RichardRoop Notes 2009

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RichardRoop-Notes-2009Marketing Strategies* Focus on using direct mail marketing to target homeowners with more equity* Get a bigger bang for your marketing dollar by targeting the smaller"motivated lists" such divorce, probate, expired listings, landlords filingeviction, vacant properties, etc.* Target free and clear houses and 'out of the area owners' mailing every 90days* Avoid targeting homeowners with little or no equity unless you have asystematic short sale investing operation* Use systematic direct mail to follow-up on sellers we first rejected youroffer* Place more value on the leads that come from your marketing* Start getting more referrals from real estate agents and mortgage brokersBuying Strategies * Avoid over prescreening or making offers on the phone* If you would consider buying a house for what the seller owes or more, setthe appointment regardless of how motivated they appear* Do a value building presentation, spending more time to communicate why youroffer is fair and why they should act quickly* Assume declining home prices will continue and make your offers accordingly,buying better by projecting a lower resell price or value in the future* Avoid paying interest on seller carryback notes* Avoiding rehabbing "junkers" if you're relying on a retail buyer to cash youout* Flip wholesale deals but know what your wholesale buyers will pay all cash* Focus on houses where a buyer can cash out without borrowing more than theFHA lending limits for you areaFunding Strategies * Only offer monthly payments to a seller up to the projected net income onthe house* Only buy houses "subject to" that have enough equity to support a smallprivate investor second note that can fund all the money need to buy, fix and hold* Pull out part of your profit in cash with a private investor first mortgageon a free and clear house and have the seller take back a second mortgage at 0%interest* Be aware of the new challenges with closing agents on doing simultaneousclosesSelling Strategies * Plan to get you buyers cashed mostly through FHA lending criteria* In needed, close on your contract or have your payments begin only afterfinding a buyer* Get creative on your buyer's down payment or purchase deposit by consideringtrades, sweat equity or a 'down payment assistance program' where they build up

their down monthly* Competitively sell offering a great price, attractive terms or both asneeded* "Wholetail" by listing homes on the MLS below market when needing to getcashed out------------------Start using the most up-to-date real estate strategies for:"Generating cash each month"Making all your properties cash flow, and

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"Building a tremendous amount of wealth over then next 5 yearsTopics cover during this training session:1) Why you need to further your knowledge and expand your awareness2) How to make important business and financial decisions based on reality3) Why to commit to increasing your prosperity and achievement now4) How to protect your freedom and independence5) The benefits of focusing on what's most important to you6) How to start taking the right actions to get to the right places What you'll discover

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"How to use creative real estate as your vehicle for income and wealthbuilding"How to be a successful real estate entrepreneur in any market climate"How to create a real estate cash machine"How to build a fortune while earning a living"How to commit to monthly and weekly goals that excite you"How to focus on what's important to you"How to take consistent committed action steps"How to reduce your unnecessary spending and build cash reserves"How to payoff your credit cards"How to build more equity in your propertiesThis training session will be followed bya live "What's Working Best Now"question and answer session. 1) Why you need to further your knowledge and expand your awareness

"The key to success in anything you do is tooNever stop learningoNever stop growing"Knowledge is poweroConstantly strive to increase this personal poweroUse the resources you already haveoSeek out the resources you need"Perform an occasional self-assessmentoAnother key to becoming more successfuloPerform a SWOT analysis on"Yourself"Your real estate investing business"SWOT stand for youroStrengthsoWeaknessesoOpportunitiesoThreats"Block out 30 minutesoTake an inventory of your biggest"Strengths"Weaknesses"opportunities and"threats"Focus on:oExploiting your biggest strengths and opportunitiesoImproving the areas in are weak inoTackling or avoiding your biggest threats"Your personal strengths may include:oDetermination and persistenceoSelf-sufficiencyoAbility to take responsibleoInnovation and creativityoPro-activenessoFaith and beliefoExperience and expertiseoPositive attitudeoMastermind alliancesoOutcome and goal orientationoSelf-motivationoStrong desire"Your opportunities today as a real estate entrepreneur:oSellers need help selling and you can profit by buying from themoBuyers need help buying and you can profit by selling to themoBorrowers need help borrowing and you can profit by financing themoTenants need housing and you can profit by renting to themoPrivate lenders need help investing you can profit by borrowing from them"Develop any new skills you need now for today's market climate and economy"The critical result areas for generating real estate profits include:oFinding deals with equity

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