- Joined
- May 10, 2008
- Messages
- 277
Hello Real Estate Investors,
I'd like to share with you my client Andy's story and he just so happens to be a Rock Star of an investor. Why is he a Rock Star? Because he just gets it. He knows his stuff, he gets educated by being a REIN member, he's committed, he's implementing systems, and most importantly he takes action.
I visited Andy last night at his new investment townhouse on Quigley in Hamilton, Ontario. He just closed on the property on Monday and on Tuesday he had four prospective customers come through the townhouse at pretty much the same time (create competition!! There's four potential tenants competing for the one quality property and they know it because they can see each other). Five prospects if you include me, I was posing as a renter and filled out and application
. Andy received two quality applications, one long-term tenant who would be perfect for the place, one family of four with very good income and older children so they could probably use some more room in say a three bedroom fully detached as part of a rent to own program. (Do you see that property first, rent to own works too?! You have so much more credibility when you meet face to face inside a house vs meeting someone over the internet).
But this didn't all just fall on Andy's lap! A month before closing Andy was implementing his marketing system. He was refining his ads, ordering his signs, setting up electronic voicemail, gathering required forms and documentation. Everything was in place two weeks before closing and all Andy had to do was flip the 'On' switch and wait for the phone to ring. And that's not all; the extra 10% was on display as Andy spent a few dollars at the dollar store and Sears for home staging.
Here's a picture of the upstairs bathroom: look at the mirror, there are towels on the towel rack as well.
The Extra 10% in Home Staging
Investing can be so simple when you put in the extra 10%!!! And ssshh, there's another townhouse for rent in the same complex for $100 less but let's all promise not to tell anyone. Do you think the marketing and property itself might be the reason he can charge above market rent?
That was the marketing system but what about the property acquisition system? Andy followed his nose like Toucan Sam. Well no not really unless the bowl of Fruit Loops was economic fundamentals. The Quigley townhouse is about 1.0km from Red Hill Expressway, about 300m from King St which is a major road artery for getting in and out of downtown Hamilton. The property itself has newer everything: windows, furnace, A/C, kitchen, bathroom and is move in ready. He also successfully used some advanced real estate investor tactics in submitting an excellent cover letter that set his offer apart (the listing agent told me that was the first offer cover letter he's seen other than his own) and negotiated for the seller to pay his closing costs (less down payment, higher ROI).
So when you do see Andy in the future please do congratulate him for taking action and in taking steps towards living his life on his terms.
Till next time ` Your Life, Your Terms
Erwin
I'd like to share with you my client Andy's story and he just so happens to be a Rock Star of an investor. Why is he a Rock Star? Because he just gets it. He knows his stuff, he gets educated by being a REIN member, he's committed, he's implementing systems, and most importantly he takes action.
I visited Andy last night at his new investment townhouse on Quigley in Hamilton, Ontario. He just closed on the property on Monday and on Tuesday he had four prospective customers come through the townhouse at pretty much the same time (create competition!! There's four potential tenants competing for the one quality property and they know it because they can see each other). Five prospects if you include me, I was posing as a renter and filled out and application
But this didn't all just fall on Andy's lap! A month before closing Andy was implementing his marketing system. He was refining his ads, ordering his signs, setting up electronic voicemail, gathering required forms and documentation. Everything was in place two weeks before closing and all Andy had to do was flip the 'On' switch and wait for the phone to ring. And that's not all; the extra 10% was on display as Andy spent a few dollars at the dollar store and Sears for home staging.
Here's a picture of the upstairs bathroom: look at the mirror, there are towels on the towel rack as well.
The Extra 10% in Home StagingInvesting can be so simple when you put in the extra 10%!!! And ssshh, there's another townhouse for rent in the same complex for $100 less but let's all promise not to tell anyone. Do you think the marketing and property itself might be the reason he can charge above market rent?
That was the marketing system but what about the property acquisition system? Andy followed his nose like Toucan Sam. Well no not really unless the bowl of Fruit Loops was economic fundamentals. The Quigley townhouse is about 1.0km from Red Hill Expressway, about 300m from King St which is a major road artery for getting in and out of downtown Hamilton. The property itself has newer everything: windows, furnace, A/C, kitchen, bathroom and is move in ready. He also successfully used some advanced real estate investor tactics in submitting an excellent cover letter that set his offer apart (the listing agent told me that was the first offer cover letter he's seen other than his own) and negotiated for the seller to pay his closing costs (less down payment, higher ROI).
So when you do see Andy in the future please do congratulate him for taking action and in taking steps towards living his life on his terms.
Till next time ` Your Life, Your Terms
Erwin
