Frequently asked questions
Q: What is wholesale buying and selling?
A: The simple answer is “buying cheap and selling cheap” with your profit mixed in there.
Q: What is Buying “subject to?”
A: Buying subject to is when the owner deeds you their property and you take over their payments.
Q: What is buying using an option?
A: An option is simply the right to purchase something at a specified price. A home owner allows you the right (but not the obligation) to buy their house at a specific price or terms.
Q: What is a “Lease Option”.
A: A lease option is simply a lease to rent at specific rent rate in addition to an option to purchase at a specific price Ie. (you negotiate a lease that makes you money, and you negotiate a sales price with profit built into it so you can profit when the house is sold.) Many ways to profit using a lease option. Multiple paydays, We love them!
Q: What is a short sale?
A: A short sale is when you negotiate with a persons lender to accept a steep discount for the owners property when the owner is facing foreclosure.
Q: What is buying a probate property?
A: Probate is when a person passes away and that property goes through a “probate process” . You can usually get a steep discount on a property b/c most heirs don’t want to be a landlord, or a real estate investor. This is when your negotiation skills come into play.
Q: What is buying a foreclosure?
A: Foreclosure is the banks “process” for reclaiming a property they loaned money against. There are many ways to make money on this strategy, before the bank takes it back (pre foreclosure) or after foreclosure. The bottom line is, banks are lenders not landlords and they get penalized for having negative properties on their books. They would often times rather take the loss than not be able to loan more money out. Money is their business.
Q: What is owner financing?
A: Owner financing is when the seller will finance your purchase in the form of accepting a contract for monthly payments instead getting all cash ‘at once’ for the property.
Q: What are sales and negotiation skills?
A: Every good investor knows how to talk to sellers and get them to accept an offer that allows the investor a profit. Its been said “you make your money when you buy”. That means for every dollar your able to negotiate a seller down, is a dollar that goes into your pocket.
Q: What is asset protection and buying using a land trust?
A: You have to protect your assets. You do this by not buying assets in your personal name and buy them under another “entity” which you control. Therefore the greedy people that want what you have are less likely to get to it if its outside of their reach.
Q: What is buying a discount note or mortgage?
A: This is called buying the paper. And you do for example by buying the agreement for a persons payments (at a discount) and collecting full payment plus interest on that “paper”. Buying paper is a very profitable strategy.
Q: What is buying a mobile home for investment all about?
A: A Lot of people don’t know this, but Warren Buffet is said to own the most mobile home parks in america. For a very good reason. They are cheap to buy and maintain, and get almost as much rent as an actual house.
Q: What is Rehabbing?
A: Rehabbing is buying a junker house and fixing it up ( ie. forcing appreciation). Selling it to a home owner, and making a very nice profit in between the 2 prices.
Q: What is automation and how does it apply to Real estate investing?
A: Every investor can benefit from automating at least some of their business if not all of it and having it run on autopilot. This allows the investor to have more free time with friends / family, or to allow them to develop other “streams” of income.
Q: I work a full time job of 40+ hours a week and have a family. Is it possible to still do real estate investing without taking away from these?
A: Yes, Absolutely! We do. We can show you how to set your business up to run using inexpensive automation techniques and how to outsource very cheaply so you can make the best use of your time. Some Investors have 2 or 3 or more businesses running at once and its possible due to automating certain parts and functions of their real estate investing.
Q: I’m a newbie. I don’t have my business set up yet but I want to go to the next level. Can you help or advise and assist me on setting up my business entity, websites, marketing plan, and help me put my business on autopilot?
A: Yes, Absolutely we can help you take your desire, or hobby real estate passion and make it a business. We can show you exactly how to automate it and outsource it for very low cost.
Q: Can you offer financing to help me get started?
A: Yes. We can offer financing to help you get started. We have broken down our Top tier coaching programs into bite size chunks so you don’t have a large out of pocket expense in the beginning of your career.
Q: I have some experience already in a particular strategy. But I would like to have a coach work with me to hone and polish my skills. Can you make a custom program to help me get going?
A: Yes. We can tailor our coaching to the student to help them where their at. Our goal is to not try to force students into something that doesn’t fit. We can coach on a daily, weekly, monthly, quarterly, or annual basis. Tell us what you need and we will help you get there.
Q: Can I work with you on a deal for a percentage of the profit minus expenses?
A: Yes. We offer an Internship type of scenario where you can work with us on a deal and you can learn while you work.
Q: What if I run out of time during my 30 day gig period, yet I still want to work with you. Can I order another block of time with you to continue learning?
A: Yes. The good news is when your 30 days are up and if you are still wanting more time to work on a particular gig you have ordered you can choose the “add to time” Gig which is a discounted rate. By purchasing another block of time you can pick up where you left off.
Q: I have scoured the internet and done my research and your rates are the best around. And the amount of money I can make from a deal makes it worth it for me to continue working with you long term. Can we work together indefinitely and can I have you in my back pocket?
A: LOL, yes you can keep me in your back pocket. In fact the rates were designed to be affordable because starting a new business takes time and money and I know from starting my own businesses that it can be a struggle. And I also know it helps to have access to someone who can answer your tough business questions because time is money and a deal shouldn’t have to fall through because your not sure what to say or do next. You can order Coaching gigs in perpetuity. In fact, if you know you want a long term coaching /mentoring relationship ask for a long term or annual rate discount.
So There you have it. Obviously there are even more ways to make money in real estate. But these are the most common.
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