October 6, 2020 in Real Estate Investing Tips
Coronavirus made a huge impact on the global economy. Several real estate businesses are struggling because of the comprehensive implementation of social distancing and quarantine in the United States. In result, finding deals in the market can be a lot difficult because most people are just shifting to work-from-home set up.
In relation to this, let’s now talk about the different ways that you can do to find the best deals in the market. Real Estate IQ made a huge step to continuously provide every investor an opportunity to learn even if they are at home. One of many things that you can learn from REIQ’s online classes is improving your skills when it comes to off market deal finding. Let’s discover how you can still make profits while at home.
Off Market Deal
For starters, off market deals are leads that are not listed on the MLS (Multiple Listing Service), where the real estate agents usually get a list of properties that are for sale. So if you do not see the property that you are targeting on the MLS, then it is an off market deal.
Why do you have to look for off market deals?
Basically, since it is not listed on the MLS, you have a higher chance of closing the deal because you have less competition. Another reason is, you can get bigger discounts. You can ask up to 30- 40% off. Because lastly, you can have a direct negotiation with the seller himself. Thus, you need to have comprehensive skills and be diligent in finding these kinds of deals, because you might encounter some instances that the clients may not yet be ready to sell the house.
Finding Off Market Deals
Since you can not find off market deals easily, here are three (3) ways that you can do:
- Market for the sellers to contact you
Place ads, banners, and post on different platforms that you are looking for off market deals.
- Find the potential motivated sellers
For example, a pre-foreclosure list, properties with liens, homeowners in probate, etc.
- Buy from a Wholesaler
Let someone else do the groundwork. On the other hand, you will be paying their wholesale fee on top of the possible income you could get from the house. If it’s a good deal, then why not?
Strategies for finding off market deals
- Bandit signs
You may see it a lot of times, handwritten or printed. But usually, the handwritten ones tend to get a higher response than the commercial looking ones.
- Direct Mail
So from the list of potential motivated sellers, you can send them flyers, postcards, banners, or whatsoever. But you have to be diligent in sending messages and update them consistently.
- For Sale By Owner (FSBO)
Now for this one, some owners don’t want to put their property on MLS probably because there are some repairs that need to be done or they don’t want to give a commission to realtors. So what you can possibly do is to go to certains websites for this one like Zillow Craigslist or FSBO.com.
Closing Off Market Deals
Finding off market deals are hard to find, but closing a deal is a much more difficult task. Just imagine yourself as a seller. You have to prove to your customer that you and your product are effective and trustworthy. So how will you get the trust of the customer? That is when building a relationship with your prospective seller comes in. It takes a lot of effort to build a deeper connection with them. But once you earn their trust, that’s when everything becomes so much easier.
Disclaimer: The blog articles are intended for educational and informational purposes only. Nothing in the content is intended as legal or financial advice.
July 14, 2020 in Webinar Replays
Has done fix and flip for hundreds of houses and done thousands of wholesale deals
Worked with some of the biggest residential flipping companies in the country that averaged 20-30 deals a month
He has a background in construction and property management
Invested in Salt Lake City, Utah, Indianapolis, Indiana, Albuquerque, New Mexico, and now Dallas, Texas
Investing is a very lucrative business. The fact that you’re the boss of your own life and the master of your own time, makes investing attractive. Rich people become richer not by working for their employer, but by working for their own business. Fortunately, real estate investing is one of the most stable and profitable investments. But the biggest question for interested investors is HOW TO GET STARTED?
In this most raved about online class by Luke Watkins, REAL ESTATE INVESTING FOR BEGINNERS – 10 STEPS TO GET STARTED SERIES, Luke will teach you everything that you need to know about real estate investing. From the perspectives, strategies, techniques, tools, and much more! You will, without a doubt, learn everything you need to set sail towards successful investing. Join us every Monday at 6:00 PM Central Time! See you!
REAL ESTATE INVESTING FOR BEGINNERS – 10 STEPS TO GET STARTED SERIES
WEEK 1: Identify your financial stage & Choose your investing strategy
WEEK 2: Choose your market and Investment property criteria
WEEK 3: Team building and getting financing
WEEK 4: How to get money & create your plan
WEEK 5: How to leverage the success of others
WEEK 6: Tools and systems for success
WEEK 5: How to leverage the success of others
WEEK 6: Tools and systems for success
June 24, 2020 in Webinar Replays
The most common way to find good investment deals is through MLS or Multiple Listing Service. Most investors (if not all!) use this as a platform for their real estate business because it has thousands of listings that are being updated every month. It’s one great technology, isn’t it? I bet many people know how to use it, but do they actually know how they can maximize MLS into its full functionality?
In this online class , you will learn how to effectively use MLS and how you can take full advantage of this platform with the help of Azrow Moore, the Co-Owner and Co-Founder of Orange Doozer, LLC, and Jessica Moore, the Owner/Principal Designer of J. Marie Interiors that helps the real estate industry about property designs and also the Co-Owner and Co-Founder of Orange Doozer, LLC, you will surely get the tips and tricks on how to win great deals using MLS! So register today and join us on June 16, 2020 at 6:00 PM Central Time!
Here’s a sneak peek on what you’ll learn in this class!
- How to look at a deal on the MLS as an opportunity to negotiate
- How to make a strong offer, with numbers that work for you
- How to dissect a listing to determine how you will structure your offer
- How to communicate with your Realtor about your criteria and business model so that you can come up with a system for finding the right deals for you.
June 22, 2020 in Real Estate Investing Tips
In a card game, the dealer gets to shuffle and deal the cards to each of the players. Once all the players have enough cards, that’s when they start to play a game of chance. Just when you thought knowing the rules of the game is enough, you’ll be surprised that it actually takes more than that. Just like in real estate investing, being a newbie with baby steps is just the initial stage. But what really happens when you get there and start?
Real Estate IQ, a marketing intelligence company poised to be the No. 1 in Deal Finding has paved its way to make your real estate investing experience much more efficient and effective.
We have collated for you, the best pieces of advice plus best practices that will be very essential keys to possess to ace the early stages of real estate investing business. Also, we incorporated some useful tricks that can boost your strategy and bring out your A-game.
Topping our list is “The Secret”. Shockingly, there are no secrets. Real estate fortunes are built on a foundation of “existing art”, a set of standard practices that have proven valuable to real estate investors and entrepreneurs since time immemorial. Techniques such as ‘flipping,’ the lease-option, or dealing in foreclosures, touted as new or unique or even ‘trade secrets,’ are simply well-established approaches to the business that underwent the process of rebranding to hype books or seminar sales.
TRICK: FIX AND FLIP
Truly a box office in our strategy list, flipping a house means you purchase it, make updates and improvements, and then sell it—all within a fairly quick amount of time. House flipping is appealing because it’s a quicker process than renting out a property for years. In a matter of months, you could get the house back on the market and hopefully turn a nice profit. But just like other investments, there’s a risk you won’t make money on it—matter-of-factly, you could even lose money. When flipping a house, remember that the key is to buy low. In most cases, you can’t expect to make a decent profit unless you’re really getting a great deal on the front end.
Want a hassle-free fix and flip? Check out our REIQ Vendors to help you select the best partners. You may find the perfect Contractor and Supply Company just for you!
Trade Secret: Self-Evaluation.
This is a tough one because you have to be willing to take an honest look at yourself. Where are your strengths and weaknesses? Once you know where you’re weak, hire out for those areas. Delegating responsibly is key to growing a business with a good foundation. Know why you’re in or going into the real estate investing business. To be successful, your business life should be only one dimension of your personal life, an extension of your personal values.
Define your goals. More often than not, we all get into real estate investing at least in part for the freedom it can provide. But what does that look like for you? How large or small of an organization do you want to build? What is the end goal you are hoping to achieve? Real estate is often just the vehicle to get us to a bigger life goal, so make sure you are casting a vision for your company or yourself that aligns with your goals.
You will need a clear understanding of what benefits you will be offering to the table or bringing to others in the marketplace. Finally, it is important that you truly enjoy the tangible and intangible aspects of the product real property and the milieu or the social environment – the people with whom you will be dealing with. Every business, every industry, has its unique culture. It will be important to your success that you relate to that culture and identify with it in corroborative ways.
TRICK: HOME OWNERSHIP
Home ownership is the first step in real estate investing, and it’s a huge part of achieving financial peace. As long as you keep paying taxes and insurance on your property, you don’t have to worry about ever losing your house. You can stay calm regardless of the ups and downs of the real estate market, and it also frees up your budget to start saving for other types of investments.
TRADE SECRET: EDUCATION.
As you become a successful investor, you must learn to evaluate risk and reward. Take advantage of real estate classes online and leverage on free online real estate courses. Watch real estate webinars and meet real estate trainers. Many people sit on the sidelines spending way too much time educating themselves to the point where they are overloaded with information and become too afraid to take action for fear of making a mistake. While it’s always important to evaluate risk, it’s also important to take action on what you’ve learned from your mistakes. It’s also worth mentioning that taking action on too many things can be detrimental, because you may end up chasing shiny objects and never accomplishing anything of real value.
If you are interested to get help to move forward with your business goals. Check out these institutions that are motivated to help you here in our REIQ Education.
BEST PRACTICE: MENTORSHIP.
It’s a no brainer. Having a mentor whenever you venture into any undertaking is tantamount to having a good education. Utilizing the benefit of someone else’s experience greatly reduces your learning curve. Build a network and attend real estate events. This is how you will recruit your team of the best and brightest. Cast a wider net to the sea. You will need professionals related to the business: lawyers, brokers, contractors, and tradesmen, and, importantly, other investors who share your interest in real estate. You should seek out a mentor, someone who combines experience with a genuine interest in you as a person.
Visit our Community and get the opportunity to network with other real estate professionals. Click HERE to join for FREE!”
BEST PRACTICE: MARKETING.
Effective Marketing is the No. 1 expense when getting started in real estate investing. By tracking your marketing expenditures and return on investment (ROI), you can see how effective your marketing is. This also allows you to make informed decisions about where and how to spend your marketing dollars, and understand how well your message is being received. You need to secure a foolproof marketing plan. Generally a part of your business plan, a written marketing plan will spell out a coordinated ongoing and sustainable program of advertising and public relations designed to keep your message and your brand before the public eye. It is important that marketing is understood as an investment, not pursued randomly or on a case-to-case basis. Keep in mind: You haven’t made any money until you’ve sold something.
TRICK: RENTAL PROPERTIES
Owning rental properties is a great way to create additional revenue—it could easily add thousands of dollars to your yearly income. Then, if you decide to sell, you could earn a nice profit. It all depends on what type of property you buy and how you manage it. The key is to always buy in a good location that has potential for growth. While rental properties are a great investment option, being a landlord has its challenges. You’ll face seasons when someone doesn’t pay rent or you’re in between renters. You also have to consider the additional expenses of maintenance, repairs, and insurance.
BEST PRACTICE: START SMALL, and BUILD A STRONG FOUNDATION.
There are a lot of gurus out there preaching about growing and scaling a real estate investing business, but remember, bigger isn’t always better. Scaling an operation that doesn’t have the proper foundation will only lead to problems down the road. Formulating systems and processes, Getting the right people on board who are a good fit for your organization, and keeping a finger on the pulse of your business will lead to an operation that is efficient and successful. Trust in the goodwill of others. Don’t be too quick to judge. What appears to be thievery may be simple ineptitude or sometimes negligence–know the difference. Work to understand other people’s issues (whether employee or clients). By and large, we are all guided by the same aspirations and concerns.
As it may be true, most of these games are based on luck and chances, but there will definitely be advantages when you know the tricks of the trade and the best practices. Whether you’re playing board games like chess and Game of the Generals or card games like Baccarat and Poker, it all boils down to a winning strategy. In the real estate industry, a handful of trade secrets will always be a delight to possess. To enter the world of real estate investing with confidence equipped with the necessary skills, check our website Real Estate IQ.
While we may all argue if all it takes to win is luck, maybe the best any of us can do is to not quit, play the hands we have been dealt and try to win your game before anyone else calls it “checkmate”.
Real Estate IQ is Generating Client Leads Through Free Webinars and Training Like Other Leading Brands
June 8, 2020 in News
Leading brands from multiple industries have been using webinars and online training to get sales leads. Real Estate IQ, a leading software company in the real estate industry that helps in providing seller leads and real estate tools.
The company made the initiative to release free webinars and training for anyone interested or part of the real estate industry. This approach served as a step towards stronger digital marketing for the company.
In 2019, 6000+ users in Texas subscribed to our services, Reached $1MM ARR in Texas, Expanded to 5 markets in FL and GA, established 10 new departments and held more than 100 Events!! That’s to cap off 2019!!
Real Estate IQ was founded by Steve Liang (CEO and co-owner) and Juan Carlos Cruz (COO and co-owner) as a software company that is dedicated to helping clients easily find motivated seller leads. From providing leads, the company expanded its services by developing software tools that are helping clients in running comps, estimating rehabilitation costs, and skip-tracing contact information. Today, the company has started to attract sales leads by hosting free webinars and online training.
Webinars are a new way to adapt from the challenges of the COVID-19 Pandemic. Now that social gatherings are no longer encouraged, there is still a need for the real estate industry to learn everything that might be useful in the business. Using some of the famous software applications like Zoom and Microsoft Teams, webinars have been made possible.
Real Estate IQ already had the initiative years ago of hosting free webinars for the real estate industry. Through their webinars, the company was able to attract sales leads to help increase their sales. The company’s free webinars also received great feedback because the questions of the timely topics and the participants’ questions are being answered online.
To date, Real Estate IQ made bigger initiatives by hosting free webinar series for everyone to choose from. The company has a webinar series dedicated to newcomers or interested investors who want to know about the guiding principles and techniques that will help them secure success. Real Estate IQ also offers in-depth discussions about the various fields of expertise like fix n flip, wholesaling, multifamily, loans, and many other topics.
Real Estate IQ wanted to reach many people through their webinar, which is why the company started a free bilingual webinar series that is dedicated to the Hispanic Community and a Book Club series for people that are interested in amazing books. With a lot of potential speakers expressing their interest to work with Real Estate IQ, the company is gearing up to add more webinars from the current 50 plus that the company is launching this month of June.
Real Estate IQ is also catering to the needs of experienced real estate professionals. The company has regular Deal Finding and Deal Analysis training hosted by Becky Kromminga, Kevin Kromminga, Rodney Rush, and Joseph Dela Cruz. Joseph Dela Cruz is also the resource speaker for Geeks and Nerds in Real Estate, a free webinar dedicated to making technological innovations in the real estate business.
The company has also seen the need to nurture the growth and development of its clients, because of this initiative the REIQ Training was born. REIQ Training is a free webinar training that is exclusive to the company’s clients. These training sessions have been very effective in attracting sales leads since most participants in this training can easily assess and compare the value of the products of Real Estate IQ. The Real Estate IQ Training, on the other hand, has received great feedback from customers as it made them decide to extend and upgrade their subscriptions.
The company has been successful in generating unique sales leads from these webinars. From the month of March, the generated sales leads have increased by up to 200%, which followed the increase in sales as well. This positive outcome sparked the initiative of hosting more webinars, exploring more content, and reaching other communities. With this kind of initiative, Real Estate IQ is expecting to generate more sales and lead to gear-up for national expansion.
May 30, 2020 in Uncategorized
Fuse the Intuitive with the Rational: Mastery
Your intuition can sometimes be right or wrong. It is your inner ability to decide or act based only on your personal guts because it doesn’t require facts or deeper comprehension. On the other hand, being rational means you’re being logical. It is a mental ability to analyze situations based on the facts presented. So how can you handle these two characteristics and use them as your own strength?
We already developed your social intelligence and creative-active skills. For the last chapter, we are going to have a deeper understanding about Intuition and Rational form of thinking. Our experts will share their thoughts in attaining ultimate mastery. We will also have a recap about the lessons that we have learned from the book.
To help yourself learn more about meaningful books, be sure to be updated about the Successful Habits Book Club! Register here for more content and information.