Transcript Focus Friday - FORTRIS Tax Sale Training

Special Operations
Mastery Event
June 15
Celebrate Your
Decision
Special Operations Mastery Event 2013
END STATE
Consistent Way to
Make Money for the
Rest of Your Life
Special Operations Mastery Event 2013
“ At One Point in Your Life You Either
Have the Thing you Want or the
Reasons Why You Don't “
- Andy Roddick
Special Operations Mastery Event 2013
Agenda
Saturday
Educate in the Morning
Train in Afternoon – Hands on
- MONEY TASKS
Special Operations Mastery Event 2013
Agenda
Sunday
Expanding and Optimizing
- IRAs, Private Money, Outsourcing
Rehab Network, etc.
Special Operations Mastery Event 2013
Agenda
Today is What & How
Tomorrow is Where
+ Bonuses
Special Operations Mastery Event 2013
Agenda
Breaks
Review = Video Copy
Special Operations Mastery Event 2013
Agenda
On Time
Special Operations Mastery Event 2013
Story
Left Marine Corps
Made a Bunch of Money
Lost a Bunch of Money
Making a Bunch of Money
Will NEVER go Back to Old Ways of Business
Special Operations Mastery Event 2013
Special Operations Mastery Event 2013
Special Operations Mastery Event 2013
Training Goal
•
•
•
•
Know what to do, what not to do
Gain certainty working a process
Get out of rat race
Achieve independence
Special Operations Mastery Event 2013
Requirements
•
•
•
•
Know your strengths
Know your resources
Know the techniques
Know how to implement techniques within
your strengths and resources to make the
right progress
Special Operations Mastery Event 2013
Envision The End State
Passive Income
Work Once, Keep Getting Paid
Think Longer Term
You, Your kids, Your Grandkids
Special Operations Mastery Event 2013
How to Get Success
Translate Strategies Into a Consistent
Process to Achieve Goals
Special Operations Mastery Event 2013
Expectations
• Must be Set
• Must be Realistic
• Can’t always evaluate progress
against best case scenario
Special Operations Mastery Event 2013
How to Get Success
Must Do Tasks
VS.
Optimal/Optional Tasks
They Compete with Each other
Special Operations Mastery Event 2013
Reality
• Know the Must Do Tasks that
MAKE MONEY
• Different from Optimizing tasks that
IMPROVE PROFIT
Special Operations Mastery Event 2013
Money Tasks
• Get Leads
• Get Leads
• Get Leads
• Get Leads
Special Operations Mastery Event 2013
Money Tasks
•
•
•
•
Reviewing Lists is everything
List Management is the MONEY
Find Properties – All exits rely on this
Must Become Routine!
Special Operations Mastery Event 2013
What are Tax Sales
Property taxes are owed
If not paid there are consequences
Consequences Vary per state
Special Operations Mastery Event 2013
Tax sales Were Not What I Thought
Counties Need the Money
No Price Negotiations!
More Deal Flow, could still make Cash
Cheaper Deals, Less Competition
Larger Buying Area with Online Research
Special Operations Mastery Event 2013
The Playing Field
Special Operations Mastery Event 2013
Playing Field
•
•
•
•
•
•
Liens that Redeem
Deeds that Redeem
Deeds that you own right now
Int Rate vs penalty Rate
Many Auction Formats made for competition
Buy at Auctions or Before/After Auctions
Special Operations Mastery Event 2013
Investor Type
•
•
•
•
•
Finder
Buy and wholesale (can’t contract w/ county)
Rehabber needs a Money Partner
Money Partner needs a rehabber
Buy Fix & Sell or Hold
Special Operations Mastery Event 2013
Strategies
1&2) Buying Tax Liens AFTER the auction for max rate
allowed hoping it will redeem.
– Letting it redeem or Selling it to others for split
3) Buy Liens AFTER auction, that likely WON’T redeem
4) Send Mail to properties that have liens and buy from
owner before end of redemption
Special Operations Mastery Event 2013
Strategies
5) Mail to Tax Deed sale list,buy BEFORE live tax auction
6) Look at county Struck-off or county owned property
for rehabs and lots/land.
Special Operations Mastery Event 2013
Where Rubber Meets Road
• Match buying strategy with state rules with
investor type
– Called Annual Wealth Roadmap
– Different for everyone
• Timing is everything, find the spots and keep
going back year after year
Special Operations Mastery Event 2013
Strategy 1 & 2 Liens to Redeem
• Buying Tax Liens AFTER the auction
OVER THE COUNTER
• Letting it redeem or
• Selling it to others for split
Applied when you HAVE money or
KNOW where to get money
Special Operations Mastery Event 2013
Liens to Redeem - Process
•
•
•
•
Filter list with GIS – land vs structure
Look at Maps - Property condition/location
Property type
Value - websites like Totalviewrealestate.com
– Assessed value?
– Previous taxes paid?
– Condition- drive by agent to check if occupied
Special Operations Mastery Event 2013
Liens to Redeem - Process
• Title check for anything big
– Check online if possible, call girl in courthouse if necessary
– BK, FC, No EPA, No Bld Dept issues
• Exit 1 - Buy the lien, hold To Redemption
James job
Special Operations Mastery Event 2013
Liens to Redeem - Process
Exit 2 - Selling the Lien or buying with someone
else’s money
• Penalty states are best
• Get your money up front if possible
• Roll your own money assigning (flipping) the liens
Special Operations Mastery Event 2013
Strategy #3 Liens to Deeds
• Buy Liens AFTER auction, that likely
WONT redeem
Applied when you don’t have money and
submit to Fortris or others
Special Operations Mastery Event 2013
Liens to Deeds - Process
•
•
•
•
•
Looking for Liens that likely WONT REDEEM
Filter with GIS – land vs structure
Look at Maps - Property condition/location
Property type
Value - websites like Totalviewrealestate.com
– Assessed? Previous taxes paid? Vacant?
– Condition- drive by, or Contractor look
Special Operations Mastery Event 2013
Liens to Deeds - Process
• Can use myrouteonline.com if you’re going to
drive around.
• Title check for issues
– Check online if possible, call girl in courthouse if necessary
– No BK, No FC, No EPA, No Bld Dept issues, Out of town?
– Et al, how many people were notified
• Buy the lien, File for ownership, then Quiet Title
Special Operations Mastery Event 2013
Strategy # 4 Mailing Lien’d Owners
• This is buying AFTER AUCTION
• Send postcard to properties that have
liens and buy from owner
Applied when you have SOME money and
can submit to Fortris or others
Special Operations Mastery Event 2013
Strategy # 4 Mailing Lien’d Owners
• Card format is in Research Center
• Mail 30 days prior to redemption
• 2 touches – white card, read headline
• Then yellow card, with headline
• Get attention, don’t freak them out
Special Operations Mastery Event 2013
Mailing Lien’d Owners - Process
• Get list of lien’d property from county
– OR get live list just prior to auction, then get
leftover OTC list and subtract
• Filter list with GIS – land vs structure
– And get MAILING ADDRESS for houses
• Clean up duplicates
Special Operations Mastery Event 2013
Mailing Lien’d Owners - Process
• Create click2mail.com account
• Prepare file in the way click2mail.com
wants it
• Katrina can show an upload during the
workshop, It’s 3 clicks and it’s mailed
Special Operations Mastery Event 2013
Mailing Lien’d Owners - Process
• Owners will call back
• Only evaluate those who call
• Liens wont be cleared, this is negotiation to
make something work, might be equity or not.
• Can contract and wholesale, rehab, hold, etc..
Any exit, You HAVE TIME
Special Operations Mastery Event 2013
Strategy #5 Mail to Deed Auction
• This is buying BEFORE AUCTION
• Mail to Tax Deed Sale list
Applied when you have SOME money and
can submit to Fortris or cash buyers
Special Operations Mastery Event 2013
Strategy #5 Mail to Deed Auction
• Have to hustle to get deal before sale
• San Bernadino example during
workshop
• Hustle to exit or have the cash to buy
Special Operations Mastery Event 2013
Mail to Deed Auction - Process
• Get list of lien’d property from county
• Filter list with GIS – land vs structure
– And get MAILING ADDRESS For Houses
• Clean up duplicates
Special Operations Mastery Event 2013
Mail to Deed Auction - Process
• Create click2mail.com account
• Prepare file in the way click2mail.com
wants it
• It’s 3 clicks and it’s mailed to house
owners
Special Operations Mastery Event 2013
Mail to Deed Auction - Process
•
•
•
•
Owners will call back
Only evaluate those who call
Need Repair Est and Repaired Value
Can contract and wholesale, rehab, hold,
etc.. Any exit, BUT BE QUICK ABOUT IT
Special Operations Mastery Event 2013
Strategy # 6 – FLC Deeds
• This is Buying AFTER the Auctions
– Already OWNED BY COUNTY
Applies when you don’t have money and
need to find things to own now
Special Operations Mastery Event 2013
FLC Deeds - Process
• Foreclosed Land Commission, Struck off,
Lands Available for Taxes, etc.
• Look at county owned property for
rehabs or lots
Special Operations Mastery Event 2013
FLC Deeds - Process
•
•
•
•
Filter list with GIS – land vs structure
Look at Maps - Property condition/location
Property type
Value – website like Totalviewrealestate.com & Agent
– Assessed value?
– Previous taxes paid?
– Condition- drive by Contractor
Special Operations Mastery Event 2013
FLC Deeds - Process
• Title check for anything big
– Check online if possible, call girl in courthouse if necessary
– No BK, No FC, No EPA, No Bld Dept issues
• Action to Quiet Title – Hire attorney
– Can take several months, get last owners to sign quit claim
deed to save the time
Special Operations Mastery Event 2013
FLC Deeds - Process
Finders – Non Circumvent agreement to work with a
partner. Or Buy it, then wholesale, or hold etc.. Many
exits
Special Operations Mastery Event 2013
Command Center
Facilitates Getting lists and Mailing to lists
and Researching lists.
List of OTC states -Calendar or List
summary
Research State
GIS link to start filtering
Our staff to outsource – support ticket
Go over properties on list
Or Mail to list
Submit deal review if necessary
Find partner with money in
Collaboration Center
Fortris Buys it and pays a fee to finder
You buy it ( inside IRA?)
Wholesale Deed or Lien
Keep and Renovate - Material orders
through vendor network
Sell or hold
Special Operations Mastery Event 2013
Workshop
Taxsaletraining.com/workshop
Filter = List + GIS Link to search
Goal – Get used to different list types and data
on the GIS maps & property card
Special Operations Mastery Event 2013
Click2mail DEMO
Katrina – Greenville
-It’s filtered
-Sent to houses
-500 cards sent
Special Operations Mastery Event 2013
Valuation – Buy THIS Not THAT
NOT THIS
AR Howard 850-00494-000
This is an example of an
unconventional house all
masonry.
Special Operations Mastery Event 2013
Valuation – Buy THIS Not THAT
NOT THIS
examples of close piers
Special Operations Mastery Event 2013
Valuation – Buy THIS Not THAT
NOT THIS
Lien amount $500
Paid 10% $ 50
Title fee due $ 30
Balance
$480
Elect Tower is owned by We
Energy Company
Was a county right away
Special Operations Mastery Event 2013
Valuation – Buy THIS Not THAT
NOT THIS
This house is built outside the
building envelope
Special Operations Mastery Event 2013
Valuation – Buy THIS Not THAT
Buy This
Special Operations Mastery Event 2013