Special Operations Mastery Event June 16. Review Money Tasks Vs. Optimization Tasks Special Operations Mastery Event 2013

Special Operations

Mastery Event

June 16

Review

Money TasksVs.

Optimization Tasks

Special Operations Mastery Event 2013

Optimize Profit

• Buying Criteria• IRAs• Private Money• Outsourcing• Fortris Rehab Network


Optimize Profit

• Trailer Conversion• Cashing in on Overages•Markets for Buying• Generational Wealth


Buying Criteria

Deeds• 60% of repaired value minus

repairs cost• Don’t have to pay more, keep

looking• Residential or Commercial


Buying Criteria

Liens to Redeem and pay int• 30% of estimated value• Residential or Commercial


Buying Criteria

Liens to Become Deeds•% of estimated value depends–Luzerne 225k value 19k tax–Newburg NY 395k value 150k tax

• Residential or Commercial


Investing With IRA

• REAL Self-Directed Custodian– Camaplan.com

• Roth or Regular• Check Writing• LLCs owned by IRA


Investing With IRA

• Saves a TON of MONEY in taxes whether you are flipping or holding• UBIT• Self Dealing


Investing With IRA

• How to invest with IRA–Fill Form–Don’t mingle money–Proceeds back to IRA–Income to IRA (rentals)


Private Money

• Don’t Take It Lightly• Don’t Sign Personally• They Need to Make Adult Decisions

About the Deal• ALWAYS SECURE THE MONEY• Get them Out Soon, Don’t Drift


Private Money

Common Arrangement• They lend for Interest• They partner in deal• You Fly they Buy, split profit–How many of these do you need to

be independent?


Private Money

How to Present• Balance Info, Not Too Much • Price, Repairs, Value, Repaired

Comparable sales, Comparable Actives• One Page for Specific Deal


Private Money

How to Present• If you have no deals, Forget the

Credibility Kit. Waste of Time


Private Money

How to Transact• Private money Instruction letter to

Attorney (example)• They Preview Note beforehand• Even if partner, secure money with note• Prevents Problems


Private Money

Summary• It’s only Leverage if used correctly• You better know what you’re doing• Get Experienced Partner• Private Money uses IRAs


Outsourcing

CAN BE HUGE MONEY MAKER • Leverage Labor for tasks that

help you make money• Must measure the Cost vs Return• WHEN should start outsourcing?


Outsourcing

Tasks for outsourcing• Get List (Command Center)• Filter List land vs structure–Support Ticket or you hire own

• Hand you list ready to evaluate– Must Evaluate and Monetize!


Outsourcing

Who to hire?– Someone local – 123Employee.com – Easy Payment

• Reliable and Consistent• Some Tech Skills, English• Use Fortris video to train them



Fortris Rehab Network

Nationwide Vendor Network• Taking Advantage of Volume• You’re in by coming to event• Order through Fortris and get

20% off most material


Fortris Rehab Network

Details will come –Site to choose products–Instructions on how to purchase–Policies..etc.. Look for emails


Cashing in on Overages

• Property Owner is owed difference from Foreclosed bid and tax amount owed• County doesn’t do a good job of

contacting them



• Get List of Foreclosed Property• Look at case # to see how many were

involved, have to find ALL• Find people on list– Friends– Family– Last known addresses



• Mail them & call them• Get them to believe you

“Hi I have money for you, I promise I’m not a Nigerian Scam”



• They sign paperwork • Submit to county clerk• Wait for county clerk• Submit to county clerk• Court says Yes



• Submit to county treasurer• Wait for county treasurer • Submit to county treasurer• Wait for county treasurer• Check shows up• Deposit check, send to client



Cons & Pros• Response rate is low• Some counties try to limit fee• Hard to find people without

expertise even on internet• Know how to work county



Cons & Pros• Selling money is a nice product• You don’t need real estate eval

experience• Will never go away



Summary• Hard, not sure we’re going to

keep doing it when other things are making more money


Markets - Where to Buy

• “Where” to look depends on what you can do (investor type)• If investor type limits you to certain

strategies, learn what states don’t facilitate that strategyFL & NC for example



• Look at tax sale calendar (cc)• Can you pursue strategies for the

upcoming auctions?• Look at markets within that state

to narrow down the counties to get lists in – Rising tides



• Jobs = Industry moved in• People coming or going?• Income level• Near bigger City?



• City-data.com• NACO.org

Make your own “WHERE” by immersing in the calendar and

seeing what strategy you can apply


Trailer Conversion

• How you can get trailers in tax sales• Convert to Financable property• All About the Foundation• Are there enough to go around?


Trailer Conversion

Contacts in Command Center–Engineering contact–HUD approved contractor–De-license the trailer–Discussion video–Call Fortris


Success Tasks

• Reviewing Lists is everything• List Management is the MONEY• Find Properties – All exits rely on this• Outsource if necessary• Must Become Routine!


Success Tasks

• Save with IRAs • Do deals with Money Partners• Save on Rehab Costs• Can turn trailer lemons into lemonade


Generational Wealth

Passive IncomeWork Once, Keep Getting Paid

Think Longer Term

The Next, Next


“ At One Point in Your Life You Either Have the Thing you Want or the Reasons Why You Don't “

- Andy Roddick

No Excuses


Documents

Special Operations Mastery Event June 16. Review Money Tasks Vs. Optimization Tasks Special Operations Mastery Event 2013