• What would this mean for the real estate industry?
• Could I grow even more?
• What should I do?
• Was now the right time to invest in my business?

Luckily a close friend and business associate emerged in the form of a partnership with Olympia Marketing a marketing firm & ad agency based in Fort Myers & Naples and its founder Zach Katkin. We met one afternoon at Panera at Coconut Point and talked about business and marketing. I was hesitant to ask myself questions like:

• Could I really afford to invest in this?
• If I invest what would my return be?
• How long would it take to understand my business and implement these suggestions and actions?
• Does this guy have experience in real estate?

Although I was a little hesitant at first, I ended up pulling the trigger, and now, nearly 3 years later, I am elated to share that this collaboration has resulted in our business quadrupling. In hindsight, I couldn’t afford NOT to invest in this. We had some ups and downs, and at one point, I realized I was the limiting factor in terms of my own ability to handle EVERYTHING at my business (I’ve since tripled staff in order to accommodate the business).

It didn’t take long at all to begin seeing results and – as I would come to find out – yes this guy knew real estate EXTREMELY well – having worked with virtually every major brokerage in the area, developing SAAS tools for the industry, including developing and marketing all of Kitson & Partners’ properties – notably personally running all of Babcock Ranches pre-launch and post-launch marketing and advertising.

As a side note here – the relationship itself has paid off in spades and between the company founder and close relationships it’s directly led to dozens of transactions, over and above the actual marketing we’ve done together. Literally partnering with a professional firm has led to more business return (in actual commissions from his own projects and his friends/family) than the expense has been for all of the marketing. It PAYS to work with great professionals has been my take away.

So what did we do as far as Real Estate Marketing?

Understanding the Business

Before diving into strategies and tools, Olympia Marketing and Zach took the time to thoroughly understand my business and what I was trying to accomplish. Sure there are a lot of commonalities between businesses in this space, and having a knowledge of real estate helped save time (and was valuable as far as suggestions) but every company is different, every founder has different goals. Also, my goals at the beginning of the process aren’t the goals I have currently. They didn’t just look at numbers and charts; they took a deep dive into our ethos, our offerings, and our target audience. It was this foundational understanding that laid the groundwork for everything else.

Forming a Strategic Plan

Armed with this understanding, Olympia Marketing charted a strategic plan, tailored specifically for KnowledgeBase FL. Instead of a generic, one-size-fits-all approach, we received a roadmap crafted uniquely for us. This plan was comprehensive, covering everything from digital marketing strategies to optimizing the customer journey.

The Right Tools for Measurement

One of Olympia’s strengths is their emphasis on measurability and return on investment. As I’m sure many of us know (especially in Real Estate) agents and those that service them aren’t always the most “bottom-line oriented” – but Zach and his team are. Nothing matters if it’s not leading to measurable results. They introduced tools that not only captured metrics but did so in a way that provided actionable insights. Every step, every campaign, and every strategy were tracked meticulously.

Executing, Measuring, and Refining

Once the plan was set and tools in place, we started executing. But unlike previous marketing efforts, this was dynamic. We weren’t just setting things in motion and hoping for the best. Regular reviews with Olympia ensured we measured progress and outcomes continuously, adjusting and refining our strategies in real-time. This iterative process ensured we were always on track and maximizing our ROI.

The Challenge of Scaling

As business started booming, an unforeseen challenge emerged: scaling our staff to handle the influx of new business. The surge in demand, while welcome, was unexpected, and we faced the daunting task of hiring and training new staff efficiently. Olympia Marketing, ever the reliable partner, provided valuable insights into streamlining hiring processes and onboarding new members, ensuring we didn’t compromise on service quality.

The Road Ahead

Today, KnowledgeBase FL stands transformed. Our collaboration with Olympia Marketing has not only bolstered our profits but has also enriched our understanding of effective, data-driven marketing. We’ve learned that in a world filled with uncertainty, having the right partner can make all the difference.

To Olympia Marketing – thank you. Here’s to more milestones and successes together!

1. Researching the Market:

Before diving into the buying process, it is essential to conduct thorough research on the local real estate market. Familiarize yourself with the foreclosure inventory, pricing trends, and specific neighborhoods where foreclosed properties are available. This knowledge will enable you to make better-informed decisions when it comes to selecting the right property.

2. Financing Options:

Foreclosure purchases often require cash or pre-approved financing due to the unique nature of these properties. Contact lenders who specialize in foreclosure transactions to explore your financing options. Preparing your finances in advance will give you a competitive edge when making an offer.

3. Identifying Foreclosure Listings:

There are various sources for finding listings. These include public auction websites, real estate agents, banks, and government agencies. Compile a list of potential properties that match your requirements and budget.

4. Inspecting the Property:

Before submitting an offer, conduct a thorough inspection of the property. Due to the nature of foreclosures, they are typically sold as-is, meaning they may require significant repairs or renovations. Hiring a professional home inspector can help identify potential issues and estimate repair costs.

5. Hiring a Real Estate Agent:

Working with a knowledgeable real estate agent experienced in foreclosure transactions is highly recommended. They have access to a wider range of foreclosure listings and can guide you through the entire buying process, including negotiation and paperwork.

6. Making an Offer:

Once you have identified a suitable property, it’s time to make an offer. Conduct a comparative market analysis to determine the fair market value of the property and base your offer accordingly. Keep in mind that foreclosure sales are often competitive, so be prepared for potential bidding wars.

7. Due Diligence:

If your offer is accepted, it is crucial to conduct thorough due diligence. This includes reviewing the title history, checking for any outstanding liens or encumbrances, and ensuring the property’s legal status. It is advisable to consult with a real estate attorney to ensure a smooth and legally compliant transaction.

8. Closing the Deal:

Once all the necessary inspections and paperwork are complete, it’s time to close the deal. Ensure that all required documents are in order and that the necessary funds are available to complete the purchase.

Conclusion:

Purchasing a foreclosure property can be a profitable venture if approached with the right knowledge and strategy. By conducting thorough research, understanding the foreclosure market, and following the steps outlined in this guide, you can increase your chances of successfully purchasing a foreclosure property and taking advantage of the potential financial benefits it presents. Remember, patience and due diligence are key when navigating the foreclosure buying process.

If your looking to purchase a foreclosure remember to contact Kevin Bartlett, 239.977.5642 or email him at kevin@kevinwbartlett.com.

Visit http://cobiaholdings.com for off-market properties.

For six generations, the Freeland family has been thriving in Southwest Florida. Ben Freeland wants to continue that tradition by redeveloping Moss Marina and rebranding it as Arches Bayfront on the bayside of Fort Myers Beach. 

The idea to transform the 4.5-acre site from boat storage sheds into boutique hotels, restaurants and retail began percolating even before Hurricane Ian slammed into the area Sept. 28. After the hurricane wiped out about 6,000 waterfront area hotel rooms, the idea accelerated over the past six months.

“We were looking at what we wanted to do pre-hurricane,” Freeland said. “The hurricane changed everything in a day. We’ve been here a long time, and we have a great piece of property that’s made for this. We’re in the perfect spot for redevelopment.” 

He would have to get the land rezoned by Town of Fort Myers Beach to be allowed to build up to 400 hotel rooms. Freeland envisions having two to three concepts with boutique-style hotels. Freeland held a public workshop Friday at Pink Shell Beach Resort & Marina that drew the attention of Fort Myers Beach Mayor Dan Allers. 

“It’s encouraging [that] people want to invest on Fort Myers Beach,” Allers said just before a PowerPoint presentation of Arches Bayside. “Right after Ian, everything was an unknown, but now we’re on a pretty clear trajectory. Now, we get to see what it’s going to look like.” 

Final drafts were revealed of the concept during the Friday public forum, with renderings showing arches integrated into the architecture and a public-access pedestrian path along the bayfront. 

“We want to integrate the local history as much as we can,” Tachieva said, referring to the name of the project itself, as a pair of stone and coquina arches once welcomed visitors to Fort Myers Beach from 1924 until they were removed in 1979 to build the Matanzas Pass bridge.

“We are trying to create a continuous linear park,” she said. 

The goal is to create a walkable, bikeable development that integrates the bayside hotel development with Times Square and the rest of the beach.” 

Freeland also enlisted traffic expert Rick Hall of Hall Planning & Engineering. Narrow streets, street trees, sidewalks, on-street parking, lower traffic speeds, small block size and buildings fronting the street all would help to create the walkable concept, said Hall, who was on hand to assist Tachieva’s team during its charrette. 

“We put together a world-class team to do this,” Freeland said. “We want to do it right. We want to do it in an appropriate way that’s walkable and friendly.” 

Know why you want to sell: Before you decide to sell your home for cash, think about why you want to do it. People usually choose this option because they need money quickly or something big has happened in their lives, like:

• Their house might be taken away because they can’t pay for it
• They’re getting divorced
• They got a house from someone who passed away
• They lost their job or need to move for a new job
• Their house needs big repairs they can’t afford

Find good cash buyers: Make sure to look for cash buyers who are honest and have a good reputation. Look for companies with good reviews from people who have sold their houses to them before. If you google “How to sell my house fast for cash in Naples” for example you’ll see a number of local whole sale real estate businesses that will buy your home for cash.

Know how much your home is worth: Before you say yes to a cash offer, figure out how much your home is worth and if there are any repairs needed. Cash buyers usually buy houses “as-is,” which means you don’t need to fix anything. But their offer might be lower than what your house is worth, so think about whether you’re okay with that.

Cash sales can be fast and easy: One of the best things about selling your home for cash is that it can be quick and simple. Cash sales can be finished in just a few days or weeks, compared to months for a normal sale. This can be helpful if you need money quickly or have to move fast.

Get ready for a fast closing: Cash sales are usually faster because there’s no need for a bank to approve a loan. Make sure you’re ready to do all the paperwork and other things needed to finish the sale.

Selling your home for cash can be a good choice if you need money quickly or have a big life change. Think about why you want to sell, find good cash buyers, know how much your home is worth, and be ready for a fast sale. Talk to a real estate expert to make sure you’re making the best choice for your situation.

Evaluate your home’s value and cash offer before accepting a– say after you’ve done a search .

1. How much can I afford to spend on a home?

Answer: Ultimately, how much you can afford to spend on a home depends on your financial situation and how much you are able to borrow. It is important to consider the costs of owning a home beyond the purchase price, such as closing costs, insurance, taxes, utilities, and monthly maintenance fees.

2. What type of mortgage should I get?

Answer: The type of mortgage you should get depends on your financial situation, including your credit score, income, and down payment. Some mortgage options include conventional, FHA, USDA, and VA loans. It’s important to research the different types of mortgages to determine which one is best for you.

3. How much money should I put down?

Answer: The amount of money you should put down as a down payment for a home depends on the type of loan you are getting, as well as your financial situation. Generally, it is recommended to put down at least 20% of the home’s purchase price to avoid paying private mortgage insurance.

4. What is a pre-approval?

Answer: A pre–approval is a written commitment from a lender that states you are approved.

Do you have more questions? We are more than happy to help answer them at 239.977.5642

It is important to know who to call and what to say in an emergency, situation especially down here in Southwest Florida with our storm season. When the time comes, ensure that you and your family are prepared by keeping a list of all important phone numbers in one place. Here is a quick list below:

????Make sure all bank accounts have direct beneficiaries. The beneficiary need only go to the bank with your death certificate and an ID of their own. 

???? TOD = Transfer On Death house deed if you own a home. Completing this document and filing it with your county saves your heirs THOUSANDS. This document allows you to transfer ownership of your home to your designee. All they need to do is take their ID and your death certificate to the county building and the deed is signed over. Doing this will avoid the home having to go through probate. 

???? TOD = also Transfer on Death your auto title(s). You can do that too.  All these things will help your heirs avoid the probate process!

????‍????‍????‍???? Living Will:  Allows one to put in writing EXACTLY what you want done in the event you cannot speak for yourself when it comes to healthcare decisions as well as other final decisions. 

????????‍ Durable Power of Attorney: Allows one to designate a person to make legal decisions if one is no longer competent to do so. 

???? Power of Attorney for Healthcare:  This document allows one to designate someone to make healthcare decisions for their person. 

???? Last Will and Testament:  Designates to whom personal belongings will go too.

???? Funeral Planning Declaration:  allows one to say exactly one’s wishes as far as disposition of the body and the services. 

     If the above documents are done, you can AVOID probate. 

     If all the above is not done, you have to open an estate account at the bank. All money that doesn’t have direct beneficiaries goes into this account. You have to have an attorney to open the                 estate account. The attorney also has to publicize your passing in the newspaper or post publication at the county courthouse, to allow anyone to make a claim on your property. – It’s a complete       pain. 

????  ???? Make a list of all banks and account numbers, all investment institutions with account numbers, lists of credit cards, utility accounts, etc. Leave clear instructions as to how and when these things are paid. 

???? Make sure your heirs knows where life insurance policies are located. 

???? Make 100% sure SOMEONE knows your Apple ID, bank ID account logins and all passwords! A password keeper will streamline that – only one password needed to access all accounts. 

???? Make sure you have titles for all vehicles, campers, etc in the SAME PLACE. 

Set up a trust for intended beneficiaries that are too young, and appoint a trustee of said trust.

One thing we can’t forget to stress is to talk with those closest to you and make all your wishes are known. Talk to those whom you’ve designated, as well as those close to you whom you did not designate.  Do this to explain why your decisions were made and to avoid any lingering questions or hurt feelings. We hope this quick list lights a spark to encourage all your friends and family to take care of these things to make it easier for those we all leave behind. 

Initial Consult

Sit down and discuss exactly what you are looking for this can be over the phone, via video chat, or in person. This is part art, part science – getting inside your head to understand your exact needs, understanding your circumstances (financial, home life, family plans, and more). I combine both exactly what you are looking for, with my experience and your future plans to provide you suggestions.

Generally, I’m able to meet with new clients within 24-48 hours of you reaching out.

• Setup Backend System – I use my website as my tool to manage clients, this allows me to set you up with e-alerts when properties that meet your criteria hit the market, so that we can move quickly when the time comes. I encourage clients throughout this process to continual use Knowledgebasefl.com your primary search tool to find properties, as we have the most up to date information from the MLS (home listing service that all realtors use.

Financing

No matter what you’re doing, where you are, we must setup financing immediately. Whether you already have financing with your preferred bank, are paying cash, or aren’t sure where to begin with this – me and my team can help. I have a network of mortgage brokers and lenders who you can work with to guide you during the process.

Right now, based on historically low interest rates for mortgages, most of my clients are opting to take out a 15- or 30-year fixed rate mortgage for their first home. This process is pretty simple, and involves either working with your bank, or my financial network, applying for a loan, and getting a pre-approval letter. Similar to the process of buying a car – a pre-approval letter authorizes you to spend up to a certain dollar amount – and is included in our offers when it comes time to make one. Without this step we can not and should not move on to any steps as I often see deals fall through when this isn’t setup and we need to wait to get it done. Additionally, with the speed of today’s market, as well as the limited inventory, we can not keep sellers waiting or do financing contingencies. Your bank, or my mortgage partners will advise you on specifics as far as what kinds of products work best for you, but new home buyers have options for little or no money down mortgages, which help ease the burden – and provide a great safety net – for you to not have to fully part with your cash for a down payment.

The financing part of the new home buyer process generally takes from 2-6 weeks depending on the institutions involved and your unique situation.

Although the current market has had stories about only deals going through that are all cash and 20%+ over asking price, this isn’t always the case. I’m continually helping clients get into new home, under ask, with financing. I hate to see clients find a home they love, make an offer, only to have it rejected. That’s why having the financing up front is going to be the most important component to getting the home you want.

One final thing to keep in mind – during the course of the offer/acceptance period we will be making an escrow payment to the seller as a sign of good faith, so in addition

Tips – I’m not a financial advisor, but having worked on hundreds of homes over the years here are some basic tips to consider prior to starting this process:

• Play the credit game – the higher your credit score, the lower your rates are going to be, and the less you’ll pay. Taking a few months to a year to improve your credit, can save you tens of thousands or more on future interest payments.
• Keep your financial information organized, on a computer, or files at home – this will make going through the process of applying for a loan lightening fast. Items include old tax returns, w2s, etc.
• Shop around – different banks offer different rates, and tiny changes in interest rate means large long-term savings. Saving ONLY 0.2% interest on your loan will mean nearly $10,000 saved on interest for a 30 year mortgage on a $200,000 loan!
• Have your future down payment and escrow amount ready and easy to access (if possible) to make the process simple and move quickly through steps. Sometimes clients have to liquidate assets to get to cash and it can slow things down or cause problems in a deal.
• If paying cash, take a screenshot of your bank account (proof of funds) and have ready for when we begin making offers.
• Consider having enough money on hand to do a few inspections. Not every home is going to be perfect, or every seller cooperative with meaningful repairs/reimbursements based on condition. Having enough money for 2 or 3 inspections on hand (generally $500 each) will help us maintain flexibility and not have to stick with the first home we make an offer on.
• Appraisals – New home buyers that are financing need to keep in mind that appraisals (the amount the bank believes the home is worth) are currently coming in UNDER market. This means many loans won’t fully cover the cost of a home. I will help guide you through this, but should be something we address up front, so that you can keep extra cash in your pocket to pay the difference, rather than then a hefty down payment that ensures you don’t get the home you really want.

Finding Properties

After we have met, discussed your needs, and you have financing squared away, now’s the most exciting part – finding properties. The most helpful tool is going to be my website, as it is updated with all of the latest MLS information. You will also be receiving emails (typically daily) of new homes that match your criteria. I ask that clients review these, and login to the website and continually search for any homes they may like. When ready you can call, text, or use the website’s onscreen steps to setup a time to view a property together.

In the background I am also actively searching, and am constantly communicating with my vendor, partner, and realtor network to learn of new homes that haven’t yet hit the MLS, are off market, or to work with buyers that are looking to sell – so I will communicate about these deals from time-to-time.

For the actual viewings we simply meet at the property and review together. This process again allows me to learn more about you and your needs, as we walk through a view homes, I gain a sense of more details that you’re looking for and can refine our search.

The whole home search process is generally taking between 60-90 days right now.

Tips:

• Review my daily home e-alerts. Yes, they can get cumbersome, but they’re updates on the market and properties.
• Schedule a time weekly to go through properties on KevinWBartlett.com
• If anything changes during the buying process (you realize you need something for example) make sure to let me know ASAP

The Offer

Once we have found the perfect home, next is time to make an offer. The technical process is simple. You tell me you like a home, we have a quick chat about strategy (I’ll make a suggestion as to where to make the offer so that we strike the right balance between maximizing our chances of getting accepted, but at the lowest amount possible). At this point, if you haven’t already provided I will definitely need proof of funds and/or a pre-approval letter to send along with the offer.

From there I will draft a contract which outlines the basics of our offer including purchase price, escrow amount, and the number of days we have to review, inspect, and bring everything to a close. I will send this via email, and you can sign electronically. Typically, it takes an hour or two to put the contract together from the moment you say GO!

Once that’s signed, I then forward to the seller’s agent – who then presents it to their client. Generally, this next process takes about 24 hours to see a response. That response is either an acceptance, rejection, or negotiation (different terms, days, price, etc.). At that point we will communicate and work together on next steps. Once a FINAL agreement is settled upon – both parties have signed the agreement – we are off to the races.

Keep in mind – the offer, particularly as a part of residential real estate – heavily protects you, the buyer (with some exceptions in rare circumstances). If at anytime you’d like to back out, you can. It generally ties up the seller and removes the property from the market – helping us to secure the home, and allowing us time to do our due diligence.

Once an offer is accepted, both agents (on your side, and the seller’s side) begin working with the title company to set up title work on the property. Title work involves reviewing any current liens, permitting information, and handles the escrow deposits. This is generally in the background, but the title company and I will be working with you in the next steps and at closing.

Tips

• At the time of the offer, things will move much more quickly, make sure you are available via chat/phone to coordinate nuances and changes that happen.
• If we need any special concessions (longer/shorter closing period, special escrow amounts, contingencies, we’ll need to include it in the offer).
• Escrow will be due shortly after the offer is accepted by the seller (generally within 1 week), so have that money ready and in a place that can be easily wired to another bank.
• Not every offer is accepted so brace yourself for some possible rejection.
• With the seller’s market being so hot right now, and with record low inventories, I am seeing a lot of offers being beaten out (an offer may have been accepted just hours before we decide to make an offer for example – but the MLS hasn’t yet updated to pending). Some clients are choosing to forgo seeing homes in person, and pulling the trigger based on images/video tours available online. This is a great strategy if you’re flexible and have some money/time to commit to the process.

Due Diligence Period

The due diligence period is our time to really inspect every aspect of the house, get anything that might need repairs down, and finalize full negotiations in order to fully close or walk-away.

In Florida, most closings occur within 30 to 45 days of going to contract. This can vary greatly, however, depending on specific circumstances. The default amount in the standard contracts is 15 days. So, in the next 2 weeks, following the accepted offer by the seller, we need to move quickly and arrange to have a home inspector come out and inspect the home.

If there are specialty items you would like inspected, review of those items must be arranged as well. I will help guide on this and have a network of home inspectors that are fantastic at what they do. I will help arrange an inspection, and let them in. At the close of the inspection, they provide us both with a detailed report on everything in the home. At this point it is best to schedule any additional or specialty inspections.

Tips:

• Nothing is really a “problem” – during due diligence you get to fully understand the property. Even repairs are opportunities to either save money, or have the seller handle the issues. Keep in mind some problems might be harder to deal with when moved in though.
• If anything doesn’t get addressed/repaired during this time that you want or need handled, I have a network of contractors, repair, and remodeling companies that will do an excellent job and get the home exactly where you’d like post-closing.
• The inspectors’ report makes a great “honey-do” list post-closing for all those tiny little items that might need very minor updates/repairs.
• Repairs are different than remodeling – our job is to point out the items that are currently defective during this stage.
• I see roughly 97% of homes close from this point forward.

Closing

Closing is the signing of all of your paperwork putting the home in your name and finalizing the documentation with the bank. This is generally a simple, straightforward process, but does involve a lot of documentation (particularly if you’re taking out a loan). At closing we review your balance sheet – which covers the purchase price, loan amount, escrow deposit, considerations for repairs/damages (if applicable) and both agents’ commissions as well as any other misc. line items.

Your closing generally happens at the title company, who will have an on-staff notary that will notarize the documents as you sign them.

Tips:

• At closing all items will be handed over (keys, garage door opener, etc.)
• You can read sample closing documents if you’d like, to prepare you. There is a lot to read!
• Post-closing immediately contact the power and water companies, to have those services switched into your name. I have all local service contact information and can assist here as well.

Move In! And that’s it, much simpler than most people realize, often involving just slightly more time/effort than if you’ve ever rented an apartment.

These 3 elements are the key to leverage yourself in the Real Estate business and in building a successful team or real estate practice. You MUST always maintain balance between these 3 elements. If you don’t grow all 3 of the elements equally your business will suffer.

ELEMENTS

• Technology
• Marketing
• People

Marketing: If you spend too much money on marketing and create excellent leads but don’t have enough staff or technology to work the leads you are wasting your time and money and you will fail. If you don’t invest enough time and money on marketing and have no leads, your staff will see no value in being apart of your business.

Technology: If you invest too much time and money on technology and don’t have staff to manage your leads you will not succeed. If you don’t spend enough time and money on technology you will not generate enough leads to keep your staff busy and you will not succeed.

People: If you hire too many agents and too much staff and have not invested into your business with technology or marketing to keep them busy you will not succeed. If you invest in marketing and technology but do not have the staff to handle the leads and manage the database you will not succeed.

Why You Should Hire An Assistant

• If your feeling like there isn’t enough hours in a day, buy more.
• Gain an additional 40 hours a week.
• Agents with staff average double the production.
• It’s the best way to increase production.
• On average assistants bring 4 deals per year through their SOI.

When you hire an admin be sure they have these qualities. Your admin should be a native of the area and have a SOI. Make it clear from the hiring process that it is part of the job to be a billboard for your brand in real estate. Admins should bring in a minimum of 4 deals a year. Plan a quarterly review with them to ensure they are meeting expectations of management. If they provide 4 deals a year, what’s the cost of them? Nothing.