How Real Estate Agents Thrive During A Crash


in this video you’re not only going to
learn how to survive during a real estate recession or crash but how to
thrive hey what’s up guys this is Steve with SteveInvests.com I’m a real estate
broker here in Southwest Florida as well real estate investor and today we’re
going to be talking about three different ways to again not only survive
during a real estate recession or crash but how to thrive number one we’re going
to be talking about short sales number two we’re going to be talking about
rentals and number three we’re going to be talking about Bank assets now before
we get into the three ways to make money during a real estate recession or crash
we need to take a step back and actually learn more about the history of real
estate cycles alright so you guys can alright guys number one on the list are
short sales the last real estate market crash this is one of the primary ways
that we really thrived in our real estate business we aggressively went
after people who were delinquent and paying their mortgage one of the prime
ways that we went and marketed to these people work through the
Clerk of Courts websites which would show it’s called a Lis
Pendens and that
just means it’s a pending lawsuit for foreclosure and now it was a very
difficult time because you’re meeting with people who essentially are losing
their homes and it was extremely rough but also it was very rewarding because
we help these people avoid foreclosure which you know on your on your credit
report everything else there’s a lot of advantages of doing a short sale and I’m
not going to get into those details but I will have another video on this
basically exactly how to go about listing short sales with the short sales
you can get on the property appraiser site you pull up the Lis
Pendens
now you can mail these people you can knock on their doors we used to do
bandit signs we put small ads and newspapers we ran Facebook ads for this
as well and we were one of the top or short sale listing companies in Lee
County anyway in southwest florida and we we sold a ton of them this is one of
the ways that you can really thrive you or you and your team when the market
starts to flatten out or crashed alright number two get into listing properties
for rent now I know you’re like oh man I don’t want to deal with a leaky toilet
and deal with phone calls at all point in the night and everything else that’s
fine you don’t have to worry about it another way you could do this is through
what we call a tenant placement all right now a tenant placement you first
off you want to make sure that you can do this strategy in your area your state
and so forth but basically what we would do is we didn’t do management we just
did tenant placement so all rent payments security deposits and so forth they were
paid directly to the owner we usually collected first last and
security or if it was just first and security our payment to our company was
always the first month’s rent so we would always get paid first month’s rent
in that same contract we would also sure if the tenant did buy the property
that we were in secured to get a real estate commission also if we had to
basically re-up the contract for the for another 12 months we do a half
months rent it was extremely successful for us it was another way to keep our
head above water and and really thrived during the real estate recession that we
had in 2008 another key thing to think about too is a lot of these people you
know I think the average time is like three years that an investor’s gonna
hold a property wound-up listing their properties with us for sale so we really
made out over the years by catering to this market again I’ll do another video
on this is well work we’re gonna break down exactly how to go about getting
these properties for for lease listings anyway for us right number three and
probably one of the more difficult because I think it’s highly competitive
is going after bank assets Bank assets can be incredible because if you do a
great job they will just give you a bunch of inventory to get up and get out
there and list there’s a lot of work a lot of times there’s a lot of from money
I know with all the properties that we listed for it was a company called
Brighton that we listed for their assets and we would have to get in there we’d
have to do have our guys go in do all the trash outs if there was open pools
we’d have to have them build cages over these pools all the utilities went into
our names so we really take full responsibility of these properties and
that’s what you’re gonna have to do so you might have to have some deep pockets
or bring in another partner your your broker to basically help you out in
listing Bank assets they can be very time-consuming you you know you’re going
to be required to probably do weekly visits and also take photos time-stamped
photos just so the asset manager understands and knows that you have
then on premise last week the week before and so forth they can be a little
dangerous too because you don’t you know for your first inspection you know you
don’t know you’re gonna walk into if the owners still there if there’s a squatter
in place so you got to be real careful about going about getting bank assets
again I’m gonna do another complete video on this in terms of really how to
go about getting bank assets but one of the number ways that number one ways
that’s effective and efficient is calling these asset managers if you have
any small banks in your area you may want to go and knock on the doors build
these relationships with some of the the upper management or even if they do
have an on-site bank asset manager take these people out to lunch if you can and
just stay in front of them you have to make these calls weekly and get in front
of these people to show that you guys are hungry and you have the not just the
skill set or expertise to sell these properties because they sell quick I
mean they’re all at a discounted price but you have to convey that you have the
team in place and you also have the financial capability to take on you know
multiple assets at a time I think at one point in time we took on I want to say
like ten at really one time within one week and it was crazy but you know
they’re comfortable and confident with your abilities you know it can be
extremely rewarding now I’m going to get into more details on all three of those
options so you guys kind of have kind of a step-by-step breakdown exactly from
how to market to these group of sellers or landlords and bring you through the
entire marketing process and hopefully you got something out of this if you did
I appreciate if you go ahead and hit the

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