Chapter 7

Execute

Use this method every time you buy a property and you will always find winning deals.
 
1.  Decide what type of investor you are—flipper or landlord
2.  Compile mailing lists of motivated sellers
3.  Proofread your mailing lists
4.  Use a proven mail piece with a small amount of recipient personalization
5.  Send out many letters in nice looking envelopes
6.  Make sure you have a good system for creating renovation budgets
7.  Go on appointments, be pleasant
8.  Work backwards from ARV to formulate safe offers for flips
9.  Use an income/expense spreadsheet to find rental properties with at least a 15% ROI
10.  Make offers with odd numbers, no big round numbers
11.  Refer sellers to local agents for referral income if no deal possibility
12.  Close on a project

That’s it!  

These 12 steps will give you everything you need to find awesome off-market deals that you won’t see on your local MLS.  It takes time and effort, but the payoff can be huge.  

I cannot stress enough the importance of being selective.  It’s exciting when you get your first lead and it’s hard not to cheat your numbers a bit to force a deal.  Always stick to your process and only buy properties that are such good deals that it’s obvious that you should buy them.  If you have any hesitation, don’t move forward.  

I hope you enjoyed reading this e-book, and please consider leaving a review!