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The Profit May 2016

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The Profit May 2016 Articles

How to Take Your Investing Game to the Next Level
By Paul Rossano
Paul RossanoWith a degree in finance and over 15 years of experience investing in real estate, I thought I knew how to structure my cash flowing investment deals correctly, but I didn’t, and chances are, neither do you. Most investors know how to calculate returns, but very few understand how to quantify and minimize the risk in their deals, which can (and usually does) destroy their chances of creating long term success. I was one of the many investors (99% in fact) who thought I knew how to structure my deals correctly when I actually did not. Then I discovered The... Read More >>


Leads, Leads and More Leads!
By Michael Vazquez
Michael VazquezLeads, leads and more leads. No matter if you plan to wholesale, fix and flip, fix and rent, subject-to, owner finance or anything else involving real estate you must have leads. Some may agree with this statement and some may disagree but any time I needed anything in real estate, it was resolved by simply finding a great lead/deal. I have heard investors and newbies alike say that they need to find financing or private money before finding a deal. While financing is important it cannot be put to work without a deal. I would argue that it is easier... Read More >>


Tips and Strategies for Getting the Most Out of Your Real Estate IRA
By Jim Hitt
Jim HittIf you want to get the most out of your retirement, we have three words for you: knowledge is power. No, we’re not talking about any sort of “inside” knowledge when it comes to investing, or any sort of illegal tips and tricks. We’re talking about real investing knowledge: knowledge about the different types of accounts and investments you have available to you, and how to use those accounts and investments to the best of your ability. And one of the most important things for people to learn is how to use their Real Estate IRA in the best way... Read More >>


Are You Following Up or Tripping Up?
By Kimberlee Frank
Kimberlee FrankBIG Reminder:  Follow up, follow up, follow up is crucial for capturing real estate deals!  What makes any deal is a Motivated Seller.  There are 13 main Seller motivators such as a vacant home, in pre-foreclosure, loss of job, job relocation, etc.  But how do we know when the “price” of the pain of home ownership becomes more than the price they want for the house?  How do we know when they’ve reached that tipping point, therefore agreeing to take a discount to allow an Investor to purchase the property and make a profit?  You guessed it….we follow up.  Over... Read More >>


Instant Floorplans: RoomScan Pro Review
By Don DeRosa
Don DeRosa“The building art is man's spatial dialogue with his environment and demonstrates how he asserts himself therein and how he masters it.” ~ Ludwig Mies van der Rohe Many apps I use are in lieu of something else, whether that be a tape measure or an architect’s blueprints. The RoomScan Pro seems to have replaced a lot of the physical tools needed to plan furniture placement, estimate how many gallons of paint or just to showcase a very simple to follow floor plan. It’s been helpful for prospective buyers to look at before they arrive at the open house. The... Read More >>


Despite Rescissions, Banks Still Refuse to Admit What They Did
By Bob Massey
Bob MasseyIn the last 15 months, thousands of TILA rescissions have been filed across the country. As a result we are finally seeing the patterns in how the banks are responding to rescissions. In case after case, the banks are obfuscating. They try to intimidate homeowners and confuse the courts into ignoring the clear letter of the law; that rescission is effective upon mailing as a matter of law. While they keep up this charade in the courts, they refuse to admit to federal regulators the risks posed by these wrongful foreclosures and the mortgage backed securities swindle as a whole.... Read More >>


How To Use Post Cards to Locate Motivated Sellers and Buyers For Your Real Estate Investing Business
By Kathy Kennebrook
Kathy KennebrookWhile I personally don’t use a lot of post card mailings in my real estate business, they definitely have their place. One of the main uses for a post card mailing is to either test a new list before spending a lot of money mailing to it, or to canvas large areas at very little cost to you. Post cards are also a very inexpensive effective means to building your buyers list. If you are going to implement post card mailings, there are several different ways to do them effectively. On my web site at www.marketingmagiclady.com, I provide you with... Read More >>


Getting Mailbox Money Without Tenants
By Bill Cook
Bill CookTwo decades ago, Kim and I set a goal to replace our earned income with investment income. There are a couple of advantages to achieving this goal.  First, you don’t have to labor for a living.  In other words, your capital is working for you instead of you working for your capital.  Second, the tax rate on earned income is much higher than it is on investment income.  Said another way: With investment income, the government lets you keep more of what you make, and when it comes to money, more is better than less, right?  To accomplish this goal,... Read More >>


The HUD Superstore
By Mark Jackson
Mark JacksonChecking information with REIA Comps will quickly tell you that HUD foreclosures are available all over the United States.  The thing to keep in mind is, the sales process for purchasing a HUD home isn't quite the same as you'll encounter when buying a home from an individual.  However, the no Deed Restrictions these homes have can significantly boost your wholesaling business adding real income to your RE business. HUD properties are sold using a bidding process. HUD foreclosures are homes owned by the government as a result of repossession.  These types of foreclosures are sold online from former mortgage... Read More >>


Use QuickBooks Custom Fields to Improve Insight
By Karen Bershad
Karen BershadQuickBooks’ structure is universal enough to appeal to millions of small businesses. Custom fields help you shape it to meet your company’s unique needs. If you’re using QuickBooks, you probably know that you’re complying with the rules of double-entry accounting. The software is designed such that you can be compliant with these requirements without even being aware of it. You’re dealing with invoices and purchase orders, bank account reconciliation and bill-paying and payroll, not debits and credits and journal entries. QuickBooks does the double-entry part in the background. While every business that uses QuickBooks is following those same rules, each... Read More >>


Are You Getting the Best Deal On Every House You Buy or Are You Settling For Less?
By Larry Harbolt
Larry HarboltThis is a question I constantly ask my students about every offer they are thinking about making to purchase any property, and I also ask myself this question before making an offer to purchase on every deal I do. It’s a wonderful thing when you put together a profitable deal but why not take a minute before submitting your offer to a flexible seller and ask yourself, “is there any way I can make this deal better”? If you are paying cash for the property I don’t know of any way you could make the deal better unless you offered... Read More >>


The Infamous Daisy Chain… Can It Work?
By Frank Iglesias
Frank IglesiasIf you have Buyers that are experienced, they know the drill.  A wholesaler gets a deal and pushes it out to their Buyers list.  Then all the wholesalers on that list send it to their Buyers with some marking up the price.  And then the next level does the same.  And somewhere in there are the bird dogs that literally do nothing but press the forward button thinking ‘easy money’.  Problem is the Buyer is on all of these people’s lists.  Depending on the timing, he may see the lowest price first or one much higher.  Or maybe the Buyer... Read More >>


Magic Websites to Find Motivated Sellers - for FREE!
By Tony Pearl
Tony PearlEveryone knows that the first thing we need to do to be successful in real estate investing is to find the Holy Grail of real estate: The Motivated Seller. And when it comes to finding that beautiful motivated seller, there’s essentially two options: FREE and PAID.  Another way of saying that: TIME or MONEY. Obviously, if you have more money than time, you’ll have more choices at your disposal. Direct Mail is most likely your highest & best choice. Hiring someone to find those motivated sellers for you would be another great option.  But this article is NOT about those... Read More >>


Economic Factors Affecting Real Estate - A National Perspective
By Deborah Harris
Deborah HarrisThis past February, I attended the Keller Williams Family Reunion in New Orleans, along with 15,000 other “Type A” real estate agents. One of the highlights of this convention is Gary Keller’s Vision Speech. He makes this speech to educate us, so that hopefully, we will be the economist of choice in our market. “You have to look at the past to predict the future”, says Gary Keller, “Mortgage rates are national rates.” Keller said, “While the government does not exactly know how to raise rates, but, low rates are helping affordability in most U.S. markets.” Mortgage rates averaged 3.85... Read More >>


The Master Lease Option Series – Part 3: Creating Value
By Bill Ham
Bill HamCreating value in real estate is a great way to make money. In this article of the Master Lease Option (MLO) Series I will discuss how you can add value to your real estate deals using MLOs so you can make more MONEY! Getting a seller to accept a master lease option deal is everything when using this technique. If a seller doesn’t believe that giving you a MLO on their property is the best option, then they won’t. Your job is to make the seller realize the value in allowing you to solve their problems with a MLO offer.... Read More >>


What do Fishing and Real Estate Have in Common?
By Russ Hiner
Russ HinerOne day I wanted to go fishing to a new spot. I knew where it was but had no clue as to how to get there from where I was at the time. I could have used a GPS if I had the address. I could use technology but Google maps needs to know the general area where I wanted to go. Another option, I could just ride out in the general direction and hope to see something I recognized. I could go old school and get a folded map. My time is money so I needed to go out... Read More >>