Category Archive: North Georgia REIA Meetings

About March’s North Georgia REIA Meeting

WHAT IS MARCH’S MEETING ABOUT?

With inventory as low as it is, we firmly believe Mobile Homes are one of the most underused and untapped resources in real estate today.

You may have heard of a Lonnie Deal. It’s when you buy a mobile home in a trailer park for $2000 cash, then sell it with terms for $7000. The buyer’s down payment will help you recoup a chunk of your purchase price. Best of all, you’ll get monthly payments of $300 for three years. That’s a yearly yield of 240% – making this a HOT STEAMING DEAL!

What makes Lonnie Deals even better is, after a year or two, you often get the home back because something happens to the BUYER, and he needs to move elsewhere. You then repeat the deal again. That’s an annuity, Baby! And because it paid for itself in the first year, your yearly yield literally becomes infinite!

But we are not stopping at Lonnie Deals. We’re also going to discuss how the lack of mortgage availability for Mobile Homes has created a niche for Cash Buyers. You can pick up Land Home Deals (a mobile home on land) for $8,000 to $20,000. These puppies cash flow for as much – or more – than a single-family home!

Also at March’s meeting:

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WHAT IS FEBRUARY’S MEETING ABOUT?

A Subject-to Deal, whether you’re doing a flip or keeping the property as a long-term hold, is an incredibly creative way to fund your next real estate investing deal.

So what, exactly, is a Subject-to Deal? Usually, when you buy a property, at the closing table, the property’s title transfers to you and the seller’s mortgage is paid off. With a Subject-to Deal, the title still transfers to you, BUT the seller’s mortgage remains in place and you agree to make the SELLER’S mortgage payments on the SELLER’S mortgage for the SELLER!

Is this the same thing as a loan assumption? Nope! With a loan assumption, the seller’s mortgage transfers into YOUR name. With a Subject-to Deal, the mortgage remains in the SELLER’S name!

Subject-to Deals must be illegal, right? Nope! Look on any HUD-1, lines 203 and 503. What does it say? It says: Existing loan(s) taken subject-to. Did you know that for decades, on every HUD-1, there’s been a pre-printed line for Subject-to Deals?

If you’ve not done a Subject-to Deal, you’re probably saying, “No seller would EVER agree to it!” Are you sure about that? Are you willing to bet the ranch on that? Truth is, Kim and I have been doing Subject-to Deals since 1998 – our ranch is a Subject-to Deal!

At February’s meeting, we’ll show you WHAT a Subject-to Deal is, HOW it works, the RISKS and REWARDS, and most importantly of all, WHY a seller would agree to do a Subject-to Deal! We’ll do this by using real-world examples of deals that we, and a number of other investors, have done.

North Georgia REIA is passionate about your financial freedom. We want you to live your…

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January 8th North Georgia REIA Meeting Info

Nothing can drive a real estate investor to the poor house faster than a rehab gone bad…and talk about losing one’s cherub-like demeanor!!!

I know two investors who partnered on a deal in June 2014. They bought the property for $25,000. They estimated the rehab would cost between $25,000 and $50,000, and take about six weeks to complete. That rehab is still going on – 6 months later! Oh, and the rehab expense now sits at a whopping $85,000! Here’s the really sad part: The investors are related – their strife caused the family to cancel Thanksgiving AND Christmas! All because of a rehab gone terribly bad!

Think this can’t happen to you? Think again! A rehab can go south in the blink of an eye! Your rehab is going along just fine – on time and on budget. Then suddenly you find yourself chin deep in a pit of quicksand – and sinking fast! It’s a terrible feeling…but it can be avoided!

Due diligence – before you buy a property – is what keeps your deal safe! Constant tracking and follow-up during the rehab keeps you out of the proverbial quicksand.

A good example of a lack of due diligence is the above deal. When I asked the investors about their estimated cost of rehab, they said, “Between $25,000 and $50,000.” That’s a $25,000 swing! There’s no such thing as a $25,000 swing when estimating a rehab. You’ve got to know your…

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What is the December 11 Meeting About?

At December’s meeting, we’ll discuss two topics. The first is an incredible deal structure called a 121 Deal. This is a simple way to structure your next deal so that you’re able to earn up to $500,000 TAX FREE every two years! This is about to become the primary way Kim and I structure our primary-residence deals!

Next, we’ll look at notes. Few people read a note before signing it. For those who do, most don’t understand what they just read – and yet they still signed!

Notes are an incredible deal-structuring tool that allows you to make the impossible deals not only possible, but also very profitable!

Here are two examples of creative deals we’ve done using notes – one buying, the other selling a property.

In 2012, we wanted to buy a 4/2 brick ranch to keep as a rental. The seller wanted $85,000. We didn’t have $85,000. The seller agreed to accept our $83,000 note (we gave him $2,000 down), with 360 monthly payments of $417 at 4.43% fixed interest. We picked up a great rental with payments we could afford, and the seller got…

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What is November’s Meeting About?

What is the best way to build real estate investing experience while making fast, nearly-risk-free cash? Easy answer: By bird-dogging and wholesaling properties. If you’re a seasoned pro, what is the easiest way to keep your hand in the game without doing any heavy lifting? Same answer: By bird-dogging and wholesaling properties.

Example: This past August, Kim and I bought a house in Woodstock for $91,000. We wholesaled it 25 days later for $123,000. Our net profit on this wholesale deal was more than $25,000!

Two months before that, we bird-dogged another Woodstock property to an investor. This little transaction netted us a bit over $13,000 in less than 30 days.

Folks, that’s nearly $40,000 in net earnings from just two deals in three months! One was a bird-dog deal, the other a wholesale deal. Are you getting these kinds of results from your real estate investing efforts? Are you interested in learning how…

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2015 Captain’s of the Deal Cabin Block Ends Nov 4!!!

Time is running out and so are the cabins! Our cabin block for the 3rd annual Captains of the Deal 7-day Caribbeanreal estate investor cruise ends on November 4! This means that if you’re not yet signed up, you may not be able to get a cabin at our special, special rate. Don’t let this happen to you!

The 2015 Captains of the Deal cruise will be the BEST ever! Pete Fortunato is joining us again! Our discussion topic will be Creative Cash Flows! We’ll be departing from Port Canaveral, Florida. Our ports of call will be the Bahamas, St. Thomas and St. Maarten. We depart on March 8, 2015 and return seven days later all tanned, beautiful and knowledge-filled on March 15, 2015.

For full information, please visit CaptainsoftheDeal.com!

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WHAT IS OCTOBER’S MEETING ABOUT?

October’s meeting is gonna be incredible – especially for landlords! Our speaker will be David Tilney. David is an incredible teacher…a real been-there-and-done-that landlording guy. He teaches like no one else. His ideas are unique. David will help you look at landlording and tenants a whole new way!

As a landlord, do you ever stop and ask yourself, “Why do I manage my tenants the way I do?” Most of us can’t explain – we just do the things we do…because. But because why? This is the question David will be discussing.

Here are some of the “WHY” questions to consider:

Why is the rent due on the 1st?
Why do landlords usually sign a one-year lease?
Why don’t landlords like pets?
Why do landlords clean rentals and make improvements between tenants?
Why are landlords afraid to raise rents?
Why do landlords evict?
Why do landlords do property inspections?
Why do landlords schedule property showings?
Why do landlords take security deposits?
Why does the government allow landlords to depreciate rental property?
Why do landlords burnout?

You may think you know the answers to these questions…but are you sure? Like I said, David Tilney is an incredibly unique landlording teacher and thinker. I promise, a lot of his ideas will stretch your mind!

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September’s Meeting Info

WHAT IS SEPTEMBER’S MEETING ABOUT?

A contractor’s most important tool is a hammer. For a pilot, it’s an airplane. So what’s a real estate investor’s most important tool?

Here’s another question: You meet with a very motivated seller who agrees to owner finance her property to you. The property is free-and-clear and is worth $125,000. It doesn’t need any work. It will rent for $950 per month. Monthly expenses (taxes, insurance, repairs, vacancies, management) average 35% of the monthly rent. To do the deal, you must net at least $200 per month. What’s the most you can pay the seller each month and still make this deal work? If the seller agrees to a nothing-down, thirty-year-fixed-rate mortgage, what interest rate are you giving the seller? (answers below)

Let’s try another question: You find a great single-family house in a nice neighborhood to buy. It’s a fifty-cents-on-the-dollar deal. Your total all-in cost will be $70,000. A family friend has $70,000 in a CD that’s coming due. Right now, the interest rate banks pay on new CDs is a miserly 0.1%. YUCK! The friend offers to lend you $70,000 if you agree to pay 4.5% compounding interest over 20 years. How much is the monthly payment? (answer below)

Do you know the answers to the above questions? If you want to succeed as a real estate investor – if you want to be able to make the impossible deals possible – then your answer should be YES!

So what’s a real estate investor’s most important tool? A financial calculator! If you don’t know how to use one, then you’re trying to compete against seasoned investors with both your hands tied behind your back while blindfolded. Bottom line: You can’t win!

Roughly 99% of would-be real estate investors (and gurus) don’t know how to turn on a financial calculator – much less use one. September’s meeting is your opportunity to become a 1%er!

At September’s North Georgia REIA meeting, Bill Cook – one of the best and most experienced financial calculator guys in the country – will be teaching financial calculator basics. Want to leave your competition in the dust? Then this is your can’t-miss meeting of the year!

To get the most out of this presentation, before the meeting, go to In A Day Development’s website (http://www.inadaydevelopment.com) and download their Hewett Packard 10bii (pronounced: 10 B 2) financial calculator app to your smart phone or tablet. It’s THE BEST 10bii app out there and costs around six bucks. Bill will only be using the app version of the 10bii, not the handheld version!

North Georgia REIA is passionate about your…

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August’s Meeting

WHAT IS AUGUST’S MEETING ABOUT?

Lots of folks want to be real estate investors. One of the most asked questions is: How do I make money as a real estate investor?

At our August meeting, Dyches Boddiford, Dorsie Boddiford and Bill and Kim Cook will discuss all the different ways you can make money as a real estate investor – even if you don’t have the money to buy a property!

Our August teachers have over a half-century of real estate investing experience. They’ll be sharing lots of their real-world experience – experience you won’t find anywhere else in Georgia!

Here are just of a few of the creative cash-flow topics and real-world examples we’ll be looking at:

Master Leasing
Lending to Investors
Wrapped Notes
Wholesaling
Bird-dogging
Referrals

North Georgia REIA is passionate about…

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July’s North Georgia REIA Meeting Info

WHAT IS JULY’S MEETING ABOUT?

Topic 1: Do you have a tenant who isn’t paying on time and/or taking care of your property? Are you lying awake nights sick to your stomach and mad as a hornet? Do you just want the pain-in-the-butt tenant gone?

During July’s meeting, we’ll go over the steps a landlord must follow if (s)he wants to evict a tenant who isn’t living up to his end of the bargain. In addition, you’ll see some real-world examples of evictions we’ve done recently. The process is simple – but you gotta follow my steps if you want to stay legal and get your house back in good condition!

Topic 2: Want to learn more about how to fight your property taxes? It just so happens that on the day of July’s meeting, Kim and I are going before the Board of Equalization to fight our property values. We’re asking for a 50% reduction in value for each property we’re…

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