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Savannah REIA Blog

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Different Ways To Generate Substantial Income For Your Portfolio With Assets Other Than Real Estate – Part One

By Larry Harbolt on September 15, 2015
Larry Harbolt

Recently I was having a discussion with a friend of mine discussing some of the different ways to create wealth not only from real estate but other forms of investing that can give huge returns. We talked about the usual ways of making money buying real estate and we also talked about other ways of creating income without having to do any physical work for the money. Of course when you are a real estate investor your first thought is usually either about, buying foreclosure properties, wholesaling properties, fixing and selling houses at retail prices, and also buying long term income properties.

One subject I have never talked about before that I think is an important part of every real estate investors portfolio of investing opportunities is to also own paper assets for income. From this point forward we will refer to paper assets simply as "Paper". So what are paper assets? Paper assets come in many different forms. Some different paper assets come in the form of property tax certificates, land contract paper, contract for deed paper and promissory notes secured by a mortgage or a deed of trust paper. It is my belief that every real estate investor should be diversified and have several different income streams to help them build the wealth they desire. Read More >>


Are You Accountable?

By Russ Hiner on September 15, 2015
Russ Hiner

Have you been in real estate for 6 months, or have you really been in real estate for 1 month? Because if you’re really in real estate, you’ve made a deal by now, maybe several.

Here’s the truth: If you’re not making offers, if you’re not making deals, you’re not in real estate…yet.

Are you making the mistake of preparing and then doing nothing? Listen, if you’re prepared, then you have the education. You’ve paid a lot of money to take courses, you’ve read the books, and you’ve watched the videos. You understand that buying real estate is not rocket science. You understand that making an offer is not difficult. You have a power team: a contractor, an attorney, a survey company, and a real estate agent.

But you just don’t seem to be able to get one deal done.

What will it take for you to make a deal?

How can you overcome this fear and lethargy? Read More >>


Is It A Rental Or Flip?

By Mark Jackson on September 15, 2015
Mark Jackson

Over the years investors have always wanted to know which way they should go. Buy a house cheap, fix it up and rent it out. Over time collect the cash flow, keep some and use a portion to pay the house off. It’s the oldest and truest way to build wealth and a secure retirement.

Then there are those who are seriously focused on making some money now. They either want to “Wholesale” a house doing nothing to it all or the alternative option may be to acquire, renovate and sell for a really good profit and do it again. This method doesn’t build wealth but you can make some potential steady income.

Truly good real estate investors know the valuation of their deals is key to insuring success and protecting projected profits. To effectively determine if a deal is a rental building wealth or flip to make some much needed cash, you have to analyze a deal fully. All the market areas covered by REIAComps.com, insure you easily know which way an investor should go. Read More >>


Winning The Fight Against Time

By Tony Pearl on September 15, 2015
Tony Pearl

If you are blessed and fortunate enough to have lived on this planet for a while, there eventually comes a time when you start to notice the same thing that countless ancestors of ours have noticed over the eons... The undeniable fact that, sorry! You're getting old.

The first signs of this sad truth probably reveal themselves to you in a very subtle fashion... An extra ache when you wake up in the morning; Recuperating from injuries takes longer than it used to; Or it could be a grey hair or an extra wrinkle in your smile. As my (older) brother always likes to tell me, “getting old is not for the faint of heart.”

Such subtle signs are a painful reminder of our own mortality. They can either make you sad or remind you that you may only have a certain amount of time left on this spinning blue rock we call home.

If you like movies, you know you're getting old when the actors you grew up watching & admiring start showing their age... or die. (Even though Tom Cruise & Keanu Reeves are immortal. They never age!) Read More >>


Ready for Change?

By Michael Vazquez on September 15, 2015
Michael Vazquez

As a real estate investor you must always adjust to new market trends, rules and regulations. Recently, as any good investor should know, the industry has been having to make some changes due to the TILA-RESPA Integrated Disclosure rule. These changes have and will continue to affect any person closing a property involving an owner occupant loan.

Investors that renovate properties to sell will need to add at least an extra month or two of carrying costs. Why? Well, while not going into too much detail, all HUDs will need to be approved by the buyer and underwriter at least 3 days before closing. In reality, this will mean that the delay may be as many as 6 days because we all know how long underwriting can take. Some investors may not know this, because it is normally not enforced, but currently buyers are supposed to receive a HUD 2 days prior to closing. However, the norm for most closings is having a HUD prepared the day or evening before or the morning of the closing. I have even witnessed some buyers and sellers not receive a HUD until minutes before closing. This way of doing business will soon be gone and I for one like this part of the change. Originally the changes were to be enforced in August but the enforcement date was changed to October 3rd. Therefore, make sure your lenders and title companies are ready for these changes and do not delay your closing any more than needed. Read More >>


Learn How to Buy All the Properties You Want Without Using Your Own Money or Credit at Savannah REIA

By Savannah REIA on September 8, 2015
Mon, September 14th at 6:30 PM in Savannah, GA
Savannah REIA
Learn How to Buy All the Properties You Want Without Using Your Own Money or Credit!
with Special Guest, Joe McNamee
Monday, September 14th, 6:30PM
Hilton Garden Inn Savannah Midtown
5711 Abercorn Street, Savannah, GA

Savannah REIA Members Please RSVP on Meetup.com

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

Joe McNameeJoin us at the Savannah REIA Monthly Meeting on Monday, September 14th at 6:30PM at Hilton Garden Inn Savannah Midtown located at 5711 Abercorn St, Savannah, GA.

Join fellow Savannah Real Estate professionals and listen to our guest speaker, Joe McNamee, discuss how to buy all the properties you want with NO Money and NO Credit.

Joe McNamee, a local and successful real estate investor, is the author of “Timeless Real Estate Investing”. He is a retired Army Officer and founder of Absolute Investment Training Company where he teaches people how to buy real estate without the need for their money, credit, OR LENDER of any type (not even a private or hard money lender).

AND, Joe can show you how to have your property sold before you even buy it.

You wont want to miss the chance to hear this Real Estate Investing Expert. See you there!

Savannah REIA Membes Please RSVP on Meetup.com

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

Read More >>


FREE 2-Day Member Appreciation Wealthy Code Workshop

By Savannah REIA on August 25, 2015
Sat & Sun, Sept 19th & 20th @ 8:30AM - Atlanta, GA
Atlanta REIA & Savannah REIA Presents...
The Wealthy Code
A FREE*, 2-Day Member Appreciation
Workshop for
Real Estate Investors

Learn To Structure Deals For Passive Income Like the Top 1% of Investors...
Avoid Key Mistakes & Lower Your Risk!
September 19th & 20th from 8:30AM to 7:00PM
At the Crowne Plaza Ravinia, 4355 Ashford Dunwoody Rd, Atlanta, GA
Seats are Filling Fast! Almost Sold Out!

Join us on September 19th & 20th for a Special 2-Day Hands-On Member Appreciation Workshop Where You'll Learn:

Special Offer,
Register Today!

Regular Price: $797
Atlanta REIA & Savannah Members: FREE*
Non-Members:
Register before Sept 15th: $297
After Sept 14th: $497

Register Now Before All Seats Are Gone!

This is a special opportunity for 100 Atlanta REIA & Savannah Members Only. Seating is very limited and will fill up fast. Non-Members who join Atlanta REIA or Savannah REIA before all the seats are gone can attend for FREE as well.
Register Now to Reserve Your Seat!

Learn The Closely Guarded Strategies Of The Top 1% Of Passive Income Investors!

Yes, there is a secret way to wealth. At this event you'll discover what most will never know about creating passive income.

This is your opportunity to gain the strategies, skills, resources, and tools for building passive monthly cash flow into your business. Follow this formula to create a fortress around your family's financial future today... and for years to come!

Seating is VERY Limited!
Almost Sold Out!
Register Today!

George AntoneThis training is developed by George Antone, author of the best-selling books The Wealthy Code and The Banker's Code, is a financier, investor, and an entrepreneur. He is also the cofounder of the largest network of private money lenders in the world. He created MPactWealth to provide practical and proven wealth-building education for anyone anywhere.

Register Now!

*PLEASE NOTE: This event is FREE is limited to 100 members and will fill up quickly. However, there is a $25 reservation fee to hold your seat that is 100% refundable if you attend both days and stays to the very end. There will be absolutely no refunds for no shows or those who arrive late or leave early. No exceptions. Please show up on time. Date, Time & Location are subject to change.

What Others Are Saying About The Wealthy Code

Read More >>


Learn to Buy Pretty Houses

By Savannah REIA on August 22, 2015
Sat, September 26th at 9:00 AM - Atlanta, GA
Atlanta REIA & Savannah REIA Presents:
Making a Fortune Buying Houses with No Money and No Credit
The Ultimate “How To” Workshop on Buying Houses “Subject To”
A Full Day Workshop with Don DeRosa
Saturday, September 26th from 9:00 AM – 5:00 PM
At the Crowne Plaza Ravinia, 4355 Ashford Dunwoody Rd, Atlanta, GA
Bring Your iPad, Tablet or Smart Phone

Don DeRosaOn Saturday, September 26th from 9:00 AM to 5:00 PM (Registration starts at 8:30 AM) at the Crowne Plaza Ravinia located at 4355 Ashford Dunwoody Rd, Atlanta, GA, Don DeRosa will be conducting a special full day workshop with Atlanta REIA on “How To Do The New Subject To”. This class is all about how to buy and own real estate (especially Pretty Houses) and make lots of money with little or no money down.

Learn how to buy houses…

Beginner or experienced real estate investors can find immediate success using Don’s simple formula. There are six easy steps to follow when buying “Subject To.”

  1. Locating Sellers
  2. Prescreening Sellers
  3. Constructing Offers
  4. Presenting Offers
  5. Finding the Money
  6. Selling Houses

Once you learn to follow these steps you can do this over and over again for an average profit of over $20,000 per property.

There are many ways to make money in real estate and there will be something for everyone at the event. Don will be teaching you his trade secrets, including little-known buying techniques that have made him a very successful investor.

PLEASE NOTE: If you want to gain the cutting edge you need to succeed and bypass your competition, register now for the workshop and bring your iPad, tablet or smart phone and join us at the event!

Register Now!

This event will show you from start to finish how to buy “subject to” properties… from raising capital, to finding leads, to meeting with the seller and closing the deal.

This workshop is jam packed with very important topics that Don will cover such as:

See Atlanta REIA Events Calendar for More Events!
Read More >>


Peter Fortunato's One Step Beyond Seminar on September 12 & 13, 2015 in Atlanta

By Savannah REIA on August 22, 2015
Sat & Sun, September 12th & 13th @ 9:00 AM in Atlanta, GA
Peter Fortunato's
One Step Beyond
Sat & Sun, September 12th & 13th in Atlanta, GA
9AM - 5PM Both Days

Hilton Garden Inn Atlanta - Atlanta Airport Millennium Center, 2301 Sullivan Road, College Park, GA 30337

Peter FortunatoPete will present two days of lecture and discussion, with real-world case studies. This is the only presentation for One Step Beyond in 2015! Questions and Debate always encouraged! Get involved - this class is for you.

Pete describes - Using what you Want, to get what you Need, to get what you Want

Pete describes - Using what you Have, to get what you Need, to get what you Want

Some of the Documents included in this Seminar:

Location - Hilton Garden Inn Millennium - ATL Airport. Room Block - Fortunato - One Step Beyond. $89/night (includes parking). Please visit PeterFortunato.com for more info on this Seminar.

4 Easy Ways to Register: Download and complete the Registration Form and 1) Fax to: (678) 550-2155, 2) Call (770) 815-8728, 3) Email to Kim@CashflowREI.com or 4) Mail to: CashflowREI, PO Box 22, Adairsville, GA. 30103.

Class Registration fee: $350 per person for Atlanta REIA Members for 2 or more persons register together.
$450 per person for non-members.

Register Now for Pete's One Step Beyond Seminar

See Atlanta REIA Events Calendar for More Events!
Read More >>


Savannah REIA Meets on New Night & New Location This Month

By Savannah REIA on August 10, 2015
Tues, August 10th at 6:30 PM in Savannah, GA
Savannah REIA - August 10th, 2015
Solar Energy - A New Cashflow Strategy for Real Estate Investors
with Chris McKendree
Steps to Register Your Real Estate Investing as a Business
with Judee Jones & Aislee Jackson of the
City of Savannah Revenue Department
At Quality Inn Midtown, 7100 Abercorn St, Savannah, GA

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

Aislee JacksonJoin us at the Savannah REIA Monthly Meeting on Tuesday, August 10th at 6:30PM at Quality Inn Midtown located at 7100 Abercorn St, Savannah, GA.

Our main speaker this month will be Chris McKendree of Paradigm Solar, LLC who will be discussing Solar Energy as a New Cashflow Strategy for Real Estate Investors.

Also, Judee Jones & Aislee Jackson of City of Savannah Revenue Department will be discussing how and why to register your real estate investing as a business with the City of Savannah.

This will be a meeting that you will not want to miss. We look forward to seeing you at the meeting!  Read More >>


Wholesaling FAQ For The Educated But Scared

By Vena Jones-Cox on August 1, 2015
Vena Jones-Cox

If you’re like most people, you’ve been wondering all along when we were going to discuss all the awful things you’re imagining might happen to you as a wholesaler. And I have no desire to sugar-coat things for you, but the truth is most of the things you’re imagining are extremely rare, and easily overcome. Here are some of the most frequently asked questions about such fears:

What happens if I can’t find a buyer for a property I have under contract?

If you can’t find a buyer, one of three things has happened:

As you’re probably already aware, any of these 3 failures is unlikely to harm YOU, if you exercised the recommended inspection clause. You’ll simply void the contract under that clause, or renegotiate for a lower price or more time, or in a worst case scenario, let the seller keep any earnest money as per the liquidated damages clause.

In the first case, you might try renegotiating the contract price or option price—you’ll know what to re-offer after you’ve shown the property to 4-5 people. In the other two cases, if you’re certain that you’ve created a good deal, you might consider paying the seller an additional, non-refundable option fee or deposit to extend the period of the contingency and closing. A third possibility is to buy the property yourself, although that is outside the scope of this course. Remember, as long as you have a liquidated damages clause, you’ll lose only your earnest money; if the property is controlled via an option to buy, you’ll only lose your option fee for not closing. But don’t make it a habit.

In any case, it’s important, as an ethical wholesaler, that you let the seller know as soon as possible that something has gone awry, and that you won’t be closing as promised. Read More >>


Flyp My Phone

By Don DeRosa on August 1, 2015
Don DeRosa

“The secret to multitasking is that it isn't actually multitasking. It's just extreme focus and organization.” ~ Joss Whedon

Have you ever watched a really good store manager while she works? It’s incredible! She can handle two or three customers at once, answer the phone three times while she’s at it, and approve a couple check transactions at the same time. And when you compliment her on her talent, she just shrugs and says, “I’m a multitasker.”

A few years ago, businesses were all about multitasking. Employers wanted people who could multitask. With life moving faster all the time, all of us have learned to do it to some extent. But experts now believe that multitasking isn’t really all that productive or efficient. For a lot of us, multitasking just means we do a bunch of things at once, but we don’t do any of them very well. I don’t know about you, but I’ll never be able to do what that store manager does.

So it turns out that it’s better to focus on one thing at a time. But this doesn’t fit too well with modern life. Between home, work, school, church, and hockey, it’s a wonder we ever get anything done at all.

Luckily, I don’t have to multitask anymore, because my cellphone does it for me. I can hardly remember anymore what life was like before I had an iPhone. I used to say that having a cellphone was a good idea, but not an absolute necessity. Well, it’s sure a necessity now. Read More >>


Running Your Rental Business On Auto-Pilot

By Kathy Kennebrook on August 1, 2015
Kathy Kennebrook

The rental business can be very lucrative for the real estate investor. It can also be a pain in the neck. The trick to an effective rental business is the management. We have many rentals as a part of our real estate investment business and we have always said that managing tenants is like raising another set of children unless you do it correctly.

The first thing you should do is to decide if you are going to manage your properties yourself or if you are going to have someone else do it for you. There are ways to automate these systems either way and I will discuss both. You just need to choose the system that works the best for your own needs.

You can use a property management company and run your rental business pretty much hands-off. Just remember that there are costs involved in doing it this way and you don’t have as much control. If you do choose to work with a property management company check references before doing so. In the beginning, keep a closer tab on what’s going on with your properties. Some property management companies are definitely better than others and some will take better care of your properties than others.

When using a property management company who is going to place tenants in your properties, make sure they are using a reputable tenant check company and make sure you look at the applications and tenant check reports of prospective tenants before they are placed in your property until you are sure that you and the management company are “on the same page” regarding the tenant requirements you want for your properties. Make sure your property management company understands your personal parameters when placing tenants in your properties. Read More >>


Marketing in a High Demand Market

By Frank Iglesias on August 1, 2015
Frank Iglesias

You may have heard the news that the real estate market is improving throughout the USA. While in some areas, the market improvement is steady, some markets are just hot! An interesting observation we have noticed is that private sellers in particular hear the news on Fox, CNN, CBS, etc. and immediately think their property is worth what it was in 2007 at the peak. The idea of gradual appreciation seems to escape a significant number of them as it seems at every corner everyone is saying sell! Even banks are selling REO’s at or near full retail value…before rehab!

In the midst of this, you may be hearing the phrase ‘limited inventory’ or ‘fierce competition’. And depending on your market, there is probably some truth to this. More agents are coming back on the scene. Real Estate gurus are selling Wholesale courses like M&M’s at the grocery store about how easy it is to be rich tomorrow. They all have some kind of ‘secret’ message to get deals flowing in to everyone. However, if you sell it to everyone, how is it a secret at that point?

So what is a wholesaler to do? Read More >>


Receiving Payments in QuickBooks

By Karen Bershad on August 1, 2015
Karen Bershad

It's probably one of your favorite QuickBooks activities. Be sure you understand the mechanics of recording payments.

There are numerous ways to prioritize your workday. Do the most difficult things first. Get important phone calls out of the way. Respond to various emails.

But it's likely that one activity takes precedence when you see that it needs to be done: recording payments. While you're probably very careful with this process, it's critical that your actions here are accurate. If they're not, you could either lose money that you've earned or anger tenants by requesting payments they’ve already made.

QuickBooks comes with some helpful pre-defined payment types; however, you also have the flexibility to edit that list and add new types. To see your list, open the Lists menu and select Customer & Vendor Profile Lists, then Payment Method List. This window opens: Read More >>


Setting the RIGHT Goals

By Bill Ham on August 1, 2015
Bill Ham

Improper goal setting can really hurt your business. Proper goal setting can make you rich. This is a concept that I see most new investors and real estate business owners learn the hard way. If you don’t know how to set proper goals for yourself then you are very unlikely to obtain any goal. In this article I will help you to learn the art of goal setting.

Whenever I begin mentoring a new student or business client I always start by having them submit their goals. I am actually more interested to see how this person sets goals more than the goals themselves. Most people will set goals based on what they want with little knowledge of what it takes to accomplish those goals. Understanding the requirements of the goals we set will greatly help us achieve them.

I follow a similar process for goal setting that the U.S. military follows. It’s called “Backward Planning Process”. Basically I decide where I want to be. What is my end goal? Once I know exactly where I am trying to go, I work backwards from that point. For example if I want to buy an apartment complex I start working backward with questions like this... Read More >>


Mailing for Dollars

By Kimberlee Frank on August 1, 2015
Kimberlee Frank

My students always ask me “How many letters do we have to mail in order to get a deal?” Before I answer, I want to state that the #1 reason a Seller sells their house for less is because they are motivated. An unmotivated Seller will not take less for their house, as they are not in a hurry to sell. Let me clarify the situations that make a Seller motivated:

  1. Property is upside down – they owe more than it is worth.
  2. Property taxes have increased and they can’t afford to pay them.
  3. Mortgage interest rate(s) adjusted to a higher payment that they cannot afford.
  4. Job Relocation and they can’t sell the house fast enough.
  5. Divorce or Separation will send individuals into foreclosure because they depended on two incomes.
  6. Job loss or reduction in their income.
  7. Bankruptcy – For most people who are upside down on their bills, it also includes their house payment. It is important to know whether or not your Seller is in bankruptcy or planning on it. No transfer of a property can be done while the Seller is in bankruptcy.
  8. Retirement causes a reduction in income.
  9. Insurance rates have been increased and they can’t afford the insurance.
  10. Illness, Permanent Disability or the Death of Spouse/Family Member causes individuals to get behind on their payments.
  11. Exhausted Landlords – Most of the time, the Landlords had great credit but the Tenants won’t pay and the Landlord may have used up all of their financial reserves.
  12. Economic and Functional Obsolescence The Seller may own a residential property, but it’s located in a commercial district. The floor plan of the house is old and chopped up.
  13. Business or Partnerships failing
  14. Vacant House

Read More >>


Why Real Estate and Why Not a Restaurant

By Ron LeGrand on August 1, 2015
Ron LeGrand

I’ve been in a few businesses in my life, still have a few and probably will until I check into the nursing home, and maybe even after.

When comparing buying and selling houses to other businesses, the contrast is so big, sometimes I wonder what the world would be like if all small business owners were exposed to my training before they opened their businesses.

Let’s take a look and compare to my restaurant.

You can start real estate immediately with no money, no credit and no risk and expect to make a profit within the first month or two.

The restaurant required several months looking for a location I had to build out. Then, I signed a long lease with a $7,500 deposit (albeit non-recourse). Then it took 10 months and several hundred thousand dollars to get it opened and a massive amount of my time. As to the profit…it’s been a serious negative and will take many more months to break even. Then we’ll discuss a profit, maybe.

Your real estate business has no employees, only a virtual assistant or two. That means no payroll alligator to suck you dry and no employees to manage or account for and no regulations strangling the life out of your business. Read More >>


What To Do When Sales Start To Slow

By Mark Jackson on August 1, 2015
Mark Jackson

All good real estate investors know the valuation of their deals is key to insuring success and projected profits. Since late 2013 transactions in numerous market areas have seen strong sales activity. But what to do when transactions start to slow? All the market areas covered by REIComps, insure when sales changes happen you are not caught off guard.

Last week, we began seeing a number of Support Tickets asking the question, “My retail sale properties aren’t getting multiple offers any more. What am I doing wrong? Equally, we have seen tickets which ask, “Several of our current units for sale in the same area where they have sold in less than two weeks aren’t getting showings”.

Truly, essentially these are the same question, but we had to dig deeper from a valuation perspective. Remember, when we “buy right” typically we can drive the market selling slightly lower. Or in some cases due to sound acquisition, an investor is able to improve a dwelling insuring that buyers can’t wait to make an offer. Read More >>


How Many Leads Do You Need?

By Russ Hiner on August 1, 2015
Russ Hiner

How many times does your phone need to ring to make a deal? Well, the more rings you have, the more possibilities there are, right? But here is the catch: you don’t want just any calls. You want quality calls. It doesn’t matter how many calls you get if they aren’t ones that are going to lead to getting paid.

You may have heard real estate gurus telling you how to get that phone to ring. But I can show you how to get the phone to ring so that when you answer, you’ll have a potential good deal on the other end.

First, quality calls will decrease your overhead. I typically spend $1000 per closing on marketing. In the past, I bought the latest in high tech products which were supposed to send me 10 leads per day. The problem was that, while the leads were plentiful, the number that actually worked was less than I wanted.

You see, I want to make the time that I spend worth it. I want sellers who call me so ready to sell that I can barely finish saying, “Hi, this is Russ. How may I help you?” And I want them to say, ” I heard you were the best in the Atlanta area, you pay a fair price, you are respectful, and you do what you say you are going to do. I don’t care what you offer me, I will take it because I know you will be fair. I know you can close in 30 days. I trust you.”

How can YOU get these kinds of calls? I’m about to tell you. Read More >>


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