Category Archives: Tony Peters

Tony Peters and Creative Real Estate Tips

by Dave Peniuk

Julie and I recently had the opportunity to attend Tony and Jo-Ann Peters: Creative Real Estate Investing Power Workshop….yes, that’s a mouthful, but for good reason!  It was jam-packed with great strategies, advice, tips, resources, and a ton of great real examples! In this post, I am going to discuss just 2 of the many strategies one can use on the creative side of real estate investing.

2 of my favourite creative real estate tips: Long Closings and Free Stuff

Long Closings:

While I had heard of both of these creative strategies from other real estate teachers/educators before, I really liked how Tony and Jo-Ann emphasized the win-win approach to using these strategies. Long Closings, for example, is based on the premise that you tie up a property that’s for sale but the Seller’s, for whatever reason, do not (or cannot) close and move out of the property for 6, 7, 8+ months.

Image Credit: Jason Floyd

My personal favourite and one that we have encountered quite a few times already through calls we have received from our yellow letter campaign, is where the Seller is currently building a new house but residing in the house they want to sell. Rather than sell it and move into a rental for 6-12 months, you suggest they reside in their home until they are ready to move into the new one they are building.

So, why do this as a Buyer? First, it gives you time to find either a Tenant (as a rental) or Tenant-Buyer (on a lease to own), flip it to another investor or even sell it to a new Buyer. It also gives you time to line up joint venture partners and financing if that is the route you are going to.  And, the BIG bonus of a long closing is IF it’s in a warm (or even better – a HOT) market, the property may appreciate 5-10% or more during that time! Guess who gets the equity? You do! But, this generally works best in an appreciating market. If the market is flat or even worse, falling, then you could be stuck with a property that is now worth less than what you agreed to pay 9 months ago! So, make sure you do this ONLY in a market that is seeing appreciation!

Free Stuff!

Who doesn’t love free stuff? I tell you, if I could make a nickel every time I gave away free stuff (yes, then it wouldn’t be free would it? but you get the point!), I would be as rich as Donald Trump!

Basically this strategy is simply asking for something that you may want that is at the Seller’s house/property. For instance, perhaps the Sellers has a nice collector car, RV, motorcycle, or even lawn mower at their house. Why not ask for it as part of the purchase? If you can find out why the individual is selling (and where they are moving to – maybe they are downsizing into a condo?), then they likely may not need or want a lawn mower or even their nice collector car.

Sometimes there is even nice furniture that a Builder may have paid for to stage their showhome! Ask for it! We just did that very thing recently when negotiating with a Builder who needs to sell. We asked for the furniture and the Sales Agent said it likely will go. Remember, you won’t get if you don’t ask!

WHY would a Seller agree to a Long Closing or give you Free Stuff?

Again, it could be for any number of reasons. If they are building a house and the bank will only finance the construction if they sell (or have a firm Purchase and Sale Agreement in place) their current house – BINGO – this is an opportunity for the Seller to know their house will sell, the bank will finance the construction of their new house, AND they can continue to live in their current home (that they’re selling) without disrupting the family to move into a rental and then move again once the new house is built! See, win-win!

And including Free Stuff in the sale of their home can be a great win for the Seller too. For instance, as I mentioned if the Sellers are downsizing and don’t want to deal with doing a garage sale or fool around with placing ads to sell their car, motorcycle, shed, lawn mower, etc., then this is an easy alternative for them. There can, again, be any number of reasons why someone would give away Free Stuff, but they likely won’t UNLESS YOU ASK!!

So, a couple of great strategies that we “re-learned” while attending Tony and Jo-Ann Peters: Creative Real Estate Investing Power Workshop.

Remember, real estate investing can be fun and creative…not just buy, rent, sell, buy, rent, sell. If you have any other creative/interesting tips or strategies, please comment!

If you want to learn more about what Tony and Jo-Ann are teaching … check out the call we had with Tony Peters a few months ago. And if you’re interested in attending one of their upcoming workshops, give Brenda a call at their office at (780) 414-5282. Let her know that Dave from Rev N You sent you and she will probably let you bring a guest at no charge!!

Image Credit: © Dexns | Dreamstime.com

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Filed under real estate, Tony Peters

An Update from the Little Yellow Letter Campaign

by Julie Broad

I know that some folks, like Shae Bynes, are anxiously awaiting a campaign update. So … at long last here is an update …

Starting back in October of 2009 we selected a couple of areas within the city of Nanaimo that we liked, purchased a mailing list based on the postal codes of those areas and began mailing out little yellow letters. They are handwritten, simple and basically say:

“Hello my name is Rick Broad and my wife Ruth-Anne and I are interested in buying your home.”

The biggest surprise for us has been the better than 25% response rate! In some postal code areas we have hit almost a 40% response rate!! If you’re doing the math that means over 1,000 calls from the 5,000 letters we’ve sent out and my Dad has talked to most of them!! He works for a pretty low cost (ok, his labour to date has been free) and he is happy to chat with the folks that want to chat, happy to smooth out the ruffled feathers of the ones that are scared and most of all he is happy to hear about the people who might want to sell us their house!

Now … as I discussed in my post yesterday about Tony Peters’ techniques, I am not convinced that this type of campaign is really working for us. And from some folks we know that have done something similar in Sylvan Lake, AB and Edmonton, AB we understand the responses they are getting is similar.

We look forward to hearing what Tony Peters and his wife Jo-Ann do because I think that Tony really hit the nail on the head in the teleseminar we had with him on his creative real estate investing strategies when he said that this type of letter doesn’t work in all markets because it’s too personal. It gets opened but it also gets people’s defenses up.

While I agree I also know my Dad is pretty good at explaining what we’re doing. And all it takes is a simple Google search for “Rick Broad” to find their lovely Bed and Breakfast, their home phone number, mailing address and a ton of other information about them. This does provide people with a lot of comfort because they know that if we were doing something underhanded we’d probably do a better job of hiding our real identities.

Anyway … as alluded to in our previous posts about the yellow letter campaign we have had all kinds of responses from:

  • Angry folks because they didn’t get a letter but their neighbours did;
  • Scared relatives wondering why we’re mailing their Mom or Aunt or Grandparents a letter wanting to buy their house;
  • Curious people wondering how we got their name;
  • People hopeful we’re going to pay them big money to move or as Dad says to them “We don’t want to pry you out of your home with money“;
  • Two different calls from the police – both of which acknowledged we are doing nothing wrong but the second call asked us to consider stopping because they are taking a lot of calls about our letters;
  • A newspaper reporter who ended up doing a story about our unconventional deal finding methods.

Most people are genuinely curious about the letter, and after speaking with my Dad for awhile they are comfortable with what we’re doing. Many of them even want to sell us their house or even if they don’t want to sell it they want to tell Dad all about how lovely it is!

In fact, Dad’s been invited over to look at nearly a dozen homes that are not for sale just because people are so proud of their homes.

It’s really wonderful and heart warming to hear Dad recount many of the lovely chats he has had with people! And he really likes it when people want him to come over to see their garden. He never will … but it makes him feel good to be invited!

At the end of the day we’re looking for a good deal.

And what makes a good deal is that it solves a problem for the seller and gets us a property either at a price that works well or at terms that allow us to avoid bank financing.

That is the bottom line.

We aren’t trying to steal homes from people or take advantage of people. I am sure there are some real estate investors out there that are looking for those sorts of deals but that is not us.

Basically we’re looking for win win situations like:

  • Someone that needs to sell but doesn’t have enough equity to sell with a realtor. In that case we could buy the home with terms that work well for us and allow them to avoid losing money on the sale of their home.
  • Someone that has to move, wants to know their house has sold, and avoid the hassles of open houses, showings, appraisers, inspectors and a bunch of other strangers running through the house. For the convenience of knowing their house is sold, the flexibility to time the sale how they want it, and avoid realtor commission we want to buy the home for a discount off it’s market value.
  • Someone that has multiple properties they have to sell or want to sell because they are tired of being a landlord but they do not want to face the tax penalties associated with selling a bunch of assets all in the same year. In these cases we can structure very favourable deals that allow the seller to minimize their tax burden, get a good price for their properties and keep us from needing bank financing.

Of course, there are other situations that come up too, but those are the main ones we’re looking for. And we’re starting to find more and more of them!

So … our Rev N You with Real Estate newsletter readers know we’ve been working on some deals lately and we’ve gone firm on one last week and are likely to lift conditions on another one this week.

We aren’t going to give you too many details because we know for a fact that people involved in both of these deals have been checking out our website and our blog … but we will tell you a little about both deals and why we like them.

Deal 1 … newer 3 bedroom 2 bathroom rancher in a good area.

This deal has come from our yellow letter! She and her husband are moving back to Victoria and wanted to avoid the hassles of showings, inspections, appraisals etc… and really wanted to know the house was sold. The only thing that we don’t like about their home is that it’s not super close to any schools but there are plenty of children in the area so other families seem to be managing ok! Otherwise this property is a perfect one for us and will show magnificently. At the end of the day we picked it up at a price that is below market, but when you consider that it’s a pretty simple transaction for the sellers at the terms they want and they save on realtor fees I think it was a very fair deal for both parties.  And they were truly a pleasure to chat with. When we left with the signed contracts in hand it felt like we were leaving the home of a relative. Meeting wonderful people really is a nice side to this business.

Deal 2 … 4 bedroom 2 bathroom old character home in an area poised for growth

Ocean and City View from Main Floor of the Home

Dad gets a weekly email from a realtor in Nanaimo and we went to look at one of the deals that popped up on the listing sheet that week. While we were there we asked the realtor to show us any other properties under $300k that had 3 bedrooms and 2 bathrooms in our specific areas. This property was on the list. It’s been off and on the market for 2 years. We were able to gather quite a bit of information about this particular property and the owner and were able to structure the deal so it works for us. I won’t say anything more because we haven’t lifted the last few conditions yet but I think it’s looking good to buy it.  But the point to note here is that we’re not just finding deals through the letters … we continue to work with several realtors, we’ve posted signs around town, we leave our hideous looking bright orange business cards everywhere, and we’ve got online ads running on a regular basis to attract home sellers.

So the bottom line is that we’ve got a deal from the letters … a deal we’re pretty happy with. And we still have a few more that may come around to us. But there is a difference between the number of leads a campaign generates and the number of leads that convert to deals. And so far this campaign is not converting to deals. But, we’re not ready to give up yet. We just might tweak our approach based on what we learn at the upcoming Creative Real Estate Investing Workshop by Tony Peters.

The letters are extremely effective at getting the phone to ring.

And now for my favourite part … I wanted to share some of the wonderful responses we’ve received from people. These are a few of the ones that make me feel warm and positive about the people in the world.

Some of the best responses we’ve had have come in the form of nicely handwritten notes in return. It takes us back to the days before emails and computers … and it also just makes you love human kind a bit more too!! Check these two awesome letters out and my Dad’s latest stories:

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Filed under direct marketing, real estate, Tony Peters

Real Estate Investing Lesson from the Vancouver 2010 Winter Olympics

by Julie Broad

“You have to sell it to the judges!! You don’t want to think it makes a difference but throwing your arms up in the air and celebrating your run can improve your score” the commentator was explaining as we watched the women’s moguls event on the first or second day of the Vancouver 2010 Winter Olympics. That’s just the way humans are … if you don’t believe it was a good run then the judges might see that and question their own thoughts about your run.

And … let’s face it … you gotta sell yourself and your deals every day as a real estate investor. And if you’re not doing a good job with your marketing then you probably aren’t bringing home the gold.

Marketing is one of my passions. I actually get excited to put up new ads to attract tenants or tenant buyers for a property we’ve bought. I enjoy strategizing about how we’ll attract new home seller leads and I really enjoy seeing what works and what doesn’t.

I don’t enjoy skulking around in the middle of the night putting up signs though. When I do that I feel like a criminal. And I can’t stay up late enough to do it when there is very little traffic so we end up doing it around 10pm when lots of people are coming home from their evenings out and man do I feel like such a bad person when a car comes along and Dave’s not done hammering in the last nail on the sign!!

I also don’t really like it that our latest yellow letter campaign has aroused so much suspicion and defensiveness that the police are politely asking us to stop because they are getting so many calls about it.

I also feel bad that many people get defensive when they receive our lovely little note expressing interest in buying their homes.

And that is where Tony Peters comes in. Tony Peters believes 100% in marketing your way to success as a real estate investor. He also believes that the strategies so many of us have been taught by various US based experts don’t really work in our market … and probably not in every market in the United States either.

Tomorrow I will actually give you an update on our campaign so you can understand exactly what we’ve done and the results we’re getting … but for today I want to tell you about Tony Peters…

Tony, an Edmonton based real estate investor,  has done somewhere close to 300 deals in the last decade!! And he has only gone to the bank to qualify for a mortgage once … and he attributes his success in a large part to their marketing efforts!! But he approached marketing in a very different way than we did and that’s what we’re anxious to learn from him.

We got on the phone with Tony last week and talked creative real estate investing Canadian style with him! It was such a pleasure to speak with him … and we’ve got that call for you right here … go ahead and have a listen to our call with Tony Peters!

We’re going to be attending Tony’s upcoming Creative Real Estate Investing workshop in Vancouver to learn all about their strategies and their MARKETING!!!

If you decide to go please make sure you let us know so we can catch up with you!! And if you’re going sign up before February 23rd using the code ‘Rev N You’ so that you can bring a guest free!! 🙂

p.s. I know the Vancouver 2010 Winter Olympics tie in was a bit weak but I’ve been trying SO HARD to figure out how I can write about the Olympics … I wanted to write a post called OWN THE PODIUM OR AT LEAST THE LAND IT SITS ON or GOING FOR GOLD AS A REAL ESTATE INVESTOR but I really had nothing to say about those subjects … I just liked the title. GO CANADA GO!!!

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Filed under real estate, Tony Peters

No Money Down Real Estate Investing Canadian Style

by Dave Peniuk

You might remember in the fall, when I was away on a commercial halibut fishing trip with my Dad, Julie signed me and her Dad up to go to Ron LeGrand’s Quick Turn real estate investing program.

We had just closed on 2 new properties and it had been a giant pain in the butt to get financing for those deals. She thought it was time we shook it up a bit and learned some new techniques. Plus, the more we know the easier it is to help our Rev N You with Real Estate Newsletter readers!!

The program led to us send out 5,500 direct mail letters, and in general, we hammered the city of Nanaimo with our marketing message.

It also led to the police calling us and the local newspaper running a story on our unconventional deal finding methods. It’s been interesting and we’ve had fun with it for sure.

But after 3 months of intense effort we haven’t secured a single deal. We’ve come close, and by the end of February I think we’ll have at least two deals firm, but as of right now we haven’t locked one in yet.

All this led me to contact an Edmonton based guy named Tony Peters.

Tony has become somewhat famous within the Real Estate Investment Network (REIN) club I belong to. He has purchased hundreds of homes using creative strategies that require little money down and in many cases NO BANK FINANCING!!! WOOHOOO!!

The folks I know that have taken Tony’s programs or heard him speak have given him glowing reviews … they’ve learned a lot and are starting to make things happen so I wanted to learn from him and I thought you would benefit to.

I am so pleased to be able to invite you to join us on a call with Tony on Tuesday, February 16th at 6pm PST.

AND the best part … there is no charge!

AND the second best part … when you register you’re going to get a free one hour audio interview between Tony & the Vice President of REIN, Russell Westcott where you’re going to learn some of Tony’s creative strategies, hear his story and start learning so when you come to the call on Tuesday you can ask any questions that you have!

Bring your questions Tuesday night – you can speak with Tony too!

Oh, and if you can’t make the call we’ll send the replay out to everyone that registers.

By the way … thank you to EVERYONE for all your comments on the What’s Missing From This Kitchen game!! We had a ton of fun and really appreciated your participation. Check the comments to see if you’re one of the 3 T-Shirt winners that we selected!!

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Filed under investing, real estate, Tony Peters