Fort Collins Real Estate Investment Coaching
Real Estate Investing In Fort Collins
Day One Tuesday, October 14, 2008
9:00 Arrived. Made a list of local real estate clubs (2) and hard money lenders (13) that would lend in Colorado.
9:30 I had Carl make phone calls to Roger Myatt, Kimerly at the title company, Jan Bertholf, realtor.
10:00 I had Carl post two Craigslist ads. One for notes and a second one for Private Funding. We located one semi private lender, Bruce, and we interviewed him on the phone and sent him an email to discuss his programs and see if he would fund on the purchase of notes.
11:00 Scheduled 2:40 meeting with Roger Myatt, Mortgage Broker, and he also has a potential deal for us.
12:00 Lunch at Denny’s
1:00 We arrived back home and researched the two Real Estate Clubs (times, costs, benefits, location). After doing this, we call a coupe hard money lenders to see if they had any defaulted notes or REO’s after reviewing their websites.
1:45 Received phone call from Kimberly with Guaranty Title and set up appointment to meet with her tomorrow at 11:30 am at 370 E Horsetooth.
2:30 Met with Roger Myatt at house. Roger had some private lenders for us to work with along with some potential REO’s and other investments across the country. He also recommended we talk with his son, Shannon Myatt, a realtor and local investor. We discussed several scenarios and that Roger would be glad to pre-qualify and work with home owners to correct their credit.
3:15 Called and spoke with Shannon Myatt. Set up appointment for following morning at his home/office at 9:30 to discuss REO’s and investment properties.
3:30 Called and spoke with 12 hard money lenders that lend in Colorado off of REIclub.com to find defaulted notes and REO’ Spoke with four bankers who had tapes that they would send out to us to bid on.
5:00 Wrapped up the day by completing the Daily Journal and discussing the day at hand. I gave Carl some homework to review the items in the mentor binder to familiarize himself with other terms and investment strategies.
Day Two Wednesday, October 15, 2008
9:00 Arrived at Carl’s and we headed off to meet with Shannon Myatt
9:30 We arrived at Shannon’s home office and visited with him regarding him being mortgage broker and real estate agent. We discussed the local market along with what he specialized in as more of a buyer’s agent. We discussed with him our strategy for buying, and closing with simultaneous closings (RL Strategy) to be able to wholesale properties in a timely fashion with little or no liability. We had him pull a list of short sale and REO properties that had been on the market for a period of time and had him email us the list.
10:30 Headed out to meet with our next appointment, title agent Kimberly Simmons.
11:30 Kimberley was wrapping up a closing and we visited with her for around 30 minutes. Her company would perform simultaneous closings, short sales, subject to’s and she was a wealth of knowledge as well. She even took us out to lunch.
12:00 Lunch with Kimberly
1:00 Arrived back at Carl’s where we reviewed emails. We pulled up Shannon’s emails and reviewed the short sale and REO listings to make potential offers on. Along with this, we also resent an email to the 4 hard money lenders who had promised to send us stuff and had one quickly respond with a small commercial note in Logan, UT, which we asked to review the file on.
2:00 We also tried to pull up the acreage and potential apartment deal that Roger had discussed with us the prior day, with no success as to find the address.
3:00 We pulled up a list of Colorado Exempt bankers and started researching their phone numbers on Lane Guide (35). While doing this, Carl reviewed the private lender part of the mentor manual. We also sat down and reviewed the short sale listings that Shannon had set as well and discussed possible strategies for wholesaling leads and working as a birddog.
5:00 We wrapped it up for the day.
Day Three Thursday, October 16, 2008
9:30 I arrived at Carl’s. I received a phone call from Gentry Perkins with Hawkins Capital who had a tape of defaulted hard money loans that he was looking to get rid of. I reviewed the tape with Carl to show him what a tape was and then we sent them to Jayme Kahla for her review. I also sent an email to Gentry to answer a couple questions regarding questions that Jayme had.
10:30 After discussing the pool, I had Carl print up the script for calling mortgage bankers and review it while I worked on finding phone numbers for an exempt list of mortgage bankers that I pulled for the State of Colorado’s website.
11:30 I had Carl email Kim Simmons to request a list of foreclosures and NOD’s here in LarimerCounty. I had to walk him through how to send an email and how to address them along with some basic computer information.
1:00 I Roll played with Carl on calling mortgage bankers for notes with the scripts and then we called 20+ mortgage bankers (primarily credit unions and banks). We were able to speak with 8 secondary or warehouse managers and had two of them promise to send us some notes in the area.
3:00 We received a foreclosure list from Kim Simmons. We cut the list down of over 600+ foreclosures to around 20 that were nearby where Carl lived instead of having him drive the 90 minutes to Denver for the mass majority. Lorena Gerlach called and she wanted us to review a REO/Note tape that Sal Buschemi had sent her during her 1:1 in New York, so I took the time to show Carl what another tape looked like and how they could price the tape on a one off basis.
4:00 I printed out and had Carl review the Yellow Letter Marketing System for him to use to attract foreclosures. Along with that, we also emailed Kim Simmons to find out if she knew of someone who was actively pursuing short sales in the area that Carl could birddog them to on a regular basis for a fee.
4:30 We got ready to leave for the Real Estate Investment Club in Longmont.
6:30 Attended Boulder County Real Estate Investment Club in Longmont, CO (30 minutes south of Fort Collins). Listened to a speaker on buying and selling REO’s. He was selling his two day boot camp for $1495.
Day Four Friday, October 17, 2008
9:00 I arrived at Carl’s home.
9:30 We received email from Kimberly regarding short sale expert, Tamara Daily. I had Carl send Tamara an email to have her call him to set up an appointment to have him forward his short sales to her.
10:00 We sent out emails to the BCREI club members that we met the night before. We also printed and reviewed the REO listings and selected 10 properties for Shannon to make some offers on after running comps.
11:00 We roll played using the property information sheet to help Carl with phone calls from his yellow letter marketing.
1:00 We arrived back from lunch and roll-played some more on phone calls, etc. Carl’s phone rang and it was Tamara (from Tamara and Bruce; previous 1:1 students from Loveland, CO). We arranged to meet for dinner later that night and introduce everyone.
2:00 Started to work on Carl’s Marketing Plan. We came up with weekly and monthly marketing plans of action. We also went over conference call schedule and discussed him calling in on a regular basis. I spent about 30-45 minutes working on his computer and address book so that Bob’s emails would arrive in his inbox.
3:00 We worked on specific installation of his marketing plan and working around his existing schedule.
4:00 We wrapped up the day by completing the Daily Journal and Mentoring Evaluation.
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