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:house: (Line of Financing 1 (Partnership (Hard $ or Private Lender…
:house:
Line of Financing 1
Partnership
Hard $ or Private Lender
Google
Referrals form Investors
IRA Meeting
Seller of recent Property
Social Media
Local REA meetings
Money - No experience
Investor no Extra Time
Benefit
No $ out Pocket
Elevator
I help investors get excellent returns by purchasing under value assets and resell for market value
Good Area 2.
Whole Salers
Craiglist
nationalreia.com
Pitch
New Whole sale
on my phone
Driving
Talk neighbors
Land Scape
Clean
Home Owner Area's
Website
Bright MIS homes
Zillow
Realter
Social Media
Groups
homelight.com
realtors specialize in area
Find Deals 3.
Probate
More Personal
Local Website
Write Letters
4 Letter's Max
People Passing Away
Agent
Pitch on phone
Criteria
Price
Range
Bed & Bath Count
Home size & style
Absente
yellowletterservice.com
Contract
Evaluating Deals
Pull Comps
Real Estate Agent
Better to pull comps
Why?
No estimate
Shell & ARV
Shell: Before fix
ARV: After Repair Value
Online Resource
Analyze Comps
Avg. 3 Highest
When selling
Avg. 3 lowest
When purchasing
to get appox. price
What investors paying ( Shell Comp)
Look ARV's & Finish Product
Look at pics
Determine Repair estimate
Eval Roof
Eval in.... and exterior work.
eval mechanics e.g. HVAC, Plumbing, Electric
Time to Renovate 5.
Managing Contractors
get along with you and workers
why?
effects workers and you
Managing Contractors contracts
Scheduling / time allowed
Discipline
Do before start e.g. he's says 5 days to complete
give 7 days minus $100 a day past that
why?
each day you owe money
ALL ABOUT TIME
Drawings
can ask contractor to provide
can work with architect
Scope of work
Detailed
needs in house
How and when paid
Who's paying Materials
Permits BIG
Why?
inspections
Show buyers it's worth it
Help you learn
See if you're up to code
don't know what right or wrong looks like
no permits = trouble
tear wall downs
Fine
Scare buyers
Very Important
Don't over pay
no 1/3 $ deal first time working
not when nothing is done
start off
e.g. $5,000 for $ $50,000 job
Most will want that
Find Contractors
Hard to get
HVAC, Electrician, plumber
Why?
Specialty trade
HVAC and Plumber
Work in same Are
Missing one? ask other for recommendation
Specialty shops
Angie's List
more expensive
First deal
Better safe than sorry
Referrals from other contractors
Ride around for projects
get Card
Come during the beginning of project
come back couple of months later
Social Media
FB Group
See comments
Renovation
Before
Figure Out
Draw Schedule
Selected Contractors
Scope of Work
close on the property
Basement & Addition Work
inspection
Structure a Deal 4.
50/50 Partnership
Financial Partner
Pays all expense accrued
Will be reimbursed then split equally
Utilities
Monthly Payments
First Draw
Including Close cost
Close Deal
Builders Risk Insurance
Damage
Fire
BGE