the profit newsletter march 2013 for tampa reia

7/29/2019 The Profit Newsletter March 2013 for Tampa REIA

http://slidepdf.com/reader/full/the-profit-newsletter-march-2013-for-tampa-reia 1/242013 Tampa REIA, LLC. All Rights Reserved. Reprint not permitted without written permission from publisher. http://TampaREIA.com

Tampa Real Estate Investors Alliance • MAR 2

Dustin will be speaking at Tampa REIA on Thursday, March 14th

on many o the “800 Pound Guerilla Marketing Strategies and

Techniques” he uses to generate leads or his real estate investing

businesses. He will also be teaching a ull day workshop in Tampa on

Saturday, April 13th called “101 Plus Ways to Generate Buyer & Seller

Leads”. See http://tampareia.com or more inormation.

What is the rst thing you needto do for your rst or nextsuccessful real estate deal?

You need leads of course. How many leadsdo you need to do one single deal? If youare a new investor or even a seasoned one,you may need to go through as many as10 leads to get one solid, protable deal..

So how many leads are you generatingeach month? Are you generating 5, 10,

15, 20, 30, 40 or 50 leads per month? If you are not generating at least 50 leadsper month, you are not alone. Most inves-

tors don’t generate anywhere near 50 leadsper month. In fact, it has been said thatonly the top 5% of all real estate inves-

tors generate and capture 80% of all theleads oating around out there. So what dothese top investors know that the averageinvestor doesn’t know?

The answer is simple… the top 5% of allinvestors know how to generate all theleads they can handle and more. Perhapsyou know some of the top lead generatingreal estate investors in your area. Chancesare you see their marketing efforts every

time you turn around.

One such investing company that youshould all be familiar with is HomeVes-tors®, the nice folks with the “We BuyUgly Houses®” signs all over town. Hom-

eVestors® used to be ahuge 800 Pound Go-

rilla before the hous-ing market crash, butas of mid-2012, theyare back in force andare quickly regaining

their marketing dom-inance once more.

Tampa REIA, LLC405 S. Dale Mabry Hwy, Suite 114

Tampa, FL 33609

P: (813) 358-8050 • F: (813) [email protected]://tampareia.com

MAIN MEETING

Thursday, March 14th

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

6:00pm – 9:00pm

IN THIS ISSUE

MAR 2013

800 Pound Guerilla MarketingBy Dustin Grifn .......................................................................1

Why Real Estate Investors Need Constant TrainingBy Bill Cook ................................................................................5

How Banks Are Committing Fraud, Part 1By Bob Massey ..........................................................................6

The Best Deals To Do in Real Estate in2013 & Beyond! Part 3

By Tony Pearl .............................................................................8

Making Creative Oers - Part 2 o 5By Bill Ham ................................................................................9

Getting Started with Subject-To TransactionsBy Don DeRosa ...................................................................... 10

The More I Give, the More I Get! Is That Really True?By Erven Kimble.....................................................................11

Are Sel Directed IRAs Sae?By Jim Hitt ...............................................................................12

Where Do I Find the Best Direct Mail Lists?By Kathy Kennebrook ..........................................................15

Are You David or Are You Goliath?By Russ Hiner..........................................................................17

Facts About Loan ModicationsBy Kimberlee Frank ...............................................................19

How to Quickly Get 10 to 15 GoodRental Properties Paid or Free and Clear

By Larry Harbolt ....................................................................21

Three Good Ways to Find PrettyHouse Deals, Part 1o 3

By Ron LeGrand .....................................................................22

Meeting Calendar ...............................................................23

Calendar o Events ..............................................................24

Te x t TAM PA to

813 -377 -3428 to jo in our Mo b i le V I P L is t!

S tandard te x t messag ing ra tes app l y

continued on p3

800 Pund GuerillaMaretingBy Dustin Griffin

http://www.meetup.com/tampareia/

http://www.youtube.com/TampaREIA

http://www.twitter.com/TampaREIA

http://www.facebook.com/TampaREIA




Are you generating enough

motivated buyer and seller leads

each month to survive and thrive

in today’s competitive real estate

market? Are you generating at

least 30-50 leads per month rom

your marketing eorts? I not,

you should join us or our next

Tampa REIA Meeting to learn how

to generate all the leads you can

handle.

Dustin Grifn will be speaking

at Tampa REIA on Thursday,

March 14th at 6:00 PM at the

DoubleTree Suites located at

3050 N. Rocky Point Dr. West

in Tampa, FL on many o the

“800 Pound Guerilla Marketing

Strategies and Techniques” he

uses to generate leads or his real

estate investing businesses.

Come join us and learn how you

too can totally dominate your

local competition with little eort

and a relatively low budget using

new and traditional marketing

techniques, a little creativity and

the power o the Internet.

Main Mnthl Meeting

MEETING AGENDA*6:00 pm

Meet & Greet, Networking

6:30 pm

Introductions, Haves & Wants

7:00 pm

Announcements

7:30 pm

Dustin Grifn on 800 Pound GuerillaMarketing Strategies & Techniques

9:30 pmLate Night Networking at

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

800 Pund GuerillaMareting Strategies &

Techniques with Dustin Griffin

V alid Until:

1 / 1 / 2015

Member No.

1 23 4

Your Name

Gold Business Mem

ber

Doubletree Suites Tampa Bay

3050 North Rocky Point Dr West

Tampa, FL

B r i n g y o u r b i zc a r d s & f l y e r s Tampa REIA Members Can Attend

fr FREE and Guests fr $10.00.Please RSVP at http://rsvp.tampareia.cm

Du s t in G r i fn

March 14th @ 6pm




Real Estate Investor Happy Hour

Every 3rd Thursday at 6PM

with Matt & Courtney Larsen

See Website or Location

http://reihappyhour.tampareia.com

800 Pound Guerilla Marketing? cont. from p1

An “800 Pound Gorilla” is “One that is dominating or uncontrollable because of its great size and power ” or “ An overbearing en- tity in a specic industry or sphere of activity”.An 800 Pound Gorilla is “ A seemingly un-

beatable presence always to be reckoned with, whose experience, inuence, and skill threat- ens to defeat competitors with little effort.” Asthe number one home buying franchisein the country, you can see how Hom-

eVestors® denitely ts the descriptionof an 800 Pound Gorilla Marketer.

Most Gorilla Marketers have big bud-

gets and tend to use lots of traditionaland internet marketing to totally domi-nate their market and destroy their com-

petition. So how can the smaller investor

dominate their local market like an 800Pound Gorilla and do so with a limitedmarketing budget? They can use a strat-

egy called “Guerilla Marketing”.

Jay Conrad Levinson, the man whocoined the term, describes Guerilla Mar-keting as “ achieving conventional goals, such as prots and joy, with unconventional meth-ods, such as investing energy instead of money.” I dene Guerilla Marketing as “ An unconventional way of marketing intended to get maximum results with minimal resources

and a very low budget.”

So what do you get if you combine 800Pound Gorilla Marketing with GuerillaMarketing? You get what I like to call“800 Pound Guerilla Marketing” whichI dene as “the ability to totally domi-nate your local competition with littleeffort and a relatively low budget usingnew and traditional marketing, a littlecreativity and the power of the Internet.”

Since getting started in the real estateinvesting business over a 13 years ago,I have become pretty good at market-ing my business and have enjoyed shar-

ing many of the marketing methods thatwork for me and others with my fellowreal estate investors. In an ongoing ef -fort to continue to do so, I am creatinga new monthly column in The Protcalled “800 Pound Guerilla Marketing”to share many of the strategies, tips,

tools and techniques that will truly allowyou to dominate your local marketplacewith a little effort and a small marketingbudget.

Additionally, I will be speaking at theTampa REIA Meeting on ThursdayMarch 14th and will be sharing many othe “800 Pound Guerilla MarketingStrategies and Techniques” I use topromote my real estate investing businesses. I will also be teaching a full dayworkshop in Tampa on Saturday, Apri13th called “101 Plus Ways to Generate Buyer & Seller Leads” which ithe rst in a series of 800 Pound Guerilla Marketing Workshops that I wilbe teaching online and in person in

2013 and beyond for all those who wishto learn more about free or affordablecreative marketing strategies and techniques for motivated real estate investors.

Until next time, get out there and getmarketing for leads!

Comment on this article online at http://tampareia.com/?p=1789

Abut the Authr: Dustin Grifn is theExecutive Director o AtlantaREIA and Tampa REIA and

is also an entrepreneur, realestate investor, websitedeveloper, internet marketing

enthusiast and a husband andproud ather o two.

Domain Names or just

$2.99*

http://SuperSmartDomains.com

• Domain Names• Web & Wordpress Hosting

• Email & Exchange Accounts• SSL Certicates

• Marketing Tools• and much more!

*Certain terms and conditions do

apply. See website for details.

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GldMembers

$49.95

SilverMembers

$69.95

Guests$99.95

Please Note: Registrants may bring a spouse, parent oradult child or 1/2 o.

101 Plus Was t GenerateBuer & Seller Leads Wrshp

Join us in Tampa on Saturday, April 13th at 9:00 AM at

the DoubleTree Suites located at 3050 N. Rocky Point

Dr. West in Tampa, FL or to learn “101 Plus Ways to

Generate Buyer & Seller Leads” or your real estate

investing business.

Dustin Grifn is going to teach you many o the 800

Pound Guerilla Marketing Strategies and Techniqueshe uses to generate all the buyer and seller leads he

can handle and how you can too.

He is going to teach you how you can totally dominate your local competition

with little eort and a relatively low budget using new and traditional

marketing, a little creativity and the power o the Internet.

Upcming Wrshp Dates

April 13, 2013 – Tampa, FL April 20, 2013 – Atlanta, GA

To register, please visit:http://101ways.tampareia.com/

Jin Tampa REIA nwfr $100/r and attend

the 101 Plus WasWrshp fr FREE!

http://101ways.tampareia.com/















































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

Bill Cook 727-420-4810

[email protected]

www.REIOutpost.com

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

that real estate investing, especially

the act o buying and holding rentalproperty, is the surest way to nancialindependence and wealth. Bill and hiswie Kim run North Georgia REIA where

they teach others how to successully invest inreal estate.

Why Real Estate Investors

Need Constant TrainingBy Bill Cook

REAL WORLD REAL ESTATE INVESTING

Kim and I are teaching a finan-

cial calculator course later thismonth (February 23, 2013).

Yesterday, an investor called to askwhether he really needed to take thecourse. I explained that a contrac-tor’s most important tool is a hammer ,a NASCAR driver’s most important

tool is a racecar , and a real estate inves-tor’s most important tool is a financial calculator .

After a bit of discussion, the investorsaid he’d pass on the course because itwould be a waste of time. Out of curi-osity, I asked how many real estate in-

vesting seminars he attended each year.His answer wasn’t surprising: NONE!

Here’s the funny thing: Even though

I teach

a nancial calculator course,want to guess where Kim and I are thisweekend? We’re in Vegas attendingGary Johnston’s Money Not Math semi-nar – it’s a three-day intensive nancialcalculator course.

I already can make a nancial calcu-

lator sing and dance. For years, I’vetaught folks how to use them. So whydo I “waste my time” taking nancialcalculator classes? Seriously, I want you

to answer this question!

Let’s look at the bigger picture. Kimand I know a lot of real estate investorsaround the country. After getting a bitof training in the beginning, many quit

taking classes after the rst year or two.The #1 excuse they give is: “I don’thave the time.” The result is that mostjust bump along the bottom, never comingclose to reaching their full potential asinvestors and wealth builders.

On the other hand, Kim and I know

a small group of real estate investingrock stars. These folks are knocking itout of the park year after year. What’stheir secret? They, of course, meet withsellers on a regular basis – this is the al-pha and omega of successful real estateinvesting. But in addition, they con-

stantly attend seminars taught by thebest real estate investing teachers.

Think of it this way: To get a basiceducation – a high school diploma – how

many hours did you spend learning?Let’s see: 7 hours a day x 5 days a weekx 20 days a month x 9 months a yearx 12 years = 75,600 hours (and thisDOESN’T include homework and extracurricular activities).

Here’s the thing: Much of what youwere taught in school is near worthlessin the real world, and the things thatyou really needed to learn about – like how to build wealth and become nancially free – were NEVER discussed. When

did government educators decide thatwealth building was a taboo subject?

OK, off the soapbox and back to thetopic. You spent 75,600 hours getting

a basic education. How many hours did YOU spend LAST YEAR learning howto become FINANCIALLY FREE?Sadly, most Americans – the so-called99%ers – spent more time standing inline waiting to buy lottery tickets thanthey spent learning how to build wealth

Each year, Kim and I attend ten totwelve seminars. In addition, we gettogether with other real estate investorsthirty to forty times a year to discusscreative deal structuring and nancingWe’re constantly learning new and better ways to construct win-win deals.

To reach your full potential, you mustbe constantly learning – and learningfrom folks who are already nanciallyfree!








Throughout the late 1990s andearly 2000s, we experienced anunprecedented housing boom.

Easy credit ooded the marketplace andhome ownership surged to unheard of levels. Along with inating an unsus-tainable bubble, the housing boom cre-

ated a rich climate for mortgage fraud.

The bust that followed changed the nature

of the crime, but it has also provided con-

tinued opportunities for mortgage fraud.Fortunately for homeowners, there is anew wave of investigative agencies emerg-

ing that are trying to gure out just howwidespread and insidious the mortgagefraud epidemic is. Investigators hope theincreased awareness will help to educatethe general public about the threat thatthese crimes present.

The scary fact is that fraud continues at as-

tounding levels. The allure of mortgagefraud is clear - it can generate amazingprots with a relatively low risk of discov-

ery. After all, there is a byzantine mess of laws and regulations that govern the -

nance industry and keep all but the mostardent investigators from guring out ex-

actly what fraudsters are doing and howthey can be prosecuted.

Mortgage fraud schemes are particularlyresilient due to a lack of understanding of the mortgage process among the public.

There is risk coming from nearly every an-gle of a real estate transaction. Commonperpetrators include mortgage brokers,appraisers, builders, underwriters, lenders,accountants, real estate agents, attorneys,investors, trust account representatives,and title companies.

The common trait between all of thesepeople is that they have a high level of ac-

cess to the nancial documents, systems,software, notary stamps, and professionallicensure information necessary to com-

mit mortgage fraud. They can adapt tochanges in legislation and mortgage lend-

ing regulations. They are moving targetsthat keep investigators on their toes.

Forensic Audits have exposed a wide arrayof suspicious activities by nancial insti-tutions. Thanks to an increase in mediacoverage of nancial institutions, their ac-tivities are becoming more public. We are

now getting a clearer picture of how manyinvolve loan origination schemes, and howmany are settlement-related schemes.

Loan origination fraud is divided into twocategories: fraud for property and fraud forprot. Fraud for property usually involvesa single loan secured as a result of misrep-

resentations by the applicant or lender.Fraud for prot is much more complicat-ed. It often involves multiple loans andelaborate schemes designed to illegally

prot from real estate sales. Participantsare usually paid for their roles in the fraud.

In many cases, loan origination schemesinclude false documents, property ipswith phantom rehabilitation, ctitiousinvestors, fabricated trusts, reassignmentof loan documents, allonge endorsementsand promissory notes.

Illegal ipping is another popular form of mortgage fraud. This involves purchasinga property in foreclosure at a large discount

from the original note balance. But whywould a “Lender” sell the original notefor less than face value? The key to thisscheme is that the “Lender” sold the noteby entering into an undisclosed investmentcontract. This is a blatant TILA violation.

So what happens after the property is fore-

closed? Once a nal judgment is awardedto the Plaintiff, the fraud is perpetratedwhen the Plaintiff sells the property or al-lows it to be purchased by accepting a lowbid by a liquidation company.

Many frauds involve the transfer of prop-

erty without the homeowner’s knowledgeor consent; intentional failure to recordclosing documents; transferring or record-

ing of deeds without the homeowner’sknowledge; and ling of fraudulent fore-

closures to deprive the homeowner of hisor her property.

The most common perpetrators of this type

of fraud are real estate agents, attorneys, ap-

praisers, loan ofcers, builders, developersstraw buyer investors, and title companies.

In next month’s article, I will explain themethods investigators use to nd the fraudin real estate deals. All of this fraud createsa huge opportunity for real estate inves-tors. Not only can we use this informationto help underwater homeowners get outfrom under their homes but we can thenpick up houses at incredibly low prices.

If you would like more information onhow you can get involved in helping un-

derwater homeowners while doing someawesome deals, give my ofce a call at706-485-0162.


How Banks AreCommitting Fraud, Part 1By Bob Massey

Bob Massey

[email protected]

www.REWealthCoach.com

www.Facebook.com/BobMasseyOicial

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

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




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 networkingThe 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 informationalmaterial 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 114 Tampa, 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 HarboltLarry’s Weekly REI MeetupP: 727-420-4810E: [email protected]

Tampa REIa’s mIssIon is to help insure our members’ real estate success by providing extremely

afordable, 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 Real Estate Investors' Happy HourP: 813-546-5716E: [email protected]

http://facebook.com/tampareia






To Deed...Or NOT To Deed?THAT Is the Question (When

Buying Real Estate)

Welcome backagain! If you’vebeen keeping up with mylast 2 articles, you’ll remem-

ber that we’ve been discussing one of thebest strategies for doing deals in 2013 &

beyond - Wholesaling Pretty Houses!

This type of deal is most advantageous foryou, the investor, to do when you’ve comeacross a house that’s overleveraged or hasvery little to no equity. Rather than walkaway from the deal because you believethere’s no money to be made, you simplyget an agreement from the seller to nda qualied tenant buyer to occupy theproperty on a rent-to-own basis (aka leasepurchase) & have the tenant-buyer make

the mortgage payments until such time asthey’re able to buy the house outright witha new loan and there’s enough equity inthe house to justify them doing so. Youwould collect your money from the ten-

ant buyer as an assignment fee for gettingthem in to this house buying opportunitythat you’ve negotiated. Make sense?

Naturally, you would then be completelyOUT of the deal from that point on. Whywould you want to stay in? There’s nomore money to be made, so it’s best that

you collect your money (usually $5k+)and get out quickly.

So let’s take a moment to look at sometypes of deals where you WOULD wantto stay in & why.

These are some of the situations whereyou would either want to ‘Get the Deed’ orat least get control of the property by leaseoptioning or optioning the property fromthe seller...

Situation: Seller has a lot of equity inthe property & they’re willing to givea bunch of it up to you in exchange forpeace of mind, debt relief, or a fast trans-

action: These are the best deals, becausethere’s a lot of exibility.

Solution 1: You could take over theirdebt (subject-to) & give them back a

2nd mortgage for the amount over theirloan that you’ve agreed to pay (Pro Tip:Go for getting zero payments & 0% in-

terest w/ 5-year balloon, if possible).Solution 2: If the seller needssome cash now, you could givethem some cash now & the rest lat-er on when your buyer cashes out.Solution 3: If the seller HAS to cash outof his loan or must sell it outright asap,but there’s still a LOT of equity, you canOPTION the deal for as low a price as

you can negotiate, then market the prop-

erty to nd a cash buyer for as much prof -it as you can get!

Situation: Seller has little to no equity in the deal , but their house payment is super-low, and you know you can get a muchhigher amount from a tenant buyer forrent. Solution: Should be obvious - youeither get the deed from the seller or get alease option from them. Then, you simplymarket the property to nd a decent ten-

ant buyer who has enough money down

to make you happy and can easily makethe monthly payments, and you get tokeep the spread in between as cash ow!

When you think about it, it all comesdown to common sense (which I’velearned is not so common these days). Solet’s summarize, shall we?:

To Deed (Stay in the deal): If there’smoney to be made in the long run be-

cause you’re able to get a big chunk of

equity, then Get the Deed or get a leasepurchase or option agreement withthe seller.

Not to Deed (Get out o the deal): Ithere’s no equity to be gained now or lat-er AND/OR no monthly cash ow, thenthere’s NO real reason to stay in the dealSo you would simply assign the deal to

your tenant buyer, collect your fee, andget out with a smile on your face!

And now you know the answer to realestate’s eternal question - To Deed... orNOT to Deed!

Until Next Time,

Tony Pearl

Comment on this article online at

http://tampareia.com/?p=1777

The Best Deals To Do in Real Estate

in 2013 & Beyond! – Part 3By Tony Pearl

PEARLS Of WISDOm

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]

http://www.facebook.com/TonyPearl

http://www.tonypearl.com/


http://www.twitter.com/TheTonyPearl

http://www.youtube.com/TonyPearl

http://www.youtube.com/TonyPearl

http://www.twitter.com/TheTonyPearl


http://www.tonypearl.com/





REAL ESTATE RAW

Making creative offers is oneof the most lucrative skills areal estate entrepreneur can

master. Creative offers lead to creativenancing and creative nancing leads tofaster nancial freedom. I have built aportfolio of almost 400 units and I havenever walked into a bank, qualied for aloan and put money down. I have a lotof bank loans now, but I took control of

each property with some form of creativenancing and then renanced at a bank.

I did this by understanding one simpleconcept- “Solving people’s problemspays well!”

The rst step to making offers that getaccepted is to create an offer that solvesone or all of these three problems; theseller’s problems, the properties prob-

lems, your problems.

You will need to gather a bit of informa-

tion to effectively make your offer. Startby asking about the seller’s motivationto sell. Don’t always assume that moneyis the only motivation for a sale. Sellersoften have other reasons for selling suchas dealing with bad management orneed to retire. Whatever the motivationis, nding a way to solve that person’sproblem is key to writing an offer thatgets accepted. A master lease works wellfor these situations.

If the property has problems then it is adistressed asset. You need to assess thephysical situation at the property andget estimates for the needed repairs.Other problems (opportunities!) toolook for are low occupancy, bad man-

agement and differed maintenance.

Now you need make the seller realizethat they have two problems-

1. Lenders are not lending on dis-tressed assets

2. This means they are looking for anall cash offer which will be muchless than they’re asking.

Now you need to create an offer that willsolve these problems (seller nancing!).

If you are new to the business and don’thave much experience or you don’t havemuch cash, creative and seller nancingis a great way to get started in the busi-

ness. I started with one duplex and havegrown to hundreds of units by identify-

ing and solving seller problems. Look forways that you can bring value to a dealby solving problems and make that clearin your offer.

Remember… the seller has a problemand you have the solution. Always havesomething to trade!


Making Creative Offers Part 2 of a 5 Part Series

Bill Ham

Bill Ham478-718-0993

[email protected]

www.LinkedIn.com/in/BillHam1

Bill Ham has been in real estate or8 years and has created a portolioo nearly 400 units in Macon, GAusing creative and seller nancing.

http://qualityansweringservice.com/tampareia




Congratulations – you made itthrough the winter and springis on its way! I think spring is

a perfect time to take an inventory of your real estate investment “tools.” Andif you’ve been sitting on the sidelines,wondering if real estate investing is foryou, spring is also a great time to dive in!Either way, it’s a good time to get backto basics. Today, let’s focus on one of my

favorite investment techniques: “subjectto” mortgages.

Most of you know that when you buy ahouse, you usually receive a warranty deed,which gives ownership of a piece of prop-

erty. If you’re paying all cash for a prop-

erty, you just exchange the cash for thewarranty deed. So far so good.

But if you don’t have all the cash, you haveto borrow the money. Most of you know

how the typical mortgage loan works: Bud-

dy Banker says, “Sure, just sign this promis-sory note that says you’ll pay it all back.” Inreturn, you get a security instrument thatsays if you don’t pay the promissory note,the bank gets the property. In most states,that security instrument is the mortgage (InGeorgia, we use security deeds). That mort-gage, when it’s recorded, creates a lien onthe property. In other words, the bank putseveryone on public notice that if the ownersells or transfers the property, the bank hasto be paid off rst.

A “subject-to” transaction is a little differ-ent. When you buy a house this way, you’ll

take over payments on the original mort-gage. You’ll bring the house up to dateon the mortgage and back taxes and thencontinue to make mortgage payments,subject to the existing nancing. The sellergives you a warranty deed, which conveysownership to you. That means you get thetax benets and the prots, but you alsoget the headaches and costs.

There is one headache you don’t get,though: liability for the loan. Your nameisn’t on the mortgage. Of course, if youdon’t make the payments, Buddy Bankeris going to exercise the default clause inthe mortgage. In other words, he’s goingto say, “You’ve defaulted, so we’re goingto foreclose and grab that house right outfrom under you.” (Obviously, if you can’tafford the payments, you shouldn’t bebuying that property.)

But what about that “due on sale” clauseyou’ve have heard about? Most mortgagesand security deeds now have this clause,which says that if the borrower – our home-

owner – sells the house, the bank is allowedto call the loan. In other words, BuddyBanker can tell the seller he’s got to pay theentire amount of the loan – right now!

Luckily, in almost all cases, the bank couldcare less who owns the house as long asthey’re getting paid. After all, Mr. Bankeris swimming in foreclosed houses. He’d

rather have the money! And that’s whysubject-to transactions work.

Maybe you’re an experienced investor, andyou’d like a refresher course. Or perhapsyou’re just getting started. Whatever yousituation, I’d like to invite you to my twoday, boot camp called “An Introduction toReal Estate Investing – Making a FortuneBuying Houses with No Money and NoCredit” on March 23rd & 24th in AtlantaGA. This two-day boot camp will coveall the basics of subject-to investing and i

great for every skill level. Among the topics we’ll cover:

Getting started in your business, ndingsellers, negotiation, constructing and presenting offers, staying organized and managing the paperwork ow, nding privatelenders, exit strategies and much more!

Don’t let spring pass you by. Your fortuneawaits! To register for my boot camp oget more information, see http://subject2

atlantareia.com.


Don [email protected]

www.MobileRealEstateRockstar.com/Tampa REIA

www.Facebook.com/Don.DeRosa

www.Twitter.com/DonDeRosa

Don DeRosa was recognizedas one o the nation’s top 21real estate investors in theNew York Times bestseller The Millionaire Real Estate

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

Getting Started withSubject-To Transactions By Don DeRosa

“The right tool for the job” ~ slogan for True Temper Tools

Keep up to date with

our latest opportunities by

joining us on Facebook at

www.Facebook.com/TampaREIA

http://subject2.atlantareia.com/


http://screamer/Users/Daisy/Library/Caches/Adobe%20InDesign/Version%208.0/en_US/InDesign%20ClipboardScrap1.pdf

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http://www.mobilerealestaterockstar.com/Tampa







We meet at Whiskey Joe’s Bar & Grill,located at 7720 West Courtney Campbell

Causeway in Tampa, right ater our Tampa REIA Main Meeting

Join us or

LATE NITE NETWORKINGat the

Meeting-Ater-the-Meeting

http://www.whiskeyjoestampa.com

BuSINESS By ThE BOOk

The More I Give, the More I Get!Is That Really True? By Erven Kimble

Have you ever asked yourself thequestion, “how much shouldI give to my church or syna-

gogue?” This has always been a touchysubject, with many different views. Of course, the answer is always personaland depends on the person’s relation

with God; as well as their involvementwith the activities of their local churchor religious organization. The responsesand personal opinions of many success-

ful business people are as varied as theindividuals themselves.

However, the Bible has much to say aboutthis subject. The reality of the matter is thesame with all of our material possessions.God allows us to control, manage, and en-

joy our earthly belongings for a nite peri-

od of time. After that, another person willget them and be given the opportunity todo the same. You see, every material or vis-ible asset that we say… “I own ___”; willeither be consumed, traded, given away,taken away, or left behind for someone elsewhen we die. Consequently, since these as-sets are temporarily under our control, it isvitally important to consider to whom andto what cause we contribute them.

If God favors a business person to havea good education, a successful business,

nancial security, a comfortable home,and material wealth; then there is someaccountability and some responsibilitiesthat accompany those benets. If a personchooses to only accumulate material pro-

cessions just for selsh and personal gainwithout investing in God’s Kingdom or

supporting God’s agenda through gen-

erous and benevolent giving, they defeatGod’s divine plan to show compassionupon the less fortunate and to supportthe mission of His church. God wants usto show mercy and kindness to others asa demonstration of our gratitude for thatwhich He has entrusted to us. The more aperson shows helpfulness and benevolence,

the more God allowsthat person to accu-

mulate and manage

wealth.

There is another bib-

lical principle that speaks to a person’semotional attachment to possessions thatcauses them to either be generous or tocling to their material assets. Jesus ad-

monished his followers;

“Don’t store treasures for yourselves hereon earth where moths and rust will destroy them and thieves can break in and steal them. But store your treasures in

heaven where they cannot be destroyed bymoths or rust and where thieves cannot break in and steal them. Your heart will be where your treasure is.” (Matthew6:19-21)(NCV)

The true meaning here is not that you will

give to the causes that you are most fondof. On the contrary, the true meaning hereis that whatever you invest your moneyinto is where your attention and your af -fections will end up. For example, haveyou noticed that after you purchased someproperty, or bought a certain stock, or in-

vested in a store front your interest and af -fections changes. Now all of a sudden, youare more focused on what happens to thathouse, that company, or that building thatyou recently invested in.

Your time and your fondness are now inthe same place your assets. You are nolonger just a casual observer. You are re-

ally concerned about what happens to thatcompany in which you just purchased thestock. You are emotionally engaged. Inthe case where you purchased propertythat building or land now deserves and de-

mands your attention and care.

Think about this; if you give to a foreignmission group to help children in Afri-

ca with AIDS, or to a local church, or acharter school, or to the homeless, yourthoughts, your interest, your compassionwill become more in line with God’s plan. You see, God wants to demonstrate Hislove toward those less fortunate in theworld. Now that you are engaged, yourheart migrates to those things that are im-

portant to God!

You will nd yourself more excited

Your heart will

be where your

treasure is.

“The generous soul will be made rich, And he who waters will also be watered himself.”

(Proverbs 11:25-26)

continued on p13

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Larr Harblt’s WeelReal Estate Investr Meetup

Every mdy t 7:00Hibachi Bufet7610 49th St N, Pinellas Park, FL

J o i n U s a

t

fAST TRAck TO SELf-DIREcTED IRA INVESTING

FDIC InsuredAll un-invested cash in your self directedIRA is FDIC insured.

As a note, FDIC insurance only covers cashbalances, not once you make a purchaseof a non-traditional asset. All credit cardtransactions are safe -- American IRA iscertied by Security Metrics. All accountingis processed through a top-rated trust

accounting system. We maintain professionalinsurance coverage, including crime shieldpolicy and errors and omissions policy.

Asset Vesting with Your Sel Directed IRAAll assets are vested in the client’s nameat the time of purchase… “American IRA,LLC for the Benet of Client’s Name IRA”.

Investing with Your Sel Directed IRA

Investing within a self directed IRA iscompletely within the investor’s control.Is it safe? Yes, to the extent that theinvestor controls it. Here’s somethingthat’s overlooked many times whenwe’re talking about safety between thesecurities industry, and let’s say in thiscase we’re talking about the real estateindustry. Each investment has its owncharacteristics as to safety.

In the real estate investment arena,take a look at this example - $100,000

investment in 2000 inside a self directed

IRA in a single-family home. In 2012,the value doesn’t matter. The investor’snot selling the property. It may havegone up and it may have gone down.

Here’s an absolute certainty. It had 12years’ worth of rental income so far andit’s still free and clear, versus investingin securities, which are absolutely out of your control, out of the investor’s control

completely or anybody else’s control forthat matter.

With $100,000 invested in 2000 inWashington Mutual Bank, the 2012value is zero. Washington Mutual Bankwas the biggest bank in the countrywhen it failed in the early 2000’s. Thereis no guarantee in the securities industryany more than there is in the self directedindustry, but at least in the self directedindustry you have a way of controlling

your risk by investing in what you knowand understand, and you can do yourown due diligence.

Types o Investment Accountswithin a Sel Directed IRAHere are the types of investmentaccounts that you can utilize. It’s notjust an IRA.

• The Traditional IRA, which isthe one you’d be familiar with,which allows for you to make a tax

deductible contribution.

• The ROTH on the far right is theone that you hear a lot about, whichis the account that is absolutely taxfree when the prots come out atthe end. However, you do not geta deduction when you make thecontribution.

• A Spousal IRA can be either atraditional or a ROTH. The way

that works is that if you’re under50, you’re only allowed to putaway $5,000 a year. If you havea nonworking spouse, they’realso eligible for an IRA, either atraditional or a ROTH, and they toocan put away the same $5,000.

• Another type of account is anemployer based plan, which is a SEPIf you’re self-employed, we provideservicing for SEP accounts - Simplied

Employee Pension plans – which isan employer funded plan. We alsoprovide services for the simple, whichis an employee funded plan with acontribution from the employer.

• The Solo 401k, which is a plan that’sfor people who are self-employed – asole proprietor, LLC or corporation –and for people who don’t have anycommon law employees, meaningthat they don’t have anybody that’son W-2 for greater than 1,000 hours

a year. It can be a husband and wife

Are Self Directed IRAs Safe?Jim Hitt, CEO of American IRA, LLC




Tampa REIA Member Benefits

• 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 Discunts• Lowe’s – 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!

Jin Tampa REIA Tda!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

about being used to make a meaningfuldifference in the lives of other people. Mere

material possessions, that are temporaryat best, are no longer the most importantthing in your life. Your generosity will berewarded because you get back more thanwhat you give out.

The beauty of a lifestyle that helps peopleGod’s way, is the more you participate,the more passionate you become aboutthose things that are important to God.Then you nd God giving you more in or-der that you can participate more in whatHe’s doing. This offers you long term and

lasting rewards.

Thoughts to Ponder

I. Is it difcult for you to admit that;“God owns all my money and allthe assets that I possess… I ownnothing”?

II. Have you determined what church,ministry or religious organizationyou are going to support?

III. Do you sense that God wants youto become more involved in what

He is doing in the world? To whatlevel of giving are you willing tocommit?


Erven Kimble404-606-8909

[email protected]

www.Facebook.com/EAKimble

Erven Kimble is an accomplishedpastor, teacher, author, communityleader, licensed Christian Counselorand Real Estate entrepreneur. Ervenis a visionary that has aithully

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

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

that are in a business. It could be acouple of partners. The Solo 401k,provided you qualify for it, basicallyis a self directed account on steroids.It gives you so many features andopportunities that are absolutelyincredible.

• A Coverdell Education accountis an account that you can putaway for anybody. Typically it’sgrandchildren or children. That toocan be self directed.

• You can put money away in a Health Savings Account, and thatworks in many ways like a ROTH. You put the money in there, exceptyou get a deduction. You can payyour medical expenses out of it, andit comes out absolutely tax free and

you pay the medical expenses. It’s agreat tool.

The Sky’s the Limit!With the multitude of investmentaccounts available and the wealth of investment types allowed within those

accounts, the sky really is the limit whenit comes to what you can do with yourself directed retirement account.

For more information, or to explore youroptions, call American IRA today at866-7500-IRA (472). We look forwardto 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 Executive

Ofcer o American IRA, LLCand has been committed to allaspects o investing or more

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

continued from page 11

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http://atlantareia.com/membership



American IRA Wants to

be a Value Added Serviceto You or Your Business!

Contact our office for any self-directed IRA questions you have or for a free consultation

1-866-7500-IRA(472) or [email protected].

P We do business the old ashioned way.

At American IRA, we pick up the phone.

P We ofer personalized service catered to each

o our clients’ needs.

P We provide educational articles, live webinars,

and many other resources.

P We have experienced IRA instructors who are

available or speaking engagements.

P We provide joint webinars which allows you to

high-light your services.

P We provide ree copies o your webinar in CD/

DVD ormat or you to promote your services.

P We have a resource page on our website to list

your services on (certain restrictions apply).

P We are experienced in investing…

we understand your investment language.

www. AmericanIRA .com

http://www.americanira.com/
















































SARASoTAREIA .CoM

Ji u t the

SARASoTA REIA WEEkLy MEETINGEvery Wededy t n

at the Oriental Buet, 4458 Bee Ridge Rd, Sarasota, FL

mARkETING mAGIc TRIckS

This is the big question that I geta lot! The true secret to successfor a Real Estate Investor is nd-

ing sellers who really need to sell. I useseveral different targeted direct mailcampaigns to locate different types of highly motivated sellers. Some exam-

ples of these types of mailings are out of state owners, estate and probate prop-

erties quit-claim deeds, expired listings,burned out landlords, vacant propertiesand pre-foreclosures, just to name a few.

The key to success using direct mail iscustomizing your direct mail piece andyour list to reach exactly the kinds of motivated sellers you want to deal within order to create the kinds of deals youwant for your Real Estate Investingbusiness. The very best way to do thisis to locate mailing lists from reputable

companies, rening them to meet yourindividual criteria, then mailing to thesepotential sellers again and again.

Investors often neglect to market to sell-ers in this way because they think the listis too difcult to get, or they only sendthe mailings once and quit. These aresome of the easiest lists for you to obtainand it will be very protable for you todo so. After having mailed thousands of letters and done hundreds of deals I canpersonally attest to the power of direct

mail for nding all the motivated sellersyou could want.

You can contact a list broker or yourlocal property assessor’s ofce and askthem for the list, or you can create someof these lists yourself. It’s fairly easy todo. Here are just a few ideas for you. You can go to the courthouse and re-

search divorce cases, death notices, liensand judgments, tax liens, marriage li-censes, bankruptcies or Lis Pendens,

which is the rst step toward foreclosurein order to create mailing lists. Let meshare a few pointers here.

Do your homework when picking a listbroker. How current is the list? Does ithave all the information you need to cre-

ate your direct mail campaign? Does itreach the audience you are targeting?

Do a test mailing of 100 pieces to testany new list. How many responses didyou get? How many letters came backwith a bad address? How many deals didyou create?

Don’t waste your marketing dollarsmarketing to a bad list that won’t getyou the result you want.

Create continuity with your direct mail

campaigns. You can mail a lot of lettersor a few letters but you need to have aow of mail going out at all times in or-der to create a continuous funnel of in-

coming leads.

Never mail more pieces than you arecomfortable getting responses to. If youdo a huge mailing and you get tons of responses you can’t get to, you are wast-

ing marketing dollars. Put systems inplace to help you respond to the mail-ings and grow your business gradually.

Another way to nd motivated sellers isto cultivate relationships with individuals who can help you nd deals. One ofthe techniques we implemented was tocreate a specic direct mail campaigntargeting specic types of attorneys whowere much more likely to bring us dealsand we let them know we are in thebusiness of buying houses.

Once you develop relationships withthese attorneys, they will call you rstwhen they have a client who needs to sela property quickly no matter what con-

dition it’s in. This is just another way tobuild ongoing lead sources using directmail. You only have to create this directmail campaign once to create an ongoing source of leads for your Real EstateInvesting business.

If you own any kind of business and youneed certain types of leads, think aboutunique resources that can provide youwith the leads you need and create a di-rect mail campaign targeting these re-

sources. This can be really protable. Foexample; if you own an alarm companyor a lawn maintenance service it wouldbehoove you to create a direct mail cam-

paign targeting owners of propertiesin your area who live out of state. Theseare potential customers who needyour services.

Where Do I Find the Best

Direct Mail Lists?By Kathy Kennebrook, The Marketing Magic Lady

http://www.sarasotareia.com/










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 t

@http://IRCFlrida.cm

Meets n the 3rd

Thursda f eachmnth frm

5:30–9:00pm

Winter Park Civic Center

1050 W. Morse Blvd.

Winter Park, Fl 32789

FoLLoW IRC oN: www.Facebook.com/IRCFlorida

www.Twitter.com/IRCFlorida

The main reason that direct mail worksso well is that you are reaching highlytargeted leads. You become the poten-

tial seller’s rst option when they need tosell. Even if you are on a limited budget,direct mail is an excellent source of leadsfor you since you can buy more housesfrom fewer leads, thus maximizing your

marketing dollars. As your businessgrows, you can increase the number of mailings you do. You can also targetspecic neighborhoods or dominate cer-tain parts of town. In doing so, you be-

come a “property value expert” in thoseareas, which makes the offer-makingprocess that much easier for you.

You end up creating an ongoing rela-

tionship with your target market, whichmakes it easy for you to follow up withformerly inexible or unmotivated sell-

ers. Since these mailings are so targetedand so residual, there is virtually no com-

petition for these properties. It puts yourlead generating system on “auto-pilot,”leaving you more time to make offers,do more deals, and make more money.

Most importantly, be consistent in allyour efforts. The successful Real EstateInvestor has a network of people andstrategies at their ngertips at all times.If you don’t develop continuity to your

marketing campaigns, you’ll see your re-

sults begin to drop off immediately. Thisis true no matter what business you areusing direct mail to target to.

When you implement multiple tech-

niques and several different direct mailcampaigns, you will have more opportu-

nities than you’ll be able to handle andthe possibilities become almost endless.Using direct mail to develop a “cookiecutter” system to accomplish this is oneof the most affordable, reliable, and ef -

fective ways I know to build your leadbase quickly and have all the businessyou will ever need.

Be sure and check out my website atwww.marketingmagiclady.com for allthe marketing resources you need togrow your real estate investing business.While you are there be sure and sign upfor our free monthly newsletter.


Kathy Kennebrook 941-792-5390

[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 MarketingMagic Lady because she is the country’sleading real estate marketing expert on ndingmotivated sellers using direct mail.

http://ircflorida.com/











http://www.wecanbuyfast.com/





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Wr Less.

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Last month I mentioned that therehas been a turn in the market.A recent Creative Loang article

conrmed the information that I gaveyou—that the market is looking differ-

ent than it has in a long while. Manypeople are afraid of another bubble. Andin the last few articles, I’ve asked youto plan, to have a strategy, to do yourresearch. And maybe you’ve made thatplan. Maybe you’ve done that research.

But here is the nature of our business:just when you think you have it guredout, it changes. So we have to ask our-selves anew: How can I continue to makemoney? How can I get in on the currentmarket and live well? The answer is thatyou need to know what is ahead.

But if you’ve not encountered this kindof change, then you can’t make an in-

formed guess. One opportunity for suc-

cess is to become David. You can go italone which is very risky. Or you canwork smart: get a mentor. Work withsomeone like me who has survived bat-tles with Goliath before.

I know that slaying Goliath is possible.

First, let me introduce you to some of the Goliaths:

1. In a June 2012 meeting, WarrenBuffet said that he was buying as

many houses as he could get—andwe know that he can get a lot! Weare now competing with WarrenBuffet-like entities.

2. Companies like Colony America,Waypoint homes, Colony Ameri-can Homes, Blackstone Group,LLC, Silver Bay Reality, RichportProperties, Sylvan Road Capitalwho recently spent $15 million to$30 million at the steps buying

properties without ever going in-

side them.

These are entities with whom I cannotcompete. I suspect that many of you arein the same situation. We used to makeour livings at the court house steps, butnow we’re left scratching our heads.

Stop scratching and become informed:Goliath has come to town. I’ve decided

to become David, and I’d love for youto join me.

Now that we’ve identied Goliath, wehave to understand what he is doingto the market. These powerhouses arebuying good properties and paying overasking price by $4-10K. This leaves thetrash for us! Or does it? Is it possiblethat we can still nd a way to stay inthe game? Yes!

Knowledge Can Slay Goliath

Knowledge can overcome fear. So letme give you one of the many lessonsthat I offer my clients. As I’ve said, Ihave been through many types of mar-kets, so I can predict, based on thepast and on current evidence, that youshould not fear the bubble.

If you can still buy a house for less thanit takes to build it, the market has roomfor growth. This means no bubble.

If the mortgage payment is less thanit cost to rent, then there is room forprices to rise. This means no bubble.

But isn’t it still a it a seller’s market?No—there are still plenty of housesthat are upside down. This means no bubble. It is a sellers market below $400,000.

There are plenty of phantom house inthe market that will be absorbed in

hOW TO BE A REAL ESTATE INVESTOR

Are You David or Are You Goliath?

By Russ Hiner

http://mobilerealestaterockstar.com/TampaREIA
























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 privatecapital through Hedge Equity, LLC.

Russ invests everyday. His knowledge andexperience is current in the market. He iscapitalizing on the needs, wants, and desireso the customer. He has a deep level o experience in building relationships withvendors, investors, tenants, sellers, andqualied buyers. He has the knowledgeto negotiate contracts, manage rentalproperties, and make his co-investors wealthy.He enjoys taking properties which are virtuallydestroyed, renovating them, and creating abetter community.

2013-2014. This means no bubble.

So what can you do?

Situation 1: I have No money and Nocredit.

Here are possible plans:

Plan 1: Join Goliath.

Plan 2: Feed Goliath.

Plan 3: Partner with someone who hascredit or cash.

Plan 4: Buy two guns and a pit bulland work a war zone neighborhood.

Plan 5: Move to a different state or citywhere you might be more successful.

Plan 6: Move up in price point and ser-

vice the second house market.

Situation 2: I have LOTS of money,and I have Fantastic credit.

Find a David who, in this case, is a men-

tor who has slayed this giant before,and let him train you in lease optionsand creative deal structures. I happento be just such a mentor. Based on myexperience, I could help you:

• Change your marketing strategy.

• Buy before the properties get to thcourt house steps.

• Buy apartment buildings. (Doingthis is very smart because Goliathwill do this after he has gobbled upall of the single family houses. Beahim to it!)

• Buy, x, and sell homes that needrepairs in the $150K and above.

• Partner with a professional investoand reduce your risk.

You could go it alone, but it will bmore difcult, and you have less chancof being successful.

I want you to stay here, in your cityand be successful, which is why I wan

to work with you. I am a real estatecoach and a mentor, and I have thexperience to guide you through theschanges. Please contact me.

I am looking forward to meeting youand helping you on your way to a successful 2013!


keep ur Tampa REIA Membership current andenj big discunts frm these suppliers andman thers in the Cmmunit Buing Grup.

For more information, seehttp://Benefts.TampaREIA.com

http://benefits.tampareia.com/








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



Facts About Loan ModicationsBy Kimberlee Frank

Many of the Sellers that are upsidedown on their home are stressedout and don’t know what to

do. First off, I want all Sellers to knowthat when they got a loan from the banktheir money was given to the bank froman investor. This investor could be a trust,reit, or maybe the government. The bankguaranteed the investor or group of inves-tors a set interest rate. Many Sellers areattempting a loan modication hoping to

keep their house. I always ask my Sellersif could wave my wand what do you wantfrom the bank. Most of them will answerthat they want the bank to reduce theirbalance on their loan or they want a cer-

tain amount for their monthly payment.Here are some facts I want to share withthe Sellers:

1. During a loan modication the bankis still continuing with the foreclosure.

2. I have not spoken with a Seller yetthat got a reduction in the value of

their home on a homesteaded prop-erty and I have done over 500 shortsales.

3. The monthly payment the Sellerwants makes no sense. They are notconsidering how much their taxesand insurance is on the property norare they considering the interest thatwill be charged for the loan amount.Example: Seller owes $300,00,000on the loan at 4% for 30 years is$1,432.25 - Yearly Taxes are $3,000per year $250.00 a month - Insur-

ance is $1,500 per year - $125.00per month - Total monthly paymentNOT INCLUDING HOA (home-

owners association dues) would be$1,807.25. Many Sellers want a low-

er payment than this amount becausethey can’t afford it.

4. I have only seen the bank take themonthly payments that they are be-

hind plus interest, late fees and at-torney fees and add it to the end of the mortgage and/or change it to a 40year mortgage. Which would maketheir monthly payment $1,253.82on the loan plus taxes and insurancewould be $1,628.82.

Being able to discuss the above issues witha Seller will open their eyes to why a loanmodication may not even be available tothem. Let all the Sellers going throughthis difcult time that your home is whereyour heart is and may God Bless you dur-ing this difcult time.

So should a Seller do a short sale? First youneed a good negotiator working on yourle. Benets of a short sale:

1. The Forgiveness of Debt Act which

expires on December 31, 2013 al-lows Sellers who own their propertiesas homestead to waive the tax rami-cations should the bank forgive thedebt. Up to 1 Million Dollars for aSingle Individual and $2 Million Dol-lars for a married couple.

2. The Bank will report the short sale ontheir credit report as being settled forless.

3. The Sellers may receive some moneyto relocate.

4. The Sellers may not have to pay a cashcontribution or a promissory note.Again this depends on your negotia-

tor/realtor.

5. The Bank will not go after the Sellerfor the difference if you get a full satisfaction otherwise they have the rightto collect on the Seller for up to 25years.

6. The stress is gone and they have relocated into a bigger and better homemost of the time.

I would recommend that as Investors orRealtors that a Seller give their family andthemselves the gift of decision with theabove facts.

Again remind the Seller that your homeis where your HEART IS and your familywill go wherever you go.


fOREcLOSuRES GONE WILD

Kimberlee Frank 407-888-3255

[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 Real

Estate Broker teaching Investorsand 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://www.meetup.com/TampaREIA








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How to Quickly Get 10 to 15 Good RentalProperties Paid For Free and ClearBy Larry Harbolt

cREATIVE fINANcING IS kING

We are already in the thirdmonth of 2013 and I justhad a conversation with

one of my students who wanted to knowhow to create wealth in the shortest pos-sible period of time. The following ismy idea how wealth for any real estateinvestor can be created in the shortestperiod of time.

Here is an example of how you can quicklyachieve nancial freedom and then wealthinvesting in real estate.

For instance, the rst thing you need to dois buy 10 to 15 well selected income pro-

ducing properties you are willing to keeplong term as your retirement program andthe base of your future wealth. I personallylove the thought of someone else having togo to work every day to earn money theygive me in the form of rent each month

that pays for my properties without mehaving to have a job or have to go to workevery day. Then once you have boughtyour 10 to 15 keeper rental houses in goodneighborhoods, with tenants who are pay-

ing on time, every month, let’s say, $1,000each month of which $520 goes for themonthly loan payment, and after monthlyexpenses of property taxes, property insur-ance, a maintenance fund and a vacancyfund leaves you from the $1,000 gross rentapproximately $150 each month to putinto your pocket. Let’s say for each of your

keeper rental properties you paid $88,000with very little money down and were ableto get seller nancing terms for 30 years.

Then once you get those 10 to 15 housesfree and clear with no debt each month youget to keep the entire $1,000 from eachhouse, (less taxes and insurance and main-

tenance costs) leaving you about $600 to$650 from each house each month. Tenhouses at $600 each equals $6,000.00each month paid directly to you to pay

your bills. Some of you might need 15houses to achieve your goals. If you have15 houses x $600 net each month will giveyou $9,000 per month income to coveryour monthly expenses. Once you havethat much coming in each month you willhave nancial freedom, but not yet wealth.Wealth comes over time. Let me show youhow to get your properties free and clear inthe shortest period of time.

Getting Your 10 to 15 Houses Freeand Clear In a Short Period o Time

After you have your base of 10 to 15 hous-

es bought, then each year go out and buyan additional 10 to 15 houses. The addi-tional 10 to 15 houses you buy each yearcan be rehabbed and then sold. If you wereto take all of the prots from the sale of each of the additional 10 to 15 houses (af -ter paying the taxes) and use the money

you have left to pay off one or two of theloans on the houses you plan to keep andyou did this over and over for a few years,your base of rental properties would soonbe completely paid for and you wouldthen have enough income coming in eachmonth to be nancially free.

This is denitely a plausible and possibleplan to become nancially free in the short-est period of time. Once you have done thisyou will then have more time and moneyto continue to buy even more houses sim-

ply because you will have enough incomeeach month coming in so you don’t have togo to a job you hate every day.

Once all of your base of income produc-

ing properties are completely paid for andare free and clear you will probably trulybe a millionaire. If you have 15 propertiesvalued at $80,000 that are free and clearyour net worth will be $80,000 X 15 =$1,200,000. Now you are wealthy!

You Must Have a Wealth BuildingStrategy to Be Successul

This is how true wealth is created overtime. People who only wholesale propertyfor a living are not true investors -- theyreally have a job. When a wholesaler buysa property and then passes it on to anotherperson and they get paid a fee, that moneywill be quickly spent and they then have to

go out and nd another property to whole-

sale again so they can get another fee. Tome, that’s a job and I don’t want anotherjob. I want nancial success.

If you plan to be a successful real estateinvestor and create the wealth you wantit is going to be very important that youare able to recognize opportunity when itpresents itself. It took me nearly 25 yearsto gure this out for myself and thatis why I am sharing this information

with you now, so you can more quicklyachieve nancial freedom and your eventual wealth.


Larry Harbolt727-420-4810

[email protected]

www.LarryHarbolt.com

www.Facebook.com/Larry.Harbolt.7www.Twitter.com/LarryHarbolt

Larry Harbolt is the nation’s 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.




We should start with deningwhat a pretty house really is.It’s not the price that makes

the denition. The house could be high-priced, but most people in the prettyhouse business work in a range from$70-$200,000. If you’re in a high-pricedmarket such as San Francisco where a$200,000 house is rare, your range will

be higher.

The point is, pretty houses start at thebottom end and go up. It’s not just ex-

pensive houses. My denition of a prettyhouse is any house requiring less than$5,000 in work to get it in a good, sale-

able condition. An ugly house is one thatneeds a rehab or a lot of repairs.

I’d want you to work both sides of thebusiness and become a transaction engi-

neer who can recognize a deal when yousee it, whether it’s pretty or ugly. Don’tfall into the trap of trying to get so spe-

cialized that you turn your back on lots of other prots. There’s gold in both the uglyand the pretty house business. Besides…

You Can’t Find Pretties WithoutFinding Uglies And Vice Versa!

Most people start with ugly houses be-

cause they’re easy to nd and under-

stand. They either wholesale or rehab

and retail. That’s OK, but it’s only astart. Pretty houses are easy in, easy out.Usually it’s get the deed and lease op-

tion to a tenant buyer. That takes a fewdays, eliminates contractors and reducesholding costs. Plus, it produces a fewthousand dollars in front-end prot. Aperson could get used to this part of thebusiness and easily make the decision toignore the uglies.

In my opinion, that’s not a smart move.

I like a little of both. I’m about 50/50.Last month my IRA received $82,000from two ugly house deals, and thatwas only my half! I’d hate to lose allthat money because I had blinders on.So how do you nd pretty houses? Well,there are a number of ways as discussedin my boot camps. We’ll focus on threegood ones here.

Method Number One: Signs

Signs never fail to get calls-usually beforeyou get home. I’m referring to stick signsyou place on the side of the road. Theycan be put up with a 1 x 2 stake with apoint. You can buy them at Home Depotin bundles, or with a wire rack.

The good news is you’ll get calls. Thebad news is, some might be from the city

asking you to remove one or two becausesomeone has complained about them. If a call from the city will give you a heartattack, this business isn’t for you! Mostcities have ordinances against signs, butsome don’t. You’ll have to check intothat, but the bottom line is, all cities havesigns and a lot of students elect to taketheir chances knowing the most they cando is call and ask you to remove them.

I’ve heard news of some who were sub-

jected to a ne as repeat offenders, and

every once in a while I’ll hear of a citythat gets nasty. I received a letter froma city ofce in Oregon asking me to ad-

vise my students they have ordinancesagainst these signs. So there, you’ve beenadvised! I’ll bet this same city has ordi-nances against spitting on the sidewalk,sex before marriage and jaywalking.

Many students put signs out on Fridayafternoon and pick them up on Sundaynight to avoid the aggravation from the

city. This may sound foolish until youlook at the numbers. The sign cost about$3 each so if you put out 50, you’ve got$150 invested. Pick up the remaining 40on Sunday night and the cost was $30for the ten signs that come up missing…and I promise, they will.

If you get 10-15 calls over the week-

end and buy 1 house (as you should)with a $20,000 prot, it’s a no-brainerAll of the sudden, it’s worth the risk ofcity heat. In some areas, they city couldcare less and your signs have a long lifeDon’t be scared off by my warning hereDo your own due diligence and makethe best decision for you.

Most signs are on berboard, around18×24 inches. I like black letters on yellow, but have used other colors success

fully. Be careful when you make up thesign, you don’t want to put too muchdetail on it. Remember, people are mov-

ing when they see it. Make the phonenumber large and don’t forget yourwebsite address if you have one set up.


Three Good Ways To Find Pretty

House Deals, Part 1 of 3By Ron LeGrand

Ron LeGrand

800-567-6128 www.RonLeGrand.com

www.Facebook.com/GlobalPublishing

Ron LeGrand is the world’s leadingexpert in residential quick turn realestate and a prominent commercialproperty developer. Ron hasbought and sold over 2,000 single

amily homes over the past 30 years, andcurrently owns commercial developmentsin nine states ranging rom retail, ofce,warehouse, residential subdivisions andresorts.

ThE mILLIONAIRE mAkER

http://facebook.com/don.derosa

http://facebook.com/don.derosa




Tampa Area Meetingshttp://TampaREIA.com/Meetings

PLEASE NoTE: This schedule is subject to change. Visit http://TampaREIA.com/Calendarfor the most current schedu

Every Monday

(Except Major Holidays)

Larry Harbolt’s Weekly REI Meetup

7:00pm – 9:00pm

Hibachi Buet

7610 49th St N, Pinellas Park, FLLeader: Larry Harbolt – 727-420-4810

http://larrysmeetup.tampareia.com

Every Wednesday

(Except Major Holidays)Sarasota REIA Weekly Meeting

12:00pm – 1:30pm

Oriental Buet4458 Bee Ridge Rd, Sarasota, FL

Leader: Jim Willig – 941-927-0040http://sarasotareia.com

I you have a Tampa area real estate investormeeting you would like to see listed here,

contact Tampa REIA at 813-358-8050 [email protected].

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


advertie Yur Buie i The prftI you’re looking to reach the Real Estate Industry here in the Tampa Bay Area and throughout Florida, you can’t do betterthan The PROFIT. Your ad will reach more than 5,000 each monthwith your message. Our production teams are among some o the 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 Gri t 813-358-8050 r eil [email protected].

Tampa Real Estate Investrs Alliance

1st Thursday o the MonthSarasota REIA Monthly Meeting

7:00pm – 9:00pm

Bank o America1237 Old Stickney Point Rd. Sarasota, FL

Leader: Jim Willig – 941-927-0040http://sarasotareia.com

2nd Thursday o Each MonthTampa REIA Main Meeting

6:00pm – 9:00pm

DoubleTree Tampa Bay3050 N. Rocky Point Dr. West

Tampa, FL 33607Leader: Dustin Grifn – 813-358-8050

http://main.tampareia.com

3rd Thursday o Each MonthReal Estate Investors Happy Hour

6:00pm - 9:00pm

St. Pete Meeting Location Varies

See website below or details

Leaders: Matt & Courtney Larsen(813) 546-5716

http://reihappyhour.tampareia.com

3rd Thursday o Each Month

IRC Main Meeting6:00pm – 9:00pm

Winter Park Civic Center1050 W. Morse Blvd, Winter Park, FL

Leader: Chuck Burt – 407-645-3540http://ircforida.com/

Last Thursday o Each MonthNorth Port Investors Meeting

11:30am – 1:30pm

Family Table Restaurant14132 Tamiami Trail, North Port, FL

Leader: Willis Miller – 941-378-3780

http://tampareia.com/meetings/



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TAMPA REIA CALENDAR OF EVENTS

MARCH 2013SUNDAY MONDAY TUESDAY WEDNESDAY THURSDAY FRIDAY SATURDA

1 2

3 4 5 6 7 8 9

0 11 12 13 14 15 16

7 18 19 20 21 22 23

24 25 26 27 28

PLEASE NoTE: This schedule is subject to change. Visit http://TampaREIA.com/Calendar for the most current schedul

Larry Harbolt’sWeekly REI Meetup

(Pinellas Park)7:00pm – 9:00pm

Larry Harbolt’sWeekly REI Meetup(Pinellas Park)7:00pm – 9:00pm

Sarasota REIAWeekly Meeting(Sarasota)12:00pm – 1:30pm


IRC Main Meeting(Winter Park /Orlando)6:00pm – 9:00pm

REI Happy Hour(St. Pete)6:00pm –9:00pm

Sarasota REIAMonthly Meeting

7:00pm – 9:00pm

Sarasota REIAWeekly Meeting

(Sarasota)12:00pm – 1:30pm

Tampa REIA MainMeeting with GuestSpeaker, Dustin Grifn6:00pm – 9:00pmLate Nite Networkingat Whiskey Joe’s

9:30pm –Late

UpComInG HIGHLIGHTs

H maR 14 Tampa REIa mEETInG

H apRIL 11 Tampa REIa mEETInG

H apRIL 13 WoRksHop on “101 pLUs WaYs To GEnERaTE

BUYER & sELLER LEads” WITH dUsTIn GRIFFIn

North Port InvestorsMeeting11:30am – 1:30pm




the profit newsletter march 2013 for tampa reia

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