Interview with our Coach Jason
We interviewed our coach Jason.
Q: Tell us a little about your business and how you got involved with real estate investing coaching…
A: I have been in management for over fifteen years. For the past twelve years, I have been in retail management with guiding over twenty-five team members every day in the retail setting. I have been up and down the corporate ladder always feeling like I was working to better someone else and someone else’s company. So, I decided that was enough and it is time I fight for myself and for my own company. So, I now use my experience of construction management and in retail management, in real estate investing coach business. All of us have our own strengths that we can use to better our own businesses. I use mine in connecting with my clients from my management experiences. Some people have hang-ups not knowing how to deal with certain types of clients (sellers) so I use my strength with being able to identify with most clients and use that to help our new real estate LLC investors and further there understanding of others.
Q: Why Real Estate Sales LLC Coaching program? What are the advantages and disadvantages you see when working with this program…
A: Some of the advantages in working with Real Estate Sales LLC is the freedom with setting your own hours. I like knowing that the hours I do invest into this company are really hours invested into myself. This company gives you all the tools necessary to make your business successful. Having the leads for motivated sellers given to you and buyer leads makes the initial step very feasible at finding properties and buyers for your real estate properties. Each client learns how to gather all the information needed to make an informed estimate both on a price that is fair to the seller and buyer, while still making a profit. Having a step by step process that is given to each client helps set up a structure of learning. This gives our clients an ability to learn the process as to their own strength. One of the best assets in this business is having a coach available to offer advice and insight on subjects that you may need assistance with.
One of the only disadvantages I can see being a coach that has worked through this process myself is the approximate first six to ten weeks are a big uphill learning process and can be very time demanding if there are issues with gathering information etc. on the properties they are looking at. Some areas of the country are just very difficult to find information on properties because of all the different laws with privacy acts. Sometimes if the house information is limited if the home hasn’t had any transactions since the updates became available on the internet.
Q: Tell us about the learning/working process that you go through with each of your new clients.
A: One of the hardest things to learn in this business is the process of getting comparables and then pricing the home in question. It can be daunting to wrap their minds around the idea that sometimes the properties we look at are not anything we could picture ourselves in but this is how we make our income for our business. There’s several steps to learn. IE – learning the price of the properties after all repairs are done. What is the retail price of this property, then deducting all of the repair costs from the property plus making sure to take off profit from the amount to offer the motivated seller for their property. This process is a hard, ongoing process for most to understand or to be able to find all the information necessary to be able to make those numbers work. Oftentimes, this is made more difficult by lack of information available so we must rely on what the current owners can tell us.
The process for most clients in learning that they need to go from ‘Can I picture myself living in the property’ to ‘What am I able to profit from this property’ taking the information that you know as your learning the processes once you are a client of Real Estate Sales LLC will guide your from being the home owner to an owner of a house for profit. The selling it part takes time but when the process starts falling into place all you have to do is just keep spinning the ball. Most clients will really grasp the entire process once they have gone through the all the steps on a property including selling it. Getting the first property completed gives the confidence and understanding on just how the entire process works and will brush the nervousness off their shoulders when the property closes.
Q: What are some of the challenges in Real Estate Investing Market that clients may not be aware of…
A: Some of the challenges in Real Estate Investing Market that clients may not be aware is the definition of the investing market. Meaning that just because its labeled as investment doesn’t mean it’s truly an investment. You have to do your due diligence for the property ensuring that at the asking price you will be profitable to sell to an investor and the investor will also be able to profit. Find out what the ratio for most of the investors in your area meaning at the ARV (after repaired value) of say $100,000 if you purchase the home and fix up the property so you would need to find out what your repair prices are going to be and add up those and the purchase price and all together it totals $70,000. So, at the $70,000 for all repairs and purchase price and the ARV value of $100,000 you’re at a ratio of 70/30 all in. Some investors are 60/40 some 80/20 and so on. Just have to find out the ratios of the clients that you will be working with and then do your work to find a property for them.
Some states in the country have passed privacy laws that make it very difficult to find information on properties including but not limited to square feet, beds, baths, last sold amount, etc.