Line up Your Buyer Before You Close a Deal to Avoid Taking Any Risk!

The real estate business has great opportunities. As
transactional engineers, you have all the strategies needed to
identify them and turn them into deals. The market is constantly
changing because of the economic crisis. Several states are
experiencing significant disturbances, such as violent protests.
Buyers in some areas will be difficult to get. In questionable
areas, line up your buyers before closing on a
deal to avoid taking risks.


In this episode, hear about what is happening in the market, how
it affects the real estate business, and a new exit strategy.
Learn how to approach deals with no margins or properties in
questionable areas, how to deal with homes in trailer parks, and
how to deal with fire damaged or gutted cheap properties.
Discover what to do with houses that have residents who smoked,
how to work out a subject-to with a carry-back on the purchase
and sale agreement, and how to structure a deal as a sandwich
lease purchase or as a subject-to cashing the seller out in the
short term.


Finally, hear how to delegate a marketing campaign to
acquisitionists, how to deal with a big difference between comps,
and what resources can be used to collect payments.


Mentioned Resources:


Housing Wire

Wall Street Journal

SFGate

Ron LeGrand

Zillow

FSBO

Cozy

QuickBooks

Propstream

Mojo

Screen The Tenant



In this episode we covered:


00:00:00 – Start-up; market update, resources to find news
and another exit strategy for transactional engineers

00:11:54 – About a deal under contract in an oil field town
in Texas involving a manufactured home in a trailer park; whether
wholesaling is an option if seller is asking for $62K and ARV is
$198K

00:15:59 – About information needed to do trailer and trailer
park search

00:18:29 – How to approach lease options in regards to low
margins and questionable areas

00:28:35 – How to delegate a marketing campaign to
acquisitionists

00:32:36 – About a client wanting other opinions on PIN –
connected investors to run comps

00:34:35 – How to approach a seller in a deal that has a low
rental margin before putting under contract as a lease option

00:39:32 – About Cozy and Quickbooks to collect payments

00:40:55 – How to deal with fire-damaged or gutted cheap
properties

00:43:43 – How to find a buyer for a smoke-damaged house

00:46:04 – How to approach a seller selling two building
units on a joint loan for $75K and about remote property
management for rentals

00:48:59 – How to get paperwork set up for a subject-to deal

00:51:14 – About lines that don’t line up with the script and
can be rearranged when training a VA

00:53:54 – How to deal with situations when looking for comps
and finding a big difference between those done six months ago

00:56:50 – How to approach a seller that wants something out
of the deal after having agreed to take over with terms and
brought current to save their credit

01:01:40 –Who do buyers send their check to for the first
month’s rent after deal meeting and how is it done virtually

01:03:16 – What form should be used when structuring a deal
as a sandwich lease purchase in which sellers agrees to be cashed
out in the short term, and how to structure the deal according to
Ron LeGrand and as a subject-to

01:12:20 – How to handle a situation in which Propstream says
tax assessment is $25K but the seller says it’s $68k and comps
have dropped from $200K to $19K for a house in Kentucky that gets
water in the basement

01:17:58 – How to handle and structure a deal in which
Cherokee Nation dismisses loan for a ramp and shower as long as
the seller stays in the property for three years

01:25:19 – Whether a prospect could be a deal or not; how to
approach a seller when it is very difficult to find somebody who
would want to put $26K cash into a deal that has no equity and
how to work it out as a short sale

01:33:31 – Best way and utility through which to hold title
to investment real estate properties and about legal protection

01:37:37 – How to find out who owns a property

01:40:42 – How to work out a subject-to with a carry-back as
on the purchase and sale agreement

01:43:12 – Wrap-up



About Blair:


Blair is the founder and creator of Dealbot, a motivated seller
lead generation company. He has managed nearly $2mm in marketing
spend and generated over 100,000 motivated seller leads. He also
buys and sells houses himself in the Winston-Salem and Charlotte,
NC markets. In the past year, he has acquired nearly $3mm in cash
flowing rental properties with zero money out of his pocket.


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Thank you for listening!