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Don’t Quit Your Real Estate Investing Dream

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By Tamera Aragon

Today, I wanted to share one message – Don’t Quit! That’s it. Don’t Give up! Wherever you’re at, whatever you are doing, If you have a dream or a goal and a life that just might seem too hard today… I am writing to tell you – Don’t quit!

Please enjoy the five-minute excerpt from the movie, ‘Facing the Giants’, it’s a piece of inspiration for anyone that is in the real estate investing game.

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In this video, a football coach teaches a valuable lesson about the limits we place on ourselves. And how important it is for you to NEVER GIVE UP as others watch you, as a leader.

Have you ever felt…. “I’m successful at my day job, but I’m failing at my new venture…” Then you will want to learn this mindset reset tip offered by my friend Doug.

“Sam had always been pretty good at most things she attempted, she was also great at her job, so when she was introduced to a money making opportunity, she figured ‘why not?’”

After investing a lot of time and money, Sam still wasn’t seeing the rewards she felt she’d been promised by the promoter. She said she knew there were other people that were creating success following the same things she’d learned, so she’d concluded that she must not be cut out for it. “I’d better just quit, I’ll never get the hang of this, I’m a failure” she complained.

I invited her to consider shifting her perspective on the matter. “Rather than assuming you’re a failure, would it be more correct to say that you’re a person with many successes under your belt who hasn’t yet mastered this particular skill?” She hesitated, “uh, yeah I guess that’s right.”

I could see the gears turning, so I went on, “and what would happen if rather than assuming you’re failing at this new venture, you decided your results were just feedback telling you what changes you need to make.” “What do you mean?”, she asked.

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I went on, “have you ever slipped on an icy sidewalk before?” “Yes, I’ve done that” she said sheepishly. I continued, “So did you conclude you’d failed at walking and that because of that you yourself were a failure so you should just probably hang the towel up on everything?” “Of course not, that would be silly,” she laughed.

“When you’re right, you’re right,” I smiled. “Whether you realize it or not, you implemented the feedback you got from the ice. You thought, hey, there’s slippery ice on the sidewalk and adjusted how you walked. Perhaps you stepped more carefully. Maybe you grabbed some sand or salt and spread that over the ice. Maybe you got off the sidewalk and walked around the ice. The point is, you changed what you were doing and successfully got to where you were going.”

Armed with this new perspective, Sam proceeded to pay careful attention to what she was doing and tracked her results. She then considered what things she could adjust that would affect her outcome, and get her the result she wanted. By implementing one change at a time to and tracking her activities, eventually, she figured out what tweaks she needed to make to achieve her outcome.

Remember, there is no failure, there’s only feedback.” ~ Doug O

In closing, here are some powerful words from the man whose life displayed this “don’t quit” attitude wholeheartedly…. Winston Churchill left us with these words of wisdom:

“Never give in. Never give in. Never, never, never, never—in nothing, great or small, large or petty—never give in, except to convictions of honor and good sense. Never yield to force. Never yield to the apparently overwhelming might of the enemy.”

Be Inspired…..

Tamera Aragon

Tamera Aragon is a professional online entrepreneur and has bought and sold over 300 properties, establishing her as an expert in the real estate investing field. Since 2003, she has purchased over 10 million dollars in real estate and currently holds properties all over the world. Tamera’s focus is on the booming Foreclosure market, buying Pre-foreclosures, REOs and Short Sales. Tamera who is a noted Author, Success Trainer, Speaker & Coach, shows her passion for helping others with the 17 websites she has created and several specialized products to support fellow investors throughout the world. When Tamara is not busy running her website, she is very involved with her Fiji joint ventures and investments. Tamera Aragon is one of the few trainers and coaches who is really “doing it” successfully in today’s market. Tamera’s experience has earned her a solid reputation in the industry as well as the respect and friendship of many of the top national real estate investment and internet marketing experts. Tamera Aragon believes her success has garnered her the financial freedom to fully enjoy her marriage and spend quality time with her children.

Learn live and in real-time with Realty411. Be sure to register for our next virtual and in-person events. For all the details, please visit Realty411Expo.com or our Eventbrite landing page, CLICK HERE.

REO’s (Real Estate Owned) Investing Explained

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By Tamera Aragon

Let’s explore a real estate investing niche that could bring you riches: REO’s (Real Estate Owned By The Bank). It’s formed from the third and final stage of the foreclosure process. An REO property is created when no one purchases the house at the auction, forcing the bank to buy the property back itself. Remember the bank didn’t want the house back, but the property was the collateral for the money lent to the homeowner. The property now becomes “Real Estate Owned” meaning- it’s 100% owned by the bank. REO investment properties can present many profitable opportunities for real estate investors.

Why Is Investing in REOs a Good Niche to Consider?

  1. Below Market Value – One of the prime benefits of buying a REO property is most REO properties are available at below market value. The reason for this is that the bank is liable for the taxes on the property and they generally prefer to sell it to you at below market value and get it off their books.
  2. REOs are a Nightmare to Lenders. Property taxes, city and county assessments, utility bills, and maintenance costs eat into the lender’s profit. The threat of vandalism and illegal occupancy requires that lenders board up REO windows and doors. Often times lenders must hire security services to watch over REOs to keep out trespassers. For these reasons, lenders are often eager to sell REOs quickly.
  3. You are Buying Property Free and Clear of Liens – once you close, you receive clean title policy without exception.
  4. No Back Taxes – banks have paid everything at closing.
  5. House is Most Often Vacant – I can go there as much as I want before I close.
  6. Clear Equity Value – You do not have to argue about “correct” amount of equity with the homeowner.
  7. Minimum Risk – Among the different types of bank foreclosed properties – pre-foreclosures, foreclosure at auctions or HUD foreclosures – REOs offer the buyer the least amount of investment risk. REOs are generally properties that have survived a foreclosure auction and now belong in the lender’s inventory of non-performing assets. The banks maintain these properties and are generally sold free of liens and other encumbrances. This is why you would use a title company to insure the property in case a lien as later found.
  8. Availability – Compared to other foreclosure properties, REOs are easier to locate. All you need to do is to contact any Real Estate Agent who will send you current listings. You might also go online to mortgage companies or banks directly. You can usually find a list of REOs in your area online if there are any. Pick an area and start buying every good deal in sight. 🙂
  9. Potential for Great ROI (Return on Investment) – Reselling a foreclosure home can provide a great return on your investment. You may not be interested in buying a foreclosure property for yourself, but you still have the option to make a profit by reselling it. After all, this has been the most frequent practice used by many real estate agents to generate income. Moreover, a little renovation work can further add to the value of the property and generate higher returns.

Buying REO’s is one of the best ways to generate profit in the real estate market today. However, before you finalize your purchase, make sure you do your due diligence and research the property so you feel comfortable with the purchase. It’s important to research as much as you can about the area, current housing prices, planned developments, proximity to stores, the town, etc. This research can save you many headaches and problems down the road. The research required and other steps to succeed in this niche should be supplied to you by your mentor, trainer and coach.

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What Are The Downsides of Investing in REOs?

  1. While there are bargains to be found, REO properties don’t always sell below market value. The bank will always do a BPO (a kind of appraisal) and often the person doing this property appraisal is from out of town and does not completely understand the market.
  2. It can be difficult dealing with bank-owned properties as some lenders are in offices far away from where the loss-mitigation department is struggling to process the listings and getting everyone in sync on your end can be a challenge. Today’s REO’s are almost always handled by the bank hired Real Estate Agent who would be accepting your offer from another agent or representing you in the process.
  3. The investor must be careful when looking at bank owned property to know what the real value of the property is. The bank owned property might not be a great bargain. Be sure and include a time for inspection in your offer contract and do your homework before finalizing. Make sure that the price you pay (if you’re successful in getting offer accepted) is comparable to other homes in the neighborhood. Consider the costs of renovation, including time to complete them. Don’t get caught up in a bidding war and pay more than you should.

Good Market Conditions:

  • A lot of houses on the market
  • Average time on the market for houses is 4 months or longer
  • Depreciating Market
  • Large number of foreclosures

Bad Market Conditions:

  • Low inventory of Houses
  • Average time on the market for houses is 3 months or less
  • Appreciating Market
  • Low number of foreclosures

10 STEPS TO INVEST IN REO NICHE

1. You must find the right buyer’s agent to work with you on finding properties. If you are going to employ the services of your own real estate agent (a buyer’s agent) be sure to find one based on the following criteria:

2. Ask Realtor for a list of all REO properties with some recommendations for good deals.

3. Ask Realtor to contact you first when they know of an impending listing giving you chance to make an offer before it hits the market.

4. Before finalizing your offer, have your agent contact the listing agent and ask the following:

  • Are there any inspection reports?
  • What work has the bank agreed to?
  • Is there a special “as is” form?
  • How long does it take the bank to accept an offer?
  • How does your agent deliver the offer

5. Make an offer.

Your offer should include an inspection contingency period that allows you to terminate the sale if the inspections reveal unanticipated damages that the bank will not correct. Even though you agreed to purchase property “as is,” always give the bank another opportunity to make repairs or give you a credit after you’ve completed your inspections. Sometimes the bank will re-negotiate to save the transaction instead of putting the property back on the market.

Banks do not want to see a lot of proprietary disclosures; For instance, they are exempt from the California Sellers Transfer Disclosure Statement (TDS-14). If there are real estate agents involved, either representing you or the bank, those agents are required to provide you their disclosure statements.

Offers are usually FAXED to the bank. The listing agent needs your originals. There is no formal presentation. Keep in mind: nothing happens evenings and weekends (banks are closed).

6. Since there is no face-to-face presentation to the bank, provide the listing agent with a pre-qualification or better yet, a pre-approval letter along with proof of funds and copy of down payment check. A cover letter adds a nice touch as well. You should make your offer easy to accept.

7. Wait for bank to counter or accept offer.

8. Negotiate terms until a profitable offer is accepted by the bank in writing. (Do not spend money on property until you see a written acceptance by the bank)

9. Close on the property

10. Sell or Rent property for profit.

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Where to Obtain REO leads:

  • Search Public Records:
    In various stages of the foreclosure process, notices are recorded with the County Clerk at your County Recorder’s Office. This information is public record and is available to anyone. Just visit your county’s office and you can search for a Notice of Default (NOD), Lis Pendens or for a Notice of Sale. The best part of searching public records yourself is that it is Free. In addition, you’re likely to find newly posted properties that haven’t yet reached many of the online foreclosure data providers.
  • Find Asset Managers:
    You can also find REO properties through Asset Management companies. Simply put, these companies help lenders dispose of assets. Many of these asset management companies will provide listings of the REO properties that they represent on their website.
  • Find Government Foreclosures:
    The government can also foreclose on properties. Good place to start is www.hud.gov.
  • Make contacts at local community banks who take in their own REO’s and make friends with the person who oversees the sales of them. Many smaller banks don’t have as many REO’s therefore, don’t send out to other companies to handle.
  • MLS: This is the most common way to find REO’s today is this way. After a property has been foreclosed on and taken back by the bank, they are usually listed with a Realtor on the Multiple Listing Service (MLS). .With the number of foreclosures banks are holding right now and most are not handling their REO’s sales in-house. In fact it is nearly impossible to purchase 1 single REO from a large bank, let alone going in with millions of dollars offering cash for bulks of them. I personally have not been able to get through to the big banks directly to buy REO’s for the past 18 months as of the time of this training. This is the source I have used most successfully in today’s market.

This concludes my article on Investing in Real Estate Owned by the Bank (REO’s)

Tamera Aragon

Tamera Aragon is a professional online entrepreneur and has bought and sold over 300 properties, establishing her as an expert in the real estate investing field. Since 2003, she has purchased over 10 million dollars in real estate and currently holds properties all over the world. Tamera’s focus is on the booming Foreclosure market, buying Pre-foreclosures, REOs and Short Sales. Tamera who is a noted Author, Success Trainer, Speaker & Coach, shows her passion for helping others with the 17 websites she has created and several specialized products to support fellow investors throughout the world. When Tamara is not busy running her website, she is very involved with her Fiji joint ventures and investments. Tamera Aragon is one of the few trainers and coaches who is really “doing it” successfully in today’s market. Tamera’s experience has earned her a solid reputation in the industry as well as the respect and friendship of many of the top national real estate investment and internet marketing experts. Tamera Aragon believes her success has garnered her the financial freedom to fully enjoy her marriage and spend quality time with her children.

Learn live and in real-time with Realty411. Be sure to register for our next virtual and in-person events. For all the details, please visit Realty411Expo.com or our Eventbrite landing page, CLICK HERE.

Do I Have to Network to Succeed in Real Estate Investing?

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Image from Pixabay

By Tamera Aragon

Yes! I know you may have wanted a different answer, but this is the honest truth. Networking is such an important part of your business. You must introduce yourself and let others know what you are doing. Everyone can be a referral resource for you… and you for them.

The best book I’ve read to help me to become more comfortable with the idea of networking is called ‘How to Win Friends and Influence People’ by Dale Carnegie. It’s a great book that helps you to understand why you need to network with others as well as teaching you exactly how and what to say when you meet with new contacts.

Throughout my own 30 years of owning several businesses, (W0W – Am I that old?!), I can honestly say personal networking has been the most effective … and the most fun way to market myself!

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How to Network Your Way to REI Success

As a real estate investor, where can you reach out to network your business?

1) Search Real Estate Investor Clubs in Your Area.

2) Check meetings and trainings for local Real Estate Associations.

3) Check meetings and trainings at local Title Companies.

4) Check on handyman, builders and contractor associations in your area.

5) Ask everyone you talk to for referrals for networking events that have worked for them.

6) Of course chamber events and networking clubs that meet at breakfast and lunch are a general source to get to know the general public.

What do I say? Just remember the acronym F.R.I.E.N.D.S.

I know the biggest fear and reason many people don’t attend networking events is they don’t know how to approach or what to say to others when first meeting them. I am going to give you a script that will be easy for you to memorize…

Image from Pixabay

For every person you come in contact with at any type of networking meeting, your conversation might go something like this: Just remember the acronym FRIENDS:

F is for Forthright. Be forthright in reaching out and saying hi. Don’t wait for others to come to you.

“Hi there, my name’s __________. What’s your name?”

R is for Remember. You need to first always remember to ask them their name.

Ask for their card – and them hand them yours.

I is for Income. Ask them what they do for a living? How do they make their income?

“Say their name, and ask “What is it that you do?”

E is for Everyone. Everyone likes to talk about themselves.

Ask questions like, “How long have you been doing this?” or “What do you like most about what you do?”

N is for New Business. No matter if the person you are talking to has an occupation that is real estate related or not, you will want to find ways you both can support each other .

Ask : “What sort of clientele could I refer to bring you additional new business?

D is for Determine. After listening for possible ways to support each other, Determine where to take this relationship from this point.

S is for SUMMARIZE: When the time comes to share what you do, be prepared! Have a 30 second summary of what it is you could say to leave an impression on your new friend.

1) Hand everyone you network with your business card.

2) Summarize your business in 30 seconds or less. This is where spending time writing down how you want to market you and your business is important. You want to be concise and clear in describing what you do and what types of referrals would be most helpful. Try to incorporate something that differentiates you from the rest?

SAMPLE: REI 30 Second Commercials

6 Important Things to ALWAYS REMEMBER When Networking;

  1. The important thing is that you are interested in what they do for a living.
  2. Don’t talk about yourself until asked or the timing is right.
  3. Ask them questions about their occupation and how you can be of support to them in their line of work.
  4. If this person is a potential power team member for you, ask if you could contact them in the future. (You would be able to follow your list of questions for power team members and take notes when you called them back)
  5. Make sure to collect a card from everyone you meet
  6. Make sure you have their email address, fax, cell, and correct spelling of first and last name. (Write on the back of the card if any of this information is missing – it shows your interested!)

Questions To Ask When You Meet Real Estate Investors

  • “Do you buy, fix and sell or do you buy and hold?”
  • “How many properties do you own and/or have you sold?”
  • “What part of town do you invest in?”
  • “Really, why that area?”
  • “What do properties cost in that area?
  • “Do you pay cash for them or what banks do you use that are investor friendly?”
  • “What title company do you enjoy using the most?”
  • “Do you know any of the other people here?”
  • “Who are the big investors in this area?”
  • “If you ever come across some good deals and you don’t want them let me know.”
  • “By the way, do you have any property you want to sell?”
  • “We sometimes have properties for sale as well, if you’re looking to increase your inventory.”
  • “Well, Mr. /Ms. Investor based on what you told me and where you prefer to buy; if anything comes along I’ll make sure to call you first”.

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Final Important Points To Maximize Your Networking

Always write notes on the back of business cards you collect, helping you remember the next steps you will want to take with this contact in the future. Often times, just a “nice meeting you” card in the mail or email can be seen as a memorable gesture encouraging future communication to support each other’s business needs.

… as you get in front of people and

NETWORK YOUR WAY TO REI SUCCESS!

Tamera Aragon

Tamera Aragon is a professional online entrepreneur and has bought and sold over 300 properties, establishing her as an expert in the real estate investing field. Since 2003, she has purchased over 10 million dollars in real estate and currently holds properties all over the world. Tamera’s focus is on the booming Foreclosure market, buying Pre-foreclosures, REOs and Short Sales. Tamera who is a noted Author, Success Trainer, Speaker & Coach, shows her passion for helping others with the 17 websites she has created and several specialized products to support fellow investors throughout the world. When Tamara is not busy running her website, she is very involved with her Fiji joint ventures and investments. Tamera Aragon is one of the few trainers and coaches who is really “doing it” successfully in today’s market. Tamera’s experience has earned her a solid reputation in the industry as well as the respect and friendship of many of the top national real estate investment and internet marketing experts. Tamera Aragon believes her success has garnered her the financial freedom to fully enjoy her marriage and spend quality time with her children.

Learn live and in real-time with Realty411. Be sure to register for our next virtual and in-person events. For all the details, please visit Realty411Expo.com or our Eventbrite landing page, CLICK HERE.

How Do I Know What A Property Is Worth?

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Image from Pixabay

By Tamera Aragon

In considering the price to pay for a property, the first step you must take is to know the ARV (After Repair Value), of a property. Of course there are other costs to consider in buying and selling but it all starts here…The value of the property.

I know I get this question a lot…

Question: “How do I value the property I am interested in?”

I want to start by sharing that comps, or comparables, are regarded as the single-best tool in determining a home’s value. Comps will compare criteria from recently-sold properties in a neighborhood, such as sale price, age of house, size, and square footage and come up with an average value based on these elements.

I like to look at the last 90 days SOLDS and use ½ mile radius at most when considering comps around a property I am looking to value.

On a side note, for easy online access to the information I am sharing here anytime, go to this website where you will find a ton of other FREE tools and resources catering to real estate investors.

So… back to the original question…

Answer: COMPS! You need to use comps to come up with value. This is what the banks use to come up with how much they loan. This is what appraisers use. This is the common way to come up with base valuation of property.

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2nd Question: So you next question I get is, “Where do I find good comps?

Some of you reading this might be a Realtor and have easy access to comps.

However, others who are not Realtors, finding good comps is not so easy. And I know I hated to bother my Realtor to have to look up comps when I am making 20+ offers a day.

2nd Answer: So here ya go…here are some free resources that will help you in getting started in valuing a property using some simple online tools.

NOTE: Most of these sites include the value of a mortgage when it goes into Foreclosure as a sale, which can make these numbers skewed from facts. Be aware of this. However, these are good starting points and can be used in your initial evaluation.

  • Most popular – Zillow – www.Zillow.com who owns the term, “ZESTIMATE”. You just type in the address and their value comes up. If you want to learn how they come up with their Zestimate, go here: www.zillow.com/wikipages/What-is-a-Zestimate
  • NEW – In Beta Form- Find Comps Now – www.FindCompsNow.com Seems to utilize Zillow yet lists the properties used to come up with estimate but adds some interesting features like separating out the cash buyers’ purchases from those who were purchased with mortgages.
  • Offers Comps plus Property Operating Data Tool – Finest Expert
  • Connected to most MLS Services – www.Realtor.com
  • Most Comprehensive – Redfin – www.redfin.com Study showed they had 100% of all homes listed by compared to others.
  • Easy Sort feature to weed out comps that don’t apply (Foreclosures, too old, too far).Trulia – www.Trulia.com Do not just take the value shown.

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Follow these Instructions to get the best free comps from Trulia.

  1. Go to: www.Trulia.com
  2. Type in the address, city, state and if possible, the zip code for the property you need to run comps.
  3. Wait for small box on right to pop up and click on the words “view details” inside that box
  4. On this page look for tabs about 1” down – one says comparables – click on that tab
  5. On this page ignore the comps you see and scroll to the very bottom of the screen and click on the words view more comparables
  6. On this page you will see a tab for “Solds” and a tab for “For Sales”. These are the comps you want
  7. Note: This site also takes into account properties the bank has taken back at full price owed because they buy these on the court steps. Therefore, ignore the property prices that are out of line with the majority.
  8. Put properties in order of proximity by clicking the “proximity” tab and then clicking the arrow. This puts properties in order of how close they are to your
  9. Use the Per Square Foot price located on the right side.
  10. Average the Per Square Foot price by adding up those located a mile or less from the property and averaging the number by how many properties you added up. Example:
  11. 10 properties added up to be $1000.00
  12. Divide 10 properties by the $1000.00 total and that means the property you are researching is worth $100 psf (per square foot)
  13. Multiply this per square foot price by the square footage of your subject property.

Image from Pixabay

Again, there are many other factors to consider when looking to buy a property for investment services, (More on this in future blog posts.)

Are you interested in real estate investing?

Be sure to click on the link below to take advantage of many that I use in my REI biz.

On a side note, for easy online access to the information I am sharing here anytime, go to this website where you will find a ton of other FREE tools and resources catering to real estate investors.

If you have any other ideas, experiences or questions about using and finding comps, please leave me a comment below! It’s great to have the interaction and appreciate hearing from you.

TAMERA ARAGON

Tamera Aragon is a professional online entrepreneur and has bought and sold over 300 properties, establishing her as an expert in the real estate investing field. Since 2003, she has purchased over 10 million dollars in real estate and currently holds properties all over the world. Tamera’s focus is on the booming Foreclosure market, buying Pre-foreclosures, REOs and Short Sales. Tamera who is a noted Author, Success Trainer, Speaker & Coach, shows her passion for helping others with the 17 websites she has created and several specialized products to support fellow investors throughout the world. When Tamara is not busy running her website, she is very involved with her Fiji joint ventures and investments. Tamera Aragon is one of the few trainers and coaches who is really “doing it” successfully in today’s market. Tamera’s experience has earned her a solid reputation in the industry as well as the respect and friendship of many of the top national real estate investment and internet marketing experts. Tamera Aragon believes her success has garnered her the financial freedom to fully enjoy her marriage and spend quality time with her children.

Learn live and in real-time with Realty411. Be sure to register for our next virtual and in-person events. For all the details, please visit Realty411Expo.com or our Eventbrite landing page, CLICK HERE.

Classified Ads Marketing Strategies For Investors

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Image from Pixabay

By Tamera Aragon

“Doing business without advertising is like winking at a girl in the dark. You know what you are doing, but nobody else does.” ~ Steuart Henderson Britt

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Classified ads are a good cost /effective way to reach property sellers in Pre-foreclosure, and Pre-default. Secondary niches who you will find contact you from your ads are Absentee Owners, Probate and bankruptcy. Classified ads are also good for selling any type of property.

Classified Real Estate Marketing Keys to Success:

  • Ensure that your headlines command attention and virtually DEMAND that your prospects take action.
  • You have to be UNIQUE. What do you have or do that makes you stand out from the chatter of the ever-increasing crowd?
  • Write as you speak rather than as a professional “Report Writer”.
  • Don’t sell the prevention, sell the cure. As Jay Abraham says, “Nobody wants the 1/4 inch drill. What they want is a 1/4 inch hole.”
  • Take all the risk away from a buying decision by making an IRON-CLAD guarantee & STICK to it.
  • Cover concerns and likely objections of your TARGET audience.
  • Test your copy and your advertisements before you start to roll them out on a large scale.

Remember…Suspect = Prospect = Customer = Client = Raving Fan…and maybe even a friend.

Classified Advertising Estimated Costs

Image from Pixabay

Print Ads: The costs for print classified ads are not cheap. But when we look are our ROI, (Return on Investment), this form of advertising makes us money. We spend about $800 a month which is also $10,000 a year on newspaper ads and we bring in an average of 4 deals a year netting us $100k annually. That is getting my money back 10 times!!!

Online Ads: There are many online classified ad spaces to place your ads and many are free. I always place my property on Craigslist.org and Backpage.com. To get your information out to many online advertising resources very quickly, I recommend a free service at www.postlets.com.

Print Classified Advertising Steps Involved

Here are the steps to follow in placing print classified ads:

  • Website searches: www.newspapers.com or Search the term “newspapers” by your city, state online via Google or Yahoo.
  • Personal Touch: Contact the Chamber for your niche city and ask for information on Main Newspapers and smaller Neighborhood Newspapers like the Penny Saver or Fickle Nickel; etc…and get the Name, Phone Number and Website address’s for each one.
  • Then look at the each newspaper under real estate wanted & Real Estate Finance/Services. Check out what other investors are doing.
  • Call all the newspapers and find out the following:
    • Circulation: where does the paper go and how many are delivered
    • Ask if they have any special days or sections catered to real estate. For instance, our paper is Wednesday and Sundays.
    • What is the cost for an ad you have created to run 1 week? You can work with them on making changes to the ad to get the price down.
    • Ask if they have any specials available right now. If so what?
    • Create your ad with the representative on the phone
    • Be sure and ask for proof prior to printing if at all possible.

Image from Pixabay

  • Run an ad for 1 month in the most popular print ad spaces. This will allow you to really understand what kind of response you get. You can do 1 at a time or do 2 to 3 at once (depending on how busy you want to be and your budget
  • When you get calls always do the following:
    • Answer the phone. Or if you can’t answer the phone, it would be best to use an answering service.
    • Keep track of your leads by asking where the seller saw your add
    • Also ask the seller: “What was it about my ad that made them want to call me.”
  • If you not receiving any calls it could be that the ad you placed is the reason. At this point it is best to tweak the ad a little and put it back out there.
  • Once you do the tracking for a month see which one brought in the most leads and stick with that one.
  • Repeat the process when necessary.

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Sample Classified Real Estate Ads

I bet you have these burning questions on your mind: So what actually do you advertise or How should my ad look? Here are a few sample ads that have worked for me!

SAMPLES: FOR RENT OR RENT TO OWN

*SW 215/Durango*
RENT or RENT-2-OWN
3bd/2.5ba + loft $1485mo.
Call 380-7848

Why rent when you can
RENT 2 OWN!
Bad Credit ok!
5 bedroom/2 bath
Newly Remodeled.
Granite Fireplace
Hardwood Floors
10% down/ $1495/mo.
Call Now! xxx-xxx

*SW 215/Durango*
Lease 2 Own
3bd/2.5ba + loft
$5000/down $1485/mo.
$200/mo credit towards
purchase Call 380-7848

AIRPORT *Brand New!
4/2, 1965sf, pool, park,
Tennis +upgrades, $7000
Down, $1695mo$200/mo

2725 Telegraph Ave
Lease 2 Own
3bd/1ba. Built-in pool.
$15K/down $1600/mo.
$300/mo credit towards
Purchase. Call 649-7586

2725 Telegraph Ave
Lease 2 Own
3bd/1ba. Built-in pool.
$15K/down $1600/mo.
$300/mo credit towards
purchase. Bad Credit ok.
Call 649-7586

SAMPLE: FOR SALE 100K and Under

ONLY $69K – CALL TODAY!
OWNER MUST SELL.
Fixer upper. Large Lot.
Hazelton and Fresno
in Stockton.
Make Offer. Xxx-xxxx

SAMPLE: FOR SALE 100-200K

Don’t Pass. It Won’t Last!
MUST SELL! Newly Remodeled.
4Bed 3Bath. 2 story
Covered Patio, Built in BBQ
Hardwood & Tile Floors
Otto & Estate Area
$189K or BO 209-957-6971

Don’t Pass. It Won’t Last!
MUST SELL! Newly Remodeled.
5 Bedrooms 2 Bathroom. Covered Patio.
Granite Fireplace. Hardwood Floors.
Lower Sacramento & Hammer Lane
$149K. Make an offer! Xxx-xxx

Need a home to call your Own?
4 bedroom/2 bath
Newly Remodeled.
Tile Floors, build in BBQ
Owner must sell! xxx-xxxx

SAMPLE: MARKETING YOUR BUSINESS

Image from Pixabay

Newspaper Section – Real Estate or Finance/Services

I’ll Buy or Lease Your House Within 48 Hours or Tell You Why No One Else Will
Ask for Marge xxx-xxx-xxxx
We’ll Buy Your Home Today!!!
Don’t Make Another Payment
Ask for Mark xxx-xxx-xxxx
Do You Own An Unwanted Home?
Free Consultation
Sell Today
Call Dave xxx-xxx-xxxx
Kristie Buys Houses
Immediate Debt Relief
Locally Owned and Operated
xxx-xxx-xxxx

Newspaper Section – Wanted Real Estate

Payment Assistance
We Buy and Lease Houses
Don’t Delay, Call Today
Bryson xxx-xxx-xxxx

Behind on Payments?
Need Immediate Help?
Call today for free consultation
xxx-xxx-xxxx
Area Specialist Buys Real Estate
Little or No Equity OK
Cash or Terms
Prices Quoted By Phone
Dana xxx-xxx-xxxx

Payment Assistance
We Buy and Lease Houses
Don’t Delay Call Today
Bryson xxx-xxx-xxxx

Can’t Sell Your House?
Behind on Payments
Little or No Equity?
I can Help!
Call Jordan xxx-xxx-xxxx
Free Report
How to Sell Your Home in 3 Days or Less
Any Area or Condition
AC xxx-xxx-xxxx
Real Estate Workouts
Problem Ownership is My Specialty
Call Roscoe xxx-xxx-xxxx

Corporate Leases Needed
Your Home May Qualify
Don’t Make Another Payment
Ask for Perry xxx-xxx-xxxx

Newspaper Section – Financial/Real Estate Services

Immediate Debt Relief

Stuck with a house payment you can’t afford?
Stuck with a house you no longer want?
Call Sue @ 777-444-1111

NEED TO SELL FAST?
I BUY HOUSES
CASH TERMS OR TAKE OVER PAYMENTS
RAPID DEBT RELIEF
CALL: xxx-xxxx

0 stress, 0 cost to you. Sell for cash in 72 hours.
Foreclosure OK. We can even help you move.
Husband/Wife team in CA since ’80.
Extensive references. Call John & Judy, xxx-xxxx

CASH FOR HOUSES
In 48 Hours!
Any area, price or condition
Call xxx-xxx-xxxx

Newspaper Section – Homes Wanted to Buy

Executive investor wants to buy a nice home
in a nice area on a lease purchase option.
Call Tom @ 777-444-1111

Want out? Give us a shout�
We buy houses
Phone number
Website address

Classified Ads Conclusion

These are just a few ideas that I hope will get you going in the right direction understanding the key to receiving any kind of leads is “advertising”. Important Real Estate Adverting Tip: Ads should be in the local newspaper everyday. (You cant catch any fish if your line is not in the water). Classified ads are a good inexpensive way to do just that. Spread the news!

TAMERA ARAGON

Tamera Aragon is a professional online entrepreneur and has bought and sold over 300 properties, establishing her as an expert in the real estate investing field. Since 2003, she has purchased over 10 million dollars in real estate and currently holds properties all over the world. Tamera’s focus is on the booming Foreclosure market, buying Pre-foreclosures, REOs and Short Sales. Tamera who is a noted Author, Success Trainer, Speaker & Coach, shows her passion for helping others with the 17 websites she has created and several specialized products to support fellow investors throughout the world. When Tamara is not busy running her website, she is very involved with her Fiji joint ventures and investments. Tamera Aragon is one of the few trainers and coaches who is really “doing it” successfully in today’s market. Tamera’s experience has earned her a solid reputation in the industry as well as the respect and friendship of many of the top national real estate investment and internet marketing experts. Tamera Aragon believes her success has garnered her the financial freedom to fully enjoy her marriage and spend quality time with her children.

Learn live and in real-time with Realty411. Be sure to register for our next virtual and in-person events. For all the details, please visit Realty411Expo.com or our Eventbrite landing page, CLICK HERE.

Probate Real Estate Investing Niche Secrets Unlocked

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Image from Pixabay

By Tamera Aragon

Are you scratching your head – Probate Real Estate Investing – What exactly is that? Probate is the court supervised legal process that includes determining the validity of your will, gathering assets (including real estate), paying debts, taxes, and the expenses of will administration, and then distributing the remaining assets to those persons entitled to them. This process commonly takes a few months to a year. “Probate” real estate investing provides opportunities for discounted properties because the person who is left to handle the assets often must sell the real estate they were left with.

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Benefits Of Investing In Probate Properties

There are many 5 main benefits for why this is a good niche to consider as a real estate investor.

Bargain Basement Prices: The probate market is full of tremendous properties you can snap up for 30% to 50% below market value. Resell quickly and capture a lifetime of gains within days. It’s the ultimate buy low/sell high scenario.

Huge Inventory: There are almost 6 million estates in probate, with assets worth trillions of dollars. Every type of real estate – from houses to beach front motels – are in probate.

Buyer’s Market: Purchasing property out of an estate assures you of a highly motivated seller. Most beneficiaries are anxious to sell the house (and other unwanted assets) so that they can pay off debts attached to the estate that must all be settled before the estate can be distributed.

Image from Pixabay

All Kinds of Treasures: in addition to real estate you’ll find, classic cars, fine jewelry, antiques, art, toys, collectibles, and much more enter into probate every day. Millions of items. And they can sit there for years unless you rescue them.

It’s a Investing Secret: Few people know how to find and purchase property from an estate. Even the beneficiaries don’t know how to sell. That means, you’ll be the first one on the scene because you have little or no competition from other buyer’s – plus you’re helping anxious sellers.

Disadvantages Of Investing In Probate Properties

No real estate investing niche or specialty is without its own set of unique risks. Probate investing does have a few cons I want to share with you. So what are downsides of this niche?

Finding Leads Is Time Consuming: Most counties you have to go to the court house and read through files to get probate leads and information this information is not available on line or from leads lists to purchase.

Executors Can Be Difficult To Talk With: The executor is usually a very close relative to the person that just died: wife, mother, father, sister and they are mourning their loss and can be difficult to talk with. One has to be very sensitive to the situation.

All Heirs Of The Will Need To Agree: Many times there are many heirs of a will and getting them to all agree to sell to you at the price you want may be challenging.

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Market Conditions For Probate Investing

Good Market Conditions

  • Property is located in a flat or declining market
  • Large City where there are more options
  • In a city where there is a good % of retired and elderly population

Bad Market Conditions

  • In an up market
  • Small town
  • In a city where there is a very small % of retired and elderly population

Steps Involved For Investing In Probate Properties

Image from Pixabay

  1. Get a newspaper and look at the legal notice section that lists the announcements of an estate. This is where the administrator, personal representative, executor is named (depending on the state you are in, the above will be one of the names for the person in charge of the estate).
  2. Get a file number on any probate case from the ad
  3. Contact govt office and find out where probates are filed in area where person lived.
  4. Take file number (s) and go to the county office where probates are filed.
  5. Go the office where probates are filed and ask, for example, “Where do I find information on case number 2454059i843” – The case number you took from the newspaper. They will direct you where to go and who to talk to.
  6. Go to the file room and ask to view the file in question.
    The above process is to get you to the file room and to get you talking with someone and building some type of rapport. Once you are directed to the files and know how to look through them, follow these next steps.
  7. You will need to look for aged files, at least 2 to 3 months old because these will be the files that have an inventory sheet that will tell you in one minute if the case has any real estate.
  8. Once you have a file with real estate you will need to get the contact information for the PR (PERSONAL REPRESENTATIVE), it is all in the file.
  9. You will next need to identify all the heirs of the estate and gather all their names and addresses in case you will need to contact them in the future.
  10. Once you have gathered this information, you will send personal hand written letters to the PR
  11. After one letter, wait 1 week and call the PR to see where they are at with the situation.
  12. If it is determined the seller is motivated, and if local, you will want to meet all heirs to finalize contract. If not local, mail the contract with a nice cover letter.
  13. Negotiate and Sign Contract
  14. Sell or Rent Property for profit

Image from Pixabay

Where To Find Probate Property Leads

  1. Probate Attorneys
  2. Newspaper
  3. Local Government Office

TAMERA ARAGON

Tamera Aragon is a professional online entrepreneur and has bought and sold over 300 properties, establishing her as an expert in the real estate investing field. Since 2003, she has purchased over 10 million dollars in real estate and currently holds properties all over the world. Tamera’s focus is on the booming Foreclosure market, buying Pre-foreclosures, REOs and Short Sales. Tamera who is a noted Author, Success Trainer, Speaker & Coach, shows her passion for helping others with the 17 websites she has created and several specialized products to support fellow investors throughout the world. When Tamara is not busy running her website, she is very involved with her Fiji joint ventures and investments. Tamera Aragon is one of the few trainers and coaches who is really “doing it” successfully in today’s market. Tamera’s experience has earned her a solid reputation in the industry as well as the respect and friendship of many of the top national real estate investment and internet marketing experts. Tamera Aragon believes her success has garnered her the financial freedom to fully enjoy her marriage and spend quality time with her children.

Learn live and in real-time with Realty411. Be sure to register for our next virtual and in-person events. For all the details, please visit Realty411Expo.com or our Eventbrite landing page, CLICK HERE.

Focus and You Will Succeed

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Image from Pixabay

By Tamera Aragon

“Success is a tireless expenditure of narrowly focused energy”
– Author Unknown

The definition of Focus: A condition in which something can be clearly apprehended or perceived.

Do you agree that it can be very difficult to get focused on what it is you would like to accomplish in this life? Do you get pulled this way and that depending on which way the wind is blowing that day? This may be because you are not “narrowly focused”.

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In working with so many students for real estate training and coaching, I have found the lack of ability to focus and stay on task to be the number 1 reason for not just failure, but also for some not even getting to the point of doing the real estate investing business. They don’t even get to the point of trying to invest in real estate because they stop. People often lose focus.

For example, a student, (lets call him Johnny), commits to coaching with complete confidence. His personal goal is to make $10K in the next 60 days in real estate investing. Johnny starts listening to the trainings and going through the motions, focusing on his goal for maybe a week or 2. Then Johnny hears about a great training on how to buy Silver for cheap (or some other investing strategy that is also good). So Johnny buys that training and starts listening to that training too. Buying that training has now taken the focus of the real estate training, committing him to failure in both goals!

Image from Pixabay

Focus is crucial to success.

“Always remember, your focus determines your reality.”
Qui-Gon to Anakin, Star Wars Episode I

It’s so easy to blame external circumstances for failure, when in reality the reason for our failure is this missing link; Narrowly focus energy on a single goal. People get too spread out trying to accomplish too much for too many. The only blame for lack of success is that someone went on to something else by their own choosing and decision. Focus is a choice.

Not only is focus important, but focusing on only one goal at a time key to your success. Trying to accomplish multiple goals spreads out your focus, and makes it less likely that you’ll complete any of them.

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How To Stay Focused

Even with only one goal, maintaining focus can be difficult. Therefore, you need to find ways to keep your focus on that goal.

Some good examples that work for me:

1. Read about your goal as much as possible, on websites and blogs and in books and magazines.
2. Post up picture of what you want on your wall, refrigerator, and computer desktop.
3. Send yourself messages using an online calendar or reminder service.
4. Tell as many people as possible about your goal and post your progress on your blog.
5. Have a time each day to work on a single goal, with a reminder in your schedule each day to do only that for a period of time, no exceptions.

Maintain your focus on your goal, and you’ve won half the battle in achieving it.

TAMERA ARAGON

Tamera Aragon is a professional online entrepreneur and has bought and sold over 300 properties, establishing her as an expert in the real estate investing field. Since 2003, she has purchased over 10 million dollars in real estate and currently holds properties all over the world. Tamera’s focus is on the booming Foreclosure market, buying Pre-foreclosures, REOs and Short Sales. Tamera who is a noted Author, Success Trainer, Speaker & Coach, shows her passion for helping others with the 17 websites she has created and several specialized products to support fellow investors throughout the world. When Tamara is not busy running her website, she is very involved with her Fiji joint ventures and investments. Tamera Aragon is one of the few trainers and coaches who is really “doing it” successfully in today’s market. Tamera’s experience has earned her a solid reputation in the industry as well as the respect and friendship of many of the top national real estate investment and internet marketing experts. Tamera Aragon believes her success has garnered her the financial freedom to fully enjoy her marriage and spend quality time with her children.

Learn live and in real-time with Realty411. Be sure to register for our next virtual and in-person events. For all the details, please visit Realty411Expo.com or our Eventbrite landing page, CLICK HERE.