Archive for July, 2014

Joint venturing is a great way to invest in real estate. In our situation, a private lender lends all the funds to purchase the property and all the renovation costs. Knowing the investors criteria, it is our responsibility to identify and contract real estate investments opportunities, deal with the contractors and exit the project. Once a property is identified and acquired, it is time for the renovation. This is where the joint venture can become a bit more complex.

The relationship in a joint venture is clear cut until it reaches renovation. This is where a project can go from being a 1-2 month renovation to a 3-4 month renovation. Keep in mind that the majority of the joint ventures you do as a veteran investor will be with newbie investors or investors who have never done real estate investing. However, they always tend to have opinions on how to run a project or what should go into a renovation. Once in a while you may joint venture with a seasoned real estate investor who no longer wants to be involved in the day to day operation but they usually will be. To avoid these issues here are 5 tips to keep the joint venture running smoothly. Read More→

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Make Money with Other Wholesalers

Posted on July 28, 2014 by

Do you think that the other wholesalers in your town are your competition?  Not if you position yourself as a useful ally.  Other wholesalers can be wonderful resources to help you grow your wholesaling business.  So what do I mean by positioning yourself as a useful ally?

First of all, be useful.  Bring value.  In wholesaling you are either providing the Deal (the property at a great price) or you are providing the Buyer.  Or both.  If you have one but not the other, you may want to consider teaming up with another wholesaler.

Example #1:  You have a friend of a friend (Billy Buyer) who has just inherited $100K and wants to buy a fix and flip property at a wholesale price.  You have heard of wholesaling, but haven’t really done any deals yet, and haven’t been doing any marketing – so obviously you have no deals that are your own.  You have another friend (Harry Wholesaler) who has started marketing for wholesale deals, and has found a sweet deal – way under market value ($55K) that would work great as a fix and flip and meets Billy Buyer’s criteria.  But Harry Wholesaler has no buyers.  So you step in and put Harry’s deal under contract with an assignment (for $60K total).  Then you go ahead and assign that deal to Billy for a FEE (for $65K total).  $65K is still a great deal for Billy Buyer and you and Harry make $5K each for putting together the deal. Read More→

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How to Add Real Estate to My IRA

Posted on July 28, 2014 by

There’s nothing out there that quite offers the unique advantages of direct investment in real estate:

  • Tangible value
  • Potential for substantial income from rent
  • Potential for capital appreciation
  • Effective safeguard against inflation
  • Extensive availability of leverage
  • Ease of borrowing against the asset for other investing
  • Effective hedge even against economic collapse

REAL ESTATE IRA BASICS

The good news is, though, is that it’s quite easy to hold real estate – actual, tangible real estate – within your IRA, provided you adhere to a few basic rules. Read More→

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Recent indicators clearly show home values in nearly half of the country’s largest metro areas will not reach their pre-recession peak levels again for another three years or more. The data I have been seeing using REIAComps during the first half of this year are proof the recovery is still very much in its middle stages.

Nationally, home values remain double digit percentages below their 2007 peak. Looking ahead, U.S. home values are expected to rise through the early part of 2015. Really though, It will take another 3+ years for national home values to recover their pre-recession levels, assuming a steady rate of appreciation. And this is not every where. Las Vegas will take another decade.

For those of you already connected to REIAComps, the control and feeling of confidence you have over your deals is priceless. These new statistic add power and knowledge to your tool belt. Using REIAComps to investigate the value of houses as they come to market, against other less reliable sources continues to be a no brainer. Read More→

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No One Cares

Posted on July 28, 2014 by

This is one of the most powerful business lessons that I have learned. That may not be what you were expecting to read but let’s face it…its true. No one cares about you, your business, your services or you in general. The one thing that people always care about is their own problems and finding solutions to those problems. Now let’s put that into the real estate world.

Whether you are interested in commercial real estate or single family homes…people still only care about solving their own problems. They don’t care about your investment or doing business with you or what deal you may be working on. They care if you can solve a problem for them and that is the root of becoming wealthy in the real estate business. If you can master the art of creatively solving problems then the financial doors to financial freedom and cash flow will swing wide open for you. If you view real estate and the world at large as a place to serve yourself, the doors to wealth will stay firmly shut. You may be able to force your way into the business world with self-serving actions but why? Why not have all the people who have what you want just simply give it to you and say “thank you” when you take it?

Everything you want in the real estate world is likely to be owned or controlled by someone else. There is no more free land in the world waiting for you to run out and stick a flag in it. Everything is owned. Now you job is to go out and get those sellers and owners to “give” you what you want. You do this by solving problems. Here are some very common problems in the real estate world today. Read More→

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It is the goal of this column to answer questions about QuickBooks and how it is used in the REI arena. Knowing how to record transactions in the proper way and have your set of books in good shape when it comes time for taxes. It is our intention to do this with you, the members, submitting questions to Karen@smallbusinessadvisor.biz, and getting answers here in this column.

Q: I am new to having my own business – just what is accounting?

A: Accounting is the process by which financial information about a business is recorded, classified, summarized, interpreted, and communicated to owners, managers, and other interested parties. An accounting system is designed to accumulate data about a firm’s financial affairs, classify the data in a meaningful way, and summarize it in periodic reports called financial statements. Owners and managers obtain a lot of information from financial statements. The SBA helps to:

  • establish the records and procedures that make up the accounting system
  • and/or may supervise the operations of the system

Once the books are in good order they can then be passed on to the CPA to either work with the owner to suggest strategies and/or prepare taxes. Most owners and managers rely heavily on the CPA’s judgment and knowledge when making financial decisions. Read More→

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Mon, July 28th @ 6:30 PM near Marietta, GA
Atlanta REIA West
Is Fear Stopping You From Talking to Buyers, Sellers & Making Offers?
Learn to Tame the Fear Monster!
with Leslie Mathis

Leslie MathisIs the fear of talking to sellers stopping you from making offers? Are you afraid that your good deal is not really a good deal? Are you afraid of rejection? Are you worried that you don’t have the money to close or won’t be able to find a buyer? Are you afraid you will screw up a deal and get sued? Are any of these fears or others stopping you dead in your real estate investing tracks?

Having fear is normal, it is built into your DNA. Fear is designed to keep us from unnecessary harm. However, some fears can keeps us from doing the tasks we need to do in order to become successful. Would you like to know the ways to tame these crippling fears?

If so, be sure to join us at Atlanta REIA West on Monday, July 28th at 6:30PM at Cherokee Cattle Company located at 2710 Canton Rd in Marietta, where Leslie Mathis, will be presenting to you several different ways to tame the fears you have when it comes to real estate investing.

Leslie will be showing you techniques that you can use right away to tame your fears. The difference here is tame, not eliminate. Take action, learn to achieve your dreams, and DO NOT MISS this event!

You will learn:

  • How Fear Stops Investors Dead In Their Tracks
  • How To See Yourself As A Success
  • To Rid Yourself Of Self-Doubts
  • How To Stay Focused And Overcome Your Fears
  • And Much, Much More…

Leslie Mathis is a published author, teacher, trainer, and mentor. For the better part of thirty years, Leslie has studied wealth creation and harnessing the power of the subconscious mind to obtain goals not only in real estate, but in every area of life. She combines her success in real estate with her designation as a Licensed Professional Counselor and background in teaching, training, and counseling to provide a unique interactive mentoring experience that ensures success for her students.

If you have the strains of fear tugging at you right now, if your fears are holding you back from achieving success in the field of your choice, then this is unquestionably the right event for you!

Atlanta REIA members this meeting is FREE. Non-Members $10 per person.

*Event Agenda
6:30 pm: Networking, Ordering & Introductions
7:00 pm: Welcome and Upcoming Events
7:20 pm: Haves and Wants Session
7:35 pm: Main Presentation, Taming The Fear Monster with Leslie Mathis
9:00 pm: Prizes & Giveaways plus Closing Comments

*Please Note: Meeting agenda is subject to change.

The Atlanta REIA West Monthly Meeting is an Atlanta REIA Subchapter led by Leslie Mathis that is held on the 4th Monday of each month at 6:30 PM at the Cherokee Cattle Company restaurant located at 2710 Canton Road in Marietta, GA. Show up at 6:30 PM to eat and network before the meeting officially starts at 7:00 PM. Buying your own meal is optional but highly recommended and greatly appreciated since the Cherokee Cattle Company allows us to use their meeting room. There will be lots of learning and lots of networking. Bring your deals and your haves, wants and needs to the event. Leslie is also one of the leading coaches for the Atlanta Homebuyers Society.

Please join us on the 4th Monday of each month at Cherokee Cattle Company located at 2710 Canton Rd, in Marietta.

See Atlanta REIA Events Calendar for More Events!
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Wed, July 16th @ 6:30 PM in Buford, GA
Atlanta REIA North Meeting
Show & Tell: Online Assets
For Real Estate Investors
with Gordon Catts

Gordon CatttsWe are pleased to announce that Gordon Catts will be the presenter at the Atlanta REIA North is a of the Atlanta Real Estate Investors Alliance that meets on the 3rd Wednesday of each month at from 6:30 PM to 8:30 PM at 1960 Skylar Hill Dr, Suite D, Buford, Georgia in North Gwinnett County just a few miles from the Mall of Georgia. There is no charge to attend this meeting for Atlanta REIA members and the cost is $5.00 at the door for non-members.

On Wednesday, July 16th at 6:30PM, Gordon 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. He will walk you through the process of getting the legal description used in writing a contract and on the deed. Gordon 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!

Come join us on Wednesday night and learn how do your due diligence when buying from a 40+ year seasoned investors. Also, be sure to bring your deals, business cards and flyers for Show & Tell! We hope to see you at the meeting!

Taco MacLate Nite Networking: After the conclusion of the Atlanta REIA North Meeting (after 9:30 PM), we will be reconvening at the Mall of Georgia located at 3250 Woodward Crossing Blvd in Buford, GA for the “Meeting after the Meeting”. We may arrive late if the Atlanta REIA Meeting runs late. So please come eat, drink, network and have fun with us as hang out late into the night!

See Atlanta REIA Events Calendar for More Events!
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Mon, July 21st @ 6:00 PM in Sandy Springs, GA
Beginning Investors Group
Learn the Secrets to Getting
Started in Real Estate Investing

with Russ Hiner

All Members & Guests Must RSVP Online to Attend
Members Attend for FREE and Guests for $15 Online or Pay $20 at the Door.
Guests can join Atlanta REIA for Only $100/year and Attend for FREE!

Russ HinerIf your goal is to become a successful real estate investor, you need a diverse set of tools in your toolbox that will help ensure your success. To learn about the investors tools you need to succeed, be sure to join us on Monday, July 21st at 6:00PM at Hudson Grille located at 6317 Roswell Rd in Sandy Springs with real estate expert Russ Hiner.

Russ Hiner has spent 30 years reaching his goals and becoming an expert. He has worked with Rich Dad and Russ Whitney as a mentor for 13 years. Russ actively plays the real estate game including working every day doing wholesales, buy & fix sells, lease options, rentals, notes and deeds, and loaning private and commercial money. Russ is an absolute expert at making YOU an expert! He also is the leader of Atlanta REIA’s Creative Deal Structuring Group and has an article in Atlanta REIA’s monthly newsletter, “The Profit”.

RSVP Now!

Russ will be revealing the tools he uses in his real estate investing business as well as his system called P.L.A.N.S. where you will learn:

  • P. Property Acquisition
  • L. Liquidate The Property
  • A. Accelerate Your Business Through Automation
  • N. Next Step Using Tools To Help In Your Investing
  • S. Success

Russ knows what action to take. He can lead you in the right direction to achieve success in the real estate business. How do you know that Russ can help YOU? Because he has helped others. Russ uses proven methods to help you evolve, change, and build your skill set. He will show you at BIG on July 21st, the essentials you need to advance your investing business. If you want to learn how to get started in real estate investing the right way, join us at Hudson Grille in Sandy Springs at 6PM.

*Event Agenda
6:00 pm: Networking, Haves and Wants & Introductions
7:00 pm: Welcome and Upcoming Events
7:25 pm: Prizes & Giveaways
7:35 pm: Main Presentation with Special Guest Speaker, Russ Hiner
9:05 pm: Closing Comments &amp Late Nite Networking

*Please Note: Meeting agenda is subject to change.

Click to view Cruise VideoWIN A CRUISE: All participants who attend the BIG Meeting can enter into a drawing for a chance to win a *Complimentary 2 Day Cruise to the Bahamas with Caribbean Cruise Line! *You must be present at the meeting to win. The 2 day Cruise does not include port fees, transportation and taxes.

If you become an Atlanta REIA member before 11:59PM, July 20th, you may attend this dynamic meeting for free, plus great discounts on other Atlanta REIA meetings and Workshops.

About the Beginning Investors Group (BIG)

BIG is an educational and networking special interest group, hosted by Alan McDonald, and Dustin Griffin for new investors who are just getting started in real estate investing as well as “new again” real estate investors who’ve taken a few years off and are looking to start investing again. The entire purpose of this group is to educate and inspire new investors working on their “first deal” and help new again investors get their “next deal”.

Please join us on the 3rd Monday of each month at Hudson Grille located at 6317 Roswell Rd in Sandy Springs.

See Atlanta REIA Events Calendar for More Events!
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Mon, July 14th @ 7PM – Hudson Grille, Sandy Springs, GA
All Inclusive Marketing (AIM) Group
Is Direct Mail Marketing Dead???
with Rock Shukoor on July 14th
at Hudson Grille, Sandy Springs, GA
Atlanta REIA Members & Guests Can Attend This Month at No Charge!

Rock ShukoorIs Direct Mail Marketing Dead? To find out more and find out the truth about direct mail and why it is not working for many people, join us at the All Inclusive Marketing (AIM) Group on Monday, July 14th at 7:00 PM at the Hudson Grille located at 6317 Roswell Rd in Sandy Springs.

Rock says “In this meeting I will be sharing my experience with Direct Mail and I will show you some examples of what you can do to get a very high response rate. I have had up to 13% response rate from my pre-foreclosure campaigns and some other campaigns I have put together. The market is changing and it is almost a sellers market now. You, as a real estate investor must know how to find deals. In a buyers market that skill is not that important as deals are everywhere. When you are in a sellers market, you must have this skill, otherwise you will always be at the mercy of other investors like myself who can find deals. I will explain the whole process, the small but vital details, bring samples of some of my most successful campaigns, and most of all, how to automate it.”

Rock will teach you…

  • What to do to get your mail open
  • How to cut trough the clutter
  • How to stand out and beat your competition
  • How to get up to 13% response rate
  • What bonuses to offer
  • What to do to make your phone ring after the mail is opened
  • What market to choose
  • How many pieces of mail to send out per person
  • What is the magic number in direct mail
  • Where to get the list from
  • And much, much more

We will also hanging out after the meeting to socialize and build stronger bond. Come join us!

Rock's BookBONUSES FOR ATTENDING: Rock has some special bonuses for all those who show up early or on time: (1) a digital copy of his book, “Extraordinary Results by Ordinary Investors”, (2) a digital copy of his book, “Go Mobile Now Or Die!” and (3) a 30 point marketing audit of your business ($250 value).

Late Nite Networking After AIM Meeting

Late Nite NetworkingAfter the conclusion of our All Inclusive Marketing Meeting, we will be hanging out a the Hudson Grill for “Late Nite Networking” to socialize and build stronger bond. So come and join us for the AIM Meeting and be prepared to stay late and network and have fun with like minded real estate investors, marketers and other professionals late into the evening!

About the All Inclusive Marketing (AIM) Group

All Inclusive MarketingThe Atlanta REIA All Inclusive Marketing (AIM) Group (formerly known as the “I Love Marketing” group) is a new networking and educational meeting led by Rock Shukoor and Dustin Griffin for like-minded real estate investors and small business owners who enjoy marketing and are interested in taking their business to the next level through creative marketing techniques.

Rock Shukoor & Dustin GriffinAIM is for people who want to want to get together, learn and discuss marketing challenges, strategies and opportunities. Although many of the examples we cover at the meetings will be geared towards real estate investors, the techniques and strategies learned can easily be applied to any business. AIM meets on the 2nd Monday of each month at 7:00 PM at the Hudson Grille located at 6317 Roswell Rd in Sandy Springs.

AIM Meeting Agenda*
7:00 pm: Arrival, Seating, Ordering Food & Networking
7:30 pm: Welcome, Introductions &Announcements
8:00 pm: Main Presentation with Guest Speaker
9:00 pm: Meeting Wrap Up
9:30 pm: Late Nite Networking for Real Estate Investors & Marketers

*Please Note: AIM Meeting agenda is subject to change.

See Atlanta REIA Events Calendar for More Events!
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Tue, July 15th @ Noon in Atlanta, GA
The Onsite Renovation Group
Meets Tuesday, July 15th at NOON
233 Kinsey Court NE, Atlanta, GA 30305

233 Kinsey Court NE, Atlanta, GA 30305This month, on Tuesday, July 15th at NOON, the Onsite group will meet at a project that is in a large house that has been divided into apartments located at 233 Kinsey Court NE, Atlanta, GA 30305 (Units A & C). Craftbuilt has been hired to update two of the apartments. The renovation on Unit A is just getting started this week. Unit C, in the basement, is nearing completion. So join us this week for your chance to see 2 rehabs in different stages of renovations.

Onsite Renovation GroupThe Onsite Renovation Group, led by Aaron McGinnis of Craftbuilt Properties, is an new educational and networking group that focuses on the acquisition, renovation and retail resale (fix and flip) of single family residential homes inside the I-285 perimeter and the in-town neighborhoods. The purpose of this group is to allow both new and experienced rehabbers and investors to meet, network and share knowledge and experience with “hands on” access to real property. The Onsite Renovation Group meets on the 3rd Tuesday of each month at NOON at an active renovation site, build site or rental property which will vary from month to month. There is currently no charge to attend these meeting.

See Atlanta REIA Events Calendar for More Events!
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Happy 4th of July!

Posted on July 4, 2014 by
Happy 4th of July from Atlanta REIA!

Happy 4th of July

The 4th of July not only marks our Nation’s Independence Day, but it also serves as Atlanta REIA’s 4 year Anniversary. We started Atlanta REIA four years ago to not only celebrate our life, liberty and pursuit of happiness, but also the pursuit our Financial Freedom and Independence with other like-minded investors. So we want to extend a big THANK YOU all those who serve in our military and make our dreams and pursuits possible. We also want to thank all those who have joined us over the past four years to make our organization what it is today. Thank you and God Bless America!

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