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Tampa Florida Real Estate InvestorsTampa 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 ensure 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 Profit August 2014 Edition

Posted on August 7, 2014 by
The Profit Newsletter for Tampa REIA August 2014
Download the August 2014 Edition of The Profit Newsletter Now!

The Profit - August 2014 - High Quality PDFThe August 2014 edition of The Profit Newsletter is now available for download just in time for our August 14th Meeting with Don DeRosa on “How to Buy Houses Subject-To”. 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.

Download Now!
High Quality PDF / Low Res PDF
See The Profit Archives for our past editions.

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Thurs, August 14th at 6:00 PM @ Doubletree Suites Tampa Bay
Tampa REIA – August 14th
at the Doubletree Suites Tampa Bay
Buying Houses “Subject-To” In Today’s Real Estate Market
with Don DeRosa

Tampa REIA Members Can Attend at No Charge & Guests for $10.
RSVP Online Now to Attend the Meeting.

Don DeRosaDon DeRosa is a part time real estate trainer and mentor and full-time real estate investor who actively buys, sells and holds properties each month for huge profits and long term cash flow. Today Don is working furiously at buying properties “Subject-To” using the existing financing on the seller’s home instead of having to go to a bank or a hard money lender for funding. This allows Don to buy multiple properties fast, without coming up with all the purchase funds on the front end. This is the perfect strategy in today’s market where easy funding is not readily available for investors to buy pretty houses.

Join us on Thursday, August 14th at 6PM at the Doubletree Suites Tampa Bay located at 3050 North Rocky Point Dr West in Tampa, FL and Don will share with you, many of the subject-to strategies, tools and techniques he uses every day to create winning deals for himself as well as his buyers and sellers. RSVP Online Now to attend the meeting

Don will walk you through real world, actual deals, step-by-step to demonstrate how to apply these strategies, tools and techniques. In fact, you can bring your deals, and he’ll show you exactly how to evaluate the lead, determine your exit strategy, structure the deal, negotiate with the seller and get the paperwork done almost instantly and without any of the hard work you normally do to get your deals done.

By the end of the presentation, you’ll know…

  • How to recognize a “Subject To” opportunity and buy with little or no money!
  • How to evaluate any lead and decide whether this is a winner for you and how much money you’ll make before you make your offer
  • How to combine buying strategies and exit strategies – that work right now, in 2014
  • How to structure a deal in less than 10 minutes, so that you make a minimum of $20,000 on it, choosing from multiple purchase and exist strategies
  • How to determine the seller’s hot buttons so you can craft a deal the seller can’t refuse
  • How to use Don’s proprietary tools to negotiate for you, so you never let your emotions talk you into making a bad deal!

And if this is not enough, Don will be back with us on Saturday, August 16th for a one day workshop called “Making a Fortune Buying Houses with No Money and No Credit” from 9:00 AM to 5:00 PM at the Doubletree Suites Tampa Bay located at 3050 North Rocky Point Dr West in Tampa, FL to really drive these points home and give you all the subject-to details you need to succeed in real estate investing. Once you are armed with Don’s training and the tools, you will be able to do deals you never thought possible!

RSVP Now!

*Agenda for August 14th
6:00 pm: Tampa REIA Meeting in Tampa
6:15 pm: Announcements, Introductions, Haves & Wants
7:30 pm: Buying Houses Subject-To with Don DeRosa
9:30 pm: Late Night Networking at Whiskey Joe’s Bar & Grill

*Please Note: Meeting agenda is subject to change.

Click to view Cruise VideoWIN 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.

Late Night Networking at Whiskey Joe’s Bar & Grill

Whiskey Joe's Bar & Grill Tampa FloridaAfter 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!

See Tampa REIA Events Calendar for More Events!
Sat, August 16th at 9:00 AM @ Doubletree Suites Tampa Bay
Tampa REIA Presents:
Making a Fortune Buying Houses with No Money and No Credit
The Ultimate “How To” Workshop on Buying Houses “Subject To”
A Full Day Workshop with Don DeRosa
Saturday, August 16th from 9:00 AM – 5:00 PM
at the Doubletree Suites Tampa Bay

Don DeRosaOn Saturday, August 16th from 9:00 AM to 5:00 PM (Registration starts at 8:30 AM) at the Doubletree Suites Tampa Bay located at 3050 North Rocky Point Dr West in Tampa, FL, Don DeRosa will be conducting a special full day workshop with Tampa REIA on “How To Do The New Subject To”. This class is all about how to buy and own real estate and make lots of money with little or no money down.

Learn how to buy houses…

  • Without using your own credit
  • Without having to sign personally on a note
  • Without having to qualify for a mortgage
  • Without having much money

Beginner or experienced real estate investors can find immediate success using Don’s simple formula. There are six easy steps to follow when buying “Subject To.”

  1. Locating Sellers
  2. Prescreening Sellers
  3. Constructing Offers
  4. Presenting Offers
  5. Finding the Money
  6. Selling Houses

Once you learn to follow these steps you can do this over and over again for an average profit of over $20,000 per property.

There are many ways to make money in real estate and there will be something for everyone at the event. Don will be teaching you his trade secrets, including little-known buying techniques that have made him a very successful investor.

Register Now!

This event will show you from start to finish how to buy “subject to” properties… from raising capital, to finding leads, to meeting with the seller and closing the deal.

This workshop is jam packed with very important topics that Don will cover such as:

  • How to focus on what matters most in the beginning
  • Creating a business plan that fits your budget
  • Setting meaningful goals and prioritize your time and how to track your progress
  • Learn the five ways to profit in real estate
  • How to buy houses with little or no money up front
  • Finding the easiest ways to attract motivated sellers
  • Top five advertising techniques that work every time
  • How to evaluate any lead and decide whether this is a winner for you.
  • Twenty questions you should always ask a potential seller
  • Know how much money you’ll make before you make an offer
  • How to structure a deal in less than 10 minutes, so that you make a minimum of $20,000, choosing from multiple strategies!
  • How to use Don’s Green means ‘GO’, Red means ‘NO’ tools to negotiate for you, so you never let your emotions talk you into making a bad deal
  • Determine comps and rents from anywhere!
  • How to meet with the seller and make them feel comfortable with your offer, and how to avoid getting shut out of a deal
  • How to become a “mindreader,” to find exactly what the seller’s hot buttons are so you
    can craft a deal the seller is dying to take
  • How to prepare paperwork as if you were an attorney
  • How to walk away with a signed offer the same day and put it in your lawyers hands while you’re with the seller.
  • Learn the top five negotiating tactics to get sellers to say “yes”!
  • Find all the private money you need without putting loans in your name
  • Convince private investors to lend you the money you need to do your deals
  • How to combine buying strategies and exit strategies – that work right now, in 2014 – to effortlessly make a deal work you
  • Exit strategies that will not only make you lots of money today, but make you wealthy long term
  • The Secret to creating passive income deals of $350 + per month without any of your own money and with NO management on your part.
  • And much, much more including your questions!

This is one of my favorite ways to buy!!! I do several of these a year.

It’s HOT, HOT, HOT out there, and if you’ve been sitting on the sidelines, wondering if real estate investing is for you, now is a great time to dive in! Today, let’s focus on one of my favorite investment techniques: “subject to” mortgages.

Most of you know that when you buy a house, you usually receive a warranty deed, which gives ownership of a piece of property. If you’re paying all cash for a property, you just exchange the cash for the warranty deed. Pretty easy most everyone knows that.

But if you don’t have all the cash, you have to borrow the money. Most of you know how the typical mortgage loan works: your banker says, “Sure, just sign this promissory note that says you’ll pay it all back.” In return, you get a security instrument that says if you don’t pay the promissory note, the bank gets the property. In most states, that security instrument is the mortgage (In Georgia, we use security deeds). That mortgage, when it’s recorded, creates a lien on the property. In other words, the bank puts everyone on public notice that if the owner sells or transfers the property, the bank has to be paid off first. Read More→

Pre-Screening Prospects

Posted on August 7, 2014 by

Last month we talked about locating prospects, meaning buyers, and discovered that the two main ways we do it is, putting out signs and running ads on sites like craigslist. This month, we must discuss how to pre-screen those prospects when they get to us so we can determine the difference between someone we should work with and someone we should ignore.

We must start by deciding how we are going to capture these leads as we generate them. They will come in two forms: 1. Phone Call 2. Online. The first thing we must do is figure out how we are going to take the inbound calls. We use PATLive. Here, you have the choice of either having them taken live, or driving them to a voicemail box and just leaving enough information for you to decide whether you want to call them back. And here, my friend, is the key to pre-screening. The goal is to collect enough information to determine if they are worthy of your time. We’ll come back to that in just a minute.

If you use a voicemail system, check with PATLive on what’s called an IVR, Interactive Voice Response system. They can now set it up so the machine can ask several questions from your buyers without any human intervention. You might note, this is how we receive all our leads that we drive in from the radio at Global Publishing. A voice recorder handles all of the information and does a couple of upsells before they even get off the phone. This use of the IVR has changed our industry and now PATLive can make it available for you as a real estate investor. Read More→

Last month we discussed four of the major mistakes I made when I was learning to be a real estate investor setting at sellers kitchen tables trying to structure profitable deals to better provide for my family and the dumb things I did that cost me thousands and thousands of dollars over the years. This month I am sharing with you more of the things I did when I didn’t know what I was doing when negotiating. If you will learn from my mistakes it should take years off of your learning curve and help put thousands of dollars in your pocket every year.

  1. Sounding Like and Expert – this is a mistake I see all too many beginning investors make. Many years after I started buying houses, my mentor, Jimmy Napier told me to always be at or just below the sellers intelligent level if you want to be successful negotiating with them. Until I learned what Jimmy told me I would say the things I would hear from a seminar speaker that the sellers didn’t understand. This was not good. I found out that when you sound too smart many sellers get uneasy because they start to think that you could be getting ready to take advantage of them in some way. Never sound too smart when talking to the sellers. Read More→

Make Money with Other Wholesalers

Posted on August 7, 2014 by

Do you think that the other wholesalers in your town are your competition? Not if you position yourself as a useful ally. Other wholesalers can be wonderful resources to help you grow your wholesaling business. So what do I mean by positioning yourself as a useful ally?

First of all, be useful. Bring value. In wholesaling you are either providing the Deal (the property at a great price) or you are providing the Buyer. Or both. If you have one but not the other, you may want to consider teaming up with another wholesaler.

Example #1: You have a friend of a friend (Billy Buyer) who has just inherited $100K and wants to buy a fix and flip property at a wholesale price. You have heard of wholesaling, but haven’t really done any deals yet, and haven’t been doing any marketing – so obviously you have no deals that are your own. You have another friend (Harry Wholesaler) who has started marketing for wholesale deals, and has found a sweet deal – way under market value ($55K) that would work great as a fix and flip and meets Billy Buyer’s criteria. But Harry Wholesaler has no buyers. So you step in and put Harry’s deal under contract with an assignment (for $60K total). Then you go ahead and assign that deal to Billy for a FEE (for $65K total). $65K is still a great deal for Billy Buyer and you and Harry make $5K each for putting together the deal. Read More→

How Do You Fund Your Deals?

Posted on August 7, 2014 by

Just met with a would-be real estate investor. For two years she’s been trying to get into the investing business. Problem is, she has yet to meet with a seller face-to-face.

When I asked why she hasn’t met with any sellers, she said: “What if the seller takes my offer? How am I gonna pay for the property? Banks sure aren’t lending to investors right now!”

Ironically, the fear of the seller saying, “YES!” is what keeps most would-be investors from ever making their first offer. But the astonishing thing is, if your deal is a good one, the money will ALWAYS find you!

We get loads of calls from investors who are looking for money to fund their deals. For example, yesterday an investor contacted me about a 2-bedroom, 2-bath condo he wanted to buy and flip. The condo’s ARV (after repaired value) is $65,000. It needs $15,000 in repairs. The seller agreed to a $48,000 sale price. But when all the expenses are factored in, there’s no way this investor will make a dime on this deal, and that’s why no one will fund this one. Read More→

This month I will be discussing even more ways to find all the buyers you need for your real estate investing business.

If you have taken the time to build your dream team, you might also want to talk to your dream team Realtor to see if they work with any wholesale buyers in your area. They almost always have clients looking to buy wholesale deals. They may also have pre-qualified buyers for your other deals as well. Having a Realtor on your dream team is a necessary part of building a successful Real Estate Investing Business and if you have trained your Realtor correctly from the beginning they should already be providing these leads for you.

Many home buyers in the current market are asking friends and family members for possible leads on properties. So another technique I employ to find more potential buyers for my properties is to offer incentives to folks who have already purchased properties from me in order to get referrals. This is a technique that many Real Estate Investors simply forget about, but it can be very profitable for you. Read More→

I received several emails after my article last month regarding “Are Investors Flipping over the Gray Line.” The questions were about Land Trusts and transferring the beneficial interest at the time of closing. So … I am writing to all of those individuals who might be ‘Flipping Over the Gray Line’ but not really knowing it. Or maybe you are being coached by mentors and/or partners who are advising you that this is alright to do. If that is the case, then I want you to fully realize who will be liable for the wrong doing.

First off, the Short Sale Approval Letter and the Short Sale Arm’s Length Affidavit will advise you how you can conduct the closing regarding several factors: Closing Date, Approved Short Sale Amount, Approved Commission and Closing Costs, Approved Buyer Name, and any Deed Restrictions such as how long the new Buyer must hold the property before selling the property or if you are aware of any other agreements to sell this property to someone else at a higher price. All of Bank of America’s short sale letters and/or the Short Sale Arm’s Length Affidavit state that the Buyer cannot resell the property for 30 days. However, sometimes the Title Company, due to the wording in the Short Sale Approval Letter and/or the Short Sale Arm’s Length Affidavit, is not instructed to place this restriction directly on the Deed. This is where the Investor/Buyer thinks they have found a loop hole! The Investor/Buyer will close with Title Company A and then the same day or shortly after will turn around and close with Title Company B who has no knowledge of the Buyer’s requirement to hold the property because they did not do the first closing. Read More→

Working Probate

Posted on August 7, 2014 by

What is Probate? Probate is a vehicle to create inventory. A common misperception is that probate is automatically a good deal, but putting a contract on a probate property is the same as putting any other property under contract.

Finding probate properties is the same as finding foreclosures, divorces, and tax liens. Spending time building or purchasing databases and then marketing directly to them allows us to have more probate properties to select from.

These are the factors that affect whether or not a probate is a good or bad deal:

  1. The purchase price in relationship to the after- repair value
  2. Appreciation
  3. Cash sale or owner financing
  4. Condition
  5. Type of property

In today’s current real estate market, appreciation is happening at such a rate that paying current market value has its advantages. Here are some things to consider: Read More→

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