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Working with REO brokers

Investing in Real Estate can be exciting, challenging, scarry, and sometimes downright overwhelming. Gone are the days of having to search hours upon hours to find a deal, a good deal is waiting to be had on every other street it seems like these days. When I first starting investing in Real Estate I was overwhelmed by the amount of inventory their was, so I began creating "systems" to track prospective properties all around my town, Jacksonville, FL. As I got more confident and aware of the "game" so to speak I realized my Real Estate community was not as big as I thought it was. Upon driving the areas I began to notice the same broker signs and names associated with those signs. At first I thought I needed to get ahold of every one of these people and tell them who I was, but the more I thought about it I decided to target only 5-7 REO brokers and begin building relationships with those people. Since adopting that strategy my company, Premier Choice Investments, has had extreme success. I buy 3-5 properties from REO brokers every month and have been for quite some time now. I say all that to say this, "How is your relationship with REO brokers in your town?" If it is not that good or if your intimadated with the whole process let me give you some tips that might help. The number one tip I can give you is this, Don't waste there time. Simple isn't it, but it works, always be aware of there time and go the extra mile for them. For example when you call them to introduce yourself don't ramble on about your business and how much you want to pay for properties, they don't care about that, but they will if you build the relationship first and think business second. I want to give you my Top 5 reasons REO brokers will want to work with you. Here yah go.

1. You are always curteous of there time.(Ask them to set you up with an automatic email update for there properties)
2. You don't ask them if they think the bank will take your offer. (Just submit your offer, don't explain why your offer is low, they don't care they just want to sell the property)
3. When you are building the relationship with them tell them this line "I always close" (This will set you apart from the wannabies who always back out because of some reason)
4. When you start building the relationship find out if you have common interests, this will set you apart from the jerk investor who is always about business.
5. After you close a deal with them, bring them the lock box back to there office, this will give you an excuse to meet them which will set you apart from the other investors.(This face to face meeting is crucial because now you are a person not just someone behind the phone)

Creative Financing 101 Pt.2

In my previous article titled "Creative Financing 101" I gave 10 creative financing strategies that you can use in today markets. If you are open minded to unique and creative forms of real estate it will benefit you and your company immensely. I have seen to many times investors get frustrated because deals don't come there way or they can't close a transaction. My advice is, don't give up, in some of the worst circumstances and situations is where I have learned the most. The business can make you feel like your riding a roller coaster sometimes, but what I have observed from my mentors is the people that truly make it big in real estate investing are the ones that have creative minds and perserver the most. So my goal for writing these two article was to help you open your minds to the endless possibilities in Real Estate investing. Now drum roll please, here are the last 10 creative financing techniques that you can use to complete more deals. Please as always use discretion and a little common sense when applying these. 11. 1031 exchange - when the buyer exchanges a property already owned for a property of equal or MORE value, can include profits from a sale of a property, tax benefit
12. Joint venture with seller - when the seller keeps some or all of his equity in the deal for some sort of financial incentive from the transaction
13. Equity Partnership - when the buyer brings a partner in based on equity sharing (some of the equity)
14. Cashing Out - the buyer pays cash for the property with the intent of financing the deal in a short while to take their cash out.
15. Lease with Option to buy - the buyer leases the property with the right to buy it at a future date, can buy and sell this way
16. Cash flow mortgage - buyer negotiates monthly mortgage payments to equal cash flow from rental income
17. Subordination - buyer negotiates owner financing, a mortgage note that will require the seller to take a secondary position to future financing
18. Blanket Mortgage - when one or more properties are encumbered by the same loan and mortgage KEY POINT - predetermine the release figure from each property
19. Alternate goodie method - when the buyer buys or barters something else of value as part of the sales price of the property.
20. Straight Option - when the buyer options the property for a certain period of time at a certain price, notarize the contract, AM, record at the county clerks office, clouding the title
----------If you have any questions regarding any of these strategies or you just want to chat about real estate investing send me an email at scott@jaxhomebuy.com. I enjoy meeting like-minded people. God bless

Everybody Needs a Mentor!

My purpose behind writing this article is two-fold. First, I would like to encourage all people in business to acquire a mentor if you don't already have one. The right mentor with the right motives can be "priceless" for any business man/woman. Secondly, I have just experienced my best month ever, not only in business but personally as well. Of course there are tons of people to thank but I would like to show special appreciation to one person in particular, Omar Periu. I cannot write enough words to express how much I admire, esteem and truly appreciate what this gentleman has done for me and my family. As a real estate investor I was not unlike many in that I knew plenty of strategies, techniques, tips, and all that is associated with Investing in Real Estate. The problem was I struggled putting everything together in order to make money. As you are reading this you may relate to my story, because I had all the knowledge I needed to be successful but I had very little success (money)behind all my knowledge. That is why I am writing this article because I want everyone to get a mentor. According to Webster's Dictionary a mentor can be defined as "a trusted counselor or guide, tutor or coach." Now that I have defined what a mentor is let me ask you a question, Do you have someone that fits the definition of a mentor behind you? If not, I will certaintly recommend Omar to anyone but deeper than that I want to encourage all real estate investors to get a mentor. Notice in the definition is mentioned the word "coach". I don't know about you but I played my fair shair of sports growing up including receiving a basketball scholarship in college. I remember some of the practices and extra work I would have to put in because I wanted to the best I could be. I always wanted to please my coach and for him to tell me I was getting better no matter if it took tough love or not. See, I take the same approach with my coach/mentor now in regards to business. When I get off track or need some advice I have a mentor there that cares about me and can take a third party look at my situation, whether it is a bad real estate deal, negotiating struggles, analyzing a deal, and so on. My point is I have someone and because of that I have reached success at lightning speed, quicker than I would have ever imagined. One of Omar's sayings in regards to a mentor is "when the student is ready the teacher will appear!" What a great concept and philosophy to have. My question to you would be "ARE YOU READY?" Are you coachable, or do you know it all already? Are you a self starter or do you need some motivation to get started? My challenge to you in writing this article is simple, do you have a mentor that challenges you to succeed, if not I would like to introduce the best one in the country to you right now. As a tribute for what he has done in my life I want to give back in any way possible to him because I feel it is the least I could do. If you are ready to experience tremendous growth in all aspects of your life, if you are coachable and willing to learn, and if you are sick and tired of not succeeding I want to introduce you to Omar Periu. His life story is amazing, his success is amazing and his wealth building systems are first class. Out of all the mentors and trainings that I have had nothing even compares to the level of Omar's. Take action today and look him up at http://www.omarperiu.com, I guarantee it will be life changing. He has products that range from negotiation strategies to networking fundamentals and even real estate courses. If you get an opportunity to see him speak your mindset on life and business will change. I want to end this article by saying "Thank you Mr. Periu for changing my life and giving me strategies and systems that produce results."

"Tell me you want and I'll show you how to get it" OMAR PERIU