Florida Real Estate Exam Prep Math 1: Basic Income Property Analysis

This video covers basic income property analysis discussing potential gross income, vacancy and collection losses, effective gross income, operating expenses, net operating income, debt service and cash throw-off (before tax cash flow).

Go to http://www.tonymesarealestateschool.com for more information. We offer On Demand Sales Associate Online Exam Cram Videos with 24/7 Access and On Demand Real Estate Broker Online Exam Cram Videos with 24/7 Access. We also offer the Sales Associate Course in a Classroom Setting and as an Online course. Visit http://www.tonymesarealestateschool.com for more information and class schedules.

The On Demand Sales Associate Online Exam Cram Videos are designed to prepare you for the state exam with more than 18 hours of explanation of key concepts and facts (laws, principles and practices and math), including The Day Before the Videos and Test Taking Tips Video. The Exam Cram Outline is included. The Sales Associate Online Exam Cram Videos cover everything: Laws, Principles, Practices and Math.

The On Demand Real Estate Broker Online Exam Cram Videos are designed to prepare you for the state exam with more than 22 hours of explanation of key concepts and facts (laws, principles and practices and math), including The Day Before the Videos and Test Taking Tips Video. The Real Estate Broker Online Exam Cram Videos cover everything: Laws, Principles, Practices and Math.

How to Stage Your Home for Sale

When you’re getting ready to sell your home, you want to make sure it looks as good as possible for potential buyers. Here are some tips to get your ready to sell.When you’re getting ready to sell your home, you want to make sure it looks as good as possible for potential buyers. Here are some house selling tips to get you ready to sell your house. http://coldwellbanker.com

Real Estate Values – How To Pull Accurate Real Estate Comps

http://www.REIClub.com – Having Accurate Real Estate Comps Will Save You Money. Here Are A Few Tips on How To Pull Accurate Real Estate Comparables…

Hi, this is Frank Chen with REIClub.com, the only site you need as a real estate investor. Today I’ve got a quick video on how to pull accurate real estate comps for properties you are trying to sell.

Importance of accurate real estate values?
Comps, or comparables, are regarded as one of the single-best tools in determining a home’s value. and sadly, that being said, not many investors know how to do it correctly.

Its a common mistake for real estate investors to focus on one resource to pull their comps, whether it be a realtor, Zillow, Trulia, it’s important for you to remember these are just references.

For Example:
– over-evaluate – YOU over-pay
– under-evaluate – YOU lose money

You still have to consider:
– condition of your home
– condition of competition
– bought and sold in the last 90-180 days
– type of real estate – lease option, short sale, wholesale, etc

Real Estate Comps For Sale Properties
– Local tax appraisal – good free reference
– Service Companies – paid websites – send you reports
– Court House searches – disclosures – texas = non-disclosure
– Newspaper Listings – sometimes
– Master the Area – Familiarize yourself with a specific zip code, or mapsco area.
– Call owners of other properties for sale in area
– Realtor/MLS

– properties bought and sold in the past 90-180 days (Zip)

– same criteria
– Property type – house vs. duplex
– same neighborhood – adjacent streets can differ in value quite a bit
– $$$/sq. foot – compared to average of comps
– # of beds and bath
– age and style of home – 1 or 2 stories
– condition of home
– lot size – backyard
– amenities – pool, storage house, etc..

– looking for average values – mls automatically does this

– drive-by – if a competing property is similar in almost every way, but differs in price, you should
check it out in person to see why
– the yard – landscaping
– exterior – paint and general repair
– traffic and noise – by a street or not
– garage or covered

Note: Beware of comps pulled by some realtors. Unless you tell them exactly what you are looking for they may pull comps that benefit them more than you.

Calculating Sales Price:
After removing all inaccurate comps, take the remaining properties, average their $/sq.ft and multiply that number by the total sq.ft of the property you are interested in. This will be a good starting baseline. You might need to adjust based on your assessments of other ‘for sale’ properties in the area.

Sites:
– Zillow.com – not very accurate
– Realtor.com
– Yahoo Real Estate
– Loopnet.com – commercial
– RedFin

Before any real estate transaction, you must be able to pull accurate real estate comps. This is how you avoid the common mistakes most first-time real estate investors make. Real Estate values change all the time, what may have been 3 month ago may not be the same today. Before making a high dollar investment it’s important that you utilize all the free resources out there. Get your numbers straight, because you really can’t afford too many mistakes.

Again, this is Frank Chen with REIClub.com. Please take the time to leave your comments for this video below and please subscribe to our YouTube channel so you’ll be automatically notified when we upload more quick video tips for you. Take care and good investing.

87% of All Agents Fail in Real Estate!

87% of all real estate agents fail in the first 5 years. That won’t be me, I will be the 13% that succeeds!

Sign up for a free coaching consultation: http://bit.ly/1S2MFBw

So a few weeks back I was flying back home and had 75 minutes to spare so I did a Facebook Q&A. Maybe a hundred people or so jumped on and started to ask me questions. About a third of them surprisingly were brand new agents. And I thought I’d do a video just for you brand new agent, veterans starting over and anyone in a slump. I’m going to give you a little more extreme of an answer with the intention that I get you very quickly out of the slump and into success.

Something to note: NAR reports 87% of all new agents fail after five years in the industry and only 13% make it. Agents don’t leave the industry because they made too much money, no, they leave the industry because they didn’t make any.

Before we dive deep, you’ve got to know your internal motive to act. What are your expectations. What do you need to produce vs. your goals. Oftentimes the gap between what we need and our goals creates a lot of unhealthy tension for people. So I say, what do you absolutely need, cover that, then set some goals.

For example, what is your monthly cost to run your household? Rent, mortgage payment, kids, dogs, food, dry cleaning, everything you spend money on – get that number. Let’s say it’s ,000 a year. Then what about your work–let’s say it’s ,000 a year, a total of ,000 a year you need to survive. Then how much outside monthly income do you have (spouse income, rental unit income, etc.)?–subtract this number to your total but for now let’s say this is {videoDescription}. Also, let’s say your average commission check is ,000. Well you might be saying “Gosh, I only need to sell one house every four months to survive and sustain my business.” Feel good about it. So know exactly what your costs are and then set your goals on top of that. Now let’s get started!

Morning Routine:
1.) Affirmations. Every day write this affirmation 30 times, “I earn X amount of dollars or more.” Your reticular activating system will locate and focus in on whatever you think about the most and you will begin to see it everywhere.

2.) Create a daily action checklist. These are things that you know you have to do that day that would make you money. Prospect for leads, set appointments, take listings, get offers, close deals!

3.) Listen to something motivational or something that makes you feel good. It’s not Howard Stern, not Constant Negative News and not Fox Fair and Balance. None of that stuff. Get your mindset right. Watch some videos that will get you fired up!

Lead Generation:
1.) Role-play. Practice your scripts 15 to 20 minutes a day, so when you speak with real clients, you know what to say, how to say it and ultimately get you more business.

2.) Call every new expired, FSBO and Make Me Move. Don’t be afraid to screw up. Make every mistake. You’re brand new, who cares? You’ll learn that the mistakes that agents make when they list these properties when they’re not really clear to the seller what it takes to get it sold. Or find out if are sellers are motivated at all.

3.) Call/contact five people that you know and say “Would you like a free home valuation?” Who do you know that’s thinking about buying or selling? All the important questions.

4.) Lead follow-up. Follow up on all your leads, no leads slipping through the cracks.

Be the Knowledge Broker:
1.) Read Keeping Current Matters everyday. Be up-to-date with latest real estate analytics and trends of the market so you can speak powerfully to customers about why now is the best time to buy and sell.

2) Study the daily hot sheets. There’s nothing more important than knowing everyday what’s listed, what’s sold, what’s cancelled, what’s expired and what’s closed. What were the numbers? What were the prices? Know the market inside and out.

Last thing is two open houses every weekend. You do all of this for nine months as a brand new agent, a rebounding agent or a fading winner and you will become a rising star. What do we know will happen? You will talk to a lot of people. You’re going to have some upsets. You’re going to have some tremendous wins. You’re going to create a lot of momentum and you’re going to be that 13% that succeeds in real estate!
————-
Tom Ferry, http://www.tomferry.com, is a real estate coach and trainer. In a recent Facebook Q&A Tom did, he noticed a lot of questions coming from new agent, veteran agents coming back into real estate and agents just in a slump. Tom decided to do a video dedicated to this topic and gives you a killer plan to succeed in Real Estate!
http://bit.ly/TomFerry-VideoTraining
————-
Tom Ferry is a real estate coach and trainer http://www.tomferry.com

Facebook – http://facebook.com/CoachTomFerry
Twitter – http://twitter.com/TomFerry
YouTube – http://youtube.com/RealEstateTrainingTF
Instagram – http://instagram.com/CoachTomFerry

Successful Real Estate Agent #5

http://Success.org
Millionaire Real Estate Agent Series Lesson #5

What is the best real estate investment advice ever?
Hi, I’m Martial Arts Master Bill FitzPatrick and this is Millionaire Real Estate Agent Series Lesson #5
What is the best real estate investment advice ever?
With hindsight, I wish – I WISH- I had been smart enough to just listen to Don Nardo
I wasn’t
Buy six properties and love your tenants
Simple
KISS
Keep It Simple Stupid
No, I couldn’t just do that
Over the last forty years, I have bought and sold and wheeled and dealed over a hundred properties
And, after all the flipping and converting and rehabbing –
With hindsight, I can’t say that I wouldn’t have been much better off financially if I had simply
Held on to my original six properties
Yes, Don Nardo’s simple – advice
Don Nardo’s genius
Just buy six properties and love your tenants.
You are a real estate agent
You are the insider.
Listen to Don
40 years ago, I remember Don making ,000 a year
Now, at this time, I was a high school teacher with a Master’s Degree and making ,800 a year
In today’s money, Don’s ,000 would be several hundred thousand dollars a year
Several hundred thousand dollars would be MORE than enough money to buy six properties – and pay off the mortgages – not in 20 years but in 10 years or less
Are YOU smart enough to HEAR this?
Are YOU tough enough to DO this?
Be LIKE Don Nardo
Do what Don Nardo did
And in 10 years or less
You will be rich enough to
Buy a sail boat – move to the Caribbean and give sailing lessons if you feel like giving sailing lessons
Buy a bar in Nashville, and make yourself the nightly featured country western singer/songwriter
Become friends with Kira Sedgwick and work with her to prevent plastic bottles from being dumped into the ocean
In other words – in 10 years – you can say,
Being a real estate agent SUCKS
SO you can Quit and do any damn thing you want to do
OR, you can LOVE making BIG money in real estate and make yourself the Donald Trump of Seattle or Orlando or Paris or Shanghai
Of course, most real estate agents when they start to MAKE BIG money
START to SPEND BIG money
They spend the money like drunken sailors on clothes and cars and trying to impress people who don’t like them
No, No – if you can make money like Don Nardo and then invest like Donald Trump –
Remember, Donald Trump – was lucky sperm – a little rich boy – he never HAD to work – Donald Trump CHOSE to work
Work like Don
Invest like Donald
You will be a millionaire
You will be a multi-millionaire
OK, OK,
You DIDN’T go to Harvard
No one will care
Be like Don Nardo
Don Nardo was FOCUSED
Don Nardo made his money selling ONE product – income property
Don did it in ONE town of ,000 – Natick, Massachusetts
And, at least half – 50% of Don’s business came from ONE core group of 20 investors
Don would talk to EVERY one of HIS investors EVERY week –
Don made his clients millionaires – starting with
Yes, buy six properties and love your tenants
If you like these tips – a donation to our non-profit educational work would be welcomed and appreciated.
Thank you.

Millionaire Real Estate Agent Series Lesson #5
http://Success.org