All Forum Posts by: Jason Pinkerton

@Jorge Rosales, I've used REIBB for a couple years now and it's great. It's good as a newbie CRM/Marketing Tool/Domain Hosting/Website Builder/Landing Page Builder and I think maybe the most important thing is they have a private FB community that, like BP, is DEDICATED to answering all your newbie questions. The CEO himself often answers questions directly within an hour or two (I guess he never sleeps). 

I think of REIBB like an Android phone. It works great out of the box, but you can also customize the crap out of it so you can use it as a newbie or scale it to a multi-million dollar enterprise. So, if you're concerned about scalability, don't be. If you're worried about being too new, don't be. They have TONS of resources to get you started. 

The biggest problem I see with new folks to REIBB is they have just purchased a massive tool box and see all the tools and get overwhelmed by the capability and then try to use all the tools at once. Start small. REIBB will do your marketing for you: Ringless Voicemail (careful doing that in Florida though, not 100% legal), Direct Mail partners, multiple phone numbers with full automation (voicemail, auto text reply, auto ringless voicemails back--like a callback, and much more). Again, it has SO MUCH you can do with it that it's very easy to get overwhelmed. It's kind of like BP, it seems very overwhelming in the beginning because there is so much information, but that doesn't detract from its great value. 

So, to the newbies, just go to https://support.reiblackbook.com/hc/en-us (after you've logged in) for the instructional videos. Note: that is the link at the time of this post; if you're reading this months or years from now, the link may be different. 

Not really real estate related, but sharing the love. I have FREE Platinum Level tickets to an event with Tony Robbins, Kevin O'Leary, The Diesel Brothers, which also includes lunch with Shark Tank's Kevin O'Leary.

It's short notice but it's on March 6th (this Wednesday) and it's in Houston, Texas. I will give it for free to the first person who hits me up about it. No gimmicks, I just can't go and would hate to see it go to waste.

For fastest response, send an e-mail to Jason @ GTGHomeSolutions . com.

Details:

March 6th, 2019

Toyota Center

1510 Polk St

Houston, TX

8:00 AM to 6:00 PM

Platinum Ticket Info:
1. $497 Value
2. Platinum Seating Level (On the floor)
3. Tony Robbins Online Course
4. Priority Check-In
5. VIP Lunch and Q&A with Kevin O'Leary

I'm seeking a business partner to help me manage my business. Before describing precisely what I'm looking for, here's a quick description of me to save us some time on the phone or e-mail and so you know if you even want to work with me. I'm very entrepreneurial minded, always trying to solve problems. I'm a visionary, extremely creative, outside-the-box thinker and can always come up with a solution to a problem (not always the best solution, but always have one). I'm energetic and highly motivated and very driven. I take action almost immediately, which is a blessing and a curse as I don't always plan things out (working on that, getting much better). I have a hard time staying focused on one task for a long time and prefer short projects that I can fully dive into, but do not require consistent maintenance. I'm a creator and love building systems and processes, but do not enjoy managing them. I like motivating and inspiring people, but do not enjoy managing them (I can, from my military career, but don't enjoy it). I'm looking for someone who's mostly opposite of me. The few things we would share are desiring/demanding excellence and caring for people. We would both do certain things excellently, but they would be different things, but we still demand excellence of ourselves and others. 

My Perfect Business Partner

• Words others use to describe them are: organized, punctual, structured, responsible, clean & neat, detailed, independent, well-prepared, knowledgeable.
• What sets them apart from other managers: Unlike cliche managers who may be called controlling and micro-managers (behind their back), this person is flexible, caring, empathetic, and leads by example. They take pride in developing their subordinates and do not try to “protect their job” by the one with all the answers and micromanaging. They are both a great manager and a great leader. They have very high standards, but they make sure their team has what they need to perform to those high standards.

Some of their attributes are:

• Organized: naturally organized; can think of how things fit into place.
• Structured: enjoys structure, but not overly rigid. Likes to see the process flow and tasks getting completed in an organized fashion.
• Detail-oriented: needs detail; ensures documents are accurate & error-free; feels processes should be designed to prevent mistakes.
• Scheduled: have a set schedule with regularity; plans ahead.
• Focused: sticks to one task until completion; not easily distracted.
• Committed to excellence: high work ethic, which is a reflection of their character.
• Flexible: flexible with change when it is thoughtfully planned & implemented.
• Leads by example: shows people how to perform tasks and ensures understanding; does not micromanage; corrects problems, but does not harp on them.
• Character: character is important to them; has unwavering high integrity; when needed, is more willing to do “the right thing” over “doing things right.”
• Accountable: 100% accountable for their actions; expects the same of others; counsels and corrects mistakes; will fire subordinates if necessary.
• Caring: believes in tough love when needed; puts the interest of the whole over the the individual, but still cares deeply for the people they lead.
• Passion: has passion for what they do; enjoys their work and leading/managing others.
• Empathy: seeks to understand others before making judgement.
• Process-oriented: enjoys refining processes, making them more efficient.
• Growth-minded: They seek to constantly grow themselves and others. 

The full details of my business were intentionally left out, because first I want to make sure you are the right person to work with. However, the summary is that I focus almost exclusively on lease options, finding wanting buyers with bad credit and distressed sellers of good homes (non-disrepair) and use lease options to help them both out. I've built the system to perform all of this, but need help managing it (my weakness). If you are interested in more information, please e-mail me at [email protected]. 

Study, learn to the point you can articulate REI to someone else, then pull the trigger. Don't wait to get perfect, you'll never get there without action. Understand you will make mistakes and that is part of the process. If I could do one thing differently, I would have had a partner, someone opposite of me to balance my actions out. That would have made a world of difference, but I learned my lesson. 

P.S. I'm actually going to be writing a blog soon (Thanksgiving break) detailing all the mistakes I made my first year titled "3 Deals In My First 3 Months: What NOT To Do In Your First Year." I have a LOT of lessons to capture on those first three deals, so stay tuned.

@Tom R. Maybe twice a year for fun and more so because my wife wants to. Before I was married, almost never. But they can be fun at times like this when the jackpots are massive, more so to fantasize about that much money. In that instance, it helps us see what life could be and will be someday and know that we are on our way with REI, but it cant hurt to toss a penny in the well once in a blue moon.

If inventory is low to do buy & holds at wholesale prices, consider looking at lease options. I love em because they work at any point in the market cycle (about to get even better with the market cooling off) and you don't need lending or any capital to do sandwich lease options and if you do get a home at wholesale pricing (70% of value) you can then purchase it with private lending for usually 1% above prime rate to still mortgage it medium term (<5 years) and make a larger profit when it closes. Plus lease options have good cash flow and MY favorite part, no tenant headaches (unlike rentals). That's been my experience anyways, everyone's got their own niche. If you're ever interested in learning more about lease options, I teach it for free to my interns who want to take a crack at it and learn the system before venturing out on their own. It's set up for Florida, but works anywhere once you tweak it to your state (with a RE attorney). PM me if you want more info. 

Bottom line, there's ALWAYS a way to do deals in any market at any point in the market cycle. Don't get too caught up in "I have to do it this way because it's the only thing I know." You'll quickly find after getting started that you'll want to try other areas until you eventually find your niche. You may find it with buy & holds right away or have to bounce around til you find what you love. But DO seek a niche, something you LOVE. Doing a little bit of everything usually doesn't work well for most people. Just take the leap and go for it!

Income Producing Duplex in St Petersburg Florida at $175,000!

Address: 3075 54th Ave N St Petersburg FL 33714

Price: $175,000

Gross annual income: $21,600 ($1,800/mo)

Operating expenses: $3,360/yr (water:$100/mo, management $180/mo)

Taxes: $1,966

Insurance: $900

Details: Recently rehabbed the 2/1, new roof, HVAC, plumbing, electrical, flooring, paint, and more. New paint and flooring on 1/1. Good cash flowing turn-key property. Already have management in place if you just want to collect the check each month. Selling because I'm pulling capital for other larger investments. Sorry, no seller financing on this one. It's off market now, but will go on the market soon (at a higher price once listed with an agent). Best to contact me at . I won't be as responsive on BP.

@Vince Mayer, I do not believe you need to have a real estate license to find a tenant buyer. If you were finding a regular, then yes. But in my lease options deals, I both explain to the owner/seller that I will be subleasing their home to a tenant/buyer. They know up front it is not me living in the home. Because the way my contract is written (by my real estate attorney with a strong background in lease options), I can do this as the investor. My mentor did suggest having tenant/buyers lined up before generating seller leads. His reasoning (and I'm still tinkering with the system on this) was have the tenant/buyer go look for properties on their own and bring back the ones they like. Like I said, I'm still tweaking the system, but my "system" is

1. Generate tenant/buyer leads on Facebook marketplace, sending them to a lead generation website (I use REI Blackbook). It autoresponds to them with an e-mail

2. Follow up with a phone call to the T/B and do some pre-approving

3. If they seem like a good fit, send them to my preferred lender (mortgage broker) who then runs a soft credit pull and gives them a credit repair plan

4. Have my Realtor send them older listings (120+ days) which will be more susceptible to a LO (or maybe owner financing)

5. Once they've found some homes they like, they go look at them. I ask that they bring back 3 homes they're interested in.

6. I negotiate with the seller or seller's agent for the LO, usually offering full asking price. 

7. Once accepted, I provide a contract to the seller and a contract to the tenant/buyer. The contracts are for a lease options contracts with other paperwork and addendums. 

8. I collect a Non-Refundable Option Consideration (NROC). Yes I do this, some people don't like doing it this way, but I do it to help ensure they are serious about buying, which helps the seller and leads to better buyer conversion rates. It is also good for my business to generate capital up front. I credit them the entire NROC towards the purchase of the home when they purchase. I will give them a third of the money back if they meet some simple criteria (so it is somewhat refundable).

9. The mortgage lender follows up with them monthly or quarterly to ensure they are moving forward on their credit repair plan. 

10. They (hopefully) close within 2 years, sometimes 3.

(NOTE: To new investors, it's that "simple" but not that easy. There's a lot to know, please don't look at those steps and just go do it. If you don't understand lease options, seek some mentorship of some kind first. I will, free time pending, teach someone the basics. I'm at present also looking for *one* person to take under my wing specifically on lease options...PM me for details)

As for Joe Crump, I too considered him simply because of his Automarketer. I figured I could have some kid do this for me, which would probably cost me a few hundred bucks a month anyways. If it's not as good as he makes it sound and as you say, then I may stay away. I too have found, like you said, FSBOs and expired listings are good for sellers, Facebook is awesome for buyers. I'm having some luck with older listings, but then I still have to go through Realtors, which can be frustrating...I think I just like the pain of going back and forth with them. Most lighten up after a minute and see the upside. Especially when it's 5+ months old I say "hey you're about to lose this listing anyways, right? Why not pitch this to your seller and still collect the full commission, even if it's 2 years down the road?" Many have the light bulb go on at that point. 

Does anyone happen to have a good Craigslist scraper they like for REI? I'm still small enough I don't mind doing it manually. There's something oddly therapeutic about the repetition for a short while...maybe I have issues. Eventually I'd rather automate the Craigslist scraping/contacting though.

Are you a real estate wholesaler in the Tampa Bay area? Do you have distressed sellers that can't sell to you because they have too high of a mortgage or little to no equity? Why not sell that lead to me? That’s right, rather than simply saying “sorry, I can’t help you” you can pass them to me and I pay you for simply bringing me the lead. My lease option program can help them out, even if they owe more than the house is worth! So, stop throwing away your marketing money and get paid for those leads that don’t work out for you. The best way to contact me is by email at [email protected]. Please don't hesitate to ask questions. The more you understand my program and how it can benefit your business, the more likely you are to want to do business together.

Here are the more in-depth details:

I focus on lease options options in the Tampa Bay area. My requirements for the property type are:

• Single family residence
• Moderate income and up (i.e. no low income or war zones). Middle income preferred. 
• Works best in "desired" areas with a 50% ownership ratio or better. Doesn't have to be hot or trendy, but 50% ownership would indicate a desired area. 
• No more than cosmetic rehab or updates required the major areas (i.e. no major rehab to HVAC, roof, electrical, plumbing, foundation). Meaning I can lease it as a minor handyman special, not a major rehab. This works well for those that cannot afford as much and are willing to put in some sweat equity to own their own home.
• Typical fee assigned will be between $500 and $1,500 (potentially more on higher income properties, but take slightly longer to finish the deal). The amount paid will be based on how much information you provide on the house and if you have done any diligence on verification certain items. Basically, the more you can provide, the more I'll pay for saving me research time. If you simply provide a phone number and address and that's it, you'll be paid $500. The assignment fee paid once I have it under contract. 
• I use my own lease option contracts, so I will not do an assignment of lease option contract unless it's been vetted by my attorney.
• Will consider partnering and integrating a wholesaler into my program for larger splits once a good working relationship has been established. 
• Depending on your marketing strategy and internal business setup, there are a few ways we can set up the deal. I try to provide a method that works for everyone, regardless of how busy/unbusy they are. Some would rather just hand off a warm lead and get paid $500 (least effort), others will put in some more effort to analyze the deal and put it under contract and assign the contract to me and collect $1,500 (or possibly more on higher income properties)
• Please keep in mind this is not meant to be your primary income for wholesaling, but rather a way to make extra income on leads you were throwing away or not giving much attention. It has been a great way for big and small wholesalers alike to recoup their overhead as well as generate some extra profit. Those with a more streamlined business can make a significant return doing this.

***REDUCED*** to close quickly! Collect $1,500/month on this 3-Unit Property!

Handyman special investment property

• Are you looking for great passive income?
• Are you looking to multiply your returns in real estate?
• Tired of competing over single-family units?

For far less than the price of most Single-Family Homes, you can have 3 income-producing units near the largest, most populated military base in the world, practically guaranteeing tenants.

PRICED TO MOVE QUICKLY: NOW $23,000!!!

This multifamily property offers multiple money-generating strategies:

• Priced to MOVE
• $18,000 annual gross scheduled income
• $15k rehab needed (mostly on one vacant unit), but I have a written contractor estimate so you don't have to do the work
• Or save EVEN MORE by doing the work yourself
• Perfect starter multifamily deal
• Pro-forma numbers based on 5 separate property manager estimates after rehab.

For IMMEDIATE DELIVERY of the Property Package call 910-408-7706 and it will be automatically sent to your phone!

For further questions and for quickest response, please e-mail me at [email protected]