How To Perform A Real Estate Farm: Fill & Download for Free

Here is what you do:1) Take a real estate course for 500 dollars and get your license to be an agent. When you’re done with that, spent another 500 dollars to take the home appraiser’s course. You’ll learn sooo much about how to value property and land. Google or finagle a copy of Marshall and Swift’s Guide to the construction costs per square foot in any region of the country. Being able to value property shrewdly is the key to success.2) Go to work for a broker for 3 years and learn the ropes of MLS and the scams of the NAR. Pay your malpractice. Learn where the best deals are because you’re an agent.3) Become a real estate broker and hang your own shingle, undercut the other brokers in the region by paying your agents more so they want to work for you. You’re in it for the long haul, not the short term. Once you have your broker’s license and have agents working for you, you’re eligible to make serious money for doing next to no work. You’ll have plenty of time to seek, buy, rehab and rent/sell new properties.4) Somewhere between Steps 2 and 3 above purchase a multi-family house. Live in one of the units. Rehab the others. Rent them for more than the mortgage to make a profit. Always seek to improve equity and drive up the value of the house. You need how to learn how to be “handy” and that means getting dirty, sweating copper or gluing PVC, replacing a toilet or throwing up sheet rock. You’re GC can do it all for you - at the expense of your profit margin. So you can’t be afraid to get your hands dirty if you have to.5) Make friends (and I mean good friends) with a contractor/partner and all of the building inspectors, code enforcers, town planners and so forth in your area. You want them looking out for you even when they don’t know they are doing it. You want them to tip you off when something big is happening, a new development, etc.6) Partner with a contractor working on a major ant-farm development and try to become the exclusive agent/broker or at least the contact or major broker for the ant-farm.7) As soon as it becomes viable, buy another multi-family home and move into it, thus opening up all the units in your previous home. Consider condo conversion and selling to maximize profits. Then keep doing it and acquire more properties. Use the equity as leverage to make down payments on future homes. Buy out foreclosed mortgages, make the minimum of repairs and sell the house. Remember that in home flipping, it’s all about the time value of money. It’s more important to get out fast than to make a huge killing. You need to keep moving. Keep buying houses when you can afford to.8) Never, ever forget that location is what’s important. If you’re selling to a sucker, play up the value of the house if it’s in a shitty location; if you want to move a property for a smart person play up the value of the location. Always remember that a shitty house in a good neighborhood is almost always better than a great house in a shitty neighborhood, especially if you’re buying for yourself.9) Never, ever fall in love with a property. Get in, make it do it’s job, and get the hell out. Once you fall in love with a property it becomes a boat anchor.10) Live way, way below your means. Save your money for down payments for new properties. Forget about big cars and luxury machines or swimming pools. Those things are anchors that hold you back from achieving your longer term goals. You can have those things later.11) Be constantly on the lookout for the opportunity to refinance and consolidate your loans to lower interest rates and longer periods. Try to consolidate your loans onto as few properties as possible, using them as levers. You always want to be looking for ways to create capital so you can purchase additional properties.12) Have a wife or partner you really trust to take care of the business side. You almost can’t do this at the beginning without someone to help you a little. Once you get big enough you can hire a management company (or create your own) to collect the rent, smack around deadbeats and make shoddy repairs.13) Somewhere along the line it’s a good idea to get a spouse with a “regular” job who can act as your co-signer, health-insurance provider and income provider for banks and finance people. Self-employed people have more trouble getting loans and credit than people with “regular” jobs so it’s good if you have a spouse who can provide that resource as a back-up.14) Never forget the adage, “When there’s blood in the streets, buy stock.” In this case, when there’s a turn in the economy, real estate prices will fall and you can pick up bargains. Keep a cool head and believe things will get better. Watch for the fundamentals (especially location) and you can profit greatly on other people’s misery.It’s not that hard to become a real estate mogul and it’s a great way to make a lot of wealth - not just money - in the long term, but it’s not something that pays off right away. You have to have a goal and set a time limit, for example, when you hit age 35, when you will stop, take stock and liquidate to finally realize the profits of what you’ve been doing. You don’t want to be moving from one cheap hovel to the next just to save a few thousand dollars for your entire life and if if you are living the cheap life to finance the next house purchase then it’s a hard and miserable existence. You need to decide how much is enough and when you want to get out and enjoy life while you’re still young. Don’t let the game become your life. Life happens when you’re doing something else.

I am assuming this has been asked as a guesstimate question:Lets start with the formula we can use to estimate this:(Area covered by streets in India) * (Percentage of street area containing street lights) * (Avg. number of street light in the area/Km^2)Lets float some numbers now:Total area of India is: 3.28~3.3 million Km^21. Area covered by streets: .66 million Km^2(Real Estate+Farm Lands+Streets)Assuming real estate to be most of the area followed by farm land (including barren land), I'll divide the area into 50%, 30% & 20%. So, we have total street area = 3.3*20% = .66 million Km^2.2. Percentage of street area covered by street lights: 30%For this I would assume 70%-30% division of people in villages and cities.Lets take into account 60% in tier 1 (10% of overall cities) cities, 40% in tier 2 (70% of overall cities), 10% in tier 3 (10% of overall cities) and 10% in other small towns (another 10%).So, we have 6%, 28%, 1%, 1%. Adding them up and rounding them off to lower number owing to poor infrastructure and an increase in assumption of total area in India. We assume total as 30%.3. Avg. number of street lights per unit area: 2100Assuming avg Width of street containing 1 fleet of street lights is: 10 m = .010 KmNumber of Street lights per Km = 2 (Factor of two coz number of street lights at one spot)* [1000 m/ Distance between street lights (50 meters)] = 40.So, Avg Street lights per unit area: 20/.010 = 2000/ Km^2I will spike this number up by 5% considering flyovers, Multiple lane expressways making it to be: 2100/ Km^2.So, Putting it in formula: (.66 million Km^2)*(30%)*(2100/Km^2)= 415.8 million

There are many avenues to generate leads and I would recommend that you pursue them all simultaneously. My husband and I picked up and moved to Austin with no network to speak of and sold put $10M in real estate under contract last year, mostly with clients who were complete strangers before we started working together.Our business came from multiple avenues. Open houses, Zillow and Trulia leads, cold calling, meeting people at bars and restaurants, our group of friends that we made after arriving, and listings. I'll add a few sentences below about each.Open Houses: Before we had any listings, we would contact agents with listings in the area we wanted to work in most, and ask if they would let us do an open house for them. They said yes a surprising amount of the time. We focused on homes that were vacant, so we wouldn't disturb the occupants. We put a preference on homes in a location that was good for signage and foot traffic, and homes with good photos so we could advertise it effectively. We put out 20-30 signs for all open houses. It's most effective to have lots of signs in a small radius, like 3-4 signs at each corner, for example. We made sure to preview the competing homes in the neighborhood so we could intelligently about the area.We still aim to hold 1-2 open houses per week, whether on our listings or others. When visitors walk in, I introduce myself, get their names, and say something like "Thanks for coming by. You guys take a look around, I'll be here if you have questions, and I'll grab you before you leave for some quick feedback for the sellers. By the way, are you working with anyone I should let them know you stopped by?" This last sentence is very important. I started asking this after I had a few experiences of talking to a couple for 20 minutes, thinking "This is going great!" only to have them say at the end "Great, we'll definitely tell our agent about this!" In the meantime, 3 other couples came in and out that I couldn't talk to. So I learned to find out up front if they were already working with anyone. Remember, the point of an open house for you as an agent is not to sell the house you are holding open. If that happens, great! I've never had it happen to me. The point is to meet new clients. The added exposure for the home is a great bonus, making the opportunity a win-win even if it isn't your listing.Zillow and Trulia: The best and cheapest way to advertise on Zillow and Trulia is to have listings you can "feature" so you are the only agent appearing next to the listing. Before you have listings, you might consider investing in paid advertising on Zillow. I did about a third of my business last year from paid Zillow leads. I'll give two cautionary notes, though. First Zillow advertising is expensive. Don't start paying for it until you are VERY COMPETENT talking to strangers on the phone. Start by posting on Craigslist and talking to those leads, which are much cheaper. Once you have developed good phone skills, then you might be ready to commit hundreds of dollars a month to Zillow, but not before. The second caution is that Zillow has changed some of its policies in recent months which I believe are making their paid advertising less effective for agents. A huge number of scam listings and a questionable method of counting and charging for "impressions" are both factors. As a result, I am reducing my Zillow spend as quickly as possible. Happy to share more details if you're curious.Cold Calling: As I mentioned in the section on Zillow/Trulia, getting comfortable on the phone is very important. It might take hundreds of awkward phone calls to get there, but the payoff is huge. Good phone skills are more and more rare, especially among younger people who prefer texting, and all employers value someone who can competently make a phone call. Start by cold calling whoever you can find that has expressed a need for help in real estate. For Rent by Owners, For Sale by Owners, Housing Needed ads, etc. These can be found on Craigslist, Hotpads, Trulia and Zillow. This will be awkward at first, but pick up the phone and call them. You'll get better by trying and failing than you will by studying scripts endlessly. Scripts are useful, and you should learn some along the way, but put a priority on just getting on the phone. Take notes on what works and what doesn't. Ask yourself "What did I say that caused that person to hang up instead of continuing to talk to me?" And always talk to the person on the other end of the phone like a normal human being. Don't say things like, "You would like to get the most money for your home, wouldn't you?" Those kind of hard sell lines are ridiculous and make you sound obnoxious. And it pisses off the person on the other end of the phone. Focus on the question "What can I do to help this person?" And ask them lots of questions about themselves, their goals, their plans, what they're struggling with. Your goal is to find out if you can help them, and if you can, to get a meeting. It's possible you can't help them. If so, politely end the conversation and move on.Meeting people at bars etc: My husband and I enjoy good food and wine, and as a result spend somewhat exorbitantly on restaurants. We allow ourselves to do this because we enjoy it so much, but also because we frequently meet new people. We make a habit of sitting at the bar or at communal tables at nice restaurants and getting friendly with the people around us. As with cold calling, be a normal human being and talk to your new acquaintances like normal human beings. Don't be a sales robot. Have other hobbies, interests and stories to tell, and mention what you do for a living if and when there's a natural opening.Listings: Listings are an excellent lead generator and I think a lot of agents don't take proper advantage of the opportunity. Last year, my team did 3 deals per listings. That's the listings itself, plus two new buyers closed afterwards. We advertise our listings as widely and aggressively as possible, which is good for our sellers since it generates lots of interest, and good for us since it brings new buyers. We hold open houses, make sure to have beautiful professional photos, blast the listing all over the internet and social media, send out mailings to our farm area, add it to our newsletter, post it on Craigslist, put it in the newspaper... Anywhere that it conceivably can be advertised, it's advertised. Then, as buyers start to call off the sign, off an ad, off Zillow, walk into the open house, I find out if they're already working with an agent and, if not, offer to help them.Good luck! I hope this helps! Please feel free to send me a message here on Quora or on my Zillow Profile. I'd love to connect.