10 episodes

Get all the information and and the latest updates, tips, and tricks of Personal Finance and Mortgages from Tom Cafarella - your professional Ocean City Development Consultant

Massachusetts Real Estate Careers with Tom Cafarella Tom Cafarella

    • Education
    • 5.0 • 1 Rating

Get all the information and and the latest updates, tips, and tricks of Personal Finance and Mortgages from Tom Cafarella - your professional Ocean City Development Consultant

    • video
    The 7 Tools to Take Your Real Estate Business to the Next Level

    The 7 Tools to Take Your Real Estate Business to the Next Level

    I want to offer you an opportunity. An opportunity to take your real estate investing business to the next level. My Best Training Partner With Us Build a Team That Brings You Deals Visit Us For a Behind The Scenes Mastermind Today I’ve got something that I’m very excited to share with you and any other real estate investor out there. These are the seven tools that I use in my real estate business that I’ve seen great success with over the years: Follow Up Boss Twilio Mojo Dialer Investor Carrot Google Sheets Cole Realty Resource Find Motivated Sellers Know Here’s a brief description of how I use each tool along with timestamps so you can learn about the tool you’re most interested in first: 0:30- What a CRM like Follow Up Boss does for you and your business. 1:35- How Twilio helps us track our leads consistently and accurately. 2:50- How a three-line dialer like Mojo will help you reach many more leads each day than hand-dialing would and turns old leads into gold. 4:30- Why any successful real estate investor should use a website provider like Investor Carrot instead of developing their own site. 6:15- Google sheets serves the same purpose as Microsoft Excel, but you can access your files from anywhere for free and easily share them with other people. 7:30- Cole Realty Resource can help you find the properties that are most likely to sell to an investor and pull cell phone numbers of those homeowners. Pulling these cell phone numbers will allow you to double your output compared to calling home phones. 9:00- An awesome tool like Find Motivated Sellers Now will help you create a dynamic database and filter properties in your target market based on the homeowner's equity, how long they have owned the home, and where the home is.  I want to offer you an opportunity. An opportunity to take your real estate investing business to the next level. I’ve used every single one of these tools in my business and I’ve seen great success with them. So much success, in fact, that I’m looking to expand into other markets outside of Boston this year. What I’m offering isn’t a coaching program, it’s an opportunity. I want to help you dominate your local market by joining with me into a true partnership agreement where we only make money if you do.  To learn more, head on over to my site, www.realestateinvestingiseasy.com. Once you enter your email address, I’ll immediately send you a video with the exact steps necessary to have success in this partnership and what I’m looking for in a partner.  Even if you aren’t interested in partnering with me, entering your email address on my site will give you free, lifetime access to all of my in-person fix and flip training events. You’ll also get free access to my private Facebook group, “Questions for Tom”, where I’ll answer any question you may have within 24 hours. These benefits are only available to you if you take action now. Head on over to www.realestateinvestingiseasy.com and if you have any questions for me in the meantime, don’t hesitate to reach out. I look forward to hearing from you soon.

    • video
    5 Real Estate Investing "Don'ts" to Avoid at All Costs

    5 Real Estate Investing "Don'ts" to Avoid at All Costs

    Today, let’s take a look at some real estate investing “do’s” and “don’ts.” Knowing what to avoid and what to do instead can really boost your success. My Best Training Partner With Us Build a Team That Brings You Deals Visit Us For a Behind The Scenes Mastermind Today, I want to let you in on the things you shouldn’t be doing when it comes to marketing in real estate, as well as explain what you should do instead. These tips have been compiled over countless hours and millions of dollars spent on motivated seller marketing. 1. Don’t market only when you need a deal.  This is the biggest mistake I see newer real estate investors make. I call it the “real estate investing hangover.” New investors run around, market, find a great deal, then stop marketing. These investors spend all of their time on the fix and flip or on trying to wholesale the property. Then, all of a sudden, they wake up one day with no deals. This is the real estate hangover I’m talking about. You get paid for the deal you just closed only to realize you don’t have any other deals in the works. In order to get face to face with motivated sellers, you must be constantly marketing. Don’t just market when you need a deal; you need to market all the time. 2. Don’t market to the same list as everyone else. Lists of absentee owners, notices of default, and people behind on their mortgage are the same lists that everyone else will be pursuing. In fact, so many people market to these lists that your odds of getting a deal from them are very low. The name of the game in real estate investing is to have as little competition as possible on a home sale. Instead of buying a motivated seller list, you should build a database of the homes in your market that you want to buy. To do this, you’ll first need to create a property avatar—a list of all characteristics of a home. In other words, make a list of the property characteristics that you like. Then, add the avatar of the particular seller. Ask yourself, what kind of sellers tend to sell to you? For me, the people who sell to me generally have equity and have lived in their home a long time. When you make a list of the kinds of properties you like and a list of the kinds of sellers who are likely to make a deal with you, and then combine those lists, you are setting yourself up for success. Don’t just market when you need a deal; you need to market all the time. 3. Don’t buy a super expensive website. This is one thing I see newer investors doing all the time. As someone who has made this mistake myself, I can tell you that the thousands you’re spending aren’t worth it. You may end up with a gorgeous website, but this shouldn’t be the goal of your online presence. Your website needs to convert leads. Of course there’s nothing wrong with having a website that looks nice, but it isn’t entirely necessary. The main focus should be capturing contact information from people who visit it. Personally, I use Investor Carrot. Investor Carrot is a website company that creates sites specifically for real estate investors. Investor Carrot sites are designed to convert. Also, using Investor Carrot is actually less expensive than hiring a website developer. 4.  Don’t spend your marketing dollars on mass media campaigns. When you advertise on television, radio, and billboards, you’re paying to reach people who have homes you don’t even want to buy. Instead of mass media advertising, focus your money and energy on targeted advertising. Utilize mailers, cold calling, and internet ads to generate leads. 5. Don’t drive for dollars. If you aren’t familiar with the concept, driving for dollars is when you drive through neighborhoods you'd like to buy in to find beat-up properties. Doing this is a huge waste of time. There is no correlation between a beat-up property and a seller who wants to sell at a discount. When you target beat-up homes, you’re cutting out your very best deal

    • video
    Using a Website in Your Real Estate Investment Business

    Using a Website in Your Real Estate Investment Business

    As a real estate investor, a website can be a very useful tool. Here’s how you should set your website up. My Best Training Partner With Us Build a Team That Brings You Deals Visit Us For a Behind The Scenes Mastermind Today we’re going to talk about how you can and should use a website in your real estate investing business. The reality is that getting a website on day one doesn’t make sense for a lot of people. I’m here to talk about what a website should be doing for you in your business when you’re ready for it.   Here’s an outline of what I discussed, so you can skip ahead to the part in the video that interests you most:   :50- The only reason you need a website in the real estate business.   1:45- How to drive traffic to your website once you’re ready to have it.   3:00- What not to do when building your website.   5:35- An example of a website that successfully converts leads.   6:45- What you should absolutely do when building your website.   7:35- How I doubled my leads from my website by using Investor Carrot.   8:30- How you can learn from my mistakes in developing your real estate investor business  by becoming a true partner.   9:30- How to find out that working with us in your market will look like.   If you’re interested in becoming a partner, or you just have any questions about your website, lead conversion, or anything else, don’t hesitate to reach out to me at www.realestateinvestingiseasy.com. I’ll make sure you get free access to all of my in-person training events that are held each month. I look forward to hearing from you soon!

    • video
    The Worst Way to Invest in Real Estate

    The Worst Way to Invest in Real Estate

    Taking market exposure is the worst way to invest in real estate, but there are ways you can avoid doing this.  My Best Training Partner With Us Build a Team That Brings You Deals Visit Us For a Behind The Scenes Mastermind Are you worried about losing money through real estate investing? If you’re using it the wrong way, then you should be. And the worst way to invest in real estate is by taking market exposure.   Taking market exposure means whether or not you make money on the deal depends on what happens with the real estate market. Even though nobody can tell you exactly where the market is going, as of now, there is a lot more possibility for the market to go down than for it to continue to go up. If you’re fixing and flipping and investing in real estate, make sure you’re taking as little of that market exposure as possible.   How do you avoid this mistake?   First, if you’re doing a fix and flip, make sure you’re doing a project with a very quick turn. You don’t want to take on really long projects that could last a year or more. You want to take on projects that allow you to buy and sell in the exact same market. The great thing about the real estate market, as opposed to the stock market or the bond market, is that when it’s going down, it can’t happen all at once by the function of how real estate is sold.  The stock market can go down 20% or 30% over the course of a few months—sometimes even faster than that. When the real estate market goes down, it goes down slowly, and the real estate market goes down once inventory starts to accumulate.   By “quick-turn” projects, I mean projects you can buy, renovate, or sell within a 90-day period in the same market. That eliminates the risk of market exposure instead of buying a property, renovating it, and selling it a year later. Even though the real estate market goes down slowly, a lot can change in one year. One year is a long enough period of time to lose 10% to 15% value on a project, which is why you want to fix and flip in 90 days or less. If the market falls 12% over the course of a year and you were able to fix and flip in 90 days, you’d only be taking on 3% of that 12% exposure.   Another thing you can do to eliminate market exposure is to wholesale. In our current market, there’s no better opportunity than wholesaling. Not only are homeowners overpaying for deals, but investors are overpaying for deals too. In some markets, people doing wholesale deals are making the same, and in some cases more, than the people they’re wholesaling the contracts to.   If you’re unfamiliar with the concept of wholesaling, all it means is that when you get a property under contract, you give that contract to another investor for a fee. When you wholesale a deal, there’s no defined amount you can make, but typically speaking, people in this market are making anywhere from $10,000 to $30,000. What you make on a wholesale deal is dependent on what kind of deal you get. The better deal you get, the more you’ll make.   The third thing you can to do avoid market exposure is if you’re buying a multi-family property, make sure the cash flows on day one. Never buy a rental property based on appreciation—it should be cash-flow positive from day one. There are some markets across the country where this is almost an impossibility. Even in our market here in Boston, it’s tough to buy properties where the cash flows from day one, but you can’t let that rule stop you. Make sure you’re getting great deals and properties below market value so they produce cash flow from day one.   To summarize, doing lengthy projects in our market is very dangerous. If you’re going to close on a property, make sure it’s a quick-turn project. If you don’t want any market exposure whatsoever, wholesale the property. If you’re buying a property to buy and hold, make sure it’s cash-flow positive from day one.   Never buy a rental property based on app

    • video
    How We Turned Our Latest Fix-and-Flip into a $50,000 to $70,000 Profit

    How We Turned Our Latest Fix-and-Flip into a $50,000 to $70,000 Profit

    How’d we manage to buy this house for $305,000 and get it under contract for $500,000? Follow along on our walk-through of the property to find out. My Best Training Partner With Us Build a Team That Brings You Deals Visit Us For a Behind The Scenes Mastermind Welcome to one of our latest fix-and-flip properties at 21 Center Avenue in Reading, Massachusetts! This property was purchased three months ago for $305,000. We put in $60,000 worth of repairs, and we just recently got the project under contract for $500,000. All told, we’re probably looking at a $50,000 to $70,000 net profit. Follow along in the video above to get a full tour of this property and hear me explain some of the fix-and-flip processes we used to turn this house into a profit. For your convenience, I’ve included timestamps below so you can skip ahead to certain sections that might interest you: (1:17) - A split-level entry that allows you to walk upstairs to the first floor or downstairs to the second floor. (2:08) - Our fully staged living room, dining room, and kitchen layout on the first floor. (5:04) - The upper-level bathroom. (5:55) - Upper-level bedroom No. 1. (6:21) - Upper-level bedroom No. 2, featuring new windows. (6:52) - Upper-level bedroom No. 3. (7:17) - Lower-level bedroom No. 1 (9:52) - The lower-level den, featuring a fireplace. (10:15) - The lower-level bathroom, which we made into a full bathroom. (10:45) - Key points to remember about fixing and flipping. If you want to learn more tips and tricks to flipping properties or you’d like to work with me directly on fix-and-flip properties, visit www.realestateinvestingiseasy.com. By entering your email address on that website, you’ll get free access to any of my fix-and-flip training events and free access to my private Facebook group “Questions for Tom,” where I’ll answer any of your real estate investment questions. Thanks so much for walking through this property with me. If you have any other questions, feel free to give me a call or send me an email. I’ look forward to hearing from you.

    • video
    Hazel Closes a Deal on Her Very First Lead

    Hazel Closes a Deal on Her Very First Lead

    My Best Training Partner With Us On this call we cover: The numbers on Hazel's first fix-and-flip in her area of the country The renovations required Speculating on the offers Hazel will receive from buyers once the house is on the market Struggles Hazel is currently working through on another property Working through all of the information that Ocean City Development provides

Customer Reviews

5.0 out of 5
1 Rating

1 Rating

Top Podcasts In Education

The Mel Robbins Podcast
Mel Robbins
The Jordan B. Peterson Podcast
Dr. Jordan B. Peterson
TED Talks Daily
TED
UNBIASED
Jordan Is My Lawyer
Do The Work
Do The Work
The Rich Roll Podcast
Rich Roll