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Reap Training

This topic contains 30 replies, has 0 voices, and was last updated by Avatar of daviddenison daviddenison 10 years, 10 months ago.

Viewing 15 posts - 1 through 15 (of 32 total)
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  • #5365
    Avatar of daviddenison
    daviddenison
    Member

    Just want to say thanks to Scott and Dave for REAP training in Salt Lake yesterday.
    The new toys, programs and information we talked about have me completely excited to start 2009 with a renewed dedication that this is my year.
    Thanx much Scott, and Dave.

    #28018
    Avatar of homesavers
    NULL
    Member

    Most of us could not be physically present at this REAP training event. Did anyone document this training? I am mainly interested in focusing my “eye” for deals that will work for REAP and CAPP. I am not concerned with how REAP and CAPP work. I will leave that to Scott and Dave. I would hate to spend a lot of time working on deals that will not fit the criteria. I know they need a lot of equity and out here that is created by a short sale. Anything else is as hard to find as a straight talking politician.

    #28019

    @DavidDenison wrote:

    Just want to say thanks to Scott and Dave for REAP training in Salt Lake yesterday. The new toys, programs and information we talked about have me completely excited to start 2009 with a renewed dedication that this is my year. Thanx much Scott, and Dave.

    You are welcome and thanks for attending. We had 8 members present and spent the day detailing how Dave and I complete transactions. Mark came in from Colorado and Thomas came all the way from Texas.

    We are going to be doing NARS/REAP All Day Trainings all across the country to help new members get started and current but discouraged members get fired back up and closing transactions. We will also be hosting a series of Web-Based REAP Workshops to accomidate others.

    Steve will be hosting the Telementoring call this Saturday and we may joi him to discuss some of this too.

    #28020
    Avatar of dave salcido
    dave salcido
    Member

    @DavidDenison wrote:

    Just want to say thanks to Scott and Dave for REAP training in Salt Lake yesterday.
    The new toys, programs and information we talked about have me completely excited to start 2009 with a renewed dedication that this is my year.
    Thanx much Scott, and Dave.

    Thanks for attending Dave. It is obvious that many real estate investors are lacking some of the basic tools and guidance necessary for successfully moving ahead with a real day to day real estate investing business. NARS is great for showing members WHAT the EHT is and how it can be used. REAP training amplifies by showing NARS members HOW to actually set up an office, market like a pro and then start and finish a transaction in an organized, accountable manner. For those that did not attend, this is the outline that Scott and Dave covered in the all day REAP workshop:

    Building your real estate investing storefront
    1. Website and/or weblog
    2. REI Business in a Bag-This is really cool!
    3. So is this! Pocket Business Toolkit-online project management and accountability program for working partners. (No more excuses why a transaction was not completed)

    Stocking the shelves of your store with the right products
    1. NARS Equity Holding Trust
    2. REAP Transaction coordinator/partnership
    3. CAPP- cash investors
    4. REAPmorewealth Continuing Training
    5. Strategic Realty Services-Short Term Trust Trustee services
    6. Loan Modification Services
    7. Short sale services
    8. Loan services

    Marketing your store to the world
    1. Weblog
    2. Viral campaigns
    3. REI clubs
    4. Signs
    5. Video ads
    6. Press releases
    7. Text messaging
    8. Networking
    9. Craigslist
    10. TV, radio, newspapers
    11. Business cards

    Closing the sale at your store
    1. Terms of proposal
    2. NEO
    (market for beneficiaries)
    3. Short sale strategy
    4. loan modification strategy
    5. LTEHT (examples)
    6. STEHT with (CAPP) (examples)
    7. Purchase contract
    8. Terminating the trust
    9. Continuing the trust or creating new trust

    We know it’s difficult if not impossible for some NARS members to come see us in SLC for this workshop. Scott and I are trying to schedule locations where we can get enough attendees to justify our travel and the expense to do so. We are also considering future live webinars. We are trying to do all of this in the middle of all of our travel to NARS hosted 2 1/2 day workshops that in the which we are now participating. I know I can hold up. I’m not so sure about Scott. :lol:

    #28021
    Avatar of tmynar
    tmynar
    Participant

    Yes, I wnet to the REAP Training in Salt Lake City. Kind of different weather for a south Texan.
    I have attended many creative real estate seminars and gurus’ sales pitches in the past 35 years.
    But if anyone wants to be successful in these trying times , you need to get connected with these two, Scott Moyes and Dave Salcido.
    No matter what the cost or circumstances, just do it.
    They are very knowledgeable, compassionate, trustworthy, and in my opinion have all the answers we need to help others solve their real estate challenges.
    Thomas Mynar

    #28022
    Avatar of aliao
    aliao
    Member

    Scott,
    Is there any schedule that you will have REAP training in Dallas Texas area in near future??

    Thanks,
    Alex

    #28023
    Avatar of dave salcido
    dave salcido
    Member

    @aliao wrote:

    Scott,
    Is there any schedule that you will have REAP training in Dallas Texas area in near future??

    Thanks,
    Alex

    Our travel outside of Utah is dictated by the number of attendees for either fee based advanced REAP training or the free NARS 2 1/2 workshop. REAP training requires that you first read and basically understand the contents of the Big Book or A Fortune in Free Real Estate. We would love the opportunity to come to your area, but we will need your help in spreading the word. If we can get a minimum of 20 REAP attendees or 100 NARS workshop attendees, we will gladly fly in. Otherwise, we can host training in SLC or see you if NARS has already scheduled a workshop where you live. (NARS loves to hear your input, so put in a good word for your locale if you are not yet scheduled for a visit from NARS or REAPmoreWealth). We look forward to working with you!

    #28024

    @homesavers wrote:

    THERE IS NO EQUITY!.

    Who Cares if there is no equity. If there isn’t either create it, find another solution or walk away and find one that does.

    BTW, I got two calls from Texas last month from Sellers who had equity and wanted out. I also had a few leads from Texas that didn’t have equity or the interest to stay on a loan. I made offers on all of them anyway and still working with one with equity.

    There is equity out there. But if there is or isn’t, I DON’T CARE.

    #28025
    Avatar of homesavers
    NULL
    Member

    @Scott_L._Moyes wrote:

    Who Cares if there is no equity. If there isn’t either create it, find another solution or walk away and find one that does.

    There is equity out there. But if there is or isn’t, I DON’T CARE.

    You make a good point here, Scott. I finally understand the crux of this whole process. That is to MAKE OFFERS! (as you have been saying). I have tended to create a picture of what I am looking for before I even make the offer. If the property does not fit within what I have created in my mind then I keep looking for one that does. I could have kept going with that mind set for a long time.
    Now that you have said, “no equity” is not a problem then I will focus on making offers and “cherry pick” the ones that make sense. Because all properties either have equity or they don’t. They either cash flow or they don’t. Making offers has nothing to do with those two factors. I just have to get out of thinking that I am making a commitment to the seller when I sign an Option even though “legally” I am not.

    #28026

    Many times I will make an offer to a Seller and get turned down. But, I can’t tell you how many transactions I’ve done from referrals of the ones who didn’t accept my offer for whatever reason.

    #28027

    I think there is a another point, here Scott makes, that can’t be overstated.

    You make a good point here, Scott. I finally understand the crux of this whole process. That is to MAKE OFFERS!

    May I labor these points ?

    Could it be that:

    Making Offers is to ‘Making the Team’, as….

    Many times I will make an offer to a Seller and get turned down. But, I can’t tell you how many transactions I’ve done from referrals of the ones who didn’t accept my offer for whatever reason.

    Getting Referrals from them is ‘Playing with the Varsity.’

    #28028
    Avatar of homesavers
    NULL
    Member

    @agross wrote:

    I think there is a another point, here Scott makes, that can’t be overstated.

    You make a good point here, Scott. I finally understand the crux of this whole process. That is to MAKE OFFERS!

    May I labor these points ?

    Could it be that:

    Making Offers is to ‘Making the Team’, as….

    Many times I will make an offer to a Seller and get turned down. But, I can’t tell you how many transactions I’ve done from referrals of the ones who didn’t accept my offer for whatever reason.

    Getting Referrals from them is ‘Playing with the Varsity.’

    I would like to make the team and play with the Varsity. Not all of us make the team or even play with the Varsity. Most are bench warmers.
    However, I think the key is to learn what and how Scott speaks on the phone. Gaining their “trust ship” is important in order for them to refer people to him. This is the key. If I call I had better sound good on the phone.

    #28029
    Avatar of mars
    mars
    Member

    I want to thank Dave and Scott for another fantastic REAP meeting in Salt Lake City yesterday.
    Questions were asked by those in attendants and most important, we got ANSWERS!
    Yes there was some repartition of what was said at other meetings, however, I had forgot some things until they spoke of it again and added some new information. There is always new ways of saying the same thing where one can understand better.
    They take the fluff out and keep it simple and in their simplicity you end up with a great deal more, the important stuff. That A-HA! Moment will enter your mind more then once listening to what they have to say.
    I highly recommend to anyone who wishes to learn about making money in Real Estate, go to any meeting these two hold. I should say go to as many meetings as you can with Scott and Dave.

    #28030
    Avatar of areyes
    areyes
    Member

    @SoCalGal wrote:

    There is equity out there. But if there is or isn’t, I DON’T CARE.

    Oh, I see. You don’t care not because you can deal with it but because if there’s no equity, you’ll keep looking until you find some equity.

    In CA, that could be quite a lot of looking.

    I’m in CA and you’d have to acquire via REO, short sale, short pay offs (2nds) aka junior bene buyouts, or some sort of loan modification to make EHT’s work as a partial entry strategy. The other way is to focus on lower price points and base it on fair market rents. In some area’s such as Ohio, Texas, Tennessee or price points below $200k, if you can’t sell it, you can easily rent it and have the expenses covered. This would make EHT’s easy to do out in those areas. Another way is to locate properties prior to the ARM fiasco so these would probably be properties that are seasoned for 10-25 years or before 2002-2003.

    Either way, I feel that modifying the loan takes high priority than finding properties with equity. I’d rather take on a property with good fixed rates and reasonable payments that’s overencumbered over a property with equity that has an ARM with high payments. But then again, majority of American’s out there did 100% financing. Affordability is the main concern with RB’s who are capable of making payments.

    I’ve had 18+ NEO’s signed and marketed and none of them closed because most had ARM’s and high payments. Not only that, some were behind in payments. They were completely unmarketable, unsaleable and undoable unless you can mitigate those terms.

    So how do you fix a bad ARM and high payments? Loan modifications. Make the RB pay for the loan modification and you’re good. Make sure the seller mutually agrees and consents to the loan modification and also make sure the seller is willing to walk away. You don’t want the RB to pay for the loan modification and have the seller stay put.

    EHT’s are a good exit strategy but very tough to use as an entry strategy unless you find good underlying terms, purchase REO’s, short sale, loan mods or payoffs.

    The buyers are there! I have a lot of buyers with 5%. Finding properties with good reasonable terms is tough and those that do have good terms can probably lease it out themselves. There’s another road to take that will lead us there and those are the out of state owners or what about the REO investor that just recently purchased all cash and plans to do some sort of lease option or contract for deed as their exit.

    #28031
    Avatar of socalgal
    socalgal
    Participant

    I feel that modifying the loan takes high priority than finding properties with equity.

    If the loan is able to be modified, why then would the owner not want to stay in his home? His loan is now modified to a much more affordable payment. I don’t see how modifying the loan does anything but empower the current homeowner to stay put.

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