Hold your bank account in a Personal Property Trust (3 of 7 in Lou’s Series on Using Trusts) – 101 Street Smart Cash Flow Accelerators

It’s Lou Brown with another my hundred and one ways for real estate investors like you to win close more deals and accelerate your cash flow. Today’s tip is number 46 have a personal property trust as the beneficiary of your land trust. Well, if you’ve been following this series, you’ve learned a lot of very unique and amazing things about this powerful thing called trusts. It’s something that most people don’t know anything about it. It’s the most powerful entity I’ve ever discovered on the planet. And it’s something that you need to learn and you need to master. I love being able to pass this on to other folks because the changes and the benefits that I’ve gotten from it had been totally amazing. And I’ve heard, oh, I can’t tell you how many testimonials from others that have used my system over the years, been doing this since 1984 so there’s an awful lot of, uh, an experience that’s gone with that and teaching others as well over the last 30 years has been very powerful as well.

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Separate Your Rental Agreement #70 – 101 Street Smart Cash Flow Accelerators

I’m back with another of my 101 cashflow accelerators where you can separate yourself from being just a landlord into [inaudible] housing provider, an affordable housing provider. In fact, a certified affordable housing provider. One of the things that I teach you to do in this particular segment is to separate your documentation. So in other words, we’re entering into two different agreements. If we’re going to do a lease with the option to buy, we’ve got a lease, you’ve got what we call our standard rental agreement, and that covers the relationship that we have with them as an occupant of the property. Separately, they’re going to purchase another thing called an option to buy and that option to purchase is going to give them the rights to purchase that property within a designated period of time with a certain requirement within that. And as a result of them agreeing to that separate agreement, they now have the option to purchase the property.

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Offer Your Optionees Back Up Owner Financing – 101 Street Smart Cash Flow Accelerators #69

I’m back with another man, 101 cashflow accelerators. In this segment we’ve been talking about proper property management in formed property management, profitable property management, and one of the great profits enters that you have is giving your residents the opportunity to someday own that home. Now in the marketing that we do remarket there, find people that have a significant down payment that they could put down on the property. Why would they give it to you? Because they can’t typically qualify for a traditional loan. Half the bank. Well aren’t you a great service provider in your community? We call you an affordable housing provider and actually under our [inaudible] program you can become a certified affordable housing provider. And we provided all the documents that training the tools, the marketing, their websites, a complete package to open a business in your local community that attracts those kinds of folks.

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Rent on a Lease with Option to Buy – 101 Street Smart Cash Flow Accelerators #68

I’m back with another my 101 cashflow accelerators. And one of the things that is very important in having a successful real estate business is paperwork management. Sorry guys. This is a detail-oriented business. The paperwork does matter. Finding the paperwork absolutely matters and it’s important that you always can put your finger on it. One of the things I developed over time, you know, if you think about it, once you get into a real estate transaction, it can be quite thick over time and you’ve got the have different segments, uh, to be able to find things quickly and easily. So I found these six part olders that uh, pretty much just show you what you can do with each one of these segments. So if you look at that one section, and if you start with this section over here, uh, that’s the first section.

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Set up Your Office Right – 101 Street Smart Cash Flow Accelerators #67

I’m back with another of my 101 cashflow accelerators. And one of the things that are very important in having a successful real estate business is paperwork management. Sorry guys. This is a detail-oriented business. The paperwork does matter. Finding the paperwork absolutely matters and it’s important that you always can put your finger on it. One of the things I developed over time, you know, if you think about it, once you get into a real estate transaction, it can be quite thick over time and you’ve got the have different segments to be able to find things quickly and easily. So I found these six-part holders that pretty much just show you what you can do with each one of these segments. So if you look at that one section, and if you start with this section over here, that’s the first section.

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Give Tenants the Option to Buy – 101 Street Smart Cash Flow Accelerators #66

I’m back with another of my 101 cash flow itself. Writers where I’m going to help you to become a multimillionaire in the real estate business. It’s been a fabulous business for me. I love it. It’s been incredible. One of the things we started doing in the last video I was talking about giving our residency option to purchase and how that can be so much better for you. You can end up with a better resident at one point I want to make about that is we have them pay what’s called a ROC non-refundable option consideration. What that means is that once they pay that money, and I want you to understand this, they have purchased merchandise. The merchandise they purchased is the option to purchase that property, so as a result of purchasing that option, they have paid for that well when they pay for that.

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Have the Tenants Take Good Care – 101 Street Smart Cash Flow Accelerators #65

I’m back with another amount, 101 cashflow accelerators. In this segment, we’ve been talking about managing property and if you’re like me, you want to have fewer headaches and more income and one of the things that I discovered years ago is when I give my residents an opportunity to be in a position to own the property, I’m going to get a better resident, a better mindset, better incentive to pay us on time, more likely to take better care of the property. So years ago I started doing something called an option, a lease with the option to purchase the property. Now, way back in the day, they used to do six-month leases. Homebuilders would do that with an option to buy, to get people into the next season, maybe get over a bump in their credit, and then give them the chance to buy the brand new home.

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Have Rents Mailed to Your Mailbox Address – 101 Street Smart Cash Flow Accelerators #63

Welcome back to another of 101 cashflow generators, cashflow accelerators. I want to help you be successful in this great game of buy, hold and sell. By the way, that’s the name of my upcoming book and one of the things that I’ve discovered in being in this business is that you have to put yourself in a position to win and the way that you do that is that you take yourself again out of the position of receiving anything at your home. One of the things over time I’m going to teach you is that it’s very important that you create some privacy for yourself. Your residents should not know where you live. Your contractors should not know where you live in a body. I mean, we all know people getting crazy now and it’s just a better idea to put yourself in a position that you don’t, y’all, your business is not in this route, so to speak.

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Train Your Tenants – 101 Street Smart Cash Flow Accelerators #61

I am back with another of our hundred and one cash flow accelerators. And one of the things that we’re focused on in this part of the series is property management, proper property management informed property management. And one of the most important things you can do in property management is to have excellent documentation and not only to have excellent, excellent documentation, but also to train your resident to be a good resident. So what we do is we have a signing ceremony, we would call it the signing ceremony and we invite the resident to come into our office. But if you don’t have an office set up a location, it could be a hotel lobby, it could be the local waffle house, Denny’s, wherever that you can have a quiet place, you can sit to be there for a while and a comfortable environment, not at the empty house so that you’re going to rent to them or the apartment sitting on the floor.

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Build in Your Rental Increases – 101 Street Smart Cash Flow Accelerators #60

I am back with another of our hundred and one cash flow accelerators. It’s so exciting to share with you things that I’ve learned over being in this business for over 40 years. And one of the things I discovered is to build into your rental agreement rental increases. Now what that means is that you’re telling your resident in advance that the rent may increase by X percent annually. So what that means is that you now can, can prescribe in advance that the rent may go up, say 10%, and then what that means is now we tell the resident at what we call the signing ceremony. This is when we meet and we go over that document. This is when we train them to be good residents. This is when we tell them everything that they need to know about becoming a good resident and being a good resident in good standing with us.

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