Fantastic5 Apprenticeship Program
December 2023 Workshop - Day 2
DAY 2
SESSION RECAP
1. Get Motivated Sellers Coming to You
You are not in the business of buying real estate, you are in the business of finding motivated sellers. With our proven methods those sellers will be coming to you!
2. Lead Sources
- Cold calling
- Door knocking
- Drive for dollar
- Sending letters
- Digital Marketing
- SEO
3. Our Lead Flow
- Lead Generation Third-Party Company
- Follow Up Boss CRM
- Call and call again – VM – Email – Text
- Pre-Qualify = Call Script
- Checklist – Renovation Form
- Book Appointment With The Closer
- Call Recording
- Followup – Followup
- Notes
4. CMA Report
A comparative market analysis (CMA) estimates a home’s price based on recently sold, similar properties in the immediate area. It is important before making any offer to understand the market value of the subject property. You will gather 3 to 5 similar properties sold in the area where you are buying the property.
5. Getting Under Contract
- TREC – For Texas
- Land Trust
- Additional Contracts And Forms-Seller Disclosure
- Option Period And Amount
- Survey And Title Insurance
- Closing Date
- Closing Costs
- Special Provision
6. What to gather during the call to potential seller?
- Appointment Setter Details
- Seller’s Information
- Basic Property Information
- Finance-Related Information
- Property Upgrades & Rehab
- Information
- Price Information
7. What is the Goal?
- Does the property Condition make the deal a good one
- Does the financial conditions make the deal a good one
- Rental value estimate
- Market value is the baseline for negotiation purposes
- To produce three appealing offers
Fantastic5 Apprenticeship Program
December 2023 Workshop - Day 3
DAY 3
SESSION RECAP
1. Learn Methods to Funding Your Real Estate Investments
Even if you Don’t Have Substantial Capital or Credit We will teach you effective negotiation skills to create a win/win for both you and your clients by exploring various deal structures and creative funding strategies.
2. 3 Ways To Buy Properties
- Cash
- Take over payments
- Sell with owner finance
3. Acquisition - Once you book an appointment between the seller and the closer, you will need.
- 3C
- CMA
- 3 OFFERS
4. Renovation
We typically don’t renovate our properties; it happens in rare occasion.
Fantastic5 Apprenticeship Program
December 2023 Workshop - Day 4
DAY 4
SESSION RECAP
1. Master the Art of Property Transactions and Effective Coordinating
Learn how to drive effective real estate operations when it comes to buying and selling real property.
2. Operations - Is the heart and soul of your business, attention to detail here is very important, especially in the world of creative finance where there are so many moving parts, the operations will cover everything in between:
- Buyers and Sellers
- Title Companies
- Finances
- Insurance
- RMLO (Residential Mortgage Loan Originator) Company
- HOA (Homeowners Association)
- Mortgage Companies and Loan Servicing Management Companies
- Filing and Document Organization (Dropbox)
3. Buying or selling as owner finance or Subject to deals and Wrap Around
There is a set of documents you will need to disclose 7 days prior to closing and use the service of a loan officer when selling, closing about 45 to 60 days.
4. Acquisition Process for Subject-To
- These disclosures must be signed 7 days prior to closing to avoid any delay at
- closing-do on sale clause
- Get a copy of the closing documents for review and approval before closing. *Ideally 3 days prior to closing
- Schedule the closing with the seller and mobile notary, if needed
5. Acquisition Process for Subject-To
A wrap around transaction is a legal form of seller financing in Texas. Texas Property Code § 5.016 addresses the treatment of “Property Encumbered by an Existing Lien. Transaction (also known as “Subject to Transaction”) is a special form of seller financing.
Fantastic5 Apprenticeship Program
December 2023 Workshop - Day 5
DAY 5
SESSION RECAP
1. Profitable Exit Strategies
How to effectively market and understand different exit strategies when selling your properties to maximize your return on investment.
2. Marketing for Sales
This is the most fun part of our business; how cool it is to look for a buyer and have multiple inquires for one single property, how easy is to find a buyer when 85% of the population are your ideal client. Buyer that can’t qualify for traditional loans.
3. Start To Market The Property Immediately
4. Pre-Qualify The Buyer
- Minimum of 10% for the down payment.
- Can afford the monthly payment – close to the rental market in the area
- We don’t care about their credit
- Finding Boots on the Ground
- Craigs List
- Task Rabbit
- Facebook Marketplace
- Facebook Groups For Real Estate
- Local Church
- take pictures and WALK THROUGH video of the property
- PLACE A Lock box IN THE DOOR
- PLACE THE Signs On the yard and the surrounding areas near by the property.
- 10 Signs of “For Sale By Owner” (English/Spanish)
- 10 Signs of “We Sell Houses” (Spanish/English)
