1. Evaluate Deal
1.1. Get Comps -
1.1.1. Prop Stream
1.1.2. Zillow.com
1.2. Market Trends
1.3. Take Snapshot: Due Diligence
1.4. Estimate Costs to Sell
1.5. How Can I make Money on this Deal?
1.6. Equity Sharing
2. Finding Deals Not Markets
2.1. For Sale By Owner
2.2. REO Brokers
2.3. New Home Buyer Workshops
2.4. Shemin deals he can't do
2.5. Rental Ads - Call
2.6. Community Reinvestment Act - CRA
2.7. Code Violations - Get List
2.8. PropStream by Equimine
2.9. Bed and Breakfast Conversion
2.10. Insurance Claim Adjusters
2.11. Connected Investors.com
2.12. Fed Tax Liens
2.13. Title Companies
2.14. Bankruptcy Trustees
2.15. Wholesalers
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. Get Paid
4.1. Meet: Walk-through w/Appraisers
4.2. Meet: Walk-through w/Broker
4.2.1. Bank hires broker (cheap) for opinion = BPO
4.3. Get PAID TWICE
4.4. Never sign a deal w/buyer that is not pre-approved
4.5. Work-around Bank Flipping Restrictions #1
4.6. Wholesaling Deals
4.6.1. WHOLESALING - FIND THE BUYER FIRST
4.7. RE Cash Source - Day Flip Loan - Buy it. then Sell it,
5. Biz Building Blocks
5.1. 7 Cs
5.1.1. Commit - Clarify - Collect - Calculate - Contract - Construct - Cashout
5.2. SET GOALS
5.2.1. 5 year commitment
5.2.2. Rule #1 What is wrong w/now?
5.2.3. Pay off bad debt
5.2.4. Build a Business...
5.3. Systems, Policies and Procedures
5.3.1. Manage Property Managers
5.3.2. Get Interns
5.3.2.1. Over opportunity
5.3.3. Use FF Systems - Don't loose money
5.3.4. Try 3 Finding Deal Strategies
5.3.5. Setup Self-direct IRA - Worth $49M
5.3.6. Develop 7 - 9 sources of income
5.3.7. Focus on risk-free transactions
5.3.8. Work 'on' biz not 'in' biz
5.3.9. 5-3-1 Response Rule
5.4. Learn from everyone
5.5. Dominate Your Market Niche
5.6. Get a self-directed IRA
5.7. PropStream
5.8. Track your time
5.9. Cash Flow Mgmt.
5.10. Use Elite Support:
6. Rental Properties
6.1. By the Door
6.2. Lease w/option
6.3. $1,800 Cost to replace tenant
6.3.1. Provide Incentives
6.4. No emergencies
7. Financing - Raising Seed Money
7.1. RE Cash Source
7.2. Month Rehab Loan
7.2.1. Raise more money than you need
7.3. Year Bridge Loan
7.4. Equity Line of Credit
7.5. Take over the loan
7.6. Hard Money Loans
7.7. Owner financing
7.8. 401Ks, Life Insur., Credit Cardds,
7.9. 0 Interest Loans
7.10. Lease w/option
7.11. Loan Reset
7.12. Short Sales
8. Asset Management
8.1. Get $2Million Umbrella Policy
8.2. Fraudulent Conveyance
9. Build Team
9.1. Lending Sources
9.1.1. Hard Money Lenders
9.1.2. Private Investors - Cash Buyers
9.1.3. Banks
9.1.4. Owner Financing
9.1.4.1. No current loan on property
9.1.5. Wholesaling
9.1.5.1. RE CashSource
9.1.6. Get 3 Private Money Lenders
9.1.7. Retirees: Setup Self-direct IRA
9.1.8. Business lines of credit
9.2. Realtors w/Investor Contacts
9.2.1. Profile what you want
9.2.1.1. Contact Bd/Realtors
9.2.1.2. Find largest listers
9.2.1.2.1. Talk to Receptionists - "I'm a real estate investor. Looking for broker. Who would you work with?"
9.2.2. Fast/Can-do Attitude
9.2.3. Like working with them
9.2.4. Access to Multiple Listing Service
9.3. Generate Referrals
9.3.1. Pay mailman
9.3.2. Pay subcontractors
9.3.3. Pay Bird Dogs - College Students
9.4. Find Private Investors
9.4.1. Take money secured against real estate
9.4.2. Never Beg For Money
9.4.3. Example: Offer 10%, Payback Early - Gain a Investor's Trust
9.5. Contracting Team
9.6. Real Estate Attorneys
9.6.1. Can-do attitude
9.6.2. Experience
9.7. Determine Partner Value
9.8. Flipping Team Mentors
9.8.1. Pete,Dave
9.8.1.1. Brad Russell
9.8.1.2. Tim Hellbush
9.8.1.3. Ross
9.8.1.4. Mike
9.8.2. Robert Shemin
9.9. Title Co. Marketing Consultant
9.10. Real Estate Co. Marketing Assoc.
9.11. Mortgage Company Consultant
9.12. Get your Insurance License
9.13. Certified Property Management
10. Network
10.1. Buyers - Wholesale Deals
10.1.1. Contractors
10.1.2. SellMyHouse.com
10.1.3. Investors
10.1.4. Real Estate Clubs
10.2. Finance
10.2.1. Asset Investors
10.3. Small Banks Investor Rep
10.4. Homebuyer Class Presenter
10.4.1. Brokers 1st Time homebuyer classes
10.5. Property Managers
10.5.1. Property Mgt Company
10.6. Divorce Lawyers
10.7. Policemen
10.8. Bail Bondsman
10.9. With Other WholeSalers
10.9.1. Homevestors.com
11. Make Offers
11.1. Setup Resubmit Offering System
11.1.1. Make "copy" of Earnest Money Check
11.1.2. Use Other People's Money
11.1.3. "As is" - with 10 day inspection "out"
11.1.4. Setup monthly, qrtly and annual offer system
11.2. REO or Loss Mitigation Dept.
11.3. Contra Costa Foreclosures
11.3.1. Santa Cruz Foreclosurees
11.3.1.1. Santa Clara Foreclosures
11.4. Qualify Offer
11.5. Take over payments
11.5.1. RE Cashsource.com
11.6. 22 minutes
11.7. Lease Options
11.8. Buy House w/Credit card 0 interest/6 mo.
11.9. If you loose, make backup offer
11.10. Do not give Earnest Money!!
11.11. Sign Contract - Start Advertising
11.12. Wholesale Contracts
11.12.1. Negotiate
11.12.2. investment Deal Title Company
11.13. Negotiate Short Sales
11.13.1. Find people underwater, late on loans
11.13.2. Meet BPO Agent at home
11.13.2.1. Check their comps - show similar problems
11.13.2.2. Show them, have them photo work needed
11.13.2.3. Add reports from contractors with 3 bids on cost of work.
11.14. Walk-through w/Broker Price Offer
11.15. One Sheet Offers
12. Fix The House
12.1. Get 3 Quotes on all repairs
12.1.1. - 5 Items of Your home
12.1.2. - 5 Items on Home for Sale
12.2. Budget for Worse case scenario
12.3. Kitchen
12.4. Living Room
12.5. Get Project Mgr.
12.5.1. Mutually Aligned Interest
12.5.2. Go to Score - get a retire project mgr.
12.6. Landscaping
12.7. Master Bed/Bath
12.8. Systems Analysis
12.8.1. Heat/Air
12.8.2. Improvements
12.8.2.1. Built in Sound System
12.8.3. Plumbing
12.8.4. Roof
12.8.5. Interior light
12.8.6. Electrical Needs
13. How to Sell House
13.1. Put on the MLS
13.2. Big Signs on House
13.3. Flyer the neighborhood
13.3.1. Pay referral fees
13.4. Websites - eBay, Trulia, zillow
13.5. High end sales - Winetasting open house
13.6. Equator - Short Sales
13.7. Stage home
13.8. Curb Appeal
13.8.1. Toys and brownies
13.8.2. How does my house smell?