All Forum Posts by: Wendy Patton

The competition is fierce, laws are constantly changing and you get fearful of success. Attend this workshop and you will learn how to get an edge! You will be trained on how to get really good at finding the best and most profitable deals and other investors will be begging you to call them with your treasures or want to fund you.

The Hidden Market Workshop with Tony Youngs will teach the foundation of what is happening in our local market today. You will learn how to choose an area to master and how to plot a course of properties to go visit and determine the true market value, inspect, and analyze. By this, you will learn how to find the Hidden Market! Find homes with no for sale signs, and not on a list. This will eliminate competition. Then, you will learn how to tell if there are any liens or back taxes and whether it is in a good or bad area. After this, you will understand where the best area's are! There will be a segment of contract writing and sellers point of view as well as formulas of how much to offer and how to present it. Lastly, you will learn how to overcome any obstacle that holds you back and how to build a list of local investor buyers to buy the deals they find.

Here's More of What You Will Learn:

• How to find all the best deals in your own zipcode
• Cash buyers that will beg you to sell your treasures to them
• How to prosper even with outrageous rehab costs
• Learn how to build trust and rapport with sellers
• Learn how to master your own market
• Eliminate your fear of getting stuck with a property
• Make offers with low risk
• Build a list of local investors
• How to invest legally, and ethically
• How to create your own list of probates, absentee owners, vacant & distressed properties, that nobody else has

If you're not making offers, you're not making money! Act now and Register for this full day event!

Cost to Attend:
Premier Members: FREE
General Members: $49
Non-Members: $79
Bring a Guest: $20
**Pre-Registration for this event is Important - we ask that you please register before the day of the event!

Join us for a panel of our most successful members as they answer the question, “If I were starting from scratch right now, how would I make $1 million in 24 months?”

Tentative Schedule:
5:15 - 6:00pm: Doors Open
Network with MREI Members, Guests and Vendors

6:00 - 6:30pm: Ask The Expert

6:30 - 6:45pm: Haves and Wants

6:45 - 7:15pm: Additional Networking

7:20pm: MREI Announcements and Vendor Raffle

7:30 - 9:00pm: Main Meeting Event - The Millionaire Panel - “If you had to start from scratch in this crazy market, with no cash or resources other than what you know, could you be a millionaire again in 2 years?”

Our goal for this event is to get multiple perspectives on how successful investors do things, look at things, plan things, and more! It will be very valuable to investors who are trying to make the transition from starter to estate builder…because it’s about the real-life tactics and thought processes of people who’ve already ‘been there, done that’. This is going to be a fun event on top of information loaded!

These are real-life investors giving real-world advice! This meeting is a once in a lifetime chance to gather hard-won, in-the-trenches advice from people who’ve reached the summit so that you can do the same thing—faster and with fewer bumps in your road.

Let us set the stage for our panelists...you wake up one morning and discover that you've lost EVERYTHING except your Knowledge. You have no properties, no leads, no contacts, no marketing, nothing (except maybe your cellphone, computer, and money for basic living expenses). “If you had to start from scratch in this crazy market, with no cash or resources other than what you know, could you be a millionaire again in 2 years?” The answer across the board was, “Of course!"

Don't miss this event! Register now and invite your business partners, family, and friends to attend!

Monthly Meeting Cost:
Members: FREE
First Time Guest: FREE (please pre-register online before the event)
Returning Guests/Non-Members who already used their free guest pass: $20 Online before the day of the meeting or $25 at the Door.

Very cool!  Pace is great!

@Billy Mcavoy see?  then you are also already close to that 50% mark which is huge and your tenant is the one paying that for you - those low rate lows won't be around for awhile, if ever.  Enjoy it and keep it - don't pay it off early at this point.  It's paying itself off with almost 10k per year - 

@Billy Mcavoy I love the 2.75% mortgage and you won't be getting one of those in the near future unless you buy Subject-To.  I might have a different thought then others, but I feel paying down and paying off is what builds true wealth and it's not buying wealth, BUT there is some balance to that.  Now - go look at your amortization schedule with 2.75%!  Now compare that to what 5% or 7% would be - How much is going to PRINCIPAL?   I did a presentation on Subject-Tos a year ago and had never discovered how much goes towards principal with lower interest rates vs. higher interest rates. I am sure most seasoned investors do not know this either.  I only thought the interest portion of the payment would be affected by the change in interest rate, but that is not the case!  The lower the interest rate the higher the amount goes towards principal.   The chart below is what i came up with for a mortgage (30 years) and loan balance of $275,000.    The first line  is the Principal and Interest for that interest rate.  The 2nd line is the principal (on left side) and the interest(right side) for year 1 (really month 1).   What the heck????? with a rate of 2.5% (close to 2.75%) you should be getting almost 50% of your payment going towards the principal balance (without paying the extra $250/month).  Where as if you had 6.5% you would have about 14% of your payment going towards principal!   Yep, that is crazy to me!   The next two lines are year 10 and year 15.   Even in year 15 the lower interest rate has almost 2/3s of the payment going towards the principal where as the higher interest rate still isn't at 50%~  

So my advice - save the extra $250 a month and save up for your next deal (or repairs on this condo)!  Look for Subject-Tos that have low interest rate mortgages - they will be key now due to this exact reason of the amortization schedule.  It's easy in this business to earn much more then 2.75% so keep that note where it is and as long as you can.  I hope this all makes sense and a few other people will have a light bulb go off.   You actually get a double great deal when you have a low rate - 1) the lower payment and 2) the higher principal reduction from day 1

To Your Success

Wendy

@Michael Oliver yikes get a job quickly!  Also figure out how you can live as cheap as possible until you can get some real estate stuff going - hoping not to use your savings.  Let me know if i can help in anyway - meaning advice on lease options or subject tos

 @Joe S. yes in Ohio easy to do - the one thing i would make sure of is Cincy - as there are limits to security deposits and maybe lease option fee limits in that city - I hope this helps.  The rest of Ohio doesn't have those same issues.  Good luck to you and let me know if I can help you in any other way.

@Tyler J.  If you are licensed you can submit creative deals yes, however, in CO i am pretty sure agents can't do lease options (for their clients) likely not subject tos either (although as an agent i would never recommend my seller do one of these) - so it would have to be an unlisted property.  Check to make sure you can do them with unlisted properties.  Other creative deal structuring like seller carry backs or mortgages, likely are fine.  Let me know what you find out as i do like to keep up on different states rules for agents and investors for subject-tos and lease options specifically.   

There is no subject-to loan. A subject-to is when you start to pay someone elses loan after they deed you their home. Each seller has their own reason for doing this - just like any type of motivated seller. Could be they inherited it, could be they are moving and don’t have time or want to sell it, could be behind on payments, could owe too much to list it, could be a ton of other reasons also. I hope this helps!

Come find out how to get the deed to a property or what we call a "subject to."

Tentative Schedule:
5:15 - 6:00pm: Doors Open
Network with MREI Members, Guests and Vendors

6:00 - 6:30pm: Ask The Expert

6:30 - 6:45pm: Haves and Wants

6:45 - 7:15pm: Additional Networking

7:20pm: MREI Announcements and Vendor Raffle

7:30 - 9:00pm: Main Meeting Event: Understanding Subject To Transactions with Wendy Patton
How do you get a seller to give you the deed to a property when they have equity in it or they are not in trouble at all financially? Come find out how to get the deed to a property or what we call a "subject to" with Wendy Patton. Wendy has done many of these deals over the years and has written a book on the topic.

MREI Members attend FREE 

First time guests attend FREE 

Returning guests are $20 pre-registered (click here to register) OR $25 at the door 

CLICK HERE for more information! 

See you all on March 16th!