Author Archive
Coach’s Response: What Are Your Four Answers?
Posted on September 2, 2013 byAs the market improves, I have more and more people coming to me for coaching. I am excited about this because it means that you are taking responsibility for your success. You are reading my articles, and you are talking with me to achieve what you want in your life.
One thing that I continually ask new investors to do is reflect on each deal, each interaction, each transaction. This allows you to see what was successful so that you can apply it again and thus achieve even more success.
Here is what I have found that will make our relationship even better (and thus your experience and profit even better): ANSWERS.
Before I can truly help you, there are…
Four Answers You Must Know
- How much Money is in it for YOU?
- What are you buying?
- What is the owner’s story?
- What is the area?
You MUST have these 4 questions answered
BEFORE I can help you make a deal.
Recently someone I was coaching came to me with what he thought was a great deal. Read More→
Getting Back Up – Making Failure into Success
Posted on July 31, 2013 byIt is as easy to succeed as it is to fail. Why does this sound untrue? Because most of us forget that we have a choice: we can enjoy the good and overcome the negative. What we must remember is that when we encounter something that we initially see as negative, we have a choice about how to react.
Did you know that Harland David Sanders, the famous KFC “Colonel”, couldn’t sell his chicken? More than 1,000 restaurants rejected him.
Or that Walt Disney was fired by a newspaper editor because he “lacked imagination and had no good ideas”?
Or that Henry Ford’s first auto company went out of business?
What made these people successful after so many “failures”? Read More→
Working Asset Protection
Posted on June 27, 2013 byRecently, I heard a talk show host say that all properties should have their own LLC and that a corporation should own all of the LLCs so that it will be the umbrella under which the LLC’s are safe.
Let me offer another point of view that, after years of experience, I can say has worked for me and for people whom I coach on a daily basis.
The reality is that an LLC for each property is impractical. The main reason is that each LLC would have it own tax return. This gets costly and tedious.
Compromise is the solution: Why not have a 3-in-one LLC that covers the good, the bad, and the ugly? Hear me out–an LLC is good because if someone tries to sue, by law the person has to take all or nothing; he cannot cherry pick. If you have a property that you just bought and it turns out to be a liability, it will balance out the GOOD property. And, the UGLY is a property whose cash flow is barely at fair market value.
If I am doing the buy, fix, and sell, this is an easy system. If the LLC is for long term holds and all the properties are “great”, then I have a chance to lose everything in that LLC. In this case, I create another LLC. Read More→
Is Atlanta’s Real Estate OK or is Atlanta Burning?
Posted on May 31, 2013 byFirst-quarter results of the Atlanta real estate market are in! If you’re an investor who is determined to buy real estate right now, while things are hot, then this information is definitely for you!
So let’s get down to – or into – business!
Make no mistake:
The Atlanta real estate market isn’t just hot – it’s burning
– and YOU can be successful more now than ever.
As I predicted in January, the market has turned, and the news media is being positive. There are markets/price points that are hot, and the competition—your competition–is cash. Experienced investors are hungry! They can’t get enough property. I’m excited–how often do you get to sell everything you touch?
But to be successful, you must be accountable. You need to have answers if you’re going to succeed:
- Where are YOU as an investor right now, in this market—the one we have all been waiting for?
- Are you where you want to be?
- Are you asking yourself questions and, if you are new to this, are you asking the right questions?
Deal or No Deal?
Posted on May 1, 2013 byI’m excited. I am using new techniques and they are working!
Where do I learn new techniques? Recently I took training because I know that change is one of the key factors of staying ahead of changes in the economy, the market, and life in general. I chose trainings about lease options and 0% owner financing. Each of these gave me a new in my tool in my belt – a tool to help me to make more money.
But understand, for any scenario to work, I MUST know my plan.
I assume that you want what I want: to maximize my profit potential. So, we are interested only in the properties that will help us do this. We must make choices with this in mind.
Here is a scenario to show you concrete ways of deciding… Read More→
Attitude + Action = Wealth
Posted on March 26, 2013 byOnce again, we are at the end of the first quarter. Over time, I have asked you to make a plan, do your research, and utilize your mentor’s skills. Now I want you to consider something essential. As a mentor, I have begun to ask people these questions:
What kind of relationship do you have with money?
How does this affect your success?
Think about it. Many of us were programmed to see money as the root of all evil. We think that people with money are corrupt and greedy—and yet we want what they have! How can you achieve wealth when you believe it is bad? You are contradicting yourself, aren’t you?
Do you continually shut yourself down with thoughts like “I can’t afford that”? If so, how can you think this and simultaneously expect to attract wealth into your life?
The answer is that you can’t.
I can help you to see that you can.
Are You David or Are You Goliath?
Posted on February 28, 2013 byLast month I mentioned that there has been a turn in the market. A recent Creative Loafing article confirmed the information that I gave you—that the market is looking different than it has in a long while. Many people are afraid of another bubble. And in the last few articles, I’ve asked you to plan, to have a strategy, to do your research. And maybe you’ve made that plan. Maybe you’ve done that research.
But here is the nature of our business: just when you think you have it figured out, it changes. So we have to ask ourselves anew: How can I continue to make money? How can I get in on the current market and live well? The answer is that you need to know what is ahead.
But if you’ve not encountered this kind of change, then you can’t make an informed guess. One opportunity for success is to become David. You can go it alone which is very risky. Or you can work smart: get a mentor. Work with someone like me who has survived battles with Goliath before. Read More→
2013: A Year of Achieving Your Goals with PAC
Posted on January 30, 2013 byEvery New Year’s Day, people consider what they want to accomplish in the following year. Well, we are now 30 days into 2013, and I am sure that you have reflected on 2012. What resolutions did you follow to success? What results have you seen from last year’s work?
At the beginning of 2013, I reflected on what I considered success. Like many of you, I realized that I want to improve my monetary, financial, relationship and problem-solving skills because these lead us to success. What is success in 2013? ACHIEVING MORE OF YOUR GOALS.
We all know that success in our business means learning new tricks, tips, and techniques. We must accumulate knowledge and power. We must achieve a superior capacity to think and act effectively through presentations, best practices, and strong strategies. We must have a highly competitive advantage: a platinum value. But how do we strengthen the skills that we MUST have? Read More→
Atlanta Real Estate Market Has Hit Bottom!
Posted on January 1, 2013 byIsn’t that a great headline! Wouldn’t it be great to have hit the real estate bottom in Atlanta?
We all know that the real estate market in any city is micro economic. This means that you can pick an area that is white hot… and within one mile of that location you will find an area that is dead like week old fish. You need to know where the white hot areas end and the dead fish areas begin: these are micro-niches. You need to find the micro-niches—YOU NEED INFORMATION, information that I can help you find.
If you are an investor who is determined to buy real estate immediately, then this information is for YOU.
Okay, you’re determined, but you don’t have $200,000 stuffed in your mattress, and you’re nervous about investing. Everyone is, but the good news is that the market is looking better and better—and there are experts like me in the field with good information.
But you need to move quickly. In the metro Atlanta area, investors are buying properties at a rate of 60% of the total sales. This is a buyer’s market. You need to get in the game NOW! Read More→
Jim Hitt Speaking at the Creative Deal Structuring Group on Jan 9, 2013
Posted on December 29, 2012 by
Jim Hitt will be our special guest speaker this month at the Creative Deal Structuring Group on January 9th (NOT Jan 2nd as usual) at 7PM at the Whitehall Tavern in Atlanta.
Jim talking about how to use your IRA and others IRAs to make money! What it would be like to structure a deal using other peoples money/ IRA?
If you have one or know someone with a retirement account, come join us to get insider information on how to put these funds to good use. Learn what this can do for you and your business! Read More→
“Free” Kittens?
Posted on November 28, 2012 byLast week, I was offered some very cute “Free Kittens.” They were small, playful balls of fur tumbling over each other and looking up at me pleadingly. I’ve had cats before, so I was tempted. But even considering the benefits, I refrained because I know that there is no such thing as “free.”
As I walked away from the kittens, I considered the idea that if something looks too good to be true, it probably is. This holds true with real estate deals also: they may look great in the heat and excitement of the potential purchase, the promise of a great deal, the money that we know we will make.
The truth is, however, that kittens need continuous care: food, shots, and attention. Similarly, a real estate investment needs supervision: maintenance, unforeseen challenges, and renovations.
Every day, “deals” that are not deals are presented to me. You will also encounter these “deals,” but be careful. Your ability to discern a good deal from a bad deal comes only with experience, research, knowledge of the market, and a business plan. When you have each of these components in place, you will be able to distinguish a truly great deal from a “Free Kitten DEAL.” Read More→
Staying Smart
Posted on November 1, 2012 byThe Atlanta real-estate market has finally hit bottom which means that things can only go up. How do I know that? Stupid money has returned: once again, people are willing to pay too much for properties, and banks are willing to look the other way. In fact, there is big money from hedge funds that are allowing people to buy many properties at once. What this means for us, the agents and small investors, is that we face more competition for the properties which are priced right.
So what do we do? We arm ourselves with research. Without knowing what we are up against, we cannot make informed decisions that will keep us in the game.
First, when you find a superstar, they become your benchmark: you do research and find out their business model. But studying them is not enough; you must take action by mirroring what they do to be successful. Read More→
