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The Profit January 2017

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The Profit January 2017 Articles

Stay the Course
By Bill Cook
Bill CookHow do you succeed as a real estate investor?  How do you succeed as a person?  Simple: Stay the course! But what course?  Whose course?  Heck, how do you know if you’re even on the right course? Your course begins with an idea – YOUR idea!  What feels right to you?  Answer this question: What were you put on earth to do?  Ever thought about this?  I mean, after all, you’re here for a reason, right?  What’s that reason? For eighteen years, I sold Electrolux vacuums door-to-door.  It paid me a lot of money.  Only one problem: I wasn’t put... Read More >>


“I Can Tell By The TONE of Your VOICE!” Aka Ninja Influence
By Tony Pearl
Tony PearlLast month, we talked about the words we use and how powerful they are. This month, we’re going to take it to the next level. So there’s a famous study that was done a while ago by Dr. Albert Mehrabian, that showed that only 7% of our communication is conveyed through words, 38% is from our vocal tonality, and the rest (55%) is through ‘nonverbal elements,’ such as your posture, gestures, and facial expressions. Based on what I wrote in my last article, I believe that our words represent a lot more than only 7%, but that’s not what this... Read More >>


Making Foreclosures Your Choice
By Mark Jackson
Mark JacksonWhen looking for an investment opportunity it is always worth considering buying foreclosure properties. You should absolutely take the time to explore all avenues to make this the most profitable. The best thing you can do for yourself is learn about ways to purchase a home any party lost. As they say, “their loss could be your gain”.  REIA Comps can help you navigate the twists and turns of the buying process.  Unfortunately, homeowners being foreclosed on know that once the bank forecloses, their house with be up for auction. At that point, the property will be sold to the... Read More >>


The Atlanta Real Estate Market Stats Reflects That It Is A Seller’s Market
By Deborah Harris
Deborah HarrisAtlanta continues to be one of the hottest real estate markets to rebound since the recession continuing through third quarter 2016.  But, before we analyze the numbers, sellers must realize the following: Price and condition account for 80% of buyer interest and acceptance for any property. What needs to be done to present your house in the best possible way? Nobody can dictate at what price your house will sell. The market will determine the price that buyers are willing to pay. When you price your house too low, the market will raise the price due to multiple offers over... Read More >>


Why Should You Develop a Marketing Strategy In 2017?
By Kathy Kennebrook
Kathy KennebrookWe all know that developing an effective marketing strategy is essential to getting any business off the ground. Educating yourself and discovering how to locate and motivate potential sellers to contact you is a must in making your real estate business a success. You must be able to locate prospects who want to do business with you. You must find the sellers who need to sell, not just want to sell their properties. This is essential to your success as a real estate investor. Coming into the new year this will an important step to growing your real estate investing... Read More >>


Would You Close on Your Own Deal?
By Frank Iglesias
Frank IglesiasAs we get ready to start the new year, I would like to start with a basic question…would you close on your own deal? I am an investor who loves wholesaling so I ask this question with sincerity.  Would you close on your own deal that you send to your Buyers?  Seriously, assuming you had the money in cash, would you? If you  have to think about the answer, then is it really a deal you should be sending out to your Buyers?  Of course one can say ‘well it is not an area I invest in but others do’... Read More >>


What Is The Best Way to Buy Investment Real Estate?
By Larry Harbolt
Larry HarboltOver the past few days I’ve been thinking about the different ways real estate investors can achieve their goals and dreams in the fastest way possible. I get asked this question frequently by students who are just getting started in the real estate investing business. As I thought about the different strategies of how real estate goals can be achieved, I came up with the three most common ways most investors use today. First of all wholesaling is what I hear about the most. The problem as I see it with wholesaling is two-fold. First, wholesaling real estate is to... Read More >>


Have We Reached the Top of the Market?
By Russ Hiner
Russ HinerOn the Front Page of The Wall Street Journal on Wednesday Nov. 30, it stated “Home Prices Hit record levels”. If you read this article, you will think it is over, the window of the “massive profits in real estate” opportunity has slammed shut. If you did not buy any property since the great recession, you have missed the boat. In your old age when you go into the smelly retirement home, that your Social Security or what’s left of it will pay, you will remember this lost opportunity of buying real estate in the 2012-2016. Yes, it is true... Read More >>


Self-Directed IRAs and Real Estate Notes
By Jim Hitt
Jim HittExpected returns are hard to come by. Stocks are at elevated P/Es on a historical basis, and yields are near all time lows. With economic growth sluggish, at 2-3 percent per year, any major gains will have to come from multiple expansion – and who can count on that? Earnings multiples can fall as easily as rise. This is what caused many of us to gravitate to self-directed IRA strategies in the first place! Bonds aren’t much better, in the publicly traded market. There’s some downside protection, in theory. Fortunately, electing to use self-directed IRA strategies allows you to transcend... Read More >>


Knowing the After Repaired Value on Your Flip House
By Kimberlee Frank
Kimberlee FrankAs an Investor, having a Realtor to work with is important in your business if you are buying or selling houses on the Multiple Listing Services.   Many new Investors rely on their Realtor to send them “good deals” to buy, hold, fix and/or flip.  However, a Realtor does not know what good deal means to an Investor.  A good deal for us could be the cash flow that you receive on a rental property or it could be the profit that you would receive from reselling the home.  As Investors, you are taught a MAO “Maximum Allowable Offer” Formula in... Read More >>


Paying Bills in QuickBooks Online
By Karen Bershad
Karen BershadIn a previous column, we talked about setting up bills in QuickBooks Online. Now it’s time to pay them. We recently laid out the benefits of using QuickBooks Online for bill entry and payment. It’s faster than manual methods. It leaves an electronic record of your accounts payable. And it helps ensure that bills are paid accurately and on time. As we discussed, QuickBooks Online employs a two-step process for bill payment. Once you’ve completed the first (setup), the hard part is done, and you can move on to fulfilling your financial obligations. Let’s take a look. Warning: Because you... Read More >>


Hi Alexa: A Comprehensive Review of Amazon Echo
By Don DeRosa
Don DeRosa“I live a highly scheduled life. There's absolutely no time wasted. I'm very focused. And I have a great assistant.” ~ Madonna Amazon Echo has been a game changer at my house. I find it a great selling point for new homes I’m working on as well. I use “Alexa” to turn on my lights, my television, set the thermostat and basically anything that’s connected to the system. It’s been really helpful around the holidays too, baking with the family has been a breeze while “Alexa” sets up the timer and converts measurements for us. I’ve talked about other systems,... Read More >>


Know Your Guru
By Michael Vazquez
Michael VazquezWith the internet, fake news and social media anyone can create a persona and/or a story and have people believing it is true. With a great marketing plan, a website, paid likes, paid followers, a cheap book on Amazon written through research as a top seller and some know how you can be the next real estate guru. And who knows, maybe you end up knowing more IN THEORY than actual successful investors but it would only be in theory. Therefore, you should be cautious of who you are giving your money to and more importantly who you are learning... Read More >>