Efnisyfirlit

• The Real Estate Wholesaling Bible: The Fastest, Easiest Way to Get Started in Real Estate Investing
• Copyright
• Contents
• Introduction
  • The Shrinking Middle Class in America
  • How I Got Started Investing in Real Estate
  • Why We Decided to Start Wholesaling
  • Set Skepticism Aside—It Will Hold You Back
  • Is This Book for You?
  • The Catalyst to a Better Life
• Chapter 1: Wholesaling Overview What’s in It for You?
  • The Benefits of Learning How to Wholesale Real Estate
    • Benefit #1: Profits Can Be Quick
    • Benefit #2: You Can Minimize Your Risk
    • Benefit #3: Having Bad Credit Is Not a Large Limiting Factor
    • Benefit #4: You Can Utilize Other People’s Money
    • Benefit #5: Time Freedom
    • Benefit #6: It Is Challenging, and Never Boring
    • Benefit #7: Wholesaling Is a Gateway to Other Real Estate Niches
  • Conclusion
• Chapter 2: Getting to Know Your Local Real Estate Market
  • The Importance of Gaining Intimate Local Market Knowledge
  • Step 1: Gain an Understanding of Local Market Metrics
  • Step 2: Get to Know Price Points of Properties by Neighborhood
  • Step 3: Understand Zoning Laws within the Market
  • Step 4: Study Your Competition
  • Step 5: Identify Key Real Estate Professionals in the Market
  • Set Your Focus
  • Conclusion
• Chapter 3: Establishing Your Marketing Presence
  • Foundational Marketing Materials
  • Business Cards
  • Seller Credibility Packet
  • Buyer Credibility Packet
  • Private Money Credibility Packet
  • Core Website
  • Facebook Page for Your Business
  • Easy-to-Remember Phone Number
  • Memorable Business Name
  • Logo and Business Color Schemes
  • Conclusion
• Chapter 4: Understanding the Pre-Foreclosure Process
  • Definition of Foreclosure and How to Learn Your State’s Process
  • Types of Foreclosure
    • Judicial Foreclosure
    • Nonjudicial Foreclosure
    • The Strict Foreclosure Process
  • Buying Properties from People in Foreclosure
  • Conclusion
• Chapter 5: Finding Pre-Foreclosure Properties
  • Finding Recent Pre-Foreclosure Property Filings
  • Conclusion
• Chapter 6: Finding Wholesale Deals Utilizing Direct Mail Campaigns
  • Step 1: Find the Best List
    • Pre-Foreclosure Property Owners
    • Out-of-State Landlords
    • Probates and Inherited Properties
    • Free-and-Clear Landlords
    • Expired Listings
    • Delinquent Property Tax List
  • Step 2: Decide How Many Times You Will Mail the Prospect
  • Step 3: Create a Spreadsheet to Track Your Mailings
  • Step 4: Determine What Types of Direct Mail Pieces You Will Use
    • Short Letters
    • Long Letters
    • Yellow Letters
    • Postcards
    • Lumpy Mail
  • Step 5: Craft a Compelling Message
    • Have a Compelling Headline
    • Be Empathetic
    • Offer Benefits
    • Call-to-Action
    • Your Contact Information
    • A Guarantee or Bold Promise
  • Step 6: Choose Postage
  • Step 7: Set Up Your Inbound System
  • Step 8: Fulfill Your Campaigns
  • Step 9: Note Response Rates
  • Conclusion
• Chapter 7: Finding Deals on the Multiple Listing Service
  • The MLS Offer System
    • Step 1: Filter and Find Potentially Distressed Properties
    • Step 2: Reach Out to the Listing Agent
    • Step 3: Run Comparables
    • Step 4: Walk Through the Property
    • Step 5: Drive by the Comparables to Determine the After-Repair Value
    • Step 6: Make an Offer
    • Step 7: Follow Up
  • Outsource Steps within the System
  • Conclusion
• Chapter 8: Finding Deals Utilizing Craigslist
  • Searching for Properties under the “Real Estate for Sale” Section
  • Searching for Properties by Keyword
  • Contacting Landlords Who are Renting Properties
  • Contacting People Having Estate Sales
  • Creating Advertisements That Get People to Contact You
  • Creating a Compelling Ad Title/Headline
  • Using Symbols to Make Your Title/Headline Stand Out
  • What the Body of Your Advertisement Should Communicate
    • Image Ads versus Text Ads
    • Reposting Your Ads
    • Boost Your Account’s Reputation
    • Getting Flagged
  • Conclusion
• Chapter 9: Other Killer Ways to Find Profitable Real Estate Deals
  • Purchasing Internet Leads
  • Questions to Ask about Purchasing Internet Leads
  • Facebook
  • Facebook Ads
  • Other Real Estate Professionals and Investors
  • Door Hangers
  • Bus Bench Advertising
  • Banners
  • Vehicle Wraps
  • Car Magnets
  • Billboards
  • Television Advertising
  • Conclusion
• Chapter 10: Overview of How to Value Real Estate
  • The Cost Approach
  • The Income Approach
  • The Sales Comparison Approach
  • A Word of Caution
  • Always Determine the Highest and Best Use of the Property
  • Your Goal as a Wholesaler When Making Offers
  • Conclusion
• Chapter 11: Deal Evaluation System Stage 1: Gathering Information
  • Vital Information to Gather in Stage 1
    • Seller’s Contact Information
    • Realtor’s Contact Information
    • General Property Information
    • Current Status of an Owner-Occupied Property
    • Current Status of a Vacant Property
    • Current Status of a Rental Property
    • Listing Information
    • Property Condition and Repairs Needed
    • The Seller’s Motivation
    • Current Debt against the Property
    • Terms of the Underlying Loan(s)
    • The Seller’s Bottom-Line Price
  • Recommended Tools to Gather and Track Information
    • Seller Lead Sheet: Script to Gather Information
    • CRM/Database: To Track All Your Leads and Information
  • Conclusion
• Chapter 12: Deal Evaluation System Stage 2: The Desktop Evaluation
  • Step 1: Confirm the Property Details By Reviewing the Property Card
  • Step 2: Pull the Listing Sheet If the Property Is Listed with an Agent
  • Step 3: Understand What You Are Trying to Determine with the Sales Comparison Approach
  • Step 4: Find the Best Comparables Using the Multiple Listing Service
  • Step 5: Look for Off-Market Comparables
  • Step 6: Analyze the Sold Comparables to Determine Whether the Property Is Worth Visiting
    • Steps to Take When Working Directly with the Seller and It Doesn’t Look Like a Good Deal
    • Steps to Take When Working Directly with the Seller and It Looks Like a Good Deal
    • Steps to Take When the Property Is Listed by a Real Estate Agent
  • Step 7: Classify Your Leads
  • Step 8: Prepare Your Comparable Package
  • Step 9: Prepare Your Buying Appointment Package
  • Conclusion
• Chapter 13: Deal Evaluation System Stage 3: The Property Visit
  • Filling Out the Comparable Sales Adjustment Grid
  • Performing Drive-by Inspections of the Subject Property and Comparables
  • Examining Comparables That Are Active and on Deposit
  • Making Adjustments
  • Calculating Adjustments
  • Conclusion
• Chapter 14: Estimating Repairs on Properties
  • Repair Cost Is a Critical Number You Need to Make the Right Offer
  • Our System to Estimate Repairs
  • Exterior Repairs
    • Roof
    • Gutters
    • Siding/Stucco
    • Windows
    • Paint
    • Garage Repair
    • Landscaping
    • Pools
    • Fences
    • Decks
  • Interior Repairs
    • Kitchen
    • Bathrooms
    • Flooring
    • Sheetrock/Drywall
  • Mechanicals
    • Plumbing
    • Electrical
    • HVAC
  • Other
    • Permits
    • Dumpsters
    • Miscellaneous
  • Things That Can Greatly Enhance the Value of a Property
  • Conclusion
• Chapter 15: Negotiating and Making Offers to Sellers
  • Negotiate with Confidence
  • Step 1: Uncover the Seller’s True Needs and Desires
  • Step 2: Research the Seller or Agent You’re Negotiating With
  • Step 3: Know What You Are Offering Before Meeting with the Seller
  • Step 4: Walk Through the Property
  • Step 5: Build Rapport and Dive Deeper into the Seller’s Motivating Factors
  • Step 6: Explain How You Can Help the Seller
  • Step 7: Frame Your Offer
  • Step 8: Handle Objections Effectively
  • Step 9: Sign the Purchase and Sale Agreement
  • Conclusion
• Chapter 16: Understanding Purchase and Sale Agreements
  • Parties Involved
  • Description of Real Estate
  • Personal Property Included in the Sale Price
  • Purchase Price and Financing
  • Where Deposits Are Held
  • Financing Contingency
  • Condition of Premises
  • Inspection Contingencies
  • Statement Regarding Lead-Based Paint
  • Occupancy, Possession, and Closing Date
  • Deed Type
  • Marketable Title
  • Adjustments
  • Buyer’s Default Clause
  • Seller’s Default Clause
  • Risk of Loss and Damage
  • Addendums
  • Broker/Agent Fees
  • Time to Accept
  • Conclusion
• Chapter 17: How to Get the Money for Your Wholesale Deals
  • Conclusion
• Chapter 18: Working with Private Lenders
  • What Exactly Is “Private Money”?
  • How Is the Lender Protected?
  • Turning People into Private Money Lenders
  • Finding Existing Private Money Lenders
  • Can You Openly Advertise for Private Money Lenders?
  • Meeting with the Lender for the First Time
  • Conclusion
• Chapter 19: Working with Transactional Lenders and Hard-Money Lenders
  • What Is Transactional Funding?
  • Hard-Money Lending
  • When You Will Use a Hard-Money Lender in Wholesaling
  • Know the Terms
  • Qualifying for a Hard-Money Loan
  • Locating Hard-Money and Transactional Lenders
  • Conclusion
• Chapter 20: Building a Trophy Database of Buyers
  • How You Can Leverage a Database
  • You Must Have Software to Build a Trophy Database
  • Conclusion
• Chapter 21: Networking to Find Buyers
  • Strategic Networking Opportunities
    • Auctions
    • Local REIA and Landlord Association Meetings
    • Chamber of Commerce and Business Networking Groups
    • Home/Trade Shows
    • Social Media
    • Hosting Your Own Events
  • Networking with Other Real Estate Professionals
    • Hard-Money Lenders
    • Other Wholesalers
    • Real Estate Agents
    • Mortgage Brokers
    • Contractors
    • Section 8
    • Property Management Companies
  • How to Build Relationships and Stand Out from the Crowd
  • Conclusion
• Chapter 22: Direct Response Marketing Strategies to Find Buyers
  • Craigslist, Backpage, and Other Online-Classified-Ad Websites
  • Facebook Real Estate Groups
  • Company Website
  • Lead-Generation Pages (Squeeze Pages)
  • Penny Saver Newspapers
  • Reaching Out to Your Competition
  • Cash Buyers
  • Conclusion
• Chapter 23: Marketing Your Wholesale Deal
  • Make Sure Your Trophy Database Is Organized
  • Assemble the Critical Information into a Wholesale Deal Marketing Package
  • Call Your Most Serious Buyers First
  • E-Mail Blasts
  • Text Blasting
  • Voice Broadcasting
  • What If You Have a Deal to Sell But Don’t Have a Buyers’ List?
  • Conclusion
• Chapter 24: Classifying, Prescreening, and Communicating with Buyers
  • Classify Buyers within Your Trophy Database
  • The Importance of Prescreening Buyers
  • What to Do When Buyers Contact You
  • What You Need to Know About a Buyer
  • Communicating Properly and Training Your Wholesale Buyers
  • Conclusion
• Chapter 25: Working and Negotiating with Buyers
  • Know the Comparable Sales in the Area
  • Have an Accurate Repair Cost
  • Create a Sense of Urgency
  • Common Negotiating Techniques Buyers Use
  • What if the Buyer Thinks You’re Making Too Much?
  • Confirm Funding
  • Case Study
  • Conclusion
• Chapter 26: How You Profit Selling a Contract
  • What Does It Mean to “Sell a Contract”?
  • Completing the Assignment of Real Estate Purchase and Sale Agreement
  • How Do You Get Paid?
  • Coordinating the Closing
  • Common Questions
  • Which Is the Better Exit Strategy: Selling a Contractor Double Closing?
  • Common Misconceptions about Wholesaling
  • Conclusion
• Chapter 27: How You Profit Double Closing
  • What Is a Double Closing?
  • Signing the First Purchase and Sale Agreement on the A-B Transaction
  • Signing the Second Purchase and Sale Agreement on the B-C Transaction
  • Know How the Buyer in the B-C Transaction Is Planning on Funding the Deal Before You Sign a Second P
  • What Else to Look for from Your C Buyer
  • Don’t Pass Funding Through
  • Always Have Legal Counsel
  • Conclusion
• Chapter 28: The Real Estate Closing Process
  • Who Handles the Escrow and Closing?
  • What Is Required to Open Escrow?
  • Who Selects the Escrow Company?
  • Are You Opening One Escrow or Two?
  • What Happens During Escrow?
  • How Do You Prepare for Closing?
  • What Can Cause Delays During the Closing Process?
  • What to Check the Day Before Closing
  • What Takes Place at the Closing?
  • How to Ensure There Are No Snags the Day of Closing
  • Hiring Someone to Help You Process Your Wholesale Deals
  • Conclusion
• Chapter 29: Building Your Local Team
  • Real Estate Agents
  • Locating the Top Agents in Your Market
  • Hard-Money Lenders
  • Mortgage Brokers
  • Insurance Agents
  • Title Agent/Real Estate Attorney
  • Contractors
  • Conclusion
• Chapter 30: Building Your Business Advisory Team
  • Real Estate Coaches
  • Marketing Mentors
  • Negotiation and Sales Mentors
  • Business Management Mentors
  • Legal Mentors
  • Tax Mentors
  • Mastermind Group
  • Conclusion
• Chapter 31: The Path of Smart Growth
  • Preparing for Growth
  • Managing Your Time
  • Developing Systems
  • Growing at a Sustainable Pace
  • Integrating Technology into Your Business Management Systems
  • Hiring Employees and Scaling Your Business
  • Constantly Improving Your Leadership Skills
• Index

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