I am back from the National REIA (Real Estate Investor Association) cruise that sailed to Belize, Mexico, and a Honduran island, Roatan.
Several hundred real estate investors and gurus took the trip. It was not expensive ($900) and worth every cent. There were about 4 days of classes and several evenings of question/answers, seminars, etc.
I hope some of you can go on next years’ cruise…This was my first time ever getting together with like-minded real estate people, talk about a contact high!
Otherwise when I talk to my local friends and family, their eyes glaze over, their breathing slows, and they drop off their chair in a coma. NO interest.
Here are some nuggets high-lighted from my notes–you can pick which ones you like.
Even is the new up.
If you spend your time viewing a house, make an offer on it. Make a ridiculous offer on it, but make an offer. MAKE AN OFFER!
You can plug a little device onto your cell phone and run a credit card right through it. Ka-ching! Now you’ve got the rent or the earnest money deposit.
It takes 15 offers to get one acceptance.
18% of U.S. homes are in foreclosure, pre-foreclosure or are REO’s.
35 % of U.S. homes are free and clear of debt.
Try to buy a free & clear house, it is easier. Find the hidden market of unlisted homes.
When the rules change, he who masters the new rules first, wins.
The current average listing time in U.S. for a home up for sale is 8-10 months.
Don’t buy negative cash flow alligators, get cash flow within 90 days.
You pays now or you pays later, but you gonna pay.
Don’t look at a listed property unless it’s been for sale for four months or more.
Don’t get greedy. Be the WalMart of offers. Make a little on a lot of houses.
Put your entire business with all its applications on an I-Pad. Sellers and buyers sign contract right on the device.
The cruise part of the cruise did not go so well. Got felled by a ship-borne norovirus. No swimming, no beaches. Just choked down rice and dry toast. I lost 2 pounds on this cruise; my spouse gained 5. Finally went to the infirmary for shots and medicine and they put me in MANDATORY CABIN ISOLATION. That really sucked.
Now the cruise line is going to send me a $90 discount voucher for another cruise. Whoop-te-doo. Even though their ship sickened me. Tip: Pack anti-diarrheal RXs if you go on a cruise. Wash your hands a lot and hope for a better diet than bread and water.
Furnishedowner