Search Results for "kim cook"
Real World Real Estate Investing Workshop with Kim Cook & Dorsie Boddiford in Sarasota, FL
Posted on May 17, 2016 bySoup-To-Nuts Real World Real Estate Investing Workshop
With Kim Cook & Dorsie Boddiford
Saturday, June 4th from 9AM-4PM
Der Dutchman Restaurant, 3713 Bahia Vista St, Sarasota FL
Whether you’ve done a dozen deals, or you’re just a beginner, this workshop is for you!
Would you like to learn strategies, skills & techniques from experienced, hands-on, active real estate investors? If so, Join us on Saturday, June 4th from 9AM – 4PM. We’ll show you real estate success at Der Dutchman Restaurant located at 3713 Bahia Vista St. in Sarasota, FL.
Lunch Will Be Included
What you will learn from TWO experienced, hands-on investors/rehabbers/landlords with 25+ years experience:
- How to find those hard-to-get deals that other investors are scooping up
- Templates of real deal structures you can use for profit
- Rehab tricks from experienced flip investors
- Bang-for-your-buck renovation tactics for flip properties as wells as rental properties
- How to work successfully with contractors
- Marketing the property: inexpensive ways to snatch a buyer
Plus, You WILL walk out the door with:
- Kim & Dorsie’s Top Offer Forms
- Quick Offer Forms
- Foreclosure Sheet
- Purchase & Sale Agreement
- Tax Appeal Authorization Form
- Closing Checklist
- Contractor’s Checklist
- Dorsie & Kim’s Marketing Letters
We also have a special NO-CHARGE-BONUS!, On Friday, June 3rd, Bill Cook will be taking us out on a half-day door knocking tour. Bill will show you how to get in front of sellers quickly. The will be a learning experience you will never forget. We will covering several local Sarasota neighborhoods. DO NOT MISS this opportunity!
PLUS After Party, Meet & Greet/Network at Siesta Key (BYOB)
Sarasota REIA & Tampa REIA Members are $29.00 and Not-Yet-Members $99 (this includes 2016 Sarasota REIA Membership dues).
If you have any questions, Feel free to reach out to Ed Taylor at (941)315-8050 or email equityproperties@gmail.com.
Make checks payable to Sarasota REIA. P.O. Box 15474, Sarasota, Florida 34277
Hurry and Mail TODAY!! Limited Seating! Receipt of your check is your RSVP.
Bill & Kim Cook
Posted on July 3, 2012 by
Bill and Kim Cook are a husband and wife real estate investing team. They live in Adairsville, Georgia and have been investing in real estate since 1995.
Their goal is to buy and hold. They specialize in buying single-family homes, mobile homes and mobile home parks.
Kim’s primary focus is on Short Sales. She’s been doing Shorts since 1999 and is one of the most experienced, knowledgeable and successful short sale coordinators in the country.
Bill’s primary focus is on creative deal structuring. He also manages their rental portfolio.
They firmly believe that the key to being a successful real estate investor is to own a number of PAID-FOR investment properties than bring in mailbox money. Read More→
Door Knocking Field Trip with Bill Cook on June 18, 2016
Posted on May 16, 2016 byJoin us for a REAL, LIVE, HANDS-ON…
Door Knocking Field Trip
Meeting Sellers and Making Written Offers
With Bill Cook
Saturday, June 18th from 9AM-4PM
Meet at McDonald’s at 6505 S. Dale Mabry Hwy, Tampa, FL at 8AM for Breakfast. Registration & Sign-in at 8:30AM
Do you want to SEE and EXPERIENCE the fastest, cheapest, most effective way to get face-to-face with motivated sellers?
If so, then please join me, Bill Cook, for a day full of door knocking with real sellers on Saturday, June 18th from 9AM – 4PM. We’ll meet at McDonald’s located at 6505 S. Dale Mabry Hwy in Tampa near Ballast Point at 8AM if you want to have breakfast with us at your own expense. Registration and sign-in begins at 8:30AM. The event starts at 9AM. We will then spend the day out talking to sellers and constructing win-win deals at their kitchen tables.
Have you ever spent the day with a seasoned investor getting face-to-face with homeowners and sellers and making written offers? Do you want to?
On Saturday, June 18th, Bill Cook will take a select group of real estate investors from Tampa into local neighborhoods and show them:
- What to say to a seller!
- Where to stand after knocking on a homeowner’s door!
- How to get 8 out of 10 sellers to invite you in!
- How to make a written offer right there on the spot!
This isn’t classroom theory stuff. It’s a 100% real-world experience!
Most real estate investing teachers can talk-the-talk, but how many have you watched walk-the-walk? This will be a one-of-a-kind event. No other investing teacher does what Bill does!
Bill and Kim built their real estate investing business square on the back of knocking on sellers’ doors. They’ve been doing this for more than 20 years!
The 10 Most Important Things You’ll SEE Door-knocking with Bill on June 18th:
- What’s the fastest, cheapest and most effective way to build your investing business
- What to say to a seller…and the most important questions to ask
- How to get 8 out of 10 sellers to invite you in
- How to write a win-win offer right there on the spot
- Why you should never look for deals
- Why it’s critical to be curious
- Why the rainmaker is king
- The best way to find a property’s FMV (fair market value)
- The best way to find a neighborhood’s FMR (fair market rent)
- The best way to learn things about a vacant property
Will you learn something new? You bet! Will you see things you’ve never seen before? Positively! Will you be able to take what you’ve learned and put it to use the next day? Absolutely!
Bill and Kim have tons of experience at creatively constructing and funding win-win deals. Their investing portfolio is made up of single-family rental homes, mobile homes, a small mobile home park, plus notes and options.
Contact us now if you want to go out and watch Bill talk to homeowners and sellers, learn how he gets 8 out of 10 sellers to invite him in, and how he makes written offers right there on the spot!
We promise that you’ll see things you’ve never seen before – or will ever see again!
Here’s a ratio for you: If I talk to 10 sellers at the door, 8 will invite me in – EIGHT! Are you getting this kind of result from your bandit signs or website? A question for you: To be a successful real estate investor, do you need to meet with more sellers or less sellers?
While real estate investing is simple, it’s anything but easy. To be successful, the MOST important thing you must do is get face-to-face with sellers on a regular basis. Nothing takes the place of this. NOTHING! It’s the alpha and omega of real estate investing!
Your next question is probably: “Bill, what qualifies you to teach folks how to door knock and meet with sellers?” Beginning in 1978, I put myself through college selling Electrolux vacuums door-to-door. In 1995, I switched from Electrolux and became a full-time real estate investor. No one else in the country has this amount of experience at homeowners’ doors.
You are either serious about real estate investing or you’re not. If working 40 hours a week for the man isn’t your idea of financial freedom, if you’re a round peg who is being forced to fit in into a square hole, then come spend the day with me. It will be time well spent. And at the end of the day, if you feel that it wasn’t, I’ll gladly refund your hard-earned money with no questions asked.
Looking forward to having you join me. Remember, I LOVE questions! See you there!
Bill Cook
Talking to Sellers & Making Written Offers on May 14, 2015 with Bill Cook
Posted on April 20, 2015 byat the Doubletree Suites Tampa Bay
with Special Guest Speaker, Bill Cook
Tampa REIA Members Can Attend at No Charge.
Guests Can RSVP Online Now for $15 or Pay $20 at the Door.
Tampa REIA Members Please RSVP on Meetup.com
if you have a meetup account.
Many people have been asking for it, and we are excited to announce that Bill Cook will be our special guest speaker this month at our main monthly meeting on Thursday, May 14th at 6PM at the Doubletree Suites Tampa Bay located at 3050 North Rocky Point Dr West in Tampa, FL. Bill will be teaching us how to talk with sellers and make profitable, written offers on the spot.
When you meet with a seller, do you know what to say? Do you know the most important questions to ask? Can you make a written offer right there on the spot?
Again: Do you know how to make a written offer right there on the spot?
The #1 reason most would-be real estate investors fail is because of F-E-A-R! The fear of not knowing what to say, and the fear of a seller’s reaction to a low offer. What if you could make a safe, full-price offer to every seller?
How can you tell if fear is holding YOU back? Here’s an easy test: 1) How many sellers have you met with this month? 2) This year? If YOUR numbers are less than YOU think they should be, why are they less? Are you even tracking these two most-important numbers?
Remember: The alpha and omega of successful real estate investing is getting face-to-face with sellers and making a lot of written offers!
Do you want to SEE how to do this in action? Do you want to SEE where the best deals are right now? At Tampa REIA’s meeting on May 14th, Bill Cook will explain what he says to a seller, and how he makes a written offer right there on the spot!
Sure Bill can talk the talk, but he also walks the walk!
But wait… there’s more…
Get ready for something VERY special…something almost no real estate investing teacher will do. On Saturday, May 16th, Bill will spend the day with a select group of investors in neighborhoods SHOWING YOU how he knocks on homeowners’ doors, gets 8 out of 10 sellers to invite him in, and how he makes written offers right there on the spot!
When was the last time you spent the day with an experienced dealmaker getting face-to-face with sellers and making written offers in the real world? Ever?
Will you learn something new at the May 14th and 16th events? You bet! Will you see things you’ve never seen before? Positively! Will you be able to take what you’ve learned and put it to use the next day? Absolutely!
Bill & Kim Cook have been investing in real estate for more than twenty years! They’ve built their business square on the back of knocking on sellers’ doors. They have tons of experience at creatively constructing and funding win-win deals. Their investing portfolio is made up of single-family rental homes, mobile homes, a small mobile home park, plus notes and options.
10 Things You’ll Learn At The Meeting:
- The #1 cause of investor failure
- The two most important things an investor must do to succeed
- How to conquer the fear of meeting with a seller
- The most important thing you see at a seller’s house
- What is an offer – how is it different from a purchase contract
- How to write a win-win offer
- The difference between a terms offer and a price offer
- The two most important tools that every real estate investor needs to carry
- Is it crazy to offer $1 million for a $125,000 house – bet the answer will shock you!
- Those attending get a FREE copy of Bill’s Offer Form
Several people missed out on hearing Bill speak the last time he was here and have been asking when he was coming back for over a year now. Do not miss the opportunity to learn from this amazing and successful real estate investor!
Tampa REIA Members Please RSVP on Meetup.com
if you have a meetup account.
*Please Note: Meeting agenda is subject to change.
WIN 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.
After the conclusion of the Tampa REIA Main Meeting (around 9:30PM), 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!
Door Knocking Field Trip with Bill Cook on May 16, 2015
Posted on April 20, 2015 byJoin us for a REAL, LIVE, HANDS-ON…
Door Knocking Field Trip
Meeting Sellers and Making Written Offers
With Bill Cook
Saturday, May 16th from 9AM-4PM
Meet at McDonald’s at 8214 N Florida Ave, Tampa, FL
Do you want to SEE the fastest, cheapest, most effective way to get face-to-face with motivated sellers?
Then join me, Bill Cook, for a day full of door knocking with real sellers on Saturday, May 16th from 9AM – 4PM. We’ll meet at McDonald’s located at 8214 N Florida Ave in Tampa near Old Seminole Heights at 9AM and spend the day out talking to sellers and constructing win-win deals at their kitchen tables. Arrive early if you want to have breakfast with us at McDonald’s.
Have you ever spent the day with a seasoned investor getting face-to-face with homeowners and sellers and making written offers? Do you want to?
On Saturday, May 16th, Bill Cook will take a select group of real estate investors from Tampa into local neighborhoods and show them:
- What to say to a seller!
- Where to stand after knocking on a homeowner’s door!
- How to get 8 out of 10 sellers to invite you in!
- How to make a written offer right there on the spot!
This isn’t classroom theory stuff. It’s a 100% real-world experience!
Most real estate investing teachers can talk-the-talk, but how many have you watched walk-the-walk? This will be a one-of-a-kind event. No other investing teacher does what Bill does!
Bill and Kim built their real estate investing business square on the back of knocking on sellers’ doors. They’ve been doing this for more than 20 years!
The 10 Most Important Things You’ll SEE Door-knocking with Bill on May 16th:
- What’s the fastest, cheapest and most effective way to build your investing business
- What to say to a seller…and the most important questions to ask
- How to get 8 out of 10 sellers to invite you in
- How to write a win-win offer right there on the spot
- Why you should never look for deals
- Why it’s critical to be curious
- Why the rainmaker is king
- The best way to find a property’s FMV (fair market value)
- The best way to find a neighborhood’s FMR (fair market rent)
- The best way to learn things about a vacant property
Will you learn something new? You bet! Will you see things you’ve never seen before? Positively! Will you be able to take what you’ve learned and put it to use the next day? Absolutely!
Bill and Kim have tons of experience at creatively constructing and funding win-win deals. Their investing portfolio is made up of single-family rental homes, mobile homes, a small mobile home park, plus notes and options.
Contact us now if you want to go out and watch Bill talk to homeowners and sellers, learn how he gets 8 out of 10 sellers to invite him in, and how he makes written offers right there on the spot!
We promise that you’ll see things you’ve never seen before – or will ever see again!
Tampa REIA Meeting on Sept 12 with Peter Fortunato & Bill Cook on Creative Deal Structuring
Posted on August 27, 2013 byWith Pete Fortunato and Bill Cook
Two Masters at Creative Deal Structuring and Financing
You meet with a seller. The seller is VERY motivated and DESPERATE to sell. You’ve been looking for a deal just like this one! Three Questions: How are you gonna fund it? How are you gonna structure it? And once you have it, what are you gonna do with it? Do you know how to use creative deal structuring and financing to make the IMPOSSIBLE deals POSSIBLE?
This meeting is like no other! There’s no hype and no bla-bla-bla! Come participate as two experienced investors, Peter Fortunato and Bill Cook, with nearly 70 years of combined real estate investing experience use real-world examples to show how you can make the impossible deals possible.
WARNING: This is NOT a sit-on-your-fanny-and-watch-the-show meeting. We want YOU to be part of the meeting and help us find the best ways a deal can be put together!
HERE’S HOW IT WORKS:
Pete and Bill will give you the following information about the seller and the seller’s property:
- A description of the property and its current fair-market value
- What needs to be rehabbed and the estimated cost of rehab
- Loans and liens against the property
- The seller’s situation (“Why they want to sell such a nice house like this.”)
- What the seller wants
Next, there will be a group discussion about how to best structure and fund the deal. Then Pete and Bill will reveal what they’d do and why they’d do it that way.
Wouldn’t you agree that this meeting is an INCREDIBLE opportunity to climb into the minds of two experienced real estate investors and see how their brains work as they construct win-win deals? How they not only make the impossible deals possible – but make them PROFITABLE?!!!
And it keeps getting better: Pete and Bill will also discuss how they fund their deals WITHOUT going to banks. Woe unto anyone who dares say that they can’t do a deal because they can’t get a bank loan. This is your only warning: If you say, “I can’t do the deal because I don’t have the money,” you’ll be on the receiving end of Bill’s deadly accurate marshmallow gun!!!
HERE ARE SOME OF THE STRUCTURING TECHNIQUES PETE AND BILL WILL TOUCH ON:
- Owner-carryback Financing
- Using Private Money Lenders
- Subject-to Deals
- Deed for Note Deals
- Lonnie Deals
- Master Leases
- Options
BONUS #1: Pete will show you his Benefit’s House. Most investors think a deal consists of just one thing: the house. Actually, a deal has eight parts: Growth, Income, Amortization, Profits, Management, Tax Benefits and Use. You want to be there when Pete talks about how he uses the different parts to make a deal work!
BONUS #2: Bill has knocked on homeowners’ doors for a living for more than 35 years. He’ll show you exactly what he does at a seller’s door to get 8 out of 10 sellers to invite him in to see their home.
Come early! Come ready to learn! Come with pad and pen! Come ready to participate! Come join us at Tampa REIA on Thursday, September 12th at 6:00 PM at the Doubletree Suites Tampa Bay located at 3050 North Rocky Point Dr West in Tampa, FL!
This real estate investors meeting will be like no other meeting you’ve ever attended. Your mind will NEVER be able to SHRINK back to its before-the-meeting size! After this meeting, you’re gonna need a new and bigger hat! And after this meeting, you’re gonna KNOW WHAT’S POSSIBLE!!!
WIN A CRUISE: All participants who attend the Tampa REIA Meeting will entered into a drawing for a chance to win a *Complimentary 2 Day Cruise to the Bahamas with Caribbean Cruise Line! *You must be present at the meeting to win. The 2 day Cruise does not include port fees, transportation and taxes.
After the conclusion of the Tampa REIA Main Meeting (around 9:30PM), 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!
The Power of a Refusal Option
Posted on September 18, 2017 byI hate being an idiot, but when you screw up like I just did, it qualifies me to be the biggest nimrod in the land!
The most powerful document in real estate investing is the option agreement. Sadly, the least used and most misunderstood document in real estate also happens to be the option agreement. Why don’t more folks know how to effectively use options to control property? Probably because there are so few investors who have experience using options.
Most folks have heard of Lease Options, but what about Purchase Options, Performance Options and First Right of Refusal Options, to name but a few? Read More→
How We Creatively Funded A Recent Deal
Posted on August 10, 2017 byHow do seasoned real estate investors creatively fund their deals without going to a bank? To show you one way, let’s look at a deal that Kim and I recently got funded using a private-money lender.
This deal began when Kim and I were high bidders at the December 3, 2013 property tax auction in Cartersville, Georgia. We bought the tax deed on 50 Akin Drive for $2,800. The purchase money came from our checking account and was used to pay up the property’s back taxes for tax years 2010, 2011, 2012 and 2013. By the way, despite what the TV infomercial claims about buying tax deeds, as the high bidders, we only owned the tax deed, not the property!
Over the next twelve months, either the property owners (who had abandoned the property) or their mortgage company had the right to buy back the property’s tax deed for our $2,800 purchase price, plus pay us a fee of 20% interest. Read More→
Avoid the Certainty of Poverty
Posted on July 13, 2017 byHad a good conversation with an investor friend about the financial collapse of Greece. The country is so broke that not only can it not repay its loans, it can’t make its note payments either. What’s Greece’s solution to this financial meltdown? They want to borrow even MORE money!
It’s crazy for anyone – including a country – to believe that the way to get yourself out of a financial hole is to dig it even deeper! Yet that’s exactly what Greece – and way too many American families…and America herself – is doing.
Jack Miller, my long-time teacher until he joined the other angels in heaven, taught us how to avoid the certainty of poverty. He also shared what he had learned from Warren Hardin: It’s inconvenient to be physically alive but financially dead! Read More→
Buying at the Foreclosure Auction
Posted on June 8, 2017 byFrom 2013 through 2016, Kim and I have rarely been the high bidders on a property at the foreclosure auction. Why the dry spell? Because the cheese has moved! For example, from 2007 through 2009, the best deals were found buying short sales. From 2010 through 2012, the best deals were found buying at the foreclosure auction. From 2013 through 2016, the best deals have been found by buying pre-foreclosures. Remember, the cheese is always moving. To be successful, you can’t keep going back to where the cheese was – you must go to where it is today!
Here are the basic steps Kim and I follow when bidding at the foreclosure auction. (NOTE: Be aware that each state’s foreclosure laws are different.) First, in Georgia, before a property can be auctioned for foreclosure, it must be advertised in the county’s paper of record for four consecutive weeks before the auction. Call your county’s Clerk of Court’s office and they will tell you in which paper and on which day(s) the “legals” (including foreclosure notices) run.
On the day the foreclose notices first run for next month’s auction, we buy that paper and transfer the foreclosure info in the paper – which is difficult to read – onto our Foreclosure Sheet – which make it much easier to read! Read More→
How to Work Pre-Foreclosures
Posted on May 9, 2017 byGoing to the foreclosure auction was the best way to find real estate investing deals from 2009 through 2012…talk about lots of low-hanging fruit! We were often able to buy a nice three-bedroom, two-bath home in a solid neighborhood for $35 a square foot. Then in 2013, the cheese moved. Buying on the steps was no longer the best place to get deals.
Let me explain: In April 2012, there were close to two hundred properties advertised for foreclosure in Bartow County, but at the auction, there were only five investors bidding on them. It was like shooting fish in a barrel. One year later – April 2013 – there were less than eighty properties advertised with more than fifty – that’s 50 – investors and hedge funds bidding on that handful of properties. Suddenly, because of the law of supply and demand, winning bidders found themselves paying $80 to $110 a square foot for a house. This was a huge year-over-year price increase!
Did this mean that all the great deals had disappeared? No, it simply meant that to find great deals, investors had to look somewhere else – like buying properties pre-foreclosure. Read More→
Be 100% There!
Posted on April 12, 2017 byHow 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→
Two Pay Checks Away From Being Broke
Posted on March 8, 2017 bySure, there are reasons – good reasons – to not own rental property: tenants, vacancies and repairs, to name three. But have you ever spent time thinking why owning investment real estate might be a good idea?
Last year, my father-in-law was rushed to the hospital with what doctors thought was a massive stroke. When the ambulance arrived, he was taken directly to ICU where a ventilator was inserted, and to prevent further injury, he was given medicine to induce a coma.
Kim and I had to live at the hospital for several weeks. Gotta tell you, an ICU’s waiting room is full of interesting life lessons. Read More→
Are Your Property Taxes Too High?
Posted on February 9, 2017 byAre your property taxes too high? If they are, in the past three years, how often have you attended your county commissioners’ meetings to voice your outrage?
My mother taught me early on that silence is a form of acceptance. Most times at these county commissioners’ meetings the silence was deafening!
If your property taxes are too high and if you don’t speak out at the public government hearings, then you lose your right to complain. Instead, just step up to the window and pay the nice lady what you owe without one complaint!
Since 2006, Kim and I have fought our property taxes 142 times. We’ve won 122 times – that’s an 86% success rate. I don’t say this to brag; I say this to let you know that you can fight your property taxes and win! Just know that it’s a learned thing, not a born-knowing-how-to-do-it thing, and it begins with standing up and speaking out! Read More→
Stay the Course
Posted on January 11, 2017 byHow do you succeed as a real estate investor? How do you succeed as a person? Simple: Stay the course!
But what course? Whose course? Heck, how do you know if you’re even on the right course?
Your course begins with an idea – YOUR idea! What feels right to you? Answer this question: What were you put on earth to do? Ever thought about this? I mean, after all, you’re here for a reason, right? What’s that reason?
For eighteen years, I sold Electrolux vacuums door-to-door. It paid me a lot of money. Only one problem: I wasn’t put on earth to sell vacuums door-to-door. So why didn’t I quit much sooner? Because everyone around me told me that I’d be a fool to walk away from the huge money-earning potential Electrolux offered. Read More→
Be Hard on the Problem and Soft on the Person
Posted on December 8, 2016 byAn investor who has owned four rental properties for the past three years called me for help. He was at his wits’ end. Because he hated dealing with tenants so much, he was seriously considering dumping all of his rentals! By the way, this is not an uncommon feeling for new, inexperienced, and under educated landlords to have.
When we met to discuss his situation, he let me hear a recording of a conversation he had had with a tenant a few days prior…and I use the word “conversation” with loosely.
The tenant consistently paid his rent six to ten days late. This sent the landlord into orbit. Over the phone, the landlord screamed at the tenant, “You are a liar, an idiot and you’re totally worthless! Pack your crap and get out of my house right dang now!” And from there, the landlord’s words really turned foul. I felt sorry for the tenant and angry with the landlord for losing control. Read More→
How Can One Deal Lead to More Deals?
Posted on November 9, 2016 byMost folks think real estate investing consists of finding a deal, taking it down, getting it rehabbed and sold, and then going out to find the next deal. But what if you structured the deal in such a way that one deal leads to more deals? Let’s look at two real-world examples of this.
A few years ago, our good friends Joe and Ashley English, found an investment property they wanted to buy. Only one problem: they didn’t have the money to buy the home. Joe sent an email to several investors explaining that he was seeking funding.
Within minutes, Joe’s phone rang. It was Pete Fortunato – the best creative deal structurer we’ve ever met. Pete was on Joe’s email list.
After a short conversation, Pete agreed to fund Joe’s deal with these terms: Joe would pay Pete one-half of the $400 net monthly rent. In addition, if Joe sold the property, he and Pete would split the net profit 50-50. This is known as a performance loan. The purchase money would come from Pete’s Roth. Read More→
Own Nothing, Control Everything
Posted on October 10, 2016 byA 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→
What Does Creative Deal Structuring Look Like?
Posted on September 7, 2016 bySince 1999, Kim and I have continually learned from Pete Fortunato how to creatively structure and fund our deals – without going to banks!
The BEST real estate investing meeting we attend is the weekly Real Estate Exchangers meeting in St. Petersburg, Florida. It’s creative deal structuring and funding at its most pure.
Here’s an example of a deal that was put together at yesterday’s meeting.
Rich has a SUV that he’ll sell for $3,000 cash. Pretty straight up deal, right?
Pete offers to trade his Nissan truck for Rich’s SUV. But Rich doesn’t want a truck; he wants $3,000 cash! Does Pete have a hearing problem or what?
Here is a classic example of Use What You Have, To Get What You Need, To Get What You Want. Read More→
Sage Advice From an Old Investor
Posted on August 9, 2016 byAfter 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→
