Real Deal REInvestor Network

Are you a homeowner?
Would you use a realtor when/if you ever sold your home?
Do you like free gift cards from the top 7 retailers?

If you answered yes to all three, then I have a sweet deal for you!

Go to: www.CC.HomeownerAdvantageUSA.com
Follow the instructions to register your home for the Homeowner Advantage USA program.  It costs nothing to join!

Pick a realtor from the list available in your zip code.  (Over 90% of the top national real estate brokers are on the list.)

Pick one of the retailers you would like to receive FREE GIFT CARDS from that are as good as cash.  (Walmart, Target, Macy's, amazon.com, The Home Depot, Shell and Best Buy are your choices.)

You can qualify for up to $2000 in FREE GIFT CARDS!

Tell your friends about the program.  Make sure you refer them and record their email addresses where instructed.  When they sign up, you will get additional $50 gift cards for each one!

The program is available in 15 States at the moment with 10 more coming aboard soon. 

Enjoy your FREE GIFT CARDS!

www.CC.HomeownerAdvantageUSA.com

Jeanette graduated from college with a BS degree in Computer Engineering. She was a working student, who found a job training company employees to learn Microsoft Office (MSWord, MS Excel, MS PowerPoint, MSAccess, MS Project, MS Outlook, MS Publisher, Dreamweaver, Adobe Reader, Adobe Professional, Adobe Photoshop). There she learned to love Excel the most. After graduation she worked 3.5 years on software programming as a Junior Consultant for a utility company in the Philippines while working part-time as an instructor in the university. When she migrated to the US, Jeanette used her professional skills and experience to help business owners and communities in their administrative tasks in organizing, coordinating, analyzing, and evaluating company performance. She continuously strive to learn and use the internet/web based systems and social networks that will help her in her current business ventures. She has recently partnered with Jomar Hilario and internet marketing consultant in the Philippines to expand her knowledge in internet marketing.

Jeanette offers the expertise of an Information Technology professional focusing on INTERNET based technologies and INTERNET MARKETING strategies.

Jeanette knew in her heart that she was called to something greater... After some time, with much courage in her heart, Jeanette resigned from her full-time job as a consultant. She ventured full-time with a networking company where she believes most of her strength and skills in marketing, selling and leadership flourished. She became a Manager for the company after some time. She hates saying the word, but it was hard and challenging. She knew she needed that experience to strengthen her for upcoming battles as an entrepreneur.

Jeanette offers the skills and persistence in NETWORK MARKETING and understands the value of MASSIVE ACTION.

As of the moment, Jeanette resides in the warm and luscious city of Tampa, Florida where she has been actively building her real estate empire since September 2010. Yes, she is new. But since then, she has been attending trainings after trainings, weekly networking meetings with local groups in Tampa and have been working together with other experienced investors to be her guide in her real estate investing journey. She also connects with virtual investors networks in the US and in the Philippines. She focuses on wholesaling and holding SFRs in the Tampa bay area. Mostly REO properties for wholesaling and lease option properties for holding and renting. One of her goals within 2011 and 2012 is to venture into the commercial real estate by owning an apartment complex.

During a short period of time, Jeanette has MASSIVELY connected.  Jeanette offers her CONNECTIONS and RESOURCES through virtual and local real estate social networks like Buy your first deal, Monday Night Group, Friday Night Group, SREIA, Real Deal Community, Cash Flow Depot, Tuesday Night Mastermind Group, Freedomsoft community by Preston Ely and more.

Jeanette knows the value of giving and receiving. She knows that the only way she'll be able to get help is to offer help first. With her technical skills and training she has offered help to investors who have not used or maximized the power of Internet Marketing in their business. She offered to do a presentation to local landlords, rehabbers, and investors on why use Facebook and other social networks to market their properties.

Jeanette has the attitude of SERVICE, of GIVING, of SOWING, knowing that in the end all her efforts will reap rewards in the right time.

And lastly, as a child she has learned to take care of her family especially her younger brother. She learned to save money from her allowance for things she like and want. At a young age she learned to look after herself and her brother. She is happily married to a loving and caring husband whom she wants to spend more time with. She wants to prepare their family for the coming of their children. She wants to give a comfortable life for her Moms in the Philippines. She wants to see them more often than once every 2 years. She wants to be reunited with her family back home. She wants to be relieved of the pain of not being able to give and help those in need. She wants to receive more because she wants to give more.

Jeanette offers a caring heart for WHAT MATTERS MOST in her life, FAMILY, her Friends, and her community.

With the RIGHT reasons to become successful the HOW should come naturally and with ease.

 

I just closed my first wholesale deal at the end of January 2010.  Some things I did right and some not so much, so I thought that sharing the lessons I learned might help you too.

1.  You can build your buyers list before you ever have a property under contract.  I went to my local REIA groups and talked to the founders of the groups, other people in attendance, people who had booths...  and I built a buyers list from that.  When I had my deal under contract, I called up the people I'd met and presented the deal at an REIA meeting which is how I wound up finally selling the deal.

2.  Don't be embarrassed to make a REALLY low offer.  The owner of the property that I purchased had the property listed for $250,000.  However, I had sent a postcard to owners who didn't live in their properties and he called me directly from the postcard.  At first, he told me that $190,000 was the least he would accept.  When I ran the numbers, I really didn't want to offer more than $108,000, but I offered $120,000 and he said he'd accept $130,000.  If an owner really, really wants to get rid of their property, they will sell it to you for a low price.  You don't know their motivation.  Even a low price is a win for someone who is dying to get rid of a property. 

3.  Keep marketing your property until you have money in hand.  This was a huge mistake I made.  First, I called up one of the top guys from a local REIA and he was interested but couldn't come up with the money for some reason.  And I thought for sure he could deliver, so I stopped marketing for a week and a half, which is a long time when you have a 20 day time limit on a contract.

4.  Don't give the buyer until your last day to close.  This was another mistake I made.  Give your buyer a week and don't tell them the end date on your contract.  If they can't perform in time, at least you have a few more days for them to come up with the money or to find another buyer.

5.  Get someone as a backup and give them the same deadline as the first buyer.  Tell your backup buyer that they need to have all their ducks in a row to close the same day as the first buyer so that if the first buyer backs out for whatever reason, the 2nd buyer is ready to roll.

6.  Know your market!!!!  This is another one that I did well on.  I know my market backwards, forwards, inside and out.  I knew that I had a good deal.  The tax value on the property was $266,000.  I bought it for $130,000 and was offering it for $150,000.  Repairs were between $22,000 and $30,000 depending on what the buyer chose to do.  Section 8 rents were $3,366 monthly, so the property would not only make a good flip, but would make an excellent cash-flowing rental.

7.  Don't let your buyers change your assignment contract.  If they want to change it, they're probably not going to be good buyers.  I found this one out the hard way when my first buyer backed out.  He didn't like the clauses in his hard money loan either, so he chose not to take the loan, even though the hard money lender's appraiser said the ARV on the property was $300,000.

 All these lessons wound up costing me over $8,000 to learn.  I hope that they help you so your deal goes smoothly!

Step # 5 Offer and Negotiate

In the world of commercial real estate there are many different types of offers and many different types of Letters of Intent to purchase.

We have included some of the most common and most effective forms that we use both on the “REI Property Pro" Forms and Tools CD" you were given along with this manual and at the website in the Real Deal Commercial group.  These forms are all interactive and you can use them to “fill in the Blanks’ if you wish, but….

YOU SHOULD ALWAYS REFER ALL DOCUMENTATION TO AN ATTORNEY FOR LEGAL APPROVAL IN THE STATE/PROVINCE YOU ARE OPERATING IN!!!  WE ARE NOT ATTORNEYS AND DO NOT WANT TO ATTEMPT TO OPERATE AS SUCH!!

TIP: ANY TIME YOU ARE CLOSE ENOUTH TO MAKE AN OFFER IT MAY BE A VERY GOOD IDEA TO USE ONE OF YOUR DEAL EVALUATION CERTIFICATES INCLUDEED WITH YOUR REAL DEAL GOLD OR PLATINUM PACKAGE AND GET YOUR BOARD OF ADVISORS INVOLVED TO HELP YOU!

Step # 6 Raise the Money

Raising money is typically a combination of EQUITY and DEBT. 

There are always a number of different ways to structure financing for any project and it is important to understand what is the best way to maximize cash flow.  An important thing to keep in mind is that Equity partners participate only when a project is profitable and able to pay out a portion of its profits to its investors.

Debt requires payments on a regular basis (usually monthly) and these payments must be paid whether the property is profitable or not. 

It is for these reasons it becomes important to understand that although it sounds great to talk about “No money down” and financing “100%” of a deal: USUALLY, IT ONLY SOUNDS GOOD.

IT IS IMPORTANT TO UNDERSTAND THAT THE VAST MAJORITY OF FORECLOSURES ACTUALLY HAPPEN BECAUSE PROPERTIES (WHETHER RESIDENTIAL OR COMMERCIAL) ARE OVER LEVERAGED WITH TOO MUCH DEBT AND ARE UNABLE FOR WHATEVER REASON TO SUPPORT THE DEBT  SERVICE COSTS OR MORTGAGE PAYMENTS AND SO THE LENDER OF THE DEBT MUST TAKE THE PROPERTY BACK TO TRY TO RECOVER HIS/HER/ITS INVESTED MONEY.

NOTE: MOST PROPERTIES WITH LITTLE OR NO DEBT NEVER RUN INTO THIS PROBLEM!!!!!

THE REAL DEAL PROGRAM SPENDS A TREMENDOUS AMOUNT OF TIME TEACHING YOU HOW TO PROPERLY STRUCTURE FINANCING THAT WORKS!!  THIS WILL ALSO BE AN ONGOING TOPIC FOR FUTURE CONFERENCE CALLS AND WEBINARS.

Many people ask me what it takes to be a success and reach the top in real estate investing.

My answer is always these three things...

1. Work with experts in the business. By working with people who have been there and done that, you will shave years off your learning curve.  You will save thousands of dollars if you work with the right team of experts. Here is a trustworthy saying... In the multitude of counsel victories are won.

2. Be teachable at all times. No matter how long you have been in the industry there is always something new to learn. You will never arrive. Those who think they have are about to reach a nasty landing.

3. TAKE MASSIVE ACTION!!! Too many people say and very few people DO. If you want to be a success in real estate you must take action and never give up. You will face barriers, make mistakes and struggle in many areas. However, if you keep pressing forward and learning from your challanges you will reach success in real estate.

This student is an example of people who take massive action. I hope you enjoy. Success Stories

Rick Melero

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