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