Oregon REIA Meeting Topic: Estimating Repairs & Making Offers

[Grace Widdicombe]

Whether you're WHOLESALING, FIXING/FLIPPING or in it for THE LONG HAUL this night is instrumental to every investor's success!

Because, unless you know how to accurately estimate repair costs, you can’t make smart offers. And when you know how to do it FAST, you’ll save valuable time, make more offers, and get more deals. If you're going to make good offers, you'd better get good at Estimating Repair Costs. The accuracy of your equations, the profit in your deals, and the cost benefit of taking on a project all hinge on your ability to Estimate Repairs Quickly and Accurately.

Mike Jacka is a long-time retailer and experienced wholesaler who’s developed a system for repair estimation for his own business that’s so easy that even his non-rehabber assistants can use it, and he’ll share it with us at this meeting.

At this training we will learn:

The process is simple, once you understand how to break it down into what you need to look at and what you don't need to spend much time inspecting.

At this training we will learn:

• What are Major Components
• What are Minor or Miscellaneous Components
• How to assign values to each category
• And the individual items within the categories

Mike will walk you step by step through his process of looking at an making an initial repair estimate on a potential deal, and show you how he does this in 15-20 minutes so you can quickly calculate your MAO (Maximum Allowable Offer) for cash deals.

This training is designed to help you build the tools/systems needed to get your offers made quickly and easily and increase the likelihood of them getting accepted. We will learn how to

• How to set the right value to start with, with free online resources for finding ARV (After Repair Value).
• How to use a “Seller Net Sheet” to negotiate more effectively—most investors have no idea how to use or present this powerful tool, but you will after this training.
• How to use the “Multiple Offer Strategy” to get more deals by giving your sellers several options that will ALL work for you, and let him choose which best works for him!

Topics:

Comps: Well show you how to use some free online resources to find true comparable sold properties to determine the ARV (After Repaired Value) of the subject property.

Negotiating: With the right tools at your disposal and a little understand of how to find the sellers true motivation then negotiating is actually a lot easier than most people think. We will spend a considerable amount of time learning how to use a Seller Net Sheet, which is a realtor’s #1 tool for getting offers accepted.

We'll also discuss some basic negotiating techniques that will turn you into a master negotiator once you learn some key phrases to listen for and when to speak and how to speak when necessary.

Constructing Multiple Offers: Estimating repairs and finding good comps are the most important part of any offer, but if you don’t know how to construct an offer, then all that effort was for not. To increase your odds of getting your offer accepted, you need to present the seller with multiple options. The challenge for most investors is how to construct more than one option that works for both the seller and yourself. By the end of this workshop, you will have the tools to help you do just that.

Building a Buyers List: A Good quality buyers list will make you more efficient and confident when it comes to negotiating with sellers and constructing multiple offers. At this workshop, we will even discuss some proven strategies to help even the most inexperienced newbies as well as many seasoned investors looking to shift their business model build a quality buyers list.

This workshop is designed to help you build the tools/systems needed to get your offers made and increase the likelihood of them getting accepted, and then what to do with the properties once you get them under contract.

Sign-Up Now!    Go to www.ORREIA.net