REI Talk Show with Zack Childress

How to Present Multiple Offers   Get Zack’s Best Selling Book Here: MyFirstDealPlayBook.com Make Sure You Follow Zack so you don’t miss out on his The Real Esate Talk Show and other awesome tips and trainings. 1. Follow: http://www.reisuccessacademy.com/instagram 2. Subscribe on Youtube: http://www.reisuccessacademy.com/youtube Make Sure to Click on the Bell After your Subscribe (It’s right next to the Subscribe Button) 3. LIKE Zack’s page: Zack Childress - REI Success Academy Make Sure to Click on Follow then select SEE FIRST After you LIKE the page (It’s right next to the LIKE Button) 4. Get Reminders when New Shows and Trainings Go Live: http://www.reisuccessacademy.com/LiveShows You do NOT Want to Miss this Show! Let’s Start this week off right and let me help you to start #GettingYourLifeRight by being Actively Present with me for this. This is all for YOUR Business, Are you going to #OwnYourOwnLife and get the help on challenges you may be facing? Get Your FREE Copy of My New Book yet? Get Your Free Copy Here: http://myfirstdealplaybook.com/ #digdeeper #5flifestyle #the5flifestyle #zackchildress #reisuccessacademy #realestate #gettinyourliferight #thechoiceisyours

4 Keys to finding the After Repaired Value in order to stay safea as an investor. Get Zack’s Best Selling Book Here: MyFirstDealPlayBook.com Make Sure You Follow Zack so you don’t miss out on his The Real Esate Talk Show and other awesome tips and trainings. 1. Follow: http://www.reisuccessacademy.com/instagram 2. Subscribe on Youtube: http://www.reisuccessacademy.com/youtube Make Sure to Click on the Bell After your Subscribe (It’s right next to the Subscribe Button) 3. LIKE Zack’s page: Zack Childress - REI Success Academy Make Sure to Click on Follow then select SEE FIRST After you LIKE the page (It’s right next to the LIKE Button) 4. Get Reminders when New Shows and Trainings Go Live: http://www.reisuccessacademy.com/LiveShows 5. Subscribe to my PODCAST to Listen in Your Car or While Exercising: http://www.reisuccessacademy.com/podcast You do NOT Want to Miss this Show! Let’s Start this week off right and let me help you to start #GettingYourLifeRight by being Actively Present with me for this. This is all for YOUR Business, Are you going to #OwnYourOwnLife and get the help on challenges you may be facing? Get Your FREE Copy of My New Book yet? Get Your Free Copy Here: http://myfirstdealplaybook.com/ #digdeeper #5flifestyle #the5flifestyle #zackchildress #reisuccessacademy #realestate #gettinyourliferight #thechoiceisyours

4 ways to Invest your money in Real Estate to gain significant returns and not just be a "One Trick Pony" View our Website at reisuccessacademy.com Get Zack’s Best Selling Book Here: MyFirstDealPlayBook.com Make Sure You Follow Zack so you don’t miss out on his The Real Esate Talk Show and other awesome tips and trainings. 1. Follow: http://www.reisuccessacademy.com/instagram 2. Subscribe on Youtube: http://www.reisuccessacademy.com/youtube Make Sure to Click on the Bell After your Subscribe (It’s right next to the Subscribe Button) 3. LIKE Zack’s page: Zack Childress - REI Success Academy Make Sure to Click on Follow then select SEE FIRST After you LIKE the page (It’s right next to the LIKE Button) 4. Get Reminders when New Shows and Trainings Go Live: http://www.reisuccessacademy.com/LiveShows 5. Subscribe to my PODCAST to Listen in Your Car or While Exercising: http://www.reisuccessacademy.com/podcast You do NOT Want to Miss this Show! Let’s Start this week off right and let me help you to start #GettingYourLifeRight by being Actively Present with me for this. This is all for YOUR Business, Are you going to #OwnYourOwnLife and get the help on challenges you may be facing? Get Your FREE Copy of My New Book yet? Get Your Free Copy Here: http://myfirstdealplaybook.com/ #digdeeper #5flifestyle #the5flifestyle #zackchildress #reisuccessacademy #realestate #gettinyourliferight #thechoiceisyours

The question that Zack Childress poses on every podcast is how do real estate investors build real wealth and freedom without access to millions of dollars in capital? His mission is to help you find the answer.    It’s an excellent time to be involved in real estate. Create, stabilize and maintain your business. Those 3 steps lead to the 4th, which is to protect your business. Get started on these steps NOW. Moving to today’s topic… if you’re a buyer, you are likely going to be buying from wholesalers. Zack wants you to know that a lot of wholesalers are new in the business and not totally sure about it. If you’re buying from a wholesaler, step 1 is buying the contract, not buying the house. Owning the contract gives you the option to buy the house. If the wholesaler doesn’t want to show you the contract, that’s a problem. You absolutely must see it. The contract tells you whether the house is free and clear. It tells you who’s paying what costs. The contract is the product you’re purchasing. It is your right to examine the product to be sure it’s what has been represented to you and that it’s a product you actually want to own.   If you’re a wholesaler, please get educated. You could lose your assignment fee if you aren’t clear on your role. The buyer is getting only the contract in step 1, and you can’t expect him to buy it sight unseen. Get the specialized knowledge that you need to succeed. Then learn how to execute that knowledge. Build your systems. Build your plan and execute it. “Knowledge is not power. Implementation of that knowledge is the power.”

Today’s episode is about the difference between doers and lookers… between action and overthinking. Successful business owners DO. It’s the only way to create income. You can train and train, but until you implement you haven’t accomplished a thing. Overcome your doubts, build relationships, develop plans for success, and then DO.

The question that Zack Childress poses on every podcast is how do real estate investors build real wealth and freedom without access to millions of dollars in capital? His mission is to help you find the answer. Zack breaks down this episode into the 2 types of lenders you need to talk to: traditional (banks) and asset-based (hard money) lenders. When you call a local bank, be prepared to talk the bank’s language. Just ask for what you need, then clarify what you hear. Every bank has different loan programs, so call several. Once you get a positive answer about financing, make an appointment to meet the banker. You’ll both benefit by establishing rapport early. When you contact asset-based lenders, be quick and concise. Don’t ask them if they lend on certain types of deals. That’s what they do all day long. Start by telling them the type of properties/deals you are looking to fund and that you want to establish that funding is available before you find a deal. Ask if it’s possible to set up an account now. Hard money comes with a pretty high interest rate, definitely more than banks. So what you do is buy and repair with the hard money, then go to the local bank to refinance the ongoing mortgage. Buy, renovate, rent, refinance, repeat… the ‘brrrr’ method. It’s what experienced investors do. Watch or listen to this episode more than once. And share it with other investors. And please, pick up the phone and act on it because “courage is created by facing your fears on a daily basis.” Practice calling lenders and overcome that fear.

The question that Zack Childress poses on every podcast is how do real estate investors build real wealth and freedom without access to millions of dollars in capital? His mission is to help you find the answer. Today’s episode is part 2 of 2 about working with a real estate agent. Zack has local agent, Tim Knox, on the show, so we can get the info from the agent’s side.  Tim’s company, Revolved Realty, is a flat-fee listing company in Madison, Alabama. Revolved has 2 offices and 19 agents that deal with buyers, sellers, investors and builders. All agents are not the same. As discussed in part 1, many agents know only retail buying and selling. Investors have different needs. Investors should ask agents about their experience level, consider personal compatibility and generally treat the first meeting like a job interview. Often the most suitable agent is also an investor. Zack asks Tim an important question, “What bothers you the most about investors?” Turns out that it’s lack of preparedness, wanting Tim to teach them how to invest.  Zack adds to that. He warns investors not to have several agents doing the same thing and not to look at agents in any way other than as a partner/colleague. The goals should be the same for both parties. Don’t go to an agent too soon. If you’re not prepared to buy, don’t have an agent out looking for deals. You’re wasting their time and losing credibility. Tim’s company is a flat-fee brokerage, which simply means the fee is lower than most. That’s particularly important for volume users like investors.  “Never forget how you reach success and always stay humble.”    

The question that Zack Childress poses on every podcast is how do real estate investors build real wealth and freedom without access to millions of dollars in capital? His mission is to help you find the answer.   Today’s topic is working with real estate agents. If you cultivate a good relationship with one or two agents, it can really give your business a boost. There are different types of real estate agents, and some specialize in working with investors. You can meet them at REIA meetings or through referrals from closing attorneys, title companies and such. Agents work on commission. When you talk to them, be sure they hear how beneficial it can be for them to help you find properties. Agents can find properties quickly, so be ready. Don’t waste their time finding a property that you aren’t prepared to close on. And don’t depend on agent to do more than find properties. Vet your own deals. Do not be afraid of using agents. Yes, there are costs, but an agent can help you grow your property portfolio as well as anything can.  “Opportunities are lost because you aren’t awake enough to see them.”    

Zack talks about the importance of networking, and challenges us to get out of our comfort zones. He defines fear and explains how it works in our lives. The podcast has good ideas of places to network and people to network with. Zack believes it becomes a way of life if you will only go out and do it, i.e., practice.

The question that Zack Childress poses on every podcast is how do real estate investors build real wealth and freedom without access to millions of dollars in capital? His mission is to help you find the answer.   We’ve been talking about markets a lot lately. But it doesn’t matter what the market’s doing or what investment strategy you’re using if you don’t first build a strong team around you. If you find a hot property, you want to move on it quickly. That requires a vetted team of people with various skills. You will need to work with real estate attorneys or title companies to help you with closings. You’ll need a property management company that you trust. You’ll need a contractor (or a few) and a handyman or two.  “Your success is equal to your ability to invest in yourself.” Think of building your team as an investment. These people are going to work beside you. They will benefit from your success and you will benefit from theirs.

The question that Zack Childress poses on every podcast is how do real estate investors build real wealth and freedom without access to millions of dollars in capital? His mission is to help you find the answer. If you are failing at something, sometimes you need to quit that thing. We all need to go through a serious, thorough self-examination from time to time. Quitting certain things in your life is required to be successful. Quitting does not make you a failure, even though our society often makes you feel that way. Sometimes I advise my coaching clients to quit real estate. And, sometimes clients come to tell me they’re quitting and why. Real estate investing can, and probably will, take over your life. Maybe that doesn’t fit your vision for yourself. “Life brings challenges. Sometimes quitting is appropriate. Own it.”

The question that Zack Childress poses on every podcast is how do real estate investors build real wealth and freedom without access to millions of dollars in capital? His mission is to help you find the answer. Today we’re talking about success in wholesaling real estate. You need to be in areas that are open to cash buyers, and it helps to know rental vs. owner occupancy. Be ‘all purpose’ to buyers and sellers when you’re wholesaling. Have resources they can use such as a contractor, a title company, etc. Have a list of buyers/investors in the area, and market to them. Work your business by communicating. Go to REIAs, use signs and classified ads. Wholesaling leads can be cheap; they can even be free. Don’t spend a lot of money on marketing early on. Go out and talk to people, make mistakes, and learn from those mistakes. That’s how you build your business. Communicate, communicate, communicate… then do it some more. “Change is good.”

The question that Zack Childress poses in every podcast is how do real estate investors build real wealth and freedom without access to millions of dollars in capital? His mission is to help you find the answer.   Today we’re talking about 3 things you need to do and know before looking at a property. These are fairly obvious, but you can’t review the basics too often. You need to study markets before investing in them. You must know the hot zones of a market and make a plan to segment the area… this should be a fundamental business practice. Look at properties only after you have your business team in place. If wholesaling, you need a list of buyers and an idea of what they typically buy. If rehabbing, you need a contractor to work with. And you certainly don’t want to find the right property before you’ve got funds lined up to purchase it. That wastes your time and that of the owner or agent that shows you the property. Please leave a podcast review. And, share my podcasts with other investors you know. Help get the word out about real estate investment education. “Be a stalker for success, not a talker.”

The question that Zack Childress poses in every podcast is how do real estate investors build real wealth and freedom without access to millions of dollars in capital? His mission is to help you find the answer.   Today we’re going to talk about co-wholesaling. Zack has broken it down into 8 steps, and that’s what he’s sharing with you. Zack started out wholesaling properties, but he had a hard time getting started because the market was flooded with wholesalers. This was Zack’s barrier of entry. He had to create success in this fierce market. Co-wholesaling was the only way he could get a toehold in real estate investing. He had to figure out what would work for him that didn’t require a big marketing budget. He hit upon following up on leads that other wholesalers didn’t want and splitting any profits he made with them. “Be willing to learn new things and try new things. It can change your game like I did.”

The question that Zack Childress poses in every podcast is how do real estate investors build real wealth and freedom without access to millions of dollars in capital? His mission is to help you find the answer. Today we’re talking about the 3 stages of rehabbing. Stage 1 is your primary responsibility. During stage 1, you stay busy finding deals, finding funding and building a team. It’s your full-time job. You already know you need lots of leads/deals. You also need lots of types of funding, including a local bank. One size does not fit all deals. And you need LOTS of people on your team, such as your funders, realtors, title companies, closing attorneys, contractors, etc. Notice ‘contractors’ is plural in the line above. You might have more than one active rehab at a time, which is why you need more than one contractor. A trusted, skillful contractor is your most important colleague. If you try to be your own contractor, you lose time you should be spending looking for and building the next deal. Your real estate agent handles stage 3once the rehab is complete. The agent lists the property, stages it, sells it and handles the closing. Do not think that you can save money by handling stages 2 and 3 yourself. That’s a lie that will stall the growth of your business. You cannot do the rehab or the sale as well as the professionals on your team. Instead of saving money, you’d be frozen in time with just one deal and its plentiful details. You’ve decided to be an entrepreneur and, to be successful, you must stick to that. Find the next deal, add to and manage your team, identify additional funding sources. Build your business!!  

The question that Zack Childress poses in every podcast is how do real estate investors build real wealth and freedom without access to millions of dollars in capital? His mission is to help you find the answer.   You are doing direct mail wrong. I’m sure of it. It’s a paid lead source. And since you’re paying for it, be sure you’re doing it right. Within the advertising world, direct mail has the lowest response rate of any advertising method. It’s the nature of the beast. That’s why you need to focus on the list… only mail to certain ZIP codes, only mail to properties that have built up at least 50% in equity. Mailing multiple times gives you multiple opportunities to follow up. You should link letter 1 to letter 2, and link letter 2 to letter 3. It makes a difference. Layer the pain of the potential seller. Get a list of out-of-state owners (1stpain layer) who are also about to go into foreclosure (2ndpain layer). The deeper the pain is for that owner, the more likely he is to sell.

The question that Zack Childress poses in every podcast is how do real estate investors build real wealth and freedom without access to millions of dollars in capital? His mission is to help you find the answer. Creative financing brings great opportunity. There’s lease option or sandwich lease option, there‘s subject to. Both involve taking over payments from current owner. With a subject to, I take over the property and take over the payments, but the financing agreement with lender remains in the current owner’s name. The contract states that I pay the owner the payoff amount of loan after ‘X’ number of years. During those years, I have a renter in the home that’s paying more than the mortgage amount while the final amount due (my final price) continues to go down. I get cash flow anda low price. Lease option and subject to deals have different contractual requirements. A good real estate attorney is going to know this, but it’s important for you to understand the options so you know the deal’s executed properly. Wrap mortgage is another approach. It allows you to sell the property with seller financing instead of being a landlord. You charge the buyer a higher interest rate than the property’s existing rate and amortize the loan. Zack gives a clear explanation of the wrap option. A wrap is a good long-term money maker, so open your mind to this important tool.  

The question that Zack Childress poses in every podcast is how do real estate investors build real wealth and freedom without access to millions of dollars in capital? His mission is to help you find the answer. Today we’re going to talk about the different types of buyers that you will encounter when working in real estate. The 1sttype is the first-time buyer. They’re good candidates for fix and flips because they’re usually looking for a low price. They’ve got a down payment, and generally use standard bank mortgages. Occasionally they need seller financing, which gives you a higher return. Listen to learn about other types of buyers, including financed investor buyers, cash buyers and tenant buyers. Zack breaks the larger categories into smaller units for an enlightening level of detail. “You can’t expect your results in life to change if you continue doing the same thing.”

The question that Zack Childress poses in every podcast is how do real estate investors build real wealth and freedom without access to millions of dollars in capital? His mission is to help you find the answer. Today we’re going to talk about the different types of buyers that you will encounter when working in real estate. The 1sttype is the first-time buyer. They’re good candidates for fix and flips because they’re usually looking for a low price. They’ve got a down payment, and generally use standard bank mortgages. Occasionally they need seller financing, which gives you a higher return. Listen to learn about other types of buyers, including financed investor buyers, cash buyers and tenant buyers. Zack breaks the larger categories into smaller units for an enlightening level of detail. “You can’t expect your results in life to change if you continue doing the same thing.”  

Today’s topic is tough to hear if it applies to you. If you’ve established a real estate business, then started and stopped and started and stopped, you need to toughen up. You need to stay in the fight whether it’s easy or not. Don’t stop when a deal falls through; look for another buyer or seller. “You will never grow until you work your way through the hard times.” Embrace the hard times and grow. When you work through a challenge, you’ll know how to tackle or avoid it the next time it appears. What about your team? Do they have the courage to stick with the business? Be sure they do. “In your journey, you cannot miss every rock.” Just don’t be afraid of hitting the rock. Repair your boat and move around it. Watch out for distractions. Be proactive and block out time for the business.

The question that Zack Childress poses in every podcast is how do real estate investors build real wealth and freedom without access to millions of dollars in capital? His mission is to help you find the answer. Sometimes people ask me how I do so many deals. How do you have the time? The main reason I can do it is that I partner with other investors and split profits. Sometimes people have a great property they haven’t been able to sell. Tell them you’ll take care of the sale and split the profits. Maybe you can find a partner who has money and wants someone to manage rehabs. Or you could find a partner who loves the rehab process, but doesn’t enjoy selling the end product. “Opportunities are lost because you aren’t awake enough to see them.” Don’t miss opportunities. Everyone you meet is a potential partner, and partners multiply the number of deals (aka payouts) you can complete.

The question that Zack Childress poses in every podcast is how do real estate investors build real wealth and freedom without access to millions of dollars in capital? His mission is to help you find the answer. Today’s show gives you 4 tips that successful real estate investors use to grow their businesses. Step 1:Find motivated sellers. Yes, there are different kinds of sellers, different ways of reaching them, etc. You can break step 1 down into categories if you want, but it all ends up under the heading of motivated sellers. The other steps are just as basic. You need money and buyers. You need to use the telephone and automation. This is critical to your business. It’s not hard to envision and not hard to implement. Remember that. Don’t make it harder than it is. “When you’re comfortable, you’re complacent.” Entrepreneurs cannot afford comfort or complacency. You are working for your freedom… the freedom to do (or not do) anything.

Today’s show covers tips that will ease your move down the path to success. First, get Zack’s book, My First Deal Playbook. You know you’ve got to find leads. And, hopefully, you are finding leads that 20 other people aren’t competing for. That’s the fastest way to get a deal. Zach uses these tips, and he’s got 9 rehab projects going right now. Zack will teach you how to find non-competitive leads, and even give you scripts to use when you contact them. Cultivate relationships with property management companies. They know landlords who no longer want to be and can’t wait to sell. Network repeatedly with wholesalers in your area. They want to sell, you want to buy. Right? “Changing your thoughts will change your life.” So shift your thinking to reflect that you need deals, not just leads.

The question that Zack Childress poses in every podcast is—how do real estate investors build real wealth and freedom without access to millions of dollars in capital? His mission is to help you find the answer. We’re drilling down into topics related to flipping properties. Today we’ll talk about how to hire a contractor that does good work AND that works well with you and your vision. Right now the market is in a sweet spot for fixing and flipping real estate. You need to face your fears and do it. Gaining knowledge is an excellent way to overcome fear. Zack provides 6 questions to ask a contractor’s references. Ask the same questions of each reference for comparison‘s sake. Change orders probably will be needed once a project gets started. Be sure that your contract specifies that you must sign off on every one before work begins on it. “Don’t let yesterday take up too much of today.”

The question that Zack Childress poses in every podcast is how do real estate investors build real wealth and freedom without access to millions of dollars in capital? His mission is to help you find the answer. We’re talking about flipping properties today. There’s money in fix and flips, and it can be made in up or down markets. Hire a contractor to fix up the houses. Your job is to manage the contractor and make money. Mistake 1: Flippers aren’t good at determining After Repair Value (ARV). Being wrong takes money off the house’s sales price right out of the gate. Mistakes 2 and 3: Listen to Zack and find out. Knowing how to make money with flipping is valuable stuff. There are many facets to it… many ways to make good and many ways to screw up. Build up cash reserves by wholesaling in a good market, so you’ll be ready to buy fixer-uppers when the market takes a turn. “Follow the direction of a successful investor. That’s how things get changed.”

The question the 24-Week Challenge poses is how do real estate investors build real wealth and freedom without access to millions of dollars in capital? Zack Childress is taking us through 24 podcasts to get to the answer. Well, this is it… this is episode 24… the end of the 24-Week Challenge. You’ll be learning about wholesaling lease options. Wholesaling lease options works whether the real estate market is down or up. It’s perfect for right now because the market is teetering on a change from the highs of the last few years. And real estate investors have got to know how to operate in any market. You’ve got to know which strategies to use for the market that exists, period. When wholesaling lease options, you take over the payments of the current owner who has some equity in the property. Then you find someone who wants to live in the property right away and buy it in the future. The two of you come to an agreement over monthly payments, and you place an option with this individual to buy the property outright at a set price after a set number of years. “Find something good and get in the middle of it.” That pretty much sums up what you’re doing when wholesaling lease options.

The question the 24-Week Challenge poses is how do real estate investors build real wealth and freedom without access to millions of dollars in capital? Zack Childress is taking us through 24 podcasts to get to the answer. We’re at the next-to-last week, episode 23, and you’ll be learning about a different strategy for wholesaling real estate. It’s called co-wholesaling. Co-wholesaling is good for new investors who are low on ready cash or low on time. Plus, it puts you in touch with other investors that you can learn from and prosper with. The term means exactly what you would think. One investor does one side of a wholesale deal and another investor does the other. You find sellers, and go to other wholesalers to find buyers… or vice versa. Even if you’re enjoying tons of success, you need co-wholesaling in your toolbox. It allows you to find buyers for contracts you haven’t generated interest for among your own contacts. You can also facilitate deals by finding an investor who has a seller and one who has a buyer, then introducing them to one another. Of course, you also need to negotiate the payment for your contribution to the deal. Experts (including Zack) say, “Pressure is needed to create innovation.” You get a contract you can’t seem to sell and see if you feel motivated to try co-wholesaling.

The question the 24-Week Challenge poses is how do real estate investors build real wealth and freedom without access to millions of dollars in capital? Zack Childress is taking us through the steps to get to the answer. We’re almost at the end of the challenge. This is week 22, and you’ll be learning about analyzing real estate deals. We want you to make deals that make you money, and financial analysis is the tool for that. The main thing you want to know about every deal is the cash on cash return (COCR)… what yourmoney is earning for you. ARV, LTV, NOI, etc. We’re going to swim through the alphabet soup on this podcast. You must remember that real estate is a commodity and commodity values change constantly based on supply and demand. You can start a deal under an assumption that can change before you resell the property. That’s just a warning that you have to stay on top of every detail. Every deal you make should be improving your credit. If you need to have a job to get your credit stable, then get a job. If you don’t have good credit, you won’t be able to take advantage of leverage. And leverage is everything. It allows you to use other’s people money and maximize you cash on cash return. Listen to Zack do the math. Listen twice to be sure you get it all. “You can’t wish yourself rich. You’ve got to get up off the couch and you got to make it happen.” Zack will teach you how.

The question the 24-Week Challenge poses is how do real estate investors build real wealth and freedom without access to millions of dollars in capital? Zack Childress is taking us through the steps to get to the answer. We’re nearing the end of the challenge… we’ve gotten up to week 21. In this podcast, we’re going to learn about using voice blast to assist in contacting prospects multiple times and multiple ways. You can use direct mail, email, phone, text and voice blast to reach prospects. It’s important to use several communication methods because you don’t know which message the prospect will see or hear, or which one will elicit a response. Voice blasting is like having your own call center without hiring call center employees. You can reach hundreds of buyers or sellers with a short message and a call back number. You can also use voice blast for follow-up messages. Again, you want to make contact with the prospect multiple times. Create a sense of urgency with your messages to buyers. “Be the person that seeks the attention in this market space; be the one with the loudest voice.”  

The question the 24-Week Challenge poses is how do real estate investors build real wealth and freedom without access to millions of dollars in capital? Zack Childress is taking us through the steps that will get us to the answer. We’re getting near the end of the challenge. If you study and follow Zack’s tips, you can build your own real estate investing business. This is week 20, and you’ll be learning about The Power of Social Media. As you know, there are lots of social media channels these days. You don’t have to use all of them; just use enough of them often enough to make an impact. It helps you brand your business. A Facebook page for your business can serve almost like a website. It’s not a substitute for a website, but it’s important and it’s easy to do. And join other real estate Facebook pages to show the depth of your involvement in the industry. Create a YouTube channel if you have video to share. Branding helps build trust from potential sellers. Again, join with other You Tube users that are in the real estate space to expand your brand’s reach. Explain what you do every chance you get, both verbally and electronically. That’s the most important thing you can do. “The only person in control of your destiny is you.” Use the tools available to reach it.

The question the 24-Week Challenge poses is how do real estate investors build real wealth and freedom without access to millions of dollars in capital? Zack Childress is taking us through the steps that will get us to the answer. This is week 19, so the end of the challenge is near. By studying and following Zack’s tips, you can build your own real estate investing business. This week you’ll be learning about Setting Up Business System Structures. Business entity structure can protect you from exposure to lawsuits. Entity type has significant tax implications as well. You need to have legal and/or tax advisors help you set up the structure properly. “Making money is not the hard part. Once you get your mindset changed, you’ll realize there’s plenty of money out there. You just have to redirect it into your pockets.” Keeping money once you have it is the hard part. Everybody wants it. And the IRS has the right to take it in many ways. You can incorporate as ‘S’ or ‘C’ corp, use an LLP or an LLC. You may need to establish one entity for one type of deal and another entity for your other deals. The entity needs to be separate from you so you, personally, cannot be sued. An LLP is a Limited Liability Partnership. Each partner is only liable for what he/she invests in the business.  An LLC is a Limited Liability Corporation. This establishes a wall between you and plaintiffs or the IRS IF operated properly. If it is not operated properly and carefully, that wall will crumble. “As a real estate investor, it’s not about if you will get sued. It’s about when you will get sued and by whom.” The person most likely to sue you is a tenant. They think it’s easy money, and so does their low-cost lawyer. If you have the right entities in place, you’re protected.

The question the 24-Week Challenge poses is how do real estate investors build real wealth and freedom without access to millions of dollars in capital? Zack Childress is taking us through the steps that will get us to the answer. It’s not difficult, but it does require work and study from you to build your own investing business. This is week 18 of the challenge, and you’ll be learning about Setting Up Your Mass Offer System. A mass offer system gives you deal flow from multiple deal streams… wholesalers and MLS, for instance. Plus, making offers gets you engaged with a seller. A seller may not accept your initial offer, but if he counters with a higher price, at least you’re talking. And you’ve spent minimal marketing money to get that engagement. And what do you do after you make a mass offer and get 4 or 5 deals? You follow up on the offers that didn’t turn into a deal. You’ve already made contact, so follow up with these sellers to get additional deals. Many new investors are afraid to make offers. But, remember, an offer/contract is only binding on you if all contingencies are fulfilled. Zack recommends using a letter of intent. You can re-listen to the week 5 podcast to refresh your understanding of how to work with letters of intent and contracts. “We are not in the hope business. We’re in the do business.” So, take action by making offers to sellers whose properties have been on the market for 90 to 180 days. They are likely to be more than ready to sell.  

The question the 24- Week Challenge is tackling is how do real estate investors build real wealth and freedom without access to millions of dollars in capital? Zack Childress is helping us find the answer. He’s taking us through 24 steps to arrive at the answer. This is week 17 of the challenge, which covers Working With A Virtual Assistant. When you need assistance and don’t have a lot of money, what do you do? What you cannot do is hire an office full of people. VAs can find deals, call homeowners, prescreen, do CRM tasks, post blogs, set appointments, send thank you notes, etc. When you’re looking for a VA, request someone with real estate and data entry experience. Assign tasks slowly, then increase them as you learn the individual’s skills. Hourly pay for VAs is generally from $3 to $6, but can be more if you go through a staffing company. Specific, step-by step training is needed even if the VA has real estate experience. There is no way to keep your VA from working with another real estate investor in your market. Just be smart. Ask questions to be certain the same leads aren’t going to numerous people in one area. Remember, working hard isn’t bad, as long as you are working onyour business and not init. A VA can help ensure that this principle applies to you.

Here’s the question the 24- Week Challenge is answering: How do real estate investors build real wealth and freedom without access to millions of dollars in capital? Zack Childress is helping us find the answer. He’s taking us through the steps, 24 of them, to arrive at the answer. Welcome to week 16 of the challenge, which covers Finding Property Locators. A property locator is someone whose job is to find properties for you. You need LOTS of locators… simply tell everyone you meet that you’re an investor looking for deals. Zack has had good luck using college kids to work a few hours a week to find properties. Property locators bring you off-market deals. They’re finding them by driving around. Or they hear about someone’s grandmother trying to quickly sell a house. They are not checking the MLS for you. The money you pay locators for a lead that you close on is a marketing fee. You are buying a lead just like you’d buy a lead from a list service. You can also pay locators a per-lead fee. You hire these people as independent contractors, and set up a service provider agreement with them for payment. You can keep up with the properties they find for you with Google Docs or Excel. “Take actions today that you can look back at and say “thank you” to yourself for.” Deputize people to help you locate property/deals, and you really willthank yourself.

Here’s the question we want to answer: How do real estate investors build real wealth and freedom without access to millions of dollars in capital? Zack Childress is helping us find the answer with his 24-week challenge. He’s taking us through the steps, 24 of them, to arrive at the answer. These steps are the ones you need to take to get your first deal and start your real estate investment business. We’re on week 15 of the challenge, which covers the topic of Finding Private Money. If you’ve been doing everything you’ve learned in the last 15 weeks plus a little studying on the side, you should already be putting together deals. But, of course, you’ll need to find money to ignite the deal-making. If you can borrow from a bank, it’s the least expensive way to go. If you can’t qualify or don’t want to use a bank, private lending is your best option even though the interest is twice what the bank charges. Hard money lenders and asset-based lenders are the same thing. Your deal has to meet certain parameters for them, but your credit score doesn’t matter at all. They only evaluate the deal. Zack talks some about the state of the market. His advice is, “Live in the market now, but prepare for the market that’s coming.”

Here’s the question we’re working on resolving during the 24-week challenge. How do real estate investors build real wealth and freedom without access to millions of dollars in capital? We’re on week 14 of the challenge: Closing Deals. Zack Childress is guiding us through the steps to get to the answer in 24 weeks. Zach’s been an investor for 16 years. We’ll learn today what we need to do after we’ve made an offer and found a buyer. Yes, you have created a deal, but you don’t get paid until closing is complete. So you can’t relax yet. You need a team of professionals [a Power Team] that will work with you to close based on the strategy you’re using. For instance, not all title companies accept assignments of contracts involved in wholesale deals. It’s you job to know who will. Who is funding the transaction? Are the funds in place? What’s the earnest money situation? Consider hiring a virtual or an in-house closing coordinator. They stay in contact with the various people who handle the various closing details so you don’t have to. Find transaction management companies to interview online. “Don’t be a victim. Follow through on everything you delegate. This is yourdeal.”

Here’s the question we’re working toward answering during the 24-week challenge. How do real estate investors build real wealth and freedom without access to millions of dollars in capital? We’re on week 13 of the challenge. Zack Childress is guiding us through the steps to get to the answer. This week’s topic is Finding Buyers, which is easier than you think. What kind of buyers are there for wholesale contracts? There are retail buyers, fix and flip buyers or landlord buyers. You just have to figure out how to meet them. Consider attending auctions. If you go to a public auction, you can assume everyone there is buying with cash. Plus, auctions are good learning experiences. Go to your local REIA to find buyers. It’s an excellent networking opportunity… you need to be there. Technology can help you find buyers. It’s faster, but it costs money. Landlord buyers and tenant buyers are not hard to find. Advertise on Craigslist, or just read the ads on Craigslist. Call people who are advertising rentals… they’re either landlords themselves or property managers. Voila. Yes, every deal is a little different based on situation, but the steps are the same. Put systems and procedures in place that can be replicated. “You have to work. Work hard and do what others won’t so you can live like others can’t.”

Here’s the question we’re working toward answering during the 24-week challenge. How do real estate investors build real wealth and freedom without access to millions of dollars in capital? We’re on week 12 of the challenge… the halfway point. Zack Childress is guiding us through the steps to get to the answer. This week’s topic is Making Offers. We make offers after we’ve completed all the steps discussed in weeks 1 through 11. An offer doesn’t have to be on a state-provided contract if you buy directly from seller. Offer must show price, terms, close date and contingency period. Plus, some small amount of money must change hands (from buyer to seller in escrow account) for the contract to be valid. That’s what an offer is. Not as scary as you thought. Try to make a 3-option offer, which gives the seller choices. The options drive the seller to consider what he or she wants from the deal, and you appear knowledgeable and likeable. And you are, aren’t you? The 3-option approach can also work if you’re dealing with a seller who can’t keep up with mortgage payments. The only difference is this. Since you can’t know precisely where the seller stands on his loan, don’t box yourself in by naming a price. “If you’re not embarrassed by your offer, you offered too much.” Remember this and save yourself a lot of grief.

There’s one big question we’re aiming to answer during the 24-week challenge. How do real estate investors build real wealth and freedom without access to millions of dollars in capital? We’re on week 11 of the challenge, and Zack Childress is guiding us through the steps to get to the answer. This week’s topic is Researching and Analyzing Properties. We’re talking about running the numbers on fix and flips. ARV (after-repaired value) tells you what property might sell for. Consider both asset and affordability value. Use comps to do it. Next, work backward from ARV. You will be deducting various costs from it, including fix-up costs, utilities while you hold the property, reselling costs and other expenses. Costs, profits and length of time on market will vary by location. Cash on cash return is the measure of the actual return on your cash outlay. It requires knowing what gross rents are, then deducting all expenses, including debt service, to determine what property is netting per year. Fix and flip or buy and hold? Use a bank or pay cash? Refinance when you’ve held property a short time? When do I sell property? Still a lot to learn… stick with the 24-Week Challenge.

We’re dealing with a sizable question during the 24-week challenge. We’re on week 10 of the challenge, and here’s the question. How do real estate investors build real wealth and freedom without access to millions of dollars in capital? Zack Childress is guiding us through the steps to get to the answer. Negotiation is communication. That’s what it is, pure and simple. It may scare you to face negotiation, but can you truly say you’ve never done it before? Don’t think so. So how do you get over your fear of negotiating? By doing it… practice really does make it easier. You need to face your fears and stay on a forward path. Gather information from the buyer by listening more than you talk. Don’t be in a hurry. Confidence is your strongest ally in negotiating. Don’t wish something will happen—make it happen. Become a strong negotiator by negotiating. “You’ve got to be in it to win it.” Something else that will give you confidence is having plenty of buyers. If you have a sufficient number of buyers, you don’t get wrapped up in thinking any one deal is so important it simply must be done. So work on finding new buyers for your database every week. Solve problems of sellers and buyers. Build their confidence in you. You can learn how to do this by learning the script in the 30 Day Fast Track System. Believe in yourself and be a rhinoceros. Stay committed to your journey.

We’re tackling a big question with the 24-week challenge, and now we’ve hit week 9. The question is how do real estate investors build real wealth and freedom without access to millions of dollars in capital? Zack Childress is leading us through the steps to the answer. Our topic today is Determining The Markets For You. How do you find the right market? How does the market dictate other parameters of your business? You will need to do some research on the market(s) you’re interested in. It will pay off in the long run. You will also need to segment the market by ZIP Code…. Who lives in this ZIP Code? What is the average home price? How many houses have sold in the last year? You can use List Source to break out categories like foreclosures or cash vs. financed buyers. There are numerous tools to help you get the kind of info you need to make a strategic decision about the best market to focus on. In this business, the right support will make a huge difference to your level of success. Find a good team, find a mentor, and don’t go it alone. Zach and his team are putting together a spectacular event for the end of the year, The Freedom Summit. It will help you change your mindset, reset your focus and have the positivity that you need to be a success.

Here’s the big question we’re tackling in the 24-Week Challenge: How do real estate investors build real wealth and freedom without access to millions of dollars in capital? Zack Childress is guiding us yet again in this is episode, ep #8. We’re now 1/3 of the way there. Today’s topic is Marketing For Sellers. Zack is talking about marketing using leads that you pay for. You want to be sure you get your money’s worth, so don’t practice your sales skills on paid leads. When you mail to a paid lead, you need a system for receiving interested responses. And those responses need to be filtered by criteria that you set. As you build up to a higher business level, you will need to hire people to call the filtered leads. You will have been doing a lot of calling yourself, so you know how to manage and monitor these callers. Decide on one strategy and take action. Don’t try to manage multiple strategies at once, and don’t make excuses. Here’s what I tell people, “Plan A is your only plan. Plan B is just an excuse to quit Plan A.” Stick to your Plan A, learn you Plan A and implement it correctly. Stay with free leads as long as it takes to learn from them. Only pay for leads once you know you can respond to them quickly, confidently and accurately, and turn them into contracts.

So the big question we’re tackling in the 24-Week Challenge is this: How do real estate investors build real wealth and freedom without access to millions of dollars in capital? Zack Childress is taking us through the steps to find the answer. This is episode 7 of 24, so we’ve already built some great knowledge. Today’s topic is Finding The Right Investments. Zack is talking about properties… real estate investments… you find for free. Not buying a mailing list, no VA… it’s do-it-yourself time. Some free leads can be found on social media. Some can be sent to you by real estate agents. Comb through rental ads to find buyers and sellers. Network with everyone you meet, but especially people who are connected, however loosely, to real estate. Build a bird dog team to help you find prospect properties. Share the deal with them if their leads pan out. It’s showtime, people. Put your brain power to work and you’ll realize how many leads there are out there. “You have to dig deeper and own your own life!”

We’re tackling a big question with the 24-week challenge, and now we’ve hit week 6. The question is: How do real estate investors build real wealth and freedom without access to millions of dollars in capital? Zack Childress is leading us through the steps to the answer. Our topic today is the Four Profit Centers in Real Estate. The 4 profit centers can be represented as a set of 4 stairs. Each step builds upon the next—and each step adds a little more complexity and requires more resources. You need to determine which profit center suits you best and you’ve got to make sure you are in line with that profit center. If you have no money and bad credit, you need to focus on Profit Center 1, which is wholesaling. See, wholesalers don’t need financing or proof of funds. You are not going to close on the house. Rather, you negotiate a contract with the seller and sell the contract to a buyer for cash. You are out of the end deal based on language in the assignment agreement. This is a great strategy for starting an investing career. Profit Center 2 is creative deal structuring, and we also go into detail about Profit Centers 3 and 4.  The journey from Centers 1 to 4 can be quick or it could take a few years… it all depends on your knowledge, resources and support. If you don’t feel confident that you can execute properly, you need to keep learning, build your resources and use the guidance of an experienced mentor. Lots of great info in this episode.

Welcome to week 5 of the 24-week challenge. The question we’re addressing in the challenge is: how do real estate investors build real wealth and freedom without access to millions of dollars in capital? Zack Childress is leading us through the steps to the answer. Our topic today is: What Contract to Use. We’re glad you’re listening—this challenge will help you develop strategies, skills and knowledge to build your business. A lot of people get nervous about contracts. The best thing to do is read them and highlight the things you don’t understand. There are numerous contracts in our industry. Different ones are used with different strategies. We’ll cover these in this episode: Letter of Intent Purchase and Sales Agreement Assignment Agreement Lease Option Purchase Agreement Co-Wholesaling Agreement Demand of Funds Independent Contract Agreement We’re going into great detail about what should and shouldn’t be included in these various contracts. Getting the language right is critical for protecting you and your business.

The question we’re answering in the 24-week challenge is how do real estate investors build real wealth and freedom without access to millions of dollars in capital? This is week 4 with Zack Childress leading us through the steps. Our topic today is Branding Yourself And Your Business. Glad you’re learning with us. Branding is establishing yourself as the go-to person for real estate deals in your market. Brands start with one thing in mind… your identity, which is driven by your logo. Once you have a logo, use it on everything. Got that? Everything. Your message comes next: It has to be extremely clear and brief. What does your company do? What is your product? Then, same thing… once you have your message, use it consistently. Use the front and back of business cards. Put your logo and contact info on the front, with your message on back. That’s how concise you have to be… concise enough that your company’s image and reason for being can fit on a card. Be sure you tell people that you offer solutions. You are there to help them solve problems they have with their property. You aren’t there simply to make an investment for yourself. You also want to blog or produce a monthly email newsletter. Keep your brand in front of lenders, credit repair professionals, contractors, Realtors, etc. consistently so they remember you when they learn of opportunities. And a social media presence is important. Video marketing is particularly memorable. Consider submitting articles to media outlets too. You can even hire someone to write and post articles for you. Lots of good actionable info this episode.

So, we’re on week 3 of a 24-week challenge with Zack Childress. And we’re answering this question in these episodes: How do real estate investors build real wealth and freedom without access to millions of dollars in capital? Our topic today is Setting Up Your Business. Welcome… Some of you are new to real estate and some aren’t. Either way, you can benefit from this helpful info. First, work on your credit regularly. Even decent credit scores can often be improved. As a borrower with bad credit, you will not get the best loan rates. Wholesaling, lease options and other deal strategies don’t require much borrowing. But, to be able to take advantage of a wider spectrum of opportunities, you must have excellent credit. Plus, you’ll need to build a strong professional team, your POWER TEAM. This isn’t your employees, but your buyers, a good closing attorney, a contractor, a property management company, a banker, etc. I’ve gotten leads from ALL of these professions. They’re out there dealing with other investors and property owners. Often, they hear of potential deals I would never find out about. And this is super important: The way you structure your business needs to protect you from personal legal liability and lower your taxes. Sometimes having 2 LLCs makes the most sense. All that and more in this ep.

So, we’re discussing this question for week 2 of our 24-week challenge with Zack Childress: How do real estate investors build real wealth and freedom without access to millions of dollars in capital? Today’s topic is Getting Ready… it’s about having the tools in place to help grow your business. You should only get the tools you need to manage leads, automate, outsource, etc.—if you have the right resources. But, even if you can’t afford these tools, you shouldn’t use that as an excuse not to get started. It is certainly possible to be successful without the tech tools. The primary technology you need is for marketing. So much of what we do is manual… like research and negotiation. But marketing automation is key. For instance, an auto responder (CRM) helps you keep up with your contacts and makes it easy to categorize them. And, it gives you the ability to broadcast info to contacts or automatically send them emails. Also, websites are not that expensive and you need one. We’ll also cover direct mail in this episode.

So, how do real estate investors build real wealth and freedom without access to millions of dollars in capital? Zack Childress is going to tell us how over 24 weeks… starting with this episode. Putting a game plan in place (ep 1) covers budget and time management. We’ll start with using time-blocking, which we’ll talk about in detail, before diving into budget. Why are we emphasizing time management in the very 1st episode of the 24-Week Challenge? Because it’s SO important. Some of you have full-time jobs and families, and you want to add real estate investing to the mix. Just remember: “You can’t control time, but you can control what you do with your time.” And, in regard to your budget, you can get started in this business with no money if you’re willing to stay on the phone looking for deals… it is possible. Or, if you have a small amount of money, you can get a few marketing streams set up. Once you make your first few deals, your business will be paying for the all-important marketing and systems. In future episodes, you’ll learn about contracts, marketing to sellers, finding buyers, branding yourself, private lenders, financial analysis, negotiating deals, using social media, sandwich lease options, wholesaling, financial analysis… whoa, quite a list! Ready to grow your knowledge and skill set? Let’s get to it…

 If you are looking for a home where you can settle in and be a part of what is working in today's market, start to get involved with us. On Mondays, we are sending emails out for free content directly from me. Get on our email list here: http://5flifestyle.com/ On Tuesdays at 1:30PM ET, we are live on Facebook with our Investor's Q&A! Ask my anything! Go here now to like and follow our page: https://www.facebook.com/creativerealestatetraining/ On Wednesdays at 1:30PM ET, we are again Live on Facebook for our Dig Deeper Book Review: https://www.facebook.com/creativerealestatetraining/ On Thursdays, we send out an email about our Student Success Story of the week. Get on our email list here: http://5flifestyle.com/ You can check out all past content and success stories here: http://reisuccessacademy.com/blog/ We are also on YouTube: https://www.youtube.com/user/zackchildressreviews And we are on Instagram: https://www.instagram.com/zack_childress/ These are all free trainings for you! I'm also giving away strategy sessions. You can claim your strategy session here: http://reisuccessacademy.com/strategy I'm giving you all I have here. It's up to you to take it!

If you are looking for a home where you can settle in and be a part of what is working in today's market, start to get involved with us. On Mondays, we are sending emails out for free content directly from me. Get on our email list here: http://5flifestyle.com/ On Tuesdays at 1:30PM ET, we are live on Facebook with our Investor's Q&A! Ask my anything! Go here now to like and follow our page: https://www.facebook.com/creativerealestatetraining/ On Wednesdays at 1:30PM ET, we are again Live on Facebook for our Dig Deeper Book Review: https://www.facebook.com/creativerealestatetraining/ On Thursdays, we send out an email about our Student Success Story of the week. Get on our email list here: http://5flifestyle.com/ You can check out all past content and success stories here: http://reisuccessacademy.com/blog/ We are also on YouTube: https://www.youtube.com/user/zackchildressreviews And we are on Instagram: https://www.instagram.com/zack_childress/ These are all free trainings for you! I'm also giving away strategy sessions. You can claim your strategy session here: http://reisuccessacademy.com/strategy I'm giving you all I have here. It's up to you to take it!