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Off Market Property Plan

Overview for IH4. Off Market Property Plan. Overall Outcome for IH4. Our initial outcome is to provide IH4 with “virgin” properties that meet their underwriting criteria.

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Off Market Property Plan

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  1. Overview for IH4 Off Market Property Plan

  2. Overall Outcome for IH4 • Our initial outcome is to provide IH4 with “virgin” properties that meet their underwriting criteria. • To create a “raving fan” with IH4 so that we can have even more opportunities with them and have more flexibility. (for example to flip or to procure via the MLS etc)

  3. How do we do that? • Ensure our properties are “virgin” meaning that they have not been circulated by numerous sources. If we send IH4 properties that they have seen 3-4 or 5 times already, we will degrade our standing. What that means is we will potentially loose our opportunity moving forward. • So how do we ensure the properties are “virgin” properties?

  4. Potential Means to find a virgin • Go to the source- set up your first reach to folks that are owners (no daisy chains) Means incl: lispendance leads, FSBO, Asset Managers, Attorney’s, Expired or Cancelled MLS leads • Make sure you ask the primary contact IF they have attempted to sell the property to anyone else? If so ask who they have given the details to. (they may not be honest but we need to do this so that we are not re-circulating properties that IH4 has seen)

  5. Your role for maximum earnings • To find property that is not in the MLS that are 3 bdrm plus up to 500K • To determine if they are “virgin” properties • Determine flood zone status. (www.floodsmart.gov) enter address (they are NOT taking High Risk) • Look at age restriction to ensure meets age requirement • Look at HOA to determine if any restrictions • Do preliminary underwriting see if 5.5 cap or greater

  6. Continued Role for max cash • Visit the property for photos (IH4 requires 200-250 pics) put into dropbox (You all have an account I set up for properties) • Complete property inspection checklist • Estimate Rehab cost • Do underwriting: • Need 2006 or 2007 peak value • Need current rental comps • Need current value • Need current taxes

  7. Income Options How much do I get paid?

  8. There are Various Options • The previous slides documents an entire scope of work required by IH4. We want everyone to be as efficient with their time to maximize earnings. • Some items may be outsourced and we have folks who can take the workload in Pakistan for very little money. (or you may delegate on your own) • If you provide ALL the data; you get paid the maximum compensation. • If you piece- mail it out- you will get paid the maximum compensation

  9. Various Options for pay Cont • If you only provide limited data, you will need to piggy back with someone else who will complete the data and payment will be allocated to both parties involved on the deal.

  10. Payments on the table • HIGH SIDE MAXIMUM COMMISSION • 3-6% of sales price plus 5,000 bonus from IH4 • Example 200,000 * .06% is 12,000 + 5,000 is 17,000 total commission • LOWEST COMMISSION • $5,000

  11. Possible Future Opportunities • Once we have created a “raving fan” with IH4 (quantified in 15 properties closed) we can approach them with alternative means. Ie a Net listing or flipping or having access to search via the MLS for procuring property.

  12. Tentative Presentation Lets Blow this Popsicle Stand

  13. Thus Far • Ok- This presentation will be ultimately placed (password protected) on my website • I am not locked into any of the content and am looking to Chuck, Phil and Drew (per Drew) to give feedback and additional thoughts.

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