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Praful Thakkar, Metro Boston Homes For Sale (LAER Realty Partners)

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Rainmaker
1,554,939
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

I teach them about CAP Rate analysis and both purchase & rental comps.

Cash flow, property management introduction and refer them to a good landlord/tenant lawyer and book.

Jul 08, 2018 09:24 AM
Rainmaker
1,506,923
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

First thing is to identify if they are the "buy and hold" type or the "Flip 'em quick" type.  Both have different needs.  The buy and hold is more concerned about cap rates and the bottom line.  I'd also discuss landlording and some of the basic laws for your area.  This also begs the question, do you want to do property management?  If yes, you can take care of the renting for a fee and then have a monthly retainer for the projects and repairs that come up.  That's what I do.  I never touch the money, so no need for a trust account or the threat of an auditor showing up randomly (which they do out here).

 

If they're interested in "Fix & Flip" there is a whole other talk about how to get properties, how much rennovations cost, how much time they take, do you use a contractor or not, owner/builder rules, etc.

Jul 08, 2018 09:32 AM
Ambassador
5,258,239
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

I think you will first have to establish what type of investors they are - what are they looking for? What type of return are they looking for? How do your property management partners work...or do you do the property management if they're not looking to flip? 

If they are looking to flip, review your contractors & their individual credentials with them.

I would say that you have to tailor your presentation specifically to their current needs. All investors are not the same and don't expect the same rate of return or the same type of representation either. Be sure you know this before going in!

ALSO, ask Joe Pryor once you find out their needs. He is a wealth of information on investor clients.

Jul 08, 2018 09:36 AM
Rainmaker
4,967,093
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Boy tape it and we can pick up from your expert presentation.

 

Jul 08, 2018 09:27 AM
Rainmaker
1,057,554
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Step 1. Take CCIM CI 101 Financial Analysis. Best 1600 bucks you'll ever spend.

Step 2. USE what you learn to help your clients.

In. That. Order.
Do not pass go, attempt to teach or work with ANY investors till you know how! They're the ones who WILL ding you if you lose their money.
With experienced investors, you won't be the smartest on the team.
With greenhorn investors, you MUST.
You ain't there if you asked this Q, your supreme hotness!

Jul 08, 2018 02:38 PM
Rainmaker
1,847,731
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

I would not want to do this at all. There are too many 'wanna be's' out there already that get enough info off late night TV & the internet.

I would pass, sorry.

Jul 08, 2018 10:45 AM
Rainmaker
5,116,528
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

This is not my niche, particularly. I have a couple of steady clients who buy very specific properties in specific areas with me and they know the drill. I'm there to facilitate the identification of properties and making the deal happen. But whenever I speak with a "new" investor buyer the most important thing is to first identify what kind of investor are they and what is their objective. That sets ongoing strategy.

Jul 08, 2018 09:48 AM
Rainmaker
2,195,349
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

They should read the book -“HOLD” !!!

Jul 08, 2018 09:12 AM
Rainmaker
766,669
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

First time investors are usually great to work with since they need guidance.  It isn't that often that our expertise truly shows so early in a relationship with a new client.  I haven't found a platform to create a seminar but public speaking is something I enjoy and teaching anything related to real estate would be incredible.

Jul 08, 2018 09:10 AM
Ambassador
3,350,589
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

It's been said that we teach best what we need to learn.  

What are the investor's goals? We first need to know what they want to achieve.  What is the purpose of the investment?

To hold and rent?

To renovate and flip?

The numbers are what they are. 

Investors want to work with seasoned agents that know the market and who can resource properties that will meet their investment goals.

I wish you all the best with this endeavor.  I know you will do well. 

 

Jul 08, 2018 08:36 AM
Rainmaker
1,712,876
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

If you don't know how to compute cap rate, cash on cash, and internal rate of return you are flying blind. If you are not aware of suplly and deman you are also flying blind. You also need the best in property management or you sales you make will make you extremely unpopular.

I would add it is not about the presentation, it is about the knowledge.

Jul 08, 2018 12:46 PM
Rainmaker
613,494
Eve Alexander
Buyers Broker of Florida - Tampa, FL
Exclusively Representing ONLY Tampa Home Buyers

Lyn Sims said it best.

I used to waste my time on "new" investors...no longer. Not even if they pay me extra.

Green investors either have some non-working formula, no REAL money, or think they will get rich quick. 

I don't even want to hear about their needs...goodby! 

Eve

Jul 08, 2018 11:43 AM
Rainmaker
679,404
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

I like Ryan Huggins - Thousand Oaks, CA  answer and I'm stickin to it.

Jul 08, 2018 10:51 AM
Rainmaker
2,785,456
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

They want to know how much they will make, when and what is the risk and of course what part do you play and how much for your services. It is an ego driven dynamic with teeth. No love here except for money Speak $$$ fluently

Jul 08, 2018 10:45 AM
Rainmaker
7,870,816
Roy Kelley
Retired - Gaithersburg, MD

Focus on the available financing.

Jul 08, 2018 10:37 AM
Rainmaker
1,153,794
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

There's a lot of leeway between an equity and cash flow investment. You may want to break down their wants first then develop your seminar around each. Investing is an individual oriented business where everyone has their particular analysis at work. They can project all they want but I would point them toward current operating expenses and actual gross income before expanding the boundaries. You must feel your way through the early investment stages. Most learn quickly!

Jul 08, 2018 10:05 AM
Ambassador
6,424,817
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Know your numbers, some will already know them and know if you do not, and others need to learn how to do the calculations before they lose their shirts.

Jul 08, 2018 09:55 AM
Rainmaker
5,583,328
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

that's a question for Candice A. Donofrio 

Jul 08, 2018 09:52 AM
Rainmaker
5,773,239
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Praful,

I would run what you are going to say or handout by a CPA and an attorney.

Jul 08, 2018 09:46 AM
Rainmaker
4,181,282
John Pusa
Glendale, CA

Praful Thakkar you need excellent marketing plan. Good luck!

Jul 08, 2018 10:50 AM
Rainmaker
472,114
JoAnn Moore
The Mortgage Market of Delaware - Georgetown, DE
Home Loans in Delaware

Hi Praful, I belong to a Real Estate Investment Association. They have a different topic each month. You could start a Facebook Group of your attendees so they can ask for referrals of various tradesmen, etc. The spreadsheet is probably the most informational thing you can provide so they can make sure they don't forget some of the costs involved. Let us know how it goes. Feel free to ask me for any other ideas for your presentation.

Jul 08, 2018 10:33 AM
Rainmaker
2,222,281
Anthony Acosta - ALLATLANTAcondos.com
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

You have many great suggestions here Praful.

Jul 09, 2018 05:00 AM
Rainmaker
1,625,253
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

I've been to few, just for education, i'd suggest to check utube to see some of their live presentations. 

Jul 08, 2018 08:56 PM
Rainmaker
3,988,013
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Be real with them. Tell them what buyers want on the flip side. I have spoken to investor groups and many are misguided as to what to look for on the buy and how to fix up the properties. Share your insignts.

Jul 08, 2018 06:22 PM
Rainmaker
5,879,125
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I try not to work with investors - not my niche.

Jul 12, 2018 06:29 AM
Rainmaker
1,045,440
Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

I teach them about CAP Rate analysis and options for types of investors.. long term holds vs flips or developers etc.

Jul 11, 2018 03:32 PM
Rainmaker
3,986,308
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Don't jump when you see a great deal without checking it out really clsose

Jul 10, 2018 06:48 PM
Rainmaker
4,434,177
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

No

Jul 09, 2018 05:52 PM
Rainmaker
902,428
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Be good with numbers e.g. cap rates, rent rates, ROI's, etc.  But first-time investors... scary... for them - it's not as easy as HGTV makes it look.

Jul 09, 2018 01:12 PM
Rainmaker
934,952
Chuck Willman
Chuck Willman - Alpine, UT
NewHouseUtah.com

It's nice to establish what types of investors they choose to be.

Are they looking to buy and hold? Become property managers? Fix and Flip? Use their retirement money for 1031 exchanges? Participate in a REIT?

Jul 09, 2018 07:18 AM
Rainmaker
5,245,401
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Remember math is subject to the numbers provided. An investor should understand local trends for expenses in terms of percentages. That way a line by line examination will turn up red flags. Wrong numbers, wrong cap rates, wrong decisions!

Jul 09, 2018 06:25 AM
Rainmaker
4,800,132
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I would try to line up some successful investors for their insights.

Jul 09, 2018 06:18 AM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

FIRST TIME INVESTORS

I would start with 'what is an investor?'

Then comes, "What is a strategy?"

And lastly, "How many exits before considering a deal?"

The tools they need are directly related to the choices they make. For example tools sets are different if they are self-funed or will need to raise funding.

Jul 09, 2018 05:35 AM
Rainmaker
4,906,660
Richard Weeks
Dallas, TX
REALTOR®, Broker

I have a CE course that we developed message me your email and I will send you a copy.

Jul 09, 2018 05:24 AM
Rainmaker
3,416,038
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I like to touch on things that are not usually covered. Unpaid rent. Evictions. Damage. short term and long term repairs. Many newbies are not ready for owning and maintaining a building. All that can take  bite out of a cap rate which can be meaningless

Jul 09, 2018 05:21 AM