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The Profit February 2016

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The Profit February 2016 Articles

My Top Advice For Anyone Wanting To Do More Deals
By Scott Ulmer
Scott Ulmer4 years ago I was a mentor at a large real estate convention in Orlando. Part of the draw at the convention was that we would actually work student’s deals on the spot in real time, leads that they had brought with them from their own hometown. We would call and negotiate the deals, and any profits made were kept by the student 100%. At the time I was running a real estate operation for a nationally known real estate guru and we had recently implemented a new post-2008 strategy, and it really had taken off. There were literally hundreds... Read More >>


Right or Wrong, Your Note and Mortgage Are Rescinded After 20 Days
By Bob Massey
Bob MasseyHomeowners across the country owe a debt of gratitude to the states of Hawaii and Illinois. No, not for deep dish pizza and black sand beaches, but because their Appellate courts just handed down two of the strongest, pro-homeowner rulings on the issue of rescission that I have ever seen. Despite the fact that the Supreme Court of the United States was explicit in its Jesinoski decision, many lower courts across the country have been acting on their own and interpreting the law as they see it. As you can imagine, this tends to benefit the banks, with their high-priced... Read More >>


Short Sales Can Be “SHHHHORT!!”
By Kimberlee Frank
Kimberlee FrankI know that many of you believe that short sales can’t be short; however, on this deal, the time frame from beginning to end was approximately 35 days. The Seller had lived in the property for years and the foreclosure action had been going on for approximately 4 years. During the 4 year period, the seller attempted to do a loan modification and had never attempted a short sale. There was a Foreclosure Auction Sale date scheduled for December 15, 2015. We had to act quickly as there were two loans on the home. We pulled title work and found... Read More >>


Why a Real Estate IRA in This Day and Age?
By Jim Hitt
Jim HittWe live in a digital world. We log onto the Internet all the time, and check our stocks. In the information age, it can sometimes seem strange that you would ever want an IRA that included something of real value like real estate or gold and precious metals. In fact, some people aren’t even aware that they can include these investments in their retirement portfolio. Instead, they simply follow the traditional advice – which usually nets them a complete reliability on the strength of the stock market. Why would anyone consider an alternative, like a Real Estate IRA? As it... Read More >>


Flipping is Illegal – Part 1
By Ron LeGrand
Ron LeGrandOh No! All this time you’ve been telling me I could make a killing buying & selling (flipping) houses and now you’re telling me it’s illegal, Ron? Well, sort of! But before you get all upset, I’d better explain. Don’t worry; you’re not going to jail. Here’s the deal. Illegal flipping is indeed illegal. But first, let’s define flipping because it is a misunderstood term, sort of like the term "nothing down." When I say you can buy houses with nothing down, I mean you’re not using your own money. That doesn’t mean the seller doesn’t get money. Sometimes they... Read More >>


Attracting Even More Motivated Sellers in an Ever Changing Market – Part 2
By Kathy Kennebrook
Kathy KennebrookYou can also control the types of sellers who are contacting you and the types of properties you want to purchase. In a changing market, this ability to be flexible is especially important and using direct mail is the only marketing tool available that gives you the opportunity to pick and choose the types of sellers you want to deal with. The more direct mail campaigns you do, the higher the response rate gets. So the more you do it, the less direct mail costs per lead and per deal. Direct mail is the only marketing technique out there that... Read More >>


Squeeze Page Madness!! A Quick Guide to Setting Up Your First Squeeze Page - Part 3
By Tony Pearl
Tony PearlA Quick Guide to Setting Up Your First Squeeze Page - Part 3 Welcome Back...Again! We’ve been talking about Squeeze Pages - what they are, why you should care, and why they work so well. In the last issue, we covered why Squeeze Pages work so well, the required elements of one, and what it should look like. I even gave you an example of one of my kick-butt headlines that worked like gangbusters! So this month, we’ll close things out nicely, but start it off here: What You Need To Make Your Squeeze Page There's a few basic, required... Read More >>


The Key to Your Profit
By Mark Jackson
Mark JacksonPeople from all over the world have a common trait. No matter what the product, the word SALE always draws our attention. When it comes to real estate, that same line of thinking stands.  The phrase "you make money when you buy, you realize that money when you sell" continues to ring true. The challenge is being able to spot that awesome deal amongst many poor or inadequate deals.  I cannot stress enough proper real estate investing education should be your goal. Using REIA comps to analyze every new deal you do is the avenue that will help you make... Read More >>


Safe and Sound: Keeper App Review
By Don DeRosa
Don DeRosa"Treat your password like your toothbrush. Don't let anybody else use it, and get a new one every six months." ~ Clifford Stoll I’ve tried everything to keep all my passwords secure but still accessible. I’ve tried using phrases, combining dates, symbols and the like. But still my password combinations never seem to be long enough or ‘strong’ enough. When I think I have a handle on the password situation it never seems to work out. The Keeper App has solved many of my day-to-day problems with login interfaces. Sometimes there are two part login screens that slow me down,... Read More >>


Goals… Good or Bad?
By Bill Ham
Bill HamGoals can be a great thing if we set the right goals using the right methods. Setting the wrong goals can be very detrimental to your business. Are you setting the right goals? In this article I am going to take a contrarian point of view to the normal goal setting info that most people teach. Let me go on record as saying I disagree with most of the general goal setting info put out in the information market these days. When I take on a new real estate student one of the first things I do is to have... Read More >>


Four Steps to an Incredible 2016 Wholesaling
By Frank Iglesias
Frank IglesiasRecently I did a meeting where we discussed what a wholesaler needs to do to have an awesome 2016. After giving it some thought, it’s really quite simple. Only four steps are needed and doing these four things consistently will make a huge difference in how much success one has. Let’s get right to the four steps to an incredible 2016 wholesaling! Marketing – The lifeblood of your business. No marketing, no leads. It is a requirement above all else. While there is a plethora of free marketing ideas as well as paid ones, the key is to do them... Read More >>


The Addiction of Success!
By Russ Hiner
Russ HinerOver the holidays I had a few great learning lessons. I volunteer for several different causes. The one I chose, was a half-way house for recovering addicts. I have learned from that experience that it takes on average 6 times or 6 attempts to become clean. Now this is an average. There are some individuals who will get clean in a much shorter time because they have super “WHY” and have the right relationships which will support them in their life’s journey. So I started to look at my own life and the struggles I have learning and implementing new... Read More >>


What QuickBooks' Calendar Can Do for You
By Karen Bershad
Karen BershadYet another calendar? Yes. It’s a good idea to use QuickBooks’ calendar to stay on top of your financial transactions. These days, some of us find ourselves updating multiple calendars. There’s the Outlook calendar or other web-based solution for scheduling and task management. Maybe a smartphone app to track to-do’s on the road, and a paper calendar as backup. But where do you keep track of your everyday financial tasks? Including these in your scheduling calendars and/or task lists will make for very crowded screens, not to mention how inconvenient it can be to keep switching between applications. So consider... Read More >>


New Year, New Market
By Michael Vazquez
Michael VazquezIf you are a smart investor you read and stay up to date with the market. But as you read, you find that different people have different opinions as to why the real estate market has shifted, which range from the presidential election, the stock market, the price of a barrel of oil, employment reports, changing interest rates, etc. The fact is, all these are intertwined and they all have a chain reaction effect on real estate. While you cannot make a huge immediate impact on the direction of any of these factors, you can make changes in your game... Read More >>


Goodbye. We’ll See Y’all Later!
By Bill Cook
Bill CookKim and I want to thank you for reading our weekly real estate investing newspaper column for the past 13 years. With this last article, we say: Goodbye, y’all! In 2003, when we started this feature, we were still fairly new to real estate investing. As we gained knowledge and experience, we shared the creative deal-structuring techniques we learned that allowed the impossible deals to become not only possible, but also probable. We also shared most every mistake we made along the way. We did this because more great lessons are learned from failure than from success! And, we wrote... Read More >>


If You Want to Be a Successful Real Estate Investor Stop Trying to Put the Cart Before the Horse!
By Larry Harbolt
Larry HarboltIt seems that nobody today learning how to be a real estate investor wants to start at the bottom anymore. What I mean is, most beginning real estate investors want to start at the top making money like those who have spent many years learning how to buy real estate and make money every time they buy. Having been a licensed building contractor in a previous life I can tell you that I never built a house starting with the roof and then built downward to the foundation. Investors today must realize it just doesn’t work trying to get rich... Read More >>