(Getting New Real Estate Investors Started) Another ugly day in real estate investing?
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I’m working on a rehab right now. This is what you look like when you shovel 35 tons of concrete and dirt out of a basement window using nothing but shovels and buckets (I told you it was ugly).
Rehabs aren’t for everyone, but some of the things I’m doing to make money on this …
(Commercial Property Investing) Give Great Phone, Talking to Sellers
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When talking to motivated sellers, you have to learn to “give great phone”!
I spent 25 years training salespeople before getting into real estate, and there’s some tricks that I call “Telephone Magic” that you can use to be a much better phone negotiator. Let’s face it… as a new investor, if you’re anything like I …
Commercial Investing, Just Add a Zero!
Although REI-TV focuses more on how to make money as a real estate investor flipping or buying and selling single family homes, there’s an entirely other “animal” out there that many of you may care to begin to learn of… commercial investing.
My friend Jeremy Shapiro, from Maxa Investments specializes in multi-family homes, and provides a …
“How do I get into commercial real estate investing?” is a question I’ve heard several times, and this episode follows up on our last, with Jeremy Shapiro, and our “Prime Time” call with my friend, Terry Hale. (if you’re not a Prime Time member, check it out here, the 1st two months are free!)
This “Newbie …
(Current Markets Overview) ?Filthy Stinking Rich? ? A Moral Lesson
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Here’s a quick exercise for you.
Finish this phrase: “Rich people are______________.”
How did you complete this phrase? Are your answers mostly positive or negative? Did you think of words like successful, accomplished, and disciplined? Or did you come up negative words like greedy, snotty, or ruthless?
Whether you admire or despise the wealthy, how you feel about …
How to Invest in Real Estate with
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No Money Down
?
Part 3
Using only your own resources you can only go so far. Learn to tap into other people’s resources and the things you can do are virtually limitless.
Love Money: It’s not what you think.
You likely have friends, family, and associates out there who want to see you succeed. They can back you up financially. Now before …
(Real Estate Deal Negotiation) My New Year’s Resolution: Be More Neglectful
The Most Powerful Way to Change your Belief
(Apartment House Investing) Give Great Phone, Talking to Sellers
More info…
When talking to motivated sellers, you have to learn to “give great phone”!
I spent 25 years training salespeople before getting into real estate, and there’s some tricks that I call “Telephone Magic” that you can use to be a much better phone negotiator. Let’s face it… as a new investor, if you’re anything like I …
“How do I get into commercial real estate investing?” is a question I’ve heard several times, and this episode follows up on our last, with Jeremy Shapiro, and our “Prime Time” call with my friend, Terry Hale. (if you’re not a Prime Time member, check it out here, the 1st two months are free!)
This “Newbie …
A Day in The Life! Our Latest Sub-To Deal
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We bought a property this week, a sub-to deal… we’ll, we contracted to buy it. Unless it’s a GREAT deal, one with tens of thousands of equity, we make the contract and eventual purchase “contingent upon us finding a tenant or a buyer”. That way, until we get PAID, nothing goes out! Here’s some more …
(Commrecial Real Estate Investing) A Day in The Life! Our Latest Sub-To Deal?
More info…
We bought a property this week, a sub-to deal… we’ll, we contracted to buy it. Unless it’s a GREAT deal, one with tens of thousands of equity, we make the contract and eventual purchase “contingent upon us finding a tenant or a buyer”. That way, until we get PAID, nothing goes out! Here’s some more …
“How do I get into commercial real estate investing?” is a question I’ve heard several times, and this episode follows up on our last, with Jeremy Shapiro, and our “Prime Time” call with my friend, Terry Hale. (if you’re not a Prime Time member, check it out here, the 1st two months are free!)
This “Newbie …
Welcome to The
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Flippin Right Show
?
!
“I Have 29 FREE Tickets to a HUGE Real Estate Event!”
Want to join hundreds of investors in Orlando? Come as my guest… free!
Anyone SERIOUS about making BIG Money in 2009 should attend. There’s going to be a great lineup of speakers, networking, learning, (drinking, hic) and some good times as well.
I attribute A LOT of …
(Real estate gurus) Cash Flow Analysis ? Annual or Monthly?
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A reader of one of my books wrote to me recently with a very worthwhile question. When we build a pro-forma analysis of future cash flows from a real estate investment, why do we annualize those cash flows instead dealing with them on a monthly basis? After all, rent is typically collected and bills paid …
(Real Estate Investing Mentors) Don?t make the same mistakes I did?look for a Mentor.
After an up and down career in the corporate world, I decided I had enough and wanted to start investing in South Florida Real Estate. After all, the baby boomers were maturing; the economy was humming along and everyone from where I’m from (Philadelphia - Home of the Eagles, soft pretzels with mustard, hoagies) wanted to retire in Florida. I though I was real smart. After all, I dabbled with Real Estate in Puerto Rico and was moderately successful. Man, was I WRONG! I should have gotten a Mentor to guide me!
Some of the many benefits my associates and MREIA members receive are the experience we offer them and because of the networking, the benefit of everyone else’s experience.
If you are a newbie (new to real estate) having someone, a mentor, to ask questions is a blessing. I am always saying - “Look at all the mistakes I can tell you about and how to avoid them while pursuing a deal or making a purchase.”
One of the things as a Newbie, that took me a while to grasp, was creating a business entity and team building to help achieve our objectives, reduce mistakes and limit risk.
Below is a brief outline of items you should address to help you get started in your real estate investment career or hobby:
Before you Start Looking for Deals:
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- Make sure EVERYTHING IS IN WRITING.
- Join a Real Estate Investors Association REIA.
- Open a Florida Corporation
- Create Articles of Incorporation
- Identify corporate Officers: President, Treasurer, Secretary, etc.
- Need to declare number of outstanding shares and price per share.
- Create Articles of Incorporation
- Buy/Sell Agreement or Share Ownership Agreement.
- Want the ability to move shares when board of directors change.
- Make sure you have a Shotgun Clause.
- Dictates that if you are in a partnership and the partners want to get rid of you, you have to be bought out.
- Company Seal
- Meeting Book
- TAX ID # or EIN #
- Print up Your Business Cards
- Business Bank Account
- Documents Needed to Open an Account
- Drivers License with Photo
- Articles of Incorporation
- Certificate of Status
- EIN #
- Signatures of Corporate Officers
- Bank Stamp for Deposits
- Documents Needed to Open an Account
- Build Your Team
- Real Estate Accountant
- Real Estate Attorney
- Business Plan
- Attend Conventions
- Develop A System
Next Step: Finding the Deal
Take the 1st Step with Someone!
Bob Burns
Check out our Mentorship Program Outline at:
http://www.investmentpropertiesmiamiflorida.com/?page=consulting
(Joint Ventures and Structure For Real Estate) Pre-Paid Legal: The Tool Every Investor Must Have
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Pre-Paid Legal:
The Tool Every Investor Must Have
2008 by Wendy Patton
In your investing career how many times have you thought to yourself, Id like to have an attorney look at this but I dont want to spend the money?, or I think this is the law, but it would be nice if I could ask an …
Some Average Folk s Profit Big, Thanks to Recession
&
Down Housing Market
San Diego - While millions of Americans are suffering economically, some ordinary Californians are making huge sums of money combining two things youd least expect: Real estate and the recession. As the housing market continues to plummet, a few commercial real estate asset classes are skyrocketing and some folks have learned how to acquire …
(Real Estate Auctions) Flipping Houses In a Recession
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The Story Of The Two Flippers
By Pre$ton Ely
Once upon a time, there were two real estate wholesalers. Flip and Skip. They lived in a small town called Flipville. Flipville, USA.
Life was good in Flipville for little Flip and Skip. They were both really good at flipping houses. They would flip …
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