Atlanta Real Estate Investors Alliance Blog
Learn to Do Your Due Diligence at Atlanta Wholesalers Group on July 21, 2015
Posted on July 14, 2015 byDue Diligence: Using the Right Numbers for Repeat Business
and Continued Profits
with Frank Iglesias
July 21st, 7PM, Hudson Grille
6317 Roswell Rd, Sandy Springs, GA
Atlanta REIA Members & Guests, Please RSVP on Meetup.com
if you have a meetup account. Non-Members can also attend at No Charge
The market is hot! But you probably already know, or have heard this. What does this mean for wholesalers?
Be excited but also be CAREFUL!!!
There are a lot of deals to be had however, hot does not always mean profitable. And it certainly does not mean that if you wholesale it, your buyer will win when they are done.
The LAST thing you want is for a buyer to not want to do business with you again because you sold them a dud. Yes, they must do their own due diligence, but so should you and do it well.
In this meeting, we will dive into numbers, numbers and more numbers of real deals that make sense for Wholesalers AND Buyers. The ARV still matters in this market!
We will dig into the following items:
- Contractor labor costs
- What kind of due diligence you should be doing in various parts of town.
- The numbers almost every single wholesaler does not take into account on new construction deals.
- How to present your Buyers solid numbers because you did your due diligence so that both sides see the big picture…
- And much, much more!
And when you are armed with numbers, you disarm the hype allowing for solid decisions to be made. Lastly, you keep your Buyers out of bad deals to the best of your ability which is key for repeat business!
Come join us as we talk numbers, ARV, and put the hype at bay by focusing on the numbers. The best money made is the confidence of a Buyer who believes in you and then gives you repeat business.
See you there!
My name is Frank Iglesias. Come join us on Tuesday, July 21st at 7PM at the Hudson Grille located at 6317 Roswell Rd in Sandy Springs as we network, do what is now our standard deal analysis at every meeting and then we will dive into our topic for the evening!
Atlanta REIA Members & Guests, Please RSVP on Meetup.com
if you have a meetup account. Non-Members can also attend at No Charge
This Atlanta Wholesalers group is primarily for wholesalers who are serious about the business and not just “trying” Real Estate out. Frank started this group to work with other wholesalers who are serious about building their business using the utmost of honesty and integrity. We are looking forward to exploring how we can grow together in our local market. We hope you will join us!
45 Ways to Find Great Deals at AIM on July 13, 2015
Posted on July 13, 2015 bywith Rateb “Rock” Shukoor
July 13th, 7PM, Hudson Grille, Sandy Springs, GA
Atlanta REIA Members Please RSVP on Meetup.com
if you have a meetup account.
Our next All Inclusive Marketing (AIM) Group meeting is Monday, July 13th at 7PM at the Hudson Grille located at 6317 Roswell Rd in Sandy Springs. There is no charge for this meeting for Atlanta REIA Members. Guests and Non-Members can pay $20.00 at the door or RSVP Online for $15.00.
Let me ask you a couple of questions:
Do you have all the deals you want?
Are you able to find enough deals to have a sustainable flow of deals to have a successful real estate busines?
If the answer is no, this meeting is for you.
If the answer is yes, and you want to improve the number of deals you want to do or just improve the quality of the deals you are doing, then this meeting is for you, too.
I will be sharing 45 ways to find motivated sellers, a few tricks and results of my campaigns as well. Marketing has been one of my strengths and I am very proud of the results I have produced over the years from most of my marketing campaigns. It is time to showcase my marketing skills again.
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 you marketing.
On July 13th, I will share 45 ways to find deal and that includes:
- Signs
- Flyers
- Direct mail
- Auctions
- Networking
- Referrals
- Court system
- Social media
- Posting ads on websites
- Classified ads
- Government sites
- And much, much more
EARLY BIRD BONUS: I believe in rewarding action takers and entrepreneurs that are willing to do what it takes in order to change their lives or have the desire to get better at what they are already doing. Therefore, I will offer some bonuses. As a special bonus this month for all “early birds,” I am offering the following:
- A digital copy of my book, “Extraordinary Results by Ordinary Investors”
- A trip for 2
- Marketing audit of your business or consulting, $250 value
This is a must attend event! We will meet at our usual location at the Hudson Grille at 7:00PM and be there until 9:00PM and then hang out and have our Late Nite Networking. I look forward to seeing you at the meeting!
Atlanta REIA Members Please RSVP on Meetup.com
if you have a meetup account.
After the conclusion of our All Inclusive Marketing Meeting, we will be hanging out at the Hudson Grille for “Late Nite Networking” to socialize and build stronger bonds. 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!
*Please Note: AIM Meeting agenda is subject to change.
The 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.
AIM is for people who 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 7:00PM at the Hudson Grille located at 6317 Roswell Rd in Sandy Springs.
Understanding Consumer Credit and How to Get Your Buyers Qualified at Atlanta REIA North
Posted on July 13, 2015 bywith Hurdis Broach
July 15th, 6:30PM
1960 Skylar Hill Dr, Suite D, Buford, GA
Atlanta REIA Members Please RSVP on Meetup.com
if you have a meetup account.
We are excited to announce that this month at the Atlanta REIA North monthly meeting, our special guest speaker will be Hurdis Broach from The Barrington Financial Group, Inc. The meeting will be held on Wednesday, July 15th at 6:30PM located at 1960 Skylar Hill Dr, Suite D, Buford, GA. . At the meeting, Hurdis will be teaching us about credit and how his company can help your potential buyers qualify for institutional financing in order to cash you out.
Where do you go to get a lease option buyer or an owner finance buyer qualified to get a conventional mortgage and cash you out? With the Mortgage Meltdown in the last few years, there are a huge number of folks who cannot currently qualify for a mortgage because of poor credit. These same people may be able to qualify in a few years with some help and guidance. Come hear from an expert in this arena as he discusses credit, how it impacts the marginal borrower, and how to resolve their issues. For more than 20 years, Hurdis has been working with lenders and attorneys to help their clients understand and improve their credit issues.
Founded in 1992 and incorporated in 1997, The Barrington Financial Group, Inc is a mortgage consulting company that specializes in assisting banking and mortgage lending institutions with their prospective home buyers who are having difficulty in qualifying for a mortgage. With over 30 years of experience in the banking, mortgage, collection, and credit industry, they have assisted well over 3,000 clients with obtaining their mortgages over the past 23 years.
The Atlanta REIA North meeting is held on the 3rd Wednesday of each month at 6:30PM at 1960 Skylar Hill Dr, Suite D, Buford, GA.. Atlanta REIA members can attend this meeting for FREE and guests and non-members can pay just $10 at the door OR pre-register online for only $5! Plan to get there early at 6PM to eat and network before the meeting begins. There will be lots of learning and lots of networking. Bring your deals and your haves, wants and needs to the event.
We look forward to seeing you at the meeting!
Atlanta REIA Members Please RSVP on Meetup.com
if you have a meetup account.
After the conclusion of the Atlanta REIA North Meeting (after 9:30PM), we will be reconvening at the Tannery Row Ale House located at 554 W Main St in historic downtown Buford, GA for the “Meeting after the Meeting”. We may arrive late if the Atlanta REIA North Meeting runs late. So please come eat, drink, network and have fun with us as hang out late into the night!
Atlanta Intown Investors Club Meets July 16, 2015
Posted on July 13, 2015 byThis Group is All About Doing Deals!
July 16th, 6PM at Wrecking Bar Brewpub
Bring Your Deals, Biz Cards & Flyers
Atlanta REIA Members & Non-Members Welcome!
Atlanta REIA Members & Guests, Please RSVP on Meetup.com
if you have a meetup account. Non-Members can attend at No Charge.
The Atlanta Intown Investors Club is a new Atlanta REIA Subgroup led by Dustin Griffin and Maggie Groholski that meets on Thursday, July 16th at 6PM at the Wrecking Bar BrewPub in Atlanta, GA. Our mission and focus is to provide an open forum for real estate investors and industry professionals to network and have direct access to hot real estate deals. The format for this meeting is totally member-centric. It’s content and value is derived from our members and guests actively participating and networking with each other during the meeting.
This meting is all about transacting and doing deals. You will have the opportunity to pitch your properties, products, and services; voice your real estate haves and wants; and participate in open discussions of real estate questions and concerns. We will not be pitching products from the front of the room. We will strive to remain a forum for investors to do deals and learn and seek advice from your peers and trusted industry professionals. The more you attend and participate, the more deals you’ll do and, the smarter we all become.
Meetings will be held on the 3rd Thursday of each month from 6PM – 9PM in the Biergarten Room of the Wrecking Bar BrewPub located at 292 Moreland Ave NE in Atlanta, GA. Dinner will be available to order as well as a wide variety of beers and cocktails. Join us for the meeting as well as dinner to support the brewpub. Stop by the valet station for FREE Valet Parking or FREE Parking Passes to park across the street.
Atlanta REIA Members & Guests, Please RSVP on Meetup.com
if you have a meetup account. Non-Members can attend at No Charge.
After the conclusion of our Atlanta Intown Investors Club Meeting, we will be hanging out a the at the Wrecking Bar Brewpub for “Late Nite Networking” to socialize and build stronger relationships. So come and join us for the Atlanta Intown 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!
The Profit Newsletter July 2015 Edition
Posted on July 2, 2015 byThe July 2015 Edition of The Profit Newsletter is available for download just in time for our Atlanta REIA Main Meeting on July 6th. There are 48 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.
Too Many Loyalty Cards?
Posted on July 2, 2015 by“I always say shopping is cheaper than a psychiatrist.” ~Tammy Faye Bakker
The other day I was in the grocery store picking up some milk. In the checkout line, the checker asked the guy ahead of me if he had one of those loyalty cards. Well, this guy took out a shoebox full of those cards – a shoebox! –and started searching through them. It took forever!
Okay, maybe I made that up. Actually, if anyone needs a shoebox for those cards, it’s probably me. And if I were to pull out that shoebox in the checkout line, I’ll bet no jury would convict the checkout lady if she shot me right then and there.
Now, just in case there’s anyone who still doesn’t know about loyalty cards, it’s time you did. They’re promotional wallet cards that big retailers and businesses give out, usually for free. When the checker scans the barcode on the back (or when you give the checker the phone number they have on file for you), you can get all kinds of deals that are only available for people who sign up. Read More→
How To Use Signage to Locate Even More Deals
Posted on July 2, 2015 bySignage is an important tool for you to use in your real estate investing business. Using signage is another inexpensive way to draw motivated sellers and deals to you. Many real estate investors find that signage can produce more deals in a year than some of the other methods they use in their businesses. Once again, you need to test and track the results in your own business. There are several different types of signage you can use. Some are permanent, some are temporary. Some are very inexpensive and some will cost more. I will discuss several different types of signage I have used in my own business.
One type of signage you can use is magnetic signs or vinyl lettering that goes on your vehicle. You can also “wrap” a vehicle with signage. Wrapping a vehicle means signage all the way around it. There are sign companies who will design this type of signage for you. This is a little more expensive and a little more permanent; however, it can be easily removed should you decide to sell your vehicle. Magnetic signs work very well, especially if you only own one vehicle. Sometimes you will be working with a seller who doesn’t want their neighbors to know they are selling their house and you will need to remove your signage before going to see that seller. Make sure your message is short and to the point since other drivers have only seconds to see your message unless your vehicle is parked. Read More→
Market is Hot? Don’t Let It Mess With Your Numbers.
Posted on July 2, 2015 byYou may have noticed that the Atlanta market in general is hot right now. Prices are going up. The newspaper is telling people values are going up. CNN, Fox and more are reporting more new developments every week it seems. If you are a homeowner, this is the news you have been wanting to hear. ‘Sellers’ market!’ is being proclaimed by agents in recent months and to a reasonable degree, that is the case.
So where does this leave you as a wholesaler? I would argue it leaves us in one of a few positions:
- Ride the wave and pay more for properties and hopefully wholesale for higher LTV’s
- Learn more about creative financing
- If you want to wholesale, stick to your formulas that you know work based on today’s values
Which is the right answer? As a wholesaler, clearly number 3 and to some degree number 2 if you want to branch out from just wholesaling. Yet answer number 1 is the answer that seems to be taken by the majority of wholesale deals that cross my desk. Read More→
Why You Should Be Using Mobile Apps with QuickBooks
Posted on July 2, 2015 byIntuit discontinued its own QuickBooks mobile app a while back, but there’s still plenty of processing power available for your smartphone or tablet.
In days gone by, running a company was a 40 hour per week proposition. You might have taken work home some evenings or gone into the office on weekends.
Those days are over, thanks to the internet and mobile technology. This fundamental change in the way we do business means that it’s now hard to get away from work. Your smartphone and tablet are usually within easy reach, and they’re always tempting you to check in.
On the flip side, that kind of 24/7/365 accessibility has numerous benefits. There are, for example, apps that can be integrated with your desktop QuickBooks company file, which enable you to: Read More→
Get More Private $$$
Posted on July 2, 2015 byUnless you are already rich and have all the cash you need to build your real estate empire, you will probably need to explore the world of private money. Private money can come in many different forms such as investor’s capital, private loans, and hard money loans. Most real estate entrepreneurs start with capital from friends and family. This may be the best place for you to start raising money for your deals. Depending on the relationships you have with your friends and family will determine if this a good place to start or not. They may be willing to join you in your deal or they may still see you as the person they remember growing up and not the new real estate mogul you are now. Regardless of their opinion the best way to start raising money from your immediate contacts is to focus heavily on your real estate education. Friends and family will know you are new to the business and may be hesitant to jump in. If they see the amount of education and work you are putting into your new business then that attitude may change.
When you are ready to start farming cash from new sources then you need to start by networking. Networking is one of the best business skills you can learn. In the beginning most people are nervous about networking. I have found that this is usually because the person is not comfortable enough discussing the subject of real estate. Again you need to be constantly working on your education. This will lead you to be able to network confidently, discuss and answer questions, and to start building trusting relationships with new investors. If you are not comfortable and confident in your ability to discuss real estate investing they will not likely be confident in you. Read More→
Are You Planning Poorly or Positively Profiting on Your Deals?
Posted on July 2, 2015 byCalculating costs to purchase, fix and resell a house has always been a downfall for many Investors. At a recent Real Estate Investor Meeting, I heard a great explanation of how people come up with their numbers. You all need to be sure you don’t fudge your numbers and fool yourself into thinking you are going to make a profit. This Article focuses on all the things you must consider when purchasing a property, such as holding costs, cost of the money, and closing costs that you will incur on properties.
When a student contacts me on a property and says “This is a great deal,” I always ask “Why do you think so?” Their response is “because.” Well….”because” is not a good enough answer. This is how I analyze a deal. First, I look for the Sold comps in the same subdivision that have sold in the past 90 days. I will then look at a total of 6 months in that subdivision. I look at square footage, garages, bedrooms, bathrooms and pools. I then look for the Active, Active with Contract and Pendings which all affect the value of my property. I budget accordingly as if I am going to hold it for at least 4 months, which is required in order to sell to a retail buyer with FHA funding. Depending on the price point, about 80% of our buyers have FHA funding. I look at the Active, Active with Contract and Pendings and note what ‘type’ of listing they are. If they are short sales, I really give weight on these sales because it’s very possible they would not be bank-approved and could sell lower or higher than list price. If they are Pending sale which is a straight sale, I can assume that they are close to list price; however, until they sell, I can’t be sure. I will then look on MLS or REIFAX and search a half mile radius to see what other comparables I can find. Based on all the comps and the repairs in which I plan on doing, I will determine if I believe the value of the home will be close to the middle value of the comparables or the high value of the comparables. Read More→
Last month, I taught you about two ways to make money in real estate. I covered retailing and wholesaling. Those two methods generally involve buying houses that are in need of repairs at a deeply discounted price. This month, I will teach you about the other two ways to profit in real estate that is considered to be the Pretty House Business.
Lease-Options – Many people are not aware you do not have to buy a property to profit from it. In the case of lease-options, we lease it from the seller with an option to buy it at some predetermined price and term. Our objective then is to install another tenant-buyer in it, sublease it for a higher price and monthly payment, then collect a non-refundable option deposit from our buyer. In my case, the minimum is usually $10,000 except on a few very low end houses where I’ll accept about $5,000. This deposit never gets returned to the buyer if they do not close. It does, however, get applied to their down payment. But if they move out of the house and don’t close on it they lose the deposit. That’s made real clear up front, and since all of our transactions are closed with an attorney, it’s made clear at the lease-option closing as well. Read More→