Dec. 11, 2021

Real Estate Coaching and Training

There are numerous advantages to becoming a real estate agent. Maybe you decide to set your own working hours to earn a living and at the same time assist folks in making sure that they settle in a perfect house.

So if you're planning to hold in all and make a big effort to become a real estate agent, then you can make the best. Remember, you always have the space for growth, whether you're fresh to the industry or a seasoned experienced. Keeping this in mind, you may need a real estate coach who will take you through the DOs and the DONTs in this industry.

Do I really need a real estate coach?

Most of the time, people don’t realize that it is necessary to have a coach. However, coaches are very important when it comes to entrepreneurship.

Let's face it: you can reach your goals by collaborating with anyone. Be it your broker, another agent, a roommate, your spouse, and even your children. If there are some feasible choices for you, you may not require the services of a real estate coach. Thus for you to succeed in the new year, all you need is to make sure that you strengthen your support system.

However, what takes place when your dealer is pulled in a million other things? What if some agents are also taking care of other things and at the same time, you cannot find any training course coming up that addresses your problem, and your roommate, family, and friends barely have time to listen to your day, let alone try to help you solve it?

Then you may need a coach to overcome sales obstacles. In fact, it may be the only solution to taking your organization to the next level of success. When real estate sales are not working for you, and you don't have any sufficient resources to turn to your loss to success at the moment, effective real estate trainers are worth their weight in gold.

Therefore, you may not consider real estate coaching as your first line of defense, but they are important and are part of your sales. Besides, a real estate coach is your go-to person anytime you are confused, ignorant, or disappointed.

Real state coaching programs

If you're at a place in your business where you want to devote more time to studying and don't want to waste time searching the web for coaching programs, then this list will help you save your time. Each one is a solution to a different set of requirements, so you'll be able to locate anything that meets your requirements.

Tom Ferry

Coming from a real estate dynasty, Tom Ferry has one of the most recognizable names in the industry (real estate coach Mike Ferry is his father). Tom forged his own path and now runs a thriving coaching firm. He has a YouTube channel, podcast, coaching events, and even his own software solution in addition to his coaching firm. His coaching customers are partnered with their own Tom Ferry-certified coach for one-on-one therapy. Tom Ferry has over 30,000 hours of experience.

Core+, Team+, and Elite+ are three separate real estate coaching packages to choose from. All these packages cover different topics. This includes leadership skills, sales confidence, and lead creation. His seminars focus on real estate agents on a personal level. Thus, encouraging the agents to make positive changes, create objectives, and offer resources to hold them accountable.

Mike Ferry

Mike Ferry's company is known as the "godfather" of real estate mentoring (not to be confused with his son, Tom Ferry). The best agents have used his techniques. His approach includes one-on-one coaching, events, training modules, courses, and a variety of other ways to ingest the information.

Mike Ferry organization has helped thousands of agents. These agents become more productive hence a boost in their real estate sales. The organization has been effective for over 44-year history when it comes to real estate coaching programs. Mike Ferry's coaching program will benefit agents who are ready to raise their sales and learn to work smarter, not harder.

The real estate trainer

Brian Icenhower, a real estate executive, speaker, and mentor, founded The Real Estate Trainer, powered by Icenhower Coaching & Consulting (ICC). Brian is well-known in the industry as the former CEO of Keller Williams, a real estate firm based in Kansas City. Since June 2019, ICC has provided coaching to 500 real estate brokers, assisting them in achieving their objectives. Average sale price, lead generation, and total commission income all increased for agents.

The ICC program's success is owed to the network of coaches they use. Again, their ability to meet each client's unique needs and the accountability structure that they have in place to guarantee clients stay on track to reach their objectives also contributed to their success. The agents who gain the most from this real estate coaching program are those who are looking for personalized instruction to organize their internal processes and workflows. The ICC program is designed to assist agents, and their teams become more productive, efficient, and confident.

Tim and Julie Harris

Tim and Julie Harris are top-selling real estate brokers who are also outstanding coaches. They're also best-selling writers who have teamed up with other specialists to deliver cutting-edge methods and business knowledge to assist agents to succeed. This coach gives you five different programs to choose from. Each curriculum offers substantial value as well as a full list of resources:

  • Premier
  • Premier accountability
  • Premier VIP
  • Premier plus
  • Elite

 

The semi-private and private phone calls that members receive each month are the key difference between these programs. Agents are eligible for one to four calls each month, depending on the plan they choose.

A private Facebook group, daily group coaching calls, a resource library, events, marketing and branding, and more are available to all participating agents. Each course is tailored to make sure that it meets the needs and abilities of the agents. As a result of this training, participants have reported greater closing rates, shorter days on the market, and enhanced bargaining abilities.

Buffin & company

Another well-known brand in the real estate market is Brian Buffini's coaching program. Buffini & Company Coaching Solutions was formed by Brian Buffini, a former top-performing real estate agent and owner of Buffini & Company. This is North America's largest consulting, coaching, and growing organization. Over the last decades, Buffini & Company has been assisting agents in increasing their lead generation productivity. Over three million agents in 37 countries have completed the campaign and grown their businesses as a result. There are three types of coaching available:

  • Group coaching
  • Referral Maker
  • One2One Coaching

These programs are designed to help agents generate more leads, close more sales, and streamline their operations. It was made to assist agents in generating more leads, closing more transactions, and streamlining processes. A Referral Maker CRM for generating leads is also included in each package and a monthly marketing kit.

Workman success system

Workman Success Systems is a specialized system when it comes to real estate coaching. From their name, you can get the explanation of their coaching focus: systems. Their coaching includes access to BAM (Buyer Agent Mastery), SLAM (Seller Listing Agent Mastery), AMP (Admin Mastery Program), and RAMP (Real Estate Mastery Program) (Rising Agent Mastery Program). One-on-one coaching, live calls, webinars, and the Leverage event are part of their coaching package.

How to choose a real estate coach

There are several excellent real estate coaching programs available, but they are all different. The program you select should be based on your budget and a broad assessment of your demands. Consider your objectives and compare each program to pick the one that best meets your needs.

Many coaching programs include participant testimonials on their websites. Read these to learn more about which program is right for you and what kind of experience you desire — for example, are there online and offline options?

Many real estate coaching programs necessitate a significant financial as well as time commitment. You need to take time to come to an effective decision and take advantage of free consultations to ask questions and ensure which curriculum is best for you.

These coaches should be on your radar no matter where you are in your real estate career. Most offer free material that you should take advantage of, and you can learn which ones best suit your needs and which ones don't.

Dec. 11, 2021

Multifamily Syndication Business

The strategy by which entrepreneurs pool their funds and expertise to invest in real estate projects that might be capital-intensive or sophisticated for a single investor is known as real estate syndication. This method is not new; investors have been teaming together to get real estate ventures off the ground since the beginning of the property market.

One of the most pressing challenges for multifamily syndication is how to generate funds for their investments. This post will assist you whether you're just getting started and need money without a track record or if you've done a few deals but have exhausted your network.

What is multifamily syndication?

A multifamily syndicate is a group of investors who pool their funds to construct or purchase real estate together. As a result, multifamily syndication occurs when a group of investors pools their funds to purchase a property, such as an apartment complex. Hotels, prefabricated home parks, student housing, warehouses, land development, warehouses, and other real estate syndications are among the other forms of real estate syndications.

What are the best ways to get into business

1. Find an off-market deal

Identifying a multifamily syndication deal that isn't on the market and introducing it to a seasoned investor who can close it may be what you are thinking of.

However, before looking for projects to an experienced investor, determine WHO you need to show it to. Next, you need to qualify them, so you don't waste time. Remember, time is really valuable.

If you are thinking of qualifying them, they need to meet the following criteria:

They need to be ready to arrange the deal in a way that suits your goals They also need to have closed on similar homes that you'll be looking for. Your investors should be reliable and willing to provide references - don't rush into a contract. Because you're bringing in investor funds, and collaboration has a lot of ramifications.

2. Deals should be underwritten cautiously

Applying your skills to a company (or individual) with a lot of deal flow and wants assistance in underwriting deals can sometimes be overwhelming. Thus you may be thinking of hiring a handful of UCLA MBA students who will be taking the initial underwriting. You will continue from there and finish the analysis. This will give you time to concentrate on other things hence the growth of the company.

3. Negotiate terms and make other legal documents ready

Obtaining a legal education is an optional process. You may decide to forget about this if you're not an attorney or don't want to earn a legal degree.

This may not be a realistic route into the industry, but it might work if you already have a legal degree. To begin with, the person in charge of the acquisition is almost certainly the one who negotiates the conditions. Therefore, all that's left are legal documents. In most circumstances, paying legal costs on the multifamily syndication projects makes more financial sense than bringing an attorney in as a General Partner. However, you can come across a company that has expanded to where having an internal council makes financial sense.

4. Raise capital for your ongoing deal

Whether you're ready to generate funds and act as the main contact on a deal, you may break into the industry by teaming up with one who knows the multifamily syndication game inside and out. This would be someone that has a proven track record and can prove to you how much money they've made on previous deals. This will help you an estimate of how much money you can expect to make in the future.

You will align your interests by bringing in more money, even though your partner should have money in the agreement (beware if they don't, because what happens if the business fails). Maybe from your network, you can find someone willing to offer you financial backing. However, this is only true if your possible partner and investment connections believe you're a capable businessperson.

Remember that unless you have a Securities License, you must join as a general partner if you are raising funds for a business that someone else has acquired. Raising funds for deals in which you are not a General Partnership partner is illegal without this. In any case, you should consult a securities attorney before attempting any of the following.

5. Work on your project management

You can break into the property management sector in a variety of ways as an experienced property manager. Here are a few examples:

You may bring your team's track record of turning deals around by networking with local, aspiring investors who want to close deals but don't have the experience. They are the ones who bring the money for the transaction. You have the advantage here because they wouldn't be able to acquire debt financing without you or another property manager, and they'd have a hard time raising the equity any other way).

Offer to trade your multifamily syndication fees for a chance to be a part of their next venture if you work with a professional organization. This could help them pitch the merger to their investors by demonstrating that their interests are aligned. You have less power than the person in the last case, and you also provide a lot of value.

You may use a combination of these approaches to acquire funds for multifamily syndication transactions while also exchanging your property management fees in exchange for being a part of the deal. You acquire more equity in the agreement if you raise more money.

How can you raise money for the multifamily syndication investment?

Mortgage

A mortgage is the greatest option if you have an excellent credit score. It isn't always easy to obtain such large sums of money. For a very good reason, banks will approve multifamily syndication more easily than single-family properties.

The weight of the payments is shared rather than carried by one person in multifamily syndication. For the bank, the risk is spread out. Even if one of the homes is vacant, the installment can be paid by another. One of the major advantages of investing in a multifamily building is the ability to diversify your portfolio.

Remember, a down payment of at least 20% is required.

Crowdfunding

Crowdfunding has exploded in popularity in the previous years. There are at least 100 websites dedicated solely to multifamily syndication as of today.

Should you choose to crowdfund your property, be prepared to market it as you've never done before. It doesn't matter if you're online or offline. And maybe, you'll succeed. You'll be a part-owner of your multifamily syndication if you can make it work.

Loans made from hard cash

Individuals, rather than financial institutions, make these loans. Typically, these lenders are more concerned with the property than with the borrower. They are more interested in properties After Repair Value (ARV).

Credit scores are not that important when it comes to hard loans, and you might potentially borrow without putting down any money. Although this may be considered good news, keep in mind that hard money loans demand high-interest rates. The borrowing costs can be nearly 10% higher in some circumstances.

Most of the hard cash loans are short-term loans. Therefore they have a quick payback time. As a result, categorically, you should know that your home begins to generate revenue by then.

Other than the credit ratings, there are some other features to enjoy. There is a lot of flexibility because these loans aren't from financial institutions. Everything is negotiable. The time frame, installment amount, collateral, and even payment method are all factors to consider.

Home equity loans

Home equity loans are ideal for anyone who owns a property and wants to invest.

Regardless of having a mortgage on your property, you still own a portion of it. That percentage represents your home's equity. You can use your house for the loan if you own enough of it (have enough equity).

Friends and relatives

You may always go to your friends or relatives for help. It's critical to approach with prudence right now. Remember, a number of relationships may and have been ruined by money. If you're confident that you'll make enough money, contacting a friend or family member may be a good choice.

The benefit is that the creditor is familiar with and understands you. As a result, you are free to discuss how much you can refund and when you will be able to do so. Regardless of your relationship with the lender, it's always best to put everything out in black and white so no future confusion.

Tips on getting investors to fund you

These tips should be taken to consideration BEFORE you identify a deal to buy to minimize uncertainty, stress, and the possibility of not closing because the equity could not be raised. When working on these tips, you should understand that there is no time constraint; don't fear when you don't have enough time to pool investor resources.

Choose your specialization.

Many investors in the real eastate make the mistake of chasing different types of properties in different markets. They're on the lookout for rabbits which should not be the case.

Choose your specialization. Why? Because effective multifamily syndication needs you to focus on a particular property type and market area.

You'll have to pick on your area of expertise. Choose a property type and market in which you have significant knowledge and a strong interest.

So, choose a niche and don't take chances with rabbits.

Prepare a pitch book

Generate a bundle of facts on what you're doing. Establish a business plan to go along with your investing strategy. You'll write a 10-page pitch book on your investing strategy that explains how you'll make money for yourself and your investors.

When you're talking to investors about your investment strategy, the pitch book becomes a useful tool. Your pitch book should explain exactly how you are planning to create money for them.

This pitch book will become the most important part of your company. It's the foundation of your multifamily syndication company. This should be a reflection of who you are and what you know. The pitch book will define who you are and what the investors and other people should know about you.

Make a list of your potential investors

Once you have gathered your facts right and put your strategy in place, you can compile a list of potential investors. All those people in your network who could be interested in investing. You'll compile a list of folks with whom you'll eventually speak about your multifamily syndication game plan.

This should be a list of individuals you think could be interested in real estate investing. Friends and family are the finest and simplest places to begin. Other locations to look for investors for your list include:

  • Associates
  • Accountants and financial planners
  • Attorneys
  • Owners of properties

 

This is just a beginning point for you. Remember to ask everyone on your list if they can recommend anyone else who could be interested in multifamily syndication investment.

Invite investors to a meeting

You will meet with potential investors on your list. You'll share with them about your pitch book and your strategy.

Throughout these sessions, your purpose should not be to sell them anything but ignite their interest in your strategy. You're attempting to spark their interest in the possibility of generating a lot of money while also making a big impact on the planet by engaging in your game plan.

In these investor meetings, you'll be discussing your multifamily syndication business strategy or your money-making strategy. You're not discussing a specific contract. At the end of the day, all you're attempting to do is check if your prospective investors are interested in your plan.

Develop an investor database

Every one of the investors that are interested in your business proposal is included in a database…

This is a YES database. It should be a unique database that necessitates some control and administration. This is your database of possible investors in the fantastic bargains you locate, so keep it updated.

The purpose of this is to maintain communication with your YES Database. Maintain their interest in what you're doing. Keep them occupied while you wait to provide them a bargain.

Staying connected and keeping your brand in front of your database can be accomplished in various ways. However, by submitting your database information, you will eventually establish a drip campaign.

Nov. 3, 2021

Boxabl Homes California

Boxabl Home California: Tiny Homes Under $50k available

The tiny house lifestyle is a worldwide trend that has exploded in popularity. This is more evident in overcrowded cities. However, rural areas where a small home can help the occupant reconnect with nature are not left out. Downsizing—not just in terms of space and "things," but also in terms of living costs—is one of the apparent advantages of tiny home living.

Due to the housing crisis in California and its neighbouring towns and the high cost of living, most people are seeking new methods to supplement their income. Boxabl homes California has devised a cost-effective solution to meet these expanding demands. Therefore they are a manufacturing modular house company that is tiny and pocket friendly as well.

What are Boxabl homes?

Boxabls are made in a high-precision production setting with cutting-edge materials and the most up-to-date technologies. This implies that your home will be built faster and with durable materials. Moreover, you will be using less energy.

The Boxabl tiny homes' breakthrough technology has fundamentally redefined how a house is created. Each Boxabl is handcrafted in the Boxabl Factory, a climate-controlled facility in Nevada that employs some of the most cutting-edge technology and production techniques. As a result, they are a better-than-average home at a lower-than-average price.

What is contained in each boxabl Casita?

Basically, everyone globally has been working hard to be able to buy larger homes than we require. However, due to the increased population, we would need something different. The Boxabl Casita gives you the best by ensuring that you have a perfect home in a tiny space.

Although, in terms of the small house trend, it isn't so small! The size is comparable to a converted double garage at 375 square feet, and it's built as a studio apartment. The difference is that it has a full-size bathroom and kitchen facilities.

The Casita is composed of a full-size modern kitchen. This includes a large fridge, oven, dishwasher, microwave, and a tall window that is fitted over the sink. Besides, it has a perfect modern breakfast bar that is big enough for two. The only things you'll require are a bed and seats.

A full-sized bathroom with a shower, tub, backlit mirror, and plenty of storage is hidden behind a modern sliding glass barn door. Under the enormous 8″ windows and the 9.6-foot ceiling, heating and air conditioning will regulate the room temperature. For complete lighting, the hose comes with controllable LED lights that will make sure that your house is well lit.

This modular has an open floor layout comprising of a bedroom, kitchen, bathroom, dining and living area. A wide-plank composite flooring, a built-in ironing centre, washer and dryer, and all appliances are equipped with modern technology. This also includes integrated USB ports in the power outlets.

Why Boxabl homes California

Boxabl's first target audience was California. The state legislation in this area is more favorable than in the past to obtain an additional dwelling unit for its citizens. Thanks to Governor Gavin Newsom, who signed AB 68 into law in 2019. This law made substantial modifications to allow businesses like Boxabls homes Carlifonia easier to sell since approval and construction barriers were scraped off. The above law was to help increase the supply of affordable housing in California.

On the other hand, authorities must now approve one independent accessory housing unit of up to 1,200 square feet. Anyone interested in purchasing a Boxabl home in California will require a contractor to put it together. Remember Boxabl maintains a list of suggested contractors who can help you achieve your tiny house dream.

The cost

The completely furnished Casita Boxabl house is sold at about $50K. Since these models are furnished, you'll only need a foundation to lay it on. Once you have your foundation ready, you can connect it to local utilities.

The apartments were designed to be particularly eco friendly. They are made of high R-value insulation, a tight building envelope, and minimal thermal bridging. This results in a monthly electricity bill of roughly $28.

Boxabl homes California is a terrific alternative for buying a property. Even if you're thinking of cashing in on a new beach house or entirely downsizing, there's no reason you can't live in your dream house today with the Boxabl homes solutions.

Aug. 24, 2021

Finding the Best Mentor in Real Estate Investing

Forums like BiggerPockets and social media sites like Instagram can be vital for finding driven individuals whose message resonates with you, before reaching out to them to see if they would be willing to give you guidance within the industry. It is important that you not think of yourself as ‘looking for a mentor’ in the most general sense, but looking for someone whose work and passion meshes with your own.

Before you contact them, however, be sure you do an inventory of what skills you have and what you can bring to or give to the mentor. The time of these big players is incredibly valuable, and so there is a need for reciprocity when they donate it to your education. If you find that you do not have the skills they need, go get those skills or otherwise plug those holes in your education before finding a mentor. In fact, it’s best to come to a mentor with an offer of how you can help them, rather than asking what they need.

 

Aug. 24, 2021

Guide to Adding Value to Industrial and Commercial Real Estate Properties

Value-add plays in industrial real estate are one of the most profitable strategies in the industrial niche. Buildings that have low rents can often be bought for a low price before adding value and boosting rents by 30% or more.

Value-add plays can involve bringing dilapidated buildings back up to code, such as fixing ADA issues, sprinkler systems, and HVAC issues. However, they can also be about maximizing the available space -- limiting common areas, providing lofted structures for office spaces, or ensuring that the maximum vertical height can be used by tenants looking to engage in warehousing.

Aug. 24, 2021

Who Owns Most of the Properties in the Industrial Real Estate Market?

Most of the industrial square footage in the United States are owned by large corporations and huge firms working with buildings greater than 1 million square feet. However, in terms of quantity, especially at the smaller scale of 10,000 square feet or below, the vast majority of the market inventory is owned by mom and pop outfits, many of whom are beginning to age out of the business and looking for an exit sale.

Fortunately, these two distinct sub-niches of the industrial real estate market rarely interact. In general, there are large real estate firms doing cash deals for huge spaces -- and competing only with other firms of their size -- and then smaller actors operating in the 10,000 square foot or less space along more traditional real estate investing lines, which will be the kinds of properties sought out by those looking to get into industrial real estate investing.  

 

Aug. 24, 2021

What are the Benefits of Industrial & Commercial Real Estate Investing?

Though industrial real estate investing has, on average, single-digit returns on investment, its main benefit is that it has very strong fundamentals. Not only is the demand for industrial real estate rather recession-resistant (and first to recover when it is not), but the pricing by square foot rather neatly matches local supply and demand curves, unlike habitation real estate that can be pulled away from real prices by wild speculation.

Also, the current industrial real estate market -- especially for smaller properties less than 10,000 square feet -- is ripe for investment as older mom and pop owners look to sell off the properties they bought in the 1980s and 1990s, most of which have significant value-add opportunities, having seen little capital improvement since their original purchase. 

 

Aug. 24, 2021

How do I Qualify for a Bridge Loan?

Bridge loans are geared toward buyers with great FICO scores, with lenders generally preferring to see a score of 740 or above. You also need to have significant equity in your current home, as a bridge loan can only go as high as 75% of that equity. This means that you can’t expect your current home equity of $200,000 to get you a loan higher than $150,000.

Once you qualify for a bridge loan, the whole process should be done in 30-days or less. Because it is a non-traditional loan product, lenders have an incentive to move faster because they do not see the volume of traditional FHA lenders.

 

Aug. 24, 2021

What is a Bridge Loan? A Nontraditional Real Estate Loan Service

For someone who has lived in their home for a long time and built up significant equity in it, but wants to move into a new home, a bridge loan can be an excellent choice to simplify the process of receiving a mortgage loan to finance the new property.

With a bridge loan, you can take equity out of your existing home -- up to 75% -- and use it on a downpayment for a new home. This acts as a non-contingent offer, being executed at the same time as the new mortgage, so that if you don’t wind up closing on the new home you aren’t stuck holding a ton of cash.

A bridge loan includes a stipulation that your old home goes on the market, and you do not make any payments on that old mortgage for 12 months, giving your home plenty of time to be sold such that the old mortgage can be paid off (though there is a ‘bloom rate’ at the end of those 12 months).

Bridge loans are a great choice for anyone who is looking for a new home and doesn’t want to potentially get stuck owing payments on two mortgages.

Aug. 24, 2021

What is the Minimum Credit Score for an ITIN Home Mortgage Loan?

While an FHA loan likes to see a FICO credit score of 580+, preferring credit scores in the range of 620-640, ITIN loans do not go quite so low. 640 is the preferred minimum, with the occasional lender being willing to go as low as a FICO score of 600. However, top-tier clients have a 720+ FICO score, and they get the lowest interest rates and the lowest downpayment requirements.

However, if you are seeking an ITIN home loan and have not yet established credit, an ITIN loan is still possible. The only thing is, your interest rate will be high -- around 7% -- and you will need to put down 25% of the total value as a downpayment.