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The Profit August 2016

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The Profit August 2016 Articles

The Active Real Estate Investor vs The Passive Real Estate Investor
By Robyn Thompson
Robyn ThompsonAre you an active or passive real estate investor? This is the MAGIC question that all real estate investors should ask themselves on a regular basis, rather they know it or not.  Let me explain.  Many beginning investors want to focus 100% on wholesaling and rehabbing so they can make the fast cash and big checks.  They don’t want the headaches of toilets, trash and tenants. After all it feels good to take a rundown house and flip it to a rehabber and make a quick $5000 or $10,000 in a few hours or better yet tear it apart, fix... Read More >>

Why Now May Be the Best Time to Sell
By Mark Jackson
Mark JacksonWe know you have been thinking about Selling, Wholesaling or doing a Fix and Flip, but weren't sure when to do it, there may not be a better time than now. To be sure, the decision to act greatly depends on your own personal circumstances. However, several factors have combined to make this a good time to think about taking action. The idea of jumping into the market, especially if you have been cautiously sitting on the sidelines, is now! Over the past few years, the inventory of homes for sale has steadily shrunken, even as the demand from buyers... Read More >>

Teach by Doing: Pro Recorder App Review
By Don DeRosa
Don DeRosa“The mediocre teacher tells. The good teacher explains. The superior teacher demonstrates. The great teacher inspires.” ~ William Arthur Ward It is best to teach by example. Now that everything is on a digital platform it can be difficult to find the right words to explain an action step-by-step to someone. Whether it is a menial task like sorting through spam email or getting a website listing to appear on a mobile platform, it is confusing to explain something in an email or text message. I find myself to be a visual learner and the best way to show me... Read More >>

How to Determine If Your Loan Is Fraudulent
By Bob Massey
Bob MasseyThrough the 1990s and early 2000s millions upon millions of loans were created. This created some interesting issues for the banks. In some cases, they were looking for ways to cut down on the steps in the process in order to reduce the time it took to process a loan in order to keep up with the flood of business. In some other cases, they were looking for ways to take advantage of the system to bilk homeowners, their investors, and the government out of as much money possible. Unfortunately, the solutions the banks came up with for both of... Read More >>

How To Build Credibility With Buyers - Part 3
By Frank Iglesias
Frank IglesiasIn the last two posts, we talked about building credibility with Buyers.  We have covered four steps so far.  Last month, we talked about the importance of having a real deal and doing your own due diligence as key points.  This month, we will talk about how to continue creating credibility and maintaining it for the lifetime of a deal. Step 5: Maintain Open Communication In a world where social media dominates and text messaging is overused for serious matters in my opinion, almost if not every Buyer I have met over the years prefers phone communication or in person... Read More >>

The Self-Directed Real Estate IRA: Five Benefits You Didn’t Know
By Jim Hitt
Jim HittYou might have heard of a Real Estate IRA. You might have even looked into it as an option in the past as you considered the retirement options that make the most sense for you and your family. But if you’re not familiar with this kind of retirement account, you might be surprised at just what kinds of investment results you can have when using it properly. Don’t believe us? Let’s take a closer look at the Self-Directed Real Estate IRA—and how it can uniquely benefit your retirement plans: Benefit #1: Getting More Leverage with a Real Estate IRA One... Read More >>

Finding Deals in a Seller’s Market
By Kimberlee Frank
Kimberlee FrankThe number one thing that makes an Investor successful is finding, buying and selling properties from a Motivated Seller.  As I have stated in previous articles, the only thing that makes Investors money is a Motivated Seller.  So … how do you find motivated Sellers when it’s a Seller’s market?  There are several ways to become successful and as an Investor the key to your success is having a marketing machine running all the time.  A Seller’s market means that when a property is listed on the Multiple Listing Service, the Sellers receive multiple offers from Investors, homeowners and landlords. ... Read More >>

5 Easy Seller Objections to Overcome
By Michael Vazquez
Michael VazquezIf you are going to meet a seller you will inevitably hear objections to the first price you offer. You can be as little as $1,000.00 off the seller’s asking price and the seller will still look to get you to the asking price. It is in our human nature to try to look out for our best interest so do not get upset. All you simply have to do is prepare for the most common objections and get the seller to agree with you. Here are the objections I run into the most and how I have been able... Read More >>

Setting Up Settings in QuickBooks Online
By Karen Bershad
Karen BershadYou’ll be visiting QuickBooks Online’s Settings screen regularly, so it’s good to know what’s there. You can get into a rental car and just start driving to your destination. But you soon realize that you need to know where the temperature controls and the radio tuner are. If it starts raining, you must know where the wiper controls are. And when it gets dark, you’d better know how to turn on the headlights. The same goes for QuickBooks Online. You can create bills and start paying them or begin to invoice customers or record expenses as soon as you set... Read More >>

What’s It Gonna Take? How to Finally End Procrastination & Take Action!
By Tony Pearl
Tony PearlThis article was not easy to write. In fact, it was one of the more challenging articles I’ve written in a while. Why? Because it deals with something that’s not easy for us to talk about: The reason why most people don’t take the action they know they should so that they can have the success they say they want to have. The only place where success comes before work is in the dictionary. It’s an old-school, classic, tried-and-true principle: If you want to have success, you’ve got to work hard to make it happen.  And hard work means taking... Read More >>

Create a Wealthy Mindset And Never Be Poor Again
By Kathy Kennebrook
Kathy KennebrookDid you ever wonder why some people are really wealthy and some people barely live paycheck to paycheck? Did you ever think “Why can’t I be wealthy like them?” What do the wealthy people know that I don’t? “How did they get rich? These are all valid questions, but I would say, the reason why you are or aren’t a wealthy person is entirely between your ears. So what exactly do I mean by that? It’s simply this. Wealth is based on a state of mind, not on how much education you have, how many hours you work, or who... Read More >>

Celebrating Financial Independence Day
By Russ Hiner
Russ HinerWhen we think of the Fourth of July we think about fireworks, grilling, and being with friends and family in celebration. I am a very big pyrotechnics fan, I always have a supply of fireworks for any occasion. If there is any excuse to launch a mortar or rockets, then I am very excited. Yes, I have gotten my share of injuries. I still have my eyes and fingers. The injuries healed. This is just like getting involved in real estate. You must know the risk and rewards when you buy and sell real property. When I am picking out... Read More >>

Sage Advice From an Old Investor
By Bill Cook
Bill CookAfter closing the doors of North Georgia REIA forever, we have been reminiscing about the best lessons we’ve shared with our group. With this in mind, here’s some sage advice from an old investor. How do I know whether a deal is good or not?  How do I know what I’m looking at?  And if I decide to take the deal down, how do I get it funded fast without going to a bank? When Kim and I began our investing careers in 1995, we thought all houses were pretty much the same.  But over time and with experience, we’ve... Read More >>

Do You Have a Burning Desire to Buy One Hundred Houses Per Year? - Part 1
By Larry Harbolt
Larry HarboltThis is an article I wrote a few years ago. Again I am hearing the rumblings of some of my students who believe they can buy 100 houses or more every year and it scares me to death. I believe what this article says is so important for every investor to know. That is why I decided to have this article republished. Recently I was talking to several of my students who each said they wanted to buy 100 houses this year. These students had listened to one of the guru’s who had bought and sold over one hundred houses... Read More >>

Atlanta Area Statistics Are Important in Analyzing Real Estate Deals
By Deborah Harris
Deborah HarrisAtlanta, Georgia is one of the strongest real estate markets in the US and has favored Sellers rather than Buyers since spring of 2013. According to Realtor.com, the median list price in Atlanta has gone from just over $200,000 in 2014 to over $300,000 in 2016 and is currently leveling off. A $100,000 median price gain in two years is nothing short of fantastic. See Figure 1. Figure 1 For the purposes of this article, we are talking about single family detached in these areas. See Figure 2. Figure 2 Figure 3 is a chart depicting the number SOLD. Sales... Read More >>