Ever wonder WHERE people find incredible real estate bargains? If so, this course will gives you an actual, in-depth look on where to look for residential real estate bargains.
But perhaps you're NOT looking for a home to flip. Maybe you're just interested in finding a property with special features: like a home with a view or RV access? If so, this course will help you too!
Where to Find a Killer Deal shares how real estate agents LOCATE sellers with bargain properties too, so if you happen to be a real estate agent, this course might help you realize what you are doing RIGHT as well as discover additional tips on finding bargains to sell or just getting into Google news.
The course is structured around seven insider "Secrets" for locating real estate but of course some of these things are NOT all that secret. Plus there are LOTS more tips than just those seven secrets.
Also, some of the tips that investors in LA and agents in Los Angeles use,might be helpful in your area- where ever YOU happen to live. Some I had not considered before.
The course also comes with FLIP ANALYZER SOFTWARE that quickly crunches the numbers of a potential flip property. It's a nice bonus.
(Not that you couldn't crunch the numbers using an Excel spreadsheet) but this little piece of software does it very quickly.
In addition to the video sales course and the nifty software, you will also find pdf files, worksheets and even sample contracts and deeds.
A "finders fee" contract to use with "bird-dogs" (think pizza-delivery folks)
CONTRACT where an investor might share the profits with the OWNER.
A Comparable Market Analysis Form to help an owner see what other homes are really selling for.
Time involved: the entire Finding a Killer Real Estate Deal video course lasts about an hour and fifteen minutes. Time passes by quickly too, because the instructor keeps a lively pace and it's fun learning how to find bargain properties.
That being said, the goal of this course is to help IMPROVE YOUR ODDS for finding a real estate bargain. But along the way, we'll bust three myths about finding a real estate bargain.
MYTH#1: That a bargain house-hunter MUST ALWAYS locate a MOTIVATED seller in order to obtain a bargain. NOT true, because many good deals have come from UNMOTIVATED sellers! This course shows you how to LOCATE them.
MYTH #2: A house-hunter MUST drive a hard bargain in order to get a deal. NOT TRUE. Sugar usually works better than vinegar in order to motivate people, don't you agree?
MYTH #3: The EASIEST way to locate a bargain property is to find a seller with a LOT of EQUITY and make a low-ball offer. Again, NOT TRUE. I don't believe in taking unconscionable advantage of family members or the blind/elderly just to make a buck. That is immoral and unnecessary. Real estate is like a Vegas buffet. Everyday they are always bringing out fresh supplies.
Finally, if you look at the real estate section of the Sunday newspaper and see all those smiling real estate agents looking back at you, realize that they are NOT necessarily your competition!
You will discover secrets on dealing with real estate agents as well as many other tips, techniques and traps to AVOID. The next choice is up to you. If you want to know where to find a real estate bargain, and have some fun doing so, this course is a good place to start! And yes, there is a Partnership Contract for those of you who have good credit but no downpayment This is a serious course that some college students have used to find home-seller leads for realtors and then have used the finder's fee agreement to monetize those leads.
Everyone loves a bargain, don't they? Especially in real estate. But there is a lot of misinformation on finding a bargain property, and many real estate guru's make it sound very simple and easy to do. I attended one seminar where a grey-haired investor bragged about all the great deals he had snagged. But when I asked him, "How did the sellers?" He answered, "I just did."
Another real estate guru from Indiana told me, "Just find any seller and offer 60% of value and see what they say.So if I house is selling for $400,000, you want to offer $240,000."
He actually said this with a straight face. Like people in Los Angeles would be jumping for joy with these kinds of offers! (After the seminar I asked for and got my money back!)
It reminded me of when I first started in real estate. I had an investor named Sam who told me that he would buy ANY property that was 30% below sold market comps. When I told Sam that I couldn't find a property like that, he drove me to a vacant fixer and had me knock on the door. There was nobody home so I left a business card. To make a long story short, Sam DID end up buying the house -- at about 16% off market value.
Then while Sam was fixing it up, the real estate market suddenly appreciated.. about 10% more. And because he had done a nice job renovating the home, we listed it for about .. you guessed it.. about 30% more than the purchase price, and it sold. That's the truth!
Fast forward to late Feb 2014, a new investor complained about not being able to find a house to purchase. I found him a home that was NOT on the market. He purchased it for $365,500, put about $8,000 into it and resold it for $435,000. It closed in May 2014. How did I find that house?
That's what this course is all about!
Finding a real estate bargain often starts with asking the right questions. In this Lesson you'll find a simple question that helped one of my investors net over ONE MILLION DOLLARS. Plus this lesson will help you get in the right frame of mind when meeting real estate agents and homeowners for the first time. Remember, these questions may not always yield positive results EVERY TIME but the key is to be persistent because they WILL improve your odds. Note: Don't forget to download the .pdf file of Lesson One and a Worksheet with MORE TIPS in the Supplementary Materials Section..
Sometimes we feel obliged to make a concession to someone who has made or is willing to make a concession to us. That's what Secret #2 is about. Let's say, for example, that you are at a clothing store and Kelsey, the salesperson seems awfully nice. So before leaving the store, you purchased something small like a belt or wallet. Why? Because Kelsey had tried so hard to help you. That is the idea behind this lesson. That people will work for you if you give them an incentive- even if they didn't find what you are looking for today. One day, you might get call from out of the blue about an owner who REALLY wants to sell. Also, there is a worksheet and a .pdf file in the Supplementary Materials Section.
Death, divorce and distress are often signals that a real estate bargain might be found NEARBY. After all, if your spouse of 30 years dies, do you really want to live in the same house with all of his/her memories? Well, even if you MIGHT say "yes" many people would say heck NO!
Now if both spouses die at the same time, the estate might have to go to probate. Question: Is the Probate Judge a MOTIVATED seller? No, not really. He could care less what the house sells for - as long as it follows the rules.
Yet because not many people want to deal with probates, a smart investor can often pick up a bargain property here. Find out more on how to find these nuggets in this lesson. You can also download LETTERS FOR DEFAULT HOMEOWNERS,the .pdf file and worksheet for Lesson 3 in the supplementary materials section.
This is a continuation of Lesson 3a. Visiting the Hubzu website.
A quiz on Secrets 1,2 and 3
If you read your local newspaper, you'll often find "Pre-foreclosures" listed in the Classifieds Section. These "NOTICE OF DEFAULT" or "NOTICE OF SALE" properties might be sold at auction, unless the seller is able to bring the delinquent loan current. Can you purchase a home from such an owner? Yes. But it might take a bit of romancing to do so, and that's what this Lesson is about. How to romance a seller in preforeclosure. You can download the .pdf file and Worksheet for Lesson 4 in the Supplementary Materials..plus some sample LETTERS to send.
In any kind of sales, the idea is to mention what is painful and then offer a solution! Do you have a headache or sore muscles? Then buy this product! Similarly, when it comes to foreclosures, people are looking for ways to save their homes. And like the investor who netted ONE MILLION dollars, offering a solution will often have people calling you. In the Supplementary Materials Section you can download a Postcard Template that I've used as well as the .pdf file and Lesson Worksheet!
This lesson deals with social proof: what it is, how to use it to your advantage and how sometimes it pays to avoid it. So what is social proof? Some folks call it "herd behavior" meaning that when we're unsure of what to do we look at someone else and copy them! Monkey see, monkey do.
So if there are a lot of good testimonials listed on a page, you might decide to give that investor person (or real estate agent) a try.
And sometimes it pays to buck the system. If nobody wants to buy a home in an area, for example, because of a recent earthquake, some shrewd investors will quietly start purchasing homes. You will find more TIPS in the Lesson 6 Worksheet about USING FACEBOOK and BUILDING A QUICK WORDPRESS WEBSITE, so download it in the Supplementary Materials Section.
Most real estate investors FAIL to employ the news media to help them attract home sellers. Yet one simple press release helped me land three or four homeowners who wanted to sell. How do you write a press release? Download the Worksheet in the Supplementary Materials section - it offers tips on how to format, etc. I have also included a SAMPLE PRESS RELEASE that I made for this course. Hope it helps you!
Someone once said that "The trick to being a bore is to tell EVERYTHING you know about a subject!" Hopefully I haven't been too boring. And by now you should realize that there is more than one way to find a bargain home. Hopefully too, you will have shucked away the three myths that hold most new investors back.
Myth #1: You need to find a motivated seller in order to locate a bargain.
Myth #2: You always have to drive a hard bargain.
Myth #3: The easiest way to locate a bargain is to locate a seller with a lot of equity and make a low offer.
By being generous with real estate agents, garage sale folks and bird-dogs, and acting on some of the other tips, you might start to get leads on properties that have yet to hit the market! Plus you are NOT taking advantage of anybody! Determining what is a "killer deal" and/or what is worth purchasing is up to you. You will need to do your homework - or at least bribe a realtor to do it for you. I have included a blank CMA form (comparative market analysis) in the Supplementary Materials Section.
The sample Partnership Agreement is to have a written agreement in case you have good credit but no down payment and are planning to go "halfsie's" with a friend or business partner. The sample EQUITY purchase agreement is to be used when the HOMEOWNER is going to be your business partner.
The Finder Fee Agreement is for your bird-dogs. The blank CMA is to use for determining what the ARV is of a property. (average resale value) and the FLIP ANALYZER SOFTWARE just needs some simple numbers to be plugged in, and it will tell you the return. The REPAIR BID form is for a contractor to fill out to get a written estimate on how much it might cost to fix up a property.
Bob Boog works as a real estate broker in Newhall, Ca. and has worked in the highly competitive Los Angeles real estate market since 1978. He attended UCLA on a merit scholarship and graduated in 4 years with a BA in English. He is also the author of the best-selling books, Selling Homes 1-2-3, Real Estate Sales from Hell and Selling Outside the Square.
In this course, you will learn how to make money using leveraged income as well as discover who the average buyer is nowadays, how they think and what they want.
Boog believes that the more you know about your target audience, the easier it is to sell to them. As the old saying goes, "You can't really know someone until you walk a mile in his shoes."
Then, unlike most sales courses that discuss setting goals, working hard or being persistent, he talks about 12 psychological triggers that scientists believe motivate people to buy things. He also lectures about Facebook and keeps things lively with a number of humorous memes. The Resource Section contains a guide to the links used in the course, and there is sample Work Agreement that students can model to use to create cash flow via leveraged income.
This is a fascinating and entertaining course unlike all others. If you are ready, dive into the intro to learn more about it!