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The Profit July 2015

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The Profit July 2015 Articles

Too Many Loyalty Cards?
By Don DeRosa
Don DeRosa“I always say shopping is cheaper than a psychiatrist.” ~Tammy Faye Bakker The other day I was in the grocery store picking up some milk. In the checkout line, the checker asked the guy ahead of me if he had one of those loyalty cards. Well, this guy took out a shoebox full of those cards – a shoebox! –and started searching through them. It took forever! Okay, maybe I made that up. Actually, if anyone needs a shoebox for those cards, it’s probably me. And if I were to pull out that shoebox in the checkout line, I’ll bet... Read More >>


How To Use Signage to Locate Even More Deals
By Kathy Kennebrook
Kathy KennebrookSignage is an important tool for you to use in your real estate investing business. Using signage is another inexpensive way to draw motivated sellers and deals to you. Many real estate investors find that signage can produce more deals in a year than some of the other methods they use in their businesses. Once again, you need to test and track the results in your own business. There are several different types of signage you can use. Some are permanent, some are temporary. Some are very inexpensive and some will cost more. I will discuss several different types of... Read More >>


Market is Hot? Don’t Let It Mess With Your Numbers.
By Frank Iglesias
Frank IglesiasYou may have noticed that the Atlanta market in general is hot right now. Prices are going up. The newspaper is telling people values are going up. CNN, Fox and more are reporting more new developments every week it seems. If you are a homeowner, this is the news you have been wanting to hear. ‘Sellers’ market!’ is being proclaimed by agents in recent months and to a reasonable degree, that is the case. So where does this leave you as a wholesaler? I would argue it leaves us in one of a few positions: Ride the wave and pay... Read More >>


Why You Should Be Using Mobile Apps with QuickBooks
By Karen Bershad
Karen BershadIntuit discontinued its own QuickBooks mobile app a while back, but there's still plenty of processing power available for your smartphone or tablet. In days gone by, running a company was a 40 hour per week proposition. You might have taken work home some evenings or gone into the office on weekends. Those days are over, thanks to the internet and mobile technology. This fundamental change in the way we do business means that it's now hard to get away from work. Your smartphone and tablet are usually within easy reach, and they're always tempting you to check in. On... Read More >>


Get More Private $$$
By Bill Ham
Bill HamUnless you are already rich and have all the cash you need to build your real estate empire, you will probably need to explore the world of private money. Private money can come in many different forms such as investor’s capital, private loans, and hard money loans. Most real estate entrepreneurs start with capital from friends and family. This may be the best place for you to start raising money for your deals. Depending on the relationships you have with your friends and family will determine if this a good place to start or not. They may be willing to... Read More >>


Are You Planning Poorly or Positively Profiting on Your Deals?
By Kimberlee Frank
Kimberlee FrankCalculating costs to purchase, fix and resell a house has always been a downfall for many Investors. At a recent Real Estate Investor Meeting, I heard a great explanation of how people come up with their numbers. You all need to be sure you don’t fudge your numbers and fool yourself into thinking you are going to make a profit. This Article focuses on all the things you must consider when purchasing a property, such as holding costs, cost of the money, and closing costs that you will incur on properties. When a student contacts me on a property and... Read More >>


Have You Ever Thought You’d Like To Buy And Sell Houses But Didn’t Know How Or Where To Get The Money? – Part 2
By Ron LeGrand
Ron LeGrandLast month, I taught you about two ways to make money in real estate. I covered retailing and wholesaling. Those two methods generally involve buying houses that are in need of repairs at a deeply discounted price. This month, I will teach you about the other two ways to profit in real estate that is considered to be the Pretty House Business. Lease-Options – Many people are not aware you do not have to buy a property to profit from it. In the case of lease-options, we lease it from the seller with an option to buy it at some... Read More >>


Prices Sure Are Rising, But Maybe Not For the Reasons We Think
By Mark Jackson
Mark JacksonReally good real estate investors know and rely on the valuation of their deals as the key to success and profits. The economic slump that richer countries have suffered during the past seven years can be blamed on a runaway housing bubble that started right here in the U.S. All the market areas covered by REIAComps, insure when pricing changes happen you are not caught off guard. When it comes to the tic of the housing bubble, there were other issues like poor oversight of the broader financial system which led to the crash. But without the real estate bubble,... Read More >>


More Deals, Less Time
By Russ Hiner
Russ HinerRecently I was coaching a student, and we came across what appeared to be an excellent opportunity. Because of my knowledge of the area, I was immediately able to give the student the right price to offer. I showed him how to negotiate the contract, which he did perfectly. The result? With my knowledge, we were able to do only minimum work. While we found that the property wasn’t the deal we expected, we did so without wasting time. Since time equals money, it is essential to know your market so that you don’t work too hard for nothing. We... Read More >>


Why Does Everyone Want to Become a Wholesaler? - Part One
By Larry Harbolt
Larry HarboltI have noticed over the past months that almost everyone I talk to today tell me they want to be a wholesaler. These people want to wholesale deals as a way to generate fast money to pay their living expenses each month. What in the world is going on here? Why is it that all of a sudden everyone wants to become a wholesaler when there are so many other different ways to profit from real estate other than wholesaling? Don’t get me wrong I’m not suggesting that wholesaling isn’t a great way to get started as a real estate... Read More >>


Let’s Agree to Disagree
By Tony Pearl
Tony PearlRecently, I was in one of my favorite marketing forums (name withheld) where I usually exchange brilliant ideas with other geniuses, and one of the members happened to mention some negative things about real estate, some of the teacher/gurus, and how ‘this real estate stuff doesn’t work.’ This guy was insulting several of our well-known teachers that we’ve come to know and love. After reading a little bit of what he said, it was clear to me that he hadn’t done any deals, and like most people who say this kind of stuff, was speaking from a place of ignorance... Read More >>


What Makes the Best Rental Property?
By Bill Cook
Bill CookOver the past twenty years, Kim and I have bought a wide variety of investment homes – everything from a one-bedroom, one-bath duplex to a six-bedroom, four-bath McMansion. Experience has taught us what makes the best – and worst – rental property! Jack Miller said: Everything else in real estate is harder than a house. With that said, Kim and I stay away from townhomes, condos, duplexes and apartment buildings. We’re not saying these are bad investments; it’s just that they require a lot of hands-on attention, and our goal is freedom, not a j-o-b. When it comes to single-family... Read More >>


How To Get Your Real Estate IRA Purchase Offers Accepted
By Jim Hitt
Jim HittBuying properties for your real estate IRA is competitive. That’s especially true for investment properties, where it’s critical to buy properties at an advantageous price. Real estate investors must be more price-sensitive than retail buyers and owner-occupants. But these days, It’s routine in many markets for buyers to encounter competitive bidding situations: Where multiple buyers are making offers on a given property at the same time. According to data from the Redfin Corporation, 61 percent of offers from their agents were facing competition from other buyers in March of 2015. This number has bounced around between 45 percent and 75... Read More >>


How To Stop A Foreclosure In Its Tracks!
By Bob Massey
Bob MasseyIf you ask most people they would probably tell you that the foreclosure crisis is over, and that we’re in the middle of a housing recovery. The fact of the matter is that foreclosures are continuing, but the banks have slowed and managed the process a bit to keep the government off their backs. That’s the bad news. The good news is that a recent Supreme Court ruling has provided homeowners with a silver bullet that could stop a foreclosure in its tracks! As spelled out in a January ruling by the Supreme Court, a homeowner’s right to rescind their... Read More >>


Following Up!
By Michael Vazquez
Michael VazquezAnytime real estate investors get together the question immediately asked is, “How is your buying/contracting going?” What they are asking is do you have a good amount of leads coming in, where are those leads coming from and are those leads any good. Of course, mostly everyone says they are doing great. Personally, I like to “keep it real.” If leads are low I admit it because I know that they will eventually come in. Meanwhile, I continue working and following up with all the leads in the pipeline. The follow up is what keeps a real estate business, or... Read More >>