Atlanta Real Estate Investors Alliance Blog

The November 2016 Edition of The Profit Newsletter, the official newsletter of the Atlanta Real Estate Investors Alliance, is now available for download. There are 50 pages this month full of upcoming meetings, workshops, webcasts, educational articles and other valuable information for your real estate investing pleasure and success. Download it and check it out!

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This month is renovation month at Atlanta REIA and I for one am super excited.  For the past 19 years I have managed to perform just about every type of real estate transaction there is.  Everything from notes, wholesale deals, lease options to subject to deals.  I’ve used every buying strategy known to man and every creative technique to sell my properties. But, no technique has made me more money than the good old fashioned “rehab” fix and flip.  People often ask me how they can make lots of money in real estate.  You would think that answer would be wholesaling because you don’t need a lot of money and it is quick and sometimes painless. Well the truth is, the fastest way to wealth in my opinion is to “Find ‘Em, Fix ‘Em and Flip ‘Em.”

When doing a rehab or renovation successfully it requires tools just like any job well done.  If you have the proper tools in any job, the job goes much easier, faster and most efficiently.  Rehabbing is no different.  There are six steps to successfully performing any renovation of any size or shape.

The first step is PLANNING.  Making sure you have the proper tools is essential to your success.  Things that you should have with you at all times will make your job easier.  These items include, Inspection forms, Camera, Flash Light, tape measure, graph paper, lock box and “”We Buy Houses” sign.  These tools allow you to initiate the first step in any rehab.  In my opinion you also want to invest in a design program so you can “Mock Up” what you want your rehab to look like.  If you have an iPad my recommendation is an app called Tap Glace.  It allows you to measure and create that vision on paper before you ever touch anything inside the house.  Read More→

Emotion is a tricky thing.  We all have them.  We experience them every day whether positive, negative or even indifference.  I remember when I started investing being taught to never ever, EVER become emotionally attached to a deal.  It sounded easy enough and as head knowledge it is.

But then a funny thing happens…people and or money become involved!

Oh yes, emotion can make the smartest of investors make the most let’s just say ‘bone headed of decisions’.  I will have to admit, I have fallen prey to the power of emotion on a couple of emotions.  Never underestimate this factor when doing deals!

Let’s examine both of these avenues in depth so you can see how powerfully they can work against you, sometimes without even realizing it.

In terms of people…  Read More→

I have been asked the same question a few times lately so I decided to answer it in this article. “Where can I get a master lease option (MLO) contract from?” The answer is easy- Google. You can search for MLO docs online. There were dozens of versions from just as many sites. I highly suggest that you have an attorney review any docs you get off line before using them. When I am asked this question I usually respond by telling the person that they aren’t really asking the right question. The real question is not “where do I find a MLO contract?” but “How do I use it?” You can print up the best master lease option document you can find but if you can’t get a seller to sign it…who cares?

Getting a seller on board with any kind of creative financing can be a challenge. You will find it a lot more difficult without the right presentation. Pitching your idea to the seller or realtor is the key to getting the deal done. Here are a few tips to make your next MLO offer a hit!  Read More→

The State of Florida and many other states were affected by Hurricane Matthew, leaving many Sellers with problem houses.  I am located in Oviedo, Florida, and being a transplant from Michigan, I have never been in a Florida Hurricane.  All of my houses were blessed with minor damage such as big trees down in the back yard, shingles flying off the roof, branches and trash everywhere. I am very grateful to God for these blessings.  Other Sellers were not so fortunate and my heart goes out to them.  They now have to deal with making a huge decision of fixing the house or selling the house.  Some Sellers may not even have insurance on their house.  However, if they do have insurance, let me explain the process.  

An insurance claim can be long and dragged out with many Sellers becoming very frustrated with the insurance company’s findings.  These are Sellers that may need your help with you buying their house.  First, let me explain the process on Insurance Claims.  Sellers will notify the insurance company of damage to the property along with providing them a list of items damaged.  If the Insurance Company and the Sellers can come to an agreement, then a check is sent to them in their name and the names of all mortgage companies that may have a lien on the property.  Pursuant to the terms of the mortgage that was signed by the Sellers, all insurance proceeds are to be used to re-build the property to make sure that the mortgage companies have an asset that is worth the amount of their loan.   When there are large claims of loss to the insurance company, they normally dispute the amount of the claim and the Seller will have to hire an independent insurance adjuster to assist them in disputing the claim.  Read More→

 Hey, guess what?  I Want You to FAIL!

“Say what now? Fail? But failure is a bad thing, right? That’s what they taught me in school…AND in my job! And all my friends make fun of each other when we fail.”

Yes. Exactly. So what?

I’d like you to think back to when you were a kid. Everything was new to you in the world. You really had to learn things for yourself… How to eat, drink, think, walk, talk, and interact with stuff, right?  If you can’t remember any of that, just watch kids.

Have you ever watched a kid learn how to walk? They fall down a lot, don’t they?  But here’s the truly interesting thing: They don’t stay down. They don’t listen to their well-meaning friends who laugh at them, and they don’t care what grade they get. 

No, they stand up, wobble around a bit, and fall down. Then they stand up again, wobble some more, then put one foot out and take a step!  Read More→