Archive for September, 2012

September 25th & 27th @ 7 PM on GoToWebinar.com
An Evening with a Real Estate Expert
with Private Money Expert, Alan Cowgill

Alan CowgillPlease join us on September 25th & 27th at 7 PM ET for a very special Evening with a Real Estate Expert Webcast with real estate investor, author, national speaker and trainer and private lending expert, Alan Cowgill! On this webcast, we are going to introduce our attendees to Alan, talk about how he got started in the real estate investing business, and talk about how he and his students raise and use private money to buy all of their single-family houses, commercial buildings, apartment complexes or other investment properties regardless of their cash on hand, credit or financial situation. Register for this Webcast Now!

Register Now!

The September Edition of The Profit Newsletter
Download The Profit for September 2012!

The Profit - September 2012The 3rd edition of The Profit, the official newsletter of the Tampa Real Estate Investors Alliance (Tampa REIA), is out for the month September 2012! Read and enjoy a variety of articles on real estate investing from Larry Harbolt, Don DeRosa, Bob Massey, Russ Hiner, Robyn Thompson, Erven Kimble, Mike Barnes, Jim Hitt, Kathy Kennebrook, Tony Pearl and more. Don’t forget, Tampa REIA Business Members can advertise in The Profit at deeply discounted rates.

RSVP Now!
High Res Version (16mb) / Low Res Version (6mb)
See Tampa REIA Events Calendar for More Events!

Hello everyone,

Larry HarboltWhat did you think about the fantastic job Larry Harbolt did for us on at the Creative Financing Workshop on Saturday, September 15th? Was what he taught great information or what? Thank you so much Larry!

After the day was over, we went over to the beach at Whiskey Joe’s where I heard many great reviews from those who attended. They not only thought that Larry gave us some really great information, but it was information almost nobody knew or had heard of before. He truly gave us all a deeper understanding of how master real estate investors negotiate and structure their deals and how we can too.

Today, after a few days of letting all the training sink in, I can see, even with the notes I took in class, that those of us who didn’t get Larry’s training system are going to have a hard time remembering all of the important details without having Larry to walk us through every step of the process. I know from experience, if we don’t have the important details that are so essential to doing profitable, creative real estate deals, we won’t take action and make the kind of money we all know is possible. Read More→

The September Edition of The Profit Newsletter
Download The Profit for 2012!

The Profit - September 2012The 3rd edition of The Profit, the official newsletter of the Tampa Real Estate Investors Alliance (Tampa REIA), is out for the month September 2012! Read and enjoy a variety of articles on real estate investing from Larry Harbolt, Don DeRosa, Bob Massey, Russ Hiner, Robyn Thompson, Erven Kimble, Mike Barnes, Jim Hitt, Kathy Kennebrook, Tony Pearl and more. Don’t forget, Tampa REIA Business Members can advertise in The Profit at deeply discounted rates.

RSVP Now!
High Res Version (16mb) / Low Res Version (6mb)
Sat, Sept 15th @ 8:30 AM – Doubletree Suites Tampa Bay
The Ultimate Fast Track to Your
Business Success Workshop

A Full Day Workshop & Strategy Session
with Larry Harbolt on Sept 15th, 2012

Larry HarboltRight now is the best time in modern history to buy real estate. Join Larry Harbolt on Saturday, September 15, 2012, and he will share with you his secrets on how to make money in today’s real estate market. Larry will show you what you really need to know to buy real estate profitably with only $10 down, even if you have bad credit or are bankrupt!

At this workshop, you will learn:

  • Buy real estate profitably in any market or economic cycle.
  • Learn how to buy real estate when you have No money.
  • Buy real estate when you have No good credit.
  • Learn how to create the terms to make cash today.
  • Learn how to overcome seller objections like a pro.
  • Learn the right questions that will create Golden Deals.
  • How to create extra profit out of thin air on most of your deals.
  • Never have to beg for or apply for a loan again.
  • How to buy and sell all the property you want and never use a bank.
  • How to structure offers with no payments or interest and get the seller to gladly accept. This will drive your cash flow through the roof.
  • Why you can buy millions of dollars in real estate and never have a debt show on your credit report or be personally liable for a penny.
  • Build your income stream, like the banks have, acquire free assets, without investing a dime.
  • How to change the terms of the loan months or years after the closing and make the seller ecstatic to do so.
  • Build an empire from monthly cash flow and cure negative cash flow – The secret only a handful of people know how to do.
  • Big profits from the “deal after the deal”. All seller-financed deals have back end profit centers if structured properly, and will cost you a fortune not knowing them.
  • How a few carefully chosen words you can easily master in minutes can potentially earn you big paydays when you’re ready to cash out your seller.

Come and join Larry on Saturday, September 15th, 2012 for The Ultimate Fast Track to Your Business Success Workshop. Bring a new pad and a couple sharp pencils because Larry promises you will leave with New Methods, Processes and Systems that are Efficient, Effective and WHEN YOU WILL Learn them can be measured by the NEW CASH in YOUR bank account.

Register Now!

If you wish to attend, Reserve Your Seat(s) Now! Gold Members can attend for $19.95, Silver Members for $29.95 and Guests for $39.95.

Workshop registration starts at 8:30 AM on September 15th at the Doubletree Suites Tampa Bay located at 3050 North Rocky Point Dr West in Tampa, FL.

Sat, Sept 15th @ 5:30 PM in Tampa – Networking on the Beach

Whiskey Joe's Bar & Grill Tampa FloridaAfter the conclusion of the Tampa REIA Workshop with Larry Harbolt on Your Fast Track to Success (after 5:30PM), we will be reconvening on the Beach 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 on the Beach on Tampa Bay!

Join Our New Mobile Real Estate Investors VIP List!

Tampa REIA Mobile WebsiteBe sure to join our new Tampa REIA Mobile Real Estate Investor VIP List by texting the word Tampa to 813-377-3428 and we will text you with important Tampa REIA updates, announcements and events from time to time. We will NOT share your phone number with anyone and have no plans to send you more than 4 text messages per month. Standard text message rates apply. Join the Mobile REI VIP List Now!

If you want to be emailed updates on Tampa REIA and our upcoming meetings, webcasts, workshops more often, please Subscribe to Our Email Updates Now.

See Tampa REIA Events Calendar for More Events!

The Profit September 2012 Edition

Posted on September 10, 2012 by
Download The Profit for September 2012!

The Profit - September 2012The 3rd edition of The Profit, the official newsletter of the Tampa Real Estate Investors Alliance (Tampa REIA), is out for the month September 2012! Read and enjoy a variety of articles on real estate investing from Larry Harbolt, Don DeRosa, Bob Massey, Russ Hiner, Robyn Thompson, Erven Kimble, Mike Barnes, Jim Hitt, Kathy Kennebrook, Tony Pearl and more. Don’t forget, Tampa REIA Business Members can advertise in The Profit at deeply discounted rates.

RSVP Now!
High Res Version (16mb) / Low Res Version (6mb)

Read More→

Today I am seeing all too many investors making mistakes that are costing them thousands of dollars of profit every year simply because they lack focus. Any truly successful investor will tell you that you must focus on what you are doing and become the very best at what you have chosen. Having been an investor for over thirty years, I learned there are five common reasons why many investors fail to make more money, especially in today’s market of properties with mortgage balances higher than what the properties are worth and thousands more properties in the foreclosure process.

Believe it or not, there are many more properties that are not over-leveraged and have a possibility of being bought at a fair price without wondering if a Bank will take your low-ball ALL CASH offer. To be able to better understand what the problems most investors face I want to talk about what I believe are the five most common mistakes most investors make. Read More→

How to Get a “Yes” to Your Offer

Posted on September 10, 2012 by

“An agreement cannot be the result of an imposition” ~ Nestor Kirchner

Imagine. You have a hot lead in your hands that could make you thousands in the next 30 days. Tens of thousands. Appears to be a decent house. Needs a little updating. Good neighborhood. Great schools.

But the owner tells you he’s talked to other investors. He tells you, “Don’t bother to come if all you’re going to do is make a low offer.”

So…do you go? Even if you’re going to make a low offer.

The answer is yes. Always yes.

You’ll go because you’ll get a ‘yes’ to your offer. You’ll be prepared. You’ll do your due diligence and analyze the numbers. And unlike the other investors, you’ll have a tool that will explain the numbers, explain why your offer is reasonable. Your tool will negotiate for you. In fact, you will become the seller’s advocate. You’ll try to make the numbers work, for both of you.

Even if your offer is tens of thousands less than the seller wants out of his house, you will get them to say ‘Yes.’ Read More→

The Truth About Securitized Mortgages

Posted on September 10, 2012 by

The majority of mortgages in the United States are sold into securitized trusts called REMICS and are not held as in-house or “portfolio” loans. All sub-prime loans are sold off in this way and have been since the late 1960s. The practice became especially common in the 1990s when the writing of sub-prime loans became more prevalent. Many prime loans also wind up sold as mortgage-backed securities.

REMIC is short for Real Estate Mortgage Investment Conduit. They are investment vehicles which hold commercial and residential mortgages in trusts and then issue securities representing an undivided interest in these mortgages. Investors, such as insurance companies, pension funds, and wealthy private investors, buy these mortgage-backed securities. The securities are assembled into pools called tranches according to their level of risk. Higher risk mortgage-backed securities command higher rates of return. REMICs are managed by a trustee, often a large investment bank, and are governed by pooling and servicing agreements (PSAs). Read More→

Is This House a Deal or No Deal?

Posted on September 10, 2012 by

There is a house located in a working class neighborhood. The Realtor is offering it for $60,000. It is a 3/2 bath house in average condition, 10 years old and 1200 sq ft with a one car carport. Taxes are $950/year. Insurance is $850/year.

The repairs are quoted by a shade tree contractor for $9,500. This would get you paint inside and out, carpet, counter top, and door knobs. The roof is 10 years old, the hot water heater is 3 years old, and the bath room is 10 years old. I figure since owner does not recognize that the house smells like smoke and cat urine, the 3 cats must be smoking 2 packs day and using the whole house as a litter box. The house has a floor plan of a split foyer, average schools, and average shopping. You live 45 minutes from the house. You like your house and you are not moving. The houses in the subject house area are selling for about $59.16/ SQFT. The rents in the area are $ 875/ month. Your situation is you have $12,000 for a down payment, repairs, and everything.

What should you offer? To answer these questions…answer these questions. What is your exit strategy? How much cash do you have? How good looking are you? (This allows you to get more money) Do you know people how have cash? Read More→

Is this depressed housing market making you nervous? Are you thinking that you can’t make money when real estate prices have dropped by as much as 50%? Do you think it is impossible to sell a house in today’s market? If you answered yes to any of these questions, this special report was written for you.

Many real estate investors are shying away from the ugly house business right now because they fear selling houses in a depressed real estate market. We have all heard the horror stories of real estate investors who lose their shirt because they get stuck with a property they just can’t sell or rent.

I am here to tell you that this does not have to happen to you, but there are nine rules you can never violate. Selling a house starts before you ever buy it. I start focusing on marketing strategies as I pull up in the driveway for the very first time, not after I purchased and renovated the house. Most untrained investors never focus on selling until after they have the property renovated and by then it is too late for most. Let me explain why in more detail. Read More→

“My child, if you have put up security for a friend’s debt, or agreed to guarantee the debt of a stranger; if you have trapped yourself by your agreement and are caught by what you said— follow my advice and save yourself, for you have placed yourself at your friend’s mercy. Now swallow your pride; go and beg to have your name erased. Don’t put it off; do it now! Do not rest until you do. Save yourself like agazelle escaping from a hunter, like a bird fleeing from a net.” (Pr 6:1-5)(NLT)

By definition, a co-signer is obligated to pay when the other person defaults on their obligation. A promise to pay another person’s debt is an entrapment by one’s own words. So when the borrower fails to make the payments, the creditor can come after the other person that has signed and agreed to be responsible for re-payment of the loan. In such cases, the borrower receives the benefit and the pleasure, and the co-signer receives the obligation and the burden to re-pay the debt.

Even if the borrower pays on time, the full amount of the unpaid loan will negatively count against the co-signer’s debt-to-income ratios (DTI). This DTI formula is used to help determine if a person has more debt than they can handle. So, since the co-signer is also responsible for paying off the loan, that debt may hamper their ability to get a mortgage, other financing or other benefits that depend on a good credit score. Read More→

Have you created a mobile friendly version of your website(s) yet? If not, why not? Your customers are not going to wait until you do. Statistics are warning us of this! With more people accessing your website/blog, Twitter posts and Facebook posts using their smartphones, they are also visiting and seeing your marketing with a smartphones as well.

If your website is not easily readable on a mobile phone, you’re in trouble since many (or most) mobile users will simply leave your site and take their business elsewhere. More than half of all users say they wouldn’t recommend a business with a bad mobile site. So even if you don’t think you need a mobile version of your site, you could, in fact, be losing customers without one.

Having a mobile friendly website, amongst other things, will render your images differently, helping on load times. Readability is also another huge concern. Your average mobile user will not want to spend much time trying to find the content that they’re interested in.

The art to designing a good mobile website is to eliminate all the content that is not all that important for users to see on a smartphone. Consider providing a clean and easy way for customers to “tap to call”, “tap to email” or “tap for directions” which will help the overall functionality and effectiveness of your website on a mobile device. Read More→

What About George?!?

Posted on September 10, 2012 by

The Dream

George L., a client of American IRA, LLC, wanted to purchase a 56 unit, 1.2 million dollar mobile home park inside his IRA account.

The Details

George was determined to make this dream a reality and worked hard in negotiations with the owner of the mobile home park finally settling on these details:

  • Purchase price $1,200,000
  • Down Payment $200,000 from an old 401(k) plan
  • Owner financing $1,000,000 at 6% interest

A Word of Caution about Loans inside an IRA

The American IRA account specialist informed George that the owner financing needed to be “non-recourse” to qualify for IRA financing.

The account specialist explained further that “non-recourse” means the property is the only collateral; neither George L. nor his IRA can be held liable.

George went back to the table with the owner and was able to negotiate non-recourse terms for the owner financing. Read More→

So Sue Me

Posted on September 10, 2012 by

Throughout your life, no matter who you are or how you earn your living, you need to be concerned about protecting your assets. Your assets may include your home, vehicles, jewelry, boats, artwork, properties and whatever other assets you accumulate along the way. After all, you work hard for what you have and there are always going to be people out there who want something for nothing. The more money you have the greater a target you become, and you’ll want to protect yourself from frivolous lawsuits.

In the real estate investing business this is especially true. The real estate business is one of those where you will be piling up assets quickly. If you are holding properties and you have tenants or tenant/buyers in your properties, this can make you an even bigger target for possible lawsuits. For this reason alone you want to be holding your assets in another entity, such as a land trust in order to keep your name off of public record. The main advantage to purchasing properties in land trusts or other entities is anonymity. If everything you own is in your own name, it makes it easy for someone who wants to sue you to find out what you have. If a plaintiff’s attorney looks on public record and it appears that you have nothing, you are much less likely to be sued. Read More→

Hello again! Picking up from where we left off last month, we were discussing how almost everyone now has a smartphone, email, Facebook, and they read their text messages within 5 minutes of getting it. We also discussed how most other types of traditional media are on the way out: Yellow Pages, newspapers, etc. Basically, everyone is using the internet these days.

So if you’re in business, you need to not only BE on there, you also need to position yourself correctly AND take advantage of the emerging technologies that your prospects are using to possibly find you. This includes having an optimized, converting website. Please look at Part 2 of this series to see what needs to be on your site. Contact me if you need help with this.

So, I’d suggest you get that website set up first. Use the ideas that were presented earlier to get your content together, and ALWAYS try to answer the main question your visitor is asking himself as he looks at your site: “What’s in it For ME?”

After you have your site together, you can take that content and use it to set up your Facebook Fan Page. Again, do a Google search on a recent post to see how this is done, because there’s not enough space in this article to teach you. But basically, you’ll just sign in to your existing Facebook account & set up a Fan Page from there. Look for the links. Read More→

Tampa REIA Meeting on Sept 13, 2012

Posted on September 3, 2012 by
Thurs, Sept 13th @ 6:00 PM – Doubletree Suites Tampa Bay
Tampa REIA Meeting on Sept 13, 2012
Members and Guests can attend at NO CHARGE. Please RSVP Below…

Eventbrite - Tampa REIA Monthly Meeting
Never Step Into a Bank Again!
And Buy All the Houses You Will Ever Need to Become Independently Wealthy!
with Special Guest, Larry Harbolt

Are You A New Investor Who Doesn’t Know Where To Start? Or, An Old Salt Who Can’t Find Deals – Or You Can’t Find Cheap Enough Money to Buy Properties?

Larry HarboltThe Truth is many investors only know one way to buy property… with Cash. And now that banks are not lending to just anyone, where do investors turn? The investor today is likely dead in the water unless they know how to Buy with Creative Owner Financing and learn how to Sell with Creative Owner Financing. Larry Harbolt has over 30-plus years of experience doing just that. That is why he has been called the Master at teaching how to buy houses with No Money and No Credit using Creative Owner Financing.

Larry will be with us at our Tampa REIA Main Monthly Meeting on September 13th and again for a full-day Saturday Training Workshop on September 15th for what could prove to be a career changing and life altering event for you, your family and your business.

How would you like to be able to buy 3 to 6 properties a month without using your own credit or any real money? What would that do for your lifestyle if you could churn out 5, 10 to 25 houses a year making money – helping others get started? All it takes is the proper training and the dedication to get the job done. That is exactly what Larry will do for you. Larry is going to teach you how to:

  • Wholesale at Lightning Speed = Pay off Debts & Stable Cash Flow!
  • Buy Properties Without Banks! = No Credit and No Money
  • Become Wealthy Owning Properties That Are Paid Off in 8.3 Years!
  • Create Non Recourse Financing and Never Gamble Again!
  • Sell at Lightning Speed! Don’t Be a Puppet to a Bankers Whim!
  • Become Wealthy and Be Done in 3-5 Years!
Late Night Networking at Whiskey Joe’s Bar & Grill

Whiskey Joe's Bar & Grill Tampa FloridaAfter the conclusion of the Tampa REIA Main Meeting (after 9PM), 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, Sept 15th @ 8:30 AM – Doubletree Suites Tampa Bay
The Ultimate Fast Track to Your
Business Success Workshop

A Full Day Workshop & Strategy Session
with Larry Harbolt on Sept 15th, 2012

Larry HarboltRight now is the best time in modern history to buy real estate. Join Larry Harbolt on Saturday, September 15, 2012, and he will share with you his secrets on how to make money in today’s real estate market. Larry will show you what you really need to know to buy real estate profitably with only $10 down, even if you have bad credit or are bankrupt!

At this workshop, you will learn:

  • Buy real estate profitably in any market or economic cycle.
  • Learn how to buy real estate when you have No money.
  • Buy real estate when you have No good credit.
  • Learn how to create the terms to make cash today.
  • Learn how to overcome seller objections like a pro.
  • Learn the right questions that will create Golden Deals.
  • How to create extra profit out of thin air on most of your deals.
  • Never have to beg for or apply for a loan again.
  • How to buy and sell all the property you want and never use a bank.
  • How to structure offers with no payments or interest and get the seller to gladly accept. This will drive your cash flow through the roof.
  • Why you can buy millions of dollars in real estate and never have a debt show on your credit report or be personally liable for a penny.
  • Build your income stream, like the banks have, acquire free assets, without investing a dime.
  • How to change the terms of the loan months or years after the closing and make the seller ecstatic to do so.
  • Build an empire from monthly cash flow and cure negative cash flow – The secret only a handful of people know how to do.
  • Big profits from the “deal after the deal”. All seller-financed deals have back end profit centers if structured properly, and will cost you a fortune not knowing them.
  • How a few carefully chosen words you can easily master in minutes can potentially earn you big paydays when you’re ready to cash out your seller.

Come and join Larry on Saturday, September 15th, 2012 for The Ultimate Fast Track to Your Business Success Workshop. Bring a new pad and a couple sharp pencils because Larry promises you will leave with New Methods, Processes and Systems that are Efficient, Effective and WHEN YOU WILL Learn them can be measured by the NEW CASH in YOUR bank account.

Register Now!

If you wish to attend, Reserve Your Seat(s) Now! Gold Members can attend for $19.95, Silver Members for $29.95 and Guests for $39.95.

Workshop registration starts at 8:30 AM on September 15th at the Doubletree Suites Tampa Bay located at 3050 North Rocky Point Dr West in Tampa, FL.

Sat, Sept 15th @ 5:30 PM in Tampa – Networking on the Beach

Whiskey Joe's Bar & Grill Tampa FloridaAfter the conclusion of the Tampa REIA Workshop with Larry Harbolt on Your Fast Track to Success (after 5:30PM), we will be reconvening on the Beach 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 on the Beach on Tampa Bay!