The Profit June 2015
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The Profit June 2015 Articles
Why Ignore Profits in the Note Business, When You Are Already in It?
By Eddie Speed
Most real estate investors have heard of the “Note Business” but many misunderstand it while others think that it is completely separate from the real estate business. The fact is, most real estate investors are in the note business, and they just don’t know it. The note business is the financing side of the real estate business. Note Business in the Simplest Terms The note business is based upon the purchase, sale and assigning of two documents: the promissory note and the mortgage agreement. These two documents represent a promise to pay and a solution for non-payment. Note = Promissory... Read More >>
Preventing Data Theft in QuickBooks
By Karen Bershad
Be proactive about the security of your QuickBooks company file, and you'll be less likely to encounter data theft. Thanks to the internet, privacy has been on the wane over the last few years. We assume that our addresses and phone numbers are public information, thanks to sites like Switchboard and 411.com. We hope that our dates of birth are private (though the number of birthday wishes on Facebook makes that doubtful), and we assume that our Social Security numbers are hard to get. Your customers/tenants trust you enough to provide you with additional private information, like credit card numbers,... Read More >>
Foreclosure Activity Drops?
By Mark Jackson
There has never been a foreclosed house which didn’t have potential profit written all over it. Today, several indicators including the firm RealtyTrac have released 1str Quarter 2015 data which shows foreclosure filings and default notices, scheduled auctions and bank repossessions are down over 5% from the prior Quarter over 2014 and are the lowest since 2007. Knowing the true value of real estate is critical, try to do a deal without it and see. The guidance and data within REIAComps has consistently shown investors how to determine both solid acquisition value and after repair value to earn lasting profits.... Read More >>
Valuable Partners
By Bill Ham
Partners can really make or break your business. Finding good ones is easier said than done. How do you find or attract the right partners? How do you know when the right person comes along? Will they want to partner with you and what should you offer them when they do want to partner with you? These are questions I get asked all the time. Here are some ideas about partnering in real estate but this article is not about the legal structuring side of partnerships, it’s about the people side. A good partnership starts with equal but opposite skills,... Read More >>
Ugly is the New Pretty
By Tony Pearl
Warm weather is finally upon us! Time to get ready for those Summer vacations - trips to the beach, cookouts, swimming, boating, golf, tennis, and everything else that we love to do outside when the weather is warm. Of course, if you live in the South, Southern California, or a place like Phoenix, you're used to having nice weather all year 'round. And I hate you. :) But if you're like me, and live in a place where you get all four seasons (yay), you can appreciate how the change in weather can also trigger a change in perspective. Long... Read More >>
Get Huge Response Rates And Locate More Motivated Sellers Using Lumpy Mail
By Kathy Kennebrook
One way a lot of real estate investors use lumpy mail is when they are working the pre-foreclosure market. These people are getting stacks of mail and post cards every day from mortgage companies, attorneys and other investors. There is a lot of competition for these properties so you need to do something to make your mail stand out and look different from the others so it gets opened first. Since there are fewer foreclosures these days getting noticed is even more important to your success. There are several ways to do this. One is to simply insert something into... Read More >>
It’s Time to Get Your Money Machine Started TODAY!
By Larry Harbolt
Recently a friend of mine sent me a chart created by the United States census bureau showing the numbers of home ownership from 1965 until 2015. Amazingly the number of home ownership in 2015 was almost exactly the same as it was in 1965. I found this very interesting because throughout all of those years between 1965 and 2015 homeownership escalated slowly until 2006 when the real estate market crash took place because of all the defaulting loans. As house prices dramatically declined people felt their homes were worth less than what they owed so many people quit making their... Read More >>
Keeping Up With Your Deal
By Frank Iglesias
Picture this familiar story: You go to a real estate meeting and meet a Buyer looking for property. Ecstatically, you immediately add them to your Buyers list which they fully expect. Within the next week or two, you get a deal and send it to them via your Buyers list. A day later or perhaps only a few hours, you get a phone call from the Buyer (let’s call them Bob) and it goes something like this: You: Good afternoon Bob, how are you? Bob: Doing well, yourself? You: Doing well. How can I help you? Bob: Well I got... Read More >>
How Do We Fund Our Deals?
By Bill Cook
Since we don’t use banks, how do we fund our deals? Do banks have money to lend? Think carefully – this could be a trick question! Don’t banks “borrow” the money they lend from their depositors? And why do depositors keep their money in the bank? Because it’s the safest place to keep it, right? But is it really? What interest rate is your bank paying on savings these days – 0.3%? And what is the current rate of inflation…something like 4%? Here’s a broad-brush picture to help you understand what’s really happening. You put $10,000 in the bank earning... Read More >>
The Banks and You
By Russ Hiner
Here is some news that might surprise you… banks and hedge funds can actually make your business stronger, especially if you own property. I can say this with confidence because I’ve been in this business for a long time, and I want to share with you what I know about the relationship between you and the banks: Banks: Right now, banks are holding the prices up artificially, meaning that values are rising. Banks are pushing the limits of pricing. They are getting data on the best-selling styles, features, and geographic areas. They know which houses sell and rent the fastest.... Read More >>
Real Estate IRA Update: Friendliest States for Landlords
By Jim Hitt
All men are created equal. But not all states, as far as Real Estate IRA investors are concerned. This is especially true for those who hold rental property in their Real Estate IRAs. Naturally, every state tries to strike a balance between the rights of renters to privacy and stability and the property rights of landowners. And some states strike that balance in a way that is much friendlier to landlords than others. The key issues are each states’ landlord-tenant laws, bankruptcy protection measures and overall friendliness to debtors vs. creditors, and property tax levels. Arkansas Arkansas is the only... 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 1
By Ron LeGrand
“Would you like to buy a home of your own, but don’t have the big down payment or credit?” Real estate is a vehicle that cannot only provide you big checks within a few days but also a monthly residual income and a big backend payday. It can retire you so you’ll never have to worry about what the government will pay you when you become a senior and don’t want to work anymore, and the best part is you can make a lot of the money tax-free using your Roth IRA. The problem is most people believe it takes... Read More >>
The Window To Wipe Out Your Mortgage Could Be Closing!
By Bob Massey
In my last article I told you how you might be able to wipe out virtually any mortgage through a TILA rescission. The idea of rescinding a loan using the Truth in Lending Act had been around for a while, but its viability in court was completely dependent upon the whims and prejudices of the individual judges hearing the cases. Well, the Supreme Court of the United States cleared all of that up with a unanimous decision that has cleared the way for TILA rescissions. As I explained last month, the opportunity is HUGE, but could our window be closing?... Read More >>
Scary Websites
By Don DeRosa
“Currently computer graphics are used a great deal, but it can be excessive.”~ Hayao Miyazaki The other day, I was web-surfing while I waited for a program to download, and I came across a site that really caught my attention. In the upper right-hand corner, a big Jolly Roger pirate flag was waving. In the upper left-hand corner was a little animated dancing hamster. A tiny cartoon kitten ran across the bottom of the screen, and in the middle of the page fireworks burst out in an infinite loop. Then suddenly, my iPad started blasting "Whole Lotta Love" by Led... Read More >>
Thick Skin in Real Estate
By Michael Vazquez
Many people get into real estate, a few succeed, and others decide real estate is not for them. There are many roles a person can take on in real estate but being an investor requires the thickest skin. An investor faces rejection daily, is essentially profiting from other’s misfortune, and depending on the level of the investor, can be risking thousands of dollars. As an investor, rejection sometimes comes as a simple NO and other times it comes with plenty of four letter words. Why does this happen? Well, you are or should be attempting to negotiate a purchase price... Read More >>
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