Table of Contents - Volume 5

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					 REAL ESTATE JOBBING
    The Next Level
                     Volume 5




                 “Bridging the Gap”


Barry J Grimes
TABLE OF FIGURES ..........................................................................................5
INTRODUCTION ..................................................................................................6
 Taking The Next Step........................................................................................6
 The Targets for Volume 5 ................................................................................8
 The Next Logical Step .......................................................................................8
 Continuing Education.......................................................................................10
PROPERTY BUYING 101 ..............................................................................17
 Finding the Property ........................................................................................17
 Property Analysis ..............................................................................................18
 Estimating Repairs............................................................................................22
 Negotiating the Deal ........................................................................................25
 My Offer Was Accepted, Now What? .........................................................27
 Closing the Deal.................................................................................................30
 What Are Closing Costs? ................................................................................30
 Some Mistakes to Avoid .................................................................................32
 Let’s Wrap it Up .................................................................................................33
 Recommended Resources..............................................................................34
REAL ESTATE WHOLESALING 101 ......................................................35
 Flipping vs. Wholesaling .................................................................................36
 Retailing Revisited ............................................................................................39
 Your Buyers .........................................................................................................40
 Marketing for Wholesalers .............................................................................48
 Primary Marketing Sources ...........................................................................50
 Secondary Marketing Sources......................................................................58
 Third Party Marketing Sources ....................................................................61
 Database Goldmine!.........................................................................................63
 Your Target Service Area ...............................................................................67
 A Few Final Marketing Thoughts .................................................................70
 Your Offer.............................................................................................................72
 The Magic Formula ...........................................................................................72
 Websites Revisited............................................................................................75
 Wholesaling Summary ....................................................................................81
 Recommended Resources..............................................................................83
REAL ESTATE INVESTING CONTRACTS 101 ................................84
 What Makes a Contract Valid? .....................................................................85
 Earnest Money....................................................................................................87
 Contract Contingencies...................................................................................89
 What Contract Should I Use? .......................................................................93
 Some Important Contract Considerations...............................................97
 Land Trust ............................................................................................................98
 Contract Common Sense .............................................................................100
 Recommended Resources............................................................................101
REAL ESTATE INVESTING STRATEGIES 101 .............................103
The 2004 Real Estate Jobber Course - Volume 5

 Subject To..........................................................................................................104
 The “Due on Sale” Issue ..............................................................................105
 How Does Sub 2 Work? ................................................................................107
 Subject 2 Example..........................................................................................110
 Short Sales ........................................................................................................116
 How Does a Short Sale Work? ...................................................................118
 A Final Word on Short Sales .......................................................................125
 Lease Options ...................................................................................................127
 The Keys .............................................................................................................129
 How Does Lease Options Work?................................................................130
 Buy and Hold ....................................................................................................131
 Investment Strategy Summary.................................................................133
 Recommended Resources............................................................................134
REAL ESTATE INVESTING FINANCING 101 ................................136
 No Money Down?.............................................................................................136
 Do I Need Good Credit?................................................................................137
 Hard Money Lenders ......................................................................................139
 Private Money lenders...................................................................................141
 Roth IRA .............................................................................................................144
 Partners...............................................................................................................146
 Owner Financing..............................................................................................147
 Friends & Family..............................................................................................148
 Conventional Loans ........................................................................................149
 Personal Lines of Credit................................................................................150
 Credit Cards ......................................................................................................151
 Make Your Own Money .................................................................................152
 Recommended Resources............................................................................153
YOUR REAL ESTATE INVESTING BUSINESS ..............................154
 Your Office .........................................................................................................155
 Your Team..........................................................................................................160
 Your Investor Tool Kit ...................................................................................164
 Your Legal Considerations ...........................................................................166
 Don’t Forget… ...................................................................................................167
 Recommended Resources............................................................................168
SOME FINAL THOUGHTS ..........................................................................169
COURSE SUMMARY ......................................................................................171
 In Volume 1.......................................................................................................171
 In Volume 2.......................................................................................................173
 In Volume 3.......................................................................................................175
 In Volume 4.......................................................................................................178
 In Volume 5.......................................................................................................180
 There You Have It! .........................................................................................182
 My Recipe For Success..................................................................................183


Barry J. Grimes                                                                                                         3
The 2004 Real Estate Jobber Course - Volume 5


APPENDIX A – FREE REPORTS .............................................................184
 Special Report: Foreclosure in Florida ....................................................185
 How to Sell Your Home In 7 Days….........................................................190
 How to Sell Your House As Is… .................................................................197
 14 Questions to ask a Real Estate Agent ..............................................201
 How to Buy a New Home Now…................................................................203
 Some Reasons to Own Your Own Home ................................................211
 Some Tax Advantages of Owning a Home............................................213
 Things You Should Know About Moving.................................................217
NOTES ...................................................................................................................227
 Start Your Plan Here ......................................................................................227




Barry J. Grimes                                                                                                          4
                                     TABLE OF FIGURES



Figure 1 - Sample Property Appraisal Report............................................................. 20
Figure 2 - Cost Approach to Calculate Value............................................................. 21
Figure 3 - Appraiser's Determination of ARV............................................................ 22
Figure 4 - Website Wholesale Property ...................................................................... 46
Figure 5 - Sample Assignment of Contract................................................................. 48
Figure 6 - Sample Postcard Template......................................................................... 52
Figure 7 - Sample Postcard ......................................................................................... 54
Figure 8 - Sample Classified Ad................................................................................. 56
Figure 9 - Sample Divorce Log .................................................................................. 64
Figure 10 - Direct Mail Database................................................................................ 65
Figure 11 - Sample Mail Merge Labels ...................................................................... 66
Figure 12 - Sample Labels After Mail Merge............................................................. 66
Figure 13 - Barry's Target Area .................................................................................. 70
Figure 14 - Sample Property Record ......................................................................... 73
Figure 15 - Sample Comps ......................................................................................... 74
Figure 16 - Wholesaler Website ................................................................................. 76
Figure 17 - Online Buyer Profile Form....................................................................... 77
Figure 18 - Motivated Seller Website......................................................................... 78
Figure 19 - Online Property Consultation Form ......................................................... 79
Figure 20 - Earnest Money as Sole Remedy Clause................................................... 91
Figure 21 - Extend Closing Date Clause..................................................................... 92
Figure 22 - FAR BAR Parties Section........................................................................ 95
Figure 23 - FAR BAR Part I ....................................................................................... 95
Figure 24 - FAR BAR Section II ................................................................................ 95
Figure 25 - FAR BAR Section IV............................................................................... 96
Figure 26 - FAR BAR Section VI............................................................................... 96
Figure 27 - FAR BAR Section XIV............................................................................ 97
Figure 28 - Sample "Due on Sale” Clause................................................................ 106
Figure 29 - Sub 2 Property Record ........................................................................... 111
Figure 30 - Sub 2 Tax Record................................................................................... 111
Figure 31 - Sub 2 Comps .......................................................................................... 112
Figure 32 - Sub 2 Refinance ..................................................................................... 113
Figure 33 - Sub 2 Original Mortgage Payoff ............................................................ 113
Figure 34 - Sample Foreclosure Service Report ....................................................... 119
Figure 35 - Sample Short Sale Net Offer Sheet........................................................ 122
Figure 36 - Sample Short Sale Results ..................................................................... 125
Figure 37 - Credit Bureau Contact Info .................................................................... 138
Figure 38 - Sample Private Money Ad ..................................................................... 143

				
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