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Evaluating Discount Property

Evaluating Discount Property. At the end of this session, you will be able to: Summarize key focal points of valuing and analyzing discount property Explain how to use a CMA Perform a discount analysis. Evaluating Discount Property. 7 Steps of Evaluation. Find the Property

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Evaluating Discount Property

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  1. Evaluating Discount Property At the end of this session, you will be able to: • Summarize key focal points of valuing and analyzing discount property • Explain how to use a CMA • Perform a discount analysis

  2. Evaluating Discount Property 7 Steps of Evaluation • Find the Property • Find the comps • Estimate Repairs • Estimate Costs • Evaluate Exit Strategies • Estimate Profit Potential • Complete Acquisition Sheet

  3. Evaluating Discount Property Focal Points • Location • Property Condition • Price • Financing • Seller’s Motivation/Flexibility

  4. Evaluating Discount Property Comparables (Comps) • Construction • Price • Days on Mkt • Extras • Distance • Subdivision • Appraisals • Address • Sq footage • Age • Bedrooms • Baths • Gar/Carport • Lot Size

  5. Evaluating Discount Property Finding Comps • Tax Rolls • Web Sites • MLS/Realtors • Driving for Dollars • Listing Services

  6. Evaluating Discount Property Estimating Repairs • Initial Self Inspection • Measuring Tape • Ground Tester • Marble • Screw Driver • Software • Licensed Inspector

  7. Evaluating Discount Property Estimating Costs • Buying Costs • Holding Costs • Closing Costs

  8. Evaluating Discount Property What We Covered This Session: • How to recognize a motivated seller • Summarize WHY sellers become motivated • Three specific tactics for motivated seller marketing • Explain how to target market to motivated sellers

  9. Evaluating Discount Property Driving for Dollars • Types of sellers • Pros • Cons • Tips & Considerations

  10. Evaluating Discount Property Foreclosures • Types of sellers • Pros • Cons • Tips & Considerations

  11. Evaluating Discount Property Bird Dogs • Types of sellers • Pros • Cons • Tips & Considerations

  12. Evaluating Discount Property Courts • Types of sellers • Pros • Cons • Tips & Considerations

  13. Evaluating Discount Property Advertising • Types of sellers • Pros • Cons • Tips & Considerations

  14. Evaluating Discount Property Advertising • Radio & TV • Website • REIA Groups • Expired MLS • Yard Signs • Direct Mail • Flyers • Business Cards • Newspaper Ads • Car Signs • Bandit Signs • Trade shows

  15. Evaluating Discount Property Contacting Motivated Sellers • Advertising • Direct Mail • Telemarketing • Drive By/Door Knocking

  16. Evaluating Discount Property What We Covered This Session: • Recognize a motivated seller • Summarize WHY sellers become motivated • Three specific tactics for motivated seller marketing • Explain how to target market to motivated sellers

  17. Next Session… Evaluating Discount Property

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