Real Estate Training Program Instructor: Toyin Dawodu | Weekly time investment: 2 to 4 hours
COURSE OBJECTIVE: Over the next six weeks, you will learn how to:
♦ Find below-market residential properties
♦ Negotiate and construct real estate deals for profit, and
♦ Exit real estate deals in a deliberate, well-planned manner
Introduction
Welcome to The Magic of Real Estate Training Intensive
This is a six-week, interactive online training program built from the ground up to walk students through the process of finding, negotiating and closing their first real estate investment deal.
For the next six weeks, this course will cover six key topics every investor must know in order to be successful in real estate investing. Each week, students will meet online for a two-hour weekend teaching session, followed by a one-hour Q&A session later on in the week. Plan to attend both the teaching sessions AND the Q&A sessions. As well, to ensure success, students will want to complete all workbook assignments by the due date to permit themselves time to assess their assignments and ask any questions related to the assignment during the scheduled Q&A sessions.
Course Tools
♦ Internet connection fit for streaming
♦ Downloadable workbook
♦ Transportation for scouting properties
♦ Phone
Week 1
Lesson 1: Planning, Goal-Setting and Exit Strategy
OBJECTIVE: To help students identify the goals that will direct their actions; to teach students how to start a deal with the end in mind
4 KNOWLEDGE AREAS
♦ Understand your “Why?” and your motivation; reasons for going into real estate investing
♦ Getting past “No”
Overcoming the resistance of your inner “No”
Blocking out NOs from colleagues and people you trust
Being okay hearing “No” from potential buyers and sellers
No is not negative
No frees you up to make other decisions and deals
♦ Goal-setting
Goal-setting is the blueprint for success
How your goals shape the way you construct deals
♦ Exit strategy
Why this is the first thing you need to learn and not the last
How to craft an exit strategy to support your goals
WORKBOOK EXERCISES
♦ Identify your why
♦ What are your wildest dreams?
♦ Write down your top 3 goals for the next six months of real estate investing
How much do you need to make?
Where is the money going?
Are you acquiring properties or flipping them?
Who will be your partners?
Week 2
Lesson 2: Real Estate Investing Crash Course
OBJECTIVE: To teach students the nuts and bolts of the real estate business from an investor’s point of view
3 KNOWLEDGE AREAS
♦ The difference between agents and investors
♦ What determines ownership
♦ What conveys property
Lesson 3: Tools of the Trade
OBJECTIVE: To equip students with an arsenal of tools they will need to work as real estate investors; to train students how to use those tools legally and profitably
2 KNOWLEDGE AREAS
♦ The seven relationships you need to have in place
1. Title company
2. Realtors
3. Other investors
4. Handymen and rehabbers
5. Escrow company / closing agent
6. Property inspector / appraiser
7. Lenders
♦ Interpreting and creating real estate contracts WITHOUT a lawyer
The four main types of contracts
1. Purchase agreement
2. Outright sale
3. Land contract / contract for deed
4. Option Contracts- Control without Ownership
WORKBOOK EXERCISES
♦ Build your list of contacts
Choose three potential partners for each of the seven relationships and initiate contact.
♦ Download and study the contracts
♦ Complete the Contracts quiz
Week 3
Lesson 4: Searching for properties
OBJECTIVE: To teach students how to recognize properties most likely to generate the most profit
6 KNOWLEDGE AREAS
♦ Get the leads – the more the merrier
♦ Real estate is a numbers game
♦ How to recognize a motivated seller when you see one
How to recognize a motivated seller by the property he or she owns
Appearance of the property
Location
♦ Working with Intermediaries
Working with wholesalers and other investors
Buying agent-listed properties
♦ Should you shop on Craigslist.org?
♦ Mobile homes and multi-unit
EXERCISE
♦ Get your first 50 leads
♦ Make at least 5 of those leads mobiles homes or multi-unit structures
Week 4
Lesson 5: Researching the properties
OBJECTIVE: To teach students how to find the owners / stakeholders for any property
4 KNOWLEDGE AREAS
♦ The 3 documents you need to research any property
♦ How to read a preliminary report
♦ Using the county database
♦ What to say when you contact the owners
EXERCISES
♦ Find the owners/stakeholders for every property on your list of leads.
♦ Download the form letter and door flyers and make the initial contact with the owner.
Week 5
Lesson 6: Analyzing Deals and Contracts
OBJECTIVE: To teach students how to calculate the potential profit in any deal
4 KNOWLEDGE AREAS
♦ Determining the intrinsic market value of a property
Calculating profit
♦ Contract reviews
When and how to add protective clauses
♦ Mobile homes
♦ Analyzing the deal – what to take into consideration
EXERCISE
♦ Analyze 10 deals from the workbook
Week 6
Lesson 7: Negotiation and Closing
OBJECTIVE: To teach students how to structure real estate deals for profitability and meeting their goals
7 KNOWLEDGE AREAS
♦ Posture and psychology
Take the right posture and get in the right mindset for negotiating
♦ Go LOW
♦ Make an offer so low you’re embarrassed to make it
♦ Leverage
What is it about this deal that gives you leverage?
♦ Negotiating for women
♦ Getting a deal under contract
♦ Title Insurance and Affidavit
♦ Quiet title
WORKBOOK EXERCISES
♦ Practice dominance behaviors
Holding eye contact
Walking in the center of the sidewalk and trying to make others move just by your presence
Practice sitting in uncomfortable silences; don’t be the first to speak
♦ Find another 50 property leads
[ View program descriptions ]
