It is as easy to succeed as it is to fail. Why does this sound untrue? Because most of us forget that we have a choice: we can enjoy the good and overcome the negative. What we must remember is that when we encounter something that we initially see as negative, we have a choice about how to react.

Did you know that Harland David Sanders, the famous KFC “Colonel”, couldn’t sell his chicken? More than 1,000 restaurants rejected him.

Or that Walt Disney was fired by a newspaper editor because he “lacked imagination and had no good ideas”?

Or that Henry Ford’s first auto company went out of business?

What made these people successful after so many “failures”? Read More→

(This article is continued from Part 1 in the July 2013 Edition of The Profit Newsletter.)

3. Listening to poor advice. This is something you probably already know. As you go through life, there will never be a shortage of people who want to give you advice. Your parents, your spouse, friends, in-laws, kids, they all have opinions about what you’re doing and what they think you should be doing. Very often, the value of their advice is worth exactly what you paid for it . . . nothing!

   I’m not saying these do-gooders aren’t honest, intelligent and well-intentioned. However, you must ask yourself, are these folks qualified to give you advice? Have they had any experience in what you’re doing? It seems to be human nature for people to offer advice on subjects they know nothing about. What baffles me is how often the recipients of this so-called wisdom will listen to it and even act upon it without ever questioning the credentials of those giving it.

   Through many painful experiences, I’ve learned that when you take advice from people who don’t know any more about the subject matter than you do, the quality of that advice is, at best, suspect. Plus, very often, listening to unqualified advice can have a negative impact on your focus (see roadblock #1).

   So, who should you be listening to? I believe in taking advice only from people who are: Read More→

Combining a self-directed IRA and real estate is a trend that is picking up speed fast! Real estate investors are redirecting their focus and purchasing homes with their self-directed IRAs in mass. Partly because they refuse to settle for living on the measly average $1,230 per month social security check that many retirees are forced to budget with.

Large companies are cutting back on their employees’ hours in preparation for the Obama Care regulations and this change is causing people to rethink their futures prompting them to obtain both a self-directed IRA and real estate investments. With their salaries shrinking, they are looking for alternative revenue streams to build their retirement accounts.

So why is real estate picking up steam? Many people have lost their homes to foreclosure, others can’t get financing due to the new bank regulations, and some people simply do not have enough confidence in the real estate market to buy a home so they are looking for rental properties to live in. For these reasons, the demand for rental properties is at an all-time high and real estate prices, while slightly on the rise, are still low enough to make this an investors’ market.  Large cities listed in the top 10 fastest-growing U.S. cities of 2013 are among the most sought after in the rental market. There are droves of residential properties on the market at great prices and investors are buying them up quickly. Read More→

I am consistently asked about liens.  Who can file a lien?  How can I file one?  What are my rights?  These are all common questions I hear from real estate brokers, contractors, landlords and others.  For the next few months, I will discuss different industries that have the right to file a lien against real estate.  In all these industries, the right to lien arises when services or goods provided go unpaid.  I will also briefly outline the legal process for perfecting these liens and the necessary next steps.  To begin, I discuss real estate broker’s liens, specifically commercial real estate brokers and the Commercial Real Estate Broker Lien Act.[1]

Licensed commercial real estate brokers have the right to file a lien for services rendered, which are not paid.  There is no lien statute for residential real estate brokers.  Commercial brokers have the right to file a lien for virtually all compensation that has been agreed to.  This includes commissions and compensation for sales, leasing, property management, consulting services and auctions. 

Commercial brokers have the right to file a lien against commercial property only.  Commercial property is defined as all real estate other than: (1) “real estate containing one to four residential units;” (2) vacant land which “is not zoned for nor available for commercial, multifamily, or retail use;” or (3) agricultural land.[2]  Again, there is no right for a real estate broker to file a lien against residential real estate.  Read More→

So how are we going to get ready to have a conversation with our motivated sellers? I believe that readiness is a state of mind, and I have put together some ideas for you designed to help you have meaningful and successful conversations with motivated sellers resulting in profitable deals.

First of all, expect to be anxious and know that it’s okay to be anxious. You probably wouldn’t be very good at what you do if you didn’t care about the outcome.

Next, while you are feeling anxious, get in front of a mirror and practice what you are going to say to the seller. Do this more than once. The more you practice what you are going to say, the more comfortable you will be and therefore less likely to forget what you were going to say. Practice controlling your voice and be mindful of how fast you are talking. Your speech should be at a moderate volume and speed when speaking to a seller.

Remember to breathe! Practice what you are going to say all the way through without making faces, gasping or throwing out any expletives. Your seller doesn’t care if you’re speech is perfect, they just want to know what you can do for them to help them solve their problem. You might even want to practice what you are going to say in front of a spouse or close friend. Read More→

Okay, the media in general is touting the US economy is doing better than it has over the last bunch of quarters. People across the country are working again. Typically this news leads people to feel better about the overall economy. More directly, this has translated to a recovery in the real estate market.

Signs show home values are coming up from the lows of 2008-2011. It is easy to keep track of values using REIAComps. Sales in many markets have been increasing and there a good volume of houses to choose from and lastly the number of folks looking to buy are up.

These previously mentioned factors are good for people who purchased at the height in 2004-2007. This was the time period when negative equity was born. Upside down mortgages became common place far too often. Read More→

A conversation with Elsa Palmer, Owner of VA Staffing, a new business member with Atlanta REIA. 

Hello Elsa and welcome to the Atlanta Real Estate Investors Alliance. Tell our membership a little about VA Staffing. Virtual Office VA Staffing was designed for today’s business professional in mind. We pride ourselves in offering top-notch results to business owners and employment opportunities for committed individuals who want to work from the comfort of their homes. We are a U.S. based company with trained VA’s located all over the country with a variety of skill sets. Whatever task you need done, we pretty much have you covered!

What exactly is a VA? A Virtual Assistant is a professional that provides virtual, or distance support from their home office, to their clients as an independent contractor instead of an employee. VA’s work from their own home offices, use their own equipment, and provide services to businesses, investors, entrepreneurs, executives, loan officers, realtors, or any other busy person or business. Projects or assignments are usually communicated through e-mail, phone, or fax. Whatever the project, information is transferred easily between the client and their Virtual Assistant. Virtual Assistants are entrepreneurs, highly skilled in their profession and able to have a powerful impact on the productivity of those they work with.

What can a virtual assistant do? Almost any task a regular assistant can do and more! For Real Estate Investors, we can do FSBO research and calls to obtain leads, yellow letter mailing and handling of yellow letter calls to obtain leads, post ads, handle buyer calls, and any administrative task you might have. We also offer advertising/marketing (traditional & online), web development, social media, newsletters, articles, blogging, SEO, affiliate marketing, book keeping, data entry, follow up calls, appointment setting, travel preparations, reputation management, answering service, and more for any business! Read More→