Atlanta Real Estate Investors Alliance Blog
Anticipate the Market
Posted on November 8, 2015 byIn many past articles I have stressed the importance of knowing the current real estate market. You should take note when property prices are rising, falling or plateauing. If you are a flipper, is your inventory selling faster or sitting on the market longer? If you are a wholesaler, are you having to work harder to find deals or have you suddenly found an abundance of deals? Are the deals you are finding getting easier or harder to sell? If you are a real estate agent or work closely with one, is his/her listing receiving multiple offers and flying off the board? Or are they sitting on the MLS with a few showings here and there? These are questions you should always be asking as a real estate investor.
One can always pick up an article or see a news report about what is going on in real estate but it is usually a report of real estate as a nation not just your market place. Most realtor associations have monthly reports that are helpful but they are not out until the middle of the following month. As an investor, even these reports may be too late in providing the information. If you are in real estate or plan on being in real estate you must keep your finger on the pulse. If you are doing plenty of business you will feel the change in the market and can begin to prepare for it immediately. However, if you only dabble in real estate, you might not know what is coming around the bend. If you dabble or are just getting started make sure to network with people that are full-timers. If you find a deal you plan on flipping or holding on to for a rental, discuss it with a veteran investor. They can mentor you on the best option and possibly keep you from making a mistake. Read More→
How to Locate Highly Motivated Sellers Using Business Cards
Posted on November 8, 2015 byFinding ways to attract motivated sellers to your Real Estate Investing business is probably the most important element in your business, since without the motivated sellers, there are no deals to be made.
There are several different ways to find motivated sellers for your real estate investing business using a shot gun type of approach to locate as many sellers as you can. A shot gun approach is where you “blast” your message out to your market and hope that there are motivated sellers among the bunch. Some of these techniques include yard or vehicle signage, business cards, t-shirts and hats, door hangers, pens, buttons, business card magnets, flyers and auto shades. What I really want to focus on today though, is using business cards to locate motivated sellers.
When having business cards printed, there are a couple of things you want to keep in mind. One is that your business card needs to have a grabber headline and it needs to catch people’s attention by looking different from every other business card out there.
Use bright colors and a benefit driven message on your business cards. List the reasons on your card why that seller should work with you and how you can help them. Remember business cards are a highly effective inexpensive lead generating tool for your business. On your business card, you want to provide your potential seller with a couple of different ways to contact you so they can contact you in the way that is most comfortable for them. So for example your card might include your phone number, your email address and a website for them to check out. The more ways you give a potential seller to contact you, the more of them will. Read More→
Bring Your Deals, Your Checkbook and Let’s Make a Deal on November 9, 2015
Posted on November 8, 2015 byBring Your Deals & Your Checkbook
& Come Ready To Make a Deal!
Monday, November 9th at 6PM
Hudson Grille, 6317 Roswell Rd, Sandy Springs
MEETING DAY/DATE AND LOCATION HAS CHANGED
Atlanta REIA Members & Guests, Please RSVP on Meetup.com
The “Let’s Make A Deal” group is a subgroup of the Atlanta REIA led by Lynn Overall and Don DeRosa that now meets on the 2nd Monday of each month at 6PM at the Hudson Grille located at 6317 Roswell Rd in Sandy Springs, GA. The focus of the group is to take new investors through the entire process of repurposing distressed home. Each home is purchased by the group and is completed as a Joint Venture. An experienced rehab investor then leads the group through the rehab process. Risk of loss is mitigated through the use of a consistent system for rehabbing homes, and through the use of experienced contractors. Our goal is to purchase a new property at each of our meetings.
During the meeting, we will identify a property, hard or private money lender, and a contractor. We will finance the deal using a participating money lender, all of whom attend the meetings. Do not leave your checkbooks at home because we buy properties at each meeting.
The sponsors of the “Let’s Make A Deal” group have successfully repurposed homes in California, Texas, Georgia, and Florida. If you are a new investor looking to be a participant in a home rehab project, then this is definitely the group for you. Please keep in mind that everyone who attends “Let’s Make A Deal” is required to participate. The minimum size of the investment will be determined by the purchase price of the home presented at the meeting.
Come on out and check out the meeting. We would love to have you join our team! We are looking forward to learning and earning with you!
The Most Commonly Missed Items On Rehab Estimates
Posted on November 8, 2015 byWe’ve all been there. We go through and estimate repairs on a property and miss something. Sometimes, that something may be minor however it could be quite significant. This tends to happen when the rehabs are larger in scope or have a structural or foundation issue that needs addressing. I don’t usually see wholesale courses that teach how to address these sorts of things when dealing with these points beyond generalities. However, generalities is usually not going to get this done right and does little to build confidence in Buyers.
While Buyers of course are expected to do their own due diligence, it has more than frustrated countless Buyers when wholesaler numbers end up being way off due to this common ignorance. I thought I would take some time to outline some common figures for our market for a variety of these often overlooked items. Take this and adapt it to your area and this will give you a solid starting point. Read More→
Mountain REIA Meets November 3rd
Posted on November 2, 2015 bywith Special Guest, Machelle Redmond
November 3rd, 6:30PM, Golden Corral, Cumming, GA
Atlanta REIA Members & Guests, Please RSVP on Meetup.com
We are excited to announce that Managing Partner of the Redmond Law Group, Machelle Redmond Esq., will be our special guest speaker this month at the Mountain REIA monthly meeting. The meeting will be held on Tuesday, November 3rd at 6:30PM at the Golden Corral located at 2025 Market Place Blvd, Cumming, GA. During this presentation, Machelle will be giving us a briefing on the Dodd-Frank Act and how it applies to real estate investing.
The Dodd-Frank Wall Street Reform and Comprehensive Protection Act, or Dodd-Frank Act, Represents the most comprehensive financial regulatory reform measures taken since the great depression.
Whether you are a Wholesaler, a Flipper, a Buy and Hold Investor, a Lender or a consumer, Dodd- Frank will impact your real estate practices. Although the act is designed to “protect homeowners,” it will affect us all. Much about the Act is still not clear and the policies, etc. are still being formulated. As a result, there is much confusion and uncertainty within the investment community.
Machelle L. Redmond, Managing Partner of the Redmond Law Group, has been a resident of Atlanta since 1984. Ms. Redmond has practiced exclusively in the areas of real estate and business since 1998 and has been a featured speaker for numerous continuing education seminars for realtors, lenders and attorneys and has published several articles on real estate related matters for trade magazines and other publications.
In 2008, Machelle Redmond founded the Redmond Real Estate Institute, a non-profit organization providing continuing education courses to Realtors® and promoting real estate education within the community.
- State Bar of Georgia (Former Real Property Executive Board Member)
- Licensed Broker, Georgia Real Estate Commission
- Former Licensee, National Association of Securities Dealers
- Redmond Law,LLC is a HUD approved closing attorney in Georgia and Alabama
- Junior League of Atlanta
Atlanta REIA Members & Guests, Please RSVP on Meetup.com
Mountain REIA is a real estate investors association formed by Gordon Catts that meets on the 1st Tuesday of the month at 6:30PM at the Golden Corral located at 2025 Market Place Blvd in Cumming, Georgia. This group is an educational and networking group that brings in local, active investors and to provide information and education in a low or no-sales environment. This group is open to everyone, so please come join local real estate investors to network, share information, and interact with local and regional experts. There is a $2 meeting fee payable at the door. Also, please be prepared to patron the restaurant, enjoy the networking, and the outstanding information! Please remember to tip the wait staff generously as well for their support of our group. We look forward to seeing you at the meeting!
Atlanta REIA South & Multi-Family Group Meets Nov 4th
Posted on November 2, 2015 bywith Special Guest, Machelle Redmond
November4th, 6PM, Club E Atlanta
3707 Main Street, College Park, GA
Atlanta REIA Members and Guests Please RSVP on Meetup.com
We are excited to announce that this month at the Atlanta REIA South / Multi-Family Commercial Investing Group monthly meeting, our special guest speaker will be Managing Partner of the Redmond Law Group, Machelle Redmond Esq. The meeting will be held on Wednesday, November 4th at 6PM at Club E Atlanta located at 3707 Main Street in College Park, GA. At the meeting, Machelle will be giving us a briefing on the Dodd-Frank Act and how it applies to real estate investing.
The Dodd-Frank Wall Street Reform and Comprehensive Protection Act, or Dodd-Frank Act, Represents the most comprehensive financial regulatory reform measures taken since the great depression.
Whether you are a Wholesaler, a Flipper, a Buy and Hold Investor, a Lender or a consumer, Dodd- Frank will impact your real estate practices. Although the act is designed to “protect homeowners,” it will affect us all. Much about the Act is still not clear and the policies, etc. are still being formulated. As a result, there is much confusion and uncertainty within the investment community.
Machelle L. Redmond, Managing Partner of the Redmond Law Group, has been a resident of Atlanta since 1984. Ms. Redmond has practiced exclusively in the areas of real estate and business since 1998 and has been a featured speaker for numerous continuing education seminars for realtors, lenders and attorneys and has published several articles on real estate related matters for trade magazines and other publications.
In 2008, Machelle Redmond founded the Redmond Real Estate Institute, a non-profit organization providing continuing education courses to Realtors® and promoting real estate education within the community.
- State Bar of Georgia (Former Real Property Executive Board Member)
- Licensed Broker, Georgia Real Estate Commission
- Former Licensee, National Association of Securities Dealers
- Redmond Law,LLC is a HUD approved closing attorney in Georgia and Alabama
- Junior League of Atlanta
Atlanta REIA Members and Guests Please RSVP on Meetup.com
The Atlanta REIA South monthly meeting, led by Reggie Jackson and Gordon Catts, is held on the 1st Wednesday of each month at 6PM at Club E Atlanta located at 3707 Main Street, College Park, GA.
The Multi Family Investing Focus Group Meeting, led by Carla Gamper and Gordon Catts now meets on the 1st Wednesday of each month at 6PM at Club E Atlanta located at 3707 Main Street, College Park, GA.
There is currently a $15 cover charge for everyone who attends the meeting which is payable at the door and includes a light meal. Get there at 6:00PM to eat and network before the meeting begins. There will be lots of learning and lots of networking. Make sure to bring your deals and your haves, wants, and needs to the meeting. See you there!
Atlanta REIA North Meets Oct 28th, 2015 with Gordon Catts
Posted on October 28, 2015 byForum & Networking
with Gordon Catts
October 28th, 6:30PM
1960 Skylar Hill Dr, Suite D, Buford, GA
Atlanta REIA Members Please RSVP on Meetup.com
if you have a meetup account. Non-Members RSVP Here for $5.00
This month at Atlanta REIA North we will have an open real estate investor forum and networking with Gordon Catts. The meeting will be held on Wednesday, October 28th at 6:30PM located at 1960 Skylar Hill Dr, Suite D, Buford, GA. . At the meeting, Gordon will take questions from the audience and lead an interactive discussion and networking session with all who attend. If you want to get started investing in real estate or are all ready and active investor with questions, come out and join us at the Atlanta REIA North Meeting.
The Atlanta REIA North meeting is held on the 4th Wednesday of each month at 6:30PM at 1960 Skylar Hill Dr, Suite D, Buford, GA. Atlanta REIA members can attend this meeting for FREE and guests and non-members can pay just $10 at the door OR pre-register online for only $5! Plan to get there early at 6PM to eat and network before the meeting begins. There will be lots of learning and lots of networking. Bring your deals and your haves, wants and needs to the event.
We look forward to seeing you at the meeting!
After the conclusion of the Atlanta REIA North Meeting (after 9:30PM), we will be reconvening at the Tannery Row Ale House located at 554 W Main St in historic downtown Buford, GA for the “Meeting after the Meeting”. We may arrive late if the Atlanta REIA North Meeting runs late. So please come eat, drink, network and have fun with us as hang out late into the night!
Atlanta REIA Main Meeting on November 2, 2015 with Dorsie Boddiford
Posted on October 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.
Atlanta REIA Members Please RSVP on Meetup.com
Atlanta REIA is excited to announce that Dorsie Boddiford will be the special guest speaker at our Main Monthly Meeting on Monday, November 2nd at 5PM. The meeting will take place at Atlanta Unity located at 3597 Parkway Lane in Norcross, GA. Dorsie will be discussing her career as a very successful, young real estate investor and how she keeps more money in her pocket with tax saving strategies.
Here’s what Dorsie says about her presentation…
“It’s a great feeling to get that big check after flipping and selling a property, but it always seems like Uncle Sam gets the better end of the deal. And I cringe this time every year as I pay my property taxes that seem to always be on the rise, no matter what. Now don’t get me wrong, I don’t mind paying my fair share but I was always taught to pay my fair share and not a penny more.
Successful, experienced real estate investors have the structure and systems in place to minimize their taxes. Are you following their examples? These investors structure their deals so that they can maximize their profit and minimize their costs. Their businesses are also set up with specific entities so that they can gain maximum tax benefits. Even if you are a beginner investor, a working knowledge of tax-saving strategies will benefit you in your day-to-day investments.”
Some of the topics Dorsie will discuss include:
- Purposeful business planning: when its best to invest personally, in a Corporation, or in an LLC
- Investing using tax-deferred and tax-free retirement accounts, such as the Roth component of the Solo 401k (my favorite!)
- How to keep your property taxes low(er)
- Structuring deals for minimum tax hit and maximum profit
- Other tax strategies such as 1031 Exchanges and Section 121 sales
“Come see some real life examples of how I reduce my taxes with purposeful business planning and strategic deal structuring!”
About Dorsie Boddiford
Dorsie Boddiford is a 27 year old, full-time real estate investor. Upon graduating from Georgia Tech with a degree in Building Construction, she took the risk to become a full-time, real estate investing entrepreneur and purchased her first house. She has built a business out of flipping houses while striving towards financial freedom with investments. Her deals include purchases at foreclosure auctions and tax deed sales, negotiations for owner-financing, deals through door knocking and mail outs, as well as deals with other investors through wrap mortgages, hard money loans, and equity participation.
Dorsie’s investments also include a focus on wealth building through retirement accounts and she recently released her book “The Solo 401k: The Entrepreneur’s Guide to a Powerful Pension Plan” that she co-wrote with her father, Dyches Boddiford. Becoming an active investor was no easy task, but Dorsie has no regrets with her real estate career. She enjoys helping and encouraging other new investors who are eager to begin their journey out of the rat race. Her early successes have made her appreciate the power of working for herself.
Don’t miss this great opportunity to learn from a successful, young real estate investor who is making deals happen and keeping more of her hard earned money by legally reducing her tax burden. All this is happening at the Atlanta REIA main meeting on Monday, November 2nd at 5PM at Atlanta Unity located at 3597 Parkway Lane in Norcross, GA.
As always, Atlanta REIA Members can attend the event at no charge and Non-Members can Register Online for $20 or pay $25.00 at the door. Be sure to bring your business cards and flyers and join us for an evening of real estate deals, vendors, networking, education and fun! See you there!
Atlanta REIA Members Please RSVP on Meetup.com
*Please Note: Meeting agenda is subject to change.
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.
is the Meeting Before the Meeting
with Don DeRosa
Atlanta REIA Members Please RSVP on Meetup.com
Have you ever wanted to start a career in real estate investing but you didn’t really know where to start? Do you know that you will need some training and coaching but can’t afford the high cost of one-on-one mentoring? Maybe you are just a little hesitant to invest so much money in coaching without seeing that real estate investing can make you some serious money first. Well, we have the perfect training for you.
Join us on Monday, November 2nd at 5PM at the Hightech Homebuyers Group (prior to the Atlanta REIA Main Meeting) where Real Estate Investing expert, Don DeRosa, will show you how to get started in real estate without having all the knowledge of how the business works, by being a bird dog.
Highlights of the Bird Dog Training Program…
- Get all the marketing training and materials you will need to bring in as many leads as you want
- Bi-Weekly meetings where you will review progress, discuss wins, and celebrate successes
- Spend a day out driving with an expert investor learning their techniques to look for promising leads
- Receive $1000 or 20% of the profit (whichever is greater) for every single lead you bring in that turns into a profitable deal
- Simple and easy to follow
- You can start making money right away on a part or full time basis
- And much, much more!
Don’t miss out on learning about the most inexpensive training opportunity you will find where you can start making money in real estate investing right away!
We are looking forward to seeing you at the meeting!
Atlanta REIA Members Please RSVP on Meetup.com
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>>
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>>
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>>
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>>
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>>
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>>
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>>
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.
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>>
Auction.com
FundSource Financial, LLC
Seasoned Investor Shares Wisdom at Atlanta REIA West Meeting on Oct 26, 2015
Posted on October 26, 2015 byOctober 26th, 6:30PM, Cherokee Cattle Company
2710 Canton Rd, Marietta, GA
Atlanta REIA Members Attend for FREE. Guests pay $10 at the Door.
2-for-1 Guest Special This Month Only! OR
Guests can join Atlanta REIA for Only $100/year and Attend for FREE!
Atlanta REIA Members Please RSVP on Meetup.com
At October’s Wild West Event, we’re hosting special guest and friend Bill Cook. Bill Is an “old, seasoned investor” (his words, not mine!) who has learned and put into practice sound business and investing principles over the years. Doing so has allowed him and his wife Kim to now lead a lifestyle that few achieve. The meeting will take place on Monday, October 26th at 6:30PM at the Cherokee Cattle Company located at 2710 Canton Rd in Marietta.
Click Here to Watch a Video of Bill Talking About Monday’s Meeting!
If you haven’t seen Bill speak, you’re in for a real treat! This man is as real and down to earth as it gets. You’ll find his style refreshing, and you’ll have a great time with us (Bill is quite the comedian-just ask him!). We’ll discuss the things you need to know – and do – if your goal is to prosper as a real estate investor. We won’t talk about the obvious things. Rather, we’ll discuss the things few investors have experience with – and fewer still ever talk about in public.
Here’s what you’ll learn:
- How does Bill – being an old, seasoned investor – quickly tell whether the deal is good or not? How does Bill know what he’s looking at? And if Bill decided to take the deal down, how does he get it funded fast?
- What things do you need to have in place before you up your game and become a full-time real estate investor? Bill did a LOT of legwork in 1997 before going full-time on January 1, 1998. You’ll learn what Bill did to insure success.
- The goal is to get mailbox money and achieve financial freedom. But how do you accomplish this if you HATE rental property and DESPISE tenants? It’s easier to do than you think. It just requires you to structure your deals differently.
- If you’ve done ten or more deals, then you’re an experienced investor. That said, are you still structuring your deals the same way you did when you were new? Want to see how you should be constructing your deals in order to reduce the tax bite and increase profit margins?
- If you think you may want to partner on a deal, what do you look for in a partner? And what should your partner look for in you?
- If you decide you need a mentor, what are the critical things you need from that mentor? What important questions do you need answered before picking a mentor?
- Record keeping. Boring right? But boy is it ever important. Want to see how an old, seasoned investor does his record keeping? If you do, you need to be at October’s meeting!
This will be a great evening. We look forward to seeing your smiling face. Please bring family and friends. And remember: We LOVE questions and input – questions and input make us all better, smarter, wiser real estate investors!
AtlantaREIA Members get in FREE, and guests are just $10 at the door. Guests are 2 for 1 admission, this month only!
Attention North Ga. REIA Members! We’d like you to join us, for sure. Bill has lots more to share with you, and he just couldn’t fit it all in to his meeting on Oct. 8th. Come join us to hear more – for October’s meeting, your admission is FREE! (But Bill’s not stripping for us this time)
Join us Monday, October 26 at 6:30pm at The Cherokee Cattle Company at 2710 Canton Rd. in Marietta. Bring your business cards and your haves and wants-and be ready to have a great time! See you there, pardner!
WIN A FREE CARIBBEAN VACATION FOR TWO!: All participants who attend the Atlanta REIA West Meeting will be entered into a drawing for a chance to win a *FREE Caribbean Vacation for TWO and other great door prizes! *You must be present at the meeting to win. The Caribbean vacation does not include transportation, taxes, upgrades, etc.
Atlanta REIA Members Please RSVP on Meetup.com
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 located at 2710 Canton Rd in Marietta. The next meeting will be held on Monday, October 26th at 6:30PM. Atlanta REIA Members can attend for FREE and guests, 2-for-1 for $10. 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.
See you at the meeting on Monday, October 26th at 6:30PM at the Cherokee Cattle Company located at 2710 Canton Rd in Marietta!
After the conclusion of the Atlanta REIA West meeting (after 9PM), 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: West Meeting agenda is subject to change.
The Profit Newsletter October 2015 Edition
Posted on October 20, 2015 by
The October 2015 Edition of The Profit Newsletter is now available for download. There are 46 pages of valuable information this month for your real estate investing success. Download it and check it out! The Profit is Atlanta REIA’s digital, interactive newsletter for serious real estate investors delivered as an Adobe PDF file to read on your PC, Mac, Smart Phone, iPad or other mobile ready devices. Many of the articles and ads in The Profit contain many hyperlinks you can click to get more information online! The high res version of The Profit is “print ready” for those who want to print the newsletter on their home or business printer. Be sure to Subscribe to The Profit by Email or Subscribe to The Profit by Text so you don’t miss a single issue.
System for Success
Posted on October 20, 2015 byWhat will you do when things don’t go as planned? Will you flounder, or will you be able to put into motion a clear set of actions? In other words,
Do you have a System for Success?
Recently, a colleague of mine had two contractors burn him on a job. It should have been a quick fix, three days maximum, light work… paint, cleaning, and light bulbs. But neither contractor had a system to get the job done right, and he did not have a system to fire contractors and still come in on budget. The upshot is that, without a system, you risk losing time and money.
Often, when things don’t go as planned (and this can be often!), we have fear. We become paralyzed, perhaps we focus on the negative. To be successful, we need a plan that keeps us from feeling this way because what we want is success.
What does a good system give you? Read More→
How Big Can You Go? Ask Your Sponsor
Posted on October 20, 2015 by“What size property is right for me to start with?” This is a question I get asked all the time. My answer is usually the same. “Depends on how much of a loan you can qualify for”.
Unless you already have all the cash you need to buy your next apartment deal (and I am assuming you don’t) then you are going to need to get a loan. Understanding what it takes to qualify for a loan is one of the best ways to decide on a property size when you are starting out. If you try and go too big you are limiting the chances that you will complete the project. 80% of your efforts in finding deals should be spent looking at deals that have the highest chance of closing. What has the best chance of closing? Ask your sponsor.
In almost all loans commercial lenders want to see that you have the net worth equal to or greater than the loan amount. For example if you want to borrow $1,000,000 then you need to have a total net worth of at least $1,000,000 or more. Now, the nice thing about this situation is it doesn’t have to be just your net worth, it can include the net worth of your sponsor. A sponsor is a high net worth partner that you get to join you in the deal who brings the balance sheet you need to satisfy your lender. That is the great part of the multifamily business. We can get partners that will help us build our business and there is enough cash flow and equity for us all. Read More→
