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The Profit October 2017

The Profit October 2017 - The Official Newsletter of Chattanooga REIA
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The Profit October 2017 Articles

7 Strategies to Increase ROI on Keeper Properties by Reducing Vacancy
By Robyn Thompson
Robyn ThompsonHere 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... Read More >>


Why Improve Your Raising Capital Presentation Skills?
By Russ Hiner
Russ HinerI 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... Read More >>


Rehabbing Your Way To Millions
By Kathy Kennebrook
Kathy KennebrookIn 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... Read More >>


Real Estate IRAs - Special Considerations for Vacant Properties
By Jim Hitt
Jim HittWe 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:  Vacant properties are susceptible to vandalism They are attractive nuisances... Read More >>


Why Can't You Get Sellers to Give You Seller Financing Terms? - Part 2
By Larry Harbolt
Larry HarboltLast 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... Read More >>


Never Take Orders From Paint
By Bill Cook
Bill CookThe 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... Read More >>


What Sales Orders Are and When to Use Them
By Karen Bershad
Karen BershadThey’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... Read More >>


Irmageddon
By Jonathan Henrich
Jonathan HenrichI 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... Read More >>


Can Playing "Monopoly" Help Your Real Estate Investing Business?
By Don DeRosa
Don DeRosa"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... Read More >>


Wholesaling Land - A Profitable Game to Explore
By Frank Iglesias
Frank IglesiasLand 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... Read More >>


Your Real Estate Foundation
By Mark Jackson
Mark JacksonReal 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... Read More >>


The Devil's In the Details
By Michael Vazquez
Michael VazquezSince 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... Read More >>