Looking out for Time Value of Money in Real Estate Business

In this episode, Blair and Jeff talk about various topics
transactional investors need to know. Time value of
money is one of them! They also cover how to approach
sellers when they have backed up on a deal, how to manage a
lockbox when nobody is in the property, integrating Textline into
the business and the apprentice program.


Learn about factors you need to consider when resetting cash
deals under contract that are in foreclosure and how to save
those a long time behind on payments. Discover the best exit
strategies to turn a first signed contract into a hot deal,
renegotiating with better options to make deals possible, and
thoughts on various real estate subjects like inspections,
agreements, and banking.


Mentioned Resources:


Never Split the Difference – Book about negotiation skills by
Criss Voss

Mojo

Zillow

Textline

CallRail

90 – Day Apprentice Program

Ron Legrand

Propstream

Paypal

Cash app

Venmo

Zelle

Wire

Life Homes Solutions, L.L.C

Lou Brown – has a course with all you need to know about
trusts



In this episode we covered:


00:00:00 – Start-up

00:00:56 – Managing a lockbox when there is nobody in the
property, and lessons learned from closing a deal

00:10:04 – How to approach sellers who back up on a contract
of a deal and how to avoid their possible negative comments on
ads

00:20:34 – Reason for Blair and Jeff’s new testing and a
client’s request; get a walkthrough of Blair and Jeff’s way of
doing business

00:24:55 – About people’s reaction in pandemic crisis when
they have to go and see properties; Blair and Jeff collecting
rents from all deals

00:26:25 – How to integrate Textline to the business

00:27:24 – About “Noom”

00:28:02 – Responsible for paying taxes and insurance when
closing a deal; about whether it is necessary or not have a
separate policy and the use of a contract for deed

00:38:34 – About the apprentice program

00:39:40 – Factors to consider when getting two cash deals
under contract that are in foreclosure; one twenty months back in
payments and the other four.

00:52:18 – About a client’s first contract and finding the
best exit strategies for this hot deal

01:08:12 – About LLCs when doing business in all the
different states and about holding title in a trust for each
property

01:09:23 – Renegotiating a deal in Florida: putting seller
down another $10,000, purchasing subject-to instead of leasing,
assigning to a land trust, and lessons learned

01:16:28 – Setting websites and Facebook pages

01:17:54 – Legality when doing business in other states as
far as rentals and leases

01:22:00 – About seller’s photos or someone else’s photos of
a handyman special, inspections, and payment resources

01:25:34 – How to deal with banking in terms of collecting
rent and protection when a property is in a trust

01:27:47 – About LLCs and trusts in agreements when making
contracts with lease-purchase buyers

01:32:58 – About a future lawyer’s list to use for real
estate business

01:33:45 – 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!