Archive for August, 2016

Thurs, September 8th at 6PM @ Doubletree Suites Tampa Bay
Tampa REIA – September 8th
at the Doubletree Suites Tampa Bay
Making a Fortune Buying Pretty Houses with None of Your Own Cash or Credit!
with Special Guest Trainer, Don DeRosa

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

Don DeRosaJoin us Thursday, September 8th at 6PM at the Tampa REIA Main Meeting at the Doubletree Suites Tampa Bay located at 3050 North Rocky Point Dr West in Tampa, FL where our special guest trainer will be Don DeRosa who will share with you, many of the “New Subject-To” strategies, tools and techniques he uses every day to create winning deals for himself as well as his buyers and sellers. Don is a part time real estate trainer and mentor and full-time real estate investor who actively buys, sells and holds properties each month for huge profits and long term cash flow.

Today Don is working feverishly to buy properties “Subject To” using the existing financing on the seller’s home instead of having to go to a bank or a hard money lender for funding. This allows Don to buy multiple properties fast, without coming up with all the purchase funds on the front end. He even borrows private funds to pay for any necessary upfront costs. This is the perfect strategy for buying and holding pretty houses in today’s market where easy funding is not readily available for real estate investors.

Don will walk you through real deals, step-by-step to demonstrate how to evaluate the lead, determine your exit strategy, structure the deal, negotiate with the seller and get the paperwork done almost instantly and without any of the hard work you normally do to get your deals done.

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

RSVP Now!

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

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

Don’t miss this meeting! Once you are armed with Don’s tools and training, you will be able to buy all the pretty houses you want and make this your best year ever! All this is happening at the Tampa REIA main meeting on Monday, September 8th at 6PM at the Doubletree Suites Tampa Bay located at 3050 North Rocky Point Dr West in Tampa, FL.

TAKE ACTION and RSVP for this Meeting Now! Come join us to learn how to make a fortune buying houses with no money or credit!

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!

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

RSVP Now!

*Meeting Agenda
6:00 PM: Tampa REIA Meeting in Tampa
6:15 PM: Announcements, Introductions, Haves & Wants
7:30 PM: Main Presentation with Don DeRosa
9:30 PM: Late Night Networking at Bahama Breeze (New Location)

*Please Note: Meeting agenda is subject to change.

5 Days & 4 Nights in CancunWIN A 4 NIGHT STAY IN CANCUN: All participants who attend the Tampa REIA Meeting will 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.

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 Scott Siegle and the rest of the 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, September 10th at 9AM @ Doubletree Tampa Bay
$19.95 Early Registration Special for Members or Guests. Seating is Extremely Limited! RSVP Now Before Sold Out!
Making a Fortune Buying Houses with No Money and No Credit
The Ultimate “How To” Workshop on Buying Houses “Subject To”
A Full Day Workshop with Don DeRosa
Saturday, September 10th from 9AM-5PM
Doubletree Suites Tampa Bay
3050 North Rocky Point Dr West, Tampa, FL
Plus a 1/2 Day Bonus Field Trip on Sun, Sept 11th,
All for Only $19.95 per Person While Seats Last!

Don DeRosaOn Saturday, September 10th from 9:00 AM to 5:00 PM (Registration starts at 8:30 AM) at the Doubletree Suites Tampa Bay located at 3050 North Rocky Point Dr West in Tampa, FL, Don DeRosa will be conducting a special full day workshop with Tampa REIA on “How To Do The New Subject To”. This class is all about how to buy and own real estate and make lots of money with little or no money down.

Learn how to buy houses…

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

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

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

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

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

You can learn how to get an owner to just hand you the deed to their property for the low price of $19.95 per person!

PLEASE NOTE: SEATING IS EXTREMELY LIMITED! If you want to gain the cutting edge you need to succeed and bypass your competition, REGISTER NOW WHILE SEATS ARE AVAILABLE for the workshop and bring your iPad, tablet or smart phone and join us at the event!

Register Now!

BONUS #1: Don will do a special, half day Pretty House Field Trip (location to be determined) on Sunday, September 11th from 9AM till 1PM at the latest. Don will take students out to look at a few houses so they can put their training into practice and determine as-is and after repair value, repairs needed and cost as well as how they would structure the deal.

BONUS #2: Don will show you how he remains almost paperless in his real estate investing business by using Apps for your Ipad or smartphone. Whether you’re a novice or an experienced user of hand held devices such as smart phones and tablets, chances are your device will do a lot more than you know. If you would like to learn to leverage the power of your handheld technology, Don will have some tips and tricks that he would like to share with you that will make your real estate investing business a lot more easier and lot more profitable.

DO NOT MISS this event, especially at this
Special $19.95 Price!

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

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

  • How to focus on what matters most in the beginning
  • Creating a business plan that fits your budget
  • Setting meaningful goals and prioritize your time and how to track your progress
  • Learn the five ways to profit in real estate
  • How to buy houses with little or no money up front
  • Finding the easiest ways to attract motivated sellers
  • Top five advertising techniques that work every time
  • How to evaluate any lead and decide whether this is a winner for you.
  • Twenty questions you should always ask a potential seller
  • Know how much money you’ll make before you make an offer
  • How to structure a deal in less than 10 minutes, so that you make a minimum of $20,000, choosing from multiple strategies!
  • How to use Don’s Green means ‘GO’, Red means ‘NO’ tools to negotiate for you, so you never let your emotions talk you into making a bad deal
  • Determine comps and rents from anywhere!
  • How to meet with the seller and make them feel comfortable with your offer, and how to avoid getting shut out of a deal
  • How to become a “mindreader,” to find exactly what the seller’s hot buttons are so you can craft a deal the seller is dying to take
  • How to prepare paperwork as if you were an attorney
  • How to walk away with a signed offer the same day and put it in your lawyers hands while you’re with the seller.
  • Learn the top five negotiating tactics to get sellers to say “yes”!
  • Find all the private money you need without putting loans in your name
  • Convince private investors to lend you the money you need to do your deals
  • How to combine buying strategies and exit strategies – that work right now, in 2016 – to effortlessly make a deal work you
  • Exit strategies that will not only make you lots of money today, but make you wealthy long term
  • The Secret to creating passive income deals of $350 + per month without any of your own money and with NO management on your part.
  • And much, much more including answers to your questions!
See Tampa REIA Events Calendar for More Events!
Wed, August 24th @ 7PM ET on GoToWebinar.com
Beginning Investors Group Online
AKA “The Big O!”
How to Talk To Motivated Sellers & Make Deals Happen!
A Live Webinar with Frank Iglesias on August 24th @ 7PM on GoToWebinar.com

No Charge to Attend Online for Members or Guests!
Register @ BIGOnline.TampaREIA.com

Frank Iglesias

Yes, it’s wonderful to have motivated sellers calling you and giving you all of the details about their situation. But do you know what to say to them? Do you know how to control the conversation? Do you know the right questions to ask to reveal their TRUE motivation? Do you know how to make them feel comfortable enough to open up to you and reveal their problems to you in hopes that you will have a solution?

Frank Iglesias will be joining us at BIG Online on Wednesday, August 24th at 7PM ET on GoToWebinar.com to give you some tips and his know-how on what he says to sellers to negotiate and close deals.

You will learn:

  • The Key Components Of Every Successful Real Estate Transaction
  • What Types Of Properties Generate The Most Profit
  • What Key Questions You MUST Ask Every Seller
  • How To Overcome Your Fear Of Talking To Sellers
  • And Much, Much More…

Frank Iglesias is one of the Founders and Managing Partners of Working With Houses, LLC, an Atlanta area Real Estate Investment Company that primarily works in the residential renovation industry, repairing and updating properties to bring value back to neighborhoods that have been devalued by the recent housing crisis.

New Investors, DO NOT MISS THIS EVENT! Register now and join us on Wednesday, August 24th at 7:00 PM ET.

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!  Read More→

The Profit August 2016 Edition

Posted on August 9, 2016 by
The Profit Newsletter for Tampa REIA August 2016
Download the August 2016 Edition of The Profit Newsletter Now!

The Profit - August 2016 - High Quality PDFThe August 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 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.

Robyn ThompsonAre you an active or passive real estate investor? This is the MAGIC question that all real estate investors should ask themselves on a regular basis, rather they know it or not.  Let me explain.

 Many beginning investors want to focus 100% on wholesaling and rehabbing so they can make the fast cash and big checks.  They don’t want the headaches of toilets, trash and tenants. After all it feels good to take a rundown house and flip it to a rehabber and make a quick $5000 or $10,000 in a few hours or better yet tear it apart, fix it up and sell it to a first time buyer who will call it home for many years to come and you can make $25,000 or $30,000 plus in just a few short months.  

Active investing can be addicting and a real adrenaline rush.  Ask me how I know that.  My nickname is the Rehab Queen and I have been rehabbing and flipping as an active income producing investor for over 17 years.  I have done over 350 properties and those quick one time paydays have been great.  But…  Read More→

We know you have been thinking about Selling, Wholesaling or doing a Fix and Flip, but weren’t sure when to do it, there may not be a better time than now.

To be sure, the decision to act greatly depends on your own personal circumstances. However, several factors have combined to make this a good time to think about taking action. The idea of jumping into the market, especially if you have been cautiously sitting on the sidelines, is now!

Over the past few years, the inventory of homes for sale has steadily shrunken, even as the demand from buyers has grown. Nationwide, total SFR inventory stands at just under 5 months’ supply. However, in some of our local markets, available inventory is even lower. Putting this into perspective, a balanced market should have approximately six to eight months supply. The time to use REIAComps to quickly and easily access the local markets around Hotlanta is frankly sizzling.  Read More→

“The mediocre teacher tells. The good teacher explains. The superior teacher demonstrates. The great teacher inspires.” ~ William Arthur Ward

It is best to teach by example. Now that everything is on a digital platform it can be difficult to find the right words to explain an action step-by-step to someone. Whether it is a menial task like sorting through spam email or getting a website listing to appear on a mobile platform, it is confusing to explain something in an email or text message. I find myself to be a visual learner and the best way to show me something is a short video tutorial.

Thank goodness for app developers: Pro Recorder (Free): Record Web Screen/Video – for Dropbox and Google Driver is By the company CONG DUC TRAN is the solution to my problem. As I often do, I was browsing the app store looking for something that could capture my screen actions in a video. I am familiar with other programs but they only cover my desktop or laptop, not my iPhone or iPad. Using this is a breeze, especially since you can easily save to a Dropbox or Google Drive account. It makes sharing the video easy and since it saves on a cloud storage platform no need to eat up all your memory.  Read More→

In the last two posts, we talked about building credibility with Buyers.  We have covered four steps so far.  Last month, we talked about the importance of having a real deal and doing your own due diligence as key points.  This month, we will talk about how to continue creating credibility and maintaining it for the lifetime of a deal.

Step 5: Maintain Open Communication

In a world where social media dominates and text messaging is overused for serious matters in my opinion, almost if not every Buyer I have met over the years prefers phone communication or in person when it’s time for real things to happen.

For most deals, we are talking about tens if not hundreds of thousands of dollars.  Millions for the even bigger players.  It is quite reasonable to assume that at some point, people want to talk to another human when doing a deal together.  This is step 1 of what I call ‘real communication’.  Talking to a real person on the phone achieves magic that an email or text rarely can accomplish.  Read More→

Through the 1990s and early 2000s millions upon millions of loans were created. This created some interesting issues for the banks. In some cases, they were looking for ways to cut down on the steps in the process in order to reduce the time it took to process a loan in order to keep up with the flood of business. In some other cases, they were looking for ways to take advantage of the system to bilk homeowners, their investors, and the government out of as much money possible. Unfortunately, the solutions the banks came up with for both of these issues resulted in a system of rampant mortgage fraud that the courts are only now finally catching onto. So how can you determine if your loan or the loan on a prospective deal is fraudulent?

In order to prove that they have the right to foreclose on a property, it is becoming standard for lenders to be required to produce the original note on the property.  The note is required before a court will allow a lender to sell a property.  It must show that the true lender is named with a recorded economic interest in the property.  The note as submitted by the lender in a foreclosure hearing may clearly be fraudulent because it was notarized after the fact with a stamp that was not even valid at the time the mortgage was taken out.  Read More→

The number one thing that makes an Investor successful is finding, buying and selling properties from a Motivated Seller.  As I have stated in previous articles, the only thing that makes Investors money is a Motivated Seller.  So … how do you find motivated Sellers when it’s a Seller’s market?  There are several ways to become successful and as an Investor the key to your success is having a marketing machine running all the time.  A Seller’s market means that when a property is listed on the Multiple Listing Service, the Sellers receive multiple offers from Investors, homeowners and landlords.  Obviously a homeowner is willing to pay list price or more for the house since they are going to live in the property and there is a personal attachment.  Landlords will pay up to 75% to 80% of the market value and Investors pay 60% to 65% of market value.  Yes, the repairs come into consideration for the Landlord and the Investor, however, the homeowner is more accepting of repairs needed to the home, as they are planning on making changes anyway.  Therefore, submitting offers on the Multiple Listing Service is very time consuming for an Investor and the rate of acceptance is much lower than for a homeowner.  Read More→

If you are going to meet a seller you will inevitably hear objections to the first price you offer. You can be as little as $1,000.00 off the seller’s asking price and the seller will still look to get you to the asking price. It is in our human nature to try to look out for our best interest so do not get upset. All you simply have to do is prepare for the most common objections and get the seller to agree with you.

Here are the objections I run into the most and how I have been able to successfully overcome them.

  1. Your offer is too low. Usually before I make an offer I try to have them tell me their asking price. Once in a blue moon their asking price is what you can pay. Usually, however, the price is higher. Naturally, when I make the offer the seller’s response is that my offer is too low. If they have not given me a price I ask for it again. From this point you have to be good at math or pull out a calculator and explain the offer to the seller. Show the seller the closing cost, carrying cost, renovation expense, possible unknowns specific to their home, closing cost on the back end, agent commissions, marketing expenses, etc. I actually show sellers what I plan to make on their home and what it breaks down to in months and weeks. In most cases, they see I’m not trying to get rich off one house and realize my offer is a fair offer.  Read More→

This article was not easy to write. In fact, it was one of the more challenging articles I’ve written in a while. Why? Because it deals with something that’s not easy for us to talk about: The reason why most people don’t take the action they know they should so that they can have the success they say they want to have.

The only place where success comes before work is in the dictionary. It’s an old-school, classic, tried-and-true principle: If you want to have success, you’ve got to work hard to make it happen.  And hard work means taking action.

Why do you think most people don’t take the action that needs to be taken?  I believe it comes down to two things: 1. Lack of Knowledge, or 2. Abundance of Fear.  Read More→

Did you ever wonder why some people are really wealthy and some people barely live paycheck to paycheck? Did you ever think “Why can’t I be wealthy like them?” What do the wealthy people know that I don’t? “How did they get rich? These are all valid questions, but I would say, the reason why you are or aren’t a wealthy person is entirely between your ears. So what exactly do I mean by that?

It’s simply this. Wealth is based on a state of mind, not on how much education you have, how many hours you work, or who you know. A wealthy mindset is created by believing in who you are, who you want to be and where you want to go. It is said that our thought processes control the person we are and the person we become, and this is so true. I know a lot of people, many of whom are real estate entrepreneurs, who have become extremely wealthy and yet came from backgrounds of poverty and little or no education.  Read More→

Sage Advice From an Old Investor

Posted on August 9, 2016 by

After closing the doors of North Georgia REIA forever, we have been reminiscing about the best lessons we’ve shared with our group.

With this in mind, here’s some sage advice from an old investor.

How do I know whether a deal is good or not?  How do I know what I’m looking at?  And if I decide to take the deal down, how do I get it funded fast without going to a bank?

When Kim and I began our investing careers in 1995, we thought all houses were pretty much the same.  But over time and with experience, we’ve learned what types of houses make the best investments.  Read More→

When we think of the Fourth of July we think about fireworks, grilling, and being with friends and family in celebration. I am a very big pyrotechnics fan, I always have a supply of fireworks for any occasion. If there is any excuse to launch a mortar or rockets, then I am very excited. Yes, I have gotten my share of injuries. I still have my eyes and fingers. The injuries healed. This is just like getting involved in real estate. You must know the risk and rewards when you buy and sell real property.

When I am picking out the right explosives to use in a celebration I have certain criteria. The mortars have to have color and reports. I also have rules in real estate. I have certain types of houses which I will buy and others I will pass on. I will pass on certain areas. I need to know what is the profit/reward ratio. The process I use has four simple rules. The first rule is to know what you are buying. Are you buying a house, commercial property, apartments, or storage units? How big? Get it inspected so you know what you are getting yourself into.  Read More→

This is an article I wrote a few years ago. Again I am hearing the rumblings of some of my students who believe they can buy 100 houses or more every year and it scares me to death. I believe what this article says is so important for every investor to know. That is why I decided to have this article republished.

Recently I was talking to several of my students who each said they wanted to buy 100 houses this year. These students had listened to one of the guru’s who had bought and sold over one hundred houses in one year and are now teaching people how to duplicate what they had done. I listened closely to these bright eyed inexperienced students tell me they wanted to do the same as the guru and it frightened me to death. Later over dinner, I mentioned what I had just heard to my wife. She encouraged me to tell my tale of woe about the years of agony we experienced because I got too big for my britches and against my wife’s better judgment I had tried to do the same thing myself.  Read More→