Savannah Real Estate Investors Alliance (Savannah REIA) http://savannahreia.com Savannah REIA's Official Website Feed Tue, 27 Jun 2017 11:15:00 -0400 Tue, 27 Jun 2017 11:15:00 -0400 en-US hourly 1 REIAManager.com Copyright Atlanta REIA, LLC 60 http://d39mmy5xwffh55.cloudfront.net/images/3/savannahreia-180.jpg Savannah Real Estate Investors Alliance (Savannah REIA) http://savannahreia.com 120 120 Savannah Real Estate Investors Alliance (Savannah REIA) A Beginner’s Guide to Notebuying at BIG Online on June 28, 2017 http://savannahreia.com/beginning-investors-group-online/a-beginners-guide-to-notebuying-at-big-online-on-june-28-2017/ Wed, 31 May 2017 11:45:00 -0400 Post 927 at atlantareia.co Wed, June 28th @ 7PM on GoToWebinar
A Beginner's Guide to Notebuying
The Fastest, Easiest & Safest Way To Make Huge Profits In Real Estate!
with Donna Bauer on June 28th
@ 7PM on GoToWebinar

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

Donna BauerPlease 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!
Register Now!

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.

Register Now!
About the Beginning Investors Group Online (BIG O)

Beginning Investors Group Online (The BIG O)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.

See Savannah REIA Events Calendar for More Events!

Source: http://savannahreia.com/beginning-investors-group-online/a-beginners-guide-to-notebuying-at-big-online-on-june-28-2017/

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The Profit Newsletter May 2017 Edition http://savannahreia.com/blog/the-profit-newsletter-may-2017-edition/ Wed, 3 May 2017 11:35:00 -0400 Post 910 at atlantareia.co Download The Profit Newsletter for May 2017 (PDF)

The Profit Newsletter - May 2017The 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.

See Savannah REIA Events Calendar for More Events!

Source: http://savannahreia.com/blog/the-profit-newsletter-may-2017-edition/

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Savannah REIA Meets on June 12, 2017 with Nate Scott http://savannahreia.com/main-meeting/savannah-reia-meets-on-june-12-2017-with-nate-scott/ Sat, 10 Jun 2017 12:10:00 -0400 Post 958 at atlantareia.co Mon, June 12th at 6:30 PM in Savannah
Savannah REIA - June 12th
The Plan You Need For Lasting Wealth By Investing Profits Into Real Estate withOUT a Lot of Money, Time or Skill To Start.
with Nate Scott

Nate ScottCome 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:

  • What is the cash flow danger?
  • What's your plan?
  • What's your system?
  • How to correct your financial statements
  • And much more!

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!

Savannah REIA Members Please RSVP on Meetup.com
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.

Subscribe to Our Email List & Mobile VIP List

Subscribe to our Savannah REIA Email & Newsletter List and we will deliver The Profit Newsletter ($19.95 value) and other updates and announcements to your inbox every month for FREE!

Join Our Mobile VIP List by texting the word SAVANNAH to 912-480-9222 and get periodic text updates from us about meetings, workshops and more.

Join Our Mobile VIP Home Buyers List by texting the word ADDME to 912-480-9222 and get periodic text updates from us regarding HOT, Off Market Houses for sale.

Follow Us on Facebook.com & Meetup.com

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Also, be sure to Like Savannah REIA on Facebook where we will also be posting any upcoming meetings, events and other useful information. You can also interact with our Facebook page and post your have’s and wants as well.

Savannah REIA on Meetup.comJoin Savannah REIA on Meetup.
If you are interested in being a part of the Savannah Real Estate Investors Alliance, investing in real estate or just want more information on our new REIA, be sure to Join Savannah REIA’s Meetup Group so you can stay informed on any upcoming meetings and events.

See Savannah REIA Events Calendar for More Events!

Source: http://savannahreia.com/main-meeting/savannah-reia-meets-on-june-12-2017-with-nate-scott/

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Get Started in Real Estate Investing Without $$$ http://savannahreia.com/the-profit/june-2017/get-started-in-real-estate-investing-without-cash/ Sun, 4 Jun 2017 08:00:00 -0400 Post 940 at atlantareia.co 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. 

Master tenants can build great income streams by leasing and sub-leasing properties. They get to ‘test drive’ properties that they might later have the opportunity to purchase. Some properties have physical, locational or neighbor issues that won’t be discovered until after a tenant is first acquired. Leasing and sub-leasing the property initially could save you a lot of grief and money that you could better use elsewhere.

Master leasing can provide many of the benefits of ownership without many of the risks. A long-term lease, which is secured to the property, will control the sale and/or refinancing of that property. It also buys you time to build trust with the owner and perhaps negotiate a purchase with owner financing when that owner eventually decides to sell.

As a master tenant, you will not usually be liable to replace large property components, like roofs or furnaces. Every dime that you pay to the owner can either be expensed as rent or amortized over the term of the lease. Rental income derived from master leasing is passive income, as defined by the IRS, and not subject to self-employment tax.

Most people don’t realize that many of the bundle of ownership rights to a property can be transferred through a lease. Nelson Rockefeller once said, “The secret to success is to own nothing, but control everything.” Master leasing allows you to do exactly that and allows you to maintain your day job while you are getting started in the real estate business and building income.

Source: http://savannahreia.com/the-profit/june-2017/get-started-in-real-estate-investing-without-cash/

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Building Your Personal Credibility Kit - Part 3 http://savannahreia.com/the-profit/june-2017/building-your-personal-credibility-kit-part-3/ Sun, 4 Jun 2017 08:10:00 -0400 Post 929 at atlantareia.co 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! 

Your personal Credibility Kit is going to be one of the most important tools you'll ever add to your real estate investing business. Nothing speaks more loudly or more clearly about you or your integrity than letters from sellers you’ve already done deals with, personal reference letters, letters from lenders, letters from buyers, before and after photos of properties you have rehabbed, copies of closing statements and copies of ads you have run. The professionalism that a Credibility Kit presents to your sellers, buyers and potential private lenders is a real asset to your real estate investing business. Another great reason to use a Credibility Kit is that it gives your seller something to look at while you are looking at their property to determine the amount of repairs needed.

My personal Credibility Kit has given me the edge when buying property on many occasions simply because none of my competition had this amazing tool and the sellers choose to work with me because I look a lot more professional and my Credibility Kit prepared me to answer any questions they had. Get the competitive edge on your fellow real estate investors and start buying more deals by building your Credibility Kit today! You’ll never regret taking time to build this amazing tool for your business.

Check out my web site at www.marketingmagiclady.com for more information on Credibility Kits. Even if you are just starting out in the real estate investing business, I have taken the time to explain to you exactly how to build your kit and I even provide a template with everything you need to build yours AND your Presentation Book. You have no idea of the power a Credibility Kit can give you until you put one together and start using it in your Real Estate Investing business.

For more information on locating even more sellers, buyers and lenders for your real estate properties and all kinds of marketing materials, visit my website.

Source: http://savannahreia.com/the-profit/june-2017/building-your-personal-credibility-kit-part-3/

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Buying at the Foreclosure Auction http://savannahreia.com/the-profit/june-2017/buying-at-the-foreclosure-auction/ Sun, 4 Jun 2017 08:20:00 -0400 Post 928 at atlantareia.co 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

Second, using a county map, we mark the location of each property that’s advertised for foreclosure.

Third, we drive to each of the pre-foreclosure properties.  Once there, I knock on the homeowner’s door.  This isn’t easy.  It’s not like knocking on a seller’s door.  A seller is eager to talk to any potential buyer.  With someone facing foreclosure, the house is being taken from him.  This is a horse of a different color!

My approach is simple and straightforward. I ask if I can answer any questions about what happens next.  The thing is, few know what happens to a homeowner after the foreclosure auction. Learning allows the homeowners we talk with to relax and make appropriate plans.

There’re two big advantages to knocking on the homeowner’s door before the auction.  We’re able to better understand the seller’s situation and perhaps buy the property pre-foreclosure, and often we’re able to see the condition of the home’s interior and better estimate rehab and holding cost.

Fourth, with the properties we like, we do our due diligence.  By this I mean we make sure which mortgage we’re bidding on, whether the property has a clear title and whether the property has tax liens. 

Fifth, we determine our top offer price.  This is the most we can afford to pay and still make our minimum acceptable profit after all holding cost and expenses have been paid.

Sixth, on the morning of the auction, we run by the bank and pick up our purchase money in the form of certified funds.  Remember: When you buy at the foreclosure auction, you must have all of the purchase money with you – there’s no 10% down or proof of funds letter.  It’s a cash-on-the-barrelhead transaction!

Seventh, when the bidding starts on one of our target properties, we bid up to our number and not a dime more.  Never let yourself get caught up in a bidding war to prove your manhood.  You’ll lose!

Eighth, if we’re high bidder, we’ll meet with the crier, hand over our money and tell the crier how we wish to take title.  Our first call is to our insurance agent to get the property insured.

If we lose the bid, which is often the case, we say a few choice words and get ready for the next auction.

These are the basics of buying at the foreclosure auction.  Before jumping into foreclosures, make sure you first get some solid, detailed, real-world instruction.  A simple mistake can cost you tens of thousands of dollars!

Source: http://savannahreia.com/the-profit/june-2017/buying-at-the-foreclosure-auction/

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Less Competition with Short Sales http://savannahreia.com/the-profit/june-2017/less-competition-with-short-sales/ Sun, 4 Jun 2017 08:30:00 -0400 Post 930 at atlantareia.co 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. 

The government bailed out the mortgage companies some time ago and also required them to assist Sellers who were in foreclosure.  So, you would think that the lenders would contact Sellers who are attempting a loan modification and agree to reduce their principal to help them out so that their payment would be less.  That is not the case.  What they have been doing is forgiving the second mortgage on the property and getting paid full value or more on their loans.  How does this help the Sellers?  Well if the Sellers are the lucky individuals who were paying on time they were NOT the individuals picked to have their second mortgage paid off.  The banks chose the Sellers who were in foreclosure.  This way the second lender received full value or more for the loan versus nothing if the house went to foreclosure or pennies on the dollar if it was a short sale.  Knowing this information as an investor will help you cash in big on your short sales.

Recently a partner and I started working with a Seller who needed the house probated and was in foreclosure.  We paid for the attorneys to probate and for foreclosure defense during this time based on future rents.  While my office was negotiating the short sale, we ordered title work and found out even though the second mortgage company was included in the foreclosure action, that their lien was paid off – discharged.  After a couple of months of probating the property and transferring the ownership to our Seller as the rightful heir, instead of a short sale needed on this property, it was a full payoff.  This has happened to me several times now wherein the second mortgage is discharged and there is enough equity in the home and profit for the investor to just payoff the loan.

During the time the house was probated, the Seller agreed to allow the property to be rented and use that money to pay towards the attorney fees of approximately $4,300.00 and repairs.  The house wasn’t in bad shape but needed approximately $3,300.00 worth of work and materials to make it “rent ready”.  Because we did not fix the house up completely, we asked for $300.00 less on rent making this property a very desirable rental to tenants.  The lease that was signed was a month to month and they were informed that the house was in foreclosure, needed to be probated and once that was completed, they would have to move out as the house would be fixed up and sold.  The tenants agreed to the terms and conditions and moved into the house and paid $900.00 a month for a total of $5,400.00 while this process was going on.

The property went through probate and the Seller was now the rightful heir and could sell the house once we settled the short sale.  The first mortgage company was still pushing the foreclosure and a trial date was set for June.  Like I said above, we found out that the second mortgage was paid off and that it would be a full payoff to the first.  Because the trial was coming up, we decided to purchase the property as soon as possible to avoid additional attorney fees on the first mortgage.  Now that we have it, we have two options.  Sell it “as is” to a landlord with or without a tenant, remove the tenant, or rehab it and sell to an end buyer.  Purchase price $130,000 with $30,000 in repairs with a value of $210,000.  Either way, we shall profit a minimum of $30,000.00.  The time frame on this property was 6 months due to the probate.  A total of 40 hours invested of my time which equals $750.00 an hour.  Are you thinking differently now???

Based on this article, I hope I have persuaded you to start going after pre-foreclosures with less competition and better profit on your deals. 

Happy House Hunting!!!

Kimberlee Frank

Source: http://savannahreia.com/the-profit/june-2017/less-competition-with-short-sales/

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Getting Prepared To Make Your First "Ask For The Money" Presentation http://savannahreia.com/the-profit/june-2017/getting-prepared-to-make-your-first-ask-for-the-money-presentation/ Sun, 4 Jun 2017 08:40:00 -0400 Post 931 at atlantareia.co 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. 

Second, you must be able to anticipate and answer the objections that the “money” client will ask as part of your presentation. It is better to answer some of the questions while doing the presentation rather than the “money” client bringing it up later.

Third, while preparing for the presentation put yourself in the client’s shoes. How much experience do they have in the investment you are pitching? Do they have the amount of money you need? Have they been burned in the past by another investor? Are they angry or dissatisfied with their current investment strategy? What is their emotional state about investing (Hands on, Auto pilot, Fear driven)?

With any investment, whether promoted in person, by mail, telephone, or on the Internet, a wise money lending investor should always slow down, ask questions, and get written information. Only one of my investments that I am currently managing is registered with the SEC. Hedge Equity, LLC fund loans money and supplies at an excellent rate of return to investors who participate in the fund. Typically, you will not have a registered fund and the investments will be “one time only.”  So, explain to them “these investments are not FDIC insured, they are not registered with the SEC and they can lose all of their money.”  Explain to the potential investor you are not registered with the state securities agency.

Other considerations to include in your presentation: You will need to explain to the investor that you are incorporated. If you are not then you will need to get this done! Explain to them how you are able to reduce their risk of loss.

Explain to them what the risks are associated with this investment. What are the costs to hold the investment? How easy is your project to liquidate in an emergency? State again that they could lose everything!  Explain who will be managing the project and what should be the expectation of the return (don’t quote figures unless they are known to be high net worth investors on the first date)!  In the presentation, you should explain how they get paid back, how long will it take, and paint a picture of the result.  You need to find out what is important to them. The whole meeting is all about them. If they don’t get what they want then you are not going to get what you need.

Letting the money lender know what your experience is and what type of reserves you have is very important. Letting them know what your “skin in the game” is also helpful. Let them know you are paying people back their money with interest.

You have just read some of the learning lessons I have had over the past 30 years of raising capital from people who don’t know me. You can do this. So, you don’t have any experience, then this is a perfect time for you to partner with someone who has the background and proof to be sustainable, like me.  If you have a few gaps in being able to answer the above questions then let’s work together on a project. If you are a potential investor who has the funds and want to deploy them in a safe and secure way, then we should have a meeting and ask me all of the questions I mentioned above. You will walk away knowing that your investment will be paid back first before I make any profit.

Think about what you can do with $1,000,000 in cash to invest in your future. That is the basis of a great presentation.

Russ Hiner

Source: http://savannahreia.com/the-profit/june-2017/getting-prepared-to-make-your-first-ask-for-the-money-presentation/

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Three Eviction Mistakes Real Estate IRA Owners Make http://savannahreia.com/the-profit/june-2017/three-eviction-mistakes-real-estate-ira-owners-make/ Sun, 4 Jun 2017 08:50:00 -0400 Post 932 at atlantareia.co 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. 

  1. Failure to segregate personal funds from the Real Estate IRA. Evictions are cheaper than a non-paying tenant. But they aren’t free. There are court costs and related costs involved that can run anywhere from a few hundred to a thousand dollars or more. It’s very easy to write a personal check, or get cash out of the ATM machine at the courthouse from your personal checking account to pay the court costs.

    This is fine for other landlords. But if the property is held by a real estate IRA, this is a big mistake. Eviction costs are a cost of doing business in real estate investing, and you must pay these costs with funds from within the IRA. If you pay your court costs with personal funds, and the IRS finds out, you could potentially endanger your entire IRA. Always pay these costs from your IRA account, not your personal accounts.

  2. Failure to provide notice. Every state has its own requirements for providing notice to a tenant that he or she is at risk of being evicted. Where we live, in North Carolina, a landlord must provide a written notice to a tenant who is late with the rent that you intend to evict if they don’t pay, and then wait not less than ten days. For lease violations, North Carolina landlords can file right away with no notice required, if the lease allows for it.

  3. Self-help evictions. No matter how bad the tenant is, you cannot evict a tenant without a court order. This usually takes a few weeks. Meanwhile, you cannot do anything to disrupt the tenants’ quiet enjoyment of the property. This means you can’t just change the locks or turn off the power. You must wait until the tenant moves out, or until you receive a writ of restitution from the court, which will occur after the hearing is scheduled, the tenant loses the hearing or fails to show, appeals are exhausted or denied, and you’ve given notice to the tenant that he or she has been evicted and must vacate the property. The court or sheriff’s department will make an appointment to have a law enforcement officer come to the property and clear the way for you to remove the tenants’ belongings and change the locks. Until then, stay out of the property except to make emergency repairs and fixes.

If you try to do anything to ‘encourage’ the tenant to move out sooner, the tenant will then possibly sue you for damages – and very possibly win.

For more information about real estate IRA investing, or to get started, call us today at 954-7500-IRA(472), or visit our website at www.americanira.com.

Source: http://savannahreia.com/the-profit/june-2017/three-eviction-mistakes-real-estate-ira-owners-make/

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The Carrot? Or the Stick? Which Do THEY Prefer? - Part 2 http://savannahreia.com/the-profit/june-2017/the-carrot-or-the-stick-which-do-they-prefer-part-2/ Sun, 4 Jun 2017 09:00:00 -0400 Post 933 at atlantareia.co In Part One of this article, we discussed YOU and why you do the things you do. Specifically, we talked about WHY people do or don’t do things for two primary reasons: To gain pleasure or to avoid pain. This is also known as the Carrot or the Stick - the carrot is something good that we want, while the stick represents the pain we don’t want.

We also mentioned a few common things that most people in this world want/desire, like love, money, and good health as well as a few things that most people don’t want/are afraid of, like fear of missing out, getting hurt, rejection, or clowns. ;)

Finally, we talked about some stuff that you might not like - why you may not be as successful as you’d like to be, or why you don’t always do some of the things you know you should be doing.

In other words, we started with YOU. Still stuck on that? Ok, go back and read the article again. But if you’re ready to move on, let’s go... 

It all comes down to TWO things: The Carrot and the Stick.

The CARROT represents something GOOD that we WANT, while the STICK represents something BAD that we DON’T want.

In THIS article, we’re going to talk about how to get what you want from others by understanding their key motivations, and how to best position yourself so that you have an incredibly powerful advantage over others. Maybe that might help you? :)        

It goes without saying that once you truly know yourself, you can begin to understand everyone around you. Now that you’re armed with those convenient lists above, let’s see how we can help (or help influence) those sellers to sell their houses to US for OUR Terms, shall we?

Ok, let’s break this down & figure this out, Carrot & Stick style!

First, the CARROT: What do most sellers want? To sell their house, duh! But HOW? What’s important to them? What do they truly WANT, and what do they want to AVOID? Even though this is a case-by-case basis, I think we’d agree that most sellers have several things in common. They desire to have a fair, easy sale of their house so that they can accomplish their goals and move on with their lives. They want to feel like they sold their house for a fair price and that they are getting some VALUE for selling.

Now for the STICK: What they don’t want is to have their time wasted, deal with someone they don’t like, know, or trust, and I think it’s safe to say that they don’t want to feel like you’re taking advantage of them.  Agreed?

So now that you know all that, HOW will you treat them? WHAT will you say, and how will you say it? Be sure to refer to my earlier articles about these topics.

Something else that’s important to consider: Your MARKET. Is it hot? Are there a lot of buyers? Are people offering full price, all cash? If that’s the case, the only way you’re going to have a snowball’s chance in hell with informed sellers in these markets is to develop an emotional bond with them & offer them something no one else can. 

Maybe they really want to make more money from selling their house, so you can demonstrate how selling to you with owner financing can do that. Show them how much it truly costs to sell their house the traditional way (average 10% cost of sale), and how you can save them that money instead. Or maybe they really want a fast solution that makes sense because they have some sort of immediate need. So frame your offer around that.

A good stick to use for many sellers is the time-sensitive offer. As we’ve already agreed, most humans have a FEAR of MISSING OUT. So even though it may seem counter-intuitive, I highly suggest you put a DEADLINE on the offers you make, such as “This offer expires Friday at 6 p.m.” Something like that works quite nicely.

Naturally, some sellers will call you back after that deadline, and while you might still want to do business, at least you’ll have a reason to re-negotiate a deal.

The final (and most powerful) figurative stick you can use with sellers is the one that few investors truly grasp, despite the fact that it’s the most obvious one at your disposal: The Seller’s own self-stated reason for selling. Why are they selling their house? Specifically - what is the potential painful outcome that may happen if they DON’T sell their house?

Now, if the seller with whom you’re talking doesn’t seem to have any real need, then you may not be dealing with the right type of seller. For example, if they say the reason they’re selling is to ‘test out the market,’ or ‘because it just seems like the right time,’ and you can’t get anything else out of them, you’re probably going to be wasting your time by continuing to attempt to negotiate a deal. They don’t have much motivation and you can’t provide much value in this transaction. These are suspects, not prospects.

But if they say that they have a job transfer that’s taking them clear across the country, they have to be out in 3 weeks, and they don’t have any offers on their beautiful house, now you’re in the game!

In this example, you’d want to agitate their pain. Give them a taste of what the stick might feel like if they don’t sell their house. In this case, you could ask them something like, “What would you do if you’re not able to sell your house? Would you probably just rent it out? Gosh, have you ever been a landlord? Have you ever dealt with tenants? Can you imagine what that would be like if you’re 2,000 miles away??”

Can you see the magic here? By giving them an idea of what the negative outcome might be if they’re not able to reach their goal, they’re now emotionally open to the possibility of YOUR alternative solution that would make sure that doesn’t happen!

Oh, by the way, this also works in just about any sales, social, parenting, or business situation. Use these tactics wisely, grasshopper.

Congratulations! You now know more secret psychological strategies that can help get you more business, close more deals, and get what you want out of life whenever you’re dealing with other people. Combined with the self-mastery we discussed in part one of this article, and you’re well on your way to being as rich and successful as you want to be.

The only thing left to do is set yourself up to succeed. How? Ha, you should know by now: Give yourself an incentive to do well (work for a carrot), while at the same time have personal consequences for not taking the appropriate actions (the stick). Don’t punish yourself for failure, because we don’t always have control over the outcome. We can only control our ACTIONS, attitudes, and beliefs.

For example, if you make a simple goal of calling 10 sellers today, and you accomplish that goal, you’ll reward yourself by eating...something special (almost had you there!). That’s your ‘carrot.’ But if you DON’T do what you set out to do, you don’t get that reward - and/or you have to do something embarrassing. In front of people. That’s your ‘stick.’

I think you get the idea. What you do with it now is up to you. And I think I’ll close this up like I did the last article by saying, “Now go grab a carrot!”

Until Next Time,

Tony Pearl

Source: http://savannahreia.com/the-profit/june-2017/the-carrot-or-the-stick-which-do-they-prefer-part-2/

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The Question No One Asked - Part 2 http://savannahreia.com/the-profit/june-2017/the-question-no-one-asked-part-2/ Sun, 4 Jun 2017 09:10:00 -0400 Post 934 at atlantareia.co I know last month’s article was a little depressing but it was important and here’s why: We take daily actions in pursuit of a better life, to move away from pain and towards happiness, while the underlying emotions of fear and greed drive us. It is within these actions that we should investigate and become aware of their effects. The “better life” has a price and that price is unknown. The “better life” is culturally conditioned.  

I remember one time when I was a kid I was grounded for the day, and I sat at my window staring out with my nose pressed as close to the screen as possible to feel any fresh air and sunlight I could. Seeing and hearing the other kids playing brought feelings of anger, fear, jealousy, and envy. I wanted to be outside so bad. But I sat and endured.

The idea behind that story was that there was plenty to do in my room to keep me busy while grounded. But I wanted to be outside, I wanted to be with other people.  Deeper within was the fear of missing out on life and the fear of being alone. 

I didn’t want to be alone because that’s when the questions come up.

What if I’m not good enough, what if I’m unlovable, what if no one likes me, what if everyone is perfectly happy without me?

Tying this into last months article you can see we all have similar underlying fears. And it is our fears that drive our every action. I felt inadequate and unlovable so I chose a career as a musician where I could get unlimited approval and attention from people, all the while I was taking actions to push those who were closest to me away. My belief was I could be validated and approved of by performing well, but to perform well I had to sacrifice time away from family and friends. I found the perfect torture device for a person who feels unworthy of happiness and love with a fear of being alone. I was utterly and desperately alone and couldn’t stop running.

It’s like the end of Forrest Gump when he is in Vietnam, he just keeps running until he gets to the point when he’s all alone, then he runs back into the woods to find those he left behind, and only a few are there.

I was running and I thought I was going somewhere but literally I was just sprinting in place and destroying my life slowly. The brain tumor was the greatest thing that has ever happened to me. Painful yes, but a philosophy bestowed upon me that many don’t get until later in life when it’s too late. My mission is to share it. My questions for you are:

 What are you afraid of? What are you running from? What in the deepest part of you do you fear?

I once spent 10 days alone in a silent meditation retreat learning from the greatest teacher I’ve ever known. On about the 10th day I let go of fear and all of my past and future seemed to disappear. There was nothing else but moment to moment and I became more at peace then ever in my life. Once I saw that I was okay with nothing more than food, shelter, water, and toilet everything else in life was a beautiful compliment to my already perfect content life.

It is so hard to stop and see what a precious miracle life is. But you must identify and confront your fears. Once you confront your deep-rooted emotions driving you…everything will change. A light turns on in your world that will illuminate peace and love endlessly.

Then you can move forward, then you can build your dreams, then like Jim Rohn says, “be happy with what you have in pursuit of what you want”. You must accept yourself and your life exactly as it is then enjoy the journey moment-to-moment, step-by-step, and breath-by-breath. 

Source: http://savannahreia.com/the-profit/june-2017/the-question-no-one-asked-part-2/

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Are You Looking For a Good Laugh? http://savannahreia.com/the-profit/june-2017/are-you-looking-for-a-good-laugh/ Sun, 4 Jun 2017 09:20:00 -0400 Post 935 at atlantareia.co Watch the Fix and Flip Wholesale Shows on Television Just Don’t Believe Their Numbers, Time Frames to Complete the Rehabs and Their Repair Costs

Recently while surfing channels on my television I came across two real estate fix and flip shows that caught my attention. I watched each of these shows and as I watched it took all of my strength to not turn the channel in disgust. I couldn’t believe the incompetence of the people doing the shows. One of the shows was filmed in Orlando Florida and the other was filmed in Las Vegas.

I love a good comedy show as much as the next person but these shows were just too ridiculous to watch without feeling compelled to warn every unsuspecting and untrained investor not to believe what they see on these shows. Shows that never show any real facts and details about the properties they fix and flip. If you watch these types of shows be sure to take their numbers with a grain of salt and don’t try to replicate what is being shown before you make an offer to purchase any property. 

The gurus who are doing these shows are always showing how easy it is to make big money being a wholesaler. I will say they could be somewhat correct but only if the investor has knowledge how to find the best deals, not just any house that needs repairs done to it. Does the investor know how to properly figure the repair costs? Does the investor accurately determine the numbers of each property that are based on the area the property is located in, the square footage of the property, the number of bedrooms and bathrooms, the amenities each property has such as a pool, a fireplace, a one or two car garage, a concrete or paved driveway and an updated electrical system adequate for a house that size with the amenities it has? Does the house have good curb appeal? Does the investor have sufficient credit and financing available to them already in place? These are a few of the key items every investor needs to look at before ever making an offer to buy any property.

When you watch the television wholesalers, be sure to take notice how all of them always estimate the repairs for each property incorrectly and the repairs always cost more than they figured. Notice how they talk in seminar numbers of each deal. Here is what I mean. At the end of the show they show they bought the property for $140,000, the repair costs will be $40,000, but because of unforeseen termite damage it took another $11,000 to cover the cost of this damage. They sell the property for $220,000 and show they made a profit of $29,000. This Is Not True. I did not hear one of the Guru Wholesalers talk about paying taxes on the profit they made. I didn’t hear them talk about making payments on the money they borrowed for the time they owned the property. I didn’t hear them talk about paying closing costs when they bought and sold the property. I didn’t hear them talk about the holding cost they paid during the time they owned the property, things like water, electric, garbage, lawn care, pool care or any other cost they had to pay during the time they owned the property.

I know I sound like a broken record and I don’t care if I do. I want all investors who read this article to not believe what they see or hear the Guru wholesalers say on television, it’s just entertainment.  You have to do a much better job of finding and analyzing each property you are looking at before making your offer to purchase any property. You must know the numbers of every deal you do and make sure your numbers are correct as closely as possible, not like the Guru Wholesalers talk about and how much they say they make on every deal.

Do your homework on every property you are thinking about buying before making your offer to purchase. Never use Guru Wholesaler numbers like they use on their television shows. Like I said it’s just entertainment.

Until next month be sure to go to my website for your real estate investing information needs and be sure to listen to my podcasts “The Real Deal Podcast with Larry Harbolt” found on my website and iTunes. Be sure to check out my new digital course I am offering for only a short time I call the “Cash Flow Blueprint” for only $19.97. That’s right I’ve lost my mind, I’m selling this huge brain dump of information for far less than a few cups of Starbucks coffee. Click on this link http://www.cashflowguys.com/fasttrack and it will take you to this important information every real estate investor needs to know.

Good Luck and Happy Investing!

Larry

Source: http://savannahreia.com/the-profit/june-2017/are-you-looking-for-a-good-laugh/

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Foreclosures on the Move? http://savannahreia.com/the-profit/june-2017/foreclosures-on-the-move/ Sun, 4 Jun 2017 09:30:00 -0400 Post 936 at atlantareia.co There has never been a foreclosed house which didn’t have potential profit written all over it. Today, several indicators including the firm RealtyTrac have released 1st Quarter 2017 data which shows foreclosure filings and default notices, scheduled auctions and bank repossessions are down over 5% from the prior Qtr, over 2016 and are the lowest since 2007.

Knowing the true value of real estate is critical, try to do a deal without it and see. The guidance and data within REIAComps has consistently shown investors how to determine both solid acquisition value and after repair value to earn lasting profits.

Some of the most stubborn foreclosure cases are finally being flushed out of the foreclosure pipeline, and we all can expect to see more noise in the numbers over the next few months as national foreclosure activity makes its way back to more stable patterns by the end of this year. Thus, while foreclosures are down, they will always be with us. As investors, this s a good thing! 

The data tells us a total of 152,147 U.S. properties started the foreclosure process for the first time in the first quarter of 2015. This number is down 11 percent from the previous quarter and down 8 percent from a year ago.

Other high-level findings from the report: States where first quarter foreclosure starts increased from a year ago, counter to the national trend, included Massachusetts (up 58 percent), Virginia (up 11 percent), Michigan (up 11 percent), and Illinois (up 8 percent).

States with the highest foreclosure rates in the first quarter were Florida, Maryland, Nevada, Illinois, and New Jersey. Properties that completed the foreclosure process in the first quarter took an average of 620 days, up from 604 days on average in the previous quarter and up from 572 days in the first quarter of 2014. Regardless of how long it took to foreclose, these are ripe to be valued properly and make a nice profit wholesaling or flipping.

So you will know, the length of days to foreclose is primarily contributed to those states which require litigation to complete a foreclosure. The states with the longest average days to complete a foreclosure in the first quarter were New York (1,475 days), New Jersey (1,115 days), Hawaii (1,058 days), Florida (975 days), and Kansas (963 days).

Although they are dwindling, the REO opportunities are not gone yet; for the astute investors and buyers, there are still some REO and distressed opportunities in the South Florida market. This is as healthy a market as we have seen since the boom. The same can be said of Georgia, Ohio, Virginia, Nevada, Texas and a handful of other states.

Investors, businesses and government institutions can contact RealtyTrac to license bulk foreclosure and neighborhood data or purchase customized reports. For more information contact their Data Licensing Department at 800.462.5193 or datasales@realtytrac.com.

As you build and grow your business, make sure to keep an eye on REO’s and Bank Owned Real Estate. The use of REIAComps to determine the best acquisition and ARV for every deal you look at is the best real estate decision you will ever make. Don’t for one moment let someone tell you the value of a deal. Use the six musts and let REIAComps show you the value for yourself. Now go make some money!

Source: http://savannahreia.com/the-profit/june-2017/foreclosures-on-the-move/

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Capitalization Rate Explained http://savannahreia.com/the-profit/june-2017/capitalization-rate-explained/ Sun, 4 Jun 2017 09:40:00 -0400 Post 937 at atlantareia.co Every time I mention a capitalization rate to a group of learning based, future investors, I get this blank deer in the headlights’ look (not that I have stared many deer in the face). So I decided to simplify the meaning and amplify the importance.

The capitalization rate(R) is the rate of return used to estimate the property’s value based on that property’s net operating income. Often called a Cap Rate (Rate), it is the method for determining the attractiveness of the investment for the potential purchaser.

First one needs to understand net operating income (NOI). The net operating income is the annual income minus all expenses. Expenses would include taxes, insurance, management fees, homeowner’s insurance, common area utilities and any other expenses that is paid toward running this particular piece of real estate. It does not include the mortgage… never. This rate of return assumes that the property was paid for with cash. Therefore, when you see income on this formula, we are talking about the net operating income, or, NOI which we will use the single letter I to designate. 

Income capitalizationis the market valuation of a property based upon a one-year projection of income. Stabilized NOI(I) is the true earning potential of the property in the absence of undue or extraordinary circumstances albeit its yearly history which is repetitive. In other words, it relies on a single year’s stabilized NOI to estimate the value of a property.

It may help to think of the IRV formula in the form of a triangle. It is the income capitalization method real estate managers or appraisers use. The key elements in this formula are the stabilized NOI (I) and the capitalization rate (R) and the value (V).

Figure 1

Cover up one letter at a time:

I = Rate (cap) X V (Value)

R = income/value

V = income / rate

Let’s look at some examples:

If, for example, we know the Net Operating Income (NOI) is $100,000 and we want a 10 CAP you would take the top of the pyramid (I) and divide it by the R (CAP).

I (NOI) is $100,000 /R (CAP) is 10%= V (Value) is $1,000,000

Lets look at another scenario where we are told a building is selling for $1,000,000 and at a 8 CAP, here is how we would quickly see how much income is being generated.

I = $1,000,000(V) X .08 = $80,000 NOI

Investors often use cap rate analysis in determining offer amount on income property. If a seller is asking $600,000 for a building, Is it a good deal? The income is $5000 per month. Taxes are $2700 per year. Insurance is $600 per year, and there is an 8% management fee.

$5000 x 12 months =$60,000 Income per year
$60,000 X .08 management = $4800 per year
Annual Expenses $2700 + $600 + $4800 = $5400
$60,000 - $5400 = $54,600 = I for NOI
I $54,000 / V $600,000 = 9 % R Cap Rate. Yes, It is a good deal!

If, however, the buyer decides to offer $500,000 on the last scenario:

I $54,000 / V $500,000= 10.8% R Cap Rate It is an even better deal!

As one lowers the Value or price offered, the R cap rate goes up. They are inversely proportioned. Also, as one increases the rental Income, the R cap ate will increase.

Different properties trade at different cap rates based on risk or lack thereof. A CVS drug store is going to be there for 20 years and you will collect rent exactly on time (low risk also called coupon clipper), so it would sell at a 5% or 6% cap rate. Rental houses in town where you will have to replace tenants periodically and do maintenance may trade at an 8-9% Rate because of higher risk. When the economy was down, these same houses traded at a 15% cap. So, cap rate will vary on the state of the economy as well.

In summary, the capitalization rate (R) is the rate of return used to estimate the property’s value based on that property’s net operating income. The cap rate is the method for determining the attractiveness of the investment for the potential new owner. Hopefully, this will help you judge your income properties.

Source: http://savannahreia.com/the-profit/june-2017/capitalization-rate-explained/

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Where's the Money? http://savannahreia.com/the-profit/june-2017/wheres-the-money/ Sun, 4 Jun 2017 09:50:00 -0400 Post 938 at atlantareia.co The first thing you may have learned when you became interested in real estate investing was either the concept of other people’s money (OPM) and/or leveraging. These are key concepts to learn early so you can invest and grow faster. However, not many people show you how to find money and if you find money, how to leverage it.

There are many ways to go about finding money for your real estate investments. The easiest and guaranteed way that I know how to find money to fund real estate deals is to have solid deals. While wholesalers and some investors try and do peddle properties with slim to no margins, these types of deals will not guarantee you any respectable funding. You want to find investment properties that are at least 70% of market value minus repairs. By repair, I mean that the estimated repair budget is enough to transform the investment property into the home you are using to value the property. I bet that if you have a deal that meets this criteria you can find the funds to fund it. When you begin to look for funding you want to know you have a true deal. DO NOT, I repeat, DO NOT take another person’s information as being correct. Do your own due diligence. The last thing you want to do is attempt to raise money with a property that is not a deal. 

As an investor, you want to borrow as much money as possible at the best rate possible. On the other hand, a lender wants to lend at a low loan to value, collect as many points as possible and charge the highest interest rate possible. The good news is there are many lenders competing for a profitable deal so most lenders offer similar terms.  When they see a deal with solid numbers they might make the terms a bit more favorable in order to get the deal done. If you want to make the deal sweeter, gain some rehabbing experience. Offer to help a local rehabber/investor on a few deals and use them as a learning experience. A good deal and experience will more than guarantee you can find funding. 

So where do you take your deal and experience? Excellent question. The first place I would take a solid deal is to private lenders I have been networking with and learning from long before I had a deal. You haven’t networked with any lenders?  Better get started! Let's say you found a deal and did not make any relationships to prepare for the moment you had a deal. Where should you go for funds? The place I would and have gone to is a self-directed IRA custodian meeting. This place is full of experienced, and some new, investors that are looking to put their money to work. The last time I presented a deal there I had three investors ready and able to fund. I met all three of those investors for the first time that day. This was not a coincidence as this happens all the time.

By now you know what an attractive deal looks like, what to do before or while you are looking for a deal and where to shop for virtually an unlimited supply of funds. Now the key to keeping the money faucet flowing is to do everything possible to make sure you hold up your end of the agreement. Create win win agreements and money will eventually begin to find you. 

Source: http://savannahreia.com/the-profit/june-2017/wheres-the-money/

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Your First Hour with QuickBooks Online http://savannahreia.com/the-profit/june-2017/your-first-hour-with-quickbooks-online/ Sun, 4 Jun 2017 10:10:00 -0400 Post 939 at atlantareia.co Whether you’re just launching a business or you’re going online with an existing company, take some time to get acquainted with QuickBooks Online.

Your first hour with any web-based application is probably spent exploring and clicking buttons, links, and other navigation tools to get the lay of the land.

QuickBooks Online should be no different. In fact, it’s even more important to take it slow when you’re using an accounting solution. If you start entering data without understanding how everything works together, you may make mistakes early on that will be difficult to undo down the road. 

Simple Setup

If you’re not absolutely certain you’re going to stick with QuickBooks Online, you can sign up for a 30-day free trial (no credit card required). You’ll first create an account by entering a user name, password, etc., then be asked a few simple questions about your business and the features you plan to use (invoicing, inventory, bills, etc.).

If you have data in a desktop QuickBooks file, you can start the import process here, but we strongly recommend that you let us help with setup if you’re planning to do this.

Figure 1

Once you start entering data, your QuickBooks Online Dashboard will give you an overview of your finances.

When you’ve completed your account setup, the main QuickBooks Online screen opens. You’ll see your Dashboard, a collection of data and charts that provides critical information like your bank balances, your outstanding invoices, and your current profit and loss.

You’ll eventually be using the vertical pane on the left for navigation. But you don’t need to click the links there yet – you have other setup tasks to do first.

Specifying Options

If you’ve used a desktop version of QuickBooks, you know about its many menus and its Preferences window. QuickBooks Online uses a different convention for choosing options and entering the information that will serve as the backbone for your company file. To get there, click the small gear icon in the upper right corner.

Tip: There are two other links next to the gear icon. You’ll be able to search for transactions by clicking the magnifying glass link. The plus (+) sign opens a window with links to screens where you can create transactions and initiate other activities.

Figure 2

You’ll spend a lot of time working with the links in the Your Company window when you’re setting up QuickBooks Online. You can always refer back to it later on.

As you can see, you have access to a lot of data and activity in the Your Company window. You don’t have to go through absolutely every link before you start using QuickBooks Online, but two you should look at early are Account and Settings and Manage Users.

The Account and Settings page is divided into multiple areas that you can access from a navigation bar on the left. They include:

  • Company. Fill in contact details and upload your company logo for use on sales forms.
  • Sales. Customize sales form content (preferred terms, custom fields, discount field, etc.). Would you like to turn on inventory tracking?
  • Expenses. Do you use purchase orders? Track expenses and items by customer? Make expenses and items billable?
  • Payments. Do you want to subscribe to QuickBooks Payments so you can accept credit cards and/or bank payments through QuickBooks Online?
  • Advanced. You’ll have numerous decisions to make here. For example, what tax form will you use? Will you want to automate some activities, like applying bill payments? Do you need to support multiple currencies?

Figure 2

The Advanced page of QuickBooks Online’s Account and Settings presents you with numerous options. You may want our help with this.

Multi-User Access

Will more than one person at your company be using QuickBooks Online? If so, you’ll most likely want to specify what areas they’re allowed to visit and what activities they can do. Click the gear icon in the upper right and then select Manage Users. QuickBooks Online displays a mini-interview in a window here that walks you through the process of assigning access rights to individuals (Custom User, Time Tracking Only, etc.).

We’ve probably taken up more than your first hour by now, but we wanted to stress the importance of thoroughly setting up QuickBooks Online before you start entering contact records and creating transactions. If this is your first experience with an accounting application, we highly recommend that you engage us in your first hours of using QuickBooks Online. We can come in at any time and troubleshoot problems, but it’ll be more economical and less time-consuming if we work with you from the start.

Source: http://savannahreia.com/the-profit/june-2017/your-first-hour-with-quickbooks-online/

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What is Massive Action? http://savannahreia.com/the-profit/june-2017/what-is-massive-action/ Sun, 4 Jun 2017 10:20:00 -0400 Post 941 at atlantareia.co 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. 

  1. Do Nothing

    These are the people that do just that…nothing. They may buy a course or attend a seminar but ultimately do nothing with the material. And when you do nothing, guess what you are rewarded with? Not nothing, but pain. The reason is you now have added something to your brain to wonder about ‘what could have been had you put in the effort?’ It opens the door to regret.

  2. Retreat

    This is when you look into something and decide you don’t want to work through the challenges out of fear. Excuses surface like ‘It’s too hard. I can’t do it. I could never do that. It takes too long.’ The list of excuses is endless as to why one chooses not to do something. This is not a place to be ever in this business.

  3. Average

    This is the killer of the four. When one takes average action, you seduce yourself into thinking you are working hard when in reality, you are not. One of the biggest problems with average is when something out of the ordinary happens, you are not prepared. And in real estate, these can be very painful and expensive lessons. Serious degrees of stress, hurt and uncertainty almost always come with being average. Average levels are ultimately a ‘retreat’ from what you are capable of.

  4. Massive Action

    This is the state that is actually the one that is ‘normal’ for humans. When we were kids, it was normal to advance and conquer. Boldly. The problem is we were ‘conditioned’ along the way by parents, teachers, adults, whoever to restrain ourselves from what we are capable of. As a result, we are conditioned to be average but in reality, massive action is our most natural state when we are born. Study children. They are massive action takers and when they fail, they don’t spend months, weeks, days or even minutes dwelling on it. They get back up and get going. They are massive action takers.

It is your goal to do everything with massive action as a wholesaler. Anything less and you will likely not succeed in this business. The principle is simple. However, much action you ‘think’ you need to take, multiply it by 10x. If you think you need to talk to 10 sellers, plan on 100. If you think you need to go to 5 meetings, find 50 (online or in person). If you need to talk to 3 agents, plan on 30. If you plan to send 100 mailers, do 1000. Whatever it is, 10x the amount of effort. When you operate at these levels, some level of success is practically unavoidable.

There is nothing ‘average’ about operating at a 10x level. There certainly is no room for Do Nothing or Retreat. 10x levels of action, Massive Action, will push you and at the same time free you to be the person you want to be. A person without limits. One last thought I will share here is that Grant states there is no shortage of Success. It is limitless. The limits are only in your head. If there is no shortage to Success, then what are you waiting for?

I highly recommend you get the book and read it immediately as in right now! Then apply it. Get going and take massive action and watch your goals transform starting today.

Source: http://savannahreia.com/the-profit/june-2017/what-is-massive-action/

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Life on Your Time: Life360 App Review http://savannahreia.com/the-profit/june-2017/life-on-your-time-life360-app-review/ Sun, 4 Jun 2017 10:30:00 -0400 Post 942 at atlantareia.co “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. 

I hate sending texts to people when I think they’re already on their way to meet me, especially if they are driving. This app eliminates that problem by telling me where they are. I can create geofence zones around my home, my work site or my office. Whenever someone in my circle arrives or leaves, the app sends me a notification.

The primary reason I’m currently using this app is to monitor my son’s driving habits. I’m obviously not going to use this forever. It is important to build good driving habits and this helps me reinforce those good behaviors. With the latest update, I can view my son as well as other drivers. Under the premium subscription plan, I can see when he’s speeding or texting while driving. I can even compare my own driving habits with my son’s to better gauge who should be teaching who.

There is also a premium Crash detection service. I can use the accelerometer on my phone and automatically detect a crash. The software has been tested in BMW’s crash test facility, and  analyzed data from numerous real life car crashes. When a crash is noticed, there is a trained emergency team that can call the driver involved within minutes to assess the situation. If police or emergency services are needed, if insurance agents are available, the Life360 App has that covered. This app will also notify me or my spouse since we’re all in the ‘circle’ together.

Life360 has three subscription options: Life360 Plus - $2.99/mo, Life360 Driver Protect (US) - 7.99/mo, Life360 Driver Protect (Non-US) - $4.99/mo. With the Plus option, there is 30 days worth of stored history of everyone’s activity in your ‘circle’. There are also unlimited place alerts and local crime notifications within the USA. Driver Protect offers all the features of Plus, as well as driving analysis, 24/7 driver care support (US only), and crash detection (US only). All Driver Protect and Plus subscriptions have a free 7 day trial. After the trial ends, the subscription will auto-renew on a monthly or yearly basis.

Source: http://savannahreia.com/the-profit/june-2017/life-on-your-time-life360-app-review/

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Learn to Protect Yourself & Your Assets with Land Trusts at BIG Online with Larry Harbolt http://savannahreia.com/beginning-investors-group-online/learn-to-protect-yourself-and-your-assets-with-land-trusts-at-big-online-with-larry-harbolt/ Mon, 22 May 2017 10:00:00 -0400 Post 926 at atlantareia.co Wed, May 24th @ 7PM on GoToWebinar
Protecting Yourself &
Your Assets With Land Trusts

with Larry Harbolt on May 24th
@ 7PM on GoToWebinar

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

Larry HarboltPlease 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.

Register Now!

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.

About the Beginning Investors Group Online (BIG O)

Beginning Investors Group Online (The BIG O)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.

See Savannah REIA Events Calendar for More Events!

Source: http://savannahreia.com/beginning-investors-group-online/learn-to-protect-yourself-and-your-assets-with-land-trusts-at-big-online-with-larry-harbolt/

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Savannah REIA Main Meeting on May 8, 2017 http://savannahreia.com/main-meeting/savannah-reia-main-meeting-on-may-8-2017/ Wed, 3 May 2017 11:25:00 -0400 Post 908 at atlantareia.co Mon, May 8th at 6:30 PM in Savannah
Savannah REIA - May 8th
with Aislee Jackson

Aislee JacksonCome 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 Please RSVP on Meetup.com
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.

Subscribe to Our Email List & Mobile VIP List

Subscribe to our Savannah REIA Email & Newsletter List and we will deliver The Profit Newsletter ($19.95 value) and other updates and announcements to your inbox every month for FREE!

Join Our Mobile VIP List by texting the word SAVANNAH to 912-480-9222 and get periodic text updates from us about meetings, workshops and more.

Join Our Mobile VIP Home Buyers List by texting the word ADDME to 912-480-9222 and get periodic text updates from us regarding HOT, Off Market Houses for sale.

Follow Us on Facebook.com & Meetup.com

Savannah REIA on FacebookLike Savannah REIA on Facebook
Also, be sure to Like Savannah REIA on Facebook where we will also be posting any upcoming meetings, events and other useful information. You can also interact with our Facebook page and post your have’s and wants as well.

Savannah REIA on Meetup.comJoin Savannah REIA on Meetup.
If you are interested in being a part of the Savannah Real Estate Investors Alliance, investing in real estate or just want more information on our new REIA, be sure to Join Savannah REIA’s Meetup Group so you can stay informed on any upcoming meetings and events.

See Savannah REIA Events Calendar for More Events!

Source: http://savannahreia.com/main-meeting/savannah-reia-main-meeting-on-may-8-2017/

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