Atlanta Real Estate Investors Alliance Blog
Joe Thompson Speaking on Goals at the Wild Wild West Group on Jan 28th
Posted on January 23, 2013 byWe’re kicking off 2013 with a bang at the Wild Wild West Group! Saddle up and hold on to your bootstraps, cause believe me, partner, you’re in for a real treat. Join us next Monday, January 28th at 7pm at The Cherokee Cattle Company as we host our special guest speaker, local successful businessman Joe Thompson. Joe is going to talk about New Year’s resolutions and goal setting. Are you gonna be one of the multitudes that throw in the towel, toss another one of your dreams to the wind, or you gonna COWBOY UP and ride that buckin’ bronco to the finish? Are you ridin’ that bull…or just talking some bull? What if you only had to hold on 8 more seconds to win the prize? Could you ride it out…or will you jump off, full of self-doubt, fear, and lack of focus?
Joe holds on and STICKS WITH IT. Yeah, he gets bruised up a bit along the way (all cowboys do!), yet he is walking tall and focused. My daddy always said, if a horse bucks you off, you gotta get right back on. Horses can sense fear a mile away, and so can goals and resolutions. Come learn to lasso yours in and get control of them by “knowin’ where you’re goin’”. It’s a new year, and a new beginning. Joe will show us how we can all set some realistic, easily achievable goals to make 2013 our most successful and profitable year ever. Come learn what SERIOUS goal setting can do for you and your business!
Round up your posse, mosey on over, and we’ll see you there. Doors open at 6:30, program starts at 7pm. And don’t forget Late Nite Networking in the Saloon after the meeting, where you can talk with Joe and network with all the partners. Members attend FREE, and guests are just $5 at the door. Yeeeehaaaaaaa! Remember, you’re either making dust or eating it, so COWBOY UP! Read More→
The Profit January 2013 Edition
Posted on January 1, 2013 byThe January 2013 edition of The Profit Newsletter for Atlanta REIA is now ready for download as a High Quality PDF or Low Res PDF format. In case you didn’t know, The Profit Newsletter is a digitally delivered, interactive newsletter for real estate investors to read and use with your PC, Mac, Smart Phone, iPad or other mobile ready device. 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 Profit is a “new” Newsletter and were just getting warmed up, so be sure to Subscribe to The Profit Here so you don’t miss a single monthly issue. And please be sure to tell your real estate investor friends to subscribe as well. The Profit is for sharing!
This month you can read, interact and enjoy a variety of articles on real estate investing and more from Ron LeGrand, Dustin Griffin, Karen Bershad, Russ Hiner, Chris Littleton, Larry Harbolt, Deborah Harris, Michael Vazquez, Kathy Kennebrook, Kimberlee Frank, Tony Pearl, Don DeRosa, Bob Massey, Jim Hitt, Erven Kimble and Bill Cook. And don’t forget, Atlanta REIA Business Members can advertise in The Profit at deeply discounted rates. Enjoy!
The Five Critical Steps to Success
Posted on January 1, 2013 byThere’s a lot of ways to make a million bucks, but most involve some kind of business, and that business must have the potential to achieve a high income, or all one has is a low paying job he/she happens to own. We all have a choice. So, why not choose a business that can make you rich?
I know a dentist who spent $400,000 on two sandwich shops which his family runs and can barely break even. There’s no way to sell because there are hundreds on the market and a business making no money isn’t worth much, especially when it has no upside potential. He’s headed for a $400,000 seminar, but hey, we all take them and look how much smarter he’ll be the next time.
In 1982, I was bankrupt broke, working as a mechanic, 35 years old and clueless. I got into a heated argument with my wife over a washing machine. She wanted a new one and I wanted to fix the old one because I didn’t have the $150 to spend.
That night, there was no sleep. All I could think about was how big of an “a—hole” I was for arguing with a mother of four whom I’d already been married to for 17 years because she wanted to wash clothes for her family. The next day, I started looking for a way out. I didn’t want to live like this for the rest of my life. There had to be something I could do to make a better living.
My way out was real estate. I started reading books and attended a seminar to get me started. Greed and hunger took over from there. Before I knew it I’d bought and sold several hundred houses without using my money or credit, and still do it today, over 2,000 now.
I tripled my income easily the first year, and it continued to climb for years thereafter until I started creating courses on what I know, and selling them in 1987. Then my income tripled again.
Today, my company continues to market information products to real estate investors and those who want to triple their income on the internet or learn how to start and grow any business. Since that has become my chosen field and hundreds of thousands have gone through our training, it puts me in a good position to see what people do right and what they do wrong.
One lesson I learned the hard way has become my credo: Read More→
Your Ground Game for Generating Leads
Posted on January 1, 2013 byAre you tired of making offers on houses listed in the MLS only to have the price bid up by other investors and hedge funds? Well, that’s what happens when there is an inventory shortage and everyone is chasing the same leads. The minute a new listing hits the MLS, there are often multiple offers on the home by the end of the day.
Instead of competing for the same small pool of leads, you need to generate your own leads… leads no one else knows about but you. You can do this by using many of the same methods and techniques that have been working for years such as…
- Bandit Signs – Putting out we buy houses signs with your phone number and web address in and around the neighborhoods where you want to purchase will get the leads coming in almost instantly. Be sure to be aware of the sign ordinances in your area to avoid fines.
- Flyers – You can distribute we buy houses flyers virtually anywhere to get the leads pouring in almost as soon as you put them out. You can flyer parking lots, neighborhoods and houses for sale. You can also have your flyers distributed with the local paper, on pizza boxes or by the postal service for about 14 cents each. Read More→
Atlanta Real Estate Market Has Hit Bottom!
Posted on January 1, 2013 byIsn’t that a great headline! Wouldn’t it be great to have hit the real estate bottom in Atlanta?
We all know that the real estate market in any city is micro economic. This means that you can pick an area that is white hot… and within one mile of that location you will find an area that is dead like week old fish. You need to know where the white hot areas end and the dead fish areas begin: these are micro-niches. You need to find the micro-niches—YOU NEED INFORMATION, information that I can help you find.
If you are an investor who is determined to buy real estate immediately, then this information is for YOU.
Okay, you’re determined, but you don’t have $200,000 stuffed in your mattress, and you’re nervous about investing. Everyone is, but the good news is that the market is looking better and better—and there are experts like me in the field with good information.
But you need to move quickly. In the metro Atlanta area, investors are buying properties at a rate of 60% of the total sales. This is a buyer’s market. You need to get in the game NOW! Read More→
Structuring Your Business for Success!
Posted on January 1, 2013 byOne of the first things to consider when you are starting your real estate business is how you are going structure your business or businesses. I probably would say in most cases the word businesses! Over the years of dealing with my business, working with clients and the people whom I do business with, I have learned a great deal regarding the ways of structuring entities for success. I have seen the affect of poor planning which include increased risk, personal liability, and a servicing and filing nightmare at great cost. The one thing I would like to make clear is that this is business advice and not legal or tax advice. When you start your business you should consult with a CPA, attorney and others investors or business owners that operate the type of business you are setting up. A good mentor can be worth their weight in gold as you start real estate business and structure it for success.
The five basic entities for business are: Sole Proprietorship, General Partnership, Limited Partnership, Corporation and Limited Liability Company. Choosing the entity usually depends on issues and concerns with people, place and things. Read More→
Different Things You Can Use to Buy Real Estate Other Than Cash
Posted on January 1, 2013 byThis month I want to give you an example of different ways any investor can use notes to buy houses instead of using CASH. Once upon a time I knew an investor who was trying to structure a deal with a seller who wanted the money from the sale of his property to buy a motor-home so he and his wife could travel the country. The investor asked the seller if he was able to find a motor-home of the sellers liking, would the seller use the book value of the motor-home in exchange for the down payment on the property the investor was trying to buy from the seller. This was regardless of what the investor had to pay for the motor home he would be trading to the seller for his property. The seller told the investor exactly what he wanted a motor-home to have, that he would accept. Once the investor knew what the sellers wanted, he then immediately set out to find a motor-home he could use as catalyst to complete the transaction to buy the sellers house. Read More→
Real Estate Has a Sense of Humor
Posted on January 1, 2013 byWith over 30 years of Atlanta real Estate under my belt, one begins to think you’ve heard or seen it all. Not true! As an analytical person that usually utilizes this column to the explain Atlanta market statistics, I decided the end of the year needed a little levity. Those of you that know me, would state that I have a healthy sense of humor anyway. Therefore, this column is devoted to the more humorous true stories I have experienced in real estate.
Auctions and Land:
- In 1983, I went to Mendenhall Auction School in North Carolina, exactly 20 years after my Dad had graduated from the same auction school. He fronted the money for the school and the expenses for me to attend, on the condition, that we deduct it from future auction commissions. Well, in the eighties, auction and real estate were mostly male occupations. Therefore, 90% of a class of 100 was men. The first day of school, the schoolmaster, Mr. Mendenhall, announced that, “We have a very special student here. She is the second generation to attend auction school, and, her father is the President of the National Auctioneers Association.” With that, everyone wanted to meet me, and, a group invited me to play poker with them. Well, I inherited my math and card playing abilities from Dad, and, I am sure this group had no idea who they were tangling with. The following Monday after my graduation from school, I was in my Dad’s office, when I started counting of hundreds of dollars to him. “Here’s the tuition money. Here’s the expense money. And, I am keeping the rest”, I exclaimed. “Where did you get all that money, girl?” my father questioned. “I won it playing poker with the rednecks that wanted to learn to sell cows and tobacco,” I proudly said. With that, he slammed his fist on his desk and stated, “Way to go, Girl!” Read More→
Note Buyers
Posted on January 1, 2013 byBy now everyone has heard that banks have ceased foreclosures for the holidays. This has made finding inventory much more difficult for a few investors that depend on just those foreclosures as leads. In the last few years I have began working with non-performing note buyers or NPN buyers. These buyers buy notes from the same banks that you are expecting foreclosures from. What do many note buyers have in common? They were once real estate investors that now prefer to buy and sale the notes in order to avoid house renovations, tenants, etc. They are also looking to liquidate those properties so they can purchase another bundle of notes.
When note buyers acquire in bulk they end up with plenty of properties at pennies on the dollar. For example, they might purchase a $100,000 note from a bank for $40,000. They know that the current property owner of the property is not making payments. Because they now carry the mortgage/note they can now foreclose on the property and take procession of the property. Again, these note buyers usually do not want to bother with holding or repairing these properties. At this stage is where you, the real estate investor, would like to step in and relieve this note buyer of this burden. Of course, you will not be purchasing this deal at $40,000 but maybe for $45,000-$50,000 if the property needed $20,000-$25,000 in repairs. Given that the property is still worth $100K this purchase would be at 70% LTV including repairs. This would be a deal any serious investor would consider. Read More→
Pre-Screening Sellers For Your Real Estate Investing Business – Part 1
Posted on January 1, 2013 byI strongly believe that pre-screening sellers is one of the most important tasks you will undertake in your real estate investing business. The more quickly you learn to pre-screen prospects, the more money you will make in your Real Estate Investing business. This article is focused on teaching you how to tell a good deal from a time waster in 30 seconds or less.
If you don’t learn to pre-screen prospects quickly and efficiently, you will get burned out of the real estate investing business by working with sellers who won’t sell you their house, no matter what you say. Your job as a real estate investor is to very quickly determine the difference between a prospect and a “suspect”, meaning someone who needs to sell versus someone who just wants to sell their property.
People who just want to sell will either reject you immediately (don’t take this to heart, it just helps you move on quicker) or they will jerk your chain with a bunch of excuses as to why they won’t sell to you. Don’t waste your time with these folks!!
I know from first hand experience that motivated sellers will make themselves known to you quickly and they are a whole lot more fun to work with. Their attitude is more like “Please take my house off my hands…..now!” They are usually pretty easy to identify once you ask the right questions. Read More→
Atlanta REIA Meeting & New Year’s Party on January 7th, 2013
Posted on January 1, 2013 by& Annual New Year’s Party
with Ron LeGrand on
“Quick Turning Real Estate for Fast Cash”
at the Crowne Plaza Ravinia on January 7th
Atlanta REIA Members Can Attend at No Charge.
Guests Can RSVP Online Now for $15 or Pay $20 at the Door.
Atlanta REIA is very excited to announce that real estate investing legend and millionaire maker, Ron LeGrand, will be speaking at our Atlanta REIA Main Meeting on January 7th at the Crowne Plaza Ravinia in Atlanta which starts at 5:30 PM. Ron has created more millionaire real estate investors than anyone else on the planet and you can be one of them!
America is on sale right now and if you’re not making obscene amounts of money in real estate right now, you’re missing the best opportunity of your lifetime to get rich. Come spend the evening with Ron where he will teach you can make 2013 your most profitable year ever! You will learn about…
- Making Big Money With No Money Or Credit – Ron will show you where the big money is in real estate and how you can get it with NO money, credit or risk on your part.
- Making Huge Profits On Over Leveraged Houses – Ron will show you how to control houses without ownership and make a minimum of $5,000 per house 3 to 4 times a month.
- Getting Rich In Your IRA Tax Free – Ron will teach you how to use real estate to grow your IRA to a MILLION DOLLARS in less than five years without you ever personally contributing another dime.
- Where To Find The Best Deals Even With Hot Competition – Ron will show you the best tool he’s ever used to absolutely ensure you never struggle to find deals and it only costs pennies to implement.
- Where To Get The Money To Buy Bank-Owned Deals– Since banks require cash to purchase their properties, Ron will show you where to get the cash to buy bank-owned homes that won’t come from other banks or require credit or qualification.
- Purchasing a Beautiful New Home for Your Family – Ron will show you how you can purchase a new home for your family in the next 45 days and never fill out an application, apply for a loan, or put up a down payment.
RSVP for the Meeting to Get Your Gift from Ron!
ATTENTION Members & Guests: If you RSVP to attend the meeting right now, Ron has a special gift for you… his book on “How To Be A Quick Turn Real Estate Millionnaire In A Bad Economy” so you can make fast cash with no money, credit or previous experience. He is also throwing in his new audio CD called “How To Make A Fortune In Foreclosures In A Slow Real Estate Market.” This book and CD will reveal how you can make a boatload of cold hard cash in today’s troubled Real Estate market.
PLEASE NOTE: If you are NOT an Atlanta REIA Member, there is a $15 charge to attend the meeting on January 7th. If you wait to pay at the door, the fee will be $20 and you will not get Ron’s downloadable book and CD, so RSVP Now, get the gifts & save!
with Bob Massey
On January 7th at 3 PM, Bob Massey will be having his quarterly meeting at Total Wine & More located at 124 Perimeter Center W (see map). Bob will be giving a presentation you don’t want to miss! He is going to be going over the details of a $875,000 short sale he just closed that most investors would have abandoned months ago. Instead of giving up, he modified his strategies and ended up making more than if everything had gone according to the original plan! He is also going to be discussing mortgage fraud, securitization issues, and foreclosures. The banks have been defrauding homeowners for years, and we now have a way to use that to fight back against the banks and do some pretty incredible deals while helping underwater homeowners across the country.
After the conclusion of the Main Meeting, we will be reconvening at the Tilted Kilt Perimeter located at 1155-B Mount Vernon Highway in Atlanta for our annual New Year’s Party. There will be FREE Food, networking and lots of fun! Come eat, drink, network, have fun and celebrate the New Year with us late into the night!
*Please Note: Meeting agenda is subject to change.
Each and every month, for the duration of our meeting, we have a Vendor Trade Show in which you can come out and meet many of our participating business members who help sponsor our meeting. Thanks again sponsors!
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>>
Angel Oak Funding – A direct hard money lender headquartered in Atlanta. We provide renovation/construction loans for investors and or builders to purchase and renovate residential properties. Read More>>
Pete’s Friendly Home Inspections, LLC. – Pete’s provides home inspections, radon monitoring, gas/water/septic tests, checks pools/sprinklers and any other type of inspection needed to get you that next home! 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>>
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>>
Atlanta Private Lending – Atlanta’s premier private real estate lending company. We provide private, hard money loans to professional real estate investors for renovation and investment purposes. Read More>>
Solutions Realty Network – Providing expert property management and investment services since 2003. You invest and we take care of the rest! We’re the solution to all your real estate needs. 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→
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!
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→
Commercial Realty Experts – Our Team utilizes the latest information technologies, market research, and business strategies to move real estate quickly, or satisfy your particular buying needs. Read More>>
D S Murphy & Associates, Inc. – Residential and commercial real estate appraisal services specializing in pre-listing, tax appeal, renovation and new construction consultation. 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>>
Happy Homeowners Club, LLC (Rock Shukoor)
Platinum Real Estate (Luther Ragsdale)
WGC Commercial Lending
ATL RE GROUP, LLC
AtlantaHomesYall.com
Alexandra Spollen
The Best Deals To Do in Real Estate in 2013 & Beyond! – Part 1
Posted on January 1, 2013 byAs I write this, it’s coming up on the end of 2012. The real estate market is still crazy, and there are a lot of questions in people’s heads as to what the market is going to do. What else is new?
Ever since I first got in to real estate investing, back in 1996 (wow!), the market has ALWAYS been changing. So that’s NO excuse not to get involved & do some deals. The KEY is to just recognize WHAT the best strategies are to use at the moment, then learn all you can about them, and – most important of all – ACT on what you learn!
Winners with tiger blood running through their veins will tell you that CHANGE (and chaos!) just creates more opportunity, and the real estate market right now is certainly no exception. It used to be that the hot things in real estate were: Wholesaling, Short Sales, Rehabbing, and of course, the related “Get the Deed” system, where you take over existing houses ‘Subject To’ the existing mortgage. Read More→