Read the book “The Goal” by Eliyahu M. Goldratt. It’s about removing bottlenecks in your business.
The gist of the book is this. If you are going to invest in something, ask yourself these 3 questions:
1. Does it reduce my operational expenses?
2. Does it improve my throughput (AKA dealflow)?
3. Does it reduce inventory (land I own, but haven’t…[Read more]
I got someone from Fiverr to build my site for $200. The developer was kind of crummy, but the basic framework was there and then I was able to make it my own. I used a ton of Youtube videos for this. I use Siteground to host it and do my email. I use Woo Commerce for my store, some Mailchimp and popup pllugins for my buyers list, and Stripe for…[Read more]
Joe Schmitt replied to the topic How long does it take for mailers from O2O to hit the midwest? in the forum **Ask A Question** 4 days, 23 hours ago
It varies. I’m in Minnesota, and sometimes it takes up to two weeks.
Brace for the H8 dude, it’s coming. 🙂
Joe Schmitt replied to the topic Rookie Mistake – Missing County Name on Notarized Deed in the forum **Ask A Question** 4 days, 23 hours ago
I’ve messed up several deeds. My saving grace is that I ALWAYS keep the signature page separate so that I can fix them. Even if they’re messed up or if you have to correct them, it’s not the end of the world. Just explain it to your buyer.
Usually the conversations go like this….
“I’m having some problems with the paperwork. The people at the…[Read more]
Here’s what I did to “Prep”
1. Set up an LLC
2. Opened a separate bank account in my LLC’s name and funded with $10K
3. Set up a virtual PO box, Email account, and Google voice # for intake
3. Bought the course and sent mail
You can worry about your website, business cards, logo, etc. AFTER your first mailer is done. Everything hinges on sending mail.
I have never used a mobile notary. I have closed 10+ transactions just by sending a deed, a purchase agreement, and a SASE. I send explicit directions to have the seller notartize at their bank and set the expectation that I will send a check (I just send a regular business check unless they specifically request a cashiers check) AFTER I…[Read more]
I use Trello and I have a card for every property and different lanes that I move it through from acquisition review to sale. I also use google drive to set up folders for all my deeds and supporting documents.
I also use MapRight to store maps for all my properties. It’s not cheap, but I can organize the maps better there, share them, and e…[Read more]
Joe Schmitt replied to the topic Piling on for Facebook questions, Business or Personal acct page, Cash or Terms? in the forum **Pro-Only Members – Ask A Question** 3 weeks ago
Most CL buyers are looking for terms. FB is a mixed bag.
I use my personal account for everything. People want to know that you’re a real person, but I do have a business Facebook page.
My day job is that of a process consultant, and part of my area of expertise is knowledge management.
For what it’s worth, if it’s going to be part of the forum, there needs to be a central coordinator who curates the content and reviews it regularly for relevancy. That is, people need to submit the content, it needs to have an initial review,…[Read more]
3% is totally reasonable. Hell, I’d give them 5% without batting an eye. Sales are hard. If someone brings me a buyer, and I spiff them good, they will want to bring me more buyers. I’d MUCH rather give a realtor 5% than continuing to post the property on FaceBook and CraigsList and answer stupid tire kicker questions.
Never used them. They will probably light up Podolsky’s dumpy “secret county list”.
I am having success offering $350 an acre in counties where the average price is $1,000 an acre.
Find a state you like, start looking for 5 acre properties (or whatever size works for you) on Landwatch, sort by price, and you’ll start seeing some counties that…[Read more]
Other processors supposedly have restrictions about using their services for real estate. I can’t honestly recall if Stripe said something in their terms and conditions or not. There has been chatter for a while about people getting shut down by other processors who said the services forbid real estate transactions. I don’t personally know anyone…[Read more]
Had it happen twice. Made my day both times.
I use stripe so that I don’t have to pay a recurring fee. I almost always get a check from the buyer or from escrow. People just seem to prefer doing that, so it’s not worth paying a monthly fee to Heartland. As I understand it, the real problem that credit card companies have with real estate is rec…[Read more]
Joe Schmitt replied to the topic Weekly Webinar interview series – do you have a preference for date/time? in the forum **Pro-Only Members – Ask A Question** 1 month ago
You should be able to record ahead of time when it works for you, and then blast it out at a consistent time. You definitely want to have a backlog of episodes ready to go before you launch.
It’s going to cost you about 2K to double close it. He obvisously doesn’t like the property that much if there is 9K in backtaxes.
I’d test market the property or get a realtors opinion if you’re not sure of the price. Options take a lot of time, and they often don’t pan out. If there is other stuff in your pipeline, I’d put this on the back bu…[Read more]
Joe Schmitt replied to the topic How do I omit parts of counties from RealQuest search? in the forum **Pro-Only Members – Ask A Question** 1 month ago
There is no “omit” or “Does not equal” feature, unfortunately. Might be available via the API, but we don’t have access to it. At least I don’t think we do.
It would be GREAT to omit things like legal descriptions that contain undivided interest or owner names that contain LLC. RealQuest makes money for every record that you download, so there…[Read more]
Also – you don’t need a PA. These are my terms and conditions when someone checks out on my website:
By completing this transaction, the buyer is agreeing to purchase real estate. The action is tantamount to signing a real estate purchase agreement.
Down payments and earnest money are…[Read more]
I’d ignore most of what you’ve heard in “other” communities. Master the material from land academy and then start experimenting. Like Kevin said, send LOTS of mail and try to avoid buying property from dead people for a while.
I think there is something to be said for buying and selling in counties where you see other land investors, but there…[Read more]
Joe Schmitt replied to the topic Gen. Liability Insurance Program for Land Flippers – Interest from LA Members? in the forum **Pro-Only Members – Ask A Question** 1 month ago
I try to carry as little insurance as possible. Steve has discussed several times on the podcast that the margins in insurance are ridiculous (almost as ridiculous as those of land). The fact that you had to fill two screens up to tell me why I need this insurance, tells me that I don’t need it.
Just my take. I’m not interested.
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