King me

King me   The other day, I was having some alone time with my 8-year-old, and he wanted to play a game of checkers. As we got the game out, which was one of those nice wooden ones, I noticed that we didn’t have all of the wood playing pieces.   My son looked at me sheepishly and confessed that he had lost some of them. But he told me…

How can we structure this deal?

How can we structure this deal?   In the summer of 2010, I was blessed to have a sure-enough successful husband-and-wife real estate investor team take Ashley and me under their wings. They have a passion for giving and enjoyed teaching aspiring and established investors alike on how to creatively structure deals. Without them, Ashley and I wouldn’t be where we are. That passion lives on today as they travel…

Empathy versus sympathy

Empathy versus sympathy   Empathy and sympathy are two very similar words that have related meanings. They both have to do with understanding someone else’s feelings. That being said, you have to focus on one versus the other when it comes to making offers.   The late, great, Zig Ziglar has a story he uses to illustrate the difference between the two concepts. He talks about when he sold Saladmaster…

Not all offers are created equal

    So you just completed the rehab on a flip. Before you put it on market to sale, you and your realtor check the numbers one more time to make sure you get the most out of the house. Your agent reveals there have been some better comparable sales since you started the project and suggests a higher list price than you had anticipated.   Excited, you put the…

Making an offer

Making an offer is sometimes intimidating for a beginner – mainly because you’re scared the seller will accept, and you have no idea what to do next. Or you’re scared you’ll mess something up.   Either way, I totally understand.   But something that gave Ashley and I confidence was to realize that you aren’t contractually bound by anything just because you made an offer.   An offer, is just…

Your contracts should evolve

  The phrase, “One size fits all,” is something that should never be applied to your contracts. It’s very important that your documents fit the individual deal you’re working on. If you get on the internet and get a generic contract, it may have verbiage in it that’s not compatible with the laws in your state. You don’t want that.     Each time you write a contract, the situation…

The benefit list

  It’s as simple as it sounds: a benefit list lists all the benefits associated with a deal or offer you’re making. This is a great tool I garnered from two of my greatest teachers: Peter Fortunato and Bill Cook.     Pete always talks about deals in terms of benefits, not money. There are lots of benefits associated with each deal that you can’t put a dollar amount on….

A real-life offer

The purpose in making an offer isn’t to have some fancy paperwork that neither the seller nor the buyer understands. An offer is meant to start the process of a meeting of the minds. Once you have a meeting of the minds for both buyer and seller, you can make a deal.   I’m often asked how I figure out what to put in my offers. I’d like to walk…

A million dollar offer

  I had a new investor named Sean ask me about my door knocking technique. Instead of trying to tell him, I invited him to come out with me one day. While we were out, we came across a vacant house to investigate.   In situations like these, our first course of action is to talk to the neighbors. One neighbor said they had a hard time getting in touch…

How to make your top offer

How to make your top offer:   When you’re looking to buy an investment property, it’s important not to get emotional while evaluating the deal. Let me warn you, failure to keep your emotions in check will cost you big time. Ask me how I know.   One of the worst deals Ashley and I ever did was a result of us leaving our excitement unchecked. When we were new…