Bill Barnett – Passive Income Opportunity Seminar Day 1

Posted on 16. Dec, 2009 by in Educational Seminars



Ok now this was the first real estate guy they had present at the Passive Income Opportunity seminar aka Never Work Again. His name was Bill Barnett (G. William Barnett II)

His big thing: Now is the single best time to get into real estate! (of course, we all know that tho.)

He calls it Real Estate NOW and NOW stands for New Order of Wealth. He says to make sure that who you’re learning your real estate stuff from is a product of what they teach. So basically they are doing in the field actively what they teach.

He’s also a fan of what he calls “rolling up” I’m pretty sure he means 1031 exchanges cause he says to start small and use it to buy bigger.

Keys to Real Estate Success
How to go from limited to success or from just plain failure to success?

Step 1- Getting your head on right
Key Question Am I going to go with the flow and follow the pack? or Am I going to realize the market we’re in and lead the pack!!!

Step 2- Shut out the noise
How to evaluate a real estate market!
Look at Job Growth- people go where the jobs are (census.gov.)
Does it have any serendipities- does it have any extra benefit? Like a beach? technology? beautiful? conventions?
Don’t listen to the media!
Shut out the bad & open yourself to the GREAT!
The great methods are the methods that are working TODAY!
**We’ll be in this state/market for the next 1 to 2 years.**



Step 3- Put into action
Action equals OFFERS and MONEY
Action also equals follow through.

Become a pro in the biz. The size of the check makes you a pro!

*Treat real estate investing as the profession it is (you should be making “athlete” money.)
*Stop making Spaghetti offers! (i.e. making tons of offers to see what will “stick.”)

How offers should break down:
Let’s take 20 houses we just looked at; do the math on all 20 houses, break down the offers after doing the math:

Screamers low ball spaghetti offers (10 of the 20 will be these) 20% or greater off of asking price.
Counters 7 or 8 of them will be decent enough that you’ll get counter offers. 10 to 20% off of asking price.
Golden 1 to 3 of them will be Golden and accepted. 10% or less off of asking price.

The counters and screamers will go in a future wealth file for you to revisit. ONLY SUBMIT YOUR GOLDEN OFFERS!!!!!

Creating Bank
Putting money together to fund your deals.


***Becoming the investment of choice (for people with money)***

Which do you do first? Make offers or get money? You do BOTH!

The 4 Questions to Becoming the Investment of Choice:
1) What’s my rate of return? (10 to 14%)
2) What’s my risk? (You have a 1st lien position in below market real estate)
3) How long is my money tied up for? (6 to 9 months, unless you choose to leave it in the deal)
4) How much money is required? (This is gonna depend on the deal you’re currently working on)

Solid Gold Script to Get Private Money
Harv, I know this isn’t for you, but who do you know, that might be interested in earning 10% to 12% on their money, secured by a first lien in below market real estate, short term 6 to 9 months?

When someone shows interest ask them the following 2 questions:
1) How much do you have available to lend?
2) How much lead time do you need to get access to the funds?

*Always use a 3rd party for your private money transactions. 1) Real estate lien note and 2) Deed of Trust*

3 areas of profit in real estate:
1) Wholesale – speed
2) Rental – passive income/never work again
3) Flips – big checks

Seller Financing(to sell your properties) *Sell your properties for 10% more by offering seller financing.)
1) Wholesale – this is your down payment that you receive.
2) Rental- this is the monthly spread that your receive.
3) Flips – this is your big check that you’ll receive in 3 – 5 years by a refinance

When you are seller financing deals for buyers charge them 8% compounded interest.
When you are borrowing money from private lenders pay them 10% simple interest.

For those of you looking for private money….how about some homework?

1) Create a HOT 100 list! List at least 100 folks that you know. Start right now with 50.
2) Use the “Solid Gold Script for Private Money” on at least 3 investors that you know with money and then use it on everyone from your HOT 100 list.

If you choose to do this….please come back here and report your results!

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4 Responses to “Bill Barnett – Passive Income Opportunity Seminar Day 1”

  1. Scott Costello

    17. Dec, 2009

    This guys sounds like he was trying to sell a system. That’s half the reason why I stopped going to my REIA in the area. Everyone was pitching a product, even the founder.

    Anytime a speaker as special “Phrases” to describe a part of real estate, he’s pitching a product. Funny some of the things they come up with.

  2. Flippin' Carey

    17. Dec, 2009

    Hey Scott…

    You’re actually right, he was trying to sell his course. At first that’s what I did not like about this seminar at all. I’d say 90% of folks were trying to sell a course. It was so fkn annoying to me.

    But then I just relaxed and thought about it and as I get more into the presenters you may realize like I did that even though most of the folks are trying to sell a course that a) I didn’t have to buy it and b) most importantly I am being introduced to a passive income opportunity that I didn’t know about before.

    A lot of folks were offering partnership opportunities. Like for instance, they had an australian company that would let you get in on the wave of australian atm’s because it’s such an untapped market there. Kathy and I were SUPER excited to hear about this until we learned how much their atm’s were :-) But there were some pretty good opportunities presented that you could act on now, think about and decide how to incorporate them on your own when you’re ready or you could just pass.

    So I was pissed in the beginning about all of the selling but then I learned to make the best of it…..plus, the networking with other like-minde

    Don’t be turned off…..there’s some good posts yet to come and I’m not trying to sell ya nothin! lol

  3. Mini Bass Guitars

    27. May, 2010

    We’re a group of volunteers and starting a new initiative in a community. Your blog supplied us important information to work on. You’ve done a marvellous work!

  4. Flippin' Carey

    27. May, 2010

    Welcome and thank you. Good luck with your work! Let me know if you need any more information.

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