John has been a successful real estate broker from 1992-2017. Working with an experienced network of brokers & contractors John has developed a Team Approach towards buying, rehabbing, flipping and creating portfolios of investment real estate with positive cash flow. John loves to purchase property at a very steep discount off retail values, acquiring most of his real estate in the competitive foreclosure marketplace buying wholesale what most people would say is impossible.
Don’t you want to know the process of buying foreclosed properties at auction from beginning to end? Learn the power of property default lists, the importance of working with a complete list and how to streamline your lead-generation process. John McCants shares the specifics of how auctions are run and the typical timeline that an Investor progresses through as they acquire properties through auctions. Learn how to analyze a potential deal and conduct the all-important pre-auction due diligence. Master the preparation required to safely and effectively make the right bid at auction so you take home a win. Know how to close the sale and what steps to take after you acquire the property, leaving you with the right piece of real estate to make a profit.
This Pre-Assessment is to raise awareness of your current knowledge level and give you a glimpse of the information covered in this course.
With a career spanning over 25 years and hundreds of deals, John McCants is a true real estate professional who knows his stuff.
Foreclosure auctions can be a great opportunity or a complete disaster. John defines the difference for you.
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Two of the goals of this class are to help you to learn to make money in foreclosure auctions and to help you to deepen your understanding of foreclosures.
John thought about investing for eight years before he ever began. He saw right away that he had a lot to learn and offers his experience to educate you and make your path a little easier.
Being present at a courthouse auction can be both exciting and a little intimidating. John shows a video of a live auction to demonstrate.
What types of investors will you see at a live auction? Find out who the players are so you understand your competition.
John takes you on a journey through the foreclosure timeline, from missed payments to the Notice of Trustees Sale.
More detail and clarification on the foreclosure timeline.
How does a trustee sale work? John walks you, step-by-step, through the entire operation.
How does a sheriff's sale differ from the other auctions? John has the answers here.
Some of the reasons people find themselves in foreclosure (loss of job, divorce, medical issues) are covered here.
Our instructor and live attendees share some of their investing stories.
Promissory Notes, Deeds of Trust, and other documents, that are important to the auction process, are explained in this segment.
John explains lien theory and the order of liens on a property in detail, and covers how it plays out in an auction.
More on lien theory, the order of liens on a property, and how it all plays out are explained in detail here.
Popular auctions, such as HUD, VA, Tax Liens and Deeds and others are contrasted and compared.
A discussion of what to do the day of the auction, how to decide on your highest bid amount and the best use of the property.
John gives an overview of a real property he purchased and flipped.
A walk through the previous property example, examining the use of cash vs. hard money.
John shares a second example from his past experience and explains how the numbers played out.
What kind of discount should you aim for in your auction deals? John shows you some numbers to use as a good rule of thumb.
Suggestions and tips for using your foreclosure list, like being sure that the list is accurate and current.
When touring your list, be sure to filter it by the points that are most important to you, such the as age of the loan.
Where the fun begins...This is the time to get the property story and find out exactly what you are buying.
John discusses some styles and strategies you can use when knocking on doors.
John shares some personal experiences of door-knocking.
Before the auction, you'll want to evaluate the property and remember these helpful tips.
Neighbors can be a valuable resource when seeking information about the exterior of a home. The parts of the exterior inspection listed are discussed.
You can only truly inspect the interior if you can get in. Always look for possible areas needing upgrades and note any upgrades that have been made, as well as past major issues, such as plumbing problems.
Another live auction video to help you to see yourself in the driver's seat.
On the day of the auction, you will need to do a last review of the property and run through the checklist John provides here.
John gives you a run down of what you should do when you arrive, throughout the auction process, and after the bidding is over.
Knowing your competition can help you be more successful in your auction bids.
Once you have won the bid, what do you do next?
After a Trustee Sale, it can all come down to your Cash-for-Keys agreement. Learn how to navigate this challenge in this clip.
Popular methods to use and understand the auction, such as finding out how many homes in the area are going for more than what they are worth.
John works the numbers on a real deal and gives a fieldwork assignment.
Questions from the studio audience, such as how the home owner's exemption for taxes can work. John presents another field work assignment.
John wraps up the class with some motivation and goal setting ideas.
This Post-Assessment is to measure your increased knowledge and see how much information you have retained from the course.
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