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Las Vegas Real Estate Investor Training-30 Day Quick Start
A 30 Day Game Plan For Part Timers
One of the last items that we discussed in Las Vegas before Bob Leonetti wrapped up the four day event was an action plan for our students. Roland Frasier and I, spent the last hour going through a 30 day action plan that we divided up into four weeks of work that could be done in 30 days by any part time investor still employed in a JOB. Full time investors should be able to knock this out in two weeks or less.
While some of these items will seem like very basic, these items build upon each other and can help take you to the next level and should all be items of an investors daily activities and marketing plan.
Day one should start off with you researching for your local real estate investment clubs by going to REIClub.com and CREonline.com. These are two of the best real estate websites out there for investors to find. Find at least two clubs to attend and mark them down on your calender or register to attend. You should also go with a plan to meet as many people as possible and network and collect as many business cards and contact info to build your investor and wholesaler list.
Day two is similar to day one. Log onto www.Meetup.com and search for real estate investment clubs and meetups in your area. Along with joining a couple, you should also start your own meetup group and have the group link directly to your money or buying websites. Not only will this help build credibility, but it will help you grow your list of investors and other potential buyers for your investment club.
Day three has you as an investor going to our homepage. www.WeCloseNotes.com and searching for Lorena Gerlach's "How to Use Realtor.com" article. You can also check Lorena out at Hubpages.com by searching for Lorena Gerlach as welll!
Day four is a compilation of day three by meeting with two real estate agents and interviewing them. You can also utilize Craigslist.com and ActiveRain.com to find realtors in your area. You may need to use more than two realtors over time so keep these websites handy as they help you build buyers, sellers, and just about any list source that you will need in your business.
You should wrap up your day five by having you meet with two title and or escrow companies. Title companies are the perverbial "central hub" in real estate transactions and are wonderful sources to find other local investors that are doing deals and private lenders lending money. Don't be afraid to ask for referrals of both from your closing agents.
Spend the weekend building your list of buyers and motivated sellers by reviewing ads on Craigslist along with contacting your agents for short sales and REO listings.
Week two should start off with you compiling a list of your closest thirty warm contacts and contacting them via phone (yes, pick up the phone and call them!) and giving them your best "elevator speech" on what you are doing and don't be afraid to ask for referrals and motivated sellers. You can't be a secret agent in this business and having you practice your elevator speech and conversation with your warm contacts is going to help you when the time comes to meet with homeowners and other investors. Make sure you follow up with a hand written Thank You note to each person you talk to regardless of the conversation.
Day two of week two should have you calling local hard money lenders to find out what their lending criteria is. You should find out what LTV, commercial, residential, interest rate, and points. You should also ask if they have any REO's or defaulted notes or loans that they are looking to get rid of. Hard money lenders will often allow you to put properties under contract and often have great deals for you to look at because of the fact that they are usually only lending at 60-70% of current market values! These are deals that you can easily wholesale or flip to other investors and make money with little to zero of your own money out of pocket. This is something that you should be doing at least once to twice a month as inventory and loans are constantly changing amongst hard money lenders. You can use REIclub.com and CREonline.com to find hard money lenders along with utilizing Scotsman Guide.com to find nationwide and local hard money lenders.
On day three (day eight overall), we want you to open up a Twitter account. Twitter is an online networking messaging service that allows individuals to follow other individuals, along with posting updates and sending messages throughout the twitter community. Create your own twitter account and start searching for others in your area along with other real estate investors and professionals. You will want to continue searching at least one day a week to help grow your "twitter juice" and expanding your online network of investors.
You should reach out and contact two to three mortgage brokers on day four of week two. You will need mortgage brokers to help qualify your potential buyers to buy your deals from you that you can sell conventionally. Along with that, some brokers provide credit repair services to help their bruised clientele list. You should also ask brokers for them to refer their turned down loan clients that are looking to refinance their home to potentially come across some motivated sellers for sub to's, short sales, or potential equity deals. I would make sure and compensate the broker with some sort of referral fee should they refer you business that you end up closing.
Day five of the second week has you getting your local newspaper along with scouring Craigslist.com and FSBO.com to find For Sale By Owners (FSBO). You should call each listing and talk with the seller to find their motivation and potentially find yourself some sub to's, master leases, and owner financing deals. If you make 52 phone calls you should come away with an average of around four potential deals. You have all weekend to make your phone calls!
Week three starts off with you going to Animoto.com and setting up a free account. You will want to utilize this account to help create virtual tours of your potential homes. You might want to upgrade to a advanced account for $30 a year which will allow you to create longer videos. Check out a sample Animoto account below! You will also want to set up a YouTube account if you don't have one already so that you can upload your Animoto videos online so others can view your properties.
You should then go to Backpage.com and set up a personal account there on day two of week three. Aftter setting up your account, you will want to post a buyer's ad as well. This will help you to start creating a buyer's list for your potential deals. You will want to make sure and post your ads to Backpage on a regular basis and advertise multiple exit strategies to make sure that your properties move quickly, whether you wholesale, rent, lease option, owner finance, or conventional sale.
The next day you will need to post a seller's ad to Backpage.com. You should start advertising any deals that you may have under contract via from your hard money lenders or potential FSBO's that you can potentially wrap.
On day four and five of week three, set up another online classified account through Kijiji.com account and set up your buyer's and seller's ads online. The reason that you want to create seperate accounts is to maximize your online presence and give you numerous possibilities to be found and have your deals marketed on seperate sites.
In week four, the first two day are filled with you creating a Craigslist account and you posting your seller's and buyer's ads. This should be relatively simple for you to do at this point. At the same time, you should also be reviewing posted ads on Craigslist for other deals, team members, and private money. While posting a Craigslist, on top of a Backpage and Kijiji ad may seem like overkill and become tedius and boring to do everyday, day three will solve that.
Day three of week four, create yourself a Postlets.com account which will allow you to post your buyer and seller's ads all in one place at one time. Postlets combines all of these websites (along with several others like LindkedIn, FriendFeed, and Facebook to name a few) and allows you to delegate your postings in just a matter of minutes.
After creating a Postlets account, go to Ebay.com and sign up for an account to help list your homes for sale. Ebay ranks high with internet search engines like Google and Yahoo and this should give your listings some extra "umph" when listing them for sale.
The last day of week four, you will want to combine the contacts from your networking at the different investment clubs and MeetUp groups along with your warm contacts into a database. With this database, you will want to send out an email blast to this database asking for referrals for private money. It is important that you ask your contacts indirectly or referrals that they might know who are looking to invest their money in real estate backed investments. You should hopefully have several deals that you can advertise at this point that you have under contract. Make sure that you do not judge anyone on your contact list as not having money as you will never know who has what or who knows who. Often times people will suprise you by showing up with money that you would have written off to begin with.
This brings you to the final weekend of the month. Utilize these days to evaluate deals, sign contracts, along with following up with leads if you are working full time. As you can see, many of these items build upon one another to allow you to be able to build your marketing plan step by step. It is important that you follow these steps by step starting out to ensure that you build an even kilt marketing machine for your real estate business. By doing this, your phone and email should be full of deals rolling in constantly along with the funding behind them.
Sample Animoto Video
Websites For Your Marketing Plan
- Real Estate Investing - Investment Articles, Forums, Clubs
Real Estate Investing Strategies, Tips and Techniques For Real Estate Investors.
- Creative Real Estate Online | Real Estate Investment Information
This is THE place to find anything & everything you want to know about real estate investing. Tons of FREE real estate investment articles, forums, & information--for beginners and pro's. Come network with us!
- Do something, Learn something, Share something, Change something - Meetup.com
Helps groups of people with shared interests plan meetings and form offline clubs in local communities around the world
- Real Estate Investor Training How To Invest Real Estate Private Money
Real Estate Investor Training and Coaching step-by-step take action find deals, private money and get paid.
Discover real estate listings and homes for sale on the world's largest real estate database – REALTOR.com® The Official site of the National Association of REALTORS®.
- ActiveRain Real Estate Network
- Scotsman Guide: The Leading Resource for Mortgage Originators - Scotsman Guide
Wholesale Mortgage Lender Search, Mortgage Lender Matrixes, Articles and More!
- Twitter: What are you doing?
- animoto - the end of slideshows
Animoto videos--music videos for your images and pictures. With high production value motion graphics synchronized to every beat of your music, Animoto videos blow the doors off traditional slideshows; it is time to move past the slideshow and embrac
- Free classifieds - backpage.com
Free classified ads with photos. Find houses and apts for rent, personals, jobs, cats and dogs for sale.
- Kijiji USA Free Classifieds - Post & Search Free Classified Ads
Free Local Kijiji Classifieds. Search and post classified ads in For Sale, Pets, Jobs, Apartments, Housing, and other categories.
- craigslist classifieds: jobs, housing, personals, for sale, services, community, events, forums
craigslist provides local classifieds and forums for jobs, housing, for sale, personals, services, local community, and events
- postlets | home
- eBay - New & used electronics, cars, apparel, collectibles, sporting goods & more at low pri
Buy and sell electronics, cars, clothing, apparel, collectibles, sporting goods, digital cameras, and everything else on eBay, the world's online marketplace. Sign up and begin to buy and sell - auction or buy it now - almost anything on eBay.com
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