30 Days Quick Cash Formula

Hi Zuzzle!

I see someone mentioned and Skype-- one of my daughters tours with a band and we just recently started using Skype. I did not even sign-up with Skype, but she was able to call me (from her computer) whenever she was hooked-up. WE have AT&T and iphones and the calling plan was way too expensive, so the Skype worked great with only her having been "signed-up".

You will also see reference (by awaterloo, aka Alex) in this thread about Google Voice. Since Google is international maybe you look into using a GV phone number to call US and get calls from the US. Let us know how you work this out.

As for markets in the US. America is On Sale! As Dean would say, so Buy Buy Buy!

If you would like to partner up in Las Vegas, I'm sure we could find deals that you can sell to people in the UK-- I am still working on getting my property management referrals together, but we can work it out immediately if need be.

We're rockin clear to the UK-- woohoo!

Can anyone tell me if the formula above applies even if, one, (Step #7) you have NOT had the opportunity yet to see or inspect the property, and two, (Step #9) your exit strategy is NOT lease option, but, rather, wholesale or double closing? Would you use this formula anyway?
Thanks.
Barbara

When trying to find a good agent,my advice would be to contact a Real Estate company and ask for the manager or who runs the office.Tell him or her your an investor and you would like them to refer someone to you.You would like someone with at least 2-5 sales under their belt.Let them know that you will be making many offers on properties and that this will give them the needed experience that they need to become a better agent.(this makes you look like a more seasoned investor)Let them know the price range you will be looking at.Always say that your looking for houses in the mid range of 100-200 thousand dollars.After you have an agent that you like then you can tell them what ever price you like. Keep in mind that even though cheap properties sell quickly,that their usually in bad areas.Places most of us would not want to be with out some back up.lol Also let the manager know that your always looking for good deals and if he or she would keep a look out for you on any deals that pass their way.(This way you have 2 people looking out for your interest in their office.)You would want to repeat this process to 2 or 3 other different companies until you get the results you need.

Hi,

You were awesome in the Saturday 8/6/11 Webinar!

This thread is awesome too-- you Vets must be so proud of all the info you have passed down and the ACTION taking place here. You might wish Dean had this for you, but I bet you also wouldn't trade the experiences you have had along the way.

I believe Nate Street, Carol and you are the coaches that have commented on Michelle's thread, here, but if I could speak for all of us we welcome any comments, corrections or pointers ya'll might want to ad.

btw, as of today, it seems "we" are unofficially officially called the RBBP 2011 Team!

Thank you so much DG Coaches!

Good point Kris. The RBBP tells us to ask the Receptionist, but asking for the manager could be a great way, particularly when you get the "blank stare" from the receptionist like I did on the first couple of calls.

And, doing so doubles your work by having 2 people in that office looking for you--

Thanks! See Kris'(aka in.vestor) post #317

I woke up this morning feeling nervous about finding my RE Agent. I knew I had to follow through. I was so impressed with the logic of using trulia.com that I tested both cold calls and trulia. Total of at least 12 agents I spoke with. Hands down trulia proved more effective. All discussions were easier than I thought they would be( no one jumped through the phone to attack me!) The cold calls proved more tedious in questions and explaining myself. Only one of the six proved possibly fruitfull. On the other hand via trulia I put my simple message out there, very specific of what I was looking for and waited all of 15 minutes and responses started. I have been on the phone from 8:30 until 1:30 est. For some reason the agents via trulia seemed to take me more seriously, which I am. Even when we concluded they were not the right fit it was very professional. I am awaitng the information I requested from 4 on trulia and 1 via cold call. I also chose to disclose very directly to two agents my detailed plan and experience level to test their response. I clearly stated that my purchase offers were to be assignment of contract and they knew exactly what it meant, and one stated the only problem will be when a lender does not allow. Don't mean to be long winded. This is just a baby step of success, but the positive reinforcement of ideas and sharing of knowledge is what makes this forum so special. Thanks to all. Much to still do but at this stage action is what counts, and overcoming fears. Best to all.

Mike

Hey all,

Barbara has some good questions. And, as I welcomed the Vets and Coaches Nate, Carol and Andrea & Chip to the thread, I re-read Post #30 and I believe that was from Dave W (also a Vet and Coach).

Barbara, Dave's letter is a little different than the letters in the RBBP. I'm sure Dave's letter is fantastic, but you're right it has specifics in it. Why not go back to the RBBP page by page lessons and use the letters verbatim in there until we get going and learn more? Or just modify the #30 letter to your specific circumstances-- I think it is rather UNimportant which exit strategy we talk about; we are just trying to get a Agent to work with and each deal will be a little different.

We're all learning together--
Tina

Hi everyone,

My package just arrived and I am sssooo excited!
Going to the website now...

Hi Peter,

Good news on hitting the jackpot with an agent that knew what you were talking about. Keep us posted.

One thing I wanted to mention was we all have to remember the difference between asking for a "list of Cash Buyers" and asking for a "list of Cash Sales". There are several good references throughout this thread about the difference (sorry I have lost track of exactly which posts) but it is basically:
1) if we ask for a list of Cash Buyers, we put the REA on guard; they do not want to give us their client list / names
2) if we ask for a list of Cash Sales [in a recent timeframe] then the REA is not disclosing their privileged info, and should be willing to provide it if they are a team player

Also, in this post and in our RBBP lessons (Pg 2 of our course) there is reference how to "teach" an agent how to get the cash sales off the MLS.

Go Team RBBP 2001!

Go Mike!

Thank you! I was going to try both as well.... still doing cold calls to RE Offices, but I got sidetracked with a Cash Sales list. So going offline (this is addictive, I've never been a 'post-er" before) back to work!

I will try Trulia, too!

Hi Bill--
You're in LV? I think there are 3 of us now. Mark and I. We'll have to get together and share / team-up and spread out, yeah?

OK, back to work on RBBP!

Many mistakes that new investors make is not knowing what to say to Real Estate agents.Pretend agents are your kids and dominate the conversation when first talking to them.Let them know you are an agressive investor and they can either do what you require of them or you will find another.Agents are like fish in the ocean.You must be in control at all times.All so be nice but firm.
Before you pick your agent you need to ask them 2 questions;
1. I need to speak with the owner of the property before we make a deal.Will this be a problem?(this allows you to present your deal to the owner direct.Find out what they need to make this deal happen.Think outside the box.Listen to the seller carefully and see what arraignements he might be willing to accept.This will save you a lot of time and you will close more deals this way.)It helps to be able to explain the advantages of what your offering.People are inclined to say no by instinct.This way you can take no out of the equation.Real Estate agents are messengers not deal makers.Make your time count.
2.Ask agent if he or she will take a note in lieu of her payment?(Most agents are going to say no right off the bat because they don't have clue what a note is or what it does.After you have done your homework on notes you can explain the advantages of accepting a note.After all she doesn't get paid unless you make the deal.)Notes are every investors bazooka's in the business.Don't get Notes confused with the guys on TV.They are the same but your writing them and the guys on TV are trying to find the notes you write to sell and make money with.Notes allow you to conjure up money from thin air just by writing an agreement between you and the seller.Notes are as good if not better in some cases than using assignment of contract.(Notes are something you have to learn and work with in order to use them in your deals.After you have learned notes you will always use the techniques in all your real estate deals.)Notes teach you how to think outside the box.If you would like to learn about notes,try Eddie Speed.Google him,he taught me and he's one of the best in the business.
These forms that your copying and pasting,I hope your changing them up some.Most forms RE agents already have and you can always ask for a blank to use for your own purpose.(Don't use it with their info on it,just change it.Many new copier,scanners have OCR built into them now )I have found that if I don't have a form that meets what I'm trying to do get one off the internet.These are wrote correctly and their probably going to be something your client has seen before.One wrong quote or misrepresented text could be trouble for your deal.Well I hope I haven't bored you.
Kris

Hello everybody!!!

Today, I have been following up with the people on my buyers list. I have 3 of them. This is actually a lot of fun following up with these people. They have been pretty receptive and responsive to what I have asked them and letting me know EXACTLY what they want. Here is a copy of my follow up email that I have sent to my 3 list.

NOTE: ***To save time I only sent out 3 emails. I simply took everybody's email address and added them to the BCC field of the email. I can reach everybody at once but they can't see who I sent the email to. That way I sent out only 3 emails, otherwise it would be around 20 emails I'd have to send.

Here is a copy of the email that I sent:

Good Afternoon!

I just wanted to keep you updated on my progress. I have heard back on the majority of the offers I submitted, unfortunately they have been declined. I do have another batch of offers going out mostly the end of this week and going into the beginning of next week. I'll keep you posted on those and the remaining offer I have out currently.

If there is anything you are looking for specifically right now, let me know, I'll include them in this week's offers. The areas that I am write offers on are in, xxxxxx, xxxxx, xxxxxx, xxxxxx, and xxxxxx.

I'll be in touch,
Alex Waterloo

I got immediate responses back from 2 buyers and told me to included offers for homes fitting the criteria they are looking for today.

Its really amazing how these people don't feel bothered or are not hesitant at all to tell you what they are looking for.

Has anybody else started to work on following up with buyers?

Alex

I forgot to give you the reason for the 2 questions.These 2 questions will make you stand out from the others.The agent will put thought into your questions and ask other agents about this later.You will always look more professional and for those of you that are new to investing this is the hurttle you have to overcome.Remember RE agents are to be led not lead you.Get them to do your bidding the best way possible.Once you have done this you will be on your way to success.
Kris

I was thinking about this and I wonder if you both couldn't just use Google voice to get a US phone number?

Hey guys,

Just wanted to update you guys about my results for a ghost ad I put up yesterday. I got an email from a guy who does not appear to be a RE investor so that didn't work out. And then I got a call from a lady who asked me where the property is. I told her the deal is no longer available, and I asked her if she wanted me to notify her of future deals, but she politely declined. What I'm thinking is that she's either trying to look for a specific area where she can buy cheap properties herself, or she's also looking to put deals together. Any other thoughts?

I got caught off guard with the call, so I definitely need to practice more on my 2-minute investor pitch to make it flow better in a conversation. Lesson learned: ask more questions about what the caller actually wants. This is not my first mistake, and won't be my last, but it should never repeat!

Gonna attend a Real Estate Investment Club meeting tonight, wish me luck

You are on fire today!! You have great questions and responses to everybody's post today. I especially love that you have a group of people in Vegas that you are trying to round up and get together. Awesome! We have 3 of us so far in Chicago that are going to meet up next week. Keep up the great work, its awesome!!

To answer your question about sorting through all the tax information....

The best thing I did was turned it into an "assembly line" I would have my list of addresses and I'd just crank through and look everybody up. As I looked everybody up, I just printed out the page that had the owners info. From there, I just went and addressed the envelops and put business cards in them and dropped them in the mail.

Literally, it was as simple as that.

I followed the Trulia suggestion and have two brokers I will follow up with. I got four answers within ten minutes. One broker already wants to connect me with other investors. I can't freeze in my track as I'm picking up speed in getting this going.

Thanks ever so much for this suggestion and ALL the outstanding information on this thread. The support here is wonderful.

Success to all!

This is the question I put on the Trulia site:

Is there an agent (who is investor friendly) that could send me a list of cash sales in the Chicago area in the past 120 days. Looking for an agent that thinks a bit differnt to work with.

The two answers I got that stood out for me were:

"From an investor perspective, sounds like you are seeking to network with private lenders who possibly funded the cash deals. Like the strategy and could refer a few to you if you are interested."
AND-
"Hey there-
I am happy to put together a list for you. I assume you are looking to invest yourself and are doing some comparison. Are you looking for a list of the entire city or do you prefer it being broken down into various geographic areas.

Contact me directly so that I may better understand what it is you are looking for."

I will respond and see if they are worthy to work with.

The other two- just for the record:
"Yes I can, but there are A LOT of them. Are there any areas in particular that interest you. You said you are looking for an agent that thinks a bit different. How do you want the agent to think?"
AND-
"Not sure what a list of cash sales(vs financed sales) in the entire Chicago area will do for you,but it can be done. Is there ary other criteria that matters."

I should respond to them just to see where they will take me, or I will take them!

Suggestions and comments are always appreciated.

Soccer Guy from LA update.
I see the awesome cooperation going on between the Las Vegans (is that the right word, if not who cares, I think it is funny) and so it is time us Los Angelenos team up! So if anyone else is out there from in the Los Angeles area PM me and/or respond in this thread. I'm just getting going and am on Page 1 of the 30DQCF and am awaiting my first emailed lists from REAs.

I think I'll wrap Page 1 tonight and start on Page 2 tomorrow. I've only called 5 offices thus far but 3 REAs have appeared real good, one seems OK and doesn't seem too optimistic about REI in his area and one (first call) was negative. So three good ones out of five isn't too bad. Now I just need some listings from them all.

But I'd really love to form an LA/SoCal 30DQCF club of sorts where we could work together in this huge market and perhaps meet up on occasion.

Joy and Prosperity to you all, there is plenty of Abundance to go around for everyone so don't be afraid to share and to cooperate,
Soccer Guy in LA

Thanks Alex, I will find the efficiencies in the sort and let you all know the method I landed on.

Oh, and thanks-- I AM fired up!

Wheels up, let's go!
That is what you pilots say, yeah?

Soccer Guy,
What the heck find and bring some SoCal folks and come to Vegas. I'm a California girl anyway-- let's bridge the gap and do deals all the way in between. JHolden is in San Diego, and she and I are going to team up.

I keep forgetting I am not a post-er, but I am so excited.... back to work. I gotta show you guys some progress by tonight

If anyone's interested, I'm a member of a social site for investors... it's free, and there's over 100,000 investors there. The reason I suggest it here, is they have a feature that you put in a zip code and it gives you cash buyers and/or investors in that area on a map...

http://get.connectedinvestors.com/?invitation=reitv

I go there a lot. (again, it's free)

Nick

When I put in an offer with my REA:

1) My REA will send the paperwork? I don't need my own forms?

2) What contingencies/clauses do you put in?

3) (As a newbie) What do suggest I say to close...30, 60, or 90 days?

4) Any resistance from the $1 EM like Matt Larson does?

5) If the offer is accepted, then they cash my EM check, how do I get that $ back? Do I just work it in my #s? or does my Cash Buyer pay that back to me?

Thanks so much!

I have just started the 30 Days to Quick Cash program.

I reached out to my first RE agent and he asked me specifically why I needed the cash buyers list and what it would do for me. How should I respond to that question?

Also, he tried to tell me that the cash buyers list would be proprietary, confidential information. Is he right?

When you can get an agent to get you the "cash buyers list" from MLS, are they giving you actual NAMES of the people who paid cash? Or are they giving you a list of the properties that were paid for with cash?

Hey Tina, thanks for taking time and responding my post. I went to set up my Google Voice, but when I tried to set up it showed ''Thanks for visiting Google Voice. We're not yet open for users outside the US, but are planning to expand our service to additional countries in the future''

- So what other option would be possible with the phone?

- Will the fact to RE agent be ok, that I am investor from United Kingdom willing to invest in US market and I have international phone number. Or our communication way would be through email, so it wouldn't be that expensive for us to communicate to each other.

I am confused about this and any response to this would be really appreciated.

Thanks and take care every one.

P.S. want to make my calls, but this thing that I am having international phone number struggles me.

Hi all,
I am in AZ. I have just started the RBBP and taking the first step. So far, I have talked to four different agents.

According to the agents I have spoken to... It seems that AZ market is having a different experience than other areas of the nation. All of them informed me that the inventory in the market is very low (one said that Phoenix valley only has one week inventory), the competition is high and it is a sellers market. AZ got heat hard in the economy and the low price is attracting buyers from all over the country and world.

Is there anyone in DG family doing deals in Phoenix area? I would love to hear your experiences and opinion. How are you making it work here? Do you find any deals through MLS?

Two out of four agents followed up with an e-mail.

One sent an active MLS listing and I followed up with him with an e-mail as suggested in the program (asking for list of cash buyer, etc).

Another agent sent me a list of closed properties he helped his clients to flip... showing how much they've made and how quick. I asked for 6-8 good deals from active listing. He said there is none. He said he helps his clients buy from trustee sale and that is the only way investors can make a spread... not 20 - 25K but majority makes 15K. Trustee sale sounds interesting but... Does anyone know if auction would work for the assignment strategy? If this won't work for me this time, what do I tell the agent?

I may have to make more calls to find the right REA. None of them made me feel like they are the right one yet...

Looking forward to feedback from gracious DG family!

Hey Joe V,

If you are going through the RBBP course material, you will run across these subjects, but I think you're right we have to go though our notes from the books and videos to get all the details.

I believe Matt said he usually uses $1 earnest money, but he did the example with $10. In questioning that myself I found that what is important is getting the offers out there-- put the amount you feel is reasonable for the deal on the offer when it is accepted. That could be $1, $10, $200, $500 or if it is the house of your dreams $2000.
It's a negotiable point and it seems we can do much smaller dollar amounts than we might have expected. I'm going for a dollar-- if they laugh at me, I'll laugh with them then figure out what to do.

If I recall Matt tells us that we do not re-coop our EM when a deal goes through, so write into your deal with your buyer. If we back out of an offer before expiration, we do get it back.

It is my understanding that we need not worry about the details.... just work, work, work on building our buyers list, then getting uber deals to come to us, then put em together.

If there is an agent involved they will handle the paperwork. See awaterloo's post of his videos above; he has one regarding efficient paperwork that is what Matt teaches, as well.

Closing days is a combo of what your buyer wants, the seller needs and is probably best on a case by case-- I believe we are striving to close faster than anyone in our strategy with motivated / desperate sellers.

Here is what you can tell your REA. I copied it from earlier posting from Awaterloo. He is very insightful!

"Just tell him that you need all the cash sales in the are because this is going to help you further develop your investment strategy."

In my opinion, it is not proprietary or confidential information. If your REA is not willing to run the list for you, I would dare to say that you do not have investor-friendly agent. Maybe you should look for another one?

Michelle, I know what you mean. I'm also an agent but I was debating if I should be my own or find one that can do the work for me. I just got the RBBP and I am so excited to start!! Best of luck!!

Melissa