Atlanta Real Estate Investors Alliance Blog
Are You Ready For Your Taxes To Be Prepared?
Posted on January 30, 2015 byApril 15th — tax day — will be here before you know it. Actually, most businesses need to file by March 15th and there are a number of special things small-business owners need to be aware of when preparing their taxes this year. Let’s take a look at four areas that may affect your business’ 2014 tax return.
The Affordable Health Care Act
Most people know that businesses with more than 50 employees will be heavily impacted by the Affordable Health Care Act. But what about companies with only a few employees? It turns out that if small companies want to provide health insurance for their employees, they may be eligible for increased tax credits this year. Check it out with your CPA.
Section 179 Tax Deduction
The Section 179 Tax Deduction allows business owners to write off equipment in the same year they bought it. But the $500,000 limit of 2013 was reduced to just $25,000 for tax year 2014. However, Congress passed the Tax Extenders Bill in mid-December, restoring the $500,000 expense limit. President Obama is expected to sign it into law, but has not done so yet (see “Tax Incentives Extended,” below). Read More→
New Year… New Plan?
Posted on January 30, 2015 byThe great thing about being in real estate is that it always changes, keeps you interested and forces you to adapt to the ever changing market. At the same time, these exact things are what keeps many people from becoming real estate investors. Each year you should look back at the previous year’s performance and take note of what made you the most profit. Once the most profitable part of your business is identified, it is time to figure out if the market is going to permit that part of the business to perform the same for one more year.
Last year, 2014, was an amazing year for anyone in real estate. Agents, wholesaler, investors, bird dogs, etc. were all making a killing. Agents listed a home and it was immediately in “highest and best.” Wholesalers were selling properties as high as 90% LTV. Investors were able to sell any renovation project they listed even if the workmanship was not the best. Our workmanship surpassed most competitors and caused our homes to sell in single digit days on market. I refused to get involved in all the hype and stuck to my criteria. In the end, there were many very successful investors. My partners and I bought, fixed, and sold more properties this year than previous years. In 2015 we will continue to buy, fix and sell. Not because it worked in 2014 but because in December 2014 our housing inventory reached a record low 2.5 month supply. As long as our market housing inventory stays low, buying, fixing and selling should be a revenue stream in your real estate business. According to the National Association of Realtors, “the national inventory of single-family homes is 5.1 months of supply.” This inventory level still justifies flipping homes in most markets. Once the market you are in reaches a constant 6 month supply or higher you may want to start looking into holding/renting in the near future. Read More→
Is A Modification Offer An Enforceable Contract? Appellate Court Says Yes!
Posted on January 30, 2015 byAlmost every real estate investor who buys short sales or pre-foreclosures has heard this story a hundred times. A homeowner requests a loan modification from the bank, the bank grants a “temporary” modification, payments were made and accepted, then bank changes its mind and forecloses on the homeowner for not making the full, original mortgage payment. It has been happening every day since the economic crisis began, leading millions of homeowners into foreclosure. This was business as usual for years, until a recent appellate court ruling that modification offers are in fact enforceable contracts that must be honored by the banks.
In this case, Wells Fargo offered a temporary modification to a homeowner. The offer was accepted, and the trial payments were all made and accepted. Wells Fargo then disavowed the modification settlement under the claim that it lacked consideration. Wells Fargo then went ahead with the foreclosure. The trial court ruled that Wells Fargo was correct by saying that there was no consideration. The appellate court reversed that ruling, declaring that there was more than enough consideration. This ruling has led to hundreds of cases in which trial and appellate courts have enforced the modification agreements ignored by banks. Read More→
We Can Raise The Rents!
Posted on January 30, 2015 byRents are on the rise in most markets today. This is a great way to increase overall revenue and value of our deals. In this article I want to discuss the reality of raising rents and increasing values of our multifamily properties.
As I stated rents are naturally on the rise but raising rents is not always as easy as it may seem. “The rents are below market” seems to be the mantra of realtors today. I can’t remember the last time I looked at a property that the agent didn’t tell me that I could raise the rents and make a lot more cash flow. I agree in a lot of cases the rents could have been raised but rarely can it be done for free.
On average rents can be raised by 1-3% per year without any upgrades needing to be done. This is what we call the “annoyance raise”. When analyzing a deal and considering a rent raise as a “value add” component we need to look at several factors and ask one very important question, “why are the rents currently low?”. In most cases I don’t find that the current owner hates money and just won’t raise the rents because they just love the tenants so much. Your agent may want you to believe that something like this may be the case and you can just magically raise rents but it usually doesn’t work that way. Read More→
Why Asking Price Is In The Comparable Sales
Posted on January 30, 2015 byAsk any Realtor how he or she prices houses, and you will hear a version of the following statement: “Well, I look at the comparable sales and then I …”
The same answer would include potential buyers, lenders, brokers and even appraisers. The data within REIAComps has consistently shown investors how to determine both solid acquisition value and after repair value for residential real estate.
Now, in the defense of Realtors, using comparable sales (“comps”) to price listings is what they were taught. Find the (3)“closest”comparable sales, make some adjustments for the differing features and use this analysis to arrive at an asking price for the home.
Truly, Appraisers typically use the same technique, as do most county assessor offices. Free broker and agent lead generation web sites like Trulia and Zillow apply similar inputs to their valuation algorithms. The comparable sales method has been in use for the measure of my career, and I am approaching 20 years in the valuation business.
A comp flatly, is a closed sale sharing as much similarity as possible with the home being valued. A good comp will be a recent sale of a similar type of property from within (or nearby) the subject property’s neighborhood. In theory, the more similar the comparable sale, the more power it has. The base logic behind using comps to price goes something like this —if House A sold for $X, House B sold for $Y and House C sold for $Z, then your house should sell for some adjusted average of the three. The catch is, the comps used are the most appropriate ones available.
But, we have to ask, is this really accurate? Read More→
Atlanta REIA Meeting on Making Big Money in Distressed Properties with Reggie Brooks
Posted on January 27, 2015 by& Vendor Trade Show
Atlanta REIA Members Can Attend at No Charge. This month,
Guests Can RSVP Online Now for $20 or Pay $25 at the Door.
We are excited to announce that Reggie Brooks will be our special guest speaker at our Atlanta REIA Main Meeting on Monday, February 2nd at Atlanta Unity located at 3597 Parkway Lane in Norcross, GA. Reggie is the foremost vacant, abandoned and distressed property specialist in the USA. He is also an international speaker, author and educator, dedicated to inspiring others to achieve personal success through real estate investing.
Having risen above a life of poverty, Reggie has achieved what many people consider to be impossible… making over $40,000 per month in his real estate business. At the meeting, Reggie will teach his personal philosophies and strategies for success.
You’ll learn how to make thousands of dollars over and over again so you can call your own shots and write your own ticket in your own life. He will teach you how you can quickly and easily explode your income with unwanted, vacant and distressed properties, without money, credit, or a job! You will learn how to automate the process of finding the properties, the owners and create a profitable business where you get sellers chasing you, rather than the other way around.
Here’s some of what you will learn at the meeting…
- How to make $10,000 by next 30 days on an unwanted, vacant property!
- How to use Government Programs that help other people while you make substantial profits.
- How to use the Internet to invest in real estate – from the comfort of your own home.
- Uncover hidden value in properties that even seasoned investors overlook!
- How to invest with no cash or credit!
- Insider secrets that the professional investors use to turn $15,000 profits into $50,000 profits and more.
- Hot new tips and insights into how the professionals find deals in today’s competitive market!
- Strategies you could be using right now to create bigger profits and increased cash flows!
- How to profit from properties that most real estate investors consider worthless!
- And much, much more!
Come join Reggie and the rest of us at the Atlanta REIA Meeting on Monday, February 2nd at 5PM at Atlanta Unity located at 3597 Parkway Lane in Norcross, GA to learn how to profit from investing in unwanted, vacant, distressed properties.
Atlanta REIA Members Can Attend at No Charge. This month,
Guests Can RSVP Online Now for $20 or Pay $25 at the Door.
WIN A 4 NIGHT STAY IN CANCUN: All participants who attend the Atlanta REIA Meeting will entered into a drawing for a chance to win a *Complimentary 5 Day, 4 Night Stay in Cancun! *You must be present at the meeting to win. Giveaway does not include dining, transportation, transfers, taxes, upgrades, etc.
*Please Note: Meeting agenda is subject to change.
& Exit Strategies
Rock Shukoor and Russ Hiner, both of who are active real estate investors, trainers and coaches, hosting the meeting before the meeting on February 2nd at 5:00 PM. They will be teaching different offer and exit strategies that you can make investing in real estate. They will discuss the pros, cons and pitfalls of each strategy. They will also cover the different profit sources of each strategy.
They will also share how to find great deals, how to buy and fund them, how to sell or hold them and make great income and create the lifestyle you dream of though real estate investing. If you want to learn to invest in real estate, this is where it all starts and ends. Learn to live the life that many dream of and only a few achieve.
BONUSES FOR ATTENDING: Rock and Russ haves some special bonuses for all those who show up to the meeting on time: (1) a digital copy of Rock’s book, “Extraordinary Results by Ordinary Investors” and (2) a complimentary one-on-one consultation with Rock or Russ ($495 value).
At 5:00 PM in the Main Lobby, we have a Vendor Trade Show that lasts throughout the meeting where you can come out and meet many of our participating Business Members and Vendor Guests who help sponsor our meeting. See a full list of our vendors and sponsors below as they are added.
Vendor tables are limited, so any vendors wanting to reserve a table for the meeting can RSVP for a Vendor Table here. Vendor tables are reserved and setup on a first-come, first-serve basis.
Starting at 6:15 PM, Dustin Griffin kicks off the Atlanta REIA Main Meeting with updates and announcements. Dustin covers what’s happening at Atlanta REIA in the upcoming weeks and months such as upcoming workshops, webcasts, special events, members benefits and much more! Be sure to be in the main meeting room at 6:15 PM for your chance to be one of the first to receive a printed copy of The Profit Newsletter while supplies last.
At approximately 6:30 PM, Joe Thompson will be hosting the Haves & Wants Speed Marketing Session which gives our members the opportunity to quickly market deals they HAVE and to find deals they WANT. We also give our business members the opportunity to get up and say a few words about their businesses. Members who want to participate in the Haves & Wants Marketing Session must bring your flyers and get to the meeting early to get on Joe’s list of participants.
After the conclusion of the Atlanta REIA Main Meeting, we will be reconvening at Three Dollar Cafe located at 6050 Peachtree Pkwy #100 in Norcross, GA at 9:30 PM for the Late Nite Networking and the “Meeting-After-The-Meeting”!
There is no charge for Atlanta REIA Members or guests to attend Late Nite Networking at the Three Dollar Cafe, so bring a friend and head on down to Late Nite Networking! Just be sure you order food and beverages from the cafe and please tip their wait staff generously.
Networth Realty of Atlanta, LLC – A licensed, full-service residential wholesale brokerage that specializes in finding quality wholesale properties and making them available to you. Read More>>
American IRA – The American IRA mission is to provide the highest level of customer service in the self-directed retirement industry.
Read More>>
Halperin Lyman, LLC – A transactional real property law firm devoted to providing the full spectrum of non-litigation related real estate legal and consulting services to its clientele. Read More>>
Goldmine Properties, Inc. – As Atlanta’s first full service real estate wholesaler, we offer wholesale property at 65% loan to value, with financing available. Purchase price and repairs are 65% of certified after repaired appraisal. Read More>>
Advanta IRA Administration – With the help of your local Advanta IRA staff, use your IRA to invest in assets you know, understand and control, such as real estate, notes & mortgages, private placements, and much more! Read More>>
Lima One Capital, LLC – A fully capitalized, direct lender for residential real estate investors and homebuilders. We are fully capitalized and our team prides itself on closing loans quickly for our clients. Read More>>
The Small Business Advisor – A full service small business consulting firm specializing in QuickBooks with a wide variety of specialized services, trainings and products for small businesses. Read More>>
Craftbuilt, Inc. – We are a Metro Atlanta design-build construction firm specializing in whole-structure renovations, restorations, and new construction. No matter what the situation, we are up to the challenge! Read More>>
CRS Data – We offer comps from the MLS & FSBO’s, custom searches, property tax records, interactive maps, sales & mortgage info, real estate valuations, mailing lists & more. Read More>>
DirectBuy of Atlanta – We are a private members-only buying club that gives you huge buying power by eliminating mark-up and the middleman, saving you thousands of dollars and up to 50% or more over retail and online sales prices. Read More>>
Georgia Home Deals – Jack Kudron of Georgia Home Deals offers professional counseling on buying, selling, renovating and refinancing investment properties. He also offers a wide variety of wholesale and lease/option deals. Read More>>
Century 21 Results Realty Service (Scott Swanson) – Century 21 Results Realty Services is like no other real estate company and that is our promise to clients and customers. Our associates are the experts in the Atlanta area.
Air Conditioning Experts, Inc. – For all your air conditioning services throughout Atlanta, contact Air Conditioning Experts. We have all the training and experience necessary to ensure the success of your home cooling system.
Island REIA Winter Retreats – Dave Biddison from Dream Trips will be at the Meeting to tell you about our first annual Island REIA Winter Retreat that we just returned from as well as our upcoming Island REIA Summer Retreat which is just around the corner. Read More>>
Atlanta Carpet Services, Inc. – Providing carpet, wood, vinyl, and tile, ACS is dedicated to every aspect of your floor covering needs from initial consultation to the sale and follow-up services. Read More>>
Fuller Center for Housing of Greater Atlanta – A faith-driven, Christ-centered, non-profit organization dedicated to providing adequate shelter for people in need in the Greater Atlanta area. Read More>>
Learn How to Avoid the Tenant From Hell at EPIC
Posted on January 27, 2015 by
Come join us at the Peachtree City EPIC Group on Tuesday, January 27th at 6:30PM at Green Ginger Asian Fusion Restaurant located at 200 Market Place Connector in Peachtree City, GA where Trent Ratliff will be teaching you how to avoid the tenant from hell and how to better screen your tenants before you rent your property to them.
About Trent Ratliff:
- Senior Property Manager
- RMP Designation (Residential Management Professional)
- Atlanta NARPM Board of Directors
- Atlanta Property Management market for the past 7 years
- Manages over 500 single family homes
- Graduated from the University of Georgia with a Real Estate Finance Degree.
After the conclusion of the Atlanta REIA EPIC Meeting (after 9:00 PM), we will be hanging out at the Green Ginger Restaurant for Late Nite Networking also known as the “Meeting After the Meeting”. So please come eat, drink, network and have fun with like-minded investors and real estate professionals as we hang out late into the night!
The EPIC Group, which stands for “Education, Properties, Income and Community”, is a Peachtree City Real Estate Investing Group that is all about buy and hold real estate investing, long term income and building your net worth. The meeting takes place at the Green Ginger Asian Fusion Restaurant located at 200 Market Place Connector in Peachtree City, GA. The host for this event is Donna Littleton, Broker & CEO of Solutions Realty Network, and her husband Chris Littleton. There is no charge for Atlanta REIA Members and currently no charge for non-members as well.
Making Big Profits in This Market Workshop on Feb 7th, 2015
Posted on January 26, 2015 byA Full Day Workshop with Reggie Brooks
Sat, Feb 7th, 9Am-5PM at Keller Williams*
200 Glenridge Point Pkwy, Ste 100, Sandy Springs, GA
My name is Reggie Brooks and I am an international trainer, author, coach and an active real estate investor. On Saturday, February 7th, I will be teaching a Full Day Workshop with Atlanta REIA on “How to Make Big Profits with Abandoned Properties in Today’s Market” where I will teach you how you can make $10,000 cash in the next 60 days.
I will teach you how to find these vacant and distressed properties, find the owners, and structure a transaction that is mutually beneficial to both you and the seller. You will learn how to automate the process of finding the properties and the owners, and create a profitable recurring business that will change your life.
Join Me at the Workshop and You Will Learn How To…
- How to buy with No Money Down, No Credit, No Loan Apps or Payments
- How to locate and buy Undervalued Properties
- How to find, buy and sell Pre-foreclosures and Foreclosures
- How to find and get Government Grants and buy at Government Auctions
- How to effectively deal with real estate agents and real estate brokers
- How to minimize taxes on your wholesale deals
- The 10 Best Ways to find low-priced properties and sell them for high profits
- How to fix up your properties without needing a ton of money and credit
- How to inspect and estimate repairs
- What to offer to guarantee your profit
- How to find eager cash buyers for your deals
- How to get to the closing and get paid $5,000-$10,000 cash without a dime out of your pocket
- How to be an ethical wholesaler
- How to create a great retirement plan, even if you’re over 65 and haven’t started yet
- How to build a cash-flowing investment business in no time, starting with just pennies
- And much more…
PLEASE NOTE: The 2 for 1 Early Registration Special is limited to spouses, adult children and corporate partners. Non-Members after early registration expires. Non-Members who join Atlanta REIA between February 1st – 6th, 2015 can attend the workshop for FREE. Also, Atlanta REIA Members who renew their membership for an additional year between February 1st – 6th, 2015 can attend the workshop for FREE as well. When joining Atlanta REIA or renewing your membership, please indicate that you want to attend the workshop at no charge. You can join Atlanta REIA at http://membership.atlantareia.com. Meeting facilities provided by Deborah Harris of Keller Williams Realty First Atlanta. Contact Deborah for all your commercial or residential real estate needs at 404-272-9827 or AtlantaRealty@KW.com. Thanks Deborah!!!
And there is more! Read More→
Learn the Thoughts and Habits of Successful investors at Atlanta REIA West
Posted on January 17, 2015 byWhat Winners Do, Thoughts And Habits Of Successful Investors.
with Leslie Mathis & Catherine McFarland
Come join us at the Atlanta REIA Wild Wild West Group on Monday, January 26th at 6:30PM at Cherokee Cattle Company located at 2710 Canton Rd in Marietta, and start your new year in the right direction!
Highly successful investors, business owners, and entrepreneurs have very different thoughts and habits than most other people-that’s the key reason WHY they are super-achievers! Are you new to real estate and want to start off in the right direction? Are you doing everything you know to do to get deals done, and things just aren’t coming together for you?
Are you getting back in the game only to find your business isn’t growing as fast as you’d like it to? Then you need to be at The Cherokee Cattle Company in Marietta on Monday January 26 at 6:30 pm–you don’t want to miss this one! We’ll share WHAT WINNERS DO that others don’t. Be seen there!
After the conclusion of the Atlanta REIA WEST Meeting (after 9:00 PM), you are encouraged to hang around and join us for Late Nite Networking also held at Cherokee Cattle Company. So please come eat, drink, network and have fun with like-minded investors and real estate professionals as we hang out late into the night!
*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. Atlanta REIA Members can attend for FREE and guests for $10.00. 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.
Onsite Renovation Group Meets on January 20th at Noon in Atlanta
Posted on January 14, 2015 byMeets Tuesday, January 20th at NOON
576 John Wesley Dobbs Ave, Atlanta, GA 30312
This Month, on Tuesday, January 20th, 2015 at NOON, the Onsite Renovation Group property located at 576 John Wesley Dobbs Ave NE, Atlanta, GA 30312 where we are doing a new construction. In October we met at this same job site. At that time it was a vacant lot where we had just demolished an old house and had begun preparation for the new construction. We are now in the process of framing the new two story house. We are using trusses for the floors and roof. If you do not know the difference between using trusses and doing “stick built”, you can learn about it on Tuesday! Join us to hear Aaron talk about the unique challenges of demolition and new construction. The project is in the Old Fourth Ward, which is a neighborhood that has suddenly become hot because of the proximity to the Beltline and the Ponce City Market development in the historic Sears building. Don’t miss this meeting that should prove to be very informative on some new topics we haven’t addressed before!
The Onsite Renovation Group, led by Aaron McGinnis of Craftbuilt Properties, is an 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.
Learn How to Make Offers at the Beginning Investors Group on January 19, 2015
Posted on January 12, 2015 bywith Regina Sitterley
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!
New investors have many questions. Questions that could be used as an excuse to not make a move to do the deal. You have found what you believe is a winner. The numbers look good, it’s in a nice neighborhood with great schools. What may happen next is where a lot of new investors choke. How do you make the offer? What is a good offer? What do you say? Is it a contract? What should be in it? Is there a template or “offer form”?
If you want to know how to construct an acceptable offer, then join us at the Beginning Investors Group (BIG) on Monday, January 19th, at 6:00PM at Hudson Grille located at 6317 Roswell Rd in Sandy Springs and let Regina Sitterley, a successful, dynamic local investor, show you how she creates her offers and gets them converted into contracts! RSVP NOW!
You will learn:
- What SIX Items You Need For Each Offer
- How To Listen To A Seller
- What Questions To Ask To Craft The Best Offers
- Making An Offer That Works For All Parties
- And Much, Much more!
Every month through 2015, BIG will have an interactive segment featuring topics to help new and even some experienced investors get another step closer to closing that first or next deal.
This month (January): Construct Your Offer.
After the conclusion of the Atlanta REIA BIG Meeting (after 9:00 PM), we will be hanging out at the Hudson Grille for Late Nite Networking also known as the “Meeting After the Meeting”. Stay around, have some dessert, a drink, network and have fun with like-minded investors and real estate professionals as we hang out late into the night!
*Please Note: Meeting agenda is subject to change.
If you become an Atlanta REIA member before midnight, January 18th, you may attend this BIG Meeting at no charge as well as other great Atlanta REIA Meetings, plus get great discounts on other Atlanta REIA Workshops.
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.
The Ice Man Is Coming and He Will Freeze Your Pipes
Posted on January 8, 2015 by
Atlanta Houses are not designed to handle sustained temperatures in low single digits. With low temperatures and higher winds the wind chill over the next several days will be brutal.
If you have vacant houses you might consider antifreeze in the traps, drain water lines where you can and drip faucets.
Even occupied homes with the heat on are not immune to frozen pipes.
Years ago after a severe cold spell I had a bucket full of short lengths of split copper pipes. We had cut them out of my houses when we repaired the “frozen pipes”. The problem is not when they freeze, it’s when they thaw.
Today I will be purchasing twenty five dollar portable electric space heaters and ceramic tiles to set them on. I will be making sure that cabinet doors in kitchens and baths are open. I will tape notes on the cabinets reminding folks not to close them. The note will be taped on such that in order to close the door the note will have to be moved. I will make sure that laundry rooms have adequate heat and that doors are open. I will use space heaters where necessary.
Anywhere that plumbing is in an outside wall I will be sure to drip the faucets.
Remember to be very careful with space heaters you do not want a fire. I will place space heaters on the ceramic tiles I purchase. I do not want to place a heater on carpet, vinyl or wood.
