• Chattanooga Real Estate Investors Alliance
  • The Profit Newsletter
  • Chattanooga Real Estate Investors Alliance
  • Chattanooga Real Estate Investors Alliance
  • Chattanooga Real Estate Investors Alliance

The Profit December 2016

Login to Download The Profit December 2016

The Profit December 2016 Articles

How to Find Hidden Real Estate Bargains Online
By Duncan Wierman
Duncan WiermanThe internet is full of hidden bargains!  As many as 24% of the real estate market is composed of self-sellers, and you have a 10-23%  chance of finding a property well below market value depending on the seller’s intentions. Kinds of Properties There are so many different types of property, its almost like a smorgasbord. It can be a fixer-upper,  foreclosure or just motivated sellers. With a few online strategies and tools, you can tap into the hidden bargains available online. Investors who use the internet wisely can find 100s of real estate deals monthly. Use the Internet Why shy... Read More >>


Use What You Know to Grow
By Michael Vazquez
Michael VazquezIn the last article, I briefly discussed the beginning of my venture into apartment investing. I encouraged people to do some self-learning before going to networking events so you have a better idea about what is going on. While attending plenty of networking events and having a handful of meetings, I realized that you may have something the person you are looking to for advice wants to learn from you. This works out great because in all my articles I discuss the importance of win-win scenarios. Let me explain what has happened in my pursuit in learning how to invest... Read More >>


Dealing with Untruthful Sellers
By Kimberlee Frank
Kimberlee FrankWhen purchasing a property, the Sellers of the property should fill out a Seller Disclosure which tells you about the condition of the property, any repairs made since the date of purchase and any problems that they are aware of on the home.  As an Investor, there are many times I will purchase the home without receiving a Seller Disclosure, and without a home inspection other than my own personal inspection.  However, I highly recommend that Investors obtain a Seller Disclosure and have a formal home inspection even though you are replacing a lot of things inside and outside of... Read More >>


The Words We Use
By Tony Pearl
Tony PearlSTOP what you’re doing and read this. I promise that it’s worth it. You have more power in you than you know. Right now, you have the ability to change someone’s life, starting with your own. And starting now - in this moment - you’re about to learn some secrets that can produce powerful results for you. The “Big Secret” is this: The words you choose to use every day are vitally important. To you and everyone around you. Words have power. They have the power to uplift. They have the ability to motivate, to inspire, to elicit emotion. Words... Read More >>


Design for Everyone: Brainstorm with Virtual Idea Boards
By Don DeRosa
Don DeRosa“You can design and create, and build the most wonderful place in the world. But it takes people to make the dream a reality.” ~ Walt Disney When I first started, I felt like I had no business designing spaces. I’m good at the big picture but putting textures and colors together that will sell the house I was not so confident. I’ve been using Pinterest and Houzz to piece together ‘dream boards’ that you would put together using ripped out magazine pages and taping them together to compose some sort of theme or color scheme. Pinterest is known as... Read More >>


Appreciation – Wholesaler Friend or Foe?
By Frank Iglesias
Frank IglesiasOne of the things I have seen a lot lately is wholesale deals banking on appreciation.  And as a Buyer myself, I can tell you I love appreciation!  Appreciation can cover a multitude of sins. The problem is they are still sins and as a wholesaler, it is best to be aware of them if you want to move your deals!  When running comps for your Buyer, the safest route is the tried and true MLS.  Not Zillow or Trulia or some of these other online sites that can give snippits of value to the market but the good ol’... Read More >>


The Art of The Negotiation
By Kathy Kennebrook
Kathy KennebrookDespite the obviously important role information gathering plays in the art of negotiations, very few people actually spend much time analyzing their seller’s situations or needs before jumping into the negotiating process. Even logical individuals who wouldn’t jump into a dangerous sport before learning more about it often jump into a deal where they could possibly lose thousands without first getting the information they needed in order to protect themselves from a disastrous result. I always remind my students that they need to listen, ask appropriate questions, do their due diligence and determine what the seller’s real underlying needs are.... Read More >>


Working With Realtors
By Russ Hiner
Russ HinerIn my business model I need very motivated sellers. They need to be able to have a desire to sell at a reduced price and give me favorable terms. Most Realtors have been trained to only accept a cash deal (mortgage included), as there is no reason to do anything beyond this traditional method, especially if it is complicated financing that they don’t understand. So it is important to figure out how to work with a Realtor.  Here are some tips that I have found to be effective when working with Realtors: Work with a Realtor that is accessible and... Read More >>


Creating Reports in QuickBooks - Part 2
By Karen Bershad
Karen BershadLast month, we discussed QuickBooks’ report Preferences and The Report Center. We’ll look at report customization this month. QuickBooks makes your bookkeeping faster, safer, and more accurate than what you could do using a manual system. Still, you may occasionally tire of your daily tasks. You want to know what all of these forms and records mean in terms of your overall financial health. You want to see reports. The actual mechanics of creating reports in QuickBooks are fairly straightforward. You can go to the Report Center, make a selection, maybe change the date range, and voila! Your company’s related... Read More >>


Be Hard on the Problem and Soft on the Person
By Bill Cook
Bill CookAn investor who has owned four rental properties for the past three years called me for help.  He was at his wits’ end.  Because he hated dealing with tenants so much, he was seriously considering dumping all of his rentals!  By the way, this is not an uncommon feeling for new, inexperienced, and under educated landlords to have. When we met to discuss his situation, he let me hear a recording of a conversation he had had with a tenant a few days prior…and I use the word “conversation” with loosely. The tenant consistently paid his rent six to ten... Read More >>


Insuring Properties in Real Estate IRAs
By Jim Hitt
Jim HittLike all Americans, we were deeply saddened and distressed by the recent widespread flooding here in North Carolina and elsewhere in the Southeast. We know that beyond the property and investment losses, many people lost their homes, property and heirlooms that no insurance policy can replace.  But torrential rains and flooding is an ever-present risk here in the southeast, America’s Hot Corner when it comes to hurricane and tropical storm activity and a place that certainly gets its share of ordinary thunderstorm and tornado activity as well, even apart from the tropical cyclone risk. But according to industry sources, less... Read More >>


Good Financing Is Your Key to Creating Wealth
By Larry Harbolt
Larry HarboltMany years ago one of my mentors told me that you can have a perfect property, (if there is such a thing), and turn it into the most horrible property with bad financing. Getting good financing is the secret to creating wealth from real estate. Let me give you an example. Today I am seeing all too many inexperienced investors talk about using OPM, (other people’s money). Using other people’s money can be a good strategy in certain circumstances, but not in every situation you find. For instance, using hard money loans will only work on short turn around properties,... Read More >>


Real Estate Foreclosures and The Potential They Offer
By Mark Jackson
Mark JacksonThe chance to create new investments and take advantage of the real estate foreclosures in the market should be taken.  These are one of the most dependable long term investments you can make.  Buying properties after foreclosure using REIA comps is a method you can use to ensure you are given the best price for each and every property you review. Buying real estate foreclosures is one of the main sources of income for many real estate investors. For starters, foreclosed properties have a high re-sale value that is guaranteed to earn you tremendous profits in the long run. Especially... Read More >>