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CONTACT WALTER

559 S. Washington Ave., Kankakee,IL 60901

P.815.929.9258 P.815.929.9200

walter@waltersanford.com

Walter, thanks for speaking in front of Exit Realty Florida last month. It was great stuff and my agents really appreciated you, your presentation, and your books and tapes. Thanks for an enlightening day! Steve Marabel, EXIT Realty All Stars

READ WHAT OTHERS SAY

A Common Request from a New Investor July 31st, 2013 | Posted in General Real Estate

Many have watched how I used my real estate career as a stepping stone into my real estate investing business.  To this day, I still purchase properties so the tenants can amortize the loan with no out of pocket cost to me after taxes.  I am able to hold on during the bad times and cash flow with equity increases in the good times. 

Below are some questions from a real estate investor who is just beginning and my response to his questions:

Question:

Hi, Walter!  I’ve purchased your products in the past.  My question is in regards to buying investment properties for our own retirement. Starting from scratch, would you invest in SFR, Condos, 1 to 4 units, 5 units and above? Would you stay away from HOA’s or does that matter to you? Commercial property?

Also, I live in Southern California and prices are high…and getting higher.  Would you invest in another state and have someone manage it for you or keep your investments near you?  Thanks for your advice, it’s always been helpful.

 

Answer:

I don’t care so much as to the vehicle.  On the bad side, condos have H.O. dues, 5 or more units have less advantageous financing, and commercial has a propensity for higher vacancy factors.  That being said — price is the great equalizer. 

I currently own (and have done so for decades) all the types of property you mention.  They all serve me well as retirement vehicles.  I want you to invest where you can touch your property.  Lower prices say in Nevada or Arizona are equalized by higher management costs, less personal involvement, and less knowledge in the development of the deal.  Find a fantastic value locally.  They are all around you.  Make a lot of offers! 

In California, I used a simple qualifier to determine if I wanted to look at an investment property.  I would have to be able to live there and monthly rent had to be at 1% of sales price.  The deals are going fast, hurry before the fixed interest rates go up again!

It is not that hard when you take the “flipping” mentality out of the picture.  Buy a business that is your business while you are doing your business. Live off of it when you quit your real estate brokerage business. 

 

Walter Sanford has been designing and implementing real estate systems for 30 years.  One of the most successful REALTORS® and now wealthy from his systems, Sanford teaches his systems and strategies through his products, seminars, and personal coaching producing the best results in the industry.  Do what works, do what is proven.  Hire Walter Sanford.  Call our office at 800.792.5837, email walter@waltersanford.com, or chat with us online at www.waltersanford.com.

 

I Always Loved My Board of REALTORS June 17th, 2009 | Posted in General Real Estate

I never understood all that complaining about yearly dues.  The legal help lines, the continuing education opportunities, the store, and the new technology were all items that I used every year.  Don’t forget about the Christmas Ball, too! 

In the last couple of years, I have had the opportunity to work with some of the most progressive boards in America.  We have been getting calls from boards and associations asking for non-CE credit courses to help their members move out of low production by implementing tough market systems. 

There is nothing wrong with continuing education credit seminars, and I do those all the time.  However, the state real estate departments are strict in monitoring which seminars receive credits and which do not receive credits.  They have regulations that require continuing education credits only be given to agents who attend seminars that teach them to do better jobs for their customers.  Contracts, fair housing, architecture, and ethics are all necessary ingredients to a safe, fruitful, and client-pleasing career. 

The other day, I spoke with an executive officer who said, “My agents need to learn how to list more, sell more, price better, and get paid for their hard work!”  She went on to say, “If they do not start making money, they can not give the service that their clients deserve, because they start cutting corners!” 

It is true that an agent who is desperate for money is more likely to lie and manipulate a transaction for survival rather than putting his or her clients first.  Putting the client first is one of the most fruitful ways to increase future business; however, an agent might not consideration that if he or she is trying to pay the bills. 

Executive officers are stepping up all over the country to provide the training that their members need.  I am getting the greatest requests for the following:

  • How to build listing inventories
  • How to manage buyers
  • How to make faster and more successful listing presentations
  • How to use personal websites to attract more sellers and fewer buyers
  • How to separate myth and reality of social networking
  • How to build low-cost teams and make an assistant profitable
  • How to get over the fact that you don’t have an REO account
  • How to turn down 50% of short sales
  • How to buy at the bottom to become rich at the top

These seminars are not always granted continuing education credits.  The EOs are telling me that their membership is taking the required courses online or from many speakers like me who are licensed to provide continuing education.  However, the great demand from the agents is for tools that are not covered in the CE courses.  We are seeing a rush to provide these tools for boards and associations across North America.

Executive officers spend all day determining what is best for their membership and the new trend is providing seminars where the speaker talks about how the agents can make more money now by using smart business systems.  The emphasis is being taken off the regulatory type seminars.  I hope you never complain about the dues again.  They just may save your business!



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