Real Estate Investments: Fund, Fix, Flip series – How to Get Started with Wholesaling

How to get started with Real Estate Wholesaling

“A real estate wholesaler contracts with a home seller, markets the home to his potential buyers, and assigns the contract to the buyer. The wholesaler makes a profit, which is the difference between the contracted price with the seller and the amount paid by the buyer.”

Tip of the week: So What Exactly is Wholesaling Real Estate?

Wholesaling is often marketed as a low-to-no cost way of getting into real estate investing and this can be true. A new wholesaler can certainly profit with a much lower initial cash outlay than an investor who has to buy a property and rehab it. However, the successful wholesaler has to have a firm grasp of what makes for an attractive deal – once you understand this process of wholesaling, it becomes much easier and can be broken down into a serious of repeatable steps.

Word from our sponsors:

Flip or Flop

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My co-host today on this podcast is Trevor Evans.
Trevor is a Professional Speaker, Real Estate Investor, Retail Store Owner.
Speaker/Trainer for Rich Dad Education and Founder of Personal Awakening brand “Being Normal Sucks.”
Trevor has also been married for 19 years and have 2 beautiful daughters ages 22 and 18.

Bio: Coach Myrna Young –
Certified Professional Spiritual, Life and Executive Leadership
Coach, Motivational Speaker, Published Author, Realtor and Real Estate Investor
Past president and CEO of A Royal Livery Limousine Service, and Entrepreneur of the year, Myrna is now the President and CEO of MyHelps Consulting LLC. I am also married and the mother of 5 children. Myrna currently lives in South Florida.

Are you on a journey to find happiness through the doorway of wealth?
Living in financial abundance is one way to find happiness but not fulfillment.

You deserve happiness, and you CAN attain it.

The Transform Your Mind with Coach Myrna podcast has entered into collaboration with with Swami’s Brahmananda to offer my listeners guidance and the power of an entire community of happiness seekers, so you too can wake up happy.

For more information please clink the link below and start your Happiness journey

www.nakedmoment.com/transform

Show Notes:

• Topic: How to get started with real estate wholesaling
1. Question 1: Tell us of your path to becoming a Speaker/Trainer for Rich Dad Education.
2. Question 2, What do you feel is a step by step plan to becoming a Real Estate Wholesaler?

Step 1: Create a Database of buyers:
Contact local Rehabbers and Contractors and ask them what kind of properties they are looking for to rehab.
You can find them at your local Chamber of Commerce or your local REIA

Ask them these questions.
1. What kind of properties are they currently rehabbing?
2. Type of properties they like to work with Eg. Single family or multi family?
3. What are they certified to work on? Eg. Are they certified to work on burn down or water damaged properties?

Step 2: Put an AD on Craigslist
Ask the following questions when you get responses to your AD
1. Is the property listed with a Realtor?
2. Are you speaking with the owner of the property?
3. Is the property in Foreclosure, probate, bank owned, or free and clear
4. Does the property need rehab? If so what is the estimated cost of repair.

Step 3: Put together your power team which includes your Title and Escrow Agent.
If you structure your deals properly, you could use one escrow deposit for 10 properties!

Question 3. In our first episode you talk about process. You said that setting up a process prevents failure.
What is the process for the real estate Wholesaler?

Wholesaler Website: do you need one

My friends at Connected Investors wrote this article on Getting started with real estate Wholesaling.

Wholesaling is often touted as the easiest entry point into the world of investing in real estate. And financially speaking the barriers to entry are generally a lot lower, especially when compared to fix and flipping or buy and hold investing. Many experienced, professional investors have door-knocked and bandit-signed their way up the REI ladder without having more than a cell phone, gas money, and the will to WIN. read more …
http://connectedinvestors.com/blog/find-it/wholesaler-website/

• If you found this blog post inspiring, please Subscribe, Rate and Review this Podcast, then send me an email to info@myhelps.us with the subject line “podcast review” and I send you a free gift.

Free eBook: Wholesale Plan of Action Cheat Sheet

This cheat sheet was created by Trevor Evans and Myself and goes into further detail on the Wholesaling steps.

How to Find Beauty in Your Now!

How to find beauty in your Now!

Finding beauty in your Now is the point of all power that unlocks healing, growth, strength, peace, desires, success, and happiness says my guest this week on the Mindset Transformation radio show and podcast.

This week I interview Aireka Harvell, aspiring motivational speaker who focuses on transforming the minds and lives of women with her blog “Be That Woman.” She is also the Founder of Nodat Place Advertising LLC. where she encourages and promotes female entrepreneurship and offers daily motivation and support through her social media platforms.

Today our topic is “How to find Beauty in your Now”
Aireka has a powerful story of overhearing a mother telling her son that she was ugly and that she would treat him better when she was just 9 years old. That tag stayed with her throughout her life and gave birth to low self esteem, becoming a Pleaser and allowing her husband to mentally and physically abuse her. Aireka lived in darkness for most of her life, until one day she heard the voice of God telling her to Help other women “Be That Woman” he made them to be.

Today she has a huge following on Instagram and on her blog and offers Hope and Encouragement with her daily posts.

Listen to find out How to control your mind and bring it under subjection when thoughts of fear and hopelessness threaten to stomp out your joy.

Learn that there is opportunity to learn and grow from every situation.

The tip of the week from Coach Myrna is an except from the book The University of Success by Og Mandino

A Conversation with our manufacturer (God)
God: Tell me “what is your purpose down there on earth”

Man: Well you know “I want to work hard and not hurt anyone, and I want to get along with folks and stay out of trouble”
God: “But what about your talents”

Man: Well what talents I have and there are not much, I take good care of. I kind of pace myself, you know.
No, No,No God shouted, your answers are all wrong. Don’t you remember the story of the talents?

Man: Yes I think so … You gave each of three men a different set of talents. To one man, you gave five talents. To another man, you gave two talents. And to the third, you gave but one talent.

“That’s right says God: and some years later I checked up on each of these three men. I was pleased to find that the man with five talents had multiplied his talents by working hard, and applying each one. The man whom I gave two talents had also labored hard and multiplied them. But when I checked with the man I had only given one talent, I became very angry. For that man had buried his talent in the name of protecting it. To which I cursed him saying “thou wicked and slothful servant” how dare you not use the gifts I gave you. You Knew that I reap where I have not sown and gather where I scattered no seed.
Do you not get the point of this parable?

Man: Yes I think so. I am to use the talents you gave me and multiply them to help others.

God: Let me ask you another question
“Who is in charge of your life?”

Man: I am responsible for my life – but with a few exceptions. I mean sometimes you just don’t get the breaks, you know. Sometimes things just don’t go my way, but that is the way the ball bounces or the way the cookie crumbles”

God jumped to his feet “No, No, No, he shouted. “When will you learn, you are totally responsible for your life, no exceptions. You are totally responsible for the results you obtain. Not your mother, not your father, not your boss. It’s not the breaks, that control your life, it’s you. Don’t ever say that is the way the ball bounces, that it is the way the cookie crumbles. You must bounce your own ball!

Man: Okay, okay I think I see. The fact is that I have been put on earth to succeed, I have an obligation, a responsibility, to use my abilities to the fullest. I must control my life, for I wasn’t designed to be led. I prefer excellence to mediocrity. I won’t prevent my own success, for all success requires is that I am here, and that I use my talents to the world and not wait for the world to come to me. And I will act now, no matter how convenient waiting may seem, no matter how imperfect might be the results I obtain.
Tears welled up in God’s eyes, a smile creased his face.

God: “Thou wonderful and faithful servant, take all the love and energy and talent that you have and share it. Share it with all you meet, until it seems you have no more to give, there will always be more and more in reserve. Your potential extends beyond your wildest imaginings. The only limitations you will ever face will be those you place on yourself”

Johanna Sevier Robb says in her blog post on How to find the Beauty in Everyday Present Moments:

There is so much beauty in the world—and because this crazy, gorgeous life is so fleeting, I want to focus on the beauty.

No, I won’t turn my eyes away from the horrors of the world. But I also won’t become so consumed by these horrors that I no longer notice the wind dancing on the water. Or the tender grasp of my lover. Or the plant on the windowsill stretching toward the sunlight.

I’m not trying to downplay the crap. But I don’t want to crumple into a small, powerless mess each and every time I read the news.

Negativity sells. Sensationalism sells. But this is not reality.

Sure, man’s inhumanity to man is real. But generosity, kindness, humility and love is also real. And I still believe in humanity. Only a tiny bit of the present world can be summed up by violence and acts of terror. Only a tiny bit of human history can be summed up by wars and acts of cruelty.
read more …..https://www.elephantjournal.com/2016/08/how-to-find-the-beauty-in-everyday-present-moments/

~

How to Become a Life Coach

If you liked this content remember to share, subscribe to my iTunes podcast and write a review. Once you do, send me an email to info@myhelps.us with the subject line “Podcast review” and I will send you one of two gifts. My eBook “How to become a Life Coach” or a “Mindset Shift Focus Wheel” a workbook to change from a Fixed Mindset to a Growth Mindset.

Investing in Real Estate: What is the number one mistake people make trying to flip houses?

What is the Number one mistake people make when Flipping houses

The number one mistake people make when investing in real estate is investing before understanding the rules. Listen to learn the rules to win the game of investing in real estate.

A few weeks ago I interviewed my co host Trevor Evans on the topic “The path to Financial Freedom” We received such an overwhelming response to that topic that I decided to have a spin off series on Real Estate Investing. Trevor Evans is a Speaker/Trainer for Legacy Education Alliance and Rich Dad Education. Entrepreneur, Real Estate Investor. Banker and Founder of Personal Awakening Brand “Being Normal Sucks.”

We will start off our series teaching on one of the most popular investment strategies in Real Estate Investing “Funding, Fixing and Flipping.

Flip or Flop

Doing my research for this topic, I found that there is a plethora of mistakes beginning investors make when working with rehab properties. Many of them because of watching shows life MTV’s Flip or Flop where they always end up making the right choices and thus make thousands of dollars in profit!

My co host and I both agree, since we are both Abraham Hicks students, there is nothing wrong with looking for contrast around you and choosing what you want to bring into your vortex.
We are setting the intention that all you would be investors or current investors will gleam from our knowledge and make fewer mistakes with your real estate investments. So if you do fail, you would fail forward!

One of those investment vehicles is to Fund, Fix and Flip houses. It is by far the most popular vehicle because of the opportunity to make a lot of money quickly.

So, make sure you tune in to this podcast twice per month for our series or subscribe to my podcast so as not to miss anything!

In keeping with the format of the show, I want to leave you with my tip of the week.

This week’s tip of the week: Winter is the best time to purchase Real Estate”
From the book “Your money and how to keep it” by Brian Costello

“While economic development can make a difference when it comes to purchasing a house, there is no question that winter is by far the best time to buy.
Think about it for a minute, the weather is freezing cold, the winds are gusting, everything is covered with snow, everybody wants to stay inside where it is warm – and those few who do go outside to see houses that look unattractive because they are knee-deep in snow are serious buyers. Could there be a worst time to be out braving the elements looking for a house? No.
And that’s exactly what happens. Everybody sits tight. No one even thinks about buying a house in the winter months. They are all waiting for the grass to turn green and the flowers to start to bloom.
In the meantime, houses are being put up for sale. The biggest reasons for selling a house still affect the marketplace, no matter what the weather. They include family breakups, company transfers, deaths, and financial hardships.
When a family splits, it’s not uncommon for the house to go up for sale right away as neither spouse has enough money to pay for it outright. If your boss decides to transfer you to another city, you generally have no choice but to move. As a result, your house might be on the market right away, no matter what the market is like. Most of us can’t afford to pay the cost of accommodations in two different locations.

Death, financial hardship, and divorce happens throughout the year; summer and winter. But to have them happen when there are fewer buyers interested in another house always works in the favor of the buyer. It is the old law of supply and demand. And that is what you see in the winter months. There is more supply than there are buyers, so the buyer is in a much better position to demand a lower price, better financing terms or a combination of both.
Winter is also a good time to check that the thermostat is working correctly by looking for heat loss. If the prospective house has less snow on the roof than the other houses, it could indicate that insulation is lacking. When you get inside the house you can listen to the furnace. If it goes on and off while you are there, you know that the house has drafts or furnace problems.
These are some of the reasons why winter is the very best time to get a bargain.”

That is my tip of the week. I hope that you received some nuggets about house hunting for bargains.

Here are some show notes from our expert Trevor Evans:

Words do not make you an expert, experience does. I practice what I teach.

Trevor feels that he is an expert because he is not only a teacher but he is putting in work in the field.

Question: “What is the catalyst to your success as an investor?”
Answer: “Understanding the rules.”

Reasons for failure as an Investor

Most people play the game of investing in real estate with enthusiasm and talent.
Talent could be their investment funds or just understanding money.
But in any game, You should play to win!
In order to win, like in any sport, you must understand the rules.

If you don’t understand the rules, your talent and your enthusiasm will run out before you can win!

But if you combine your Talent and Enthusiasm with Competence, then you could win the championship or make lots of money!

So let’s answer the question:

The Number One Mistake People Make – Getting into the Rehab Game?

Watching TV shows like the Flip or Flop people think that they can just buy a house, throw some money into it and then flip it and make lots of money.
They do not see the underlying problems that happen to first time investors who do not know the rules of the game.
The flip or Flop investors are doing great now; but I am sure it took them a number of years of failure by trial and error to understand the rules to win the game.

Investing is not easy but it is simple, if you follow the rules

Over your head

It is a process that is done through setting up a system or a set of principles.

Principles do not create success, they prevents failure.

3 Reasons for Failure:
1. They get emotionally involved
2. They pay retail
3. They become intimidated

Listen in to learn how to overcome these reasons for failure.

5 Keys to a Successful Mission Driven Life or Business

Leadership is about using the most effective strategies to conquer obstacles while taking consistent steps to move forward when tackling your vision; whether that vision is within the workplace, as a leader of a business or personal leadership.

5 Keys to a Mission Driven Life and Business

Today on the Mindset Transformation radio show and podcast, we focus on Leadership; Keys to a successful mission driven life or business.

Success in life depends on what kind of a leader you are. You may say I am not a leader, I am not a manager or a CEO, true but self leadership is more important than how many people you lead in your home or place of work.

#coachMyrna Tip of the Week

Here are 5 Essential Disciplines for Self Leadership to Lead a Mission Driven Life:

Discipline #1 Accountability
You must learn to take full responsibility for everything on your watch. This means that the fish stinks from the head down!

Discipline # 2 Focus
As a Leader, you will wear many hats. Success comes from knowing where to focus your attention. Everything is important.
Acquiring the skill of discrimination allows the leader to discern what is most important and least important.

Discipline # 3 Organization
Organization is the skill through which chaos is turned into order.

Discipline # 4 Innovation
As a leader you will begin to consciously focus your attention and discriminate where the maximum leverage is.
You will recognize the need for continual improvement and for innovation in your processes.

Discipline # 5 Communication
The skill of communication is evident in how well you communicate your passion, vision, mission to your employees, customers and self

This week on the Mindset Transformation radio and podcast, I interview Business coach, Daphne Lynn Valcin
Daphne’s talks to us about the keys to a successful mission driven life or business.
Since 90% of startup businesses fail, Daphne believes that the quality of life and business leadership is at the root of success or failure.
She believes that leadership is about using the most effective strategies to conquer obstacles while taking consistent steps to move forward when tackling your vision, whether that vision is within the workplace, as a leader of a business or personal leadership.

Show notes:
. Daphne explains what is true leadership.
. What sets successful startup businesses apart from those that fail.
. How a business coach helps clients.
. What does a thriving business look like.
. What are some of the biggest mistakes companies do with their sales and marketing efforts.
. What are some of the characteristics of successful leaders.

Here are 11 strategies for effective leadership from Young Entrepreneur Council:

Leadership advice from Dale Carnegie

When managing my team, I use a tactic from Dale Carnegie: Think in terms of the other person’s wants. The goal is to align a team member’s natural talents and preferences with the company’s goals. What do they want? What motivates them? What do they like to do? Then manage them to reinforce what they want and how they can achieve those things through their work.

How to Program Yourself for Positive Change

How to Program Yourself for Positive Change

This week on Mindset Transformation radio, Coach Myrna interviews coach Dan Willms, Positive Change MBA professor. Out topic today is “How to Program yourself for positive change.

Before I introduce coach Dan Willms, Here is my tip of the week.

From the book Switch: How to change things when change is hard
by Chip Heath and Dan Heath

Here are the facts:

Change is a process

1: Change is usually a situation problem, and not a personal problem.
2: For anything to change, someone must behave differently.
3: To change someone behavior, you must change someone’s situation.
4: For change to stick you must influence the person’s heart and mind.

Here is the story of Arthur that I found on line to illustrate the above points.
Arthur was an airborne paratrooper. Jumping out of airplanes killed his knees, his back, his legs. When he got out of the army he walked with a cane and couldn’t do anything so he gained a lot of weight. He could not support his weight, so he couldn’t do traditional exercise. His health rapidly declined. The doctor at the VA clinic told him to accept his faith, that he would never walk normal again.

One day while surfing the internet, he came across Diamond Dallas Page doing yoga. He said to himself, I could do this. So He bought the DVD! He figured he could use his arm to support his weight and get a cardio workout. Arthur was 297 lbs when he started doing yoga.
When he started his yoga exercises, he kept falling down and falling down, but he kept getting back up again and again!
Every day he got better and better in 10 months he had lost over 100 lbs and could not only walk without a cane but he could run!!

Change is usually situational. Arthur had a situational problem.

Arthur taught himself to do yoga because he decided to take control of his life. He got his heart and mind in the game and changed the situation!

Change is a process.
To lead a process requires persistence. Arthur kept getting back up and trying again to do his exercises.

When a change starts, it builds on itself.
The better Arthur got at yoga, the more he was motivated to keep going.
Small changes can snowball.
Change rarely works unless it is motivated by feeling. Arthur wanted to feel better about himself so he made the hard choices.

That’s my tip of the week from coach. How to change when change is hard.
There can be nothing harder than trying to loose 100 lbs when you can’t use your legs but Arthur found a way and so can you.

Our guest today is coach Dan Willms and he is a positive change guru. This is his space.

Dan Willms is a Life & Business Coach, an MBA Professor, a facilitator for The Leadership Challenge, a writer and an International Speaker – he is also the creator of the Positive Change Workshop and facilitates his workshops in Portuguese, English & Spanish. He has facilitated more than 118 Positive Change Workshops. He loves helping people and organizations to achieve their fullest potential. He is the co-author of the book Strategic Leadership (Liderança Estratégica) and the author of the upcoming book “Positive Change – One life @ a time”.

Dan is also my partner, we do a video blog on YouTube every week called “You asked for it” where we answer questions sent in from our social media network. Like us on Facebook to become part of our community. Myrna Young Lifecoach and Dan Willms.

Show notes:
Question 1. Tell us about your journey to becoming a Life coach and an ambassador for positive change.
Question 2: What is The Positive Change?
Question 3: Tell me about your happiness labs, how does it work?
Question 4: : What were your findings on these labs from your sample size of 400 people?
Question 5: So, based on your labs, what would you say is the secret to happiness?
Question 6: Why do you think is there so much unhappiness in the world?

Coach Myrna and coach Dan, Why we repeat the past