the hidden potential working with...

The Hidden Potential

Working with Investors

Wendy Patton

Wendy Patton

The Hidden Potential Working with Investors

Novi, Michigan

Regional Instructor

2

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The Hidden Potential Working with Investors3

“The Blue Book”

The Hidden Potential Working with Investors4

• Why Real Estate Investing?

• Who Is a Real Estate Investor?

• How Do You Find Investor Clients?

• How Do You Keep Them?

• Making Offers for Investors

• Consulting vs. Selling

• Ideas into Action

Build Investor Clients for Life

The Hidden Potential Working with Investors5

Seven Top Reasons to Invest1. A solid investment and tangible asset

2. Best way to leverage finances

3. Timing of the market

4. Pay down and pay off for wealth

5. Tax benefits

6. Cash flow

7. Creativity

The Hidden Potential Working with Investors6

• Accessible – Anyone can buy

• Improvable – Sweat equity

• Livable – Shelter in more ways than one

Additional Reasons to Invest – MREI

The Hidden Potential Working with Investors7

• Because it builds WEALTH!

• You learn by doing, expanding your knowledge.

• You increase your value to clients.

• You are investing in your profession.

Why You Too Should Invest

The Hidden Potential Working with Investors8

. . . the unearned income to finance your life mission

without having to work.

Financial Wealth Is …

The Hidden Potential Working with Investors9

• 59% younger than age 45

• 36% household income $75K-$100K

• 47% household income > $100K

• 59% 2+ household income earners

• 62% buy detached SFHs

• Can be great repeat clients

Who Are Real Estate Investors Now?

The Hidden Potential Working with Investors10

• Why are you NOT investing in your own profession?

• Why is investing NOT a part of your budget?

• What is holding you back?

• Time?

• Money?

• Knowledge?

• FEAR?

Why Real Estate Investing?

The Hidden Potential Working with Investors11

• A person who buys real estate for an investment.

• It is not their personal residence.

• They make calculated decisions, not risks.

• They are sometimes “unusual.”

Who Is a Real Estate Investor?

The Hidden Potential Working with Investors12

They can also be a great repeat customer/client.

But ...

The Hidden Potential Working with Investors13

• Think they know more than you

• Have bad credit

• Have good credit

• Have no credit

• Not want to use their credit

• Have cash

Real Estate Investors Might …

The Hidden Potential Working with Investors14

• Have no cash

• Not want to use their cash

• “Lowball”

• Want “terms”

• Want REOs

• Want fixer-uppers

Real Estate Investors Might …

The Hidden Potential Working with Investors15

Enough said …

They Can Be Unusual

The Hidden Potential Working with Investors16

1. Powered by a Big Why

2. Big Goals, Big Models, and Big Habits

3. Money Matters

4. Net Worth

5. Real Estate

6. Value, Opportunity, and Deals

7. Action

The Seven Ways Millionaire Real

Estate Investors Think

The Hidden Potential Working with Investors17

The Power of Proven Models

Over Trial and Error

Trial &

Error

Your Highest Level of

Achievement

Where You Begin

with Action Based

on Personal

Experience

Where You Begin

with Action Based

on Proven Models

Your Natural Ceiling of

Achievement

The Hidden Potential Working with Investors18

Think Value, Opportunity, and Deals

Make

Deals

Know

Value

Find

Opportunity

The Hidden Potential Working with Investors19

A

LEAD?The Hidden Potential Working with Investors20

The Law of Numbers

The Hidden Potential Working with Investors

1

3

10

30 Consider

Look At

Offers

Buy21

How Millionaire Real Estate Investors

Find Opportunity32%

28%

10%

9%

7%

4%

3%

2%

5%

Networking

Real Estate Agents / MLS

Driving / Walking

Newspaper and Ads

Foreclosure Listings

For Sale By Owners

Internet / Database Research

Targeted Marketing

Other

The Hidden Potential Working with Investors22

• Real Estate Meetings and Conferences

• Real Estate Attorneys

• Real Estate Investor Websites

• Mortgage Lenders

• Newspaper and Internet

• Auctions

How Do You Find Investor Clients?

The Hidden Potential Working with Investors23

• Find Out How to Help Them

• Act Quickly – Opportunity → Deal

• Educate Yourself

• Network with Other Agents

• Build a Network

• Provide the Best Service

• Know How to Work With Them

How Do You Keep Them?

The Hidden Potential Working with Investors24

• Join Local Groups

• Learn the Terminology

• Take Classes

• Read

• Invest in Yourself and FOR Yourself

• Network

Educate Yourself

The Hidden Potential Working with Investors25

Your Network Your Net Worth

Sm

all

Ne

tw

ork

Small

Network

Sm

all

Ne

tw

ork

Small

Net Worth

Sm

all

Ne

tw

ork

Big

NetworkSm

all

Big

Net Worth

The Hidden Potential Working with Investors26

The Millionaire Real Estate Investor’s

Work Network

The Hidden Potential Working with Investors

INNER CIRCLE

Mentors

Partners

Consultants

MILLIONAIRE

REAL ESTATE

INVESTOR

INNER

CIRCLE

Mentors

Partners

Consultants

27

The Millionaire Real Estate Investor’s

Work Network

The Hidden Potential Working with Investors

INNER

CIRCLE

Mentors

Partners

Consultants

MILLIONAIRE

REAL ESTATE

INVESTOR

SUPPORT

CIRCLE

Attorneys Accountants

Lenders

Real Estate

Agents

Property

Managers

Contractors

Investors

28

The Millionaire Real Estate Investor’s

Work Network

The Hidden Potential Working with Investors

MILLIONAIRE

REAL ESTATE

INVESTOR

SERVICE

CIRCLE

Title

Companies

Landscapers

Insurance

Agents

Cleaning

Services

Maintenance

Technician

Appliance

Rentals

AppraisersInspectors

Leasing

Agents

Lawn

Service

BuildersDevelopers

Courthouse

Clerks

Masons

Roofers

Plumbers

Concrete

Companies

Painter

Flooring

& Carpet

Electrician

Carpenter

Financial

Planners

29

The Millionaire Real Estate Investor’s

Work Network

The Hidden Potential Working with Investors

MILLIONAIRE

REAL ESTATE

INVESTOR

INNER

CIRCLE

SERVICE

CIRCLE

SUPPORT

CIRCLE

Attorneys Accountants

Lenders

Real Estate

Agents

Property

Managers

Contractors

Mentors

Title

Companies

Landscapers

Insurance

Agents

Cleaning

Services

Maintenance

Technician

Appliance

Rentals

AppraisersInspectors

Leasing

Agents

BuildersDevelopers

Courthouse

Clerks

Investors

Masons

Roofers

Plumbers

Concrete

Companies

Painter

Flooring

& Carpet

Electrician

Carpenter

Financial

Planners

Partners

Consultants

Lawn

Service

30

What if YOU provided these contacts?

Or just some of them?

A Thought ...

The Hidden Potential Working with Investors31

• Suspects?

• Prospects?

Suspects vs. Prospects

The Hidden Potential Working with Investors32

• Two Kinds of Criteria• What they will consider• What they will buy

• Negotiate Everything • Current Financing Available• Short Sales/Foreclosures• Lease Options – Rent to Own• Seller Financing

Making Offers for Investors

The Hidden Potential Working with Investors33

• Selling is …

• Consulting is …

• The Value of Consulting

Consulting vs. Selling

The Hidden Potential Working with Investors34

The Best Ways to Help MREIs1. Know Suspects vs. Prospects

2. Have Patience

3. Provide the Best Service

4. Know Landlord Tenant Laws

5. Write up Multiple Offers Quickly

6. Understand Tax Implications

The Hidden Potential Working with Investors35

The Best Ways to Help MREIs

7. Learn Different Techniques and 1031 Exchanges

8. Potential Partnership

9. Know Depreciation Rates and Schedules

10.Know the Area and Comps

11.Keep on the MLS and Set Up Searches

12.Do Not Take Anything Personal

The Hidden Potential Working with Investors36

Ideas into Action1. Learn About and Become an Investor

2. Read The Millionaire Real Estate Investor

— “The Blue Book”

3. Attend: MREI Reception

4. Join Your Local REIA

5. Build Your Network ASAP!

The Hidden Potential Working with Investors37

“A few good real estate investors can

be your income stream for life.”

The Hidden Potential Working with Investors

-Wendy Patton

38

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