Everyone wants effective sales and marketing… but few know what it takes to achieve them. Michelle Moore, realtor, author, inspirational and motivational speaker, leadership coach, and sales trainer, lays out her five-fold approach. Product: Is the product desirable? If not, what needs to be done to overcome objections? Price: What is the RIGHT price? Be able to back that up. Place: What are the benefits of living THERE? Promotion: No one is more excited about your listings than you. Show us why. People: Every interaction either builds or erodes trust.
Sharon Restrepo, broker at 32 West Realty and GREEN instructor, stresses the importance of developing a portfolio of rental properties with a view to retirement. She teaches that it is wise to hand these rentals over to a property manager so as to free up the investor to continue their search for additional properties. To this end, Sharon outlines the qualities that the investor should look for in a great property manager (e.g., experience and reputation; relationships with licensed vendors; thorough application process for tenants; attorney-prepared leases; etc.).
Larry McCumber, a real estate investor with over forty years’ experience, provides a basic 10,000 foot overview of both seller financing and foreclosure. As regards, seller financing, Larry notes that 50% of all real estate transactions include seller financing (e.g., when a seller covers the closing costs) and 90% of real estate transactions with investors involve it. Larry proceeds to explain foreclosure, noting that it occurs when the buyer defaults on the mortgage and the lender goes through legal process to regain the property. In the US, this process occurs two ways, varying from state to state: Judicial and Non-Judicial. Larry walks us through both processes.
People often equate “curb appeal” with landscaping. Paul Kazanofski of Revision Homes, LLC., explains that curb appeal involves much more than that. It involves a host of things ranging from the mailbox to the exterior door, to choices about the driveway and walks. It also includes safety features such as handrails and lighting. Further, it addresses the overall freshness of the house’s appearance, which can be heightened by painting brick exteriors, adding shutters and trim, with an overall eye to the color palate. Finally, it does, in fact, involve landscaping but in this Paul counsels thrift and good choices, using and shaping what is already there and adding as is dictated by the situation.
Larry Simons, broker/ owner of Home Hunters USA (Fort Myers, Florida) discusses two often neglected areas of possibility for real estate investors: mid-priced homes (ranging from $300,000 to $700,000) and small commercial strip centers (ranging from 5,000 to as much as 20,000 square feet of space). Larry’s primary focus in this talk is on the small commercial strip centers. He emphasizes that they require an understanding of what renovations are needed, a willingness to be creative in your approach to leasing, and a definite plan of how you will utilize the space.
No investor can do what they do alone. Everyone needs help. That’s why you have to assemble a professional team of experts. Larry McCumber, a real estate investor with over forty years’ experience, outlines and discusses the primary professionals an investor needs on speed dial: a real estate agent (ideally a buyer’s agent who works with investors regularly), mortgage broker, title company, attorney, handyman, and CPA top the list. Larry also notes the importance of a host of other specialists in your investing career.
Are you considering a possible real estate acquisition? Sharon Restrepo, a broker with 32 West Realty, Inc. (West Palm Beach, Florida), offers a simple and practical approach to calculating the return on investment (ROI) of the property in question.
Paul Kazanofski of Revision Homes, LLC., outlines the processes of installing what he calls the “eye candy” of houses, the granite countertops and coordinated backsplashes that many find so appealing. His discussion ranges from the value for fix and flippers of buying granite in bulk, the importance of leveling the supporting cabinets, cut out weak spots around the sink, working with the granite company, positioning seams, Paul’s preferred granite countertop options, expectations for pricing granite and backsplash, etc.
Sharon Restrepo, broker at 32 West Realty and GREEN instructor, discusses wholesaling in real estate. Sharon explains that wholesaling is a low risk, low capital way for a beginner to break into real estate investing. Wholesaling real property occurs when a buyer in an executed real estate contract “sells” his or her right in the contract to another buyer, for a fee.
Over time, real estate investments have afforded many people the powerful combination of appreciation and income. The purchase of real estate through a self-directed IRA is a popular choice for this and other reasons. A self-directed IRA gives you the freedom to invest in alternative assets such as single-family and multi-unit homes, apartment buildings, condominiums (leveraged or unleveraged), improved or unimproved land, commercial property, and more. Megan Galane, Director of Business Development for Mountain West IRA, Clearwater, Florida, covers the 10 basic steps to closing a real estate transaction in your IRA!