Atlanta Real Estate Investors Alliance Blog

The March 2015 Edition of The Profit Newsletter is available for download just in time for our Atlanta REIA Main Meeting on March 2nd. There are 40 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.

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When I hear someone say that success is easy, it always raises my BS sensors.  It really concerns me when someone says this, but then I have to look at myself because I say this as well.   The difference is, I really mean it.  But in order for success to become easy, you’re going to have to play a different game than most.

I’m not suggesting that becoming successful requires no work and that there are no struggles, but when I say that The Road to Success is Easy, I’m suggesting that when someone has a plan and they follow it, that success is attainable to all, and it can be done in a relatively short period of time.

We live in a world in which we idolize success and as a result we pursue it with all that we have.  As a culture we have defined success as having a lot of money.  We want it so badly that we look for shortcuts, we’ll compromise our values, and we’ll tear down things that are important to us in order to attain it.   We’ll go into debt.  We’ll buy things we don’t need to impress people we don’t care about.   What we all really want is life.  We want freedom.  We want to be able to spend time doing and experiencing the things in life that provide the most fulfillment, however, most of us today have given up any hopes of this life in pursuit of the almighty dollar. 

What we teach at Lifeonaire is that if we will simply follow a plan, that success is easy.  It’s an easy road.  What we have found is that the world around us is pursuing success every other way, that what makes pursuing the path to success difficult is that we have to go against the grain and do things differently than those around us.  The path is easy, but getting to the right path and living and doing things differently than others around us is the challenge. Read More→

Recently I was at an event and listened to one of the new real estate Gurus who was selling his software product he said would do everything you need to be successful buying real estate. He referred to his software as “Done for You”. He said it is the greatest thing since sliced bread. He said it would find the good deals, figure what you should pay for the property and what the repair costs will be for every property you look at without ever seeing the property. I was amazed how easy he made it sound. I couldn’t believe how many beginning investors in the audience fell for his pitch and bought his product for $997.00. I know we are in the computer age and I realize that the computer as well as our I-phones can be valuable and time saving tools in our real estate investing businesses. In the quest to simplify and broaden our profit potential tools like these can be helpful to find more opportunities.

I have seen software products presented that give the investor lists of different types of properties, their location, their price and comparables in the area. A system that helps the investor find money to fund their deals from a list of people who lend money. I have seen software that tells you how much you should pay for a property even if you haven’t seen the property. Good luck on that one. I have also seen different products that show you how to calculate repair costs from a data base of items from Home Depot and Lowes. I know for sure that there is no substitute for doing your own due diligence before buying any property and no software can adequately do that for you. Read More→

Probably the most asked question we get, but before I answer it this question must be answered…

Money For What?

Everyone is so concerned about where to get the money when the reality is most of the best deals in real estate don’t require any or very little.

You don’t need a dime to do ACTS deals or sandwich lease options. No down payment, closing costs or even earnest money.

Subject to deals usually only require closing costs, sometimes a little to the seller.

Wholesale flips require only an earnest money deposit and so do options. So raising capital is really only applicable if you intend to pay cash for houses.

Truthfully, you can spend your entire real estate career and make a good six figure income and never pay cash for a house. Many do.

Spend a little to get properly trained and it will become abundantly clear you don’t need money to make money, especially not in real estate. In fact, the minute you do raise capital you’re now at a risk. Read More→

Is your business exactly where you want it? Are you making all the money you need? If not…Network more! Opportunities lie within the people you have yet to meet. So go meet them!

Networking is one of the most important aspects of your real estate business. Always be networking. You never know when you will meet the person who has the next opportunity for you. That is why I say if you need to be doing more deals you need to be networking more.

When most people talk about networking, raising private money for deals is usually what comes to mind. Although that may be a large part of networking there are lots of things you can get from meeting new people. Good deals can be hard to find. Have you done a mail campaign? Have you called broker or agents? Have you had lunch with an apartment owner this week who may want to sell you your next deal “off market”?

Networking to meet owners of properties is a great way to boost your business and deal flow. With the apartment/real estate market rapidly on the rise and competition heating up, going directly to owners may be the fastest way to get more units. Sending letters is a great idea but owners may or may not respond. If you can get to have a meeting with them it is much more beneficial. If they are not selling today they may sell in the near future. If you know the owner it is much more likely they will sell to you. Read More→

Since 1995, Kim and I have been buying properties at the foreclosure auction. Over time, we’ve built a unique system that’s very effective. It has allowed us to buy many properties pre-foreclosure, at the auction and from banks after the auction. Today, let’s talk about how to work the pre-foreclosure market.

When it comes to foreclosures, our best deals come from buying pre-foreclosure! At the foreclosure auction, there are always investors willing to work on much thinner margins than what we’re comfortable with, and so we’re often outbid.

On the other hand, when buying pre-foreclosure – that is, before the auction – there’s very little competition. Why? When homeowners are facing foreclosure, because of unfounded fear, few investors will knock on their door.

There’s another BIG benefit to buying pre-foreclosure. Since you’re buying from the owner, there are many more creative deal-structuring tools you can use to construct a win-win deal. If you buy at the foreclosure auction, there’s only one tool – a big dang hammer…CASH! There’s no creativity, beauty or imagination when doing an all-cash-on-the-barrelhead deal – nor is it a win-win deal. Read More→

If the person at the wheel refuses to ask for directions, it is time for a new driver. ~ Jennifer Granholm

You’ve heard that old stereotype, right? Men never ask for directions. Maybe that’s because it means we’re admitting defeat. I’m not sure it’s true, though. I suspect there are lots of women who won’t ask for directions, either.

If you’re one of those people who won’t ask for directions, you’re wasting time. A lot of time. That’s time you could be finding new properties, or meeting other investors, or reading to your kids. Trust me, your competitors are asking for directions, so you’d better know how to go places!

The fact is, asking for directions isn’t a mark of defeat at all. On the contrary: it’s an opportunity to show everybody how tech-savvy and clever you are.

I’m talking, of course, about online maps and GPS (Global Positioning System). You probably already have GPS on your phone, and chances are, you’ve already put it to good use. But these apps do some pretty neat things you might not know about. Read More→

It’s hard to think of real estate as Vogue like trend-following asset, but buyers’ tastes in bricks and mortar change almost as frequently as their taste in clothes.

As investors we have to be mindful of those changes in taste. Knowing the true value of real estate is critical, trying do a deal without it and see. The guidance and data within REIAComps.com has consistently shown investors how to determine both solid acquisition value and after repair value which will get your property moved.

Back to the Five Things which add value, while classic styling will always be in, sellers of “Retail Flips”or those looking to fill “Rentals”should think about introducing ideal features to really make their investment property stand out. The following are the top five trending finishes which will add significant value or 2015.

1.) Neutrals, especially color

Bright colors made a minor splash in 2014, but neutrals are now firmly back in place. Think white and gray instead of beige and taupe for a pared down, ultra-modern feel. Limit color to small pops, but you may want to go beyond brightly colored throw pillows. Read More→