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The Profit May 2015

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The Profit May 2015 Articles

Become A Published Best Selling Author And Be Seen In The Major Media Within 90 Days
By TC Bradley
TC BradleyI first went online in 2003 and my first website sold over a million dollars of product. At one time, we were one of the most top ranked websites in the world. We actually had more traffic going to our website than Oprah had going to her website. (For you internet geeks out there, our Alexa ranking was a hair under 10,000 at the time) Marketing has changed dramatically since those days. It is no longer good enough to be "found on Google." Your competitors are there too. Today, more than ever, people have a choice of who they choose... Read More >>

By Michael Vazquez
Michael VazquezIn many markets, properties are receiving multiple offers within days of being listed. This includes retail listings, foreclosures, short sales, etc. As long as the list price is remotely reasonable the properties are going into highest and best. This is not an ideal situation for investors because it means they may need to pay a higher price to be competitive. This can also be true for unlisted properties because all buyers, including retail buyers, are looking everywhere for their next purchase. A solution to this problem can be solved by using wholetailing. What is wholetailing? It is selling a home... Read More >>

You May Be Able To Wipe Out Virtually Any Mortgage!
By Bob Massey
Bob MasseyThat sounds too good to be true! Guess who made this possible… The Supreme Court of the United States (SCOTUS)! There is a shockwave moving through the mortgage industry caused by a unanimous SCOTUS ruling in January. The court settled once and for all exactly what a borrower’s Right of Rescission is, and what latitude the courts have when dealing with it. The content of that ruling is a major win for homeowners and real estate investors alike, but what exactly does it mean for you and your business? First let’s begin with what the Right of Rescission is. It... Read More >>

Real Estate at 10,000 Feet Up
By Bill Ham
Bill HamI will never forget my first business/real estate mentor. I was set to taxi the plane out to the runway on a flight to Carrabelle Florida. My passenger for the day was a wealthy real estate investor and developer. I was flying him to FL for the afternoon because he was in the middle of developing a new condominium community on a prime piece of water front real estate that I had watched him negotiate and purchase a few weeks prior on a separate trip that I flew him to Florida for. At this point my real estate career didn’t... Read More >>

Recovery Showing Up In Tax Values
By Mark Jackson
Mark JacksonAs investors we have to watch numerous indicators to insure we make a profit when we buy. Knowing the value of a property is extremely important. Today the adjustment in property tax values is for once a viable market indicator. 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. Property values nationwide continue to rebound, according to numerous local and national reports. The taxable value of... Read More >>

The Best Markets for Real Estate IRA Investors
By Jim Hitt
Jim HittIn the real estate world, it’s all about income. Real estate IRA veterans know that if prices get too far ahead of rents, driving gross yields down, bad things happen. You don’t want to get caught up in the next bubble, trying to sell over appreciated real estate to some greater fool. Any time your entire investment thesis for residential real estate relies on future price appreciation without regard to income generated, you are on hazardous footing. Smart real estate investors, then, try to maximize their yields on investment – that is, the amount of cash that comes in as... Read More >>

Bona Fide Buyer or Broke & Busted?
By Kimberlee Frank
Kimberlee FrankMany Buyers start house shopping without even knowing the price range in which they are qualified. At Sell Fast Realty, our company policy is that the Buyer must be pre-qualified by a Mortgage Lender and has already submitted all their financial documents so their debt to income ratio can direct them to the correct price range of homes. I get a lot of Buyers who have no idea if they can qualify for the price of the home that they want to buy. My Mentor Students and I use my Buyer information sheet to pre-qualify all of our Buyers. Are... Read More >>

The Way You Spend Your Money Can Make a Huge Difference Creating Your Real Estate Wealth - Part 2
By Larry Harbolt
Larry HarboltThe real beauty of owning rental property when the seller will allow you to pay them directly every month allows you to collect rent from each rental property you buy to pay for those properties. The key to make this strategy work is to buy each income property so a tenant who will be renting the property will pay enough rent each month to cover 1/12th of the annual property taxes, 1/12th of the annual property insurance cost and at least 10% to 15% of the monthly rental income to cover the cost of the maintenance for that property when... Read More >>

See It and Believe It
By Don DeRosa
Don DeRosa“Reality is merely an illusion, albeit a very persistent one.” ~ Albert Einstein About a year ago, British Airways created an amazing billboard and put it near an airport. When an airplane would take off at the airport, the billboard would detect it. On the billboard, a little kid would follow the plane, pointing at it, until he ran past the end of the screen. When the plane was gone, he would run back into view. The billboard actually interacted with the world outside. How did they do that? I have no idea. If you’ve seen that billboard video, you’ve... Read More >>

Diversifying Your Business With Multiple Streams of Income
By Kathy Kennebrook
Kathy KennebrookOne of the best ways I know of to grow personal wealth is by creating multiple streams of income in your life and in your business. In an uncertain economy, it is important not to place “all your eggs in one basket.” In order to protect your income long term you need to consider diversifying your investments so whether in a bad economy or a good economy you still have income from some of your investments. As a real estate entrepreneur, there are several ways for you to accomplish this goal. One way to create multiple streams of income has... Read More >>

Builders – An Excellent Source Of Buyers To Have On Hand
By Frank Iglesias
Frank IglesiasWe always hear how it is important to get a solid Buyers list whether large or small but ultimately of people that can perform. One such Buyer that is relatively untapped for wholesalers are Builders. These are in many ways some of my favorite Buyers because they can oftentimes pay higher prices than investor Buyers who have to hire them. Let’s take a look at why this is: Builders can choose whether or not to pay themselves during a build process. If they choose just to get paid on the end profit, this averages a savings of 15-20% that an... Read More >>

Customize QuickBooks’ Reports, Make Better Business Decisions
By Karen Bershad
Karen BershadQuickBooks simplifies and speeds up your daily accounting work, but you’re missing out on valuable insight if you don’t tailor your report data. Do you remember why you started using QuickBooks? You may have simply wanted to produce sales forms and record payments electronically. Gradually, you expanded your use of the software, perhaps paying and tracking bills through it and keeping an eagle eye on your inventory levels. Certainly, you’ve run at least some of the pre-built report templates offered by all versions of QuickBooks since their inception. QuickBooks’ automation of your daily bookkeeping tasks has undoubtedly served you well.... Read More >>

Empower Yourself: Know Your Assets
By Russ Hiner
Russ HinerPeople often ask me, “Russ, how do you stay so motivated, confident, and upbeat?” My answer? I know my assets, and I make sure that I have more assets than liabilities. Do you know your assets? Knowing your assets will allow you to assess whether or not you are heading in the right direction. It will show you if you are winning or losing. I like to know what my assets are because it builds my self-esteem and feeds my ego. There is nothing like a good ego boost! Here are the 4 types of assets: Physical/ Money Community Education/... Read More >>

Operating Your Business Of Buying And Selling Houses With $1,000 Per Month Or Less
By Ron LeGrand
Ron LeGrandThere are certain expenses a real estate entrepreneur will have in the business, and the more it ramps up, the more these expenses will increase along with revenue. Fortunately for us, our overhead is extremely small. And when I say extremely, let me do a few comparisons for you: When my restaurant was open, my break-even was approximately $100,000 per month. That’s just what it took to keep the doors open, including all the costs inherent in a restaurant and most other businesses like labor, insurance, utilities, product, etc. The food alone was $.40 of every dollar that came through... Read More >>

Wholesaling vs. Lease Options (aka Ugly vs. Pretty) - Part 3
By Tony Pearl
Tony PearlWelcome back...again! Quick refresher: We’ve been discussing two classic & powerful, tried & true real estate investing strategies: Wholesaling and Lease Options, aka “Ugly” vs. “Pretty”. Part One of this series was devoted to Wholesaling, and Part Two was focused on Lease Options. Examples were given. Terms discussed. Money put on the table. Moving on... Whenever a ‘newby’ investor asks me where they should start, I usually tell them that wholesaling is a great way to earn some great money while learning the business, so they should consider starting there. After a while, and when their marketing starts generating leads... Read More >>

How to Make a Written Offer
By Bill Cook
Bill CookLast Saturday, I took thirteen real estate investors from the Chattanooga Real Estate Investors Association door-knocking. Before heading out, we discussed how to make a written offer to a seller. The group had a number of questions: 1) How do I find a property’s fair market value? 2) How do I discover market rents in the area? 3) How do I make a written offer right there on the spot? The first thing to remember is that an offer is different from a purchase contract. A purchase contract is often a formal document written in legalese that no one –... Read More >>