http://www.REIClub.com – Attracting Private Money Lenders To Your Real Estate Deals Is Easy If You Have a Professional Credibility Packet to Show Your Private Lender…

Hi, this is Frank Chen with REIClub.com, the only site you need as a real estate investor. Today I’ve got quick video on using credibility packets to attract private lenders for your Real Estate Investments.

Biography:
- Quick Bio of Self
- Picture, real estate experience, deals you have done?
- Do not spend a lot of time on yourself, no one really cares

Property Analysis

- Property of Interest:
- Property Comps – get them from realtor – MLS – Houses sold in past 90-180 Days
- similar in sq.ft and neighborhood/subdivision
- Highlight – Address, list price, sq.ft., year built, realtor remarks
- Location – Quick description of neighborhood, schools, malls, near highway, etc.
- Include graphs if you want to show market trends
- Pictures of interior – carpet, kitchen, bedrooms, flooring, appliances (hot water heater)
- Pictures of exterior – siding (brick or wood), backyard, fence, roof, external units
- List of repairs – itemize cost

Profit Analysis – What’s in it for the Private Lenders?

Break down the numbers

- List Price = $100K
- After repair value (ARV) = $120K
- Repair Costs = $10K
- Taxes/Insurance = $3K
- Closing = $5K – Unless seller takes closing cost
- Total costs = $18K (deduct from list price)
- Starting Cash Offer – $80K
- Return on Investment (ROI)
-offering 3 points at closing = $3600
– Include interest rates – in case deal runs long
– emphasize how the ROI is much better than interest from the bank or IRA account.
- Exit strategies

Additional Information:

- Title company you will be working with
- Timeline – Project completion date – include repair timeline
- Contact information
- Contract Agreement

Building credibility among your private money lenders is essential to securing continued funding in the future. You have to remember that you will most likely be asking people, with virtually no real estate investment background, to give you large amounts of cash for something they know nothing about. So it is your job as the investor to inform them, and make them feel comfortable enough to trust you with their private money. Credibility kits are cheap in cost but great in value. A binder, some dividers, pictures, you are probably looking at around $5-10 dollars for a complete package. All the other information you are providing is FREE.

Again, this is Frank Chen with REIClub.com. Please take the time to leave your comments for this video below and please subscribe to our YouTube channel so you’ll be automatically notified when we upload more quick video tips for you. Take care and good investing.

Duration : 0:6:9

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http://www.REIClub.com – Is a Real Estate Mentor Necessary To Be Successful As a Real Estate Investor? Here’s How You Can Decide If Real Estate Mentoring Is Right For You.

Hi, this is Frank Chen with REIClub.com, the only site you need as a real estate investor. Today I’ve got quick video on Real Estate Mentors and if it’s right for you.

Many investors contemplate whether or not they need a Real Estate Coach in order to succeed in real estate, but in order to decide, you need to first ask yourself these questions:

QUALIFYING YOURSELF:
- Are you investing passively, or looking to make this into a full-time career?
- How much time/money have you spent on your real estate education?
- What are my goals as an investor?
- What is the one thing I want from real estate investing?
- How familiar am I with the current real estate market?

BENEFITS TO REAL ESTATE MENTOR:
- Accountability – schedules, weekly goals, form successful habits etc…
- Focus – Stay focus on tasks, help manage your emotions
- Guide you step-by-step through the purchashing and selling process
- Learn from their experiences
- Multiple ways of approaching offers
- Structuring Contracts
- Marketing and lead generation
- Negotiating
- Structure Closings
- Exit strategies
- *Business systems
- Access to Contacts – title companies, realtors, brokers, lenders, contractors, etc…

As you can see, coaching covers 99% of the Real Estate Investing process, and whether you are new or experience, you can benefit from it.

QUALIFYING REAL ESTATE MENTORS:
Establish credentials.
- How long have you been investing? – cycles
- What’s your specialty?
- Is the mentor actively investing or just coaching?
- How many transactions has he completed? Recently? – verifiable properties
- How many students do they currently have?
- Whats the average time it takes for one of your students to purchase their first deal using your program?
- Do you have students I could contact?

COSTS FOR REAL ESTATE COACHING / MENTORING:
- Costs can vary – coaching programs can range from hundreds of dollars to several thousands.
- Frequently paid ALL upfront
- Monthly Installments
- Half now/Half at closing – portion of closing goes towards remaining balance
- Partnering – split profits

Every mentor differs in how they structure payments so be sure to research and choose whats most manageable for you.

I hope this video cleared some of the fog up about Real Estate Mentoring. There are tons of real estate coaching programs out there, and it is incredibly easy to get lost in the mix. Use these tips, do your research, and find a program that fits your needs.

Again, this is Frank Chen with REIClub.com. Please take the time to leave your comments for this video below and please subscribe to our YouTube channel so you’ll be automatically notified when we upload more quick video tips for you. Take care and good investing.

Duration : 0:5:24

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http://www.REIClub.com – Wholesaling Real Estate Is A Great Investment Strategy For Beginner Investors. Here’s A Quick Video On How To Wholesale Real Estate For Quick Profits…

Hi, this is Frank Chen with REIClub.com, the only site you need as a real estate investor. Today I’ve got quick video on what wholesaling is, and how to profit with it.

Wholesaling real estate provides an opportunity for someone to build income with little capital or credit, by simply buying below market value and selling below market value.

Wholesaling real estate (aka – flipping)
- Don’t take ownership of that property.
- Assign the contract to another (end) buyer – close deal in your place.
- Very low risk – little or no money down!
- Usually sell to to investors with cash, lines of credit, or hard money loans = quick closings

Some investors call it “wholesaling real estate” others refer to it as “flipping properties.” Regardless of the term you use, you can make quick cash from properties you don’t own.

Step 1: Finding Distressed Properties
- Resources – Real Estate Clubs, Auctions, MLS, realtors, FSBO, Craigslist, etc…
- Profit Margins – Is there room to make money?
- Deposit – amount ranges, but indicates serious buyer
Example:
- Retail Market Value – $100,000 (fixed)
– Negotiate price down – $60,000
– Repairs – $10k-$15k
– Wholesale Price – $65,000
– YOUR profit = $5k Investor Profit = ~$20k

Step 2: Build Buyers List (refer to cash buyers video in channel)
- Ads (annotation) to show example
- Send Offer Details to Buyers list.
Handy, investor special Great deal for rehabbers!
555-555-5555
OR
Investor special
Thousands below market–Won’t last!
555-555-5555

Step 3: Ways to Close (and profit)

Assignment
– Name – buyer section you put your name (or your companies name) and/or Assignee. This gives you the right to assign the contract to another buyer for a fee.
– Title – give the title officer (or Attorney) the purchase contract as well as a one-page assignment form showing you assigned your interest in the property to a new buyer. That assignment form will display whom the new buyer is, the amount of the assignment fee, as well as how payout should occur.

Double Close
– use the back-end buyers funds to pass through you and pay off the original seller!
– Traditional Close with Transactional funding
– same Transactional Funding you would for a Short Sale or REO flip or find a good hard money lender in your area and close on the deal.

Summary, CTA
As mentioned before, wholesaling / flipping real estate allows people with little credit and capital to ease into the real estate business. You are simply the middleman who collects a fee for finding great investment deals. The reason why I say this is a great strategy for new investors is because there is low risk, you get to learn the business, and you make money in the process. I would say this strategy is the most basic, easy to learn, and easy to apply. Essentially, you are getting paid to learn, pretty cool right?

Again, this is Frank Chen with REIClub.com. Please take the time to leave your comments for this video below and please subscribe to our YouTube channel so you’ll be automatically notified when we upload more quick video tips for you. Take care and good investing.

Duration : 0:5:30

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http://www.REIClub.com – Are Property Managers Better Landlords Than You? Here’s a Video on the Pros and Cons of Using Property Management…

Hi, this is Frank Chen with REIClub.com, the only site you need as a real estate investor. Today I’ve got quick video on the Pro’s and Con’s of using a property management company.

Accredited Certifications:
Institute of Real Estate Management (IREM)

– Certified Property Manager (CPM)
– Accredited Residential Manager (ARM)
– Accredited Commercial Manager (ACM)
– Accredited Management Organization (AMO)

What do Property Managers do?

– Collecting and Depositing Monthly Rent Payments
– Control Rental Rates – based on market trends
– Marketing and Advertising
– Inspections
– Tenant Screenings

Pros:

– Time Management – property manager takes care of the routine daily tasks, you are free to focus on other investments and/or your own career.
– Remote Locations – manage properties in a different locations
– Access to Professionals – vendors, contractors, etc…
– Housing Regulations and Property Law

Cons:

– Overall lack in control
– Profit margins – Because they are paid based on gross income, they will not manage the bottom line properly. ie. net income.
– They will never dedicate the energy to your property that you would.
– Money (or CON) – property managers charge a percentage of the monthly rental rate which can range anywhere from 6-10%.
– frequently keep late fees
– may make margins on repairs
– no control over quality of repairs
– no control over who does repairs (family member, friend of mgmt co)
– no incentive to reduce or eliminate repair costs
– no access to own property – usually only they have key

As you can see there are many reasons for both the Pros and Cons, but i’ll have to say that the safest way to manage your own property is yourself. I want you to see property management as a tool and a resource, not a necessity. Evaluate what kind of business you are running, if you have 5-10 houses, I say manage them yourself, anything more than 10 I would consider looking into hiring a Property Management company.

Again, this is Frank Chen with REIClub.com. Please take the time to leave your comments for this video below and please subscribe to our YouTube channel so you’ll be automatically notified when we upload more quick video tips for you. Take care and good investing.

Duration : 0:3:49

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http://www.LiveRealEstateInvestor.com Real Estate Investing Negotiations at its finest.

Duration : 0:4:10

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