Fitting the pieces together


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*Discover the secrets of investing successfully in today's market.

*Learn strategies to take advantage of the market, pricing, and funding option.

*Understand your objectives and build a plan for future investing in success

* Keys to removing your concerns or fears blocking your from building wealth now

*Understanding the role of Risk vs Reward in real estate investing

* Invest in Real Estate with Accuracy and profitabiltiy

* Get answers to your questions that make sense today and in the future!

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Fitting the pieces together

  1. 1. Fitting The Pieces Together<br />Dawn Houlf<br />
  2. 2. Thank You<br />Special thanks to Alan Rivera and Irina Higgs<br />for allowing us to use their property.<br />The property is for rent for just $750 per month.<br />If you, or someone you know may be interested, please see me for details.<br />
  3. 3. INTRODUCTIONDawn Houlf<br /><ul><li>Moved to Las Vegas in 1978
  4. 4. Purchased my first property at 20 yrs old
  5. 5. Self employed since 1998
  6. 6. Built an Empire in 3 states
  7. 7. Single, no kids, 3 golden retrievers (Copper, Sadie and Simba)
  8. 8. Over 20 years sales experience, negotiating, marketingand customer service
  9. 9. Built a personal portfolio which includes: single family,multi-family and commercial/industrial </li></li></ul><li>5 IMPORTANT PUZZLE PIECES TO PLATEAUS TO SUCCESS!<br />Discussion Item One – The Benefits of Investing in Real Estate<br />1<br />Discussion Item Two – How to Create a Plan of Action<br />2<br />Discussion Item Three – How to Analyze Property Worksheet<br />3<br />Discussion Item Four – Learn About TheTax Advantages<br />4<br />Discussion Item Five – Learn About VariousOptions in Lending<br />5<br />
  10. 10. Benefits of Investing in Real Estate<br />
  11. 11. Most people spend their time and money developing the left half of the KASH box.<br />Most business failures are due to the right half of the KASH box.<br />KASH<br />
  12. 12. FEEDBACK<br />Ask yourself these questions:<br /><ul><li>What do I bring to the table? Money, time, resources, etc.
  13. 13. What are my strengths?
  14. 14. What are my weaknesses?
  15. 15. What can I improve on?
  16. 16. What am I willing to sacrifice to attain my goals? TV, etc.</li></ul>Ask others: (Interview business professionals and entrepreneurs)<br /><ul><li>What makes them successful?
  17. 17. How did they do it?
  18. 18. What worked for them?</li></li></ul><li>COMMITMENT<br /><ul><li>Once developed, the key to making the plan work is a commitment to seeing it throughcoupled with sound implementation.
  19. 19. The commitment to not only creating a sound strategic plan, but to its full implementation must be made at the beginning of the planning process.
  20. 20. The business plan will contain an action plan that will detail the steps to be taken in order to fully implement the plan and tactics defined. That action plan will have specificdeadlines and individuals or teams responsible forcompleting defined tasks.</li></li></ul><li>STEP ONE<br />The Business Plan<br />Why is it important to write a business plan?<br /><ul><li>A business plan sets out the future strategy and financial development of a business, usually covering a period of several years.
  21. 21. A business plan is a written document describing the nature of the business, the sales and marketing strategy, and the financial background.
  22. 22. A business plan is a formal statement of a set of business goals, the reasons why they are believed attainable, and the plan for reaching those goals.
  23. 23. Having well defined goals, objectives, strategies and tactics reduces the risk of business failure and helps increase the likelihood of solid success. Be specific!</li></li></ul><li><ul><li>Business Operations</li></ul>A business plan will outline of all aspects of how a business will operate. Initially, these plans are meant to obtain capitol and in the long term, will be…<br /><ul><li> Business Goals</li></ul>A Business plan is a written document describing in detail how a new business is going to achieve its goals.<br />A business plan will layout a written plan from a marketing, financial and …<br />CONTENT<br />What goes in your business plan?<br />
  24. 24. The Executive Summary<br />1.0 Executive Summary<br />Brief but comprehensive synopsis of a business plan or an investment proposal,which highlights its key points and is generally adapted for the external audience.<br />
  25. 25. Remember the 5 “W”s Who, What, When, Where and Why!<br />Who? <br /> Are you going to have partners? If, so make sure you have a description of who is going to what in writing and have each partner sign it. No Confusion.<br />What? <br /> SFH, Condos, Townhouses, Commercial, Industrial, Duplexes, Four Plexes, etc. <br />Where? <br /> Are you going to put all your eggs in one basket, Las Vegas, or do you have a bigger picture?<br />When? <br /> When are you going to spring into action and make it come true?<br />How? <br /> How are you going to achieve it?<br />
  26. 26. The Goal is to Create…<br /><ul><li>Money $$$
  27. 27. Travel
  28. 28. Vacations
  29. 29. Time with Family & Friends
  30. 30. Charities / Foundations
  31. 31. Retirement</li></li></ul><li>Why is it important to have an entity?<br /><ul><li>Limited Liability
  32. 32. S Corporation
  33. 33. C Corporation
  34. 34. Many Others</li></ul>ENTITY STRUCTURING<br />2.0 Organization of Your Company. Have a meeting with your Attorney or CPA for advice on how to set up and which entity is right for you.<br />
  35. 35. START UP CAPITAL<br />3.0 SHOW ME THE MONEY!<br />Organization of entity and fees<br />Purchase of supplies and equipment (paper, computer, printer, etc) <br /> Purchase of property<br />Cost of repairs<br />Purchase of appliances if needed<br />Purchase Marketing Material<br />Insurance<br />Business Cards<br />Closing cost<br />Misc<br />How much money is required to begin?<br />Where will the money come from?<br />Loan<br />Borrow<br />Hock<br />Partnership<br />
  37. 37. Goals & Objectives<br />goals<br />objectives<br />Definition:Objectives are clear, realistic, specific, measurable, and time-limited, statements of action which when completed will move towards goal achievement. Objectives tell how to meet a goal.<br />Generally, there are two types of objectives:<br />Outcome Objectives- address ends to be obtained<br />Process Objectives- specify the means to achieve the outcome objectives (some sources call these “action” objectives,some call them activities to accomplish)<br />Definition:Goals describe future expected outcomes, and provide programmatic direction. They focus on ends rather than means.<br />Example 1:Will have purchased<br />First property end of 2nd Quarter.<br />Example 2:Will have it rehabbed <br />and rented by April 30, 2011<br />
  38. 38. Are You on Track?<br />Total Amount Needed for Retirement<br />
  39. 39. Information obtained from sources other than Broker that are deemed accurate, but have not been verified by Broker Information is subject to change. All interested persons should seek independent legal counsel and or tax advise.<br />Short Sale vs. Foreclosure<br />What you need to know!<br />
  40. 40. The Buying Process<br />Initial consultation<br /><ul><li>Define agency relationship
  41. 41. Determine needs and wants
  42. 42. Discuss financial qualifications
  43. 43. Fill out worksheet</li></ul>Loan Qualification<br /><ul><li>Discuss Financial resources
  44. 44. Obtain pre-qualification letter</li></ul>Home Shopping<br /><ul><li>Tour properties that you consider an “ideal” home while learning about current market values.</li></ul>Find “Ideal” Home & Make Offer<br /><ul><li>Discuss appropriate strategies with agent
  45. 45. Make reasonable offer
  46. 46. Review blank contract
  47. 47. Prepare money deposit.</li></ul>Present & Negotiate Offer<br /><ul><li>Let your agent negotiate and make the offer at the best prices possible.</li></ul>Inspection & Disclosures<br /><ul><li>Buyers approval of Transfer
  48. 48. Disclosures Statement, Preliminary Title Report
  49. 49. Physical & Post Inspections</li></ul>Submit Loan Application<br /><ul><li>Application to the lender with all necessary documents.</li></ul>Open Escrow<br /><ul><li>Escrow officer will order Preliminary Title Report and send copies.</li></ul>Underwriting & Appraisal<br /><ul><li>Underwriter reviews files for acceptance.
  50. 50. Appraiser gives value of home</li></ul>Review Title<br /><ul><li>All title documents are searched and reviewed.</li></ul>Renegotiate Price<br /><ul><li>If critical issues are discovered during due diligence, renegotiate the price!</li></ul>Loan Commitment<br /><ul><li>Loan is approved</li></ul>Remove Contingencies<br />Homeowners Insurance<br /><ul><li>Select insurance company & coverage, then give insurance agent escrow information.</li></ul>Sign Documents<br /><ul><li>Loan documents will go to the Title Company.
  51. 51. Sign loan documents and closing cost documents.</li></ul>Down Payment/Loan Funding<br /><ul><li>Lender sends funds to Title Company</li></ul>Record Transfer Title<br />& Close of Escrow<br /><ul><li>Deed is recorded by County Recorder office
  52. 52. Get keys to your new home!</li></li></ul><li>LIFEof an<br />ESCROW<br />
  53. 53.
  54. 54. Workshop Review<br /><ul><li>The Benefits of Investing in Real Estate
  55. 55. Plan of Action
  56. 56. Property Analysis
  57. 57. The Tax Advantages
  58. 58. Options in Lending</li></li></ul><li>Thank You<br />I hope you received a wealth of valuable information to get you on your way to financial freedom.<br />My 1-on-1 Mentorship Program is availablefor those who are ready to take the next step.<br />Offered today for just $750 A savings of $250<br />Some of the Benefits Include:<br />Onsite Evaluation of Property<br />Springing Your Plan into Action<br />Funding & Documentation<br />Property Management<br />Bookkeeping<br />Daily Operations<br />Cash Flow Analysis<br />And lots more!!!<br />Dawn Houlf<br />702.236.6266<br /><br /><br />9680 W. Tropicana Ave., Ste. 110<br />Las Vegas, Nevada 89147<br />