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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 >>
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 >>
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 >>
No 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:
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.Read More >>
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.
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.Read More >>
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:
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 >>
“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 >>
I 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 >>
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 >>
Real estate held within a real estate IRA is no different than real estate held elsewhere. Most of the same general principles that are applicable to any other real estate investment apply to real estate IRA properties, including contractor selection and hiring. This piece will deal primarily with the specific issues that apply to real estate IRAs (as well as real estate investments held within self-directed 401(k)s, SEPs, SIMPLE IRAs and other tax-advantaged accounts).
Observe prohibited transaction rules. When you own a real estate IRA, there are certain restrictions on whom you can bring on as a contractor to help fix, repair or renovate your real estate IRA properties. First of all, you cannot hire yourself. You cannot work for direct compensation or salary in any capacity in your real estate IRA. The IRS enforces very strict laws that prohibit you from using your real estate IRA to transact directly with yourself, your spouse, your children, grandchildren, parents or grandparents or those of your spouse, as well as any advisor who works with you on your real estate IRA in a fiduciary capacity. The same goes for any corporation or other business entity they control. Read More >>
I firmly believe that learning how to manage your rental properties as a Real Estate Investor is instrumental to the success and profitability of your income properties and your sanity, especially in today’s market where so many investors are buying and holding property.
As a Real Estate Investor, you don’t have to hire a property management company to manage your rentals unless you really want to. You can manage them yourself easily if you set down some specific rules for your tenants and your business. Once you reach a number of rentals where it becomes a lot more work than you want to deal with, then you may want to hire a property management service. But if you own fewer than 30 rental properties for example (I’m talking about single family homes or duplexes) you can definitely handle the management yourself by simply following a few rules. Read More >>
Over the past few weeks I have had several conversations with investors who say they can never get any seller to give them seller financing terms. This just doesn't make sense to me. I have in the past, and still do have success getting seller financing terms on many of the properties I buy. After having these conversations and several days to think about what the investors said to me and why they are having absolutely no success getting the sellers to give them any type of seller financing terms is why I decided to write this article.
One of the investors I talked with told me he is buying as many as 35 houses every month, paying cash for them. This investor has already put together a group of private lenders who provides him with all of the money he needs to buy his properties. For him and all others who have private lenders providing them with the cash they need in my opinion have a wonderful thing going for them and I wish them much success. This article isn't for those who already have all the money they need to do their deals. This article is for the majority of investors I meet who have little or no money or they don't have private lenders who are willing to fund their deals. Read More >>
Tracking even the little expenses is important.
How does most of the money you owe individuals and companies get disbursed? Do you print checks, or write them by hand? Use credit cards? Pay online through your bank’s website?
Keeping track of your outgoing funds can be challenging, since there are so many ways to complete those transactions. But it’s important that all expenses are recorded correctly and consistently, to keep your company file accurate. In addition, so many of your expenses are tax- deductible. You don’t want to miss any of them. Read More >>
As most people know hurricane/ tropical storm Harvey has left a path of destruction in Texas and Louisiana. Now, only two weeks later, hurricane Irma is projected to hit Florida. These disasters do not come around as often as a foreclosure, fire, broken pipes, job loss, deaths or a number of other things but all these are life changing events in people’s lives. Keep this in mind when making an offer on their home.
The easiest way to make a profit in real estate, much like most things, is to buy low and sell high. If you are sourcing your own deals and speaking directly to these sellers you need to fully explain the reason behind your offer. Read More >>
In February 2017, I wrote about beginner’s rules and the first presentation a person could do when looking to raise capital. I talked about the mistakes that I made early on. I just changed the names to protect the innocent, me.
I want you to think about being able to raise private money from local sources, business people, retirees, and people who have money sitting in banks or accounts that are barely earning them a .01% rate of return. If you are one of those people then we need to talk.
So, picture yourself walking up to people and building a relationship. Is this scary? Is this awkward? Is this a cake walk? Read More >>
Many business owners try their hand at various business deals before stepping into their sweet spot. Real estate investing is the avenue that many people have used to make their mark in the business world. Ready to dive into the real estate market by investing in a rental property? The opportunities are ripe, but I certainly don’t want you to make any mistakes so follow these tips and you'll be on your way to securing a successful deal.
First, the only numbers you should trust are yours. Use REIAComps to do your due diligence which should involve determining the best purchase price and After Repair Value (ARV), along with potential expenses, maintenance fees, and any other costs associated with a given property. Double check any information provided by the broker or seller. One of the easier avenues to check is REIAComps. Confirm all of your numbers so you know exactly what kind of expenses to factor into the deal. Read More >>
In this article, we’re going to be discussing one of the essential skills you must possess if you’re going to be successful in this real estate (or any other) business. When you master this skill, you’ll be MUCH more efficient with your time, reduce frustration & anxiety, and keep your self-respect and motivation. Sound good?
Of Course, I’m Talking About How To Properly Pre-screen People.
We all know that the first thing we need in any business is LEADS - people who have raised their hands to signal that they’re interested in either our product or service...or are at least interested in getting more information about it. In real estate, this could simply be a list of people who either want to sell their house or buy a house. Read More >>
In this article, I will go over a life-threatening thinking disease most of us have (but are unaware), a way to cure that disease, and immediate actions you can take to cultivate happiness.
For the majority of my life I was plagued with a disease. This disease was the root of much pain and regret, along with endless rumination and misery. I was pursuing a career as a musician and was fixated on the material wealth, vanity, and approval of others. Deep down inside I was truly empty.
I was never happy with any and all aspects of myself and my life, as a result of this self-hatred I criticized myself, family and friends, pushed everyone away, and sabotaged anything good in my life. What masked the underlying issues was a pattern of nit picking everything to avoid taking a good look at myself and the baggage I was holding onto. What troubled me most was that I had the most beautiful life and an abundance of happiness right in front of me, but I was plagued with NGE. Read More >>
Did you know that every month, within 5 miles of your home, there’s a $15,000 net-profit deal waiting to be had? The hard part is finding it, and then knowing how to creatively structure it into a big-profit deal. There won’t be a large sign in the yard that reads: Stop Here – $15,000 Deal Inside! A common mistake made by many would-be real estate investors is to run a We Buy Houses ad, then sit back and wait for the phone to ring. A truth: The phone rarely rings! Because of this, most new investors go out of business long before they find their first deal!
To succeed at real estate investing, you must get face-to-face with sellers on a regular basis. The fastest, cheapest and most effective way to accomplish this all-important task is to simply knock on sellers’ doors and ask why they’re selling.
In addition to door-knocking, you must continually learn creative deal structuring techniques from experienced real estate investors. The best creative deal structurer I know is Pete Fortunato. With nearly 50 years of deal-making experience under his belt, he’s the master! By the way, Pete and I are doing a Saturday Workshop in Atlanta later this month, but first,
to learn how to make impossible deals possible, do what we do: hang out with been-there-and-done-that investors. They know stuff! You will find these been-there-done-that experienced investors at your local REIA functions. We have several of them coming up in September! REIA on the Lake on September 7th, later that day, the Chattanooga REIA Monthly Main Event, and Saturday, September 9th, our Doorknocking Tour! In addition, we will tell you about more events coming up for Chattanooga REIA in September.
On Thursday, September 7th at 6:30PM at the Hilton Garden Inn located at 2343 Shallowford Village Drive, Chattanooga, TN, I will show you How to Make the Impossible Deals Possible and show you the easiest, fastest way to get in front of sellers. Members and guests can join us for dinner at the Garden Grill in hotel at 5:30 PM.
Before the evening is over, you WILL KNOW:
As you can see this will be a knowledge packed evening full of excitement and education. RSVP for Any or ALL these events if you want to Supercharge your Real Estate Investing!
Join us on Thursday, September 7th 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.Read More >>
Meet at McDonald’s at 5440 TN Hwy 153,
Chattanooga, TN at 8AM for Breakfast and Briefing. Registration & Sign-in at 8:30AM
Do you want to SEE and EXPERIENCE the fastest, cheapest, most effective way to get face-to-face with motivated sellers?
If so, then please join me, Bill Cook, for a day full of door knocking with real sellers on Saturday, September 9th from 8:30AM – 4PM. We’ll meet at McDonald’s located at 5440 TN Hwy 153 in Chattanooga, TN near Northgate Mall at 8AM if you want to have breakfast with us at your own expense. Registration and sign-in begins at 8:30AM. The event starts at 9AM. We will then spend the day out talking to sellers and constructing win-win deals at their kitchen tables.
What’s the fastest, cheapest, most effective way to get face-to-face with motivated sellers? When you see a For Sale sign in a seller’s yard, get out of your car and knock on the seller’s door. It’s as simple as that!
On Saturday, September 9th, Bill Cook will take a select group of real estate investors from Chattanooga into local neighborhoods and show them:
This isn’t classroom theory stuff. It’s a 100% real-world experience!
Most real estate investing teachers can talk-the-talk, but how many have you watched walk-the-walk? This will be a one-of-a-kind event. No other investing teacher does what Bill does!
Bill and his wife Kim built their real estate investing business square on the back of knocking on sellers’ doors. They’ve been doing this for more than 20 years!
The 12 Most Important Things You’ll SEE Door-knocking with Bill on September 9th:
Which homes should you go to?
How and where should you stand when at the seller’s door?
What should you carry with you?
What do you say when the seller answers the door?
What do you do if no one is home?
Why will 8 out of 10 sellers invite you in?
What are the best types of neighborhoods to work?
What do you do after the seller invites you in?
How do you get to the seller’s kitchen table and why it’s THE place to be?
What are the MOST important questions to ask a seller?
How do you construct a win-win offer?
What do you do if the house is vacant or bank owned?
Will you learn something new? You bet! Will you see things you’ve never seen before? Positively! Will you be able to take what you’ve learned and put it to use the next day? Absolutely!
Bill and Kim have tons of experience at creatively constructing and funding win-win deals. Their investing portfolio is made up of single-family rental homes, mobile homes, a small mobile home park, plus notes and options.
Contact us now if you want to go out and watch Bill talk to homeowners and sellers, learn how he gets 8 out of 10 sellers to invite him in, and how he makes written offers right there on the spot!
We promise that you’ll see things you’ve never seen before – or will ever see again!
Here’s a ratio for you: If I talk to 10 sellers at the door, 8 will invite me in – EIGHT! Are you getting this kind of result from your bandit signs or website? A question for you: To be a successful real estate investor, do you need to meet with more sellers or less sellers?
While real estate investing is simple, it’s anything but easy. To be successful, the MOST important thing you must do is get face-to-face with sellers on a regular basis. Nothing takes the place of this. NOTHING! It’s the alpha and omega of real estate investing!
Your next question is probably: “Bill, what qualifies you to teach folks how to door knock and meet with sellers?” Beginning in 1978, I put myself through college selling Electrolux vacuums door-to-door. In 1995, I switched from Electrolux and became a full-time real estate investor. No one else in the country has this amount of experience at homeowners’ doors.
You are either serious about real estate investing or you’re not. If working 40 hours a week for the man isn’t your idea of financial freedom, if you’re a round peg who is being forced to fit in into a square hole, then come spend the day with me. It will be time well spent. And at the end of the day, if you feel that it wasn’t, I’ll gladly refund your hard-earned money with no questions asked.
I'm Looking forward to having you join me. Remember, I LOVE questions! RSVP NOW! I will see you there!Read More >>