Archive for October, 2016

Wed, October 26th @ 7PM ET on GoToWebinar.com
Beginning Investors Group Online
Generating Buyer & Seller Leads with Low Tech Guerilla Marketing Strategies & Techniques
A Live Webinar with Dustin Griffin
Oct 26th @ 7PM on GoToWebinar.com

No Charge to Attend Online for Members or Guests!
Register @ bigonline.tampareia.com

Beginning Investors Group Online (BIGO)As a new or “new again” investor, are you generating enough motivated buyer and seller leads each month to survive and thrive in today’s competitive real estate market? Are you generating at least 20-40 leads per month from your marketing efforts? If you’re not generating this many leads or more, you should join us for our next BIG Meeting to learn how to generate all the motivated buyer and seller leads you can handle.

Dustin GriffinDustin Griffin will be speaking at BIG Online on Wednesday, October 26th at 7PM ET on many of the Guerilla Marketing Strategies and Techniques that he and other successful real estate investors use to generate a steady flow of leads for their real estate investing businesses. You will learn:

  • What is Marketing vs Guerilla Marketing?
  • How can one dominate their local market online and offline on a budget?
  • Marketing in 7 Easy Steps
  • Multiple ways to consistently market your business
  • 5 Rules for Marketing
  • And much more…

New Investors, DO NOT MISS THIS EVENT if you want to learn how to generate motivated buyer and seller leads! Join us and learn how you can generate all the leads you can handle with a little time, effort, creativity and a relatively low budget. Register now and join us on Wednesday, October 26th at 7:00 PM ET.

No Charge to Attend ONLINE for Members or Guests!

Register Now!

See Tampa REIA Events Calendar for More Events!

The Profit October 2016 Edition

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

The Profit - October 2016 - High Quality PDFThe October 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.

Are you tired of making offers on houses listed in the MLS only to have the price bid up by other investors and hedge funds? Well, that’s what happens when there’s an inventory shortage and everyone is chasing the same leads.  The minute a new listing hits the MLS, there are often multiple offers on the home by the end of the day.

Instead of competing for the same small pool of leads, you need to crank up your Lead Generation Machine. You need to generate your own leads… leads no one else knows about but you.  You can do this by using low cost, low tech marketing methods such as…

  • Bandit Signs – Putting out we buy houses signs with your phone number and web address in and around the neighborhoods where you want to purchase will get the leads coming in almost instantly. Be sure to be aware of the sign ordinances in your area to avoid fines. Read More→

Having FUN While Getting it DONE!

Posted on October 10, 2016 by

Welcome back!  In last month’s article, we discussed how it seems like there are a lot of people who are having a really hard time taking the action they need to take in order to have success.  Based on my experience & observations, I theorized that a big reason for this is not just because of the inherent fears that people have, but also because many people seem to believe that the actions they need to take are going to be painful, or at the very least – not fun.

So we began by talking about one of the most common activities that a lot of people seem to have challenges with: Talking on the Phone with Sellers and other people! The first thing that needs to happen is to change your mindset before you even begin to make your calls.

The last thing we discussed was how to use a cheap, simple kitchen tool (a 3-minute hourglass egg timer) to determine whether the person with whom you’re talking is going to waste your time or not.  Go back to last month’s publication and re-read that if necessary.

Now, in this article, we’re going to finish up by learning some cool new tips on how to make taking the actions that you know you should be taking a lot more FUN! Ready? Ok, here we go…  Read More→

Get Paid To Buy Houses

Posted on October 10, 2016 by

So you think you can’t get a seller to pay you to take their problem home off their hands? I have heard many times from students, friends and relatives alike, “are you nuts, nobody would pay you to take a house off their hands.” Wanna’ bet??

There have been many instances where a seller needed to get rid of a piece of property quickly and they needed our assistance to help them make their problem go away. They were more than willing to pay us to make that happen. You have to remember that you are not in the business to make someone else’s problem your problem. We get paid to solve problems for sellers.

Now, you will never get paid to take a house off someone’s hands unless you ask. You never know what a seller will agree to until you ask them. The worst they can do is to simply say “no”. You just have to explain to them why they should pay you to take their problem out of their hands and outline the benefits to them of selling their property this way.  Read More→

When stock markets are volatile, investors (rightly) get nervous. After all, many people have most of their wealth in the stock market. If the stock market goes down, then they see their wealth shrinking…and for people close to retirement, this is a scary prospect indeed. But it doesn’t have to be this way. With Real Estate IRAs, many people learn that retirement income doesn’t have to depend on the quality of the Dow Jones Industrial Average. Instead, retirement income can depend on your strength as an investor, and the wisdom it takes to know what true diversification really is.

And just what is that “diversification” we’re talking about? Some people will tell you that investing with diversification means having the right mix of stocks and bonds, of having stocks split up into small cap, medium cap, and large cap equities. But all that really means is that you’re invested in two different investment categories, all the while ignoring all of the very real possibilities for retirement income that are out there.

If you’re sick of feeling nervous every time that stock ticker heads into the red, then it’s time to broaden your horizons as a wise retirement investor and look into what diversification really means.  Read More→

Want to Get In?

Having a simple process to learn new things can enhance your personal and professional life.  For example, I wanted to learn how to listen to Jazz.  It’s all about the learning curve and experience. I had to have a desire to learn something new. There had to be a simple system that I would be able to relate to and learn something about complicated jazz music. The music seemed to fit my personality. I did not grasp why some jazz was so caustic & other jazz was soothing romantic and enveloping.

If I couldn’t get an understanding quickly, it could prevent me from being able to listen to a new richer, quality music. My goal was to be able to discern really good jazz and why jazz sometimes, just did not fit with my values or my personality.  I utilized a five step process to determine if Jazz was a new genre for me to enjoy.  This same process can apply to seeing if a career in Real Estate is for you, and how to be successful.  Read More→

Launching Your Real Estate Career

Posted on October 10, 2016 by

I want to discuss some basics for getting started in real estate investing.  Everything I’m about to share, can be applied to helping anyone get started in real estate investing. I am going to give you a few keys to getting started.  Of course, REIAComps is essential to making sound decisions for your real estate business.

Let’s talk about a desire to work in the real estate investing field.  Real estate investing may not be for everyone but real estate investing CAN offer anyone the financial freedom we all crave.  But most important is to always take a valuation first approach to every new deal you see. You must know the best purchase price and After Repair Value (ARV) first. Never let someone tell you the value, use REIAComps to know the value for yourself.

Now the people that make it in real estate investing all have a few things in common.  First, they run their real estate investing business like any other business out there.  Second, you cannot be afraid to fail. Everyone has failed at something but the most successful people out there learn from their failures. The third thing is that you have to put a good team together.  You do not want to be the person doing everything in your business. Doing everything is a recipe for failure. You have to put together good people who you can trust and rely on. The fourth thing is that you need a mentor.  Gaining from the knowledge and experience of others is invaluable.  Read More→

Take Action Now!

Posted on October 10, 2016 by

For the last few years I have been giving out advice on how to invest in real estate. On top of that I have been giving out the content for free. However, there are a large number of you who have not or will not take action. At some point you have to take everything you have learned here and everywhere else and take action. Do not be another “paralysis by analysis” type.

The number one thing that you need to do is find a deal. A real deal that anyone would buy, finance and/or want to partner on. In most markets that I am in that magic number is currently 70% LTV minus repairs, sometimes 75% LTV minus repairs. Many would say that these deals do not exist but I am purchasing at least one on these deals each month. You do have to do due diligence on plenty of not so attractive properties but if you look at enough properties you will find a deal. When you find a deal, do not hesitate to write the contract and lock the deal up. Take ACTION! If you write an option contract you have nothing to lose but the option money, which can be as low as $10 but usually $100. This is where your negotiation comes into play. During this option period you will do more extensive due diligence and discover if you really do have a deal.  Read More→

Own Nothing, Control Everything

Posted on October 10, 2016 by

A real estate investor offered to buy me lunch in exchange for information.  He wanted to know how we hold title to our properties; in other words, whose name is on the deed?

When we met, he explained that he’d gone to the deeds room in the courthouse to look up which properties Kim and I own.  After much research, he concluded that we don’t own any houses – and he was right!

But how can I be a real estate investor and not own any real estate?  Easy answer: We don’t own any properties personally!  Having assets in our names can be reckless.  Plus, it can wreak havoc on our estate plan when we die.

(NOTE: I’m not an attorney or a CPA, so what I say is just my opinion.  Seek competent council before you make any big, life-changing decisions.)  Read More→

A good investor always knows the way out before going in. I don’t like the common real estate adage “You make money in real estate when you buy”. Personally I think this is a terrible statement. You make money in real estate when you cash the check and it clears the bank. If you don’t exit the deal profitably then you didn’t make money when you bought. Ask anyone who has been through a foreclosure if they made money when they bought. You may create value when you buy but you make money when you sell. This is why I don’t like that statement. It minimizes the value of a solid exit strategy. In this article I will discuss how to exit a master lease option (MLO) deal PROFITABLY.

The first step in analyzing a MLO deal (or any deal) is to decide how you will get out of the deal someday in the future. This can be hard when you are new to the business because everyone has told you that closing the deal is all important. While closing is important it’s not as important as the exit. Here are some exit strategies for MLO deals.  Read More→

Fighting Value on Short Sales

Posted on October 10, 2016 by

The number one thing you need to understand about a short sale is that the short sale lender must realize the true market value of a property.  Recently we got a house in Sanford that needs everything and I mean everything redone inside and out.  The house has multiple types of siding, the tile inside the house has been pieced together, various sizes and colors, and is pushing up from the ground due to water damage, the rotted wall from the 3rd bedroom was removed which makes the house a 2 bedroom, the air conditioner is not working, doors, lights, fixtures are all missing, and the kitchen cabinets have mold all over them.  SPS is the servicer for the Short Sale Lender and they are really easy to work with.  In fact, they normally process a short sale within 30 days, so you need to be ready when you submit the short sale package to the bank and ask them to provide you with a Broker Price Opinion (BPO) or an Appraisal. 

We submitted everything into the bank and were very excited to immediately hear from a BPO Agent (Real Estate Agent) stating that she has been instructed by the Bank to go out and get value.  We scheduled an appointment to meet her out there.  We had everything ready in a BPO/Appraisal Package to provide to her.  We had the following items:  Purchase Agreement, Estimate for Repairs from a Contractor, Comparables and liens from the City for major code violations.  Read More→

“My grandmother had this high-tech security system – a rusty nail she used to lock the door.” ~ Quincy Jones

Once fall comes, we’re thinking about getting the kids back to school and falling into a familiar routine. You’re not the only one thinking about that, other people may be looking forward to quiet days in the neighborhood too. Break-ins usually happen during the day when no one is at home. If your neighbors are on the same grind as you are, you may not discover a robbery until you get home and see your door open.

These thoughts are frightening, but there are things you can do to prevent it. Wired home alarm systems are great, but if you don’t have the budget to pay a monthly service to monitor your property a one-time investment is perfect. There are wifi cameras and apps that you can use from different manufacturers, motion sensor lighting and timers for your interior lamps. But having the peace of mind that there are eyes on your house at all times and having great customer service is a winning combination.  Read More→

This month we are diverting to another subject that is fresh on my mind.  The concept of momentum.

Momentum is something we all know can be very positive but I believe is greatly underestimated.  When I ride my bike I find some striking analogies to business.  Riding a bicycle, whether rode or mountain involves momentum in a major way.  It’s the difference between going up a big hill or walking it.  It’s the difference between clearing a dirt ramp or rolling over it.  It’s the difference between keeping your rhythm going or speeding up and slowing down constantly which is usually much more exhausting.

The same things apply in business.  As a wholesaler, you have heard it said that you must always be marketing.  I can tell you it is much, much easier to keep your marketing going than to allow it to stop and then start back up.  On a bicycle, when I see a hill coming, I tend to attack it fast which makes it much easier to get to the top.  Business is no different, when you see an issue coming up, hit it and hit hard with such determination that you will find solving problems becomes much, much easier.  Your brain is more open.  Ideas flow more freely.  And you are much more likely to succeed in providing superior service to whoever you need to work with!  Read More→

Thurs, October 13th at 6PM @ Doubletree Suites Tampa Bay
Tampa REIA – October 13th
at the Doubletree Suites Tampa Bay
Generating Buyer & Seller Leads with Low Tech Guerilla Marketing Strategies & Techniques
with Dustin Griffin

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

Dustin GriffinCome join us Thursday, October 13th 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 Dustin Griffin will be talking about how to use simple, low cost, low tech guerilla marketing techniques to generate all the motivated buyer and seller leads you can handle.

As an investor, you know you need to generate buyer and seller leads to succeed. So ask yourself… are you getting enough leads each month to survive and thrive in today’s competitive real estate market? Are you generating at least 20-40 leads per month from your current marketing efforts? If you’re not happy with the number of leads or the quality of leads you’re getting each month, you need to join us for our next Tampa REIA Meeting to learn how to become a lead generating machine.

At the meeting, Dustin will be sharing many of the Guerilla Marketing Strategies and Techniques that he and other successful real estate investors use to generate a steady flow of leads for their real estate investing businesses that won’t cost you an arm and a leg. You will learn:

  • What is Marketing vs Guerilla Marketing?
  • How can one dominate their local market online and offline on a budget?
  • Marketing in 7 Easy Steps
  • Multiple ways to consistently market your business
  • 5 Rules for Marketing
  • And much more…

Please bring examples of your marketing materials such as your business cards, flyers, signs and any other marketing material you would like to share with and/or show the group. Come join us and learn how you can generate all the leads you can handle with a little time, effort, creativity and a relatively low budget.

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

RSVP Now!

Special Bonus Session on Probate Leads
The Do’s & Don’ts When
Marketing to Probate Leads
with Tangie Cousins of Probates Daily

Foreclosures & Probates DailyTangie Cousins of Foreclosures and Probates Daily will be doing a special bonus session on “The Do’s and Don’ts When Marketing to Probate Leads” prior to the main session. Tangie will discuss:

  • How to write your probate letter
  • What to say and not to say
  • How often to Market
  • Who to market to
  • What info you get with probate leads
  • The difference between probate & pre-probate leads
  • And more…
*Meeting Agenda
6:00 PM: Tampa REIA Meeting in Tampa
6:15 PM: Announcements, Introductions, Haves & Wants
7:15 PM: Bonus Session on Probate Leads with Tangie Cousins
7:30 PM: Main Presentation with Dustin Griffin
9:30 PM: Late Night Networking at Bahama Breeze

*Please Note: Meeting agenda is subject to change.

All this is happening at the Tampa REIA main meeting on Monday, October 13th at 6PM at the Doubletree Suites Tampa Bay located at 3050 North Rocky Point Dr West in Tampa, FL. TAKE ACTION, RSVP for this Meeting Now and come join us to learn how to crank up your lead generating machine!

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!

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!