Archive for real estate investing
REO 101 Workshop with Andy Heller on April 30, 2011
Posted on April 22, 2011 by“Getting Rich in Today’s Market with Bank-Owned Foreclosures and ‘Rent-Smart’ Lease Options”
with Andy Heller of Regular Riches: Real Estate Riches for Regular People
Fortune Magazine is dedicated to teaching people how to make money. Come and find out why Fortune Magazine recommended Andy Heller’s Buy Low, Rent Smart, Sell High Strategy as being one of the top five strategies for building wealth through real estate. Andy will explain why his proven and diversified program for real estate investing offers investors an unprecedented opportunity for building wealth and taking control of their financial futures in today’s real estate market. Give us just 2-3 hours per week, and we will show you how easy it is to make hundreds of thousands of dollars in real estate investing.
Atlanta REIA Gold Members may attend this special event for only $10! Atlanta REIA Silver Members for $20 and Guests for $30. These are the “Early bird” pre-registration prices which will expire soon! All those who pre-register for this full day workshop will receive a FREE, signed copy of Andy’s best selling book with Scott Frank, “Buy Even Lower”. Click here to Register Now!
Saturday, April 30th from 8:00 AM to 5:00 PM
DoubleTree Northlake, 4156 LaVista Rd, Atlanta, GA 30084
Register Now before the early bird special prices and FREE Book offer expire!
Determining Property Values Workshop on April 16, 2011 with Gordon Catts
Posted on April 10, 2011 by
This workshop examines the relationship between a properties rental income and its value. This class examines the principle of substitution and explains the use of this principle in valuing single family and small income producing properties. Sources of “comparable” information will be identified. “As-is Value” will be discussed. We will examine methodology for determining what an investor should pay for a property. Selling price strategies will be covered as well as determining the target market for the property. We will discuss what to do when a property does not appraise. We will examine what constitutes a “real” comp. With the large foreclosure inventory and properties selling for considerably less than they did several years ago, it is critical to be able to look at pricing objectively and avoid overpaying for a property.
At this workshop you will hear from an appraiser who is in the trenches valuing property for banks, mortgage lenders, asset managers, investors as well as doing appraisals and review appraisals for federal institutions. His insights into the lender point of view will be of great benefit for you.
Listen to a Real Estate Agent actively involved with short sales and and his investor clients. He brings an agent’s insights into the evaluation process and how he helps determine an investors “buy price” vs their “sell price”.
Charlie Stroul, with Haines Information Services, will show us the power of the Criss Cross Plus Real Estate System, a paid service for pulling comps, as well as how to use the system for marketing to sellers.
Additionally Gordon will share a number of free sites as well as showing you how to utilize public and near public information. He will share a new information tool that few people even know exists.
Determining Property Values Workshop on April 16th, 2011
What to do at the Seller’s Door?
Posted on April 10, 2011 by
My last two real estate investing columns (“The Key is Finding MOTIVATED Sellers” & “Where to Find Motivated Sellers”) were about why and how to find motivated sellers. Last week, I said that the most effective thing I do is to simply knock on sellers’ doors. This week, let’s talk about what to do when you knock on a seller’s door.
When I’m working my area and see a “For Sale” or “For Rent” sign in the yard (NOTE: We’ve bought a lot of properties from don’t-want-to-be landlords), I stop. It doesn’t matter whether the sign is a FSBO (For Sale by Owner) or a realtor’s sign.
One thing: We don’t cut the legs out from under realtors. If we find a deal because of the realtor’s sign, the realtor deserves to get paid!
At the door, I ring and/or knock and then back out into the yard about 20 feet. I back away because I don’t want to crowd the door. Read More→
How to Buy Houses on the Courthouse Steps with Bill & Kim Cook
Posted on March 29, 2011 by
Leslie Mathis, myself and the rest of the attendees wanted to thank Bill and Kim Cook for speaking last night (3/28/11) at the Atlanta REIA West Meeting at the Cherokee Cattle Company on the fascinating topic of how to buy houses at the courthouse foreclosure auction. Bill did an excellent presentation for both new and seasoned investors. This meeting was very well attended and Bill and Kim were asked many excellent questions by the audience. Any time you see Bill and/or Kim speaking, we highly recommend you attend. They have years of experience buying and selling real estate and both specialize buying and the courthouse steps and doing short sales. Thanks again Bill and Kim!
Where to Find Motivated Sellers
Posted on March 28, 2011 by
Last week’s column, entitled “The Key is Finding MOTIVATED Sellers”, brought in a lot of calls and emails. The main thing I heard was, “Bill, you ignorant boob, of course the key is to find motivated sellers. But the hundred-dollar question is: HOW do you find motivated sellers?”
Easy answer: Work your tail off! But I’m pretty sure this answer will get me labeled as a smart alec, so let’s dig into this question a bit.
Here’s the big picture: You must let everyone know who you are and what you do. The goal is to have all the folks in your area call you if they are considering selling their property. Your next task is to separate the folks who WANT to sell from the folks who NEED to sell. And finally, when you find a motivated seller, you must be able to creatively structure a win-win deal, as well as be willing to pull the trigger quickly – ‘cause great deals don’t hang around long! Read More→
How Much Investor Discount is Enough?
Posted on March 28, 2011 byThe spices and seasonings of the gourmet real estate investor
Emeril can’t figure out where he made his mistake. He thought he was getting a great deal when he bought a house and got a 10% discount. However, he barely turned a profit on his investment.
Julia also is completely stumped. She bought a house with a 25% discount. However, after selling the property, Julia lost money.
Any cook can try to cover up a bad chicken with salt, pepper, oregano, lemon, paprika and more, but what do you have? Still a BAD CHICKEN DINNER.
In the same light, a real estate investor who starts off with too small a discount on their purchase, can try to make up for it after the purchase with hard work, fancy improvements, and eye-catching advertising. However, what will they still have? Usually, they will still have a BAD INVESTMENT.
So what are the right spices and seasonings (discounts) every gourmet real estate investor should know about? How should they be applied like gourmet chefs Emeril Lagasse and Julia Child? Read More→
Evening with an Expert Webcast Replay: Andy Heller on Buying Low, Renting Smart & Selling High
Posted on March 28, 2011 byLocal and national REO Expert, Andy Heller, talked with Jeff Nix on Andy’s “Buy Low, Rent Smart & Sell High” strategy for investing in bank owned REO properties. Andy also talked about his upcoming speaking appearance at the Atlanta REIA Main Meeting on April 4th, 2011 as well as his upcoming Atlanta REIA REO 101 Workshop on April 30th, 2011 and much more. Read More→
Alex Kramb, 15, Buys His First Investment Property
Posted on March 27, 2011 by
At our March real estate investors’ meeting, I described a mobile home in a park that we had for sale. Mouths dropped open as I showed nasty pictures of the disgusting property.
How bad was it? The home was full of dog poop. The toilet bowl was so bad that a commercial-grade sandblaster couldn’t clean it. There were gaping holes where the furnace and water heater used to be. The smell made you gag and caused your eyes to water. It was plain awful!
I asked the room full of experienced real estate investors whether anyone wanted to make an offer on this cesspool of an investment property. Heads turned away and eyes were diverted.
In the back of the room, Alex Kramb, a fifteen-year-old student at Blessed Trinity High School, stood up and said, “Mr. Cook, I’ll pay you $100 for that mobile home.” I was dumbfounded. As I pointed to the screen, I asked, “Alex, you’ll pay me $100 for THAT hunk-of-junk?” He quickly answered, “Yes, sir!”
Alex proudly walked up front. We wrote up a bill of sale, I collected $100 cash money and then handed Alex the keys. With that, Alex Kramb, at 15, bought his first investment property. Investors looked on in amazement…then cheers broke out in the room! Read More→
Being Rich is About More Than Money
Posted on March 21, 2011 byMany people think that being rich is about having enough money to do whatever you want. However, these same people miss an IMPORTANT POINT. Having millions of dollars may make you “financially rich”. However you will have lived a “poor life”, if you were a “slave to money” and did not have adequate time for family, friends, and the many other enjoyable things life has to offer. The following stories illustrate this point.
Jack’s Story
Shortly after Jack turned thirty, he married his college sweetheart. Jack was a sharp and thoughtful guy, as well as a meticulous planner. Jack saw all the layoffs happening in the corporate world, and wanted to establish a safety net for his upcoming family beyond the fragile sanctuary of his day job. He was determined to give his two kids a better quality of life than he had growing up.
Jack invested in rental homes. He also bought a sandwich shop franchise.
Over the years, Jack did make money on his real estate investments. However, he also found some very unpleasant surprises. Tenant turnover was a big problem. Repairs and re-renting the properties were eating up much of Jack’s time with his family. Especially upsetting to Jack was the weekend and evening time these properties ate up. This was time he would rather have spent coaching his son’s sports team and watching his daughter’s theatrical productions.
The sandwich shop also made money. However, Jack was surprised at how hard it was to find dependable employees. Whenever an employee did not show up, Jack or his wife often had to fill in. Several times Jack had to cancel or postpone the family vacations due to employee issues.
Yes, in the end, Jack’s investments made “good money”. However, his investments had made a significant negative impact on his family life, as well as his ability to spend time with friends and on other things he loved to do. There was many a time when he wondered whether all the extra money was worth the sacrifices he made. Read More→
The Key is Finding MOTIVATED Sellers
Posted on March 21, 2011 by
As folks pass from their thirties into their forties, they suddenly realize that sixty-five and retirement isn’t that far away. They also realize that Social Security is a great retirement plan…if the thought of living under a bridge and eating cold beans out of a can is appealing.
These realizations are why Kim and I are asked to speak to groups around the country about real estate investing. Most folks know that more people achieve financial freedom through real estate than from any other type of investment.
There are lots of reasons why real estate is a great investment/retirement vehicle. Here are just three: 1) Rental income has a very low tax rate. Remember, how much you keep is more important than how much you make. 2) Everybody needs a place to live and about 37% of Americans rent, not own, a home. 3) In the end, the tenant pays off the property for you!
We’re often asked, “To be a successful real estate investor, what is the MOST important thing that I need to do?” Easy answer: Read More→
FREE Workshop & Webinar: How to Appeal Your Property Taxes
Posted on March 20, 2011 bySave Hundreds, Even Thousands of Dollars in This Market by Having Your Property Taxes Lowered!
Lenny Ogburn has always been an entrepreneur and investor, owning a partnership in 3 video stores in the early 1990’s, owing over a dozen rental properties and self storage units, rehabbed and/or flipped over 30 properties, has invested in car notes, business notes and real estate notes.
In 1998, when he bought his present home at a great price, paying the sellers asking price and acquiring it by a subject-to deal, the county that year raised his property tax value to over $60,000 higher than the purchase price of his home. Having bought 7 properties that year, Lenny quickly realized that buying properties as an investor was tough to make cash flow from the rentals when the county jacked the values for investors and home owners.
Having lower fair market tax values helps a landlord/owner with making a property carry a positive cash-flow. Lenny dug in, learned the laws regarding property taxes, fought the counties, sometimes even taking the cases to Superior court, and wining lower tax valuations even in a rising market. Lenny has been fighting tax increase ever since and teaches other investors how to lower their property taxes.
On Wednesday, March 23 at 6PM, Lenny is going to be teaching a FREE Workshop and Webinar on “How to Appeal Your Property Taxes & Beat the County!” You can attend this FREE event live and in person at 1960 Skylar Hill Dr, Suite D, in Buford, GA (map) or on a live webcast via GoToWebinar.com. Register now for FREE and we will email you information on how to attend the webinar. Read More→
Eric Nicoll Speaking on Taxes & Wealth Building at Movers & Shakers on March 21st
Posted on March 18, 2011 by
At our next Atlanta REIA Movers and Shakers Lunch Meeting on Monday, March 21st at 11:00 AM at 5 Seasons Brewing in Alpharetta, we’ll be talking all about taxes! 2010 was a year of change with respect to tax law with a couple major iterations of new law and then an end of year “back-up” that left a great deal of the “old” law still in place. This has caused a great deal of discussion and confusion. Our special guest speaker on Monday will be Eric Nicoll, CPA, who will discuss all the changes thoroughly to show WHAT has changed and WHEN it will take effect.
Additionally, Eric likes to work with investors towards a mind-set of building wealth. We will touch on several subjects with the intention of becoming aware of the issues: Timing of Income Strategies; Character of Income Strategies; the effect of Social Security Taxes; Benefits of Long-Term Capital Rates; Installment Sales; Tax-Deferred Sales; Other Tax-deferred strategies. Tax season is upon us, so this is an informational and networking meeting you don’t want to miss!
