Put a price on their heads. I have found that when people call and I take down their name, phone number and email address, that it also helps to put a price on how much money I could make from them. You can do this by taking the price of the home or homes that they are looking for and calculating the commission or profit that is possible if they buy from you. This shift in thoughts can help propel you from seeing them as another annoying person to deal with, to seeing them as a trip to Jamaica, a new car, or taking 4 weeks off of work. To ad to this thought whenever I pick up the phone I say to myself, “This could be Cancun right here”. Keeping the end result in mind will make me want to do my best with every customer.

For a one on one consultation with me visit www.TheForeclosureCollege.com

Eric Medemar

www.TheForeclosureFinder.com

Check out my other posts on www.reiclub.com and www.Biggerpockets.com

Keep them until they buy, die or cry. I know this sounds a little harsh but once you ad a new customer to your buyer or seller list don’t stop mailing, calling, and emailing until they buy from you, die, or cry for you to stop. Almost every person who calls you will eventually buy or sell some form of real estate, if they don’t buy from you it is completely your fault. Put all customers into some sort of a keep in touch system.

If you are a realtor who has neglected your customer list for more than a few years be sure to send out a letter of apology to previous clients. If you are a new realtor start your database right away, and stay on it. Yes, it will be tough to justify the time and expense of contact letters but in the long run you will truly thank yourself. As a new agent it would seem the last thing you would want to pay attention to are people who won’t buy for another 5 years, but believe me these people will be the life blood of your business.

I can remember when I started; I couldn’t even imagine how I was going to make it till next month in the business, let alone 5 years down the road. Yes, many agents do fail but don’t make the mistake of believing you are one of them. Always remember as Henry Ford put it “Whether you think that you can, or that you can’t, your usually right”

Eric Medemar
www.TheForeclosureCollege.com
www.TheForeclosureFinder.com

I just read this quote from Muhammad Ali

“I am the greatest,
I said that even before I knew I was
Don’t tell me I can’t do something.
Don’t tell me it’s impossible.
Don’t tell me I’m not the greatest.
I’m the double greatest”

I love it, we should all think we are the greatest, because we are the only us that there is. If were the only us, then we must be the greatest. If we each thought we were the greatest I think that so much more would be accomplished by everyone of us.

Eric Medemar
www.TheForeclosureCollege.com
www.TheForeclosureFinder.com

Many times in real estate or anything in life for that matter things can get a little overwhelming. I use storybooking to motivate and set the direction for anything that I would like to achieve. Storybooking is very similar to goal setting only many will find it slightly less intimidating. I use storybooking with every rehab that I do, I used story booking to get going in real estate, you can use storybooking for just about anything large that you need to overcome in life.

Here is a shortened example of storybooking your way to wholesaling

Title Wholesaling

Chapter 1 Learn market
1. Set up lunch with 5 realtors and pick their brain about market conditions
2. Study the tax records for previous sales
3. Go to www.Zillow.com and study sales prices
4. Find the most profitable and fastest growing areas in my range

Chapter 2 Find buyers
1. Call all cash for your house ads
2. Call all cash for your house signs
3. Run ads in local paper
4. Talk with realtors about buyers that they might have
5. Talk to other wholesalers about buyers that they might have outside of themselves
6. Check tax records for movers and shakers

Chapter 3 Find Houses
1. Call realtors about sending you new foreclosures
2. Watch the local paper for new listings
3. Check the HUD website every week
4. Call cash for house people and see if they wholesale any houses
5. Drive around and look for vacant houses

Chapter 4 Put the home under contract
1. Find out what title companies in your area will do back to back closings

Anyway you get the idea, it is pretty much like your average goal setting without all of the built in fears that the word Goal carries with it. Simply start your title with what you would like to do. Add chapter for the major steps that will get you to where you want to be. Break the chapters down into important pages or steps that you will need to complete to get where you want to be.

Foreclosures and flips manual Click Here!

Just remember the best way to eat an elephant is one bite at a time. Newbies dont get overwhelmed by the grand scope of real estate. Break the huge title of real estate investing down into little steps that you are confident that you can achieve. Lack of confidence typically leads to lack of action, and lack of action leads to know where.

Eric Medemar
www.FreeHUDGuide.com
www.IncomeHomes.com

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Setting goals and keeping them is something that I have always been intrigued by.

Why do people not set goals? The fact is, most people spend more time printing a map to Disney world than they do making the map that will become their lives.

Why do people need goals? Living life without having specific, and measurable goals is a lot like trying to put together a puzzle without having a picture to look at. A goal is the prize on the other side of the wall that life puts in front of you. If your pretty sure that there is nothing on the other side of that 10ft wall then why would you climb it? A goal is what gets you over life’s obstacles, it gives you reasons for doing what you are doing.

Its here proven software for goal setting, motivation and wealth building Click Here!

What types of goals are best? If you even have goals your one step ahead, but the best types of goals are written and very specific. Having too many goals makes achieving any of them very difficult. Remember when you were a kid and played the catch a snowflake on your tongue game? The snowflakes were everywhere yet none would fall in your mouth until you focused on just one snowflake, then it was easy. Too many goals are like the light bulb that lights an entire room, specific goals are like a laser, focused light, they can cut through metal.

Eric Medemar
www.TheMillionairesBlog.com
www.TheForeclosureCollege.com

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I talk to endless amounts of people who have been thinking of getting into real estate their whole lives. Here is what you need to know.

If you have been “thinking about getting into real estate” for more than a month or two, you are no longer “thinking about getting into real estate” but instead you are “thinking of reasons why you should not do real estate”.

Real estate investing is really easy ill lay it out here, every thing you need to know:

Flipping
1. Buy a home
2. Sell it for more than you paid

If you want to wholesale

1. Find a buyer
2. Find a Home
3. Use your buyers money to buy the home your going to sell to him.

If you want to get into rentals
1. Buy a home that rents for 1% or more of what you paid.
2. Check what most homes rent for in the area and be sure that the one your buying is nicer than them, and you can afford to rent it for $50 to $100 less than them.

I know that it is a hare more complicated than this but its definately not rocket science. Im an idiot and I do a ton of real estate.

“Thinking about buying real estate” is like wanting to shoot a deer but never bringing your gun to the woods. You could be the worlds best tracker, best scouter, and have the perfect place to hunt, and the perfect blind, but if you never bring your weapon out to the woods, more than likely you wont shoot a deer.

If you would like to talk to me personally about real estate investing visit www.TheForeclosureCollege.com

Eric Medemar
www.TheMillionairesBlog.com
www.TheForeclosureCollege.com

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A lesson in Wholesaling

1. Make sure that your buyers are solid (have cash or preapproval letter)
2. Make sure that your buyers wont try to cut you out of the transaction
3. If comps are strong put under contract, just buy with the usual contract that all agents use. Put as little down as possible, and be sure you have an easy out for the first 7 days of the contract.
4. During that 7 days once it is under contract show it to all of your buyers and get a contract from them with a sizeable deposoit (at least enough to cover any expenses you might incurr if they back out). If none of them want it then use your out.
5. If you signed the original contract with “your name and or assignees” you can assign the contract to your buyer who you already have a contract with.
6. If you dont mind closing on it (slightly more expensive), then you could simply do a simultaneous closing. If the buyer has cash then you would close on the home. The title company would then close on the home with your buyer. Then they would take his money to pay off the first transaction and he would bring another check to you for the difference.
7. Your paid.

Things to keep in mind.

1. There are alot of investors out there who get upset if they see that your making too much money. If I run into one of them many times I wont assign the contract, I will do a simultaneous closing. That way I close the home, then I sell it too them right afterword and close on my transaction using their money. Doing it this way costs more because you end up doing one extra step, but this way the buyer doesnt know what you paid for the property. (I dont know why investors get mad if I make alot of money, who cares they are going to make good money too)

2. When doing comps pay close attention to more than the size of the home and bedrooms and baths. Be sure that the bedooms are livable, that the yard is usable, and that kitchens and baths are user friendly. Floor plans are very expensive to change and they can make or break your flip. Try to tour what else is available on the market and see what the competition is after all that is what your up against when you sell.

3. If the home has been on the market for quite a while, you need to look over the deal carefully. If it was priced to high and you get the price way down then your probably safe. Price is what pays so be sure theres not something your missing. Keep in mind if your giving close to full asking price and the home has sat for quite a while, then every investor has passed on it for one reason or another. I always tell people who want to buy aged inventory and they dont get price down that they are pretty much saying that “I know more than every single investor who has been in this home”.

If you would like to talk to me personally about wholesaling or flipping properties visit www.TheForeclosureCollege.com

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www.TheForeclosureCollege.com