The Profit – December 2013

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The Profit Newsletter for December 2013

How Many Units to Retirement?
By Bill Ham
Bill HamDo you have a solid plan to have your real estate investing be your vehicle to retirement? Do you know how many units you need to own to quit that job? Not having a solid plan of action is one of the biggest mistakes I see new investors making. Most people know that they want to be full time investors and they want the passive income from real estate to replace their working income but they never really form a solid plan to get to that goal. Read More>>

Who and What is Your Market?
By Dustin Griffin
Dustin GriffinIn last month’s article we discussed Step #1 of “Determining Your Marketing Plan in 7 Easy Steps” which was to “Determine How Many Leads You Need to Succeed”. This month we’re going to cover Step #2 which is to “Determine Your Market”. A Market (noun) is defined as “a place or area where products and services are bought and sold”. Your market consists of the area where you do business, the products and services you buy and sell as well as the buyers and sellers of your products and services. Read More>>

A Barrel Full of Fishhooks
By Bill Cook
Bill CookLast Friday, I took Michele, a new real estate investor, out knocking on sellers’ doors. Hers was a very, very special case that touched my heart. Recently, Michele lost her husband. This caused her to fall into financially troubled times. In an attempt to dig out of the I-don’t-have-any-money pit, she attended one of those “free” real estate investing dog-and-pony shows that come to town regularly. Read More>>

Busy Season? Don’t Lose Your Mynd!
By Don DeRosa
Don DeRosaI love the holidays! But they can be pretty tough to navigate, what with parties, church and synagogue events, school happenings, gift shopping, cooking, work, and everything else I’ve got to manage. Thank goodness for my iPad, because otherwise, I would forget about Grandpa Bill’s annual Christmas Luau. And that party is a hoot! Read More>>

The Most Cost Effective Way to Find Deals
By Matt Larsen
Matt LarsenAlright – Winter Time! Time to hunker down and do some deals before Christmas. You want to give out good gifts this year right? Well get to it then! It’s cooler out so you will be less tempted by the beach and the pool and can focus on your marketing and getting the phone to ring. So as I am writing this article in early December, I’m thinking about the deals we did in October. Read More>>

Self-Directed IRAs: Investing in What You Don’t Know
By Jim Hitt
Jim HittIf you’ve been following our articles, then you know we have often talked about how self-directed IRAs give you the freedom to invest in what you know and understand with your retirement account. This is the first time that we will talk about investing in what you don’t know. Introducing Jenna, she is new to real estate investing and knows some very experienced real estate investors she can lean on for advice. Read More>>

Prescreening Prospects
By Ron LeGrand
Ron LeGrandIn our last issue, I dealt with Locating Prospects by using a virtual assistant to call FSBO ads. I said that’s pretty much all we do here and can’t keep up with the leads they generate. This month we’ll discuss how to determine if it’s a suspect or a prospect and quickly determine which need to be called and which need to be trashed. It all begins with my Property Information Sheet… Read More>>

Marketing to Motivated Sellers in Rural Communities
By Kathy Kennebrook
Kathy KennebrookSince I am the type of investor who purchases properties in multiple counties and in multiple states, I have had lots of experience buying homes and vacant land in rural communities. In fact this is a part of our business that we find to be very profitable for us. I will share with you that buying properties this way is a science in and of itself. Read More>>

You Can Rely on Assessed Value
By Mark Jackson
Mark JacksonAs a trainer of appraisers for nearly 15 years, to those who hold private and public roles, one thing is certain, local assessor offices around the country make relying on their values rough on investors. However, for those of you connected to REIAComps, the control and feeling of confidence you have over your deals is priceless. The stuff going on in places like Clark County, NV or even your own area won’t shake you. Read More>>

Why Are Banks Letting Criminals Steal Homes From Them?
By Bob Massey
Bob MasseyThe last several months have been extremely encouraging for real estate investors who are purchasing notes from banks! Every day more and more judgments in foreclosure cases are coming down in the homeowner’s favor as judges become aware of the depth of fraud the banks have committed. What we are seeing in the market is more judges making the right decisions, and the banks starting to run scared of this turning tide. Read More>>

It’s Time for a New Year and a New Plan!
By Larry Harbolt
Larry HarboltHere it is almost the end of another year and it’s time to ask yourself again, was this a prosperous year for you or not? If you feel that you haven’t had as prosperous of a year as you might have wished for you may want to ask yourself what you could possibly do differently next year to achieve your financial goals. Read More>>

What Makes or Breaks a Short Sale?
By Kimberlee Frank
Kimberlee FrankMany Realtors and Investors really don’t know the secrets to a successful short sale. They think just because they make an offer close to market value that their short sale should go thru! Obviously, that is not correct. The secret to a successful short sale consists of several things including 1) listing price and 2) broker price opinion/appraisal on the property. Read More>>

How to Make a Website For Fun or Profit – Part 3
By Tony Pearl
Tony PearlHello – Nice To See You Again! Here’s what you’ve learned in the first 2 parts of this article: (1) How important it is to have a website, if you’re in business in the 21st Century. (2) There are so many things you can do with it, like get more business, educate your consumers, entertain an audience, inspire your community, link it to Facebook, etc… and that’s just scratching the surface… Read More>>

Case Study – Single Person Asset Protection
By Dyches Boddiford
Dyches BoddifordRick is a single person with no immediate family. After hearing a discussion I did on stacking Limited Liability Companies (LLCs), he wanted to know what he could do as a single person. At the time he owned seven properties. Three had almost no equity. One had over $60,000 equity and the other three varied from $25,000 to $30,000 in equity. Read More>>

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