Archive for November, 2012
You Have Questions, We Have Answers
Posted on November 28, 2012 byI just started to use QuickBooks and when I look at my chart of accounts I found an account called “Opening Balance Equity”. I did not create this account. How did it get there and what is it used for? J.L. Marietta
The account “Opening Balance Equity” is not a General Accounting Practice account; it is an account that is generated by QuickBooks specifically for setting up specific accounts that will have a beginning balance. For instance: bank accounts, credit card accounts, mortgages and several other types of accounts. QuickBooks “assumes” that the brand new user may not know where to put the off-setting entry when setting up a bank account or other type of account with an existing beginning balance. It allows the user to get their accounts set up and begin using QuickBooks. Later, your CPA will come along and re-class those amounts to their proper place in your books. This account should always have a zero balance. You should never post anything directly to this account. Read More→
Multi-Family Investing Workshop with David Lindahl on January 5, 2013
Posted on November 28, 2012 byDo YOU Really Want to Become Wealthy in the New Year?
Do you have what it takes to be rich? Are you investing your time, resources and effort to make this happen? Are you ready, willing and able to become wealthy in 2013?
If you answered “YES”, we are inviting you a guest to attend The Multi-Family Investing Workshop with commercial real estate expert, David Lindahl, on Saturday, January 5th, 2013 at the Crowne Plaza Ravinia Hotel in Atlanta, GA starting at 8:30 AM. Our early registration special starts as low as $19.95 for Atlanta REIA Gold Members and a qualified guest! Prices will increase after early registration expires so register now and save!
This training event is going to be jam packed with commercial real estate investing lessons that you’ll be glad you didn’t have to learn on your own, the hard way. This practical, hands-on event will not only show you the ropes, but also keep you from getting tangled up in bad deals.
You’ll learn how to get into the commercial investing game without a huge bankroll, how to read markets and buy at the perfect time, and how to lock in your profits early to guarantee a good deal. Dave will show how you can jump right into the Commercial and Multi-Family Real Estate Market and create profitable deals whether you have some experience, or no experience at all.
This is just some of what Dave will teach you… Read More→
Year End Check Up!
Posted on November 28, 2012 by
Come to the Small Business Group and check up on where you are BEFORE it is tax time.
- Do you know what your Safe Harbor is?
- Do you know when you have reached that point in your business?
- Are you getting all the tax deductions you are entitled to?
- How do you know any of this if you are not keeping a good set of books?
Looking forward to seeing you at the 5 Seasons at the Prado on Thursday – 11/29/12 – 3:30 PM – 5:30 PM
Atlanta REIA Meeting & Christmas Party on December 3, 2012
Posted on November 19, 2012 by& Annual Christmas Party
with David Lindahl on Apartment House Riches
at the Crowne Plaza Ravinia on December 3rd
Atlanta REIA Members Can Attend at No Charge.
Guests Can RSVP Online Now for $20 or Pay $20 at the Door.
Atlanta REIA wants to wish a very Merry Christmas and Happy Holidays! On Monday, December 3rd, we are having a very special Atlanta REIA Meeting and Christmas Party. Atlanta REIA Members may attend at no charge and non-members and guests may attend for $20.
Starting at 5:30 PM on December 3rd, we are having our Atlanta REIA Main Meeting at the Crowne Plaza Ravinia with our special guest speaker, Commercial Real Estate Expert, David Lindahl! It has been 2 years this December since Dave has visited Atlanta REIA, so we are very excited to have him back to share his “Apartment House Riches” with us all just in time for the Holidays.
Dave will be talking about how to successfully invest in commercial real estate and make a fortune in today’s real estate market. Dave is not one of those real estate gurus who is all talk and no action. In fact, Dave currently owns over 7300 commercial units valued at over 200 million dollars and is still actively investing in real estate.
After the conclusion of the Main Meeting, we will be reconvening at the Tilted Kilt Perimeter located at 1155-B Mount Vernon Highway in Atlanta for our annual Christmas Party. There will be FREE Food, networking and lots of fun! Come eat, drink, network, have fun and celebrate the Christmas season with us as hang out late into the night!
*Please Note: Meeting agenda is subject to change.
Each and every month, for the duration of our meeting, we have a Vendor Trade Show in which you can come out and meet many of our participating business members who help sponsor our meeting. Thanks again sponsors!
Networth Realty of Atlanta, LLC – A licensed, full-service residential wholesale brokerage that specializes in finding quality wholesale properties and making them available to you. Read More>>
Lima One Capital, LLC – A fully capitalized, direct lender for residential real estate investors and homebuilders. We are fully capitalized and our team prides itself on closing loans quickly for our clients. Read More>>
Halperin Lyman, LLC – A transactional real property law firm devoted to providing the full spectrum of non-litigation related real estate legal and consulting services to its clientele.
Read More>>
Solutions Realty Network – Providing expert property management and investment services since 2003. You invest and we take care of the rest! We’re the solution to all your real estate needs. Read More>>
Pete’s Friendly Home Inspections, LLC. – Pete’s provides home inspections, radon monitoring, gas/water/septic tests, checks pools/sprinklers and any other type of inspection needed to get you that next home! Read More>>
Angel Oak Funding – A direct hard money lender headquartered in Atlanta. We provide renovation/construction loans for investors and or builders to purchase and renovate residential properties. Read More>>
The Small Business Advisor – A full service small business consulting firm specializing in QuickBooks with a wide variety of specialized services, trainings and products for small businesses. Read More>>
Atlanta Private Lending – Atlanta’s premier private real estate lending company. We provide private, hard money loans to professional real estate investors for renovation and investment purposes. Read More>>
American IRA – The American IRA mission is to provide the highest level of customer service in the self-directed retirement industry.
Read More>>
Goldmine Properties, Inc. – As Atlanta’s first full service real estate wholesaler, we offer wholesale property at 65% loan to value, with financing available. Purchase price and repairs are 65% of certified after repaired appraisal. Read More>>
Craftbuilt, Inc. – We are a Metro Atlanta design-build construction firm specializing in whole-structure renovations, restorations, and new construction. No matter what the situation, we are up to the challenge! Read More→
Atlanta Carpet Services, Inc. – Providing carpet, wood, vinyl, and tile, ACS is dedicated to every aspect of your floor covering needs from initial consultation to the sale and follow-up services. Read More>>
Fuller Center for Housing of Greater Atlanta – A faith-driven, Christ-centered, non-profit organization dedicated to providing adequate shelter for people in need in the Greater Atlanta area. Read More>>
Scott Bowen’s Specialized Services
C. Brown Property Management
Private Investment Event with Robert Shemin on December 6, 2012
Posted on November 19, 2012 byRobert Shemin, Wealth advisor for both CNN, FOX News, New York Times, and Wall Street Journal bestselling author of “How Come That Idiot’s Rich and I’m Not”. Robert Shemin is one of the nation’s most sought after and respected real estate investment and financial market forecasters today.
Join Robert and his team, December 6th at the Crowne Plaza Ravinia Hotel from 7:00 PM to 9:00 PM. Robert is expanding his investment business and is looking for great partners to join him. This is a RARE opportunity.
At this event Robert will:
- Do an advanced deal analysis session
- Talk about the principles of Wealth Building that every investor should use.
- Unveil why NOW is the perfect time to be investing in real estate
- Educate you on secrets to making money in the Atlanta market and beyond
- Analyze your deals
THIS IS A PRIVATE EVENT – FOR QUALIFIED INVESTORS ONLY
Cost: None – but is for qualified investors only
Date & Time: December 6th, 7:00 p.m. To 9:00 p.m.
Location: Crowne Plaza Ravinia Hotel, 4355 Ashford Dunwoody Rd, Atlanta GA
New Location for Atlanta REIA South Meeting Tonight
Posted on November 8, 2012 by
The Atlanta REIA South Monthly Meeting, run by Reggie Jackson and Gordon Catts, is held on the 2nd Thursday of each month at 6:30 PM at The Barbecue Kitchen located at 1437 Virginia Ave, College Park, GA (map). Please show up at 6:30 PM to eat and network before the meeting officially starts at 7:00 PM. Atlanta REIA Members may attend at no charge. Guests may attend for $5.00. We hope you will come out and eat, network, learn and have fun with us!
A Change Is Afoot On The Steps
Posted on November 5, 2012 bySomething new and bizarre is happening at the foreclosure auction in Bartow County. It seems to be a seismic event that marks an increase in the price properties are selling for on the steps.
A few months ago, a different kind of investor showed up at the Bartow County auction. Their mission is to buy around 200 properties a month in the Atlanta area. One company buying two hundred properties a month is unheard of in Georgia!
The buyer is some sort of investment company that controls a conglomerate of money. Here’s how it seems to work: The investment company has a good number of folks pool their money into one pot. I understand – but have not confirmed – that these money-partners are promised a return of around 8%. This is a much higher yield than they can get at a bank. The investment company uses these funds to purchase property at foreclosure auctions. Once a property is bought, the exit strategy is to find a tenant for the property and manage it as a rental. One day, when property values return, I’m guessing the company will sell these rentals for a nice profit. It’s an interesting business model. Read More→
Are NFL Football Players Rich?
Posted on November 4, 2012 byJust mention tenants and rental property at a party filled with “normal” folks and the partygoers scatter like mice after the lights go on. POOF! They can’t get away from me fast enough!
I don’t get it. Many folks can’t retire because they’re broke. They’ve worked their whole lives and have little to show for it. Lord knows, getting a $1,000 Social Security check every month isn’t my idea of a retirement plan. However, receiving $15,000 a month in mailbox money is a lot more like it – don’t you agree?
People often point to the downside of being an investor – tenants. True – if you put a bad tenant in your house, then you’re not gonna have an enjoyable time. The other side of the coin is this: Most tenants – if you screen them properly – are easy to work with, take great care of the property, pay their rent on time and are good neighbors. And here’s the best part – you get to choose which tenant – a good one or a bad one – goes in your investment property! Read More→
Paint ‘Em Pepto-Bismol Pink
Posted on November 3, 2012 byJust finished having a nice lunch with two experienced real estate professionals. One was a realtor, the other a mortgage broker. To be specific, they wanted to know how quickly I thought property values would rise from this point forward.
All real estate is local. Just because values may be skyrocketing in New York, it doesn’t mean they’re also skyrocketing in North Georgia. These are two completely different areas. Thankfully, in Adairsville, we’re not covered up with hard-to-understand Yankees!
Home values have been dragging along the bottom for about a year. I explained that values would rise only after the excess inventory was gone. They stated that there wasn’t any more excess inventory in Cartersville, Georgia. I asked, “How did you come to this conclusion?” “We read the paper and watch TV news,” they replied. Read More→
The Real Estate Game Changer Event: Nov 16th – 18th, 2012
Posted on November 2, 2012 byThe Real Estate Game Changer Event
We would like to invite you to join us in Atlanta, Georgia in November to learn how you can take your real estate business to the next level and beyond. “The Real Estate Game Changer Event” will blow you away on how easy it is to make fast money and long-term financial security for you and your family.
You need to attend this powerful event in Atlanta on November 16th – 18th at the Crowne Plaza Ravinia Hotel located at 4355 Ashford Dunwoody Rd in Atlanta, GA. The tuition for this 3 day event is Only $34.95 for the first person and only $15 extra to add a spouse, significant other, parent or child. Registration starts at 8:00 AM on Friday, November 16th and the event begins at 8:30 AM.
The speakers and education presented at this event are top notch. We’ve invited several of the best and most successful trainers in their chosen fields to teach you how to put your real estate business on the fast track to financial freedom. The trainers include Robert Shemin, Dr. Albert Lowry, Chris Johnson, Andrew Cordle, Chris Bowser, Duncan Wierman, Don DeRosa and Dustin Griffin.
We’ll show you step-by-step how to make huge profits fast using the Internet as well as powerful new real estate investing techniques and strategies you’ve probably never heard of before. Just one strategy learned at this event could make you an extra $10,000 in the next 30 days!
Attending The Real Estate Game Changer Event is the best thing you can do for yourself! You are going to learn cutting-edge real estate investing and marketing techniques. The strategies you learn at this event will give you the tools you need to go out and make more money with far less effort!
Other investors are making a fortune using the powerful marketing and investing strategies and techniques that will be revealed at this event. This is your opportunity to do the same thing and dominate your market right in your very own backyard!
There are many ways to make money in real estate, and there will be something for everyone at the event, so REGISTER NOW for only $34.95 and come join us and many other like-minded real estate investors and entrepreneurs at this life changing event.
Here is a just a taste of what you will learn: Read More→
Too Much Yakking, Not Enough Confidence
Posted on November 2, 2012 byShe rang the doorbell and silently prayed for guidance: “Lord, help me to say the right thing.” The homeowner answered and invited her in…and she started yakking. Yak. Yak. Yak. She yakked about her experience in real estate, her precious dog and her friend’s struggling business. The homeowner listened patiently, even offering encouraging words of advice. When the meeting was over and she walked to her car, she realized that she knew nothing about the homeowner’s situation and hadn’t a clue how to help – but the homeowner sure knew a lot about her!
That ‘she’ was me, sixteen years ago. Understandable, since I was a newly minted investor. But the sad thing is, that ‘she’ was also me last year, when I ventured out into the field after six years of sitting behind the comfort of my desk coordinating short sales.
I can’t tell you how many houses I’ve walked into – homeowners I’ve talked to – only to screw up the deal because I talked more than I listened. Ugghhh! Nervous energy would override my brain and cause my mouth to go into overdrive. I would yak, yak, yak and not learn a single thing about the homeowner’s situation. Then I would try to structure the deal! Well heck, NO ONE can structure a deal when they don’t know what the homeowner’s needs are. So I had to teach myself to listen. Truly listen. Read More→
The Profit November 2012 Edition
Posted on November 1, 2012 by
The November 2012 edition of The Profit, the official newsletter of the Atlanta Real Estate Investors Alliance (Atlanta REIA), is now ready for download in high or low resolution format. Read and enjoy a variety of articles on real estate investing and more from David Tilney, Jim Hitt, Karen Bersad, Don DeRosa, Russ Hiner, Michael Vazquez, Kimberlee Frank, Erven Kimble, Chris Littleton, Deborah Harris, Tony Pearl, Mike Barnes, Kathy Kennebrook, Larry Harbolt, Bill Cook and Bob Massey. And don’t forget, Atlanta REIA Business Members can advertise in The Profit at deeply discounted rates.
