Archive for July, 2014
Learn to Creatively Structure Your Deals So You Don’t Need to Borrow From the Bank at CDS on Aug 6thPosted on July 28, 2014 by
So You Don’t Need A Bank!
with Russ Hiner
Atlanta REIA Members, FREE! Guests $20 At The Door
Do you want to become a perfect deal structurer? Then you must practice, practice, practice every chance possible. The more you practice, the better you become. Come join us on Wednesday, August 6th at 6:30PM at 57th Fighter Group Restaurant located at 3829 Clairmont Rd in Chamblee, right beside Peachtree-DeKalb Airport where Russ Hiner, will be showing you several different ways that you can creatively structure real estate deals, so you do not ever need to loan money from a bank!
Creative Deal Structuring happens when you find someone with a real estate problem that normal solutions can’t resolve. A lot of investors only think of wholesaling a property, when there are many other solutions available.
Russ will showing you 3 different ways to make 3 different offers on each property using real life deals that he has accomplished recently. Some without money. If you don’t feel that you can be creative, then come and cultivate it. You can do this with the right guidance. Rub elbows with some of the most creative minds in Atlanta. Bring some of your own deals so we can gain more practice. Realize that practice makes perfect!
You will learn:
- How To Create 3 Offers Per Property
- How To Structure The Deals For Maximum Profit
- How To Do A Deal On An Upside Down House
- How To Stop Thinking There Is A Box
- And much, much more…
$25 Dollar Gift Card Prize Drawing!
Russ Hiner is an active real estate investor, coach and mentor. Russ is also currently the leader of the Atlanta REIA Creative Deal Structuring Group. Russ also teaches several Atlanta REIA Workshops throughout the year on a variety of real estate investing topics such as Negotiations, Wholesaling 101, Wholesaling 401, Real Estate 101, Property Management and more.
Russ is passionate about what he does. He is constantly learning. Over the years Russ has used education, mentors and surrounded himself with people who have help further his career. Russ has been consistently reaching goals in real estate for 30 years. He worked with Rich Dad and Russ Whitney as a mentor for 13 years. Keeping a great sense of humor has also helped.
Atlanta REIA members FREE. Non-Members $20 per person.
Seating is limited! Get there early!
CDS is a group about creative deal structuring and how to apply it in your everyday life and business. If you’re looking to obtain tools, get knowledge, and feel better about structuring real estate transactions for profit, then the Creative Deal Structuring Group is the right group for you. CDS is led by Russ Hiner who is currently focusing on the need for his experience in assisting people who face “the people business” issues everyday to get a resolution and “real life” solutions. Russ is also on of the leading coaches for the Atlanta Homebuyers Society. He is also a sought-after keynote speaker and, trainer of sales and communication skills.
In Today’s Real Estate Market
with Don DeRosa
Atlanta REIA Members Can Attend at No Charge. This month,
Guests Can RSVP Online Now for $20 or Pay $25 at the Door.
Don DeRosa 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 furiously 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 in today’s market where easy funding is not readily available for investors to buy pretty houses.
Join us on Monday, August 4th at 5:00PM at the Atlanta REIA Main Monthly Meeting at the Salvation Army Building located at 2090 N Druid Hills Rd NE, Atlanta, GA 30329 and Don will share with you, many of the subject-to strategies, tools and techniques he uses every day to create winning deals for himself as well as his buyers and sellers.
Don will walk you through real world, actual deals, step-by-step to demonstrate how to apply these strategies, tools and techniques. In fact, you can bring your deals, and he’ll show you exactly 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 2014
- 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 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 if this is not enough, Don will be back with us on August 23rd for a one day workshop 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 do deals you never thought possible!
*Please Note: Meeting agenda is subject to change.
Online Tools for Real Estate Investors
with Gordon Catts
At 4:00 PM in the Green Room, Gordon Catts will kick off the Active Investors Group as the “Meeting-Before-The-Meeting” where he will show you how to analyze deals, do your due diligence and pull comps. He will be demonstrating various online assets that every real estate Investor should have and use in his tool box.
Gordon will walk you through the process of getting the legal description used in writing a contract and on the deed. He will demonstrate how to approximate what the seller owes. He will take you on a virtual tour of a neighborhood so you don’t even have to crank up your car. Gordon will cover…
- Many resources that are available online
- Where to find the deed to a property
- Where to find the security deed
- What is a PT61 and why you should care
- What a seller owes on their mortgage
- What information you can only get from a Realtor
- And much more!
At 5:00 PM in the Main Lobby, we have a Vendor Trade Show that lasts throughout the meeting where you can come out and meet many of our participating Business Members and Vendor Guests who help sponsor our meeting. See a full list of our vendors and sponsors below as they are added.
Vendor tables are limited, so any vendors wanting to reserve a table for the meeting can RSVP for a Vendor Table here. Vendor tables are reserved and setup on a first-come, first-serve basis.
Starting at 6:10 PM, Dustin Griffin kicks off the Atlanta REIA Main Meeting with updates and announcements. Dustin covers what’s happening at Atlanta REIA in the upcoming weeks and months such as upcoming workshops, webcasts, special events, members benefits and much more! Be sure to be in the main meeting room at 6PM for your chance to be one of the first to receive a printed copy of The Profit Newsletter while supplies last.
At approximately 6:20 PM, Joe Thompson will be hosting the Haves & Wants Speed Marketing Session which gives our members the opportunity to quickly market deals they HAVE and to find deals they WANT. We also give our business members the opportunity to get up and say a few words about their businesses. Members who want to participate in the Haves & Wants Marketing Session must bring your flyers and get to the meeting early to get on Joe’s list of participants.
After the conclusion of the Atlanta REIA Main Meeting, we will be reconvening at the Famous Pub located at 2947 N Druid Hills Road NE in Atlanta, GA (in the Toco Hills Shopping Center) at 9:30 PM for the All New Late Nite Networking and the “Meeting-After-The-Meeting”! The Famous Pub will be extending our members and guests food and beverage specials throughout the evening.
- Do you love hanging out with other fun loving, like-minded real estate investors who love to talk about real estate investing and doing deals?
- Do you want to work with fun, energetic people who are consistently doing deals?
- Are you always looking for new contacts and resources to build your real estate dream team?
- Do you ever have trouble putting together profitable deals and need help?
- Are you constantly looking for new leads sources as well as home buyers and sellers?
If you answered “yes” to any of these questions, then you belong at Late Nite Networking! Whether you are brand new to real estate investing or have years of experienced, everyone benefits from Late Nite Networking. Come eat, drink, connect, and have fun with like-minded real estate entrepreneurs as we network late into the night!
There is no charge for Atlanta REIA Members or guests, so bring a friend and head on down to Late Nite Networking! Just be sure you order food and beverages from the pub and tip their wait staff generously.
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>>
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>>
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>>
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>>
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>>
DirectBuy of Atlanta – We are a private members-only buying club that gives you huge buying power by eliminating mark-up and the middleman, saving you thousands of dollars and up to 50% or more over retail and online sales prices. 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>>
Precise Carpet Cleaners – Don’t replace your carpet, clean it and save money. We just don’t clean your carpet, we precise clean it! Call 678-242-8800 or visit our website for more information. 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>>
- Max Shirley Inspection Service
- ApexTkHomes, LLC
The August 2014 Edition of The Profit Newsletter is available for download just in time for our Atlanta REIA Main Meeting on August 4th. The Profit is an digital, interactive newsletter for new and seasoned 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! The high res version of The Profit is “print ready” for those who want to print the newsletter on their home or business printer. Also, be sure to Subscribe to The Profit Here so you don’t miss a single monthly issue.
See The Profit Archives for our past editions.
A Full Day Workshop
with Russ Hiner & Rock Shukoor
August 9th, 9am-5pm – *Keller Williams
200 Glenridge Point Pkwy, STE 100, Sandy Springs
If any of the reasons above fit you, don’t feel bad since you aren’t alone. These are valid reasons and they stop 90% of investors from taking action or taking the next step once they have found a nice deal. On on Saturday, August 9th from 9AM to 5PM at the Keller Williams Office* located at 200 Glenridge Point Pkwy NE, Suite 100 in Sandy Springs, GA, Russ Hiner and Rock Shukoor will share information you would not find anywhere else on how to overcome these issues so you can become successful in real estate investing. They will share:
- 7 Ways To Find 7 Deals In 7 Days
- New Tools And Techniques That Work In Today’s Market
- How To Structure Deals Creatively
- How To Protect Yourself And Minimize Risk When Investing
- How To Make Your Phone Ring Non-Stop Using Direct Mail Marketing
- How To Build A Buyers List Of Cash Investors
- Knowing If An Opportunity Is A Deal Or A Dud
- Screening And Prescreening The Deals
- How To Sell Houses At Lightning Speed
- How To Get To Payday Quickly
- How To Follow Up On Your Deals And Closings
- How To Say Good Bye To Fears And Act In Spite Of Them Knowing That You Have 2 Investors With 50 Years Of Experience On Your Side.
- And Much, Much, More…
Rock Shukoor is the president of Platinum Key Management Inc. He has been A fulltime real estate investor for over a decade. He is one of the top marketing and business consultants in the country for real estate investors as well as business owners. He is a graduated and master in real estate investing, a leading expert in creative financing, a coach to hundreds of successful investors around the country, a sought after speaker and presenter in the areas of real estate investing and an active investor himself. He is the leader of a Marketing and education group called AIM, short for All Inclusive Marketing. Rock is also the author of 5 books on real estate investing and marketing.
Russ Hiner has spent 30 years on reaching his goals and becoming an expert. He has worked with Rich Dad and Russ Whitney as a mentor for 13 years. Russ has actively Played the real estate game including working everyday doing wholesales, buy, fix & sells, lease options, rentals, creating notes and buying and selling on Contract For Deeds. Russ has played the roles of being a buyer, a seller a rehabber and a lender in real life situations and has became an expert at all those areas. Now you too can benefit from his knowledge and experience by working with him. Russ is also the leader of the Creative Deal Structuring (CDS) Group.
*Meeting facilities provided by Deborah Harris of Keller Williams Realty First Atlanta. Contact Deborah for all your commercial or residential real estate needs at 404-272-9827 or AtlantaRealty@KW.com. Thanks Deborah!
This is one of my favorite ways to buy!!! I do several of these a year.
It’s HOT, HOT, HOT out there, and if you’ve been sitting on the sidelines, wondering if real estate investing is for you, now is a great time to dive in! 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. Pretty easy most everyone knows that.
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: your 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. Read More→
What is Probate? Probate is a vehicle to create inventory. A common misperception is that probate is automatically a good deal, but putting a contract on a probate property is the same as putting any other property under contract.
Finding probate properties is the same as finding foreclosures, divorces, and tax liens. Spending time building or purchasing databases and then marketing directly to them allows us to have more probate properties to select from.
These are the factors that affect whether or not a probate is a good or bad deal:
- The purchase price in relationship to the after- repair value
- Cash sale or owner financing
- Type of property
In today’s current real estate market, appreciation is happening at such a rate that paying current market value has its advantages. Here are some things to consider: Read More→
Last month we talked about locating prospects, meaning buyers, and discovered that the two main ways we do it is, putting out signs and running ads on sites like craigslist. This month, we must discuss how to pre-screen those prospects when they get to us so we can determine the difference between someone we should work with and someone we should ignore.
We must start by deciding how we are going to capture these leads as we generate them. They will come in two forms: 1. Phone Call 2. Online. The first thing we must do is figure out how we are going to take the inbound calls. We use PATLive. Here, you have the choice of either having them taken live, or driving them to a voicemail box and just leaving enough information for you to decide whether you want to call them back. And here, my friend, is the key to pre-screening. The goal is to collect enough information to determine if they are worthy of your time. We’ll come back to that in just a minute.
If you use a voicemail system, check with PATLive on what’s called an IVR, Interactive Voice Response system. They can now set it up so the machine can ask several questions from your buyers without any human intervention. You might note, this is how we receive all our leads that we drive in from the radio at Global Publishing. A voice recorder handles all of the information and does a couple of upsells before they even get off the phone. This use of the IVR has changed our industry and now PATLive can make it available for you as a real estate investor. Read More→
Last month we discussed four of the major mistakes I made when I was learning to be a real estate investor setting at sellers kitchen tables trying to structure profitable deals to better provide for my family and the dumb things I did that cost me thousands and thousands of dollars over the years. This month I am sharing with you more of the things I did when I didn’t know what I was doing when negotiating. If you will learn from my mistakes it should take years off of your learning curve and help put thousands of dollars in your pocket every year.
Sounding Like and Expert – this is a mistake I see all too many beginning investors make. Many years after I started buying houses, my mentor, Jimmy Napier told me to always be at or just below the sellers intelligent level if you want to be successful negotiating with them. Until I learned what Jimmy told me I would say the things I would hear from a seminar speaker that the sellers didn’t understand. This was not good. I found out that when you sound too smart many sellers get uneasy because they start to think that you could be getting ready to take advantage of them in some way. Never sound too smart when talking to the sellers. Read More→
Just met with a would-be real estate investor. For two years she’s been trying to get into the investing business. Problem is, she has yet to meet with a seller face-to-face.
When I asked why she hasn’t met with any sellers, she said: “What if the seller takes my offer? How am I gonna pay for the property? Banks sure aren’t lending to investors right now!”
Ironically, the fear of the seller saying, “YES!” is what keeps most would-be investors from ever making their first offer. But the astonishing thing is, if your deal is a good one, the money will ALWAYS find you!
We get loads of calls from investors who are looking for money to fund their deals. For example, yesterday an investor contacted me about a 2-bedroom, 2-bath condo he wanted to buy and flip. The condo’s ARV (after repaired value) is $65,000. It needs $15,000 in repairs. The seller agreed to a $48,000 sale price. But when all the expenses are factored in, there’s no way this investor will make a dime on this deal, and that’s why no one will fund this one. Read More→
I received several emails after my article last month regarding “Are Investors Flipping over the Gray Line.” The questions were about Land Trusts and transferring the beneficial interest at the time of closing. So … I am writing to all of those individuals who might be ‘Flipping Over the Gray Line’ but not really knowing it. Or maybe you are being coached by mentors and/or partners who are advising you that this is alright to do. If that is the case, then I want you to fully realize who will be liable for the wrong doing.
First off, the Short Sale Approval Letter and the Short Sale Arm’s Length Affidavit will advise you how you can conduct the closing regarding several factors: Closing Date, Approved Short Sale Amount, Approved Commission and Closing Costs, Approved Buyer Name, and any Deed Restrictions such as how long the new Buyer must hold the property before selling the property or if you are aware of any other agreements to sell this property to someone else at a higher price. All of Bank of America’s short sale letters and/or the Short Sale Arm’s Length Affidavit state that the Buyer cannot resell the property for 30 days. However, sometimes the Title Company, due to the wording in the Short Sale Approval Letter and/or the Short Sale Arm’s Length Affidavit, is not instructed to place this restriction directly on the Deed. This is where the Investor/Buyer thinks they have found a loop hole! The Investor/Buyer will close with Title Company A and then the same day or shortly after will turn around and close with Title Company B who has no knowledge of the Buyer’s requirement to hold the property because they did not do the first closing. Read More→
This month I will be discussing even more ways to find all the buyers you need for your real estate investing business.
If you have taken the time to build your dream team, you might also want to talk to your dream team Realtor to see if they work with any wholesale buyers in your area. They almost always have clients looking to buy wholesale deals. They may also have pre-qualified buyers for your other deals as well. Having a Realtor on your dream team is a necessary part of building a successful Real Estate Investing Business and if you have trained your Realtor correctly from the beginning they should already be providing these leads for you.
Many home buyers in the current market are asking friends and family members for possible leads on properties. So another technique I employ to find more potential buyers for my properties is to offer incentives to folks who have already purchased properties from me in order to get referrals. This is a technique that many Real Estate Investors simply forget about, but it can be very profitable for you. Read More→
Did you hear the news? Citigroup may have to pay a $7 billion settlement to resolve mortgage probes. Why? To get the government to stop looking into whether it defrauded investors on billions of dollars worth of mortgage securities. Most of the payment will be in cash, but it will also include a few billion dollars to help struggling homeowners. How magnanimous of them! Citi created hundreds of billions of dollars worth of fraudulent mortgages, and now that they’ve been caught after 7 years of foreclosing like crazy on their fraudulent mortgages, they’re finally going to cough up a few billion to help out some of the people they haven’t foreclosed on yet.
This news brings to mind a case I read about recently where a REGIONAL bank had the owner of a property falsify mortgage documents in order to originate a riskier loan. That’s right, the regional bank has the owner of two VACANT lots certify that there were houses on the two lots. Then the bank made a loan as if the nonexistent homes were actually on the two vacant lots. Why on Earth would the bank lie and increase their risk by loaning out so much more money than the land was worth? It was all part of a large scale scheme to rake in as much money as possible by defrauding the bank’s investors. Read More→