Dude, Pull the Trigger

Let's get to work

Thanks for joining us for the next 75 days or so as we put together one monster deal after another.

How?

You'll be surprised if you think it won't be work because if there's one thing we do and do consistently, it's grind out the paperwork.

And what do we call that?

Pulling the trigger!

If there's one thing I'm hoping you'll take away from this Blog experience, it's understanding that in order to do a lot of business and make an extraordinary amount of money, you have to fire out that paperwork.

Let's see how well we do that.

A few other things . . .

We'll be doing a bunch of videos and you can bet that they'll be the core of this blog. To view them, you MUST have Quicktime 7 installed. (www.quicktime.com). If you haven't done so already, please update now to the latest version.

Note that I'm not going to do a lot of editing when it comes to videos. So, they'll play back in real time. At least for now, I think it's more important I get them up than worry about them being Oscar worthy.

And this time around we'll do two sizes of the videos so if you have limited bandwidth, it won't be such a burden to view them. The smaller versions are reduced by nearly 70% over the larger versions, and the quality is more than adequate.

Finally, my hope is that by the end of this year, not only will you have watched and learned a bunch, but my business, too, will be totally transformed in the process. We're to the point of really implementing the Drop Dead Day Playbook strategies and that means we'll be moving from a hobby to a real business over the next few months.

Hang on, and let's get to work . . .

Abril Love

Back to work, Thursday (a long plane ride and a night of not much sleep and I look like hell, I know).

Abril has a brother, Scott, who's fighting a war for us at the moment and who has a property in my area. It looks to be just a couple lots . . . nothing I'd get excited about, but there are issues (like foreclosure) involved and I don't see them getting it done.

What am I doing here? Can you see it?

Watch the Video (22.3 MB)

Watch the Video (8.2 MB)

Let me know what YOU think this is all about.

Making contact, again

Just getting a couple things put together . . .

Watch the Video (9.3 MB)

Watch the Video (3.4 MB)

AbateThis!

This is an abatement deal situation where there's a $112k bill for cleaning up some guy's downtown commercial lot. The 5 story apartment building is no longer there, in case you're wondering about the clean up.

I've sent an offer out to the folks in charge seeing if I can get the total reduced to what is about the assessed value, $50k. We figure the lot is worth substantially more than that.

So, between the back taxes and the abatement lien, we're up to over $150k owed. Dealing with the taxes will be tough and probably not doable . . . but the lien is likely to be negotiable if anyone with half a brain is involved on the other end.

Watch Video #1 (6.3 MB)

Watch Video #1 (2.6 MB)

Watch Video #2 (7.3 MB)

Watch Video #2 (2.4 MB)

Here's my letter . . .

======================================

Building and Code Violations

Dear Mr. X,

Please be advised that we’ve reached a tentative agreement to purchase the XXX property referenced above.

Accordingly, I’m inquiring as to the nature of the abatement lien(s), the amount(s), and what, if anything, can be done to resolve them.

The figure we received today from the Treasurer’s office is $112,000. Frankly, that’s a number that represents show stopper (the property is assessed at only $53,950).

There’s opportunity for us to proceed here and close on the purchase of this property, but that can only happen if we can reduce the lien amount by a substantial margin. As such, I’m inclined to propose a cash payment of $25,000.00 to satisfy the lien.

Please advise at your earliest convenience. Thank you.

Sincerely,

XXX

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Let's wait and see what, if any, there response is. I'm guessing it's been a HUGE problem for them and getting beyond it would be no small victory.

Well, smell me . . .

This sucker smells like a deal . . . and let us count the ways.

I've posted the video and will hold off describing what's apparent to me. Your job? Make a list and add your comments to see if you're seeing what I'm seeing.

And what am I seeing?

A ton!

Watch the Video (11 MB)

Watch the Video (4 MB)

Just stuff . . .

Going through some of the things we do, playing catch up just a bit.

Watch the Video (16.4 MB).mp4

Watch the Video (5.9 MB)

Luke, you are a baaaaad man . . .

Here's Luke buying 40 acre parcels for back taxes and $100.00. I'd have given the gal more must because, but no, not Luke. He's like proud of himself.

40 acres?

$100.00?

Yep . . . www.landauction.com would be so proud.

Watch Video #1 (6.6 MB)

Watch Video #1 (2.4 MB)

Watch Video #2 (2.4 MB)

Watch Video #2 (0.9 MB)

Watch Video #3 (4.2MB)

Watch Video #3 (1.5 MB)

Watch Video #4 (5.3 MB)

Watch Video #4 (1.9 MB)

Bent Envelope and the Mobile Notary

Okay, first mobile notary deal comes back all signed off. My buddy Steve scores another deal, 2.5 acres in eastern Washington. No sure what it's worth, but likely worth more than the $100.00 we paid for it.

It's free and clear with some back taxes owing . . . and I've got an agent on it already to let me know what we can do with it.

My plan?

Get it listed and sold for something more than $100.00 (assessed at $15k).

Watch the Video (2.7 MB)

Watch the Video (1 MB)

So, I made a call . . .

Still sorting out the www.landauction.com thing and made a call from one of the letters we'd received awhile ago.

First time it just rang and rang and clicked off.

Second time I got a call center and a gal just took some info, saying they'll get back to me as soon as they can . . . but it won't be for at least a week because they are swamped.

Swamped is good.

You can hear her . . . see if you can catch their script.

Connecting the dots . . .

Watch the Video (7.8 MB)

Watch the Video (2.4 MB)

Agent of the day

Working with an agent . . .

Watch the Video (6.2 MB)

Watch the Video (2.2 MB)

Just more stuff . . .

A little something something with a lesson at the end worth mentioning. Pay attention to the witness thing, an important bulletproofing consideration.

Watch the Video (13.6 MB)

Watch the Video (5 MB)

Notarize This!

Okay, had some mobile notary issues that nearly killed a deal. All is well, now, but needless turmoil resulted from the notary's ignorance. Which all leads me to believe that we have to sort this mobile notary thing out, and NOW.

So, who's game?

Looking for suggestions and feedback and I'll volunteer to create the final "play" we can all ultimately put into practice.

Here's what's needed . . .

A one page instruction sheet for the notary, spelling out precisely what has to happen and how to handle things that don't go according to plan (plan being, they just get it all signed up on the spot).

Like, what if they want to actually read the docs?

What if they have questions?

In my case, when issues came up, the notary just took the docs and went back home, a 55 mile round trip (property is out in the boonies). Not good.

The notary needs to know, going in, that I'm buying an hour of her time, and that if he wants to sit there and read everything, he can. The notary needs to have a cell phone, so if there are issues, the seller can call and talk about them while the notary is still there.

What else can a notary do?

I'm thinking pictures or an interview or whatever . . . but there's got to be some thinking on it here to really sort it all out.

And the seller needs to be instructed, too, prior to the notary's arrival, as to what is going to happen and what is expected of him.

So, if you care to chime in with your thoughts, do so now so we can create a very tidy little drop dead day play that's nothing short of spectactular.

Joe

No Voice Mail

Just Luke and I bemoaning the fact that there are so many people without voice mail or answering machines . . .

Watch the Video (3.4 MB)

Watch the Video (1.2 MB)

Success, defined . . . ala Luke

Luke in action.

Watch Video #1 (2.8 MB)

Watch Video #1 (7.7 MB)

Only a month at the phone, and it shows. He's got a lot to learn but give him credit . . . he's stepping up and making the calls.

Yep, pretty much all day long (a good thing).

So, how many people did you talk to today about selling you their property? Between you an me, I'm betting Luke's got you beat.

I've decided to step in and help here with some advice about how I'd have handled it, and how it would have gone a little differently.

Watch Video #2 (6.4 MB)

Watch Video #2 (18.1 MB)

All in all, she said "yes" and he's got an appointment to get a deed signed off for next to nothing.

What's the lesson to be learned?

"Success is 90% just showing up."

And in case we're keeping score, Luke's got two deeds in the last two days.

The Club Royal

Thought I'd take it on, the Club Royal.

According to the notice on the door, the Fire Marshall shut it down a year and a half ago. It was some undefined eatery and from the looks of things, some sort of card room.

So, will do some checking around and figure out what's what and who's who.

How?

We blueprint it, looking for a way in. Blueprinting, as we talked about in the chatroom last night, is all about finding a way to get our foot in the door (and no, it has nothing to do with "due diligence.")

Here are a couple pics . . .

Now, if I can just figure out what to do with it. Got any suggestions?

The "Perfect Rental?"

Yeah, right.

Yeah, my partner Walt suggests this is the perfect rental property, as though such a thing exists.

How'd we get it?

We settled a long standing probate issue last week and today deposted a $190k check (we keep half), plus we got this house, free and clear, worth $135k or thereabouts. Still are owed $100k which is scheduled to be paid to us next week (we keep half).

The situation?

A probate with warring siblings.

Our role?

Gun for hire.

Our guy would likely have not gotten a cent out of his dad's estate since big brother is one smooth operator. We stepped in and made sure it didn't all slip away, collecting $150k cash + half interest in this house for our efforts.

A perfect rental?

Riiiiiiiiiiiiiiight . . .

Watch the Video (1 MB)

Watch the Video (0.4 MB)

Download to Video iPod (2.3 MB)

Cold Call Training

Lately, so many people have asked me about what I say on the telephone to people I'm contacting for the very first time.

It's a four component process . . .

The Heads Up - "I'm calling to give you a heads up . . ."

The Confirmation - ". . . and checking to see that you've got the thing handled."

The Proposal - "Would it help if . . ."

The Back-Up Plan - "Great! Have you got a back-up plan just in case?"

If you can simply get those 4 pieces in place . . . you've got things covered for 90% of the callers you'll be talking to.

Here's the video of a 12 minute training session we did recently . . .

Watch the Video (26.7 MB)

Watch the Video (9.6 MB)

Download to Video iPod (60.5 MB)

Be sure to let me know if this helps.

Joe

Blueprint arrives

Annie comes through again (and fast) with a good blueprint of the property I'm interested in checking out, the Club Royal. Now closed down (fire marshall evacuated the building months ago and post a notice to that effect), it used to be some sort of entertainment buffet, among other things.

Worth checking out?

Absolutely.

Worth buying?

No idea, and the point of the blueprint is to figure out what's really here and who's got interests in it that will allow us to get involved.

Here's the blueprint . . .

Download club_royal_blueprint.pdf

So, tell me what you see here that catches your eye.

Joe