Author Archive
It’s Very Simple: Consistency
Posted on September 25, 2012 byHere it is the Tuesday after Labor Day, and I’m excited about the upcoming month. The market seems to be changing positively, and I am doing an increasing number of real estate deals. Also, I’m energized because I rested over the three-day holiday. I spent time with my friends relaxing and enjoying great conversation along with sharing ideas. With all of that renewed energy, I made grand plans for the upcoming week.
But, you know what they say about well-laid plans. Instead of getting to my list, I find myself trying to answer calls as the phone rings off the hook. My plan to achieve five of my goals this week is already going out the window. Suddenly I realize that I’m overwhelmed and losing sight of what I wanted to accomplish. I know that I need to re-prioritize.
Like so many of us, I am challenged on a monthly, weekly, and daily basis to figure out my priorities. I sit down at my desk ready to check things off of my list, and the fires start flaring up. I can easily lose track of what I should be doing and where I should be going.
I’m sure that most of you can relate to this. So, how can we avoid that rushed feeling of putting out fires? If we have the best intentions to accomplish our goals, of doing the next right thing, we must be able to do it while life happens around us rather than letting ourselves get caught up and losing sight. Read More→
Is This House a Deal or No Deal?
Posted on September 5, 2012 byThere is a house located in a working class neighborhood. The Realtor is offering it for $60,000. It is a 3/2 bath house in average condition, 10 years old and 1200 sq ft with a one car carport. Taxes are $950/year. Insurance is $850/year.
The repairs are quoted by a shade tree contractor for $9,500. This would get you paint inside and out, carpet, counter top, and door knobs. The roof is 10 years old, the hot water heater is 3 years old, and the bath room is 10 years old. I figure since owner does not recognize that the house smells like smoke and cat urine, the 3 cats must be smoking 2 packs day and using the whole house as a litter box. The house has a floor plan of a split foyer, average schools, and average shopping. You live 45 minutes from the house. You like your house and you are not moving. The houses in the subject house area are selling for about $59.16/ SQFT. The rents in the area are $ 875/ month. Your situation is you have $12,000 for a down payment, repairs, and everything.
What should you offer? To answer these questions…answer these questions. What is your exit strategy? How much cash do you have? How good looking are you? (This allows you to get more money) Do you know people how have cash? Read More→
The High Price of Hope
Posted on July 30, 2012 byOn June 7, Creative Loafing did an article on “The High Price of Hope”; the article talked about a man named Angel, who put himself in a financial bind in Southwest Atlanta. This is something that happens to a lot of investors. As an investor I also took a financial hit, and this is my story.
Angel’s focus was not on the alligators but was on the ether of Adair Park, the beltline, and a cheap house. He bought this shell of a house that was in a crime-ridden area with a huge number of vacancies, and prostitution for $14,000.
Angel had a lot in his favor, he was very resourceful. He knew people who worked on the city council and the neighborhood association. The architectural plans he purchased made it through code enforcement, city planning, and the bid from the contractor to build his vision. Angel is a young man, and in the real estate business, time will solve all problems. When we tap into using our relationships that will minimize our risk and maximize our potential profit are invaluable. When we are able to weather the storm through proper planning and realistic goals we will succeed. Read More→
How To Creatively Structure And Finance Win-Win Real Estate Investing Deals
Posted on June 27, 2012 by
Are you even familiar with the term “subject to deals”?
Do you know how to do “subject to deals”?
What kind of paperwork is needed to do “subject to deals”?
Are you familiar with the term option?
Do you know how to do options?
What kind of paperwork is needed to do an option?
Would you like to learn how to finance your deals without going to the bank?
On July 11th, real estate expert and leader of North Georgia REIA, Bill Cook, will be our guest speaker at the Creative Deal Structuring Group where he will show you how to put together a creative real estate deal.
Bill is going to be bringing in case studies in order to demonstrate the proper way to put a creative deal together.
Have you ever had a deal that you knew was a deal but you just couldn’t structure it correctly? Attend the Creative Deal Structuring Group on July 11th at 7 PM at the Whitehall Tavern located at 2391 Peachtree Rd NE in Atlanta, GA and learn how to do it!
Bring in your deals and attempt to stump the experts! Bring in a deal you working on right now! Don’t be shy you could get paid in 10 days. If you have ever been stumped on how to put a deal together, this is the opportunity for you.
Get there early… appetizers will be served at 6:30 PM.
Why Do You Do What You Do?
Posted on June 25, 2012 byI want to talk to you about the reason you chose to get into real-estate. The “why” we are willing to risk, and spend our resources in real estate as a vehicle to create income for ourselves will make or break the adventure.
I was working in a job and the boss passed me over for a promotion. I decided I would make enough money from real estate to buy the house across the street and on both sides of her house. Then I would rent to the house to social misfits. This would drive down her property value, make her life miserable, and I would have my pound of flesh. What happened was I made enough money on a few real estate deals to buy the house across the street from hers. When I had accumulated that money my goals changed and I bought something which would make more money rather than seeking revenge.
When people go the big seminars of the national speakers they get excited. The speakers stress financial independence, paying off the credit cards, creating a legacy for your children, vacations, and more time with the family. These are all good reasons to become involved in real estate. The truth of the matter is only a few of these items will keep you in the game when luck runs out. There are a few reasons that will keep you passionate about what you do, when the times get hard. I put together a goal to make enough money to have the beautiful women on the infomercials, like Tom Vu. I realized quickly that I had the best friends money could buy. This was not inspiring. Read More→
Seven reasons why you need a coach!
Posted on June 6, 2012 by
Overcoming Fear. When I first got started in the real estate business I had a tremendous amount of fear. There was the fear that prevented me from placing the ads, the fear that prevented me from making offers, and the fear that paralyzed me to the point that I was not able to move forward in a real estate investing career.- Knowing The Numbers And Exit Strategies. After I made my first 50 offers I overcame that fear. After I got an agreement accepted I had the fear of not knowing what I was going to do with the property and whether or not it was going to be profitable. The exit strategy is the plan. The exit strategy defines what your profit is and how much profit there will be. Once I was able to get a handle on the exit strategies and refine the numbers my career started to take off. Read More→
Get Your Cash Flow from Oprah’s Knowledge… Unclaimed Money!
Posted on May 15, 2012 byOprah Winfrey knows about a $40 Billion Dollar niche, and Russ Hiner has the Insider’s Secrets on how you can get your piece of the pie! Ever wondered what happens to the all of the money at a foreclosure sale when there’s a bid over the amount of the mortgage? What about when there’s an over bid at the tax sale-where do those funds go? Russ will show us where there’s money that’s FREE for the customer, and abundant for you.
Russ is speaking at Atlanta REIA West on coming Monday, April 21st. Here’s what you’ll learn at this very special evening:
- Where to find this $40 Billion Dollar niche that the Government is not entitled to.
- These funds are called “surplus funds”, “overages”, “excess funds”, even “unclaimed tax sale funds”.
- Why the Government calls it “escheating” when they take this money into their accounts!
- Gain an understanding of how this simple process works
- Where to find your share of this specialty niche
- Where and how to find who this money rightfully belongs to.
- How to talk to the prospects who are entitled to receive funds—so you can convert them into your customers
- Learn how to counsel your customers to give them their money, so you can get paid
- Learn how to build credibility for yourself… quickly
- Where to find the resources to get this done for you, so you can cash checks over and over again!
There are 12 only competitors in the USA. It is not just here in Georgia — It’s in ALL 50 states! If you could use some money flowing in on a consistent basis, you don’t want to miss this. Mark your calendars NOW to join us on Monday, May 21st at The Cherokee Cattle Company in Marietta. Dinner and networking, at 6:30 PM, program starts at 7 PM. See you there!
Creative Deal Making – The Keys and Tools to Structure Winning Deals in 2012
Posted on April 16, 2012 byImagine taking any sales lead you get and creating a winning deal out of it. Making thousands of dollars where you thought there were none. No more wasted marketing dollars. No more wasted phone calls. That used to be just a dream. But not anymore.
Join Don DeRosa at the Creative Deal Structuring Group meeting on May 2nd at 7PM at the Whitehall Tavern (formerly the Cheyenne Grill) located at 2391 Peachtree Rd NE in Atlanta, GA as he shares with you his Real Estate Insider Secrets and the state-of-the-art tools he uses to evaluate deals and make them work – for him and for the seller.
As Don unveils his Insider Secrets, he’ll share with you the buying and selling strategies that are working for him right now, in 2012. Yes, he’ll show you the secret tools he uses to create profitable deals, even when there appears to be nothing there to work with. You’ll have abundance of deals to choose from! Plus he’ll show you how he gets the information to evaluate a deal, wherever is he, so you’ll never waste time with leads you shouldn’t spend time on and beat other investors to the most profitable deals.
Don will walk through real world examples, actual deals, to demonstrate step-by-step how to apply these “secrets” and tools. In fact, 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… Read More→
Deal or No Deal #2?
Posted on April 3, 2012 byNever compare yourself with others. You never know what is going on behind the face. We will look at a person who has a job and likes what they do. They don’t plan on leaving their job and living off their investments. They will be able to buy through a realtor and pay a premium. I love to have these individuals in my wholesale stable.
The house is three bedroom/ two bath in a lower moderate income area (such as Mableton, Lakewood, Decatur, Norcross.) The price is $80,000, top of the market, with no equity. The buyer will pay 25% as a down payment. The interest rate is 5%. The principal balance is $60,000. The P& I payment will be approximately $322.09. Taxes will be $1000. Insurance will be $500. The payment for T&I is $125.00. The total payment is $447.09/ month. If the house rents for $825, the cash flow is $377.91 per month. This is great!!! Let’s look at the other side. It looks like 22.6% cash on cash return. (YES!) Read More→
Deal or No Deal #1?
Posted on April 3, 2012 byIt was 3:30 PM on a Friday afternoon in 1984. I was thinking about the weekend, and my primary goal was to move a new tenant into one of my rental units. The phone rang, and I proceeded to talk to a desperate seller. I went through my property information sheet, and the deal sounded too good to be true. I was excited. Here was an opportunity to purchase a three bedroom, one bath house in Decatur for $15,000. The property was a 1960’s brick ranch in average condition. All three of the mechanical systems were in place, and the roof was 10 years old. The rent on the property was $700.
The total amount of money in the transaction would have been $25,000, all in price. The return on investment cash on cash would have been 33.6%. It would’ve taken three weeks get the property market ready. The retail price of the home would be $65,000, and it would sell in three months with a net profit of $33,500. Read More→
Maximize Your Assets & Minimize Losses Through Better Property Management
Posted on October 5, 2011 by
In these tough economic times, we need to maximize our assets and minimize our losses. That is why great property management is essential. When we spend the time to screen a tenant properly on the phone, we are truly saving money. Our need to be more efficient and effective at answering the calls from potential tenants allows us to be able to spend time with our family. When you are already spread thin by work, and family your ability to create a system to screen, meet and decide if that applicant should move into your property is vital. When a bad tenant moves into your property the cost can be exorbitant. Read More→
