Evaluating Discount Property At the end of this session, you will be able to: Summarize key focal...

Evaluating Discount Property

At the end of this session, you will be able to:

• Summarize key focal points of valuing and analyzing discount property

• Explain how to use a CMA

• Perform a discount analysis

7 Steps of Evaluation

1. Find the Property2. Find the comps3. Estimate Repairs4. Estimate Costs5. Evaluate Exit Strategies6. Estimate Profit Potential7. Complete Acquisition Sheet



Focal Points

• Location• Property Condition• Price• Financing• Seller’s Motivation/Flexibility


Comparables (Comps)

• Address• Sq footage• Age• Bedrooms• Baths• Gar/Carport• Lot Size

• Construction• Price• Days on Mkt• Extras• Distance• Subdivision• Appraisals


Finding Comps

• Tax Rolls

• Web Sites

• MLS/Realtors

• Driving for Dollars

• Listing Services


Estimating Repairs

• Initial Self Inspection Measuring Tape Ground Tester Marble Screw Driver Software Licensed Inspector


Estimating Costs

• Buying Costs

• Holding Costs

• Closing Costs


What We Covered This Session:

– How to recognize a motivated seller– Summarize WHY sellers become motivated– Three specific tactics for motivated seller

marketing– Explain how to target market to motivated

sellers

Driving for Dollars

• Types of sellers

• Pros

• Cons

• Tips & Considerations


Foreclosures


• Pros

• Cons



Bird Dogs


• Pros

• Cons



Courts


• Pros

• Cons



Advertising


• Pros

• Cons



Advertising

• Flyers• Business Cards• Newspaper Ads• Car Signs• Bandit Signs• Trade shows

• Radio & TV• Website• REIA Groups• Expired MLS• Yard Signs• Direct Mail


Contacting Motivated Sellers

1. Advertising

2. Direct Mail

3. Telemarketing

4. Drive By/Door Knocking


What We Covered This Session: 1. Recognize a motivated seller

2. Summarize WHY sellers become motivated

3. Three specific tactics for motivated seller marketing

4. Explain how to target market to motivated sellers


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Evaluating Discount Property At the end of this session, you will be able to: Summarize key focal...

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