Broadcasts.com - "Negotiating" (Flipping America)

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Negotiating

Published: May 6, 2018, 6:30 p.m.

b'FAR 076 Expected Air Date: 10/16/17

Topics:

Mark your calendar now and plan to attend \\u201cFlipStarter\\u201d is coming October 20 and 21. . Join my special guests:

EJ Lashlee, author of the True Trust Book, The Protection Book, and founder of True Trust Services. \\xa0He will be speaking about asset protection through Private Asset Trusts.
Jennifer Hammond, Host of The Jennifer Hammond show on Sirius/XM Radio The Urban View. Nationally acclaimed realtor and investor extraordinaire.
Jay Conner. America\\u2019s private money authority
Bruce Mack. Founder of Platinum Finance
Pat Dornan, developer of the \\u201cUltimate Rehab Estimator\\u201d and author of \\u201cExpect the Unexpected.\\u201d
Roger Herring, Founder of Investors Accounting.
Karen Anderson, Direct Marketing and List Consultant
Mike Ventry, Advanta IRA, How to use your self-directed IRA to create potentially tax-free income.
And of course, me, the Flipping America guy, Roger Blankenship. I\\u2019ve made my career in real estate investing by doing it rather than talking about it. I\\u2019ve flipped hundreds of houses and I\\u2019m going to show you how to do it. I have a few techniques no one else uses or teaches, but I\\u2019m going to share them with you. Why?

Because we are going to tell you how to get started Flipping Houses and building wealth. It\\u2019s not just owning a business, it\\u2019s owning a wealth generation machine that will not only provide for you, but be a blessing to your children and grandchildren. And that\\u2019s not all, when you purchase your ticket for only $97 for this two day event, my good friend Jay Conner is going to invite you to HIS event in October at no additional charge. That\\u2019s right, two multi-day real estate training events for one low price. Sign up now at FlipStarterEvent.com. \\xa0 The FIRST 20 people who sign up for FlipStarter can save 20% off the admission cost by using the coupon code HOT20. \\xa0 I flipped 75 houses before I finally decided to go to a seminar about flipping houses. I wanted to improve my techniques. Over the years I\\u2019ve attended many training events and I can confidently tell you that FlipStarter is unlike any real estate investor training out there. See for yourself at FlipStarterEvent.com

Trends:

Questions@flippingamericaradio.com Tell us where you\\u2019re from! 5 Bathroom trends to avoid! And we are not just talking about laying off the late night pizza...

News:

Inflation surprisingly low. Int up in Dec \\xa0https://www.bloomberg.com/news/articles/2017-10-15/yellen-says-fed-to-raise-rates-gradually-as-inflation-picks-up
Best rental mkts for sfr \\xa0https://www.cnbc.com/2017/10/13/want-to-be-a-landlord-these-are-the-top-markets-for-investing-in-rental-homes.html

Emails:

Questions@flippingamericaradio.com Tell us where you\\u2019re from!

Doug, Fresno, CA, \\u201ci can\\u2019t come there\\u2026 call..
Jill, Baltimore, MD \\u201cI am making offers on the MLS but cannot win any deals. What am I doing wrong?\\u201d
Brent from Providence, RI, \\u201cHow do you handle winter renovations? I\\u2019m about to buy a fixer upper, but wonder how I will get it done over the winter. We estimate it will take 2 months to complete and it will be turning cooler soon.\\u201d
- Do the outside now and whenever the weather allows.
- Get the heat on in the house.
- Allow extra time in your projections for bad weather delays.
  - Daily costs
  - ROI
  - Timetable projections - cash flow
Jenae, from Denver, CO, \\u201cI sent out a mailing last week and the phone has rung a few times and I scheduled my first appointment. I\\u2019m excited but SO nervous about meeting the seller. What can I do to be less nervous?\\u201d
- Consider your Personal safety
- Prepare, prepare.
  - Everything you can know about the house
  - About the seller, their problem, their motivation level...
  - About the situation - loan balance, payment, etc.
  - Your formulas - know what you can pay.
- Rehab worksheet in hand.
- Tape measure, pen or pencil, clipboard, flashlight, camera (phone is usually good enough)

Topics:

Negotiating TOP TIPS
- Preparation
- Body Language
- Presentation
- Close

What you need to know to flip: So what do you need to know to really fix and flip houses?

How to find deals
- 10 sources
  - Foreclosure auction an entirely different set of risks and knowledge base.
- Deal Marketing
  - Direct mail
  - Landing page
  - Answering the phone
  - Screening calls
  - Making offers
How to know if it IS a deal
- Diff between profit margin and profit
- Diff between gross profit and net
- Calculating profit
- Estimating repairs
- Determining ARV
How to buy it.
- Negotiating
  - Creating solutions
  - Maximizing profits
- Structure
  - Purchase
    - Cash
    - Equity Partner?
    - Hard Money
    - Private money
  - Owner Finance
  - Installment contract
  - Lease Option
  - Lease Purchase
  - Subject-To
  - Wrap around
- Financing
How to flip it
- Wholesale?
  - Assignable contract
  - Double closings
- Fix it
  - Structural knowledge
    - The parts of a structure
    - Recognizing what needs to be repaired or replaced
    - Design decisions
      - Choosing colors
      - Styles
      - Accessories
  - Contractor vetting and approval
    - Where to find em
    - How to check them out
    - How to interview them
  - Contract law and development
  - Contractor Supervision
  - Payment process
    - Draw schedules
    - Lien waivers
- Sell it
  - Marketing approach
  - Using a realtor
    - How to find
    - How to vet
    - How to interview
    - Whom to hire
    - Manage the relationship
  - Listing and pricing strategies
    - Gathering feedback
    - Managing objections
    - Price reduction strategy
    - Negotiating with buyers
    - Negotiating AFTER its under contract
- Running Your Business
  - Setting up properly
  - Keeping proper records
  - Creating business systems
  - Tax strategies and planning
  - Protecting your assets
  - Proper Insurance for all assets
- Managing tenants
  - Know the laws
  - Prepare for court!
  - Handling service requests
  - Leases!
    - What goes in them
    - What can\\u2019t be in them
    - Who\\u2019s on the lease?

That\\u2019s the TIP. The iceberg is what is underneath all that. It\\u2019s a lot. But what do you get in return?

The real possibility of a six figure income in a couple of years.
The opportunity to build lasting wealth to pass on to your children and grandchildren
Freedom - work when you want, however long you want, quit when you want or when you can each day.
The opportunity to live life on your own terms. Don\\u2019t \\u201cmake a living.\\u201d LIVE. Do that \\u201chigher meaning\\u201d thing.