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How to Find Under Market Real Estate Deals

October 24, 2012January 2, 2011 by Julie Broad

Teleclass with Julie Broad and Dave Peniuk

In this call Julie and Dave will show you how you can make 2011 the year where you take a gigantic step forward towards transforming your financial future … and how you can do this with just two deals.

This call is all about how two under market real estate deals can put $500 more in your pocket each month, get you a $5,000 pay day, and increase your net worth by up to $50,000! And they will give you a simple 3 step process to get that started.

Specifically, in this call they will share:

Examples from two average deals Julie and Dave did in 2010 that put more than $500 in their pocket each month, gave them close to a $5,000 pay day, and added to their net worth by $50,000.
Three steps to find under market real estate deals like the two they share,
How you can do these two deals even if you have less than a few thousand dollars to invest,
Plus they will invite you to apply for a complimentary one on one strategy session (but you’ll have to listen to get those details because they only have a limited amount of time to offer those!!).

Download the MP3 on how to find undermarket real estate deals

**We had a few technical difficulties with the recording … please wait 10 seconds or so while it loads!**

Published January 2nd, 2011

How to Think Like a Successful Real Estate Investor

September 24, 2014July 28, 2010 by Julie Broad

Go ahead and eat that new mini Blizzard at Dairy Queen or indulge in an extra piece of fish when you go out for fish and chips because you aren’t REALLY what you eat. What you eat will determine whether you have energy or not. And it will determine whether your pants fit or not. But you aren’t actually going to turn into a cookie dough Blizzard or a batter coated piece of halibut.

But if you THINK you are going to be a successful real estate investor and you focus your thoughts on that then you probably will become a successful real estate investor. If you THINK you are going to be the kind of boss that gives yourself Tuesday afternoons off to go to the Spa then you have a good chance of becoming that boss to yourself.

Now I am not about to say that all you have to do is think it. I hope you’ve been around the Rev N You scene to know that I believe the missing piece to your success is almost always ACTION. Think whatever the heck you want – if you just sit on the couch watching CSI reruns you aren’t going to be anything different than what you were when you sat down.

The only thing holding you back from being 20 times more successful than we’ve been is YOU. You are standing in your own way right now. All you have to do is get out of your way.

The life you are living today is thanks to the thoughts you have had so far in your life. If it’s not quite the life you want then it all begins with a change in thought and a change in focus.

Now, if you’re sitting there thinking, that’s great Julie how can I think I am a successful real estate investor when I don’t have any money to invest or how can I can think about being a successful real estate investor when I have no idea where to start? Or, I already am a real estate investor but the bank has stopped loaning me money so I can’t get any more properties.

If one of those thoughts are similar to the ones you’re having then here’s what I suggest:

Change your focus: Instead of thinking that you don’t have money or the banks won’t loan you any more money figure out how you can get money to do your deals. Stop thinking about all the things you can’t do and focus your attention on the things you CAN do. For example, you CAN find joint venture partners with down payment money and you CAN find private lenders to loan you the money you need for financing and you CAN find creative ways to buy property that require less money down or have seller financing or no financing requirements at all. We’re going to be rolling out a program in August to help you find, present and sign up joint venture partners which is our primary strategy for finding money for down payments and getting financing. Or, if you just want to learn how to get private money we highly recommend the program we used to become private money magnets- the Private Money Blueprint.
Take Action: You kind of do have to ‘fake it until you make it’ but it’s not so much that you have to be phony about it. Rather I’m suggesting you act like a successful real estate investor would act in a given situation. Successful real estate investors are typically great problem solvers who hustle until a deal is done. When confronted with an obstacle they see an opportunity. So until you feel confident and knowledgeable enough to be that way make yourself pretend to be that way. A little thing like lack of funds wouldn’t hold a successful real estate investor back so it won’t hold you back either – when you’ve made the bold and unwavering commitment to become one.

Listen, this is uncomfortable. It sounds easy but it’s not. Your comfort zone is a powerful place and it tries to pull you back every chance it gets. You have to be conscious of the pull of the comfort zone and always fight it. Because the comfort zone is clever with the excuses that sound like real reasons to not do what needs to be done to become the person you want to be.

Your comfort zone fills you with fear and makes it seem like what has to be done is way harder than continuing to live the life that doesn’t satisfy you. But when you feel that pull simply go back, change your focus and take action. Bit by bit your old comfort zone will fade into a new comfort zone – one which is hopefully closer to the one in which your ideal life exists.

You are what you think you are – so start feeding your brain great thoughts!

Published July 28th, 2010

Image 2 Credit:Christopher Bernard Istock Photo

Video Tips for Real Estate Investors

December 10, 2012April 23, 2009 by Julie Broad

I’m Julie Broad with Rev N You with Real Estate …and todayI am going to tell you the story of the Ferrari Enzo and the Honda Civic. Then I am going to introduce you to our first property and give you three easy to use tips to find your own winning real estate investment.

If you’re not familiar with Rev N You, you may not know that our investing philosophy is not about getting rich quickly. It is about getting rich with real estate … and it’s about putting cash in your pocket EVERY month from your properties … but, for us, it’s about taking minimal risks to gain big rewards…

When we launched our Real Estate Millionaire: The Essential Starter Course, we had readers write to us and say things like:

“We love your down to earth approach but we can’t wait years to get rich”
or
“I don’t think your program is going to work for me – I think I need to do flippers to get fast cash”
or
“Sorry but your slower approach is just not going to work for me. I have to become a millionaire this year.”

We get it!! We really do … after buying a couple of properties we weren’t getting rich fast enough so we set out doing a bunch of high risk deals. High risk deals that today we’d never touch – because today we understand the fundamentals of real estate investing. And, for the right person with the right knowledge and resources, some of the deals we did would have been golden opportunities, some were just stupid.

But it’s why we now explain things with the Ferrari and the Honda.

You see – there are SO MANY ways to make money in real estate. And they are exciting!! Flipping, buying wholesale, development, subject to investing, lease option investing, buying foreclosures … the list is long … and there is BIG MONEY to be made and some of it can be made quickly!

But it’s like learning to drive on a Ferrari Enzo vs. a Civic.

Get what I am saying?! What we teach are the fundamentals of real estate investing. YOU HAVE TO KNOW THEM to safely use any other technique. When we didn’t fully understand the basics and we got into no money down deals and flips we got ourselves in over our heads. And, had we not had good jobs at the time, we would have caused ourselves some serious financial problems.

Now, we’re confident in the fundamentals and we’re expanding into other strategies. Our wealth is going to grow at an accelerated pace … but even with our tried and true basic low risk investing strategy of buy and hold we’re still enjoying thousands of dollars in cash flow from our properties AND we have net worth of over a million dollars … so like I said … the Honda gets you there just maybe not quite as fast (but with much less adrenaline).

So what can you do to find your own winning properties in today’s market … well … you might already be familiar with our five steps to invest in real estate, so I am going to give you three things to do right now to get yourself ready to take those five steps:

1. Educate Yourself

We never stop learning … I read at least three books a month… I try to read a new book every week. I spend close to $20,000 a year on courses … some are real estate related but others are specific to marketing or even just personal development. And we both find people we can learn from. Dave in particular is really good at this … he picks up the phone and talks to people. He finds people in the areas of expertise he wants to learn about and talks to them. He meets people and asks them lots of questions.

2. Network

The best deals usually come from within your network. Realtors or mortgage brokers with their ear to the ground are a great source of deals. You have to get plugged in to the people who can find you great deals.
If you are someone that doesn’t have money to buy real estate – networking is critical. We’ve been able to build a nice sized portfolio not because we did no money down deals or because we had a lot of money but because we found a few partners with money to invest with us. They didn’t have time or knowledge … we took the time to build the knowledge and became their partners.

You are going to need partners to work with and the best way to find them is through your network. Ask friends, family, colleagues, your family dr. or dentist … go to local real estate investing groups … just meet people!! Start educating them about what you’re learning and see if there’s a mutual interest.

3. Take Action!!
If you sit on the sidelines waiting for this market to improve you are going to miss the opportunity of a lifetime. Big wealth is being created right now!! Sit down and make your plan!! Where do you want to be? Where are you today? What is the gap in the middle and how are you going to get from here to there.

Just the act of writing down your plan is taking action … and I love this quote from Robert Ringer in his book ACTION! Nothing Happens Until Something Moves. Where he says:

“When you take action – particularly bold action – the atoms in your brain vibrate at enormously high rates of speed, which often results in amazing and otherwise unexplainable “coincidences” happening in your life. I believe that the genius that erupts from action … produces a “telepathy” that brings a person in contact with the people, things, and circumstances he needs to accomplish his objectives”

So – with that – take the time to educate yourself on the fundamentals of real estate investing, go out and find some people doing what you want to do, or that can help you do what you want to do, and TAKE ACTION!!
We promise that you will not regret it …

Oh – and if you’re not already a Rev N You with Real Estate newsletter subscriber– what’s stopping you? It’s free … and we create videos just like this one, free reports, and send great advice to our valued readers several times a month!!

Posted on April 23rd, 2009

How About Freedom 40 Retiring With Real Estate

December 13, 2012November 16, 2006 by Julie Broad

Retiring with real estate is really appealing so we thought we would summarize some ideas from the Australian Property Investor Magazine on ways to achieve financial independence through investing in property.

One of their theories is that if you have five average- priced properties paid off completely, you should have the ability to replace your working income.

To apply that to Canada, the average priced home in Canada according to the Canadian Real Estate Association (CREA) in September 2006 was $277,470.

Hence, if you had 5 x $277,000 properties, this would equal $1,385,000 in equity. From this, the article debates the various ways you could earn income. They include:

1. Borrow some of the equity and live off that;
2. Sell some or all of the properties and invest the money in “safe” income producing stocks, bonds, and other liquid wealth products;
3. Live off the rent.

Any of these would work really. It really depends on, yes, you guessed it, your real estate investing goals!

Let’s look at living off the rent. For argument’s sake, let’s say you have a GRM (remember, your Gross Rent Multiplier we discussed a few issues back?) of 10 on all five of the properties. This would look like this:

* $277,000 divide by 10 (GRM) = $27,700 per year
* Times $27,700 by the 5 properties = $138,500 total income per year.

However, this does not include any expenses associated with renting the property. As we have discussed before, we average approximately 40% expenses on our properties (taxes, insurance, property management, maintenance, heat and hydro – where applicable). So, taking that into account, you are left with:
$138,500 in total annual income minus 40% ($55,400 in expenses) = $83,100 annual income.
Of course, the taxman has to take some of that and then you can finally start paying for your personal expenses of food, housing, entertainment etc. But, it provides you with an idea of what can be done with some forethought into your objectives, savy purchasing, and dedicated debt reduction! In future editions, we’ll discuss more about the idea of retiring using investment properties.

Published November 16, 2006