“HOW YOUR TRADITIONS ARE KEEPING YOU FROM CLOSING DEALS” Traditions vs. Transactions.

“HOW YOUR TRADITIONS ARE KEEPING YOU FROM CLOSING DEALS”

Traditions vs. Transactions

How To Bake a Cake

Which cake do you want?

What Comes First?

Recipe (strategy)Ingredients (tools)Utensils and technique (tactics)

Do you need all of them?

Possessing one of these things in abundance can set you up for success

You must be willing to share your success with others

You must be willing to act EVERY DAY You must expect your fair share

Start with the END in mind

Strategy (Recipe)

Rehab & FlipBuy & HoldWholesale

Tools (Ingredients)

CashCredit (access to loan money)TimeSkill set (contractor, mortgage pro, realtor)ContactsSocial media

Tactics (Utensils & Technique)

Absentee ownersDefaults (NOD list)MLS listingsDoor knockingAuctionSubject to…Landlords

The Offer (mix up the batter)

Combine your tools, tactics and strategy in a mixing bowl

You can use any/all that you want but you MUST have all three

This will result in the OFFER Accepted? Move to the oven and watch it

bakeRejected? Back to the kitchen to make

another offerCountered? More icing, less icing, different

flavor, more layers

Ugly fourplex, found with a letter to absentee owners

Rents = 2700

Expenses = -810 (30%)

Before Debt = 1890

Debt service = 1082 (piti)

Net rents = $808

Offer = $128,000 (owed)

Down = ZERO

Repairs = $14,000

Term = 26 years

What did the seller want? Relief!

BACK into your offers

What is your exit strategy?It WILL take longer than you thinkAre you looking for PRICE?Are you looking for monthly CASH flow?Who is your target buyer/tenant?

“Black hole” out of State owner

Rents = 2000

Expenses = 600 (30%)

Before debt = 1600

Debt service = 782 (piti)

Net rents = $818

Offer $144,000 (owed)

Down = $14,400 (10%)

Repairs = $2400

Term = 25 years

What did the seller want? OUT!

An offer a day

This is your discovery processIt can be done on a single pageYou can write them and stick them in a

drawerYou cannot eat cake unless you mix the batter

Will you do it?

I don’t have any timeI don’t have the right formI don’t know enoughI don’t have any money

Success

Do itDon't do it