the profit newsletter for atlanta reia - february 2013

7/29/2019 The Profit Newsletter for Atlanta REIA - February 2013

1/282013 Atlanta REIA, LLC. All Rights Reserved. Quotation and reprint are not allowed without written permission of the publisher. http://AtlantaREIA.com

Atlanta Real Estate Investors Alliance FEB 2FEB 2013

2013 Atlanta REIA, LLC. All Rights Reserved. Quotation and reprint are not allowed without written permission of the publisher. http://AtlantaREIA.com

Atlata REIA, LLC2700 Braselton Hwy, Suite 10-183

Dacula, GA 30019P: 678-701-7160 F: 770-216-1560

[email protected]://atlantareia.com

Which Type o Real Estate Investing DealHas The Highest Value?

By Bill Cook .................... ....................... ....................... ............ 1Atlanta REIA Welcomes D.S. Murphy & AssociatesBy Jef Nix ...................... ....................... ....................... ............ 2Learn How to Be a Blue Collar Genius

By Jim Hitt ..................... ....................... ....................... ............ 6Getting Started in Multiamily Part 1By Bill Ham .................... ....................... ....................... ............ 7Proving Lender Negligence and Fraud

Part 2: Follow the MoneyBy Bob Massey ...................... ....................... ....................... .... 8CaptureNotes: Your Lie, Color-CodedBy Don DeRosa ...................... ....................... ....................... .... 9Pre-Screening Sellers For Your Real Estate

Investing Business Part 1By Kathy Kennebrook ..................... ....................... ................. 10Short Sales Are Sailing

By Kimberlee Frank .................... ....................... ..................... 14How Do I Handle A Reundable Security

Deposit in QuickBooks?

By Karen Bershad ...................... ....................... ..................... 15Greed In Business - Trouble In The FamilyBy Erven Kimble ..................... ....................... ....................... .. 17Caution Landlords: Accepting Money Ater Filing

An Eviction Impacts Your RightsBy Attorney Jon David W. Hufman ....................... ................. 19New Territories

By Michael Vazquez ....................... ....................... ................. 202013: A Year o Achieving Your Goals with PACBy Russ Hiner..................... ....................... ....................... ...... 21The Best Deals To Do in Real Estate in 2013 & Beyond! Part 2By Tony Pearl ..................... ....................... ....................... ...... 22How to Quickly Get 10 to 15 Good Rental Properties Paid ForFree and ClearBy Larry Harbolt .................... ....................... ....................... .. 24Membership Application ......................................................26Meeting Calendar .................................................................27Calendar o Events ................................................................28

IN THIS ISSUE

Our bank savings account isearning less than 1% interest.Its not even keeping up with

ination. Meanwhile, Kim and I did aLonnie Deal a few weeks back and weregetting an eye-popping 50.38% yield onour investment. If youre like us, youbelieve it makes better nancial sense toget a higher yield versus a much lower one.

So whats a Lonnie Deal? Basically, itswhen you buy a mobile home (thats right,a trailer) in a mobile home park for cashand then sell it on time. Hey, in 2008, Ihad the same soured look on my face asyou do right now as you ask, Trailers?Seriously? Are you kidding me?

Back then we were getting tons ofcalls from folks looking for $500-per-month housing. We couldnt helpthem because our single-family housesrented for between $800 and $1,400

per month. I remember tellingKim that because of the hugedemand for $500-per-month property, weneeded to start doingLonnie Deals.

We bought our rst trailer on September19, 2008 in Bartow County, Georgia.Our all-in purchase cost was around$5,500. We sold it on November 9,2008 for $16,900 with the followingsale terms: $500 down, $16,400loan balance for 75 months at 18%interest with monthly payments of$375. Our yield on this deal is a jaw

dropping 81.22%!There are a number of

advantages to doingLonnie Deals. First,in todays market,theres a huge needfor affordable

continued on page 12

Which Type f RealEstate Ivestig Deal

Has The Highest Yield?

Bill will be teaching you How to Earn Mailbox Money by investing in high yield assets

such as mobile homes at the Atlanta REIA Main Meeting on February 4th. Come joinus to learn more about the oten misunderstood, low cost, high prot world o mobile

home investing. See http://atlantareia.com or more inormation.

By Bill Cook

BringYourBusiness

Cards&Flyers

MAIN MEETING

Monday, Feb 4thCrowne Plaza Ravinia Hotel

4355 Ashord DunwoodyAtlanta, GA

5:30pm - 9:00pm
mailto:[email protected]://atlantareia.com/http://atlantareia.com/mailto:[email protected]



Atlanta Real Estate Investors Alliance FEB 2

Atlata REIA Mai Meetig

Business MeMBer spotlight

D. S. Murphy & Associates is a fullservice real estate appraisal rmwith over 25 residential and

commercial appraisal associates. Theiraverage years of experience are over 15years. The rm is headquartered in At-lanta with ofces also in North Carolinaand Florida. Each D.S. Murphy associateis an expert in their local area. So if you

have a property in Cumming, youll beworking with an associate who lives andworks in South Forsyth County.

D. Scott Murphy, the owner, has anSRA designation from the Appraisal In-stitute, the most respected designationa residential appraiser can earn and heldby less than 1% of appraisers. In 2004 hewas appointed by then Governor Perdueto the Georgia Real Estate AppraisersBoard which regulates 4500+ apprais-ers throughout Georgia. D S Murphy &Associates has appraised over 150,000properties in its 30 years.

In 1999 D. S. Murphy & Associatesopened a real estate school to offercontinuing education classes on vari-ous appraisal topics. Classes are offeredthroughout Atlanta and all AREIAmembers can attend any class at nocharge and earn CE credits if they holdreal estate sales, mortgage loan ofcer orattorneys license. Classes are posted at

www.dsmurphy.com.

D.S. Murphy offers a variety of inves-tor related appraisal products. Theseinclude as-is appraisals, subject-to ap-

praisals, rental analysis andan exclusive product; a con-sultation appraisals, whereinD.S. Murphy is hired as apersonal consultant. Overthe past ve years therehave been more changes tothe appraisal business thanever. Federal regulations

have changed the way ap-praisals assigned, commu-nication among industryprofessionals, guidelines forchoosing comparables, andmuch more. As a consultant, D. S. Mur-phy will prepare a detailed and profes-sional, unbiased appraisal. This appraisalwill be useful in setting a proper list price,convincing a buyer of the true value ofthe property, outlining potential apprais-al issues or required repairs. D.S. Murphy

will also represent the seller through clos-

ing. There is an epidemic problem withlow appraisals. If the subsequent bankappraiser comes in below Murphys ap-praised value, they will step in and pre-pare a rebuttal letter to be sent to thelender and ght to save your deal. Youmay reach their ofce at 678-584-5900,via email at [email protected] on the web atwww.dsmurphy.com.

Would You Like to Expose YourBusiness to More Active Real

Estate Investors?

Do you own a business that could ben-et from a whole new segment of clientsor new customer base? You too could

be a Business Member of Atlanta REIAOur Business Memberships are designedto give your enterprise as much exposureas possible to our members, guests andfollowers based on your membershiptype (Silver or Gold) and your ongoinglevel of participation within our groupThe more you participate, the more benet your business will receive. All we askis that you participate with our group asmuch as possible and consider offeringour members reasonable discounts foryour products and services.

Find out today if your business qualiesand if you can benet from associatingwith Atlantas most progressive reaestate investors. Call or email me to-day to receive a free report, 20 Waysto Get Your Business Involved with

Atlanta REIA.

Comment on this article online athttp://atlantareia.com/?p=19010

Atlanta REIA WelcomesD.S. Murphy & AssociatesBy Jeff Nix,Director of Business Membership
http://atlantareia.com/http://atlantareia.com/http://calculator.atlantareia.com%20/


3/28

Register Online athttp://calculator.atlantareia.com

Ji us fr a eye-peigday f Creatig Wealth byUderstadig the Pwer f

the Fiacial Calculatr!

NGaREIA

GRoW YoUR WEALTH WITH THEFInAnCIAL CALCULAToR

A Full Day Wrkshp preseted by Bill & Kim Ck

Saturday, February 23, 2013 frm 9am 5pm

At the Hilt Garde I, Cartersville, GA

Want to know how to use the nancial calculator to

help determine whether the deal you are working

on is worth pursuing?

Want to know how to calculate the mortgage

payments when a homeowner says Yes!

to your ofer o Will you owner nance?

Want to know how long it will take you to

pay of your credit card balance, or how much interest you

will have paid on your mortgage ten years rom now?

Want to learn how wealthy people just keep getting

wealthier? It isnt a secret. They simply understand Money.Learning the nancial calculator will help you construct

saer, better, more protable Real Estate Investing Deals!

$149/persBring a Spouse or 1/2 price

(thats Spouse with a ring)
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www.Facebook.com/AtlantaREIAKeep up to date with our latest opportunities by joining us on Faceboo

LEGAL DISCLAIMER: Atlanta REIA, LLC promotes practical knowledge of real estateinvestment though education, discussion and networking. The information, views andopinions expressed in the publication do not necessarily reect the views, policies andopinions of Atlanta REIA, LLC or any of its members and sponsors, nor does mentionof certain trade names, products, services, individuals or organizations imply endorsementby Atlanta REIA, LLC or its members or sponsors. The information presented in thispublication is made available for informational purposes only and is not to be construed

as nancial or legal advice which should only be obtained through a competent attorney,accountant or other qualied professional advisor. Atlanta REIA, LLC does not pre-qualify,evaluate, endorse, guarantee or warranty any particular deal, service, company, or person.Atlanta REIA, LLC recommends you perform your own due diligence and seek appropriatelegal, accounting, or other professional advice before making any investment. AtlantaREIA, LLC disclaims any and all liability for any actions or inactions taken by readers ofthis informational material or as a result of communications from or to its ofcer s, directors,employees, contractors, partners, members, sponsors and afliates.

2700 Braselton Hwy, Suite 10-1Dacula GA 30019

P: 678-701-7160 F: 770-216-1E: [email protected]: http://AtlantaREIA.com

Atlanta REIAs mission is to help insure our members real estate success by providing afordable, quality real

estate investing education; requent, un real estate networking opportunities; and ongoing community outreac

programs to help build, renovate and repair homes or needy Atlanta amilies while improving our local communit

Dustin GrinExecutive DirectorP: 678-701-7160F: 770-216-1560E: [email protected]

Christine GrinAssistant DirectorP: 678-701-7160F: 770-216-1560E: [email protected]

Je NixDirector o Business MembershipP: 678-776-8861E: [email protected]

Gordon CattsDirector o Programs, Leader o Movers & Shakers,Atlanta REIA South & Mountain REIA

P: 404-454-3567E: [email protected]

Alan McDonaldDirector o AVS, Leader o the Beginning InvestorsGroup & Cashfow GroupP: 770-369-0446E: [email protected]

Joe ThompsonLeader o Haves & Wants Meeting and SpeedMarketing SessionP: 770-403-3227E: [email protected]

Karen BershadDirector o Membership & Leader o theSmall Business GroupP: 770-356-1234E: [email protected]

Leslie MathisLeader o Atlanta REIA WestP: 678-895-1460E: [email protected]

Reginald JacksonLeader o Atlanta REIA SouthP: 404-427-8797E: [email protected]

Russ HinerLeader o Creative Deal Structuring Group andMastermind GroupP: 404-660-4289E: [email protected]

Aaron McGinnisLeader o the Gwinnett County GroupP: 404-788-3625E: [email protected]

Steve BrownLeader o Cash Cows Commercial GroupP: 770-378-6235E: [email protected]

Don DeRosaLeader o Mobile Real Estate Rockstars GrouP: 678-410-7352E: [email protected]

Rock ShukoorLeader o I Love Marketing GroupP: 678-938-4776E: [email protected]

Michael VazquezLeader o Spanish Investors Networking GroP: 678-951-9222E: [email protected]

Bob MasseyLeader o Short Sale & Foreclosure GroupP: 706-816-9820E: bob@oundationpublishingllc

Mark GaleyPresident o Fuller Center o AtlantaP: 404-867-3258E: [email protected]

Aislee JacksonDirector o Savannah REIAP: 912-695-0665E: [email protected]

mailto:[email protected]:[email protected]


5/28

Mai Mthly Meetig

MEETInG AGEnDA*3:00 pm Meeting Beore the

Meeting with Don DeRosa

5:00 pm Vendor & Event Setup

5:30 pm Vendor Trade Show &Networking

6:15 pm Announcements + Haves& Wants Speed Marketing

Session

7:15 pm Networking Break

7:30 pm Earning Mailbox Money

with Bill Cook

9:30 pm Late Nite Networking at

the Tilted Kilt Perimeter*Please Note: Meeting agenda is subject to change.

Earig Mail Bx Mey with Bill CkAtlanta REIA is very excited to announce that local real estate investing expert and leader o North

Georgia REIA, Bill Cook, will be speaking at our Atlanta REIA Main Meeting on February 4th at the

Crowne Plaza Ravinia in Atlanta which starts at 5:30 PM.

Bill Cook and his wife Kim have been investing in real estate in Georgia for over 18 years. They own

a air number o single-amily rental homes, they ip houses, plus they do a lot o note and option

deals. But the one unique thing they do that gives them the highest yields on their investment

dollars and jam packs their mailbox with money is their mobile home investments thats right,they buy ugly, used trailers!

For example, they buy a used mobile home in a mobile home park for around $3,000, do a quick

clean up and x up, then sell it for $9,000 with $500 down at 18% interest with payments of

around $275 per month for around 4 years. The results of this simple deal are eye-popping! They

quickly turn $3,000 into $12,000 while getting a yield of around 100%! Try matching these results

with ANY other type of real estate investing vehicle. And heres the best part, you dont need a lot

o money and there is very little competition!

Join us at our February meeting if you want to see real-world examples - including pictures and

paperwork - of what Bill and Kim do to earn their mailbox money and how they do it! There is no

u it will be all meat and potatoes!

At Februarys meeting, Bill will be answering the ollowing questions:

Why do Lonnie Deals?

What is a Lonnie Deal and how does it work?

How do you nd the right mobile homes to buy?

Which mobile home deals should you avoid?

How to work with park owners?

How to nd sellers?

How to buy a trailer?

How to sell a mobile home?

What to do if the buyer doesnt pay you?

When is the best time to do Lonnie Deals?

Examples of real deals that Bill and Kim have done

And much more!

Come spend the evening with Bill on February 4th and let him teach you how to earn all the

mailbox money you can handle in 2013!


Atlata REIAMai Mthly Meetig

February 4th

lid Until:

1/2015

MemberNo.

1234

YourName

GoldBusinessMem

ber

Crowne Plaza Ravinia Hotel4355 Ashord Dunwoody

Atlanta, GA

Atlata REIA Members ca atted fr FREE!n-Members & Guests Ca RSVP olie at

http://RSVP.AtlataREIA.cm fr $15 r Pay $20 at the Dr.

BillCook

Bringyourbcards&fye
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Fast track to selF-DirecteD ira investing

Blue Collar Genius DenedA Blue Collar Genius is all of us whohave mastered our craft with hardwork, diligence, taking action, creatingexperience, making mistakes, and mostimportantly never giving up!

Thats a blue collar genius by mydenition. How many times have yousaid Im smarter than he is, but hes

driving the big Cadillac and youredriving the little economy car? Howcould that guy ever make any money?

Perspiration, Inspiration, and BlueCollar GeniusThomas Edison said Genius is 90%perspiration and 10% inspiration.

The Top Real Estate IRA InvestorsKnow Lack o Knowledge = FearHow many people do you know that

have been to every seminar, they knowmore about real estate IRA investingthan anybody youve ever talked to, andwhen you ask them how many dealshave you done?, they say Well, Imstill working on my rst deal. You ask,How long have you been a member ofthe group? Youre not shocked whenthey respond, About eight or nineyears, but Im looking.

Knowledge is wonderful, but you haveto actually use it!

Mistakes the Top Real Estate IRAInvestors Avoid1. You listen to the wrong people,

starting with your family and closefriends. Familiarity breeds contemptor lack of faith. Your family orfriends have a different perceptionof you because they fail to see youfor what you have become andremember you from your past.

2. Believing or setting limitations.

3. Accepting the status quo.

4. A lack of awareness of a subject youwant to master.

5. Lack of exposure. Learn what you donot know.

6. Not enough research, training, and/or education.

7. Accepting the rst answer. Learn toask questions to the fth level.

Top Real Estate IRA Investors AskQuestions to the Fith Level1. What is your business relationship?

Do you own property and businessestogether?

2. Are you married to your cousin?

3. Have you adopted your cousin? Youcannot do loans to your children,your wife or your cousin. I said thaton purpose, by the way.

4. Is the cousin married to your son ordaughter?

5. Is your cousin your guardian of anIRA beneciary?

6. Is your cousin an attorney, CPAor nancial planner who providesservices to your self-directed IRA andhas or does receive compensation?

If a realtor says its a great area, go out thereat 6:00 a.m. and nd out. Check the crimestatistics. Now youre moving forward.You will be a blue collar genius. Its simplewhen you know more than other folks youhave an edge and are an expert.

If you followed my point here, then youknow that the questions I showed herehad nothing to do with cousins butrather were to illustrate my point thatyou should not accept the nal verdictuntil you are comfortable. Once youget the answers three or four times withconsistency, then you can assume thatits probably correct. How many timeshave you gone to an attorney and one

attorney says one thing, and anotherattorney says something else? One CPAsays one thing and another CPA sayssomething else.

How are you going to make an informeddecision until you can get a consensus?Someday you just have to sit down andsay Its a business decision and Imgoing to make it.

For more information, or to explore you

options, call American IRA today at866-7500-IRA (472). We look forwardto working with you.


Learn How to Be aBlue Collar Genius!Jim Hitt, CEO of American IRA, LLC

Jim Hitt800-750-0472

[email protected]

www.AmericanIRA.com

www.Facebook.com/AmericanIRA

www.Twitter.com/IRAExpert

Jim Hitt is the Chie ExecutiveOfcer o American IRA, LLC

and has been committed to all

aspects o investing or more

than 30 years, using seldirected IRAs or his

own investments since 1982. Jims orte is the

nancing and acquisition o real estate, private

oerings, mortgage lending, businesses, joint

ventures, partnerships and limited liability

companies using creative techniques.




Atlata REIAMember Benefts

AtlantaREIA.com Website, Blog and MemberOnly Area

Aordable, High Quality EducationalWorkshops & Seminars

Fun, Frequent Networking Opportunities

Weekly Special Interest Groups MeetAround Town

Lunch & Learn Subgroup Meetings

Wine & Dine Subgroup Dinner Meetings

Atlanta REIA Main Monthly Meeting &Vendor Tradeshow

Learn From Home on Our MonthlyWebcast Series

Members Can Watch Webcast Replays24/7/365 on AtlantaREIA.com

Atlanta REIA Subchapter Meetings

Community Outreach Programs

Haves & Wants Speed Marketing Session

and Weekly Meeting

Monthly Atlanta REIA The Prot InteractiveeNewsletter

Weekly Atlanta REIA Email Announcements,Articles & News

Volunteer Opportunities

Member Discounts on Workshops

Member Discounts from Local & NationalVendors

And much, much more!

Atlata REIA

Member Discuts Lowes Save up to 7% to22% Sherwin Williams Paint Save 30% to 40%

Sherwin William Flooring Save onCarpet, Vinyl, Delivery and Installation

Sears Commercial Save 4%-15% on allAppliances

Nu-Set Save on Locksets, door hardware,security & lock boxes

Build-A-Sign Save 15% on Signs, Banners,and Magnetics and other products and getFree Delivery on all orders

And much, much more!

JiAtlata REIATday!http://AtlantaREIA.com/Membership

Become a Member o Atlanta REIA oras little as $100/year. Businesses can

join for as little as $150/year. See ourMembership Application in this issueof The Prot or visit...

http://AtlantaREIA.com/Membership

real estate raW

Have you ever thought about get-ting into the multifamily busi-ness? Its not easy and its not

for everyone, but if you have what it takesI can show you how! I created Real EstateRaw to pull back the curtain on the com-mercial multifamily business. I have sur-vived the down turn of the economy andquite frankly I dont want to go throughthat again. Do you?!

How many real estate seminars have yousat through to only nd that it was one bigSALES PITCH! Starting a business armedonly with sales pitches is never a good thing.In this 5 part series I will be teaching youthe real side of the real estate business.

Notice I keep saying real estate business?That is one of the rst lessons that mostpeople get wrong when starting out in realestate. Let me clarify this for you.

An investor is someone who is sittingaround with cash that they need to get areturn on. If you have all the cash you needto buy real estate withthen you are aninvestor. If you are trying to create wealthin real estate (not spend it) then you willneed to raise money and possibly qualifyfor some loansyou are not an investor,you are a real estate entrepreneur.

I make this distinction because most peopleget started in the real estate business withthe wrong mindset and that leads to early

frustration. If you are not already wealthyand looking to put cash into a property fora return, then as an entrepreneur you willbe building a real estate business.

Now that we have that clear, you need tobe prepared for all that being an entrepre-neur includes. This will mean hard work,work that you wont always get paid for.You will need to create about 10-15 hoursa week to begin with. Keep in mind thatthe majority of this time will need to be

between 9am-5pm Monday through Fri-day. This is when all the agents, brokers

and most sellers are available and you willneed to be too.

I understand that this may seem like a lot oftime to someone who has a family and a joband you may not have a ton of time dur-ing the work week to dedicate to your newbusiness. Find it! The one thing I tell mystudents is the closing table doesnt careyou get there or you dont. The world isfull of people who wanted to be success-ful but just couldnt make it. That is realestate and this is Real Estate Raw!

The one thing I promise you is the truthand that I will keep it REAL!

In the next 4 sections I will be teachingyou what to ll those 15 hours a weekwith such as how to get deals fundedwith creative nancing, making creativeoffers and creating wealth by solving realestate problems.

Comment on this article online at

http://atlantareia.com/?p=19044

Getting Startedin Multifamily

Part 1 of a 5 Part Series

Bill Ham

Bill Ham478-718-0993

[email protected]

www.LinkedIn.com/In/BillHam1

Bill Ham has been in real estate or8 years and has created a portolio

o nearly 400 units in Macon, GA

using creative and seller nancing.
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In my last article, I explained thatthere are two approaches investorscan take to determine whether or

not a lender has been negligent or com-mitted fraud. The rst approach I de-scribed is to look through the paper trailto dig up issues. The second approach is

to follow the money.

Not many people truly understand howthe mortgage and nance industries work.Its basically a shell game with them mov-ing money around with little regard as tothe laws and regulations that govern howbanks are supposed to act.

They play this constant game all suppos-edly in the name of increasing the moneysupply. Attorney Neil Gareld describesthe process as the bank starting out with$100 in the left pocket and taking $10 outto deposit in the right pocket, but still re-porting to the SEC and investors that thefull $100 is still in the left pocket. Whenthe next $10 comes out, described as trad-ing prots or a fee, the amount in the leftpocket is still reported as $100 rather thanthe $80 that is actually there.

This is just an example of how the -nancial transactions that represent themortgaging of a home rarely take place

the way the homeowner, or the lendersinvestors, think. To really know whatis taking place investigators must followthe money, as well as the paper trail. Thenote, mortgage, HUD-1 and other docu-mentation connected with any given loanmost likely do not reect what actuallyhappened to the funds. As a result, someargue that these documents are null andvoid. The name of the real funder of thetransaction rarely appears on these docu-ments. The nancial transaction occurred

with different terms and with a differentparty than are included on the note andother closing documents. The instruc-tions to the closing agent generally comefrom a stranger to the transaction, withinstructions that any excess payment berefunded to that stranger.

If the loan originator were the real payee,then any wiring instructions should includeterms such as for the benet of [the nameof that payee]. That rarely happens. Thesource of funds should also be included inthe pooling and servicing agreement givento the investors of the mortgage-backedsecurity pool. That never happens either.There is never any reference between themoney chain that is represented by thewiring instructions and the documentation

chain represented by the note, mortgageand HUD-1.

According to Gareld, It was this splitbetween the money trail and the docu-ment trail that enabled the banks to createa long term gap during which they couldtrade ownership of the loan before mak-ing any attempt to deliver the loan to theinvestors who had advanced the funds.

To make matters even more confused,the pretender lenders hedged insurance

policies called credit default swaps againstthe potential loss of mortgage income dueto default. What they failed to reveal toinvestors was that the investment banksthemselves were the ones being protected,not the original investors who all had com-mingled funds in undifferentiated pools.

The mortgage losses on the books of thebanks also caused these same banks to gethuge federal bailouts even though theyhad already been paid off for their losses

through credit default swaps.

By following the money investigatorscan spot one falsehood after anothershowing how the investment banks cov-ered their assets while leaving distressedhomeowners and the original investors

to hang out to dry.

Combining the method of following themoney with digging up the paper trail be-hind a mortgage, we now have a way toforce the banks to negotiate on our termsNot only are we able to use this informa-tion to help underwater homeowners getout from under their homes with no shortsale, no deciency, and no coming out ofpocket, but we are able to pick up prettyhouses at incredibly low prices.

For more information on how you can getinvolved in helping underwater homeown-ers while doing some awesome deals, givemy ofce a call at 706-485-0162.


Proving Lender Negligence

and Fraud Part 2: Follow the MoneyBy Bob Massey

Bob Massey706-485-0162

[email protected]

www.Facebook.com/BobMasseyOicial

Bob Massey is a recoveringcorporate executive who isnow living the dream runninghis own real successul estateinvesting business and

teaching others how to do the same. Inthe process he has become the nationsleading educator on the oreclosureinvesting the oreclosure process.




Youre driving your Uncle Bugsyto the doctor when you spota for sale by owner sign in

front of a nice little brick house. Yourealready running late, but youve beenwatching this house its got a big bluetarp draped over the roof for a coupleof months now. Youve got no pen andpaper, and you wont have time to stop

later. Sure, you can snap a picture withyour cellphone, but youd really like totake some notes, too.

Unfortunately, Uncle Bugsy isnt knownfor his patience, so youre only going tohave about a minute before he starts com-plaining about how inconsiderate kids arenowadays.

What should you do?

If you have an iPad, the solution is a greatlittle app called CaptureNotes. Capture-Notes might look like just another note-taking application, but its not. Yes, it letsyou do all the usual note-taking things:create notes, choose the type of paper andink color, and doodle and scribble on atouch screen. So far, its pretty ordinary.

But there are three other things Capture-Notes does that make it really useful for usasreal estate investors.

First, it has some pretty sophisticated bellsand whistles. You can add photographsandrecord audio while youre taking notes

(say, in a seminar, or while youre inspect-ing a house). And then you can draw orwrite on the picture. The app also usessearchable, customizable, color-coded agsas reminders (red for to do, for example,or green for research needed.). Thoseags can even be used to tag a specic mo-ment in the audio.

Second, it allows you to import PDF lesand use them as templates. This is a greatway to create standardized forms for spe-cic uses. As an investor, I nd that thiskind of streamlining is a big part of mysuccess it allows me to spend more timeon buying and selling properties, which iswhere the money is.

Finally, CaptureNotes provides a prettypainless way to back up your new les,simply by uploading them to Dropbox

or iTunes.

Let me say something here about backingup your les. If you arent already back-ing up, please start! Ive learned the hardway that its not a matter of IF your com-puter is going to crash. Its a matter ofWHEN. And its a pretty safe bet thatitll go dead at the worst possible time.Please back it up!

So picture it: with the clock ticking (Un-cle Bugsy is waiting, after all), you start a

new notebook. Then you jump out of thecar and take pictures of the FSBO sign,and various shots of the house. Now add

those pictures to your note, and then circlethings on the picture of the house thatmight be problematic. Go crazy and drawlots of arrows and circles. Then, ag something just for the heck of it. Between theags and the ability to write and highlighin different colors, youll have an excitingdynamic note thats denitely useful anddarned near artistic.

And thats a beautiful thing.


Don [email protected]

www.MobileRealEstateRockstar.com/Atlanta- REIA

www.Facebook.com/Don.DeRosa

www.Twitter.com/DonDeRosa

Don DeRosa was recognizedas one o the nations top 21real estate investors in theNew York Times bestsellerThe Millionaire Real Estate

Investor. Don, who is a ull-time investor,trainer, and mentor, is the rst to oer hiscomplete investing system on a mobileplatorm. Don teaches investors how toMake More and Work Less by being moreefcient, productive and competitive,leveraging mobile technology and apps

on the iPad, iPhone, Android and othermobile devices.

theres an app For that

CaptureNotes:Your Life, Color-Coded

By Don DeRosa

Im known for my handwritten notes. ~ Pamela Anderson

www.YouTube.com/AtlantaREIA

Keep up to date with our latest videos

by subscribing to our YouTube Channel

AttendDonsMobileRealEstateRockstarsGrouponFeb4that3PM
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10/28

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Marketing Magic tricks

By remembering just a few basics,you, as a Real Estate Investor, canquickly determine whether or not

a seller is motivated to sell their prop-erty. First of all, a motivated seller willask questions like how soon can youbuy my house? or How can you helpme get out of this situation? or Howsoon can you get here? An experienced

Real Estate Investor knows these are re-ally good questions for a seller to ask.

There are two types of houses we are go-ing to buy, either pretty houses or uglyhouses and there are motivated sellers inboth of these categories. When you aremarketing to sellers, there are certaintypes of sellers who are much more likelyto have a house they need to sell.

For example, I personally like workingwith out of state owners (folks who owna property where you live but dont livethere full time), heirs, divorces, vacanthouses, estate and probate properties,military transfers and pre-foreclosures.These sellers are much more likely tohave a house they need to sell rightnow and thats the kind of seller youwant to work with. As a Real Estate In-vestor, you may also run into landlordswho are fed up with tenants ruiningtheir properties over and over. Theseare all good sources of motivated sellers.

Most of these sellers are folks who dontlive in these properties.

Okay, so how are you, the Real EstateInvestor, going to identify a motivated

seller? First of all, dont be afraid to askquestions. This is a basic truth in the realestate investing business. The more will-ing a seller is to answer whatever ques-tions you ask, the more motivated theyare. Never be afraid to ask Is that theleast you would take? You might be re-ally surprised at the answer to this ques-tion, especially if you are dealing with a

motivated seller.

For example, I recently worked witha seller who was asking $205,000 fora property in good condition worth$275,000. This seller was already mo-tivated, but I ended up paying only$180,000 for this property simply be-cause she asked if they would accept alower price. So be willing to ask ques-tions and know that the more willing aseller is to answer them, the better deal

you will make. This is going to be verycrucial to the success of your real estateinvesting business and the amount ofprot you make on your deals.

Another basic truth is that the moreequity there is in a property, the bet-ter a deal you are likely to make, espe-cially if the house needs repairs. Usuallyif there is a lot of equity and the sellershave owned the home for a long time orif they have just inherited it, the morelikely they are to let you have a large

chunk of that equity for your prot.

If there is very little equity in the prop-erty, you are much less likely to be ableto create a good deal unless the property

owner is simply willing to deed you theproperty for the balance of the mortgageand walk away. As a seasoned Real Es-tate Investor, I can personally tell youthis absolutely happens. So dont beafraid to ask the question Are you willing to sell for what you owe? If they sayyes, you are dealing with a motivatedseller who is likely to deed you the prop-

erty for the balance of their mortgagewhich not only will lead to a good pro

Pre-Screening Sellers For Your Real

Estate Investing Business Part 2By Kathy Kennebrook, The Marketing Magic Lady

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We meet at the Total Wine & More located at 124 Perimeter Center W

in Atlanta at 3:00pm beore our Atlanta REIA Main Meeting.

PERIMETER

www.YouTube.com/AtlantaREIA

Keep up to date with our latest

videos by subscribing to our

YouTube Channel

for you, but you dont have to worryabout where the money is coming fromto fund your deal.

Another truth is that the uglier thehouse, the more motivated the seller islikely to be. If you arent getting youroffers accepted on ugly houses that you

can quickly wholesale, you arent target-ing the right kind of junker properties.Ask any Real Estate Investor who hasbeen in the business for awhile and theywill tell you there is a fortune to be madein ugly houses. The more difcult it isto nd this type of seller, the better dealyou are going to make.

Another situation that arises fairly oftenin todays market and creates motivatedsellers is a simple one for you to spot.If a seller is behind on payments, this is

denitely going to be a motivated seller.If a motivated seller is behind on pay-ments and they have a lot of equity, thisis an opportunity for you to make a re-ally good deal. You as a Real Estate In-vestor just have to learn to use a scriptto ask the right questions to determineif a seller is motivated and what kind ofdeal you are going to make with them.Its not magic; it just takes a little nego-tiation and a few questions to pre-screensellers and create some really good deals.

Just remember this, the seller is eitherin or they are out, dont waste your timechasing dead deals. If you follow thissimple rule, you will make a lot of mon-ey in your real estate investing business.

For more information on pre-screeningsellers, locating motivated sellers and

buyers and exit strategies, visit KathyKennebrooks website at www.market-ingmagiclady.com.


Kathy Kennebrook941-792-5390

[email protected]

www.MarketingMagicLady.com

www.Facebook.com/Kathy.Kennebrook

Kathy Kennebrook is a speaker,author and has been actively

investing in real estate since 1999,

Kathy currently resides in Bradenton,FL and is known as the Marketing

Magic Lady because she is the countrys

leading real estate marketing expert on nding

motivated sellers using direct mail.
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housing. Second, theres not muchcompetition. Folks wanting to buy atrailer are forced to pay all cash cashthey dont have because banks wontlend on used mobile homes in a park.At the same time, very few sellers offerowner nancing. If you buy forcash and

then sell on time, youre offering a veryunique and protable service. Third,every month you receive mailbox moneythat is taxed asportfolio income whichmeans these earnings arent getting hitwith Social Security or Medicare Taxes.

There are also a couple of disadvantages.First, you must remember that parkowners are all-powerful. Dont do adeal in a park unless you and the parkowner have a clear meeting of the minds.Second, some of the buyers you work withcan be pretty interesting. Its shockinghow many are 100% healthy but stillget monthly disability checks. These areyour tax dollars at work, folks!

A few weeks back, I partnered withmy buddy Houston Long on my mostrecent Lonnie Deal. He is a long-time

friend and fellow investor. I put up thedeal and the purchase money. Houstonagreed to be responsible for the rehab,marketing and selling. After Ive beenrepaid my purchase money, we will splitall prots 50-50.

The trailer is a nice three-bedroom, two-bath doublewide in a park in Acworth,

Georgia. The seller was asking $12,000.She agreed to our $5,500 offer thatincluded the following purchase terms:Wed give her $3,000 cash down ifshed accept an unsecured note for the$2,500 balance with payments of $100per month at 0% interest for 25 months.

A few weeks later, Houston sold thishome with owner nancing for $17,500with the following sale terms: $2,000down, payments of $250 per month at14% interest for 114 months.

Including our expenses (about $2000),our yield on this deal was 39%. Whenit came time to make our rst $100monthly payment to the seller, weoffered her $895 cash in exchange forour $2,500 note. She quickly acceptedour offer. Shorting our note from $2,500

down to $895 lowered our purchaseprice from $5,500 down to $3,895 andincreased our yield from 39% up to50.38%!

Over the years, Kim and I have done awide variety of creative deal structuresOur favorite and it happens to offer thhighest yields is Lonnie Deals.


continued from page 1

Bill Cook727-420-4810

[email protected]

www.REIOutpost.com

Bill Cook is a ull-time real estate investor, speakerand author. He specializes in single-amilyhomes and mobile home parks. Bill believes

that real estate investing, especiallythe act o buying and holding rentalproperty, is the surest way to nancialindependence and wealth. Bill and hiswife Kim run North Georgia REIA where

they teach others how to successully invest inreal estate.

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13/28

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PRAdO

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@ 5 Seasons Brewing located at5600 Roswell Rd in Sandy Springs at the Prado.

Short Sales Are SailingBy Kimberlee Frank

Many Investors and Realtorsavoid short sales like theplague. They are denitely

missing the boat! My business special-izes primarily in short sales and I haveseen an increase in the number of ap-provals we are getting. The time line fora short sale varies from 90 to 120 daysif you submit the lender a completeshort sale package. Since short sales are

dominating the market, the Lenders arecreating more streamlined processes toconduct smoother short sales. If you doshort sales, then I am quite sure you haveheard of the online system called Equa-tor. Equator allows all of the short salepaperwork to be processed electronicallythrough one common venue, versus tra-ditional and random faxes and emails.Having a le processed online avoids thecommon objection from the short salelender of We didnt receive the docu-

ments. Effective January 1, 2013, thenewest lender that has started to useEquator is Chase. The following lendersand servicers are presently using Equa-tor: 1) Bank of America, 2) Chase, 3)Wells Fargo, 4) GMAC, 5) Nationstar,6) ASC, 7) Carrington Mortgage, and 8)Homeward Residential Services.

The Equator System assigns applicabletasks to each party (Agent, Negotiator,Closer, etc) including a deadline in whichto complete each task. I like the fact that

the lenders can no longer say Oh, wenever got that paperwork. However, I

dont like the fact that they are trackingour information. Nationstar has takenthe collection of Buyers information to awhole new level. They require all Buyersto ll out a loan application even thoughthey most likely will not be using Nation-star as a lender. This application has beenmandatory and this has not been waivedon any of my les. If you are a Buyer onany property, you are required to provide

your name, address, telephone number,DOB, SS#, assets, employment historyand more. This is regardless if you arepurchasing for investment or personal useand if you are getting a mortgage or pay-ing cash.

I believe that the lenders are collectingdata against all Buyers and will soon sharewith each other how many deals eachBuyer has purchased. I had one studentinform me that once he purchased over 10

properties from Bank of America, he wasno longer allowed to purchase any morein his name, his wifes name or companyname. Therefore in the future, when alllenders work as a team, they will share allof this information and limit the amount ofdeals that an Investor can purchase. WellsFargo started using a system called Core-Logic approximately 2 years ago which al-lows them to simultaneously check to seewho was applying for a mortgage at thesame time they were conducting a shortsale. This caused Investors a hardship

even though they fully disclosed to WellsFargo their intention to buy, resell and/orx the property, if they used my paperwork. Many short sales were not approvedat that time and many Investors had noidea WHY? Some of the lenders frown onthe fact that Investors are purchasing theproperty and would rather sell the houseto a homeowner.

You would think that the lenders, sincethey are funded by Investors, would understand how we Investors work. Wedont buy properties at full value, as weare not going to live in the home. This ia business and we cant make the Sellersproblem our problem by paying full valueIt is the Investors, like us, that are helpingthe lenders get money and not go under.

Now is the time to purchase short sales andif you havent started you have 10 years to

ride the wave, so do it now! Align yourselwith a good Mentor and take ight justlike many Investors around the world.

Happy Sailing!


Foreclosures gone WilD

Kimberlee Frank407-888-3255

[email protected]

www.ForeclosuresGoneWild.com

www.Facebook.com/ForeclosuresGoneWild

www.Linkedin.com/in/KimberleeFrank

www.Twitter.com/KimberleeFrank

Kimberlee Frank is a MasterNegotiator who has closed over

600 deals since 1998. She is a

Mentor, Trainer, Author and RealEstate Broker teaching Investors

and Realtors how to creatively purchase and

sell short sales with her Step-by-Step System.

She has helped Investors and Realtors earn

hundreds o thousands o dollars.




Karen Bershad(770) 356-1234

[email protected]

www.SmallBusinessAdvisor.bizKaren Bershad is TheSmall Business Advisor.Most small business ownershave a challenge handlingall the dierent areas o

running a business. The accounting canbe a challenge, particularly i the sotwareseems overwhelming. The Small BusinessAdvisor is what you may need to get you tothe next level of your business. We work atyour ofce or provide o site assistance ingetting things under control by providing awide variety o services that are specicallyor the small business.

How Do I Handle a RefundableSecurity Deposit in QuickBooks?By Karen Bershad, The Small Business Advisor

It is the goal of this column to an-swer questions about QuickBooksand how it is used in the REI arena.

Know how to record transactions in theproper way and have your set of booksin good shape when it comes time fortaxes. It is our intention to do this byyou the members submitting questionsto [email protected],and getting answers here in this column.

Q:I am having difculty reconciling my bankaccount. I have reviewed each entry and havefound that several of my deposits do not matchthe amount the bank has for them. How do Isee all my detail on each deposit without click-ing on each one to open it?

A: Go to Reports Banking and lookfor a report called Deposit Detail. Itwill give you line-by-line detail of yourdeposits in one report and you can com-pare that to what you have in the bank.If you make copies of the checks for eachdeposit and put it with your deposit

ticket on each one, that will give you apaper back up of what you actually gavethe bank. This way if the bank made theerror then you have details of what youproduced to the bank.

Q:Why do I need to create sub accounts in mychart of accounts?

A: The Chart of Accounts is the maindriver of the program. If you have youaccounts set up properly your reports Income Statement and Balance Sheet will be reected properly. You maywant sub accounts for some of your ex-penses in particular to be able to seewhere certain money is being spent. Forinstance if you make sub accounts forAuto Expenses Fuel, Repairs & Maint,Tags, Tolls & Parking, Insurance, etc.

you then can see that the total amountspent in that areas was not just Fuel,which is expensive but you had a majorrepair done and therefore your compari-son to last year for the same time makesmore sense.

Q:I received a Refundable Security Depos-it from my tenant. How do I enter this intoQuickBooks?

A: This is a Liability account that youwill need to payout at some later date. Inyour chart of accounts you should have a

Liability account set up for Security De-posits Escrow or some name that setsit apart from security deposits you paidthat are owed back to you (which is anAsset). In the deposit window, insteadof showing this as income you should goto this special Liability account and book

it to that account. When it is time topay the tenant the money back, less anydamages if need be, you will write thecheck out and expense it also to this Li-ability account to clear the money fromthe account.


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Business By the Book

Greed In Business =Trouble In The Family!By Erven Kimble

The relentless drive to acquire theelusive American Dream, iswhat fuels many business profes-

sionals. To many, in pursuit of the worldsdenition of success, means getting moreand more, climbing the corporate ladderat all cost, or perhaps it means the endjusties the means, no matter what! This

kind of ill-advised pursuit requires that aperson disconnect other areas of life thatmakes signicant demands on their timeand attention. One way to separate thesedistractions is to departmentalize them.

Highly motivated entrepreneur and busi-ness professionals often compartmentalizetheir professional interests from the restof their personal lives. Many go-getterstend to divide their lives into these differ-ent compartments and make decisions asif they are not interconnected. For many,their thoughts about church, religion,matters concerning God and the Bible, oreven their family, have little or nothing todo with their day-to-day business decisionsand activities that are required to be suc-cessful. They rationalize that these differ-ent compartments neatly and separatelyco-exist. For instance, one might;

Dene things as being secular versusspiritual;

Make clear distinctions between thatwhich is personal as opposed to theprofessional matters;

Or draw a big distinction betweentheir family life and their business life.

The truth of the matter is that God doesnot view our lives as being compartmen-talized. A Biblical view sees the secular asspiritual and our professional and personallives co-existing in the same space. The

actions and the decisions that we make atthe ofce effects what happens at home.Whether a person realizes it or not, deci-sions and practices in the work place havea direct impact on what happens back onthe home front.

The relentless drive to get more and more

in the workplace is called Greed. Greedis aw that ultimately brings distrust anddishonor to all those involved. A person inpursuit of unmerited gain is a continuoussource of grief for themselves, as well astheir families. Greed and covetousness leadsmen and women to habitually want morethan their share. As a results, the progres-sive overow of greed leads to bribes andthe kickbacks. Bribes and kickbacks are aperversion of justice, a misrepresentationthat ultimately breeds distrust and dishon-

or to all those that are involved includingall family members who bear their name.Those whorefuse to beinvolvedin theseungodlypractices

will nd longevity and prosperity.

There is energizing freedom and greatgratication in honesty that translates intothe idea of establishing a legacy. Business-

men and businesswomen that strive tooperate an honest business not only livewell themselves, they also leave a proudheritage to their children. Conversely, thefoolish and fraudulent leave an inheritanceof misery.

The good people who live honest lives will be ablessing to their children. (Pr 20:7)(NCV)

A familys religious passion will producethe familys long-term qualities. In other

words, the children of ethical parents arethe recipients of the divine favor of GodThe family traits model behavior that ismimicked by the children, and ultimatelythe advantages or the hazards are experi-enced by the next generation. When thereare models of godly parents who live outtheir Christian beliefs, the children are

challenged to become wise themselves.

Thoughts to Ponder

I. Have you ever considered yourbusiness decisions would directlyimpact your family?

II. What legacy are you preparing toleave your children or family?

III. Have you considered the long termgenerational effect of your businesspractices?


... God does not view

our lives as being

compartmentalized...

Greedy people bring trouble to their families, but the person who cant be paid to do wrong will live.

(Pr 15:27)(NCV)

Erven Kimble404-606-8909

[email protected]

www.PeopleWhoBuyHouses.com

www.Facebook.com/EAKimble

Erven Kimble is an accomplished

pastor, teacher, author, communityleader, licensed Christian Counselorand Real Estate entrepreneur. Ervenis a visionary that has aithully

served as the Senior Pastor o a local church inLilburn, Georgia or twenty years.

The author searched the Book of Proverbs andPsalms and extracted wisdom that reerencebusiness and nances to produce the serieso articles called Business By The Book. Thepurpose o these articles is to present timetested and proven Biblical principles in a waythat is practical, relevant and benecial to theaverage business person.


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Caution Landlords: Accepting Money After

Filing An Eviction Impacts Your RightsBy Attorney Jon David W. Huffman

Landlords often have mixed emo-tions when their tenants call andoffer them money after a dispos-

sessory warrant (an eviction) has beenled. On one hand, landlords are in thebusiness of collecting rent. However,they worry how it may affect movingforward with the eviction. Accepting apayment after an eviction is led does af-fect your rights.

Residential Landlords

A residential landlord has a duty to ac-cept a payment from a tenant who is indefault if and only if the tenant tendersall rents allegedly owed plus the cost ofthe [eviction].1 However, the tenant can-not wait until the last moment to do this.They must tender the full payment withinseven days of the day they were served theeviction paperwork.2 There is no need toworry about a tenant doing this perpetu-ally because a landlord is only obligated toaccept this type of payment once per year.3Making this payment provides a completedefense to the eviction and, upon receipt, alandlord should dismiss the eviction.

If a residential tenant offers a partial pay-ment, however, BEWARE! A residentiallandlord who accepts a partial paymentfrom a tenant after an eviction has beenled waives his right to continue with theeviction and admits the continuance of thelease.4 In simple terms, the eviction fails

and the landlord must start the evictionprocess over if he wishes to evict the ten-

ant. It does not matter when the partialpayment is made whether one hour afterthe eviction is led or ve minutes beforethe eviction trial. Thus the landlord musteither reject the partial payment or, if ac-cepted, he must restart the eviction process.

Commercial Landlords

Perhaps unsurprisingly, the law on non-residential or commercial leases allows

more freedom to contract.

A commercial tenants right to tender pastdue rent and the dispossessory fee can becontractually waived.5 Indeed, in manycommercial real estate leases, this right iswaived. All commercial landlords shouldhave an attorney review their lease to en-sure that they have the right to regainpossession of their property upon defaultwithout giving a tenant the right to paythe past due rent and dispossessory fees.

Following the freedom-to-contract prin-ciple, a commercial landlord can accept apartial payment without waiving his rightsto evict. Under O.C.G.A. 44-7-52(c), acommercial landlord is free to take a par-tial payment and continue the evictionprocess unhindered. Of course, any moneyreceived would offset the landlords dam-ages. So commercial landlords, cash thatcheck and keep on going!

Disclaimer:The information contained in this

article is for informational purposes only and isnot legal advice or a substitute for legal counsel.

It does not constitute advertising or solicitationThe information in this article may or may noreect the most current legal developments; ac-cordingly, this article is not guaranteed to bcomplete, and should not be considered an indi-cation of future results.


1 O.C.G.A. 44-7-52(a).2 Id. 3 Id.4 Gay v.

American Oil Co., 115 Ga. App. 18, 153 S. E. 2d

612 (1967).2Id.3Id.4Gay v. American Oil Co., 115 Ga. App. 18, 153 S

E. 2d 612 (1967).5Hardwick v. 3379 Peachtree, 184 Ga. App. 822,

824, 363 S.E.2d 31 (1987).

real estate legal report

Jon David Human404-373-4008 x 304

[email protected]

www.PooleLawGroup.com

www.JonDavidHufman.com

Jon David Human is a litigation

attorney specializing in real estate

disputes, business disputes and

commercial collections. Withmore than a decade o experience managing

small businesses beore attending Emory

Law School, he brings a business owners

perspective to the practice o law.

www.MeetUp.com/AtlantaREIA

Join us on Meetup and RSVP for the meetings youwill be attending.
http://www.meetup.com/AtlantaREIA/http://www.meetup.com/AtlantaREIA/http://www.meetup.com/AtlantaREIA/http://www.meetup.com/AtlantaREIA/




With each New Year comesnew ventures. More andmore often investors have

to expand their investment territories inorder to stay

the profit newsletter for atlanta reia - february 2013

Documents