Search Results for "bill cook"
The Profit Newsletter August 2014 Edition
Posted on July 28, 2014 by
The August 2014 Edition of The Profit Newsletter is available for download just in time for our Atlanta REIA Main Meeting on August 4th. The Profit is an digital, interactive newsletter for new and seasoned real estate investors delivered as an Adobe PDF file to read on your PC, Mac, Smart Phone, iPad or other mobile ready devices with a PDF reader. 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 high res version of The Profit is “print ready” for those who want to print the newsletter on their home or business printer. Also, be sure to Subscribe to The Profit Here so you don’t miss a single monthly issue.
How Do You Fund Your Deals?
Posted on July 28, 2014 byJust met with a would-be real estate investor. For two years she’s been trying to get into the investing business. Problem is, she has yet to meet with a seller face-to-face.
When I asked why she hasn’t met with any sellers, she said: “What if the seller takes my offer? How am I gonna pay for the property? Banks sure aren’t lending to investors right now!”
Ironically, the fear of the seller saying, “YES!” is what keeps most would-be investors from ever making their first offer. But the astonishing thing is, if your deal is a good one, the money will ALWAYS find you!
We get loads of calls from investors who are looking for money to fund their deals. For example, yesterday an investor contacted me about a 2-bedroom, 2-bath condo he wanted to buy and flip. The condo’s ARV (after repaired value) is $65,000. It needs $15,000 in repairs. The seller agreed to a $48,000 sale price. But when all the expenses are factored in, there’s no way this investor will make a dime on this deal, and that’s why no one will fund this one. Read More→
The Profit Newsletter July 2014 Edition
Posted on July 1, 2014 by
The July 2014 Edition of The Profit Newsletter is available for download just in time for our Atlanta REIA Main Meeting on July 7th. The Profit is an digital, interactive newsletter for new and seasoned real estate investors delivered as an Adobe PDF file to read on your PC, Mac, Smart Phone, iPad or other mobile ready devices with a PDF reader. 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 high res version of The Profit is “print ready” for those who want to print the newsletter on their home or business printer. Also, be sure to Subscribe to The Profit Here so you don’t miss a single monthly issue.
Doing a Subject-to Deal?
Posted on July 1, 2014 byIn last month’s column, we outlined a Subject-to Deal. This month let’s look at this advanced deal-structuring technique in action. (NOTE: You can find last month’s column here on AtlantaREIA.com).
In mid-March, we got a call from an experienced investor. He owned several single-family rental homes. He had received a call from a motivated seller, who, because of a difficult family situation, wanted his house sold in less than a week.
For years, this investor had heard me talk about Subject-to Deals. He thought this technique would be the perfect solution for this seller’s problem, and called to see if I’d help him with the deal.
(Sidebar: A Subject-to Deal is when you buy someone’s property, but instead of paying off their mortgage at closing, the seller leaves his mortgage in place, and you agree to make the seller’s mortgage payments, on the seller’s mortgage, for the seller.)
The first thing we did was meet at the seller’s house to discuss the situation and to look at the property. Read More→
The Profit Newsletter June 2014 Edition
Posted on June 2, 2014 by
The June 2014 Edition of The Profit Newsletter is available for download just in time for our Atlanta REIA Main Meeting on June 2nd. The Profit is an digital, interactive newsletter for new and seasoned real estate investors delivered as an Adobe PDF file to read on your PC, Mac, Smart Phone, iPad or other mobile ready devices with a PDF reader. 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 high res version of The Profit is “print ready” for those who want to print the newsletter on their home or business printer. Also, be sure to Subscribe to The Profit Here so you don’t miss a single monthly issue.
What is a Subject-to Deal?
Posted on May 31, 2014 byIn previous columns, I’ve mentioned Subject-to Deals. This generated a lot of what-is-that phone calls and emails – from both real estate investors and realtors.
To help folks better understand this advanced creative deal-structuring technique, this month I’ll explain what it is. Next month, we’ll look at a Subject-to Deal we just did.
Normally, when you buy a house, the seller’s mortgage is paid off at closing. With a Subject-to Deal, the seller’s mortgage is NOT paid off at closing. Instead, when the property is deeded to the buyer, the seller’s mortgage remains in place and the buyer promises to pay the seller’s mortgage payments, on the seller’s mortgage, for the seller. In other words, the buyer is buying the property subject-to the seller’s mortgage. Think of it as a form of owner financing.
When first hearing about Subject-to Deals, most folks believe this type of transaction must be illegal – Kim and I hear this all the time. Fact is, Subject-to Deals have been around for decades. Look at lines 203 and 503 on any HUD-1. It reads: Existing loans taken subject to. Read More→
The Profit Newsletter May 2014 Edition
Posted on May 2, 2014 by
The May 2014 Edition of The Profit Newsletter is available for download just in time for our Atlanta REIA Main Meeting on May 7th. The Profit is an digital, interactive newsletter for new and seasoned real estate investors delivered as an Adobe PDF file to read on your PC, Mac, Smart Phone, iPad or other mobile ready devices with a PDF reader. 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 high res version of The Profit is “print ready” for those who want to print the newsletter on their home or business printer. Also, be sure to Subscribe to The Profit Here so you don’t miss a single monthly issue.
Dung Beetle Meets Honey Badger
Posted on May 2, 2014 byMy plan for 2014 is to spend a lot of time traveling the country teaching real estate investors how to knock on sellers’ doors and creatively structure and fund deals.
The Alpha and Omega of successful real estate investing is to get face-to-face with sellers on a regular basis and make lots of written offers. Nothing an investor does is more important than this. And for the past nineteen years, I’ve proven time and again that the fastest, cheapest and most effective way to get face-to-face with sellers is to simply knock on sellers’ doors – eight out of ten sellers will invite you in!
The skeptics – and there are many – say, “Bill, that door-knocking thing may work in Georgia, but it won’t work in (insert whatever state you want).” The thing is, since 1978, I’ve traveled around the country (and most of Canada) making a living by knocking on homeowners’ doors. The truth is, people are the same everywhere – wonderfully kind wherever you go!
I told some investor friends in Tampa, Florida that I’ll be heading down there soon. A texted message came from Timber Benning, a real estate investor in that area. Her text read: Hey Honey Badger, when you come down, please keep me in the loop for your door-knocking extravaganza.
Honey Badger? What in the heck is a Honey Badger? I called Timber and she explained that at Wayne Arnold’s Exchangers meeting in St. Pete, he told his folks that I was coming down and that they should spend some time door-knocking with me. He said that when it came to door-knocking, I was like a Honey Badger. Read More→
The Profit Newsletter April 2014 Edition
Posted on April 4, 2014 by
The April 2014 Edition of The Profit Newsletter is available for download just in time for our Atlanta REIA Main Meeting on April 7th. The Profit is an digital, interactive newsletter for new and seasoned real estate investors delivered as an Adobe PDF file to read on your PC, Mac, Smart Phone, iPad or other mobile ready devices with a PDF reader. 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 high res version of The Profit is “print ready” for those who want to print the newsletter on their home or business printer. Also, be sure to Subscribe to The Profit Here so you don’t miss a single monthly issue.
$1 Million in the Bank and Starving to Death
Posted on April 4, 2014 byJust met with a guy who has a very interesting story that you’re not going to believe: He has $1 million in the bank, but doesn’t have enough money to buy food! He’s practically starving to death.
This guy worked hard, saved hard and invested wisely his entire life. When he retired, he had $1 million in liquid capital. To keep his money safe – the volatility of the stock market scares him – he invested his money in bank CD’s paying 3.6% interest. Last year, when the CD’s matured, he was forced to roll his retirement money into new CD’s with a dismal 0.6% interest rate.
Here’s the thing: These days, this guy’s investment doesn’t earn him enough to live on – he’s forced to exist like a pauper. He said, “Once I became a millionaire, I thought I’d never want for anything. I couldn’t have been more wrong!”
Before your dumbfounded look affixes to your face forever, fully understand this man’s predicament. He and his wife have $1 million cash, but they don’t want to spend any of this principal. Their retirement goal is to live off the interest the $1 million generates. Read More→
The Profit Newsletter March 2014 Edition
Posted on February 28, 2014 by
The March 2014 Edition of The Profit Newsletter is available for download just in time for our Atlanta REIA Main Meeting on March 3rd. You can download The Profit Newsletter as a High Quality PDF or Low Res PDF for slower devices. The Profit is the official newsletter of the Atlanta Real Estate Investors Alliance and is a digital, interactive newsletter for new and seasoned real estate investors delivered as an Adobe PDF file to read on your PC, Mac, Smart Phone, iPad or other mobile ready devices with a PDF reader. 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 high res version of The Profit is “print ready” for those who want to print the newsletter on their home or business printer. Also, be sure to Subscribe to The Profit Here so you don’t miss a single monthly issue.
Why Are the Number of Foreclosures Plummeting?
Posted on February 28, 2014 byThere’s no doubt that the number of properties being advertised for foreclosure has been plummeting for the past year and a half. The question is, why?
In 2009, when foreclosure numbers began to skyrocket, the only way a bank could deal with borrowers who were behind on their mortgages was to foreclose. The fact that banks – actually it was loan servicers like the infamous MERS – didn’t have possession of the borrower’s note, nor the legal right to foreclose on the property, is a topic for judges and attorneys.
At the same time, you had thousands of borrowers who, because they couldn’t/wouldn’t make their mortgage payments, simply “gave the house back” and walked away. (It didn’t matter to the borrowers that the bank didn’t give them a house; it gave them money…and the bank – rightfully so – wanted their money back, not a house.) A bank’s only tool to deal with this situation was to foreclose on the property, and then sell it in hopes of recouping some of their loss. Read More→
