Savannah REIA Blog

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I recently read a book by Grant Cardone called the 10x rule. I am rereading it again now because it made such a strong impact. I highly recommend as soon as you are done reading this article, you buy it immediately. I do not get any kind of credit for it. It’s simply a must read for investors, in particular wholesalers.

Wholesaling is a massive action business. It takes massive action to keep the lead funnel going which is what powers the entire business. In his book, Grant talks about four levels of action to give clarity as to what your goal should be. I paraphrase them below.  Read More >>

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“The one thing that unites all human beings, regardless of age, gender, religion, economic status, or ethnic background, is that, deep down inside, we all believe that we are above-average drivers.” ~  Dave Barry

Life360 is an app I can’t imagine life without. I have a 16 year old driver in my family and it gives me some peace of mind knowing I can keep tabs on his miles per hour, hard breaks, even his phone useage. It will even contact me in the event of an emergency like an accident or a break down. I believe this is a must have app for any new driver.

You can do more than just spy on your kid with this app. It’s a nice closed circle where you can view the real time location of friends or family members on a private map. There are many other options to use the app. For example, you can receive real time alerts when friends or family arrive or leave home, work, and school. It’s nice if you have younger kids and you don’t want them on social media, but you can still have that experience of sharing photos and text messages with our secure, private chat. You can easily add or delete people from your ‘circle’ and see past location history for your Circle. There is also a Crash Detection service that will contact the parent or guardian. The most impressive thing is that you can track a lost or stolen phone.  Read More >>

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

Please be sure to join us at the Beginning Investors Group Online on Wednesday, June 28th at 7:00PM ET with Donna Bauer who will be teaching our members and guests about the fastest, easiest and safest way to make huge profits in real estate using notes.

Donna Bauer, nationally known as The Original NoteBuyer®, is one of the nation’s most recognized subject matter experts on Discounted Notes, Seller Financing, and Distressed Mortgages. For over two decades, Donna’s exclusive strategies have produced stunning results regardless of economic conditions.

As thousands of successful investors have discovered, Donna’s approach to real estate investing is brilliantly suited to today’s unique market and the shift toward alternative forms of financing.

Whether you are a conservative investor or a risk taker, buying notes puts you in control of your real estate transactions and your personal wealth planning.

Donna will teach you how to:

• Create quick cash and long term cash flow with 3 Basic Note Buying Strategies—WITHOUT your own cash or cred
• Evaluate 4 critical areas before buying a note
• Create an ‘ultra safe’ deal, even in a down market
• Buy and sell properties WITHOUT ever needing a bank
• And Much, Much More!

Donna began her note buying career over 25 years ago in search of a vehicle that would offer her financial security without sacrificing cherished time with her four children. Working from her dining room table, as she began closing discounted note deals across the country, she realized that she had found a gold mine! Now, with well over a thousand deals under her belt, her peers consider her to be the foremost subject matter expert on note buying, while her students acclaim her as being a gifted, inspiring mentor.

Join us on Wednesday June 28th and get this knowledge from Donna Bauer! We look forward to seeing you at this event!

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.

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.

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

Please be sure to join us at the Beginning Investors Group Online on Wednesday, May 24th at 7:00PM ET with creative real estate expert, Larry Harbolt on how and why you should be using Land Trusts to purchase and control your real estate deals. Perhaps you've hear many, more seasoned investors talking about buying houses in trust but didn't know what they were talking about. Now is your chance to find out more about why Land Trusts are so important for your real estate business.

Register for BIG Online Now (No Charge) and Larry will teach you things like...

• What is a Land Trust
• Why you should be using a Land Trust for every property you purchase
• Advantages of Using Land Trusts
• Disadvantages of Land Trusts & what to do about it
• How to create a Land Trust in minutes
• And much more!

If you've been wanting to learn more about Land Trusts, Register for BIG Online Now and don't miss this rare opportunity for Larry to teach you how to add this powerful tool in your real estate investing tool box.

Larry Harbolt is the nation’s leading creative Seller Financing expert as well as a popular national real estate speaker and teacher whose time-tested strategies and nuts and bolts teaching style has helped thousands of aspiring real estate entrepreneurs realize their financial dreams with little or no money and without the need for credit. Larry has been successful creatively buying and selling real estate for over 30 years and has written numerous popular articles and real estate courses.

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.

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.

Read More >>

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The May 2017 Edition of The Profit Newsletter is now available for download. There are 50 pages this month full of upcoming meetings, workshops, educational articles and other valuable information for your real estate investing pleasure and success. Download it and check it out!

The Profit is Atlanta REIA's digital, interactive newsletter for serious real estate investors delivered as an Adobe PDF file to read on your PC, Mac, Smart Phone, iPad or other mobile ready devices. Many of the articles and ads in The Profit contain many hyperlinks you can click to get more information online! The high res version of The Profit is "print ready" for those who want to print the newsletter on their home or business printer.

Be sure to Subscribe to The Profit by Email or Subscribe to The Profit by Text so you don't miss a single issue.

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Come join us at our next Savannah REIA Monthly Meeting on Monday, May 8th at 6:30PM hosted by Aislee Jackson at the Homewood Suites Savannah located at 5820 White Bluff Rd, Savannah, GA. This is our main Savannah REIA Meeting for the month, so don’t miss it! Please be sure to invite your friends to join us at the meeting and to follow us on Meetup.com and Facebook.com. We look forward to seeing you at the meeting!

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

This is our main Savannah REIA Meeting for the month, so don’t miss it! Please be sure to invite your friends to join us at the meeting and to follow us on Meetup.com and Facebook.com. Read More >>

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Join us at the Note-Buying Workshop on Saturday, May 20th at 9:00 AM at 3125 Presidential Pkwy, Atlanta, GA with Donna Bauer to learn how buying notes and discounted mortgages the right way, could put you on a path of financial success. During this full day workshop, Donna will expand on the concepts she was only briefly able to talk about Monday night at the Atlanta REIA Main Meeting.

Donna will teach you specifically how to...

• Create quick cash and long term cash flow with 3 Basic Note Buying Strategies—WITHOUT your own cash or credit
• Evaluate 4 critical areas before buying a note
• Create an ‘ultra safe’ deal, even in a down market
• Buy ‘part of a note’ for super high returns and safety
• Create SMART seller financing for maximum cash out later
• Buy and sell properties WITHOUT ever needing a bank
• Have all of the safety and high returns of a real estate investment without dealing with the tenants, trash and toilets
• Answer your questions and more!

Plus, You will learn how to...

• Use defaulted bank loans as a backdoor to acquiring properties well below market value
• Use defaulted bank loans to create super high yields by modifying the mortgage and allowing the homeowner to stay in the house --- a real win/win!

Donna began her note buying career over 25 years ago in search of a vehicle that would offer her financial security without sacrificing cherished time with her four children. Working from her dining room table, as she began closing discounted note deals across the country, she realized that she had found a gold mine! Now, with well over a thousand deals under her belt, her peers consider her to be the foremost subject matter expert on note buying, while her students acclaim her as being a gifted, inspiring mentor.

Come spend the day with Donna at the Note-Buying Workshop on Saturday, May 20th at 9:00 AM – 5:00 PM. If you are serious about building wealth in today’s real estate market, you don’t want to miss this workshop!

*PLEASE NOTE: The 2 for 1 Early Registration Special is for Savannah REIA Members Only and is limited to spouses, adult children and corporate partners. Early registration expires on Wednesday, May 15th at midnight. Non-Members who Join Savannah REIA between April 25th - May 15th, 2017 can attend the workshop for NO CHARGE. Also, Savannah REIA Members who renew their membership for an additional year between April 25th - May 15th, 2017 can attend the workshop for NO CHARGE as well. When Joining Savannah REIA or renewing your membership, please indicate that you want to attend the workshop at no charge. You can Join Savannah REIA at http://savannahreia.com/membership/.

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Are you looking for the fastest, easiest, safest way to make money in today’s real estate market?  Then you need to learn about notes!  Notes are the number one way to quickly make huge cash profits in real estate, even if you don’t have your own cash or credit to get started.  In most cases, you never even own the property, which really makes for a fast, easy, safe way to profit in this marketplace.

Many people are buying defaulted bank loans at very steep discounts, either as a backdoor to acquiring the property or in order to restructure the note into a very high yielding, passive investment.  You can use the non-performing note (NPN) as leverage to get the property, either by negotiating “Cash for Keys” or by foreclosing on the property.  Even with the time and expense of foreclosing, since you are buying the defaulted notes at very steep discounts, there are still fantastic profits to be made.

If you are looking for a passive investment, then you may want to focus on restructuring NPNs to allow the homeowner to stay in the property.  Many people use this as a ministry to help distressed homeowners.   Even though the homeowner is paying only a nominal interest rate, you can make super high, double-digit returns because of originally buying the note at such a steep discount.  Read More >>

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I have always been surprised by the lack of time investors, wholesalers and even real estate agents put into properly advertising an investment deal. They all invest an endless amount of time and money on contracting a deal, only to drop the ball on the advertising side. Many times you can take the numbers, CMAs, spreadsheets, etc. that are used to advertise a property and in a few minutes pick the deal apart. Maybe it is a lack of time or knowledge but unfortunately I feel most of the time it is an attempt to mislead or just make a paycheck. Sometimes the info looks so well put together and impressive that it might even slip by an experienced buyer. Therefore you must know your numbers.

If you are a wholesaler, investor and/or real estate agent you really need to know your numbers. There is not a day I do not receive a wannabe deal that looks good at first glance. However, once I take a closer look, it is as bad as the ones I just deleted. Let us start with the most obvious mistake, the numbers. So the very first thing I do is add the recommended repairs plus the asking price and divide it by the estimated after repair value (ARV). I like for this number to be between 70%- 75% loan to value (LTV). Nowadays, this number is 80%+ which is usually not worth the headache unless the property value is higher. But even then, I try to stay away from that high of a LTV. Heck sometime the property is marketed at one LTV when it is a completely different LTV.  Read More >>

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I have talked about this subject many times before but because of a recent call from one of my students I felt it important to talk about this subject again.  A few days ago one of my students called and told me she was facing a dilemma and was worried about losing her property. She told me that she had no money to pay for the annual property insurance coming due and for two years of property taxes. She didn’t have the money to pay for either. This seems to be a common problem many beginning real estate investor’s experience. This is a subject I knew all too well because years earlier I experienced this very same problem.

I guess part of this problem stems from inexperience and lack of knowledge. Although this is a problem for many, it can be solved very easily with just a little effort and discipline. I felt it very important to write this article hoping to save many newer investors the distress and sleepless nights this problem can cause.  Read More >>

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Your Credibility Kit tells a story about who you are and what you can do for your seller or buyer in order to get a deal done. It will list the benefits to the sellers or buyers as to why they should work with you, a Real Estate Investor. The other main function of a Credibility Kit is to give you the confidence you need in order to create a win-win solution for you with your sellers. It should have all the tools you need in it to get you through the offer making process.

For example, in the back of my personal Credibility Kit, I have a list of different types of offers I can make on a property. This helps me when talking to the seller and keeps me from getting tongue-tied or forgetting a strategy that could just help out that particular seller. It also includes a cost analysis sheet which shows my sellers exactly how much it would cost them to sell their home in the traditional way and how much money I can save them at the closing table. My personal Credibility Kit gives my sellers all the facts they need to make a sound decision to sell their property to me.  Read More >>

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Some say the best real estate investors achieve the title and results through years of experience. I would have to agree, however in saying that I would also add that the experience these people have is only a part of their success equation in real estate.

The most important components I would suggest you have in investing are solid real estate comps from REIA Comps to work with, diligence and focus on a daily personal marketing plan. That marketing plan should be developed, directed, and in tune to the local property market.

Goal setting is the primary reason for business success.  It goes without saying that a lack of proper planning is the number one reason for failure. Proper goal setting involves setting a business plan in place for your business goals. To many people this sounds tedious. On the contrary, goal setters have more time, freedom, more money, and more success in all areas of their lives than those who don't.  Well, it's no different with real estate investing.  Read More >>

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Before you start entering data, make sure QuickBooks is set up appropriately for your company.

QuickBooks was designed to serve the needs of millions of small businesses. To do that, it had to include the tools and processes suitable for a wide variety of companies. But Intuit recognized that every organization is unique, so your copy of QuickBooks can be customized in ways that make it work best for you.

You could just dive in and start adding records and transactions. But we recommend you do some setup first. If you don’t, you may run into some issues later, such as finding that some features you need haven’t been turned on, for example, or that QuickBooks is simply not doing some things the way you do. The good news is that you can change many of these.  Read More >>

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“I did surveillance a lot, which sounds exciting, but it never was.” ~ Miranda Lambert

The Arlo Camera System is a favorite alternative to the Ring alarm system. It’s very easy to install since it takes literally 60 seconds to set up. It is a wireless system that can be synced up with your smartphone. If you have Alexa by Amazon, this can easily integrate into your existing Samsung family of appliances.

The pros of this system start with the ease of installation. The base plug looks similar to a router, so it is a familiar input, then turn it on. Place the batteries in the case and press the ‘sync’ button. That’s it.

The interface is very user-friendly too, I set up multiple cameras on a property and it was simple to rename cameras based on their location, like ‘garage’ or ‘back door’ and so on. From the app or the desktop website, you can relabel cameras, give preference like which camera is a priority first, adjust the motion sensor and record length once the sensor is tripped. The best thing, in my opinion, is that the camera will record once you open your notification, and it will record as long as you are watching the camera in real time. You can preset time lengths to record or do it manually from your mobile device. There are options for membership features, but the free subscription allows for 1GB of online storage and continuous weekly storage. Therefore, if in that seven-day span you have videos saved, the eighth day will delete the first video on the first day of that time span. This should be fine for most because it gives you the opportunity to select and save videos to a device or PC before the week resets.  Read More >>

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From as early as I can remember, the same obstacles have reappeared in my life, taunting me…never feeling satisfied, never feeling good enough, never getting ahead. Even the greatest opportunities one could ask for were sabotaged, and once again the chance to be happy slipped through my fingers. As words and teaching were given, I couldn’t see through the fog of my own delusions and as I yearned for change, I was trapped, imprisoned by shackles of my own creation.

This adversity brought me to the most important question I’ve come to ask.  

This won’t be the standard real estate investing topic, in fact it may not have much to do with real estate. The topic emphasis is focused on you and I, and the choices we make in life that create pain and pleasure for ourselves.  Read More >>

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Going 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 >>

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Looking for a great place to invest your Real Estate IRA dollars? Start right here in the Southeast. The 2017 Homeunion 2017 National Single Family Rental Research Report is out and Atlanta was named the #1 top city in its “Opportunity Ranking” metric for real estate investments in the single family home market. The number two city was Orlando, Florida.

Overall

The Opportunity Ranking indicates markets that provide a “strong balance of supply/demand fundamentals while offering favorable entry prices and limited threats,” said the study authors. The markets in this index were measured by a combination of cap rates and entry prices, as well as projected job growth in 2017.

Lots of construction activity counted against markets in this category because of the risk of overbuilding.

The remaining cities in the top ten for this metric were, in order, Seattle, Las Vegas, Chicago, San Diego, Oakland, Detroit, Dallas-Fort Worth and Memphis.  Read More >>

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I have been mentoring for many years and have found that my best deals come from actually “speaking” directly to a Seller and working out a win-win situation.  Since I first started investing back in 1998, I have not purchased a property directly from the Multiple Listing Service.  However, some Investors would prefer not to talk to Sellers and would like to be fed deals from other Investors or from the Multiple Listing Service.  We each have different personalities and based on your personality and your personal preferences, I may be talking to you.  If this is your mind set, then I would recommend the following:

1) Find at least 2 Realtors that will be willing to set you up to receive listings that are emailed directly to you for your review, along with Expired Listings.  You will want them to do a search for some of the following key words:  TLC, Handyman Special, Must Sell, Seller Motivated, Short Sale, and REO.  Read More >>

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I think the better question is why wouldn’t someone give you $100,000 in cash? Is it because you would run off with the money? Is it because you have little to no experience in handling that kind of money? Does that thought run through your mind on a regular basis?  Well it needs to stop! Focus on the goal and dump the negativity! If you are a crook stop reading this article.  The best question to ask is, who will fund my whole project, (the purchase price, the repair costs, the monthly payments, the utilities, the taxes, and insurance) and allow me to make a good profit?

Let me put the quantity of money into prospective. Let me also put into prospective the major two differences between a hard money lender and a private lender.

In the past I thought that $100,000 was a lot of money. Today this amount will buy a nice single family house in a blue collar neighborhood. The house will need to be fixed up and it might be in an area with a less than desirable school system. So, if your business plan is to fix up houses in the price range of $50,000 then sell at the $100,000 this will work. You will be very happy to have a person invest in your project. The project must make sense. The project must make money for the investor/ lender. The investor/ lender is sharing the risk with you.  The investor/ lender will want to know that they will be paid back on time and in full with no excuses or late night phone calls.  Read More >>

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The majority of us have been taught that financing means putting your name on that dreaded bottom line.  Be thankful that the time has come for you to learn a new way to play the game of financing.  Understand, however that the rules of financing have not changed; you were just not aware of all the rules.  I am about to share with you ways to buy real estate without having to jump through credit hoops and debt to income foolishness.  Since going to the bank is my least desirable method to finance real estate, I will discuss with you my four favorite ways:  owner financing, subject 2 financing, private lending and hard money.

Owner Financing:

Owner financing is my all-time favorite way to finance real estate due to the fact that you get to set the terms of the financing, if the property is owned free and clear.  You may be asking yourself, why would someone owner finance a property instead of just selling it and moving on for cash?  Well, I could give you all the reasons in the world; however, for the sake of time I will give you the top three reasons:  Read More >>

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