JOIN YOUR LOCAL REAL ESTATE ASSOCIATION!

Tonight was our first night attending our local Real Estate Association event. If you are an real estate professional in the Puget Sound area or interested in working with other professionals in this area, I mean lawyer, accountant, adviser, investor, broker… no matter what hat you wear or how many you wear, YOU SHOULD JOIN – Real Estate Association of Puget Sound. 

It was a great great new member event, featuring Louis Brown! Tonight was only an introduction. I will be coming back again on Sat for a whole day training! I will write a few more blogs on what I learned (and will learn) from Lou over the weekend.

Besides Lou, I also met some of the most wonderful people in the room. Today we got to speak with Ms. Wendy Ceccherelli. To be honest, her blog was my inspiration – why don’t I write down the encounters I had while learning how to invest in real estate? I love her blogs and that’s why I started this one 🙂 Can’t believe I actually met her in person today!! Only when I got home and click on my RSS, I realize — OMG. I just talked to Wendy! IN PERSON!  Please consider this as my little fan fever.

Wendy is fabulous. I wanted to share with someone about the leads I have been getting these few days. Oh, did I mention I got new business cards for me and Brian? “If I close on a real estate transaction due to your referral, please let me know and I will send you a check for $500!” I did what Alan (remember our Rich Dad class?) told us to do, and have been distributing my cards since I got them yesterday. Can you imagine it? I have a few leads already! But now I have to think about the strategy, the analysis, how to change a lead to a real deal…

I believe: one shall only touch the wall to tell it’s hardness (let’s hope we use our hands, not our heads). I approached Wendy after the event. Let’s cut the chase, here is what I learned today. Ask people about their investment goal first, then tell them what you have. And a little revisit of what Alan taught us: you got the contract, you got the deal. Must must must remember to get a seller under contract before you present the opportunity as a “deal”!

I enjoy learning from experienced people, very very very much. Can’t wait for the day I am sharing with new investors who is standing where I am today! 🙂

Talk to investors in your area. Enjoy!

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RE Class in Seattle – Short Sale Super Star!

Since we decide not to go with the $$$$ Rich Dad courses, I have been looking for alternatives that provides us with investment & networking opportunities.

Yesterday we met RoJane and learn about Short Sale. I started digging (aka Google stalking) right after, and here is what I found:

SHORT SALE SUPER STAR!
Nationwide site to share knowledge about short sales, helping homeowners avoid foreclosure by short sale.

I LOVE IT! I found so many great questions and answers on the site – and trainings!!
13 webinars (45-90 min each) for only $25 each – $147 for all 13 of them if buy together. 

Here is the topics:

  1. Why a Short Sale?
  2. Qualifying The Seller
  3. Pricing and Marketing The Property
  4. Negotiating Techniques 1
  5. HUD1 Tips
  6. Escalation and Communication Tips
  7. Disputing Bad BPOs
  8. Cash Contributions and Prom Notes
  9. Negotiating Junior Liens
  10. Lead Generation
  11. 10 Short Sale Mistakes
  12. VA, HAP and FHA
  13. Getting Short Sales Closed
and here is the link.

Building A TEAM

Yesterday was the last day to respond to the Rich Dad training program. After talking to all the professionals, friends, and families around us – we decide not to go forward with the program.

I spent a couple hours in the bookstore, and grabbed a few RE investment books:
– The Pre-Foreclosure Property Investor’s Kit
– Real Estate Advantages, Tax and Legal Secrets of Successful Real Estate Investors
– Real Estate Riches
– The ABC’s of Real Estate Investing

Brian and I also went to meet Mrs. RoJane Maybee (isn’t her name cool??) – the real estate super star referred by my forever mentor and friend David Bovee. RoJane will help us to get started, fast. Here is the plan:
– Get a house with FHA loan (3% down)
– Use the rest of the money to buy 1 rental property
– Lastly, do one Rehab before the end of the year for short term return

I started to look at Redfin listings in the different way – I now can “favorite” Short-Sales, because I know RoJane can help us figure out the way to approach Short-Sale deals. I can “favorite” ugly homes (fixers), because I know RoJane can help us understand the ROI on the rehab work.

We will not just stop here. I have ordered new business cards for the two of us – the Alan way 😉 I signed up for the REAPS (Real Estate Association of the Puget Sound) meetings next week – can’t wait to meet other RE investors in this play field!

I am way too excited for what is happening within the short week! It is only 3 days after the class and we already had a great plan and ready to roll!!

5 Networking Mistakes Almost Everybody Makes

Have you made these mistakes before? Of course! I probably learned each and every one of them in the hard way! Read on and do not trip over where I did!

5 Networking Mistakes Almost Everybody Makes

By: Jeff Haden.   Jeff Haden worked in manufacturing for twenty years and is a bestselling ghostwriter and featured columnist for Inc.com.

Everyone tries to network. Few people do it well. Most make the same basic mistakes.

Here’s what not to do when you want to expand and leverage your network:

1. Try to receive before you give.

The goal of networking is to connect with people who can help you make a sale, get a referral, establish a contact, etc. When we network, we want something.

But at first, never ask for what you want. (In fact you may never ask for what you want.) Forget about what you can get and focus on what you can provide. Giving is the only way to establish a real connection and relationship.

Focus solely on what you can get out of the connection and you will never make meaningful, mutually beneficial connections.

When you network, it’s all about them, not you.

2. Assume others should care about your needs.

Maybe you’re desperate. Maybe partnering with a major player in your industry could instantly transform red ink into black. No one cares. No one should care. Those are your problems and your needs.

Never expect others to respond to your needs. People may sympathize but helping you is not their responsibility. The only way to make connections is to care about the needs of others first. Ask how they’re doing. Ask what could help them.

Care about others first; then, and only then, will they truly care back.

3. Take the shotgun approach.

Some people network with anyone, tossing out business cards like confetti and sending connection requests like spam.

Networking isn’t a numbers game. Find someone you can help, determine whether they might (someday) be able to help you, and then approach them on their terms. Carefully select the people you want to network with.

And keep your list relatively small, because there is no way to build meaningful connections with dozens or hundreds of people.

Networking is like marketing: Targeting is everything.

4. Assume tools create connections.

Twitter followers, Facebook friends and LinkedIn connections are great—if you actually do something with those connections.

In all likelihood your Twitter followers aren’t reading your tweets. Your Facebook friends rarely visit your page. Your LinkedIn connections aren’t checking your updates.

Tools provide a convenient way to establish connections, but to maintain those connections you still have to put in the work. Any tool that is easy or automated won’t establish the connections you really need.

Use a tool to help make an initial connection, but then go old school to make a real connection.

5. Reach too high.

If your company provides financial services, establishing a connection with Warren Buffett would be awesome. Or say you need startup capital; hooking up with Mark Cuban would be awesome.

Awesome… and almost impossible.

The best connections are mutually beneficial. What can you offer Buffett or Cuban? Not much. You may desperately want to connect with the top people in your industry, but the right to connect is not based on want or need.

You must earn the right to connect. Find people who can benefit from your knowledge and insight or your connections.

The “status” level of your connections is irrelevant. All that matters is whether you can help each other reach your goals.