The Transactional Real Estate Investor Show with Blair Halver

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Make Sure Sellers Agree With Verbal and Written Agreement Before Signing May 26, 2020

Show notes

Transactional real estate engineers must always have deal meetings with sellers. This call is for negotiation, for verbal agreements, and to walk through the contract. Once everything is clear and understood, sign the contract right away on the same call!

In this episode, learn how to avoid deals falling apart and seller misunderstandings before closing. Hear how to do double closings and how to find out which lenders do them. Listen about how to fund real estate deals. Discover how to handle a terms deal in which a seller wants money immediately.

Finally, learn how to handle deals involving divorce decrees, and how to deal with sellers wanting their own lawyers to get contracts assigned.

Mentioned Resources:

In this episode we covered:

00:04:41 – Avoiding a subject-to deal with a carryback from falling apart before closing due to misunderstandings
00:15:17 – About a ten-packet cash deal contract that has been signed, how to do a double closing, and how to fund the deal
00:22:10 – About a seller who has come back after three months willing to do business
00:23:00 – How to handle a terms deal in which the seller wants money fast
00:31:12 – How to deal with sellers wanting their own lawyers to get contracts assigned and about trusts
00:39:43 – About trust transfer and whether if separate bank accounts are needed for each trust
00:40:47 – Talk on a client's concerns in a skinny subject-to deal involving a divorce decree to the seller, ownership of the property, and who is named in the mortgage
00:46:00 – Scenarios in which sellers don't get back after having sent the contract, and how to approach a seller who wants to make a cash deal out of two separate houses on two separate lots they own free and clear.
00:54:44 – How to prove a seller's payment when they haven't sent back the authorization release form for a subject-to with a carryback
00:56:16 – Searches that should be done once a property is locked up, average attorney costs, and resources for title search
00:57:41 – Whether acquisitionists are allowed to go on call, and pipeline program on client's behalf
01:00:07 – What to say to sellers and how to approach them in regards to the deal's exit strategies
01:03:31 – Whether the 90-day program can be used to train other team members in a personal business
01:03:57 – What to do if a buyer has locked in with a deposit and then a second buyer pops up with more down payment
01:05:48 – Where to find documents for agreements and declarations of trusts and taxes, and filling in the insurance policy doc.
01:08:44 – Recommendations for lenders who do double closings

About Blair:

Blair is the founder and creator of Dealbot, a motivated seller lead generation company. He has managed nearly $2mm in marketing spend and generated over 100,000 motivated seller leads. He also buys and sells houses himself in the Winston-Salem and Charlotte, NC markets. In the past year, he has acquired nearly $3mm in cash flowing rental properties with zero money out of his pocket.

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Don't Make Promises You Can't Keep When Real Estate Investing! May 21, 2020

Show notes

In real estate investing, you must always strive to use a low-risk, high-reward business model. Don't make promises you can't keep and don't commit yourself to writing checks. The more money you make in a month, the bigger the risk you can take.

In this episode, Blair and Jeff update us on what is going on with the real estate market and discuss different real estate investing and business topics. Learn how to do business with motivated sellers who are selling lodging establishments while taking into account Covid-19. They cover how to market and find comps in isolated rural areas.

Hear firsthand about a client's success closing deals and organizing buyer leads. Finally, learn about an interview process to recruit new team members.

Mentioned Resources:

Propstream
Thick Face Black Heart – book by Chin-Ning Chu on how to create an alligator skin
Craigslist
Indeed
Mojo

In this episode we covered:

00:00 – Start-up
00:53 – Market update and insight on malicious comments on Facebook to investors during the crisis
09:04 – Clients concerns about what somebody in the RIA has said about the neighborhood where he has locked up a cash flow deal
12:14 – Where to find and what kind of photographers are needed to take pictures of houses
12:54 – Whether it is necessary to have a lawyer for transactions of a cash deal that has been locked up in Illinois
14:47 – How to do business with a motivated seller selling her B&B, formerly a , paying $2k a month and taking into account Covid-19
23:43 – A closed deal in which client selling on a lease option for $199k, purchased for $168k and with $35k down, and about another wholesale deal under contract
28:00 – Interview process when recruiting new team members
30:00 – About a client's thoughts on malicious comments to investors on Facebook
31:18 – How to market and find comps for isolated rural areas
37:40 – About a client that talked to a seller that had been in touch previously with another client
39:45 – A client's successful way to organize buyer leads and how his team is working
42:53 – How to handle a subject-to deal with a seller needing $6k over the mortgage amount, a small spread, and tenants still in the property
50:44 – Wrap-up

About Blair:

Multimedia:

Thank you for listening!

You Must Have Alligator Skin in the Real Estate Business! May 19, 2020

Show notes

Build up an alligator skin; don't take things personally, be confident, and always assume control of those conversations. Transactional real estate engineers deal with many different people. Each one has a particular situation, needs, and objections. Most of the time, sellers will want deals to work out their way and make conversations a little more difficult.

In this episode, Blair and Jeff talk about different business topics. Learn the importance of building an alligator skin. Discover how to approach sellers when they have objections to keeping the loan in their name, or they don't want buyers to go to see their house. Listen to a scenario where a subject-to is the only option for a deal and a scenario for a hot deal in Texas with several exit strategies.

Gain skills on how to find comps for a 2-bed, 1-bath and a 1-bed, 1-bath that are listed as a 3-bed, 2-bath, how to handle the closing of a wholesale deal in which seller is not open to terms, and when should a seller vacate a property in regards to closing.

To listen to the full episode go to MoreDealsLessHustle.com

Mentioned Resources:

Zillow
RonLeGrand
Propstream
Thick Face Black Heart – book by Chin-Ning Chu on how to create an alligator skin
Opendoor
RealEstateabc
Craigslist

In this episode we covered:

00:00:00 – Start-up
00:00:45 – About a deal where a subject-to is the only option
00:07:27 – How to do business with a seller who wants to sell ten properties all-cash and move on
00:18:38 – How to find comps for a 2-bed, 1-bath and a 1-bed, 1-bath that are listed as a 3-bed, 2-bath
00:23:29 – The importance of building an alligator skin
00:26:10 – About a deal where buying subject-to the existing loan is the only option
00:29:04 – When should a seller vacate the property in regards to closing as a subject-to deal
00:30:07 – How to transition from opening call to closing call on a single call when there is no time to look into the house and find comps
00:31:18 –About a seller needing a VA loan to move but isn't able to show their income; about VA loans in the economic crisis, reverse mortgages, and how to deal with sellers who object to leaving loan in their name
00:38:26 – How to approach a seller who wants to sell for cash. How to market this house in New Jersey when seller doesn't want buyers to see the house
00:47:42 – How to approach a seller who is selling a property in very poor condition in Albion, Pennsylvania, and prefers cash to terms
00:54:04 – About people looking for rent-to-owns that, after seeing the investor's ads, get in touch to see if they have any properties to sell
00:55:34 – About a custom audience with CSV and what ads to do to get better results
00:58:59 – How to deal with a seller concerned about keeping the mortgage in their name and that appearing on their credit report
01:07:04 – How to handle the closing of a wholesale deal in which seller is not open to terms
01:08:57 – Wrap-up

About Blair:

Multimedia:

Thank you for listening!

Risk Little and Make Lots in Your Real Estate Business! May 14, 2020

Show notes

Make money doing real estate business the proper way. Before starting, get this clear: every real estate investor shares a main goal. Make money by minimizing risks. Don't take risks, save time and money, follow the script, and you will be golden!

In this episode, Blair and Jeff share insights on an article about the 10% of FHA and VA loans that are in forbearance and its effects on the housing business. They tackle business topics like how to approach a deal that lacks information and how to make a deal out of a five-unit building in Detroit that needs a lot of repairs. Learn how to negotiate with sellers when there is a VA loan involved. Hear how rehabbing works and its disadvantages.

Walkthrough a perfect scenario on how significant cash flow is made. Find out how to do business with buyers that can't prove their income and the importance of already having properties ready in case lots of buyers turn up. Finally, hear about section 8 and Dodd-Frank.

To listen to the full episode go to MoreDealsLessHustle.com

Mentioned Resources:

In this episode we covered:

00:00:00 – Start-up
00:01:38 – Insights from article on 10% FHA and VA loans in forbearance and market update
00:03:57 – How to negotiate with a seller who wants a down payment and has a VA loan involved, finding possible structures for this deal, the importance of having all the numbers needed and following the script
00:19:10 – How to do business with a buyer whose income cannot be proved
00:22:51 – How to handle electronic issues a seller is having with payment and sending documents
00:25:27 – About a deal with a land contractor owner-financing the owner of two properties. About the importance of having all the information needed and minimizing risks and about disadvantages of rehabbing
00:41:59 – About a deal where the seller is asking for $200k and wants to do seller financing
00:45:12 – How to explain to somebody what a lease-purchase is
00:47:32 – The importance of having your properties when buyer leads come in
00:48:59 – How to handle a growing successful business; getting people paid, system automated and following up with sellers
01:02:31 – Cont. 41:59 - A scenario for a potential deal with a significant cash flow and financing
01:04:45 – How to structure a deal in which a seller is selling for what she owes and also is asking for money per month for the next year to be able to move to an apartment
01:12:52 – How to make a deal out of a five-unit building in Detroit needing a lot of repairs but at a reasonable price, and about section 8
01:23:09 – How to setup exclusions on Facebook
01:25:54 – About attorneys doing closings in California in regards to title and escrow
01:29:25 – About Dodd-Frank in regards to seller financing and lease options
01:31:41 – How to find an RMLO (residential mortgage loan)
01:32:11 – The oldest family homes we would want to deal with
01:33:16 – Steps to take when a buyer can't be found in the 90-day negotiation before making the first payment to the seller
01:35:08 – Wrap-up

About Blair:

Multimedia:

Thank you for listening!

Follow up With Sellers, a No Today Might Be a Yes Tomorrow! May 12, 2020

Show notes

Dealing with sellers is one of the main things real estate investors do. We are undergoing an economic crisis, meaning fortunes can be made in the housing business. Investors always should follow up with sellers, but now more than ever. Circumstances are changing every day. A seller might not want to do business today, but if their conditions change, they will probably want to do a deal tomorrow.

Blair and Jeff have many tips to make your real estate business work. In this episode, they tackle topics like the power of seller follow-up, how to do seller financing with many possible exit strategies, how to buy subject-to and then selling either with lease-option or seller finance, and how to negotiate a down payment while avoiding using your own money.

Discover how to handle different tools to make your Facebook campaign flow better. Learn how to recognize red background flags on seller's records, tools to market and get wholesale buyers, and the importance of having a HELOC and small lines of credit.

Finally, hear about what you can do with homes in forbearance that appear week after week!

To listen to the full episode go to MoreDealsLessHustle.com

Mentioned Resources:

In this episode we covered:

00:00:00 – Start-up
00:01:08 – About using Textline and Zapier in the Facebook ad campaign
00:04:25 – How to set an autopay for a deal in Mexico
00:05:58 – Maneuvering a new insurance policy to send to mortgage company for a deal in Mexico
00:08:28 – A golden seller financing scenario with many possible exit strategies
00:12:38 – What to do when people are asking for more of your information
00.13:03 – Red background flags on the seller's record we should be concerned about when doing business
00:14:32 – Steps to take for deals not to fall through
00:18:24 – About the transfer of property taxes when buying a property as a non-owner occupant
00:20:06 – A scenario for buying subject-to and then selling either with lease-option or seller finance and about the deed
00:20:10 – Structuring a deal where the buyer is interested in a property that has a two-year hard money loan
00:22:15 – Making sure getting a free house for moving the house would work out
00:23:31 – Doing business with sellers that want to sell because they need to evict somebody from their house
00:26:39 – About a wholesale deal: When to see, sign contract, and negotiate a property when we don't know its condition
00:29:06 – About a typical scenario where a seller's mortgage has finally been sold, and a private individual is collecting the payments
00:31:58 – How to deal with sellers that want to do a subject-to but want down money to move and about cash script
00:34:57 – Doing business in the Detroit market
00:38:11 – When to take a tenant's deposit, before or after application of background check
00:39:08 – How to get the costs covered for a deal with a scenario in which a seller has signed a contract with a new buyer
00:44:58 – How to negotiate a down payment while avoiding using your money
00:48:04 – Jeff's insight on homes going into forbearance
00:49:53 – How to deal with a seller who doesn't want to give an offer for his property and possible strategies if there was an existing asking price
00:57:32 – About closing a wholesale deal with a USD $5000 assignment fee; still buyers in the market.
00:58:06 – About a seller reconsidering owner financing for a deal after having been followed up for three months
01:00:29 – Tools for marketing wholesale deals and all about a wholesale deal with a USD $5000 assignment fee and the importance of having a HELOC and small lines of credit

About Blair:

Multimedia:

Thank you for listening!

Creative Transactional Engineering During This Crisis May 07, 2020

Show notes

In the real estate business, you must always think of creative transactional engineering ways to make your business work, especially in today's economic crisis! There are thousands of opportunities in the housing business and several strategies to choose to make money and do it faster than anyone else; it all depends on how creative you are. Look for those chances, use Blair and Jeff's strategies, and think outside the box. You will become a leading transactional engineer!

In this episode, they tackle several real estate topics. Find out how to approach sellers with confidence and how to get back to them when they back up on a deal. Discover the importance of following up with the ones that have backed up due to the economic crisis. Learn how to negotiate your down payment with sellers.

Learn skills for finding bread and butter deals and how to find lease-option rehab properties. Here's a creative example: figure out if moving a house to get it for free is a business or not. Finally, they discuss modular homes and how what is going on in the market is an opportunity for the housing business.

To listen to the full episode go to MoreDealsLessHustle.com

Mentioned Resources:

In this episode we covered:

00:00 – Start-up
00:51 – How to negotiate a down payment that is too high for a pretty house and other alternatives for this deal
05:27 – About a bread and butter deal: a low-priced property in a rural area
06:51 – How to avoid getting nervous before going over the contract with a seller
10:10 – About a scenario for a subject-to instead of owner-finance and how to fill in the contract section about the pay-off
12:25 – Verifying who is the "decision-maker" before going into the closing call
13:46 – What can be done with risk mortgages
14:50 – About attorneys in California sending closing documents to the title company to get signed and recorded
15:52 – How to reduce the number of people who don't get back to you and forge ahead with deals
17:38 – How to do business with a seller who doesn't want to proceed because of the economic crisis and about modular homes
20:47 – Suggested number to pay for paper closing
21:11 – How to get a seller back on the phone who wasn't convinced about the explanation for owner-financing and wanted cash
28:53 – How to approach a seller who wants all cash for their 1950s house that needs lots of repairs and ARV is $90K
37:30 – How to find a lease-option rehabber
39:47 – Market update in economic crisis: now is an opportunity for the housing business
42:58 – About a realtor sign saying "house for free;" is moving a house to get it for free a business or not, and about two houses ready for marketing
50:19 – About a lease-option and taking the deal as it is with no-cash as the best option
53:04 – Wrap-up

About Blair:

Multimedia:

Thank you for listening!

Negotiation Time: How to Negotiate with a Seller May 05, 2020

Show notes

Negotiation is a Powerful Tool

Negotiation is a powerful tool in the real estate world. Doing it properly could significantly increase your profits. When working with sellers, negotiation must only begin if they come up with a number first!

In this episode, Blair and Jeff talk about various investment business topics. Take note of the insights they have about dispositions in the housing business. Gain negotiation skills and discover resources to make sure you respond faster to all the incoming leads.

Learn More Additional Skills for Running Your Business

Learn how to train acquisitionists remotely and what you must consider when doing comps. Find out how to make sure you are on track with everything in your business. Finally, acquire knowledge about how real estate transactions work.

To listen to the full episode go to MoreDealsLessHustle.com

Mentioned Resources:

In this episode we covered:

00:01:07 – About who signs the insurance policy when buying a subject-to
00:02:47 – About the reason for having lots of leads without responses and what can be done with them, changing the name on a Facebook page, and building the ad template manually
00:07:44 – Tips and insights into dispositions for owner house business
00:15:05 – About providing an acquisitionist with different work resources and getting them trained side-by-side and remotely
00:18:35 – How to make sure sellers make payments during 90 days after signing contract at closing and about who signs the purchase and sales agreement first
00:24:24 – How to determine the ARV of a property, what to consider when doing comps, and where to find comps
00:28:45 – How to handle sellers when advertising they can close whenever they want
00:32:55 – How to negotiate with sellers when their asking price is near estimated value
00:36:46 – Steps to take when you are not sure if the seller is asking too much for their property, about how real estate transactions work, and what happens if we default on an agreement
00:41:01 – MLS dated as public record?
00:41:28 – About KPIs and how to make sure you are on track with goals in your business
00:44:01 – About how many leads need to be generated to get three or four deals a month in the training program
00:45:02 – How to generate scarcity for the deals
00:47:02 – How to approach a seller who wants cash for his clear-and-free property in a rural area and how to negotiate a monthly payment with the seller if he is willing to take terms
00:53:50 – Time for the closing call after having agreed to terms and having the video walkthrough
00:56:08 – What to offer for a free-and-clear handyman special in Alabama, how to negotiate the monthly payment, what to do if the seller mentions interest rate and exit strategy for this deal
01:03:44 – How to proceed and negotiate with sellers who want buyers to come up with numbers first
01:12:18 – Who must sign lawyer's documents at closing
01:15:13 – Wrap-up and market update: business opportunities with mortgages in forbearance

About Blair:

Multimedia:

Thank you for listening!

Have an Adequate Real Estate Team in Place and You're Golden! May 01, 2020

Show notes

In this episode, Blair and Jeff talk about what is necessary to get a real estate team rolling. Learn about the new team member interviewing process, how to market for a salary position, how to pay for dispositions, acquisitions, or both, and how to manage the employee's time.

Discover how to find comps for properties in small rural towns and the perfect exit strategies for them. Find out what's better between finding a property for a buyer or finding a buyer for a property and why, how to sell handyman special lease-options, what a trust document stands for, and the importance of privacy when lawyers deal with these documents.

Dive into the call and gain skills to get leads using a Facebook campaign.

Blair and Jeff have the keys to success in the real estate investment business, so come along today's episode and get started. Once you have the hang of transactional engineering, you will think about delegating tasks. And once you start delegating, you start scaling.

To listen to the full episode go to MoreDealsLessHustle.com

Mentioned Resources:

In this episode we covered:

00:00 – Start-up
00:02:15 – Hiring administrative assistants and acquisitionists. Do administrative assistants do the dispositions?
00:06:12 – Marketing for a salary position with commission potential. Paying for dispositions, acquisitions, or paying for both sides of the deal
00:08:39 – Managing time with employees in regards to lots of leads coming in
00:11:14 – About who handles receiving leads and who does the inbound lead opening and closing calls
00:12:20 – New real estate team members interview process
00:16:40 – About a system for VAs to receive calls from Mojo in order to connect and make outbound calls; learn when to use CallRail
00:19:56 – About asking lease-purchase buyers how much can they afford monthly vs. what is their gross household income?
00:23:08 – About a seller who wants all-cash for a manufactured home on four acres in a small rural town; getting it on terms versus wholesaling, and how to find comps
00:32:58 – Facebook campaign targeting, selecting states, and city testing
00:37:25 – How to find a property for a buyer who wants to put USD $4,000 down and a range of $500 to $600 per month
00:40:50 – Finding a price for a property that needs repairs in a small town lacking comps and terms as an exit strategy
00:48:39 – How to approach a lawyer asking for a trust document, what this means, and how to make sure they keep the privacy of documents
00:52:22 – Pricing a handyman special that needs a lot of work and selling it as a lease-option. When to start marketing buyers for it
00:57:35 – About being one's own trustee
00:59:38 – Insurance needed in a transaction when wanting to sell a property owned by a trust to a buyer under contract for deed
01:01:24 – How to deal with a situation where an end buyer under contract for deed is fixing up a property and files the contractor lien, and about contract for deed vs lease-option

About Blair:

Multimedia:

Thank you for listening!

Aim to Find Buyers Who Are Financially Committed! Apr 29, 2020

Show notes

In this episode, Blair and Jeff offer three perfect samples of how they work out their deals. No matter how difficult sometimes it may be, there is always a way. One of their main goals is to learn through their experiences so they can teach you how to make your money faster!

They tackle various real estate topics. Learn how to approach sellers in regards to: eviction, them getting a new mortgage, defaulting on an agreement, reverse mortgages, and land contracts. Discover how to structure an acquisitionist's commission and base salary and how to handle objections.

Finally, acquire skills in marketing for buyers. Always be cautious as to whom you will put in a house; they must follow-through financially! Find out about the pre-screening call, how to respond to various typical questions buyers or tenants make, how to verify their income, and knowing the screening mechanism before screening a tenant.

To listen to the full episode go to MoreDealsLessHustle.com

Mentioned Resources:

Tenant Verification
Ron LeGrand
Craigslist
Zillow
Pods
Feel the F .. a nd D o I t A nyway – book by Susan Jeffers

In this episode we covered:

00:00:00 – Start-up
00:01:28 – Three deal samples done by Blair and Jeff and lessons learned
00:19:45 – Client questions and comments on three deal samples
00:23:57 – About eviction and trying to get a seller out of the house; an exit strategy for the deal
00:36:06 – About dealing with a seller that is getting a new mortgage, and when to do subject-tos and wraps
00:38:58 – About a client's attorney wanting title insurance at closing
00:43:20 – About a deal in Kentucky with a traditional mortgage and a second lien from a medical bill involving Enterprise Collections from Kentucky Department of Revenue
00:58:25 – Acquisitionist commission structuring and base salary; how to work out the front-end profit
01:01:39 – How to find out if a seller has more liens and loans on a property and finding an exit strategy for this deal
01:05:20 – The risks of going into litigation because a seller has defaulted on an agreement and other ways to approach them
01:14:45 – How to respond to buyers who are asking how much we require down when doing the prescreening
01:16:32 – About eliminating buyers because we have others that can pay more down when marketing for buyers in the pre-screening call
01:18:36 – About verifying buyer income and the screening mechanism before screening tenants
01:23:40 – How to respond to buyers who show resistance to put a down payment because they depend on loans to be able to do so
01:25:15 – Update of a deal in Florida in which a seller was saying a title officer was insisting somebody else should be added to a deed in order to remove them
01:28:13 – A client's first telephone conversation with a seller involving a reverse mortgage and options to approach the deal
01:33:43 – About a seller who wants to do a land contract and the meaning of land contract
01:36:41 – How to deal with sellers and buyers with objections
01:40:10 – A scenario for a terms deal and another for a wholesale deal, all-cash
01:44:44 – Wrap-up

About Blair:

Multimedia:

Thank you for listening!

Get Real Estate Deals by Having Meaningful Conversations with Sellers Apr 27, 2020

Show notes

Are you interested in the housing business? Learn how to become a real estate transactional engineer with Blair and Jeff. They share many strategies and ways to find success when hunting real estate deals and making money. One tip: always have meaningful conversations with sellers!

This episode covers a lot of ground on real estate matters. Discover how to find comps for a house and a horse barn on 24 acres. Learn how to buy a property that has a tax lien where there is a good opportunity for a terms deal, and how to work out a deal involving a USD $14k mortgage reinstatement plus another USD $7k to satisfy the HOA and a private lender.

Finally, hear what they have to say about the average number of conversations you should have with buyers before finding a prospect. When is the right time to negotiate numbers in a deal? Hear if people are still moving forward with down payments in the pandemic, and how to run marketing campaigns to get a lower cost per lead.

Mentioned Resources:

In this episode we covered:

00:00 – Start-up
00:46 – Finding comps for a house and a horse barn on 24 acres
03:04 – How to approach sellers closing within 90 days when we have said we can close right away. How long does it take to close a deal for a property on 24 acres?
06:23 – When to negotiate numbers in a deal
09:01 – Average number of conversations to have with buyers before finding a prospect, where Blair and Jeff's leads are coming from, and whether people are still moving forward with down payments
13:33 – About a client doing business from abroad
14:34 – How to buy a property that has a tax lien where there is a good opportunity for a terms deal
21:08 – Working out a deal involving $14k to reinstate a mortgage plus another $7k to satisfy the HOA and a private lender
29:50 – How to run marketing campaigns to get a lower cost per lead and the reason for no leads coming in when spending $30 bucks
33:02 – About dealing with a new attorney for an owner-finance deal and how to approach them when taking title at land trust
38:05 – About homestead and a seller saying a title officer is insisting somebody else should be added to a deed to remove them
46:07 – About a client's first remote wholesale deal
48:17 – Wrap-up

About Blair:

Multimedia:

Thank you for listening!

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