Archive for February, 2015
How to Design an Insanely Profitable Pre-Foreclosure Flipping Business & Have an Amazing Life in the Process
A Full Day Workshop with Shaun McCloskey
Sat, March 14th, 9AM-5PM at DoubleTree Hotel
1075 Holcomb Bridge Rd, Roswell, GA
Early 2-for-1 Registration Special Ends
Tonight, March 12th at Midnight!
Join us on Saturday, March 14th at 9:00 AM at the Doubletree Hotel at 1075 Holcomb Bridge Rd in Roswell, GA to learn how to dominate your pre-foreclosure market from the master of pre-foreclosures, Shaun McCloskey!
Shaun is teaching students why this is THE YEAR for pre-foreclosure real estate investing. The market is hot, hot, hot! Banks have an overabundance of inventory and Shaun and his students are cashing in big time!
“In just the past two weeks alone, I’ve had two students call with record setting profits. At this workshop, I’ll show you the 7 steps to how Dave just cashed a $175,000 NET paycheck (that means after all expenses, this is how much he got to keep for himself!) I’ll also show you the exact steps that Dan used to close a deal that will earn him close to $300K in net profits in the next two weeks! All of what we’re sharing is what works TODAY!”
Here’s What You’ll Learn Saturday Morning at the Workshop!
- How to cash in on short sales without EVER having to negotiate! Heck, we’ll even show you how you’ll never need to even make one single phone call to a bank to negotiate huge discounts!
- Never Pay for Marketing Again: How to generate all the pre-foreclosure leads you’ll ever need -for the low, low cost of ZERO dollars!
- Pre-Foreclosure Deal Finding Strategies: Learn how to find and pursue ONLY the best of the best short sale leads in your area. Pursue the best, forget the rest.
- Unlimited FREE Leads; How to get more pre-foreclosure leads than you can handle, all begging you to take their house.
- Deal Evaluation Demystified: Learn the 6 strategies I use to quickly find (and pick) the lowest hanging fruit that equates to the biggest possible paychecks.
- APPROVED: Offer Structuring tactics designed to virtually guarantee the biggest discounts and most approved short sale offers. (I’m going to give you the exact criteria that banks use to determine whether or not they’ll approve your offer!)
- Affective Negotiation Tactics that Work: Learn specifically how to structure your negotiations so that the banks are begging you to rob them of thousands of dollars worth of equity.
- Bank Secrets Revealed: Discover the #1 secret to uncovering the lowest possible dollar amount that a lender will accept as a short sale payoff. (This one secret alone is worth hundreds of thousands of dollars in cash in your pocket!)
- Sell that House FAST!: Discover the brand new house selling strategy that virtually GUARANTEES you to sell any house in any market in 7 days or less!
- Business Management Mastery: How to set your real estate business so that it runs on AUTOPILOT, allowing you to put cash in your pocket without having to work 70 hours per week like most other real estate investors.
- Unlimited Deal Funding: How to access all the cash you’ll ever need to fund your real estate deals.
- And much more…
AND THAT’S ALL BEFORE LUNCH!!! There’s More!
By the way, all of what we’re sharing is what works TODAY! It’s not some fluff that was written by someone who’s never been in the business. This stuff works right now, right here in the Atlanta Metro Area.
I’m also going to be sharing how my student Jason Roberts made $3.7 MILLION dollars in his short sale business his very first year in with his short sale business, doing EXACTLY WHAT I’LL BE TEACHING YOU AT THIS EVENT! I’ll show you his exact recipe of how he did it – his exact marketing plan to get people to hand him the keys to their house, and how you can too.
This Saturday workshop is designed to provide you with everything you need to get your short sale business up and running within 7 days, so come prepared to take lots of notes! Bring a sharpened pencil, and come prepared to get every question answered. Regardless of whatever you’ve heard about short sales in the past, we’re going to show you how to make this year the most profitable year of your entire life!
PLEASE NOTE: The 2 for 1 Early Registration Special is for Altanta REIA Members and is limited to spouses, adult children and corporate partners. Non-Members after early registration expires. Non-Members who join Atlanta REIA between February 27th – March 2nd, 2015 can attend the workshop for FREE. Also, Atlanta REIA Members who renew their membership for an additional year between February 27th – March 2nd, 2015 can attend the workshop for FREE as well. When joining Atlanta REIA or renewing your membership, please indicate that you want to attend the workshop at no charge. You can join Atlanta REIA at http://membership.atlantareia.com.
BONUS SESSION! – Saturday Afternoon Session Read More→
A Lifeonaire is someone who is full of life. Many people equate living life to the fullest with their financial means to do so; they think that having more money will automatically enhance their lives. At the root of a desire for money is actually the desire for what people think money will give them: a greater quality of life. That focus typically results in the opposite of the goal, causing people to funnel their energy into earning more money rather than living an incredible life.
When someone is very “successful” in their career and spending a lot of time making a lot of money, often times they never really get around to experiencing the fullness of life for which they are working so hard. This is evidenced by the broken families, damaged friendships, forgotten hobbies and interests, crumbling marriages and troubled children that result from neglect – all because their primary focus is on being more financially successful.
The first step to becoming a Lifeonaire is to determine what you want your life to look like. (Creating a Lifeonaire vision) Believe it or not, 98% (or more) of people don’t know specifically what they want their lives to look like. Most everyone says they do, but very few people have any amount of specificity to their answer, nor have they taken the time to put it in writing. Instead, what they know is that they don’t like the way it currently is, and they mistakenly believe that more money will be the solution. This first step is critical, since your Lifeonaire vision will become the foundation that subsequent actions will build upon. Read More→
The March 2015 Edition of The Profit Newsletter is available for download just in time for our Atlanta REIA Main Meeting on March 2nd. There are 40 pages of valuable information this month for your real estate investing success. Download it and check it out! The Profit is Atlanta REIA’s digital, interactive newsletter for serious real estate investors delivered as an Adobe PDF file to read on your PC, Mac, Smart Phone, iPad or other mobile ready devices. Many of the articles and ads in The Profit contain many hyperlinks you can click to get more information online! The high res version of The Profit is “print ready” for those who want to print the newsletter on their home or business printer. Be sure to Subscribe to The Profit by Email or Subscribe to The Profit by Text so you don’t miss a single issue.
When I hear someone say that success is easy, it always raises my BS sensors. It really concerns me when someone says this, but then I have to look at myself because I say this as well. The difference is, I really mean it. But in order for success to become easy, you’re going to have to play a different game than most.
I’m not suggesting that becoming successful requires no work and that there are no struggles, but when I say that The Road to Success is Easy, I’m suggesting that when someone has a plan and they follow it, that success is attainable to all, and it can be done in a relatively short period of time.
We live in a world in which we idolize success and as a result we pursue it with all that we have. As a culture we have defined success as having a lot of money. We want it so badly that we look for shortcuts, we’ll compromise our values, and we’ll tear down things that are important to us in order to attain it. We’ll go into debt. We’ll buy things we don’t need to impress people we don’t care about. What we all really want is life. We want freedom. We want to be able to spend time doing and experiencing the things in life that provide the most fulfillment, however, most of us today have given up any hopes of this life in pursuit of the almighty dollar.
What we teach at Lifeonaire is that if we will simply follow a plan, that success is easy. It’s an easy road. What we have found is that the world around us is pursuing success every other way, that what makes pursuing the path to success difficult is that we have to go against the grain and do things differently than those around us. The path is easy, but getting to the right path and living and doing things differently than others around us is the challenge. Read More→
Recently I was at an event and listened to one of the new real estate Gurus who was selling his software product he said would do everything you need to be successful buying real estate. He referred to his software as “Done for You”. He said it is the greatest thing since sliced bread. He said it would find the good deals, figure what you should pay for the property and what the repair costs will be for every property you look at without ever seeing the property. I was amazed how easy he made it sound. I couldn’t believe how many beginning investors in the audience fell for his pitch and bought his product for $997.00. I know we are in the computer age and I realize that the computer as well as our I-phones can be valuable and time saving tools in our real estate investing businesses. In the quest to simplify and broaden our profit potential tools like these can be helpful to find more opportunities.
I have seen software products presented that give the investor lists of different types of properties, their location, their price and comparables in the area. A system that helps the investor find money to fund their deals from a list of people who lend money. I have seen software that tells you how much you should pay for a property even if you haven’t seen the property. Good luck on that one. I have also seen different products that show you how to calculate repair costs from a data base of items from Home Depot and Lowes. I know for sure that there is no substitute for doing your own due diligence before buying any property and no software can adequately do that for you. Read More→
Probably the most asked question we get, but before I answer it this question must be answered…
Money For What?
Everyone is so concerned about where to get the money when the reality is most of the best deals in real estate don’t require any or very little.
You don’t need a dime to do ACTS deals or sandwich lease options. No down payment, closing costs or even earnest money.
Subject to deals usually only require closing costs, sometimes a little to the seller.
Wholesale flips require only an earnest money deposit and so do options. So raising capital is really only applicable if you intend to pay cash for houses.
Truthfully, you can spend your entire real estate career and make a good six figure income and never pay cash for a house. Many do.
Spend a little to get properly trained and it will become abundantly clear you don’t need money to make money, especially not in real estate. In fact, the minute you do raise capital you’re now at a risk. Read More→
Is your business exactly where you want it? Are you making all the money you need? If not…Network more! Opportunities lie within the people you have yet to meet. So go meet them!
Networking is one of the most important aspects of your real estate business. Always be networking. You never know when you will meet the person who has the next opportunity for you. That is why I say if you need to be doing more deals you need to be networking more.
When most people talk about networking, raising private money for deals is usually what comes to mind. Although that may be a large part of networking there are lots of things you can get from meeting new people. Good deals can be hard to find. Have you done a mail campaign? Have you called broker or agents? Have you had lunch with an apartment owner this week who may want to sell you your next deal “off market”?
Networking to meet owners of properties is a great way to boost your business and deal flow. With the apartment/real estate market rapidly on the rise and competition heating up, going directly to owners may be the fastest way to get more units. Sending letters is a great idea but owners may or may not respond. If you can get to have a meeting with them it is much more beneficial. If they are not selling today they may sell in the near future. If you know the owner it is much more likely they will sell to you. Read More→
Since 1995, Kim and I have been buying properties at the foreclosure auction. Over time, we’ve built a unique system that’s very effective. It has allowed us to buy many properties pre-foreclosure, at the auction and from banks after the auction. Today, let’s talk about how to work the pre-foreclosure market.
When it comes to foreclosures, our best deals come from buying pre-foreclosure! At the foreclosure auction, there are always investors willing to work on much thinner margins than what we’re comfortable with, and so we’re often outbid.
On the other hand, when buying pre-foreclosure – that is, before the auction – there’s very little competition. Why? When homeowners are facing foreclosure, because of unfounded fear, few investors will knock on their door.
There’s another BIG benefit to buying pre-foreclosure. Since you’re buying from the owner, there are many more creative deal-structuring tools you can use to construct a win-win deal. If you buy at the foreclosure auction, there’s only one tool – a big dang hammer…CASH! There’s no creativity, beauty or imagination when doing an all-cash-on-the-barrelhead deal – nor is it a win-win deal. Read More→
If the person at the wheel refuses to ask for directions, it is time for a new driver. ~ Jennifer Granholm
You’ve heard that old stereotype, right? Men never ask for directions. Maybe that’s because it means we’re admitting defeat. I’m not sure it’s true, though. I suspect there are lots of women who won’t ask for directions, either.
If you’re one of those people who won’t ask for directions, you’re wasting time. A lot of time. That’s time you could be finding new properties, or meeting other investors, or reading to your kids. Trust me, your competitors are asking for directions, so you’d better know how to go places!
The fact is, asking for directions isn’t a mark of defeat at all. On the contrary: it’s an opportunity to show everybody how tech-savvy and clever you are.
I’m talking, of course, about online maps and GPS (Global Positioning System). You probably already have GPS on your phone, and chances are, you’ve already put it to good use. But these apps do some pretty neat things you might not know about. Read More→
It’s hard to think of real estate as Vogue like trend-following asset, but buyers’ tastes in bricks and mortar change almost as frequently as their taste in clothes.
As investors we have to be mindful of those changes in taste. Knowing the true value of real estate is critical, trying do a deal without it and see. The guidance and data within REIAComps.com has consistently shown investors how to determine both solid acquisition value and after repair value which will get your property moved.
Back to the Five Things which add value, while classic styling will always be in, sellers of “Retail Flips”or those looking to fill “Rentals”should think about introducing ideal features to really make their investment property stand out. The following are the top five trending finishes which will add significant value or 2015.
1.) Neutrals, especially color
Bright colors made a minor splash in 2014, but neutrals are now firmly back in place. Think white and gray instead of beige and taupe for a pared down, ultra-modern feel. Limit color to small pops, but you may want to go beyond brightly colored throw pillows. Read More→
You’ve all heard the tenant horror stories from people who have had tenants in properties, but being a landlord doesn’t have to be difficult as long as you learn some strategies for handling your tenants. My husband used to say that handling tenants was like having a group of children that you have to train and discipline. But it doesn’t have to be that difficult.
You do have to make some specific rules for your tenants and stick to them. Every time you change the rules you give your tenants the upper hand. You must also have an iron clad lease that specifically addresses the issues that you may have with tenants such as getting your rent paid on time. This is one area in which I am steadfast with the rules. I don’t care what the tenant’s situation is, their responsibility is to pay me on time or they are stealing services from you without paying for them. My tenants are responsible for having the rent in our post office box on or before the date it is due or they are served with a three-day notice the next morning as required by law where I live in order to begin the eviction process. There are no exceptions. We even have tenants who send their checks to me priority mail to make sure they get to me on time.
You must also take the time to pre-qualify your tenants’ right from the beginning so you can avoid some problems right from the start. Don’t just accept a tenant into your rental property because they have the money to move in. Don’t let greed be your guide. Have your tenants fill out a specific rental application. Then you must run a tenant check with a reputable company. Don’t try to do this yourself just by looking at public records. You will miss credit issues and anything that may have occurred out of state. You need to find out the information you need to know about your tenants right from the start before renting them your unit. For example, if the tenant check shows the applicant was just evicted from another premises, this certainly isn’t going to be a tenant you want in your property. Or if your tenant has had recent felony convictions, this isn’t a tenant you want in your rental unit. If your applicant has multiple animals, this is also not someone you want in your rental unit. I will mention however, that I will allow a tenant with a small dog or cat to rent my units. I find that usually a tenant who has a pet that they have had for some time will make a good tenant who will stay longer in your unit. Read More→
Let me summarize with a question before I start writing….How many hours in your current job or situation will it take for you to make $65,000? For most, this is more than an annual income, so I know your answer would be 2,000 hours or more. I didn’t count the hours on this deal, and we haven’t closed yet, but I know it will be double digit hours, not in the thousands. If someone has told you that short sales don’t work, they either didn’t have the right partner, weren’t properly trained/educated, or……..they are lying to you because they want all of the short sales to themselves and don’t want you as competition.
My office exploded in December! I’m thinking “time off, relax, jingle bells” but I had a short sale deal that had other plans for me. I ended up at the City of Margate fighting two liens that were filed against my short sale deal, in addition to a $2,300+ water lien. Lien #1 was for a Dirty Pool and Lien #2 was because seller did “not” file a Vacant Home Affidavit, Lien #3 was the water. The total due, without the Water Lien, was over $40,000. The Lien notices were attached to the front door, which was covered like a jungle, on April 7, 2014. I represented the Seller as a Listing Agent and the Buyer as a Selling Agent. I got a Power of Attorney from the Seller so I could appear before the City of Margate and negotiate the liens. Whatever was agreed upon at that hearing would be set in stone and could not be re-negotiated. Before we could even get the City to stop assessing daily fees, the dirty pool had to be cleaned. We didn’t know there was a Water Lien of $2,300+, as the lien that was recorded was only for $500.00 but the City charges a maintenance and garbage fee monthly of $70.00 no matter if the water is on or off. Not Good! I needed water in order to drain the uncovered pool (no screen) and refill it. Read More→