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FAR 181

Opening

Announcements:

• The Flipping America Mentoring Program, August 28-31, Sandy Springs, GA
  • Menternship Also.
    • Ten Deal Sources explored and explained.
    • Complete Deal Analysis.
    • Finding the re-sale value of any residential property in the U.S.
    • How to estimate repairs from your desktop.
    • How to finalize a repair estimate through a site visit.
    • Structuring your business for effectiveness and asset protection
    • How to set up a web site for your business.
    • Understanding the various ways to get your deal funded.
    • Learn creative deal structures.
    • The mini-course in negotiating
    • The full course in renovation.
      • How to find, vet, and hire contractors.
      • How to manage the process
      • How to solve the inevitable problems that arise.
    • Learn how you could get your deal 100% funded - not just your next one, but every deal you ever do from now on.
    • Get all the forms, the documents, the checklists, the procedures
    • Get the scripts for your conversations
      • Hiring questions for realtors and contractors
      • Answering the phone
      • Talking to sellers
        • Build rapport
        • Get key information
        • Learn motivation
    • The course comes with on-going weekly group coaching calls
    • You also get one-on-one guidance through your first four flips.
  • This is the three day dive into a year\\u2019s worth of training and guidance. But our commitment to you doesn\\u2019t end in one year. We are with you at LEAST through your first four flips and definitely until you have more than doubled your training investment.
  • What is the investment? What is reasonable? Let\\u2019s talk about $50,000.
  • The cost is $12,967, but if you use the coupon code \\u201cradio\\u201d your cost is $9,967.
  • Go to www.flippingamericanetwork.com/Mentoring and sign up today. We only take about 10 people per class and several have already signed up. There\\u2019s just a few seats left.
• Lunch with me every Wednesday.
• Monday the 27th of August, speaking at the West REIA, Cherokee Cattle Company, Marietta, GA
• Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It\\u2019s a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
• Want a quick analytical tool to tell you how strong a potential fix and flip deal is? Download the Property Grade app. You answer 10 simple questions about the property and the app instantly tells you what you can expect to make, your return on investment, your return on cash, and then the program gives the project a letter grade using the proprietary Flipping America Investment Property Grade algorithm. \\xa0

News!

• https://www.attomdata.com/news/market-trends/foreclosures/july-2018-u-s-foreclosure-market-report/
• https://www.attomdata.com/news/market-trends/home-sales-prices/q2-2018-u-s-home-sales-report/
• https://www.realtor.com/news/real-estate-news/existing-home-sales-fell-fourth-straight-month-july/
• https://www.realtor.com/news/real-estate-news/mortgage-rates-tumble-housing-starts-drag-economy/
• https://www.nreionline.com/lending/new-opportunities-open-capital-markets-amid-dodd-frank-rollbacks
• https://www.nreionline.com/finance-investment/what-every-real-estate-investor-should-know-about-cost-segregation
• https://constructionliens.uslegal.com/

Comment Line calls and Questions

Emails:

• Milton, Kansas City, MO, \\u201cI heard you talk about a Commencement of Work document and I wonder if you know whether it is required or recommended in Missouri?\\u201d https://constructionliens.uslegal.com/
• Harold, Detroit, MI, \\u201cWe have so many types of opportunities here in Detroit right now - older homes in the city and relatively newer homes in the close-in suburbs - but they are still 40 years old. I\\u2019m not sure where to start or should I just take the first opportunity that comes to me?\\u201d
• Jennifer, Nashville TN, \\u201cI am working on a rehab project and when I go visit the site I really don\\u2019t know what they are doing or how well they are doing it. I\\u2019m faking it, and I think they might know I\\u2019m faking it. How do I get the knowledge I need?\\u201d
  • Community College
  • Big Box store courses
  • Do something yourself - get advice from your local building supply store.
  • Don\\u2019t be afraid to ask questions. Don\\u2019t be afraid to look dumb. You are not expected to be an expert in home construction right now. The contractor will respect your honesty and your ability to put the deal together.
• Ashley, Boulder, CO, \\u201cI\\u2019m having a problem getting a contractor to even look at my rental house. Everyone claims they are too busy. I think it\\u2019s because I\\u2019m a woman. I know you are a man but do you find that other women have this problem? Have you seen them overcome it and if so, how?\\u201d
• Al, Ann Arbor, MI \\u201cI\\u2019m doing a few flips each year here in my area but people are talking a lot about Detroit. It\\u2019s about a hour\\u2019s drive for me but I\\u2019m wondering what you would do in my shoes?\\u201d
• Steven, Waukesha, WI \\u201cIt\\u2019s late August and I\\u2019m looking at a couple of real deals here, but winter is coming and I\\u2019ll be trying to sell them in January. Should I hold off?\\u201d

Motivational Thoughts for the day

• Act as if what you do makes a difference. It does. William James