I wanted a simple program that we could use to quickly calculate how much we can pay for a property. I’m so amazed at how fast you can make an offer when using this program! We make our first offer before we get off the phone and make our offers with 100% confidence.

Simply enter the after repaired value (ARV) because you’ve already preset the other costs. Then enter the amount of repairs and it calculates your offer automatically! You can even list how much you want to make!

Let’s take a look at a deal.

If they tell me the ARV is $100k. I’m calculating $100k times .7 and that’s $70k.

Then I deduct hard money closing cost, which averages four points or $2,800. That reduces it to $67,200 and based on past experience the taxes, insurance and attorney fees for this will be $2,250. Now it’s $64,950.

I’m told it needs $15k in work, so I reduce it by $15k. That leaves $49,950. Now I subtract my desired profit. If I want to make $5k, I cannot pay anymore than $44,950, so I offer $38,780. Always use an odd number because it lets the Seller know that I’ve done my homework. If I just say $38k, they think I’m just throwing a number out.

We buy 10-15 monthly and never look at them. I don’t recommend doing this starting out; but once you do it for a while you can too. Once you get my system setup and implemented, you can go into any market, in any city, anywhere in the country and buy and sell property.

That’s exactly what we do. We set up new markets every month in areas we’ve never been before. In fact we just completed a transaction in Cleveland, OH. We had it sold before we closed. We bought and sold it the same day and made $8k.

When buying in my market, I need to be in it at no more than 70% including purchase, rehab and closing costs. That’s if I’m rehabbing it. However, if I’m buying a property that’s an ‘Instant Landlord’ property, meaning that someone else has already bought it, fixed it up and is re-selling it or if it’s a property that’s already in good shape; I can pay up to 80% depending on the cash flow. I wouldn’t recommend paying more than 80%-85% on a property. I also don’t recommend financing more than 80%-85%. You want to leave a little room in the event you need to sell quickly.

That way you’ll always be able to sell that property. Remember your area may be different. You’ll have to ask other investors in your area and do some research to find out what the market will bear. If the property needs no repairs, you won’t need a rehab loan. You can probably get a traditional loan up to 100% depending on what you can qualify for and that way you’ll be in the house for no money down.

However, if your goal is to buy, fix up, re-finance and rent out, in most markets you will need to buy them at no more than 70%. Fix it up, re-finance it at 75%-85% loan to value, and pull out the cash, which is TAX FREE cash, as you don’t pay tax on borrowed money. Then you can rent the property out at a positive cash flow and have Tax Free cash in your pocket.

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You need 3 things to become a successful real estate investor.

The first thing you need is a “Motivated Seller”

Any and all creative real estate courses hinge on you finding the “Motivated Seller”

The good news for the creative real estate investor is that because of the current “Buyers Market” that we find ourselves in and the “Sub Prime Mortgage Meltdown” finding a Motivated Seller is not a challenge.

Plus, with the internet, it really has given the creative real estate investor an “Unfair Advantage”

Everyone is at our fingertips!

In minutes I can find out how much someone paid for their home, comps and a wealth of information that will empower me to get the very best deal I can.

Which leads me to the second thing you need to become a successul real estate investor.

You need the right specialized knowledge so you know what do do with all of that information that you found on the internet.

Easier said then done.

Most folks go on information overload simply cannot decide “what they want to be when they grow up!”

One week, they are going to be the Short Sale King or Queen and the next week foreclosures are goign to be their ticket until they see one of those rehabber shows on Sat night( Hey I love them too) and then they going into rehabbing!

Remeber this and never forget it.. a confused mind always says no and is always busted, disgusted and can’t be trusted.

One real estate deal can change your life but most quit before they get their first deal because they get bogged done on the highway of being a “jack of all trades” and a master of none.

I am here to tell you that you do not need 100 ways to invest in real estate to become super successful, all you need is one!

Stop the madness and pick one way that will work for you and work it!

This leads me to the final thing that is needed to start living life on your terms on not someone elses.

Your going to need committment!

As I said earlier, so many fall short becuase they give up before their first deal.

Hey, I have been there and realize how frustrating that creative real estate investing can be,especially when you first start out but you are going to have to become committed to seeing this thru until you get that first deal done.

I have had students ask me how loing does it take to get your first deal and my response is always the same, “As long as it takes..The better you get the easier this gets”

Who cares if it takes you 7 days 7 weeks or 7 months to get your first deal?

The goal is to get the first deal because then you are no longer “walking by faith” but you know that you know that this thing called Creative Real Estate Investing does work and can allow you to truly live a life of your dreams and a life on your terms and not someone elses.

Committ yourself to doing “Whatever it takes” to get your first deal.

Become committed , I mean truly commited and watch the clouds part and divine providence move on your behalf!

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I would like to become a real estate agent, but it doesn’t seem like anyone is giving me the straight answer. I live in Florida and have a Bachelor of Science degree in Marketing. What do I need to do?

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I have been interested in it for awhile – I worked at a law office for a couple years – would that help me get my foot in the door at a Real Estate company? Anyone have any advice or experience to share with me?

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I’ve always been so interested in real estate and after we purchased our first home I realized that it is definately something I want to do. What should I do first? I need a sponser before going to school, correct?

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I’ve recently become interested in real estate appraisal as a career. Can anyone give me the exact requirements for certification in California? Also, does anybody know what the job market looks like for appraisers in San Diego?

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Hi, I’m interested in becomming a real estate developer. I have the funding so loans are not a problem. I am not willing to get a degree in it because I honestly feel I will not need it. Plus, I am almost done with a degree in Psychology.

I have looked online for books but cannot find one that is really helpful to me. I can take a few classes in it including General Contracting, but that is it. Finding a mentor has proven difficult because not many people are willing to share what they know.

So does anyone know of any good books or classes that I should take (be specific) so that I can get started. Please answer my question with any references you may have.

Thanks!!
I want to build houses and sell them. I am not looking into ‘flipping houses’. Plus, I will be hiring a General Contractor. Basically, it’s like I want to build my own house then sell it. Why is that difficult?

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I am asking this question because of a friend
and she is trying to become an agent in Real Estate in North Carolina. Will she have to seal her records in order to do it.

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I have been in sales for 5 years and am curious how to switch to becoming a real estate agent? How long does it take before you start to earn money? All commission based? Weekends involved? What is the best agency to work for?
Southeastern Michigan. What’s the earning potential?

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I want to break into the real estate developing field. I have a 4 yr college degree in political science. Please tell me any sites or real estate developing firms in tampa, florida where I can apply? I also bought some land and want to build on it someday. How and where do I get started?

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