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Vista California Real Estate Investment Training
Bruce and VIctoria Fletcher
Getting the Fletcher's Organized and Rocking
Day One September 29, 2008
9:00 I arrived at Victoria’s real estate office and we began discussing the plans for the week ahead.
9:30 I immediately started to have Bruce Post Craigslist ads for Buyers, Sellers, Wholesalers, Private Money, and notes. I showed both Bruce and Victoria how to edit and repost the ads.
10:30 We pulled a Private Investors List of emails from Victoria’s list of business cars. I then worked on completing a email blast and sent out email.
11:30 Pulled list of realtors off of MLS and worked on placing them into usable form. This took a while as we had to put a list of realtors into a PDF file and then pull the info into excel. I was able to get a list of 385 realtors in the area.
12:00 Bruce received a contact from their website directed from their Craigslist ad. They have had websites for over 2 years and this was there first official lead off of it. After discussing the lead, I worked with Victoria on pulling potential properties for owner financing leads.
12:30 Sent out first batch of realtors email that we pulled from the MLS. We were only able to send the first 100 due to Victoria’s Yahoo account settings.
2:00 Worked on sending out second batch of emails (2nd 100). We also called the lead from the website and visited with Cynthia and Kevin who were trying to sell a 2/2 condo. After visiting with them, we pulled comps to find out that the property was way overpriced for the existing market.
3:00 Worked on structuring private investing for long term holds and what we would have to sell the property with owner financing at to cash flow. I had Bruce and Victoria work with their calculators to identify payments, numbers, and yield.
4:00 Victoria had a friend stop by the office to discuss working with them. I interviewed Olivia about becoming assistant to Victoria and Bruce in regards to private lending, short sales, and bird dogging deals.
5:00 Called lead from email earlier and spoke with Cynthia and Kevin homeowners about owner financing property. They were up for scenario.
6:00 Worked on Daily Journal and called it a day.
Day Two Tuesday, September 30, 2008
9:00 I arrived at Victoria’s office.
9:30 I had Victoria pull comps on the property on Ascot that we received from their website and Craigslist posting. After this I pulled a list of 17 hard money lenders in California and we reviewed their websites or called them to see if they were lending off of ARV or purchase price and if they would fund note purchases.
10:30 Victoria received phone call from her Penny Saver ad. The seller was an elderly gentleman who had $15K for a down payment and was looking for something that would be under $1000 a month. Victoria and I discussed how she could find something for him (probably a mobile home), but that she could still make some money off of them.
11:00 I spent a good amount of time showing the Fletcher’s how to structure some of their owner financed buyers. Along with that, I was able to get the last of the realtor/owner financing email sent out to the last of the list.
1:00 We arrived back from lunch. I pulled 31 foreclosed homes off of Countrywide REO’s website for Vista and San Marcos.
2:00 Victoria received another phone call from her Penny Saver ad
3:00 We received a phone call from a realtor from the owner financing realtor email. I spent some time (on speaker) discussing what we were looking for.
4:00 I had Victoria start to pull comps on the REO properties to make offers on. This took here a while and I had to take quite a bit of the time showing her how to use the MLS system in San Diego.
5:00 Bob’s conference call
7:00 Called it a day.
Day Three Wednesday, October 1, 2008
9:00 Arrived. I worked with Victoria to pull comps on some more properties. We discussed what we would look for and where.
10:00 We reviewed a couple responses to Victoria’s email blast and I called them back. The agents had a few questions and I discussed with them about what we were looking for (with Bruce and Victoria listening in).
1:00 I had Victoria call each of her existing buyers to double check their down payment amounts and price ranges. While she was doing this, I was working on reviewing some ways to pull properties in the MLS to show her and Bruce how to do this.
2:00 I reviewed the local postings on Craigslist with Bruce and we send out over 30 emails to postings inquiring if the sellers were interested in owner financing. I copied a simple script for Bruce to use on a regular basis that was generic but informational enough to get qualified contacts.
3:00 I received a phone call from Randy, a mobile home salesman, who had received one of my emails and he had several properties available for Victoria to go look at for her buyers. We set an appointment with them early the next week.
4:00 I worked with Bruce and we pulled over 200 properties in Vista, San Marcos, Oceanside, and Escondido that were at $100-200K. The mass majority of them were short sales or REO’s. I was able to identify 20 listings that we could call the following day for potential owner financing.
5:00 We discussed some of the marketing that we had done through out the week and reviewed with Victoria why and when to do.
6:00 Wrapped up the day by completing the Daily Journal.
Day Four Thursday, October 2, 2008
9:30 I arrived at Victoria’s office. Bruce had repaired most of the computer problems. My goal for the day was to help get her buyers in order. We went through her entire files along with her contacts to organize and identify what each person had for a down payment.
10:00 Victoria called her existing client base.
11:00 I had Victoria work on finishing up some of the contracts. This took her a bit of a while to do as each contract was 14 pages long. She needed some help reviewing the comps again, so I took some time to help her.
1:00 Once we got back from lunch, I helped Victoria finish up the contracts and fax them into the listing agents.
3:00 Bruce had to leave to pick up their daughter. While he was gone, Victoria and I roll played with her asking questions afterward to get herself more familiar with concerns. We did this for a while.
4:30 Victoria had to complete some work, and so I spent the next 90 minutes reviewing the Craigslist ads and seeing what was left available online as far as available deals.
6:00 We wrapped up the day by completing the Daily Journal and Mentor Evaluation. Lane McGhee arrived at the office and we headed out to the Fletcher’s for a wonderful dinner.
10:00 Arrived back at the hotel.