Here is a typical "day in the life" of the REIC Power Team, based on acquisition at auctions.

1. 1Around 6.30 pm every business day, REIC gets a copy of all homes going to auction the next day. In Arizona, one of our current “top markets” that list contains on average approximately 3,500 properties a day.
2. 2The list is immediately transmitted to the REIC research teams — local and international — who work through the night combing through all online public records for each and every property, finding any 2nd or 3rd mortgages, tax liens, mechanics liens, IRS liens, title problems, etc. Those properties are eliminated from consideration.
3. 3Furthermore, they research the local area, rental rates in the area, vacancy rates, etc., which leads to more eliminations. They also make sure the properties fit the rigid profile that REIC has established - low-end, minimum 3 bedroom, 2 bath, 2 car garage, single family homes, built between 1995 and 2007.
4. 4At each step of the process, the list is narrowed down more and more.
5. 5After about 12 hours of research by our research teams, the list comes back to REIC in Utah, usually by around 5am the next morning.
6. 6By that time the list of 3,500 is usually pared down to around 50-75 homes that have potential for REIC to acquire.
7. 7At that point the list is distributed to REIC's team of "on-the-ground inspectors", who physically go and inspect each and every potential home.
8. 8If the tenant is there, they speak to them and get permission to see the home.
9. 9If the owner still lives in the home, it is usually eliminated from consideration, unless the owner wishes to stay as a tenant or is eager to move out quickly.
10. 10If the property is vacant, our on-the-ground experts do everything they can to visually inspect the interior.
11. 11Only homes that successfully pass every stage of our analysis and inspection are considered "a go" for auction purchase — based on getting the right price, of course.
12. 12A maximum price is set, and the list of homes to acquire is transmitted to the REIC auction bidders present at each auction.
13. 13In Arizona’s Maricopa County alone, there are up to six auctions running simultaneously, all at different locations. REIC has an auction bidder at each site
14. 14The property is acquired if the maximum bid is not exceeded.
15. 15The property is purchased for cash in full, no later than the next day.
16. 16The property is rekeyed within 48 hours.
17. 17Later on the day of purchase, or the next day, the property management team meets at the home with the rehab team, and they develop a rehab plan and budget.
18. 18If, despite the best pre-planning efforts, the rehab is going to make the property too expensive to create a positive cash-flow rental, the property is rehabbed and then sold at retail through the MLS, to retail purchasers — not REIC clients.
19. 19Only properties that can create positive cash flow are rehabbed and then made available for purchase to REIC clients.
20. 20The rehab is usually finished in two weeks.
21. 21From the day the property is acquired, the property management company is already marketing the home to secure a tenant.
22. 22Once a qualified tenant is found, the property is rented out.
23. 23Currently, approximately 30-40% of the homes already have a renter in-place BEFORE the REIC investor makes the purchase decision (although no promise of a renter in place is made).
24. 24A special packet is put together with all the information about the home, including photos, description, price, anticipated monthly rent, anticipated effective positive cash flow, etc.
25. 25The REIC investors look through these packets and decide what home or homes they desire to purchase.