The Transactional Real Estate Investor Show with Blair Halver

Hear about different exit strategies you can use for just one deal. More and more opportunities are popping up in this economic crisis. As transactional engineers, be prepared so you can recognize which is the exit strategy that creates large equity or monthly cash flow!

In this episode, learn all about exit strategies; how to exit deals with the profit, about the importance of transfer disclosure statements, doing inspections upfront, and how to recognize a risky deal. Discover how to calculate MAO, when to list properties with realtors, and the difference between assigning contracts and double closing. They discuss how to approach a seller whose country store and two apartment addresses can't be found.

Finally, gain skills on employee status versus contractor status when paying VAs or acquisitionists by the hour. Learn how to find leads.

Mentioned Resources:

• Zillow
• Propstream
• Rentometer
• Mojo

In this episode we covered:

• 00:00:00 – About a risky cash deal and how to calculate the MAO
• 00:03:10 – About employee status versus contractor status when paying VAs or acquisitionists by the hour
• 00:04:41 – Market update
• 00:07:34 – Process in regards to inspections when marketing for lease-purchase buyers and the importance of transfer disclosure statements and doing inspection upfront
• 00:17:35 – About a seller asking $350K for a nice house in Decatur, Georgia, wanting $50K to move and about listing the property with a realtor
• 00:19:55 – How to approach a seller whose country store and two apartment addresses can't be found
• 00:23:17 – Using an amortization schedule for an owner-financed deal and how to get it reported to the credit bureau
• 00:26:35 – How to exit a cash deal in which seller wants $20k cash for a house in Kentucky that needs a lot of repairs and ARV is $160 and about assigning contract versus double closing and seller disclosure
• 00:39:11 – How to approach a seller whose family is concerned about staying on the deed with your LLC; about undivided interest in properties, wills and bank's rights
• 00:43:50 – How to approach buyers who have a low monthly income; concerned as to whether they are going to be able to afford paying monthly payments
• 00:47:40 – Best way to find leads
• 00:50:09 – How to approach a deal involving two houses on one property
• 00:54:05 – Four or five solid exit strategies for a deal involving two houses on one property and best way to find rental comps
• 00:59:20 – About a client's feedback on credit reports
• 01:01:00 – What is needed to figure out if a deal is decent or not
• 01:04:05 – About states reopening after lockdown, commercial real estate, and businesses for sale
• 01:06:11 – Wrap-up

About Blair:

Blair is the founder and creator of Dealbot, a motivated seller lead generation company. He has managed nearly $2mm in marketing spend and generated over 100,000 motivated seller leads. He also buys and sells houses himself in the Winston-Salem and Charlotte, NC markets. In the past year, he has acquired nearly $3mm in cash flowing rental properties with zero money out of his pocket.

Multimedia:

• Youtube
• Apple Podcasts
• Google Play
• Facebook

Thank you for listening!

Today more than ever is an excellent opportunity for transactional engineers to buy subject-to. There are many exit strategies to work your deals, but today's focus is on fixing and selling. Buy a house for as little as possible, make small fixes, and then sell. These could be starter homes, which are experiencing high demand. These deals don't demand much work, and the houses sell quickly!

In this episode, hear about three deals Blair and Jeff are working on with different exit strategies. Learn how to buy subject-to, fix and flip, and how to get an $80K payday just for writing out a check to bring a loan current. Discover the difference between finding a buyer for a house versus finding a house for a buyer.

Finally, hear how wholesaling works in Illinois, how to deal with wrecked houses that have been rejected for short sales, how to deal with eviction processes and LLCs in Iowa, and the importance of having rental comps when doing terms.

Mentioned Resources:

● Rentome

● Craigslist

● Zillow

● Propstream

● Mojo

In this episode we covered:

• 00:00:00 – Start-up and market update
• 00:04:36 – How to structure a deal in which a seller has their three-bedroom house listed with an agent for $119k, getting $2k a month, will take $110 and doesn't want terms
• 00:10:25 – About wholesaling in Illinois
• 00:11:16 – How to approach a deal in which seller is selling their house in Texas for $50K, there is nothing owed, seller is willing to do terms, and it is difficult to find rental comps
• 00:14:24 – Whether there is a deal for a small, wrecked house that has been rejected for a short sale, owes $40k deed in lieu, a balloon of $12K in 2036, ARV $82 and $285 payments
• 00:22:54 – About a wholesale deal and consequences from drawing a line in the sand with deals are under $40K
• 00:26:34 – Process when buying a property that has been bought on terms with a private lender, about the eviction process and LLCs in Iowa
• 00:31:27 – How to set up a land trust
• 00:32:13 – Finding a buyer for a house versus finding a house for a buyer and about screening buyers
• 00:35:08 – Filling out the standard purchase and sales agreement for an owner-finance deal to do a wholesale
• 00:36:32 – Meaning of "homeowner's taxes and insurance being in escrow" and about taking over HELOC
• 00:41:42 – How to approach a lawyer about what documents are needed to close a bread-and-butter deal
• 00:44:12 – Blair and Jeff's business update; about deals they are working on with instructional ways to "skin a cat
• 00:45:18 – Lead 1 – How to buy subject-to and get a tenant to buy the house from us at $120K
• 00:48:15 – Lead 2 – How to buy subject-to, then fix and flip
• 00:52:00 – Lead 3 - About a client-partner deal; a terms deal with a lease option tenant-buyer coming in for $12k down and a $400 a month cash flow
• 00:55:00 – About contract at close ratio
• 00:57:46 – How to fill a contract of a deal in which seller that has a $50K lien
• 00:58:30 – Advice for whoever comes across a deal and has to write a check for $11 grand for back payments and $10 grand for rehab in order to make $30/80K dollars but can't afford to do so
• 01:00:40 – Wrap-up

About Blair:

Blair is the founder and creator of Dealbot, a motivated seller lead generation company. He has managed nearly $2mm in marketing spend and generated over 100,000 motivated seller leads. He also buys and sells houses himself in the Winston-Salem and Charlotte, NC markets. In the past year, he has acquired nearly $3mm in cash flowing rental properties with zero money out of his pocket.

Multimedia:

• Youtube
• Apple Podcasts
• Google Play
• Facebook

Thank you for listening!

The real estate business has great opportunities. As transactional engineers, you have all the strategies needed to identify them and turn them into deals. The market is constantly changing because of the economic crisis. Several states are experiencing significant disturbances, such as violent protests. Buyers in some areas will be difficult to get. In questionable areas, line up your buyers before closing on a deal to avoid taking risks.

In this episode, hear about what is happening in the market, how it affects the real estate business, and a new exit strategy. Learn how to approach deals with no margins or properties in questionable areas, how to deal with homes in trailer parks, and how to deal with fire damaged or gutted cheap properties. Discover what to do with houses that have residents who smoked, how to work out a subject-to with a carry-back on the purchase and sale agreement, and how to structure a deal as a sandwich lease purchase or as a subject-to cashing the seller out in the short term.

Finally, hear how to delegate a marketing campaign to acquisitionists, how to deal with a big difference between comps, and what resources can be used to collect payments.

Mentioned Resources:

• Housing Wire
• Wall Street Journal
• SFGate
• Ron LeGrand
• Zillow
• FSBO
• Cozy
• QuickBooks
• Propstream
• Mojo
• Screen The Tenant

In this episode we covered:

• 00:00:00 – Start-up; market update, resources to find news and another exit strategy for transactional engineers
• 00:11:54 – About a deal under contract in an oil field town in Texas involving a manufactured home in a trailer park; whether wholesaling is an option if seller is asking for $62K and ARV is $198K
• 00:15:59 – About information needed to do trailer and trailer park search
• 00:18:29 – How to approach lease options in regards to low margins and questionable areas
• 00:28:35 – How to delegate a marketing campaign to acquisitionists
• 00:32:36 – About a client wanting other opinions on PIN – connected investors to run comps
• 00:34:35 – How to approach a seller in a deal that has a low rental margin before putting under contract as a lease option
• 00:39:32 – About Cozy and Quickbooks to collect payments
• 00:40:55 – How to deal with fire-damaged or gutted cheap properties
• 00:43:43 – How to find a buyer for a smoke-damaged house
• 00:46:04 – How to approach a seller selling two building units on a joint loan for $75K and about remote property management for rentals
• 00:48:59 – How to get paperwork set up for a subject-to deal
• 00:51:14 – About lines that don't line up with the script and can be rearranged when training a VA
• 00:53:54 – How to deal with situations when looking for comps and finding a big difference between those done six months ago
• 00:56:50 – How to approach a seller that wants something out of the deal after having agreed to take over with terms and brought current to save their credit
• 01:01:40 –Who do buyers send their check to for the first month's rent after deal meeting and how is it done virtually
• 01:03:16 – What form should be used when structuring a deal as a sandwich lease purchase in which sellers agrees to be cashed out in the short term, and how to structure the deal according to Ron LeGrand and as a subject-to
• 01:12:20 – How to handle a situation in which Propstream says tax assessment is $25K but the seller says it's $68k and comps have dropped from $200K to $19K for a house in Kentucky that gets water in the basement
• 01:17:58 – How to handle and structure a deal in which Cherokee Nation dismisses loan for a ramp and shower as long as the seller stays in the property for three years
• 01:25:19 – Whether a prospect could be a deal or not; how to approach a seller when it is very difficult to find somebody who would want to put $26K cash into a deal that has no equity and how to work it out as a short sale
• 01:33:31 – Best way and utility through which to hold title to investment real estate properties and about legal protection
• 01:37:37 – How to find out who owns a property
• 01:40:42 – How to work out a subject-to with a carry-back as on the purchase and sale agreement
• 01:43:12 – Wrap-up

About Blair:

Blair is the founder and creator of Dealbot, a motivated seller lead generation company. He has managed nearly $2mm in marketing spend and generated over 100,000 motivated seller leads. He also buys and sells houses himself in the Winston-Salem and Charlotte, NC markets. In the past year, he has acquired nearly $3mm in cash flowing rental properties with zero money out of his pocket.

Multimedia:

• Youtube
• Apple Podcasts
• Google Play
• Facebook

Thank you for listening!

If you are in the real estate business, you are in it to make money. In today's economic crisis, there are many opportunities to cash in. Go look for the cheap homes, buy, and then rent. A long-term rental means you will make money on the monthly spread and have it growing your bank account over time!

In this episode, learn how to handle loans when there is already a mortgage, how to approach deals with subject-to involving expensive properties, and how this business works in rural areas. Discover the right time to negotiate the purchase price, how negotiation works in term deals and cash deals, and how to deal with a probate estate.

Hear how to deal with buyers seeing houses in remote deals and how to approach sellers in default where the deals have no equity but have an interesting monthly spread. We talk pre-foreclosure data and lists to call, plus ways to get hold of leads!

To listen to the full episode go to MoreDealsLessHustle.com

Mentioned Resources:

• Zillow
• Craigslist
• Propstream
• Mojo
• Screen The Tenant
• My +Plus Leads

In this episode we covered:

• 00:00:00 – Start-up and market update
• 00:02:50 – How to handle another loan on a house for solar panels; handle like a second mortgage deal?
• 00:04:12 – Whether to ignore Facebook's notifications inviting you to add people that like your ads to your page
• 00:05:00 – Apprentice and pipeline program goals and about a client having problems with getting buyers to see a house or even getting back to them for further conversations
• 00:15:28 – How to work out a deal in which the seller has a mortgage and discovered recently they have another loan
• 00:20:22 – Preparing paperwork; number of land trusts per property, trustee per trusts, beneficiaries and date
• 00:23:08 – How to figure out an exit strategy for a subject-to deal that has only $100 monthly spread and a house that needs a lot of work
• 00:25:20 – How to approach sellers willing to go to terms but concerned about not getting money to be able to move
• 00:27:24 – How to approach a situation in which seller's mortgage has been bought by a another company and doesn't know if it is free and clear
• 00:32:05 – How to do business with a seller that has no mortgage but has a lien held by the community redevelopment authority to do house repairs
• 00:34:29 – How to handle rural properties
• 00:36:12 – About setting up action plans, cold calling script, and FSBO opening call script
• 00:37:42 – About percentage of ARV when calculating MAO and calling profiles
• 00:39:15 – About what goes on at closing and in deal meeting; how and when is the right time to negotiate purchase price
• 00:40:58 – About negotiation in term deals and cash deals
• 00:42:40 – How to deal with a probate estate
• 00:43:42 – cont. 15:28; How to approach a seller wanting more than what they owe when they don't even know how much they owe for a recently discovered lien
• 00:51:51 – Whether withdrawn is a good section to call or not when integrating My +Plus Leads into Mojo and about expired lists and pre-foreclosure data
• 00:53:43 – How to approach deals with subject-to involving expensive properties
• 00:59:05 – How to approach a seller who has agreed verbally to terms and wants a written agreement
• 01:00:16 – When should mortgage missed payments be cashed out and by whom
• 01:01:11 – How to work a deal out in which a seller is selling their teardown property for $5K when the ARV is $109K
• 01:04:54 – How to approach buyers that keep asking how much they need to put down
• 01:06:32 – When should mortgage missed payments be dealt with and how to proceed if we want buyer to deal with them
• 01:09:45 – How to deal with buyers going to see the house in a remote deal
• 01:12:14 – How to approach a deal involving a nice property but doesn't work out due to junky neighbors
• 01:16:48 – How to approach sellers in default in which the deals have no equity but have an interesting monthly spread
• 01:24:33 – A recapitulation of the forbearance programs
• 01:27:28 – Wrap-up
• To listen to the full episode go to MoreDealsLessHustle.com

About Blair:

Blair is the founder and creator of Dealbot, a motivated seller lead generation company. He has managed nearly $2mm in marketing spend and generated over 100,000 motivated seller leads. He also buys and sells houses himself in the Winston-Salem and Charlotte, NC markets. In the past year, he has acquired nearly $3mm in cash flowing rental properties with zero money out of his pocket.

Multimedia:

• Youtube
• Apple Podcasts
• Google Play
• Facebook

Thank you for listening!

Transactional real estate engineers can start doing business as long as they get to talk to sellers. As soon as a lead comes in, get hold of the seller. The best way to do it is over the phone. If you let time go by or wait for them to answer a text message, they might not see it, change their mind, or even lose interest.

In this episode, Blair and Jeff share their wisdom on different real estate business topics. Learn how to get sellers on the phone. Discover how to estimate the purchase amount for a cash purchase, how to respond to buyers wanting to know what the process of rent-to-own is, and the process and document signatures needed when assigning the deed at closing. Find out what options you have for different deals and their best exit strategies.

Gain skills on merging a separate tracking lead document with Mojo so one automatically updates the other. Finally, find different main lead sources for your VA to work on, the meaning of HUD, and a hot deal involving a 3X per month rental property.

To listen to the full episode go to MoreDealsLessHustle.com

Mentioned Resources:

• Zillow
• Propstream
• Mojo
• Screen The Tenant
• Rentown
• CallRail
• FRBO
• FSBO
• Zbuyer

In this episode we covered:

• 00:00:00 – Start-up and market update
• 00:05:13 – Trying to figure out why seller has a mortgage for $172K, another for $50K, and a loan for only $118K
• 00:06:40 – Starting process to do title search when buying subject-to; whether title company orders payoff or we provide a mortgage statement for the assumption amount
• 00:09:36 – How to estimate the purchase amount for a cash purchase
• 00:11:13 – About a wholesale deal in Rector, Arkansas and negotiating the purchase price, taking into account the house needs some work done and doesn't have HVAC
• 00:17:30 – How to approach sellers who are not responding to calls and get them out of the house by using cash for keys
• 00:21:15 – 05:13 cont. Trying to figure out why seller has a mortgage for $172K, another for $50K and a loan for only $118K
• 00:29:15 – A client's good way to get sellers to respond quickly to calls and how to give access to team members to Propstream
• 00:31:35 – About a subject-to deal in which seller has been asked to complete new loan documents by their bank to fix a home equity line of credit
• 00:37:29 – How to respond to buyers wanting to know what the process of rent-to-own is and when is it okay to mention down payment assistance
• 00:39:36 – A way to merge separate tracking lead documents with Mojo so one automatically updates the other and about the importance of having them updated
• 00:42:29 – About Screen The Tenant, paper application fee, and hold in fee
• 00:45:18 – A client's successful way to advertise for the proper buyers
• 00:46:33 – Process and document signatures needed when assigning deed at closing in New Mexico
• 00:57:24 – About Screen The Tenant and the best way to run credit when buyers send application to validate what they are saying in their scores
• 01:00:57 – How to approach sellers concerned about the liabilities they hold if their house burns down and they have the loan in their name when doing a subject-to or a carryback and amount to consider when getting an insurance policy
• 01:05:45 – How to approach sellers when they ask how do we make money
• 01:06:20 – About HUD
• 01:08:48 – Whether having water and electricity cut off for six months is an issue or not in a deal in upper Midwest
• 01:12:17 – How to approach a seller asking for $175K and owes $152K, when comps are between $140K and $160K
• 01:06:10 – What is the standard purchase agreement doc used for?
• 01:16:35 – Problems with Facebook messenger video call saying seller wasn't available
• 01:18:28 – How to approach seller asking $50K for 6-bed 2-bath on 5100 square feet that is worth $200K
• 01:22:34 – Strategy to work out and exit a deal in which a seller owes $199K for a house that needs repairs and ARV is $230K
• 01:27:17 – What to do when we find a VA but are not quite sure yet and the main lead source for VA to work on
• 01:30:45 – Meaning of "request refund" in one of the steps for action plan in inbound seller leads
• 01:32:11 – How to get sellers on the phone
• 01:34:46 – How to approach a seller who is open to seller financing for two properties he owns, and one of them in need of a lot of work
• 01:41:30 – What happens if a seller doesn't pay the mortgage payments even after closing although he is obligated to pay
• 01:43:38 – About a 3X-per-month rental type property, possible exit strategies, and highest expected taxes
• 01:48:02 – Wrap-up

To listen to the full episode go to MoreDealsLessHustle.com

About Blair:

Blair is the founder and creator of Dealbot, a motivated seller lead generation company. He has managed nearly $2mm in marketing spend and generated over 100,000 motivated seller leads. He also buys and sells houses himself in the Winston-Salem and Charlotte, NC markets. In the past year, he has acquired nearly $3mm in cash flowing rental properties with zero money out of his pocket.

Multimedia:

• Youtube
• Apple Podcasts
• Google Play
• Facebook

Thank you for listening!

Transactional real estate engineers must never be conservative with their ARV. What is ARV? ARV stands for "after repaired value." It means the potential value of a property and not the value as-is. It is determined by referencing nearby comps in a similar condition that have recently sold. If your ARV is too conservative, you will lack a margin to make a profit.

In this episode, learn about ARVs, what we look at when doing comps, and how to find comps in the boonies. Discover how to approach a seller when they ask for 20% down for a $30k house that needs work or sellers asking way over market value. Gain skills to follow up with incoming leads. Learn when you should get the authorization of release information in a subject-to.

Listen to a client's bread-and-butter deal, and the attitude investors should have when talking to sellers about the first three mortgage payments.

Mentioned Resources:

• Zillow
• Propstream
• Realtor
• Real Estate ABC
• CallRail

In this episode we covered:

• 00:00:00 – Start-up and market update
• 00:03:32 – When to get the authorization of release information in a subject-to
• 00:04:36 – About a seller asking for $7000k down for a $30k house that needs work
• 00:13:01 – How to handle a deal with a big cash flow, nothing down, but seller is asking over market value
• 00:20:10 – What we are trying to find with the ARV, what we look at when doing comps, and reason for a high difference in comps
• 00:25:43 – How to approach a seller willing to do terms with a 20% down and when to start talking about terms with seller
• 00:29:46 – How to approach a seller that is willing to sell for what they owe, nothing down, and with a tenant in paying $600 rent when comps are $900 a month
• 00:33:51 – About a seller who owes $350 for a couple of acres; three plots are going to be sold separately from another plot that has a 4-bed 4-bath home, two apartments, a shop, and a pool on it. Asking $180 cash to buy a condo
• 00:37:15 – How to approach a motivated seller and go ahead with the deal when it is difficult to find out the property's address to know it's value
• 00:44:21 – Recommended application to use for sellers to call and call not go directly to private phone
• 00:44:55 – How to find comps in the boonies, what to do when it is difficult finding pictures, and how to approach a seller open to terms but numbers are high with a house that needs work and has tenants living in it
• 00:52:35 – Recommended process to follow up leads
• 00:53:26 – About a client's bread-and-butter deal and about the attitude one should have to approach sellers when talking about the first three mortgage payments
• 01:00:50 – Wrap-up

About Blair:

Blair is the founder and creator of Dealbot, a motivated seller lead generation company. He has managed nearly $2mm in marketing spend and generated over 100,000 motivated seller leads. He also buys and sells houses himself in the Winston-Salem and Charlotte, NC markets. In the past year, he has acquired nearly $3mm in cash flowing rental properties with zero money out of his pocket.

Multimedia:

• Youtube
• Apple Podcasts
• Google Play
• Facebook

Thank you for listening!

Real estate transactional engineers must keep their buyers in play. If one backs out, you already have another one lined up. Don't underestimate the ones with little money to put down. Sometimes they turn up with more if they are very interested in the house and know somebody before them made a better offer!

In this episode, learn how to talk to buyers to keep them lined up and in play, and how to reach out to unresponsive sellers avoiding your phone calls when buyers are ready. Discover how to comp and find marketing strategies for a unique property with a 1930s pier, post foundation house, and two other structures on it. We cover what happens to option fees when setting up lease options, things you must know about insurance when closing a deal, and how to avoid deals falling apart due to untruthful sellers.

Hear about land contracts, constructive ownerships, and what happens to title and appreciations when buying and then selling a house on a land contract. Learn how to set an action plan and manage spam leads on Mojo, track the conversion rate of leads into contracts, and the cost of some apps available to manage incoming Facebook leads.

Mentioned Resources:

• Mojo
• Zillow
• Zoom
• Ron LeGrand
• Zapier
• Leadsync
• Propstream

In this episode we covered:

• 00:00:00 – Start-up and market update
• 00:05:09 – How to market a wholesale deal under contract out of state; two houses on a property in which one of them has the seller's family member with a dangerous dog living in it
• 00:09:59 – Avoiding deals falling apart due to sellers lying after contract has been signed
• 00:17:55 – How to set an action plan on Mojo regarding inbound calls we can't get a hold of
• 00:21:21 – How to include remote US-based assistants in calls on Mojo when training them and about probationary period versus hiring
• 00:25:04 – About a client's two deals under contract
• 00:25:55 – Discussing a situation in which lots of people lined up to see a house but it is hard getting in touch with the seller
• 00:29:11 – About insurance when closing a deal
• 00:29:51 – About land contracts and how to approach people asking to do land contracts
• 00:31:25 – Ways to keep interested buyers in play and what to say to those who are offering little down
• 00:33:13 – Tactics for sellers that don't have insurance on their property and about who pays tax and insurance
• 00:34:42 – When a seller discovers they have a HUD lien on their property and what to do about it
• 00:37:15 – Whether to back up on a deal under contract involving a property in the countryside in a terrible condition
• 00:40:18 – What to do with so many leads coming in
• 00:41:29 – About a client willing to help another train their team members
• 00:43:19 – Exit strategies for a deal involving a plot of land bought at $400K
• 00:48:28 – What happens to option fees when setting up lease options, about the down payment assistance program and the paperwork
• 00:52:30 – Setting up pays to the existing mortgage when buying subject-to
• 00:53:32 – How to buy subject-to when there is a HELOC
• 00:55:08 – About spam leads and quality of leads versus quantity of leads
• 00:57:06 – Dealing with spam leads in Mojo and about the conversion rate of leads into contracts
• 01:00:40 – About what happens to title and appreciations when buying and then selling a house on a land contract and about constructive ownership
• 01:01:50 – Zapier versus Leadsync in regards to Facebook leads that come in, telling them where to go, reducing tasks, and costs
• 01:05:05 – About pier and post foundations and how to deal with them
• 01:08:52 – Different strategies to structure a deal involving a house 1450 sqft on .4 acres that needs work, has pier and post foundations, and a HELOC lien
• 01:15:51 – How to comp and find strategies for a unique property with a 1930s pier and post foundation house and two other structures on it
• 01:19:12 – Wrap-up

About Blair:

Blair is the founder and creator of Dealbot, a motivated seller lead generation company. He has managed nearly $2mm in marketing spend and generated over 100,000 motivated seller leads. He also buys and sells houses himself in the Winston-Salem and Charlotte, NC markets. In the past year, he has acquired nearly $3mm in cash flowing rental properties with zero money out of his pocket.

Multimedia:

• Youtube
• Apple Podcasts
• Google Play
• Facebook

Thank you for listening!

Real estate transactional engineers must always do calculations to see if a deal is worthwhile. Time and energy are precious, and you are in this business to make money. So, if a deal does demand too much effort and time, make sure it has big equity, a big cash flow, or both!

In this episode, hear about what is going on in the market and note all the housing opportunities now out there. Learn how to approach sellers asking too much for their house, sellers with individual loans, and sellers who haven't figured out their asking price but want to sell.

Discover how to deal with a filed bankruptcy and how bankruptcy court works in these scenarios. Find out about note buyers, private lenders, how to negotiate down payments, and dealing with mobile homes and their community restrictions. Gain skills to manage Facebook ads to get your business flowing.

To listen to the full episode go to MoreDealsLessHustle.com

Mentioned Resources:

• Propstream
• com
• Mojo
• Fundwise
• CreditSuite

In this episode we covered:

• 00:00:00 – Start-up and market update with good opportunities for the housing business
• 00:06:04 – How to approach a motivated seller when the tenant-buyer filed bankruptcy and there is trouble finding a new retail buyer who would retail a house worth $525K needing $50K work done.
• 00:16:07 – How to handle paperwork to terminate a contract when laying off a contactor
• 00:17:54 – Selecting four potential candidates to work in a team
• 00:19:51 – About a property from the 1900s in which the seller has an individual loan. How to figure out the purchase price for the property if wholesaling and paying monthly payments
• 00:25:44 – Is it a waste of time and energy handling with a deal involving a bankruptcy situation and two loans?
• 00:33:31 – About a client's first deal signed. How to approach realtors calling on a property and how to negotiate $10k money down needed for some repairs and working it up on the contract
• 00:37:57 – A client having problems with buyers leads not coming in from a Facebook campaign
• 00:39:28 – Approaching a seller asking for $65K for a clear and free house when ARV is $112 and house needs work
• 00:45:28 – Approaching a seller who doesn't have an asking price for two plots of land, one with a livable mobile home, that they want to sell as a whole package
• 00:48:46 – A seller is selling two properties that need to be torn down and is asking $3000 for each, but county assessor says they are worth $2500
• 00:52:05 – About creating notes and note buyers
• 00:54:21 – How to overcome sellers needing equity to buy the next property to move into
• 00:56:34 – How to pay subject-to mortgage payments and client wondering whether a partner in can join Facebook page and concerns about dead leads on Mojo
• 01:00:07 – How bankruptcy court works when dealing with a seller whose tenant-buyer has filed bankruptcy and other scenarios
• 01:02:41 – Determining which is the best potential buyer for a subject-to deal; one can afford $15000 down but negative $50 cash flow and the other $5000 down but a $250/300 cash flow
• 01:04.26 – How to approach a seller who wants to do a lease option; purchase price $60K, ARV $62k and with a tenant in the house for another eight months renting for $750
• 01:07:38 – Approaching landlord investors who want to keep tenants in and keep property without doing owner-financing
• 01:08:47 – How to do business with an investor wanting a 15% down for his property
• 01:10:30 – About using a private lender for down payments
• 01:12:40 – About mobile homes and how to turn a luxury 55-and-over community mobile home park into a potential deal; getting it and selling it with seller financing
• 01:21:09 – Meaning of "learning limit" or "learning mode" in the Facebook ads
• 01:21:42 – Restrictions for mobile homes in winter
• 01:21:57 – About "buying smarter" and issues with Facebook ads
• 01:25:36 – Ads on Facebook that are producing the best responses and how to filter anonymous profiles of leads coming in
• 01:30:11 – Possible reason for a high PITI and where to find all the ads that are running in Facebook
• 01:31:53 – Wrap-up

About Blair:

Blair is the founder and creator of Dealbot, a motivated seller lead generation company. He has managed nearly $2mm in marketing spend and generated over 100,000 motivated seller leads. He also buys and sells houses himself in the Winston-Salem and Charlotte, NC markets. In the past year, he has acquired nearly $3mm in cash flowing rental properties with zero money out of his pocket.

Multimedia:

• Youtube
• Apple Podcasts
• Google Play
• Facebook

Thank you for listening!

Success in a real estate business depends on good transactional engineering. You must be able to handle any seller situation and choose the best exit strategy. Whenever you buy a house subject-to that needs a lot of work, don't ever hand out money. The only time we consider doing so is when you want to help the seller move out of the house!

In this episode, learn how to approach sellers who: have private loans, are behind on payments and are in foreclosure, and those who want cash to cover the work that needs to be done in their house.

Hear how to buy a subject-to in bankruptcy. Discover how to approach banks in regard to the reinstatement of loans for prospects with homes in foreclosure. We discuss how to buy as-is on terms and sell on terms. Be aware of the risks and responsibilities of trustees on land trusts.

Finally, gain skills on how to do settings and action plans in Mojo to follow up with leads.

Mentioned Resources:

• Propstream
• Zillow
• Mojo
• 1800gotjunk
• Ron LeGrand
• Craigslist
• InvestorTitletoolbox

In this episode we covered:

• 00:00:00 – Start-up and market update
• 00:04:06 – How to buy a subject-to in bankruptcy converted from chapter 13 to chapter 7
• 00:08:00 – How to approach a seller with a USDA loan, $30K behind on payments
• 00:10:44 – How to transition into a lease-option when seller doesn't want to do a subject-to
• 00:12:29 – Whether deferring or re-amortizing a loan is contingent in pre-foreclosures and about having pushbacks with the gatekeepers of loan processors
• 00:16:20 – How to approach a seller in pre-foreclosure that wants to sell for what they owe and owe $60K
• 00:19:21 – About a wholesale deal out-of-state: how to market two houses on a property when one has somebody living in it and the other is full of junk.
• 00:27:00 – Settings and action plans in Mojo to follow up with leads
• 00:31:13 – A deal in which seller is asking for $265K, has a mortgage of $135K, and according to Propstream has two liens totaling $12K
• 00:38:00 – A client's words of wisdom
• 00:42:08 – About Propstream
• 00:43:06 – A client's successful way to approach banks in regards to reinstatement of loans for prospects with homes in foreclosure
• 00:47:25 – About an LLC with rentals in it under the same loan; whether if a commercial lender is more prone to call the loan due than a private lender
• 00:50:22 – A seller concerned if they can lease out on a VA loan
• 00:51:11 – Update on client's ten-packet cash deal
• 00:58:23 – About a client buying as-is on terms and selling on terms
• 01:12:44 – How to approach a seller concerned about the sale of their house, with subject-to and a carryback, affecting their income qualification; they want cash for their house that needs work and has black mold
• 01:20:10 – About another client with a similar situation previous one
• 01:22:57 – Most effective way to get script info out of people responding to ads
• 01:23:58 – Risks and responsibilities of trustees on land trusts
• 01:25:01 – A client working out strategies to make his CRM system get lots of leads coming in
• 01:29:27 –Jeff's insight about negotiating back to sellers with subject-to as far as what is owed and lenders being more flexible with terms in regards to houses in forbearance and a large short-sale market
• 01:32:11 – Wrap-up

About Blair:

Blair is the founder and creator of Dealbot, a motivated seller lead generation company. He has managed nearly $2mm in marketing spend and generated over 100,000 motivated seller leads. He also buys and sells houses himself in the Winston-Salem and Charlotte, NC markets. In the past year, he has acquired nearly $3mm in cash flowing rental properties with zero money out of his pocket.

Multimedia:

• Youtube
• Apple Podcasts
• Google Play
• Facebook

Thank you for listening!

Transactional real estate engineers should be creative and quick, but most of all, they should be wise not to evade any steps in the process when making a deal. There is a script, and that script must be followed steadily and minutely.

In this episode, learn the sequence of steps you must take to make a real estate deal work. Discover how to approach sellers with non-conforming properties who only want to cash out, and those who are in foreclosure with a USDA loan. Hear about a deal with lots of exit strategies, about buying and selling with seller financing, and how to deal with sellers walking away from a contract a couple of days before closing.

Get tips on how to do ads to hire qualified acquisitionists and how to find proper lawyers for this business. Master real estate terminology that trips newbies up.

Finally, keep updated with what is going on in the market with the shifting economy and its effects on the real estate world.

Mentioned Resources:

• Propstream
• Zillow
• Meetup
• Indeed

In this episode we covered:

• 00:00:00 – Start-up and market update
• 00:07:28 – How to approach a seller who wants to see the contract with an attorney when there hasn't been a verbal agreement yet and how the whole real estate process works
• 00:13:47 – How to approach sellers with non-conforming properties
• 00:21:30 – About a seller who wants to sell a house as three rental units; steps to make the deal work and several exit strategies with good cash flow
• 00:28:29 – About a client's business update and having trouble to get a proper lawyer; coming across a bad lawyer for this business, and about real estate appraisals and assessments
• 00:38:57 – How to approach a seller who wants to cash out and structuring the deal to wholesale and sell to somebody else
• 00:45:03 – Whether clients can go on working deals beyond the 90-day apprentice program
• 00:47:26 – Following steps after a contract has been signed
• 00:50:01 – How to approach a seller in foreclosure with a USDA loan that hasn't paid the mortgage in three years
• 00:54:15 – About a deal in which the seller is selling for what they owe; buying and selling with seller-financing and how to approach the seller on when to cash out the loan
• 00:58:44 – Difference between title company and attorney
• 01:00:10 – How to evict tenants in short and long-term leases and how to figure out buyer's monthly payment
• 01:03:13 – Re-amortization vs. refinancing as an option for the seller to bring down monthly payment and about equity spread, back end, and carryback
• 01:06:07 – What is a wrap mortgage?
• 01:08:11 – Approaching a seller that owns a property free and clear with a VA tenant willing to purchase in eight months; on the other hand, they have a lien for $200K that they have to pay off
• 01:17:26 – How to post and set an ad to hire an administrative acquisitionist and about the process before interviewing
• 01:24:07 – When sellers are concerned about something happening to the house before it gets paid off or wanting it back
• 01:27:03 – In what part of the process do clients take on leads?
• 01:27:44 – Where can clients get the resource docs from without having to get into Dealbot?
• 01:29:12 – About a seller walking away from a contract a couple of days before closing and whether suing for specific performance is recommendable or not
• 01:36:09 – How to do a video walkthrough in a deal in which seller can't stand the tenant anymore
• 01:39:10 – About evictions these days

About Blair:

Blair is the founder and creator of Dealbot, a motivated seller lead generation company. He has managed nearly $2mm in marketing spend and generated over 100,000 motivated seller leads. He also buys and sells houses himself in the Winston-Salem and Charlotte, NC markets. In the past year, he has acquired nearly $3mm in cash flowing rental properties with zero money out of his pocket.

Multimedia:

• Youtube
• Apple Podcasts
• Google Play
• Facebook

Thank you for listening!