evaluating discount property at the end of this session, you will be able to: summarize key focal...
TRANSCRIPT
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
Evaluating Discount Property
Evaluating Discount Property
Focal Points
• Location• Property Condition• Price• Financing• Seller’s Motivation/Flexibility
Evaluating Discount Property
Comparables (Comps)
• Address• Sq footage• Age• Bedrooms• Baths• Gar/Carport• Lot Size
• Construction• Price• Days on Mkt• Extras• Distance• Subdivision• Appraisals
Evaluating Discount Property
Finding Comps
• Tax Rolls
• Web Sites
• MLS/Realtors
• Driving for Dollars
• Listing Services
Evaluating Discount Property
Estimating Repairs
• Initial Self Inspection Measuring Tape Ground Tester Marble Screw Driver Software Licensed Inspector
Evaluating Discount Property
Estimating Costs
• Buying Costs
• Holding Costs
• Closing Costs
Evaluating Discount Property
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
Evaluating Discount Property
Foreclosures
• Types of sellers
• Pros
• Cons
• Tips & Considerations
Evaluating Discount Property
Bird Dogs
• Types of sellers
• Pros
• Cons
• Tips & Considerations
Evaluating Discount Property
Courts
• Types of sellers
• Pros
• Cons
• Tips & Considerations
Evaluating Discount Property
Advertising
• Types of sellers
• Pros
• Cons
• Tips & Considerations
Evaluating Discount Property
Advertising
• Flyers• Business Cards• Newspaper Ads• Car Signs• Bandit Signs• Trade shows
• Radio & TV• Website• REIA Groups• Expired MLS• Yard Signs• Direct Mail
Evaluating Discount Property
Contacting Motivated Sellers
1. Advertising
2. Direct Mail
3. Telemarketing
4. Drive By/Door Knocking
Evaluating Discount Property
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
Evaluating Discount Property
Next Session…
Evaluating Discount Property