About
REIskills started in 2000,
I was frustrated by not enough information that was out in the marketplace for new investors to learn real estate investing with lots of courses for sale and I decided to build REI skills.com
So we focus on basically four boxes
Wholesalng
Box one of course is wholesaling, were you enter into an agreement with a seller and then you sell the paperwork. There’s a lot of YouTube videos on wholesaling. It’s a seller’s market right now and there’s not a lot for sale. Many people don’t even realize that wholesaling is just selling paperwork. You’re not selling property. You can wholesale a lease you can host sell an option you can hold sell anything. But you’re just selling the paperwork.
I don’t think that focusing on wholesaling is the best choice, the best plan that you can have. I have a better plan. Be a transaction engineering. Be a Solutions provider. Help the home seller solve a property.
Retailing – Rehabbing
Box two: The next box is retailing or rehabbing which is important. If you see a house that’s a mess and needs a lot of work well you need to have a plan for that. You can either Fix and Flip It Yourself or prepare it for a fix and flip and sell it to an investor. This is called whole-tailing. Many people do well by finding a really ugly house, get it cleaned up and prepared for a rehab job. They sell it as is.
You need really good cash buyers list that wants to buy a rundown house and renovate it and we focus on getting the cash buyers first. So that when you do find the deal you can quickly sell it.
Seller Financing and Lease Options
The third box is what we call seller financing and lease options.
Know how you talk to the seller with seller financing and lease options is much different than how you talk to the seller for a wholesaling or retailing transaction.
Wholesaling is like the car business. You’re trying to get the cheapest possible price. The cheaper you get it the more money you make.
So financing in lease options is different. Our focus is helping the seller maximize the equity. I always say how can we get a hundred cents in the dollar or close to that for your equity in your house after we pay off your loans?
Depending on the state that you’re in it really depends on what tools you can use. I’ll discuss that a little bit here.
So if you’re in Ohio a land contract is really well known. I
f you are in Texas contract for deed which is similar, and has some difficulty.
So really depends on where you are doing business.
That said seller financing at least options allows us as Real Estate Investors to make money by helping the seller get more Equity out of their house.
We teach you about this third box.
I think it’s the fastest way to get started
.Buy and Hold Rentals
The fourth box is traditional Buy and Hold where you put 20% down on a investor loan and finance 80%. It’s a buy and hold long term hold, and it is a way to do well by having properties get their mortgages paid down by the tenants through rent, and also the tax advantages are amazing.
There are other things that you can do in real estate investing but these four boxes I tend to focus on.
There are issues that are involved that you need to understand to do well. And there are schools to learn.
Negotiating
One of the most important skills is negotiating. Negotiating is a term that many people have different definitions of but my definition is getting a win-win arrangement.
It’s not really selling.
Selling has this traditional closing type of language where it’s aggressive…whoever is the most stubborn and
strong-minded can win the game.
That’s not what I’m talking about.
Negotiating has a lot to do with connecting with the seller.
In order to connect with the seller you need to understand NLP or neural linguistic programming
We teach that.
We also teach you how to be the doctor.
Be the doctor means ask a lot of questions and find out their wants versus their needs.
Marketing for Sellers – MOTIVATED Sellers
Finding motivated sellers is hard. There’s many ways to do it and we teach you how to do that.
Legal Issues
Legal is important: you’re dealing with people trying to sell their house and rent their house. You’re dealing with agents and mortgage brokers
Here’s an example colon let’s say there’s a expired listing on a property. It was a funny term called procuring cause.
In real estate, procuring cause refers to the series of events initiated by the real estate agent who ultimately helped the buyer close on the home. If the buyer used more than one agent, determining procuring cause – and ultimately which real estate agent gets the commission on the sale – can be difficult.
or equitable interest….
It’s legal term means that the buyer on a seller financing or lease options has a legal interest in the property and not just interest in a lease. They have real ownership. It’s important to understand Equitable interest in real estate investing especially when you’re dealing with seller financing and lease options and how to protect yourself.
Taxation
Taxation really helps you in the real estate investing business. Understanding tax is very very important in this business
the taxation of your profit is important that you understand.
For instance, capital gains and flipping. There’s a big difference between buying and reselling something within 12 months or buying and reselling something in 12 months in a day. Capital gains comes into play.
Capital gains is an important part of this business. we help you understand the basics so that you can talk to your CPA
. Well that’s a little bit about me and I look forward to helping you with your business.
Testimonials
If you need a good coach read the testimonials first because I only want to talk to people that I think are a good fit for me and I’m really busy.
I love to coach, I find that my favorite kind of client is:
- ex military: I do like military people because I’m a former Marine and I don’t like nonsense. I need people to say what they mean and mean what they say. I’m coaching you, and I need to be able to depend on you to be able to do your part
- athletes: I like athletes because I was an NCAA athlete in college and I had to juggle a lot of things and it wasn’t easy. So I do like athletes that are tough-minded.
- self-employed – I also like people that either have had their own business before, or they grew up in a family that had their own business. My father had his own business and I understand that the stress is different than somebody that’s a corporate person
So…..Let me know if I can help you at all
Best of luck to you and your family.
Brian Gibbons
REISkills.com
