We start of this flipping real estate/cold calling session with how to start on a shoe string budget.
I also talked about Cambridge Analytica.
If you have a family to feed today, things can get bad really quickly not just financially but with your emotional health.
There are some really cool tips in this session at we went in and made 120+ calls.
In addition to that, I covered the last 5 of the 7 sections or resource management lessons.
- Cold Calling vs Direct Mailing
- Doing it Vs Getting it Done
- 100% of Nothing Vs 30% of Something
- Knowledge Vs Execution
- Active Vs Passive
On this series, I am going to go live and do live prospecting as the gateway to flipping real estate for massive profits.
Flipping real estate basically starts with putting houses under contracts at 65% of its after repair value
Estimated cost of repair and selling the rights to the equitable interest in the property at 75% of its after repair value minus estimated cost of repair.
The spread between the 65% and 75% of the after repair value becomes your fee as a marketer and for securing these types of deals for real estate investors.
It’s your responsibility to use comparable (comps) to determine the after repair value of the property and to estimate the cost of repair.
Why would anyone want to sell you this properties at 65% and lower?
1. The property is distressed
2. The property ownership is distressed
3. All of the above and motivation to get rid of the property.
However the first step to flipping real estate is to find this deals. This is one of the most effective and cost effective strategy.
Cold calling and prospecting distressed home owners that are listed in public records such as preforeclosures, probates, tax defaults and more.
Enjoy watching as I demonstrate in this series.
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ABOUT YOUR HOST ::::|
Ola “Tux” Abitogun is the Creator of myEmpirePRO. He became a FULL TIME entrepreneur in October 2006.
He is a computer engineer and an engineering management graduate from New Jersey Institute of Technology; (NJIT) class of 2004/5. He was born in Dallas Texas and raised in Nigeria by his Nigerian parents. He considers himself a proud Nigerian American.
Today, he is a marketing addict, trainer, marketing and business consultant, real estate investor and all around serial entrepreneur. Most importantly, he is husband and father to their 2 Boys. The professional work he is mostly proud of is personally helping 1,000+ entrepreneurs around the world reach greater heights in their careers.
#myEmpirePRO #OLATuxAbitogun #FlippingRealEstate
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