Lesson 10 – The Business Plan
The Business Plan – How to create a business plan Now you have the data, but you need to organize it. The property plan will give you your net operating income. From there, go over what you can do to increase revenue and cut expenses. This is a time to be creative. Ask the “what if” […]
Lesson 9 – The Truth
The Truth – How to find things in due diligence Due Diligence is extremely important. Plan to walk through every unit in the property and go through everything with a fine-toothed comb. Keep good records and know that whatever you find you can use later when you negotiate.
Lesson 8 – The Close
The Close – How to write an offer and get a deal under contract After you’ve crunched the numbers and find a deal that works, the next step is putting together a Letter of Intent and Purchase & Sale Agreement. This is where your attorney will come into play. Letter of Intent and The Purchase […]
Lesson 7 – The Math, Pt. 2
The Math, Pt. 2 – How to calculate the numbers Now it’s time to assess the expenses and get as close as you can to the actual numbers. Putting rough numbers on paper helps you come up with a clearer picture of what your offer should look like. I’ll walk you through calculating the expenses, NOI, […]
Lesson 6 – The Math, Pt. 1
The Math, Part 1 – How to calculate the numbers In a good Deal, the numbers work. Most new investors decide if a property is a good deal based solely on the pro forma. While the pro forma is a good starting guide, you should always trust, but verify. This is one of the most important […]
Lesson 5 – The Demographic
The Demographic – How to find and attract good deals Focusing where you want to invest is key before you start actively looking for property. I hear questions like, “Ken, what do you think about the Florida Market?” That is a ridiculously broad question; some parts of the Florida market are great and some are […]
Lesson 3 – The Team
The Team – How to find the right team When new investors get started, they want to do everything themselves. They are either concerned about the cost or they feel they are not at the point where they need a team. Let me tell you… you need a team and you need a team from the […]
Lesson 1 – Getting Started
Getting Started – What it takes to start investing To be successful in real estate or in life, you must overcome any obstacles that might be holding you back. We create all sorts of scenarios in our head that discourage us or even prevent us from moving forward. In this lesson, we discuss the “myths” that […]
Introduction
Welcome to my Master Course! Real estate investors are just normal people; they aren’t anybody special. They have just mastered a fairly passive way to invest. People think everything revolves around money, but it really revolves around education. Why is it that some people have money and others do not? Why, in our culture, are […]
Lesson 2 – Setting Goals
Goal Setting – You have to have a goal Goal Setting is a part of the process many people want to blow by. They want to jump into real estate and don’t take into account personal development, which is, in my opinion, the basis of success. A lot of people want to be successful in real […]