How Daylight Savings Can Help You Do More Deals

I am looking forward to daylight savings time again this year. It gives us more time in the evening to look at houses….yeah!! As real estate investors, when we have multiple deals flowing into our pipeline we get to pick and choose the deals we want to do and having more time to take a peek at them helps alot!!! There are lots of motivated sellers out there looking to sell their homes. Another reason that I love daylight savings time is that it gives us more time during the day to “drive for dollars”.

For all the info you need on filling your pipeline with more deals check out my website at www.marketingmagiclady.com

Kathy Kennebrook Discusses Why You Need To Have A Buyer Lender Seller Credibility Kit

Why do you need a Credibility Kit for your Real Estate Investing business? In fact, what exactly is a Credibility Kit? This is the question I hear most often from students when I am at real estate investing events.

Think about this for a second. Have you ever had a contractor come out to do a bid for you on some work you wanted done, say new cabinets, or siding on your house or new windows? Do you remember seeing the book they brought with them that showed the photos of jobs they had completed, testimonial letters from satisfied customers and copies of their licensing and insurance? That was their Credibility Kit. Why then as a Real Estate Investor are you not creating this amazing tool for your real estate investing business? This is definitely a tool you will need for your real estate investing business and it’s so easy to create one if you follow a few simple steps.

Your personal Credibility Kit will not only build credibility and integrity for you with your sellers and lenders, it will give you a serious edge over your competition. Almost none of your competitors know about this incredible tool that makes you look like a true professional in your Real Estate Investing business, whether you are working with sellers or buyers of properties.

I mentioned above about contractors using a book like this to show you samples of the work they have done before. They do this because they want your business and up to that point you don’t know anything about them or the quality of their work. They also want you to choose them over their competitor. Your Credibility Kit serves the same purpose in your Real Estate Investing business. Your Credibility Kit should show photos of properties you have bought and sold, letters from sellers you have bought properties from, copies of paid off notes and mortgages, before and after photos of properties you have rehabbed and letters from your “dream team”, including your title agent, real estate attorney, the Realtor you work with, your insurance agent, your pest control person, a home inspector, and your surveyor. It should also contain personal reference letters from friends and business acquaintances, such as your boss if you are still working, your banker, your CPA, your pastor or priest or any service organization you are part of. It can also include copies of any ads you run as well as your business card. It should also have a section explaining to your seller or buyer why they should want to work with you. These are all good ways for your sellers and buyers to see the kind of real estate professional you are. Make sure you also include letters from your mortgage broker and your private or hard money lenders. These can really help you cement a deal when a seller has a question as to whether or not you, as a real estate investor, can close the deal. I know this from first hand experience.

There have been instances where I have been at a property with several investors and I ended up putting the property under contract simply because I had my Credibility Kit handy to show the seller so they knew I could close the deal. I have even had sellers take a moment to call my real estate attorney or title agent and my private lenders to make sure I really was who I said I was and that I could really close on the contract before they signed it. What a powerful tool! I have even been at properties with other investors and ended up buying the property because I had my Credibility Kit with me along with contracts and the other tools I needed to close the deal.

To find out even more about building a Credibility Kit and why you need one for your real estate investing business, visit my website at www.marketingmagiclady.com. While you are there be sure and sign up for my FREE monthly newsletter and receive an additional 149.00 worth of Real Estate Investing tools absolutely FREE.

Kathy Kennebrook Speaking Schedule of Events For The Real Estate Investor

Upcoming Events:

Sunday March 24, 2019 – Atlanta, GA Millionaire Deal Maker Boot Camp – Louis Brown

Thursday May 9, 2019 – Tampa, FL REIA – Dustin Griffin

Thursday June 13, 2019 – Boca Raton, FL REIA – David Dweck

Wednesday July 10, 2019 – Baltimore, MD BWI Meetup – Bill Ames

Thursday July 25, 2019 – Florida TBD North Metro REIA – Chris McClatchey

Wednesday August 14, 2019 – Boynton Beach Fl Tropical REIA – Deb Bracknell

Monday September 9, 2019 – Atlanta,GA REIA – Dustin Griffin

Tuesday September 17, 2019 – St Louis REIA, MO Fall Fling – John Lee

Wednesday October 16, 2019 – Denver, Colorado REIA – Will Twyford

Keep checking back as we add new events that Kathy will be speaking at.

How To Add Rentals To Your Real Estate Investing Business By Kathy Kennebrook

I am going through rental applications this morning. Generally we don’t meet the new tenant we have chosen at all until they give us a deposit to hold the property.

It works like this- We advertise on Craigslist, Zillow, Trulia, Hotpads and Facebook. I list the 24 photos we are allowed along with a detailed description of the home and the directions on how to get the application. We leave the blinds open so they can walk around the home and look in the windows. We put signs up. The sign in the yard has a take one tube with detailed info about the home and the applications. We include the directions for them to get the application to us along with copies of their drivers license. We include our phone number in case they have questions. We go through them in the order they come in.

I research the prospective tenants on public record AND on social media before I send applications to our tenant check company. It is so easy for us to rent our homes and the whole system is pretty much fully automated.

We are putting out an excellent product and we expect awesome tenants. We DO NOT just pick the first one who says they have the money. DO check social media, you will be amazed at what you can find out about your prospective tenants. Do not just take the first tenant who comes along. It’s much easier to give yourself a little time at the front to find the right person the first time than to have to evict someone.

If you have a property management company doing this for you, make sure they follow through with these procedures. I am looking for tenants who are going to be solid and stay with us for the long term. I actually have two tenants who have been with us almost 16 years. For all the information you need on acquiring all the deals you need for your real estate investing business check out my website at www.marketingmagiclady.com

Kathy Kennebrook Discusses Increasing Your Bottom Line As A Real Estate Investor on Your Deals

Real Estate Tip to Increase Your Bottom Line- so many real estate investors tell me that when they are closing on a property all they are looking at is the bottom line on the closing statement. STOP doing this!! There are errors on HUDS on almost every deal we close on. You can’t rely on the closing agent to know every detail of your deal. I check every line of the HUD whenever we close, whether we are buying or selling a property.

There can be errors in per diem payments, tax pro-rations, down payment amounts, an error in who pays what part of the closing costs and items that may have been paid outside of closing. Sometimes they are big errors and sometimes they are small ones but they all add up.

For example, I was just recently part of a closing where I was the private lender on the deal and the title company miscalculated the per diem interest due me and overpaid us by $700. I called the investor and he said all he was looking at was the bottom line. Well if he loses even half of that amount on every deal he does that adds up really quickly!

Another example was on one of my own closings. How I missed this I really couldn’t tell you, other than the volume of deals that we do. I paid for an inspection outside of closing and it also got paid on the closing statement and I missed it. I did get the money back two years later when the title company was auditing files.

So you need to take the time to check your closing statements carefully! It only takes a few minutes to add money to your bottom line. For all the information you need on finding all the deals you need for your real estate investing business check out my website at www.marketingmagiclady.com While you are there be sure and sign up for my FREE monthly newsletter!