Archive for December, 2012

How We Structured That Subject-to Deal

Posted on December 31, 2012 by
Two weeks ago, our column was about a lady who, because of a divorce, was being forced to move back home to Mississippi.  Problem was, she owed a lot more on her house than it was worth. In that column, I briefly described the seller’s situation and touched on the creative deal structure I used [...]
Jim Hitt will be our special guest speaker this month at the Creative Deal Structuring Group on January 9th (NOT Jan 2nd as usual) at 7PM at the Whitehall Tavern in Atlanta. Jim talking about how to use your IRA and others IRAs to make money! What it would be like to structure a deal [...]

How to Learn About Real Estate Investing

Posted on December 29, 2012 by
After last night’s real estate investors meeting, three new folks came up and asked me the best ways to learn about real estate investing. The two short answers are: 1) Sit down with a seller and ask, “Why are you selling such a nice house like this?”  2) Meet regularly with other real estate investors [...]
On January 7th at 3 PM at Total Wine & More located at 124 Perimeter Center W (see map), I am giving a presentation that you don’t want to miss. I am going to be going over the details of a $875,000 short sale I just closed that most investors would have abandoned months ago. Instead of giving up, I modified my strategies and ended up making more than if everything had gone according to the original plan! We are also going to be discussing mortgage fraud, securitization issues, and foreclosures. The banks have been defrauding homeowners for years, and we now have a way to use that...
All of us at Atlanta REIA want to thank you so much for being a part of our organization this year and want to wish you and yours a very Merry Christmas and a Happy, Healthy and Wealthy New Year! We look forward to spending another prosperous year with you! Thanks again!

Subject-to Deals May Be The Ticket

Posted on December 21, 2012 by
Today, I spent the day working with a guy who wants to get into real estate investing. For almost twenty years, he’s worked for a big company.  Now he realizes that his efforts and ideas are making that company prosperous.  Meanwhile, his net worth is only creeping up a millimeter at a time.  He’s very concerned about his future financial well-being. We knocked on the first seller’s door at 9:15.  We found the property while driving through a neighborhood that Kim and I regularly work.  The property owner had a For Sale sign in the yard.  After the seller told us her asking price and the...

Is Financial Freedom A Choice?

Posted on December 19, 2012 by
Folks, this week’s column is very different from my usual.  I’m afraid a lot of you will think it’s overly harsh and that I’m one big jerk.  Who knows – you may be right on both counts.  It’s just that I truly feel that success – financial freedom – is a choice.  Actually, it’s more like millions of little-bitty, every-day choices – maybe call them habits – that we make each day.  If you make more bad choices than good, you won’t be pleased with the results.  Make more good choices than bad, and you’ll end up on easy street.  Simple as that! Yesterday, I met with a friend (we’ll call him Ben)...

Where’s Your Emergency Fund?

Posted on December 17, 2012 by
We’ve all heard the wise, old saying: Save for a rainy day.  Dave Ramsey calls it an emergency fund.  Whatever you call it, it should be enough cash to support you and your family for three to six months.  Because these funds need to be liquid – in case of an emergency, you want to be able to get to your money quickly – it’s best to keep this money in a money market account. This morning, I met with a couple of other real estate investors to discuss year-end and 2013 tax strategies.  Part of our discussion was about our emergency funds and the question of when is enough really enough? Right...
Have you ever wondered what it would be like to take an extremely successful real estate investor out to dinner?  What questions would you ask them?  What would you want to know?  What are you just dying to find out that will make a significant impact on your investing?  What is it that will help you make a lot more $$$$ in 2013?  What difference would that make for you in your business and your life? Well guess what?  I’ve already arranged this opportunity FOR YOU, and it happens this coming Monday, December 17th at Wild Wild West Subgroup of Atlanta REIA!  Listen up, folks, this is...

Best & Worst Deals in 2012

Posted on December 14, 2012 by
The December meeting of North Georgia REIA is one of our favorites.  Real estate investors from around Georgia, Tennessee and Alabama show up to answer this question: What was your best and/or worst deal in 2012? Why is it such an important question?  Because one of the best ways to learn how to be a better, wiser investor is to learn from the experiences – both good and bad – of other investors around you.  This keeps you from trying to reinvent the wheel.  Remember the old saying: A smart man learns from his mistakes.  A wise man learns from others’ mistakes.  During the meeting, the first...