial! The game of Rugby is what first brought him to the United States. Who knew his passion for the game would turn his life around to become a renowned Wealth Instructor, Educator, and Financial Freedom Fighter. One of the ways MC tries to help others is by hosting his own Investing Podcast, Cashflow Ninja. His mission is to help as many people as possible eliminate the control banks and financial institutions have over their lives by building their wealth in a variety of ways outside of Wall Street. He believes the best way to achieve this in the Information, is by reclaiming the banking function in your own financial life through structuring an efficient cash flow management system and creating and building assets that provide multiple streams of income. Listen to this One of a kind, and inspirational story!

Covered in This Episode

• 00:34 – So tell us about yourself?
• 04:00 – What was it like coming to the United States with just a backpack and $500?
• 05:40 – What was is about the book "Rich Dad, Poor Dad" that made you open the book and read it?
• 07:42 – Let's dive into your Wealth Firm!
• 11:30 – The most important and greatest investment was himself!
• 12:30 – MC goes over one of his favorite strategies to use which is "infinite banking concept!"
• 17:00 – Let's discuss an accumulation mind set?
• 18:15 – MC talks about what is happening in our new economy.
• 20:50 – MC discusses the idea of Retirement!
• 23:04 – So how does a person ask you for help?
• 25:26 – How do you take a person and teach them what they don't know?
• 26:58 – Why do I need to learn this?
• 28:37 – What didn't I ask that you want to additionally share?

 

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Links Mentioned

Valhalla Wealth Cashflow Ninja

Reach out to MC

MC Laubscher

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Michael Quarles covers his first Investment story and what he did to become a successful Real Estate Investor, and more…

 

Covered in This Episode

• Michael's achievements in Real Estate!
• Where do you live?
• How you got started investing at such a young age?
• What was your motivation to go out and buy as a young age?
• Talk to me about the numbers on your first deal?
• Talk to me more about how you can always win and always fail?
• what are some advice you can give people who are worried about failing in real estate?
• What is some life advice you can give to people?
• Talk to me about how your mind set has transitioned to help others and pay it forward?
• How have you evolved your multiple businesses?
• What sort of system are you implementing in your business?
• Talk to me about the type of investing strategy and how it has changed since you were 18 years old?
• What markets are you investing in right now?
• What does the future hold for yourself and michaelquarles.com?
• What advice can you give to the listeners about how they can start taking action?
• Are you working with any International Investors right now?
• What is your daily habit that helps you stay on track?
• Who's the most influential person in your career today?
• What is your most influential tool you use in your business today?
• What is the biggest value that has shaped your success today?
• Where can people reach you?

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Michael Quarles covers what you need to do in order to start your Wholetailing business, and more…

• Michael, will you ever give the seller an option to choose from one of the multiple offers eg. 65% cash offer, subject to- take over existing payments with little to no extra $?
• As far as business entities, Insurance, paperwork, phones. What is the bare minimum I need to get started wholesaling or whole tailing? I know you suggest going to get a DBA. When you go to meet with the seller and actually sign contracts do you use your business name or your personal name? I have one rental and plan on adding more next year but I assume that I will start a LLC when I get more rentals?
• There's a lot of talk about having a physical address when you register a business name and need a mailing address. The thing I don't hear much about is having a registered agent. In Indiana a registered agent only costs $49 a year and will forward all my mail to me. It seems like that will work in place of using a P.O. BOX or UPS store address.
• When marketing is it better to do a cluster campaign in one or two nearby zip codes or spread marketing dollars  over a wide geography? Does it matter?
• When using the two part seller script and the potential seller says the property is worth $200K, but you can see on Zillow that its worth only $180K do you start the 85% negotiation from $200K or $180K.

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Michael Quarles covers whether or not you should question sellers if they won't show you their house…

I'm looking at a property which is worth $250-280 fixed up. I estimate it needs about $100k of work to get it in tip top shape (the seller won't let me see the house, so I am not 100% sure on the rehab costs. I did the math and worked out an offer of $80k. The seller wants $180k for the house, but I also know that he still owes $125k on the mortgage. Is it worth it to make an offer that is below what he still owes? Should I just make an offer above what he still owes, see the house, and then see if I can make the deal work at that price?

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Podcast 304 – How to Properly Structure an Owner Carry Deal? By Michael Quarles|December 1st, 2016||0 Comments Michael Quarles covers whether or not you should structure an Owner Carry Deal, and more…

A seller contacted me about a lot he might want to sell in Portland, Oregon. This is an 11,000 sf lot zoned 1A for 7-11 units only.He owns it free and clear. He is open to a straight purchase, or an owner carry, or even a joint venture with a developer to develop the lot.It currently has a small shop on the property that he rents out for ~250 month to cover taxes.The lot value is $175k-$250k (Property Radar is at $233k). He stated he would sell for $150k but I believe he would sell for even less.He bought this in '07 for $213k and is just tired of it.I would like to get this under contract and then assign it. I am leaning toward the owner carry. Michael,how would you structure an Owner Carry?What terms?Any thoughts about how to incorporate a potential JV carrot in there if needed to close the deal?  Any other idea's I am missing?He is very open to creative options I think.How would you market this?

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