Archive for April, 2017

Thurs, May 11th at 6PM @ Doubletree Suites Tampa Bay
Tampa REIA – May 11th
at the Doubletree Suites Tampa Bay
$30,000 Flips
in Your Own Back Yard
With Special Guest, Reggie Brooks

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

Reggie BrooksMark you calendar right now! Thursday, May 11th at 6PM at the Doubletree Suites Tampa Bay located at 3050 North Rocky Point Dr West in Tampa, FL. Reggie Brooks is going to teach you the steps he took to go from making $3,000 per month at the telephone company, to over $42,000 per month in his real estate business. He did it by doing exactly what he’s going to be teaching, with Vacant, Distressed, Abandoned Properties!

Whether it’s quick cash that you need right now, or long term wealth that you’re looking to build, it can be done fairly quickly. Vacant Property specialist Reggie Brooks is the expert to teach you how to do it.

Here is some of what you will learn from Reggie:

  • How to make big profits using a unique niche in the marketplace – Vacant/Distressed Properties
  • How to invest with no cash or cred
  • Insider secrets that the professional investors use to turn $15,000 profits into $50,000 profits and more
  • Hot new tips and insights that the professionals use to find profitable deals – especially in today’s market
  • Hidden cash producing secrets that even so called smart investors don’t even know
  • How to uncover hidden value in properties that most seasoned investors overlook
  • How to profit from properties that most investors consider worthless
  • How to write your contracts to maximize your profits
  • How to use creative financing to fund your deals
  • And answers to your questions and much more!

Reggie is a dynamic speaker/educator. Come prepared to take lots of notes. You don’t want to miss out on golden nuggets like very creative ways to find motivated owners of vacant properties, or the various case studies of people who have used Reggie’s system to make big profits buying and selling these unwanted properties. RSVP NOW!

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

RSVP Now!

Then Reggie will be returning on Saturday, May 13th for his Vacant/Distressed Property Opportunities Workshop and show you how to buy properties for pennies on the dollar! Do not miss this great learning opportunity!

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 Reggie Brooks
9:30 PM: Late Night Networking at Bahama Breeze

*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 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!
Wed, April 26th @ 7PM on GoToWebinar
Beginning Investors Group ONLINE
Why Wholesaling & Why Now
with Mr. TyCoon on April 26th @ 7PM on GoToWebinar

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

Register Now!

Mr. TyCoonPlease be sure to join us at the Beginning Investors Group Online on Wednesday, April 26th at 7:00PM ET with Mr. TyCoon will be teaching our members and guests “Why Wholesaling & Why Now?!.

You’ve probably hear that wholesaling houses is all about “finding bargain properties and passing them along to bargain hunters at a great price”. You’ve probably also heard that “you make your money in real estate when you buy”. At the meeting, Mr. Tycoon is going to show you “when you wholesale houses, you make your money – in cash – before you buy!” He’s also going to show you why finding bargain properties is probably the most important skill you can ever possibly learn as a real estate investor.

You’ll learn:

  • What is means to wholesale a house
  • How wholesaling can be done with very little money, training and absolutely no cred
  • How to wholesale houses part time and make a full time income
  • And answers to your questions and much more!

Mr. Tycoon will teach strategies that will enable you to…

  • Pay off all your debt and past due bills
  • Start building (or re-building) your retirement account so you never have to work about running out of money during retirement
  • Quit your job and live your life in freedom
  • How to get on the fast track to wealth

Wahid Shakur, aka “Mr. Tycoon”, is an internationally renowned Motivational Speaker, Personal Development Coach, Investment Real Estate Guru and Entrepreneur of Success. Mr. Tycoon is legendary for his “tough but fair” deal-making and negotiation skills. His bestselling book, “Success Is Not A Secret, It’s A System,” extracts the lessons he learned on the road to building his successful real estate investment company and personal fortune, and is the “must-have” guidebook to achieving financial and personal success.

Join us on Wednesday April 26th and learn how to get started wholesaling houses or how to take your existing wholesaling business to the next level. You do not want to miss out on this career changing information! We look forward to seeing you at the meeting!

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!

PLEASE NOTE: This is a BRAND NEW Registration Link for 2017. Even if you have registered for BIGO prior to Feb 2017, you must re-register using this NEW Registration Link for 2017 or you won’t be able to attend any of the upcoming BIGO webinars.

About the Beginning Investors Group Online (BIG O)

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

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

See Tampa REIA Events Calendar for More Events!
Tue, Apr 18th@ 1PM in St. Petersburg
The BRAND NEW
Onsite Renovation Group

Hands-On Learning “Onsite” at Real Renovation Projects
Tuesday, April 18th at 1:00PM
1430 Serpentine Dr. S, St. Petersburg, FL

1430 Serpentine Dr S, St. PetersburgPlease join us on Tuesday, April 18th at 1:00PM for the brand new Tampa REIA Onsite Renovation Group (ORG) to learn all about finding, funding, fixing, and flipping houses for big profits. This month’s meeting will be held at a renovation project located at 1430 Serpentine Dr. S, St. Petersburg, FL which is Jessica Thibodeau and Tyler Cobb’s rehab project. It is 30% complete. This is a 3 bedroom, 2.5 bath, 2474 square foot frame house build in 1966. This is located in the famous “pink streets” of St. Pete. RSVP Now!

Tampa REIA Members & Guests, Please RSVP on Meetup.com
Tampa REIA Members & Guests, Please RSVP on Meetup.com

Onsite Renovation GroupThe Tampa REIA Onsite Renovation Group is an exciting new educational and networking group that focuses on the acquisition, renovation and retail resale (fix & flip) or rental (buy & hold) of single or multi family residential homes in the Tampa Bay Area. The purpose of the group is to allow both new and experienced rehabbers and investors to meet, network, share knowledge and learn from each others successes and mistakes while getting “hands on” experience at real rehab properties.

The Onsite Renovation Group meets on the 3rd Tuesday of each month at 1:00PM at an active renovation site, build site or rental property which will vary from month to month and be announced prior to the meeting on the Tampa REIA Calendar.

Come join us to learn how to rehab houses for big profits the right way… you will be glad you did!

See Tampa REIA Events Calendar for More Events!

The Profit April 2017 Edition

Posted on April 12, 2017 by
The Profit Newsletter for Tampa REIA April 2017
Download the April 2017 Edition of The Profit Newsletter Now!

The Profit - April 2017 - High Quality PDFThe April 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.

The Strategy Behind Filthy Riches

Posted on April 12, 2017 by

Everybody has driven by a house that has been on the market for what may seem like years. You know the house: there might be a broken window here or there, the grass hasn’t seen a lawnmower for the last few summers, and the property overall has the look of negligence.

It might seem ironic, but this is the dog with fleas property that Filthy Riches has based its success upon. We all know in today’s market, these unwanted houses are practically a dime a dozen. These properties are everywhere. They are located in nearly every state and likely even within easy driving distance for you. This is the type property that everyone else avoids – including real estate agents, if they can help it.

After all, who wants to be saddled with an ugly, dilapidated structure like this? There is little to no chance to move it off the market. Or the selling price is so low, the realtor’s commission is practically nonexistent. What realtor wants to put the time and effort into the small commission from selling a $25,000 home when the same energy could be spent selling a home with a selling price six times higher?  Read More→

Be 100% There!

Posted on April 12, 2017 by

How important is it, when meeting with a seller, buyer, renter, realtor or contractor, to be totally focused on that person?  If you’re not paying complete attention to what that person says and how he or she says it (tone of voice, hand gestures, body position, eye movement), isn’t there a good chance you’ll miss critical information that’s being shared with you?

The number of people who are not 100% there during a meeting has become epidemic – and is a major pet peeve of mine!  If you’re over fifty years old, you already know what I’m talking about.  Baby Boomers grew up without cell phones, emails, and text messages.  Heck, we didn’t even have phone answering machines!

Here’s an example of this epidemic at work.  A real estate investor needed help structuring a deal and asked for an hour of my time.  He drove up from Atlanta and met me at the Adairsville Waffle House. Read More→

When making offers on properties as an Investor, you will need to have your exit strategies in place prior to purchasing the property.  What I mean by that is, who is your buyer and what type of financing are you going to allow the buyer to use when you sell the property.  Knowing this will allow you to maximum your profits.

When I look at properties to purchase I always analyze the value of the property and how long I will have to hold the property before I am able to sell the property for a profit.  The comparables that I use are through Realtytrac.com and also the Multiple Listing Service.  Realtytrac will give me the values in the area, however, the Multiple Listing Service “MLS” in addition to values will provide me with how the property was sold ie; Cash, Conventional mortgage, USDA mortgage, VA mortgage or FHA mortgage.  You can normally assume houses under $200,000 that many of the buyers purchasing at this price point are FHA mortgage buyers.  FHA mortgages are mainly used for first-time homebuyers.  The Mortgage Lender requires 3.5% as a down payment which attracts many first-time homebuyers.  Read More→

Doing Equals Results

Posted on April 12, 2017 by

A few months ago, I began learning about and got more involved in apartment investing. I wrote about the steps I took to make industry contacts while building credibility. Fast forward to now and my work is definitely paying off. In many ways, the results I was looking for are coming to fruition but there are also other results, that I did not expect, that are appearing as well.

Some results I expected from my efforts were credibility, partnerships, maybe a mentor, an actual deal, financing and much more that will definitely come with patience and more work. At the beginning I thought credibility was going to the hardest part but it was not. Because I had done my homework and took the time to learn this niche, the people who I spoke with respected the dedication. Another surprise was that all my single family investing actually carried some credibility of its’ own into the apartment investment crowd. From many articles, podcasts, videos, etc. I was led to believe that the multifamily crowd looked down on the single family residential (SFR) investors but it simply was/is not true. In fact, while SFR investing is not a prerequisite, there are many ex- SFR investors who invest in multifamily. These are the people that relate to my current situation and have been eager to provide information and guidance. These relationships have grown into discussions around partnerships and potential financing. While I have still not identified an official mentor I am treating all the assistance I am receiving from multiple investors as a mentorship. This also gives me the opportunity to discuss one aspect of apartment investing with multiple investors so I can then try and decipher which information is best for me and/or which information I personally want to apply. While I have not actually found a multifamily deal that I personally like, I have underwritten many properties. Just like SFR investing, it’s a numbers game.  Read More→

Why do you need a Credibility Kit for your Real Estate Investing business? In fact, what exactly is a Credibility Kit? This is the question I hear most often from students when I am at real estate investing events.

Think about this for a second. Have you ever had a contractor come out to do a bid for you on some work you wanted done, say new cabinets, or siding on your house or new windows?  Do you remember seeing the book they brought with them that showed the photos of jobs they had completed, testimonial letters from satisfied customers and copies of their licensing and insurance? That was their Credibility Kit. Why then as a Real Estate Investor are you not creating this amazing tool for your real estate investing business? This is definitely a tool you will need for your real estate investing business and it’s so easy to create one if you follow a few simple steps.

 Your personal Credibility Kit will not only build credibility and integrity for you with your sellers and lenders, it will give you a serious edge over your competition. Almost none of your competitors know about this incredible tool that makes you look like a true professional in your Real Estate Investing business, whether you are working with sellers or buyers of properties.  Read More→

I have learned how to get enough money to buy any house, at any time, any place, and any condition. Wouldn’t it be great to have the relationships to be able to do just that? This is not out of reach and it is not very far from where you are sitting right now.

I recently got into a conversation with a fellow Investor at the gym and it went like this:

Russ: How is business?

Gabriel: I am so busy. I have 17 houses (being rehabbed) right now and the one you sold me (two months ago,) I haven’t been able to get to yet.

Russ: This is great. How are you getting them?

Gabriel: From people like you, wholesalers.

Gabriel: What are you doing?  Read More→

Why REO’s?

Posted on April 12, 2017 by

We all know that REO is an acronym for Real Estate Owned properties.  Basically, it is a property that has been foreclosed upon and now belongs to the bank or lender. Foreclosure properties have been front page news across America for some time.  I want to discuss REO properties and the best way to profit from these deals. REIAComps is a great way to expose yourself to the true market value of many REO homes in various stages of foreclosure around Atlanta, the state of Georgia and other market areas.

When banks supply foreclosure lists, they also provide the selling prices that they will accept for those properties. Generally, the banks or HUD have the property priced to move, therefore there aren’t a lot of negotiations necessary.  Each property investment is done on a bank-by-bank, house-by-house basis.  Read More→

As I write these words, I’m overlooking the crystal-clear blue-tinged waters of the Caribbean. The boats in the marina are docked and their crews are scurrying about in preparation of the day’s activities. The weather here in Curacao (a Dutch Caribbean island just north of Venezuela) has been exquisite, as my slight sunburn indicates. It should be about 82 degrees here today, while back home it’s a balmy 30 degrees.

So, have YOU taken a vacation recently? Did you have the chance to get away and do something fun, relaxing, or otherwise fulfilling lately?  If not, why not?  There have been countless studies done and research conducted that prove that people who take the time to take vacations live longer, happier, and healthier lives.  Google that if you don’t believe me.  Or ask the guy who sold us our timeshare (I’ll get back to you about that).  Read More→

This month’s tip is so critical to your success. There will be many times when you put deals out and instead of getting an offer, you get feedback from your Buyer.  If it is constructive, and oftentimes it is by people who sincerely want the property, listen!  Buyers, especially experienced Buyers can provide a wealth of knowledge for you on your deals.  They oftentimes have the scars of rehabbing and know many things you may or may not have thought of.  You want to take advantage of this information!

Some things they may share with you:

  • What is the real cost of the rehab (very common) to attain the ARV advertised

  • What the actual ARV for that area is. Remember, if they work that market hard, they oftentimes know several fine nuances that wholesalers rarely consider.  Read More→

One of the most important things I believe every investor should always do before ever making an offer to purchase any property is to first think about what the highest and best use for that property will be. Every day I talk to newer investors who never stop to think about the best use of the properties they look at and how this simple exercise can, and will, greatly improve their profit from every deal they do. It took me years to understand the importance of first considering what I should do with each property I was looking at before even thinking about making the offer to purchase it. This may not seem to be of much importance to those who aren’t experienced investors but one thing is for sure, if you don’t understand how to best utilize the property it will greatly affect the amount of money you make at the end of the day. It is my opinion that you should always step back and take a deep breath before making an offer to purchase a property. Determine exactly what your plans are if you are successful buying the property, while also analyzing the numbers of that property before making your offer to purchase.  Read More→

QBO’s tools are generic enough that myriad businesses can use it. But custom fields and classes help you shape it to meet your specific needs.

Small business accounting is not a one-size-fits-all proposition. Your company is unique in that sense; you have your own customers and products, vendors and services. Your requirements for your accounting application—what it must do and how it does that—is unlike anyone else’s.

QuickBooks Online contains a standard set of features that can accommodate a broad cross-section of the millions of small businesses in the U.S. It also offers customization options that you can use to make it your own. Two of these are custom fields and classesRead More→

The difference between a successful real estate IRA investor and a not-so-successful one often comes down to due diligence. The investor who understands what goes into valuing a property, to include historic and expected cash flows coming in and out as well as risk – is able to make better decisions than a less skilled investor. If you’ve been blindsided by the unexpected as an investor – or if you believe you could be – here are some tips from experienced professionals to improve your due diligence and help you avoid getting caught unaware by the unexpected ever again.

  • Don’t rely on pro forma financial statements and projections that you get from the seller. This is a common rookie mistake. But most of the experienced and successful investors we speak to have never seen a case where the actual cash flows from a real estate investment were better than the pro forma. Any such information you get from the seller should be considered, at best, a wildly optimistic scenario. You want to pay a fair price for the property’s actual performance, not the best-case but highly-unlikely scenario.  Read More→

“HD doesn’t mean anything to me. It’s a technical thing. It’s like demographics. A lot of people know about it.” ~ Craig Ferguson

When we talk about demographic data it is hard to grasp. The US Census information is available for free online, but it is hard to gain anything meaningful from that. The common person isn’t apt at reading through that information, and the way the US Government organizes those numbers isn’t easily absorbed.

Demographix is a very niche app. It is a well organized database that has used the US Census information from 2010. This is not for everyone, but working in different areas I find myself needing access to information fast. Ok Google or Siri doesn’t always answer my questions on the spot. It can take time to work out the details about the population of an area I’m trying to buy or sell a home in. Demographix is neatly organized and at a glance I can look through a clean user interface.  Read More→

Thurs, April 13th at 6PM @ Doubletree Suites Tampa Bay
Tampa REIA – April 13th
at the Doubletree Suites Tampa Bay
Getting Down & Dirty
with Filthy Riches Houses
With Special Guest, Larry Goins

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

Larry GoinsDid you know that there are $5,000 houses out there that you can literally sell for 3-6 times that amount? When we first heard how Larry Goins was buying dirt cheap houses that no one else wants for $5,000 or less and selling them for $30,000 without a buyers list, cash or credit, we just had to get him here to teach you how he does it.

Come join us at Tampa REIA on Thursday, April 13th at 6PM at the Doubletree Suites Tampa Bay located at 3050 North Rocky Point Dr West in Tampa, FL where Larry Goins is going to teach us a strategy to buy houses for $5,000 that nobody else wants and make more money from them than most investors make from a $100,000 properties.

In fact, with his strategy, Larry has discovered that most properties in the $100k range will NEVER create the margin of profit like you can from a $5k house. And hey, can everyone afford a $5,000 house?

The great thing about Larry is he only focuses on tactics that require little cash or credit and that require no previous real estate experience. Not just that, but his strategy can be done completely from the comfort of your home office, aka “virtual investing”.

He calls it his “Filthy Riches” strategy and at the meeting he will share how these types of deals work and how much you can really make. Everything will be revealed at our upcoming meeting, so members and guests, please RSVP NOW!

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

RSVP Now!

BTW, even if you do not have any $5,000 houses where you live, its ok, Larry will show you exactly how to take advantage of this limited opportunity no matter where you live! So RSVP Now and come find out how!

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 Larry Goins
9:30 PM: Late Night Networking at Bahama Breeze

*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 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!

Larry Goins

Posted on April 5, 2017 by

Larry Goins Larry has been investing in real estate for over 30 years. Previously, Larry served as president of the Real Estate Investors Association in Charlotte NC, a not-for-profit organization that has over 350 members and is the local chapter of the National Real Estate Investors Association.

Larry is an active real estate investor and travels throughout the United States speaking and training audiences at conventions, expos, and Real Estate Investment Associations on his strategies for buying and selling houses.

Larry has also written several books on real estate investing that are available wherever books are sold.  Read More→