Atlanta Real Estate Investors Alliance Blog
How to Get the Power Out of Your Power of Attorney
Posted on June 25, 2012 byOut of Your Power of Attorney
with Robert Woodruff
On June 26th & July 19th at 7:00 PM ET
If you are serious about your real estate investing success, you need to be sure you are on this live webcast with Robert Woodruff on June 26th and July 19th at 7:00 PM ET.
What Robert is going to show you is a closely guarded secret used by Professional “Seasoned” Real Estate Investors all across the country. “How to Get the Power out of Your Power of Attorney” is a simple, yet brilliant way of tying-up and controlling investment property that Robert is going to share with you.
Using this strategy will save you tens of thousands of dollars each year acquiring property. It doesn’t matter whether the property is a mobile home, a single family home, land, or commercial property. This strategy gives you every right to a property without ever having to purchase the property yourself conventionally.
Robert says “This is the fastest strategy I’ve ever used to tie up and wholesale investment property. You can earn tens of thousands of dollars virtually overnight by using this strategy to wholesale properties to other investors. I’ve used this strategy to easily gain control of properties and acquire them NO MONEY DOWN for years. I’m sharing this strategy with you on the webcast. I know that once you’ve learned the power of this strategy, you will want to learn more powerful ways of acquiring real estate.”
As an Added Bonus for You: Robert will be going over his Motivated Seller Sheet that he provides to screen callers and how this is one of the most important forms in your arsenal of tools for dealing with sellers. He will explain in depth how to use this form and provide a FREE copy to all the listeners on the webcast. Read More→
The Profit July 2012 Edition
Posted on June 25, 2012 by
The 2nd edition of The Profit, the official newsletter of the Atlanta Real Estate Investors Alliance (Atlanta REIA), is out for the month July 2012! Read and enjoy articles from Jim Hitt, Chris Littleton, Don DeRosa, Erven Kimble, Tony Pearl, Mike Vazquez, Bob Massey, Gordon Catts, Russ Hiner, Deborah Harris, Jeff Nix, Craig Halperin, Robert Woodruff, Dustin Griffin and more. Don’t forget, Atlanta REIA Business Members can advertise in The Profit at discounted rates.
Become a Massage Therapist?
Posted on June 25, 2012 by
First, let me preface this article by saying that massage therapists are amazingly talented and giving people. They spend hours leaning over a table, using their hands and their knowledge of muscles to help rejuvenate tired bodies.
With that said, a few weeks ago, Bill and I were cruising down I-85 heading to Florida when a commercial for a Massage Therapy School came on the radio. The announcer touted the benefits of a career in massage therapy, and when the commercial ended, Bill turned to me and said, “You know, a therapist’s income stops every time a body gets off their table.”
Well that led to a discussion. If a therapist has a client on their table they are making money to help pay the bills, but what are they doing to create wealth? What about their retirement? What happens in their ‘golden’ years? Are they still leaning over a table when they reach their 50’s? Read More→
2nd Annual Atlanta REIA Vendor Trade Show on July 2, 2012
Posted on June 25, 2012 byAttention Atlanta REIA Members, friends, followers and guests,
The Atlanta Real Estate Investors Alliance is very excited to announce that on Monday, July 2nd at 5:00 PM, we will be having our 2nd Annual Atlanta REIA Vendor Trade Show to celebrate our 2 Year Anniversary. We will be meeting at the Atlanta Perimeter Hotel & Suites located at 111 Perimeter Center West in Dunwoody, GA.
This trade show and celebration is all about YOU, our members, business members, local speakers, trainers and subgroup leaders who have supported us throughout out very successful second year! There will be plenty of opportunities for you to promote yourself, your deals and your business to our other members and guests. In order to draw out a crowd, we are keeping admission free for members and guests can RSVP Online for $10 (or pay $20 at the door) and have a very exciting line up.
Dustin Griffin will be updating our members and guests on many of the exciting new things that are going on at Atlanta REIA in the upcoming weeks and months such as upcoming workshops, webcasts, special events, member’s benefits and more!
Joe Thompson will be hosting a 60 minute Haves & Wants Speed Marketing Session to help facilitate deals by giving our members the opportunity to quickly market things they HAVE and no longer want and to find things they WANT but don’t yet have. Be sure to get to bring your flyers.
Don DeRosa is going to show you how to simplify the rehab process by using the iPad and show you exactly what apps he uses to get the best prices and to ensure you don’t get taken advantage of by your contractor. Whether you are wholesaling or holding a property, identifying the rehab cost can be one of the most difficult tasks a new investor can face. Even a small miscalculation could mean the difference between making a profit or doing real estate as a hobby. Don will walk you through a complete inspection so you won’t miss a thing. Don’t miss this exciting display of today’s latest technology.
Bob Massey is going to be talking about how to legally flip PRETTY houses with 25% profit margins by taking advantage of widespread banker fraud throughout the process. He will be covering how the United States financial system is set up and how they take advantage of homeowners. Their shenanigans have opened up an awesome but little known opportunity for investors to help out a huge number of underwater homeowners AND make some serious money. He will be explaining it all and taking your questions.
Robert Woodruff, President of the Charleston REIA, retired at 32 years of age with $6,000 dollars in monthly passive income. Robert now spends his time traveling the world with his family, speaking nationally, and filming videos on financial freedom and quality of life. Robert will be sharing his specialized knowledge on low-risk cash flowing investments and how to control property without the need for ownership. Learn how to retire early and control property without ownership with Robert’s specialized knowledge.
Russ Hiner is going to talk about three different marketing methods you can use in order to get high quality leads consistently coming to you. You will then be able to cherry pick the properties to make deals. Join Russ on July 2 and pick up just another couple of tools so that you feel better about where you’re going in today’s real estate market. You’ll receive practical tools that are going to allow you to get much better at marketing and understanding what marketing is all about.
Chris Littleton will be discussing the option of hiring a property manager vs. do-it-yourself property management. He will address common landlord issues, how to stay out of court and take questions from the audience. Chris is a licensed Realtor; his team currently manage 560+ homes in 18 metro Atlanta counties. If you’re buying property to hold – you won’t want to miss this valuable information.
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You can Join Atanta REIA as a Silver Member on July 2nd only for $75 (Save $25) for your 1st year. You can also add a spouse, partner, significant other or adult child for only $25 extra (Save another $25).
You can Join Atlanta REIA as a Gold Member on July 2nd only for $250 (Save $50) for your 1st year which is good for two people (spouse, partner, significant other or adult child).
Click here for more information on Atlanta REIA Individual & Couples Memberships.
If you own a business that caters to real estate investors and other real estate professionals and haven’t joined Atlanta REIA yet, now is your chance to join as a Business Member and save big!
You can Join Atanta REIA as a Silver Business Member now through July 2nd for only $125 (Save $25) for your 1st year. You can also add a partner for only $25 extra (Save another $25).
You can Join Atlanta REIA as a Gold Business Member now through June 2nd for $300 (Save $50) for your 1st year which is good for two business partners.
Click here for more information on Atlanta REIA Business Memberships.
*This special offer is not eligible for Goodwill Ambassador referral fees.
Atlanta REIA is pleased to announce that Attorney Matthew Lettich will join us at the new Active Investors Group on July 2nd at 3:00 PM at the “meeting-before-the-meeting” to share his insider secrets of investing in bankruptcy properties. We will discuss the different types of bankruptcy as well as the various opportunities and pitfalls. We will discuss how to locate prospects and create opportunities in this little known area of investing.
The Active Investors Group is a new educational and networking group, led by Gordon Catts, that meets once per quarter at 3:00 PM in the private meeting room at Total Wine & More located at 124 Perimeter Center W in Atlanta, GA before the Main Atlanta REIA Meeting. Gordon will be showcasing various, lesser known real estate investing niches so you locate profitable deals that have not been picked over by the hoard of investors entering or re-entering the market.
At 5:00 PM, Total Wine & More will be offering a complimentary wine tasting to all those who attend our meeting and wish to participate. There is NO CHARGE to attend this meeting or the wine tasting for Atlanta REIA Members and guests.
Establishing Proper Management Rights Can Save Your Closing
Posted on June 25, 2012 byReal Estate Investors establishing multi-member LLCs should always consider how broadly or narrowly to define the rights, duties, and powers of their members and managers based on the structures and needs of their respective companies. A thorough declaration of rights and duties in an LLC operating agreement will reduce the likelihood of future confusion and conflict. Furthermore, it will ensure that the members and managers of the LLC understand and have agreed upon each party’s responsibilities and limitations.
Real estate investment LLCs, especially those that either have a member or members out of state or out of the country, or who do business out of state, have especially strong incentives to structure management provisions with care. Limited liability companies can assign limited management duties or rights, such as signatory authority, to parties, without granting those parties full management authority. These non-member managers can save the company time and travel expenses by acting as local agents of the company in certain capacities. Limited liability companies with more complex management needs must give careful consideration to scopes of management authority; operational efficiency should be achieved without sacrificing an appropriate balance of managerial power. Therefore, real estate investors should always consult an attorney who is experienced in entity formation and business transactions before forming their LLC operating agreements. Read More→
Why Do You Do What You Do?
Posted on June 25, 2012 byI want to talk to you about the reason you chose to get into real-estate. The “why” we are willing to risk, and spend our resources in real estate as a vehicle to create income for ourselves will make or break the adventure.
I was working in a job and the boss passed me over for a promotion. I decided I would make enough money from real estate to buy the house across the street and on both sides of her house. Then I would rent to the house to social misfits. This would drive down her property value, make her life miserable, and I would have my pound of flesh. What happened was I made enough money on a few real estate deals to buy the house across the street from hers. When I had accumulated that money my goals changed and I bought something which would make more money rather than seeking revenge.
When people go the big seminars of the national speakers they get excited. The speakers stress financial independence, paying off the credit cards, creating a legacy for your children, vacations, and more time with the family. These are all good reasons to become involved in real estate. The truth of the matter is only a few of these items will keep you in the game when luck runs out. There are a few reasons that will keep you passionate about what you do, when the times get hard. I put together a goal to make enough money to have the beautiful women on the infomercials, like Tom Vu. I realized quickly that I had the best friends money could buy. This was not inspiring. Read More→
Atlanta REA Welcomes Goldmine Properties and Lima One Capital
Posted on June 25, 2012 byGoldmine Properties
Mike Cherwenka and Goldmine Properties offers step-by-step real estate success through a proven system with a 17 year track record of over 1,700 wholesale deals on the books. “With our system, we’ve taken all the risk out of the deal for you” says Cherwenka. Goldmine’s streamlined process includes sourcing properties at 65% of the after repair value, inclusive of the purchase price, providing a certified appraisal, financing of purchase and repairs, providing contractor estimates, agent support for selling or property management for buy and hold properties, and much more. See the Goldmine Properties website at www.GoldMineProperties.net for more information and be sure to stop by and visit their vendor booth at the Atlanta REIA Main Meeting.
Lima One Capital
“Our mission at Lima One Capital, is to become the nation’s largest and most respected lender dedicated to real estate investors and home builders, emphasizing excellence and integrity in every aspect of our business”, says John Warren, founder of Lima One Capital. With offices in Atlanta and Greenville, Lime One is a fully capitalized, direct lender for real estate investors and home builders. Lima One holds a firm a policy of no hidden fees, no junk fees, quick self-capitalized closings and the most professional customer service in the industry. Read More→
The Real Estate Market in Atlanta is Improving
Posted on June 25, 2012 byThe good news for the Atlanta Real estate Market is that 2012 year to date sales rose over 17.1% in 2011 and 23.3 % over 2010. Sales gains in 1Q and 2Q 2011 were even more significant since they were being compared to 2 periods in 2010 which were boosted by government tax incentive purchases, making the 1Q 2012 increase above those gains even more significant (Chart 1).
Chart 1
A lot of this has to do with the drastic increase in the quantity of sales since 1 Q 2011 and especially since 3rd quarter 2011. And, while the number sold increased, 42% of the sales were under $100,000 and 70% of the sales were under $200,000 (Chart 2). Read More→
Are Your Property Taxes Are Too High?
Posted on June 25, 2012 byIn many Metro Atlanta Counties, the tax assessments have been mailed and the deadline to file an appeal is fast approaching. If you have not received a notice, check with the county. You do not want to miss the opportunity to appeal if your assessment is unreasonable.
If you are seeking information for a particular county, you can Google the County name to get the Tax assessor’s contact information. It is important to be proactive on this.
In many areas of the country Property values have dropped substantially over the last several years.
The rash of foreclosures, a shrinking employment and a huge number of properties in Lender inventory as well as a high level of homeowners substantially delinquent on mortgage payments has caused an erosion of values. Depending on where you are living, it is quite conceivable that we have not reached the bottom yet. Read More→
How is the Small Investor to Compete?
Posted on June 25, 2012 byOur government seems to be placing its bet on large-scale investment groups to help get the country out of the foreclosure mess. In May the Federal Housing Finance Agency will announce who from among 3- or 400 investor groups will be allowed to compete for a stock of 2500 Fannie Mae/Freddie Mac properties in several major foreclosure markets. A group of these properties are in the Atlanta area and will be sold in bulk to qualified investors.
The bigger investment groups will be able to put up millions of dollars in cash and will, more than likely, be able to drive the prices down below 70% LTV for these properties to be used as rentals. Analysts speculate that these larger investors purchasing bulk REO deals from the GSEs or banks will be able to command 10-12% return on investment for holding these properties as rentals, well above the market return rates.
In major markets across the country large investment syndicates and hedge funds have entered into a feeding frenzy for bank-owned property sometimes driving the bidding up at auctions or in negotiations with lenders past a point where a small investor can compete. Read More→
The Owner Occupant
Posted on June 25, 2012 byWhen contracting a property from an owner occupant you have to first find out how attached the seller is to the home. Discovering the reason the owner has decided to sell can help in determining the owner’s level of attachment. In most cases, contracting from an owner occupant is more complex because there are usually more emotions involved. For this reason, negotiations should be done in person. The bright side is you do not have to worry about competing with hundreds of buyers. Your competition is smaller thus your chance of contracting the property is higher. With that said, these types of properties take a bit more time to find.
Once you have discovered that an owner is selling because he/she can no longer afford the home, you can assume that the emotions and the attachment levels are high. This is where justifying your offer is very important. The seller is already being forced out of his home and now you, the investor, are looking to purchase it at a low price. Expect an immediate no, some explanation to why the home is worth so much more and/or some yelling. Remain calm! Listen to everything the seller has to say. Once he/she has finish speaking begin presenting your FACTS. Make sure the seller understands that your offer is based purely on factual information. Explain to him/her how you arrived at your offer. Make sure not to speak over the seller’s comprehension. In most cases the seller is not a savvy investor so make your explanation as simple and clear as possible. If you do a decent job the seller will see your point of view and realize your offer is not as terrible as he/she thought it was. Negotiation begins. Read More→
Real Estate + The Internet = The Perfect Marriage
Posted on June 25, 2012 byHello, my name is Tony Pearl. I’m a successful veteran real estate investor who has done a lot of deals but got bored with it all a few years ago and started ‘playing around’ with marketing on the internet.
Translation: When the crap hit the fan and real estate started sucking in 2008, I had to do something else to put food on the table, and I chose the internet.
It is my pleasure to bring you the ‘inside scoop’ on how things are progressing for me and other real estate investors who are successfully going online to get buyers, sellers, private lenders, and almost anyone or anything else you can think of to use in our businesses… and how you can do the same! That’s what this column, “Pearls of Wisdom,” is all about.
So unless you’ve been living like a cave man these past few years, you’re surely aware of how almost everybody is online now. Think about this: Who do you know who DOESN’T have at least the minimum requirements of an email account or Facebook profile? It would probably take you a minute to come up with a name, am I right? Exactly. Read More→
