1. Asset Management
1.1. Get $2Million Umbrella Policy
1.2. Fraudulent Conveyance
2. Evaluate Deal
2.1. Get Comps -
2.1.1. Prop Stream
2.1.2. Zillow.com
2.2. Market Trends
2.3. Take Snapshot: Due Diligence
2.4. Estimate Costs to Sell
2.5. How Can I make Money on this Deal?
2.6. Equity Sharing
3. Paperwork
3.1. Title Insurance
3.1.1. Write up sale
3.2. Homeonwer insurance
3.3. Write Simple Offers
3.3.1. Get form from Real Estate Board
3.3.2. Use FF Offer forms
3.4. Wholesale Contract - Make it assignable
3.5. Create forms/contracts
3.6. CR Source on Wholesale Deals
4. Network
4.1. Buyers - Wholesale Deals
4.1.1. Contractors
4.1.2. SellMyHouse.com
4.1.3. Investors
4.1.4. Real Estate Clubs
4.2. Finance
4.2.1. Asset Investors
4.3. Small Banks Investor Rep
4.4. Homebuyer Class Presenter
4.4.1. Brokers 1st Time homebuyer classes
4.5. Property Managers
4.5.1. Property Mgt Company
4.6. Divorce Lawyers
4.7. Policemen
4.8. Bail Bondsman
4.9. With Other WholeSalers
4.9.1. Homevestors.com
5. Build Team
5.1. Lending Sources
5.1.1. Hard Money Lenders
5.1.2. Private Investors - Cash Buyers
5.1.3. Banks
5.1.4. Owner Financing
5.1.4.1. No current loan on property
5.1.5. Wholesaling
5.1.5.1. RE CashSource
5.1.6. Get 3 Private Money Lenders
5.1.7. Retirees: Setup Self-direct IRA
5.1.8. Business lines of credit
5.2. Realtors w/Investor Contacts
5.2.1. Profile what you want
5.2.1.1. Contact Bd/Realtors
5.2.1.2. Find largest listers
5.2.1.2.1. Talk to Receptionists - "I'm a real estate investor. Looking for broker. Who would you work with?"
5.2.2. Fast/Can-do Attitude
5.2.3. Like working with them
5.2.4. Access to Multiple Listing Service
5.3. Generate Referrals
5.3.1. Pay mailman
5.3.2. Pay subcontractors
5.3.3. Pay Bird Dogs - College Students
5.4. Find Private Investors
5.4.1. Take money secured against real estate
5.4.2. Never Beg For Money
5.4.3. Example: Offer 10%, Payback Early - Gain a Investor's Trust
5.5. Contracting Team
5.6. Real Estate Attorneys
5.6.1. Can-do attitude
5.6.2. Experience
5.7. Determine Partner Value
5.8. Flipping Team Mentors
5.8.1. Pete,Dave
5.8.1.1. Brad Russell
5.8.1.2. Tim Hellbush
5.8.1.3. Ross
5.8.1.4. Mike
5.8.2. Robert Shemin
5.9. Title Co. Marketing Consultant
5.10. Real Estate Co. Marketing Assoc.
5.11. Mortgage Company Consultant
5.12. Get your Insurance License
5.13. Certified Property Management
6. Finding Deals Not Markets
6.1. For Sale By Owner
6.2. REO Brokers
6.3. New Home Buyer Workshops
6.4. Shemin deals he can't do
6.5. Rental Ads - Call
6.6. Community Reinvestment Act - CRA
6.7. Code Violations - Get List
6.8. PropStream by Equimine
6.9. Bed and Breakfast Conversion
6.10. Insurance Claim Adjusters
6.11. Connected Investors.com
6.12. Fed Tax Liens
6.13. Title Companies
6.14. Bankruptcy Trustees
6.15. Wholesalers
7. Get Paid
7.1. Meet: Walk-through w/Appraisers
7.2. Meet: Walk-through w/Broker
7.2.1. Bank hires broker (cheap) for opinion = BPO
7.3. Get PAID TWICE
7.4. Never sign a deal w/buyer that is not pre-approved
7.5. Work-around Bank Flipping Restrictions #1
7.6. Wholesaling Deals
7.6.1. WHOLESALING - FIND THE BUYER FIRST
7.7. RE Cash Source - Day Flip Loan - Buy it. then Sell it,
8. Biz Building Blocks
8.1. 7 Cs
8.1.1. Commit - Clarify - Collect - Calculate - Contract - Construct - Cashout
8.2. SET GOALS
8.2.1. 5 year commitment
8.2.2. Rule #1 What is wrong w/now?
8.2.3. Pay off bad debt
8.2.4. Build a Business...
8.3. Systems, Policies and Procedures
8.3.1. Manage Property Managers
8.3.2. Get Interns
8.3.2.1. Over opportunity
8.3.3. Use FF Systems - Don't loose money
8.3.4. Try 3 Finding Deal Strategies
8.3.5. Setup Self-direct IRA - Worth $49M
8.3.6. Develop 7 - 9 sources of income
8.3.7. Focus on risk-free transactions
8.3.8. Work 'on' biz not 'in' biz
8.3.9. 5-3-1 Response Rule
8.4. Learn from everyone
8.5. Dominate Your Market Niche
8.6. Get a self-directed IRA
8.7. PropStream
8.8. Track your time
8.9. Cash Flow Mgmt.
8.10. Use Elite Support:
9. Make Offers
9.1. Setup Resubmit Offering System
9.1.1. Make "copy" of Earnest Money Check
9.1.2. Use Other People's Money
9.1.3. "As is" - with 10 day inspection "out"
9.1.4. Setup monthly, qrtly and annual offer system
9.2. REO or Loss Mitigation Dept.
9.3. Contra Costa Foreclosures
9.3.1. Santa Cruz Foreclosurees
9.3.1.1. Santa Clara Foreclosures
9.4. Qualify Offer
9.5. Take over payments
9.5.1. RE Cashsource.com
9.6. 22 minutes
9.7. Lease Options
9.8. Buy House w/Credit card 0 interest/6 mo.
9.9. If you loose, make backup offer
9.10. Do not give Earnest Money!!
9.11. Sign Contract - Start Advertising
9.12. Wholesale Contracts
9.12.1. Negotiate
9.12.2. investment Deal Title Company
9.13. Negotiate Short Sales
9.13.1. Find people underwater, late on loans
9.13.2. Meet BPO Agent at home
9.13.2.1. Check their comps - show similar problems
9.13.2.2. Show them, have them photo work needed
9.13.2.3. Add reports from contractors with 3 bids on cost of work.
9.14. Walk-through w/Broker Price Offer
9.15. One Sheet Offers
10. Fix The House
10.1. Get 3 Quotes on all repairs
10.1.1. - 5 Items of Your home
10.1.2. - 5 Items on Home for Sale
10.2. Budget for Worse case scenario
10.3. Kitchen
10.4. Living Room
10.5. Get Project Mgr.
10.5.1. Mutually Aligned Interest
10.5.2. Go to Score - get a retire project mgr.
10.6. Landscaping
10.7. Master Bed/Bath
10.8. Systems Analysis
10.8.1. Heat/Air
10.8.2. Improvements
10.8.2.1. Built in Sound System
10.8.3. Plumbing
10.8.4. Roof
10.8.5. Interior light
10.8.6. Electrical Needs
11. How to Sell House
11.1. Put on the MLS
11.2. Big Signs on House
11.3. Flyer the neighborhood
11.3.1. Pay referral fees
11.4. Websites - eBay, Trulia, zillow
11.5. High end sales - Winetasting open house
11.6. Equator - Short Sales
11.7. Stage home
11.8. Curb Appeal
11.8.1. Toys and brownies
11.8.2. How does my house smell?
12. Rental Properties
12.1. By the Door
12.2. Lease w/option
12.3. $1,800 Cost to replace tenant
12.3.1. Provide Incentives
12.4. No emergencies
13. Financing - Raising Seed Money
13.1. RE Cash Source
13.2. Month Rehab Loan
13.2.1. Raise more money than you need