How to Do Everything Wrong In Real Estate and Still Be Successful

Franklin Cruz

Description

With Real Estate Investing at it's ALL TIME PEAK NOW is the time to make a Financial IMPACT for yourself.

FAST, Simple and NO BS.. That is what this book is about.

This is a STEP by STEP guide on Real Estate Investing NOW.

How to find your FIRST DEAL ?

How to develop a POWER TEAM ?

Are you interested in knowing the TRUTH about Real Estate Investing?

Do you want to know the inner secrets the "EW"-GURU's will not tell you?

This book is written by an experienced Military Veteran turned "REAL" real estate Investor.

Sujets

• Selling Homes
• Buying Homes
• Real Estate
• Employabilité, métiers et formations
• Economics
• Business

Informations

• Publié par: eBookIt.com
• Date de parution: 16 mars 2013
• Nombre de lectures: 0
• EAN13: 9781456614249
• Langue: English

Extrait

HOW TO DO EVERYTHING WRONG IN REAL ESTATE
 
And Still Be Successful… ~ 1 ~
 
 
by Franklin Cruz

Copyright 2013 Franklin Cruz,
All rights reserved.
 
 
Published in eBook format by eBookIt.com
http://www.eBookIt.com
 
 
ISBN-13: 978-1-4566-1424-9
 
 
All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means electronic, mechanical, photocopying, recording, or otherwise except the use of brief quotations in reviews without obtaining prior permission in writing from the Publisher.
 
S&B Publishing
550 N. Reo Street
Suite 300
Tampa, Fl 33609
 
www.franklincruz.com
 
Mom, I pray every day that I had one last minute to spend with you, or that I could see your face just one last time. You are the inspiration for everything I do. May God allow you to read this book in Heaven. I love you.
Acknowledgments
I would not be in a position to write this book, or run a successful business, if it were not for the influence of some very special people.
First of all I’d like to thank my father, Eli Cruz. You’re truly the best Father a son could ever have.
My Stepmother, Barbara Cruz, who stepped right in and became the best stepmom anyone could ever ask for.
My wife Bridgette, the best wife, woman, mother, singer and business woman I have ever met or will ever know. I love you eternally.
My little football player Alex - you’re the best son - and to my twins that are coming. May God bless you every day.
To the future young Billionaires: My brothers Jordan and Caleb, and my little sister Savannah.
Sincere thanks to my Pastors for my spiritual encouragement.
My friends and extended family, who all helped in one way or another.
Most of all, I’d like to thank those individuals who thought this book would never be written. Thank you, because you are the main reason it is finished!
FOREWORD

What is a Real Estate GURU ?
 
A Guru is the following:
Someone with a reputation as an expert leader, teacher, or practitioner in a particular field.
A revered guide, mentor, or adviser in spiritual or intellectual matters.
But what is a Real Estate Guru ? The above definition is accurate except for a couple of absent words. It is someone who is a Master of ALL in the game of Real Estate - not someone who just knows a few things. He is a true Mastermind who understands the ART of Real Estate investing.
I am not talking about making an extra $1,000 or $10,000, but how you can potentially make a $1,000,000.00 or more in one year.
Think about it. If you only know how to make money doing one thing in Real Estate, that is great - but if you master of aspects of the business, which I call the “Big Seven,” that is something else altogether.
 
The Big Seven
 
1. Legal (Probate and Estate Sales)
2. Wholesaling
3. Rehabbing
4. Flipping
5. Mentorship
6. Financing
7. Being Honest!
 
 
Once you can master all of these disciplines, you can make money seven different ways!
Of course you must realize you have to crawl before you walk, and then walk before you run. Walking in Real Estate Investing is just getting started. You need to get into the race first before you can win it.
Now that you are involved remember, every battle will cause you to suffer some wounds. I have been to war, and one thing I learned is no matter what happens it will change you and you will be scarred and wounded in one way or another. It can be emotional or physical, but you will be changed.
Real Estate Investing is a business , so remember – every day is war . It is not normal or easy for people to thrive and become wealthy. If it was normal or easy, every lazy or idiotic person would be a mutli-millionaire – and there obviously aren’t many people like that running around. Why? Because people don’t like to go to war. There are very few people in this world who actually like the Real Estate Investing business – mainly because it isn’t easy in the beginning.
Always remember your Real Estate Investment business is just that, and all businesses are the same. They are like children. Take the following comparison to heart.
When a child is born, it is the most beautiful thing in the world. You believe your child will be one day the President of the United States, or a doctor, lawyer, etc. They will be a Success! Businesses are exactly the same. When you start out you have high expectations - it will be a super success in no time!
Unfortunately, like raising kids, the beginning it is the toughest part. In the beginning kids cry, yell, don’t listen, have a mind of their own, and just act crazy sometimes. Businesses are exactly the same. In the beginning you have to spend so much time taking care of them, making sure everything is in place - but still everything goes wrong because you have no experience doing what you’re doing. It is trial and error period. You are up in the middle of the night taking care of problems, people are constantly calling, and you are still trying to grasp the whole concept of being a business owner. Do you see the resemblance between kids and business yet?
Your goal for your children is that one day they will walk and eat and wake up all by themselves. Business is the same. You pray it will become mature enough to build a reputation all by itself, and that people will be drawn to your company and want to do business with you. Your “child” will have achieved your goal. Building a good reputation because you have raised your “child” the right way is imperative. If you do it right, it will treat you right!
Chapter One
Building Your Real Estate Power Team

“The eyes are the window to the soul, so go with your gut feeling.”

Before you begin investing in properties you need to create your power team. There are a number of people who are involved in closing a real estate deal, and you need to make sure your team is a powerhouse!
A common mistake many new real estate investors make is overlooking the importance of their team, or assembling one which is not motivated. The team of players involved in closing your deals is the key to whether or not you will make a good profit. Sometimes it can even be what makes, or breaks, a deal. When first starting out you have to know these players are go-getters, and you must understand their roles.
 

“Your net work will determine your net worth . Build it carefully!”

 
The following people will help you through the various aspects of your investments. This is a basic guideline for questions you will want to ask your potential team players. These questions are not cast in stone; they simply give an idea of what you need to know. Add some of your own questions as well, and keep in mind something is probably wrong if they don’t have most of the knowledge below.
 
Usually the best people for your power team are those who currently hold a real estate position or were real estate investors with a relatively recent history. They already understand what you are trying to do. It’s easier to work with someone who knows the game and has played it before. You don’t want anyone who insists on playing by an old rulebook, and you certainly don’t want someone who picks up a baseball and says “Let’s play golf!”
 
When I’m interviewing someone for my team, here is what I generally look for:
 
Someone who is self-motivated, focused & open minded. Very often a real estate deal will move fast. If your team members are not dedicated, you could lose it. They should return every phone call promptly, and work hard toward getting to closing.
Someone local. It is important for them to be connected to the area where you intend to buy or sell real estate. He or she must be familiar with all the major players in the area.
 
THE TEAM
 
Realtor®/Real Estate Agent: A realtor is trained and licensed to assist people with the purchase and/or sale of properties. As a point of interest, I attended a real estate agent school and they mostly taught me what not to do in real estate transactions. They teach the rules without explaining how to be creative with contracts and assigning (wholesaling) properties. There are many more ways to make money in real estate than being a taxi service for someone. Your realtor should be willing to be creative. If he or she is not, find somebody who is. Remember, a realtor is not an investor - so if you want to learn how to be investor, don’t be realtor!
 

“A Real Estate Guru once told me the MLS (the Multiple List Service where Realtors place properties for sale) is called the BOOK OF PRAYERS because everyone is praying their property sells!”

 

“Always remember that every transaction is different!”

 
 
Ask the following questions of any realtor you are considering hiring. You must be strong, and to the point. This can make you a lot of money. Conversely, not asking the right questions you can lose lots of money.
 
How long have you been a realtor?
Are you a part of the local Realtor Association in your area?
What events or meetings do you regularly attend?
What percentage do you make on commissions?
Is your fee on top of my price?
Do you work your fee into the sales price?
If I gave you more than one property would you give me a discount, and if so how much?
If I only want your services to put my property on the MLS how much is your fee?
 
Mortgage Broker: A Mortgage Broker is someone who sells a loan to you and other lenders. The first step in the process is called Packaging . This is the procedure of getting all the proper documentation into one packet and forwarding it to a lender who in turn approves the loan amount you are requesting. From there, the broker works with the loan processor to meet all the specifications the lender requires in order to give you the loan. Once all those requirements are met (and they can vary by lender) you will close on the loan.
The mortgage broker’s experience in clo