Five Steps To Get Your First Real Estate Deal

Kandas and Larry discuss in detail five steps to take to get your first real estate deal.

00:40:42

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

It's time to brag be rich and generous grant radio has hosted by best selling real estate investing author Larry goers and co host Kansas. For the next hour they'll show you proven and effective ways you can be successful in real estate. For the WBT studios the flagship station of the brag radio network here are your host the rock stars of real estate. Larry aunt Candace. Hello Lou. Yet an instrument to play and not to the air when. We you know what you want immediate future it's harmless you probably get huge crowd had. It's got a lot of W broader in the office and you know like if you won the heartland of universal. They're the disconnect at that stat line with the me. And a bit and I can play guitar. In the open thread in your head is amazing adds what I have and you. What I am negative. This world had no idea. And play. I G I think. And by. The it's like what I hear him and in. Better. And that's the key scene now. There that it. But there's lots of other instruments. So many out unhappiness and the mail that I don't have a pre consent to an imam nine that complaint of the bag pipes. Have put. In a substantive. You know the teacher that court is not the electric of somebody who fingered. Yes well. And you have done and it I was dominant theme to his appointment mean that it didn't just happen. It doesn't Mandarin. Actually it's hard work you have to put the hard working and I'm not I'm an instrument. He'll replace success comes before. Us until I had an addiction and candidates now in the dictionary. Yeah listen to brag radio how about investing in real estate severest in generous. We do generally talk about real stay on the show. I'm really excited about the show only. One that willow from a video store that. He illicitly and I'm really excited. Can't go out at you doesn't it I know you've seen it. The air being legs and has now spread out he makes them the video ever with. Isn't that the right there. That's the latest if you don't already follow shall FaceBook FaceBook dot com sports lastly. Each Bill Owens Linkedin are Twitter parents camper Google+ or. Anything in and exactly exactly. So. I am really excited today absolutely dire become holes were critical. Five steps. To keep your first deal in the next. Challenge each each. I am excited about it and so. We've had a lot of people that have passed okay are noble cause they asked me. Yeah. And I and I. Me you know they're what's the shortest fastest simplest easiest. That I can get a deal. And the next thirty birdies right. We and many is everywhere on ever aim your face is plastered on everything now we have them 12 or three places throughout. Somebody mentioned so why would it not be you know ask. That's funny so so yeah I mean there there are specific steps that you go to Peru to be able to get your first deal okay now. The arc I can talk to you about a couple different ways that you can get deals whether this whole selling or solar financing. But and and I I do love seller financing and also local selling those are the two models that we do. However what I'm gonna share with you during this. But so far up the load unload it with so Stiller seller financing actually reconsidered. More or less what we do now with police options. Yet the. Maybe there and oh they listened to that show you listen you know and on I opted into. So. The two quickest methods are wholesaling. And solar financing in my opinion. There's a lot of people out there there teaching fixed and flips I'm not a big fix and flip fanned he recaps literally. Hate read that he thought would work out there and turn to our bullishness general contractor and he contractors okay and I'm a licensed GC match play. But but I hate rehab. Sessions there. It's funny about this at some 983 at the remodeling out you know I'll. The well Larry does. It didn't work that he's a licensed general. I. Wolf in the war. In New England apart he thought this guy became angry tell me this. You know. Surely we all we can see on the land and news that the news and he helps somebody else they're gonna charge anymore. And what do right now port. YouTube. And can learn anything that you tune that's. And money in 19983. And are you and I started telling the story yeah this is that it is now clinic. That's for so. We're gonna talk primarily about whole selling today and and how you can get your first deal in the next thirty days because. You can do seller financing in seller financing it's much much much easier to sell the property. But there's a two step process if you need tax cash out of the deal. Okay and rewards you need to buy a property and if you're a seller finance that you find the bar that's gonna. Put a few thousand dollars down and you're gonna find its form but did if you need cash out. You have to sell that note right so that's an extra step. My staff you have no bars lined up. And and you have everything lined up in advance it's okay it's just as fast as wholesale however. However. Right. Whole selling is going to be quicker if you don't have no bars while platinum accents and hand them excellent. Well first thing you got to do is you got. You've got to get past the fear factor OK you've got to get past that and you've got to be ready to move forward. And you know that that is easier said than nine. I notice I notice right I mean there's a lot of people they got no money. Right I'm working full time job but family doesn't believe I can do it enough try. The England little. Amid their handy right now tonight. Whiny voice I'm but I had right now the way has sales to them right. Obscure it's me. I'm with my ma you be. You. Protecting you London. African style with a property. I can stay motivated. Last word ugly period at the. That's probably that's funny. Even bypassed the air act there you've got to you've got to get past the fear factors it's very very important. It is and and listen. A lot of people saying well you know I'm scared about this but I have no money to start we'll go get them to lose. Am right. Now the third. Doesn't I can show you how to start with no money that we used to say in all of our marketing advertising new cast no credit no experience we don't say that stuff anymore day. You know it's just not where it's not attracting the right tight off of student right. However you do not have to have money to get started and rules that your own you do have to have money but it doesn't have to be you or money right. We talked at that Huey suits yet and did really well about how not about leaks this or anything but about how it doesn't have to be league your money and help people get caught up on the fact that they hear. You know you have to have money at that money in that don't have money. They don't think outside the box so where I can get it. And there's a lot of ways to close a fund or a deal without any Euro money okay now. When we come back from the break reiterated take a break I can't believe I. This bill that you got that close what yeah. I the last we like it lasted like a sign of. Do you feel. But the first one is to analyze you've got to know how to analyze the deal okay. Until you know have analyzed the deal and you know what is they deal with how to determine if the deal was really a deal. You you have no deal right so when we come back commercial yeah very very quick easy simple method that you can analyze the deal literally in two seconds what cost care. That's 877 Larry at 877 mango. Request your digital investor's kit or text the word BER aide Keith at 803897606. Very. Welcome back to brag area in the you sound very excited today I need who maybe is a bit sarcastic man is that you can tell your. Sarcastic meter has taken and I've lately. The going on last week in the office and Garrett you know these New York. Is new to me and every. Saying in I don't know if he's not sarcastic leader within does doesn't register around atomic can't go any Libyan sarcastic amnesia and and is being sarcastic and when his joke and most of the time though in 98 person is Tom he's being sarcastic. With anything he can't he's our new acquisition got kids 24 years old. He's already got like two or three houses under contract that would not very ambitious very ambitious. He's just in what the CPA firm to come work with us I can regain my ground and figure out what it is going on. And ending conversation imminent that you go. The output so we're talking about your first deal thirty days we've got to get to a campus. Are you came out and lord our general growth. Vuitton the threat but the first one is analyzed right David totally went and Craig Idaho and Iowa don't act like and it figures in the. So some guys if you wanna learn how to hold shall deal and in witches is probably going to be your quickest way if you're starting with limited funds right. So that's going to be your first when all you gotta do is take a RV. That's after repaired Europe and all you need to do to find that is duels are low. And look for soul cops not possessed him forget the estimate it means zilch okay. Look for soul cops. And look and find out what they RV is where you can ask an agent does college and what the hell's going to be worth wants optics and a right. And H it will take that so. It is a RV. Let's say that they RV is a 100000 after repaired valuable source. Once you fix this property upper once someone fixes that problem with your perfect. Person you say Al Ali. The person who's gonna sell it to is yeah because you want to rehab. Heatley I ate. Too little wouldn't it make me you and I and not. That does it. Would be prudent. OK so what. Here's the deal. An RV comes point 700000. Dollars to one point 77000. Right and then you minus out couple thousand not difficult to connect. He's down to 68 right. Now you mine itself the repairs let's say the repairs or 101000 dollars now you're down to fifty miles okay. Then you subtract whatever it is you want to make let's say you wanna make 101000 now you're down to 48000. So if you pay 48. You can add ten to. Right and and sell for 58. That person's gonna have 2000 dollars in closing cost the benefit which is gonna get him up to sixty they're gonna pay 101000 rehab that's gonna give him up to seventy and that is going to be worth a hundred. That's at 30%. Equity that it happened properties which column in wind right there that's right. So if you can pay 48 your first offers probably going to be in the low to mid forties ash right. Not going to be your first so. In the future all you gotta do is think ARP transports seven minus two grand my minister payers minus what you want. Right about frank the equals how much you can pay for. Just lower your first offer from there very very very simple it doesn't get in except for the right now and no you don't you don't even need a character that I tell people town look if you need a calculator probably not a deal. If you need character there's no deal if it doesn't it doesn't take. A slightly. Right thigh at a later Cutler and I would be able and if you did the right but remember past. If you'd just start out it's extremely important that your first deal will be home. Very very very important that your first deal be home. The just remember. If you're not embarrassed by your offer probably too much. Right if you're not embarrassed later offers probably too much don't give in to. The mode of unity unity unity now you've got to get a good deal. Right like careless and that's right you've got to get a good deal make sure your person who is a home run that's very important seeing so many people. That have gone out there and whether it be they went to a some of moral or read a book or whatever the discussed so anxious just got to get a deal. And then they let somebody sell them a property. Remember gas you buy houses you don't be sold. If you buy houses you don't get sold houses that's extremely important. Right. You determine how much you can play. We we've had so many people as he shall and so some you know I've got dispersant given me a deal. And there asked in this the government can differ socialize after four you tell them what you can pay. Right you need to be the one Ryan right doubling on the insulin. That's exactly right OK that was the first thing I learned analyzed number one number two. Is funding. Number two was funding. He now that you know what is the deal next you got to line up some money right now remember. You need money to do real story disturbed at Bjorkman that's straight right definitely viewers now. There's some ways that you can do deals where you don't have to come up with the money and nobody has to come put them on right now there's a lot of different ways. To close deals where there's no funding needed. Right the threat animal to go through those right now after driving. Don't. The old style right down on them but. In me an. We have the whole thing transcribe. And we have show notes that we have links and stuff like that you can't think it's stopped where are didn't and video to Wear it until it and you can see the video of every show tears tour and international around. And let's not forget to bring the go pro couldn't. Which I have done a number twelve. So no funding needed the fastest. Easiest. Simplest way. To not have to come out with a new money is doing assignments OK when you buy a property especially from an individual. You can write in your contract as the buyer name. The name of your company or your name whatever it is last week we did a show about entities asset protection entity structure should go back from watching it or listen to it as well. Let's say it's excellent the investments LLC. And then follow that model words and for us in the courts you can assign that content right let's leave your house or McClintock. For 48000 like we just talked about. And you're gonna add ten to it in Afghanistan. For fifty miles renewable and axis that for 101000 dollars right but their full price is going to be 50000. You find what's called. An investor friendly turning your title company. Okay where you can do assignments it's not a blind shall closing at its one transaction. Where you Laura signing that contract. The clothes okay and he has an investor friendly. Yes in multiple states in multiple states. You can also always call. You're local real estate investors association. And they won't though as well write it as a second the second way. That you can do a deal with no funding needed. This options now option gives you the right but not the obligation. To buy property today. We went through that a heavily against him in debt. Oh did we look ago. So there you go back and watch that show listen of that show as well tweaking them a little bit more but likely Dallas like those are pretty long show from Larry remember when I mean out plainly but if it was really. Along our. Our our only get really into Italy the deep well the thing I get so bored at I really do. But I know you don't need to know this stuff. But down sometimes I think if you just align yourself with some authority in the air and knows that their new one and done and she wanted to do. That's the quickest way that you're gonna merely that the success so. I count like to be count on the abstract with things and I would personally rather do that Ariza that the board you. The diminution and Ito even leaning to understand the process. A ballot now works and everything just it's actually it's not that somebody could be you know it could be wearing. However anything like that does get hooked up with so many it's already been there and concede a quicker way to get it done. And how can that do that haven't been in the area. You mean give me a coward there ready to take a quick break but give me out to get your investors kit. Copies of the book scenario they dates very. In. And comes up opera both than there hiking the digital kit out here in mount union call 877 Mary go text the word brag BER AG. Eight and 38. And 76063. Any questions that you had from this last segment there too on the details we've gone through Ximian email in. At Bragg radio dot com. It's not appropriate thing and it's all in the book while is not at the tonight. We'll be right back. Welcome back to Greg Craig. Candidates that Larry and lapses or a gadfly and why the root of. It seemed that an eight iron about the commercials you know. On the air yet you pick tumor so common enough on air. And the. I was doing an invitation sent us. Not a good one funny but it entitlement that backwards. And mine that I. Know which you can. A how long how do we can and the. In trying to increased all right so we we'd like three more ago. We're gonna debate on the idea how found out and know I knew he is angle. You say bees being involved in this stop working Palmer on the show and I don't want and it. And mini me get a break. And adding. It just don't get too weary Edmonton we'll. Is there. Respect of your mind. It's OK okay let's jump through this funding funding and I think you're talking about 550. And thanks Chad yes thanks Chad I hit it. For. Him to leave the still I was on the air. Okay so. No funding needed right. Assignments options option Indianapolis Simon of an official interest she's and trust we got in a circle student she's accident on the show before Sarah. And and she's doing a deal where she's making 82. Thousand dollars she's pilot house. For one point two million right hand and she's wholesome clean up from one point three million yet but I in my environment and there was she's in California but she does stuff well. Yeah I considered a pioneer and. That's not the reports took a phone numbers of foreign phone numbers so anyway. And she she asked me how to put this deal together and she's doing and that's on the official interest using the trust right. In Houston and contract in the name of the trust for one point two million and she's going to sell the beneficial interest. 400000 dollars and minus cost and everything in Michigan and about 82000. Yeah yeah that's also tells. They don't and it was my best bargain by the right. So next you have you can create a corporation or LLC and sell the shares he just create and entities right. An entity. That is for the sole purpose of buying the property right like 125 oak street LLC. And then. You get the property and contract in that entity and to settle a 100% of that entity to your buyer for whatever you want to make wonderful self right. That's exactly the way that works all right so when did you can do what's called simultaneous closing we actually buy it. Close on it and sell its two closings back to back right. And you have to use what's called an investor from the attorneys that understand what you're doing them right. So you dual back to back closing some people call back to back some people call it simultaneous some people need to be to see that sort of thing a guy. Now there's some other method you can fund deals with your Barnhart house. But if you buy an hothouse or or how else that's on the MLS you can use those last couple ways right assignment of the official that you shouldn't trust. Create a corporation LLC and sell the shares and two simultaneous calls that you can do closed with heart and buying or whatever book. But now if you do happen how how to have funding for the you can use private money as despondent and other people that have money. And they'll put up the money for peace in the right maybe tempers and your prophet or shall. I mean I don't know anybody that wouldn't put up. You know 48000 dollars to make a thousand dollars overnight. Now they want it in Atlanta and I mean the yield on the right so. You can do private money you can do cash partners right when you bring in someone and his partner with them. And just sit and Parker of credit partners and what about your IRA using your IRA or someone else's. Right. Either one either you're RA retirement account it can be an Irish a 41 can name. A safe harbor forward can issel for one community yes say education savings account. And can also be an AT SA and help saying they're one of our students just didn't feel in his in his. Silence the SA. Any and he made 52000. Dollars in tonight's game right. And that and he's like college paid for for a year to make one you talked some right yes let's sleeping okay so. Chicago wrote it over. So the good thing about yesterday's you can pass along to another child from underneath it can be a child immigrants out you can go from London to the next Reitman so. First we had analyzed then we have funding number three is market. Number three is marketing okay. Now you've got to market funds and deals there's a lot of different ways that you can market fund deals a lot of different ways. And you know the first thing that comes to mind is run instrumental Craigslist. Right. Just runs a mental cries about houses and conditioning where cash. Lose though one of those one of their recent deals Troy has gotten way out of left from the we ran. Oh that was from an aunt where we. I ran a test that to see ran a test that with the house. It's. Showed how a pitcher of the house with pitchers inside and out initiative 49 man. Rental property. Will sell to a landlord with all the financing. And 25%. Amble up until the fall running off the pool yeah and we had a tremendous amount and still get responses this is about three weeks ago. And one of those people. They should book you know I've got house that I need to sail the wind up buying the house for his that are currently. Ranked in the top in Asheville or Henderson. Anderson yeah I'm sure we get near near Asheville. And he got an contract for thirty grant. Out of that ad now a that we posted to sell property. So guys you know you credit for earning. It you know even when you put up and the -- that you buy houses you're gonna you know the publicly to do. To buy a house from the right. Which happens all the time. So there's bandits science the scientists say album houses are slightly about houses. The pandas and you've got that you can pay people to put them out we pay people a dollar percent to put them right that's right and and there's. You can put weapons stores immediate business cards we have some unique business card like a million dollar Bil. That we use for business cards which are pretty cool postcards. And you can do direct mail with those postcards mailed about the vacant owners. Element to pre foreclosures. Mail to section eight landlords as well Saxony landlords that are don't owners. Not only section eight and other landlords as well you know they're just tired of dealing with Tenet's. People. Shun her because iguanas retires you know and they're just ready to get out and it isn't exactly exact date for any reason and be Hickel silence. Vehicle silence from liked we are about houses of Osama Lexus. The leader like he's really CNET attitude muscular and it might inspire it's been there see. And agitated candidate mark Karr is champagne. OK it's like gold but it's campaign. Elects to share and 2002. Campaign color yeah well listen I've dropped a little drop in hours at this. Wouldn't be prudent to. Can you Don Hewitt and thousand. So then but about every year or two you have to order news and because I have the science ordered. And you combine animal line. A lot of places and then you design your old. Like a business core or something and then Oprah room. And and to use particular argument as to the Warner park but right aid yet after awhile and after awhile in the yeah. So you can do vehicle sirens. You can have named Turks like scrolling named as a scrolling license plate frame moment cars is about thousands if not flatly buys. And only about house dot com website. Internet lead sources onto those out there. Flyers referrals from CPAs and attorneys even billboards there's a lot of billboards around the we've got ugly houses that home posters. Is a guy here's Sharma Russell this is we about pretty house is too which is pretty cool right. And then you got realtors are load Trulia prop bots surged to a boost mobile. There's a lot more when we come back. We're gonna go to the last two who you are closer I dark attic I call Candace right now get your free investors do you get a copy in my book. Bestselling book getting started in general state they trading which you can get absolutely free by calling campus. Yep and there's another look at Nancy you are bounced up off the saying goes you may call 877 Larry go our text the word brag PR agency to eight at 38976063. Wheel bearing back. Welcome back to brag radio. He's in the world to be rich in generous. And later. Though though. Let us across. So if he doesn't it doesn't do it this that's two weeks we've been talking about abstinence innings than thirty days he got through three of them. We're gonna see it begin made it would be attitude to add in allows funding and marketing. And avert the greening and marketing and. Yes absolutely absolutely so number four is making offers you know you don't vote Candace out to people all the time. The three most important things in rules they are make offers make offers me I am aware they have economic offer because you don't making offers you know gonna get a deal. It's very very important to make an. If you don't you know. When somebody comes to things as well as rules that stuff doesn't work first thing I say is how many offers that you made. Well I've been search and learn and know the national course how many offers have him when I talked to a couple of realtors the let me ask you another question. How many offers just the ballpark agreement. This is the standard enters and link does it stay in it to their question is your question their question it is the mean think about it. If you make no offers a house you have zero chance of mine 10. Zip nada zilch. No chance of buying it came over. Anyway so that's the three most important things now are you gonna make offers Ari. What you can do this. Economy colony to calls or write it's very important make your first offer their first phone call. You only need to know the answer to a couple things. To be able to make that offer with CA RV what's it matter players and we went down. In the first or second certain things. We got the number. So anyway. You only need to know that a RV in the American buyers then you can make the opera and it's very important to make that offer. On the first phone call right yet the second way is likely to working with agents. Are you by an listed properties make it offers a list of properties signed up for what's called email notification. Was relievers. Right right while you're on the full with the say book me an email notification list to get proper is as they become available right you'll total first. Right in the properties that meet your criteria like what we'd like to look for our properties that are listed 400000 dollar for us. The calls. That's the easiest type of properties to sell the lower priced properties we have learned that over time. The lower the price the property now I'm not gonna talk about five or ten or 151000 miles this. But typically if we can sell wholesale for 50000 or less 49 manner list. We get a tremendous amount of more buyers right. Tremendous amount of more who. I knew it before it was. You know what you ever you were. Never start a series of his life it's coming out and like when the baby you who are. You can't stop it go it's already out there are great. Anyway. Of the. So. You wanna make your first offer of a first phone call you wanna get on the email notification list right. And then you can also another way to make offers is how the real truth who had make offers for you. In all they're doing is emailing you the counter offers give them authority to make offers based on your formula. And then have them do we've got guys in our office. Realtors licensed people in our best that there all the fault and own a computer all day long Colin agents and make it offers right right. And they don't even have to talk to me until we get 100 contradictory and close to intricately and hopefully the Portland alien attack unit. Exactly ethical hole. So and then there's written offers right he could use a one page off reform you could use a ruled the realtors off reform. And if you're buying on the in my last need to use the realtors document right. Or if you buy an from the division used just like a one page offer okay. So. What you wanna do is. You wanna there's a lot of different ways on the fold there's email. There's written offers that if you wanna really cute little fancy with that right and make a lot more written offers. You can use a service like a form of realtors use that forms all the time. It forms dot com and there's doctors land or right signature. Where you can basically put an offer to purchase into right signature doctors and and you can feel it now. And then with the push of a button it goes out in an email to the listing it so you can put the offering and right through the listing agent does that make sense yet. You know we even have a CRM that that does that for you as well where it'll fill out the contract and you know that right to ballistic it's my right now there's also. If if you'd like to work on their phone or your iPad more. There don't say a computer. There's a lot of different accepted that you can use to send stuff in the scandalous and offers to purchase likes are now that's an out. PDF scanner or scared or pro. Turbo scant resemblance to what's going home. What's happening right now. There's going to be in. Yes still got a noble when ago. Drama going our way through the segment right. So you can also have a VA cement offers for its well you can have a BA submit offers now. Don't worry about the due to distribute and make sure you know fifteen day inspection. And you're gonna go through your due diligence and we went on the part about that but cult and this book. All the details in there okay. Now the last one. There are number five. In five steps to get your first deal in thirty days. Is to sell the property fast guy you wanna wholesale while uncle selling his stock of deepened selling cheap right it is the fastest way to article a few hours. Why is only bench indeed some and somewhere I don't know a stock from the solemn T yeah. You MP business you do more than educated buyers is no emotions involved because so your properties liberal we shall properties in two hours last. Because shall by email for Sheen got to do is building buyers' list okay. And where you gonna build a buyer's list re groups. Printed classifieds online classifieds all land houses for sale. And we have diesel bandits and that's safe for closure with the price it'll say like worth 80000. Are price. 49 personal collect that right now. And and it really helps you can also solemn old FaceBook there's FaceBook groups out there go to FaceBook groups. And sign up for groups in your area rules state investing groups in your area of the year in the Carolinas or taxes or wherever. And you can use your profile you can use of FaceBook page for your business. And you could run man it's common share post. Join different groups there's just a tremendous amount of waste. Just on FaceBook that you can go to bars right in the new war put them in the some kind of Dayton base okay. So some kind of a Dayton base where you consumed a mile and you hope. For a date yet know he can cinnamon email a database. You can send out an email like milk chip we use Milch. We used Belgium. So you can Sonoma on an email anytime you get another property and contract send an email out to your buyer's list. That says they have done a great deep discount of property it won't last long you know let me know if you want cash buyers only. Right catch fire at cash buyers coal and gas definitely got to do is get out there and start making offers or make enough for making offers that's right. So you're gonna analyzed the deal right. You're gonna analyze the deal is number one yeah they need to lineup be funding. The need to start marketing to get properties. Then you can start making offers make offers makeovers make golfers right. And there and you can sell fast remember work as hard to build your buyer's list. As you do fund and properties. That way when you get a deal you have some mud so to a lot of people were afraid to make offers. 'cause their biggest fear is what does that say yes now what do what do right. She if you start working hard universalist. You'll have to worry about counseled by itself to an a tonight if it's a deal. If it's a good deal right. The buyers will come. Right if it's a good. And those saying it will sail right yen and not think. He has gimme a call 877 Larry go. The copy of the investors kid can register for our next three day event where we go until lap Mardy tell on the stuff talk about mentoring programs. I'm counting anything and everything. You can send me an email to info at Bragg radio dot com or you can text the word BR AG 8038976063. For that investors get. That we can get out here enough 877. Larry go shoot it again next Saturday for bragged radio. As best selling real estate investing up to Larry goers and co host Kansas teach you the latest techniques the pros use to make money in real estate. If you'd like more information about what Larry Candice talked about on today show but like a free investors get Fortis schedule a tour of the office. Ali 77 Larry now that's 8775277946. It's brag radio be rich generous. I've been struck 1110993. WP today.
READ MOREREAD LESS