Deal FlowDIGEST
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HOT SEAT CHAMP
THE REIGNING, DEFENDING, UNDISPUTED HOT SEAT CHAMPIONS OF THE REAL ESTATE INVESTING WORLD
Champions Don’t Show Up to Get Everything TheyWant. They Show Up to Give Everything They’ve Got.
There are more than 100 different presentations shared across six groups at our quarterly masterminds, and our esteemed members vote to determine who “brought the goods.” These members rocked the house and are our new hot seat champions this quarter. But you know what they say: “You’re not a true champion until you defend your title.”
MIKE SELF
Have you ever heard of the book, “How toWin Friends With Influential People”? Many members agreed that they had, but they were wrong. The book doesn’t exist. This was the whole point of Mike’s presentation. He explained that as a society, we do not listen. We’re never taught how to listen when young, yet it’s one of the most important skills you can have in business, selling, and relationships. Not listening can manifest in many ways, whether that be automatically telling your story in a response to their story, formulating a response before the other person has finished talking, or always turning the conversation toward yourself. But if you believe in caring about and serving other people, you need to learn how to listen. Nothing is more powerful than being able to truly listen to a homeowner sharing their story and their concerns.
The Often Forgotten Ability That Will Improve Your “Appointment to Close” Ratio.
DAVE PAYERCHIN
Dave Payerchin is the co-founding partner of Columbus Turnkey Houses and a licensed Realtor with Boss Realty in Ohio. His three-step process for building an SFR (single family residence) process was incredibly insightful, including howCorevest offers 75% loan-to-value (LTV) based on a blended average of all months of ownership.
But this got very interesting when Dave shared some of the pitfalls, including the following:
How to Find a Great CFOWho’s Recently RetiredWhoWill Basically Build Your Business for You.
Yield maintenance — the repayment penalty that feels like a kick in the gut Lenders who offer a short, five-month window with no penalty, and why it’s critical that you get a longer one How you make your 75% LTV offers turn into 65% of real value due to low appraisals This hot seat then broke into a group conversation as the room shared their expertise when hiring a CFO and making it bankable. One suggestion that nearly everybody in the room scribbled down was to hire a recently retired CFOwho will tell you exactly what you need to do, all while saving a bunch of hiring costs/cash.
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