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The Profit September 2015

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The Profit September 2015 Articles

Why Most Real Estate Investors Will Lose Most of Their Properties!
By George Antone
George AntoneConsider this… You find a good piece of income producing real estate that you decide to buy. You have little money to buy it, but you decide to use whatever money you have as part of your down payment. You get qualified for a 90% LTV loan. You call around and you are able to raise the remaining money from your close friends and family for the remaining down payment. You promise to pay them a generous interest rate of 8% for lending you their hard-earned money. The following month, you find another good real estate property that you decide... Read More >>


My Top 10 Landlording Lessons
By Bill Cook
Bill CookKim and I have been managing rental property and tenants since 1997. We still own the very first single-family investment property we bought way back then! Between then and now, we’ve made every landlording mistake in the book. We’ve bought bad rental properties, rented to awful tenants, and let tenants get three or four months behind in rent. Here’s the important thing to remember: With every mistake we made, we learned what not to do. And with everything we did right, we learned what to keep doing. That said, here are the top 10 landlording lessons I’ve learned over the... Read More >>


Does Your "Investment Personality" Line Up With Real Estate IRAs?
By Jim Hitt
Jim Hitt“Investment personality?” you might ask. “What’s an investment personality? I want to make more money than I have. That’s my investment personality.” Okay, we’ll admit it: the idea of an ‘investment personality’ might not seem to have a lot of merit at first—until you realize that you do have a set of clear priorities and preferences based on your experiences. To one person, Real Estate IRAs—for example—might fit perfectly in line with their investment personality. For someone else, a Self-Directed IRA of a different sort might be more appropriate. The question becomes: what exactly is your investment personality, and how... Read More >>


Recission Is Stopping Foreclosures All Across The Country
By Bob Massey
Bob MasseyLast month it was in California, this month it was in South Carolina. All across the country we are seeing rescission letters stopping foreclosures in their tracks. Over the last few months I have been writing about how effective a Truth in Lending Act (TILA) rescission of your mortgage could be, and how the banks are getting nervous. Well, the results keep coming in, and they are extremely encouraging! One of my real estate investor students recently explained to his father how he might be able to use rescission to stop the foreclosure on his home. His father sent in... Read More >>


Got Needles In Your Haystack? Search Like An Expert
By Don DeRosa
Don DeRosa“With Google I'm starting to burn out on knowing the answer to everything. People in the year 2020 are going to be nostalgic for the sensation of feeling clueless.”~ Douglas Coupland Go to your computer right now and Google “real estate.” Go ahead, I dare you. Care to guess how many results you’ll get? Well, I just tried it, and I got 1.1 billion results. That’s billion with a b. Talk about information overload! You’re pretty sophisticated, though, so you know not to try that kind of a mushy search. And you already know that you can search specifically for... Read More >>


How To Use Promotional Items And Event Sponsorships To Locate Even More Motivated Sellers
By Kathy Kennebrook
Kathy KennebrookThere are many creative ways to find motivated sellers and promote your business. One of the great ways to get positive exposure for your business and give back to your community is to sponsor events or teams. There are lots of great ways to do this. You can sponsor sports teams such as soccer, softball, bowling or track. You can also participate in a local golf tournament for charity. One of the ways to do this is to provide uniforms or shirts which of course have your company information on them. Walk-a-thons are another great way to achieve this goal.... Read More >>


Handling Title Issues - Communication Is Key
By Frank Iglesias
Frank IglesiasIf you have done wholesaling for even just a handful of months, you have undoubtedly come across that property that was going to be an easy deal, a sweet deal, a killer deal only to have it stall and possibly unravel because of a title issue. Obtaining clear and marketable title is a key item that rarely gets focus in courses I come across. It is usually a ‘the attorneys will take care of it’ issue. This is 100% true except that it is still YOUR deal first and as long as it is your deal, you must remain in... Read More >>


Mentorship Tips
By Bill Ham
Bill HamIn this article I am going to take a different approach as to the format. This time I am going to give you a list of tips for finding and working with real estate Coaches and Mentors. A good education is paramount to building any successful business. Good mentors are the foundation of a good education. Here are some things to keep in mind. It’s not only ok but GOOD to pay for an education. Your education is the first of your investments. It’s also the most valuable. A good teacher is not free. I have spent about $75,000 on... Read More >>


How QuickBooks Helps You Accelerate Receivables
By Karen Bershad
Karen BershadGetting paid by your tenants in a timely fashion is one of the biggest challenges of being a landlord. QuickBooks can help in several ways. You're meeting your business goals. Making sure that every property that has a tenant has been invoiced in QuickBooks. (You invoice in QuickBooks so you can track the timely payments made by the tenants.) You take advantage of vendor discounts. Basically, doing everything in your power to keep cash flow humming. But you can't control how quickly your tenants pay you. You can, though, use QuickBooks' tools to: Make it easier for tenants to remit... Read More >>


Lender Denies Short Sale But Still Gets Paid
By Kimberlee Frank
Kimberlee FrankNegotiating is a vital part of your business when it comes to cashing in big on short sales. It is always important to know who the investor is on the loan, and I’m not referring to who is servicing the loan and collecting the Sellers payments. There is an investor behind the scenes. Also, find out the type of loan, ie: private, conventional, FHA, Fannie Mae or Freddie Mac and whether there is private mortgage insurance (PMI) or mortgage insurance (MI) on the loan. Knowing all these facts allow you to negotiate based on the percent of value each one... Read More >>


The Decision
By Ron LeGrand
Ron LeGrandIt was March 12th, 1982, when I had a decision to make, and it didn't seem like a very big one. You see, there was a seminar coming to town called “How to Buy Real Estate with No Money Down,” and it caught my attention because I certainly had none and didn’t want to continue doing what I had been doing for most of my life. I believe I saw the commercial on television, and after about the third time it aired I got to thinking about it and said, “Well, gosh, what have I got to lose. I know... Read More >>


Different Ways To Generate Substantial Income For Your Portfolio With Assets Other Than Real Estate – Part One
By Larry Harbolt
Larry HarboltRecently I was having a discussion with a friend of mine discussing some of the different ways to create wealth not only from real estate but other forms of investing that can give huge returns. We talked about the usual ways of making money buying real estate and we also talked about other ways of creating income without having to do any physical work for the money. Of course when you are a real estate investor your first thought is usually either about, buying foreclosure properties, wholesaling properties, fixing and selling houses at retail prices, and also buying long term... Read More >>


Are You Accountable?
By Russ Hiner
Russ HinerHave you been in real estate for 6 months, or have you really been in real estate for 1 month? Because if you’re really in real estate, you’ve made a deal by now, maybe several. Here’s the truth: If you’re not making offers, if you’re not making deals, you’re not in real estate…yet. Are you making the mistake of preparing and then doing nothing? Listen, if you’re prepared, then you have the education. You’ve paid a lot of money to take courses, you’ve read the books, and you’ve watched the videos. You understand that buying real estate is not rocket... Read More >>


Is It A Rental Or Flip?
By Mark Jackson
Mark JacksonOver the years investors have always wanted to know which way they should go. Buy a house cheap, fix it up and rent it out. Over time collect the cash flow, keep some and use a portion to pay the house off. It’s the oldest and truest way to build wealth and a secure retirement. Then there are those who are seriously focused on making some money now. They either want to “Wholesale” a house doing nothing to it all or the alternative option may be to acquire, renovate and sell for a really good profit and do it again.... Read More >>


Winning The Fight Against Time
By Tony Pearl
Tony PearlIf you are blessed and fortunate enough to have lived on this planet for a while, there eventually comes a time when you start to notice the same thing that countless ancestors of ours have noticed over the eons... The undeniable fact that, sorry! You're getting old. The first signs of this sad truth probably reveal themselves to you in a very subtle fashion... An extra ache when you wake up in the morning; Recuperating from injuries takes longer than it used to; Or it could be a grey hair or an extra wrinkle in your smile. As my (older)... Read More >>


Ready for Change?
By Michael Vazquez
Michael VazquezAs a real estate investor you must always adjust to new market trends, rules and regulations. Recently, as any good investor should know, the industry has been having to make some changes due to the TILA-RESPA Integrated Disclosure rule. These changes have and will continue to affect any person closing a property involving an owner occupant loan. Investors that renovate properties to sell will need to add at least an extra month or two of carrying costs. Why? Well, while not going into too much detail, all HUDs will need to be approved by the buyer and underwriter at least... Read More >>