Atlanta Real Estate Investors Alliance Blog
Better Get Into Real Estate Investing ASAP
Posted on May 31, 2014 bySo in the spirit of John Schaub who spoke at Tampa REIA last month and his message – to “build wealth one house at a time” – it is now my new mission to do just that. After 70+ wholesale flips in the last year and a half, I’m now fully comfortable with the fact that it’s time to get into “Buy and Hold” investing. I know, I know – it’s sooooo NOT sexy. True, but after hanging out with Larry Harbolt and Pete Fortunato and other “buy and hold” investors over the last 2 years, I finally see the light.
Now don’t get me wrong, I will probably always wholesale houses here and there, and today it’s still our Bread and Butter that pays the bills, but it’s time to build that cash flowing rental portfolio. This is for our future nest egg, our retirement, our passive income that will pay our bills for the rest of our lives. Any future excess money we make will go into rental properties (for the foreseeable future). Crazy huh?
Have I lost my mind? What has changed? When I first started out in real estate I really didn’t want to get into rental real estate. It just didn’t appeal to me. I figured we could make our money doing Wholesale Flips, Fix & Flips, and Lease Option flips. Well we can still keep doing that, but it’s time to put any excess money into rental real estate – or into private lending. Read More→
True Cost of Money
Posted on May 31, 2014 byIf you invest in real estate you have been told time and time again that the key to success and longevity as an investor is OPM, other people’s money. Whether you are borrowing the entire investment amount or just leveraging your own money you need to know the true cost of money. Some costs are obvious and known up front such as the points, interest, late fees, penalties, etc. but there are other costs that borrowers need to take into consideration.
When borrowing money to invest in real estate most investors first turn to hard money. If you are familiar with hard money you know it is expensive. Most hard money lenders charge 4+points or more and about 11%+ interest. If you do the math this is an expensive way to go but it is a great place to start until you find better terms once you have experience. You should also keep in mind that most hard money lender’s terms are usually 6-12 months which should be much more than you will need if you have a plan and execute it, at the same time it does add some pressure. With these lenders you know what you are getting for the most part but what about the cost that you are told about but may not have considered, especially if it is your first time using this type of loan. When using hard money you are REQUIRED to purchase one or more of the following: survey, inspection, subject-to appraisal and/or termite inspection. These are great to have but the cost for each of these can get expensive if you did not plan for them. Many hard money loans if not all of them are also now requiring borrowers to pay/escrow at least 3-6 months of property taxes. Others have begun to charge loan servicing fees as well. Another cost to consider is the cost of each inspection done every time a draw is made from the repair escrow. I have seen an inspection repair draw cost anywhere from $150- $400 per inspection. These inspection costs are done only when you request a draw from your repair escrow so it is in your interest not to request too many draws. Wait, there is more. Many people do not like to think about this but what if the term of your loan ends but you are still holding the property? Is there a fee to extend the loan? In most cases the answer is yes. Once you begin to add these costs and multiply them by the number of deals you want to do per year you will see the amount of potential profit that is spent on a few necessities and the rest wasted on garbage fees. Read More→
Is Today’s QuickBooks Right For You?
Posted on May 31, 2014 byIt 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: Where can I buy QuickBooks?
A: QuickBooks Software is available in most retail stores where computer software is sold. We recommend purchasing a CD copy of the software (versus a download copy) in case of computer issues later on. Warehouse clubs also offer competitive pricing.
Q: Can Quicken do the same thing as QuickBooks?
A: Quicken is specifically designed to handle personal finances while QuickBooks handles small business finances. Each product is tailored (features, reports and workflows) to meet the needs of those specific audiences. Read More→
Learn to Renovate Houses with Robyn Thompson at Atlanta REIA on June 2nd
Posted on May 23, 2014 byat the DoubleTree in Roswell
Learn How to Turn Foreclosures, Estate Sales & Houses That Need Renovations Into Fast Cash!
Atlanta REIA Members Can Attend at No Charge. This month,
Guests Can RSVP Online Now for $20 or Pay $25 at the Door.
Atlanta REIA is excited to announce that Robyn Thompson will be our special guest trainer this month on Monday, June 2nd at 5PM at the DoubleTree Roswell located at 1075 Holcomb Bridge Rd in Roswell, GA. Robyn is the nation’s leading expert on buying properties at deep discounts, renovating them at lightning speed and selling them quickly for huge chunks of cash.
Robyn has rehabbed over 355 properties in her 16 years of investing and the majority of her profits were made on properties that were in a depressed market. Robyn will be teaching cutting edge strategies that will produce huge profits in today’s competitive real estate market.
At the meeting, Robyn will teach you…
- Her Buying Machine
- Where to Find Properties to Rehab for Huge Profit
- The 9 Types of Houses to Never Buy
- An Overview of the Rehab Process
- Locating and Hiring the Best Contractors to Get the Job Done
- 9 Critical Paragraphs to Writing an Iron Clad Contractor Agreement
- Prescreening & Controlling The 8 Contractors on A Dream Team
- The Magic Buying Formula to Ensure Huge Profits
- The 3 Critical Steps to Selling Houses in a Down Market
- The 21 Critical “WOW” Factors to Make the Home Sell
- 8 Marketing Strategies to Attract “A” Credit Buyers
- How to Prescreen Buyers in 4 Minutes to Make Sure They Qualify for a Loan
- The Two Most Important Mortgage Ratios to Qualify Your Buyers
- How to Avoid the 5 Pitfalls of Selecting an FHA Buyer for Your Home
- And much, much more!
As you can see, this will be an evening packed full of excitement and education. Anything Robyn doesn’t cover at the meeting, she will cover at the Saturday Rehab Workshop on Saturday, June 7th from 9:00AM to 5:00PM where she will spend a full day teaching you “How to Quick Turn Houses That Need Renovations”. We look forward to seeing you at the Monday Atlanta REIA Meeting and the Saturday Workshop!
SPECIAL BONUS: Robyn also has a very special bonus for those who attend our meeting while supplies last. She will be giving away a brand new CD Called “The Best Houses to Flip vs The Best Houses to Hold” which covers the 6 critical steps to analyze deals to determine the best exit strategy.
*Please Note: Meeting agenda is subject to change.
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 6:00 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 6PM for your chance to be one of the first to receive a printed copy of The Profit Newsletter while supplies last.
At approximately 6:15 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.
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>>
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>>
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>>
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>>
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>>
Angel Oak Prime Bridge – A direct hard money lender headquartered in Atlanta. We provide renovation/construction loans for investors and builders to purchase and renovate residential properties. 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>>
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>>
ApexTkHomes, LLC
A Full Day Rehabbing Workshop with Robyn Thompson on June 7th, 2014
Posted on May 22, 2014 byDoubletree Roswell from 9AM – 5PM
A Full Day Rehab Workshop with Robyn Thompson
Robyn is the nation’s leading expert on buying properties from motivated sellers at deep discounts, renovating them at lightning speed and selling them quickly for huge chunks of cash. Robyn has rehabbed over 355 properties in her 16 years of investing.
Robyn has shared her knowledge with thousands of real estate investors around the country and now she is coming to Atlanta REIA on Saturday, June 7th at 9AM (check in starts at 8:30 AM, class at 9:00 AM) at the DoubleTree Roswell located at 1075 Holcomb Bridge Rd in Roswell, GA to teach her cutting edge strategies that will produce huge profits in today’s competitive market.
She will teach you…
- Her Mega Money Marketing Machine to Attract Desperate Sellers
- The Art of Making Multiple Offers on Free and Clear Properties that Create Huge Wins for You and the Sellers
- How to Write an Iron Clad Independent Contractor Agreement to Protect Yourself from Dishonest Contractors
- How to Build a Big Fat Cash Buyers List that will be your own ATM Machine.
- How to Locate, Prescreen & Coordinate Contractors so Your Rehabs Always Finish on Time, on Budget and Are the Highest Quality Properties For Sale.
- The 21 Deadly Mistakes that Real Estate Investors Make to Derail Their Growth
- How to Shove Prequalified Buyers through FHA/VA Mortgage Process in Weeks not Months
- How to Determine the Best Properties to Flip For Fast Cash vs. the Best Properties to Hold for Maximum Appreciation
- The Seven Actions a Serious Business Owner Focuses on Daily to Maximize Revenue in Real Estate
- Her Detailed Step by Step Road Map to Becoming a Successful Business Owner
- Effective Delegation Strategies to Boost Your Income to 7 Figures
- A Detailed List of Her Employees Responsibilities
- How to Hire the Best Employees to Take the Work Load Off of You
- How to Utilize Employees to Cut Renovation and Holding Costs by as Much as 25%
- And much more!
Robyn started 15 years ago with no job and $500. She now runs 5 high profit businesses that have produced millions of dollars in assets. At the workshop, she will share all of her business techniques on how to run a business like a business not a hobby so we can all make more money and work less hours.
We look forward to seeing you at this great event on Saturday, June 7th at 9AM (check in starts at 8:30 AM, class at 9:00 AM) at the DoubleTree Roswell located at 1075 Holcomb Bridge Rd in Roswell, GA.
May 2014 Meetings Postponed Until June
Posted on May 21, 2014 byAtlanta 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.
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!
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 $5.00. 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 May 20th at Noon
Posted on May 19, 2014 byThis month, on Tuesday, May 20th at NOON, the Onsite group will return to the same brick ranch located at 2726 Eastfield Rd in Smyrna, GA. Last month the demolition phase of the project had just begun. Right after the meeting that day, we tore into the old addition with a bobcat! Click here to see the pictures of that devastation. http://tinyurl.com/ln5rgrb. The new addition will be a spectacular master suite. Overall, the project is a total renovation: new roof, sheetrock, plumbing, wiring, fixtures, counters, cabinets, paint inside and out. You name it and we are doing it here! Join us next Tuesday at noon, to see the progress and hear about the plans for the final details.
The 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.
Atlanta REIA Meets at the DoubleTree Roswell on June 2, 2014
Posted on May 16, 2014 byLearn What Virtual Assistants Can Do For You at the Beginning Investors Group on May 19, 2014
Posted on May 13, 2014 bywith Elsa Palmer-Oden at Hudson Grille
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!
Come join us at BIG on Monday, May 19th at 6:00PM at the Hudson Grille located at 6317 Roswell Rd in Sandy Springs, where the founder and CEO of Virtual Office VA Staffing, Elsa Palmer-Oden, who will be teaching you all about American Virtual Assistants (VA’s) and why you should consider having one to help market and run your real estate investing business.
Elsa founded Virtual Office VA Staffing several years ago when she saw a rising need for real estate investors to better manage their time and efforts. Virtual Office VA Staffing, based in Concord, NC, prides itself in offering top-notch results with trained VA’s located all over the country with a variety of skill sets. Yes, you do need someone to help you research FSBO’s, call them, place ads, along with a wide variety of other services. Elsa’s company also offers Guerilla Marketing services and social media placement of ads.
For a fraction of what it costs to hire a full-time assistant, you get trained, dedicated VA’s to help you with the mundane tasks that take up too much of your time and focus, so you can spend it on the things that matter most to you.
Elsa will reveal to you:
- What Is A VA?
- What A VA Can Do For YOU
- The Cost Efficiency Of A VA vs. Other Methods
- How To Make Your Investing Much Easier
- And much, much more…
Before our main presentation, we will also showcase Regina Sitterley with “3 Steps to A Deal A Month”. May’s BIG Event is one NOT TO MISS!
Everyone please RSVP on the link provided. Atlanta REIA members can attend at NO CHARGE. Non-Members can RSVP online for $15 or pay $20 at the door. Clear your calendar and RSVP Now! Come learn about How VA’s can make your investing more effiecient and profitable! Seating is extremely limited!
Each and every month, come out and meet our participating business members who help sponsor our meeting. Thanks again sponsors!
LegalShield Associates Alan McDonald & Karen Bershad
*Please Note: Meeting agenda is subject to change.
WIN 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, May 18th, you may attend this dynamic meeting for free, plus great discounts on other Atlanta REIA meetings and 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 Atlanta REIA Beginning Investors Group (BIG) which takes place on the 3rd Monday of each month at 6:00 PM at the Famous Pub in Atlanta has been experiencing tremendous growth and attendance over the past few months. Consistently, we have had over 120+ new, intermediate and seasoned investors in attendance. We had over 150+ at our April BIG Meeting.
In an ongoing effort to better serve YOU, our Business Members, and our regular members whom you serve, we wanted to extend to you the opportunity to Sponsor the BIG Meeting and reach our audience of new investors who are getting into real estate investing for the first time or who are getting back into real estate investing once more. Our attendees are looking for contacts to help start and grow their investment businesses and are eager to hear what your business has to offer.
For each BIG Meeting, each of the 3 participating Sponsors will get:
- Your logo and a short description of your business posted on our website and in our promotional emails and flyers for the meeting listing you as a sponsor.
- A 1024 x 768 PowerPoint banner that will rotate along with other sponsor banners before and after the meeting presentations.
- Up to 5 minutes to speak to our group about your product or service before our main presentation.
- A spot in our meeting PowerPoint presentation that you may use during your 5 minute presentation.
- The ability to pass out flyers, business cards or other handouts to all participants at the meeting during your presentation so that everyone is sure to get one.
- The ability to bring a door prize to give away.
PLEASE NOTE Due to the limited time we have available at the meeting, we must limit this offer to the first three (3) Atlanta REIA Business Members to RSVP for Sponsorship for any given month. Sponsorship is exclusive to any one given business type. For example, sponsorship will be limited to one hard money lender, one property manager, one IRA company, one renovation company, one wholesale company, etc. If any given meeting is over booked, we reserve the right to move your business sponsorship to another month that is convenient for you or to refund your reservation fee in full.
Atlanta REIA Gold Business Members can sponsor a BIG Meeting for $49.95 and Silver Business Members for $69.95. If you have any questions, please call (678) 701-7160 or email admin@atlantareia.com.
Thanks in advance for your participation!
with Rock Shukoor & Russ Hiner on May 12th
at Hudson Grille, Sandy Springs, GA
The all new Atlanta REIA All Inclusive Marketing (AIM) Group (formerly the “I Love Marketing” group) meets on Monday, May 12th at 7:00 PM at the Hudson Grille located at 6317 Roswell Rd in Sandy Springs. Our guest speaker will be our good friend Russ Hiner who is an active real estate investors, wholesaler, coach, mentor and great marketer.
At the meeting, Russ will share how he uses Virtual Assistants that he pays less than $3.00/hr to get his marketing done for him and how you can too. He will also share:
- How to get paid more and do less!
- How to find properties you can wholesale!
- Where to find them from!
- What part of business you should be doing!
- Who to hire so they can get the work you do not want to do done for you!
- Who to delegate almost everything to!
- Delegate your marketing and make the lead generation a breeze!
- And much, much more
Russ has owned real estate in 9 states and has coached/mentored investors across the US. Russ has gone to the school of hard knocks many times. The high tuition has made him value wisdom and other’s experience and expertise. He has experienced doing deals that were very profitable and exciting. These deals allowed him to achieve the goals and dreams he had set out for himself. Russ has learned what works and a lot of what doesn’t work and looks forward to sharing his knowledge and experience with you at the meeting. We hope to see you there!
BONUSES FOR ATTENDING: Rock has some special bonuses for all those who show up early or on time: (1) a digital copy of his new book, “The Dynamic 6”, (2) a digital copy of his book, “Go Mobile Now Or Die!” and (3) a 30 point marketing audit of your business ($250 value).
After the conclusion of our All Inclusive Marketing Meeting, we will be meeting at the Hudson Grill or a nearby restaurant for “Late Nite Networking”. We will announce where will be meeting for Late Nite Networking at the AIM Meeting. 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!
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 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 Hudson Grille located at 6317 Roswell Rd in Sandy Springs.
*Please Note: AIM Meeting agenda is subject to change.
The Creative Deal Structuring Group Meets May 7, 2014
Posted on May 6, 2014 byCome join us at CDS on Wednesday, May 7th at 6:30PM at Craftbuilt Offices located at 644 Antone St Suite 10, in Atlanta, where active real estate investor, mentor, coach and regular article contributor to Atlanta REIA’s The Profit, Russ Hiner, will show you 3 real examples of deals he has done using creative deal structuring. Creative Deal Structuring is used when the “normal” methods of buying properties will not work in a win-win situation.
As you should know, there is always more than one way to structure a real estate transaction. The way investors do it is with “Alternative Strategies”. Attendees will learn many of these alternative strategies and know when, where and how to apply them as needed. Applied wisely, you can acquire as many great investment properties as you can get your hands on without ever having to use your own cash or credit.
We will be looking at 3 real-life examples of properties I have done. You will also get a handout that will show you how to push, pull and squeeze to make a great deal! You will know there are great ways to make sure the owner gets what they need and put money into your pocket.
You will learn:
- How To Look At Opportunities For Profit
- How To Structure The Deals For Maximum Profit
- How To Perform Quick Due Diligence
- How To Do A Deal On An Upside Down House
- Where You Can Push Negotiations
- Any much, much more…
Door Fees are: Atlanta REIA members $3. Non-Members $5 per person. Seating is limited! Get there early!
CDS is a group about creative deal structuring and how to apply it in your everyday life and business. If you’re looking to obtain tools, get knowledge, and feel better about structuring real estate transactions for profit, then the Creative Deal Structuring Group is the right group for you.
CDS is led by Russ Hiner. Russ is currently focusing on the need for his experience in assisting people who face “the people business” issues everyday to get a resolution and “real life” solutions. Russ is also on of the leaders for the Atlanta Homebuyers Society. He is also a sought-after keynote speaker and trainer of sales and communication skills.
Please join us on the 1st Wednesday of each month at Craftbuilt Offices located at 644 Antone St. Suite 10 in Atlanta.
The Profit Newsletter May 2014 Edition
Posted on May 2, 2014 byThe May 2014 Edition of The Profit Newsletter is available for download just in time for our Atlanta REIA Main Meeting on May 7th. The Profit is an digital, interactive newsletter for new and seasoned real estate investors delivered as an Adobe PDF file to read on your PC, Mac, Smart Phone, iPad or other mobile ready devices with a PDF reader. Many of the articles and ads in The Profit contain many hyperlinks you can click or tap to visit websites, watch videos, listen to audios, download content, send emails, comment on articles, share socially and much more! The high res version of The Profit is “print ready” for those who want to print the newsletter on their home or business printer. Also, be sure to Subscribe to The Profit Here so you don’t miss a single monthly issue.