Finding, Flipping & Fixing The Beginning Real Estate ...

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Finding, Flipping & Fixing The Beginning Real Estate Investor's

Basic Training Course

Timothy McKierney

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Finding, Flipping & Fixing The Beginning Real Estate Investor's

Basic Training Course

Introduction.................................................7 Section One ? Birddogging (Finding)

Find a Property..............................................15 Lead Sheet...................................................28 List a Property..............................................31 Sell the Property............................................34 NCND.......................................................41 Resources 1..................................................46

Section Two ? Wholesaling (Flipping) Wholesaling.................................................49 Finding Sellers.............................................64 Investor Profile Sheet.....................................69 Filling Out the Lead Sheet and Profile..................72 Agents and Properties.....................................78

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Contracts.....................................................86 Section Three ? Fix and Flip (Fixing)

Fix and Flip..................................................95 Resources ? Videos.......................................109 Resources ? Books.........................................116

Forms and Documents

Forms and Documents..................................118 Affidavit & Memo.......................................121 Back to Back Closings .................................127 B-C Real Estate Purchase and Sale Sample..........129 Business Card............................................143 Buyer Script..............................................145 California Information..................................147 Commission Agreement................................150 Disclosure Agreement..................................151 End Buyer Down Payment Statement................152 Land Contract...........................................153

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Land Trust Revocable Trust.............................159 Probate Letter.............................................166 Probate Tracking Sheet...................................168 Property Appraisal Sheet.................................172 Real Estate Affidavit & Memo ? Generic..............177 Real Estate Affidavit & Memo ? Simple...............187 Realtor Script...............................................190 Resources Books...........................................193

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Real Estate Investor Training

INTRODUCTION

Welcome to Real Estate Investor Training!

The objective of this course is that you will be able to find, evaluate and sell properties quickly at wholesale prices. To do that, you will also need to find buyers, market your properties, write contracts to protect yourself both as a buyer and seller and to negotiate effectively for the best deal.

You will learn all of that in this course. And you don't need a website. All you need to succeed is a cell phone and internet connectivity.

You may think there's a lot to learn but don't worry, we'll take it step by step and learn it one piece at a time so that by the end of this course, you will be a true real estate investor. As you go through this program, you may discover many things you do know, you just haven't applied them to real estate. Take notes, study and apply your knowledge as soon as you can. I recommend doing at least one thing a day, beginning today.

In this course you will learn three methods of making money from real estate. The first method is commonly called "birddogging." In this method, you collect a Finder's Fee for each property you find and sell to an investor. How much you receive from each home you find is negotiable

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but I recommend you use either a percentage method or a fixed fee basis.

The second method is "Wholesaling." This is when you find a property, put it under contract and then either assign or sell the property to an investor. This has a bit more risk than birddogging and will require you have some cash to pay the deposit and possibly a down payment. That's why birddogging comes first, so you can build up your cash reserves before going into Wholesaling. Wholesaling is also called simply "Flipping."

Method three is "Fix and Flip." Locating and evaluating a home is the same as in the first two strategies, but in Fix and Flip, you will buy the house and then fix the minor deficiencies with the property. Next you will raise the price of the property to a level you think is fair ? lower for a quick sale, higher if you can afford to wait longer for the sale.

Fix and Flip requires that you are able to evaluate the costs of repairing and upgrading the property accurately (within a range) and that you have the cash set aside to repair the property and then that you have the cash set aside to hold the property until it sells. Some investors use this strategy exclusively and have made millions using Fix and Flip.

We also provide a Financial Management Planning course. This is available separately and will help you manage your income, invest for cash flow and provide a means to monitor your income and expenses.

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