Weekly Thought Starter #40: Real Estate Action Weekend Preview
October 3, 2016 – No. 40
Weekly Thought Starter 40: Real Estate Action Weekend Preview
“Wisdom is knowing what to do next; virtue is doing it.” – David Starr Jordan
AGENDA OF TODAY’S ‘THOUGHTS OF THE WEEK’
a) Why A Refresher?
b) Attend Free – bring
c) REAW Outline
d) Idea of The Week to Implement
e) ANNOUNCEMENTS / HOUSEKEEPING
Real Estate Action Weekend REFRESHER
One of the benefits we offer all members is the opportunity to come out to the Real Estate Action Weekend for a “Refresher” course. The reason being that there is always a new idea or insight to be gleaned from the mountain of information provided in the 13 or so hours of instruction. It’s also a great opportunity to meet new investors! (a suggestion for Realtors and Mortgage Brokers!) Admission is free with your membership but you must register!
Here’s a brief outline of what we cover in the REAW to “refresh” your memory:
Real Estate Action Weekend Course Outline
How to be a professional Flipper
Quick-Flips: How to identify value. How to ‘know’ when you are buying below market. What is a good deal? Buying with an open contract. Buying as ‘nominee’. How to ‘control the contract’, how to get Advantageous terms
How to become a Shark
Where to find foreclosures, where to find local CMHC contacts, where to find designated realtors. How to approach banks, Credit Unions and mortgage brokers. What to do to get your offer into court, procedures. Attendance in court – who? What lawyer and Realtor to pick and how?
How to be a good Investor – For life
Create unearned income for life. Become independent of your job. Create your own job security. How to keep what you have. Differences between buying many suites all over the place and an apartment block.
How to select appraisers / Home inspectors
Where to find, when to use. How to use Assessment Authority data. Market evaluations versus appraisals.
How to select builders, developers and contractors
Architects Commercial Renovation Residential, how to select a builder, a contractor, what to look for, what contract to write – terms you MUST include.
Totally concerned with financing sources, tricks and tips, Financial Institutions, Foreclosures, Mortgage Brokers. How to get up to 107% financing on some deals.
Dealing with bankers, lenders and accountants.
We will also touch on:
- Record Keeping
- No Money down mortgage
- Option to buy
- Proper forms
- How to buy Apartment Buildings without a down payment
- How to find government owned property – Canadian and British Columbia Land sales, where to find them, how to buy crown land, how to buy surplus land, how to trade with the government. Contacts and sources
- How to hire real estate professionals
- Proper property management
- Differences between Commercial and Residential property management. Multi-unit, single unit. Rental pools, how to hire, what contract, how to get a credit report, proper forms. Tenants will pay off YOUR mortgage.
- How to keep and find good tenants
- Tips to increase income
- Tips for the do-it-yourself Landlord
- What to expect from your tenant?
- Illegal suites
- Basement suite investment. Municipal and neighbourhood worries.
- Buying real estate
- Make the most money on the day you buy
- Selling real estate
- Getting all the exposure FREE.
- Selling ‘by owner’ pitfalls and possibilities.
- Tips for maximizing value
- Selecting the ‘selling’ Realtor
- Price your home right
- Benefit and Feature Sheet
- Get the property on the net
- First Impressions
- Get rid of the junk
- Sell the sizzle
- Understanding and using real estate sales documents and checklists
- The agreement for sale, Addendum to agreements, listing contracts – pitfalls. The personal inspection, the ICI list, the condo list.
- Do’s and don’ts of buying
- In’s and Outs of buying
- How to work for Sale by Owners
- Handling objections – what to say on the phone
- Actual success stories – the only thing that matters – ACTION!
- In’s and Outs of buying
- Joint Ventures, Syndicates, Limited Partnerships, private investor groups. Don’t just be an investor, be an owner of a business.
- What’s a cap rate? Net operating income? Net income multiplier?
- Creating a specific Action Plan to achieve your goals
- Economic outlook
- What’s in store for 2017 and beyond
Wow! That’s a lot of good information!! If you can’t make it out for the refresher at least take some time to review and remember that we are always available to answer your questions
All members that joined through the Springboard in the last year…THIS IS PART OF YOUR FIRST YEAR COURSES. You also have a certificate to bring a friend FREE, but must book by this Friday. E-mail Max (firstname.lastname@example.org) to join!
Have a Great Week!!
Ozzie and Ralph
‘If you could kick the person in the pants responsible for most of your trouble, you wouldn’t sit for a month.’ — Theodore Roosevelt
Idea of The Week to Implement:
I will take the refresher!
1) PLEASE NOTE: Your next exciting meeting is today! Monday, October 17, 2016 at 6:30 PM (sharp!). The meeting will be at: The Vancouver Alpen Club, 4875 Victoria Drive, Vancouver. If you are bringing a guest, please e-mail email@example.com.
2) NEXT ACTION PLAN/GOAL SETTING MEETINGS:
Next Action Plan Meeting is October 17, 2016 at 5:30 (Alpen House before the monthly meeting).
Action plan meetings are the foundation of your REAG membership. At these informal meetings there are no wrong answers. Groups of approximately 10 members share their goals and develop specific 3- day “action plans” to bring them to reality. Earl Nightingale said, “Success is the progressive realization of a worthwhile goal”. At the action plan meetings, we celebrate small successes and acknowledge everyone’s progress. The idea is to keep focused on a monthly basis and get into action. It’s all part of the process of “growing into your future best”. Sign up today!
For Action Plan meetings registration go to: https://www.reag.ca/events/categories/action-plan-meeting/
Action Plan meeting participants are seeing great success! Try attending the next one!
3) Make sure to explore all the new and exciting features at www.reag.ca
Take a look at your own private member section. Create your own team, post your deals with photos, and respond to other deals directly with the posting member. Use it! We developed it with YOU in mind. Feedback is welcome and appreciated.
4) Don’t forget to use the DEALS section
You will find it on our website at https://www.reag.ca/forum/hot-deals/ as a place to post for your deals. If you haven’t used it, TRY IT! It is so simple to submit. You are able to include photos of the property as well as all the details directly to other REAG members.
5) SUBMIT YOUR GOOD DEALS TO OZZIE
He is always looking for great deals to be featured in his Hot Properties section of the Facts by E-mail, as well as potentially on Michael Campbell’s CKNW Radio Show. You get exposure to thousands of investors! Send your deals to Ozzie no later then Friday at noon for inclusion in the following week.
6) SOCIAL MEDIA
If you are on Facebook, Twitter, or LinkedIn, make sure to check out our REAG page and “like it” for updates on members, activities, and Real Estate updates!
Ozzie and Ralph are also on Facebook, Twitter, LinkedIn and Instagram! Make sure you send them a friend request!
7) Get your REAG membership FREE
Remember that you get 2 free months for every friend you introduce who signs up for REAG! So if you introduce 6 friends…your year is free! Your guests can attend a monthly meeting preview ONCE ONLY and you must register their name, e-mail and phone number with Max (firstname.lastname@example.org) before the meeting.
8) Elevator speeches
If you have an accompanying PowerPoint presentation, you must send it to us at least 24 hours before the monthly meetings! Try cutting down to 3 slides! We cannot guarantee PowerPoint presentations will be available if they are sent to us less then 24 hours in advance.
9) Submit your offers!
Don’t forget to submit your offers at each meeting to be entered into our Wine Bottle Draw!
They must be real offers, not chicken scratches on a piece of paper. They do not have to have been accepted offers, the idea is to MAKE OFFERS. Show and tell and win!