Tampa Real Estate Investors Alliance Blog

Mayor Kasim Reed Blowing Smoke

Posted on August 10, 2017 by

Mayor Kasim Reed is a short-sighted politician.  Thank goodness for term limits.

Mayor Kasim Reed says he is concerned about affordable housing. In a recent AJC article, Mayor Reed used terms like “predatory purchasing”. I believe this slanderous name calling only causes separation and stirs up animosity between the sellers and investor buyers. I am upset about this article where Mayor Reed said that investors are using predatory purchases to acquire houses and force the property values to go up, so there is no longer affordable housing in Atlanta.

If the city of Atlanta is going to point fingers they need to look at the predatory purchase of the surrounding land, which now houses the Falcons Stadium. My understanding is the city of Atlanta did threaten eminent domain in order to get that stadium in place. I did like the powers to be forcing that move though. Even if it will displace 30 properties of affordable housing. I think the Atlanta Mayor must have been referring to the investors that buy single family houses as predatory purchasers, not the commercial buyers. But that is another article.  Read More→

You work hard to make sure your QuickBooks data is accurate. Make sure it’s safe, too.

Your QuickBooks company file contains some of the most sensitive information on your computer. You may have customers’ credit card numbers and employees’ Social Security numbers. An intruder who captured all that data could create tremendous problems for you and a lot of other people.

That’s probably the worst-case scenario. But other situations could also spell disaster for your business, which  involve losing your company data through fraud, hacking, or simple technical failures.

We can’t overstate the vital importance of protecting your QuickBooks company file, especially your customer and payroll information. Whether someone steals it or it’s inaccessible for another reason, it’s gone. Keeping your business going after such a loss would be very difficult – maybe even impossible.

Here’s what we suggest to prevent that.  Read More→

How We Creatively Funded A Recent Deal

Posted on August 10, 2017 by

How do seasoned real estate investors creatively fund their deals without going to a bank?  To show you one way, let’s look at a deal that Kim and I recently got funded using a private-money lender.

This deal began when Kim and I were high bidders at the December 3, 2013 property tax auction in Cartersville, Georgia.  We bought the tax deed on 50 Akin Drive for $2,800.  The purchase money came from our checking account and was used to pay up the property’s back taxes for tax years 2010, 2011, 2012 and 2013.  By the way, despite what the TV infomercial claims about buying tax deeds, as the high bidders, we only owned the tax deed, not the property

Over the next twelve months, either the property owners (who had abandoned the property) or their mortgage company had the right to buy back the property’s tax deed for our $2,800 purchase price, plus pay us a fee of 20% interest. Read More→

Land Trusts are one of the most confusing and often misunderstood aspects of real estate investing.

In this article, we’re going to discuss a few basic, essential things you should know about Land Trusts if you’re buying & selling houses, are concerned with privacy, and/or want to enhance your estate planning.

I’m often asked about these wonderful ‘things’ called Land Trusts, and the techniques & benefits that are associated with them.  As a land trust expert, it’s an AMAZING feeling to have the knowledge & confidence to be able to use them correctly. Would you like to have that awesome feeling? Great! Keep reading…

There are SO many benefits you get by taking title to property in a Land Trust. Let’s look at a few of the benefits associated with these entities and WHY it’s vitally important for you to be familiar with them, shall we?  Read More→

You have seen the infomercial… it goes like this…

  • Start with wholesaling
  • Make some money
  • Start Rehabbing
  • Make Bigger Checks
  • Retire

There are a few variations on this theme, so allow me to share a different spin that I and a few colleagues of mine have explored.  It looks more like this…

  • Start with wholesaling
  • Make some money
  • Start Rehabbing
  • Make Bigger Checks… sometimes but not always
  • Quit working so hard and go back to doing some wholesaling.

So this is not exactly what we are doing since we are also doing new construction but remove the new builds from the equation and it is pretty close.  So what’s the deal?  Read More→

Consistency

Posted on August 10, 2017 by

Today after leaving a meeting I was approached by an investor that asked where I found my leads. I answered by giving him a few examples of where I received my most recent listings. By seeing the look on his face, I could tell that he didn’t like my response. I think he believed I was holding out and not wanting to share or there was something special I was doing which was/is not the case.

Like this gentleman and probably like many of you, I once too believed there was a magic bullet/formula to successfully finding a lead in real estate or anything. After speaking with many “experts” I found out that there is no such thing as a magic bullet. In fact, the only thing that really separated a bad or good investor from a great one was/is consistency. The better question is, what should I do on a consistent basis to make me successful in real estate investing or anything else? Once you know what to do consistently, and you actually do it, you will be successful.  Read More→

 “Preconceived notions are the locks on the door to wisdom.” ~ Mary Browne

There is none other than August that are doing Bluetooth locks to the caliber of quality like we’ve never experienced before. August Lock System is something that is worth it. It works best with a Schlage deadbolt or other high-end deadbolt lock. It faces the interior door, so it doesn’t add a level of security that is significant. It is a convenience for the homeowner if perhaps they aren’t home and someone needs to attend to plants and pets.

The startup takes two steps to connect to a smartphone with the app pre-installed. The app does require a phone number and email. The subscription based security monitoring is worth it since the free subscription for the app is only as good as the deadbolt it is on.  Read More→

Making Any Market Work For You

Posted on August 10, 2017 by

When we are always confident that real estate comps are solid, we feel comfortable stepping out into any real estate deal. Using REIA Comps will give you a feeling of confidence and complete sense of control of the value for any deal you are doing.  Because things can be so busy these days, it is important to take the steps to make money on any project you pursue.  Learning to work with the highs and lows of any real estate market means longevity for you.

Most realtors do a good job but in a sellers’ market you can probably sell the property yourself.  Remember, nothing beats a failure but a try. If it doesn’t sell then you can always call the pros in later. The internet has been a blessing to the average person.  There are multitudes of websites which could be used to market a property. Thousands of people visit those sites looking for a new home.  Even inexpensive ads on the internet are beneficial when trying to get a property in the sold column.   Read More→

Thurs, August 10th at 6PM @ Doubletree Suites Tampa Bay
Tampa REIA – August 10th
at the Doubletree Suites Tampa Bay
Unlock The Secrets to Real Estate Investing Success in Today’s Changing Economy & Competitive Seller’s Market
With Special Guests,
Bill & Dwan Twyford

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

Bill & Dwan TwyfordWe are excited to announce that Bill & Dwan Twyford will be our special guest trainers this month at Tampa REIA on Thursday, August 10th at 6:00 PM at the 3050 North Rocky Point Dr West in Tampa, FL.

We are very excited to have national real estate experts Bill & Dwan Twyford, The Real Estate Rock Stars, right here in Tampa. Bill who started as a paint contractor, turned rehabber, turned flipper, turned Nationwide Real Estate Trainer and his wife Dwan who started as a broke, single mom that had been fired from Denny’s. She now heads up “The Investors Edge University” – A company that specializes in training new and seasoned investors in a wide range of real estate investing techniques through live workshops, weekly webinars, a member site, and seminars. Dwan, herself, has flipped over 2,000 deals so she is more than qualified to share her vast knowledge of real estate investing with us on Thursday, August 10th at 6:00PM at the Tampa REIA Main Meeting

Bill and Dwan are going to share how they’ve bought and sold over thousands of properties, Notes, Rehabs, Short Sales, and Wholesales and how you can do it, too! This will be a little taste of Bill’s and his wife Dwan’s upcoming Foreclosure Summit in right here in Tampa Saturday & Sunday, August 12th & 13th.

You Will Learn:

  • How to find Real Estate for pennies on the dollar
  • How to turn YES’S into huge cash
  • How to get homeowners to say “yes”
  • How to get past pre-programed no’s in communication
  • How to build long-term wealth
  • How to classify the areas you work
  • And That’s Not All…

Make plans to attend the Twyford’s presentation on Thursday, August 10th to discover the golden nuggets of Secrets of Closing the Deal Bill and Dwan plan to share. They are flying in all the way from Denver, Colorado to be with our group. It is an honor and a privilege for us to have speakers of the Twyford’s caliber so please RSVP today, let’s give them a great group, full of tons of energy, and make them feel welcome at the Tampa REIA Main Meeting.

If you want to learn how to grow your business exponentially,without the head and heart aches that could come along with it, please RSVP for Tampa REIA’s Main Monthly Meeting and we will see you here!

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

RSVP Now!

As always, Tampa REIA Members can attend the event at no charge and Non-Members can Register Online for $15 or pay $20.00 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!

*Meeting Agenda
6:00 PM: Tampa REIA Meeting in Tampa
6:15 PM: Announcements, Introductions, Haves & Wants
7:30 PM: Feature Presentation with Bill & Dwan Twyford
9:30 PM: Late Night Networking at Bahama Breeze

*Please Note: Meeting agenda is subject to change.

5 Days & 4 Nights in CancunWIN A VIP EXPERIENCE JUST FOR YOU: All participants who attend the Tampa REIA Meeting will entered into a drawing for a chance to win a *Complimentary 6 Day, 5 Night Stay for You and a Guest at One of 6 Incredible Mexico Destinations! *You must be present at the meeting to win. Giveaway does not include dining, transportation, transfers, taxes, upgrades, etc.

9:30PM: Late Night Networking at Bahama Breeze
Late Nite Networking at Bahama Breeze

Bahama BreezeAfter the conclusion of the Tampa REIA Main Meeting (around 9:30PM), we will be reconvening at Bahama Breeze located at 3045 N Rocky Point Dr E in Tampa for the “Meeting after the Meeting” with Tampa REIA Crew. 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 & Sun, Aug 12 & 13 at 9AM @ Doubletree Suites Tampa Bay
Tampa REIA Presents…
Cash In A Flash
Foreclosure Summit
2 Full Days Workshop with
Bill & Dwan Twyford
Saturday and Sunday, August 12th & 13th from 9AM-5PM at
Doubletree Suites Tampa Bay
3050 North Rocky Point Dr West, Tampa, FL
*2-for-1 Early Registration Special
Register Now & Save Big Time!
*Join Tampa REIA or Renew Your Membership & Attend at No Charge!

Bill & Dwan TwyfordRegister today for the Two-Day Cash In A Flash Foreclosure Summit on Saturday & Sunday, August 12th & 13th at 9:00 AM held at Doubletree Suites Tampa Bay located at 3050 North Rocky Point Dr West in Tampa, FL with Bill & Dwan Twyford -the Nation’s leading foreclosure experts. In fact, Bill and Dwan are considered the Nation’s #1 experts in Short Sales®, Foreclosures, Flipping, and Negotiating!

They have personally bought and sold over 2,000 properties, bought millions of dollars in commercial property, coached 1,000’s of students through successful real estate deals, and have been making millionaires all over North America for almost twenty years.

If you don’t know them, that’s okay – You will get to know them very soon. They come from a place of ethics, hold themselves to the highest standards, and they make millionaires! They are the real deal!

They have written FOUR BEST SELLERS! Most recently, Bill co-wrote a book with Dan Kennedy and Dwan co-wrote a book with Steve Forbes. Why did these two mega-stars choose Bill and Dwan to co-write a book with – BECAUSE THEY ARE THE BEST IN THEIR FIELD!

It’s sad that so many people think you have to “get over on someone” to make a buck. At the Cash In A Flash Foreclosure Summit they will show you how to run an ethical, fair, and PROFITABLE real estate investing business that WILL make you a multimillionaire, too!

Here is a small sample of some of the topics that will be taught at this two-day summit:

  • No-Equity Foreclosure Strategies
  • Wholesaling REO’s and Notes
  • Area Classifications
  • Finding Off-Grid Properties
  • “Live” Field Training Techniques
  • Get Your Customers To Say “YES”
  • How To Work With Banks
  • Our Proven 3 Offer Short Sale® System
  • Buy Properties for 50% off Asking Price
  • Creating-Performing Notes
  • Millionaire Marketing Techniques
  • The Fed-Up Package H/O Options
  • Buying Bank Owned Properties
  • Building a 500k Per Year Business
  • Buying on Auction Sites
  • Working a Market No One Else is Working!
  • All this, Answers to Your Questions & Much More!

As you can see this will be a knowledge packed 2 full days of excitement and education. We look forward to seeing you at this great event on Saturday and Sunday, August 12th & 13th!!

Register Now!

*PLEASE NOTE: Non-Members who Join Tampa REIA between July 27th through August 10th, 2017 can attend the workshop for FREE as new members and can bring a qualified guest. Also, Tampa REIA Members who renew their membership for an additional year between July 27th through August 10th, 2017 can attend the workshop for FREE as well. When Joining Tampa REIA or renewing your membership, please indicate that you want to attend the workshop at no charge. You can Join Tampa REIA at http://membership.tampareia.com.

See Tampa REIA Events Calendar for More Events!
Wed, July 26th @ 7PM on GoToWebinar
Beginning Investors Group ONLINE
Closing The Deal, Golden Nuggets Revealed!

with Bill Twyford on July 26th
@ 7PM on GoToWebinar

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

Bill TwyfordPlease be sure to join us at the Beginning Investors Group Online on Wednesday, July 26th at 7:00PM ET with Bill Twyford who will be teaching our members and guests about closing deals faster, better and easier than your competitors.

Bill Twyford, is also going to share how he has bought and sold over 1,000 deals by knowing what to say, when to say it and whom to say it to and how you can do it, too! This will be a little taste of Bill’s and his wife Dwan’s upcoming Foreclosure Summit in Tampa on August 12th & 13th.

What You Will Learn from this Session:

  • How to turn YES’S into huge cash
  • How to get past pre-programed no’s in communication
  • How to get 7 out of 10 homeowners to contract
  • How to get homeowners to say “yes”
  • And Much, Much More!
Register Now!

Bill Twyford, The Real Estate Rock Star, started as a paint contractor, turned rehabber, turned flipper, turned Nationwide Real Estate Trainer. Bill considers education in today’s real estate market a priority for individuals and families as well as investors. He believes that integrity and accountability are paramount to maintaining a successful business. As author of the best-seller book, “How to Sell a House When It’s Worth Less Than the Mortgage”, Bill has strived to help families in distress throughout his investing career. Bill believes that maintaining balance is important in everyone’s lives and strives to create a win/win/win situation in all of his business transactions.

Bill Twyford is funny, witty, and brings his “rock star” approach to life and will make an incredible impression to you on Wednesday July 26th on BIGO!

TO ATTEND ONLINE: 7:00PM Start Time. 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.

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.

Register Now!
See Tampa REIA Events Calendar for More Events!

The Profit July 2017 Edition

Posted on July 13, 2017 by
The Profit Newsletter for Tampa REIA July 2017
Download the July 2017 Edition of The Profit Newsletter Now!

The Profit - July 2017 - High Quality PDFThe July 2017 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 will 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.

A little history. Back in 2007-2008, not only did the Real Estate market change, but so did our entire economy.  With the near total melt down of our economy, Real Estate took a huge hit. The Banking/Lending industry all but shut down making mortgage loans.

This made it very difficult for us to do business.  Up to this point we were doing just about every creative technique out there for they were all working.  We were doing Subject To, Lease/Options, Private Money, Rehabbing, REO’s, Wholesaling, Wholetaling, Commercial, Building Spec Homes, etc.

Lending was way too loose, but that was what was making it easy to sell properties.  In fact, it was so easy, some even crossed the line and put home owners into homes that they knew they could never afford, but were able to obtain these easy to get loans.  We of course could not do that.  Read More→

I am sure you’ve heard the phrase “fake it till you make it” but I have never believed in this. I have found more success in being the real you. Even if it means that you don’t know what you’re doing in something you’re looking to pursue. This belief continues to work to this day. As I mentioned before, I am in the process of immersing myself in commercial real estate (CRE) as a broker and investor.

I spent many hours learning from Google, YouTube and a few podcasts. I invested the time in learning more to insure this was something I am interested in doing. Just because a person likes residential real estate does not mean they will like commercial and vis-versa. Once I was certain I wanted to do CRE I started to reach out to practitioners and investors. Obviously, I picked the brains of those in my immediate network during social gatherings but I did not have serious conversations with them until I was committed. I make it a point not to waste people’s time or my own because I learned, a long time ago, that time is too valuable.  Read More→

Sitting at the kitchen table there were three people, two sellers and the buyer.  I wanted to buy their house but did not have the $40,000 cash to do it… now. The presentation from my side went just like I had planned.  From the Seller’s prospective it was too good to be true. They were unfamiliar with investing in residential real estate. They did have other investments like a 401 K.  They let other people handle their investment accounts. They haven’t touched it or changed their investment direction in 20 years and they had lost money during the recession. When the 401K and investment statements came in the mail they never opened the envelopes to see what they had. What they had was HOPE! They had a mortgage and had owned two houses prior with a mortgage. They had never heard of private real estate investing and getting an interest rate as high as I was proposing.

What I wanted to do was to buy the house. The house had a first mortgage of $120,000 and equity of $40,000 for a total financing of $160,000.   I wanted to keep the first mortgage in place, have a $40,000 second and pay an interest rate of 8%. My exit strategy was to buy, fix and sell the property, just like they do on TV. It would be for one year, then I would sell the house and the mortgage would be paid off.  This method of financing was going to save me $16,600 in interest fees and costs. I could pay a higher price for the house with the owner financing. It would be a lower price if I paid all cash.  Read More→

A Real Estate IRA is a great opportunity. It’s freeing. It’s invigorating. It’s a thrilling way to potentially build up a major retirement nest egg so you can build wealth over the long term and enjoy the peace that comes with financial security. But that doesn’t mean it’s fool-proof, either. If you want to make the most out of a Self-Directed IRA in which you invest in real estate, you have to avoid some critical errors along the way. Here are four you need to be aware of:

Mistake #1: Not Hiring a Property Manager

Hiring a property manager is critical when you have a Real Estate IRA. Not only will it help take care of any problems with repairs, tenants, and other issues like that, but it will keep you from participating in a prohibited transaction since you are not allowed to provide services to your Real Estate IRA.  Read More→

Setting Up Users in QuickBooks

Posted on July 13, 2017 by

If you plan to have multiple employees using QuickBooks, you can limit their access to specific areas.

Controlling access to your QuickBooks company file is easy when you’re a one-person accounting department. You simply use one password to protect your data.

But when you add new employees to the mix, do you want them to have access to absolutely everything in QuickBooks? Probably not. You have confidence in your employees or you wouldn’t have hired them. But this isn’t solely a matter of trust. It’s just good business practice to restrict individuals to specific areas and responsibilities, no matter what the application.

That’s why QuickBooks has built-in tools to help you limit activity. Here’s how it works.  Read More→

So! What Do YOU Do For a Living?

Posted on July 13, 2017 by

“What do YOU do for a living?”

Those words can strike fear and paralysis in the hearts & minds of the tragically unprepared.  If you’re newly in business for yourself, or have just never really gotten your head properly wrapped around HOW you should respond to this powerful question, you’re sunk. Handle it the right way, and you’ll be rewarded with confidence, respect, and a fatter bank account.

And that’s exactly what we’re going to cover in this article. So shut off your Facebook & keep reading… 

It never fails. You’re out at a social event, taking a flight somewhere, or maybe you just strike up a casual conversation with someone somewhere sometime. If you’re both adults over the age of 25 or so, the question eventually comes up, “What do you do?”   Read More→

When I am purchasing a property either for myself or with my student/partner, we determine which exit strategy is the best for both parties.  Knowing whether you want to wholesale a property for a small profit or rehab/retail it for a big profit is important.  Many investors start off with wholesaling the properties because they either don’t have a money lender or partner to help them rehab/retail the house and sell it for a bigger profit.  If this is you, then I believe you really should find a partner or money lender so you have more than one exit strategy.

When you purchase a short sale, some of the lenders will put a hold time for the new buyer requiring them to hold the property for 30, 60 or 90 days before they can resell the property for a profit.  In addition, they may tell you that you can only make a certain amount of money on the property if you sell it earlier than 90 days.   Holding doesn’t bother my student/partners or myself because we normally choose to rehab the property and retail it for a higher profit.  Read More→

“I am thankful to all the souls, I meet in the journey of life.” ~ Lailah Gifty Akita

Touchnote App is a familiar app to many. It’s commonly used to create eCards for birthdays and holidays, as well as printing applications like greeting cards and framed photos. I have found a way to use this for my own needs that are unique to my business.

Using this app has freed up some of my time. How to gently and politely notify a homeowner that I have an interest in their home without knocking on the door and intruding on their routine. I’ve utilized the Touchnote App to reach out to these potential clients. I usually drive looking for vacant homes in particular. I just take a photo of the house and look up the homeowner’s address in the public tax records. I write a simple message explaining that I’m interested in buying the property. It’s so fast and takes the time and thought out of trying to reach out to these homeowners by phone or physically printing and paying postage on a postcard. The cost is $1.99, which is very reasonable. You can also reduce this price even more by buying in bulk, making the cost $1.50.  Read More→

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