investment opportunities in today’s real estate market greenovate the home llc
TRANSCRIPT
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Investment Opportunities in Today’s Real Estate Market
GREENOVATE THE HOME LLC
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Joe Griffin-Owner/CEO
BS Long Island University
MBA University of Phoenix
Licensed Residential, Commercial, and Business Broker with Metrobrokers
Realtor/Investor for over 10 years
Launched Greenovate the Home LLC 2010
Help homeowners build value through green philosophy
Teacher of the Year/Hall of Fame College basketball player/Professional
© 2008 - Must Know Investing
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© 2008 – Patrick Riddle
It’s a Buyer’s Market!The State of the Mortgage Industry.
Foreclosures at an All Time High. Investors can Purchase Properties for 30-50% Off
Cash buyers can get a bigger discount!
Today’s Real Estate Investing Market
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Opportunity Awaits the Intelligent Investor
© 2008 – Patrick Riddle
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Food For Thought
© 2008 – Patrick Riddle
Suppose I approached you with an opportunity where you lend me $100
dollars, and immediately, I turn around and repay you $120 the next day. How many times in a year would you be able to lend
me $100? I think that answer would be…….
AS MANY TIMES AS POSSIBLE!!!!!!!
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It Gets Even Better
In the previous example, the $20 dollars you earned represented a 20% interest payment right? Remember I immediately paid you back? The annualized return would not be 20%. Interest is calculated on an annual basis, what about the other 364 days. Your annual return would be……
7,380%(20% X 364 days)
© 2008 - Must Know Investing
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Question???
Would you be willing to take an existing line of credit, cash, or IRA, and invest with me for a 20% return? What if we did 4 deals per year? Wouldn’t you really be earning 80% utilizing the same funds over and over? Do you want some collateral? How about a bank owned foreclosure purchased for 40 cents on the dollar. Are your current investments earning more?
© 2008 - Must Know Investing
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Opportunity Awaits the Intelligent Investor
© 2008 – Patrick Riddle
You Become the Bank as a Private
Money Lender
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WHY!!!
© 2008 – Patrick Riddle
Banks are Filthy Rich The Stock Market is averaging a 10% loss
over the past 5 years CD’s and Saving Account interest is
laughable ranging between .5% and 2% return annually
Even in today’s market, real estate has nearly doubled in value over the past 10 years
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Teacher Salary= $4200 per month
I realized I would need 2.4 million dollars in a savings account earning 2% to equal my current salary of $4200 per month.
Purchase 10 homes at today’s real estate prices. Pay them off early with proceeds from my investments, then rent them out. Earn easily $7000 per month with growing equity in the homes.
© 2008 – Patrick Riddle
The Hard Way The Easy Way
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© 2008 – Patrick Riddle
Locate Motivated Sellers Provide Solutions Through Speed and Ease of
Transaction Use Cash from Investors to Buy Property at
Deep Discounts Create Win-Win-Win Scenario between Seller,
Investor, and Greenovate The Home LLC
REPEAT, REPEAT, REPEAT!!!!
Our Business Model
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© 2008 – Patrick Riddle
Cash is King Speed to Close a Deal It’s Like “Profit Sharing” No expensive Hard Money Less documentation required New laws limit the amount of properties
an investor can finance
Why Borrow from People Like You
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© 2008 – Patrick Riddle
We will locate distressed homeowners and bank owned property
We will rehab property using Green methods
We will market property with Metrobrokers using the MLS
We will coordinate all aspects of the sale and closing
Investor simply funds the deal and waits for a check!!!
What are our roles?
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© 2008 – Patrick Riddle
What experience do you have Investing? Are you happy with your current
investment portfolio? How do you think our program could
help with your investment goals? Whether or not our program is a fit, is it
important that you invest right now?
Investor Evaluation
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© 2008 – Patrick Riddle
CashLine of CreditSelf Directed IRA-
Video
What Do We Need to Start?
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© 2008 – Patrick Riddle
Investing Range - $25K to $250K Time Frames:
Short Term – 6 to 12 months Long Term – 1 to 5 years
Rate of Return –20% return on each deal or negotiated split, whichever is greater.
Payment Terms Regular Interest Payment Interest Accrued
Investment Opportunity
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© 2008 – Patrick Riddle
Transaction handled through LLC and a local attorney
Funds wired to closing attorney not my personal bank account
Clear detailed partnership agreement signed before anything
Promissory note and Mortgage to a fully insured property with lots of equity
Investor Protections
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© 2008 – Patrick Riddle
How is the real estate market affecting your business?
Why would people sell their house at such a deep discount?
Would I be investing in a piece of property or Greenovate the Home?
Is the investment secured? What kind of paperwork do I get?
Common Questions
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© 2008 – Patrick Riddle
Can I invest from my IRA? I have equity in my home, could I use
that to invest in your program? Most of my money is in the stock market
but I don’t want to sell right now, how could I invest with you?
How will the repairs be handled? How can we pay returns this high?
Common Questions
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116 Anytown Drive Bank Owned Property Private investor lent
$60K to pay for purchase, minor repairs, and holding costs
Sold property to another buyer for $100k
Interest earned by private investor was $12000 (20%) and 60k was repaid on LOC to repeat process
Can we repeat this process??
© 2008 – Patrick Riddle
Sample Deal
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© 2008 – Patrick Riddle
Define Investment Details Amount Investing Time Frame Payment Terms
Position Funds for Availability Receive Investor Paperwork Package Deliver Funds for Closing
Next Steps
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© 2008 – Patrick Riddle
If you are on board, sign the Commitment Letter outlining the amount you can invest.
Provide all of your contact information Wait for partnership agreement Prepare funds for use Ask for a Proof of Funds Letter from your
Bank
Are You on Board?
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© 2008 – Patrick Riddle
If this opportunity is not for you, please pass the information on to a friend, associate, co-worker or family member. I will pay a generous referral fee for any clients you send over.
If You Are not on Board?
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© 2008 – Patrick Riddle
Joe Griffin2304 Benji Blvd
Conyers, GA 30013
770-827-7251
www.metrobrokers.com/joe.griffinwww.greenovatethehome.comjoegriffinrealestate@[email protected]
Contact Information