Saturday, January 19, 2013

Today's Orientation to REAPS

6:07 PM

Another successful orientation for new real estate investors to the membership benefits and resources of the Real Estate Association of Puget Sound (REAPS). Approximately 30 new investors attended today's free training in the Lake City neighborhood of Seattle. As volunteer membership coordinator for REAPS, I have been responsible for organizing this quarterly event for the past three years.

I collected ten of the evaluations submitted by today's attendees, but there may have been some that were handed in after I left. Overall, we got excellent ratings on how easy were the topics to understand (3.8 out of 4.0), suitability of content re: learning more about REAPS (3.9), topics covered in sufficient detail (3.9), and overall rating of all topics (3.8). Everyone would recommend this meeting to others, and some of the specific written comments included:

"All presenters were very well-spoken and knowledgeable. I'm motivated and can't wait to get started!"

"Mike's bit at the end w/2 simple strategies and a call to action was great. Consider making that a regular part of the Orientation agenda."

Mike Sumsky's session at the end of the meeting lasted one hour. While not strictly REAPS orientation, it is the kind of training and overview that new investors need to take the tools they just learned and start to apply them. The responses indicate that new investors want this content - but whether or not they would pay to receive it is unknown. Approximately half the audience stayed 1/2 hour past the scheduled end time to attend.

Mike gave an overview of various techniques he uses to purchase properties for residential flips. He then gave the following assignment for participants to speak with 3-5 sellers, each and every week. He recommended using Craigslist to find sellers.

He asked participants to ask the sellers these three questions:
--How long have you owned the house?
--Why are you selling?
--If I paid cash and could close within two weeks, what is the lowest price you would accept?

I also offered participants the opportunity to meet with me and my business partner Bob Malecki during our office hours in downtown Seattle next Wednesday to discuss investment goals and opportunities.

The next FREE REAPS orientation will be scheduled in March. In the mean time, don't forget to download your copy of my eBook "Doing Your First Deal" from Amazon, free through tomorrow only! Otherwise, just $2.99.

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