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The Profit July 2016

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The Profit July 2016 Articles

Options: The Safest & Cheapest Way To Control Real Estate
By Bill Cook
Bill CookLong ago, Kim and I learned that options are an incredibly powerful deal-structuring tool that allows you to control lots of real estate for little or no money…and with very little risk! And here’s the best part: Because so few know anything about options, you have almost no competition! Simply put, if you are not using options as one of your primary real estate investing tools, then you’re leaving a lot of money and opportunity on the table. When most folks hear the word “option,” they automatically think lease-options. While lease-options are fairly popular, they are just the tip of... Read More >>


Forget Ownership, Just Control A Property And Make Money!
By Larry Harbolt
Larry HarboltAre You Afraid To Buy A Property Because You Can’t Qualify For A Loan Or You Have Less Than Good Credit? Today I had an interesting conversation with one of my Advanced Life-Line students who confessed that he continues to have great anxiety and fears making an offer to buy a property even if it would be a good deal for him. He always hesitates pulling the trigger and submitting his offers because of his fears. He is really missing out on creating an income stream he really needs as well as being able to create wealth over time. Being... Read More >>


Benefits and Types of Passive Investing
By Mark Jackson
Mark JacksonSome people avoid investing in properties due to the amount of time and energy it takes. REIA comps is a great resource to assist you in researching and deciding on a property. After your purchase of a potential property you need to actively care for your investment either by becoming a landlord or managing the property. Real estate investment can be time consuming yet rewarding, and the question is asked, how many properties can one person manage at one time? This is why investors who are looking at diversifying with real estate participate in passive real estate investing. Passive real... Read More >>


Still Crushing Short Sales!
By Kimberlee Frank
Kimberlee FrankMany Investors don’t think that they can short sale an FHA loan and still make a profit, due to the guideline that FHA accepts a minimum 88% of the appraised value. I am here to tell you about an FHA deal that will bring a Pretty Profit!! This house is a 3 Bed/1.5 Bath/1.5 car garage, approximately 1200 sq ft in Casselberry. From the beginning, it was challenging since we had non-paying tenants in the home that were not as cooperative as a Seller would be for access to the property. The best part of a typical short sale is... Read More >>


Time is on my Side: Hiring VA Professionals on Upwork
By Don DeRosa
Don DeRosa“I like to talk to people. I've got one assistant, one Blackberry. That's my overhead. I don't text that much or email. I like to sit down face-to-face and have a conversation with you. I'm old-fashioned.” ~ Mark Wahlberg As the owner and operator of my own business, I’ve become very self-reliant. I know that if I don’t take care of important tasks myself I will stress over them. It is hard to delegate work to others that you haven’t really had the time or know how to run background checks on. Even when you have carefully planned projects, sometimes... Read More >>


The Master Lease Option Series – Part 5: Common Mistakes Using Master Lease Options
By Bill Ham
Bill HamI have made a ton of mistakes over the last 10 years of doing master lease options (MLO) deals. Would you like to avoid those mistakes? Well then read on! A MLO Deal Is Not About You- One of the first and biggest mistakes I have made using MLOs is to think about what I want and not to give enough consideration to what the seller wants and what the property needs. Your first step in making a MLO offer is to decide if it is a fit for the seller and property. You need to find out if the... Read More >>


Using Realtors To Find Leads For Your Real Estate Investing Business
By Kathy Kennebrook
Kathy KennebrookThere are several ways to use a Realtor to help you find good quality leads for your real estate investing business. If you have not already added a good Realtor or Realtors as a part of your real estate investing dream team, now would be a good time to do so. There are many types of leads your Realtor can generate for you so let’s discuss them one at a time. The first service your Realtor should provide for you as a real estate investor is to e-mail you the expired listings on a regular basis. You will need to... Read More >>


Securitization: A Refresher on The Biggest Fraud in American History
By Bob Massey
Bob MasseyI’ve been writing this column for several years now, and I’ve covered a lot of in-depth information about the securitization swindle pulled by the major banks that led to the mortgage crisis and the Great Recession. What I’m going to do this month is to take a step back and give a quick recap of what the securitized loans scam is and how the banks got away with it for so long. First a little background. The way a bond is supposed to work is that an investor purchases a bond from a trust. The trust then uses this money... Read More >>


Four Reasons Real Estate IRAs Might Be Right For You
By Jim Hitt
Jim HittWhen you think about the acronym “IRA,” what do you think about? For most people, it’s a very common recipe: an IRA is something in which you put your mutual funds, your bonds, your stocks…and very little else. It’s the beaten path to retirement, and it works for a lot of people. But others wonder if there aren’t ways to supplement this type of investment and ensure a consistent level of income for your retirement years. These are the kinds of people who start to research Real Estate IRAs. If that sounds too complicated for you, just remember: the IRS... Read More >>


How To Build Credibility With Buyers - Part 2
By Frank Iglesias
Frank IglesiasLast month, we started by talking about a couple of basics that are an easy way to start setting yourself up for success with Buyers. Step 1 was Confidence and Step 2 was having an Online Presence. Both of these steps are key because people make first impressions as fast as you blink your eye these days. How you present yourself as an individual first is paramount. People do business with people they know, like and trust. The first two steps address this directly. Let’s continue with the next steps: Step 3: Have a Real Deal It may sound counterintuitive... Read More >>


Properly Analyzing Potential Property Purchases
By Russ Hiner
Russ HinerWhen I was going through a divorce I had no idea what to do. I was negotiating blind. I did not know what would be an equitable split. I had nowhere to look to find the answers either. The divorce attorney was not much help because they were more interested in keeping the chaos going rather than moving toward clarity. There were many variables including alimony, child support, the marital house, insurance coverage for the children, Custody rights, retirement benefits, the value on her business and mine, saving account, Christmas ornaments and the photos/ videos tapes of the family. The... Read More >>


Rehab Execution Is Key
By Michael Vazquez
Michael VazquezReal estate investing is easy once you have an idea of what you are doing but there are many moving parts. The one gear that can make or break a real estate investment project is the execution of the renovation. You could have bought the property for the right price, this is where you make your money, but not properly executing a renovation can kill all the hard work done upfront. Before I learned how to contract properties, wholesale and/or invest, I knew the cost of construction and materials. I was into DIY before it was mainstream. At first it... Read More >>


Make QuickBooks Your Own: Specify Your Preferences
By Karen Bershad
Karen BershadYour business is unique. Make sure that QuickBooks knows how you operate. QuickBooks was designed to be used by millions of businesses. In fact, it’s possible to install it, answer a few questions about your company, and start working right away. However, we strongly suggest you take the time to specify your Preferences. QuickBooks devotes a whole screen to this customization process. You can find it by opening the Edit menu and selecting Preferences. Figure 1: The My Preferences window in QuickBooks’ Preferences This is the screen you’ll see when you go to Edit | Preferences in QuickBooks. You can... Read More >>


Land and Lot Transactions Are More Complex
By Deborah Harris
Deborah HarrisLand and lots just sat on the market for years during the last economic down turn and now are a hot commodity on this hot market. What most people do not realize is that land is a much more complex transaction. PROPERTY How large is the property? Typically a lot is sold with an individual price for the entire parcel. Larger tracts are often sold at a price per acre times the number of acres. Properties in downtown areas with high density zoning are sold by the square foot, so a couple of inches will change the price. ZONING First,... Read More >>