About the Book
Real estate day trading is using the Internet to buy and sell houses without leaving home. In many cases, the investor closes on a house and resells it the same day. Readers will learn the author's system for how to buy and sell 5-10 houses a month in today's market, using the Internet, phone, fax, and email to analyze, research, and find the properties, buyers, and others needed for the transaction. Author Larry Goins has personally done deals in nine different states and has students in the US, Canada, Australia, New Zealand, Japan, China, Israel, the Philippines, and Denmark. Day trading can be used for wholesaling properties to other investors, retailing, lease options, short sales, foreclosure investing, etc. The basic steps are: Search online for potential properties to make offers on, using specific techniques for finding the right ones. Once an offer is accepted, usually within 1-2 weeks, put it on paper using clauses included in the book, and get the property inspected by a rehab contractor to get a free estimate of how much the repairs will cost. This is done by finding reputable contractors online and through referrals from realtors and through autoresponders.
Order an appraisal. Sell it fast! Using the buyers list you have built on the internet through email marketing groups, social networking sites, blogs, free classified sites, bank-owned property sites, and more, send an email with the details of the property and instructions on how they can get the property under contract. Usually within two hours several potential buyers will reply. Set up a closing to buy it and to sell it on the same day; closings are about 30 minutes apart. By it at 10:00 and sell it at 10:30, for example. There are many ways to fund and close on the property. The book will contain step-by-step, easy processes for assignments, options, flex options, simultaneous closings, using hard money, private money, cash partners, and credit partners, none of which will require an investor's own cash or credit. With praise from New York Times Bestselling Author Dr. Albert Lowery, Robert Shemin, Frank McKinney and foreword by Michael E. Gerber. Larry Goins (Lake Wylie, SC; www.larrygoins.com ) is one of the real estate industry's most popular speakers. He buys and sells 5-15 houses a month all over the US, in today's difficult market, from the comfort of his office.
Larry speaks live an average of twice a week and holds two to three teleconferences a week. He is licensed as a mortgage lender, mortgage broker, real estate broker, and general contractor in North and South Carolina. Larry served as President (2003 & 2004) of the Metrolina Real Estate Investors Association in Charlotte, NC, a not-for-profit organization that has over 350 members (it is also the local chapter of the National Real Estate Investors Association). He has been investing in real estate for over 20 years.
Table of Contents:
Downloadable Forms. Foreword by Michael E. Gerber. Acknowledgments. Introduction. Section I Real Estate Day Trading: A New Way to Make Big Money Buying and Selling Houses the Same Day. Chapter 1 Click a Mouse, Sell a House: Real Estate Day Trading Is the Easiest and Fastest Way to Make $90,000 a Year (or More) while Keeping Your Job ... If You Want To. Real Estate Day Trading Makes Failure a Thing of the Past. Small Problems Appear Large through Novice Eyes. Real Estate Day Trading Is a Confidence Builder. Make $90,000 a Year (or More) while Keeping Your Present Job. Chapter 2 Real Estate Day Trading: A Business Done Entirely by Phone, Fax, E-Mail, and Internet. Time Line for a Typical Deal. The 10-Step Day Trading Process. Step 1. Define Your Target Properties. Step 2. Separate Good Deals from Bad Deals. Step 3. Build a Database of Motivated Buyers. Step 4. Create an Influx of Motivated Sellers. Step 5. Put a Reliable Source of Funding in Place. Step 6. Build Your Dream Team of Trained Professionals. Step 7. Prepare Your Buying and Selling Contracts. Step 8. Start Day Trading. Step 9. Use Advanced Techniques to Create a Buying Frenzy. Step 10. Take Yourself Out of the Loop. What You Need to Get Started. Section II Set Up Your Own Day Trading Money System and Start Making $5,000 to $10,000 Cash Paydays in 30 Days. Chapter 3 It's Easier to Find a House for a Buyer than a Buyer for a House: Get Investors Lined Up to Buy (Wholesale) from You. It's All about Finding Houses for Buyers. Real Estate Day Trading versus Real Estate Investment. Think Like a Supplier. What Kinds of Houses Do They Buy. Low Income Doesn't Mean No Income. Most Houses Are Not for You. Goldilocks Houses-Not Too Big, Not Too Small, Just Right. Avoid Townhouses and Condos, Multifamily Houses, and VA/FHA-Owned Houses. Chapter 4 Instant Property Analysis to Identify Profitable Deals. More Offers Mean More Money. Two Simple Questions. What Will It Sell for after It's Repaired? How Much Will It Cost to Repair? A Third Question You Need to Ask. Short Selling Is Not the Best Way to Day Trade Houses. Run the Numbers. Do an Instant Property Analysis. Buy Houses Sight Unseen. An Exception to Fixer-Upper Properties-Instant Landlord Properties. Day Trading Luxury Homes. Three Types of Deals. Day Trading Not Investing. Make Your Deals Irresistible to Buyers. Chapter 5 Use the Internet and Web 2.0 to Build a Database of Motivated Buyers. Why You Need a Database of Buyers before You Ever Talk to Sellers or Realtors. What Is a Database? Types of Database Software You Can Use. Automate or Die. Use Autoresponders to Stay in Constant Contact. The Fortune Is in the Follow-Up. Branding with Name, Logo, and Business Cards. Ways to Build Your Buyers Database. Marketing. Networking. Prospecting. Tabbed Browsing to Speed Up Your Searching. Answering Services and Call Capture Services to Handle Your Incoming Phone Calls. Answering Service. Call Capture Service. Vanity Numbers. Chapter 6 Find Motivated Sellers-Cherry-Pick the Hottest Bargains at below Wholesale Prices. Marketing. Co-Op Advertising. Bandit Signs. Business Cards. Flyers. Postcards. Classified Newspaper Ads and Free Online Classifieds. Vehicle Signs. Billboards. Take One Box. Door Hangers. Promotional Items. Ads on Buses and Bus Benches. Direct Mail. Google. Networking. Estate Investors Associations. Word-of-Mouth Advertising. Bird Dogs. Prospecting. Look for the Gap. Houses Already on the Market. Houses about to Hit the Market. Vacant Houses. Owners by Default. Defaults and Foreclosures. Tired Landlords. Damaged Houses. Farming a Market. Chapter 7 Secrets of Day Funding: Get 24-Hour Fast Cash. Show Me the Money. Where You Don't Get the Money. Borrow on Your Credit Cards. Borrow on Your Life Insurance. Borrow on Your Home. Open Reserve Checking Accounts. Borrow from Your Self-Directed IRA. Sell Nonessential, Personal Possessions on eBay. Use Unsecured Peer-to-Peer Lending Sites. Get Small Business Loans Online. Try Short-Term Business Loans. Use Microlenders. Find Day Funders. Get the Names and Addresses of Angel Investors in Your Area. Consider Partners Carefully. Chapter 8 Assemble Your Virtual Online Dream Team. With Real Estate Contractors, Professionalism Is Everything. Know What You Are Looking For. Find Good Rehab Contractors. Prescreen General Rehab Contractors. For Appraisers, Availability Is the Key. Find a Good Appraiser. Prescreen Appraisers. When Choosing a Title Company, Service Is King. Find Title Companies. Home Inspection Services. Find a Good Home Inspection Service. Prescreen Home Inspection Services. Real Estate Attorneys Protect Your Back. Find a Good Real Estate Attorney. Prescreen Real Estate Attorneys. Chapter 9 Risk-Free, Win-Win, Simple Contracts: Structure Buying and Selling Contracts to Make Your Deals Risk Free. Contracts for Buying through Realtors. Contracts for Buying from Owners/Sellers. Clauses in Contracts to Buy Properties. Must-Have Clauses in Contracts with Sellers. One Clause That You Do Not Need. Contracts for Selling to Investors. Addendums to Contracts of Sale. Chapter 10 Negotiation Scripts and Tips for Getting Your Deals Accepted. What to Say on Your First Phone Call to Owners/Sellers. What to Say on Your First Phone Call to Realty Listing Agents. Make Multiple Offers with One Deposit Check. Provide Proof of Funds. Negotiating One-Liners That Work Like a Charm. Secrets to Successful Negotiations. Adopt a Win-Win Attitude. Develop and Maintain Trust. Use Your Power of Leverage. Be Patient and Confident. Always Be Willing to Walk Away. Chapter 11 Due Diligence: Separating Fact from Opinion-Verify Everything They Told You on the First Phone Call. Order the Title Search. Control Contractors to Get a Valid Repair Estimate. Treat Good Contractors Like Gold. Use Home Inspectors for Properties That Need a Lot of Work. Find Out the Real Deal on the Neighborhood. Cancel a Contract and/or Negotiate a Better Deal. Validate Appraisals to Find Out What the Property Is Really Worth. Read/Evaluate an Appraisal Report in Three Seconds Flat. Chapter 12 Online Bidding Wars: Create an Insider List of Prequalified, Supermotivated Buyers Who Can and Will Buy Your Houses in Two Hours or Less. Turn Up the Heat and Create a Buying Frenzy. The Secret of the Whisper Campaign. Scarcity of Time. Scarcity of Access: Create a Two-Hour Head Start Short List. Make Sure They Are Qualified before You Click Send. Hard Money Lenders Prequalify Your Buyers for You. Secure Backup Contracts. Get Contract Extensions from Your Seller. Chapter 13 Let's Get Paid: Bought at 10:00 am, Sold at 10:30 am. Creative Ways to Close Your Deals without Money. Assignment of Contract. Assignment of Beneficial Interest. Subject To. Options. Simultaneous Closing. Physical Closing. Chapter 14 Duplicate and Delegate: Put 92 Percent of the Work on Autopilot and Streamline the Rest. Duplicate Yourself. Hire Virtual Assistants. Hire In-House Property Acquisition Managers. Property Acquisition Managers: Commission-Based Employees. Hiring Property Acquisition Managers. Managing Property Acquisition Managers. Chapter 15 Quick Start Your $5,000 to $10,000 Day Trading Paydays. Now What Do You Do? Four-Step Quick-Start Checklist. Advanced Day Trading Education-Yours Free. Index.
About the Author :
Larry Goins is one of the real estate industry's most popular speakers. A licensed mortgage lender and real estate broker, he buys and sells between five and fifteen homes online each month with his team of real estate day traders.
