Real Estate Promo . com

 
Home

Home Study Courses

Seminar Trail
Discussion Groups

Business Cards

Street Signs
Book List
Articles & Other Resources
Investment Clubs
CashFlow 101 Clubs
Investment Properties
For Sale
Foreclosure Listings
Real Estate News
Contact Info
Affiliates
Real Estate Links

Featured Link

Bookmark This Site !
 

About - Mike Jacka
Real Estate Promo, Inc.
2675 Stillwater Rd E
Maplewood, MN 55119

Phone:
(866) 779-6446

Fax:
(651) 770-6290

E-mail:

Copyright © 2002-2008

 Real Estate Promo, Inc.
All Rights Reserved

Legal Disclaimer

 

Calculators
 


FREE bi-weekly eNewsletter
Enter your name and email address below:

Enter your Name:

Enter your Email:

Click Here
for more info and
sign-up bonuses!

 
Site Map

 

Real Estate Articles


FAST AND LOOSE
A Street Smart Secret to Making More Money
by Louis Brown
Satisfied Customer
Thanks a million for your course!  I have been enjoying your "Whole Enchilada" package over the last few months.  The knowledge that you have shared throughout your courses is phenomenal.  I knew I needed a system of keeping track of my documentation, which you easily supply on your forms disc.  But the information and the knowledge that you packed into your forms is incredible.  I only wish I had come accross your courses sooner.  You are correct.  This really is "the only way to fly."

Just yesterday I closed on a fixer property.  I got the seller to take a zero interest, zero payment loan for $70,000.  There is just a balloon due in eight months.  No payments and no interest!  The money I am saving on this one strategy alone is well worth more than the full cost of your "Whole Enchilada."  And that is just one idea from your negotiations course!

Sincerely,
Mike Walker
President of Rapid Solutions, Inc.
Portland, OR

Most entrepreneurs have a drive and understanding of the big picture of what it takes to make money. But I’ve found a wide majority of entrepreneurs suffer from a learning disability called ADD - Attention Deficit Disorder. As a result they tend to ignore or step over important details to get to the brass ring.
  
Now, I don’t find in my research that having ADD is a bad thing - in fact I find that it is good. Why? Because this type of entrepreneur is able see the forest - not just the trees. They don’t care about the Maple or Poplar trees. They pay attention to the fact they are at the forest. Ignoring the details, they stay focused on why they are doing the task - to make money. The problem is the devil is in the details. A discussion with only a few experienced investors will reveal war story after war story of problems, law suits and lost money that can be traced back to playing “fast and loose” and not attending to business. Its important to acknowledge the truth before one can search for a solution. The best real estate teams/partnerships I’ve seen revolved around one partner who “sleighs the dragons” - goes and negotiates the deals and the other who handles all the details - does the original paperwork, sets up the closing, follows up on the title search, sets up the files and completes the paperwork after the closing.
  
The most successful contract renovations follow the same avenues. Creating a proper “Scope of Work” outline of work to be performed, the “Independent Contractor Agreement” and the final “Payment Draw Schedule” before finding someone to do the work.
  
The same thread follows all aspects of making and saving money in the real estate investment business whether it be properly finding, interviewing, evaluating and admitting a tenant, whether it be systematically managing that tenant through to move-out, whether it be getting a property ready for sale or rental, whether it be getting a property marketed for sale or rental, whether it be all the different offers that can be made for the purchase of the property - many steps should be followed to maximize profits and minimize loses.
  
Isn’t it amazing that professional airline pilots go through a complete written checklist and verification procedure each and every time they go out - even if they just landed a few minutes earlier? Why? It is because your mind plays tricks on you. It gets easily confused and recalls things from a previous session that didn’t get done this time. Now compare that system to entrepreneurs who don’t usually buy one property right after another or do one “subject-to” deal right after the last or place one tenant after another. Things can easily be left out. Mistakes occur playing “fast and loose”, which cost big money/profit.
  
If you are smart you will take the advice of Michael Gerber who wrote “The e-myth”. He states that for a business to be a real success it can be, it must be reduced to a system. Following a system of procedures you can’t lose and hidden profits aren’t lost to not playing the game in full.
Copyright 2004 Street Smart Systems

 

Back to Article List

Home Page | Contact Info | Site Map | Affiliates | Legal Disclaimer