Time for action quick start real estate property plan

Chapter 16: Step 15 You are now ready to get into action!  It’s time to hit the ground running Time: Perpetual, 1 to 3 hours per day minimum.  You should be doing this by day 4 at the most. What, not sure what to do next? Go buy some stuff! It’s easy!  It sounds easy, and it is!  Make a plan.  The one I recommend for a six figure a year income is to every week, put out 25 pieces of marketing, to make 10 calls, 4 offers and do 2 networking events every week.  If you have signed up for the newsletter you will get tips on how to make this easier...

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Business cards that show success

Chapter 11: Step 10 in Quick Start Guide. Order your business cards   Time: 1 hour, day 3 I recommend vistaprint.com (use the paid ones, don’t let them put their name on the back of your card).  (every time you get a business card, make sure you write on it where you met the person and something personal about them & what you talked about). I have a couple cards, that address different relationships.  For example, I have a card for banks that say “Manager”, for buying properties and networking I have a card that says,...

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working with private money loans

I got a question that asks if you have a private money loan, a 15 year note for example and then pay it off early (in year 5), is there a penalty?   Yes and maybe.  [This is a quick answer that I will fill out more on in the next couple days, so be sure to come back and ask lots of questions about it]. Yes because the lender had planned to make care free income for 15 years, and now you are making them work by having to get that money back into play again (thus it’s your job to send them another investment opportunity along with...

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Create your real estate lease

Chapter 10: Step 9 Create your lease. Time: 3 Hours, Day 3 Either go buy one, or modify the free one that you got from signing up with the newsletters. Set it up with your Management Companies Address, name and details. The key sections you should have in your lease are: Forms of payment.  How tenants are to pay you. Late payments and fees.  What happens when they are late Security deposits.  What are they and how long they have to wait to get it back after they move out. Quiet enjoyment and respect to neighbors.  Let them know that they need...

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What bank accounts are important for my real estate investment company

Chapter 7: Step 6 Go to the bank Open up Business accounts. Time: 2 hours, day 2 (Note, that in some states you may have to wait a while to get the verification of your entity from the state so you may have to wait for that, if so, move on to the next steps and do this as soon as you can). Find a nice bank that gives free business accounts and has branches that are accessible to tenants and contractors in the areas that you are investing in.  Ask for free online billpay and free online account management.  In most cases both of these are...

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First steps for getting bankable is to know your report and fico

Chapter 6: Step 5 Go to myfico.com and pull your credit reports/scores. Time: 15 min, day 2 Go to myfico.com and credit report. You need to know what is on your credit report and what your real FICO score is.  After you finish the quick start guide, and set up your business plan, marketing plan and initiate business, we want to get right into improving your credit score!  Don’t waist any time on this now, just get them, look over them quickly for inaccuracies and later we will talk more about credit repair and optimization.  Action steps: Go...

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