Auctions Analysis

Increase your success by mastering Auction Analysis, including  prioritization, research, estimations and putting in your bid.

34
Hrs
Mins
Secs
06
11
41
Segments Duration
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INSTRUCTOR

Darren Davis

Darren went from jobless to a $3,000,000 profit in seven years–all from flipping real estate! As an eight-year veteran of Real Estate Investing, Darren Davis has completed over 200 real estate transactions in single- and multi-family residences and commercial land development. He is a national instructor to thousands of real estate investor students, and is happy to share his exact business model with you. His purpose is to teach others how to create their own success.

Description:

Everyone wants to know how the Student becomes the Master. Darren Davis chronicles his journey from student to master real estate investor in this dynamic and detailed class. Darren shares how laser focus on just one aspect of the Auctions process, the property analysis, made the difference in his investing career. Darren has analyzed literally thousands of properties and purchased hundreds on his journey to financial freedom. Learn “the” method and how to PREP for the auction by Prioritizing, Researching, Estimating and Putting in your bid on potential investment projects. Darren shares his highly personalized spreadsheets and shows how you can build automation into your research to evaluate a much higher number of potential investments while saving time and learning to discard quickly the ones that don’t meet your portfolio requirements. Learn how to find local online resources that literally allow you to research hundreds of properties in a day. Know how to determine your max bid to win more auctions, and how to build contingency planning into each deal. Get insider tips on how to conduct visual inspections of the properties before you buy and identify hidden pitfalls that catch every novice investor. Darren also shares what to do after you have won the property and how to jumpstart your flipping, wholesale, or buy and hold strategy.

  • 01

    Pre-Assessment

    This Pre-Assessment is to raise awareness of your current knowledge level and give you a glimpse of the information covered in this course.

  • 02

    Intro and Instructor Background

    As a "numbers guy" who has analyzed thousands of deals and purchased over 200 properties (over half at auction) Darren Davis is uniquely qualified to instruct this class.

  • 03

    What is an Auction?

    Darren challenges you to adjust your mindset and discover the reasons why auctions could be the right platform for your investing.

  • Show all 34 segments

    • 04

      Where and When do Auctions Happen?

      The where, when, and how basics of auctions are outlined here.  What are your reasons for using the auction strategy?

    • 05

      Prepare and Prioritize

      Preparation is key to success in the auction strategy.  Darren provides an outline to get you started.

    • 06

      Prepare and Research

      Darren walks  through the basics of an auction analysis and provides formulas to help you crunch the numbers.

    • 07

      Analyzing the Market Area

      Darren shows you what steps you should take when interested in an area, to analyze the market and get your information straight.

    • 08

      Gathering Opinions and Considering the Market

      It's not just about the facts. What opinions are key to analyzing your potential property?

    • 09

      Five Costs

      The 5 basic costs to keep in mind when analyzing a property, beginning with acquisition costs and exploring four more costs you need to know.

    • 10

      Research Costs Continued and Property Auction Template

      Always be sure to educate yourself as much as possible, but don't over-analyze.  Beware of anlysis paralysis.

    • 11

      Prepare Estimate Repairs

      While we want to be sure to gather the most accurate numbers possible, we will often figure them from assumptions and estimations.

    • 12

      Prepare Case Study

      What would you do in this specific situation? Walk through a case study with your instructor and studio audience.

    • 13

      Prepare Case Study Taking Pictures

      What pictures do you need when preparing for an auction?  Darren gives you some tips on collecting the necessary images.

    • 14

      Prepare Case Study Taking Pictures Continued Actual Perceived Value

      What is the difference between actual and perceived value?  Darren gives some tips on creating the best value in the eyes of the prospective buyer.

    • 15

      Case Study Taking Pictures, Continued

      Our instructor continues through the case study and covers the details of what was done to prepare it for sale.

    • 16

      Case Study 2

      Let's take a look at another real life case study.  What would you do?

    • 17

      Case Study 2, Continued

      Darren walks through this case study and breaks it down to simple, understandable pieces of information.  Even when the situation looks ominous, surprises can be in store.

    • 18

      Question and Answer

      Some audience questions are answered, such as the type of appliances Darren uses in his properties.

    • 19

      Estimating Repairs from the Curb

      How can you get an accurate estimate when you cannot walk through the property? Darren discusses the options available in this situation.

    • 20

      Case Study 3

      The instructor and class walk through another real life case study.  What would you do?

    • 21

      Case Study 3 Repair Costs

      Understand the purpose and importance of each repair cost in this break-down of the repair costs for case study 3.

    • 22

      Case Study 4

      This case study will challenge you to look at an investment opportunity from an entirely different perspective. Is it worth it?

    • 23

      Case Study 4 Value of the Pool

      How much is a pool really worth in your estimate?  Darren walks you through the numbers he has calculated  up to this point for case study 4.

    • 24

      Case Study 4, Continued

      A closer look at the numbers involved in making decisions about the property.

    • 25

      Case Study 4 Continued Repairs

      Sometimes the estimated repair numbers are not quite what you expect. Darren gives direction on what to do when this happens.

    • 26

      Case Study 4 Being Profitable

      How can you make a profit when your property is full of surprises?

    • 27

      Always Drive Your Houses

      What's the last step? Right before you go to the auction, make sure you drive the property.  Circumstances can change overnight.

    • 28

      Put in a Bid

      Now that you have your numbers together and have seen the property, how do you place the bid?

    • 29

      Online Auctions Continued

      Auctions can happen anywhere - even online.  How should you prepare differently for an online auction?

    • 30

      Buying at Auction Next Steps

      Now that you have placed your bid and purchased the investment property, what are your next steps?

    • 31

      Discussing Cash for Keys

      If the house is still occupied, you will need to discuss a cash for keys agreement with those living there.  Darren guides us through the best methods for handling this situation.

    • 32

      Is the House Really Vacant?

      Beware of getting sucked into the emotional stories and lives of the inhabitants. How to move forward with evictions once they have begun.

    • 33

      Auction Analysis Recap and Closing Statements

      Remember, you are now a prepared professional.  It's time for you to prioritize, research, evaluate and put in your bids.

  • 34

    Post-Assessment

    This Post-Assessment is to measure your increased knowledge and see how much information you have retained from the course.