Six Month Mentorship Program with monthly payment option

Description:

We will meet as a class for main instructions semi-monthly to monthly. We will also have occasional individual, one-on-one sessions as needed to overcome individual and personal hurdles. Many sessions will be via Zoom, while others will be at the home of Grace and Greg Widdicombe. There will be homework assigned and there will also be work in the field – as a class and individually.

The premise is that the mentorship opportunity will last for one year at the price of $5000 per entity. An entity is a sole-proprietor, a partnership – which includes husband and wife. The mentor will be awarded 20% of the first commissions made by each entity. After that, please expect to be flying on your own with the occasional question.

Syllabus:

PART ONE

Finding Sellers   (the hardest part)

• Marketing
• Website
• Mail Outs
• Phone Calls
  • “Do Not Call” law

Create Your Avatar(s)

Build Your Lead Sellers Funnel

• Lead Sources:
  • Pre-Foreclosure
  • Aging Homeowners
  • Probates
    • Manage Lists – software, Virtual Assistants
    • Working Lists – mail, calls, Virtual Assistants
  • Wholesalers (only if you are going to buy)
  • Others
    • Skip Tracing

Negotiating with Seller & Presenting Offer

Negotiating Skills:

• Psychology
• Focus
• Gears of Building a Relationship
• Sale / Price Terms
  • Zero Money Down
  • Seller Financing and “Subject To”
  • Cash (with hard money loan)

Present Seller with Agreement

• Writing Contracts
• Securing Agreement
• Protecting Agreement at Courthouse

Figuring your Maximum Allowable Offer (MAO)

• Calculator Tools
• Rehab Estimating
• Inspections
• Calculations
• Proforma (adding in the closing costs and holding costs)
• After Repair Value (ARV) – getting comps

Closing

• Companies and relationships to build with closing companies
• Double Close vs. Single Close (when Wholesaling)
• Closing Costs
  • Buying at wholesale
  • Selling at retail

Homework Assignments

• Create LLC
• Create Logo
• Create Website
  • I will bring in outsiders to help in these areas, and you can choose how to go about building your business presence.
• Books to read will be recommended throughout the mentorship
  • Start now with “Flip” by Gary Keller, Rick Villani & Clay Davis
  • No Money Down (Bigger Pockets)
  • The Millionaire Next Door
  • Lifeonaire
• Call and meet with Lenders
• Call and meet with Escrow Agents

FIELD WORK

• Sunday afternoons – scoping neighborhoods
• “SKAT” Method
  • Seek
  • Knock
  • Ask (back to the gears)
  • Thank!

PART TWO

You’ve Got a Fixer!  Now What?

Partnering

• Joint Venture vs. regular partner
• Find a Partner
• Create a partnership agreement
• Accountability

What’s Your Job?

• Project Manager – You? Or Hire?
• Hiring Contractors and Firing Contractors
• SOW = Scope of Work
  • Inspections:
• Determine the End Buyer
• Determine SOW:
  • Must Do
  • Should Do
  • Would be nice to Do
• Timeline & Scheduling
• How to Contract Subs
• Financing Project
• Tracking Expenses!
  • COGS
  • Spreadsheet
  • Labeling
  • Pivot Table
• Staging for Sale
• Listing for Sale
• Sellers’ Costs (review)

Order Now: $1,010.00 - Plus 4 Monthly payments of $1,030.00