Tampa Real Estate Investors Alliance is All About Florida Real Estate Investing
Tampa Real Estate Investors Alliance (Tampa REIA) is a Tampa Florida real estate investors association for real estate investors, real estate entrepreneurs and other real estate professionals who invest in Tampa real estate for fun and profit and are dedicated to the highest level of professionalism and integrity.
Tampa REIA’s mission is to help insure our members’ real estate success by providing extremely affordable, high quality, relevant real estate investing information and education, as well as frequent, fun and rewarding real estate networking opportunities. Our goal is to be the premier educational and networking organization for real estate professionals in the Tampa Bay area.
The March 2014 edition of The Profit Newsletter is now available for download. You can download The Profit Newsletter as a High Quality PDF(Recommended) or Low Res PDF for slower devices. The Profit Newsletter is the official newsletter of the Tampa Real Estate Investors Alliance and is a digital, interactive newsletter for new and seasoned real estate investors delivered as an Adobe PDF file to read on your PC, Mac, Smart Phone, iPad or other mobile ready devices with a PDF reader. Many of the articles and ads in The Profit contain hyperlinks you can click or tap to visit websites, watch videos, listen to audios, download content, send emails, comment on articles, share socially and much more! The high res version of The Profit is “print ready” for those who want to print the newsletter on their home or business printer. Also, be sure to Subscribe to The Profit so you don’t miss a single monthly issue.
WIN A CRUISE: All participants who attend the Tampa REIA Meeting will entered into a drawing for a chance to win a *Complimentary 2 Day Cruise to the Bahamas with Caribbean Cruise Line!*You must be present at the meeting to win. The 2 day Cruise does not include port fees, transportation and taxes.
7:30 pm: Main Presentation with Jon & Stephanie Iannotti
9:30 pm: Late Night Networking at Whiskey Joe’s Bar & Grill
*Please Note: Meeting agenda is subject to change.
Late Night Networking at Whiskey Joe’s Bar & Grill
After the conclusion of the Tampa REIA Main Meeting (around 9:30PM), we will be reconvening at Whiskey Joe’s Bar & Grill located at 7720 West Courtney Campbell Causeway in Tampa for the “Meeting after the Meeting”. Come eat, drink, network and have fun with us as hang out late into the night on Tampa Bay!
Sat, Mar 15th at 8:30 AM @ Doubletree Suites Tampa Bay
Tampa REIA Presents: The REACT Workshop A Full Day Workshop with Jon & Stephanie Iannotti On March 15th from 8:30AM – 5PM at the Doubletree Suites Tampa Bay
Is REACT Worth Your Time and Effort? OK, so if you have no competition, unlimited leads, and qualified, cash, and credit challenged buyers with money down, how can you lose?
If you made just $5,000 per deal and did one deal per month, would that change your life?
What if you did one deal per week?
4 Deals x $5,000 = $20,000!
What if you made an average of $10,000/Deal?
4 Deals x $10,000 = $40,000!
I think you can see where we are going with this. We know of one person we coached that is doing 3-4 Deals per week with an average of $12,500 per Deal!
Back in 2007 when the Real Estate market was crashing is when this and another concept called “ACTS” was created by Steph and I. We had to find something that worked. So these techniques were born out of necessity.
None of the techniques we had been taught and used for years were working. They all dried up overnight. So we went back to basics… options, lease/options with a new twist.
The beauty of REACT is that it will work in a down market, an up market, and a sideways market. REACT works with no money, no credit. Motivated Sellers are an option, not a necessity… Think about that one! So, if you want an unlimited supply of leads, where every one of them WANTS to sell, you do not want to miss this Workshop.
REACT is the latest and greatest technique to hit Real Estate Investing in decades. Now we will tell you this, you have to be taught and you have to do it correctly. This is why you have to come to the workshop and get this training.
Once you learn REACT, you can take the housing market by storm. Together we can correct the down turn that the government can’t.
It’s time to REACT!!!!
See you at the Event!
Jon & Stephanie Iannotti “The Iannotti’s”, The Cruise Control Couple
Since buying our first property back in 1978, we have seen many changes in the Real Estate market. As you know, Real Estate is very cyclical. Markets come and go and believe it or not, come again.
We used Options, Lease/Options, Rehabs, Private Money back then, in the 80’s, 90’s, and since then. Sometimes these techniques can be used in the same cycles, and sometimes only a few will work.
When the market changed back in 2006 and it turned down, a new cycle began…again.
In a matter of about 10 days we saw about 13 exit strategies disappear right in front of our eyes. Market values plunged. Sellers still wanted pre-2006 pricing. Our six figure per month income just about dried up. What do you do?
Well, you adjust to the market and find what works now or your business dies!
So we started doing Short Sales. We had been doing short sales for years, way before most people even knew the term short sale.
We did hundreds of short sales. The only problem was that we could not help all home owners who needed a short sale. Plus as you probably know, short sales are anything but short.
We are not Investors who are in it just for the money. We actually want to help people, we want everyone to win…Sellers and Buyers as well as us. It’s got to be WIN-WIN-WIN! Read More→
For centuries the courts have been rigged in favor of the banks. The banks have the kind of time and money that homeowners could never dream of, and they are more than willing to use both to get their way. You’d be wrong, however, to think that’s the only way the system was crooked.
If a homeowner whose loan was securitized tried to force the bank to show the chain of title, the court would tell the homeowner that they didn’t have standing to make that demand. The homeowner then is left with no way of proving that the foreclosing bank/entity does not have the authority to foreclose. Not anymore!
In the case of Steinberger v OneWest Bank, et al, the court ruled in a special action that the homeowner does have the standing to demand that the foreclosing bank/entity provide a securitization timeline in order to establish their claim of authority to foreclose. This timeline of assignments and transfers would prove whether or not assignments were made after a note had already been transferred to a securitized trust and could be declared invalid.
This is a huge win for homeowners because we now have the right to demand that banks prove their authority to foreclose before the court. Read More→
In the first two parts of this article, we covered a few nice things like wholesaling, when & why you might not do a deal, and then how to make money even when you don’t buy a house.
The big secret I revealed in the last article was: You SELL the leads of the houses you don’t buy.
Now Your Question Is: “Ok. It makes sense! But HOW do I sell these leads?” Good question!
Again, let’s keep this simple. I suppose you could go and build a squeeze page, make a sales funnel, put up ads on Facebook or Adwords, etc. But don’t. Please. What a waste of time – especially at this point. Let’s keep it simple, ok?
Instead, why not just make a few phone calls to some of these local people? Ring a few Realtors. Call a couple of contractors. Get the Interest of some Investors. Dude – Dial for some Dollars!
Go on Google & do a search for “YOUR CITY Realtor” or Contractor. Or do a search for “We Buy Houses CITY”. Ex: “We buy houses Seattle” Read More→
There is money to be made in real estate, but you need to think about real estate investing as the business it is. Allow me to share some common mistakes that beginning and even seasoned investors should avoid.
For those of you connected to REIAComps, the control and feeling of confidence you have over your deals is priceless. Using REIAComps to investigate the value of houses as they come to market, against the recent sold comparables, will provide you a solid position to “make your profit when you buy”.
Getting emotionally involved. This is the biggest and most common mistake beginning investors make. Emotions and business do not mix well.
Paying too much. To make money investing, you have to find a good deal. Look for properties that need a little fixing up. Your goal is to find a distressed property that you can purchase at 60- 70 percent of other sold comparables. REIAComps makes that part of your investing business much easier.
Ignoring schools. Good schools attract good renters. Conversely, only the most desperate renters are willing to subject their children to failing schools. Read More→
Investors get into the real estate business to become ‘Millionaires,’ however, many listen to courses that contain outdated information where the systems are no longer working. They follow the wrong advice which seriously stalls a successful kick start. This industry is changing monthly; be sure your trainings are coming from a Mentor who is out doing deals on a consistent basis. I stand firm on my philosophy of “Don’t quit your job until you have at least one year salary in the bank.” Why, you ask? Because it puts unnecessary pressure on many marriages, families and individuals when they quit their job and the deals are not consistently coming in yet. I not only teach Short Sales, I also teach how to buy, hold, flip, subject to’s, lease option techniques, etc., which allow you, the Investors, to truly understand all of your available exit strategies.
In order for anyone to become a Millionaire with consistent and dependable cash flow, they must hold properties. In my Real Estate Junkie Course and my Mentor Program, I always recommend that you flip 2 houses and then hold 1 house. Below is an example of a short sale deal where the Investor ended up holding the property. I negotiated the short sale with my student and also partnered with her. My exit strategy was for her to hold the property, lease it out and my student will never have to lift a finger or do any maintenance to the house for a 15 year term. I explain this exit strategy from A-Z in my Mentor Program. One important criterion for holding a house is that it has 3 bedrooms, a garage, a basement (if applicable) and a swimming pool is optional. Read More→
There’s no doubt that the number of properties being advertised for foreclosure has been plummeting for the past year and a half. The question is, why?
In 2009, when foreclosure numbers began to skyrocket, the only way a bank could deal with borrowers who were behind on their mortgages was to foreclose. The fact that banks – actually it was loan servicers like the infamous MERS – didn’t have possession of the borrower’s note, nor the legal right to foreclose on the property, is a topic for judges and attorneys.
At the same time, you had thousands of borrowers who, because they couldn’t/wouldn’t make their mortgage payments, simply “gave the house back” and walked away. (It didn’t matter to the borrowers that the bank didn’t give them a house; it gave them money…and the bank – rightfully so – wanted their money back, not a house.) A bank’s only tool to deal with this situation was to foreclose on the property, and then sell it in hopes of recouping some of their loss.
Fast-forward five years. These days, lenders have many more tools to use to help homeowners avoid foreclosure. Two examples are: 1) The Cash-for-keys program, and 2) A wide variety of government-backed loan modification programs, like HARP. Read More→
You and/or your client have found real estate to purchase. The inspections go beautifully and then a giant road block shows up. What’s the road block? Your client wants to purchase it with their Self-Directed IRA and their IRA can’t qualify for a non-recourse loan because it doesn’t have the cash reserves for the 35% down payment the non-recourse lender is requiring.
Self-Directed IRA investors have a technique they call “Subject To” that can solve this funding problem. The “Subject To” loan qualifies as a non-recourse loan and can be used to purchase real estate within a Self-Directed IRA. It should be noted that the “Subject To” method can be used for deals whether the property is being purchased by an individual or by their IRA.
“Subject To” defined
Subject To means “Subject To the existing mortgage on the property.” Put simply, the owner of the property transfers the deed to the property into the buyer’s name (or the name of the buyer’s Self-Directed IRA) and the buyer (or their Self-Directed IRA) is responsible for making the payments on the seller’s existing mortgage. Read More→
As a beginning real estate investor, what is it that we are getting into real estate investing for? Have you figured out what that is yet? Is it because you just love real estate? You love it so much that you would do it for free right? Probably not, but it is a means to an end and for many people including myself. We see it as a quicker, more effective, and more realistic means to an end than other options (ex: our traditional 9 to 5). But when you say means to and “end”, what is that “end”? Is that a clearly defined destination for you?
Is it retirement? If so, what does retirement look like for you?
Is it financial freedom? If so, what does financial freedom look like for you?
Is it a net worth of a certain amount of money?
Is it a passive income of a certain amount of money each month?
Is it a house on the water, a big boat, lots of nice cars, lots of vacations?
Is it simply Time Freedom – being able to do whatever you want with your time, because your bills are paid, and everything else is taken care of?
Is it a combination of most of the things I’ve listed above? Read More→
I want you to be wealthy. I want you to make $5000 in the next 30 days. I know I can show you how. So every month, I explain how to navigate the very real possibilities in the real estate market. I encourage you to get out and beat the bushes for motivated sellers because I know they are out there and they are ready, willing, and able to sell to you.
This month I want to explain how you can avoid real estate ditches, potholes, and blunders. Believe me, I have found them through trial and error, and my experience can help you to avoid them.
The most common mistakes are:
Not following your business model.
Buying with someone else’s numbers.
Buying from a control freak realtor.
3 Ways to Avoid These Mistakes
I. Follow Your Business Model
Your business model is the most important thing to stick to when buying or wholesaling a property. It should include
How much money you want to make
The area of town you’re interested in
The type of buyer you need (owner occupant versus investor) Read More→