Bob Burns’ blog

For the last several years I have been attending the local chapter called Greater Miami Real Estate Exchangers GMREE meeting every Tuesday morning at 9:00 at the Piccadilly Rest. ARCH CREEK SHOPPING CENTER, 13250 BISCAYNE BLVD., N. MIAMI, FL   33181.   You say, Yeah so what?  The reason I am discussing this tiny club is that it contains some of the smartest Real Estate Mentors in Miami, Florida.

The idea behind the GMREE is to buy/sell real estate without exchanging any CASH!  Yeah, you heard me without CASH.  It is like a 1031 exchange on steroids.  Negotiations are based on TERMS rather than CASH.  Like...Parcels for Buildings, Buildings for Land, Yachts for Houses, Cars for a Single Family Home,  Warehouse for jewels, etc.  No cash or very little cash will exchange hands during the transaction.  The Buying and the Selling occurrs using a Matrix displayed on an Excel Spreadsheet or overhead.   Bids are submitted on a piece of paper and placed onto the Matrix and a copy goes to owner of the asset. It is a little more complex than what I described here but you'll get the idea. It can get very creative due to the fact financing is no longer an issue.

If you are confused, you can come to the state meeting Florida Real Estate Marketing Association FREMA and watch the MATRIX in action.   There is an all day FREMA meeting Monday, June 8th, 2009 at 9:00 AM EST at the Pallacio Hotel, 4900 Powerline Road, Fort Lauderdale, FL 33309.  If you can't make it, don't worry, they have one every 2-3 months.

I provide a small video from GMREE Tueday's meeting:

This web site www.blowoutproperties.com allows you to sign up for boot camps occurring all over the country Miami Fort Lauderdale Atlanta Las Vegas Orlando. They provide Bank Owned properties, single family homes, at highly discounted prices.

What I like is that they provide a Turnkey solution for investors or first time home buyers. They provide funding rehabbing services and property inventories all over the nation.

Some of the many benefits my associates and MREIA members receive are the experience we offer them and because of the networking, the benefit of everyone else’s experience.

If you are a newbie (new to real estate) having someone, a mentor, to ask questions is a blessing.  I am always saying – “Look at all the mistakes I can tell you about and how to avoid them while pursuing a deal or making a purchase.” 

One of the things as a Newbie, that took me a while to grasp, was creating a business entity and team building to help achieve our objectives, reduce mistakes and limit risk.

Below is a brief outline of items you should address to help you get started in your real estate investment career or hobby:

• Before you Start Looking for Deals
• Make sure EVERYTHING IS IN WRITING.
• Join a Real Estate Investors Association REIA.
• Miami Real Estate Investor Association MREIA
• Open a Corporation
• Create Articles of Incorporation
• Identify corporate Officers: President, Treasurer, Secretary, etc.
• Need to declare number of outstanding shares and price per share.
• Buy/Sell Agreement or Share Ownership Agreement.
• Want the ability to move shares when board of directors change.
• Make sure you have a Shotgun Clause.
• Dictates that if you are in a partnership and the partners want to get rid of you, you have to be bought out.
• Company Seal
• Meeting Book
• TAX ID # or EIN #
• Print up Your Business Cards
• Business Bank Account
• Documents Needed to Open an Account
• Drivers License with Photo
• Articles of Incorporation
• Certificate of Status
• EIN #
• Signatures of Corporate Officers
• Bank Stamp for Deposits
• Build Your Team
• Real Estate Accountant
• Real Estate Attorney
• Business Plan
• Attend Conventions
• Develop A System

Next Step: Finding a Deal

Don't Talk About, Be About it!

Bob Burns

Section 8 Townhouse Rental at 2917 SE 15th Terrace, Homestead, Florida 33035.  This almost brand

new town home is located near HomeDepot, Walmart and Prime Outlets (Gap, Nike). Last STOP before the Florida

Keys. Contact Agent Alex at 305-303-5173

I do teleconferences and webinars to disseminate real estate advice, promote products, services and properties or fire people up for the Miami Real Estate Investor Association MREIA monthly meeting www.miamireia.com.  The idea is to promote these events to maximize the number of participants and maintain them throughout the event. Dropped calls mean a less successful promotion or educational event.

I am still learning but here are a few things to consider if you are planning to implement one in the near future:  

• Use an 800 number to allow your potential clients to dial-In.  Toll FREE Baby!
  
• Present before, throughout and after the call an URL of a landing or squeeze page to order product, services or get additional information.
  
• Display or mention an 800 number for people who are on the teleconference or webinar event:
  
  • In case they are traveling and don't have access to the internet.
  • Don't like entering their Credit Card # over the internet.
  • Technical difficulties like a server crashing due to sudden traffic.
  • Problems with PayPal.
  • Customer needs additional information and wants to speak with someone human.
    
• Consider how long your presentations are going to be.  Cell phone batteries are good for an hour or so.
  
• Make sure there is a list of the people who registered for the event and participated on the webinar or teleconference call containing their contact information like email, telephone, cell, etc.
  
• Implement a follow up process after the presentation is over to capture additional sales or answer questions the next morning.  You may want to outsource this!  Contact me if you want additional information about this.
  
• Offer a replay and make sure there are a landing page and an 800 number with live people if they decide to order after reviewing the replay.
  
  • This means you must have a system to record the live event.
    
• Do you have a system in place for marketers with contact lists to joint venture (JV's) your event?  The more the MERRY!
  
• How are you going to promote the teleconference or webinar? Email, Websites, Landing Pages, Video, etc.
  
• Offer incentives like: gas card, free membership to MREIA, etc. for all participants. An ethical BRIBE!

Bob Burns
www.investmentpropertiesmiamiflorida.com
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