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The Profit August 2017

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The Profit August 2017 Articles

Finding Your Fortune with Vacant, Distressed Properties
By Reggie Brooks
Reggie BrooksWhen I began my career as a real estate investor in 1985, I stumbled across a tremendous opportunity that most people still don’t know about to this day. Yet it has given my family and me a lifestyle we never dared dream we’d have. I’m talking about investing in vacant, distressed, abandoned properties – a highly lucrative, yet little-known, segment of the market. Vacant/Abandoned properties are just that – vacant. No one lives or works there anymore. Weeds may be collecting and taxes may be accruing, but in many cases the owner has already divorced himself emotionally from the property.... Read More >>

Using The Right Mailing Lists To Locate Motivated Sellers - Part 2
By Kathy Kennebrook
Kathy KennebrookSo what other lists can we use to locate highly motivated sellers? One of my favorite lists is people who are behind on taxes. You can get this list by getting a list of tax certificates available for sale in your county. In most counties this list comes out right before the tax certificate sale takes place. You would then mail them a neutral type of letter saying you are interested in buying properties in their neighborhood or subdivision. When mailing these letters initially, I suggest that you do not refer to the seller’s specific problem. All you will accomplish... Read More >>

Three Misconceptions About Building Wealth Through a Real Estate IRA
By Jim Hitt
Jim HittBuilding wealth is a bit like dieting, in that everyone has different advice for you. “Cut up the credit cards,” personal finance gurus say, “and don’t buy that morning latte every morning.” Others say that stocks are the one true—and only—way to achieve prosperity. But is there any truth to these ideas, or is an option like a Real Estate IRA just as valid as any other path to wealth? To figure it out, we’ll have to cut straight through the clutter. Let’s debunk three misconceptions about retirement investment in real estate right off the bat. Misconception #1: The Real... Read More >>

How To Do More With Less
By Jonathan Henrich
Jonathan HenrichIf you’ve been reading my articles then you know that I like to write about philosophy and self-help topics more than the topic of investing and there is a reason for this. Even though I love to talk deals, in my experience I have found no matter what you are investing in, the act of investing is just another piece of the puzzle in the grand scheme. We spend our days investing in lots of things. Many times, we spend so much time focusing on what we should be doing, how we should be acting and who we should be... Read More >>

Keep Your Name Good in the Real Estate Business
By Larry Harbolt
Larry HarboltMake Sure You Always Keep ALL Avenues of Communications Open If You Want to Keep Your Name Good In the Real Estate Business. What an interesting thing to say.  Making sure you always stay in communication with everyone you have any type of financial obligations with. This is a subject that has caused much unneeded anxiety and stress that is totally not necessary if both people involved in every financial situation continually have open communications regardless of the status of the transaction they are involved in. Over the years having been both a private Lender and a Landlord it has... Read More >>

Mayor Kasim Reed Blowing Smoke
By Russ Hiner
Russ HinerMayor Kasim Reed is a short-sighted politician.  Thank goodness for term limits. Mayor Kasim Reed says he is concerned about affordable housing. In a recent AJC article, Mayor Reed used terms like “predatory purchasing”. I believe this slanderous name calling only causes separation and stirs up animosity between the sellers and investor buyers. I am upset about this article where Mayor Reed said that investors are using predatory purchases to acquire houses and force the property values to go up, so there is no longer affordable housing in Atlanta. If the city of Atlanta is going to point fingers they... Read More >>

How to Keep Your QuickBooks Data Safe
By Karen Bershad
Karen BershadYou work hard to make sure your QuickBooks data is accurate. Make sure it’s safe, too. Your QuickBooks company file contains some of the most sensitive information on your computer. You may have customers’ credit card numbers and employees’ Social Security numbers. An intruder who captured all that data could create tremendous problems for you and a lot of other people. That’s probably the worst-case scenario. But other situations could also spell disaster for your business, which  involve losing your company data through fraud, hacking, or simple technical failures. We can’t overstate the vital importance of protecting your QuickBooks company... Read More >>

How We Creatively Funded A Recent Deal
By Bill Cook
Bill CookHow do seasoned real estate investors creatively fund their deals without going to a bank?  To show you one way, let’s look at a deal that Kim and I recently got funded using a private-money lender. This deal began when Kim and I were high bidders at the December 3, 2013 property tax auction in Cartersville, Georgia.  We bought the tax deed on 50 Akin Drive for $2,800.  The purchase money came from our checking account and was used to pay up the property’s back taxes for tax years 2010, 2011, 2012 and 2013.  By the way, despite what the... Read More >>

Land Trusts! What You Need to Know to Get Started
By Tony Pearl
Tony PearlLand Trusts are one of the most confusing and often misunderstood aspects of real estate investing. In this article, we’re going to discuss a few basic, essential things you should know about Land Trusts if you’re buying & selling houses, are concerned with privacy, and/or want to enhance your estate planning. I'm often asked about these wonderful 'things' called Land Trusts, and the techniques & benefits that are associated with them.  As a land trust expert, it's an AMAZING feeling to have the knowledge & confidence to be able to use them correctly. Would you like to have that awesome... Read More >>

Coming Back Home… to Wholesaling!
By Frank Iglesias
Frank IglesiasYou have seen the infomercial… it goes like this… Start with wholesaling Make some money Start Rehabbing Make Bigger Checks Retire There are a few variations on this theme, so allow me to share a different spin that I and a few colleagues of mine have explored.  It looks more like this… Start with wholesaling Make some money Start Rehabbing Make Bigger Checks… sometimes but not always Quit working so hard and go back to doing some wholesaling. So this is not exactly what we are doing since we are also doing new construction but remove the new builds from... Read More >>

By Michael Vazquez
Michael VazquezToday after leaving a meeting I was approached by an investor that asked where I found my leads. I answered by giving him a few examples of where I received my most recent listings. By seeing the look on his face, I could tell that he didn't like my response. I think he believed I was holding out and not wanting to share or there was something special I was doing which was/is not the case. Like this gentleman and probably like many of you, I once too believed there was a magic bullet/formula to successfully finding a lead in... Read More >>

The HOT Atlanta Real Estate Market Stats Reflects That It Is Still A Seller's Market
By Deborah Harris
Deborah HarrisAtlanta continues to be one of the hottest real estate markets to rebound since the recession continuing through First Quarter 2017.  But, before we analyze the numbers, sellers must realize the following: Price and condition account for 80% of buyer interest and acceptance for any property therefore what needs to be done should be done to present your house in the best possible way. Nobody can dictate at what price your house will sell. The market will determine the price that buyers are willing to pay. When you price your house too low, the market will raise the price due... Read More >>

August Review: Quality Smart Lock System
By Don DeRosa
Don DeRosa “Preconceived notions are the locks on the door to wisdom.” ~ Mary Browne There is none other than August that are doing Bluetooth locks to the caliber of quality like we've never experienced before. August Lock System is something that is worth it. It works best with a Schlage deadbolt or other high-end deadbolt lock. It faces the interior door, so it doesn’t add a level of security that is significant. It is a convenience for the homeowner if perhaps they aren't home and someone needs to attend to plants and pets. The startup takes two steps to connect to... Read More >>

Making Any Market Work For You
By Mark Jackson
Mark JacksonWhen we are always confident that real estate comps are solid, we feel comfortable stepping out into any real estate deal. Using REIA Comps will give you a feeling of confidence and complete sense of control of the value for any deal you are doing.  Because things can be so busy these days, it is important to take the steps to make money on any project you pursue.  Learning to work with the highs and lows of any real estate market means longevity for you. Most realtors do a good job but in a sellers’ market you can probably sell... Read More >>