The 11 steps needed to successfully complete a real estate investing transaction.
Most real estate investors spend countless hours each week doing almost meaningless, non-revenue generating activities. The time you spend focused on "The Real Estate Investing Lifecycle" will yield much greater results as these 11 steps are "revenue generating activities".
Description: Create front end marketing funnels to attract motivated sellers and properties.
Tools: Websites, Power Matching, Leadpipes, Direct Mail Engine, Moby, Email Engine
Description: Gather information from seller or listing agent, pull comparable sales, and perform desktop evaluation.
Tools: Realeflow Comp Engine, FlipComp, CRM, Lead Manager
Description: Inspect property and estimate repairs needed; Analyze location, practicality, and updating requirements.
Tools: Repair Estimator
Description: Analyze the deal's potential profit using different buying and selling scenarios.
Tools: Deal Analyzer, Repair Estimator, FlipComp
Description: Make offer to the seller or listing agent and sign contracts.
Tools: Paperless Office, Short Sale Package Generator, Smoothfax
Description: Line up funding for the deal using private money or more traditional methods (banks or your own cash).
Tools: Private Lender Websites, Private Lender Leads
Description: Open and Close escrow with title company/attorney and take ownership of property.
Tools: Power Linking, CRM
Description: Complete the rehab yourself or manage the rehab process on the property.
Tools: CRM, Rehab Planner, Expense Tracker, Smoothfax
Description: Create back end marketing funnels to attract motivated buyers or renters.
Tools: Power Matching, Leadpipes, Websites, Direct Mail Engine, Moby, Sellpoint Listing Pages, Email Engine
Description: Negotiate offers with buyers or renters and sign contracts.
Tools: Paperless Office, Workflow Manager
Description: Open and close escrow with title company/attorney OR start the Property Management Lifecycle.
Tools: Power Linking, Smoothfax, CRM