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If you plan to have multiple employees using QuickBooks, you can limit their access to specific areas.
Controlling access to your QuickBooks company file is easy when you’re a one-person accounting department. You simply use one password to protect your data.
But when you add new employees to the mix, do you want them to have access to absolutely everything in QuickBooks? Probably not. You have confidence in your employees or you wouldn’t have hired them. But this isn’t solely a matter of trust. It’s just good business practice to restrict individuals to specific areas and responsibilities, no matter what the application.
That’s why QuickBooks has built-in tools to help you limit activity. Here’s how it works. Read More >>
“What do YOU do for a living?”
Those words can strike fear and paralysis in the hearts & minds of the tragically unprepared. If you’re newly in business for yourself, or have just never really gotten your head properly wrapped around HOW you should respond to this powerful question, you’re sunk. Handle it the right way, and you’ll be rewarded with confidence, respect, and a fatter bank account.
And that’s exactly what we’re going to cover in this article. So shut off your Facebook & keep reading…
It never fails. You’re out at a social event, taking a flight somewhere, or maybe you just strike up a casual conversation with someone somewhere sometime. If you’re both adults over the age of 25 or so, the question eventually comes up, “What do you do?” Read More >>
When I am purchasing a property either for myself or with my student/partner, we determine which exit strategy is the best for both parties. Knowing whether you want to wholesale a property for a small profit or rehab/retail it for a big profit is important. Many investors start off with wholesaling the properties because they either don’t have a money lender or partner to help them rehab/retail the house and sell it for a bigger profit. If this is you, then I believe you really should find a partner or money lender so you have more than one exit strategy.
When you purchase a short sale, some of the lenders will put a hold time for the new buyer requiring them to hold the property for 30, 60 or 90 days before they can resell the property for a profit. In addition, they may tell you that you can only make a certain amount of money on the property if you sell it earlier than 90 days. Holding doesn’t bother my student/partners or myself because we normally choose to rehab the property and retail it for a higher profit. Read More >>
“I am thankful to all the souls, I meet in the journey of life.” ~ Lailah Gifty Akita
Touchnote App is a familiar app to many. It’s commonly used to create eCards for birthdays and holidays, as well as printing applications like greeting cards and framed photos. I have found a way to use this for my own needs that are unique to my business.
Using this app has freed up some of my time. How to gently and politely notify a homeowner that I have an interest in their home without knocking on the door and intruding on their routine. I’ve utilized the Touchnote App to reach out to these potential clients. I usually drive looking for vacant homes in particular. I just take a photo of the house and look up the homeowner’s address in the public tax records. I write a simple message explaining that I’m interested in buying the property. It’s so fast and takes the time and thought out of trying to reach out to these homeowners by phone or physically printing and paying postage on a postcard. The cost is $1.99, which is very reasonable. You can also reduce this price even more by buying in bulk, making the cost $1.50. Read More >>
In this article, I want to discuss a simple way to develop peace within, while in the midst of the chaos that many of us live.
We spend our lives thinking that there is some end goal, some place where we can be that will finally bring total happiness. Then to get there we set crazy goals that consume most if not all our time.
You know the saying, “live like no one else today, so you can live like no one else tomorrow” a popular Dave Ramsey quote that is interesting to ponder. There is nothing wrong with dreams, setting goals, and hard work but the illusion that there is some destination, or some sanctuary that will save you is what I’m addressing here. Read More >>
Implementing the right list and using the right letter when creating your direct mail campaigns to locate motivated sellers is crucial to your success as a Real Estate Investor. There are lots of different ways to find these lists and lots of different types of lists to choose from.
The easiest way I suggest to locate a list to use for mailings is to simply go to your property appraiser’s office or auditor’s office and have them create it for you. There are many different parameters you can use to create these lists.
Some of the lists you could create might be directed at out of town owners, deed transfers, zip codes ranges, sale dates, estates, evictions, delinquent taxes or pre-foreclosures. These can all be good lead sources for you to use to find motivated sellers and these are lists that I use in my business on a daily basis in addition to several others. Read More >>
Making money investing in real estate begins with determining the actual value of the property. This is the most important out of the many factors in real estate. The price of the property is determined with real estate comparables or comps. Being that this is the maximum amount a seller could expect to receive for a given property, it becomes the starting point for negotiations. This is where you, as a real estate investor, make your profit when you buy the property. Mess up here and it could become difficult to make money on the deal or at the very least the ideal profit you had hoped for.
When researching a property, you begin by comparing your target property with those in the surrounding area. Be sure you know the details of your property. The square footage, beds/baths, year built and location of your property are important criteria for determining how closely these other properties match or compare to your subject property. Read More >>
Wholesaling is probably one of the easiest, yet most deceiving aspects of Real Estate out there. There is no shortage of people sharing how to be a wholesaler from online courses to packages to free videos. When looking at all the information available on the subject, how does one know which information is correct (including this article)?
As someone who has run a wholesale group in our market now for over four years, I am going to share with you the qualities required to be in my opinion a successful wholesaler. Our team has the privilege of being well connected and knowing most of them in our market. Having wholesaled tons of properties and observed others doing the same, here are the qualities you will want to have to be a successful wholesaler. Read More >>
Over the years I have heard every excuse you can think of why real estate investors today aren’t busy buying houses. One thing I know for sure is that the biggest reasons why most real estate investors are struggling to buy real estate are:
Let’s talk about “Fear” first. Fear is probably the biggest reason many inexperienced real estate investors don’t have more success doing deals and why many walk away and give up and look for other ways to make money. I know for myself, when I started learning to buy real estate, I had no money and poor credit, plus I had no training. This caused me to be afraid to make any kind of offer to buy real estate. Read More >>
Had 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 >>
Come join us at our next Savannah REIA Monthly Meeting on Monday, July 10th 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!
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 >>
Register Today for the Two-Day Cash In A Flash Foreclosure Summit on Saturday & Sunday, August 26th & 27th in Atlanta being taught by Bill and Dwan Twyford – the Nation’s leading foreclosure experts. In fact, Bill and Dwan are considered the Nation’s #1 experts in Short Sales, Foreclosures, Flipping, and Negotiating!
They have personally bought and sold over 2,000 properties, bought millions of dollars in commercial property, coached 1,000’s of students through successful real estate deals, and have been making millionaires all over North America for almost twenty years.
If you don't know them, that's okay - You will get to know them very soon. They come from a place of ethics, hold themselves to the highest standards, and they make millionaires! They are the real deal!
They have written FOUR BEST SELLERS! Most recently, Bill co-wrote a book with Dan Kennedy and Dwan co-wrote a book with Steve Forbes. Why did these two mega-stars choose Bill and Dwan to co-write a book with – BECAUSE THEY ARE THE BEST IN THEIR FIELD!
At the Cash In A Flash Foreclosure Summit they will show you how to run an ethical, fair, and PROFITABLE real estate investing business that WILL make you a multimillionaire, too!
Here is a small sample of some of the topics that will be taught at this two-day Summit:
As you can see this will be a knowledge packed 2 full days of excitement and education. We look forward to seeing you at this great event on Saturday and Sunday, August 26th & 27th!
*PLEASE NOTE: Tuition price will increase and will be per person after Early Registration Expires. Register now and save. Non-Members who join Savannah REIA between July 10th – July 31st, 2017 can attend the workshop for NO CHARGE. Also, Savannah REIA Members who renew their membership for an additional year between July 10th – July 31st, 2017 can attend the workshop for NO CHARGE as well. When joining Savannah REIA or renewing your membership, you must let us know that you want to attend the workshop at no charge. You can join Savannah REIA at membership.savannahreia.com.
Come join us at our next Savannah REIA Monthly Meeting on Monday, June 12th at 6:30PM with our special guest speaker Nate Scott at the Homewood Suites Savannah located at 5820 White Bluff Rd, Savannah, GA.
Over 77 million baby boomers will be retiring over the next 10 years and they face the fear of out living their retirement. 66 out of 100 people age 65 earn less than $30,000 in retirement. Would you agree it's critical that people learn new strategies to survive and thrive in a very differnent economy? This is the cash flow danger red alert that no one is talking about. Until now.
Join us on Monday June 12th at 6:30PM, and Nate will show you a blueprint for creating lasting wealth by investing in real estate and share how his biblically based leadership plan will clearly identify the retirement cash flow danger and will give you practical steps that you can take to address it.
Nate will show and ask you:
After serving in the Army, Nate earned an MBA from George Washington University and an Executive Certificate in Financial Planning from Georgetown University. From 2004-2006, he worked as a licensed financial advisor before accepting his last corporate job as the Chief Financial Officer for a mortgage and real estate technology company. In 2007, they were listed as an INC 500 fastest growing. As an entrepreneur and network marketing professional, Nate is the co-author of the book “Pillars of Success” along with Jim Rohn, Alexander Haig, and Pat Summitt. The book is a compilation of ideas from numerous experts who share the “how” and “why” of their success. In this book, Nate shares the story of how he made his first million by age 32..
You don’t want to miss this event! RSVP Now!
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.
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The June 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.
If you’d like to invest in real estate, but you can’t afford to buy property – don’t despair! Think about renting from owners who are saddled with ‘inconvenient property’ and negotiating the right to sub-lease their property to others. This is Master Leasing - the leasing of a property from an owner and then sub-leasing that same property to a tenant. I believe Master Leasing is the most economical way to get started in the real estate business today. It is a way to produce an immediate income stream without large amounts of capital.
Master leasing is an incredible tool, which can benefit both owners and investors.
It will lose an owner less than he is losing with a vacant property and it will insulate him or her from dealing with sub-tenant occupants. Master tenants are not agents of the owners, but rather entrepreneurs who are professional landlords. This gives a master tenant the flexibility to tailor a lease to the specific needs of each owner. They do not offer a ‘one size fits all’ solution, as do most property management companies. Since they are not agents working for the owner, the owners cannot be held vicariously liable for any of the actions master tenants take with their sub-tenants. This alone can reduce the owner’s liability dramatically. Read More >>
I also like to use my personal Credibility Kit to find more private lenders for my Real Estate Investing Business. You already have all the information about yourself and your company and deals you have done in one place to show your potential lenders.
Looking through your Credibility Kit leaves no doubt in a lender’s mind that they will be making a good investment in you and your properties. Plus, you have references available if they would like to see them and follow up with any of them. I also give my potential lenders an abridged copy of my Credibility Kit in case they know of someone else interested in loaning me money for my deals. This is a great way to build this part of your real estate investing business! Read More >>
From 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 >>
Many Investors avoid working with Sellers in pre-foreclosure or making offers on short sales. They all say the same thing, it takes too long! I strongly disagree with this decision. I have been working on short sales for years now and even though it does take a few months, it has been the best deal spread in profit that I have ever received on any type of deal. Let me tell you why you should consider working with Sellers in pre-foreclosure and making offers on short sales.
The Pre-foreclosure market will continue to flourish due to the adjustable rate mortgages, loan modifications and reverse mortgages that banks have provided to many Sellers. A lot of the Sellers in foreclosure will have second mortgages that can be discounted to pennies on the dollar. Sellers that are doing a HAFA short sale program requires the second lender to take a maximum of $8,500.00 on their second mortgage. Read More >>
It is about time that you are making your very first “get the money” presentation. I am not going to tell you much about my first presentation for money, since it was so long ago. I think I was 3 years old and wanted some candy. I am sure it did not turn out very well. I think I did the presentation in front of the wrong audience and I was not very professional. My ‘ask” presentations have gotten much better especially since I know how to effectively raise capital today and every day.
How can you get prepared to make your first professional “ask” presentation? The first thing you must do is place yourself in front of the right audience. If you are doing the presentation in front of a group of people without any resources, you might as well be talking to the wall. If you are talking to people who have shown interest and know something about what you are working to achieve then your chances soar! So, think of doing a presentation in which the potential investors in your project have a mix of people who know you and people who don’t have a clue as to your reputation, experience level, motives, or character. The great news is the people who know you will probably advocate for you. Read More >>
If you invest in residential rental property in your real estate IRA for any significant length of time, sooner or later you will probably need to consider evicting a tenant.
There are several possible reasons you may need to evict someone: The most common, by far, is the non-payment of rent. Other common reasons include drug or other criminal activity or material violation of lease terms. Sometimes you can resolve these issues painlessly, by giving the tenant a little extra time, or by sending a notice to cure or quit the premises. But when these measures don’t work, a real estate IRA owner will have to ‘landlord up’ and begin eviction proceedings to get the tenant out.
Before you begin evicting a tenant from your real estate IRA-owned property, read this first. Read More >>