10 Year Writing Anniversary
Tag: Florida
New Release: The Entrefluential Investor
Become a Real Estate Investor, Start Growing Your Real Estate Portfolio
Have you ever dreamed about owning a handful of properties, like playing the game of Monopoly, but in real life? Me too. And with all of the information online, I’m sure you’ve had your share of flipping, wholesaling, and blah, blah, blah advice. Am I right?
Let me give it to you straight, if it were so easy, then everybody would be doing it! The fact is that those investment strategies are oversaturated, you have to have a ton of conversations to get to the one seller who says yes, and you’re probably going to feel like a snake oil salesperson, at best, or a con artist, at worst. You don’t have to join that madness.
The simplest way to get started is to invest in low-cost tax deeds. Some states offer amazing interest rates (18% to 25%) and their bidding sites make it easy to sign up.
My next favorite real estate investment strategy is to acquire short-term rental (STR) properties. This mini business plan introduces you to my strategy for STR Conversions (a book I am writing).
Learn more here.
Behind the Scenes
Veteran Business Owner Speaks on Innovative Business Model for Real Estate Brokerage Startup in Florida.
Building a Real Estate Investment Portfolio Roadmap
Having a Real Estate Portfolio Roadmap Can Help Investors Identify and Visually Communicate Their Vision.
What is a Real Estate Portfolio Roadmap?
A real estate portfolio roadmap (REPF) is a top-down view of your future real estate holdings that you desire to accumulate over the life of your investment career. The roadmap begins as an idea, becomes a plan of action, the steps needed to reach your end goal – the accumulation of real estate – and works as a punch list throughout your journey.
Because of the difficult nature of real estate transactions, namely their many interrelated pieces, the timeframes presented on this type of roadmap are more like aspirational guide posts rather that steadfast directionals or exacting deadlines.
Your REPR is a working, evolving document. It’s goal is to lay the foundation to reverse engineer your investment agenda over the next five, ten, fifteen, or twenty years.
Do I Need a Real Estate Portfolio Roadmap?
For the novice private investor, a REPR outlines a specific growth path to follow which can help move you towards your end goal faster and with less surprises.
For the investment team, such as a REIT, it moves all stakeholders in the same direction, at the same rhythm, helping them achieve their business objectives with more clarity and synchronicity.
Moreover, using a real estate portfolio roadmap does all of the following:
- Provides clarity
- Communicates investment impact
- Guides the investor (or investment team) along the journey
- Creates the initiative to forecast future income & expenses for each investment project (deal)
- Assists the project manager in forecasting required resources for specific initiatives
- Bolsters accountability, and
- Tracks milestones and progress
Action Steps
- Develop a Real Estate Investment Portfolio Vision.
- Ask yourself, “how much money do I want to net in retirement?”
- Talk to other investors, bankers, and real estate brokers to learn about income and expenses for any given investment.
- Create your investor dream team, which includes an accountant, a lawyer, a banker, and a real estate broker.
- Decide on your internal management team. (Are you a solopreneur or an entrepreneur?)
- Create Your First Draft Picks – a ‘Bird’s-Eye’ View of Your Real Estate Investment Portfolio Over the Span of Your Career (the roadmap).
- The private investor or management team should brainstorm investment options to meet the investment portfolio vision.
- Identify specific purchase initiatives, cost estimates, and management (holding) expenses.
- Decide on how to best structure each deal, taking into account the availability of investment and working capital, funding, tax implications, legal, government restrictions, and internal level of priority.
- Create an Internal Investment Roadmap.
- Start with your first purchase objective. Walk through the entire transaction to identify and document all of the potential moving pieces, costs, timing, potential pitfalls, risk reduction strategies, management duties & expenses, and BTCF.
- Decide who will be the project manager for the first undertaking (and each project thereafter).
- Hire your ‘dream team’ and ask your real estate broker to “shop the market.”
- Implement your plan!
- Rinse & repeat!
As your portfolio grows, so will your ability to scale up small projects or take on bigger projects. Thus, your roadmap will undoubtedly be edited several times throughout your career.
Remember, not even “…the best laid plans of mice and men” ever happen perfectly. Be flexible. And, above all, enjoy the journey!
In closing, if you want to be (or already are) a real estate investor who has several properties in mind, then you should create a REPR. It will help you to organize, evaluate, prioritize, forecast, track, and communicate your investment initiatives throughout your investment journey.
As a real estate broker, my team and I want to help you understand our markets and identify potential investment opportunities for you. We want to become your ‘go-to’ real estate consultant, “your source for real estate investment solutions!”
ColemanTanner.com
Corporate office:
The Groover-Stewart Building
25 N. Market Street
Jacksonville, Florida 32202
By Appointment Only
(786) 258-8855
Sales@ColemanTanner.com
Can I Become a Homebuyer if I Have Bad Credit?
You may be a good candidate for a credit restoration program. Once you’ve improved your credit scores above the qualifying standards and have the eligibility income required, you can get an approval from the lender. If you need help with your down payment, there are sometimes local housing grants that are available on homes being sold in certain regions. You should consult with a credit repair specialist and a mortgage lender for an analysis of your current income and liabilities, as well as guidance on your next steps. Lenders can be found on Rocket Mortgage. Lexington Law specializes in credit repair. If you would like to speak to one of our preferred partners, we can arrange an introduction. Stay persistent in your pursuit of homeownership, your future self will thank you.
New Year, New Career? (Boutique Luxury Real Estate Company in Florida Now Hiring!)
- Job Type: Commissioned Sales
- Number of Hires: 50
- Qualifications: Florida Real Estate Sales Licenses
- Work Authorization: U.S.
- Hours: Flexible
- Job Responsibilities: As a Real Estate Agent, you will be tasked with representing buyers, sellers, landlords, or tenants in the acquisition or disposition of real property (residential or commercial).
- Training: We offer a free 7-module post-licensing residential real estate sales and marketing training series and first-time homebuyer course, available on Udemy at: https://www.johnwtanner.com/courses
- Duties: Assist sellers with determining the value of their home, demonstrate the benefits of showcasing their home, and help them find a buyer by promoting their home via online marketing, MLS listing syndication, and hosting open houses. Assist buyers by determining their wants and needs, discovering neighborhoods and the lifestyles associated with them, and viewing new construction homes and resale homes in those sub-markets. Present offers, facilitate inspections, and negotiate changes as necessary for our client’s best interests. Schedule the final walkthrough and closing. Follow up with clients after closing. Assist landlords with locating tenants or assist tenants with locating a property for lease, negotiating contracts, and conducting due diligence (qualify the person or the property).
- Consulting & Property Management: Provide clients with assistance in determining investment strategies, exit strategies, and asset management.
- Networking: Develop a robust list of contacts with third parties who service real property owners.
- Maintain Confidentiality.
Additional Qualifications:
- Computer literate
- Valid driver’s license
- Motivation and grit!
- Witty and creative team players with extroverted personalities are encouraged to apply.
- Locations: Miami, Fort Lauderdale, The Palm Beaches, Naples, Tampa, Orlando, Pensacola/Destin/FWB, Tallahassee, Jacksonville/Fernandina Beach/St. Augustine, and Daytona Beach.
Send resume to: HR@colemantanner.com
How To Use YouTube for Business in 2021.
Today, I want to talk about using YouTube in a way other than watching your favorite music videos.
Begin With the End(user) in Mind!
Personally, as a real estate broker who is new to YouTube content creation, I began by creating content in mid-2020 for other agents who are new to the business. However, that’s not bringing in revenue and there really wasn’t a marketing plan in place. (Enter John 2.0)
Identify & Craft Content to Your Target Audience.
Start with identifying the demographics (age, gender, education, marital status, geography, etc.) and psychographics (social media habits, spending habits, etc.) of your ideal clients. Discover what they want, then give them what they want. The goal of communication is PIE (persuade, inform, and entertain.)
Start With a Marketing Plan!
Personally, in 2021, I want to make videos where I talk about real estate in Florida, beginning with Jacksonville. I want to deliver the content in a fun and entertaining way, while being educational and inspirational. I can do this by sharing home buying and selling tips, infusing enthusiasm and humor in the process, and dressing sharp to convey that I still mean business! 👔😉
I see YouTube as a FREE TV channel where we can advertise our companies and build our brand recognition up with a shoestring budget. As a solopreneur or small business owner, your strategy should be to use your YTC (that is, your YouTube channel) to help bolster your website’s SEO.
For example, by posting videos about Jacksonville real estate on a regular basis, prospects are more likely to view my videos, blog posts, or website if they search for the phrase “Jacksonville Real Estate” on Google. Given my topics, I don’t think too many people of the 1.2 billion YT viewers will see my videos in general, but my target audience will! And if I happen to get, say, 5,000 views, then I will feel like my keyword research and topic selections are working. 🥇
We “entrefluencers” think of our YTC as part of a marketing machine, along with Google Ads and other social media channels.
– John W. Tanner, JD|MS
Lead Nurturing.
Brand RAMP and TOMA. If these two marketing terms are new to you, don’t fret. Brand “RAMP” is an acronym for Recognize, Articulate, Memorize, and Prefer. “TOMA” stands for Top of Mind Awareness. Consider publishing new videos on a weekly basis as an excellent way to nurture & incubate your leads (Brand RAMP) inside your sales cycle, while simultaneously allowing you to stay Top-of-Mind with your current client base.
Action! Batch Your YouTube Vids Quarterly.
- 📝 Create a storyboard & script 12 commercials for the next 12 weeks.
- 🎥 Schedule your video production team to shoot all 12 video commercials in a day.
- 🖥 Outsource your post-production editing and SFX to save time.
- 📺 Hand over the content to your social media manager to upload & email your videos weekly (or DIY).
For scripting ideas, consider what your ideal client is concerned about. Look online for FAQs, see what your competitors are doing, and observe what other top performers are doing in other markets! Lastly, take time to review keywords and topics that are presently trending in your niche and/or market. Use these terms and phrases in your title and thumbnails.
Final Thoughts: KISS
Keep it simple, silly. 🤪 Jump right into the water (topic) 🏊 and get out within 3 to 5 minutes. ⏲ Keep your videos short & sweet! 💛 That’ll keep your prospects and clients wanting more! 🤩
Coming Soon: A Different Kind of “Board” Meeting – Viewers Are Transported “Behind-the-Scenes” To Have a Look Inside of Coleman Tanner’s Real Estate Team Meetings.
Winedown Wednesdays – Airing on YouTube at 6pm.
So, you’ve been working for the past three days, grinding it out, and are craving for the weekend to come sooner. Why not wind down with us, have a glass of wine (or two), and join our little weekly soiree! We’d love to have you with us (virtually). Join us Wednesdays for happy hour as we dive into a business meeting over wine and a charcuterie board as we talk about our real estate agency activities of the week and brainstorm ways to serve our clients better.
I was working on a new business that I launched in January, 2020 – Coleman Tanner Realty – and then the pandemic hit us. At first, I was frozen in fear. I had already launched the business on a shoestring budget, and now I had no idea how to develop business when I was “stuck at home.”
It has been a real challenge given the crisis we all were (and still are) in. After postponing for several months, I decided to take action to lay a foundation, build the business on it, and gain momentum along the way. I figured that since others were doing well online, that’s where I needed to turn my attention – and here’s one of the cornerstones: a “behind-the-scenes” look at what we are (and will be) doing in our business.
I know that showcasing our business strategies online is like tipping your hand in poker, but I don’t mind others using our ideas in their business because I have an “abundance mentality” – there’s enough for everyone. I hope you enjoy the show and I welcome your feedback. Thanks for watching.
Cheers!
John
Should I Pursue a Career in Real Estate?
Have you been thinking about making a career in real estate?
There are many reasons to love a career in real estate, but there are many negatives too. There’s no such thing as a “perfect” career, but if you can get to 85% (and you’re having fun), you’re doing well!
Here’s a Bird’s Eye View of 5 Benefits of a Career in Real Estate:
- Easy Entry.
- No Boss.
- Good Income.
- Flexible Schedule.
- Job Satisfaction.
- Access to Investments.
Here Are A Few Negatives of a Career in Real Estate:
- Working Beyond 40 Hours a Week.
- No Regular Paycheck.
- You Need to Spend Money to Get Started.
- Not a Lot of Repeat Customers.
- Requires a Real Estate License and CE Credits Every Two Years.
In summary, you have to weigh your options before jumping into the pool of real estate. I’ve been a student and/or practitioner of real estate for 27 years and I still find it fun and fascinating to observe the changes happening every year. If you want to know more about this career, reach out to me. John@colemantanner.com
Now Hiring: hr@colemantanner.com
John W. Tanner, J.D., M.S. 