Make a Real Estate Deal Step by Step and No Step Out of Order!

Transactional real estate engineers should be
creative and quick, but most of all, they should be wise not to
evade any steps in the process when making a deal. There is a
script, and that script must be followed steadily and minutely.


In this episode, learn the sequence of steps you must take to
make a real estate deal work. Discover how to
approach sellers with non-conforming properties who only want to
cash out, and those who are in foreclosure with a USDA loan. Hear
about a deal with lots of exit strategies, about buying and
selling with seller financing, and how to deal with sellers
walking away from a contract a couple of days before closing.


Get tips on how to do ads to hire qualified acquisitionists and
how to find proper lawyers for this business. Master real estate
terminology that trips newbies up.


Finally, keep updated with what is going on in the market with
the shifting economy and its effects on the real estate world.


Mentioned Resources:


Propstream

Zillow

Meetup

Indeed



In this episode we covered:


00:00:00 – Start-up and market update

00:07:28 – How to approach a seller who wants to see the
contract with an attorney when there hasn’t been a verbal
agreement yet and how the whole real estate process works

00:13:47 – How to approach sellers with non-conforming
properties

00:21:30 – About a seller who wants to sell a house as three
rental units; steps to make the deal work and several exit
strategies with good cash flow

00:28:29 – About a client’s business update and having
trouble to get a proper lawyer; coming across a bad lawyer for
this business, and about real estate appraisals and assessments

00:38:57 – How to approach a seller who wants to cash out and
structuring the deal to wholesale and sell to somebody else

00:45:03 – Whether clients can go on working deals beyond the
90-day apprentice program

00:47:26 – Following steps after a contract has been signed

00:50:01 – How to approach a seller in foreclosure with a
USDA loan that hasn’t paid the mortgage in three years

00:54:15 – About a deal in which the seller is selling for
what they owe; buying and selling with seller-financing and how
to approach the seller on when to cash out the loan

00:58:44 – Difference between title company and attorney

01:00:10 – How to evict tenants in short and long-term leases
and how to figure out buyer’s monthly payment

01:03:13 –  Re-amortization vs. refinancing as an option
for the seller to bring down monthly payment and about equity
spread, back end, and carryback

01:06:07 – What is a wrap mortgage?

01:08:11 – Approaching a seller that owns a property free and
clear with a VA tenant willing to purchase in eight months; on
the other hand, they have a lien for $200K that they have to pay
off

01:17:26 – How to post and set an ad to hire an
administrative acquisitionist and about the process before
interviewing

01:24:07 – When sellers are concerned about something
happening to the house before it gets paid off or wanting it back

01:27:03 – In what part of the process do clients take on
leads?

01:27:44 – Where can clients get the resource docs from
without having to get into Dealbot?

01:29:12 – About a seller walking away from a contract a
couple of days before closing and whether suing for specific
performance is recommendable or not

01:36:09 – How to do a video walkthrough in a deal in which
seller can’t stand the tenant anymore

01:39:10 – About evictions these days



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.


Multimedia:


Youtube

Apple Podcasts

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Facebook



Thank you for listening!