Chattanooga REIA Blog
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Your Network Is Your Net Worth, Randy Shelley at BIG Tonight!
By Chattanooga REIA on October 17, 2017Net Worth!
with Randy Shelley
on Wed, October 18th, 6PM at
Wally's Restaurant in East Ridge
This month, we have as our guest, Randy Shelley, Co-Director of Chattanooga REIA, coming to show you how networking with other investors can catapult you to great success. Randy's business has been built on networking and we would like him to share about his experiences and knowledge at the Beginning Investors Group on Wednesday, October 18th at 6PM at Wally's Restaurant located at 6521 Ringgold Rd in East Ridge, TN. Please RSVP and come join us!
Randy will show you:
- The Tools You Need To Network
- What To Talk About or What To Say
- Why Networking Is So Important
- Plus, More Great Information!
Chattanooga REIA Members & Guests, Please RSVP on Meetup.com
Have you been a “real estate investor” for several months or even years without doing your first deal? What is holding you back? Fear? Lack of money? Credit Problems? Lack of Focus? Are you afraid you will screw it all up?
Why make such a big deal about your first deal? Well, it’s the hardest deal you will do, but once you get through it, your belief in yourself and real estate investing will rise dramatically. You will be on your way to becoming a true real estate investor.
BIG will have experienced local and regional investors speaking and leading interactive exercises on relevant topics on a beginners level. We also have mentors attending that can take you by the hand and can walk you through that first deal. So please join us on the 3rd Wednesday of every month. Arrive around 5:30PM so you can get some delicious food at Wally's in East Ridge.
The Chattanooga REIA Beginning Investors Group (BIG) hosted by Alan McDonald, is an educational and networking special interest group for new investors who are just getting started in real estate investing as well as “new again” real estate investors who’ve taken a few years off and are looking to get back in the game. BIG is hosted by Alan McDonald, who will be bringing in local and regional real estate experts to teach new investors how to survive and thrive in our ever changing economy and real estate market. The entire purpose of this group is to help new investors get their first deal and help new again investors get their next deal!
The Beginning Investors Group meets on the 3rd Wednesdays of each month from 6:00 PM to 8:15 PM at Wally's Restaurant located at 6521 Ringgold Rd, East Ridge, TN just off of I-75 at Exit 1. BIG is FREE for Chattanooga REIA Members. Guests and Not-Yet-Members will eventually pay a fee, but for now, there is no charge for anyone that attends. This is a “dinner” group and we kindly request that you buy dinner and/or drinks since Wally's allows us to meet there. There will be lots of learning and lots of networking. Bring your deals and your haves, wants and needs to the meeting for discussion.
Read More >>Wrapping It Up! with Wrap Lending with Dorsie Boddiford at Chattanooga Main Monthly Event Thursday Oct. 5th
By Chattanooga REIA on October 2, 2017
2343 Shallowford Village Dr, Chattanooga, TN
with Wrap Lending
with Dorsie Boddiford
Can Attend for NO CHARGE.
Basic & Not Yet Members Pay $15 at the Door.
Dorsie has been a full time real estate investor for the past 6 years. While focusing on building her real estate business and investment portfolio, Dorsie discovered that real estate investors have unique opportunities for retirement investing or cash generation on which we should be cashing in! One of these tools is Wrap Lending. Come hear Dorsie's strategy she uses to get phenomonal returns with a small starting sum. This will blow your mind!! You can also use wrap lending in conjunction with a Solo 401k to really SUPERCHARGE! your investing. Dorsie will also show us about the Solo 401K Plan. The Solo 401k has a lot of benefits that make it even more attractive than a self-directed IRA… AND you can even have a Solo 401k along with an IRA!
Here is some of what Dorsie will show you::
- What is a Wrap Mortgage?
- What kind of returns you can get from a Wrap Mortgage
- How you can qualify for a Solo 401k
- Setting up & using the Solo 401k
- Contribution Limits and how to maximize!
- Roth vs. Traditional Solo 401k accounts
- Planning for the future while saving on taxes now!
- And That's Not All...
If you want to learn even more about Wrap Lending, Dorsie has created a manual/workbook that will show you how you can use Wraps and Wrap Lending. She will be bringing a limited number of these manuals along with her Solo 401K book, that you may purchase at Thursday Night's event. There will be limited supplies, so be ready!
Join us on Thursday, October 5th to discover the golden nuggets and special "AHA!" moments that will certainly be uncovered. We will have networking, learning, Haves & Wants, and of course, A GREAT Time! RSVP NOW!!
PLEASE NOTE: Membership with Chattanooga REIA has changed. If you are a Gold or Silver (Affiliate) member, you may enter the event at No Charge. Basic Membership no longer exists, but you are still on Chattanooga REIA's email list. If you would like to become a Gold or Silver member, with all of it's benefits, Please go to http://chattanoogareia.com and save on event fees.
*Please Note: Main Meeting agenda is subject to change.
7 Strategies to Increase ROI on Keeper Properties by Reducing Vacancy
By Robyn Thompson on October 1, 2017
Here are my seven strategies to help increase your return on investment on keeper properties by reducing vacancy.
- Do Your Homework Before You Buy
Location, Location, Location… Search out the areas that have low vacancy rates. Talk to local realtors, property managers, and seasoned investors who have been renting units for over a decade before you take the plunge and buy a property.
For example, I want to own property where supply of rental properties is low and the demand is high. I own properties in a town where the schools are in the Top 50 Schools in America. Demand for rental property is high and my average days on market to rent are usually less than 2 weeks. Read More >>
Why Improve Your Raising Capital Presentation Skills?
By Russ Hiner on October 1, 2017
I believe we all need to improve our businesses. The only way to do this is intentional reflection and forensic analysis. We all can learn a better way to look at our business to stay on top of our game. The best example of this was back in 2000 when the market opened up and anyone who had credit could get into a house. I was using an old business model to screen tenants and respond to inquiries about my properties. I had to make a change quickly because the vacancies lasted longer than needed. I learned the lesson to stay on top of the market. If you become complacent your business will drop off.
In the last article, I wrote about sitting at the table with two sellers and working to get them to finance their house so I could renovate it. Then I would pay off the mortgage. It was a buy, fix, and sell. I will be using poetic license in referring to the “lender” as owner financing / private lending/ hard money. Read More >>
Rehabbing Your Way To Millions
By Kathy Kennebrook on October 1, 2017
In just about any real estate market I believe that there are a lot of great ways to make a fortune in real estate and one of those ways is to rehab and sell properties quickly. This is a strategy I implement on a daily basis in my own Real Estate Investing business.
There are some excellent resources for you to use to find vacant, ugly properties to rehab and sell in virtually any price range. One of those ways is to simply use targeted direct mail campaigns like I do to find motivated sellers of ugly vacant properties or estates.
This is a great way to find highly motivated sellers who need to sell quickly and there are great deals to be made for pennies on the dollar. Remember, your profit is made when you buy a property. Read More >>
Real Estate IRAs - Special Considerations for Vacant Properties
By Jim Hitt on October 1, 2017
We are seeing more interest among real estate IRA enthusiasts in purchasing distressed and vacant properties. Many times, the real estate IRA investor can purchase a promising vacant property at a substantial discount to its intrinsic value, which make these properties attractive value investments – especially for those real estate IRA investors who have the capital to upgrade these properties and make them once again attractive to tenants at a reasonable rent.
But as long as a property is vacant, there are some special considerations that investors need to consider: Read More >>
Why Can't You Get Sellers to Give You Seller Financing Terms? - Part 2
By Larry Harbolt on October 1, 2017
Last month I explained why sellers who live in the property they are selling usually do not have to pay high capital gain taxes. It is the exact opposite for property owners who do not live in the property they are selling. This is why I always prefer buying properties from sellers whose property is not their primary residence. These sellers will definitely have high capital gains taxes to pay if they get all cash when they sell.
Paying high taxes can be a huge deterrent for many sellers once they understand how much they will be losing. On the other hand, if the sellers do not, or have not lived in the property as their primary residence and you can’t convince them that if they get all of their money from the sale of their property at closing they will have to pay high taxes in the year of the sale you need to explain to them... Read More >>
Never Take Orders From Paint
By Bill Cook on October 1, 2017
The late Jack Miller was one of my primary real estate investing teachers. He was a wonderful man and an incredible educator and mentor. It’s hard to believe that he went to heaven almost six years ago…not a day goes by that he and I don’t have a conversation in my head.
Jack was the type of guy who very much marched to his own drum. One of his best quotes was: Never take orders from paint.
Let me explain: Have you ever turned onto a street, seen the One Way sign and realized that you were going the wrong way? What did you do – an immediate U-turn, right? That’s what most of us would do. But not Jack! Jack would keep going the way he was going and say, “Never take orders from paint!” Read More >>
What Sales Orders Are and When to Use Them
By Karen Bershad on October 1, 2017
They’re not as commonly used as invoices. But if you need them, they’re there.
When you want to document sales that you can’t (or won’t) fulfill immediately, but you plan to do so in the future, you can’t create an invoice just yet. This is where sales orders come in.
You may never need to create a sales order for a customer. Perhaps you have a service-based business, or you never run out of inventory. Or you simply don’t enter an order unless you know you have the item(s) in stock.
But if you plan to use sales orders, you must first make sure QuickBooks is set up to accommodate them. Open the Edit menu and select Preferences, then Sales & Customers. Click the Company Preferences tab to open that window. Read More >>
Irmageddon
By Jonathan Henrich on October 1, 2017
I hope all of you and your families affected by Hurricane Irma are all safe with little to no damage, and if that’s not the case, my thoughts and prayers are with you and your family. Irma taught me some valuable lessons. There are more than a few, but in this article I want to share with you 4 lessons that she taught me.
1) Worry: I’m sure many of you spent much time worrying about your family and loved ones, your safety, your rental properties, and much more. Personally, I probably took 10 years off my life with the amount of worry I experienced.
Shantideva, an 8th century monk said, “If a problem can be solved why worry, If a problem can’t be solved, then what use is it worrying?”
Can Playing "Monopoly" Help Your Real Estate Investing Business?
By Don DeRosa on October 1, 2017
"Negotiating is not something to be avoided or feared – it’s an everyday part of life." ~ Leigh Steinberg
What does the term ‘negotiate’ conjure up in your mind?
- A conflict where each side tries to ‘win’ by outsmarting the other?
- A car salesman going to ”talk to his manager” about your offer, when you know he’s just going to get a cup of coffee and let you sit and stew?
- A store clerk trying to convince you to buy something you don’t need, for more than you want to pay?
Do you get sweaty palms and a dry throat just thinking about negotiating with a homeowner?
I hope not! But if you do, rest easy, because it’s really not difficult, if you keep a few things in mind. Read More >>
Wholesaling Land - A Profitable Game to Explore
By Frank Iglesias on October 1, 2017
Land is a beautiful thing, regarded by many as something of value in many places. Similar to home ownership, land ownership is viewed oftentimes as a significant asset that increases in value over time, in particular in areas that are more developed or developing.
It should come as no surprise then that wholesaling land can be just as effective as flipping a house. But there is more to land than just dirt. There are three primary categories to consider:
-
Undeveloped raw land – these are lots with no utilities of any kind and has never been built on
-
Developed land – these are lots with utilities in place, may or may not have ever been built on but has been recognized by the city as at least ‘somewhat ready to go’ for construction
-
Teardowns – these are lots with a house on them that is no longer habitable or perhaps is habitable but due to property values, age of home or other variables is better suited for demolition and new construction Read More >>
Your Real Estate Foundation
By Mark Jackson on October 1, 2017
Real estate investing has always been one of the ways that the determined investor can excel to great heights regardless of one's educational, financial, or credit level.
I like to say there’s always time to do it right the first time. And in that spirit, I want to prevent you from making some of the same business mistakes I’ve made by sharing some foundational nuggets I’ve learned along the way.
The first and most paramount tool an investor can have is a solid real estate investing education. I cannot stress this point enough. Investing now is made up of so many different venues, options and techniques, you have to be prepared for any and every thing you may come across. If you aren’t prepared, that could mean leaving money on the table. I would challenge you to have at least a general idea of the different RE investing techniques. REIAComps is an avenue to help you see which areas are most profitable. This will assist you in deciding what area you enjoy and in which you work well. Read More >>
The Devil's In the Details
By Michael Vazquez on October 1, 2017
Since being involved in investment real estate I have seen an unbelievable amount of disregard to details. At first I was surprised given that purchasing a house was such a large investment. These errors and/or lies range from rehab estimates to after repair values. Sometimes the information is an error like a typo or lack of knowledge. Other times it’s the seller, usually a wholesaler, attempting to hide the truth or sugar coat a bad situation. So like a carpenter, make sure you measure twice, sometimes three times, before you cut.
A few days ago, I received an email from a wholesaler that usually mass emails marginal deals. This time the numbers were horrible. Here is an example of what the real estate numbers looked like: Read More >>
Learn Why You Don't Need Cash or Credit to Buy Houses at BIGOnline with Don DeRosa
By Chattanooga REIA on September 26, 2017Wed, September 27th on GoToWebinar.com
You Don't Need Money Or Cred To Buy Houses! September 27th
@ 7PM on GoToWebinarwith Don DeRosaNo Charge to Attend for Members or Guests
Who Attend Online via GoToWebinar.com!
Have you ever watched those tv programs that show couples flipping properties for tens of thousands of dollars and wished you could do that? Do you wish that you could find something that could provide you with additional income that would make your life better? Well guess what. Real estate might be your answer and it’s easier than you think. Most people think you have to have lots of money or good cred to buy real estate. Some people even think you have to be really smart. The truth is NONE of this is true! Don’t get me wrong, having any and all of those things are helpful but definitely not needed. In fact, most of the time I prefer to teach people with none of those things because then you can’t use them as a crutch!This month on the BIGO broadcast, I will be showing you how to make money without any of your own money or cred. All you will need is your willingness to learn and your ability to apply simple techniques. I will show you how to identify a property, put it under contract and simply assign that contract to someone else for a fee. I will also show you how to buy properties where the homeowner just deeds over the property to you and you become the owner. Can you imagine buying properties where you never have to use your cred and never have to go to the bank ever again. Would you like to buy a new home to live in but can’t afford the down payment? That's no problem, I'll show you how.
Here is some of the items you can learn from this session:
- How to find properties to flip for virtually no money out of your pocket
- How to identify what is a good deal and what is a dud
- What three tiny pieces of paper can make you $10,000 per month
- How to upgrade to the house of your dreams without needing a bank
- How to buy property after property even if you have horrid cred and no money to your name
- And Much, Much More!
If you’ve ever said these words to yourself, “ I wish I could afford that...” then you need to be on this broadcast. This could be the most important session you go to your whole life. There are two types of people out there in this world. Those that “Dream” and those that “Do.” Which do you want to be? Be on this month's broadcast on Wednesday September 27th @ 7PM ET and let me change the statement from “I wish I could afford that...” to “How can I afford that?” Let me leave you with this thought. “ If you don’t build your dream, someone will hire you to build theirs”. Is that what you want? RSVP NOW!
The Beginning Investors Group Online ( The “BIG O” or BIGO) is an ONLINE educational group for new investors who are just getting started in real estate investing as well as “new again” real estate investors who’ve taken a few years off and are looking to get back in the game. We will be bringing in local and national real estate experts to teach new investors how to survive and thrive in our ever changing economy and real estate market. The entire purpose of this group is to help new investors get their first deal and help new again investors get their next deal. The Beginning Investors Group Online meets on the 4th Wednesday of each month from 7:00 PM ET to 9:00 PM on GoToWebinar. The main presentation will start at 7:00 PM ET and go to approximately 8:30 to 9:00 PM.
TO ATTEND ONLINE: 7:00PM Start Time. To attend the Beginning Investors Group Online via your PC, smart phone or tablet, Register Here for the Broadcast on GoToWebinar.com and you will be emailed login instructions for the event.
Once you get your Webinar Confirmation Email, you can login on about 5-10 minutes prior to the 7PM start time to reserve a spot using your PC, Mac, Tablet or Smart Phone. You can download the GoToWebinar App here on iTunes App Store or the Google Play Store.
See Chattanooga REIA Events Calendar for More Events!Read More >>
Onsite Renovation Group Meets on September 27, 2017 in Chickamauga, GA
By Chattanooga REIA on September 20, 2017Wed, Sept 27th @ Noon in Chickamauga, GAThe Onsite Renovation Group
Hands-On Learning "Onsite" at Real Renovation Projects
Wed, September 27th at NOON
96 Center Dr, Chickamauga, GAChattanooga REIA Members and Guests
Can Attend at No Charge at this time.
Please join us on Wednesday, September 27th at NOON for the Chattanooga REIA Onsite Renovation Group hosted by Michael Hicks, to learn all about finding, funding, fixing, and flipping houses for big profits. This month’s meeting site will be at one of Michael Hicks’s renovation projects located at 96 Center Dr in Chickamauga, GA.
This month, Mike will show you this 3 bed 1 and half bath house built in 1960. Come see how Mike plans to transform this property into one of the most desirable in the area. Newbies and Experienced Investors are invited to come out, ask questions, get those questions answered, take notes and learn in a new way to save you from costly mistakes.
Click Here For Site Map to 96 Center Dr, Chickamauga, GA and join us for info that you can’t afford to miss.
Chattanooga REIA Members & Guests, Please RSVP on Meetup.com
The Chattanooga REIA Onsite Renovation Group is an educational and networking group that focuses on the acquisition, renovation and retail resale (fix and flip) of single family residential homes. The purpose of the group is to allow both new and experienced rehabbers and investors to meet, network and share knowledge and experience with “hands on” access to real property.The Onsite Renovation Group meets on the 4th Wednesday each month at NOON ET at an active renovation site, build site or rental property which will vary from month to month. At this time, there is no charge to attend.
See Chattanooga REIA Events Calendar for More Events!Read More >>
Learn to Pull Accurate Comps and Determine Property Values at the Beginning Investors Group
By Chattanooga REIA on September 20, 2017Wed, Sept 20th @ 6PM – Wally's Restaurant, East Ridge, TNBeginning Investor Group (BIG)What You Need To Know
About Comps
with Chuck Philips of CRS Data
on Wed, September 20th, 6PM at
Wally's Restaurant in East RidgeNO Charge For ALL Attendees at this time.
Comps. New investors here that term often and will continue to in their investing career. The questions asked are, where can you get comps, are they accurate, how do they relate to my offers, and are the comps "good"?This month, we have as our guest, Chuck Phillips of CRS Data coming to show you about comps. Chuck's business is ALL about comps which is why we chose him to speak at the Beginning Investors Group on Wednesday, September 20th at 6PM at Wally's Restaurant located at 6521 Ringgold Rd in East Ridge, TN. As our special guest, Chuck Phillips will show you and answer your questions about comps. Please RSVP and come join us!
Chuck will show you:
- What Is A Comp
- What To Look For In A Good Comp
- What To Do If There Isn't A "Good" Comp
- Why A Comp Service May Be The Right Decision To Make
- Plus, More Great Information!
Chattanooga REIA Members & Guests, Please RSVP on Meetup.comHave you been a “real estate investor” for several months or even years without doing your first deal? What is holding you back? Fear? Lack of money? Credit Problems? Lack of Focus? Are you afraid you will screw it all up?
Why make such a big deal about your first deal? Well, it’s the hardest deal you will do, but once you get through it, your belief in yourself and real estate investing will rise dramatically. You will be on your way to becoming a true real estate investor.
BIG will have experienced local and regional investors speaking and leading interactive exercises on relevant topics on a beginners level. We also have mentors attending that can take you by the hand and can walk you through that first deal. So please join us on the 3rd Wednesday of every month. Arrive around 5:30PM so you can get some delicious food at Wally's in East Ridge.
About The Beginning Investors Group (BIG) ChattanoogaThe Chattanooga REIA Beginning Investors Group (BIG) hosted by Alan McDonald, is an educational and networking special interest group for new investors who are just getting started in real estate investing as well as “new again” real estate investors who’ve taken a few years off and are looking to get back in the game. BIG is hosted by Alan McDonald, who will be bringing in local and regional real estate experts to teach new investors how to survive and thrive in our ever changing economy and real estate market. The entire purpose of this group is to help new investors get their first deal and help new again investors get their next deal!The Beginning Investors Group meets on the 3rd Wednesdays of each month from 6:00 PM to 8:15 PM at Wally's Restaurant located at 6521 Ringgold Rd, East Ridge, TN just off of I-75 at Exit 1. BIG is FREE for Chattanooga REIA Members. Guests and Not-Yet-Members will eventually pay a fee, but for now, there is no charge for anyone that attends. This is a “dinner” group and we kindly request that you buy dinner and/or drinks since Wally's allows us to meet there. There will be lots of learning and lots of networking. Bring your deals and your haves, wants and needs to the meeting for discussion.
See Chattanooga REIA Events Calendar for More Events!Read More >>
Declutter Your Keys: The Key Ring App Review
By Don DeRosa on September 10, 2017“The more I examine the issue of clutter, the more effort I put into combating it, because it really does act as a weight.” ~ Gretchen Rubin
The Key Ring app is a mobile wallet that can consolidate all your store loyalty reward cards. This is a great way to keep all your cards in one place and stay organized with lists and coupons right in the app. Instead of cluttering up your physical key chain, the app allows the user to hold all the store membership cards. So, you’re never without them! It also holds gift card information, which is great! Never lose track of a gift card again. This app has over 12 million downloads, making this one of the most practical and useful apps.
This digital wallet makes your rear facing camera a barcode scanner, just point and shoot your membership card. Just be sure to get a clear view of the barcode on the card. It will recognize all the data associated with that barcode and store it for you. To present the card in store just show your phone. The barcode for that store’s loyalty card will appear on screen that the clerk can scan at the register. Read More >>
The Power of a Refusal Option
By Bill Cook on September 10, 2017I hate being an idiot, but when you screw up like I just did, it qualifies me to be the biggest nimrod in the land!
The most powerful document in real estate investing is the option agreement. Sadly, the least used and most misunderstood document in real estate also happens to be the option agreement. Why don’t more folks know how to effectively use options to control property? Probably because there are so few investors who have experience using options.
Most folks have heard of Lease Options, but what about Purchase Options, Performance Options and First Right of Refusal Options, to name but a few? Read More >>
Yes, You Can Short Sale a Reverse Mortgage!
By Kimberlee Frank on September 10, 2017
Many students have asked me “Can you short sale a reverse mortgage?” and I had informed them that I have never done one before. However, recently I have received two seller leads who have reverse mortgages that had asked for assistance in selling their homes. A Reverse Mortgage is different from a regular mortgage that a homeowner would receive.
A Reverse Mortgage is normally used by elderly individuals who owned their home free and clear that don’t want to have a monthly mortgage payment, want their equity out of the home and want to continue living in their home until their death. Here is my understanding of a reverse mortgage. Read More >>
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