How To Legally Spy On Banks

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Hey, I’ve got an awesome resource (it’s free and you can access it online) that allows you to legally spy on banks… so that you know when they’re lying to you.

Maybe you’ve had this experience…

You’re interested in doing package deals. So you call a bank and ask if they have any bulk REO. But you’re pretty darn sure they’re not telling you the truth. How do you know?

I just shot that video and walk you step-by-step how to research a banks REO inventory online.

And if you’re thinking… “Sounds great Patrick but I don’t have funding to buy package deals.”

Guess what?

You don’t have to buy bulk REO packages yourself, you can also broker them. So… NO EXCUSES!

Watch the video below now…

Here’s the link to the FDIC website.

Leave your comments and questions below. And if you enjoyed this video, make sure to “like” it before ya go. Thanks!

- Patrick

P.S. – Want to learn more about Bulk REO?

PMBP Faculty Member, Susan Lassiter-Lyons, taught me about this killer resource… and she has an in-depth video called “6 Simple Steps To A $50,000 Payday Buying, Flipping, Or Brokering Bulk REO.”

It’s definitely worth checking out! Enjoy :-)

P.P.S. – Here’s a pic of Susan and I hanging out at The Boathouse on Isle of Palms. One of my favorite spots that’s right in my backyard…

Tags: bulk reo, bulk reo deals, bulk reo properties, patrick riddle, Real Estate Owned, REO Deals, REO Properties, susan lassiter lyons
Posted in Cool Stuff, Real Estate Investment Buying Strategies, Tips and Tricks | No Comments »

How Part-Time Investor, Tim Ryan, Closed A 42-Unit Deal With None Of His Own Cash Or Credit

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Hey, I was on the phone with Private Money Blueprint member, Tim Ryan, and he was telling me about a 42-unit deal worth $3mm bucks he closed.

It’s amazing how far Tim has come since joining forces with us back in May ‘09.

A few short months after implementing the PMBP system and processes, he sent me this message…

——

“Several months ago I was spinning my wheels trying to close a single family with a bank… earlier this month, I closed on a 16 unit deal, a 2 duplex deal, and another duplex deal REO – with private money. My net monthly cash flow is $2000!

Thanks guys because I know this is just the beginning.”

——

Yep, it was just the beginning Tim :-)

From spinning his wheels trying to close a single family deal through a bank… to closing multi-million dollar deals.

And get this…

Tim hasn’t used one dime of his own money to acquire any of his properties. To finance the 42-unit, he put a simple ad online and got $560k in private money!

I asked Tim if he would hop on the line and share exactly how he’s finding and funding his deals… and he said “YES!”

And as I’m sure you can imagine… the interview kicked some serious butt! Our Private Money Monthly members loved it.

Here’s just a sample of what Tim covered:

* How to get Realtors feeding you “pocket listings” (great deals that other people aren’t finding)

* Tim’s secret ingredient (it starts with a “P”) to getting private money

* How he used a pre-payment penalty to his advantage when negotiating the 42-unit deal

* The exact ad that Tim used to find $560,000 in private money AND a credit partner (swipe and deploy this into your biz)

* The unconventional method Tim used to find the PERFECT resident property manager

* and much more!

The good news for you is…

We record all of our live monthly trainings and I uploaded the video in the member’s area :-)

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Not a Private Money Monthly (PMM) Member Yet?

= = = = = = = = = = = = = = = = = = = = = = = = = = = = = =

To get access to this recording, you have to be a PMM member… but right now, when you take a measly $2.95 test drive in PMM, you get 4 of our training programs… FREE!

>>> Become a PMM Member, Get 4 Training Programs, & Access The Interview w/ Tim Ryan <<<

Heck of an offer if I do say so myself (but there’s a reason for that… just click the link and I’ll explain).

Oh yeah and btw, this is a PART-TIME thing for Tim. He has a full time gig, is married, and has 3 kids.

So no “I don’t have time” excuses.

You can do this.

- Patrick

P.S. – Check out this pic of Tim with his wife and son outside of his new 42-unit deal…

Congrats buddy… from the entire PMBP family!

We’re proud of ya :-)

Tags: investing in apartments private money, patrick riddle, pmbp, Private Money, private money blue print, Private Money Blueprint, private money for apartments, private money lending, private money monthly, private money multi family, tim ryan
Posted in Marketing, Property Management, Real Estate Investment Buying Strategies, Real Estate Investment Financing Strategies, Tips and Tricks | No Comments »

How to Find Hidden Profit Centers in Your Deals

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Alrighty, just put together a brand new video for ya on finding hidden profit centers in your deals.

I walk you through a real world situation from last week with one of my Platinum coaching students, Jason Tooley.

Through the negotiation process with a seller of a 48 unit deal, I told Jason to ask two questions (that you’re about to learn) that uncovered piles of additional profits.

Check out the video below…

Amazing what a couple simple questions can uncover, ehhh?

Join the conversation here and toss your questions, thoughts, whatever is on your mind in the comment area.

And before you go, show some love and “Like” this post. Thanks :-)

-  Patrick

Tags: creative real estate investing, hidden real estate profits, negotiating real estate, patrick riddle, real estate investing, real estate negotiating
Posted in Negotiating, Real Estate Investment Buying Strategies, Tips and Tricks | No Comments »

Are You Profiting From Your Competition? Here’s how…

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In today’s post, Brooks Conkle of The Southern Investor shows you how to profit from competition through cooperation…

The last 2 wholesale deals that I have done used a key strategy that a lot of investors, especially new ones, don’t use.  What was the strategy?

Relationships W/ Other Real Estate Investors

Typically thought of as competition in the world of wholesaling, other investors can be a valuable source of business given that you take time to develop relationships with key investors and keep in touch on a consistent basis.

Why do I think that having ‘friendly competitors’ is a great idea for your business?  Because you won’t always have all of the pieces to the puzzle that are needed to make a deal successful.  The Property, The Buyer, and The Financing – all 3 of these must be had in some shape or fashion in order to cash out a deal.

Buyers go through cycles and even serious buyers are not always buying.  You might send them a deal and they may be busy fixing properties, working on refinancing others, not like the area, etc – anything can happen in their lives that can delay them buying your property.  You may find what you think is a perfect deal but for some reason the buyer list that you have developed is not biting on your property.

What should you do?

Break out your trusty relationships with other wholesalers.  Offer to JV (joint venture) with another wholesaler that can bring a buyer in exchange for 50% of the profits.  I believe that if you incorporate this strategy that you will experience more long term growth and will generate more profit than if you don’t.  You can do more deals in a shorter period of time if you do and start incorporating the velocity of money into your business model.

Let me show you how…

If you have a list of say 100 buyers and you know of 5 other serious wholesalers that have the same, then you have expanded the number of buyers for your property from 100 to 500.  The same works with deals.  If you are marketing for deals and so are the other 5 wholesalers in your network, then you potentially have 5 times the number of deals to market to your buyer list.

I hope that you choose to see other investors as potential profit centers and not just competition.  I urge you to begin building relationships with other wholesalers today!

________________________________

Brooks Conkle is a world vagabond and outdoor enthusiast that renovates and wholesales properties in Lower Alabama.  He started The Southern Investor to chronicle his business and pass on knowledge to others.

Tags: brooks conkle, real estate wholesaling, the southern investor, wholesaling, wholesaling houses, wholesaling real estate
Posted in Real Estate Investment Buying Strategies, Real Estate Investment Selling Strategies | No Comments »

How a 25 Year Old Kid Closed a 200-Unit Self Storage Deal… No Money Down

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I met an investor recently, Casey Cavell, who is buying 200 to 500-unit self storage buildings without any of his own cash or credit.

He’s using a mix of seller financing and private money to close big deals… no money down. And he’s only 25 years old!

So, I decided to hop on the line with Casey and do a full “whats working now” call where we go into detail exactly what he’s doing to find private lenders, to convert them, and how he’s putting that money to use in his real estate business today.

I do an interview like this every month for my Private Money Monthly (PMM) students.

…  just one of the things included in the PMM program is a monthly interview with someone (no gurus, underground investors you’ve never heard of) who is doing really really well in today’s real estate market.

Self Storage Investor & Entrepreneur Casey Cavell – Inside Interview

Below is a short segment (12 min or so) from my interview with Casey where you’ll learn:

=> How he structured his first self storage deal (over 200 units!) with the seller and private lender

=> Exactly what he was looking for in a good deal – his buying criteria

=> The list broker contact who you can use too to find great deals

=> The 2 things that tipped him off and assured him he was staring at a goldmine

… and more.

Check out this clip from Casey’s interview…

Isn’t that awesome?

Think about it… if a twenty something kid can do 200 plus unit self storage deals without any of his own cash or credit, you can do single family or small multi-family deals, right?

Hope you enjoyed Casey’s interview.

If you have a comment or question, toss it in the comment area.

~ Patrick

Tags: casey cavell, casey cavell self storage, mini storage, mini storage investing, self storage, self storage buildings, self storage deals, self storage investing, self storage investment, self storage investor, self storage investors
Posted in Business Management Systems and Tools, Marketing, Negotiating, Property Management, Real Estate Investment Buying Strategies, Real Estate Investment Financing Strategies | No Comments »