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Las Vegas Buying Tour Wrap

Updated on June 28, 2011

Lorena Gerlach here in Las Vegas with the Real Estate Profit Coach gang: Bob Leonetti, Jayme Kahla, Roland Frasier, Scott Carson and Jason Schubert to purchase properties for our own portfolio and wholesale a few deals to pay for our trip. We are joined by our 10 residential inner circle students who will be working with us on these deals: Brent Tyler, Ilene Durbin, Jackee and Ron Benson, Rosemary and Ray Miller, Sandra and Bill Graves, Jeremy Streeter and David Meier.

Our Meetup email blast did not result in much activity so we decided to divide and conquer using other techniques. It’s important to have multiple tools in your tool kit! Part of the team continued working on live leads for wholesale opportunities or SubTos. One of our team members is fluent in Spanish. I had her post Craigslist ads in both English and Spanish for properties to buy and soliciting buyers. I had another team member get a local newspaper and call on FSBO ads in the classifieds. I’m happy to report that we were successful in all our methods this time around!

Our efforts resulted in meetings with two homeowners. We had three offers for each homeowner: a cash offer, an owner financing offer, and the last resort was to option the property to see if we could match it up with one of our buyers. One homeowner in particular was memorable. We nicknamed her Vegas Rose.

Vegas Rose is 74 years old, and her husband is 86. They’ve moved to a new home and have been trying to sell their previous home for 2 years. It’s a half hour drive one way for them to show the house. The husband is resistant to sell for anything except full retail and the home isn’t retail worthy. She is tired of dealing with the problem and is anxious to work with us. We developed rapport with Vegas Rose and believe she’ll work on her husband to get the deal done. We would love to help the couple out, and add the home to our portfolio, even if it means follow up after we leave Vegas.

We decided to call Pizza Hut to have lunch delivered to the hotel. I called the order in, and spoke with a wise cracking order taker. After a bit of back and forth, I asked him if he wanted to come work with us in real estate. He asked if we were looking for homes, and he could have someone contact us. The Pizza Hut contact turned out to be one of the largest REO listing agents in Las Vegas! Always be selling! Have that elevator speech ready and available. You never know where a lead will come from. We had a great meeting with the REO agent and team in his office, and they are willing to provide pocket listings before they hit MLS. Booyah baby!

All three teams rejoined, and my room at the Golden Nugget became a hub of activity. My team’s activities resulted in a SubTo and potential buyers. Inner circle student and Nevada real estate agent Brent Tyler began writing offers on short sales and REO properties identified by Coach Scott Carson’s team. Coach Jason Schubert’s team had multiple SubTo’s opportunities, and took the lead on all SubTo’s to close.

Our time in Las Vegas resulted in 62 identified properties which include 10 SubTo’s and a combination of REOs and short sales. We have a lot of follow up work that will be coordinated between Scott, Jason, Brent and myself for several weeks as we work through offers, counter-offers and hopefully several closed deals! Check out my future blogs for results!

Walking a property.
Walking a property.
Jason at work.
Jason at work.
Thank you note from students.
Thank you note from students.

Property Discussion


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