1. 1. Name Your Business-

Choose a name for your business and a Vanity Name  & Number would be most profitable as you begin to brand your company’s services. A vanity number would seamlessly integrate all of your marketing tools such as the website, toll free numbers, your signs, ads and business cards. Once you’ve chosen a name, the next step is to go and grab that domain name and look for a dependable yet affordable web host.You can use whomever you like but this is who I depend on time and time again for my many sites because they’ve got Web Hosting – $6.95/mo! and I like them.

2. Launch your Website –

After strategically choosing the name of your business (remember you are branding) you will order your domain name and design your website. The first site that my previous partner and I did was on a site called ebiz at the time which was fine except for the fact that I had to learn so much about web layout, uploading and that sort of thing- which took time away from our real estate business. If I had it to do over again (and I certainly do it now) I would outsource this task to someone more skilled at this chore and it’s not very expensive either. If you want to explore a little more about having someone implement this for you in the next couple of days, Odesk is a pretty good source and you can even Find Virtual Assistants on oDesk . I’ve been using them for a little more than a year and I’m very satisfied with the many affordable providers on the site.

3. Marketing-

Using Signs, Postcards, websites, classifieds and everything else that you can think of. I’ve heard some great feedback from investors that have been very impressed with the Real Investor Software System because it  automatically schedules, manages  and merges direct mail marketing, efax and email campaigns as well as letters and postcards to increase follow up and keep things on track. RealProspect is allowing people to try it out for a full 30 days for only $1- so there’s no reason not to at least check it out.

4. Order your business cards -

I like Vistaprint’s Business Cards because are so affordable, good quality and they have an excellent turn-around time. This means that you can take control of your business card and get better results. With Vistaprint’s pre-designed templates, you can create a professional, attractive business card online in seconds. No more haggling with a designer. Right now get 250 full-color business cards FREE with this special offer. Click here.

5. Explore and Subscribe to Get Leads -

Such as WeBuyHouses.com, iBuyHouses.com, leasepurchaseleads.com, fasthomeoffer.com, uslandco.com or even search some of the many Foreclosure Deals that are out there  using a 7 Day Free Trial.  The motivated seller leads from We buy houses will be routed to the nearest location of the lead and it’s known nationally. Most of these sites send you a fairly detailed property description, contact info ,loan data and you can even get an idea about the ARV from some of these providers. Just shop around until you see exactly what you’re looking for.

6. Constantly add Sellers & Buyers to Your Database -

Offer them a free or report in exchange for subscribing to your site.A report similar to ‘the 23 Most Costly Mistakes That Investors Make” If you  don’t have one- go grab one at my website for free of course and have your assistant upload it to your site to help educate buyers/sellers that visit your domain. Once you’ve established an initial relationship with them, you can follow up with an email autoresponder series using a service like aWeber to maintain that contact. This way, whenever the seller decides to get rid of the property, they will immediately think of you.

7. “At the Ready” Agreements -

If you need real estate forms- you can grab 23 of mine right here FREE of course >>>click here and I would highly suggest that you take some time to layout a complete filing system so that you can be prepared when the deal comes. I also keep an accordion file in my car with every form that I might need to put a house under contract at the drop of a hat.

8. Beef up your Buyers List -

You can advertise regularly on places like Craigslist, Kijiji, Backpage and other free classified sectors online. The other thing that I would highly suggest is that you become a regular fixture at your local real estate investors club. You can network to your hearts delight and immediately learn the criteria that your buyers are looking for. Again, this can be assigned to a virtual assistant as well so that there is a consistent building of this essential database.

9. Email Property Lists to Buyers Investors -

Some of the sites out there will have a built-in email system as part of their service. Most of them will not. I like to use Aweber to send out my property lists because it’s cheap, accurate and I can include links to several sites in the email, not just the one where my property is located.  Sending Investors a link to the property will drive business to your website but most folks are busy. I like to have pictures, comps and a story right there in the email for them to look at. For the people that never click through because they are still getting ready to invest, establishing yourself in their minds as the person with lots of pictures will bring them back to you when they are ready.

10. Build your Power Team -

You cannot do everything yourself and some things you lack the expertise to do and other things you lack the time for. A powerful support team will help you to leverage yourself as you start doing deals because you will be able to delegate things that other people can and want to do and free up your time for running your own business. It’s a individual business decision as to what real estate industry professionals will play a role on your team and there are so many to choose from. Perhaps you’ll need a RE agent, or a Hard Money Lender, a Contractor and Appraiser may be on your team along with a Title agent. I even have a Pest Inspector on my team but it took a while to know exactly who was needed after some experience out there.

Remember, the best use of your time is spent Finding Deals so the best thing to do within the next 72 hours is to get on the phone to interview these folks and get moving as team players.

Don’t over-think it…get on the phone, meet some folks, have some laughs and see how you can perhaps help someone else’s business.

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Courthouse Auctions: Mining Foreclosure Gold
By Octavio Nuiry

Every week, tens of millions of dollars worth of foreclosed real estate is sold nationwide at sheriff’s sales and trustee’s sales, and savvy investors are finding a few golden bargains mixed in with many lumps of coal at these public foreclosure auctions. Investor Gregory Metcalf in Orange County, Calif., said sometimes he’ll scoop up five or six properties in a day.

“This is a highly specialized area of real estate,” warned Metcalf, the dean of the auction bidders who buys 500 to 600 properties a year and shows up daily at each of the Orange County trustee sales in Santa Ana, Orange and Placentia, Calif. “You would be foolish not to get training to learn how to work courthouse auctions. Spending $3,000 or more on training is nothing, because if you make a mistake here you’ll get killed.”

Last year, the auctions were largely deserted, with only a handful of the “regulars” attending the sales.

Not anymore. Now, from Malibu to Manhattan, courthouse auctions are attracting large crowds of bidders and gawkers — and investors are snagging bargains left and right. With the housing market enduring one of the largest declines in housing prices since the Great Depression, Metcalf and other regulars have an unrelenting cascade of foreclosures to select from. Sales are stalling, however, because delinquent borrowers are renegotiating the terms of their loans with lenders, working out new payment plans with banks. Some borrowers are filing for bankruptcy, delaying the foreclosure process. Others sell their distressed dwellings ahead of the auction via short sale. The rest go back to lenders.

Shrewd auction buyers won’t bid on underwater properties unless there are huge discounts and a potential to make a quick buck.

“In a declining market, you have to be very cautious about what you are buying,” warned attorney Ward Hannigan, owner of InnoVest Resource Management, a San Diego-based firm that specializes in buying courthouse auctions and a private, one-on-one foreclosure trainer. For one thing, cautions Ward, buying a house at auction is far different from buying a house through a broker. And though auctions offer a real opportunity to find a house at a lower-than-market price, the risks, he said, are real.

Mining the Minefield
As Hannigan, Metcalf and other regulars have learned over the years, no minefield of American real estate is as explosive and dangerous as foreclosure sales. Buying at the foreclosure sale is plagued with risks. Most defaulting properties have multiple loans, and buyers need to verify that they are bidding on a property that has no senior liens. For protection, buyers should hire a title search company to make sure the property is not encumbered by liens.

Experts said the most important rules when buying at auction are to have an exit strategy, don’t get too greedy, and be patient waiting for the best deals.

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Understanding and Navigating Your Way Through the Foreclosures Process
By Rick Sharga, RealtyTrac Vice President of Marketing

Foreclosure properties can be a terrific investment, or give home buyers a much more affordable option than traditional properties in this time of escalating prices. But, before you jump in assuming this is “real-estate for dummies” or the next get-rich-quick scheme, think again! You really need to know your stuff when it comes to navigating your way through the process and making sure you’re getting the most bang for your buck.

“For people willing to do some homework, the foreclosure market offers some of the best opportunities in real estate today,” explains James J. Saccacio, chief executive officer at RealtyTrac, the leading online foreclosure marketplace.

Web-based services like RealtyTrac can help investors and homebuyers tap into this previously hidden market by providing access to foreclosure and pre-foreclosure information typically available only to professional real estate brokers and investors. Today, homebuyers can use these services to identify and research potential home purchases, as well as to find the tools and professional resources they need to help them close the deal.

When offering advice to buyers interested in taking advantage of the foreclosures market, Saccacio stresses the importance of educating oneself about the types of properties and the processes involved. Even seasoned real estate investors have something to learn when it comes to approaching this market. It’s important to go in with the appropriate knowledge.

Types of Properties Available at Various Stages of the Process
Serious buyers must first understand the difference between the varying types of foreclosure properties. It’s important to review the basic types of properties, each representing a different stage in the foreclosure process.

Pre-foreclosure Properties
A property enters pre-foreclosure after a default notice is filed by the foreclosing lender against the borrower who owns the property. The different notices that are filed during pre-foreclosure include Notice of Default (NOD), Lis Pendens (LIS), Notice of Trustee Sale (NTS) and Notice of Foreclosure Sale (NFS). For most consumers, buying a pre-foreclosure property from a private homeowner is the most favorable of options. This is a best-case scenario because the seller is able to get out from under a mortgage without destroying his or her credit rating, the lender is saved the time and expense of foreclosing on the property, and the buyer gets a below-market price on a home. In addition, buying at this stage of the process allows you, the buyer, a chance to fully evaluate the property before making an offer.

The disadvantages associated with purchasing a property during the pre-foreclosure stage are few, but worth mentioning. As with any major purchase, negotiations between the buyer and seller can be difficult, especially since the seller would typically prefer not to have to sell the property in the first place. Secondly, transactions are time-sensitive, since there is pressure to complete a sale before the property goes to auction.

Auction Sales
Foreclosure auction sales are typically the domain of the professional investor. These properties are formally in default, and sold to the highest bidder at an auction. Buyers are required to be physically present at the auction and must be prepared to pay 100 percent of the sale price in cash on the spot.

Though foreclosure auctions can offer significant savings as well as immediate property ownership, they are not for the faint of heart or the uninformed! Unless the buyer is already familiar with a particular property, there is usually little time to examine it. And, the buyer will be competing against professional investors—and sometimes even the lender—at the auction.

Real-Estate-Owned Properties
Once the lender officially reclaims a home, it is classified as Real Estate Owned by the lender (REO). While REO properties typically offer more time for evaluation and a more standard bank-managed transaction, their prices are usually very close to full retail market value. Therefore, they offer buyers the lowest potential savings.

It’s definitely possible to find great deals in the foreclosures market. You just need to know where to look and be able to differentiate exactly what you’re looking at. With an understanding of the pros and cons of buying at each stage of the process, you’ll be well on your way to a successful purchase you can be proud of.