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Through the 1990s and early 2000s millions upon millions of loans were created. This created some interesting issues for the banks. In some cases, they were looking for ways to cut down on the steps in the process in order to reduce the time it took to process a loan in order to keep up with the flood of business. In some other cases, they were looking for ways to take advantage of the system to bilk homeowners, their investors, and the government out of as much money possible. Unfortunately, the solutions the banks came up with for both of these issues resulted in a system of rampant mortgage fraud that the courts are only now finally catching onto. So how can you determine if your loan or the loan on a prospective deal is fraudulent?
In order to prove that they have the right to foreclose on a property, it is becoming standard for lenders to be required to produce the original note on the property. The note is required before a court will allow a lender to sell a property. It must show that the true lender is named with a recorded economic interest in the property. The note as submitted by the lender in a foreclosure hearing may clearly be fraudulent because it was notarized after the fact with a stamp that was not even valid at the time the mortgage was taken out. Read More >>
In the last two posts, we talked about building credibility with Buyers. We have covered four steps so far. Last month, we talked about the importance of having a real deal and doing your own due diligence as key points. This month, we will talk about how to continue creating credibility and maintaining it for the lifetime of a deal.
Step 5: Maintain Open Communication
In a world where social media dominates and text messaging is overused for serious matters in my opinion, almost if not every Buyer I have met over the years prefers phone communication or in person when it’s time for real things to happen.
For most deals, we are talking about tens if not hundreds of thousands of dollars. Millions for the even bigger players. It is quite reasonable to assume that at some point, people want to talk to another human when doing a deal together. This is step 1 of what I call ‘real communication’. Talking to a real person on the phone achieves magic that an email or text rarely can accomplish. Read More >>
You might have heard of a Real Estate IRA. You might have even looked into it as an option in the past as you considered the retirement options that make the most sense for you and your family. But if you’re not familiar with this kind of retirement account, you might be surprised at just what kinds of investment results you can have when using it properly.
Don’t believe us? Let’s take a closer look at the Self-Directed Real Estate IRA—and how it can uniquely benefit your retirement plans:
Benefit #1: Getting More Leverage with a Real Estate IRA
One of the most fascinating concepts in real estate investing is that of leverage. By using leverage, you can make purchases you otherwise wouldn’t be able to make with the cash in your bank account. In Real Estate IRAs, you’ll be expected to use non-recourse loans, but you’ll still be able to use this concept of leverage to your advantage. In other words, you can buy real estate that you otherwise would not be able to with plain, ordinary cash. Read More >>
The number one thing that makes an Investor successful is finding, buying and selling properties from a Motivated Seller. As I have stated in previous articles, the only thing that makes Investors money is a Motivated Seller. So … how do you find motivated Sellers when it’s a Seller’s market? There are several ways to become successful and as an Investor the key to your success is having a marketing machine running all the time. A Seller’s market means that when a property is listed on the Multiple Listing Service, the Sellers receive multiple offers from Investors, homeowners and landlords. Obviously a homeowner is willing to pay list price or more for the house since they are going to live in the property and there is a personal attachment. Landlords will pay up to 75% to 80% of the market value and Investors pay 60% to 65% of market value. Yes, the repairs come into consideration for the Landlord and the Investor, however, the homeowner is more accepting of repairs needed to the home, as they are planning on making changes anyway. Therefore, submitting offers on the Multiple Listing Service is very time consuming for an Investor and the rate of acceptance is much lower than for a homeowner. Read More >>
If you are going to meet a seller you will inevitably hear objections to the first price you offer. You can be as little as $1,000.00 off the seller’s asking price and the seller will still look to get you to the asking price. It is in our human nature to try to look out for our best interest so do not get upset. All you simply have to do is prepare for the most common objections and get the seller to agree with you.
Here are the objections I run into the most and how I have been able to successfully overcome them.
You’ll be visiting QuickBooks Online’s Settings screen regularly, so it’s good to know what’s there.
You can get into a rental car and just start driving to your destination. But you soon realize that you need to know where the temperature controls and the radio tuner are. If it starts raining, you must know where the wiper controls are. And when it gets dark, you’d better know how to turn on the headlights.
The same goes for QuickBooks Online. You can create bills and start paying them or begin to invoice customers or record expenses as soon as you set up an account (though you’ll be adding a lot of data on the fly). But you’ll soon discover that those tasks would be easier if you had established all of your Settings first.
If you have multiple employees using QuickBooks Online, for example, it has probably occurred to you that not everyone needs to have access to everything in your company file. You’ll want to connect the site to your financial accounts, build a budget, and specify payment terms and types. Read More >>
This article was not easy to write. In fact, it was one of the more challenging articles I’ve written in a while. Why? Because it deals with something that’s not easy for us to talk about: The reason why most people don’t take the action they know they should so that they can have the success they say they want to have.
The only place where success comes before work is in the dictionary. It’s an old-school, classic, tried-and-true principle: If you want to have success, you’ve got to work hard to make it happen. And hard work means taking action.
Why do you think most people don’t take the action that needs to be taken? I believe it comes down to two things: 1. Lack of Knowledge, or 2. Abundance of Fear. Read More >>
Did you ever wonder why some people are really wealthy and some people barely live paycheck to paycheck? Did you ever think “Why can’t I be wealthy like them?” What do the wealthy people know that I don’t? “How did they get rich? These are all valid questions, but I would say, the reason why you are or aren’t a wealthy person is entirely between your ears. So what exactly do I mean by that?
It’s simply this. Wealth is based on a state of mind, not on how much education you have, how many hours you work, or who you know. A wealthy mindset is created by believing in who you are, who you want to be and where you want to go. It is said that our thought processes control the person we are and the person we become, and this is so true. I know a lot of people, many of whom are real estate entrepreneurs, who have become extremely wealthy and yet came from backgrounds of poverty and little or no education. Read More >>
When we think of the Fourth of July we think about fireworks, grilling, and being with friends and family in celebration. I am a very big pyrotechnics fan, I always have a supply of fireworks for any occasion. If there is any excuse to launch a mortar or rockets, then I am very excited. Yes, I have gotten my share of injuries. I still have my eyes and fingers. The injuries healed. This is just like getting involved in real estate. You must know the risk and rewards when you buy and sell real property.
When I am picking out the right explosives to use in a celebration I have certain criteria. The mortars have to have color and reports. I also have rules in real estate. I have certain types of houses which I will buy and others I will pass on. I will pass on certain areas. I need to know what is the profit/reward ratio. The process I use has four simple rules. The first rule is to know what you are buying. Are you buying a house, commercial property, apartments, or storage units? How big? Get it inspected so you know what you are getting yourself into. Read More >>
After 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 >>
This is an article I wrote a few years ago. Again I am hearing the rumblings of some of my students who believe they can buy 100 houses or more every year and it scares me to death. I believe what this article says is so important for every investor to know. That is why I decided to have this article republished.
Recently I was talking to several of my students who each said they wanted to buy 100 houses this year. These students had listened to one of the guru’s who had bought and sold over one hundred houses in one year and are now teaching people how to duplicate what they had done. I listened closely to these bright eyed inexperienced students tell me they wanted to do the same as the guru and it frightened me to death. Later over dinner, I mentioned what I had just heard to my wife. She encouraged me to tell my tale of woe about the years of agony we experienced because I got too big for my britches and against my wife’s better judgment I had tried to do the same thing myself. Read More >>
Atlanta, Georgia is one of the strongest real estate markets in the US and has favored Sellers rather than Buyers since spring of 2013. According to Realtor.com, the median list price in Atlanta has gone from just over $200,000 in 2014 to over $300,000 in 2016 and is currently leveling off. A $100,000 median price gain in two years is nothing short of fantastic. See Figure 1.
For the purposes of this article, we are talking about single family detached in these areas. See Figure 2. Read More >>
Are you looking for financial independence?
Are you ready to start a business that will generate huge chunks of cash?
If you answered YES to any of these questions, you need to join us on Saturday, August 6th at 9AM at the Doubletree Hotel Roswell located at 1075 Holcomb Bridge Rd, Roswell, GA for a full day workshop with Robyn Thompson where she will teach you how to turn ugly, vacant, run-down houses into large paydays!
Robyn has taught thousands of students how to achieve financial independence by investing in distressed properties. Robyn has made retailing homes a science and she knows every technique imaginable to locate profitable deals, renovate distressed properties at lightning speed, minimize holding costs, and qualify good credit buyers and expedite closings so you can collect a big check.
At the workshop Robyn will teach you about:
This is a must attend event to learn about Rehabbing Houses for MASSIVE PROFITS from one of the best. Robyn is highly regarded as the “Rehab Queen” in the real estate investing industry. She has a wide range of knowledge and experience that she loves to share with others.
As a bonus, Robyn will...
We look forward to seeing you at this amazing event! Register Now!Read More >>
Join us on Monday, August 8th at 6:30PM at the Savannah REIA Main Meeting at the Hilton Garden Inn Savannah Midtown located at 5711 Abercorn Street, Savannah, GA where our special guest speaker will be Bill Cook who will be discussing one of the best kept secrets in the real estate investing industry… Options!
When it comes to Options, most real estate investors have only heard of lease-options. Fact is, there are many types of Options. Investors are always finding new and better ways to use them because they’re a completely different kind of tool than anything else in real estate.
Options are a right, not an obligation to purchase. What on earth does this mean? When you sign a loan, it’s an obligation. When you sign a contract, it’s an obligation. But with Options, you’re paying for the right to make up your mind to purchase on some future date. With an Option, you have a risk-free or low risk choice as to whether you’ll perform or not in the future.
At the August Savannah REIA meeting, you will learn:
Why attend this month’s meeting? Most investors have no clue how to use an Option to control a property. Don’t believe me? Ask around. Options will allow you to step above your competition because you’ll be able to make more of the impossible deals possible!
TAKE ACTION and RSVP for this Meeting Now! Come join us to learn how to add Options to your bag of real estate investing tricks! Read More >>
The Beginning Investors Group Online (The "Big O" or BIGO) is an new online educational group that currently meets on the 4th Wednesday at 7PM ET 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.
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.
This month, on July 27th at 7PM, Larry Harbolt will be our special guest speaker on how to maximize profits on each and every deal you do. Larry is the nation's leading expert on creative seller financing. He is also an author, mentor, teacher, and full time real estate investor.
Have you ever wondered how successful investors are continually finding and doing profitable deal after deal? Did you ever ask yourself what seasoned investors look for and what they think about before they ever make an offer on any property? Have you ever thought about what makes a good deal and what is missing from the deals that you don't want?
Join us on the webinar and Larry will teach you 6 secrets of how successful investors think through every deal they do and how they structure offers in multiple ways to buy any property. He will also show you why "CASH" isn't always the best solution for every seller and why they may not want All CASH for their property.
Join us on July 27th at 7PM online at GoToWebinar and learn:
New Investors, DO NOT MISS THIS EVENT!
TO ATTEND ONLINE: 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.
No Charge to Attend for Members or Guests
Who Attend Online via GoToWebinar.com!
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.Read More >>
Here is what I found: the seat-of-your-pants business model will result in painful growth. It will cost a LOT of YOUR money. Believe me, I know. So I want you to learn from my mistakes so YOU can be successful.
If you could learn one thing from me, it would be to get a formal education from a solid coach or mentor who has been where you are and knows how to help you get your profitable real estate business off the ground.
I'm an expert, and a coach who can show you the Infinite Wholesale Technique. I can show you how to be confident, how to turn a profit, how to make good decisions, and I can show YOU how to make $5,000+ in the next 30 days.
This "edutainment" training will show you how to overcome your fears by leading you away from the mistakes I've made. Once you sign up and attend tihs event, you will learn the ins and outs of success in the wholesaling business.
You will learn to:
You'll also get my Wholesaling 101 Manual and paperwork.
Isn't it time YOU took YOUR place in the sun? Here is a low priced opportunity for you to get a seat in this Wholesaling 101 Event taught by me, investor, coach and real estate leader, Russ Hiner.
Wholesaling 101 takes place on Saturday, August 27th from 9AM to 5PM at 1960 Skylar Hill Dr, Buford, GA or Online via GoToWebinar. Come join up in person or online! I would love to help you take your Wholesaling Business to the next level!
Come out and join us as we welcome Curtis Bellenot. He will be discussing how to select and utilize contractors in the world of Real Estate. He will be speaking on Monday, July 18th at 6:30PM at Barnes Restaurant located at 5320 Waters Ave, Savannah, GA. We look forward to seeing you at the meeting!Read More >>
The July 2016 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.Read More >>
Long ago, Kim and I learned that options are an incredibly powerful deal-structuring tool that allows you to control lots of real estate for little or no money…and with very little risk! And here’s the best part: Because so few know anything about options, you have almost no competition!
Simply put, if you are not using options as one of your primary real estate investing tools, then you’re leaving a lot of money and opportunity on the table.
When most folks hear the word “option,” they automatically think lease-options. While lease-options are fairly popular, they are just the tip of the option iceberg.
Options allow you to control a property without the risks associated with ownership. You can control one (or all) of the benefits that come with ownership: income, profit, amortization, growth, use, management and tax benefits.
One of the best things about options is that you can control hundreds of thousands of dollars worth of real estate for less than $100 – and control it for decades. No other document in real estate is this powerful! Read More >>
Are You Afraid To Buy A Property Because You Can’t Qualify For A Loan Or You Have Less Than Good Credit?
Today I had an interesting conversation with one of my Advanced Life-Line students who confessed that he continues to have great anxiety and fears making an offer to buy a property even if it would be a good deal for him. He always hesitates pulling the trigger and submitting his offers because of his fears. He is really missing out on creating an income stream he really needs as well as being able to create wealth over time.
Being a new Life-Line student he has fears of buying any property where he will have to get some type of financing to pay for the properties he is making offers on. After talking to him about doing the numbers before making an offer to buy any property he felt much better but he still had fears of having to deal with the responsibilities associated with ownership he had never had to deal with. Seeing I wasn’t getting very far explaining how to buy real estate with the least amount of risk I finally decided to talk to him about a powerful way to profit from real estate without having to deal with the responsibilities of ownership, that I still use today. Read More >>