The Profit November 2016
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The Profit November 2016 Articles
6 Steps to Making $40,000 in the Next 90 Days
By Don DeRosa
This month is renovation month at Atlanta REIA and I for one am super excited. For the past 19 years I have managed to perform just about every type of real estate transaction there is. Everything from notes, wholesale deals, lease options to subject to deals. I’ve used every buying strategy known to man and every creative technique to sell my properties. But, no technique has made me more money than the good old fashioned “rehab” fix and flip. People often ask me how they can make lots of money in real estate. You would think that answer would be... Read More >>
Emotion - The Deal Killer
By Frank Iglesias
Emotion is a tricky thing. We all have them. We experience them every day whether positive, negative or even indifference. I remember when I started investing being taught to never ever, EVER become emotionally attached to a deal. It sounded easy enough and as head knowledge it is. But then a funny thing happens…people and or money become involved! Oh yes, emotion can make the smartest of investors make the most let’s just say ‘bone headed of decisions’. I will have to admit, I have fallen prey to the power of emotion on a couple of emotions. Never underestimate this... Read More >>
Where Do I Get an MLO?
By Bill Ham
I have been asked the same question a few times lately so I decided to answer it in this article. “Where can I get a master lease option (MLO) contract from?” The answer is easy- Google. You can search for MLO docs online. There were dozens of versions from just as many sites. I highly suggest that you have an attorney review any docs you get off line before using them. When I am asked this question I usually respond by telling the person that they aren’t really asking the right question. The real question is not “where do I... Read More >>
Buying Houses with Hurricane Matthew’s Damage
By Kimberlee Frank
The State of Florida and many other states were affected by Hurricane Matthew, leaving many Sellers with problem houses. I am located in Oviedo, Florida, and being a transplant from Michigan, I have never been in a Florida Hurricane. All of my houses were blessed with minor damage such as big trees down in the back yard, shingles flying off the roof, branches and trash everywhere. I am very grateful to God for these blessings. Other Sellers were not so fortunate and my heart goes out to them. They now have to deal with making a huge decision of fixing... Read More >>
Fail Forward - FAST!
By Tony Pearl
Hey, guess what? I Want You to FAIL! “Say what now? Fail? But failure is a bad thing, right? That’s what they taught me in school...AND in my job! And all my friends make fun of each other when we fail.” Yes. Exactly. So what? I’d like you to think back to when you were a kid. Everything was new to you in the world. You really had to learn things for yourself… How to eat, drink, think, walk, talk, and interact with stuff, right? If you can’t remember any of that, just watch kids. Have you ever watched a... Read More >>
Creating A Solid Direct Mail Piece To Locate Motivated Sellers
By Kathy Kennebrook
One of the most important aspects to a marketing campaign that is going to work is to create a solid mail piece for your business. These are key points for creating a solid direct mail piece that folks will respond to no matter what business you are in. The first thing you’ll want to do is to “touch” your prospective customer or seller with “the dream”, or “the solution” to their problem. You’ll want to touch the basic emotions and the needs of your client or seller within the body of your letter, whether that is fear, relief, greed, pride... Read More >>
Self-Learning to Network
By Michael Vazquez
The last month or so I have been looking more and more into investing in apartments. However, I did not attend local MeetUps or other groups dedicated to apartment investing until this week. I self-educated as much as possible through books, podcasts, YouTube video and articles. I did this to prepare for the meetings and it paid off. The reason I learned as much as possible before attending these apartment investing meetings was so I can understand what was being discussed. I have led single family investment groups in the past and caught myself speaking over many of the attendees.... Read More >>
It is a Deal or No Deal in 2016?
By Russ Hiner
I have been challenged in the past few months as the competition in the market heats up and the number of wholesalers who are working the area are making offers to sellers which are outrageously high. I want to talk about the way to figure out if the subject property is a Prospect or a deal. This way you will get the keys to remembering if the opportunity is a deal or dud. I have recently taken some training because my business and I must change, in order to stay ahead of the changes in the economy, the market, and... Read More >>
Creating Reports in QuickBooks - Part 1
By Karen Bershad
QuickBooks comes with dozens of report templates that can be run as is. This month and next, we’ll show you ways to make them “fit” your company. Reports are your reward for all that hard work you put in entering records and transactions in QuickBooks. Sure, you can always find individual invoices, sales receipts, and customers by using the software’s search tools, but in order to make smart business decisions, you need to be able to see related subsets of the information you so carefully entered in neat rows and columns. You’ve probably created at least some basic reports in... Read More >>
How to Watch Your Fees with a Self-Directed IRA
By Jim Hitt
Maximizing the return you get out of your retirement investments is a question that’s on most peoples’ minds. So how can a Self-Directed IRA help? One word: fees. Fees are important for any investor to pay attention to—keeping them at a minimum will allow you to have more cumulative growth over the years, and avoiding major fees will ensure that you cut your direct expenses as much as possible. In the world of real estate investing, fees can be very difficult to deal with. Here are some steps to ensure that you can maximize the value of your account no... Read More >>
Using Real Estate Comps to Your Benefit
By Mark Jackson
Ok guys, I want to show you how to maximize your investment. Here are some ways to figure out what price you should offer on your properties to get a deal, or to give someone else a deal. Comps are of course, basically the true value of a house. You can look at the price of houses for sale, but that doesn't tell you the true value of a house. The true value of a house in an area is based on how much houses are SELLING for based on comps information from REIA Comps, not how much the houses... Read More >>
How Can One Deal Lead to More Deals?
By Bill Cook
Most folks think real estate investing consists of finding a deal, taking it down, getting it rehabbed and sold, and then going out to find the next deal. But what if you structured the deal in such a way that one deal leads to more deals? Let’s look at two real-world examples of this. A few years ago, our good friends Joe and Ashley English, found an investment property they wanted to buy. Only one problem: they didn’t have the money to buy the home. Joe sent an email to several investors explaining that he was seeking funding. Within minutes,... Read More >>
The Rental Returns for Georgia are Better than Most of the US
By Deborah Harris
There are many reasons why Atlanta and Georgia have better rental returns than other areas of the country. Let’s analyze some of the reasons for our good fortune. Employment According to the Bureau of Labor Statistics, the total nonfarm employment for the Atlanta Metropolitan Statistical Area stood at 2,667,800 in August 2016, an increase of 71,000 or 2.7 percent, from a year ago. Regional Commissioner Janet S. Rankin noted that the Atlanta area had year over year employment gains of over 50,000 each month since July 2013. Nationally, nonfarm employment increased 1.7 percent from August 2015 to August 2016. The... Read More >>
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