Hear about different exit strategies you can use for just one deal. More and more opportunities are popping up in this economic crisis. As transactional engineers, be prepared so you can recognize which is the exit strategy that creates large equity or monthly cash flow!
In this episode, learn all about exit strategies; how to exit deals with the profit, about the importance of transfer disclosure statements, doing inspections upfront, and how to recognize a risky deal. Discover how to calculate MAO, when to list properties with realtors, and the difference between assigning contracts and double closing. They discuss how to approach a seller whose country store and two apartment addresses can’t be found.
Finally, gain skills on employee status versus contractor status when paying VAs or acquisitionists by the hour. Learn how to find leads.
00:00:00 – About a risky cash deal and how to calculate the MAO
00:03:10 – About employee status versus contractor status when paying VAs or acquisitionists by the hour
00:04:41 – Market update
00:07:34 – Process in regards to inspections when marketing for lease-purchase buyers and the importance of transfer disclosure statements and doing inspection upfront
00:17:35 – About a seller asking $350K for a nice house in Decatur, Georgia, wanting $50K to move and about listing the property with a realtor
00:19:55 – How to approach a seller whose country store and two apartment addresses can’t be found
00:23:17 – Using an amortization schedule for an owner-financed deal and how to get it reported to the credit bureau
00:26:35 – How to exit a cash deal in which seller wants $20k cash for a house in Kentucky that needs a lot of repairs and ARV is $160 and about assigning contract versus double closing and seller disclosure
00:39:11 – How to approach a seller whose family is concerned about staying on the deed with your LLC; about undivided interest in properties, wills and bank’s rights
00:43:50 – How to approach buyers who have a low monthly income; concerned as to whether they are going to be able to afford paying monthly payments
00:47:40 – Best way to find leads
00:50:09 – How to approach a deal involving two houses on one property
00:54:05 – Four or five solid exit strategies for a deal involving two houses on one property and best way to find rental comps
00:59:20 – About a client’s feedback on credit reports
01:01:00 – What is needed to figure out if a deal is decent or not
01:04:05 – About states reopening after lockdown, commercial real estate, and businesses for sale
01:06:11 – Wrap-up
About Blair:
Blair is the founder and creator of Dealbot, a motivated seller lead generation company. He has managed nearly $2mm in marketing spend and generated over 100,000 motivated seller leads. He also buys and sells houses himself in the Winston-Salem and Charlotte, NC markets. In the past year, he has acquired nearly $3mm in cash flowing rental properties with zero money out of his pocket.
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