workbook for real estate investing

01REKI WORKBOOK FOR REAL ESTATE INVESTING

workbook for real estateinvesting

By Real Estate Knowledge Institute

realestateki.com

02 REKI WORKBOOK FOR REAL ESTATE INVESTING


for signing up for a Real Estate Knowledge Institute (REKI) investing class. Now is the perfect time for real estate investing. Why? Interest rates remain at historic lows, good deals are everywhere, and it is easy to get started, especially with a REKI course.

Of course, in order to take advantage of the timing, you are going to need to understand the ins and outs of real estate investing. You are going to have to look at the numbers and do your homework. You are going to have to find the deals that make sense. If you do these things, then the timing is just right.

You’ve chosen one or more of the following REKI courses so that you can find the right deals, complete your due diligence, and crunch the numbers:

1. House Flipping

2. Foreclosure

3. Commercial Real Estate

4. Wholesaling

5. Tax Lien and Deed Investing

Once you’ve completed your course(s), you will be well on your way to the financial freedom you’ve been dreaming of.

Each class provides hands-on activities to help you gain real-world experience. The methods discussed in class are used every day by successful REKI professionals. Whether you want to invest in foreclosures, flip houses, or build a team, we can show you where to start. Throughout the course, REKI professionals will:

I’ve attached your course outline and look forward to working with you throughout our educational sessions together. Please let me know if you have any questions or concerns.

Thank you,

JOHN TRAUTMANCo-Founder, Real Estate Knowledge Institute

Thank you

y Provide you with professional support

y Teach you investment strategies for various markets

y Help you understand a wide range of real estate investing categories

y Give you the knowledge needed to find opportunities in any market

y Sharpen your skills

y Increase your real estate investing tools

y Provide hands-on learning opportunities

y Give you access to real estate investing resources

y Show you how to analyze markets

y Explain many financing methods available

y Show you how to calculate ROI


07House Flipping Course Outline

11Foreclosure Real Estate Course Outline

12Commercial Real Estate Investing Course Outline

14Wholesaling Course Outline

16Tax Lien and Deed Investing Outline

C ntents


the best investment on earth is earthLOUIS GLICKMAN

“


landlords grow richer in their sleepJOHN STUART MIILL

“


SESSION 1 y Administration Information y Building a Relationship y Investing Process Overview

• Steps• Fundamentals of Flipping

y Resources and Tools - Basic Walkthrough y Three Types of Opportunities y Creating a Property Profile y Understanding the Market and Finding Your Farm y Finding – Start with Realtors Overview

SESSION 2 y Evaluation and Comps – Walk-through Evaluating Numerous Properties

SESSION 3 y Funding

• Everything needed to find viable funding sources.• Proof of funds and sources

y Networking - Spreading the Word y Investor Clubs – Walk-through Finding Local Clubs

SESSION 4 y Running the Numbers – Walk-through Running the Numbers on Actual Deals y Offers y Guide on Basics of an Offer-Help to Utilize Realtor to Put Offers Out

SESSION 5 y Due Diligence

• Full Inspection• Verifying All Numbers

y Title Searching y Scope of Work – Detailed Estimate of Labor and Materials from Contractor y Closing the Deal – Work with Realtor and Title/Escrow y Investor Packet – Creating an Effective Packet for Lenders/Investors

House Flipping Course Outline

realestateki.com


SESSION 6 y Working with Contractors

• Qualifications• Draws – Contractor Payments • Lien Release Documents• Contract - Detailed Scope of Work • Change Orders

y Rehab Process y The Investor’s Role in the Rehab Process

SESSION 7 y Marketing and Selling

• Utilizing the Realtor/MLS• Marketing the Overall Business• Business Website• Additional Tools/Ideas for Marketing

SESSION 8 y Finding - Off Market

• FSBO-Signs, Classifieds, Websites• Finding Websites• Networking• Bird Dogs/Agencies• Marketing-Ads, Other Lead Sources

SESSION 9 y Finding - Off Market Continued

• Pre-Foreclosure• Prop Stream/County Records• Skip Tracing• Focusing on Financial and Situational Distress• Leads and Mailers• Communication with Owners

SESSION 10 y Duplication - Utilizing a System y Consistent Lead Flor y Business Plan/Schedule y Wholesaling

House Flipping Course Outline


purpose drives vision. vision drives performanceJIM MADRID

“


believe you can and you’re halfway thereTHEODORE ROOSEVELT

“


SESSION 1 y Defining and explaining pre-

foreclosure and foreclosure properties y Financially Distressed/Physically

Distressed y 4 D’s (Reasons for pre-foreclosure

and foreclosures)

SESSION 2 y Understanding the Market – Finding

your “Farm” y Determining Market Area y Choose area close to home y Identify real estate agents who are

familiar with your farm y Obtain demographic information y Research property values y Learn average “Days on Market” y Create your property profile

SESSION 3 y Finding pre-foreclosure and

foreclosure properties y Internet sources y Paid for services y Work with real estate professionals

SESSION 4 y Evaluate the Deal y (IF) working with Realtor/MLS y (IF) working with Owners y Run The Numbers

SESSION 5 y Make an offer y Real Estate Agents and/or Attorneys y Proof of Funds y Owner(s)

SESSION 6 y Funding Sources y Private Money Lenders y Hard Money Lenders y Soft Money Lenders y Financial Institutions y Personal Funds

SESSION 7 y Due Diligence (Validate & Verify) y Professional Inspections y Verify level of rehab/remodel y Contractor Bids y Title

SESSION 8 y Closing The Deal/Re-negotiate y Win-Win scenario y It’s business not emotions y Re-negotiate (If numbers don’t work)

SESSION 9 y Marketing/Selling y Realtor y For Sale By Owner (FSBO) y Bandit Signs y Self-Advertising

Foreclosure Real Estate Course Outline

realestateki.com


SESSION 1 y Introduction y What is Commercial Real Estate y The Benefits of Commercial Real

Estate Investing y Options y Types y Be a Finder y Wholesale y Find Distressed Bank Loans y Picking the Right Type of Commercial

Investment For You

SESSION 2 y Setting Up Your Business y Business Plan y Collateral y Credibility

y Required Resources y Session 3 y How to Become a Successful Investor y Do’s vs. Don’ts y Terms to Learn y Where to Invest

SESSION 4 y Building Your Team y Professionals y Commercial Agents y Bankers/Financiers y Referral Partners

SESSION 5 y Learning Your Investment Class y Deal Sourcing

Commercial Real Estate Investing Course Outline


y Evaluating Properties y Running the Numbers y Become an Expert in Your

Class

SESSION 6 y Finding and Evaluating Deals y What to Look For y What to Avoid y Placing Offers y Session 7 y Financing y Resources y Finding the Money y Banks y Hard/Private Money y Create Your Own Fund y Lease Options

y Seller Financing

SESSION 8 y How to Raise Your Own Capital y Creating Your Own Investment

Fund y Finding Partners

SESSION 9 y Placing Offers y Through Agents y Preferred Working With Seller

Directly y Session 10 y Due Diligence y Property Inspection y Financial Analysis y Counter Offers

y Working Out the Bugs y When to Call It Quits on a Deal

SESSION 11 y Submitting Your Offers y Three Offers y Contracts y Closing the Deal y Escrow y Title arrangements y Getting Paid

SESSION 12 y Replicating Your Business y Building Your Empire y Diversifying

realestateki.com


SESSION 1 y Admin Info y Building a Relationship y Resources and Tools-Basic Walk-

through y Wholesaling Overview

• This is the process of selling your

right to buy the property.• The wholesaler does not take

ownership of the property.• Line up a buyer to come in and

take over the deal.• Charge a reasonable fee for

service.• There are several ways to whole-

sale a deal.• Critical Functions of a Wholesaler• Benefits of Wholesaling

y 3 Types of Opportunities y Creating a Property Profile y Understanding the Market and Finding

Your Farm y Finding

Wholesaling Course Outline


SESSION 2 y Further Finding Methods

• Utilize every possible method to find deals

• Start with a couple of methods and branch out from there.

y Walkthrough of Working with Owners

• Communicating with a dis-tressed owner

• Discovering physical and finan-cial condition of the property

• Finding distressed/motivated sellers

• Simple contracts and contin-gencies for wholesaling

• Closing the deal when working with owners

SESSION 3 y Evaluating The Deal y Look at numerous deals together

and start to evaluate them. y Determine Seller’s Level of

Motivation y Does it fit your property profile? y Request Comps from Agent y Evaluate the Comps

SESSION 4 y Cost Involved in the Deal

• Rehab Cost• Holding Costs• Closing Costs• Wholesale Fee

y Formula vs. Running the Numbers• Formulas• Running the Numbers

y Making Offers• MLS Listings• Working with Owners

SESSION 5 y Due Diligence y Completed after accepted offer. y Be mindful of due diligence

contingency timeframe. y Inspection/estimate from

contractor(s) y Verifying all numbers y Title report y Scope of Work

y Investor Packet y The goal is to give investors a solid

tool to easily evaluate the deal. y It is critical to give a quick summary

and then provide proof of all details. y Summary y Property Report y Property Specifications y Purchase Price y Rehab Bid y ARV (After Repair Value) y DOM (Days on Market) y Proposed Exit Strategy (Flip or

Hold?) y Location y Property Listing y Purchase Contract y Comps y Photos y Preliminary Title Report

SESSION 6 y Building a Buyers List y It is very important to keep an

ongoing list of potential buyers. y Contact numerous buyers each

week to find out about their criteria. y Resources to Find Buyers

SESSION 7 y Mechanics of Wholesaling y Adding New Buyer y Assignment of Contract

SESSIONS 8-10 y Further Finding Methods (Review of

all methods, help branching out to find further deals.)

y Utilize every possible method previously discussed.

y Finding and working deals together to ensure student is taking action

realestateki.com


Tax Lien and Deed Investing Outline

SESSION 1 y Get To Know the Student y Introduction to TLC

• TLC vs. Other Investments• Your Role as a Tax Lien

Investor y Understanding Your Reasons y Introduction to the E-library

SESSION 2 y Auctions y Post Auctions y County Conversion Rules y Free & Clear y Attorneys y Finding List y Screening List

SESSION 3 y Property Profile

• Pictures of Property• Subdivision Maps• Comparables

y Relocation Packet

SESSION 4 y Types of Auctions y Post Auction y County Purchase

Requirements

SESSION 5 y Investment Practices y Investment Capital y Entrepreneur Business

SESSION 6 y Introduction to Tax Deeds y Auctions y Post Auctions y Finding List y Screening List

SESSION 7 y Property Profile

• Pictures• Mapping• Comps• Area

SESSION 8 y County Statues on Jr. Liens y Free & Clear y

SESSION 9 y Types of Auctions y Post Auction y County Purchase

Requirements

SESSION 10 y Selling Is Part of Life

• The Philosophy of the Sale• Fundamental Principles of

Selling y Exit Strategies

SESSION 11 y Methods to Sell Quickly

SESSION 12 y How Properties Sell y What Information Is Needed y The Internet for Information

SESSION 13 y Ad Designs y Software Training

SESSION 14 y eBay y Bid4assets y Craigslist y

SESSION 15 y Title Transfer y Types of Deeds y Finding Deeds y Recording Process


risk comes from not knowing what you’re doingWARREN BUFFETT

“


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Encompass REIThe definitive tool for real estate investors.Learn more at http://EncompassREI.com

Date post:	14-Apr-2022
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