Archive for February, 2013
I just wanted to let you know that my good friend Duncan Wierman just sent me a copy of his latest edition Online Lead Finder Software (Version 2.1.0) for harvesting leads off the Internet in seconds.
Because of our close friendship, Duncan is allowing me to give this incredible software away for FREE to our Atlanta REIA Members! Thanks Duncan!!!
The Lite Edition is for all Atlanta REIA Members and will scrape up to 25 leads per day.
The Gold Edition (AKA Turbo Edition), which is a $500 value, is FREE for Atlanta REIA Gold Members Only and will scrape an UNLIMITED number of leads per day.
If you are an Atlanta REIA Member, login to the Atlanta REIA Members Only Website first and then navigate to Members Only Downloads & Bonuses page where Duncan’s Online Lead Finder Software is listed 2nd in the list of available member downloads.
I hope you all enjoy this lead harvesting software. Duncan, thank you again for this amazing software!
with Don DeRosa on
The “New Subject-To” Strategies That Work in Today’s Real Estate Market
at the Crowne Plaza Ravinia on March 4th
Guests Can RSVP Online Now for $15 or Pay $20 at the Door.
Join us on Monday, March 4th at 5:30PM at the Atlanta REIA Main Monthly Meeting where real estate expert Don DeRosa will share with you, many of the “New Subject-To” strategies, tools and techniques he uses every day to create winning deals for himself as well as his buyers and sellers. Don is a part time real estate trainer and mentor and full-time real estate investor who actively buys, sells and holds properties each month for huge profits and long term cash flow.
Today Don is working feverishly at buying properties “Subject To” using the existing financing on the seller’s home instead of having to go to a bank or a hard money lender for funding. This allows Don to buy multiple properties fast, without coming up with all the purchase funds on the front end. This is the perfect strategy for buying and holding pretty houses in today’s market where easy funding is not readily available for real estate investors.
Don will walk you through real deals, step-by-step to demonstrate how to evaluate the lead, determine your exit strategy, structure the deal, negotiate with the seller and get the paperwork done almost instantly and without any of the hard work you normally do to get your deals done.
By the end of the presentation, you’ll know…
- How to recognize a “Subject To” opportunity and buy with little or no money!
- How to evaluate any lead and decide whether this is a winner for you and how much money you’ll make before you make your offer
- How to combine buying strategies and exit strategies – that work right now, in 2013
- How to structure a deal in less than 10 minutes, so that you make a minimum of $20,000 on it, choosing from multiple purchase and exist strategies
- How to determine the seller’s hot buttons are so you can craft a deal the seller can’t refuse
- How to use Don’s proprietary tools to negotiate for you, so you never let your emotions talk you into making a bad deal!
And is this is not enough, Don will be back with us on March 23rd & 24th for a two day boot camp called “Making a Fortune Buying Houses with No Money and No Credit” to really drive these points home and give you all the subject-to details you need to succeed in real estate investing. Once you are armed with Don’s training and the tools, you will be able to make this your best year ever!
Real Estate Strategies for a Changing Market
with Gordon Catts & Jim Hitt
The Atlanta Metro Area has gone from a buyer’s market to a seller’s market. The market has changed substantially in the last 6-12 months. Hedge Funds are stepping all over each other purchasing foreclosures and are running up the prices. The “courthouse gang” is now being routinely out bid by kids with a cell phone and an iPad who are receiving their bidding instructions from people we never see, who are sitting in front of multiple computer screens hundreds or thousands of miles away from the fray. Listed REO’s are selling above list price. When a new listing hits the market, within 24 hours there are multiple offers and the house is put under contract. With all this excitement going on it’s time to examine other strategies.
Please join us for the “Meeting-Before-The-Meeting” on Monday, March 4th at 3:00 PM at Total Wine & More located at 124 Perimeter Center W (see map), where your host Gordon Catts will be joined by Jim Hitt to discuss this important topic. Together Jim and Gordon bring years of valuable insight to this topic. Join us and bring your own questions, concerns, answers and insights. At 5:00 PM, Total Wine & More will be offering a complimentary wine tasting to all those who attend our meeting and wish to participate. There is NO CHARGE to attend this meeting or the wine tasting for Atlanta REIA Members and guests. Thanks Total Wine & More!
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 the “Meeting after the Meeting”. The Tilted Kilt will be offering half price appetizers as well as food and drink specials for our members and guests. Come eat, drink, network and have fun with us as hang out late into the night! Thanks Tilted Kilt Perimeter!
*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. Vendors can Reserve a Table Here. Thanks again sponsors!
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>>
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>>
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>>
Advanta IRA Administration – With the help of your local Advanta IRA staff, use your IRA to invest in assets you know, understand and control, such as real estate, notes & mortgages, private placements, and much more! 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>>
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>>
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>>
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>>
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>>
Platinum Real Estate– A full service real estate brokerage that provides a wide range of real estate services including full service property management. We assist our clients in buying residential, commercial and investment properties throughout metro Atlanta. Read More>>
WGC Commercial Lending – A national full service commercial real estate and business financing company. We provide conventional, bridge, SBA, refinancing/cash-out refinancing, credit lines and construction loans. 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>>
Simply Amazing Staging Atlanta – We have a proven record of converting those “For Sale” signs into “Sold” signs. We use 5 proven and time tested steps to sell your home in record time.
- Rock Shukoor
- Air Conditioning Experts, Inc
- American Family Insurance
- Invest Atlanta
- Alexandra Spollen
The Ultimate 2 Day Boot Camp to Buying Houses “Subject To”
with Don DeRosa on March 23 & 24, 2013 from 8AM – 5PM at the Crowne Plaza Ravinia, Atlanta, GA
Early Registration Special Ends Wed, Mar 20th
Don will be recording this event in efforts to create the 2013 edition of his “Making a Fortune Buying Houses with No Money and No Credit” Home Study Course on Buying Houses “Subject To”. Come join us and be part of this historic event and home study course.
- You don’t need credit
- You don’t have to sign personally on a note
- You never have to qualify for a mortgage
- You don’t have to have any money
Beginner or experienced real estate investors can find immediate success using my simple formula. There are six easy steps to follow when buying “Subject To.”
- Locating Sellers
- Prescreening Sellers
- Constructing Offers
- Presenting Offers
- Finding the Money
- Selling Houses
Once you learn to follow these steps you can do this over and over again for an average profit of over $20,000 per property.
The March 2013 edition of The Profit Newsletter is now ready for download as a High Quality PDF or Low Res PDF format. The Profit is the official newsletter of the Atlanta Real Estate Investors Alliance and is a digitally delivered, interactive newsletter for real estate investors delivered as an Adobe PDF file to read on your PC, Mac, Smart Phone, iPad or other mobile ready devices with a PDF reader. Many of the articles and ads in The Profit contain many hyperlinks you can click or tap to visit websites, watch videos, listen to audios, download content, send emails, comment on articles, share socially and much more! And yes, The Profit is “print ready” for those who still like a paper newsletter. Be sure to Subscribe to The Profit Here so you don’t miss a single monthly issue.
“The right tool for the job” ~ slogan for True Temper Tools
Congratulations – you made it through the winter and spring is on its way! I think spring is a perfect time to take an inventory of your real estate investment “tools.” And if you’ve been sitting on the sidelines, wondering if real estate investing is for you, spring is also a great time to dive in! Either way, it’s a good time to get back to basics. Today, let’s focus on one of my favorite investment techniques: “subject to” mortgages.
Most of you know that when you buy a house, you usually receive a warranty deed, which gives ownership of a piece of property. If you’re paying all cash for a property, you just exchange the cash for the warranty deed. So far so good.
But if you don’t have all the cash, you have to borrow the money. Most of you know how the typical mortgage loan works: Buddy Banker says, “Sure, just sign this promissory note that says you’ll pay it all back.” In return, you get a security instrument that says if you don’t pay the promissory note, the bank gets the property. In most states, that security instrument is the mortgage (In Georgia, we use security deeds). That mortgage, when it’s recorded, creates a lien on the property. In other words, the bank puts everyone on public notice that if the owner sells or transfers the property, the bank has to be paid off first.
A “subject-to” transaction is a little different. When you buy a house this way, you’ll take over payments on the original mortgage. You’ll bring the house up to date on the mortgage and back taxes and then continue to make mortgage payments, subject to the existing financing. The seller gives you a warranty deed, which conveys ownership to you. That means you get the tax benefits and the profits, but you also get the headaches and costs. Read More→
WGC Commercial Lending is a National full service commercial finance company, providing all types of commercial real estate and business financing to real estate investors and small/medium size businesses. WGC provides financing across four major categories which are; commercial real estate, general small business loans/lines of credit, equipment leasing and asset based lending. The company has the ability to provide financing for transactions that range from as small as $500 to over $500M depending on the type of transaction.
WGC is led by managing partner Charles Williams. Charles has 15 years of strategy and finance experience working with small businesses up to Fortune 500 companies. He has assisted organizations in developing and implementing business and financing strategies to grow their top-line as well as their bottom line. Charles is a graduate of West Point and has a MBA from Kellogg (Northwestern University).
Financing Programs for Real Estate Investors
Specifically for commercial real estate investors, WGC Commercial Lending provides several financing programs such, but not limited to, construction loans, conventional financing, refinancing, cash-out refinancing, SBA, and bridge/hard money loans. The company just launched a new financing program offering credit lines for real estate investors ranging from $50K-$150K. These credit lines are unsecured and can be used for residential and commercial real estate investing. Read More→
To Deed…Or NOT To Deed? THAT Is the Question
(When Buying Real Estate)
Welcome back again! If you’ve been keeping up with my last 2 articles, you’ll remember that we’ve been discussing one of the best strategies for doing deals in 2013 & beyond – Wholesaling Pretty Houses!
This type of deal is most advantageous for you, the investor, to do when you’ve come across a house that’s overleveraged or has very little to no equity. Rather than walk away from the deal because you believe there’s no money to be made, you simply get an agreement from the seller to find a qualified tenant buyer to occupy the property on a rent-to-own basis (aka lease purchase) & have the tenant-buyer make the mortgage payments until such time as they’re able to buy the house outright with a new loan and there’s enough equity in the house to justify them doing so. You would collect your money from the tenant buyer as an assignment fee for getting them in to this house buying opportunity that you’ve negotiated. Make sense?
Naturally, you would then be completely OUT of the deal from that point on. Why would you want to stay in? There’s no more money to be made, so it’s best that you collect your money (usually $5k+) and get out quickly.
So let’s take a moment to look at some types of deals where you WOULD want to stay in & why. Read More→
All un-invested cash in your self directed IRA is FDIC insured.
As a note, FDIC insurance only covers cash balances, not once you make a purchase of a non-traditional asset. All credit card transactions are safe — American IRA is certified by Security Metrics. All accounting is processed through a top-rated trust accounting system. We maintain professional insurance coverage, including crime shield policy and errors and omissions policy.
Asset Vesting with Your Self Directed IRA
All assets are vested in the client’s name at the time of purchase… “American IRA, LLC for the Benefit of Client’s Name IRA”.
Investing with Your Self Directed IRA
Investing within a self directed IRA is completely within the investor’s control. Is it safe? Yes, to the extent that the investor controls it. Here’s something that’s overlooked many times when we’re talking about safety between the securities industry, and let’s say in this case we’re talking about the real estate industry. Each investment has its own characteristics as to safety. Read More→
Kim and I are teaching a financial calculator course later this month (February 23, 2013). Yesterday, an investor called to ask whether he really needed to take the course. I explained that a contractor’s most important tool is a hammer, a NASCAR driver’s most important tool is a racecar, and a real estate investor’s most important tool is a financial calculator.
After a bit of discussion, the investor said he’d pass on the course because it would be a waste of time. Out of curiosity, I asked how many real estate investing seminars he attended each year. His answer wasn’t surprising: NONE!
Here’s the funny thing: Even though I teach a financial calculator course, want to guess where Kim and I are this weekend? We’re in Vegas attending Gary Johnston’s Money Not Math seminar – it’s a three-day intensive financial calculator course.
I already can make a financial calculator sing and dance. For years, I’ve taught folks how to use them. So why do I “waste my time” taking financial calculator classes? Seriously, I want you to answer this question! Read More→
Throughout the late 1990s and early 2000s, we experienced an unprecedented housing boom. Easy credit flooded the marketplace and home ownership surged to unheard of levels. Along with inflating an unsustainable bubble, the housing boom created a rich climate for mortgage fraud.
The bust that followed changed the nature of the crime, but it has also provided continued opportunities for mortgage fraud. Fortunately for homeowners, there is a new wave of investigative agencies emerging that are trying to figure out just how widespread and insidious the mortgage fraud epidemic is. Investigators hope the increased awareness will help to educate the general public about the threat that these crimes present.
The scary fact is that fraud continues at astounding levels. The allure of mortgage fraud is clear – it can generate amazing profits with a relatively low risk of discovery. After all, there is a byzantine mess of laws and regulations that govern the finance industry and keep all but the most ardent investigators from figuring out exactly what fraudsters are doing and how they can be prosecuted. Read More→
“The generous soul will be made rich, And he who waters will also be watered himself.” (Proverbs 11:25-26)
Have you ever asked yourself the question, “how much should I give to my church or synagogue?” This has always been a touchy subject, with many different views. Of course, the answer is always personal and depends on the person’s relation with God; as well as their involvement with the activities of their local church or religious organization. The responses and personal opinions of many successful business people are as varied as the individuals themselves.
However, the Bible has much to say about this subject. The reality of the matter is the same with all of our material possessions. God allows us to control, manage, and enjoy our earthly belongings for a finite period of time. After that, another person will get them and be given the opportunity to do the same. You see, every material or visible asset that we say… “I own ___”; will either be consumed, traded, given away, taken away, or left behind for someone else when we die. Consequently, since these assets are temporarily under our control, it is vitally important to consider to whom and to what cause we contribute them. Read More→
If you are sending out a good amount of offers for yourself or for clients, you know that it feels as if though the selling agent has “Please send your highest and best…” as an auto reply. Once you think about it you will realize that offering on MLS properties has become somewhat of an auction. The worse part about this is that you do not know where your offer stands in comparison as you do when you are actually participating at an auction. Who knows if there are even other offers on the table other than yours.
For this reason, auctions have become more attractive for many investors. Auctions favor investor because in order to bid on properties you must have cash on hand or financing in place. Plenty of the properties at auctions are foreclosed properties in need of major renovations which traditional financing will usually not finance. Therefore, this eliminates the over paying owner occupants that auctions attract. This leaves the cash buying owner occupants but they usually do not buy homes cash passed 80K. If you have ever prepared for an auction, you know that it takes lots of time and man power to properly prepare for one. You must inspect and have a title search done for each property you plan on bidding on. Read More→