Hey, it's Joe.
We've been going through a lot of different types of hypothetical deals to give you an
understanding of how to structure zero down deals on properties like this and how to engineer
particular offers on these properties.
Also, help you understand how you can give your sellers different options so that you
can make money a lot of different ways.
The more tools you have in your toolbox the more ways that you can make money.
If all you have is a hammer, everything looks like a nail.
You only do things one way.
When I start my mentor students, I start them with the for rent method using the lease option
deals.
And that's the one that I just have them focus on right from the beginning so you can make
offers almost immediately.
You don't have to know all these things in order to make offers on properties.
So, you don't have to know everything that I'm teaching you here to be able to go out
and do this.
You can just learn the for rent method, learn one of these structures and start making offers
that way.
Because it's easy to find those types of deals.
You just have to learn how to get good at it.
And as you get better at it, just start thinking about these other structures as well.
You know, the subject to, the multi-mortgage, the land contract, the lease option and the
assignable cash deals.
When you understand those five different structures, you can make an offer on any property out
there, whether it's residential property, whether it's commercial property, whether
it's here in the United States or whether it's outside the United States.
As long as it's in the free world, you can make offers on properties as long as it uses
the deed system that's similar to what was originally created in 14th Century England,
you know, which most of the free world uses still.
Then you'll be able to do deals like this wherever you go.
If you're in places where they don't do lease options or they don't do these things with
the same name, all you have to do is talk to a real estate attorney or solicitor and
find out, you know, how you would do it there.
And it's not that much difficult to do it.
They won't always understand it, so you want to find somebody who understands investment
properties or at least get a good real estate attorney and they can help walk you through
some of those things if you want to do it in a foreign land -- foreign to us, anyway.
So there's a lot of opportunities.
I've got people that've done this in the UK, all over mainland Europe.
I've had people in Australia do this, and of course Canada like crazy.
I've never had anybody do it down in Mexico, although I know it's doable.
I have had people in South America and Central America do it.
Hopefully, one of these days, I want to get somebody from Mexico.
I've had people in Dubai, I've had people in the other Emirates do this as well.
So, it's transferrable wherever you go.
And if you just learn the knowledge you need to do it, you don't have to have cash to do
it.
You could also do it from the United States anywhere else you go.
For example, if I want to go travel in the South of France for a while.
I just wanted to go live in a house out there and hang out and you know, drink some wine
and eat some good food, and then stay there for six months or a year or whatever.
I could go do that, and I could still do deals in the United States just by getting on the
phone.
And we've set up the Automarketer so that it's got a phone system in it so that I could
set up a phone number in let's say Indiana, I want to work in Indiana.
So I set up a phone number with that 317 Area Code that I could get online in, you know,
Provence in France and I could talk through my computer online and I could call a local
Indiana person from a 317 Area Code.
Even though I'm in France it looks, on the Caller ID, that I'm calling from a 317 Area
Code.
So I can be anywhere.
I could be on the moon if I had internet access and be able to use this system.
So it's really amazing what could, what you can do with this, the kind of lifestyle that
you can have with it.
I've got students that do a lot of traveling and are all over the world.
And they just go into the internet cafes and they, you know, do their work for the day
and then they head out.
And they're putting in an hour a day or 15 minutes a day or three hours a day -- doesn't
matter.
And they do some work, and then they go off and they travel and they see the world.
You know, for me, I know that a lot of people are just looking for ways to make a lot of
money, but for me money is less important than my life and then my experiences.
I'd much rather buy experiences than I would buy things.
You know, I've got too much stuff already, you know, so, I don't need more stuff.
I want more experience.
I want to try new things.
I want to live my life.
I want to have the fullest life I can possibly have.
You know, when my kids were growing up, I wanted to be around when they were here, so
I set up my business so that I could be home when they came home.
I could watch them grow up.
I could be at their soccer games, I could be at their dance recitals.
I could be at their music recitals.
I could spend time with them and we could go out and we could have fun and we'd have
time for vacations and I could take it when their schedule permitted -- not when I had
to ask my boss for it -- because I didn't have a boss.
I am unemployable.
There's never a need for me to ever go work for anyone because in a very short period
of time if I lost everything today, I could go out there and use these techniques and
make, you know, five grand, ten grand, pretty quickly.
Just by going out there and doing it and you know, bringing in a couple of, two, three,
four weeks I'd have money in my pocket.
Maybe within hours, using some of these techniques because I've got skill.
If you learn these skills, to be able to get on the phone and put a deal together, you
could probably make that happen very quickly.
And the fact that I've got lists of buyers, I've got lists of sellers, I've got lists
of investors.
I know how to access all these people.
I know how to access them using the Automarketer that I designed to do all this stuff.
I could get on the line and start making money immediately if I ever found myself in a position
of losing everything, God forbid that that happens.
That happened to me once, it wasn't a pleasant experience.
And I think I've protected myself in a way that that won't happen again.
But you never know.
Life takes its turns and you never know what could happen.
So, having that confidence to be able to know that I can go out anytime I want and I could
make a few thousand bucks here or there, doing this, doing that.
Just getting on the phone, and not even having to leave my house.
Just knowing I could do that gives me a wonderful feeling of freedom and lack of anxiety that
makes your life really good.
So, let's go into the next particular deal.
This one is a more expensive property.
This is $1.2 million.
That's what they're asking for it, that's what it's value is.
They say the bought it four years ago for $700K. They fixed it up with $50K plus the
market has gone crazy since then and it's gone up and now they've got this big chunk
of equity in this property.
They've got about $500K in their eyes, the value of the property.
They don't have a mortgage on it.
They paid in cash for it.
So they don't have any principle and interest payment, but they do have taxes that they
have to pay which cost about $2,000 a month for taxes and insurance.
It rents for $5,500 a month.
It's a good rental rate, which, by the way, would be on their cash investment of $750K,
that would be about a 5.6% return on their investment, on their cash on cash investment
which is not a bad investment in today's market and a very safe place.
Plus, you know, their return on investment is actually much higher than that because
they built $500K worth of equity in it, so they already built almost 100% return on their
money already, plus they get another 5% annual return on that money if they want to just
leave it in there.
And, their problem they might have if they sold it right now, they'd have this big capital
gains tax on it because they'd make a big profit on it.
So, what they could do is, they could pull that money out, they could sell it for cash,
let's say the get a realtor, the sell it for cash for $1.2 million.
They could pull all that money out and then they could go buy another property of equal
or greater value using a 1031 Exchange.
Then they would defer those taxes until later.
So they wouldn't have to pay taxes on that.
Or, they could refinance the property and pull the cash out and they could take their
equity out that way.
They could pull out, you know, 80% of their property, get $1 million out.
Now they've turned their [$750K to $1 million] plus they still have $200K worth of equity
on this property that they can rent and have enough income to pay that mortgage, that $1
million mortgage because their payment on that would be closer to $4,500.
So they could do that as well, there's another option for them.
You could then put a lease option tenant in there at $5,500 a month, put $20K, $30K, $50K,
I've seen people get $60K, $70K on properties that are in this price range as lease option
fees.
Or, do it as a land contract you know, as a down payment on a land contract.
So either a lease option or a land contract on a deal like this.
You're not going to sell it for much under market value because they want their full
value for the property, but you could sell it on terms and they'd end up making more
money because of it and they wouldn't have to pay the taxes.
Now, let me, I've just got a few notes that I made on this.
If they refinance for $900K, pulled out cash, the could pull out the cash then have capital
gains -- I already said that.
If you took this money out of this property and they paid off their money and they put
their profit into stocks, or they put their money into stocks, would you be able to make
enough to do that?
Yes, there are some people that are making more than 5% or 6% on stocks, but the higher
the risk, maybe the more you make -- if you know what you're doing.
But this is a stable simple investment.
They could leave their money it, or they could pull cash out by refinancing, sell it on a
lease option, keep their equity, not have to pay capital gains on it because you could
refinance it, pull cash out and not pay any tax on it and you wouldn't even need to do
a 1031 because you're not making a profit yet.
You know, even though you've got cash in your pocket, you're pulling it out as equity.
And then you could take that money and go out and buy another $700K property, do the
same thing again, and do it over and over and over again.
So as the seller situation goes, it could be a wonderful investment for them and you
could turn around and sell it for them, make fifty grand off every one they do.
It would be a wonderful thing for you as well.
You know, the difficulty about working with high end properties is not the way they're
structured or the fact that it's hard to find a buyer.
That's not the problem.
Finding somebody with $50K that can move into this property and pay a high monthly rent
like this, that's not as big a problem.
Yes, there are fewer people that could do it, but they're still out there and there's
plenty of people that have high incomes that don't have good enough credit where they can
actually go out and buy a property like this and so if you can sell it to them on a lease
option, those people are not difficult to find.
The most difficult part of working with high end properties is the sophistication level
of the seller.
So you have to be sophisticated.
You have to have enough credibility, you have to have confidence, you have to know what
you're doing, for them to trust you.
If all you've done is $50K properties, you might feel more intimidated talking to people
that are talking about $1.2 million properties.
On the other hand, I've had people that have done $50K properties and they are so good
at that, by switching over to the $1.2 million was no big deal.
It's the new people that are talking to the $1.2 million people.
That's the one where they start having challenges.
So if you're working in a high end market like this and you're dealing with these kinds
of properties, the potential for profit is enormous.
But, you have to have skill.
So, you know, does it make sense to start with these?
Yeah - why not?
You know, if they're in your backyard, start with them.
But I'd also, if you're doing high end properties, I'd also work in a low end area, too, and
do it remotely.
You know, say you're working in Los Angeles and you see, find these properties all over
the place that are million dollar price ranges.
But you also maybe, like, go to Bakersfield, or go to Lancaster, or go out of the state
altogether and go to Texas or go to Wyoming and work at properties that are less expensive,
work in the $100K range as well.
Because those sellers might be a little bit easier for you to talk to and a little less
intimidating than somebody who has a little higher sophistication in the financial market.
All right.
Hope that helps.
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