the profit newsletter june 2013 for tampa reia

7/28/2019 The Profit Newsletter June 2013 for Tampa REIA

1/28http://TampaREIA.com

Tampa Real Estate Investors Alliance JUNE 2

2013 Tampa REIA, LLC. All Rights Reserved. Reprint not permitted without written permission from publisher.

Has This Ever HappenedTo You?

You spend a good chunk of time writingwhat you think is a KILLER ad. Youvepicked where youre going to advertise(Ofine? Online? Both?). You set asidesome marketing money, and hope that

it works out by bringing you back someleads, which should turn out to be a dealor two.

Then you place the ad. And wait. Andwait some more. You stand by thephone or look at your inbox to seewhen those leads will come rolling in...And THEN what happens? Nothing!Nada. No calls. No email submissions.No love. Sound familiar? If youve beenin business for any length of time, youvebeen there. It sucks.

No leads. No phone calls. Money downthe toilet. Worst of all: No Leads = NoDeals. And No Deals = No Income!

WHY did that happen? Andwhat can we do to FIX it so it

doesnthappen again?

Well, theres actually a lot of differentthings that could have made thismarketing disaster. Heres a coupleexample of some of these things may be

beyond your control:

1. Bad timing(Example: It was a badtime to be an air travel agent rightafter 9/11);

MAIN MEETING

IN THIS ISSUE

JUNE 2013

The Biggest Mistake Most People Make inTheir Lead Generation Marketing

By Tony Pearl .............................................................................1

Working Asset ProtectionBy Russ Hiner.............................................................................4

Choosing a Great Domain Name or Your BusinessBy Dustin Grifn .......................................................................5

Warning: To Anyone Who Owns Real EstateBy Larry Harbolt .......................................................................6

Wholesale Houses Around Your 9 to 5 JOBBy Matt Larsen..........................................................................7

What Values Do You Need To Know When Investing?By Mark Jackson ......................................................................8

About Tampa REIA ...........................................................................9

Due Diligence on a Potential Deal or PartnerBy Dyches Boddiord ............................................................ 10

Write Killer Ads to Attract Motivated Sellers in DrovesBy Kathy Kennebrook .......................................................... 12

Get-Er-DoneBy Ron LeGrand .....................................................................14

Open Source Apps: Cheap Can Be Great!By Don DeRosa ...................................................................... 16

Helping Sellers Survive the ForeclosureRoller Coaster Ride

By Kimberlee Frank...............................................................17

Nine Tips or Spotting a Fraudulent Loan or ForeclosureBy Bob Massey .......................................................................19

Working With Brokers and AgentsBy Bill Ham .............................................................................20

Protect Your Nest Egg - Mistakes that Can Cost You!By Jim Hitt...............................................................................22

How We Financed The DealBy Bill Cook ............................................................................. 25

Meeting Calendar ...............................................................27

Calendar o Events ..............................................................28

The Biggest Mistae MostPeople Mae in Their Lead

Generation MaretingBy Tony Pearl

Come join us at Tampa REIA on Thursday, June 13th at 6:00PM at

the Doubletree Suites Tampa Bay located at 3050 North Rocky

Point Dr. West in Tampa, FL where we will be discussing Land

Trusts, Lead Generation and Investor Friendly Titles Services as

well as answering your questions on these important topics.

See http://tampareia.com or more ino.

Tampa REIA, LLC

continued on p3

Thursday, June 13th6:00pm 9:00pm

DoubleTree Tampa Bay3050 N. Rocky Point Dr. West, Tampa, FL

405 S. Dale Mabry Hwy, Suite 114Tampa, FL 33609

P: (813) 358-8050 F: (813) [email protected]://tampareia.com
http://www.meetup.com/tampareia/http://www.youtube.com/TampaREIAhttp://www.twitter.com/TampaREIAhttp://www.facebook.com/TampaREIA





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Tampa REIA Members Can Attendfor FREE and Guests for $10.00.

Please RSVP at http://rsvp.tampareia.com

Come join us at Tampa REIA on Thursday, June 13th at 6:00PM atthe Doubletree Suites Tampa Bay located at 3050 North Rocky PointDr. West in Tampa, FL where we will be discussing several importanttopics on

1. Ld Trusts: Long time real estate investor and trainer, LarryHarbolt, will be with us to discuss the importance o using LandTrusts to purchase and/or hold real estate and to answer your trustrelated questions.

2. Led Geerti: Tampa REIA Executive Director, real estate investorand marketing enthusiast, Dustin Grin, will be discussing variousways to generate motivated buyer and seller leads and answer yourmarketing related questions.

3. Ivestr Friedly Title Services: Walter DeVenne, Chie MarketingOcer and Partner or Clear Title America, LLC, along with his attorney,will be discussing the services they provide or real estate investorsand answering your closing related questions.

So come join us at Tampa REIA to get your questions answered on theseexciting and important topics. See you there!

Main Monthly Meeting

MEETING AGENDA*6:00 pmMeet & Greet, Networking

6:30 pmIntroductions, Haves & Wants

7:00 pmAnnouncements

7:30 pmLarry Harbolt on Land Trusts,Dustin Grin on Lead Generation &

Walter DeVenne on Investor FriendlyTitle Services

9:30 pmLate Night Networking at

Whiskey Joes

*Please Note: Meeting agenda is subject to change.

Join us at Tampa REIA to discuss

Land Trusts, Lead Generation& Real Estate Investor Friendly

Title Services

Doubletree Suites Tampa Bay

3050 North Rocky Point Dr West

Tampa, FL

Bringyourbizcards&fyers

Larry,Dustin&Walt

June 13th @ 6pm





2. No market for what youre selling; or

3. Excessive, Superior Competition.

But lets not focus on what we cantcontrol. Chances are, theres always

something that youcan do better to havesuccess MOST of the time.

Heres ONE obvious thing you shouldalways check Accuracy: Is the rightPhone Number, Website, or Hyperlinkin your ad? Weve heard stories ofpeople who have put out a proven,winning ad to a responsive, targetedlist, then wonder why they got nophone calls... only to discover that theWRONG phone number was on the ad!That could be a bad day, so be sure you

proof-read your ad one last timebeforecommitting it.

Assuming it is correct, its now time tolook at:

The Biggest Mistake Most PeopleMake in Their Lead Gen Marketing

Yeah, I know thats the title of thearticle. Im saying it again for emphasis!

So Here it is: The Biggest MistakeMost People Make in Their

Marketing is:Trying To SELL To The Prospect!

Wait... what? But I thought thatmarketing was the same as selling?! I dontget it! Right... Thats why youre readingthis article!

So Let Me Explain...

Unless youre sending out a full sales

letter, the Purpose of an ad is NOTto SELL The prospect anything. Thereshould be nothing for them to BUY.Confused? Good. Keep reading.

The Purpose of an ad is to Target aSpecic Market, then Arouse enoughCuriosity to Get the Prospect to RaiseTheir Hand and Request MoreInformation by taking a certain,specic ACTION, such as making aphone call, or lling out a FORM, etc.

(Back in the Flintstone age before theInternet people used to actually MAILstuff in!)

If you can do THAT Get someone toCall You and/or request more information,then youre giving your sales process

the chance it needs to succeed. The ideahere is that you dont want to give yourprospect too much information in an adthat they can make a decision becausemost of the time, theyll think theyalready know enough, and their decisionmight be No. (Not good)

So, for your next ad, try writing it sothat you dont Sell your prospect onanything... except why they should pickup the phone & call you to get moreinformation about HOW you can help

them.

Once they call you, THEN you canengage them in your process ask themquestions, see what their needs and goalsare, so that you can then Make em anOffer They Cant Refuse.

HOW do you get them to take action?It all starts with your headline. Your adsheadline should rst Identify & Targetyour prospects. The more specic, the

better. Example:Attention: Atlanta

Homeowners Behind On YourMortgage...

That headline targets a specic market.Obviously, someone who rents anapartment in Oakland, Californiawouldnt even notice an ad like that.And thats exactly what you want.

The next part of your Headlineshould offer your prospect somethingdesirable, that arouses curiosity,

and compels them to keep reading.Continuing with the above example:Shocking Video Reveals the#1 Way Atlanta Residents Can

Avoid Foreclosure WITHOUTBankruptcy, Guaranteed!

Depending on what type of adyoure using (Bandit Sign, Craigslist,Newspaper, etc.), you can either sprinklein some benet-laden Bullet Points, orjust cut straight to the Call to Action

(CTA) Get them to DO what youwant them to do, like callyou on thphone number you provide. Or ll outhe form when they go to your websiteYou get the idea. But ALWAYS havthat CTA.

And there you have it! The biggesmistake most people make in theiLead Gen Marketing is that thetry to SELL the prospect on trying tmake a BUYING decision too early inthe process, rather than simply arousinenough curiosity to compel the prospect traise their hand and Take Action togemore information.

So dont make that mistake anymoreand youre well on your way to makinga much higher Return On Investmen

(ROI)with your marketing money, doingmore deals, and having more FUN whenyou run your ads from now on!

Make sure you read this column nexmonth, when Ill talk about a couplmore common marketing mistakes mospeople make, and how YOU can avoidthem. Until then, Im...

Wishing You Success,

Tony Pearl

Comment on this article online athttp://tampareia.com/?p=2212

continued from page 1

Tony Pearl202-556-0670

[email protected]

www.TonyPearl.com

www.Facebook.com/TonyPearl

www.Twitter.com/TheTonyPearl

www.Youtube.com/TonyPearl

Tony Pearl is an entrepreneur,copywriter, proud ather, mentor,marketing consultant andtalented teacher who residesin the Washington, DC area. He

has traveled to over 26 countries, speaks 4languages, and continues to travel extensively.He has been a proessional Ballroom and Latindance instructor, competitor, and exhibitor orover 19 years. As a Real Estate Investor, Tonyhas bought and sold over Ten Million dollarsworth o real estate, and has been educated byand associates with the best.
mailto:[email protected]://www.facebook.com/TonyPearlhttp://www.tonypearl.com/http://www.facebook.com/TonyPearlhttp://www.twitter.com/TheTonyPearlhttp://www.youtube.com/TonyPearlhttp://www.youtube.com/TonyPearlhttp://www.twitter.com/TheTonyPearlhttp://www.facebook.com/TonyPearlhttp://www.tonypearl.com/mailto:[email protected]





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http://TampaREIA.com/Membership

Recently, I heard a talk show hostsay that all properties should havetheir own LLC and that a corpo-

ration should own all of the LLCs so thatit will be the umbrella under which theLLCs are safe.

.Let me offer another point of view that,after years of experience, I can say hasworked for me and for people whom Icoach on a daily basis.

The reality is that an LLC for each propertyis impractical. The main reason is that eachLLC would have it own tax return. Thisgets costly and tedious.

Compromise is the solution: Why nothave a 3-in-one LLC that covers the good,the bad, and the ugly? Hear me out--anLLC is good because if someone tries tosue, by law the person has to take all ornothing; he cannot cherry pick. If youhave a property that you just bought andit turns out to be a liability, it will balanceout the GOOD property. And, the UGLY

is a property whose cash ow is barely atfair market value.

If I am doing the buy, x, and sell, this isan easy system. If the LLC is for long termholds and all the properties are great,then I have a chance to lose everything inthat LLC. In this case,I create another LLC.

But, you say, an accountant will not allowthe LLC to ow through your income taxstatement. Not true: there are accountantswho do. Hire an accountant that does! (Seebelow for referrals.)

Personally, I love real estate because ofthe tax benets and the exciting thingsyou can do to make money. Why wouldI pay extra taxes? The question is, why

would you or anyone else pay extra whenyou can do better?

Lets look at asset protection. When Ind a property worth buying, I oftenhave another corporation/ friend/ parent/relative write a mortgage on it for twice asmuch as the property is worth then le itat the court house as a lien. Money mustexchange hands for this to be feasible. Thisway, a lawyer looking to make a quickbuck will pass over your property because

he will see that the properties are overleveraged. In part, this works because theentity cannot be one that you own morethan 50% of.

But what if a lawyer does take notice? Thekey is to keep two LLCs that you are notusing. First benet banks will not loan toan LLC that is younger than 2 years old,so having an LLC already set up, allowsyou to move things around when oneLLC looks like it might become a target.Plus you can then start taking out loans.Being proactive never hurts. Beware if the

attorney does le the suit and you havefreshly transferred the property then thecourt nullify the transfer then you still areon the hook.

Another strategy is to place the propertyrst into a Fiduciary Land Trust. Thisgets your name off of the record. It is bestto make the attorney your trustee, butit can also be your entity if you own lessthan 50%.

I coach people in real estate every day. I seethem become successful every day. Here is

what I offer them for consideration whenthey begin thinking about LLCs:

1. Utilize a Fiduciary Land Trust.

2. Make a trustee an LLC/ corporation.

3. Have the trustee take out a loan onbehalf of the trust in an amount morethan the value of the property.

4. Make the beneciary of the trust isan LLC.

5. Make the LLC owned by a corporation

The above information is important tohave. I have experience and know how

it can work best for YOU. You can go italone and work harder than you need toor you can utilize my expertise.

Interested in working smarter and notharder? If so, contact me using theinformation below.


How To Be A ReAl esTATe InvesToR

Working Asset ProtectionBy Russ Hiner

Russ Hiner

[email protected]

www.RHiner.com

www.Facebook.com/1RHiner

Russ has been investing in realestate in Atlanta Georgia since 1981.His company currently controlsapartment buildings and single-amily properties in Georgia and

other states. His ocus is on raising private capitalthrough Hedge Equity, LLC.

Russ invests everyday. His knowledge andexperience is current in the market. He iscapitalizing on the needs, wants, and desires othe customer. He has a deep level o experience

in building relationships with vendors, investors,tenants, sellers, and qualied buyers. He hasthe knowledge to negotiate contracts, managerental properties, and make his co-investorswealthy. He enjoys taking properties whichare virtually destroyed, renovating them, andcreating a better community.

MeetingRussonJuly11thatTampaREIA!





Choosing a great domain name(aka web address or URL)for your business and company

website can be just as important aschoosing your company name. In fact,when I am thinking about starting a newcompany or online venture, I often choosemy domain name rst since nding anexcellent domain name that is not takenis often more difcult than choosing a

good company name. Additionally, awell-chosen domain name is often morerecognizable and memorable than mycompany names which may not be thesame as my domain names.

If you plan on putting your domainname on all of your online and ofinemarketing material as I suggest, yourdomain name will often be the rst thingpeople see and remember when viewingyour marketing material and visitingyour website. Therefore, your domainname is a crucial part of your businesssunique brand and identity online. Sochoosing the right domain name foryour business is very important, sochoose wisely.

For the purposes of this article, you needto choose a domain name you can use toestablish your businesss unique identityand allow your prospects and customersto easily nd you online.

HomeVestors has several memorabledomain names that they use to driveprospects to their websites such asHomeVestors.com (their companyname) and WeBuyUglyHouses.com(what they do).

Likewise, at One Hour Homebuyers,we use OneHourHomebuyers.com (ourcompany name), WeBuyPrettyHouses.com (what we do), SuperHomebuyers.com (what we are), etc. to drive prospects

to our websites for more informationwhere they can tell us all about theirhouses for sale.

Regardless of what product or servicesyour business sells, your website domainname is crucial to your brand and thesurvival of your website, so again, pleasechoose wisely.

Thoughts to Ponder WhenChoosing Your Domain

Name(s):

1. Is your domain name as short aspossible or does it appear as ne printwhen printed on your marketingmaterial? Ex. WeBuyHouses.net(15 characters) vs. We-Sell-And-Lease-Homes.com (27 characters)

2. Is your domain name easy to

spell and easy to remember? Ex.WeCanBuyFast.com

3. Is your main domain name a .COM,.NET or some other less popularextension such as .BIZ, .US, .INFO,.WS, .NAME, .CO, etc.?

4. Did you avoid using a deliberatelymisspelled domain name unless youare able to secure the correct spellingas well? Ex: SellURHome2Us.com

vs. SellYourHomeToUs.com

5. Did you avoid using hyphensunless absolutely necessary tosecure your preferred domain? ExWeBuyPrettyHouses.com vs. We-Buy-Pretty-Houses.com

6. When people read your domainwill they know what you do or

what your business is all about?Ex: WeBuyHouses.net (specic) vsABCFinancialGroup.com (vague)

7. How many domains did you registeto protect your brand? Did youregister the .COM, .NET, .CO, .US.INFO, etc. so that no one else does?

8. Did you register the singular andplural of your brand so that someoneelse wont? Ex. SuperHomeBuyers

com (plural) vs. SuperHomeBuyercom (singular)

9. Did you purchase YourCompany-Name.com (whatever it might beso that no one else will?

10. Did you purchase and secure yourdomain name for 5 years or moreand make it private/unlisted?


800 Pound GueRIllA MARkeTInG

Choosing a Great Domain Namefor Your BusinessBy Dustin Griffin

About the Author: Dustin Grin is theExecutive Director o Atlanta

REIA and Tampa REIA andis also an entrepreneur, realestate investor, website

developer, internet marketingenthusiast and a husband andproud ather o two.
http://www.homevestors.com/http://www.webuyuglyhouses.com/http://www.onehourhomebuyers.com/http://www.webuyprettyhouses.com/http://www.webuyprettyhouses.com/http://www.superhomebuyers.com/http://www.superhomebuyers.com/http://www.superhomebuyers.com/http://www.superhomebuyers.com/http://www.webuyprettyhouses.com/http://www.webuyprettyhouses.com/http://www.onehourhomebuyers.com/http://www.webuyuglyhouses.com/http://www.homevestors.com/





Beach REIAMeets 3rd Thursday Each Month at 6PM

at Gators Cae & Saloon located at

12754 Kingfsh Dr, Treasure Island, FL

BeachREIA.TampaREIA.com

Let me share some very importantfacts that unless you do somethingFAST could cost you everything

youve worked hard for. Statistics show

Fact: Every year at least 7,000,000 (sevenmillion) Slip-and-Fall Civil lawsuits areled throughout this country costingmillions of dollars. That means that at thevery least 14,000,000 (fourteen million)people and their families will be party tothose lawsuits that 85% to 95% are settledout of court. Most of these are nuisancesuits generated just to get money.

I dont want you to be the next victim?Why would you want to needlessly exposeyour real estate assets when you dontneed to jeopardize your nancial future?Forget about time, stress and anxietyyou and your family will experience justbecause you are named in a lawsuit. Evenif you arent guilty of doing anythingwrong it can ruin your life. When you aresued it costs you time, personal grief andattorneys fees, and possibly thousandsof dollars regardless of the outcome ofthe case. This doesnt sound like a goodformula for accumulating wealth to me

wasting money defending you fromthose unscrupulous people and theircontingency fee lawyers.

The good news, there is a solution that

will help you better protect the real estateassets you have and the ones you acquirein the future and it wont cost you afortune or give you stress in your life. Ivewatched investors lose part and others allof what they had accumulated from yearsof hard work just because they had theappearance of having money.

In my fathers day, people were proud ofwhat they had and wanted the world toknow how successful they were, but that

was then and today its a totally differentstory. Today it isnt a good idea to showany signs of afuence or someone will tryto take away your wealth using the courtsystem instead of working for what theyget. Suing people has become the newway to achieve nancial freedom in theshortest time and easiest way possible.

The worst part of this problem is, younever know when someone is beingoffended by you or when they get hurt on

one of your properties. It can happen atany time and you probably wont knowwhen it happens until a lawsuit has beenled against you.

So whats the solution to this problem oris there a solution? Its not a matter of iyou will be involved in a nuisance lawsuitof some kind its a matter of when. Thething I have learned over my 33 plusyear real estate investing career is to beprepared before a lawsuit happens to youDont wait until later then try to protectyourself after you have been served courtpapers. That doesnt work. The time toprotect your real estate assets is NOWnot tomorrow when it may be too late.

The good part of the problem is, you canmake it not only difcult to nd whoowns any property you can also makethat process for the person suing veryvery costly, forcing them to quickly tohave a conversation with their checkbookand ask themselves, how mad am I? Howmuch am I willing to spend trying to getmoney I dont really deserve when the

Warning: To AnyoneWho Owns Real EstateBy Larry Harbolt

CReATIve FInAnCInG Is kInG

WARNING: I You Own Any Properties In Your Own Name Statistics Show You Have A Huge

Target On Your Back And A Damaging Lawsuit Is Just Around The Corner I You Dont Do

Something FAST To Prevent This From Happening To You!

continued on page 13

ComeaskLarryyourquestionsaboutLandTrustsonJune13thatTampaREIA!
http://beachreia.tampareia.com/http://beachreia.tampareia.com/http://beachreia.tampareia.com/http://beachreia.tampareia.com/http://beachreia.tampareia.com/http://beachreia.tampareia.com/





We get the question quite of-ten about how you can starta real estate wholesaling

business when you already have a 9 to 5JOB or any JOB for that matter. Nat-urally one of the biggest excuses peoplehave about NOT getting into real estateis that they dont have the time. Mostpeople do have jobs and then they alsohave family duties to take care of on top

of that.

But the fact of the matter is that we aspeople dont really want to break out ofour comfort zones or work more or workharder if we dont have to. We mightbe OK with our normal routine of getup, get ready for work, go to work, comehome, eat dinner, watch TV, go to bed do it all over again the next day. Week-ends are for relaxing and house chores.Thats the routine weve always had andwe are getting by. Maybe we are gettingby, but are we getting what we want outof life, and are we on the road to nan-cial freedom? Probably not. So we mayneed to change some things.

Its completely feasible to begin yourreal estate wholesaling business working10-20 hours a week. We had full time9 to 5 jobs when we started our whole-saling business. So how do you nd thetime? Well there are always things youcan cut out of your life as well as ways tocreate more hours in the day. A coupleof easy ones to pick out are watching TV

and mindless internet surng (includingFacebook). We were as guilty as anyoneelse before we started with this but werepretty sure you can cut out an hour aday of TV or web surng to dedicate toyour business. Another one is wake upan hour earlier to work on things youcould also work an hour later at night whatever works best for you. Then thereare weekends. Of course we dont wantto give up our weekends, but were sureyou can nd 4-6 hours over the weekend

to do some work on your business, whichis getting motivated seller leads, gettingthem under contract, and getting themclosed. Getting the leads is the most im-portant thing to be doing.

Here are some of the typical things youcan do to get started:

1. Drive for Dollars on weekends andafter work drive neighborhoodsand look for vacant or distressedhouses or For Sale By Owner signs.Record those addresses into ourphone voice recorder.

2. Look up the property info in theCounty Property Appraiser site andget the owners mailing address.

3. Write Yellow Letters to the own-ers telling them we were interestedin buying their house.

4. Set up a Google Voice voicemail

system for people to call into andrecord their info.

5. If you have money, but no time youcan buy lists, you can also pay directmail companies to mail for you.

6. If you have appointments withsellers, you can schedule them onnights, weekends, or lunch breaks.Same thing for calling sellers backwhen they leave you messages.

7. If you want to do Bandit Signs

you can order them pre-written, ordo them yourselves. Put them outvery early on Saturday mornings.

8. If you want to build websites foryour business to attract sellers( webuy houses.com type sites) to getleads off of the internet that takesminimal time once you have it upand running.

9. Go to weekly REIA Meetings orReal Estate Meetups to meet other

investors, learn, and build a buyerslist. We know this can be hard, buit is important.

10. Listen to audio-books and podcastsabout Real Estate, Marketing, SalesNegotiation, Self Improvement onyour way to and from work andwhen you are driving for dollarsThis will speed up your education

and keep you motivated. Cut outmindless radio.

All of these things can be done on mornings, nights, and weekends and we arecondent you can carve out an hour aday during the week and another fewmore hours on the weekends to do thesethings and get leads coming in and get-ting deals closed. Keep up your education, keep networking, and keep busyand things will start to fall into placeand then the business starts to get easierBut you gotta get going 1st. You don

have to get it perfect; you just have toget it going. Good luck and feel free toreach out if you have any questions.


Matt Larsen813-838-0171

[email protected]

www.MrAndMrsQuickFlip.com

Matt Larsen started buying and sellingreal estate in October 2012. In the lastew months, he and his wie Courtneyhave done over 25 wholesale deals

with no prior real estate investing experience,very little cash and none o their own credit. Nowthey are both ull time real estate investors, workon their own schedule and report only to eachother.

Wholesale Houses AroundYour 9 to 5 JOB

By Matt Larsen

QuICk FlIP FoR FAsT CAsH





Years ago I learned appraisersand other property valuationfolks use three methods to build

a value for a piece of property. The salescomparable or market approach basi-cally look at what comparable proper-ties sell for, the cost approach looks atwhat it would cost to build the property,and the income approach considers the

value of the income stream that a prop-erty generates or could generate. Eachof these methods has a different use anddifferent type of property for which it ismost appropriate. Let me share a littlemore detail before giving a slightly dif-ferent investor focused concept.

Comparable Sales Approach

In the comparable sales approach,a value is created by looking at whatsimilar properties in a similar markethave sold for. Your REIAComps.comMembership is very useful here. For ex-ample, if three similar three-bedroomhomes sold in the same neighborhoodin a range of $75,000 to $85,000, itsreasonable to assume that a compa-rable property would also sell in thatrange. The appraiser would choose aspecic value by adjusting each compfor the unique characteristics of theproperty that they are analyzing. Youcan get assistance performing this same

comparable analysis by using the Val-uation Support Desk through yourREIAComps.com Membership.

Cost Approach

The cost approach values propertieson the basis of what it would cost tobuild them today. The valuation startsby estimating the cost for labor andmaterials to either build a comparable

replacement building or to completelyreproduce the building, depending onthe scope of the analysis. Next, the ap-praiser subtracts out an estimate of thebuildings loss of value due to deprecia-tion since the building being analyzedis probably not in the same condition asa newly constructed property.

Income Approach

The income approach values propertiesbased on the income that they couldpossibly produce. Typically, the analy-sis starts with calculating a net operat-ing income for the property that takesits rent and its operating expenses intoaccount. Next, the investor conduct-ing the analysis chooses a capitalizationrate, which is an income multiplier.The cap rate is usually derived fromcomparable sales data. The price getscalculated by dividing the NOI by thecap rate. For example, if a property hasa $40,000 NOI and comparable build-ings trade at a 7 percent cap rate, itwould be worth $571,428. The pricecomes from dividing the propertys$40,000 income by 0.07, which is themarket cap rate. If the market cap ratewas 8 percent, the property would beworth $500,000 (50000 / 0.08).

Choosing an Approach

Each approach has different uses.The income approach typically getsused for rental and income producingproperties like duplexes up to eightbedroom apartments. Most cost ap-proach analyses are done with newlyconstructed properties because there isless depreciation to calculate. Uniqueproperties for which it is hard to findcomparable properties, like specialized

vacation properties or industrial buildings, are also good candidates for thecost approach. The sale comparableapproach is typically used for proper-ties like single family residences wheremany comparable sales from which tochoose exist.

Now the real fruit on the tree is you

always want to calculate two numbersThe acquisition value as well as the af-ter repair value (ARV). As investorswe want to have a solid idea of not justthe value of a dwelling. Because weare proactive in our business acumenthinking of the next individual in thetransaction, it is vital to demonstratethere is an equity position for the buyer. Use your REIAComps.com accounto determine the best acquisition andARV every deal you look at. Dont forone moment let someone tell you thevalue. Let REIAComps.com show youfor yourself.


What Values Do You Need ToKnow When Investing?By Mark Jackson

APPRAIseR seCReTs FoR ReAl esTATe InvesToRs

Mark Jackson678-318-1773 Ext 5

[email protected]

www.REIAComps.com

Mark Jackson is an appraiser,real estate investor and propertyvaluation specialist who teachesothers to get more out o their realestate investing business. In 1999,

Mark ounded an appraisal company and soonound his true git was analyzing property valuesor real estate investors. Since 2000, has closedmillions o dollars worth o his own domesticand international real estate transactions. Markspassions are: aith, amily, gol and real estate.
http://reiacomps.com/http://reiacomps.com/http://reiacomps.com/http://reiacomps.com/http://reiacomps.com/http://reiacomps.com/http://reiacomps.com/http://reiacomps.com/





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It is impossible to outline a single setof guidelines for due diligence, buthere is a basic checklist, in no par-

ticular order, to begin your due diligencewith a deal presented by another investor(referred to as offeror here). No moneyor commitment should change handsuntil you have satised at least this pre-liminary checklist. After all, you spenta signicant period of time making yourhard-earned money; dont throw it away

in 30 minutes. Unfortunately, this hap-pens all too often. In many cases withexperienced investors who should knowbetter.Every business that seeks to growand achieve success has a detailed busi-ness plan. Any real estate entrepreneurthat expects cash ow and asset growthin any reasonable time period should havea detailed plan as well.

1. How well do you know the personoffering you the deal? What is their

reputation? Get names of other in-vestors the offeror has done businesswith and talk to those along withother investors you know about theirexperiences or knowledge of this per-son. If you dont know those inves-tors, nd out about them as well.Put more stock in the experiences ofthose investors who have been deal-ing with the offeror for years ratherthan a short period of time and havedone several completed deals withthem. What were their deals? Did

they work out as expected? Did theycheck out what the offeror said? Didthey receive the proper paperwork?Dont rely solely on offerors refer-ences. A recent study showed that

40% to 60% of resumes have falsereferences. You need to have inde-pendent references as well. For ex-ample, check with the president of aREIA local to where the offeror lives.Ask others in investment groups orclasses where you met the offeror ifthey know him and his ethics. Youcant get too many references.

2. Ask the offeror about their experi-

ence and history. Ask what youwill nd if you run a credit-check orbackground check. You ask tenantsand borrowers for this information,why wouldnt you with someonewith whom you are thinking aboutinvesting. Then run their credit, civiland criminal background checks. Ionce did due diligence on a fellow

where everything checked out untiI ran a background check for $40 tond he was in bankruptcy. Checkthe Secretary of States website forany entities the offeror may controor be associated. Then Google searchthose entities as well. What do yound?

3. Google the offeror. No kidding. La-dies are searching the Internet for

background information on blinddates or someone they just met. Youshould search anyone you think youare considering investing your hard-earned money with as well. You maybe surprised by a Better Business Bu-reau rating or a newspaper article ontheir business ethics.

Due Diligence on a PotentialDeal or PartnerBy Dyches Boddiford

AsseTs 101
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11/28





When writing killer copy foran ad, there are several com-ponents that need to be ad-

dressed. The rst of these is to grab thereaders attention. If you dont get thereaders attention immediately, you willlose them. You need to remember thatthe average person is bombarded withhundreds of advertising pieces per day andyours needs to stand out. The second com-

ponent is you have to raise their interest. Isthe ad going to be something of interest tothem? Does it spell out what you can dofor them? The third component to a killerad is desire. This is where you list provenbenets to your seller. And the fourth com-ponent to a killer ad is a call to action. Youhave to tell your seller what you want themto do or they wont do anything. So letsaddress these components one at a time.

The key component for writing any ad to

attract motivated sellers is to begin with akiller headline. This headline has to answerthe big question whats in it for me? Us-ing a really great headline can mean thedifference between your success or fail-ure at attracting motivated sellers usingads. Your headline is the very rst thinga prospect sees when looking at your ad,or while scanning a page of ads, so it mustdeliver a clear and understandable messagethat makes your seller want to know more.You only have a fraction of a second tograb their attention so your headline needs

to be strong and benet driven or youvelost this prospect forever.

On the average ve times more peoplewill read just the headline as opposed tothe copy, so your headline has to drawthe reader in and make them want toread more. No matter how good your adcopy is, if you dont have a headline thatdraws their attention immediately, youllquickly lose their interest. Your headlinehas to grab their attention and say, Hey,

Im talking to you!! It doesnt matter howgood you are at helping sellers if the sellersdont know it.

For example, a headline we see a lot in realestate investor ads is We Buy Houses.This headline has been used for ages, butyou have to admit, its not benet drivenand its become rather clich if you ask me.Additionally, its all about you, the inves-

tor, instead of the prospect whose atten-tion you are trying to get. Your headlineshould not speak in generalities; it needs tobe very specic. I personally use a differentheadline in my ads. In fact, in a classiedad, it becomes the whole ad. It is:

Sell your house or a airprice, on the date o yourchoice, without doing any

repairs

Thats it, thats the whole headline and insome cases, the whole ad. It tells the readerexactly what they want to know which isWhat can you do for me? This headlineis all about the seller and lets them knowexactly what you can do for them. It sendsa strong, benet driven message that theycant miss, which is; that they can sell theirhome for a fair price, on the date theychoose, without having to do any x up tothe property. This ad addresses every con-cern a seller may have. My headline standsout like a beacon among all the other ads

that surround it because it sends a distinctmessage to potential sellers. It makesthem want to read the rest of the story,which signicantly increases the responserate to the ad. Another sample of a killerheadline would be:

I Can Pay Your Price i YouSell on My Terms

Getting the seller to read the rest of yourad and respond to it is the whole purpose

behind a great headline. When writingheadlines for your ads, you need to testnew headlines to see which ones bringthe best response. Sit down with a pieceof paper and write several headlines, themore you think and write, the clearer yourintent will become and the more practiceyou will get at writing grabber headlinesWhen writing a headline, make sure youuse capital letters and lower case letters in-

stead of using all capitals. It makes it mucheasier for your prospect to read and under-stand your headline.

Using quotation marks has also been testedand found to signicantly increase reader-ship as well. I always say that you should dothat which your competition will not to getahead in your business and creating killerads is one main way for you to do just thatThe most critical impact your headlineneeds to have is to make the reader wantto continue reading, whether its an ad, anarticle, an advertorial or a special report.

Now lets talk about the second importantcomponent which is grabbing their interest; the whats in it for me? This portionsets the stage for the rest of the copy in yourad. Each sentence should make the readerwant to read the next one and so on. Keep-ing your readers attention and conveyingyour message in a way they can understandand respond to in every advertising pieceyou create is the key ingredient to nding

all the motivated sellers you will need foryour real estate business. Just learning thisone concept for attracting motivated sellerscan make you rich. You need to give youseller a reason to keep reading.

Moving on to the third important compo-nent in writing a killer ad is the desireThis is where you might use bullets for ex-ample to provide a full list of stated andproven benets to the seller. This is where

continued on p21

MARkeTInG MAGIC TRICks

Write Killer Ads to AttractMotivated Sellers in DrovesBy Kathy Kennebrook, The Marketing Magic Lady





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process isnt going to be very easy. Whenthe suing partys attorney is nding itextremely difcult to nd the name ofthe actual owner (the Beneciary) of aproperty, the attorneys clock keeps onticking and the person suing is being

charged more and more as the hours goby with little success, in my opinion thatis Real Justice.

How would you like to learn how to becompletely legal at confusing almostany adversary who is suing you simplyby making it difcult to easily nd whothe real owner of any property is? Thatis what this article is all about. Beingperfectly legal, yet extremely expensiveto pursue, is my goal. If someone wantsto sue you, let them pay a hefty price!

Let me show you how it doesnt getmuch better than that.

The real secret that will allow you tocreate this expensive guessing gamefor any trip-and-fall person and theircontingency fee attorney, its called theLand Trust. Its not a good idea toown any property in your own name.

Own each of your properties so yourname never appears in public recordswhere the people who sue for a livingcan easily nd everything you own andalso approximately how much equityyou have in each property. Because all ofyour properties are not in your personal

name it will be extremely difcult andcostly to nd out whom the owner(the Beneciary) really is without anexpensive search and a court case.

My goal is to make the task of suingyou more difcult just because someonemay assume you own a particularproperty and very, very costly and timeconsuming with no end in sight. IfIve learned one thing every real estateinvestor needs to know it is; OwnNothing, Control Everything and the

land trust will allow you to do just that!My best advice I can give you is ownall of your properties in separate landtrusts and BE PREPARED before anuisance lawsuit strikes you!

Join me for more about this fascinatingsubject on June 15 17, 2013 in TampaFlorida when I will be doing my next 3

day Land Trust Boot Camp. For moreinformation call me at 727-420-4810 oremail me at [email protected].

Larry

Comment on this article online at

http://tampareia.com/?p=2195

Larry Harbolt727-420-4810

[email protected]

www.LarryHarbolt.com

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www.Twitter.com/LarryHarbolt

Larry Harbolt is the nations leadingcreative Seller Financing expert aswell as a popular national real estatespeaker and teacher whose time-

tested strategies and nuts and bolts teachingstyle has helped thousands o aspiring real estateentrepreneurs realize their nancial dreamswith little or no money and without the needor credit. Larry has been successul creativelybuying and selling real estate or over 30 yearsand has written numerous popular articles andreal estate courses. Larry also has been running ameetup group in St Petersburg, FL or real estateinvestors or over 13 years.

http://www.wecanbuyfast.com/





It amazes me how some people, mostin fact, who have the same amountof hours in a day, get so little done.

Ive always had a hard time understandingwhy people intentionally waste time andlive an unproductive life. Most people arejust hanging around waiting to die. Everyday is the same, more or less, and a wholelifetime is spent doing or accomplishingnot one darn thing worth remembering.

Not me brother. The older I get themore valuable each of those days be-comes and Im fully aware none of us aregetting out of this life alive.

If youre reading this, I hope youre notone of those folks Ive just described, butI bet you could make a list of those whoare. Some will have your last name per-haps. If you get this weeks lesson, youpaid for it, which by itself tells me youre

looking for a more active and productivelifestyle. Kudos on that decision.

Its hard for me to understand whysome people cant get one productivething done in a whole day. Personally,Id rather be snowed under than bored.Never could understand how people canlay on a beach all day and do nothing.Not me bubba!

Okay, Ron, whats the secret to getting somuch done? Are you superman? Nope!

Not even close. Im a 65 year old, over-weight auto-mechanic. Im no genius. Ibarely got out of high school, no college,just 45 years of working for myself andmaking the same stupid mistakes I seepeople make everywhere I look.

There are denitely a few keys to pro-ductivity, but Ill address only those thatare so critical to me and my ability to getmore done than most any ten people Iknow combined.

1. Clarity You cant get it done if youdont know what it is. You must beclear on the objective and make surethose responsible are clear as well.This can only be done if its in writingand signed off by all parties. If itsnot, its your fault, not theirs.

2. Good People If you try to do every-thing, you wont do anything well. It

takes people to succeed whither theyare employers or vendors or partnersor contractors. The people you chooseto surround yourself with are an ex-tension of you. If their idiots, so areyou. If theyre sharp and can thinkand act, they make you look sharp.I get credit for a lot of stuff I didntdo, much of which I couldnt do. Ofcourse, when things go wrong, I alsoget the blame. Therefore, I choosepeople who succeed more than fail

and quickly replace them when Imwrong, just as Ive done at Global.

Its the people at Global who makeit easy for me to step in and movequickly. Theyre sharp folks withmore ability than they use. Im sim-ply letting them use it, which leadsme to my next and probably most im-portant key.

3. Delegation I have greasy shoulders somonkeys cant land on my back. The

only tasks I handle are those that cantbe handled by others. Im a delega-tion fanatic. My PA, Tish, is one thereceiving end of an avalanche of paper-work and assignments that never end.She delegates some and handles someand does it very well. She has learnednot to let things pile up or shell nevercatch up when Im doing the shoveling.

All the tasks at Global have been del-egated to staff members who know

theyll be held accountable because Ima guy with a planner who writes thingsdown and doesnt trust his memory. II did Id be like most peoplean unorganized bumbling idiot going in circlesand making excuses for my failuresdue to busy time management. Thisbrings up the next key.

4. Follow up This is huge and grossly

under-valued by most people in business. Its common for leaders to dishout assignments and assume they getdone. Its uncommon for leaders tobe organized enough to follow upand make sure they got done. Thicant be accomplished without a sys-tem where the tasks are recorded andtime activated to check on lateri.e. the planner, which I teach atBusiness Management boot camp

No follow up strains or kills relationships and business deals. I cant telyou how many people I deal with(briey) who cant follow up. Itseems to be a lost art. A few yearsago, a New York company prom-ised to be our leverage partner formy fund to make commercial loansSeveral conversations and a trip toNY got a contract done. Then I sentthem a test loan to process on oneof my projects which they promisedto close by year end, six weeks away

The sixth week came and no closingAfter chasing them to reach a humanbeing to talk with, they promised toclose it the next week, a week lateDuring the entire week, I receivednot one phone call, fax or email fromtheir ofce.

I learned what I needed to knowGood thing, I put them on the DU-FUS test, which they failed. Theilack of follow up cost them millions

Get-Er-DoneBy Ron LeGrand

THe MIllIonAIRe MAkeR


15/282013 Tampa REIA, LLC. All Rights Reserved. Reprint not permitted without written permission from publisher.

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in future revenue and a relationship witha guy who has over 250,000 custom-ers. Pretty stupid if you ask me, but tothis date, Ive still received no apology.

I assume everyone is lying to me aboutwhat theyll do until its done. I dont

trust anyone to do what they say be-cause most dont. Thats one of thethings employees in their past lives whobecame entrepreneurs struggle withearly into their businesses. They cantbelieve people to do what they say.Dont be one of them and do what yousay when you say it. If you do, youllhave no trouble attracting good peopleto work with because youve becomethe exception, not the rule.

5. Multi-tasking You can only do a lot

of things at once, if youre not doingall of them. Thats why you need del-egation, good people and follow up.I always have a lot going on and yetIm not forced to do anything on anyday I choose not to work, except myteaching days. Its fun to keep a lotof balls in the air and it spreads your

risk in case one of them hits you inthe nose.

I have enough projects working to sup-port my family the rest of my life, mykids lives, and their kids lives and be-yond. Any one of them could get me

through life easily. Im not so active be-cause of the money, although it helps.Its the thrill of the chase. Its the gamethat keeps me going, just as it does forTrump, Turner, Gates and most richpeople you know.

Juggling a lot of balls keeps the gameexciting and doesnt hurt to build wealtheitherBut, it starts with the activityto Get-er-done. The last thing youneed is more projects if you cant evenget one done. Think about why youre

struggling. Fix the real problem untilit becomes easy to move quickly andyoure able to nd good people and keepthem. Delegate well, manage your timeand develop a follow up system. Thenand only then can you become a hardcharger whos going for the gusto andaccomplishing more than any ten people

you know.

GET-ER-DONE!


Ron LeGrand800-567-6128

www.RonLeGrand.com

www.Facebook.com/GlobalPublishing

Ron LeGrand is the worlds leading

expert in residential quick turnreal estate and a prominentcommercial property developer.Ron has bought and sold over

2,000 single amily homes over the past30 years, and currently owns commercialdevelopments in nine states rangingrom retail, oce, warehouse, residentialsubdivisions and resorts.

advertise YurBusiess iThe prt

I yu re redy t get strted, see ur advertisig Rtes i this issue d

the cll Christie Grif t 813-358-8050 r eil [email protected].

Tampa Real Estate Investors Alliance

I youre looking to reach the Real Estate Industry here in the Tampa Bay Area and throughout Florida, you

cant do better than The PROFIT. Your ad will reach more than 5,000 each month with your message. Our

production teams are among some o the best designers in the country. We make you look GOOD!
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Sticker shock. I dont know about you,but Im feeling it these days. In thedoctors ofce, at my kids college,

and at the grocery store.

Business expenses are going up, too. Haveyou priced Microsoft Ofce Pro lately?Ouch! But it would be almost impos-

sible to run a business these days withoutit. Sooner or later, youre going to have tocough up the bucks to get it.

Or are you?

Maybe not, thanks to something calledopen source.

What the heck is open source? Its soft-ware thats created and improved by any-one who wants to pitch in, and its free foranyone who wants to use it. This is verydifferent from the usual corporate model,where software is written in secret with lotsof copyright lawyers hanging around thewater cooler.

Open source is kind of a philosophy. Theidea is that when youve got a talent poolmade of the entire human race, instead ofjust a limited number of in-house profes-sionals, innovations come more quickly,and bugs are eliminated faster. Everyonecan contribute, and everyone can use it free,

for any purpose.

Probably the best known open source proj-ect is Wikipedia. Its a great place to lookfor general information about a topic, al-though its a good idea to verify Wikipediainformation with another resource.

You might think that open source pro-grams would be hopelessly rinky-dink,and stripped to the bone of any usefulfeatures. You get what you pay for, right?

But these versions are surprisingly sophis-ticated and robust.

So how do you nd open source programs?Its easier than you might think. If theresa software product thats got you drooling,just Google it to nd other alternatives.Heres how: Type open source and the

name of the program you want. For majorsoftware products, information about anopen source alternative should pop right up.

For example, if you Google Microsoft Of-ce and open source, youll nd a PCWorldarticle that lists ve decent free alter-natives; the best known is probably ApacheOpenOfce (www.openofce.org). If youGoogle Photoshop, youll nd GIMP(www.gimp.org). GIMP is free, too.

Some cautionary notes, though, before youtoss your Microsoft Ofce back-up disk inthe replace.

First, be sure you get the software from asource you trust such as www.cnet.com.And dont venture into cyberspace withoutsome good virus protection!

Second, make sure the program will saveles in a format you can use. The good oneswill, but it may not be the default. For ex-ample, OpenOfce can save your le as a

Word document, but only if you tell it to.This is essential if you want to share yourles with others.

Third, check the license agreement to besure youre using the software legally. Dothis especially if youre a computer expertand you want to change or add to the code.

Fourth, read some reviews. Youll get in-valuable information, and sometimes youllnd out about a product thats even better.

Finally, experiment before you limit your-self to any one program. Make sure youvegot a good feel for how it works. For exam-ple, does your OpenOfce document for-mat properly when you open it in Word?Is there useful help and support online? Isthe open source product missing any im-portant features?

Many people have found open source prod-ucts they love so much they dont need topurchase the name-brand at all. Its worthchecking out even if you still wind up get-ting the name-brand product. You neverknow when youll need a back-up.

And after all, some of the best things in lifereally are free.


Don [email protected]

www.MobileRealEstateRockstar.com/Atlanta-REIA

www.Facebook.com/Don.DeRosa

www.Twitter.com/DonDeRosa

Don DeRosa was recognized asone o the nations top 21 realestate investors in the New York

Times bestseller The MillionaireReal Estate Investor. Don, whois a ull-time investor, trainer,

and mentor, is the rst to ofer his completeinvesting system on a mobile platorm. Donteaches investors how to Make More and WorkLess by being more ecient, productive andcompetitive, leveraging mobile technology andapps on the iPad, iPhone, Android and othermobile devices.

THeRes An APP FoR THAT

Open Source Apps:Cheap Can Be Great!By Don DeRosa

Without a sense of teamwork I think its really hard to build a great business.~ Martha Steward





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Helping Sellers Survive theForeclosure Roller Coaster RideBy Kimberlee Frank

FoReClosuRes Gone wIld

Going through a Foreclosure ac-tion and losing your home is avery stressful situation for any-

one. Until you walk in those shoes your-self, its hard for an Investor or Realtorto understand what a Seller is facing intheir day to day life. I would like to sharehow a Seller feels during this process sothat you can really begin to understandthe Sellers experience. It IS a scary rollercoaster ride and you can help deter them

from crashing and burning at the end!

Owning a home has always been theAmerican Dream. Sellers become veryemotionally attached to that dreamhome. They work their tails off, saveas much money as they can, and makethe big purchase. Unfortunately, the ad-justable rate mortgage was introducedto our economy which allowed Sellers topurchase the home of their dreams withlittle money down, interest only pay-

ments with the Sellers knowing that in3 to 5 years they will have to renancetheir home to a xed 30 year mortgagein order to keep it. When the housingmarket crashed, it affected everyonedrastically.

Many people found themselves withouta job ie. realtors, mortgage brokers, de-velopers, contractors and many morepeople in different occupations. Can youimage if you had a 700+ credit scoreand then suddenly you werent able to

make your payments on your home, car,credit cards, and purchase food or cloth-ing for your family? This is such a hum-bling experience that many Sellers dontsurvive. Everything they have workedfor their entire life is gone! This situa-tion has crushed many dreams and is stilloccurring daily.

First off, the Seller should not havepurchased a home with an adjustable

mortgage rate and counted on theeconomy to increase the equity in thehome enough to be able to re-nance.However, with the persuasion of themortgage broker, spouse, friends andmaybe family, the Seller thought Itwill be alright I can do this! Now thateverything is crumbling down aroundthe Seller, their pride is stopping themfrom taking the correct step and doinga short sale. The Seller receives multipletelephone calls a day from a debt col-

lector whether it is for the mortgagepayment, car payment, credit card pay-ment, etc. The Seller (male) is startingto have family issues as it was his job toearn income to support the family. ASeller (female) may also be in the sameposition as in this economy it takes twoincomes to raise a family, send theirkids to college and to pay all the bills.

Many Sellers lose faith in their religionas they dont know who else to blame forthe fact that they are losing their home.

In reality, it is the economys fault andno one else to take the blame. Its justlife. This is hard for Sellers to realize. Inaddition, Sellers start having health issues, they argue more often, drink morekick the dog, beat the kids and their safeand stable family life turns into CHAOSThis is nothing to scoff at, laugh aboutor take lightly. Foreclosure destroysfamilies and lives. Many Sellers end upin divorce, kids start failing in school

or they totally move out. The familyquits going to church. The family unitand the individuals literally fall apartSellers need our help to understand theentire short sale process and how it cantruly benet them..especially the factthat it is FREE, and they are in controof their destiny versus walking away orstaying in the house and still letting it goto foreclosure.

When you contact Sellers, you need to

be aware that they are expecting some-one who wants money from them. Theyare barely scraping by and now we saywe want to buy their home. Where wilthey go? You need to remember thathese Sellers are on a roller coaster ridefrom heck and dont know how to getoff or arent even sure that they want offbecause they are not informed about alof their options.

I always teach that you, the Investor orRealtor, will have to help the Sellers un-
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continued on p18

derstand the process, meet with them acouple of times and, more than likely,will have to counsel them during theirstressful situation. I like to set their ex-pectation right from the beginning whichis doing a short sale allows you to controlthe banks outcome. What I mean bythat is in my contract it states This offer

is subject to the underlying lenders takinga discount acceptable to the Sellers andthe Buyers. This way, if at the end ofthe short sale, the short sale lender wantsmoney from the Sellers or the deciencyjudgment is not waived, the Sellers canback out of the deal! And by the way, ifyouve taken my course, your Sellers willnot pay any money and their deciencyjudgments should be waived. This alonemakes a Seller feel warm and fuzzy andin full control. As for you, well, this state-ment may not make you feel warm and

fuzzy. I only work on transactions thatwill be a win for the Seller, win for thebuyer, win for the bank, and win for theRealtor. Using this motto will help youexcel in your business. I provide excellentservice and teach my student to do thesame; therefore, we all have high referralrates and you should, too!

So, the next time you are dealing with aSeller who still owes you paperwork inorder to do the short sale, please recall

this article and remember what kind ofday are they going through. How canyou help them provide what is needed toprocess the short sale? Is it, I will cometo your house and we do it together?Should I email it to you and do you haveenough ink in your printer to print it outor should I overnight it to you with a re-turn label self addressed and paid? Weare here to provide a serviceso pro-vide an excellent service to them. I pro-vide excellent service; therefore, I have anexcellent referral rate.

I know as an Investor and Realtor it isa struggle to deal with Sellers and shortsales. However, if you are willing to dowhat it takes to get the deal done by trulyhelping the Sellers, then you will not onlymake money, you will also help a Sellerfrom owing a deciency judgment for 25years and maybe help stabilize their fam-

ily again. The Banks are going to go afterthese Sellers and we must approach thiswith a mindset that enough is enough!Help the Seller out and explain the shortsale process and remember, they needyou more than you need them. However,without your help and persistence theywould not have made it through this uglytime. Feel proud of helping the Sellers re-build their world, save their family andmove on with the next chapter in theirlife. I am proud of you!!!

Happy Negotiating!

Kimberlee Frank


Kimberlee Frank407-888-3255

[email protected]

www.ForeclosuresGoneWild.comwww.Facebook.com/ForeclosuresGoneWild

www.Linkedin.com/in/KimberleeFrank

www.Twitter.com/KimberleeFrank

Kimberlee Frank is a MasterNegotiator who has closed over600 deals since 1998. She is aMentor, Trainer, Author and RealEstate Broker teaching Investors

and Realtors how to creatively purchase andsell short sales with her Step-by-Step System.She has helped Investors and Realtors earnhundreds o thousands o dollars.

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There are innumerable issues thatcan be caught in a forensic auditand used to argue either that a title

is clouded or a foreclosure proceeding isimproper. Heres a list of nine commonproblems that may lead to a positive out-come for a homeowner doing legal battlewith a lender or servicer:

1. An individual purporting to be an of-cer of one lender or servicer shows

up as the ofcer of several other com-panies at the same time. It is improb-able, if not impossible, for one indi-vidual to simultaneously serve as anofcer of several institutions. Thisis an indication that someone hiredby a document processor was toldto sign thousands of forms per dayfor many different institutions. Suchindividuals are required to swear byvirtue of signing the documents thatthey have personally examined all

documentation and personally knowof the loanagain an impossibility.

2. A name appears on several differentdocuments for the same person but indifferent handwriting. For example,there are many different handwrit-ing samples of the same purportedbank ofcer, Linda Green showingon thousands of different loan andforeclosure documents.

3. Notary stamp on a deed shows a date

that would make that stamp newerthan the date on the note. For exam-ple, a notary stamp dated with expi-ration in 2014 on a 2008 note couldnot possibly have been used in 2008because the stamp could be no morethan 4 years old. The document hadto have been forged, or at least thenotarization was forged.

4. The recording date on a legal docu-ment such as an assignment of

mortgage is stamped long afterthe date of the actual assignment.The recording did not happen in atimely manner.

5. A mortgage assignment shows upas being granted by a company thatwas not in existence at the time ofthe supposed assignment. Watchparticularly assignments from Wash-ington Mutual Bank (WAMU) and

Countrywide because a lot of paper-work disappeared in the purchase ofthese companies and now lenders ap-pear in some cases to be forging lostdocuments to build a paper trail inarrears. This is fraud.

6. Date of assignment shows as afterthe date the foreclosure lawsuit isled listing the assignee as the partyof record. The assignee could notpossibly have standing if they did not

own the note until after the lawsuitbegan.

7. An assignment is made to a companythat was defunct before the assign-ment was made. A defunct com-pany cannot have standing in a suitagainst a homeowner.

8. An assignment is made by a defunctcompany. The assignment is obvi-ously fraudulent because a defunctcompany cannot assign anything.

9. False signatures from notaries. Tes-timony was given by a notary in theLaw Ofces of David J. Stern to in-dicate that notaries in that ofceroutinely passed each others stampsaround and forged signatures. Sternhas since gone out of business for ro-bo-signing irregularities.

As a result of this malfeasance improperassignments were recorded in county

records across the country, improper assignments were submitted and acceptedby the courts and trustees in foreclosurelawsuits, and homeowners in the hundreds of thousands (millions?) were foreclosed upon illegally. The unfortunateupshot of this mess is that a homeownerisks being hit with a second lawsuit bythe real note holder and a second judgment on the same property!

These frauds have opened up a huge opportunity for real estate investors to helpunderwater homeowners AND pick upproperties at large discounts. By investigating the specic circumstances behind underwater homeowners loans, weare discovering blatant fraud that can beused as leverage against the banks in or-der to negotiate huge discounts. This allows investors to free homeowners fromthe burden of dumping money into anunderwater home while doing some in

credible deals.

If you would like more information onthis awesome strategy, give my ofce acall at 706-485-0162!


Nine Tips for Spotting a FraudulentLoan or ForeclosureBy Bob Massey

Bob Massey706-485-0162

[email protected]

www.REWealthCoach.com

www.Facebook.com/BobMasseyOicial

Bob Massey is a recoveringcorporate executive who is nowliving the dream running his ownreal successul estate investingbusiness and teaching others how

to do the same. In the process he has becomethe nations leading educator on the oreclosureinvesting the oreclosure process.





Larry Harbolts WeelyReal Estate Investor Meetup

Every mdy t 7:00Hibachi Buet7610 49th St N, Pinellas Park, FL

JoinUsa

t

ReAl esTATe RAw

Whats the best way to

nd deals?

This is the number one question I getasked by my real estate students. Theanswer is in the title. Most people new

to the real estate business these daysare looking for a magic bullet sys-tem that will bring them all the gooddeals they can handle. Unfortunatelyit doesnt usually work that way.

There is no better way to consistentlyproduce viable real estate deals thanthrough quality relationships withcommercial brokers and agents. Noowner of a commercial property isgoing to go out to the road side andput up a For Sale by Owner signand hope a qualified buyer happensto drive by. They are going to finda great broker and list the propertywith them.

I tell my students You are tryingto buy a property that is not for saleyet. Good deals dont stay on themarket long. If you call an agent andthey have something for sale, chancesare its not a good deal. Your job is to

build a relationship with this agent orbroker so that when a seller walk inthe door with a hot dealyou imme-diately get a call!

The best way for you to get on thisagents short list is to have a good

standing relationship. You need toget this persons attention on the veryfirst time you speak to them. Here aresome tips for quickly building rapportwith commercial agents and brokers.

Be able to answer the one mostimportant question What areyou looking for?

Know exactly what size, price,and type of property you are look-

ing for and how you plan to fundit.

Know your market. Knowing asmuch as you can about your mar-ket (city) and your sub market(3-5 miles around your property)as you can. This will help you tohave an educated conversationabout the markets and the areasyou do and dont want to be in.

Read the listing! Sounds simplebut I have heard so many agentscomplain about people calling upand asking questions about infor-mation that was right in front ofthem on the listing. Do as mucheasy background research as you

can on a property before you calland engage an agent for the firsttime. They spend a lot of timecreating listings full of informa-tion so they dont waste their timeanswering unnecessary questions.Read it!


Working WithBrokers and AgentsBy 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 portolioo nearly 400 units in Macon, GAusing creative and seller nancing.




2013 Tampa REIA, LLC. All Rights Reserved. Reprint not permitted without written permission from publisher.2012 Atlanta REIA, LLC All Rights Reserved. Quotation and reprint are not allowed without written permission of the publisher. http://TampaREIA.com2013 Tampa REIA, LLC. All Rights Reserved. Reprint not permitted without written permission from publisher. http://TampaREIA.com

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you might say something like:

I can take over payments and providedebt relief

I can stop foreclosure and help you re-pair your credit

I can close on the date of your choos-ing so you can close when you need to

I can buy your house in the condi-tion its in so you dont have to doany repairs

You get the idea. This is where you makeyour case and you could even back it upwith testimonials from satised customersif you are doing an advertising piece likean advertorial for example. You can leave

it this short or you could expound on eachpoint if you want. You just need to let youseller know why they should want to sellto you and how you can help them solvetheir problem. After all, thats the wholepoint isnt it? We want to create win-winsolutions for ourselves and our sellers.

And last but not least is the call to ac-tion. What do you want your prospectto do? How do you want them to contactyou? You need to let them know this in

no uncertain terms. If you dont tell yourseller what you want them to do, dont ex-pect them to do anything.

For example, putting your phone num-ber at the end of an ad doesnt tell yourseller what you want them to do, but thewords call me now and then your phonenumber does. If you are writing an ad andyou can give them more than one way tocontact you this is even better. For ex-ample, you could put call me now and

your phone number and then also providethe prospect with a website to look at aswell. Now they have more than one wayto contact you. When you give prospectsmore than one way to contact you, moreof them are going to. You want to makeit as comfortable as possible for sellers to

contact you.

Now that I have covered for you the fourcomponents to writing a killer ad, youhave no excuse but to go out there, runsome ads in your local newspaper andshopper guide following these guidelinesand watch the leads come in. Every ad youwrite, every advertorial or special reportyou write needs to meet these guidelines.

For more information on writing killerads and marketing to nd motivated sell-

ers, visit my website at www.marketing-magiclady.com. While you are there besure and sign up for our monthly news-letter and receive $149.00 in amazingbonuses.


Kathy Kennebrook941-792-5390

[email protected]

www.MarketingMagicLady.com

www.Facebook.com/Kathy.Kennebrook

Kathy Kennebrook is a speaker,author and has been activelyinvesting in real estate since 1999,Kathy currently resides in Bradenton,FL and is known as the Marketing

Magic Lady because she is the countrysleading real estate marketing expert on ndingmotivated sellers using direct mail.
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Lack o Knowledge

Many people make mistakes due to alack of understanding of the governingrules. This article covers two of themost common mistakes. Understandingthese rules can help you grow your self-directed IRA without fear of losing outto avoidable errors.

Violating Once-Per Year IRA-To-IRA Rollover Rule

You have two options when movingassets between your IRAs; one is atransfer and the other is a rollover. Undera transfer, the delivering IRA custodianpays the amount to the receiving IRAcustodian for the benet of your IRA.Transfers can be done for an unlimitedamount of times.Unlike a transfer, a rollovercan only be

done once during a 12-month periodper IRA. Failure to follow this rule willresult in loss of tax-deferred status,which means that the amount wouldbe treated as ordinary income and couldbe subject to the 10% early distributionpenalty if the distribution occurs whileyou are under age 59. The amountcould also be subject to a 6% excise tax ifnot corrected by your tax-ling deadline,plus extensions.

Example: John decided to purchase arental property and moved $100,000from his Traditional IRA #1 to his self-directed Traditional IRA. He requesteda distribution of the amount on January30, 2013 and rolled over the amount onFebruary 10, 2013. John found anotherrental property and consequentlywithdrew an additional $200,000 fromIRA #1 on April 2, 2013 which he rolledover to his self-directed Traditional IRAon April 10, 2013.

Johns Mistake: John should have used

the transfer method for at least one ofthose transactions, because only onedistribution can be rolled over from IRA#1 during a 12-month period.

The Consequences: John

the profit newsletter june 2013 for tampa reia

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