The Profit March 2017
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The Profit March 2017 Articles
Turning "No's" Into Dough… REACT!
By Jon Iannotti
A little history. Back in 2007-2008, not only did the Real Estate market change, but so did our entire economy. With the near total melt down of our economy, Real Estate took a huge hit. The Banking/Lending industry all but shut down making mortgage loans. This made it very difficult for us to do business. Up to this point we were doing just about every creative technique out there for they were all working. We were doing Subject To, Lease/Options, Private Money, Rehabbing, REO’s, Wholesaling, Wholetaling, Commercial, Building Spec Homes, etc. Lending was way too loose, but that was what... Read More >>
What Do Dollars Have to Do With Value?
By Larry Harbolt
Value is subjective to each party of any real estate deal and value doesn't have to be determined in dollars. Today people have been taught that the dollar is the only way to determine value. Let me give you an example of what I mean. When you go to the grocery store and go through the checkout lane with your chosen product that costs nine dollars, you give the clerk a twenty dollar bill; you are expecting eleven dollars in change back. This is what people today have been taught how to determine value, in dollars. Dollars don’t have to... Read More >>
Mentors are for Millionaire Minds
By Kimberlee Frank
When I first started in real estate, I spent over $250,000 flying all around the world attending boot camp after boot camp, learning all the different ways I could get involved in creatively buying, selling and holding real estate. It seemed like it was always the same group of people flying around the world with me and taking the same training. The only difference I noticed was that many of the people who had attended these trainings had never even made an offer on a property. They never used the knowledge that they received and just kept on going to... Read More >>
Analyzing the Markets
By Mark Jackson
When you are looking to make offers, remember your obligation is to the most important person in your company; the shareholder. Most often, the shareholder is you. Have your list of what a profitable deal looks like, armed with your REIA Comps information and some courage your list can be successful. The key to meeting your goals and having your success as an investor is a thorough understanding of VALUE. Understanding the value of a potential investment property is the basis for profits. Taking stock in the real estate market and learning how to properly analyze the market is paramount. ... Read More >>
Home Office on the Road: Automatic Pro App Review
By Don DeRosa
“My system for staying young is to work a lot, to always have a project on the go.” ~ Carlos Fuentes Before insurance companies started offering plug in cameras designed to improve your driving and lower your rates there was already an industry standard port. The ODB-II port is existing technology standard in most every car produced after 1996. Automatic uses this existing port, at first it would connect to a bluetooth device and was only good for reducing your gas waste habits. Hard stops and other things would be flagged and brought to your attention. The second iteration of... Read More >>
Creating a Money Machine That Will Allow Me to Buy Houses With Private Money
By Russ Hiner
Last month I wrote about beginner’s rules and the first presentation a person could do when looking to raise capital. I talked about the mistakes that I made early on. I just changed the names to protect the innocent, me. I want you to think about being able to raise private money from local sources, business people, retirees, and people who have money sitting in banks or accounts that are barely earning them a .01% rate of return. If you are one of those people, then we need to talk. So, picture yourself walking up to people and building a... Read More >>
Stop Assuming People Will Not Take Your Offer Or Counter!
By Frank Iglesias
This is probably the biggest tip I tell wholesalers all the time. When you are interested in a property, make the offer! That’s it! It’s such a simple tip. See property, have interest in it. Make an offer. Yet for reasons continually inexplicable to me, too many investors simply don’t make the offer! I recently sold a deal that I got seven offers on within 24 hours. The irony is I had it at a higher price in purpose for a test I was running and no one offered on it. When I lowered the price, all of sudden everyone... Read More >>
Two Pay Checks Away From Being Broke
By Bill Cook
Sure, there are reasons – good reasons – to not own rental property: tenants, vacancies and repairs, to name three. But have you ever spent time thinking why owning investment real estate might be a good idea? Last year, my father-in-law was rushed to the hospital with what doctors thought was a massive stroke. When the ambulance arrived, he was taken directly to ICU where a ventilator was inserted, and to prevent further injury, he was given medicine to induce a coma. Kim and I had to live at the hospital for several weeks. Gotta tell you, an ICU’s waiting... Read More >>
5 QuickBooks Online Add-On Apps You May Need in 2017
By Karen Bershad
Not finding quite everything you need in QuickBooks Online? Here are some handy add-on apps available. QuickBooks Online may work for you just fine as is. After all, it was designed to meet the needs of the millions of small businesses that want to manage and track their income and expenses, create records and transactions, and run reports to gauge their financial health. QuickBooks Online was also designed to grow along with your business. But there’s no need for Intuit to add internal features to do so. In fact, that would make it too expensive and unwieldy for many companies.... Read More >>
You Get What You Accept
By Michael Vazquez
If you ask my investors, private lenders, contractors, buyers, sellers, friends etc. to describe me, which I did, they will all tell you that I am easy to work with, a nice guy, dependable, hardworking and focused/ determined. These were the most common replies. To be honest I was a bit surprised. I expected the hardworking, dependable and focused, I was happy to hear nice guy but easy to work with was not on my radar. Easy to work with was not something I would have used to describe myself so I decided to investigate. When I partner with other... Read More >>
Following Up with Motivated Sellers Can Make You Millions
By Kathy Kennebrook
Let me ask you a question… Are you properly managing your prospects? Are you taking the time to follow up with the sellers who didn’t initially accept your offers, or the sellers you still need to make offers to? Did you know that you are leaving thousands of dollars in potential income behind if you aren’t following up with sellers? One of the easiest ways to make a fortune in the real estate business and gain the advantage over your competition is to take the time to follow up with motivated and semi-motivated sellers. You’ve already got the seller in... Read More >>
How To Own Real Estate In Your Self-Directed IRA
By Jim Hitt
Decade after decade, it seems like real estate keeps coming through. While any asset class can have a down year – or even several down years in a row, as the real estate investment community saw between 2008 and 2010 – real estate remains a proven long term wealth generator year after year, decade after decade, and generation after generation. That’s what makes real estate an ideal investment for your retirement portfolio – and even in a special kind of IRA, called a self-directed IRA. Some people still believe the myth that IRAs don’t allow you to own real estate.... Read More >>
Pricing Properties Correctly - You Cannot Underprice a Property
By Deborah Harris
The Residential Market in Atlanta is HOT! This is evidenced by the rapid quantity of homes that are flying off the market in a matter of days, providing they are in proper condition and priced correctly. A Seller's Market occurs when the number of properties available for sale divided by average monthly sales to calculate how long it would take to sell the current inventory if no other properties were listed – when that number equals 6 months or less, a Seller's Market exists. Our metro Atlanta market became a Seller's Market during 2012 resulting in several changes benefitting sellers,... Read More >>
The Less You SAY The More You Make: How To Get Rich by Keeping Your Big Mouth Shut!
By Tony Pearl
“Blah, blah, blah!” That’s what we hear when most people talk. And sometimes that’s what other people hear when WE talk, too. Have you ever noticed that most people think of what they’re going to say, rather than listen to the person who is talking? But when it comes to negotiating, that can be a HUGE mistake! Here’s why... Let’s say you’re talking to a seller about their house, and when you ask them to describe their situation, they just seem to go on & on about how wonderful the house is, the gossip about the neighbor, how their health... Read More >>
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