Eddie: Sure. Here you are.
Thanks – but half the pages are missing.
Eddie: What’s the matter? Isn’t half a million enough for you?
< What would you rather make $16 per hour or $1,600.00?
No Joke! Let me Show you:
Eddie’s Example of a Bank REO Deal:
12XX NE 3 Ave. Fort Lauderdale Duplex
Purchase Price: $37,500
Sale Price: $45,000
Gross Profit: $7, 500
Closing cost on the Buy: $277.50
Closing Cost on the sale: $805.00
Total Closing cost: $1,082.50
Gross Profit: $7,500
Total Closing cost $1,082.50
NET PROFIT $6,417.50
It took Eddie the Mentor Bear 10 days to close and 4 hours of his time, from finding the property to the closing table.
What is required to do a REO deal like this one??
# 1- Know exactly what you want and apply specialized knowledge
# 2- Have a measurable plan of action with a date line
# 3- Identify the people that are going to help you get a deal like this one
Eddie looks at 10 bank owned houses a day. The houses must be pre-screened and be listed at a lower price of the values in my areas. He is committed to making 10 offers a day, even verbal offers If he has to.You must have report with the REO Agent and know what to say for this one. It’s not what you say, its how you say it, it will save you time and make you money and you’ll have more fun.
PS. If you’re starting out and you think making $6,400 in 4 hours is to good to be true! You are right! Is not true! That’s $1600 an hour! If this was easy, why aren’t more people doing it!!
Let Eddie the Mentor save you time and money and and you will have fun. After you close on a few deals with a Mentor,Your Life will Never Be The same!!!
Is it Important to know you Areas? How do you come up with a good offer
Watch to Find Out at the End!!
?
How Much would you Offer on this Waterfront Short Sale?
If you are new to real estate investing and haven’t got your first deal…get a Mentor! It’s the easiest way to get the deal and make $$$!
(from 6/29/09) What’s stopping you from making offers ?
You are not effectively searching MLS for REO’s, motivated sellers or houses below fair market value.
Your contracts do not contain the keywords that motivated sellers want to hear to fulfill their needs.
You are not making enough offers!
Are you making offers and still haven’t turned them into cash? What are you waiting for? For the market to change?
Maybe You have real estate courses, books and the knowledge But not a mentor to walk you through the whole process..
Eddie can show how to Make offers in your 1st contact, if necessary verbal…Also he will explain how to talk to motivated sellers and make 4 different offers at once!
Don’t get left out!! Get a mentor!
As an experienced Mentor, Eddie can guide you through the maze of the Real Estate Game. Eddie can help you acheive your real estate goals and make this year your BEST yet!
(tip from 3/23/09) Road Runner: Beep, Beep, Hey Eddie, I didn’t find my pot o’ gold last week, the Coyote is always chasing me and trying to blow me up! Should I still be making offers? IS that the best use of my time, I’m always in a rush! What NOW?
Eddie: You bet!!! Keep making offers! It’s the best use of your time! Road Runner: Beep, Beep, What else should I know when I am making offers? Eddie: When you’re making offers you MUST know the Value of the property Road Runner: Value? How can I tell the value fast, Beep, Beep. Eddie: Keep these 3 things in mind when you are running around looking for your deals:
1. How far away? The closer the better
2. How old is comp? the nearest to today’s date the better
3. Square footage?Select the comps that have Sq. Ft. closes to the subject property
Road Runner: That’s it? Anything else? Can I go now? I’m in a hurry and want to make sure I’m not missing anything Beep. Beep.
Eddie: Ok, don’t run off yet, Here are 3 more things you can consider before making your 5 offers a day!!
Your Offers should be 50 to 60 % of the value or less. You must consider a few things before. Here’s a sample of 3 things you must consider 3 additional things:
1. Is it a high price area or Low price area?
2. If the house needs $5k in repairs or $20K in repairs
3. How long has it been on the market? 2 days 2 weeks 2 months?
Must adjustments in your offers so they’ll be more effective .
The good thing Road Runner is That You Must act FAST!Don’t let the Coyote get in your way and beat you to your great deal this week! Road Runner: Beep Beep!! I’m racing to my next deal, Gotta Go! Thanks Eddie!
Eddie: Make it Fun and Don’t Give UP!! Eddie: You must be persistent! Keep making changes until you get the results you desire. If not reaching your outcome fast enough, if you want to be more effective and create massive results! You need to step up your game in Real Estate Investing! Find a qualify mentor, a mentor has gone though the ups and downs so that you don’t have to. And you can avoid all the headaches; let’s buy a house this week!
7 Steps to Program your mind to Overcome Procrastination:
1.Have Goals: Goals Motivate You.They intensify your Desire to Achieve. The more goals You have the less you ‘ll procrastinate
2. Visualize: Imagine how good you will feel once the task is completed.This will keep you energized and focused on the end result. Marathon runners vividly visualize in the finish line, That’s what keeps them going.
3. Positive affirmations: Every Morning say to yourself “Do It Now” 50 times. This will eventually become a habit and you’ll see yourself doing things now.Tour of France cyclists and Marathon runners say to themselves “I feel Great!” even when they feel pain, hurt or tired. That affirmation supercedes those feelings and makes them feel Great. Effective people and athletes use affirmations. 4.Set deadlines: Commit to yourself to get the job done. Setting clear specific deadlines programs your subconscious mind and you often find yourself compelled internally to getting the job done.
5.No Excuses or Rationalizations: People that procrastinate always have what they think is a good reason. Say you’ll do it, Stick with it & burn your mental bridges. 6.Reward Yourself: Create a reward for each part of the job and for the whole job.You’ll be eager to finish.(i.e. People direct their focus to the weekend to get them going during the week; A reward for a small goal could be dinner out or a movie, a big reward could be a new car or a vacation)
7. Program Yourself: Program yourself to overcome procrastination by accepting 100 % responsibility for the completion of the task on schedule. You only depend on yourself and rely on yourself. No matter what the obstacle resolve to find the way around up over or pass what ever gets in your way. Refuse to make excuses!
Things may come to those who wait, but only the things left by those who hustle.” -Abraham Lincoln
“Procrastination is the bad habit of putting off until the day after tomorrow what should have been done the day before yesterday.” – Napoleon Hill http://cashforhousesmentor.com/
Scooby:Ra-llo Eddie!
Shaggy: Like Zoinks! Eddie! We just helped the gang solve a creepy mystery. Can you like help us get a cool deal?
Eddie: Sure! but you will need the Mystery Machine!
Scooby: Ra-for?
Shaggy, Ya, like what does the Mystery Machine have to do with like getting cool Deals?
Eddie: You will need it to Drive for Dollars$$ looking for REOs
Shaggy: Like Man, what’s that??
Eddie: ok, Shaggy Here’s what its about and why you should be driving for dollars:
1 .You will know the area’s values.
2. You will be the first to know the new listings = first one for the deal
3. Vacant houses! Can be gold mines but must follow up!
Shaggy: Like sounds groovy man, Right Scoob? I will ask Fred to let us borrow the Mystery Machine! Lets go get some Scooby Snacks for the drive!
Scooby: Roooby Doo!
Eddie: Wait guys! There’s so much more to know about buying REOs, such as code violations, bank addendums, title company charges, etc. Don’t forget if you have more questions on getting started or you want to step up your game in real estate investing I’m here to help you every Step of the way!
Scooby: Ranks!
Shaggy: Ya like thanks Eddie! I’m glad you are here to help
Tweetie: Hey, I’m a wittle frustrwated, I keep searching listings and getting nowhere. I’m ready to give up, what should I do?
Eddie: First of all Tweetie, do you have a plan of action when you’re searching listings?
Tweetie: I’m a busy biwd, always being chased by puddy tats and don’t have time for tat, I just want a great deal fast!
Eddie: Well, one way to get fast results is to pay attention to details when you search for listings. Make sure you are looking at new listing, look for keywords like “motivated seller” “priced to sell” “make offer”"price reduced”. This saves time!
Tweetie: I never twat of tat, Eddie! I will twy it!
Eddie: Just remember Tweetie, Hang in there, Don’t give up and take action!
In most areas, most of the time a small roof leak starts in the gap between the shingle roof and the flat roof.
Most people have no idea what to pay for a minor roof repair, but think it’s too expensive! It seems like it’ll cost $3,000 when is really $300.
See The Video Here!!
The answer to the video is::
a- Less than $500
b- LESS THAN $1,000
c- Less than $1,500
d- Less than $200
The answer is a and that’s including ceiling repairs. Not Bad, Right?
Appearances can be deceiving. Any roof damage on a house would have to be a cash purchase.
There’s so much more to know and Eddie the Mentor Bear is here to help you with your Real Estate goals!
