The Profit October 2015
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The Profit October 2015 Articles
System for Success
By Russ Hiner
What will you do when things don’t go as planned? Will you flounder, or will you be able to put into motion a clear set of actions? In other words, Do you have a System for Success? Recently, a colleague of mine had two contractors burn him on a job. It should have been a quick fix, three days maximum, light work… paint, cleaning, and light bulbs. But neither contractor had a system to get the job done right, and he did not have a system to fire contractors and still come in on budget. The upshot is that, without... Read More >>
How Big Can You Go? Ask Your Sponsor
By Bill Ham
“What size property is right for me to start with?” This is a question I get asked all the time. My answer is usually the same. “Depends on how much of a loan you can qualify for”. Unless you already have all the cash you need to buy your next apartment deal (and I am assuming you don’t) then you are going to need to get a loan. Understanding what it takes to qualify for a loan is one of the best ways to decide on a property size when you are starting out. If you try and go too... Read More >>
Find Your Gold Mine in 2nd Loans on Short Sales
By Kimberlee Frank
I am so excited to tell you about a trend that I am finding on short sales that I am negotiating! You have read in my previous articles and I also mention in my Home Study Course about an interview that went worldwide on 60 Minutes which named Wells Fargo, Chase, Citibank, just to name a few, as Lenders and Banks who were falsifying documentation regarding Notes that Docx Company had destroyed. The interview referenced all of the “Robo Signings” that were occurring. After this was announced to the Public, the Lenders and Banks that were involved in falsifying documentation... Read More >>
Estimating Repairs as a Wholesaler
By Frank Iglesias
A common scenario… You find a deal and the Seller is motivated to sell. You walk through the property and notate everything you think the property needs. You come up with some quick estimates, do some negotiating with the Seller and get the property under contract. Woohoo! Your blood is flowing. It’s time to sell it. You send it to your Buyers list and you have interest. Things are looking good. Buyers check out the house. The excitement then dwindles… The reason? Repair estimate is too low. In some cases, very low. Before you know it, you are getting few... Read More >>
Customize QuickBooks Forms for a More Professional Image
By Karen Bershad
Want an easy, free way to make your business look more professional and polished? Customize your forms. QuickBooks has the tools. As a Real Estate Investor you may be asking yourself “Why do I need to do this? I don’t send out invoices or statements” – You may, on a very rare occasion, need to do just that for a late paying tenant or invoice them for repairs that they are responsible for. Or you may need to provide financial documents from QuickBooks to a lender/investor. You probably don't get as many paper forms in the U.S. Mail as you... Read More >>
Banks are Hiding Properties You Can Profit From
By Mark Jackson
When you know the best pockets or market areas around the U.S. to find discounted real estate, you are half way home. All that is left is evaluating the inventory for maximum profit. For those of you connected to REIAComps , the control and feeling of confidence you have over your deals is priceless. Using REIAComps to investigate the value of “Shadow Inventory” houses as they come to market, against the recent sold comparables, will provide you a solid position to “make your profit when you buy”. First, let’s define “Shadow Inventory”. The general definition goes like this; the current... Read More >>
More Unique Strategies to Locate Motivated Sellers
By Kathy Kennebrook
I am always excited by the opportunity to share as many ideas as I can with regard to locating motivated sellers for your real estate investing business. After all, without the sellers, there are no deals. I also like having the opportunity to share ideas for both the beginner investor and the seasoned investor alike within a variety of budget constraints. One of my favorite techniques is using flyers to get the message out there that I buy houses. Flyers are a great way to target and locate motivated sellers. They can be used to target specific neighborhoods and subdivisions... Read More >>
If You’re Not Saying Wow, Then…
By Bill Cook
Boy was Mike ever excited! He found his first real estate investing deal; a property he planned to keep as a rental. Knowing that Kim and I loaned money to purchase investment homes, he gave me a call. Mike’s contract was a gem of an opportunity – at least according to him. The seller told Mike that six other buyers were lined up with cash money. If Mike wasn’t able to close within a week, the seller would let another lucky stiff…errrr…I mean investor…have the home. Mike explained that the house was built in 1955, had three bedrooms and one... Read More >>
Commercial Deals Are Like Home Deals, And Here’s Why – Part 1
By Ron LeGrand
I want to take this opportunity to talk to you a little bit about commercial property. I've got a lot of experience in commercial property from developing vacant land to income-producing properties of all kinds. My favorite is development. But first, let's talk about what is commercial property. And, in the world of residential it's anything over 4 units. So, a 4-plex is not commercial, but a 5-plex is considered commercial. And, some of the properties that I have dealt with actually had income from tenants. I've had office buildings, I've had apartments, I've had retail and two or three... Read More >>
CamFind App Review: Use it or Lose it?
By Don DeRosa
“One machine can do the work of fifty ordinary men. No machine can do the work of one extraordinary man.” ~ Elbert Hubbard Camfind is a new app that makes some big promises. It claims to be able to identify literally anything just by snapping a picture. I was quite skeptical since my past experience with Google Goggles left me hoping for more accuracy. But from object to QR codes, Camfind is far better than Google’s long forgotten product. I used Google Goggles way back in 2010, but it has never been updated, so I haven’t touched it since. But... Read More >>
Different Ways To Generate Substantial Income For Your Portfolio With Assets Other Than Real Estate - Part Two
By Larry Harbolt
This month I will continue explaining what I believe to be one of the best ways to add additional income to your wealth building strategies investing in Paper Assets. There are two types of promissory notes "performing" and" nonperforming". The performing promissory notes are the ones being paid by the borrower every month as agreed. The nonperforming promissory notes are not being paid as agreed and in many cases are in default and in the foreclosure process. Depending on what the asset is that has been used as the collateral for the note, if not being paid as agreed, it... Read More >>
Does A Loan Servicer Even Have The Power To Foreclose?
By Bob Massey
The process is supposed to be simple. If you have a securitized mortgage, you make your payments to a servicing company. The servicing company is granted the authority by the certificate holder of the loan to collect the payments and enforce the terms of the loan. But what if that servicer never actually had the right to collect? Even if they had the right, what if they covered all of your missed payments to the certificate holder and its trust that owns your mortgage? If this were the case, your loan is current. Would the servicing company have the right... Read More >>
Why Nervous Investors Can Benefit from Real Estate IRAs
By Jim Hitt
When stock markets are volatile, investors (rightly) get nervous. After all, many people have most of their wealth in the stock market. If the stock market goes down, then they see their wealth shrinking...and for people close to retirement, this is a scary prospect indeed. But it doesn’t have to be this way. With Real Estate IRAs, many people learn that retirement income doesn’t have to depend on the quality of the Dow Jones Industrial Average. Instead, retirement income can depend on your strength as an investor, and the wisdom it takes to know what true diversification really is. And... Read More >>
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