Getting Started As A RE Investor HANDOUTS

Getting Started As a Real Estate Investor
3 Hour CE Course
Presented by
Carl Schiovone
National Trainer and Performance Coach
(631) 750-1563
CarlSch@optonline.net
www.CarlSchiovone.com
www.EastCoastREIA.net
Copyright 2015 by Carl Schiovone, all rights reserved

Agenda
Getting yourself prepared as an Investor
Development of your Business Plan
Effective goal setting strategies
Networking and marketing
Local and Distant Investing
Assembling your support team
Generating and negotiating your offer
Popular business model highlights
Building your Investor clients
Creating your Action Plan for success
Please help make this course interactive. Ask questions, add your
comments and share your experiences!

Why Should RE Professionals Know This
Stuff?
Skill development increases your credibility

which will lead to more business
opportunities
Advise your Investor Clients properly
Leverage this knowledge so you can

participate as an Investor

What Will Investor Clients Expect From You
as a Real Estate Professional
Leads and many of them!
Provide Market analysis
Find them an end user buyer or renter
Assist in determining a re-sale list price on flip properties (be
cautious here!)
Provide feedback on improvements to make
Competitive rent rates
Negotiate and submit offers
Screen, select, and manage Tenants
Do not provide them legal advice or documents that have not
been approved by your Broker and Attorney

Why Have Investors as Clients?
Audience?
Balance out your client portfolio
Investors will purchase challenging properties
Looking for many transactions
Touch time is much less than retail clients
Active in all market cycles
Can close quickly
Usually all cash
Get referrals or share in commissions when they are
investing out of your market area

Working with Investors
Understand their criteria get it in writing
Verify they are ready to pull the trigger
Proof of funds
Past experience and projects
Some will exercise you without the intent of making an offer
Watch out for Low Ball Investors
Expect follow-up action from them

An offer
Specific feedback why it is not right for them (so you can adjust
your search)
Refer you to another Investor in their network

Where to Find Investor Clients
Real Estate Investment Associations and other investment clubs
go to their meetings (www.National REIA.net)
Real Estate networking events
Live and internet Meet up Groups
BNI groups
Internet searches
Other business meetings
Run an ad
Referrals from industry professionals (Attorneys, CPAs)
Respond to their ads
At Open House events
Ask for referrals from other Investors
Track them down from public records (purchased by)

Why Real Estate Now?
Historical low interest rates
Large inventory many more on the way (Buyers market)
Motivated sellers
Job loss
Negative equity
Bankruptcy
Foreclosures
Many homeowners reverting to renting
Take control of your financial future
Unlimited wealth creation
Poor performance of other paper investments and loss of faith in
corporate America
Copyright 2015 by Carl Schiovone. All rights reserved

Plan for Success or Expect to Fail!
What are the reasons for business failure?
Audience?
Lack of Capital
Lack of systems
Insufficient market knowledge
Lack of goals and future vision
Not responding to changing markets
Lack of experience
Burn-out
Disagreements with partners
Too busy working IN the business and not working ON the
business

A Typical New Investor Failure Mode
Fear Inaction Frustration
Lack of
Knowledge Investment
Confidence mistake or
Plan give up

Getting Prepared to Succeed
Start with your Positive state of mind
Are you ready to do the things most others wont?
Are you hungry for success?
Instant gratification is not possible
Success will come from doing the right things with consistent
action
Never give up!
We must all suffer one of two pains, the

pain of discipline or the pain of regret
Jim Rohn

Surround Yourself with Nurturing and Inspiring
People
Supportive of your goals, vision, and failures
Encourage you to succeed and take risks

Remove the Toxic People From your Influence !
They
-Are Draining
-Are Counter productive to your Goals
-Hold you back
-Why dont you play it safe mentality
Lie Down with the Dogs

and get up with Fleas
Benjamin Franklin
Getting Your Finances Ready
Where is your investment capital coming from?
How much will you have?
The available capital and debt will dictate your direction

and market
Get your personal and business credit cleaned up
Have proof of funds ready to go

Caution: 3rd party POF with approval requirements may
not be considered a cash offer

The Capital Stack
The total amount of
Capital available is Your
$350,000, this is Invest. Capital
your Spend Plan $50,000
Junior Debt or Equity

(2nd mortgage)
$100,000
Senior Debt or Equity

(1st mortgage)
$200,000

Sources of Investment Capital
Savings
Retirement accounts
Self-Directed IRAs (learn about this option)
Hard Money Lenders
Partners (Joint Ventures and Business partners)
Conventional loans
Equity lines of credit
Cross collateralization
Sellers financing

Private Lenders
Can be anyone in your personal or business network with available
capital
Friends and family
SDIRAs very
Neighbors
common here! Align
Other investors
with a Custodian
You create the terms and conditions
Generally the cost of capital is less than a Hard Money Lender
Little to no oversight from lender
Minimal paperwork and requirements
For many with no track history or unable to qualify for typical

financing options, Private lending may be the only option.
Your Credibility is Vital!

Having Goals without a Plan will get you
Stuck in the Mud

Your Business Plan will be your guide!
Why Do You Need One?
Audience?
Documents your business model
Keeps you focused and accountable
Identifies Barriers to Entry and you plan on breakthroughs
Used to connect high level goals to detail tasks
Provides evidence of your expertise
Documents how you plan on mitigating risk
To keep up or lead the competition
To attract partners and capital
Required for business loans (SBA deliverable)

Resistance to Having a Business Plan
Responses I have received
I dont need one, I know what Im doing
Ill write one after I get some deals
Only used by larger companies
Business Plans can be applied to any size or type of
business

Business Plan Content
visit www.SBA.gov for detailed outline
Leverage
Your
Professional
Support Team
for Help!

Roadblocks to Writing a Business Plan
Just start writing!
Update the plan as more details are developed
Dont make it a pretty document that sits on the shelf

collecting dust!
Support team review
All of my coaching clients are required to have one

Solid Skill Set is Critical
Invest in Yourself - Never Stop Learning!
Seminars and Webinars
Real Estate Investment Organizations
College and Adult education
Books
Membership in business and investment groups
Mentors and Coaches
Internet Just doing CE
Credits is not
enough!

Skills Assessment and Development
Plan Section
Skills
You
Have
Skill Development
Plan
Skills
you will
Need

Skills Development Plan
This plan should be tracked on your Master Action List
Skill Shortfall Action Plan

Bookkeeping Sign up for adult education
classes in June
Understanding Section 8 Request a Landlord
housing guidelines package and meet with
Housing Authority
Need to learn how to make Take an on-line course
spreadsheets starting in April

Effective Goal Setting
Without goals, there is no direction and focus
Many people struggle in this area
Goals must be well defined
Failure is not a single, cataclysmic event.

You don't fail overnight. Instead, failure is a
few errors in judgment, repeated every
day.
Jim Rohn

Goal Setting Ground Rules
All Goals Must Pass The SMART Test
Specific
Measureable ($, %, Units)
Attainable
Relevant (also Responsible, Realistic)
Time bound (must have a beginning and an end)
Your goals can be as aggressive as you want
But
Your Business Plan must show you how you plan on getting there,
otherwise it is just a dream!

SMART Goal Examples
Bad Goal Good Goal
I want to save more money I will contribute an additional
3% of my income to my 401K
program until the end of the year.
Bad Goal Good Goal

I want to spend more time with I will block out every Saturday
my kids morning and play golf with my
kids

Flowing Goals Down to the lowest level
Deploying a Property
Management Company
Transfer management to
PM company
Enter into contract
Make final
decision
Each of these
Visit buildings currently blocks can have
under management
several sub-tasks
Visit companies
being considered
Contract review and
due diligence
Make Contact and
request PM information
Search for PM companies
in area
Knowing What to Work on Each Day is Essential!
The Master Action Item Register will help
Make this part of your Standard Work Process
Task Assigned Assigned Req. Status Comments

to Date Completion
Date

Get Your Business Process Based
Develop Standard Operating Procedures (SOPs) for all

repetitive things you do!
Running your front office

Taking a listing
Evaluating a property
Repair checklist
Tenant screening
Due Diligence Checklist

Barriers to Entry
A Barrier to Entry is anything that can prevent you
from being successful
By eliminating all barriers, there are no reasons

why you cant achieve your goals!
Your Business Plan should identify and address all

barriers

Barrier to Entry Example
Do a better example
Your Goal:
You want to invest in student housing in Albany
Barrier to Entry:
You do not have a property management team in Albany
Action Plan:
Work on developing and deploying a team in Albany
The specific tasks should be added to your Master Action Register

Building Your Support System
Have Your Attorney
Team Ready to SBA
go before and
SBDC Title
making offers! Company
Property
Inspectors and
Managers Insurance
Agent
Your
Network
Accountant
Business
Coach Banker and Contractors
Financial
Advisors
Support Team Selection Tips
Make sure they are a good fit for you
Do they understand your business model?
Do they have the bandwidth to service you?
Dont use Uncle Lou just because he is family
Change your support team until you find the right
people to work with
Ideally, your Support Team should also be Investors
Remember, you are interviewing them for a job!

Building Your Network
The most effective tool in your marketing business
strategy
Two types of Networking:
Planned Networking
Attending scheduled meetings and events from
business, personal, community, and educational
organizations
Un-Planned Networking
Running into people you meet during normal activities
Referrals

Attending Networking Event Tips
Arrive early and stay late
Attend frequently
Volunteer to help
Sit with different people
Have plenty of business cards available
Make a number goal of business cards exchanged
Follow-up with contacts made
Be approachable and friendly
Always dress professionally
Each person you meet will have their own network

More Networking Tips
Join your local Real Estate Investment Association
Also join in the area of your targeted investment area
www.NationalREIA.com
Attend real estate and non-real estate events
Join
Business and social organizations
Meet-Up groups
BNI groups
Have your Elevator Speech ready

Speed Networking Exercise
Rules:
Meet as many people as you can and exchange business

cards
The person with the most cards wins
You cant include cards previously received
10 minute limit

Locating Investment Properties
Multiple Listing Services (yes, there are investment deals on
MLS)
FSBO leads (Possible conflict for RE Professionals)
Driving your targeted market areas (vacant and Troubled )
Leads from Wholesalers and other Investors
Your Professional Support Team
From your personal and professional network
Targeted lists (ListSource.com)
Internet sites (Loopnet, Craig's List, Auction.com)
Direct marketing and advertising (limitations if licensed)
Respond to ads from other Investors
We Buy Houses
Bandit Signs

What are the Clues of Seller Motivation?
Audience?
Price dropping quickly
Listing soon to expire
TLC, Handyman, As-Is
Prior deal died (Back on the market- find out why)
Vacant
Sellers Financing
Pending foreclosure
Non-conforming structures
Owners transferred
Divorce
Estate or Bankruptcy sale

Property Viewing
Preparing to Hit the Road
Your Road Kit
GPS Clipboard and pad
Flashlight w/batteries Cooler with food and drinks
Camera Cell Phone w/internet
Tape measure Hand Disinfectant
Property Inspection Checklist Appropriate clothing and
shoes
Face mask Bring someone with you
Lockbox access Gloves

Keeping the Lead Generation Funnel Full
and Never Waste a Good Opportunity!
Lead Lead Flip
2 1
Lead Wholesale
3 Lead
Evaluation
Process
Hold to Rent
Give it to your
network

Be Ready to Pull The Trigger on Your Offer
Have your capital in place and POF
3rd party verses self funding
Contractors readily available to provide estimates
Knowledge or data of the local market to establish the
After Repaired Value or market rents
Dont get left in the dust preparing your offers
Perform your due diligence quickly but completely!

Presenting Offers and Negotiating Strategies
Leave some room to increase your offer if you can
Work price and terms independently
Strive for a win/win offer
Understand the needs of the other side
Never insult parties involved or their home
Dont burn your bridges
Autopsy offers that did not go your way
Keep property on your radar, deals die all the time
Track sold price
Try to get in to see properties you lost in the bid after
they are rehabbed

Recent Negotiation Example
After Closing we allowed the sellers to stay until their Son
finished school at no cost
Provided them money to locate another home
We deleted the broom-swept clause
They let us work on the property while they were still there
We were not the highest offer but we won the house on terms
Make sure you are protected!
Solving challenges gets the deal done!

Recent Negotiation Gone Bad
Another cash buyer submitted a much higher offer than us with
no home inspection
Their offer was accepted
Prior to Contract execution they wanted to do a home inspection
just to see what they are in for
After the inspection, they wanted to reduce their offer by $10K
Sellers said No!
Buyers went back to original higher offer
Sellers still said No!
Sellers accepted our much lower offer
Other buyers very upset
We closed on this!
Lesson learnt Dont re-negotiate an as-is offer!

Selecting Your Investment Location
Local verses Out of the Area Investing?
If you can achieve your financial goals locally, go for it. If you cant,
look elsewhere
Create a Radius around you as your target market area
Out of area investing will allow you to benefit from hot and
emerging markets
Some business models can be more difficult to implement out of the

area

Its Not Just About Location
A good location
Will not overcome bad management or
Tenants
May not stay good
Doesnt always start out good
Will not matter if the numbers dont work
May entice you to overpay
Dont make financial decisions based on

emotion and hype!

Business Model Overview - Hold to Rent
Benefits:
Equity growth
Organic appreciation (by adding value)
Market appreciation
Debt pay down
Cash Flow
Tax credits and deductions
1031 exchange
You will need investment capital and good credit
Risks:
Can loose your capital
Need to buy and sell in the appropriate market
Managing Tenants and Legal issues Fair Housing Laws
This business model will provide long-term financial security!

Why the Rent to Hold Model?
The demand for housing continues to be strong regardless of the
market cycle and economic climate (2014 national Vacancy 4.5%
source REIS report)
Many smaller units below the radar are not being counted
Check with your Realtors and PM companies
Many successful properties in service to purchase
Can be a great way to attract long-term partners or Investors
Easy to finance (if the numbers work)

Single Family Rent to Hold
Benefits:
Low entry point price
Most new investors feel more comfortable with SF
Some feel this is the Place to learn (may not be true)
Easy to sell off in pieces
Risks:
Harder to manage properties all over town
Harder to finance multiple properties (Blanket Mort.)
Must have multiple properties to mitigate vacancy
Hard to add value (determined by the comparison method)

Multi-Family Hold to Rent 5 Units and Up
Higher entry point (lower unit cost)
Easier to manage (all under one roof)
Other units will cover vacancy
Easier to finance than multiple SFH
Commercial loan terms typically 5-15 years
Although most loans are full recourse, property income is critical
Debt Service Coverage Ratio (DSCR) typically requirement is 1.2

DSCR = NOI/Total Debt Service
Sellers are typically Investors setting the stage for creative transactions

Multi-Family Hold to Rent 5 Units and Up
Easier to raise private capital
Earn fees by Sponsoring Projects
Easier for out of area investing
Take advantage of hot and emerging markets
May be hard to find economically feasible properties
locally
Wide price point and type of markets
Value based upon the income it produces
Easier to add value

Buying a Value Add Property
What is it?
A property that is not performing as well as it should be and you
feel you can improve the financial performance
There is great upside opportunity when purchasing Value Add
properties!
Issues to Address Additional Income Opportunities
Rent rates that are below
market level Add a Laundry
Vacancy is too high Charge for parking
Turn-over is too high Charge for Storage
Expenses out of control Cell Tower
Past due rents Signage
Out of control Tenants
Poor physical condition
(Organic Appreciation)

Capitalization Rate (Cap Rate)
The Cap Rate is used to measure the relationship between the Net
Operating Income and the property sales price or value, it is also
used as a gross indicator to evaluate investment risk.
The lower the Cap rate, the lower the perceived risk
The Cap Rate is expressed as a percentage as follows:
Cap Rate = Net Operating Income (NOI) / Value
By transposing this equation, you can also determine the value of a

property
Value = NOI / Cap Rate
NOI = all operational expenses less debt

Value Add Example
Before Financial Improvement efforts

$300,000 (Value of Property) = $30,000 (NOI) /10% (Cap Rate)
Assumption: $5,000 increase in your NOI

After Financial Improvement Efforts
$350,000 (Value of Property) = $35,000 (NOI) / 10% (Cap Rate)
With a $5,000 annual improvement in the property performance you

get a $50,000 increase in the value of the property!
This is Why MF is so popular with Real Estate Investors!

Hold to Rent Sub-Models to Consider
Class A to D markets
Student Rentals
SROs (Single Room Occupancy)
Vacation Rentals
Rent subsidized programs
Section 8
Other government programs
Retail/mixed use
Office/warehouse
Industrial/commercial

Tenant and Property Management Options
Self-Managed
Do you have the time?
Do have the skill and process?
Do you understand Fair Housing Law?
Local verses remote management
Sales Representative
On your payroll to manage properties (may not need RE License)
Hire a Property Manager
Property Management Company
Real Estate Broker
Make sure they are legal and insured

Property Management Resources
IREM (Institute of Real Estate Management)

CCIM (Certified Commercial Investment Members)
CRB (Council of Real Estate Broker Managers)
Other Investor recommendations
Have backup options
Your role is now managing the Manager!

Getting the Unit Ready for Service
How far to take improvements

Change your Flip reference
Market based
Clean
Safe
Reliable
Functioning
Remove any safety hazards
Add smoke and Carbon Monoxide detectors per code
Apply for your Renters permit if required
Get minimum housing requirements from town

Dont Over Improve.
Keep It Clean, Safe, and Simple!

Elements Affecting Cash Flow
Expenses
Debt service (mortgage)
Management (4-14% of collected rents)
Utilities and service contacts (try to have Tenant pay
these)
Insurance (watch out for flood insurance areas)
Taxes
Permitting
Repairs and improvements
Turnover costs
Legal, accounting, and payroll

Tenant Turn Over Cost
The cost incurred from when a tenant moves out to
when a new tenant moves in
Number one cost after debt service
Tenant Turn-Over impact includes:
Insurance implications (they dont like vacant homes)
Loss of rent while vacant
Repair and replacement costs
Realtor or marketing costs to get a new tenant
Maintenance and utilities
Security
Vandalism

Keeping Tenant Turn-Over Low
Effective tenant screening process
It starts with you being the right kind of Landlord
Say What you Do, Do What You Say
Provide tenants with clean, reliable, and safe housing (better

than your competition)
Respond and resolve their complaints and concerns quickly
Rents at or below market rate (can affect property value)
Respect them for the Gold they are to you
Understand why they want to leave and try to solve their issue

Tenant Conflict
Address problems quickly and firmly
Document issues and discussions
Dont loose your cool
Operate within the law (many new Investors have a problem here)
Try to work problems out
Get the assistance of case workers if applicable
Set the tone early in the relationship
Be companionate to their challenges
If they have gone Stale get them out fast
Dont renew or terminate lease
Pay them to leave
Eviction

Purchasing an Occupied Property
Advantages
May be helpful or required for financing
No start up delays
Earn immediate Cash Flow
Disadvantages
Are the tenants performing well? the current owner
will say of course they are!
You may have to honor existing Leases
Are the rent rates and terms where you want them?
You may be paying a higher price for these properties
May not be convenient to make improvements
Make sure you complete a comprehensive due diligence
review

Risk Mitigation Strategies
Be a Defensive Investor
Get your equity going into the property
Have a Bullet-Proof Lease

Dont select tenants to just fill units
Properly insured with a Landlord and Renters policy
Have Capital Reserves to cover vacancy
Have solid cash flow
Deploy an effective asset protection plan
Dont consider non-conforming apartments
One phone call to the town and your done!
Increased liability exposure

Risk Mitigation Strategies
Use conservative occupancy, resale price, and rent rates when
doing initial evaluations
Always plan for Property Management fees
Plan for expected cost growth
Does the property make sense in the most conservative usage

(Student housing vs. single family)
Know your deal acceptance criteria and stick to it
Purchase in Easy Rental areas

Have an exit strategy before getting into a deal
Having walk-in equity helps to ensure this!

Business Model Overview -Wholesaling
Locate Enter into Assign Receive
Assignment
Property Contract Contract Fee
You enter into contract to purchase

You locate a new buyer and assumes the terms and conditions of the
contract
You earn an Assignment Fee when the sale closes Title (this is not a
commission you have a beneficial interest in the property)
Always push for the Assignment Clause to remain in the Contract
Have provisions in the Contract for getting back into the property
An Assignment Agreement protects your interest make sure your
Attorney generates this
Proof of Funds may be required to enter into Contract
Great place for novice Investors to begin and raise capital

Wholesaling
Risks:
You still need to know what a good opportunity looks like!
If you cant find a buyer an escape clause in contract is essential
Use the Reverse Wholesaling Strategy

Secure solid Investors first and locate what they want
Seller may need to approve or be notified of an assignment
With Short Sales, many banks will not allow an assignment (but
there are legal ways to overcome this)
Loss of time looking for potential properties

Property Flipping
Very Popular Right Now!
Turning This
Into This!
And Make A Profit!

Property Flipping
Purchasing a property and reselling it to another Investor or end user
In most cases improvements will be made
Great option for generating transactional income
What is the Draw to this Business Model?

Opportunity to generate outstanding investment returns
You can determine how much money you want to make
No Tenants or fair housing laws in managing Tenants
A sense of accomplishment bringing life to depressed properties
The market is well positioned with inventory
Reality TV Shows telling you how easy it is!
NOT!

Property
Search
Contract Property
Closing Eval.
Overview of the
Flip Cycle
Prepare
Marketing Submit
offer
Property Contract
Rehab Closing

The Elements of Your Offer
Calculating the Maximum Allowable Offer (MAO)
After Repaired Value (ARV) (high risk factor)
- Holding Costs
- Closing Costs (two of them)
- Profit
- Rehab Costs (high risk factor)
- Marketing Costs and Commissions
= MAO
Reduce your MAO further to allow for some negotiation
In some cases, you may not be able to do this

Maximum Allowable Offer Example
$350,000 ARV
-$12,000 Holding Costs (based on hold time)
-$6,000 Closing Costs
-$35,000 Profit
-$80,000 Rehab Costs
-$14,000 Commissions
= $203,000 MAO
Going through this with Agents can overcome your offer Shock!

Establishing Your Rehab Budget
This is the area where things can go seriously wrong!
Help from your Contractors

Get estimates (a few of them) Some may charge you
Contractors can also assist you in design and layout
options
Having layouts priced utilize home improvement store
services
Leverage from prior project costs

Establishing Your Rehab Budget
Have a Standard Price list
Small, medium, large kitchen
Roof replacement by model
Cabinets (per foot)
Countertops (per square foot)
Appliances
Electric upgrades
Note: your Standard Price List may have a
few levels based upon the various markets
you are in.

Developing Your Contractors Statement Of Work
Lists the work scope you want to have quoted
Break it down to logical tasks
Add any expectations (start date, schedule, debris
removal, etc)
Have it itemized
Makes it easier to compare quotes
You know how much to subtract if you decide not to
do the specific task

Selecting and Working With Contractors
Use recommendations
Conduct your Due Diligence
Make sure they are licensed and insured contact local
townships and speak to the Inspectors
Check references
Contact local government and the Consumer Protection Agency
for complaints
Conduct an internet search
Use Contractors who are members of national trade
organizations (like NARI)
Make sure the contract clearly defines the work scope, start date,
payment schedule, and cost contingencies

Plan for Surprises!
oHave reserves in your budget (10 20%)
oMake sure the capital is available
oUtilize store credit cards and lines of credit
oGet all of your demo done as soon as possible

What are Todays Buyers Looking for?
Audience?
Open floor plan
Hardwood floors (not laminated)
Large Master bedroom with bath
Large kitchen
Good counter space (granite or marble)
Stainless Steel appliances
Natural light
Solid school district
Equity
Gas heat
They dont want to do any work!
Air Conditioning

Business Model Highlights - Birddog
You locate properties for Investors
You get compensated if they purchase the property
No capital or credit necessary
You can get good experience working with Investors
You still need to know what a good deal looks like!
Risks:
The loss of time invested with your research
Legal issues, many are not doing it right
Check with your State Department for local requirements
Have a written agreement in place with your Investors

Business Model Highlights
Blended Models
Hold to Equity
Resale
Rent Growth
Purchase Rehab Rent
Purchase Rehab Sell

What Business Model Is Right For You?
Factors to Consider:
Time
Capital available
Skill
Interest
Current market climate
Investment goals
Risk tolerance level

Leverage the Knowledge of Your Network
Dont re-invent
Be open to others feedback
Invest in the right guidance
Bring on your Professional Support Team early in
your development or expansion
Doing it right the first time will save you time, money,
and even keep you out of trouble
The cost to cure is always higher after the damage is
done!

Suggested Action Plans
Complete the on-line SBA tutorial on Business Plans, SBA
Loans, and other business topics (www.SBA.Gov)
Meet with the Small Business Development Center near
you (www.SBDC.Gov)
Create a your Business Plan draft
Start writing and it will evolve
Development of your SMART goals
Work with your Business Coaches, Support Team, and
Mentors
Work the plan

Suggested Action Plans
Develop your investment capital spend plan
Address any credit issues you may have
Implement your networking and marketing plan and
follow-up with contacts made
Establish your investment criteria
Start evaluating properties and making offers
Join and attend your local REIA and other business
organizations
Put together your educational development plan
Consider operating as a Buyers Agent (make sure you are
protected with an agreement)

Resource List
Small Business Administration
www.SBA.Gov/Index.HTML
Click Free On-line training
Americas Small Business Development Centers

www.ASBDC-US.Org
National REIA
www.NationalREIA.com
East Coast REIA

WWW.EastCoastREIA.net

In Conclusion
This is a great time to change your life. Accept the
challenge!
Thank You and Wishing You the Best of Success!
Please make sure to fill out the feedback form, your

input is very important
If you would like to see more advanced investing

courses offered, please mention that.

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Getting Started As a Real Estate Investor

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Skill development increases your credibility

Advise your Investor Clients properly

Leverage this knowledge so you can

Copyright 2015 by Carl Schiovone, all rights reserved

Copyright 2015 by Carl Schiovone, all rights reserved

Copyright 2015 by Carl Schiovone, all rights reserved

Expect follow-up action from them

Copyright 2015 by Carl Schiovone, all rights reserved

Copyright 2015 by Carl Schiovone, all rights reserved

Copyright 2015 by Carl Schiovone. All rights reserved

Copyright 2015 by Carl Schiovone. All rights reserved

Fear Inaction Frustration

Copyright 2015 by Carl Schiovone. All rights reserved

We must all suffer one of two pains, the

Copyright 2015 by Carl Schiovone, all rights reserved

Copyright 2015 by Carl Schiovone. All rights reserved

Lie Down with the Dogs

How much will you have?

The available capital and debt will dictate your direction

Get your personal and business credit cleaned up

Have proof of funds ready to go

Copyright 2015 by Carl Schiovone. All rights reserved

Junior Debt or Equity

Senior Debt or Equity

Copyright 2015 by Carl Schiovone. All rights reserved

Copyright 2015 by Carl Schiovone. All rights reserved

For many with no track history or unable to qualify for typical

Copyright 2015 by Carl Schiovone. All rights reserved

Copyright 2015 by Carl Schiovone. All rights reserved

Copyright 2015 by Carl Schiovone. All rights reserved

Copyright 2015 by Carl Schiovone. All rights reserved

Copyright 2015 by Carl Schiovone. All rights reserved

Update the plan as more details are developed

Dont make it a pretty document that sits on the shelf

Support team review

All of my coaching clients are required to have one

Copyright 2015 by Carl Schiovone. All rights reserved

Copyright 2015 by Carl Schiovone. All rights reserved

Copyright 2015 by Carl Schiovone. All rights reserved

Skill Shortfall Action Plan

Copyright 2015 by Carl Schiovone. All rights reserved

Many people struggle in this area

Goals must be well defined

Failure is not a single, cataclysmic event.

Copyright 2015 by Carl Schiovone, all rights reserved

Copyright 2015 by Carl Schiovone, all rights reserved

Bad Goal Good Goal

Copyright 2015 by Carl Schiovone, all rights reserved

Enter into contract

Task Assigned Assigned Req. Status Comments

Copyright 2015 by Carl Schiovone, all rights reserved

Develop Standard Operating Procedures (SOPs) for all

Running your front office

Copyright 2015 by Carl Schiovone, all rights reserved

By eliminating all barriers, there are no reasons

Your Business Plan should identify and address all

Copyright 2015 by Carl Schiovone, all rights reserved

Copyright 2015 by Carl Schiovone. All rights reserved

Remember, you are interviewing them for a job!

Two types of Networking: