All Forum Posts by: Jason Malabute

@Jason Malabute

Funneling potential leads is a crucial function in your pipelinle. Using an agent might work if you plan on using them to do all the contracts but that is a large % to give away on all your deals but might make sense if they are a true partner on your team. Or you could consider a call center like Pat Live to field your incoming leads. 

Instructing an agent to do cold calls might not bring the results you seek because most people struggle with cold calls and do not have the skillset of learning how to listen for signs of distress and motivation. 

 Trial offers can be made off or on market. Your goal is to create for yourself cash flow or equity.

A Trial Offer is what you make on the phone before looking at the property - your goal is to reduce the price by verbally making a Trial Offer - you need to determine what the seller's base line is before making an appointment to view the building.

"Mr. Jones, I know you said you'd like $100,000, and thank you for all the information you supplied me today, if we could make you a cash offer and there would be no commissions or settlement cost, could you accept $80,000?" Seller may say NO, but would accept $85,000 --- so that's good - you've reduced the price by $15,000, your trial offer was successful.

The next step is Second Stage Negotiation, you've made an appointment, you got your comps, you have a fair idea of value - after inspecting the building you'll certainly find other deficiencies that you can negotiate for a lower price - at that time you make an offer that suits you.

Pull out your Skinny Contract of sale and write it up - if the transaction is done right using the right clauses you should be able to control the building with right of possession and the right to market - now go find an assignee to flip your contract to.

You don't need to wait until 2019 - that's too far in the future - START NOW - learn the skills it takes to make money in real estate - do it NOW don't wait ----

Make Trial Offers now - look at 50 houses - 

I don't know what "1 dimensional" means - I guess you need to be 3-D - go out now and look at real estate- study the market, take some courses - don't wait DO IT NOW!

Who cares what an emerging market is - your thinking is too analytical - go out and look at properties - you are thinking too much about stuff that don't mean a hill of beans.

The only plan you need is how to find cash flow or equity real estate -

Learn creative financing techniques.

Good luck 

@Jason Malabute don't overthink it.  Zero in on a market, Identify your strategy i.e buy and hold/flip etc...And attack it.  Who the heck cares if you've failed at your first deal.  I fail everyday, and I get back up EVERYDAY!!!  There are areas where you can work with sellers directly and deals subject to the current mortgage, land contract(no money down) etc....Don't put off for tomorrow what you can do today.  All the best.  And if your local market doesn't have tons of low/no money down deals look outside.  AMERICA is a huge country!!!!

Turnkey is okay for you if you have no time at all to be and want to be a handfree investor.  It will definitely up your odd in being an unprofitable and unsuccessful investor.  First and foremost, you probably pay far more for the property.  In fact, you will probably pay more than the property is worth.  Then on the repairs, the turnkey property provider, will more than likely overcharge for both legit and bogus repairs.  You need to do some research on the different markets and decide which interest you the most.  After that, a trip is in order to check out that market.  You need to connect with BP members in that market and arrange to meet some of them on your trip to their city.  Find out from them what areas are worth investing and why.  I will meet with at least 3 or 4 of them in order to get a better overview of the city.  Ask them about realtors, contractors, handymen and other tradesmen as referrals.   It is not always smart to only deal with the most successful investors because some of them will view as the competition.  Find those who will be willing to check on a property and the neighbor and give you their opinion of what they saw.  Offer to pay them for doing it for you.  Truly if you can connect with a handyman or 2 who would be willing to go look at the property and give you an estimate of what it would cost for repairs, you increase your odds at being successful.  You need get books on property management which will give you knowledge in what it takes to be a pm and gives you your best chance at being successful.  After you grow your portfolio, you can then hand off to a property manager.  With your experience as a pm, you will be able to pick a good pm.  Location and property management will make or break an investor, especially a beginning investor.  Good luck on your real estate journey.