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The Profit June 2017

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The Profit June 2017 Articles

Get Started in Real Estate Investing Without $$$
By David Tilney
David TilneyIf you’d like to invest in real estate, but you can’t afford to buy property – don’t despair! Think about renting from owners who are saddled with ‘inconvenient property’ and negotiating the right to sub-lease their property to others. This is Master Leasing - the leasing of a property from an owner and then sub-leasing that same property to a tenant. I believe Master Leasing is the most economical way to get started in the real estate business today. It is a way to produce an immediate income stream without large amounts of capital. Master leasing is an incredible tool,... Read More >>


Building Your Personal Credibility Kit - Part 3
By Kathy Kennebrook
Kathy KennebrookI also like to use my personal Credibility Kit to find more private lenders for my Real Estate Investing Business. You already have all the information about yourself and your company and deals you have done in one place to show your potential lenders. Looking through your Credibility Kit leaves no doubt in a lender’s mind that they will be making a good investment in you and your properties. Plus, you have references available if they would like to see them and follow up with any of them. I also give my potential lenders an abridged copy of my Credibility... Read More >>


Buying at the Foreclosure Auction
By Bill Cook
Bill CookFrom 2013 through 2016, Kim and I have rarely been the high bidders on a property at the foreclosure auction.  Why the dry spell?  Because the cheese has moved!  For example, from 2007 through 2009, the best deals were found buying short sales.  From 2010 through 2012, the best deals were found buying at the foreclosure auction.  From 2013 through 2016, the best deals have been found by buying pre-foreclosures.  Remember, the cheese is always moving.  To be successful, you can’t keep going back to where the cheese was – you must go to where it is today! Here are... Read More >>


Less Competition with Short Sales
By Kimberlee Frank
Kimberlee FrankMany Investors avoid working with Sellers in pre-foreclosure or making offers on short sales.  They all say the same thing, it takes too long!  I strongly disagree with this decision.  I have been working on short sales for years now and even though it does take a few months, it has been the best deal spread in profit that I have ever received on any type of deal.  Let me tell you why you should consider working with Sellers in pre-foreclosure and making offers on short sales.  The Pre-foreclosure market will continue to flourish due to the adjustable rate mortgages,... Read More >>


Getting Prepared To Make Your First "Ask For The Money" Presentation
By Russ Hiner
Russ HinerIt is about time that you are making your very first “get the money” presentation. I am not going to tell you much about my first presentation for money, since it was so long ago. I think I was 3 years old and wanted some candy. I am sure it did not turn out very well. I think I did the presentation in front of the wrong audience and I was not very professional. My ‘ask” presentations have gotten much better especially since I know how to effectively raise capital today and every day. How can you get prepared to... Read More >>


Three Eviction Mistakes Real Estate IRA Owners Make
By Jim Hitt
Jim HittIf you invest in residential rental property in your real estate IRA for any significant length of time, sooner or later you will probably need to consider evicting a tenant. There are several possible reasons you may need to evict someone: The most common, by far, is the non-payment of rent. Other common reasons include drug or other criminal activity or material violation of lease terms. Sometimes you can resolve these issues painlessly, by giving the tenant a little extra time, or by sending a notice to cure or quit the premises. But when these measures don’t work, a real... Read More >>


The Carrot? Or the Stick? Which Do THEY Prefer? - Part 2
By Tony Pearl
Tony PearlIn Part One of this article, we discussed YOU and why you do the things you do. Specifically, we talked about WHY people do or don’t do things for two primary reasons: To gain pleasure or to avoid pain. This is also known as the Carrot or the Stick - the carrot is something good that we want, while the stick represents the pain we don’t want. We also mentioned a few common things that most people in this world want/desire, like love, money, and good health as well as a few things that most people don’t want/are afraid of,... Read More >>


The Question No One Asked - Part 2
By Jonathan Henrich
Jonathan HenrichI know last month’s article was a little depressing but it was important and here’s why: We take daily actions in pursuit of a better life, to move away from pain and towards happiness, while the underlying emotions of fear and greed drive us. It is within these actions that we should investigate and become aware of their effects. The “better life” has a price and that price is unknown. The “better life” is culturally conditioned.   I remember one time when I was a kid I was grounded for the day, and I sat at my window staring out with... Read More >>


Are You Looking For a Good Laugh?
By Larry Harbolt
Larry HarboltWatch the Fix and Flip Wholesale Shows on Television Just Don’t Believe Their Numbers, Time Frames to Complete the Rehabs and Their Repair Costs Recently while surfing channels on my television I came across two real estate fix and flip shows that caught my attention. I watched each of these shows and as I watched it took all of my strength to not turn the channel in disgust. I couldn’t believe the incompetence of the people doing the shows. One of the shows was filmed in Orlando Florida and the other was filmed in Las Vegas. I love a good... Read More >>


Foreclosures on the Move?
By Mark Jackson
Mark JacksonThere 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 1st Quarter 2017 data which shows foreclosure filings and default notices, scheduled auctions and bank repossessions are down over 5% from the prior Qtr, over 2016 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 >>


Capitalization Rate Explained
By Deborah Harris
Deborah HarrisEvery time I mention a capitalization rate to a group of learning based, future investors, I get this blank deer in the headlights’ look (not that I have stared many deer in the face). So I decided to simplify the meaning and amplify the importance. The capitalization rate(R) is the rate of return used to estimate the property’s value based on that property’s net operating income. Often called a Cap Rate (Rate), it is the method for determining the attractiveness of the investment for the potential purchaser. First one needs to understand net operating income (NOI). The net operating income... Read More >>


Where's the Money?
By Michael Vazquez
Michael VazquezThe first thing you may have learned when you became interested in real estate investing was either the concept of other people’s money (OPM) and/or leveraging. These are key concepts to learn early so you can invest and grow faster. However, not many people show you how to find money and if you find money, how to leverage it. There are many ways to go about finding money for your real estate investments. The easiest and guaranteed way that I know how to find money to fund real estate deals is to have solid deals. While wholesalers and some investors... Read More >>


Your First Hour with QuickBooks Online
By Karen Bershad
Karen BershadWhether you’re just launching a business or you’re going online with an existing company, take some time to get acquainted with QuickBooks Online. Your first hour with any web-based application is probably spent exploring and clicking buttons, links, and other navigation tools to get the lay of the land. QuickBooks Online should be no different. In fact, it’s even more important to take it slow when you’re using an accounting solution. If you start entering data without understanding how everything works together, you may make mistakes early on that will be difficult to undo down the road.  Simple Setup If... Read More >>


What is Massive Action?
By Frank Iglesias
Frank IglesiasI recently read a book by Grant Cardone called the 10x rule. I am rereading it again now because it made such a strong impact. I highly recommend as soon as you are done reading this article, you buy it immediately. I do not get any kind of credit for it. It’s simply a must read for investors, in particular wholesalers. Wholesaling is a massive action business. It takes massive action to keep the lead funnel going which is what powers the entire business. In his book, Grant talks about four levels of action to give clarity as to what... Read More >>


Life on Your Time: Life360 App Review
By Don DeRosa
Don DeRosa“The one thing that unites all human beings, regardless of age, gender, religion, economic status, or ethnic background, is that, deep down inside, we all believe that we are above-average drivers.” ~  Dave Barry Life360 is an app I can’t imagine life without. I have a 16 year old driver in my family and it gives me some peace of mind knowing I can keep tabs on his miles per hour, hard breaks, even his phone useage. It will even contact me in the event of an emergency like an accident or a break down. I believe this is a... Read More >>