Archive for May, 2016

Wed, May 25th @ 7PM on GoToWebinar
The Brand New
Beginning Investors Group Online
AKA “The Big O!”
May 25th, 2016 at 7PM ET on GoToWebinar
Learn the Quickest, Easiest & Most Affordable Way To Get In Front Of Sellers
A Live Webcast with Bill Cook
Register for Webcast @ BIGOnline.TampaREIA.com

Bill CookHere’s the big picture: You must let everyone know who you are and what you do. The goal is to have all the folks in your area call you if they are considering selling their property. Your next task is to separate the folks who WANT to sell from the folks who NEED to sell. And finally, when you find a motivated seller, you must be able to creatively structure a win-win deal, as well as be willing to pull the trigger quickly – ’cause great deals don’t hang around long!

By far, the MOST effective thing we do to accomplish the above goals is knocking on sellers’ doors and asking Pete Fortunato’s famous question: “Why are you selling such a nice house like this?” Nothing, nothing, nothing works better than knocking on sellers’ doors!

I know that, in this day of iPads, websites and high-tech gadgetry, many will disagree with me. That’s fine. But realize that, for the most part, the ones who disagree with me have NEVER gone out knocking on sellers’ doors. Think about it: What’s the point of websites, direct mail campaigns, squeeze pages, dialing for dollars, etc.? Isn’t it to get you face-to-face with a seller?

If you want to learn more about how to get face-time with 8 out of every 10 sellers, join us on Wednesday, May 25th at 7:00 PM ET for a Special Webinar where Bill is going to tell you about the Quickest, Easiest & Most Affordable Way To Get In Front Of Sellers!

No Charge to Attend ONLINE for Members or Guests!

Register Now!

If you are really serious about upping your investing game, You should NOT MISS this webinar!

About The Beginning Investors Group Online (BIGO)

Beginning Investors Group Online (The BIG O)The Beginning Investors Group Online (The “Big O” or BIGO) is an new online educational group that currently meets on the 4th Wednesday at 7PM ET for new investors who are just getting started in real estate investing as well as “new again” real estate investors who’ve taken a few years off and are looking to get back in the game.

We will be bringing in local and national real estate experts to teach new investors how to survive and thrive in our ever changing economy and real estate market. The entire purpose of this group is to help new investors get their first deal and help new again investors get their next deal.

TO ATTEND ONLINE: To attend the Beginning Investors Group Online via your PC, smart phone or tablet, Register Here for the Meeting on GoToWebinar.com and you will be emailed login instructions for the event.

No Charge to Attend for Members or Guests
Who Attend Online via GoToWebinar.com!

Register Now!

Once you get your Webinar Confirmation Email, you can login on about 5-10 minutes prior to the 7PM start time to reserve a spot using your PC, Mac, Tablet or Smart Phone. You can download the GoToWebinar App here on iTunes App Store or the Google Play Store.

See Tampa REIA Events Calendar for More Events!
Fri, June 3rd at 9AM – Attend in Person or Online!
Tampa REIA & Atlanta REIA Presents:
Nothing But Paperwork
How To Properly Complete Real Estate Investor Contracts & Paperwork
A Full Day Workshop with Don DeRosa on Friday, June 3rd from 9AM-6PM
There Are Two Ways to Attend…
Online via GoToWebinar or
In Person in Buford, GA
Are You Ready to Take the Fear Out of Doing the Paperwork to Complete a Transaction?

Don DeRosaDo real estate contracts and paperwork scare the daylights out of you? Do you wish you had a better understanding of how to fill out all the paperwork that comes with being a real estate investor for each and every deal you do? We have the solution to your problem!

On Friday, June 3rd, 2016 at 9AM, (1) in person at 1960 Skylar Hill Drive, Suite D, Buford, GA or (2) Online via GoToWebinar.com, Don DeRosa will teach you how to be a paper pushing real estate pro. Don is going to show you how fill out all the paperwork that you use on a daily basis to become a real estate investor and more importantly, a “transaction engineer”.

Paperwork like:

  • Purchase and Sale Agreements
  • Authorization to Release Information
  • Power of Attorney
  • Land Trusts
  • Beneficial Interest
  • Appointment of Trustee
  • Assignments
  • Leases
  • Options
  • Disclosures
  • And many other documents that you will use on a daily, weekly, or monthly basis depending on the kinds of deals your doing.

Here are some things that you will learn:

  • How to fill out all the documents needed to protect yourself from potential legal issues
  • How to explain each paragraph to your sellers, your lenders, and even your buyers so everyone is informed and comfortable with the paperwork
  • How to write in the financing terms – the payment structure, who’s paying closing cost, who’s doing the home inspections, what the closing dates are, and who is the closing attorney
  • What steps need to be taken when someone defaults on an agreement
  • What paperwork needs to be notarized
  • What paperwork needs to be filed at the courthouse and what paperwork is private that nobody sees
  • What kind of disclosures you have to offer, such as:
    • Seller Disclosures
    • Lead-based paint
    • Asbestos
    • Radon
    • Agency disclosures

We are also going to show you how to take all of these mounds of required paperwork that you will use on a daily, weekly, and/or monthly basis and put it all in the palm of your hands! We will show you how to make the mounds of paperwork into electronic files that can be filled out within seconds versus minutes, hours, or in some cases, days.

We are also going to share with you the 8 things that could blow up your real estate transaction if you are not careful:

  • The seller doesn’t have the authority to sell
  • The purchase and sale agreement is signed improperly
  • The purchase and sale agreement has the wrong or in adequate legal description
  • Earnest money is handled improperly
  • Allowing the seller to stay in the property after closing without the right possession agreement
  • Failure to indicate clearly what the seller gets and what the buyer gets so that everyone understands
  • Failure to get all of the initials and signatures to make it a valid sale
  • Failing to give proper disclosures
  • Not allowing yourself enough special stipulations or out clauses to protect you from losing your earnest money

If you want to take the fear out of filling out contracts and completing the paperwork properly and want to organize and systematize your real estate documents, this is a one day training event you don’t want to miss! We hope you will join us!

To Attend Online Via GoToWebinar.com, Register Here and follow these instructions carefully…

  1. Register & Pay for the Event: Register for the Online Only Workshop below.
  2. Register for the Webinar: Once you have successfully paid and registered for the event, you will be taken to a screen with instructions on how to register for the webinar. You will also be emailed these same instructions. So follow the instructions to register for the webinar.
  3. Webinar Confirmation & Login Information: Usually within 24 hours of recieving your payments, we will confirm your webinar participation and send you confirmation information on how to login to the webinar on the date of the event. Once you get your Webinar Confirmation Information, you can login on Friday, June 3rd about 5-10 minutes prior to the 9:00AM start time using your PC, Mac, Tablet or Smart Phone. You can download the GoToWebinar App here on iTunes App Store or the Google Play Store.
Register Now!

To Attend In Person in Buford, GA, Register Here…

Register Now!
See Tampa REIA Events Calendar for More Events!
Saturday, June 4th at 9AM in Sarasota, FL

Soup-To-Nuts Real World Real Estate Investing Workshop
With Kim Cook & Dorsie Boddiford
Saturday, June 4th from 9AM-4PM
Der Dutchman Restaurant, 3713 Bahia Vista St, Sarasota FL

Whether you’ve done a dozen deals, or you’re just a beginner, this workshop is for you!

Kim Cook and Dorsie BoddifordWould you like to learn strategies, skills & techniques from experienced, hands-on, active real estate investors? If so, Join us on Saturday, June 4th from 9AM – 4PM. We’ll show you real estate success at Der Dutchman Restaurant located at 3713 Bahia Vista St. in Sarasota, FL.

Lunch Will Be Included

What you will learn from TWO experienced, hands-on investors/rehabbers/landlords with 25+ years experience:

  • How to find those hard-to-get deals that other investors are scooping up
  • Templates of real deal structures you can use for profit
  • Rehab tricks from experienced flip investors
  • Bang-for-your-buck renovation tactics for flip properties as wells as rental properties
  • How to work successfully with contractors
  • Marketing the property: inexpensive ways to snatch a buyer

Plus, You WILL walk out the door with:

  • Kim & Dorsie’s Top Offer Forms
  • Quick Offer Forms
  • Foreclosure Sheet
  • Purchase & Sale Agreement
  • Tax Appeal Authorization Form
  • Closing Checklist
  • Contractor’s Checklist
  • Dorsie & Kim’s Marketing Letters

Kim Cook and Dorsie BoddifordWe also have a special NO-CHARGE-BONUS!, On Friday, June 3rd, Bill Cook will be taking us out on a half-day door knocking tour. Bill will show you how to get in front of sellers quickly. The will be a learning experience you will never forget. We will covering several local Sarasota neighborhoods. DO NOT MISS this opportunity!

PLUS After Party, Meet & Greet/Network at Siesta Key (BYOB)

Sarasota REIA  & Tampa REIA Members are $29.00 and Not-Yet-Members $99 (this includes 2016 Sarasota REIA Membership dues).

If you have any questions, Feel free to reach out to Ed Taylor at (941)315-8050 or email equityproperties@gmail.com.

Make checks payable to Sarasota REIA. P.O. Box 15474, Sarasota, Florida 34277

Hurry and Mail TODAY!! Limited Seating! Receipt of your check is your RSVP.

See Tampa REIA Events Calendar for More Events!
Thurs, June 9th at 6PM @ Doubletree Suites Tampa Bay
Tampa REIA – June 9th
at the Doubletree Suites Tampa Bay
Learn How to Structure Deals for Passive Income Like the Top 1% of All Investors
with Special Guest, Paul Rossano

Tampa REIA Members Can Attend for NO CHARGE.
Guests Can RSVP Online Now for $15 or Pay $20 at the Door.

Paul RossanoTampa REIA is excited to announce that Paul Rossano, lead trainer with MPactWealth, will be the special guest speaker at our Monthly Meeting on Thursday, June 9th at 6PM. The meeting will take place at the Doubletree Suites Tampa Bay located at 3050 North Rocky Point Dr West in Tampa, FL. Not only will Paul be sharing his years of knowledge about being an entrepreneur and investor, but also how to analyze and structure deals for passive income like the top 1% of all investors.

For the past 15 years, Paul has been involved in business with real estate as an investor and a broker. He is a devoted student and teacher of success, and embraces a philosophy of constant and never-ending improvement in all areas of life. Now a lead trainer for MPactWealth (recognized by Inc. 500), Paul’s mission is to share his vast knowledge and experience with others to help them achieve the level of success they desire and deserve.

Most investors know how to find the deals, and many even know how to find the funds to close the deal, however, the majority of investors do not structure their deals properly and they leave themselves vulnerable down the road. You definitely don’t want to be that investor. So don’t miss this very important meeting.

Tampa REIA Members Please RSVP on Meetup.com
Tampa REIA Members Please RSVP on Meetup.com

RSVP Now!

At the meeting, Paul will briefly discuss what he will be going into more depth about at The Wealthy Code Workshop in Tampa on July 16th & 17th. He will discuss…

  • Mistakes to avoid in order to earn passive income that is consistent and dependable
  • How to evaluate and adjust deal risks and rewards in a way that allows you to make the deal work for you
  • Ways to minimize your risk and and maximize your profits by using different structures for your deals
  • How to achieve the dream of most entrepreneurs of working less, having less stress, and having more money and time to spend your time doing what you love to do
  • And much, much more!

Don’t miss this great opportunity to learn how to structure all of your income producing deals to make you more money! All this is happening at the Tampa REIA main meeting on Thursday, July 9th at 6PM at the Doubletree Suites Tampa Bay located at 3050 North Rocky Point Dr West in Tampa, FL.

As always, Tampa REIA Members can attend the event at no charge and Non-Members can Register Online for $15 or pay $20 at the door. Be sure to bring your business cards and flyers and join us for an evening of real estate deals, vendors, networking, education and fun! See you there!

5 Days & 4 Nights in CancunWIN A 4 NIGHT STAY IN CANCUN: All participants who attend the Tampa REIA Meeting will be entered into a drawing for a chance to win a *Complimentary 5 Day, 4 Night Stay in Cancun! *You must be present at the meeting to win. Giveaway does not include dining, transportation, transfers, taxes, upgrades, etc.

*Meeting Agenda
6:00 PM: Tampa REIA Meeting in Tampa
6:15 PM: Announcements, Introductions, Haves & Wants
7:30 PM: Main Presentation with Paul Rossano
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

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!
Saturday, June 18th at 9AM in Tampa, FL

Join us for a REAL, LIVE, HANDS-ON…
Door Knocking Field Trip
Meeting Sellers and Making Written Offers
With Bill Cook
Saturday, June 18th from 9AM-4PM
Meet at McDonald’s at 6505 S. Dale Mabry Hwy, Tampa, FL at 8AM for Breakfast. Registration & Sign-in at 8:30AM

Do you want to SEE and EXPERIENCE the fastest, cheapest, most effective way to get face-to-face with motivated sellers?

Bill CookIf so, then please join me, Bill Cook, for a day full of door knocking with real sellers on Saturday, June 18th from 9AM – 4PM. We’ll meet at McDonald’s located at 6505 S. Dale Mabry Hwy in Tampa near Ballast Point at 8AM if you want to have breakfast with us at your own expense. Registration and sign-in begins at 8:30AM. The event starts at 9AM. We will then spend the day out talking to sellers and constructing win-win deals at their kitchen tables.

Have you ever spent the day with a seasoned investor getting face-to-face with homeowners and sellers and making written offers? Do you want to?

Door Knocking with Bill CookOn Saturday, June 18th, Bill Cook will take a select group of real estate investors from Tampa into local neighborhoods and show them:

  • What to say to a seller!
  • Where to stand after knocking on a homeowner’s door!
  • How to get 8 out of 10 sellers to invite you in!
  • How to make a written offer right there on the spot!

This isn’t classroom theory stuff. It’s a 100% real-world experience!

Door Knocking with Bill CookMost real estate investing teachers can talk-the-talk, but how many have you watched walk-the-walk? This will be a one-of-a-kind event. No other investing teacher does what Bill does!

Bill and Kim built their real estate investing business square on the back of knocking on sellers’ doors. They’ve been doing this for more than 20 years!

The 10 Most Important Things You’ll SEE Door-knocking with Bill on June 18th:

  • What’s the fastest, cheapest and most effective way to build your investing business
  • What to say to a seller…and the most important questions to ask
  • How to get 8 out of 10 sellers to invite you in
  • How to write a win-win offer right there on the spot
  • Why you should never look for deals
  • Why it’s critical to be curious
  • Why the rainmaker is king
  • The best way to find a property’s FMV (fair market value)
  • The best way to find a neighborhood’s FMR (fair market rent)
  • The best way to learn things about a vacant property
Register Now!

Will you learn something new? You bet! Will you see things you’ve never seen before? Positively! Will you be able to take what you’ve learned and put it to use the next day? Absolutely!

Bill and Kim have tons of experience at creatively constructing and funding win-win deals. Their investing portfolio is made up of single-family rental homes, mobile homes, a small mobile home park, plus notes and options.

Contact us now if you want to go out and watch Bill talk to homeowners and sellers, learn how he gets 8 out of 10 sellers to invite him in, and how he makes written offers right there on the spot!

We promise that you’ll see things you’ve never seen before – or will ever see again!

Here’s a ratio for you: If I talk to 10 sellers at the door, 8 will invite me in – EIGHT! Are you getting this kind of result from your bandit signs or website? A question for you: To be a successful real estate investor, do you need to meet with more sellers or less sellers?

While real estate investing is simple, it’s anything but easy. To be successful, the MOST important thing you must do is get face-to-face with sellers on a regular basis. Nothing takes the place of this. NOTHING! It’s the alpha and omega of real estate investing!

Your next question is probably: “Bill, what qualifies you to teach folks how to door knock and meet with sellers?” Beginning in 1978, I put myself through college selling Electrolux vacuums door-to-door. In 1995, I switched from Electrolux and became a full-time real estate investor. No one else in the country has this amount of experience at homeowners’ doors.

You are either serious about real estate investing or you’re not. If working 40 hours a week for the man isn’t your idea of financial freedom, if you’re a round peg who is being forced to fit in into a square hole, then come spend the day with me. It will be time well spent. And at the end of the day, if you feel that it wasn’t, I’ll gladly refund your hard-earned money with no questions asked.

Looking forward to having you join me. Remember, I LOVE questions! See you there!

Bill Cook

See Tampa REIA Events Calendar for More Events!
Sat & Sun, July 16th & 17th @ 8:30AM – Tampa, FL
Tampa REIA Presents…
The Wealthy Code
A 2-Day Member Appreciation
Workshop for
Real Estate Investors

Learn To Structure Deals For Passive Income Like the Top 1% of Investors…
Avoid Key Mistakes & Lower Your Risk!
July 16th & 17th from 8:30AM to 7:00PM
Doubletree Suites Tampa Bay
3050 North Rocky Point Dr West in Tampa, FL

SPECIAL ANNOUNCEMENT: We will be having a special drawing at this event! You could win a COMPLEMENTARY GOLD or SILVER MEMBERSHIP RENEWAL (Up to a $350 Value) as well as other prizes! Every member who attends will receive a ticket!

BRING A GUEST & GET EXTRA TICKETS!!: You can bring a non-member guest with you at NO EXTRA CHARGE and receive an EXTRA TICKET to improve your chances at winning a door prize! You must register your guest when you register and can do so at no extra charge. If you have already registered and would like to bring a non-member guest, please email chrissy at admin@tampareia.com and let her know.

Join us on July 16th & 17th for a Special 2-Day Hands-On Member Appreciation Workshop Where You’ll Learn:

  • A proven way to generate cash flow from any investment method.
  • How to structure your real estate investments to minimize risk and maximize upside.
  • How to quantify risk and return, and how to adjust both metrics to make deals work for you.
  • What key mistakes to avoid in order to earn a consistent and dependable monthly income.
  • How to live a dream lifestyle with less work, less stress, more money and more freedom!
Special Offer,
Register Today!

Regular Price: $797

Tampa REIA Members: $49/pp*

Non-Members: $797

Register Now!

This is a special opportunity for 50 Tampa REIA Members Only. Seating is very limited and will fill up fast.
Register Now to Reserve Your Seat!

Learn The Closely Guarded Strategies Of The Top 1% Of Passive Income Investors!

Yes, there is a secret way to wealth. At this event you’ll discover what most will never know about creating passive income.

This is your opportunity to gain the strategies, skills, resources, and tools for building passive monthly cash flow into your business. Follow this formula to create a fortress around your family’s financial future today… and for years to come!


See a Preview of The Wealthy Code Training

Your Bonuses for Attending
The Wealthy Code Workshop

The Wealthy CodeThe Wealthy Code Book ($15 value)
You will receive a complimentary copy of “The Wealthy Code”, a book which is a story of how a very wealthy man shared with the author the practical secrets to becoming wealthy. The story reveals the code the wealthy use and unveils the details of the code. It allows readers to understand wealth, to build wealth, and ultimately, to become wealthy. This simple, easy-to-understand book walks the reader through advanced and powerful concepts that can help you become wealthy.

The Wealthy CodeThe Class Workbook ($297 value)
All attendees of the Wealthy Code Workshop get a copy of the Wealthy Code Training Workbook to use in class. The workbook contains formulas, calculations, problems, answers and examples used in class. You’ll get to complete the workbook in class and use it over and over again when needed.

The Wealthy CodeThe Wealthy Code Calculators on USB Flash Drive ($297 value)
In addition to the class workbook, all attendees of the Wealthy Code Workshop get a USB flash drive that contains all the Wealthy Code formulas and calculators that you will need to analyze deals and construct offers in class, at home and in the field.

Seating is VERY Limited! Register Today!

Paul RossanoThis training is presented by Paul Rossano, who has been involved in real estate for the past 15 years. He has bought and sold dozens of properties and has been involved in hundreds of transactions on both the residential and commercial side of the business as both an investor and a broker. Paul is now a lead trainer for MPactWealth. Paul’s mission is to share his vast knowledge and experience with others to help them achieve the level of success and freedom they desire and deserve.

Register Now!

*PLEASE NOTE: This event is only $29 and is limited to 50 Tampa REIA Members only and will fill up quickly due to this very low price for 2 full days of high quality training you can’t get anywhere else. This price will go up after early registration expires. There will be absolutely no refunds for no shows, for those who leave early or arrive late. No exceptions. Date, Time & Location are subject to change. This event is NOT open to Non-Members unless they attend as your FREE Guest. Yes, you may bring a FREE Guest if you indicate this during registration.

Also, any Tampa REIA Member who renews their membership for an additional year between June 1st and July 14th may attend this event at no charge as well as a BIG THANK YOU for being a member of Tampa REIA. Once you renew, you must Register for the Wealthy Code and can do so at no charge.

What Others Are Saying About The Wealthy Code

Important Info for those who registered for the Wealthy Code:

Date & Time:

Saturday, July 16th – Registration 8:00am to 8:30am; Workshop 8:30am to 7:00pm

Sunday, July 17th – 8:30am to 7:00pm

Location: Doubletree Suites Tampa Bay, 3050 North Rocky Point Dr West,Tampa, FL

WARNING: DUE TO THE ADVANCED NATURE OF THIS TRAINING NOBODY WILL BE ADMITTED AFTER IT BEGINS, SO PLEASE BE ON TIME!

Here’s what you need to do:

  • Read “The Wealthy Code” book (Available as Digital Download Upon Registration)

And here’s what you need to bring:

  • Fully charged laptop
  • Light jacket
  • Business cards
See Tampa REIA Events Calendar for More Events!

The Profit May 2016 Edition

Posted on May 10, 2016 by
The Profit Newsletter for Tampa REIA May 2016
Download the May 2016 Edition of The Profit Newsletter Now!

The Profit - May 2016 - High Quality PDFThe May 2016 edition of The Profit Newsletter is now available for download as a High Quality PDF (print quality) or Low Res PDF for mobile devices. The Profit Newsletter is the official newsletter of the Tampa Real Estate Investors Alliance and is a digital, interactive newsletter for serious real estate investors delivered as an Adobe PDF file to read on your computer, tablet, or smart phone with a PDF reader. Many of the articles and ads in The Profit contain hyperlinks you can click to get more information online. The high res version of The Profit is “print ready”while the low res version may load faster on your mobile device. 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.

William NollIf you take $1.00 and double it tax-free for 20 days it’s worth $1,048,576 (over a million dollars). Take that that same $1.00, taxed at 30%, it will be worth only about $40,640 — A LOSS of a MILLION DOLLARS!  Why is this so? Because with tax-free compounding, earnings accumulate not only on the principal amount of money but also accumulate on the tax-free earnings as well.  (“Earnings on Earnings“).  Thus compounding combines earning power on principal and earning power on interest. Compounding has been called the ”8th wonder of the world”, a “miracle”. Compounding money at high rates of tax-free return is a definite advantage of real estate, especially with a great tax plan.

The wealthy know that taxes are a primary factor in determining whether you get rich or stay poor.  Let’s say, for example, you’re able to save just $2,000 annually on your tax bill. (With a good tax plan it will be much higher). You invest the $2,000 annually in an IRA which earns a tax-free annual return of 10%.  After 20 years, you’ll have over $114,000!  If you can save $10,000 annually on your tax bill and invest it in a Simple IRA for 20 years, you’ll end up with almost $573,000!

$5,000 in tax savings (which is found money) as a 10% down payment can allow you to buy an additional $50,000 in real estate!  Assuming a 20% yearly return you would earn $10,000 which in 5 years would accumulate to $50,000! Read More→

Leads, Leads and More Leads!

Posted on May 10, 2016 by

Leads, leads and more leads. No matter if you plan to wholesale, fix and flip, fix and rent, subject-to, owner finance or anything else involving real estate you must have leads. Some may agree with this statement and some may disagree but any time I needed anything in real estate, it was resolved by simply finding a great lead/deal.

I have heard investors and newbies alike say that they need to find financing or private money before finding a deal. While financing is important it cannot be put to work without a deal. I would argue that it is easier to find financing than it is to find a great deal. In fact, if you think you have a real deal and can’t find financing you may not have a good enough deal. Or it is possible you may not have the experience some lenders require. If this is the case and you really do have a deal there are investors out there that will partner with you. If it is your first investment it may be wise to partner with someone. Partnering with a veteran real estate investor can be invaluable. You will be making him/her money so they will be more willing to answer the hundreds of question you have been wanting to ask. Another way to tell if you have a great deal is if investors are requesting to take the deal off your hands. Sometimes when I’m approached to partner or lend on a deal, and it is a no-brainer of a deal, I ask if they would be willing to wholesale. I’ve always said, “You don’t ask, you don’t get.” It is always worth asking. Read More→

If you want to get the most out of your retirement, we have three words for you: knowledge is power. No, we’re not talking about any sort of “inside” knowledge when it comes to investing, or any sort of illegal tips and tricks. We’re talking about real investing knowledge: knowledge about the different types of accounts and investments you have available to you, and how to use those accounts and investments to the best of your ability. And one of the most important things for people to learn is how to use their Real Estate IRA in the best way possible.

Why a Real Estate IRA? Because self-directing this type of IRA allows you to utilize some amazing things that you simply can’t get when you invest in other types of accounts and asset classes. With real estate, you’ll be able to tap into your experience with this asset class…and possibly even get a lot of value out of it if this is your first foray into the world of real estate. How is that possible? Well, knowledge is power. Here are some tips and strategies for getting the most out of your Real Estate IRA. Read More→

BIG Reminder:  Follow up, follow up, follow up is crucial for capturing real estate deals!  What makes any deal is a Motivated Seller.  There are 13 main Seller motivators such as a vacant home, in pre-foreclosure, loss of job, job relocation, etc.  But how do we know when the “price” of the pain of home ownership becomes more than the price they want for the house?  How do we know when they’ve reached that tipping point, therefore agreeing to take a discount to allow an Investor to purchase the property and make a profit?  You guessed it….we follow up. 

Over 1 year ago, I was tracking a pre-foreclosure vacant home and I went to the next door neighbor to find out if they knew where the sellers moved.  During my conversation, I was informed that they hadn’t seen the neighbor in years and really didn’t even know them.  The couple I was talking to was an elderly couple who owned their home free and clear.  I asked them if they were interested in selling their house and John told me that he and his wife just might sell it at the right price; however, he and his wife were going to the doctor’s and he would call me to talk about the home and set an appointment to see inside.  I also got his telephone number so I could follow up in case he didn’t call me.  My first thought was whenever I hear the Seller say “at the right price,” that they always want more than what the house is worth and/or retail value.  I did ask John what the “right price” was and he replied again that he will call me back.  Read More→

“The building art is man’s spatial dialogue with his environment and demonstrates how he asserts himself therein and how he masters it.” ~ Ludwig Mies van der Rohe

Many apps I use are in lieu of something else, whether that be a tape measure or an architect’s blueprints. The RoomScan Pro seems to have replaced a lot of the physical tools needed to plan furniture placement, estimate how many gallons of paint or just to showcase a very simple to follow floor plan. It’s been helpful for prospective buyers to look at before they arrive at the open house. The app has its uses. For my own purposes, it saves me a lot of time trying to locate the original floor plan or determine whether a piece of furniture I want to use in the staging will fit in the room.

RoomScan Pro uses the iPhone’s accelerometer and additional sensors to map out the room. The app also has an option to create a whole floor plan. For me, in general, mapping out a single room works best. It charts the distance between walls in the room and then the end result is a clean illustration of what the app thinks the room dimensions are.

To get the best use out of the app you’ll need to buy the premium version. There is a free version but it is limited. I have my location settings activated so there’s no need for me to enter my location when I come to a new property. Tap on a named location like the street address and it will send you to the next step to create a “new room” with the app. You can name the room. If you’re doing the whole floor plan you don’t want to leave this blank. You can also name the floor you are on as well. By the end you will have a well-labeled illustration at the end, and it’s easier to navigate too. Read More→

In the last 15 months, thousands of TILA rescissions have been filed across the country. As a result we are finally seeing the patterns in how the banks are responding to rescissions. In case after case, the banks are obfuscating. They try to intimidate homeowners and confuse the courts into ignoring the clear letter of the law; that rescission is effective upon mailing as a matter of law. While they keep up this charade in the courts, they refuse to admit to federal regulators the risks posed by these wrongful foreclosures and the mortgage backed securities swindle as a whole.

First let’s clarify a few things about rescission. Whether disputed or not, a rescission is effective at the time it is mailed as a matter of law. It doesn’t matter what a judge WOULD rule if a challenge is filed by a party with legal standing. The rescission is valid until a party with legal standing can prove through a lawsuit in federal court that it should be vacated within the 20 day window.

Servicers will rarely try to dispute that the rescission happened, but will argue that it is not effective. First they usually send a letter to the homeowner stating that the rescission is invalid and they will not honor it. If the homeowner (correctly) challenges this, the bank will try to get a judge to ignore the law through motions that allow the bank to avoid having to prove actual facts in a lawsuit to vacate the rescission. The bank is trying to get the court to agree to the premise that the disclosures made at the time the loan was made were adequate and that the loan was consummated on the date they allege. All of these are questions of fact for a jury to decide the merits of, not a judge. Read More→

While I personally don’t use a lot of post card mailings in my real estate business, they definitely have their place. One of the main uses for a post card mailing is to either test a new list before spending a lot of money mailing to it, or to canvas large areas at very little cost to you. Post cards are also a very inexpensive effective means to building your buyers list.

If you are going to implement post card mailings, there are several different ways to do them effectively. On my web site at www.marketingmagiclady.com, I provide you with resources to find list brokers so you can focus on the specific mailing you want to do.

One effective way you can create these mailings is to download your list to usps.com and let them do the mailing for you for the cost of mailing the post card including printing. The post card is simply black and white, no frills, but can be used to canvas specific areas or large areas with your message.

There are some good reasons you might want to do this. One reason would be to do a sweep of a particular zip code range or group of subdivisions you want to mail to in order to find motivated sellers. This is a very inexpensive way to accomplish this. Another reason would be to do post card mailings to specific areas with high numbers of rentals in order to build your buyers list. Read More→

Two decades ago, Kim and I set a goal to replace our earned income with investment income.

There are a couple of advantages to achieving this goal.  First, you don’t have to labor for a living.  In other words, your capital is working for you instead of you working for your capital.  Second, the tax rate on earned income is much higher than it is on investment income.  Said another way: With investment income, the government lets you keep more of what you make, and when it comes to money, more is better than less, right? 

To accomplish this goal, we figured we’d need fifteen single-family rental properties.  Each month, the tenants would send in their rent checks.  Part of these checks go toward paying the mortgages, insurance, property taxes, vacancies, repairs and management.  We get to keep whatever is left over to spend or invest how we see fit.

There is a downside to owning rental property.  Though for tax purposes the government considers what you make to be passive income, there’s still hands-on work that needs to be done to maintain the property and manage the tenants. Read More→

The HUD Superstore

Posted on May 10, 2016 by

Checking information with REIA Comps will quickly tell you that HUD foreclosures are available all over the United States.  The thing to keep in mind is, the sales process for purchasing a HUD home isn’t quite the same as you’ll encounter when buying a home from an individual.  However, the no Deed Restrictions these homes have can significantly boost your wholesaling business adding real income to your RE business.

HUD properties are sold using a bidding process. HUD foreclosures are homes owned by the government as a result of repossession.  These types of foreclosures are sold online from former mortgage holders who defaulted on loans guaranteed by the Department of Housing and Urban Development. 

HUD homes are appraised, then priced at fair market value for their location.  HUD employees do not work with buyers, but NAID approved Agents.  HUD will generally accept the highest bid.  The foreclosures are usually sold at or below REO prices. This is like finding shells on the beach, believe me.  HUD sells these homes through approved brokers who often times advertise in the local newspaper to gain additional potential buyers. Read More→

This is a question I constantly ask my students about every offer they are thinking about making to purchase any property, and I also ask myself this question before making an offer to purchase on every deal I do. It’s a wonderful thing when you put together a profitable deal but why not take a minute before submitting your offer to a flexible seller and ask yourself, “is there any way I can make this deal better”? If you are paying cash for the property I don’t know of any way you could make the deal better unless you offered more CASH to the seller. I truly believe that would be a huge mistake. It would be a huge mistake because it would in most cases only benefit the seller and not you.

Always Ask Yourself, How Can I Make My Offer Better For Me And The Seller Before Submitting Your Offer to Purchase Any Property?

The question is how can you make a better deal for you? If you are paying all cash, good luck. If you are getting seller financing terms there are many different things you could ask the seller for that could make the deal better for you as well as for them. Here are Six creative suggestions you might offer a flexible seller. Especially to those flexible sellers who want a certain price, monthly payment or interest rate. Read More→

If you have Buyers that are experienced, they know the drill.  A wholesaler gets a deal and pushes it out to their Buyers list.  Then all the wholesalers on that list send it to their Buyers with some marking up the price.  And then the next level does the same.  And somewhere in there are the bird dogs that literally do nothing but press the forward button thinking ‘easy money’.  Problem is the Buyer is on all of these people’s lists.  Depending on the timing, he may see the lowest price first or one much higher.  Or maybe the Buyer is not on the primary wholesalers list so he never sees the original deal.

At this point, the Buyer naturally goes to the lowest price wholesaler to get the deal.  But if that wholesaler doesn’t control the deal, then the relay of information from wholesaler to wholesaler begins.  And more often than not, inexperience or greed or dishonesty shows its head.  You’ll find few cash Buyers are stupid so they pick up on this and walk from the deal.  People can sense when something is up and all it takes is one less than confident conversation to kill the opportunity. Read More→

Everyone knows that the first thing we need to do to be successful in real estate investing is to find the Holy Grail of real estate: The Motivated Seller.

And when it comes to finding that beautiful motivated seller, there’s essentially two options: FREE and PAID.  Another way of saying that: TIME or MONEY.

Obviously, if you have more money than time, you’ll have more choices at your disposal. Direct Mail is most likely your highest & best choice. Hiring someone to find those motivated sellers for you would be another great option.  But this article is NOT about those options. We’ll save that for another time.

No, THIS article is for those of you without the means to pay much for your marketing. This article is for those of you who are currently ‘financially challenged’ (another way of saying broke), or who have more time than money AT THE MOMENT. Read More→

Creating value in real estate is a great way to make money. In this article of the Master Lease Option (MLO) Series I will discuss how you can add value to your real estate deals using MLOs so you can make more MONEY!

Getting a seller to accept a master lease option deal is everything when using this technique. If a seller doesn’t believe that giving you a MLO on their property is the best option, then they won’t. Your job is to make the seller realize the value in allowing you to solve their problems with a MLO offer. The best way for you to present this idea to the seller is to know how to create value for this person. This will start by analyzing and becoming familiar with what the deal needs. In most cases we will get MLO deals done on distressed assets. You will show the seller that you can “un-distress” their property with a MLO and this is the biggest step in getting your offers accepted. If you can turn their property around then you have created value and the likelihood that you will complete the transaction is much better and that is what the seller wants. For the MLO to end in a sale and this is what you need to convince them of.

 Why is the seller selling? You should get the best answer to this question as the first step in your analysis of any deal. Sometimes sellers will be honest in their answer and sometimes not. First ask the question directly. No matter what type of answer you get ask several more questions to get the real story. Read More→

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