the profit newsletter may 2013 for tampa reia

7/30/2019 The Profit Newsletter May 2013 for Tampa REIA

1/28http://TampaREIA.com

Tampa Real Estate Investors Alliance MAY 2

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

Ihave been attending the REIAsin Pinellas and HillsboroughCounty for the last 5 years. In

that time frame I have heard a lot ofcreative ideas and strategies regardingreal estate transactions in which Iwholeheartedly agree. A lot of thesedeals required no money down or credit.Upon hearing this, I began to think myservices would not be needed as I hadanticipated. But as I listened more and

more, and continued speaking on my4-step Credit Restoration Assistance

Program people became more andmore inquisitive. All it took was for meto help a few people with their creditproblems, and then I was off and ying.Since then I have teamed up with a lotof investors, realtors, mortgage lenders,etc. and have offered them my creditideals and strategies, only to enhanceand compliment their services. I LOVEwhen people are skeptical of my services.I LOVE when they say its illegal or

it doesnt work, or the negative itemswill eventually return, or the mostglaring of them all Ive already hada bad experience with another creditrepair company. Let me make this realclear read my lips I AM NOT ACREDIT REPAIR COMPANY.

Come out and join me at Tampa REIAon May 9th at 6:00PM at the DoubletreeSuites Tampa Bay located at 3050 NorthRocky Point Dr. West in Tampa, FLand hear what my 4-step Credit Resto-

ration Assistance Program entails. I willcover all 4 steps in detail:

MAIN MEETING

Thursday, May 9th6:00pm 9:00pm

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

IN THIS ISSUE

MAY 2013

Credit Restoration ProcedureBy William Crowley..................................................................1

Nine Pillars o SuccessBy Bill Cook ................................................................................3

Increasing Response Rates From Direct Mail CampaignsBy Kathy Kennebrook .............................................................5

Can I Have Your Business Card?By Dustin Grifn .......................................................................6

WRAP Loan TechniqueBy Dyches Boddiord ...............................................................7

About Tampa REIA ...........................................................................8

Flippers Heaven Created by Savvy NegotiatingBy Kimberlee Frank..................................................................9

MERS Takes It on the Chin in Washington StateSupreme Court Case

By Bob Massey .......................................................................10

Commercial Real Estate - The Prot is in the Details!By Jim Hitt...............................................................................11

Deal or No Deal?By Russ Hiner.......................................................................... 12

Discovering an Old FavoriteBy Don DeRosa ...................................................................... 14

What Comes 1st, Finding the Cash or Finding the Deal?By Matt Larsen.......................................................................15

A Fast, Easy, and FREE Way to Fill Your PipelineFull o Deals Part 2

By Tony Pearl ..........................................................................17

Finding Buyers or REO PropertiesBy Mark Jackson ................................................................... 18

My First Real Estate MistakeBy Bill Ham ............................................................................20

Three Good Ways To Find Pretty House Deals, Part 3 o 3By Ron LeGrand .....................................................................21

15 Types o Houses to AvoidBy Larry Harbolt ....................................................................23

Membership Application ...................................................26

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

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

Credit RestorationProcedureBy William Crowley

Come join us at Tampa REIA on Thursday, May 9th at 6:00PM at the

Doubletree Suites Tampa Bay located at 3050 North Rocky Point

Dr. West in Tampa, FL where long time credit restoration expert, William

Crowley, will be our special guest speaker on How Credit Repair Really

Works. See http://tampareia.com or more inormation.

continued on p4

Tampa REIA, LLC

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





ValidUntil:

1/1/2015

MemberNo.

1234

YourName

GoldBusinessMem

ber

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

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

Come join us at Tampa REIA on Thursday, May 9th at 6:00PM at the Doubletree Suites

Tampa Bay located at 3050 North Rocky Point Dr. West in Tampa, FL where long time creditrestoration expert, William Crowley, will be our special guest speaker.

William is an honorably discharged Marine and the owner o Complete Care Financial Services

which has specialized in providing Credit Restoration Assistance to real estate investors, agents

and other real estate proessionals and their clients since 1999.

Ater getting ed up with all the misinormation rom the Credit Reporting Agencies and all the

hype rom so called Credit Repair Companies, William created a powerul, yet simple, proven

4-Step Credit Restoration Formula that you can put to use immediately to start removingnegative items rom your credit reports or those o your clients.

During his presentation, William will teach how to use the Fair Credit Reporting Act to greatly

benet yoursel and your customers by deleting negative entries o their credit report in as littleas 30 days. Negatives such as bankruptcies, tax liens, student loans, late payments, collections,

repossessions, oreclosures, charge os and much, much more.

You will learn:

Williams 4-Step Credit Restoration Formula

How to delete negatives o your credit report and dramatically increase your credit

score or the cost o a postage stamp.

How to get tax liens, student loans, late payments, collections, repossessions, charge-os

and even oreclosures and bankruptcies removed rom your credit reports due to theCredit Reporting Agencies incompetence.

How to use a Cease and Desist Letter to stop harassing calls rom Collection Agencies.

How to use the Fair Credit Reporting Act to your advantage.

How to settle accounts with Collection Agencies the right way.

Any much, much more about Credit Restoration

Come out and join us on May 9th and hear this great news!

Main Monthy Meeting

MEETING AGENDA*6:00 pm

Meet & Greet, Networking

6:30 pm

Introductions, Haves & Wants

7:00 pm

Announcements

7:30 pm

William Crowley onHow Credit Repair Really Works

9:30 pmLate Night Networking

at Whiskey Joes*Please Note: Meeting agenda is subject to change.

How Credit RepairReay WorksWith Wiiam Crowey (AKA The Credit Man)

Doubletree Suites Tampa Bay

3050 North Rocky Point Dr West

Tampa, FL

Bringyourbizcards&fyers

WilliamCrowley

May 9th @ 6pm





Acivic group asked if I would speakto its members about success. Af-ter being in the game for nearly

40 years and achieving much success along with experiencing a ton of failures Ivewhittled my list of attributes needed forsuccess down to nine.

First, lets acknowledge that each personsdenition of success is different. More

importantly, its a mistake to make mydenition your denition. You mustdecide what success means toyou!

Sadly, lots of folks never take the timeor make the effort to write down whatsuccess means to them. This is likegetting in the car to go on vacationwithout having a destination in mind.How will you know if youre on the rightroad, or whether you ever arrived?

Here are my Nine Pillars of Success:Action, Persistence, Sacrice, Belief,Integrity, Associations, Life-longLearning, Loving What You Do andGiving Back. Lets briey look at eachattribute.

The most important pillar is Action.Nothing happens until you do something.Even if you dont know what youredoing, DO SOMETHING! Mistakescan be xed and obstacles overcome. Ifyour goal is to be a successful real estateinvestor, then go meet with some sellerstoday. If your goal is to lose weight,

then begin exercising more and eatinglesstoday. Get at it whatever it is TODAY!

Persistence is number two and goeshand in hand with action. Its one thingto start something, but quite anotherto keep at it. We all make goals; thatsthe easy part. Working day after day toachieve our goals is much, much harder.Nothing takes the place of persistence!My buddy Houston Long pointed out a

critical attribute that I hadnt thoughtof: Sacrice. He said, One thing thatsbeen a huge factor on our journeyto success is SACRIFICE - mentally,physically, emotionally, nancially, andspiritually. You have to be willing tosacrice certain things to attain success:family time, leisure time, spendingon wants and creature comforts, etc.Everything has a price or trade off,

including success.

Belief certainly belongs on this list.You gotta believe! When Kim and Igot into real estate investing, we joinedour local real estate investors group.This gave us the opportunity to meetwith successful been-there-and-done-that investors. Though we knew zeroabout real estate investing, we believedthat if these guys could make it, thenso could we.

Integrity is about treating people right not because the law or a contract saysso, but because your soul says its theright thing to do. Remember: Yourreputation gets to a meeting long beforeyou do!

Associations: Dont waste your timehanging out with negative people. Rarelywill you bring them up and often theyllbring you down! Associate yourself withpositive, like-minded people.

Change is one of lifes constants thecheese is always being moved! Forexample, the way Kim and I investedin real estate in 2009 looks NOTHINGlike what we are doing today. Almosteverything is different. To stay aheadof the game, its critical to realizethat learning doesnt end when we getour sheepskin (for you young folks,this means diploma, not an actualsheepskin). Graduation is just one stepin our life-long journey of learning.

Next: You either need to love whayoure doing or love why youre doingit. We have friends, Joe and AshleyEnglish, who love to sing. For themsinging is always a pleasure. On theother hand, my mother sold Electroluxvacuums door-to-door for 28 years. Inthe beginning she didnt like it but shelovedwhat her commissions did for ourfamily.

The nal pillar is giving back. Its hardto give back be it time, knowledgeor money while youre growing yourbusiness. But once youve achievedsuccess, most folks have an incrediblystrong need to give backto help otherson their journey up. Its a way of tellingGod, Thanks, Im grateful for all thegifts youve given me! (Note: Webelieve in tithing no matter what. Itsnot a case of us giving 10%. Rather ita case of us getting to keep 90%.)

Last thing: Did you notice that geniustalent, social circumstances and luck arenot on this list? Think about that fora bit. When Kim read this paragraphshe said, Its not where you came from

its where youre going thats important.Hope this list helps you build your ownPillars of Success.

Comment on this article online athttp://tampareia.com/?p=2045

Bill Cook727-420-4810

[email protected]

www.REIOutpost.com

Bill Cook is a ull-time real estateinvestor, speaker and author. Hespecializes in single-amily homes andmobile home parks. Bill believes that

real estate investing, especially the act o buyingand holding rental property, is the surest way tonancial independence and wealth. Bill and hiswie Kim run North Georgia REIA where they teachothers how to successully invest in real estate.

Nine Pillars of SuccessBy Bill Cook

REAL WORLD REAL ESTATE INVESTING





1. The rst step is to dispute all nega-tive entries on a Credit Report usingthe Fair Credit Reporting Act andnot those mickey mouse on line dis-putes. Our strategy is based on viola-tion of due process and not whether

the entry is valid or not. Most peoplebelieve in order to dispute an item onyour credit report there must be somecontroversy that they must expose.The burden of proof is on the CreditReporting Agency.

2. The second step is the Federal TradeCommission follow-up letter whichstates that if the Credit ReportingAgency does not respond to your dis-putes within 30 days every item mustbe deleted without further explana-

tion. In order for this to happen theclient must provide proof that theCredit Reporting Agency receivedyour disputes. We encourage clientsto send mail certied to expedite thisprocess.

3. The third step is the Cease and De-sist letter, which goes to the Collec-tion Agencies when a client is beingharassed primarily with intimidatingphone calls. Through this course of ac-

tion the Collection Agencies can makeone additional call to inform the clientof any further action.

4. The fourth step is the Validation ofDebt letter which is submitted to anycollector who demands payment froma client regarding a charged off ac-count. Once it is charged off theclient is relieved of all nancial obli-gations. The Validation of Debt de-

mands that the Collection Agenciesvalidate the debt, in which case if it ischarged off it cannot be validated.*We are also currently working onsuing the Credit Reporting Agenciesfor numerous violations on behalf of

our clients. This step will soon becomeour fth step.

The majority of Credit Repair compa-nies (although we refer to our companyas Credit Restoration Assistance) onlydispute limited negative entries on theirclients credit reports and this to us is in-sufcient without including the additionalsteps that we have provided.

Now lets go more into detail as to howdifferent our Credit Restoration Assistance

Program is in comparison to the tradi-tional Credit Repair Companies. Theyjust dispute negative information on theirclients reports, and never allow them toview or copy the disputes. Our 4-step pro-cess constructs the disputes and then sendsthe disputes to our clients for review andmailing, we also encourage them to makecopies for their records. When the CreditReporting Agency responds (and they onlyrespond to the client) the client immedi-ately forwards the investigation results to

us so we may determine what has been re-solved and what still needs to be addressed.So now we begin the next cycle. The FairCredit Reporting Act consists of about 96pages of consumer laws (disputes), and wecan only use one law at a time. This is whatyou call a complete cycle. We will conductapproximately seven to eight cycles overthe 12 month agreement we have with ourclients. Usually you will get encouragingresults within the rst 30 - 90 days.

Ironically our focus is not the score, buton legally removing as much negative apossible. Your score will be predicated onthe positive versus negative scenario, so thescore will increase based on us removingthe negatives, and your existing positive

accounts. The Validation of Debt procesis the next important step. As we are disputing the negative items, the collectorare simultaneously being contacted, andthey will start calling to settle on accountsNEVER settle, but NEVER ignore themeither. We will submit a Validation oDebt letter in your defense and 90% of thetime you will not hear back from thembecause they know they are operating illegally, they just need you to inform them

To get a more in depth view of how illegal

ly the Credit Reporting Agencies are operating, go to www.60minutesoverviewcom and select the show on how the CrediReporting Agencies are grossly violatingthe Fair Credit Reporting Act The showaired in February of 2013.


continued from page 1

ValidUntil:

1/1/2015

MemberNo.

1234

YourName

GoldBusinessMem

berBecome a Tampa REIA Member TODAY!

http://TampaREIA.com/Membership

William Crowley727-798-3092

[email protected]

www.BadCreditHistoryRepaired.com

William Crowley is an honorablydischarged Marine and the ownero Complete Care Financial Serviceswhich has specialized in providingCredit Restoration Assistance to real

estate investors, agents and other real estateproessionals and their clients since 1999.





Beach REIAMeets 3rd Thursday Each Month at 6PM

at Gators Cae & Saloon located at

12754 Kingfsh Dr, Treasure Island, FL

BeachREIA.TampaREIA.com

MARkETING MAGIc TRIckS

There are several great andeasy way to increase the re-sponse rates you are getting

from your direct mail campaigns. Thehigher response rate you get fromyour mailings the more deals you arelikely to create.

One way to increase the number of re-

sponses you get from your mailings isto use lumpy mail pieces in your enve-lopes to entice your reader to open theenvelope and read your message. Thiscould be a penny which makes noise or itcould be a magnetic business card whichwould add dimension. Lumpy mail isactually dened as anything that addsdimension to an envelope.

It can be in the form of any type of en-closure such as a at pen, or even a pieceof candy or it can be the actual containerin which the mail is delivered. Sta-tistics show that dimensional mailingscan increase response rate by as muchas 80%. There are many items that arelightweight and small that can be addedto your mailings to increase responsewith very minimal expense. Designyour direct mail piece so different thatit demands peoples attention, and getsopened and read.

Because I use a response mechanismwithin the body of my letters (a sectionwithin the body of the letter that allowsthe seller to ll out all the information Ineed) when I send them out, I will some-times use at pens in my mailings so thatthe seller has the tool they need to ll outthe response mechanism right in theirhand. This just removes another step or

another obstacle for the sellers and theywill contact me even sooner.

Here are a couple of tips on lumpy mail;mark your envelopes Hand CancelOnly and whenever possible, use one ofthe smaller satellite postal facilities. Doyour homework before deciding which di-mensional inserts to use depending on thetype of business you have and the budgetyou have. Determine your mailing costsbefore getting started, and I cant empha-

size this one enough,dont mail out more

pieces than you can practically respondto! Believe me when I tell you that thesemailings work. If you cant handle the re-sponses you will get to your mailings, youare wasting marketing dollars.

If there is a particular homeowner we re-ally want to target we will send that per-son a letter in a Priority Mail envelopeor an envelope that looks like Priority

Mail or Express Mail but isnt. You canget these types of mailing envelopes fromcompanies that specialize in promotionamaterials for businesses. I have informa-tion on companies that can provide thesepieces for you on my website at wwwmarketingmagiclady.com.

You also need to provide any seller or

customer multiple ways to contact youto nd out more information abouwhat you do. The more ways you createfor a person to contact you, the more ofthem will because you will be meetingthem at their comfort level. Maybethey want to call you now, maybe theywant to respond directly to some mailing piece you sent them, perhaps theywant to e-mail you photos of the prop-erty along with the information aboutit or maybe they want to go to yourwebsite and check you out rst. Themore ways you give a prospective selleror customer to contact you; the more ofthem are going to and the more dealsyou will potentially do.

And most importantly anytime you aremailing a letter to a prospective seller orcustomer make sure it is hand addressedThis is the best and quickest way to get a

Increasing Response RatesFrom Direct Mail CampaignsBy Kathy Kennebrook, The Marketing Magic Lady

continued on p7
http://beachreia.tampareia.com/http://beachreia.tampareia.com/http://beachreia.tampareia.com/http://beachreia.tampareia.com/http://beachreia.tampareia.com/http://beachreia.tampareia.com/





Do you have a business card? Doyou keep them with you at alltimes since you never know

when or where youre going to meetsomeone important such as a potentialbuyer, seller, joint venture partner orprivate money lender?

It never ceases to amaze me how manyinvestors I meet at seminars, conven-tions or local REIA meetings that I ask

for a card only to be told that they donthave one, havent had them printed yet,or forgot them at home!

Whats almost as bad, is when investorshand me crummy business cards withperforated edges that they printed athome or the ones they were too cheapto pay for that say Business cards areFREE at Vista Print on the back.

Many investors dont realize how impor-

tant business cards can be. They thinkbusiness cards are made for one reasononly to give people the ability to con-tact you at some later date.

Most investors overlook the importanceof having a professional business card thataccurately reects their brand. After all,business cards are often the rst item pros-pects receive from you and are your rstopportunity to make a strong rst impres-sion on them positive OR negative.

Your image, reputation and credibil-ity are everything in this business!

With limited exceptions, its fairly easyto spot an inexpensively produced card. Ifyou choose to go cheap with your busi-ness cards, just make sure you dont lookcheap. If you look cheap, what messagedoes that send to the people with whomyou wish to do business? Are you reallydoing yourself any favors by missing out

on the opportunity to start building apositive, professional image right fromthe start just to save a few bucks?

Cheaper isnt always better when itcomes to rst impressions. Please spenda few extra bucks on some nice, profes-sional looking business cards for im-pressing people of importance.

Yes, you can still buy and use those

cheesy, gimmicky business cards withDay-Glo neon colors or the ones thatlook like folded one hundred dollar billsfor creative marketing purposes, but youshould have a professional card as wellfor giving out to all your VIP contacts.

When designing your business card,think about how you use other peoplesbusiness cards and the impression theircards makes upon you. Do you get frus-trated when you cant quickly nd the

information you need? Do cheaply pro-duced cards make you think less of theperson or company represented? Does ittake you a while to realize whose card itis or what that company does?

If so, dont make those same mistakeswhen designing your business cardMake sure your card provides a posi-tive reection of you, your company andyour brand.

Thoughts to Ponder When Consider-ing Your Business Cards:

1. Does your card clearly state what youdo or why you should be contacted?

2. Is your card easy to read so peoplecan easily nd your contact informa-tion such as your phone, fax, emailwebsite, social networking sites, etc?

3. Does your card make you look cheapand unimpressive?

4. Are you embarrassed to give youcard to a VIP?

5. Does your card provide a positivereection of you, your company andyour brand?

Challenge: Get your business cards de-signed and printed and be sure to bringthem to our next REIA meeting.


800 POuND GuERILLA MARkETING

Can I Have Your Business Card?By Dustin Griffin

About the Author: Dustin Grifn 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.





When you sell a property, awrap will assure you retaincontrol of a loan you have

on the property. This may be a loan yougot using the property as collateral ora subject-to loan when you purchasedthe property.

After the sale, the buyer pays you the fullpayment on the wrap and you pay theunderlying mortgage payment. I sug-

gest that you make the payment to therst mortgage holder automatically eachmonth. Dont wait around until yourbuyer pays you. Yeah, I know, properlyconstructed wrap documents do not re-quire you to make the payments if thebuyer doesnt pay you.

But think about it. That underlying loan isin your name and it is your credit is on theline. Or it is in the name of someone whotrusted you to make the payments when

you took the property subject-to. In thatcase their credit could be damaged.

In either case, by keeping it current, youkeep the lender from scrutinizing the loanand avoid late fees and foreclosure. Whenyour buyer is in default, you want to con-trol the collection process without the un-derlying mortgage holder interfering.

Another critical issue when wrappinga loan is to handle insurance properly.Since the lender is expecting to see thename on the policy that is their borrow-

er, you should have the buyer get a poli-cy showing the policy holders as himselfand underlying loan borrowers name(you or your old seller) with the desig-nation As Their Interests May Appearor ATIMA. In addition, the underly-ing lender should be shown as the FirstMortgagee and you should be shown asSecond Mortgagee.

I am sure you are wondering about thedue-on-sale clause. Yes, they can call the

loan due any time you pass title. Howev-er, our experience and that of thousands

of other investors over the years is theydont call it due as long as paymentstaxes and insurance are current. Theyhave enough defaulted loans to deal withalready. Dont wrap and sell for cash iyou are not comfortable and are not sureyou can handle the possibility of the loanbeing called.


Dyches [email protected]

www.Assets101.com

Dyches Boddiord is a ull timeinvestor who speaks rom experiencein a variety o real estate areas.His seminars and conerences areintended or the serious real estateinvestor, though entrepreneurs in

other businesses or investments will nd his

training helpul as well.

WRAP Loan TechniqueBy Dyches Boddiford

ASSETS 101

prospects attention. Also be sure all thespelling is correct on the front of the en-velope. If you misspell a sellers namethat is a really quick way to get yourmailing piece thrown in the trash.

In Conclusion

A marketing genius once said, Percep-tion is more important than reality.People are more comfortable dealingwith someone they perceive to be an ex-pert in their eld and you want that po-tential seller to perceive you as an expertat the start since that mailing piece is therst impression you are going to make onthat potential seller.

There are lots of great ways for you to

stand out in your business. Dont beafraid to be different. Although you willstill use some tried and proven market-ing techniques, those who are willing totake a little risk are the ones who are themost successful. Believe me when I tellyou, some of these lessons come from

difculties, pain, and even a couple offailures along the way. But once youmake a mistake, never make that samemistake again! Different gets attentionand thats what you want, to get the at-tention of sellers, customers and clientswho need your services.

Very simply, if you are a Real Es-tate Investor, and you dont let peo-ple know that you buy houses, youwont! Dare to be different in your ap-

proach to nding motivated sellersand customers.


Kathy Kennebrook

[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.

continued from page5
mailto:[email protected]://www.assets101.com/http://www.assets101.com/mailto:[email protected]





www.Facebook.com/TampaREIAKeep up to date with our latest opportunities by joining us on Faceboo

2013 Tampa REIA, LLC. All Rights Reserved. Reprint not permitted without written permission from publisher. http://TampaREIA.com

LEGAL DISCLAIMER: Tampa REIA, LLC promotes practical knowledge of real estate investment though education, discussion and networking.The information, views and opinions expressed in the publication do not necessarily reect the views, policies and opinions of Tampa REIA, LLCor any of its members and sponsors, nor does mention of certain trade names, products, services, individuals or organizations imply endorsementby Tampa REIA, LLC or its members or sponsors. The information presented in this publication is made available for informational purposes onlyand is not to be construed as nancial or legal advice which should only be obtained through a competent attorney, accountant or other qualiedprofessional advisor. Tampa REIA, LLC does not pre-qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, orperson. Tampa REIA, LLC recommends you perform your own due diligence and seek appropriate legal, accounting, or other professional advicebefore making any investment. Tampa REIA, LLC disclaims any and all liability for any actions or inactions taken by readers of this informationamaterial or as a result of communications from or to its ofcers, directors, employees, contractors, partners, members, sponsors and afliates.

Tampa REIA, LLC405 S. Dale Mabry Hwy

Suite 114Tampa, FL 33609

P: 813-358-8050F: 813-200-1330E: [email protected]

Dustin GrinExecutive DirectorP: 813-358-8050F: 813-200-1330E: [email protected]

Christine GrinAssistant DirectorP: 813-358-8050F: 813-200-1330E: [email protected]

Larry HarboltLarrys Weekly REI MeetupP: 727-420-4810E: [email protected]

TaMpa REIas MIssIon is to help insure our members real estate success by providing extremely

aordable, high quality, relevant real estate investing inormation and education, as well as requent,

un and rewarding real estate networking opportunities. Our goal is to be the premier educational

and networking organization or real estate proessionals in the Tampa Bay area.

http://TampaREIA.com

http://www.Facebook.com/TampaREIA

http://www.Twitter.com/TampaREIA

http://www.YouTube.com/TampaREIA

http://Meetup.com/TampaREIA

Matt & Courtney LarsenLeaders of Beach REIAP: 813-838-0171E: [email protected]
http://facebook.com/tampareiahttp://facebook.com/tampareiahttp://facebook.com/tampareia





CALL 678-318-1300

R VISITQUALITYANSWERINGSERVICE.COM/TAMPAREIA

Flippers Heaven Createdby Savvy NegotiatingBy Kimberlee Frank

FOREcLOSuRES GONE WILD

When do you know if youhave a great house to pur-chase, x and ip? Many

investors start out their career lookingfor fast money. They focus on Whole-saling by looking for deals to get undercontract and then wholesale for a $2,000to $5,000 prot. Im not saying that youcant make money in wholesaling; how-ever, you do need to consider all types ofreal estate transactions such as short sales,lease options, options, and subject tosin order to nd where you can make themost bang for your buck!

My 16 year old son, Taylor, has beeninvolved in my business every since hewas able to walk. He is ready to gethis rst house! We used to put himthrough windows of vacant houses tounlock doors and get inside so thatwe could make offers. He has learnedso much in my business; many of you

heard him speak during my Foreclo-sures Gone Wild event in Georgia. Heis purchasing his 1st house, rehabbingand hiring his friends, then ipping forprot with me, Kimberlee Frank, so hecan purchase his rst car!

This 4 bedroom, 2 bath house in San-ford, Florida is 1,072 sq ft. They con-verted the one car garage into a work-

shop. This Seller lead was a referralfrom Dream Team of trades that I useon my properties, which I teach you inmy course and trainings. I was the list-ing and selling broker with a purchaseprice of $15,125.00. The house needs$5,000 to $15,000 in repairs dependingon our exit strategy. The AC doesntwork, the entire kitchen needs remod-eling, the bathroom sinks and cabinets

need replacing, the drywall holes needpatching and entire house painted, allooring needs to be replaced, rottenwood on the softs needs to be repaired,the exterior of the house is PINK andneeds to be repainted, the roof is lessthan 10 years old, the hot water heateris 5 years old, an army of roaches (notkidding) need to die, we need to teardown an old shed that looks like itcame from a horror movie made of ran-dom pieces of metal (sell the scrap) andthe electrical box is a mess which needs

rewiring. The outside of the house isbrick and stucco. (See Picture) Theprices in the neighborhood range from$60,000 to $80,000 giving us a widerange of exit strategies.

There are many exit strategies on thisproperty lets look at several:

1. Pre-hab it which means remove all

the debris, clean the yard and ip itfor a prot. Cost to do that wouldbe approximately $1,000.

2. Wholesale the property. Cost todo that is just holding an openhouse auction as I teach in myhome study course which consistsof signs, yers and time. Coswould be $200.00

3. List it and resell it. We would have6% commission and 2% closingcosts.

The above choices would be an instant$15k in its present condition. Our endbuyer would be landlords or someonewho wants to x up their own propertyand live in it. The house would haveto be sold for cash in its present condition. Not bad for the rst deal for a kidwho is 16 years old right?

4. Fix it up and keep it as a rentawhich would cost $7,500. Pleasenote that if you are going to pur-chase a property as a rental youdont spend as much in repairs asyou would to ip and retail it. Totacost involved would be $22,625.00He could rent the property for the$900.00 to $1,000 a month. Which

continued on p16
http://www.qualityansweringservice.com/tampareiahttp://www.qualityansweringservice.com/tampareiahttp://www.qualityansweringservice.com/tampareiahttp://www.qualityansweringservice.com/tampareiahttp://www.qualityansweringservice.com/tampareiahttp://www.qualityansweringservice.com/tampareiahttp://www.qualityansweringservice.com/tampareia





www.YouTube.com/TampaREIAKeep up to date with our latest videos by subscribing to our YouTube Channel

In recent Washington State SupremeCourt decision (Bain v. MERS), thecourt ruled that the Mortgage Elec-

tronic Registration System (MERS) is notand cannot be a legal beneciary underWashington State Law. In effect only thelegal holder of the note, the real creditor,has the power to appoint a substitute trust-ee in order to transact such legal actions asa foreclosure.

The court asserted that the power ofsale of a property is a signicant one andtrustees have tended to ignore their du-ties and obligations. The court believedit was time to swing a little bit of thepower back to the side of the borrower.

Essentially, the court ruled that thelenders could not continue to routinelyignore the states laws regarding the re-cording of deeds and then turn around

and use the same set of state laws toforeclose on a borrower. The court alsoleft the door open for those with legalgrievances to ask for compensatory dam-ages against MERS and those who usedMERS in wrongful foreclosures.

The court made this decision in part be-cause MERS never has anything to dowith the actual nancial transaction. Itnever handles any of the money in theloan process, and it never has anyoneon staff with personal knowledge of

the principal for whom they are acting.Therefore, MERS has no standing whenit comes to a foreclosure.

So what is the general impact of the Baindecision? The decision certainly clearsthe way for legal action in Washingtonfor aggrieved homeowners who have losttheir homes, or who are threatened withforeclosure through MERS as benecia-ry. While the ruling has no legal stand-ing outside of Washington, it will mostcertainly be cited as case law for suits inother states where MERS is frequently

listed as beneciary with the right toappoint a nominee trustee. This rulingadds considerable ammunition whereverMERS has been registered on deeds heldin local property records as the owner,but it turns out is merely the nomineefor a succession of owners.

If MERS is all that is needed in order torecord the sale of property, then why isthere a statutory scheme for recordingdeeds and mortgages in every state? The

MERS process circumvents the statutorysystem, and therefore MERS is arguablyillegal in every state. Perhaps not allstate supreme courts will rule this sameway; but many will, if cases reach thatlevel. The case does closely resemble onethat was decided by the Kansas statesupreme court. In addition, since theWashington case was actually certiedfrom a federal court, there is applicabil-ity of the ruling in any federal court case.

This ruling provides real estate investors

with powerful ammunition in their ef-forts to help underwater homeowners,and buy houses at huge discounts. There

is now a direct ruling against MERS thaputs into question the banks ability toforeclose. We now have a way to forcethe banks to negotiate on our termsNot only are we able to use this information to help underwater homeownerget out from under their homes with noshort sale, no deciency, and no comingout of pocket, but we are able to pickup pretty houses at incredibly low prices

For more information on how you can geinvolved in helping underwater homeowners while doing some awesome dealsgive my ofce a call at 706-485-0162.


MERS Takes It on the Chin inWashington State Supreme Court CaseBy 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 become

the nations leading educator on the oreclosureinvesting the oreclosure process.
http://www.youtube.com/TampaREIAhttp://www.youtube.com/TampaREIAhttp://www.youtube.com/TampaREIA





Commercial Real Estate

Buying Commercial real estate with yourself-directed IRA is not much differentthan buying a residential property, ex-cept commercial real estate purchasesrequire a whole lot more due diligence.

Commercial Real Estate Get theReal Numbers!

The offering says gross potential, (a.k.a.pro forma). This is one of the thingsyoull run into all the time. The brokersays its got a great pro forma. Hereswhat it can generate. You want to ndout what it did generate, not what itsgoing to generate. You want to buywhat its doing today.

With REOs, foreclosures and distressedsales, youre going to have to evaluate

things on a case-by-case basis and getthe real numbers.

Commercial Real Estate TheTruth is in the Documents!

This section outlines the many impor-tant documents you need. Having saidthat, remember you can make the offerin advance of receiving all of the belowas long as you make the offer contin-gent on the receipt of the documentsyou need.A note about contingencies:make sure you arevery specifc including

amounts you expect to see on the docu-ments, ability to get insurance at thecurrent cost, verication from the coun-ty of zoning specic to what you intendto do with the property, etcetera.

A lease is the most important document.Read every lease line by line and makenotes, or get somebody that knows howto read leases line by line. Are there anyspecial arrangements? The landlord saystheyre paying $1,000 a month, but it

turns out that Im obligated every yearto repaint the place, re-carpet the place,and so forth.

Rent rolls help identify the turnover andcollection issues. They contain the list oftenant names and contact numbers, andthe rent amounts. Make sure the leaseinformation matches the rent roll.

With existing loans, you want to reviewthe loan documents and nd out if theycan be assumed? Is there a prepaymentpenalty? Is there an extension available?What is currently owed and what arethe terms?

The other thing you want to nd out iswill they allow subordinate nancing?Many commercial loans dont allow sub-ordinate nancing. If youre looking atcreative nancing or all-inclusive deedsof trust and if you cant put a second onthere, that creates a problem.

Make sure the rent fles are complete.You should have an application, a creditreport, a criminal background, a signedcurrent lease and a variety of otherthings.

Check the utility bills for usage. Youmay have a tenant in there thats usingtoo much water, too much electric or toomuch gas if theyre centrally metered ona large commercial project.

Insurance is the property properly in-

sured? Does it need to be increased? Heresa big problem. You buy a commercialproperty, the insurance is $5,000 a year,and net operating income is 10%. Itslooking good so far except the insurancecompany is going to stop writing that typeof property next year and the next policy isgoing to cost $25,000 a year.

Property taxes are another thing. Ob-tain the property tax returns and ndout when they have last been reassessed?

Property taxes are $12,000 a year. Arethey delinquent? If theyre delinquent itmeans theres an opportunity there forrenegotiation with the seller. Obviouslytheyre not telling the truth or there aregoing to be problems other places.

If the property hasnt been assessed fora very long time and it is going to beassessed when you purchase it, the in-crease in taxes is going to affect yournet operating income. Alternatively, theproperty may be over assessed. Check tosee how the property compares to simi-lar properties in the assessed value? Is ithigher or lower? The reason why thatsimportant is because you may have anopportunity to lower the taxes, whichcreates more income.

Garbage is there more than one pro-vider or are you stuck with them? Whodoes the maintenance? You may notwant to do the maintenance. Youve got

to make sure thats covered.

Are there contracts on the HVAC? Ifnot, what would the costs be? Can thewaterbe separately metered? Thats anopportunity to increase cash ow. Gas can it be separately metered? Bookkeep-ing and accounting nobody ever hasbookkeeping and accounting on theirproperties. Do they have a pest controlcontract?

Go over every expense item and makesure its accurate. Youre buying in-come. If the income does not matchthe price must come down or youshould exit the deal. Its really thatsimple. Youre buying income when itsincome property.

You want to make sure that you get agood title company, and that ALTA willcover easements, encroachments andother title issues. To get an ALTA youneed to make sure that the survey is cor-

Commercial Real Estate -The Prot is in the Details!By Jim Hitt, CEO of American IRA, LLC

FAST TRAck TO SELF-DIREcTED IRA INVESTING

continued on p13





Im excited. I am using new tech-niques and they are working!

Where do I learn new techniques?Recently I took training because I knowthat change is one of the key factors ofstaying ahead of changes in the economy,the market, and life in general. I chosetrainings about lease options and 0%owner nancing. Each of these gave me anew in my tool in my belt a tool to help

me to make more money.

But understand, for any scenario to work,I MUST know my plan.

I assume that you want what I want: tomaximize my prot potential. So, we areinterested only in the properties that willhelp us do this. We must make choiceswith this in mind.

Here is a scenario to show you concrete

ways of deciding

Deal or No Deal?

The Scenario

The seller wants 120K. The seller owes $115,000 and has

been paying the mortgage for 6years.

The house needs $3,000 in repairs. Taxes are $1000 annually. Insurance is $800 monthly.

Fair market value is $100,000. Rents in the area are $1,000 a month. The interest rate is 4%. Total monthly payment is $773

(principal, interest, taxes, insurance). Equity is not an option. The difference between asking price

and the fair market value is $20,000.

These are the only facts you need to gureout how to structure the deal! The ques-tion isHow are YOUgoing make money?

Is this a Deal or a No Deal?

Well, how long do you want to stay inyour JOB?

My advice? This is not a buy-x-and-sell.But it could be a buy-x-and-hold. As aSubject to, lease option, or sandwichlease option, this will work. But it wontget you enough to leave your job.

As a Transactional Coordinator, I canstructure the deal to lease the propertyfor $757 per month and then sell it to atake-out buyer under a lease with an op-tion to purchase the property within 10years. Over a 5-year period, the principalwill be reduced to $100,000. The cashow would be $227 per month.

If the seller asks for their equity of $2,000up-front, and you want to make $5,000 up-front, would you be able to convince a po-tential buyer to give you a $10,000 optionfee with payments of $1,000 per month?

Based on my years of experience, here aretwo possible plans:

Plan A: Sandwich Lease Option

Here, you are responsible for makingpayments while the property is vacant.The tenant-buyer will make repairs dur-ing the two-year option and the one-yearextension. You will be making $227 per

month in positive cash ow. You will askthe tenant buyer to pay a $12,000 optionfee or 10% when they move in. This cov-ers the repairs and gives you future clos-ing costs. The purchase price would be$120,000 on the day you close.

Plan B: Lease Option with Whole-sale Component

Here, the tenant-buyer puts down a$12,000 option fee. $2,000 goes to the

seller, $5,000 goes to you, $2,000 goes tooption closing costs and repairs. The ten-ant/buyers monthly is $773 per month.

Since I have many years of experienceI can say that Plan A will probably notget you out of your job. However, PlanB would be viable. This is because if themarket does not recover, after 10 yearsthe take-out buyer can renance in the6th year. With patience, everyone wins.

Would you have known what facts youneeded to decide if this is a Deal or a NoDeal? Would you have known the pos-sible options that I have presented?

Remember that having a mentor can helpyou answer these questions. I have theknowledge to help you to make informed decisionsthis is why I am a mentor to manypeople, and Id like to advise you. I am look-ing forward to meeting you and helping you

on your way to a successful 2013!


HOW TO BE A REAL ESTATE INVESTOR

Deal or No Deal?By Russ Hiner

Russ Hiner404-660-4289

[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 experiencein 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.


13/282013 Tampa REIA, LLC. All Rights Reserved. Reprint not permitted without written permission from publisher.

www.MeetUp.com/TampaREIAJoin us on Meetup and RSVP or the meetings you will be attendin

2013 Tampa REIA, LLC. All Rights Reserved. Reprint not permitted without written permission from publisher. http://TampaREIA.com

Tampa Real Estate Investors Alliance APRIL 2Tampa Real Estate Investors Alliance MAY 2

rect. You dont want to end up with thebuilding on the wrong lot.

Get an appraisal. You need to makesure the value of the building is accuratebefore completing the purchase.

Obtain a tenant estoppel letter. Havethe current tenants sign a tenant estop-pel letter that he says Im paying $1,000a month, my lease started on Septem-ber 1, 2009, its paid through August 1,2012 and there are no other agreementswritten or oral than these terms and con-ditions. This prevents any surprises suchas nding out the $1,000 a month getswhittled down to $700 because theyregiving a kickback for $300 a month forneighborhood watch or something like

that. That affects your income.The mortgage estoppel letteris virtuallythe same thing. The lender says these arethe terms and conditions, and that is infact the case, particularly a private party.

Get a list of thepersonal property.

Create a cash ow statement on yournumbers, not pro forma.

All documents related to propertyshould be requested andverifed.

Commercial Real Estate Zoning!

Make sure that its zoning compliant,building compliant, engineering andADA compliant. These are all simplequestions that you canask the county.

Make sure its zoned property. If youreexpecting to be able to put 18 units peracre on there and you go down to thecounty and they say you can only put 16,that will affect the value of the property ifyoure buying income property that alsohas the opportunity to add more units.Make sure there arepermits and licensesand contracts for the elevator and that itsbeen maintained.

Disclaimer

The documents listed, the examples, andthe references in this article are merelyexamples. This is not an all-inclusive listof what you need to review before enter-ing into a commercial transaction; this isabsolutely for illustration purposes only.You need to consult with the proper pro-fessionals when entering into this type oftransaction.

American IRA, LLC does not giveinvestment advice. We do offerguidance as to the rules and regulations

related to their self-directed accounts andthe benets of different account types sothat our clients can take that informationto their professionals to discuss theramications of various decisions on theiindividual situation.

For more information, or to exploreyour options, call American IRA todayat 866-7500-IRA (472). We lookforward to working with you.


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, LLCand has been committed to allaspects o investing or more

than 30 years, using seldirected IRAs or hisown investments since 1982. Jims orte is thenancing and acquisition o real estate, privateoerings, mortgage lending, businesses, jointventures, partnerships and limited liabilitycompanies using creative techniques.


advertie Yur Buie i The prtI youre looking to reach the Real Estate Industry here in the

Tampa Bay Area and throughout Florida, you cant do betterthan The PROFIT. Your ad will reach more than 5,000 each month

with your message. Our production teams are among some othe best designers in the country. We make you look GOOD!

I yu re redy t get trted, ee ur advertiig Rte i thi iue d

the cll Chritie Grif t 813-358-8050 r emil [email protected].

Tampa Rea Estate Investors Aiance
http://www.meetup.com/TampaREIAhttp://www.meetup.com/TampaREIAhttp://www.americanira.com/mailto:admin%40tampareia.commailto:admin%40tampareia.commailto:admin%40tampareia.commailto:admin%40tampareia.commailto:admin%40tampareia.commailto:admin%40tampareia.commailto:admin%40tampareia.commailto:admin%40tampareia.commailto:admin%40tampareia.commailto:admin%40tampareia.commailto:admin%40tampareia.commailto:admin%40tampareia.commailto:admin%40tampareia.commailto:admin%40tampareia.comhttp://www.americanira.com/http://www.meetup.com/TampaREIA





Did you know that the littleiPhone I carry around withme is more powerful than the

computer that took Apollo 11 to themoon? Its true. The Apollo 11 com-puter was just 64 kilobytes!

Its amazing, isnt it? I can balance mychecking account on my phone. I get200 cable stations on my TV, and I betsomeday Ill be able to watch them allat the same time. And Im pretty suremy kids dont know how to dial a ro-tary telephone.

Yes, weve come a long, long way fromAtari Pong!

(For my younger readers, Pong was avery simple computer game where youmade a little ball go back and forth and.. Well, I guess you kind of had tobe there.)

But technology development for itsown sake just creates shiny distractions.In the rush for new hardware, new ap-plications, and new and more sophisti-cated Internet sites, its easy to forgetabout yesterdays website of the day.

So this month, Im taking a look at a

website thats well-known and not soshiny anymore, but incredibly useful:Youtube.

Yes, Youtube. I know, its old news, butYoutube isnt just for wardrobe malfunc-tions anymore. Sure, you can watch theShamwow guy, or see the zoo lady ticklethe baby penguin (I love that one!), or beinspired by that great Chrysler Super Bowlcommercial from 2011.

But Youtube is also a massive treasuretrove of incredibly practical, how-to ad-vice. Need to stage a house? Fix a leakyfaucet? Learn Excel? Its all there, andthen some! In fact, I have some reallyuseful videos there, too. Heck, lets notstop there. You can also learn to balance

a checkbook, clip your dogs toenails, orlearn the Welsh national anthem.

Lets say you want to install a new ceil-ing fan. In the past, you were at themercy of those incomprehensible paperinstructions that come in the box. Butyou can search Youtube and actuallywatch the installation. If you nd a de-cent video, those paper instructions be-come darned near disposable. That canmake all the difference in the world!

Be careful, though, whose advice youfollow. Like the Internet generally,anybody can post on Youtube. A videomade by MegaHardware Store is prob-ably okay, but even those guys can messthings up once in a while. So considerthe source, and always verify with otherwritten or visual instructions. I recom-mend watching two or three videos, notjust one. Watching more than one canhelp clarify confusing instructions, andcan also tip you off to unreliable advice

if you see inconsistencies.

So while youre enjoying all the bestnew stuff on the Web. dont ignorethose old standbys like YoutubeTheyre more helpful than ever.

And by the way, if you go to a yardsale and you nd a vintage game called

Kaboom, I want it. See, in Kaboomthey had this stick gure man trying toavoid a bomb, and there was actuallysound, which was very cool, and Ohnever mind


Don [email protected]

www.MobileRealEstateRockstar.com/Atlanta- REIAwww.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, who

is a ull-time investor, trainer, and mentor, isthe rst to oer his complete investing systemon a mobile platorm. Don teaches investorshow to Make More and Work Less by beingmore efcient, productive and competitive,leveraging mobile technology and apps on theiPad, iPhone, Android and other mobile devices.

THERES AN APP FOR THAT

Discovering an Old FavoriteBy Don DeRosa

A self-taught man usually has a poor teacher. ~ Henny Youngman

SARASOTAREIA.COM

Ji u t the

SARASOTA REIA WEEKlY MEETINGEvery Wededy t n

at the Oriental Bufet, 4458 Bee Ridge Rd, Sarasota, FL
http://screamer/Users/Scott/Library/Caches/Adobe%20InDesign/Version%208.0/en_US/InDesign%20ClipboardScrap1.pdfhttp://screamer/Users/Scott/Library/Caches/Adobe%20InDesign/Version%208.0/en_US/InDesign%20ClipboardScrap1.pdfhttp://screamer/Users/Scott/Library/Caches/Adobe%20InDesign/Version%208.0/en_US/InDesign%20ClipboardScrap1.pdfhttp://screamer/Users/Scott/Library/Caches/Adobe%20InDesign/Version%208.0/en_US/InDesign%20ClipboardScrap1.pdfhttp://www.sarasotareia.com/http://www.sarasotareia.com/http://www.sarasotareia.com/http://www.sarasotareia.com/http://www.sarasotareia.com/http://www.sarasotareia.com/http://www.sarasotareia.com/http://screamer/Users/Scott/Library/Caches/Adobe%20InDesign/Version%208.0/en_US/InDesign%20ClipboardScrap1.pdfhttp://screamer/Users/Scott/Library/Caches/Adobe%20InDesign/Version%208.0/en_US/InDesign%20ClipboardScrap1.pdfhttp://screamer/Users/Scott/Library/Caches/Adobe%20InDesign/Version%208.0/en_US/InDesign%20ClipboardScrap1.pdfhttp://screamer/Users/Scott/Library/Caches/Adobe%20InDesign/Version%208.0/en_US/InDesign%20ClipboardScrap1.pdf





Keep up to date with our latest opportunities

by joining us on Facebook at

www.Facebook.com/TampaREIA

When it comes to Wholesalingproperties, I see the questionasked frequently: Where

should I start? Marketing for MotivatedSellers? Or Marketing for Cash Buyers?

First, lets acknowledge that each personsdenition of success is different. Moreimportantly, its a mistake to make my

denitionyourdenition. You must decidewhat success means toyou!

We are somewhat biased when it comes tothis subject, because in most of the materi-als we went thru when we were rst get-ting started out all said to start with Mar-keting for Motivated Sellers. The theoryis that if you nd a Hot Deal, meaning aproperty under contract that is WAY be-low market value, if you have that thenthe Cash Buyers will nd you. So just getout there and go nd a Hot Deal and theCash Buyers will come to you. On a sidenote, same principle applies when it comesto nding Private Money. If you nd theHot Deal, the Money will nd you. Not,go nd a Private Lender then go look for aHot Deal. I always like to have the Ace upmy sleeve when you have the Hot Deal,you have control.

I am somewhat intrigued by the theoryof building your Cash Buyers List rstthough. The theory with that one is that

if you go out and build a big buyers list,then you can just wholesale other Whole-salers deals. So you have lined up BuyerBob and he wants to spend $100K thisweek on some cheapo rental houses, butyou have nothing under contract. Youdont tell him you have nothing, you saylet me check with my people, then youcall your Wholesaler buddies and see if you

can Joint Venture on some deals that theyhave under contract and split the prots. Ican see this as a viable strategy now (sinceI have now done it haha!).

So back to the question of where do youstart if you are just starting out? Start withMotivated Sellers, or start with a CashBuyers list? The answer is BOTH!! Natu-rally, why not do BOTH???!!! Market forMotivated Sellers, get the Hot Deal, sell ityourself because the Buyers will nd YOUif you have a Hot Deal and you can keep allof the prot. AND also market for CashBuyers, and if you nd a hot Cash Buyerthat wants to work with you and is readyto spend some Cashola, help him spend it!Make friends with some other Wholesal-ers and ask if I bring you the buyer onthese deals here, can you cut me in on theprots? Most will say YES, because halfof something is better than 100% of noth-ing. And you will probably get less thanhalf at 1st, but as your alliances grow youcan negotiate your value up. And there

will be times when you have the Hot Deaand another Wholesaler has the Buyer, soplay nice and scratch each others backsReciprocate. Be cool to people and peoplewill be cool to you.

BUT, BUT, BUTif you nd the HOTDEAL yourself AND you have the Buyersthen you have full control and you need to

maximize your prots. That is the ideasituation, so go out there and market forMotivated Sellers and get the Hot DealsAnd go out there and market for CashBuyers. Put the two together and you wilbe making some Fat Cash my friend.

Now get out there and do it!


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.

What Comes 1st, Finding the Cashor Finding the Deal?By Matt Larsen

QuIck FLIP FOR FAST cASH





would mean by the second year, hewould be pulling in approximately$750.00 a month cash ow for therest of his life.

5. Fix it up and retail the property for

full prot. Maximum repair costwould be $15,000 plus cost to pur-chase it of $15,125 = $30,125.00.We could make a $30 to $50kprot, however, our end buyerwould be an FHA buyer whichrequires that we have 2 appraisalsand 6 sold comparables if we soldthe property prior to 91 days.

The reason why Taylor got such a gooddeal on this property is because my of-ce did the negotiations with the bank

and created the spread based on nego-tiating skills which I teach. The mostimportant part of purchasing a shortsale is to understand what requirementsare on the Arms Length TransactionForm, meaning how long you haveto hold the property before resellingit. Since there was no hold time fromthe short sale lender, we have all 5 op-tions available to us. The property waspurchased as my sons rst project andyes, he is partnering with his mom.

ME. His job will be to look on Craig-slist for cheaper cabinets since manypeople are removing all their cabinetswhen in foreclosure, in addition to oth-er deals on things that we may use at agreat discount.

I will be taking before and after pic-tures and also lming to educate in-vestors like yourself who would havewalked away from a project like thisand lost out on thou$and$ of dollar$!I had to laugh because two of my staff

members said Kimberlee you dontwant this house! It was an easy choiceto make as I have rehabbed 100s ofhouses, done over 500 short sales, andhave owned over 43 rentals at a time.nothing scares me! What I am tellingyou is even if you dont like a property,get it under contract and try the aboveoptions. NOTE: Short Sales and REOsmust be closed in the same name on thecontract that was initially submittedto the short sale lender/REO bank ver-

sus adding personal name, LLC, trust,etc. However, if you use my paperworkin my Home Study Course, your titlecompany and you have a cash buyer,then you can use your end buyers cashto purchase the property and you donteven have to hold the house for morethan 1 hour.

The market is tight every where you goas the banks have not dropped their in-ventory on our market yet which meansif you want a good deal, you need tocontrol the deal by nding the sellerand do marketing for them to come toYOU! I believe the best deals that yound are short sales which take 90 to120 days if you use my system whichallows you multiple exit strategies.Stop waiting, start marketing and getsome deals!

Taylor has a big motivating factor forprot on this house. He wants his rstcar and his share of the prot will betowards a new car. So if you needmotivation, pick one thing you wantand go after your dreams. Start nd-ing sellers, allowing you to have all themoney you need to make your dreamscome true and leave a legacy for yourfamily as I am doing for mine.

Happy Negotiating!

Kimberlee Frank


continued on p18

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 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.

http://qualityansweringservice.com/tampareiahttp://qualityansweringservice.com/tampareia





In our last issue, Id promised to de-liver to you a fast, easy, and FREEway of getting a good chunk of mo-

tivated Seller Leads, so that you couldstart lling your pipeline full of deals,in order to avoid the dreaded conditionknown as One-Deal-Itis! Sound fa-miliar? Great! Were all caught up.

In this issue, youre going to learn

exactly what information you need tocompile about each lead youre goingafter. Remember, were targeting ForSale By Owner leads (aka FSBOs), andweve also selected Craigslist.com as asource for those leads.

But let me also point out that there aremany other sites you can use to gathera nice list of leads, such as Fsbo.com,ForSaleByOwner.com (yes, theyreseparate sites), Owners.com, andothers.

Youre also about to get a sweet scriptto use when calling these FSBO leads.Ready? Here we go...

Heres the Information Youll Needto Put Together for the Initial

Spreadsheet:

1. Link for the AD on CL/FSBOsite. Easiest to just cut & paste itin.

2. Email address for that ad. (It will

be a special Craigslist email, butdont worry)

3. Quick details of the house (Notesabout it. Just a few. You can copy/paste.)

4. Asking Price.

5. Location & address of house(obviously)

6. Make sure you leave some room,because youll also be gettingother important info you need,such as What the house is Worth(ARV), What they OWE, Whatthe Repairs are, if the Paymentsare Current or not, why theyreselling, etc.

Once youve gotten yourself all organized& ready to go, its time to make some calls!We also like to call this part, DialingFor Dollars, but feel free to call itwhatever you like.

This is the part where most peoplefreeze up & just dont do anything.Why? Because theyre either scaredorunprepared. So lets x both of thoseright now. The only reason youd feelunpreparedis because you dont have thefoggiest idea of what to say to the sellerif & when they pick up the phone!

Ok, thats easily overcome by thesimple script Im about to give you.

Now, if youre simply scared to makesome calls, I understand! Hey, weve allbeen there before.So Ill tell you what. Why not just pickup the phone & call your best friend.Try doing a little role-play with them,but dont let it take longer than 5minutes...TOPS!

I can practically guarantee that yourfriend will probably be tougher thanmost sellers you talk to. Hey, all thesepeople want to do (most of the time) isjust sell their house. And your job is tosimply call enough people, read off thescript, ll in a few lines, and nd whichones are out there that you can workwith that are possibly a deal!

Feeling better yet? Great! So letsget to the Bat phone! Now, before

you start, make sure youre set up &organized. Have their website ad pageopen in front of you while you talkto them, AND have a pen & piece opaper to write NOTES on....VERYIMPORTANT!!!

If you have a Property Info Sheet from agood course, USE IT! Print it out one &write on it. In fact, print out abunch o

them to use for when you talk to sellersYoull need em.

Heres a Simple Outline of a ScriptYou Can Use (Practice This!):

You should start off w/ something likeHi, Im calling about the ad I saw onCraigslist about the house for sale ... ISTHE HOUSE STILL AVAILABLE?

I always like to start off w/ that, becauseit gets right to the point & makes sureIm talking to the right person. Plusit psychologically draws the seller in toyou, because they feel like they havesomeone interested. (Evil, deviousecret #1!)

If the house is still available, you thenquickly introduce yourself & ask fotheir name. (Hi! My name is TonyWhats yours?)

Next, you tell them that youd like toask a few questions about the house ifthey have a minute,

andask if thats ok. (More psychologyat work here, hahaha!)

Start your questions by saying that yousaw the ad & the house looks (greatnice, lovely, whatever), then say youdlike to conrm what you read in the adThis shows them that youre real andthat youve really read their ad.

Conrm the number of beds & baths

PEARLS OF WISDOM

A Fast, Easy, and FREE Way to Fill YourPipeline Full of DealsPart 2By Tony Pearl

continued on p19





larry Harbots WeekyRea Estate Investor Meetup

Every Mdy t 7:00mHibachi Buet7610 49th St N, Pinellas Park, FL

JoinUsa

t

The process is a long one after ahome is foreclosed by the bank.These days banks take weeks

if not months or a year after foreclo-sure to get their paperwork together,do evictions, minor clean up and makethe assignments to the real estate bro-

kers who they have hired to handletheir properties. But the time of cleanup and eviction is not a problem forthe savvy investor, it is an opportunityto round up buyers so that these prop-erties sell almost immediately as youget them under contract.

I suggest as an investor gets a prop-erty under contract to start the processof rounding up buyers. Videos, pho-tos and massive email lists are severalways to attract your potential buyers.

Whenever you advertise your proper-ties use photos or better yet video. Illget to more video in a minute. Thistends to get the buyer serious beforethey visit the property. Even for buy-ers of a 100K home, they like to seepictures and it helps the buyer makean emotional connection. Investorsand the individual buyer now search

the internet to find homes that theycan get serious about buying. It is veryimportant to give them enough infor-mation to make a decision.

Another effective tool I suggest is vid-eoing the property. Taking video has

expanded on the process for buyerswhen they are searching the internet.If you can show the buyer the homein detail by exposing the floor planthat photos can not, then the buyercan make a more qualified opinion onwhat they need to look for when theyvisit the home to make the decisionprocess of a yes or no quicker. Videoon the internet is the newest, latestand greatest process of advertisingyour properties for sale.

Finally, gathering a list of potentialbuyers is also another must in theworld of bank owned homes. Creat-ing the action before the home sits onthe market for long is powerful for theREO investor. If you think about 10years ago in real estate, buyers came toreal estate agents to see what they hadlisted. Many buyers still do the samething even though they have access to

the internet and the inventory. Butif you have a list already developed opotential buyers it will help your prop-erty sell much faster.

Atlanta REIA and Tampa REIA notonly offers the comps necessary to

determine property values (See http:/www.reiacomps.com/), but also thetraining necessary to learn how toget your properties sold as quickly aspossible.


Finding Buyers for REO PropertiesBy 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.
mailto:[email protected]://www.reiacomps.com/http://www.reiacomps.com/mailto:[email protected]




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

407-831-2498

Subscribe to

@http://IRCForida.com

Meets on the 3rd

Thursday of eachmonth from

5:309:00pm

Winter Park Civic Center

1050 W. Morse Blvd.

Winter Park, Fl 32789

FOllOW IRC ON: www.Facebook.com/IRCFlorida

www.Twitter.com/IRCFlorida

We meet at Whiskey Joes Bar & Grill,

located at 7720 West Courtney CampbellCauseway in Tampa, right ater our

Tampa REIA Main Meeting

Join us or

LATE NITE NETWORKINGat the

Meeting-Ater-the-Meeting

http://www.whiskeyjoestampa.com

square footage, etc. The simple,obvious stuff. Ask when the house wasbuilt. Ask what kind of condition itsin... Is it move-in ready? Does it needany work? If it needs work, what kind

& how much would it cost to x up?

Then ask WHY theyre selling thehouse. Here are some nice, magic

words I like to use: (First Name), itsounds like a really nice house! May Iask why youre selling at this time?WRITE DOWN what they say.

DONT SKIP THAT PART - ITSONE OF THE MOST IMPORTANTPIECES OF INFORMATION YOUREGATHERING!! It lets you know what

their true Hot Button is for selling,so when you construct & present youroffer, you can frame & present it aroundthat point. It also opens things up forthe next wave of important questions.

Ask Do you have a mortgage on thehouse, or do you own it free & clear? (Imade up that phrase & it works great,so use it.) Most people will have amortgage, so youd need to next askthem, Ok, about how much do youstill owe on it? And how much areyour monthly payments? Does thatinclude Taxes & Insurance, or do youpay that separately?

If youve gotten this far with a seller,and theyre still answering yourquestions, congratulate yourself,because youre doing great! Actually,most conversations you have should gothis well. After all, youre just gathering

information by asking a few questions.Just keep it simple!

I hate to have to do this, but weverun out of time (and space)! So join us

NEXT month for the next installment.Were going to complete the script andcover how to handle some objections.Important stuff that you dont want tomiss!

Well see you next month, right here.

Tony Pearl


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.

http://ircflorida.com/http://ircflorida.com/http://ircflorida.com/http://ircflorida.com/http://ircflorida.com/http://ircflorida.com/http://ircflorida.com/http://ircflorida.com/http://ircflorida.com/http://ircflorida.com/http://ircflorida.com/http://www.whiskeyjoestampa.com/whiskeyjoes/http://www.whiskeyjoestampa.com/whiskeyjoes/http://www.whiskeyjoestampa.com/whiskeyjoes/http://www.whiskeyjoestampa.com/whiskeyjoes/http://www.whiskeyjoestampa.com/whiskeyjoes/http://www.whiskeyjoestampa.com/whiskeyjoes/http://www.whiskeyjoestampa.com/whiskeyjoes/http://www.whiskeyjoestampa.com/whiskeyjoes/http://www.whiskeyjoestampa.com/whiskeyjoes/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]://www.whiskeyjoestampa.com/whiskeyjoes/http://ircflorida.com/





Tampa REIAMember Benefts

TampaREIA.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

Tampa REIA Main Monthly Meeting &Vendor Tradeshow

Learn From Home on Our MonthlyWebcast Series

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

Tampa REIA Subchapter Meetings

Community Outreach Programs

Haves & Wants Speed Marketing Sessionand Weekly Meeting

Monthly Tampa REIA The Prot InteractiveeNewsletter

Weekly Tampa REIA Email Announcements,Articles & News

Volunteer Opportunities

Member Discounts on Workshops

Member Discounts rom Local & NationalVendors

And much, much more!

Tampa REIA

Member Discounts 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, Bannersand Magnetics and other products and getFree Delivery on all orders

And much, much more!

Join Tampa REIAToday!http://TampaREIA.com/Membership

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

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

http://TampaREIA.com/Membership

REAL ESTATE RAW

My rst property turned out tobe my rst mistake in the realestate business and one of the

best lessons I ever learned.

I am a pilot by trade. I graduated col-lege and went straight into the ightacademy. I ew and instructed there un-

til my rst real job as a corporate pilotfor a medical supply company in Macon,GA. When I quit that full time job togo into real estate full time I had savedup $10,000 and had one deal under mybelt. My rst deala duplex which cashowed $300 dollars a month. It was thebest deal I ever did because it got megoing in the business and now I have al-most 400 units and 8 employees. I alsomade one giant mistake!

Always place the deal in context of thesurrounding market. I analyzed the deallike I was taught and it did cash ow ac-cordingly. I closed on the deal for $40K.Shortly after I attended my rst REIAmeeting in which I was promptly toldyoure an idiot! Unfortunately I hadto agree with the person that was tell-ing me this. He and his friends had beenbuying similar duplexes in the neighbor-hood for $20K! I paid twice what theproperty was actually worth.

My point in this lesson is that you mustalways place a deal into the context ofthe surrounding market and sub mar-ket. Checking the comparable salesin the area would have saved me fromthat particular mistake but that is notenough alone.

One of the rst lessons I teach my stu-dents is to know their markets thor-oughly. This means knowing the valueof what you are trying to buy, but also

knowing the exit strategies available inthe area.

A large portion of a deals value lies inthe validity of the exit strategy such aswholesaling, x and ipping, hold andoperating or renancing. You need toknow you are not just assuming someone

elses headache. If properties are trad-ing a low cost then typically the marketlacks exit strategies. When sellers cansell and choose the price or renance eas-ily, then the prices in an area are higher.When the exit strategies become moredifcult, the price of income producingproperties decreases accordingly.

You need to nd great properties withgreat exit strategies, selling at greatprices. Decide what the last owner didwrong and come up with a better strat-egy. Create a plan to take the propertyfrom day one all the way to sale. Creat-ing a solid exit strategy should be some-thing you do during the due diligenceperiod, before you buy the property.Know the way out before you get in.


My First Real

Estate MistakeBy 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.
http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership/http://tampareia.com/Membership