REO investors: how to get banks to drop their price by HALF, I just made over $110k on ONE deal?

by | Indy Anna, Real Estate Investing, Uncategorized

REO investors: how to get banks to drop their price by HALF, I just made over $110k on ONE deal?

First of all, THANK YOU again for making this channel the number one channel for Indiana real estate on YouTube according google analytics and SocialBlade info for BigReia.com.

This is a quick video I made about  a Hero’s experiment…

REO investors: how to get banks to drop their price by HALF, I just made over $110k on ONE deal?

 

Indy Anna Explains:
– A big secret to REO properties and getting banks to give you their REO inventory for less than half of their original price.
– How to use my previous REO class to dominate your local REO market.
– How one of our Heroes just made over $110,000 on one REO deal and how you can do the same thing very part time.

A few things to start with:
– I made a class “19 Ways to Totally Run Your Local REO Market” where I explain REOs are (real estate owned by a bank) and how to dominate your local market. You can watch that class first and it will help, the link is in the description.
– In that class I explained how to set up your Compliance Curve and build a uniquely great relationship with your REO agents and how a Hero made over 40k on one deal.
– That deal came from an calling up the Hero and telling them that if they can get an offer in today the bank will take just about anything.

That made me wonder, how predictable is this? Can you proactively plan on deals like this and if so how long would it take?

Here’s something called the “Accumulate to 38” and this is how to look at REO and almost everything else in your business:
– Imagine you double a penny every day for for 30 days, how much money would you have on the 31st day? Two pennies.
– Now what if you did the same thing except you apply the doubling (that is the rate of return) to the PREVIOUSLY ACCUMULATED amount, so two pennies, then four, then eight, then 16 cents, etc.
– This is called the famous Penny Doubler and on the 31st day many people are shocked to learn just how much money it is, take a guess before I tell you. If you double a penny and compound it everyday how much money do you have on the 31st day?

Answer: on the 31st day ALONE you have over $10.7 million. The difference between have two cents and $10M is the compounding which is applying the return to the accumulation.

Here’s how the math works:

Day 1: $.01
Day 2: $.02
Day 3: $.04
Day 4: $.08
Day 5: $.16
Day 6: $.32
Day 7: $.64
Day 8: $1.28
Day 9: $2.56
Day 10: $5.12
Day 11: $10.24
Day 12: $20.48
Day 13: $40.96
Day 14: $81.92
Day 15: $163.84
Day 16: $327.68
Day 17: $655.36
Day 18: $1,310.72
Day 19: $2,621.44
Day 20: $5,242.88
Day 21: $10,485.76
Day 22: $20,971.52
Day 23: $41,943.04
Day 24: $83,886.08
Day 25: $167,772.16
Day 26: $335,544.32
Day 27: $671,088.64
Day 28: $1,342,177.28
Day 29: $2,684,354.56
Day 30: $5,368,709.12
Day 31: $10,737,418.24

Notice a few things:
– In three days you have 4 cents, the first week you only have 64 cents and it takes more than 10 days to break just $10
– By day 25 you are still only at $160k
– You don’t even break a million until day 28
– Then BAM on day 31 over 10M
– Think about that, it takes 28 days to get to 1M but then just three to get to 10M.
– But you know what happens just a week later on Day 38? You cross a billion. Exactly: 1,374,389,534.72.
– THAT is the power of accumulation

“Accumulate to Day 38” means:
– Whenever you need a ROI based on accumulation of something, whether it is money, effort or anything else… the biggest returns are at the end when you have the most accumulation built up.
– In the same three days that it takes to make 4 cents you can go from one 1M to 10M and in the same week that it takes to make 64 cents you can go from 10M to 1B, but yuo have to keep the accumulation going.
– Nearly everybody will quit because they don’t “Enjoy the Accumulation” and this is big secret to our Heroes performing so well they LOVE the accumulation and if you don’t then you’ll never get very far because you always want to quit.

So what does this have to do with doing REO deals?
– As I went over in my video doing the 19 things takes time and you should commit to at least six months and most people will not keep it up.
– If you commit to building the relationships then amazing things can happen, it is like the Day 38 kind of ROI
– Here are a few examples that have really blown me away

First the three step process:
1.) Connect with the REO brokers in your area and help them in some way. Maybe it is with buyers, sellers, investors, etc. Find a way to help them and be thinking about a 6-9 month relationship plan.
2.) Make offers on any and every deal that they send you. Explain your justification if the price is far from their asking. This way they know why picked the price that you did.
3.) Keep going through the 19 ways from my other video and then wait for “the call” when they have a deal that the bank NEEDS to move (they will give you a wink) and you can get an offer accepted that is half or even a quarter of the asking as long as you can close fast. Also YES you can assign these deals just check out my video on assigning non-assignable and impossible to assign deals.

At first I thought that “The call” was beginners luck or something that only happens every now and then but check these success stories out:
– One of my Indy Anna Bird Dogs started in January and she love her REO team but she never did a deal, none the less she “Enjoyed the Accumulation” and kept helping them and that was it’s own reward. Just now after about 8-9 months she got “The call” and picked up two deals and has net over $70,000 on them total.
– Another Hero started in September of last year and didn’t do an REO deal until June and he made $24,000 on one and now he has done over six deals netting over $150,000.
– In another example Byron from Broad Ripple started in March and got nothing until just now where he will net over $110,000 on ONE deal.

There are many others who started but most of them lost focus, got distracted or let the D-word get to them (discouragement) the one thing these people had in common:
– They all love the relationship building and friendships, the money was just a side benefit
– They all took several months and they were okay with it because they “Enjoyed the Accumulation”
– When it rained, it poured. The accumulation pays off BIG time but you have to enjoy letting it accrue and compound. This is the best example I’ve seen of the Penny Doubler where your results are invisible and then BAM 1M then 10M then 1B.

Okay so that’s why I made this video because I’m super excited and I’ve never had Heroes or Bird Dogs makes this much money so “fast”:
– You really can do this, go through my other video and just follow along and Enjoy the Accumlation
– Remember that you will be immune to competition soon because nobody will build the accumulation that you did.
– Don’t worry about the money just focus on the accumulation and Goodwill you are building.

So to summarize:
– Accumulate to Day 38, meaning keep your previously accumulated efforts, money and other investments continuously growing and compounded and remember the END is where it all happens.
– You must “Enjoy the Accumulation” or you’ll quit, get distracted and/or never start. Everybody enjoys looking good, but only some people trained themselves to enjoy working out.
– I went over the three steps to get the REO Model accumulation started, I also pointed you to my other video on the 19 ways to RULE your REO market.

So that was today’s class it was little bit different but I hope you guys got the point and go out do this correctly because this is the time for opportunity y’all!

Thanks so much! = )

So please check that stuff out guys and also go to BigReia.com and get the best training on social mobility in the world.

Make the Universe Smile.

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Thanks so much!  = )

Make the Universe Smile.

~ Indy Anna
Love (at) BigReia.com
(YES that's my actual Direct Line and I really do answer lol, so please text me first Thx!)

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