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The Profit Newsletter July 2013 for Atlanta REIA

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					                                                                                                                                            JULY 2013
                                                                                                                   Atlanta Real Estate Investors Alliance • JULY 2013




                                                                                                                                                MAIN MEETING

        Atlanta REIA’s 3rd Annual                                                                                                   Monday, July 1st

      VEndoR TRAdE Show
                                                                                                                                 Crowne Plaza Ravinia Hotel
                                                                                                                                  4355 Ashford Dunwoody
                                                                                                                                        Atlanta, GA
                                                                                                                                     5:00pm - 9:00pm
          & 3 Year Anniversary                                                                                                IN THIS ISSUE
        Celebration is on July 1st
                                                                                                                              Playing Hide & Seek with Lenders
                                                                                                                                   By Kimberlee Frank ...........................................................................2
                                                                                                                              Striking a Balance: Sucker or Scrooge?
                                                                                                                                   Don DeRosa.......................................................................................3

        Free Admission for Members & Guests!
                                                                                                                              About Atlanta REIA................................................................................4
                                                                                                                              More Marketing Mistakes Most Marketers Make
                                                                                                                                   By Tony Pearl .....................................................................................6
                                                                                                                              7 Deadly Mistakes You Can Avoid - Part 1




       T
                                                                                                                                   By Ron LeGrand .................................................................................7
             he Atlanta Real Estate Investors Alliance is very excited to announce that on                                    Atlanta Business Member Spotlight:
             Monday, July 1st at 5:00 PM at the Crown Plaza Ravina Hotel located at                                             Atlanta REIA Welcomes Sparkle Property Cleaning
                                                                                                                                   By Jeff Nix ..........................................................................................9
             4355 Ashford Dunwoody Road in Atlanta, GA, we will be having our 3rd                                             The Art Of The Conversation With Motivated Sellers - Part 1
       Annual Atlanta REIA Vendor Trade Show to celebrate our Three Year Anniversary!                                              By Kathy Kennebrook......................................................................11
                                                                                                                              Summertime is a Great Time to Buy Houses
                                                                                                                                   By Larry Harbolt .............................................................................13
       This trade show and celebration is all about YOU, our members, business members,                                       Exit Strategies
       local speakers, trainers and subgroup leaders who have supported us throughout our                                          By Michael Vazquez ........................................................................15
                                                                                                                              Are Property Values Really Rising Fast?
       very successful first three years! There will be plenty of opportunities for you to promote                                 By Mark Jackson..............................................................................16
       yourself, your deals and your business to our members and guests. Admission is FREE                                    Working Asset Protection
       for both Atlanta REIA Members and Guests.                                                                                   By Russ Hiner...................................................................................18
                                                                                                                              Using Trusts to Own Real Estate - Part 1
                                                                                                                                   By Dyches Boddiford .......................................................................19
       In addition to all our vendors, we also have a very exciting lineup of local real estate                               Be Valuable
                                                                                                                                   By Bill Ham ......................................................................................21
       investing experts who will be sharing their insights with you in a variety Round Table                                 Choosing a Great Domain Name for Your Business
       Discussions on foreclosures, short sales, mobile investing, wholesaling, negotiations, in-                                  By Dustin Griffin ..............................................................................22
       vesting strategies, legal issues, real estate market analysis, renovations, comparable sales                           Back to Back Closings: How do they Work?
                                                                                                                                   By Attorney John Maurer ................................................................24
       data and much more!                                                                                                    Your Most Important Deal. . . Keeping Your Investments
                                                                                                                               and Family on Track!
                                                                                                                                   By Jim Hitt .......................................................................................25

       Round Table discussion Leaders                                                                                         Thinking about QuickBooks 2013?
                                                                                                                                   By Karen Bershad ............................................................................26
                                                                                                                              How Pervasive is the Problem of Mortgage Fraud
                                                                                                                               and Clouded Title Issues?
                                                                                                                                   By Bob Massey ................................................................................27
                                                                                                                              The Gag Reflex
                                                                                                                                   By Bill Cook ......................................................................................29
                                                                                                                              Alert! Change in Foreclosure Law -
                                                                                                                               Reese v. Provident Funding Overturned
                                                                                                                                   By Attorney Jon David W. Huffman ................................................31
                                                                                                                              Meeting Calendar................................................................................33
                                                                                                                              Calendar of Events ...............................................................................34

                                                                                                                                                   Atlanta REIA, LLC
                                                                                                                                 2700 Braselton Hwy, Suite 10-183
                                                                                                                                         Dacula, GA 30019
                                                                                                                                P: 678-701-7160 • F: 770-216-1560
                                                                                                                                      admin@atlantareia.com
                                                                                                                                       http://atlantareia.com


© 2013 Atlanta REIA, LLC. All Rights Reserved. Quotation and reprint are not allowed without written permission of the publisher.                                                     http://AtlantaREIA.com                                 1
                                                                                                                   Atlanta Real Estate Investors Alliance • JULY 2013


       FORECLOSURES GONE WILD


                                     Playing Hide and Seek with
                                     Lenders
                                     By Kimberlee Frank



       W            orking an effective short
                    sale can seem impossible if
                    your Seller is not providing
       you with accurate information. The
       very first thing I require from all Sell-
                                                                       surance.

                                                                 10. Is there a Homeowners Associa-
                                                                     tion and if so how much? Yearly,
                                                                     Quarterly, Monthly. Are they cur-
                                                                                                                            table. If your Seller is not willing to
                                                                                                                            provide you with the above informa-
                                                                                                                            tion, then they are not as motivated
                                                                                                                            as you thought. Most of my Sellers
                                                                                                                            initially tell me that they are working
       ers is a ‘complete’ Seller Information                        rent or behind and how much in                         on a loan modification or they have
       Sheet. My Seller Information Sheet is                         arrears.                                               hired an attorney to represent them in
       customized to specifically catch every                                                                               the foreclosure action. Understanding
       pertinent fact about the Seller and the                   11. Name of               the      Homeowners              what the Sellers want will assist you in
       house.                                                        Association.                                           making your deal happen. When they
                                                                                                                            are attempting a loan modification,
       Below are several things that I need in                   12. If they pay their own taxes, how                       I ask they what they want from the
       order to review the deal and determine                        much is it and are they current                        bank. Is it a reduction of the principal
       my exit strategy as an Investor and/or                        or behind?                                             or a change in their monthly payment?
       Realtor.                                                                                                             I will walk them thru why a loan modi-
                                                                 13. What type of mortgage do they                          fication may or may not work for them.
       1. Seller(s) name, phone number,                              have on their home? FHA, VA,                           If they have an attorney involved, I ask
          email address.                                             Conventional 80/20 loan?                               “What is the attorney doing for you?
                                                                                                                            Are they doing a forensic exam to dis-
       2. Property Address.                                      14. Will they sell the house for what                      pute the paperwork or are they stall-
                                                                     they owe? If yes and it is upside                      ing to either get a loan modification or
       3. Their estimated value and how                              down, then it has to be a short                        get you more time in the home?” Un-
          they came up with that figure.                             sale. If no, then after all the debt                   derstanding their expectations of the
                                                                     is paid off including closing costs,                   attorney will help you construct your
       4. Their asking price and how they                            how much do they want in their                         deal.
          can up with that figure.                                   pocket? Once they give me that
                                                                     amount, I ask them if that is the                      Many loans have been sold off mul-
       5. Is the property listed or has it ever                      best they can do? Believe it or not,                   tiple times which may require you
          been listed?                                               they drop it even more.                                to do some investigation as to who is
                                                                                                                            holding the loan that we are attempt-
       6. Is the home vacant or occupied by                      15. What are they going to do if they                      ing to short sale. I am currently work-
          the Seller or a Tenant?                                    can’t sell the house?                                  ing a deal wherein the Sellers had two
                                                                                                                            loans on the property. Both were with
       7. If Tenant occupied, I request the                      16. Do they own any other houses?                          Countrywide and then bought by Bank
          terms of the lease, rent amount                                                                                   of America. The short sale lenders that
          and security deposit.                                  17. I will also need to know what the                      we deal with are typically the servicers
                                                                     values are on the home. I use my                       on the loan, so many times we are not
       8. Information about the house –                              MLS, ReiFax, Zillow and Trulia for                     dealing directly with the investors of
          beds, baths, square feet, lot size/                        sold comps. When looking at the                        the money. Many people don’t under-
          location, garage, construction -                           values, you should only go back                        stand this practice. The money was
          brick/stucco, pool – operative or                          90 days.                                               loaned by a group of investors, which
          not, date purchased and amount                                                                                    could be REITs or Trusts. Then they
          owed.                                                  Only after I have all this information                     give the money to the banks, who are
                                                                 am I properly equipped to structure                        servicers for their money, who in turn
       9. Lenders/liens on the property,                         a successful and profitable deal. You                      loan the money to the Sellers. The first
          amount owed, adjustable or fixed,                      skip these questions and you are asking                    loan on this deal went back to Bank
          interest rate, monthly payment                         for trouble down the road that will kill                   of America who has no knowledge that
          and does it include taxes and in-                      your deal, maybe even at the closing
                                                                                                                                                continued on p10

© 2013 Atlanta REIA, LLC. All Rights Reserved. Quotation and reprint are not allowed without written permission of the publisher.               http://AtlantaREIA.com   2
                                                                                                                   Atlanta Real Estate Investors Alliance • JULY 2013


       ThERE’S aN app FOR ThaT                                                       Join Don at Atlanta RE
                                                                                                            IA on July 1st
                                                                                        for a Round Table Di
                                                                                                             scussion
       Striking a Balance:
       Sucker or Scrooge?
       By Don DeRosa

                  “Compassion brings us to a stop, and for a moment we rise above ourselves.” ~ Mason Cooley


       A         unt Tillie is on fire! Not literally,
                 of course. She’s hot into real es-
                 tate investing. She’s got six rental
       houses, all occupied, and every tenant is
       up-to-date on the rent. At least, they were
                                                                 order for the full amount of the rent. Un-
                                                                 fortunately, she filled it out wrong and has
                                                                 to go to the bank to get a new one. This
                                                                 could be done in less than a day. There was
                                                                                                                            I’m a technology kind of guy, though, so
                                                                                                                            I don’t just limit myself to local events. I
                                                                                                                            check out the articles and forums on my
                                                                                                                            REIA website. Maybe I even start a con-
                                                                                                                            versation string myself. And I don’t stop
                                                                 little doubt that the money was coming.
       up-to-date until last month. Mr. Farkle’s                 Yet the husband started eviction proceed-                  there. I can create an Internet “turbo com-
       rent was three weeks late last month and                  ings anyway.                                               munity” by looking beyond my local chap-
       he still hasn’t paid this month. Tillie’s hav-                                                                       ter. Other chapters have a lot to offer, as
       ing a hard time deciding whether or not to                In discussing the situation, I asked the                   well as national sites like www.national-
       start eviction proceedings. She knows he’d                husband whether it mattered that the                       reia.com and www.biggerpockets.com.
       pay it if he could, but she can’t afford to               tenant was pregnant. His response:                         And don’t forget about other resources,
       give him free rent. Is it better to be kindly             “Frankly, I don’t care if she has to give                  like your place of worship. Those folks have
       and poor, or mean and rich? And are those                 birth in the parking lot. I shouldn’t have                 created turbo communities, too.
       her only choices?                                         let my wife talk me into giving her extra
                                                                 time last month.”                                          Once you’ve gathered other viewpoints,
       This balancing act – Should I be a sucker,                                                                           though, what then? How do you deal with
       or a scrooge? – is one of the toughest things             Now, I’m all about making money, and                       that late tenant?
       real estate investors have to walk through,               I don’t like being taken advantage of,
       and we have to do it on a regular basis.                  but this guy seems a little extreme to me.                 There’s no chart or graph or excel spread-
                                                                 The tenant had never been late before last                 sheet that can tell you whether to evict a
       I had a disturbing conversation recently                                                                             tenant. No website will give you the an-
                                                                 month, and she takes good care of the
       that brought this point home for me. A                                                                               swer. When it comes down to it, there’s
                                                                 place. Would I really want to risk an empty
       couple I know invests in real estate to-                                                                             only one place to find the answer, and it’s is
                                                                 house when a couple of weeks would help a
       gether. They have about a dozen rental                                                                               right in front of your face. For this kind of
       houses, and they do very well. When the                   good tenant get back on her feet?                          answer, you have to look in the mirror.
       economy tanked, though, they found
       they had to be a little more flexible about               Still, there’s that other kind of tenant. You              Comment on this article online at
       collecting rent payments.                                 know, the one who is always late, and                      http://atlantareia.com/?p=20685
                                                                 hasn’t mowed the lawn since he moved in.
       Now that the economy is looking up, the                   The one who won’t take your calls. The
       husband has decided it’s time for some                    one whose big Doberman chased the post-                      Don DeRosa
       tough love. He was never too keen on the                  man for a half a mile last week. Hey, I’m
                                                                                                                              info@DonDeRosa.com
       flexibility thing anyway, if truth be told.               all about tough love for that kind of tenant.
                                                                                                                                    www.MobileRealEstateRockstar.com/Atlanta-REIA
       In fact, his usual procedure is to start evic-
       tion proceedings on the second day of the                 The trick, of course, is figuring out the in-                      www.Facebook.com/Don.DeRosa
       month if the rent isn’t paid.                             between cases. At what point does a good                           www.Twitter.com/DonDeRosa
                                                                 Samaritan become a sucker?                                                 Don DeRosa was recognized as
       So now, one of their long-time tenants is a                                                                                          one of the nation’s top 21 real
       couple of weeks late on the rent. The ten-                When it comes to sticky issues like this, I                                estate investors in the New York
                                                                                                                                            Times bestseller The Millionaire
       ant, who has lived there for three years and              like to see how other investors strike that                                Real Estate Investor. Don, who
       usually pays early, was 18 days late last                 balance. We all come across the same situ-                                 is a full-time investor, trainer,
       month. When she called to ask if she could                ations, after all, and I want to hear what                   and mentor, is the first to offer his complete
                                                                                                                              investing system on a mobile platform. Don
       have some extra time this month too, the                  you have to say. You already know where                      teaches investors how to Make More and Work
       husband said no. The tenant, who is seven                 to find the kind of community I’m talking                    Less by being more efficient, productive and
       months pregnant, somehow got the mon-                     about: It’s your local Real Estate Invest-                   competitive, leveraging mobile technology and
                                                                                                                              apps on the iPad, iPhone, Android and other
       ey together and hand-delivered a money                    ment Association, or REIA, of course.                        mobile devices.



© 2013 Atlanta REIA, LLC. All Rights Reserved. Quotation and reprint are not allowed without written permission of the publisher.                        http://AtlantaREIA.com     3
                                                                                                                             Atlanta Real Estate Investors Alliance • JULY 2013


      Atlanta REIA’s mission is to help insure our members real estate success by providing affordable, quality real
   estate investing education; frequent, fun real estate networking opportunities; and ongoing community outreach
  programs to help build, renovate and repair homes for needy Atlanta families while improving our local community.




                                                                                                                                         2700 Braselton Hwy, Suite 10-183
                                                                                                                                                  Dacula GA 30019
                                                                                                                                        P: 678-701-7160 • F: 770-216-1560
                                                                                                                                             E: admin@atlantareia.com
                                                                                                                                             W: http://AtlantaREIA.com


             Dustin Griffin                                                      Joe Thompson                                               Aaron McGinnis
             Executive Director                                                  Leader of Haves & Wants Meeting and Speed                  Leader of the Onsite Renovation Group
             P: 678-701-7160                                                     Marketing Session                                          P: 404-788-3625
             F: 770-216-1560                                                     P: 770-403-3227                                            E: aaron.mcginnis@craftbuilt.net
             E: dustin@atlantareia.com                                           E: joethompsonjr@hotmail.com
                                                                                                                                            Steve Brown
             Christine Griffin                                                   Karen Bershad                                              Leader of Cash Cows Commercial Group
             Assistant Director                                                  Director of Membership & Leader of the                     P: 770-378-6235
             P: 678-701-7160                                                     Small Business Group                                       E: chase_sb14@bellsouth.net
             F: 770-216-1560                                                     P: 770-356-1234
             E: chrissy@atlantareia.com                                          E: karen@smallbusinessadvisor.biz                          Don DeRosa
                                                                                                                                            Leader of Mobile Real Estate Rockstars Group
             Jeff Nix                                                            Leslie Mathis                                              P: 678-410-7352
             Director of Business Membership                                     Leader of Atlanta REIA West                                E: donderosa5@gmail.com
             P: 678-776-8861                                                     P: 678-895-1460
             E: jeffnix@gmail.com                                                E: lesliemathismentor@gmail.com                            Rock Shukoor
                                                                                                                                            Leader of I Love Marketing Group
             Gordon Catts                                                        Reginald Jackson                                           P: 678-938-4776
             Director of Programs, Leader of Movers & Shakers,                   Leader of Atlanta REIA South                               E: realrateb@gmail.com
             Atlanta REIA South & Mountain REIA                                  P: 404-427-8797
             P: 404-454-3567                                                     E: reginald_j_2002@yahoo.com                               Bob Massey
             E: cattsgr@yahoo.com                                                                                                           Leader of Short Sale & Foreclosure Group
                                                                                 Russ Hiner                                                 P: 706-749-9141
             Alan McDonald                                                       Leader of Creative Deal Structuring Group and              E: info@rewealthcoach.com
             Director of AVS & Leader of the Beginning                           Mastermind Group
             Investors Group                                                     P: 404-660-4289                                            Mark Galey
             P: 770-369-0446                                                     E: russ@rhiner.com                                         President of Fuller Center of Atlanta
             E: mcdonaldalan9@yahoo.com                                                                                                     P: 404-867-3258
                                                                                                                                            E: mark@magnetconstruction.com
  LEGAL DISCLAIMER: Atlanta 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 reflect the views, policies and                                                  Aislee Jackson
  opinions of Atlanta REIA, LLC or any of its members and sponsors, nor does mention                                                        Director of Savannah REIA
  of certain trade names, products, services, individuals or organizations imply endorsement                                                P: 912-695-0665
  by Atlanta REIA, LLC or its members or sponsors. The information presented in this                                                        E: aislee@aislee.com
  publication is made available for informational purposes only and is not to be construed
  as financial or legal advice which should only be obtained through a competent attorney,
  accountant or other qualified professional advisor. Atlanta REIA, LLC does not pre-qualify,                                               Maggie Groholski
  evaluate, endorse, guarantee or warranty any particular deal, service, company, or person.                                                Leader of Forensic Real Estate Group
  Atlanta REIA, LLC recommends you perform your own due diligence and seek appropriate                                                      P: 770-527-9559
  legal, accounting, or other professional advice before making any investment. Atlanta
  REIA, LLC disclaims any and all liability for any actions or inactions taken by readers of                                                E: mgroholski@me.com
  this informational material or as a result of communications from or to its officers, directors,
  employees, contractors, partners, members, sponsors and affiliates.




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© 2013 Atlanta REIA, LLC. All Rights Reserved. Quotation and reprint are not allowed without written permission of the publisher.                           http://AtlantaREIA.com         4
       Main Monthly Meeting
                Atlanta REIA’s 3rd Annual
                                                                                                                                Crowne Plaza Ravinia Hotel
                                                                                                                                 4355 Ashford Dunwoody
                                                                                                                                       Atlanta, GA


           VEndoR TRAdE Show
                  & 3 Year Anniversary                                                                                         3rd Annual
                Celebration is on July 1st                                                                                    Vendor Trad
                                                                                                                                          e
                Free Admission for Members & Guests!                                                                            Show with
                T                                                                                                              Round Table
                       he Atlanta Real Estate Investors Alliance is very excited to announce that on


                                                                                                                               Discussions
                       Monday, July 1st at 5:00 PM at the Crown Plaza Ravina Hotel located at 4355
                       Ashford Dunwoody Road in Atlanta, GA, we will be having our 3rd Annual
                Atlanta REIA Vendor Trade Show to celebrate our Three Year Anniversary!

                                                                                                                              MEETInG AGEndA*
                This trade show and celebration is all about YOU, our members, business members,
                local speakers, trainers and subgroup leaders who have supported us throughout our
                very successful first three years! There will be plenty of opportunities for you to promote
                yourself, your deals and your business to our members and guests. Admission is FREE                           3:00 pm: Meeting-Before-the-
                for both Atlanta REIA Members and Guests.                                                                     Meeting at Total Wine & More

                In addition to all our vendors, we also have a very exciting lineup of local real estate                      4:00 pm: Vendor & Event Setup
                investing experts who will be sharing their insights with you in a variety Round Table
                                                                                                                              5:00 pm: Doors Open, Trade Show
                Discussions on foreclosures, short sales, mobile investing, wholesaling, negotiations, in-
                vesting strategies, legal issues, real estate market analysis, renovations, comparable sales                  Begins, Networking
                data and much more!                                                                                           6:00 pm: Announcements & Speed

            Round Table discussion Leaders
                                                                                                                              Marketing Session
                                                                                                                              7:20 pm: Giveaways & Door Prizes
                                                                                                                              7:30 pm: Round Table Discussions
                                                                                                                              with Local REI Experts
                                                                                                                              9:30 pm: Late Nite Networking at the
                                                                                                                              Tilted Kilt Perimeter




                                                                                                                              *Please Note: Meeting agenda is subject to change.




                                                                                                                                                             Bring y
                                                                                                                                                                    o
                                                                                                                                                            cards & ur biz
           Your Name                                                                                                                                                 flyers
           Gold Busines
 Valid Until:
                       s Member
                    Member No.         Atlanta REIA Members & non-Members Can Attend
                                        at no Charge. Feel Free to Bring a Guest for FREE!
                    1234
 1/1/2015




© 2013 Atlanta REIA, LLC. All Rights Reserved. Quotation and reprint are not allowed without written permission of the publisher.                        http://AtlantaREIA.com    5
                                                                                                                   Atlanta Real Estate Investors Alliance • JULY 2013


       pEaRLS OF WISDOm



       More Marketing Mistakes
       Most Marketers Make
       By Tony Pearl




       W             elcome back! If you’re joining
                     us from last time, you’ll re-
                     member that we talked about
       the “Biggest Mistake Most People Make
       in Their Lead Gen Marketing”. Wheth-
                                                                 Here’s 5 More Common Market-
                                                                 ing Mistakes Most People Make:
                                                                 1. Not Getting Your Marketing
                                                                    Message Out Where Your
                                                                                                                            3. Only Paying Attention to Either
                                                                                                                               OFFLINE Or ONLINE.
                                                                                                                            Just as it’s important to serve the ever-
                                                                    Prospects Can See It.                                   growing ONLINE community, you’d be
       er you’ve read it or not, I’ll just re-cover it                                                                      shooting yourself in the foot if you forgot
       here, so that we’re all on the same page.                 Once you’ve written at least a halfway-                    about all the people who are OFFLINE!
                                                                 decent marketing piece (using the advice                   I know it’s hard to believe, but there’s
       The biggest mistake is that most people                                                                              still a TON of people who don’t use a
       try to SELL something too early in the                    from above), you then need to get that
                                                                 message OUT and in front of the eyes that                  computer. There’s even more people
       process, rather than just get the prospect                                                                           who don’t know how to use it the right
       (reader) curious enough to take action                    will benefit from what you’re offering. It
                                                                 won’t do anyone any good if you can’t get                  way! Even if some of your prospects have
       and request more information.                                                                                        a computer, they may not know HOW
                                                                 the word out about what you do. Even a
                                                                 crappy out blasted out all over the place                  to FIND YOU! Right?
       Most of the time, we want them to either
       call us or fill out a form on our website.                will make more money than a brilliant ad
                                                                 only seen by a few people (in most cases).                 So get your marketing message out to
                                                                                                                            them, too. The last I heard, Bandit Signs
       By simply getting them to take that                                                                                  and Direct Mail still work very, very
       ONE, easy action - The First Step, you                      “He Who Has a Thing To Sell, and
                                                                      Goes and Whispers in a Well,                          well. Target your market & get your
       give your sales process the chance it needs                                                                          signs up and your letters out.
       to succeed. Of course, after the first                     Will Never Make As Many Dollars As
       step has been taken, the second and third                  He Who Climbs a Tree and Hollers!”
                                                                                                                            4. Forgetting What I Just Taught
       steps are next. These steps should be a                                                                                 You.
       natural progression down a “slippery                      Remember that.
       slope” that eventually leads to you                                                                                  In the opening paragraphs, as well as
       closing the sale/deal.                                    2. Not Getting Your Marketing
                                                                    Message Out To Enough Places.                           the last article in this column, I told you
                                                                                                                            that the biggest mistake most people
       For example, after you get your prospect                                                                             make is to try and SELL the prospect
                                                                 These days, your prospects are everywhere.
       to call you, you would have someone                                                                                  right away. Please remember that that
                                                                 Online and offline. Me personally, I’m a
       answer the phone, and pleasantly ask                                                                                 ain’t gonna happen 99 times out of
                                                                 very technologically-oriented kinda guy. I
       a few questions to get the appropriate                                                                               100. Your first ad should simply arouse
                                                                 do most everything online. When I need
       information from your prospect in order                                                                              enough curiosity and give them a strong
                                                                 something, I go clickety-clack on my
       to see if you can help them. If they fill                                                                            enough benefit (reason WHY) they
                                                                 keyboard to find what I’m looking for.
       out a form (name & email) on your                                                                                    should take that first action and request
       website, your next step might be to take                                                                             more information from you... by calling
       them to the next page, where you deliver                  More and more people are doing the
                                                                 same. So you should be able to be found                    or filling out the form, etc.
       your Special Report/Video, then offer
       them more information in exchange for                     online - in as many places as possible! Do
                                                                 some research to find what your potential                  5. Not Doing Anything.
       getting the rest of the information you
       need, such as phone number, location                      prospects are doing to find people like you
                                                                 online. And build several pieces of virtual                I saved the best for last. Listen, the easiest
       of their property, ARV, Repairs, etc., so                                                                            thing for anyone to do is nothing. Just curl
       that you can follow up with them later.                   real estate to have them find you.
                                                                                                                            up in a ball and blame the world for all
                                                                 For example, put up an optimized website (or               your troubles. A lot of us have been there
       Make sense? Great! So, with that out of                                                                              - especially over the past few years, when
       the way, let’s now take a closer look at some             2 or 3). Build a FACEBOOK Fan Page or 2.
                                                                 Get yourself listed in a few online business               real estate and the economy in general
       other marketing boo-boos & blunders that                                                                             were both crumbling like a cookie.
       most marketers make, shall we?                            directories. That’s huge. Put up some
                                                                 ads on Craigslist. Take out some online
                                                                 Classified Ads. You get the idea.                                            continued on page 12

© 2013 Atlanta REIA, LLC. All Rights Reserved. Quotation and reprint are not allowed without written permission of the publisher.                  http://AtlantaREIA.com    6
                                                                                                                   Atlanta Real Estate Investors Alliance • JULY 2013


       ThE mILLIONaIRE maKER



       7 Deadly Mistakes
       You Can Avoid – Part 1
       By Ron LeGrand




       O          ver the last 23+ years, I’ve
                  known many investors and
                  entrepreneurs. I’ve seen every
       possible scenario, from overnight success
       to plodding, sit-on-your-butt-and-do-
                                                                 1. Lack of focus. I define focus as con-
                                                                    centrating only on the work you must
                                                                    do to succeed in your business, avoid-
                                                                    ing all distractions and not getting
                                                                    side-tracked by every “great idea”
                                                                                                                            2. Getting into the rental business
                                                                                                                               before your cash-flow needs are
                                                                                                                               met. Boy, did I ever get tangled up
                                                                                                                               in this one. When I first got started
                                                                                                                               with real estate, I decided to buy all
       nothing failure. I’ve known people who                       that pops up. It’s not easy. The world                     the rental property I could. I fig-
       would get off to a great start, and then                     we live in today is filled with things                     ured with a lot of tenants in a lot
       fade away, and some who would piddle                         that beg for our attention. We live                        of houses, the cash would just fall
       around and never seem to get anywhere.                       in what’s being called the “Informa-                       into my lap every month, right
       I’ve known those who made a very suc-                        tion Age”, and that’s great except
       cessful living and even a few who be-                        all this bombardment of information                        Wrong. It was the biggest single
       came super wealthy.                                          makes it hard for most of us to sift                       mistake I made for a very simple rea-
                                                                    through the junk and come up with                          son – I just wasn’t ready. Like yours
       Is there a magic formula for success? I                      the good stuff. That’s why most of                         truly, many beginning real estate
       wish I could tell you there was. It could                    us have a problem staying focused                          investors get into the rental business
       have saved me a whole lot of headaches                       – even when we’re trying to con-                           because they think it’s some kind of
       over the years. And having the copyright                     centrate on something we know will                         quick path to wealth. But it’s not.
       on that formula would have made me                           make us wealthy. There are a mil-                          It’s slow and long-term. Soon af-
       an awful lot of money. Unfortunately,                        lion ways to make a million bucks                          ter I built my “rental empire” back
       there’s no more magic in being success-                      and every day a new avenue for riches                      in 1982, I discovered that my daily
       ful than there is in anything else worth-                    is presented to us. But I’ve learned                       cash flow needs were not being met.
       while in life.                                               through trial and error (lots of error)                    I had a huge amount of capital tied
                                                                    that the only way to make something                        up in equity and a thin stream of
       However, from years of experiencing my                       work is to filter out everything else                      income. And I had a family to feed
       own successes and failures, as well as wit-                  and stick with what I know works.
       nessing those of others, I have identified                                                                              Don’t get me wrong, I’ve got noth-
       a few mistakes that can short-circuit an                      I get frustrated when I see people with                   ing against rental property as an in-
       entrepreneur’s rise to fortune. I’ve com-                     tremendous potential for this business                    vestment. I’ll probably have them
       piled a list of the most common road-                         get off track with a so-called “get-rich                  until the day I die. However, if you
       blocks you’ll face on the road to becom-                      quick” scheme (and there are a lot of                     don’t have a cash cushion built up,
       ing a successful real estate entrepreneur.                    them – just watch a little late-night                     you’d better get really good at buy-
                                                                     television). If you dabble in one busi-                   ing properties dirt cheap. But even
       Now, you may be one of the fortunate                          ness, jump to another then try some-                      when you do, you’ll discover a million
       few, and never find yourself faced with                       thing else completely different, you’re                   ways to spend down your cash flow.
       any of these problems, and that’s great.                      not likely to be successful at any of it.
       More likely, you’ll recognize parallels in                    Focus takes work, determination and                       Busted toilets, leaky roofs, paint, car-
       your own situation in what I’m about to                       discipline. Sometimes it hurts. Like                      pet, yada-yada-yada, it all eats great
       discuss. My goal here is to put you in a                      when you have to say no to your fam-                      big holes in your income stream.
       position where you can identify these pit-                    ily so you can go out and make them                       Even if you do have enough ready
       falls. Then, when you encounter them                          five or ten thousand dollars when you                     cash to get into the rental game,
       (and you will), you’ll be armed with the                      could be watching Seinfeld re-runs                        you need to know what you’re do-
       ability to direct yourself around them and                    at home. Believe me, when your in-                        ing. For instance, do you know about
       get back on track . . . immediately. You                      creased income starts showing up in                       “professional tenants” who make a
       won’t have to worry about these things                        trips to Disney World, new clothes,                       living “getting over” on landlords?
       hindering you from achieving your goals.                      cars, etc., your spouse and kids won’t                    These creeps know the landlord ten-
       So, let’s dive in and go down the list.                       have a problem with it.                                   ant code and eviction laws inside out


© 2013 Atlanta REIA, LLC. All Rights Reserved. Quotation and reprint are not allowed without written permission of the publisher.                 http://AtlantaREIA.com   7
                                                                                                                   Atlanta Real Estate Investors Alliance • JULY 2013



          and they can make your life a living                   next issue. Don’t miss it. I’m just gettin’                           Atlanta REIA
          hell before you finally get them out
          of your house. If you want to become
                                                                 warmed up.
                                                                                                                                     Member Benefits
                                                                                                                              • AtlantaREIA.com Website, Blog and Member
          a professional landlord, you’d better                  Comment on this article online at                              Only Area
          understand how the game is played                      http://atlantareia.com/?p=20714                              • Affordable, High Quality Educational
          and get the education necessary to                                                                                    Workshops & Seminars
          deal with all the potential problems.                                                                               • Fun, Frequent Networking Opportunities
                                                                   Ron LeGrand                                                • Weekly Special Interest Groups Meet
          Bottom line, my advice is this: Make                     800-567-6128                                                 Around Town
          some fast cash by quick-turning a few                         www.RonLeGrand.com                                    • Lunch & Learn Subgroup Meetings
          houses before you get yourself mired                                                                                • Wine & Dine Subgroup Dinner Meetings
                                                                        www.Facebook.com/GlobalPublishing
          down with rentals. Get into some                                                                                    • Atlanta REIA Main Monthly Meeting &
          low risk, high-return deals before                                 Ron LeGrand is the world’s leading
                                                                                                                                Vendor Tradeshow
                                                                             expert in residential quick turn
          you start piling up equity and deal-                               real estate and a prominent                      • Learn From Home on Our Monthly
          ing with tenants. Then, when you                                   commercial property developer.                     Webcast Series
          do become a “Super Landlord,” your                                 Ron has bought and sold over                     • Members Can Watch Webcast Replays
          chances of retiring on your rental in-                   2,000 single family homes over the past                      24/7/365 on AtlantaREIA.com
                                                                   30 years, and currently owns commercial
          come will be much better.                                developments in nine states ranging
                                                                                                                              • Atlanta REIA Subchapter Meetings
                                                                   from retail, office, warehouse, residential                • Community Outreach Programs
       Well, I see I’ve ran out of space, so I’ll                  subdivisions and resorts.                                  • Haves & Wants Speed Marketing Session
       continue this list of roadblocks in your                                                                                 and Weekly Meeting
                                                                                                                              • Monthly Atlanta REIA “The Profit” Interactive
                                                                                                                                eNewsletter
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                                                                                                                                Articles & News
                  Keep your Atlanta REIA Membership current and                                                               • Volunteer Opportunities
                   enjoy big discounts from these suppliers and                                                               • Member Discounts on Workshops

                   many others in the Community Buying Group.                                                                 • Member Discounts from Local & National
                                                                                                                                Vendors
                                                                                                                              • And much, much more!

                                                                                                                                      Atlanta REIA
                                                                                                                                    Member discounts
                                                                                                                              • Lowe’s – Save up to 7% to22%
                                                                                                                              • Sherwin Williams Paint – Save 30% to 40%
                                                                                                                              • Sherwin William Flooring – Save on
                                                                                                                                Carpet, Vinyl, Delivery and Installation
                                                                                                                              • Sears Commercial – Save 4%-15% on all
                                                                                                                                Appliances
                                                                                                                              • Nu-Set – Save on Locksets, door hardware,
                                                                                                                                security & lock boxes
                                                                                                                              • Build-A-Sign – Save 15% on Signs, Banners,
                                                                                                                                and Magnetics and other products and get
                                                                                                                                Free Delivery on all orders
                                                                                                                              • And much, much more!




                                                                                                                              Join Atlanta REIA Today!
                                                                                                                              http://AtlantaREIA.com/Membership
                                                                                                                              Become a Member of Atlanta REIA for
                                                                                                                              as little as $100/year. Businesses can
                                                                                                                              join for as little as $150/year. See our
                                                                                                                              Membership Application in this issue
                                     For more information, see                                                                of The Profit or visit...
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© 2013 Atlanta REIA, LLC. All Rights Reserved. Quotation and reprint are not allowed without written permission of the publisher.                     http://AtlantaREIA.com    8
                                                                                                                   Atlanta Real Estate Investors Alliance • JULY 2013


       BUSINESS mEmBER SpOTLIGhT



                                        Atlanta Business Member Spotlight:
                                        Atlanta REIA Welcomes Sparkle Property Cleaning
                                        By Jeff Nix, Director of Business Membership




       H         ave you recently bought a prop-
                 erty and need to ready it for ten-
                 ants? Can’t sell your property
       because it’s not ‘market’ ready? Having
       trouble finding reliable contractors? Spar-
                                                                 Dorothy's Best
                                                                 Tips to Prepare
                                                                 Your Property for
                                                                 a Quicker Sale

       kle Property Cleaning can help you save                   A large percentage of
       time and money as your “One-Stop Prop-                    home buyers decide
       erty Cleanup Shop!”                                       whether or not to look
                                                                 inside a house or take
       Sparkle Property Cleaning, LLC spe-                       it seriously based on
       cializes in the clearing out and clean-                   its curb appeal, the view they see when                    •       Mow the lawn. Get rid of the weeds.
       ing up of rental, for sale, and foreclo-                  they drive by or arrive for a showing. You
       sure real estate properties in Metro                      can help make sure they want to come in-                   •       Rake and dispose of leaves, even if
       Atlanta. Sparkle is fully licensed and                    side your house by investing some time or                          your lot is wooded.
       insured for your protection. Work-                        money on its exterior appearance.
       ing with investors, realtors, landlords,                                                                             •       Trim low hanging tree limbs and
       mortgage companies, and REO divi-                         Most buyers cannot visualize changes,                              those near or touching the home's
       sions of banks, Sparkle assists in getting                and often won't take a second look at                              roof.
       properties back in shape and ready for                    a house if the first look doesn't appeal
       a faster sale or rental. Sparkle offers in-               to them. Home buyers who can visual-                       If you brainstorm, you'll find that there's
       terior and exterior services that include;                ize changes, and are prepared to make                      a solution to most problems—one that
       debris removal, minor repairs, paint-                     them, expect you to reduce the price of                    lets you stay within your budget. The
       ing, boarding windows & doors, locks                      the house to compensate for the work                       trick is to find the areas where improve-
       changed, white-glove cleaning, lawn                       they plan to do. Tackle clean up and re-                   ments are needed, then work on them as
       maintenance, pressure washing, gutter                     pair chores first, then put some time into                 best you can.
       cleaning, and documentation (digital                      projects that make the grounds more at-
       & still photos). On time, every time,                     tractive.                                                  Call Lamont and Dorothy today for a
       Sparkle Property Cleaning can be on                                                                                  free estimate and any questions you
       your job in 24-48 hours – Guaranteed!                     •     Kill mold and mildew on the house,                   may have: 678-212-1024. You can
                                                                       sidewalks, roof, or driveway.                        also reach us via email info@Spar-
       Sparkle Property Cleaning, LLC is led                                                                                klePropertyCleaning.net or visit us
       by Lamont and Dorothy Griggs, a hus-                      •     Clean windows and gutters.                           online at www.SparkleProperty-
       band and wife team with over 20 years                                                                                Cleaning.net.
       working with small businesses in the real                 •     Pressure wash dirty siding and din-
       estate field. They are both accounting                          gy decks.                                            Comment on this article online at
       degree graduates of Howard University.                                                                               http://atlantareia.com/?p=20690
       They are also real estate investors and                   •     Edge sidewalks and remove veg-
       understand how vital property cleanup                           etation growing between concrete
       is to increasing your bottom-line.                              or bricks.




                                                          Keep up to date with our latest videos by subscribing to our YouTube Channel
                                                          www.YouTube.com/AtlantaREIA
© 2013 Atlanta REIA, LLC. All Rights Reserved. Quotation and reprint are not allowed without written permission of the publisher.                   http://AtlantaREIA.com   9
                                                                                                                   Atlanta Real Estate Investors Alliance • JULY 2013


           continued from page 2

       there is a second on the property as the                  the front page of the mortgage or use                      Company. I would also recommend
       servicers don’t pull title work. And if                   the sellers name, social security num-                     having a relationship with more than
       you are not pulling title work well in                    ber and zip code of property. With the                     one Title Company, as their rules and
       advance of closing your deals, then you                   help of MERS I was able to find that                       regulations change.
       can expect some harsh last minute sur-                    the second mortgage is with Ocwen.
       prises. Please be proactive on this, I                                                                               I look forward to providing you with
       want to see you closing deals, not los-                   In a worst case scenario, if it’s not a                    future tips so stay tuned or join me at
       ing deals! The second loan was given                      MERS loan and the seller has been out                      my next boot camp.
       to Litton Loans but is no longer active                   of the property for over a year, you can
       and was given to a collection agency.                     have them submit a new change of ad-                       Happy Negotiating!
       That is where the trail goes cold. I                      dress with the post office which only
       have sent an authorization to the col-                    lasts for 1 year. That way, all commu-                     Kimberlee Frank
       lection agency and they are going to                      nication from the unknown party(ies)
       research who has the loan.                                will come to them again.                                   Comment on this article online at
                                                                                                                            http://atlantareia.com/?p=20705
       Do you remember when 60 minutes                           Again, you must always, always have
       had busted the banks for Robo sign-                       title work pulled first thing on your
       ing of documents? If not, you need                        short sale deals. This tells you upfront
       to google www.60minutesovertime.                          if you are going to have any challenges
       com and look up Robo signing. Mort-                       with additional liens. The title com-
       gage Electronic Registration Sys-                         pany will conduct a search going back
       tems, Inc. (MERS) is an American                          40 years to expose any liens or encum-
       privately held company that operates                      brances. They also conduct a name
                                                                                                                              Kimberlee Frank
       an electronic registry designed to track                  search. The name search will pull                            407-888-3255
       servicing rights and ownership of mort-                   up any outstanding credit card judg-                         Kimberlee@ForeclosuresGoneWild.com
       gage loans in the United States. When                     ments, civil judgments (child support                              www.ForeclosuresGoneWild.com
       a lender assigns their rights to MERS,                    liens) or any other liens. On my par-
       no information is given to the public as                  ticular deal, there was a child support                            www.Facebook.com/ForeclosuresGoneWild
       to who now owns the loan. However,                        lien. Although the names were similar,                             www.Linkedin.com/in/KimberleeFrank
       you are able to find out who is the ser-                  in this case, the lien did not belong to                           www.Twitter.com/KimberleeFrank
       vicer just by going to www.mersinc.                       my Seller. If it did, I would have had                                   Kimberlee Frank is a Master
       org and click on “information for                         to also short sale that lien.                                            Negotiator who has closed over
                                                                                                                                          600 deals since 1998. She is a
       homeowner” and then “my mortgage                                                                                                   Mentor, Trainer, Author and Real
       info.” Then click the “online” link                       The best advice that I can give you                                      Estate Broker teaching Investors
       and you have several options to locate                    on any deal is to have your team                             and Realtors how to creatively purchase and
       which lender is servicing the loan. I                     player ready that will work with you                         sell short sales with her Step-by-Step System.
                                                                                                                              She has helped Investors and Realtors earn
       would recommend that you put in the                       and do whatever is necessary to close                        hundreds of thousands of dollars.
       MIN number which you can find on                          this deal. In this case, it is my Title




                 Atlanta REIA Member only website
                                               http://atlantareia.com/members-only
                  H Webcast Replays                                   H Member Downloads                                  H Audio Courses
                  H Workshop Replays                                  H Member Bonuses                                    H Membership Logos
                  H Member Discounts                                  H eBooks                                            H Online Lead Finder
                                                                      H eCourses                                            Software




© 2013 Atlanta REIA, LLC. All Rights Reserved. Quotation and reprint are not allowed without written permission of the publisher.                    http://AtlantaREIA.com    10
                                                                                                                   Atlanta Real Estate Investors Alliance • JULY 2013


       maRKETING maGIC TRICKS




       The Art Of The Conversation
       With Motivated Sellers - Part 1
       By Kathy Kennebrook, The Marketing Magic Lady




       O          ne of the concerns many of
                  my students seem to run into
                  is; once they find the deal,
       what do they say to the motivated sell-
       ers? How should that conversation go?
                                                                 come more ready than not, and by be-
                                                                 ing more ready, your chances of a suc-
                                                                 cessful conversation with your seller are
                                                                 greatly increased. Readiness is not just
                                                                 a practical matter; it is a state of mind
                                                                                                                            eral times. Fortunately we all had a good
                                                                                                                            chuckle over it.

                                                                                                                            So how do we get past these jitters? And
                                                                                                                            how do we get ready for these all impor-
       On top of these concerns, many of my                      that affects our emotions and feelings of                  tant conversations with motivated sellers?
       students say they are not really comfort-                 preparedness. When you feel more ready
       able with having a conversation with                      to have a conversation with a motivated                    Be sure to read part two of this article
       a stranger, so how do they handle that                    seller, you begin to relax, creating a more                next week when I share many ideas to
       conversation? How do you get over                         comfortable atmosphere and leaving you                     get ready for these all important con-
       the “jitters”?                                            with fewer things to worry about.                          versations with sellers and get your
                                                                                                                            deals made!
       Okay, so you’ve practiced what you are                    Having conversations with motivated
       going to say, you have a plan, you have                   sellers is an art can be practiced. With                   In the meantime, be sure to visit my web-
       your paperwork, you’ve probably pro-                      the right approach, it doesn’t have to be                  site at www.marketingmagiclady.com
       crastinated a little, then scheduled your                 scary or unnerving. In fact the conver-                    where you can find many tools I have
       appointment with the seller, so now                       sation with the sellers and the making                     available for buying and selling proper-
       what? You still feel those butterflies in                 of the deal should be fun, exciting, chal-                 ties quickly for your Real Estate Invest-
       your stomach and you’re still not com-                    lenging and fulfilling, knowing that you                   ing business. While you are there be sure
       fortable with how the conversation with                   are helping this motivated seller solve                    and sign up for our FREE Monthly News-
       the seller is going to go. What should                    whatever problem they are having that                      letter and receive $149.00 in Free Invest-
       you say first? How should you make the                    necessitate them selling their property.                   ing Tools.
       offer? What if they ask you something
       you don’t know? What if they accept                       But sometimes it just seems like there                     Comment on this article online at
       your offer? What if they don’t?                           are “demons” hiding out, just waiting                      http://atlantareia.com/?p=20703
                                                                 to turn a normal, intelligent person
       Being “ready” or prepared is a relative                   into a quivering bowl of jello. When we
       term. Just because you don’t feel quite                   get in front of the seller, we stutter, we
       ready or totally comfortable dealing with                 mumble, we keep changing the subject,
       this motivated seller face to face to make                anything to steer away from the mat-
       the deal doesn’t mean you shouldn’t just                  ter at hand. And worse still, we start to
       jump right in there and do it. You ab-                    sweat, our hands begin to shake, and our                     Kathy Kennebrook
       solutely should!! Believe me, I under-                    memory of what we were going to say                          941-792-5390
       stand this concept first hand after hav-                  just fades away and we forget important                      KPaddler@ATT.net
       ing many conversations with motivated                     facts we wanted to share.                                          www.MarketingMagicLady.com  
       sellers. And it only gets easier every time                                                                                  www.Facebook.com/Kathy.Kennebrook
       you do it, especially when the seller is                  Let me share a scenario where I had an
                                                                                                                                         Kathy Kennebrook is a speaker,
       truly motivated.                                          appointment with a motivated seller and                                 author and has been actively
                                                                 drove around the block four times before                                investing in real estate since 1999,
       I believe that there are definitely some                  turning into the seller’s drive-way, just                               Kathy currently resides in Bradenton,
       things you can do to get prepared for                     to try to calm the jitters I was having. I                              FL and is known as the Marketing
                                                                                                                              Magic Lady because she is the country’s
       a conversation with a motivated seller,                   ended up buying the property and later                       leading real estate marketing expert on finding
       especially if you haven’t done it before.                 on the sellers mentioned to me that they                     motivated sellers using direct mail.
       With adequate preparation you can be-                     had seen me going around the block sev-


© 2013 Atlanta REIA, LLC. All Rights Reserved. Quotation and reprint are not allowed without written permission of the publisher.                     http://AtlantaREIA.com     11
                                                                                                                   Atlanta Real Estate Investors Alliance • JULY 2013


           continued from page 6                                 In closing, I’d like to remind you
                                                                 that there are a few great tips in this
       But doing nothing won’t solve your                        article about how you can avoid some
       money issues. It won’t make things                        commonly-made marketing mistakes.
       better. And most of all, if you do nothing,               But again, the real “Biggest Mistake”
       you’ll be missing out on all the FUN you                  would be to not do anything. Hey, mistakes
       could be having by working and helping                    are going to happen. You can’t avoid
       people who truly need your unique skills                  them, no matter how hard you try or how
       and talents... and the services you can                   many of my great articles you read. But
       provide them.                                             just do the best you can to avoid writing
                                                                 big checks, making promises you can’t
       So write your ad. Get it out there. Get                   keep, or personally guaranteeing debt,
       on the phone and talk to people. Make                     and you should be just fine!
       some offers.
                                                                 Until Next Time, I’m...
       Even though my last 2 articles talked
       about NOT making mistakes, perhaps                        Wishing You Success,
       the REAL Biggest Mistake is to Not Do
       Anything. Don’t be afraid to fail!                        Tony Pearl

       As a smart guy once said, “You don’t
        have to get it right, you just have to                   Comment on this article online at
                    get it going!”                               http://atlantareia.com/?p=20719




                                                                                                                                      30
       I remember a few years ago, when I
       first started experiencing success in real                  Tony Pearl
       estate investing. I was young, hungry,                      202-556-0670
       and knew just enough to be dangerous.                       Tony@TonyPearl.com
       But I took massive ACTION by putting
                                                                       www.TonyPearl.com 
       up ads everywhere I might be able to
       get a deal. I talked to banks & actually                        www.Facebook.com/TonyPearl



                                                                                                                                     MINUTES
       got them to believe me! I made offers                           www.Twitter.com/TheTonyPearl
       on houses I had no idea what to do                              www.Youtube.com/TonyPearl 
       with. Some deals worked out and some
       didn’t. But I kicked up a big cloud of                                  Tony Pearl  is an entrepreneur,
                                                                               copywriter, proud father, mentor,
       smoke and improvised along the way.
       And when the dust settled & the smoke
                                                                               marketing consultant and
                                                                               talented teacher who resides                    LIVE ANSWERING SERVICE
       cleared, I’d closed a bunch of deals... and
                                                                                                                                   + Voicemail
                                                                               in the Washington, DC area. He
                                                                   has traveled to over 26 countries, speaks 4
       was a millionaire!                                          languages, and continues to travel extensively.
                                                                   He has been a professional Ballroom and Latin                 + Virtual Faxing
       It was the most terrifying, exciting, and
       fun time in my business career. I made
                                                                   dance instructor, competitor, and exhibitor for
                                                                   over 19 years. As a Real Estate Investor, Tony             + 24-7 Live Operators
       friends, rubbed elbows, and earned the                      has bought and sold over Ten Million dollars
                                                                                                                              + Online Management


                                                                                                                                      $30
                                                                   worth of real estate, and has been educated by
       respect of people who were WAY above                        and associates with the best.
       me. Why? Because I took action.
                                                                                                                                    Only



                                     Join us for
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© 2013 Atlanta REIA, LLC. All Rights Reserved. Quotation and reprint are not allowed without written permission of the publisher.                 http://AtlantaREIA.com   12
                                                                                                                   Atlanta Real Estate Investors Alliance • JULY 2013


       CREaTIvE FINaNCING IS KING


       Summertime is a
       Great Time to Buy Houses
       By Larry Harbolt



       H           ello fellow investors,

                  Now that summer is officially
                  upon us it’s time to do some
       serious thinking how to maximize our
                                                                 the houses were ridiculously high priced. I
                                                                 wanted area’s where working class families
                                                                 who could qualify for a mortgage want
                                                                 to live. I needed houses that had good
                                                                 curb appeal and a floor plan that was well
                                                                                                                            I bought the properties at the right price
                                                                                                                            or with good terms I could sell or rent and
                                                                                                                            make the deal affordable for the buyer
                                                                                                                            or the renter and still make a very good
                                                                                                                            monthly cash-flow.
       profits over the next several months in                   designed for a family with several children.
       the most effective ways. A few years ago                  I wanted houses in good areas where there                  This is an excellent strategy for any
       I noticed another investor I knew who                     weren’t too many senior citizens. Area’s                   investor looking for a specific type of
       became very intensively busy starting in                  where families with children already                       buyer or renter where you can buy houses
       late March and early April. One day while                 live. I found senior citizens in nice, quiet               in good area’s where you will have many
       we were having lunch I asked him why he                   neighborhoods with children playing in                     buyers who want to live in good areas.
       did most of his deals in the summer months.               the streets all hours of the day and evening               Just remember, start looking in the spring
       He gave me a very well thought out and                    don’t work well together.                                  so you will have as many houses ready to
       profitable explanation of his strategy, why                                                                          sell during the summer months before the
       he used it and how profitable, if done right,             It is a proven fact that these parents who                 new school year starts.
       his strategy could be.                                    are more concerned with their children’s
                                                                 education start to think about moving                      Happy Investing,
       With so many schools continually receiving                into school districts that have higher
       poorer evaluations, for many parents                      scholastic scores about the time the                       Larry
       sending their children to good schools is                 school year is about to end giving them
       becoming more and more important in                       the entire summer to find a new house                      Comment on this article online at
       today’s world. My friend explained that                   to live in where they want to live. As an                  http://atlantareia.com/?p=20707
       as the school year draws to a close and                   investor I needed to buy the houses for
       summer is quickly approaching that many                   these families in March and April to give
       parents start to look for areas with the best             me time to fix them and get them ready                       Larry Harbolt
       school accreditations to send their children              for these families to move into as soon as
                                                                                                                              727-420-4810
       and find a house to rent or buy. Once he                  the school year ends. From my years of
       explained what he was doing I started                     experience repairing houses I know for a                     LarryHarbolt@Gmail.com
       looking for three and four bedroom houses                 fact that to have a house ready to sell to                         www.LarryHarbolt.com
       in the best school districts where I could                a family who can qualify for a loan takes                          www.Facebook.com/Larry.Harbolt.7
       buy houses affordably I could fix and rent                approximately 4 months from the day I                              www.Twitter.com/LarryHarbolt
       or fix and sell to these families. I started              buy the house until the day I go to closing                             Larry Harbolt is the nation’s leading
       looked for houses in those area’s that                    to sell the house. If I had a family who                                creative Seller Financing expert as
       needed some cosmetic work done to them                    wanted to rent my house I knew it would                                 well as a popular national real estate
                                                                                                                                         speaker and teacher whose time-
       that I could buy at an affordable price or                take approximately 3 months from the                         tested strategies and nuts and bolts teaching
       with terms that would allow me to make a                  day I buy it until I could move a qualified                  style has helped thousands of aspiring real estate
                                                                                                                              entrepreneurs realize their financial dreams
       monthly profit no matter what I did with                  tenant into my house. I’ve done too many                     with little or no money and without the need
       the houses, rent or sell.                                 houses over the years to know my time-                       for credit. Larry has been successful creatively
                                                                                                                              buying and selling real estate for over 30 years
                                                                 frames are pretty close to reality.                          and has written numerous popular articles and
       My criteria for the houses I wanted to buy                                                                             real estate courses. Larry also has been running a
                                                                                                                              meetup group in St Petersburg, FL for real estate
       were, 3 and 4 bedroom houses in more                      The houses you buy must be affordable                        investors for over 13 years.
       upscale neighborhoods, but not where                      for the buyer or the renter and provided

                                                  Join us on Meetup and RSVP for the meetings
                                                               you will be attending.
                                                             www.MeetUp.com/AtlantaREIA
© 2013 Atlanta REIA, LLC. All Rights Reserved. Quotation and reprint are not allowed without written permission of the publisher.                       http://AtlantaREIA.com     13
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mcherwenka@aol.com H www.goldmineproperties.net
                                                                                                                   Atlanta Real Estate Investors Alliance • JULY 2013


       FROm CONTRaCT TO CLOSING




                                                         Exit Strategies
                                                         By Michael Vazquez




       W             hen in real estate, a person
                     has to learn to adapt to any
                     situation. In order to do this,
       you must have the knowledge to do so. In
       real estate you can try to “fake it til you
                                                                 One deal was great but the wholesaler
                                                                 was marketing it all wrong. He was try-
                                                                 ing to fit a square peg into a round hole
                                                                 by trying to pitch this deal as a rental
                                                                 with a marginal ROI. He was asking
                                                                                                                            of inquiries and the phone would not
                                                                                                                            stop ringing but no contracts. After 15
                                                                                                                            days, I decided to reevaluate the deal.
                                                                                                                            It turned out that a few properties had
                                                                                                                            sold and made this property an amazing
       make it” but sooner rather than later you                 for a $2,000 fee. It had the potential to                  investment opportunity. While continu-
       will be discovered. To prevent embarrass-                 make more so I contracted the property.                    ing to market the owner finance I also
       ment and improve your odds of success                     I closed on this property with the inten-                  began to market to investors, showing
       learn, learn and learn some more!!                        tions of repairing it and selling it retail.               the potential profit after renovations.
                                                                 Because I closed on the deal in a week I                   Still, I had no contracts coming in. Fi-
       A great example of this is a new whole-                   still did not have all the contractors lined               nally, I decided to call every real estate
       saler with very little to no guidance or                  up and ready to go, as I should have.                      agent that had sold a house in the area
       training. They post ads, signs and hands                  While waiting on the final bids, I de-                     and pitched them the property. In a
       out cards claiming they will buy your                     cided to list the property in an attempt                   week I received a call, out of the blue,
       house cash without any the ability to                     to line up a retail buyer before complet-                  from an agent who had an interested
       do so. Now, let’s say that he/she is able                 ing the renovations. I also offered the                    buyer with an all cash offer, no owner fi-
       to convince someone to sell them their                    property at a discount if purchased as-is.                 nance needed. Again, I could have given
       property and was savvy enough to get a                    An investor decided to make me an offer                    up but instead I adapted to the situa-
       due diligence period built in. The whole-                 where he knew he would make money.                         tion. I am not accustomed to working
       saler is excited that he/she finally has a                Fortunately for him, his offer made me                     with very low income properties but I
       property under contract. But is it a deal?                enough of a profit to sell. Although I                     figured out who was and closed the deal.
       With very little guidance or training, the                had planned to renovate the property, I
       likelihood of the property being a decent                 gave myself another possible exit strat-                   When you plan make sure to include con-
       deal, much less a good deal, is very slim.                egy and it worked out for the best.                        tingency plans. It is better to think “what
       The wholesaler’s only exit strategy was                                                                              if?” than waiting until it is too late and
       to wholesale the deal. If he cannot ac-                   Another property I contracted and had                      working on “what now?” In both cases a
       complish then the deal is dead. You can                   planned to owner finance did not work                      profit was made and more importantly
       make money being a “one trick pony”                       out as planned either. The down pay-                       they were all win-win situations.
       in real estate investing but the more you                 ment I was requesting covered the pur-
       know the more you make.                                   chase price of the home plus a bit more                    Comment on this article online at
                                                                 for all my hard work. The remaining                        http://atlantareia.com/?p=20712
       In the last few months I ran across a                     balance was profit plus interest on that
       few wholesalers with this exact issue.                    profit spread over a few years. I had tons


                                                                                                                              Michael Vazquez
                                                                                                                              678-951-9222
                                       Join us at the
            haves & wants Meeting
                                                                                                                              MichaelP.Vazquez@Gmail.com
                                                                                                                                        Michael Vazquez has been
                                                                                                                                        offering properties to real
                        Every Thursday at 1:30pm                                                                                        estate investors significantly
                                                                                                                                        below market value since
                   @ 5 Seasons Brewing located at                                                                                       2006 in both Texas and Georgia.
            5600 Roswell Rd in Sandy Springs at the Prado.                                         PRAdo                      Michael is always looking for more
                                                                                                                              investors to work with. 



© 2013 Atlanta REIA, LLC. All Rights Reserved. Quotation and reprint are not allowed without written permission of the publisher.                 http://AtlantaREIA.com   15
                                                                                                                         Atlanta Real Estate Investors Alliance • JULY 2013


       appRaISER SECRETS FOR REaL ESTaTE INvESTORS



                                  Are Property Values
                                  Really Rising Fast?
                                  By Mark Jackson



       I    recently read an article which stated…
            “If you thought that all you wanted
            was skyrocketing appreciation on
       your home or investment property, then
       one real estate ratings firm is warning you
                                                                 tutional investor demand…is keeping the
                                                                 supply-demand balance…even more pro-
                                                                 nounced.”

                                                                 The ratings agency spotlighted California
                                                                                                                                    REIA.CoM
       to think again.” At REIAComps.com,                        as a state where the recovering market’s
       along with its Property Valuation Support                 fast pace could present a problem. The                                   Meets on the
       and Training, you will know the truth for
       yourself. Let’s continue with that ratings
                                                                 same can be true in your home state as
                                                                 well. California home prices have risen 13                            2nd
       firm… According to a new report from
       the data analysis firm, recent home price
                                                                 percent year over year despite employment
                                                                 crunches in many parts of the state. If em-                         Thursday
       gains may be “too rapid” and contributing                 ployment does not soon catch up to hous-                                of each Month
       to a “market imbalance that could eventu-                 ing, this new bubble could burst, analysts
       ally stall or reverse the positive trend.” The
       firm warns that in some markets an “artifi-
       cially” constrained supply of homes for sale
                                                                 warn. In San Francisco, home prices are up
                                                                 22.2 percent year over year, and are only
                                                                 going higher thanks to “restricted supply
                                                                                                                                     6:00–9pm
       is keeping prices high even though buy-                   and heightened demand.” Lastly, the rat-                            Doubletree Suites Tampa Bay
       ers do not actually have the wherewithal,                 ings firm says that more and more bor-                              3050 North Rocky Point Drive
       as a population, to sustain these purchase                rowers are likely to move to the sidelines in
       prices. Also they added that “strong insti-               areas where the recovery is “too rapid” in
                                                                                                                                           West Tampa, FL
                                                                 order to wait for prices to stabilize.

                                                                 Do you think that there is any such thing
                                                                 as a recovery that is too rapid? Using
                                                                 REIAComps.com will put you in a posi-
                                                                 tion to know if your market area is “crying
                                                                 wolf” or is there a potential problem in the
                                                                 works? Let REIAComps.com show you
                                                                 the lambs from the wolves.
           Domain Names for just                                 Comment on this article online at                                   Subscribe to The Profit
                  $2.99
         http://SuperSmartDomains.com
                                              *                  http://atlantareia.com/?p=20709


                                                                    Mark Jackson
                                                                                                                                    Newsletter for Tampa at
                                                                                                                                  http://Subscribe.TampaREIA.com

                  • Domain Names                                    678-318-1773 Ext 5

                                                                                                                                        FoLLow
             • Web & Wordpress Hosting                              MJ@MarkJackson.me
            • Email & Exchange Accounts                                 www.REIAComps.com
                  • SSL Certificates                                            Mark Jackson is an appraiser,
                                                                                real estate investor and property                    TAMPA REIA on:
                  • Marketing Tools                                             valuation specialist who teaches
                 • and much more!                                               others to get more out of their real
                                                                                estate investing business. In 1999,                   www.Facebook.com/TampaREIA
                                                                    Mark founded an appraisal company and soon
           *Certain terms and conditions do                         found his true gift was analyzing property values
                                                                                                                                      www. Youtube.com/TampaREIA
             apply. See website for details.                        for real estate investors. Since 2000, has closed                 www. Twitter.com/TampaREIA
                                                                    millions of dollars’ worth of his own domestic
                                                                    and international real estate transactions. Mark’s                www.Meetup.com/TampaREIA
                                                                    passions are: faith, family, golf and real estate.



© 2013 Atlanta REIA, LLC. All Rights Reserved. Quotation and reprint are not allowed without written permission of the publisher.                  http://AtlantaREIA.com   16
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                                                                                                                   Atlanta Real Estate Investors Alliance • JULY 2013


        hOW TO BE a REaL ESTaTE INvESTOR
                                                                                                                                                                 Join Russ
                                                                                                                                                     Atlanta REI            at
                                                                                                                                                                A on July 1s
                                                                                                                                                        Table disc           t for a Rou
                                                                                                                                                                   ussion an             nd


                                        Working Asset Protection
                                                                                                                                                    Creative d                 d at the
                                                                                                                                                              eal Structu
                                                                                                                                                                           ring Meeti
                                                                                                                                                               on July 10               ng
                                                                                                                                                                         th.

                                        By Russ Hiner



        R        ecently, I heard a talk show host
                 say that all properties should have
                 their own LLC and that a corpo-
        ration should own all of the LLCs so that
        it will be the umbrella under which the
                                                                 would you or anyone else pay extra when
                                                                 you can do better?
                                                                 Let’s look at asset protection. When I
                                                                 find a property worth buying, I often
                                                                                                                            2. Make a trustee an LLC/ corporation.
                                                                                                                            3. Have the trustee take out a loan on
                                                                                                                               behalf of the trust in an amount more
                                                                                                                               than the value of the property.
        LLC’s are safe.                                          have another corporation/ friend/ parent/
                                                                 relative write a mortgage on it for twice as               4. Make the beneficiary of the trust is
        .Let me offer another point of view that,                much as the property is worth then file it                    an LLC.
        after years of experience, I can say has                 at the court house as a lien. Money must                   5. Make the LLC owned by a corporation.
        worked for me and for people whom I                      exchange hands for this to be feasible. This
        coach on a daily basis.                                  way, a lawyer looking to make a quick                      The above information is important to
                                                                 buck will pass over your property because                  have. I have experience and know how
        The reality is that an LLC for each property             he will see that the properties are over                   it can work best for YOU. You can go it
        is impractical. The main reason is that each             leveraged. In part, this works because the                 alone and work harder than you need to,
        LLC would have it own tax return. This                   entity cannot be one that you own more                     or you can utilize my expertise.
        gets costly and tedious.                                 than 50% of.
                                                                                                                            Interested in working smarter and not
        Compromise is the solution: Why not                      But what if a lawyer does take notice? The                 harder? If so, contact me using the
        have a 3-in-one LLC that covers the good,                key is to keep two LLCs that you are not                   information below.
        the bad, and the ugly? Hear me out--an                   using. First benefit banks will not loan to
        LLC is good because if someone tries to                  an LLC that is younger than 2 years old,                   Comment on this article online at
        sue, by law the person has to take all or                so having an LLC already set up, allows                    http://atlantareia.com/?p=20717
        nothing; he cannot cherry pick. If you                   you to move things around when one
        have a property that you just bought and                 LLC looks like it might become a target.
        it turns out to be a liability, it will balance          Plus you can then start taking out loans.                     Russ Hiner
        out the GOOD property. And, the UGLY                     Being proactive never hurts. Beware if the                    404-660-4289
        is a property whose cash flow is barely at               attorney does file the suit and you have                      Russ@RHiner.com
        fair market value.                                       freshly transferred the property then the                          www.RHiner.com
        If I am doing the buy, fix, and sell, this is            court nullify the transfer then you still are
                                                                                                                                    www.Facebook.com/1RHiner
        an easy system. If the LLC is for long term              on the hook.
                                                                                                                                           Russ has been investing in real
        holds and all the properties are “great”,                Another strategy is to place the property                                 estate in Atlanta Georgia since 1981.
        then I have a chance to lose everything in               first into a Fiduciary Land Trust. This                                   His company currently controls
        that LLC. In this case, I create another LLC.            gets your name off of the record. It is best
                                                                                                                                           apartment buildings and single-
                                                                                                                                           family properties in Georgia and
        But, you say, an accountant will not allow               to make the attorney your trustee, but                        other states. His focus is on raising private capital
        the LLC to flow through your income tax                  it can also be your entity if you own less                    through Hedge Equity, LLC.
                                                                                                                                  Russ invests everyday. His knowledge and
        statement. Not true: there are accountants               than 50%.                                                     experience is current in the market. He is
        who do. Hire an accountant that does! (See               I coach people in real estate every day. I see                capitalizing on the needs, wants, and desires of
        below for referrals.)                                                                                                  the customer. He has a deep level of experience
                                                                 them become successful every day. Here is                     in building relationships with vendors, investors,
        Personally, I love real estate because of                what I offer them for consideration when                      tenants, sellers, and qualified buyers. He has
                                                                 they begin thinking about LLCs:                               the knowledge to negotiate contracts, manage
        the tax benefits and the exciting things                                                                               rental properties, and make his co-investors
        you can do to make money. Why would                      1. Utilize a Fiduciary Land Trust.                            wealthy. He enjoys taking properties which
        I pay extra taxes? The question is, why                                                                                are virtually destroyed, renovating them, and
                                                                                                                               creating a better community.




                 u Na eme
               YoBurness Mmber
                                                  Become an Atlanta REIA Member TodAY!
                                                   http://AtlantaREIA.com/Membership
               Goldsi
                      Member No.
     Valid Until:     1234
     1/1/2015




© 2013 Atlanta REIA, LLC. All Rights Reserved. Quotation and reprint are not allowed without written permission of the publisher.                         http://AtlantaREIA.com        18
                                                                                                                   Atlanta Real Estate Investors Alliance • JULY 2013


       aSSETS 101


       Using Trusts to Own
       Real Estate – Part 1
       By Dyches Boddiford




       I    t is impossible to outline a single set
            of guidelines for due diligence, but
            here is a basic checklist, in no par-
       ticular order, to begin your due diligence
       with a deal presented by another investor
                                                                 entities, such as partnership aberrations, to
                                                                 include family limited partnerships and
                                                                 limited liability companies. The quest is
                                                                 to keep what you have accumulated and
                                                                 to have some extended control of it, even
                                                                                                                            owed on the $50,000 not excluded. The
                                                                                                                            estate disagreed, claiming that the 5 con-
                                                                                                                            tingent beneficiaries did have an interest
                                                                                                                            in the trust. The trust had a Crummey
                                                                                                                            power and, in accordance with that power,
       (referred to as offeror here). No money or                after death.                                               the trustee had given written notice to all
       commitment should change hands until                                                                                 7 beneficiaries of their right to withdraw.
       you have satisfied at least this preliminary              A perfect example of using ingenuity to                    Thus, the full $70,000 was excludable.
       checklist. After all, you spent a significant             keep one’s assets away from the grips of
       period of time making your hard-earned                    the tax man was a trust established by Ma-                 This means that multiple-beneficiary
       money; don’t throw it away in 30 minutes.                 ria Cristofani in 1984. Maria established a                trusts now can be used to expand the fit-
       Unfortunately, this happens all too often.                trust and transferred to it real estate with               tax exclusion. It took someone with a tol-
       In many cases with experienced investors                  a value of $70,000. The primary beneficia-                 erance for risk to mix old law, and an old
       who should know better.Every business                     ries were her two children and, as contin-                 trust entity with a new way of looking at
       that seeks to grow and achieve success has                gent beneficiaries, 5 grandchildren should                 the old to save Maria’s family substantial
       a detailed business plan. Any real estate                 the two primary beneficiaries die within                   wealth.
       entrepreneur that expects cash flow and                   120 days of Maria. All was fine until Ma-
       asset growth in any reasonable time period                ria died and the IRS audited her estate tax                Over the years trusts have been used ex-
       should have a detailed plan as well.                      return.                                                    tensively in the attempt to control how
                                                                                                                            much the government inherits. Some of
       High Taxes and aggressive litigation are                  Naturally, the IRS wanted more money.                      the more familiar trust names include: By-
       today’s motivators. Tax risks range from                  They claimed that Maria failed to file a                   pass Trust; Marital Deduction Trust; Gen-
       income tax to draconian death taxes that                  gift tax return and owed back gift taxes.                  eration Skipping Trust; Grantor Retained
       consume up to 55% of the assets a person                  The IRS argued that Maria was entitled                     Income Trust; Insurance Trust; etc. The
       leaves behind. Trusts are often used along                to give $10,000 per year to the two pri-                   common thread for all of these trusts is to
       with more modern adaptations of other old                 mary beneficiaries, but that taxes were                    legally avoid paying the majority of the de-




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© 2013 Atlanta REIA, LLC. All Rights Reserved. Quotation and reprint are not allowed without written permission of the publisher.                   http://AtlantaREIA.com   19
                                                                                                                   Atlanta Real Estate Investors Alliance • JULY 2013


       ceased’s wealth to the government. Failure                and the total value of real estate owned.                  prepares the original trust and it can be
       to act is to assure that the estate will pay              Why? Because contingency fee lawyers                       duplicated for additional use. The fee to
       the highest possible tax.                                 will not spend the time and money to go                    have a knowledgeable attorney prepare a
                                                                 after someone with minimum assets. They                    land trust can range from $300 to $1,000.
       A NEED FOR PRIVACY                                        look for the ‘fatted lamb’.                                Some of us do our own trusts, but a great
       Real Estate Investors often use trusts as                                                                            deal of knowledge must be obtained be-
       business devices. It is hard persons never                LAND TRUSTS                                                fore you consider doing this. There are
       being in business to understand, but busi-                A result of this attack is a defense sys-                  no additional expenses, such as franchise
       ness can be war. There is an ever growing                 tem. Trusts are used by some investors as                  fees or income tax returns. A land trust is
       number of enemy soldiers attempting to                    a key part of their defense. The most com-                 reported on the beneficiary’s tax return
       invade and plunder the investor’s castle of               mon trust used in real estate investing is                 as if the beneficiary personally owned
       wealth. Sometimes this is accomplished by                 referred to as an Illinois style land trust.               the property.
       out and out illegal means, such as thieves                The primary purpose is to remove the legal
       that rob and destroy property or those who                title from the investor’s name. The title is               Comment on this article online at
       embezzle by not paying rent. The cruelest                 held in the name of a trustee and the inves-               http://atlantareia.com/?p=20687
       enemy is he who uses the law to plunder.                  tor is both the grantor and the beneficiary
       Today, lawsuits are treated as a lottery.                 to the trust. the trust does not offer the
                                                                 same kinds of protection a corporation or
       Enemy troops look for excuses to sue; it                  limited liability company can, but it has a
       is nearly a guaranteed profit. If a person                place in the castle’s defense and is the most                Dyches Boddiford
       can find some excuse to sue, even if very                 economical of all entities to set up and                     DB@Assets101.com
       flimsy, the defendant will almost always                  maintain.                                                      www.Assets101.com
       settle for at least a few thousand dollars                                                                                        Dyches Boddiford is a full
       because it is cheaper to settle than to in-               Legal advisors often recommend trusts be                                time investor who speaks from
       cur the cost of legal defense. It has become              used in conjunction with other business                                 experience in a variety of real estate
                                                                                                                                         areas. His seminars and conferences
       so bad that in some cities, such as Buffalo,              entities assuming the amount of wealth in-                              are intended for the serious real
       NY, unscrupulous people publish lists of                  volved is sufficient to justify the cost of the              estate investor, though entrepreneurs in other
       landlords and divulge such things as the                  business entity. Trusts, on the other hand,                  businesses or investments will find his training
                                                                                                                              helpful as well.
       number of properties, the number of units                 are usually very economical. An attorney




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© 2013 Atlanta REIA, LLC. All Rights Reserved. Quotation and reprint are not allowed without written permission of the publisher.                      http://AtlantaREIA.com     20
                                                                                                                   Atlanta Real Estate Investors Alliance • JULY 2013


       REaL ESTaTE RaW




       Be Valuable                                                                                                            SAVAnnAh
                                                                                                                              REIA.CoM
       By Bill Ham




       O         f all the creative financing tech-
                 niques I use to build my busi-
                 ness, the one that made me the
       most money and will make you the most
                                                                 •     Experience- once you have done a
                                                                       few deals, then create a resume or
                                                                       credibility kit for yourself. This will
                                                                       help you network with confidence.
                                                                                                                              http://SavannahREIA.com
       money is the art of being valuable. Cre-                                                                                         Meets on the
                                                                                                                              3rd Thursday
       ative financing is one of the fastest ways                •     Know your market- expert knowl-
       to get started in the real estate business.                     edge of a market is highly valuable
       This can include things such as seller                          and free to get. Spend some time
       financing or a master lease option. No                          learning your market. When inves-
                                                                                                                                       of each Month
       matter what tactics you use, it always                          tors come to your area you will be
       comes back to creating value for your
       buyers.
                                                                       able to partner with them based on
                                                                       your market knowledge.                                       6:30pm–9pm
       The first thing you want to do when you                   •     Key relationships- build relation-
       are getting into business is to decide what
       it is you bring to the table. What things
                                                                       ships with the top agents, brokers
                                                                       and sellers in your area. These rela-
                                                                                                                                       LOCATION
       do you have that others will value? Once
       you figure out where your worth is then
                                                                       tionships are gold!                                              TBA ON
       you must decide how you will trade that                   •     These are just some areas that you                     SAVANNAHREIA.COM
       worth for what you want. In most cases                          should focus on to become more
       you are trying to trade your value for en-                      valuable. There are obviously too
       try into a real estate deal but remember,                       many to list here but you get the
       the real estate business is more than just                      idea. Gather the skills that make
       closing a deal. There is partnerships, pri-                     you valuable and then trade those
       vate money, experience etc. All of these                        skills or “sweat equity” for the ac-
       things have value and you will want to                          cess to deals and partners that will
       focus on gaining as many of these skills                        ultimately make you a highly suc-
       as you can.                                                     cessful real estate investor. That’s
                                                                       how I did it!!
       So the idea here is to be as valuable as
       you can to sellers and partners. This                     Comment on this article online at
       leads to doing more business and to                       http://atlantareia.com/?p=20680
       getting started faster in the real estate                                                                                     Aislee Jackson
       game.                                                                                                                         Group Leader
                                                                                                                                        FoLLow
       Now let’s focus on things of value that
       you might bring to the table.                                 Bill Ham
       •    Education- an education in real                          478-718-0993                                                   SAVAnnAh REIA on:
            estate is one of the most valuable                       Bill@PhoenixResGroup.com                                        www.Facebook.com/SavannahREIA
            things that you can trade. Once you                        www.LinkedIn.com/in/BillHam1
            have an education in the business                                                                                        www. Youtube.com/SavannahREIA
                                                                                Bill Ham has been in real estate for
            you can trade that to partners who                                  8 years and has created a portfolio                  www. Twitter.com/SavannahREIA
            may have cash but don’t know how                                    of nearly 400 units in Macon, GA
            to invest in real estate.                                           using creative and seller financing.                 www.Meetup.com/SavannahREIA



© 2013 Atlanta REIA, LLC. All Rights Reserved. Quotation and reprint are not allowed without written permission of the publisher.                 http://AtlantaREIA.com   21
                                                                                                                   Atlanta Real Estate Investors Alliance • JULY 2013


       800 pOUND GUERILLa maRKETING


       Choosing a Great Domain Name
       for Your Business
       By Dustin Griffin




       C       hoosing a great domain name
               (aka “web address” or “URL”)
               for your business and company
       website can be just as important as
       choosing your company name. In fact,
                                                                 to our websites for more information
                                                                 where they can tell us all about their
                                                                 houses for sale.

                                                                 Regardless of what product or services
                                                                                                                                    vs. SellYourHomeToUs.com

                                                                                                                            5. Did you avoid using hyphens
                                                                                                                               unless absolutely necessary to
                                                                                                                               secure your preferred domain? Ex:
       when I am thinking about starting a new                   your business sells, your website domain                      WeBuyPrettyHouses.com vs. We-
       company or online venture, I often choose                 name is crucial to your brand and the                         Buy-Pretty-Houses.com
       my domain name first since finding an                     survival of your website, so again, please
       excellent domain name that is not taken                   choose wisely.                                             6. When people read your domain,
       is often more difficult than choosing a                                                                                 will they know what you do or
       good company name. Additionally, a                                                                                      what your business is all about?
       well-chosen domain name is often more                                                                                   Ex: WeBuyHouses.net (specific) vs.
       recognizable and memorable than my                                                                                      ABCFinancialGroup.com (vague)
       company names which may not be the
       same as my domain names.                                                                                             7. How many domains did you register
                                                                                                                               to protect your brand? Did you
       If you plan on putting your domain                                                                                      register the .COM, .NET, .CO, .US,
       name on all of your online and offline                                                                                  .INFO, etc. so that no one else does?
       marketing material as I suggest, your
       domain name will often be the first thing                                                                            8. Did you register the singular and
       people see and remember when viewing                                                                                    plural of your brand so that someone
       your marketing material and visiting                                                                                    else won’t? Ex. SuperHomeBuyers.
       your website. Therefore, your domain                                                                                    com (plural) vs. SuperHomeBuyer.
       name is a crucial part of your business’s                 Thoughts to Ponder When                                       com (singular)
       unique brand and identity online. So                      Choosing Your Domain
       choosing the right domain name for                        Name(s):                                                   9. Did you purchase YourCompany-
       your business is very important, so                                                                                     Name.com (whatever it might be)
       choose wisely.                                            1. Is your domain name as short as                            so that no one else will?
                                                                    possible or does it appear as fine print
       For the purposes of this article, you need                   when printed on your marketing                          10. Did you purchase and secure your
       to choose a domain name you can use to                       material? Ex. WeBuyHouses.net                               domain name for 5 years or more
       establish your business’s unique identity                    (15 characters) vs. We-Sell-And-                            and make it private/unlisted?
       and allow your prospects and customers                       Lease-Homes.com (27 characters)
       to easily find you online.                                                                                           Comment on this article online at
                                                                 2. Is your domain name easy to                             http://atlantareia.com/?p=20723
       HomeVestors® has several memorable                           spell and easy to remember? Ex.
       domain names that they use to drive                          WeCanBuyFast.com
       prospects to their websites such as
       HomeVestors.com (their company                            3. Is your main domain name a .COM,
       name) and WeBuyUglyHouses.com                                .NET or some other less popular                           About the Author: Dustin Griffin is the
       (what they do).                                              extension such as .BIZ, .US, .INFO,                                    Executive Director of Atlanta
                                                                    .WS, .NAME, .CO, etc.?                                                 REIA and Tampa REIA and
       Likewise, at One Hour Homebuyers®,                                                                                                  is also an entrepreneur, real
       we use OneHourHomebuyers.com (our                         4. Did you avoid using a deliberately                                     estate    investor,  website
       company name), WeBuyPrettyHouses.                            misspelled domain name unless you                                      developer, internet marketing
       com (what we do), SuperHomebuyers.                           are able to secure the correct spelling                                enthusiast and a husband and
                                                                                                                                           proud father of two.
       com (what we are), etc. to drive prospects                   as well? Ex: SellURHome2Us.com


© 2013 Atlanta REIA, LLC. All Rights Reserved. Quotation and reprint are not allowed without written permission of the publisher.                  http://AtlantaREIA.com   22
   American IRA Wants to
  be a Value Added Service
  to You or Your Business!


P We do business the old fashioned way.             P We provide joint webinars which allows you to
   At American IRA, we pick up the phone.              high-light your services.

P We offer personalized service catered to each     P We provide free copies of your webinar in CD/
   of our clients’ needs.                              DVD format for you to promote your services.

P We provide educational articles, live webinars,   P We have a resource page on our website to list
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Contact our office for any self-directed IRA questions
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                                                                                                                   Atlanta Real Estate Investors Alliance • JULY 2013


       aSK a REaL ESTaTE aTTORNEy


      Back To Back Closings:
      How do they Work?
      By Attorney John Maurer




       A         lot of people ask me a lot of
                 questions about Back to Back
                 closings and so I thought I
       would share some of what I have seen
       over the past 15 years or so on them. A
                                                                 deals. If your end buyer is using con-
                                                                 ventional money, it will be necessary
                                                                 to buy the house yourself, using your
                                                                 own money, and probably hold it for
                                                                 at least 90 days before a conventional
                                                                                                                            through. It can be difficult where the
                                                                                                                            Buy side is at one Attorney’s office and
                                                                                                                            the Sell side is at the other. Coordina-
                                                                                                                            tion of these deals is important.

       lot of lawyers will tell you that they are                lender will lend on it. If the end buyer                   I hope that this has been informative and
       flat out illegal, and this is generally un-               is using Hard Money then you have a                        helpful. If you have further questions,
       true. I will explain how to do a Back to                  chance. Each Hard Money lender goes                        feel free to contact me at my office.
       Back closing and make it work for you.                    by their own rules. Some will allow
                                                                 assignments or flips, but they require                     Disclaimer: The information contained in this
       The first question is whether to do a                     you to send them both the Buy and                          article is for informational purposes only and is
       Back to Back closing or an Assignment                     Sell HUD. Some will only allow you                         not legal advice or a substitute for legal counsel.
       Closing. In an Assignment Closing                         to make a certain amount of profit. As                     It does not constitute advertising or solicitation.
       there is only one closing fee, so you save                with everything, it’s a negotiation. But                   The information in this article may or may not
       about $1000 on your lawyer fees. The                      this needs to be worked out before the                     reflect the most current legal developments; ac-
       main reason to avoid an assignment                        deal gets to the attorney, because they                    cordingly, this article is not guaranteed to be
       closing is that the Buyer and the Seller                  will be on the lender’s side and not                       complete, and should not be considered an indi-
       both will see exactly how much you are                    yours.                                                     cation of future results.
       making on the closing and either side
       may freak out and kill the deal if they                   Once you get everything decided, you                       Comment on this article online at
       know you are making more money                            have to know how a Back to Back                            http://atlantareia.com/?p=20697
       than they think you should. It can be                     Closing works. Generally the Buy side
       worth that $1000 to have a smoother                       for you will be a ‘dry’ closing where the
       transaction where no one gets their                       seller does not get his funds until the
       feather’s ruffled over your fees.                         buyer comes in to buy. This is a prob-
                                                                 lem. Technically it has to be specifi-
       The second question is whether or not                     cally agreed to by the seller. And this
       you can actually do either. If the end                    will raise thorny questions like ‘why
       buyer is paying cash, you are in the                      can’t I get my money right now?’ It                         John Maurer
       clear. If the end buyer is getting a loan                 is generally better for the Sell side to                    678-443-9622
       there are new issues. The attorney in                     happen first. That way funds are avail-                     JohnMaurerLaw@Gmail.com
       a loan transaction, represents the lend-                  able. Most attorneys will hold all funds                              Attorney John Maurer has over
       er. Therefore they have to inform the                     from the Sell side and all documents                                  thirteen years of experience in closing
                                                                                                                                       real estate transactions and takes
       lender of anything the lender MIGHT                       until the Buy side also happens. After                                great pride in providing outstanding
       object to. I know of no conventional                      all, you cannot sell a house you do not                               customer service to his clients. His
                                                                                                                             primary goal is to provide swift and accurate
       lenders that will allow a flip transac-                   own yet. But once both sides have fully                     closings for a very reasonable price.
       tion OR an assignment fee on their                        signed, it is easy for everything to flow




                                              North GeorGia reia MoNthly MeetiNG
NGaREIA                                                  2nd Thursday of Each Month at 7:00 PM
                                                        at the Hilton Garden Inn, Cartersville, GA
See http://REIOutpost.com for more information

© 2013 Atlanta REIA, LLC. All Rights Reserved. Quotation and reprint are not allowed without written permission of the publisher.                     http://AtlantaREIA.com      24
                                                                                                                   Atlanta Real Estate Investors Alliance • JULY 2013


       FaST TRaCK TO SELF-DIRECTED IRa INvESTING



                                       Your Most Important Deal… Keeping
                                       Your Investments and Family on Track!
                                       By Jim Hitt, CEO of American IRA, LLC


       You’re prepared right?                                            	 Monthly Payment Amount                          Hidden benefits
                                                                                and Due Date
       The first step is one that many real estate                       	 Maturity Date                                   Once you have your real estate investors
       investors have already taken care of...                           	 Interest Rate                                   portfolio completed, you will find that
       drafting a Last Will and Testament. So,                        o *Remember* to include this                          you can rest easy. Your successors will
       you have it all spelled out...you have met                        same information for any private                   have what they need to carry on with
       with your lawyer and carefully drafted a                          investors you may owe money to                     your investments. The hidden benefit
       Will that details who inherits all of your                        as well.                                           is that you will find you now have a
       assets right down to your great great                     •	       Bank Information                                  phenomenal reference tool that you can
       grandfather’s pocket watch. While this                         o List bank accounts you have                         use for yourself!
       is an important first step, if you are an                         and which properties they are
       active real estate investor, the fact is that                     associated with along with                         Disclaimer
       you have some additional preparation                              	 Name, Address, Phone
       needed in order to allow your loved ones                                                                             The documents listed, the examples, and the
                                                                                Number, and contact                         references in this article are merely examples.
       to continue to maximize the benefits of                                  person at each Bank
       all your hard earned investments.                                                                                    This is not an all-inclusive list of what you need
                                                                         	 Account Number                                  to include in your real estate investment portfolio;
                                                                 •	       System Information                                this is absolutely for illustration purposes only.
       The Real Estate Investors Portfolio
                                                                      o Make a list of any computer
       •	 Property Details                                               systems you use for your business                  American IRA, LLC does not give investment
          o Address                                                      along with                                         advice. We do offer guidance as to the rules
          o Purpose of Property (i.e. Rental,                            	 Link to Login Page                              and regulations related to their self-directed
             Fix and Flip, Buy and Hold,                                 	 Purpose of the system                           accounts and the benefits of different account types
             Commercial, etc.)                                                  (property    management,                    so that our clients can take that information to
          o Income details (Monthly rental                                      bookkeeping, etc.)                          their professionals to discuss the ramifications of
             amounts and any other income                                	 Property(ies) you use it for                    various decisions on their individual situation.
             stream)                                             •	       Instructions
       •	 Property Management Details (i.e.                           o Include a personal note outlining                   Comment on this article online at
          name, phone number, e-mail address,                            any instructions you feel your
          and role of each person managing the                                                                              http://atlantareia.com/?p=20692
                                                                         successor will need to successfully
          property, etc.)                                                carry on with each investment.
       •	 Maintenance Team Details                               •	       Documents
          o Name                                                      o Include copies of key documents
          o Contact Information                                          your successor will need. Some
                                                                                                                              Jim Hitt
          o Wage Information (how much                                   documents your successor may                         800-750-0472
             are they paid, how frequently, and                          need:                                                JimHitt@AmericanIRA.com
             how (direct deposit, check, etc.))                          	 Leases                                                  www.AmericanIRA.com
          o Skills (i.e. carpenter, plumber,                             	 Purchase Agreements                                     www.Facebook.com/AmericanIRA
             electrician, etc.)                                          	 Loan Documents
                                                                                                                                    www.Twitter.com/IRAExpert
          o Property and/or properties you                               	 Sale Agreements
             have them servicing                                         	 Rental Agreements                                             Jim Hitt is the Chief Executive
          o Loan and Mortgage Details                                    	 Etc.                                                          Officer of American IRA, LLC
                                                                                                                                          and has been committed to all
          o List mortgage and loans specific                     •	   Login Information and Passwords                                     aspects of investing for more
             to each property along with                              o You may want to draft a list of                       than 30 years, using selfdirected IRAs for his
             	 Name, Address, Phone                                     login information and passwords                      own investments since 1982. Jim’s forte is the
                    Number, and contact                                                                                       financing and acquisition of real estate, private
                                                                         that your successor will need.                       offerings, mortgage lending, businesses, joint
                    person at each Bank                               o Important Note: Make sure you                         ventures, partnerships and limited liability
             	 Loan/Mortgage Account                                    secure this information properly.                    companies using creative techniques.
                    Number

© 2013 Atlanta REIA, LLC. All Rights Reserved. Quotation and reprint are not allowed without written permission of the publisher.                      http://AtlantaREIA.com      25
                                                                                                                   Atlanta Real Estate Investors Alliance • JULY 2013


       ThE QUICKBOOKS QUICKIE




       Thinking about QuickBooks 2013?
       By Karen Bershad,
       The Small Business Advisor




                       I
                       t is the goal of this col-
                       umn to answer ques-
                       tions about Quick-
                   Books and how it is used
                   in the REI arena. Know
                                                                       Note: Other Point of Sale Pro-
                                                                       grams may or may not work well
                                                                       with QuickBooks
                                                                 Q: QuickBooks made a lot of changes in
                                                                                                                            Print Bill: Print a bill to route for ap-
                                                                                                                            proval or file for record keeping
                                                                                                                            Billable Time and Expense Prefer-
                                                                                                                            ence: When entering time or expens-
                   how to record transactions                    2013. At first it had a number of ar-                      es, you now have the option to control
                   in the proper way and                         eas that needed to be addressed, but as time               whether QuickBooks automatically
       have your set of books in good shape                      moves along these are being fixed. In gen-                 bills for them. Separate controls for
       when it comes time for taxes. It is our                   eral QuickBooks is for:                                    time and for expenses.
       intention to do this by you the mem-                      A: • Businesses who need full general
       bers submitting questions to Karen@                            ledger accounting
       smallbusinessadvisor.biz, and get-                                                                                   Comment on this article online at
       ting answers here in this column.                         •     Businesses who need fundamen-                        http://atlantareia.com/?p=20695
                                                                       tal inventory control (clients with
       Q: Does QuickBooks 2013 Integrate with                          advanced inventory needs should
       Other Software?                                                 consider QuickBooks Enterprise
       A: Yes, in the following areas                                  Solutions 13.0)

       •    Microsoft Word and Excel inte-                       •     Businesses who need essential re-
            gration requires Word and Excel                            porting (clients who need reports
                                                                       tailored to their industry should                      Karen Bershad
            2003, 2007, or 2010 (including
            64-bit)                                                    consider QuickBooks Premier                            (770) 356-1234
                                                                       2013)                                                  Karen@SmallBusinessAdvisor.biz
       •    Synchronization with Outlook re-
            quires QuickBooks Contact Sync                       •     Businesses who want to be able to                            www.SmallBusinessAdvisor.biz
            for Outlook 2003, 2007, and 2010                           organize all their customer, ven-
                                                                       dor and employee information in                                      Karen Bershad is “The Small
            (including 64-bit) (downloadable                                                                                                Business    Advisor”.    Most
            for free at: www.quickbooks.com/                           one place
                                                                                                                                            small business owners have
            contact_sync)                                        Q: Are there other improvements to Quick-                                  a challenge handling all the
                                                                 Books 2013?                                                  different areas of running a business. The
       •    Email estimates, invoices, and                                                                                    accounting can be a challenge, particularly
            other forms with Windows Out-                        A: QuickBooks 2013 has additional                            if the software seems overwhelming. The
            look, Outlook Express and Mozilla                    improvements you've been asking for                          Small Business Advisor is what you may
            Thunderbird, as well as web mail                                                                                  need to get you to the next level of your
                                                                 that make managing your books easier                         business. We work at your office or provide
            services such as Gmail, Yahoo!                       than ever:                                                   off site assistance in getting things under
            Mail, and Hotmail                                                                                                 control by providing a wide variety of
                                                                 Reports: Add favorite, recent and                            services that are specifically for the small
       •    Compatible with QuickBooks                           memorized reports to the home page                           business.
            Point of Sale version 8.0 and later




                                 Keep up to date with our latest opportunities by joining us on Facebook

                                 www.Facebook.com/AtlantaREIA

© 2013 Atlanta REIA, LLC. All Rights Reserved. Quotation and reprint are not allowed without written permission of the publisher.                   http://AtlantaREIA.com   26
                                                                                                                    Atlanta Real Estate Investors Alliance • JULY 2013


                                                                                           Join Bob at the
                                                                          Meeting-Before-The-Meeting on July 1st as well as
                                                                             Atlanta REIA for a Round Table discussion




       How Pervasive is the Problem of Mortgage
       Fraud and Clouded Title Issues?
       By Bob Massey



       L      enders like to argue that when a
              homeowner gets behind on the
              mortgage the issues involved
       in foreclosure are cut-and-dried. The
       homeowner owes on the mortgage, they
                                                                 An audit ordered by San Francisco asses-
                                                                 sor, Phil Ting, of about 400 foreclosures
                                                                 was reported in a New York Times article
                                                                 by Gretchen Morgenson showing perva-
                                                                 sive irregularities in how mortgages are
                                                                                                                               Of the 400 foreclosure filings from Janu-
                                                                                                                               ary 2009 to November 2011 that were
                                                                                                                               examined there were clear violations of
                                                                                                                               the law found in 84% of the files, and
                                                                                                                               two-thirds of the files had more than
       have not been able to catch up over                       written and how foreclosure filings are                       four violations or irregularities. The
       many months, so they should pay and/                      carried out. While the study was specifi-                     study puts to rest the notion that these
       or lose the house. The reality is far less                cally of problems with San Francisco area                     irregularities are just isolated cases.
       clear-cut. In many cases homeowners do                    foreclosures, similar findings could be
       not argue in court that they don’t owe                    made nationwide. For example, a recent                        Here is a sampling of the problems
       on a mortgage; the real questions are                     whistleblower report on Wells Fargo ex-                       found in the San Francisco foreclosure
       who does the homeowner owe the loan                       posed the systematic fabrication and al-                      documentation study:
       to and does the party bringing a fore-                    teration of mortgage documents nation-
       closure action really have standing to file               wide. Their fraud was so rigorous that                        •     8% of the sample did not properly
       for foreclosure?                                          they even took loans that were endorsed                             notify the borrower of a default;
                                                                 properly and altered them as well!




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                            When you’re ready to get started, call
            Christine Griffin at 678-701-7160 or email admin@atlantareia.com.
© 2013 Atlanta REIA, LLC. All Rights Reserved. Quotation and reprint are not allowed without written permission of the publisher.                         http://AtlantaREIA.com       27
                                                                                                                   Atlanta Real Estate Investors Alliance • JULY 2013



       •    85% of the sample failed to show                     These frauds have opened up a huge op-                        http://FullerCenterofAtlanta.org
            proper transfer of recorded docu-                    portunity for real estate investors to help
            ments to a new trustee, or the docu-                 underwater homeowners AND pick up
            ments were not filed on time;                        properties at large discounts. By in-
                                                                 vestigating the specific circumstances
       •    45% of auction sales were to entities                behind underwater homeowners’ loans,
            improperly claiming to be the ben-                   we are discovering unbelievable and bla-
            eficiary of the deed of trust making                 tant fraud that can be used as leverage
            the sale invalid;                                    against the banks in order to negotiate
                                                                 huge discounts. This allows investors
       •    6% of cases had the same deed                        to free homeowners from the burden
            of trust assigned to two or more                     of dumping money into an underwater                           The Fuller Center for Housing of
            entities at the same time making                     home while doing some incredible deals.                       Greater Atlanta is a faith-driven,
            it unclear which had the right to                                                                                  Christ-centered, non-profit
            foreclose.                                           If you would like more information on                         organization, that promotes
                                                                 this awesome strategy, give my office a                       collaborative and innovative
       The report casts serious doubt on the                     call at 706-485-0162!                                         par tnerships with individuals,
                                                                                                                               organizations, corporations, and
       accuracy of MERS transfers. In 58% of                                                                                   religious groups of all faiths in
       the cases audited found that loans listed                 Comment on this article online at                             an unrelenting quest to provide
       in the MERS database showed differ-                       http://atlantareia.com/?p=20683                               adequate shelter for all people in
       ent owners than were reflected in other                                                                                 need in the Greater Atlanta area.
       public documents filed in the county re-                    Bob Massey
       corder’s office.                                                                                                        Atlanta REIA and our members,
                                                                   706-485-0162                                                friends and followers are proud to
                                                                   info@REWealthCoach.com                                      be partners with the Fuller Center
       But what about that $25 billion settle-                                                                                 of Atlanta and assisting them in
       ment with the largest banks? Accord-                             www.REWealthCoach.com                                  building, renovating and repairing
       ing to experts, the settlement covers just                      www.Facebook.com/BobMasseyOfficial                      homes for needy Atlanta families.
       a small portion of the issues identified                                  Bob Massey is a recovering
       as fraudulent and it does not inoculate                                   corporate executive who is now
                                                                                                                               If you are interested in to help a
       lenders and servicers from a whole raft of                                living the dream running his own              family in need, please contact Mark
       potential liabilities. This audit provides                                successful real estate investing              Galey at (404) 867-3258 or Mark@
                                                                                 business and teaching others how              MagnetConstruction.com.
       clear evidence that homeowners are rou-                     to do the same.  In the process he has become
       tinely being deprived of their legal safe-                  the nation’s leading educator on the foreclosure            We also need and welcome your
                                                                   investing the foreclosure process.                          donations!
       guards and due process in foreclosures.

                                                                                                                                    Follow the Fuller Center
                                                                                                                                         of Atlanta on:
                                                                                                                                    www.Facebook.com/FullerCenterOfAtlanta
                                                                                                                                     www.Youtube.com/AtlantaFullerCenter
                                                                                                                                      www.Twitter.com/FullerCenterATL




                                                                                                                                    Make a difference.



© 2013 Atlanta REIA, LLC. All Rights Reserved. Quotation and reprint are not allowed without written permission of the publisher.                    http://AtlantaREIA.com   28
                                                                                                                   Atlanta Real Estate Investors Alliance • JULY 2013


       REaL WORLD REaL ESTaTE INvESTING




       The Gag Reflex
       By Bill Cook




       L     ast month, Kim and I were part
             of a panel discussion at Dustin
             Griffin’s Atlanta REIA monthly
       meeting. The topic was about how
       we’re structuring our deals in the cur-
                                                                 deals! Three were found by knocking
                                                                 on sellers’ doors; our realtor told us
                                                                 about the fourth one.

                                                                 Here’s the hedge fund’s primary prob-
       rent real estate market. A lot of time                    lem: Hedge funds are run by Wall
       was spent answering questions about                       Street people, not by folks who under-
       hedge funds and how they’re driving                       stand single-family houses and land-
       up home prices.                                           lord-tenant relationships.
                                                                                                                                     Solutions that help
       Because hedge funds are gobbling up                       Some folks think that when it comes
       an ungodly number of properties – and                     to real estate investing, Wall Street                                you Make More.
       are willing to pay at or above a prop-
       erty’s CONSERVATIVE fair market
                                                                 people are the cat’s meow. They point
                                                                 to the big returns promised by the
                                                                                                                                         work Less.
       value – many “investors” are no longer                    hedge funds and say, “I gotta get me
       able to be high bidders at the foreclo-                   some of that!” We say, “Silly rabbit,                          Use your iPad, iPhone,
       sure auction. And because many of                         tricks are for kids!” Do you remember                          or other mobile device,
       these so-called investors know of no                      how successful the Wall Street folks                           anywhere, to…
       other way to buy property, they sim-                      were with real estate from 2002 to
       ply quit showing up – or worse yet, pay                   2006? Remember how THAT dance                                  H Find comps and
       WAY too much for a property.                              turned out?!                                                     rental rates
       Frankly, Kim and I don’t give hedge
                                                                                                                                H Sign and send contracts
                                                                 Let me tell you a story: There was a
       funds much thought – other than                           very wealthy man in Macon, Georgia.                            H Plan your entire rehab
       thinking they’re making one giant                         He wanted his son to be a financial                            H and so much more!
       mistake that’s gonna bite them in the                     success. The son was very young and
       butt one day soon! Sure, these days                       had zero real estate experience. Still,
       we’re rarely the high bidders on the                      the dad told the son to go out and buy                           Check it out now!
       steps, but that doesn’t mean we’re not                    thirty single-family rental properties
       doing deals. Just the opposite is true!                   for cash over a ninety-day period of                           5 day Trial for only $1
                                                                 time using the dad’s money.
       April was the month Kim and I real-
       ized that the foreclosure auction was                     Buying ten houses a month, for three                                 Make More. Work Less.
       no longer the best place to find deals.                   straight months, is a very difficult task
                                                                                                                                                    Go To:
       However, we still managed to do four                      – especially for someone not versed in                             MobileRealEstateRockstar.com/Atlanta-REIA




                                                                              PERIMETER
           Join us for Education & networking at the
           Meeting-Before-the-Meeting each month!
            We meet at the Total Wine & More located at 124 Perimeter Center W
               in Atlanta at 3:00pm before our Atlanta REIA Main Meeting.


© 2013 Atlanta REIA, LLC. All Rights Reserved. Quotation and reprint are not allowed without written permission of the publisher.                        http://AtlantaREIA.com   29
                                                                                                                   Atlanta Real Estate Investors Alliance • JULY 2013




       real estate. How many of the thirty                       OK…there’s no “dad” in Macon do-                             Bill Cook
       homes do you think were eye-popping                       ing this for his son. However, this is
                                                                                                                              727-420-4810
       deals? How many “big mistakes”                            EXACTLY what the hedge funds are
       do you think the well-meaning son                         doing every stinkin’ day – but with a lot                    BillCook2009@Gmail.com
       bought?                                                   more zeros! What do you think about                                www.REIOutpost.com
                                                                 those “sharp” Wall Streeters now?                                       Bill Cook is a full-time real estate
                                                                                                                                         investor, speaker and author. He
       After the properties are purchased,                       Don’t you know that soon they’re gon-                                   specializes in single-family homes and
       next they have to be rehabbed. How                        na gag on all the goofy deals they’ve                                   mobile home parks. Bill believes that
                                                                                                                              real estate investing, especially the act of buying
       much rehabbing experience does the                        done, taking the fund investors down                         and holding rental property, is the surest way
       son have? Finally comes the BIG job:                      with them!                                                   to financial independence and wealth. Bill and
                                                                                                                              his wife Kim run North Georgia REIA where they
       Finding and managing tenants. Can                                                                                      teach others how to successfully invest in real
       you say train wreck?                                      And when the gagging happens – and                           estate.
                                                                 it will happen – who do you think will
       What do you think of the dad’s hair-                      be there to put Humpty Dumpty back
       brained idea now? After this little real                  together again? Real estate investors
       estate investing picnic blows up, how                     who know how to creatively structure
       badly do you think the dad – and the                      and finance win-win deals, of course!
       son – will want to chew their arm off to
       get out of these deals?                                   Comment on this article online at
                                                                 http://atlantareia.com/?p=20677




            ChARLoTTE REIA.CoM
                                 Meets on the
                 1st Thursday 6:30pm–9:30pm
                    of each Month

                             Charlotte REIA Education Center                                                             FoLLow ChARLoTTE REIA on:
                                8520 Cliff Cameron Drive
                                   Charlotte, NC 28269                                                                      www.CharlotteREIA.com
                                                                                                                             www.Facebook.com/CharlotteREIA
                                                                                                                             www. Youtube.com/CharlotteREIA
                                                                                                                             www. Twitter.com/CharlotteREIA




© 2013 Atlanta REIA, LLC. All Rights Reserved. Quotation and reprint are not allowed without written permission of the publisher.                       http://AtlantaREIA.com      30
                                                                                                                   Atlanta Real Estate Investors Alliance • JULY 2013


       REaL ESTaTE LEGaL REpORT




       Alert! Change in Foreclosure Law -
       Reese v. Provident Funding Overturned
       By Attorney Jon David W. Huffman



       M           any real estate investors dealing
                   with foreclosures, pre-foreclo-
                   sures or foreclosure workouts
       are familiar with the case Reese v. Provi-
       dent Funding Associates.1 In Reese, the
                                                                 Court of Georgia handed down You v. JP
                                                                 Morgan Chase Bank, N.A.5 This case ef-
                                                                 fectively overturned Reese in its entirety.

                                                                 In You, the Supreme Court of Georgia
                                                                                                                            Disclaimer: The information contained in this
                                                                                                                            article is for informational purposes only and is
                                                                                                                            not legal advice or a substitute for legal counsel.
                                                                                                                            It does not constitute advertising or solicitation.
       Court of Appeals of Georgia held that fail-               considered the issue of notice as it relat-                The information in this article may or may not
       ure to follow a notice requirement identi-                ed to one particular situation: where one                  reflect the most current legal developments; ac-
       fying the foreclosing lender was fatal to the             party held the note and another held the                   cordingly, this article is not guaranteed to be
       foreclosure process. Many real estate law                 security deed.6 This situation is common                   complete, and should not be considered an indi-
       scholars believed this ruling was correct                 when loans are securitized. The servicer                   cation of future results.
       and provided consumer protection. Ad-                     often holds the security deed while the
       ditionally, many real estate professionals                note is held by a mortgage-backed secu-                    Comment on this article online at
       saw this ruling as an opportunity to level                rity (MBS). In You, the Court held that                    http://atlantareia.com/?p=20700
       the playing field in foreclosure and pre-                 the foreclosing party did not need to own
       foreclosure negotiation. This ruling, how-                or have possession of the note along with                  1
                                                                                                                              Reese v. Provident Funding Assocs., LLP, 317 Ga. App. 353,
       ever, is no longer good law. It has been                  the security deed. The security deed was                   730 S.E.2d 551 (2012).
       overturned.                                               sufficient to foreclose. Additionally, the                 2
                                                                                                                              O.C.G.A. § 44-14-162.2.
                                                                 Court went one step further and held that                  3
                                                                                                                              Reese, 317 Ga. App. at 358.
                                                                                                                            4
                                                                                                                              Alyson M. Palmer, Lenders win on foreclosures, Daily
       Georgia law requires that a foreclosing                   the required 30-day notice did not need to
                                                                                                                            Report, May 21, 2013.
       lender give notice to a homeowner 30 days                 identify the secured creditor. It only need-               5
                                                                                                                              You v. JP Mortgage Chase Bank, N.A., No. S13Q0040,
       before foreclosing.2 It also requires that                ed to include identification information of                2013 Ga. Lexis 454 (May 20, 2013).
       this notice correct identify the “secured                 a party that had authority to negotiate on                 6
                                                                                                                              In Georgia, this is almost always a Deed to Secure Debt.
       creditor.” In Reese, the Court of Appeals                 behalf of a lender.
       of Georgia interpreted this in a technical
       fashion. It found that notice sent by a loan              The ruling in You effectively dismantled
       servicer which did not identify the lender                the technical requirement that Reese set
       was “fatal” to the foreclosure: “While a                  forth. To lenders this ruling gives certainty                Jon David Huffman
       loan servicer may be permitted to send the                and will reduce litigation. As to borrow-
       notice on behalf of the secured creditor,                 ers, consumer advocates will argue that                      404-373-4008 x 304
       [the servicer’s] fatal mistake was in send-               this ruling leaves the foreclosure process,                  JonDavid@PooleLawGroup.com
       ing a notice that failed to properly identify             especially who owns the loan, unchecked.                           www.PooleLawGroup.com
       the secured creditor.”3                                   Regardless, real estate professionals who
                                                                                                                                    www.LinkedIn.com/in/JonDavidHuffman
                                                                 work in this area must be aware of this
       According to the Daily Report4, this rul-                 change in law.                                                         Jon David Huffman is a litigation
                                                                                                                                        attorney specializing in real estate
       ing led many homeowners to file suit for                                                                                         disputes, business disputes and
       wrongful foreclosure. Additionally, many                  You can read the entire ruling at: http://                             commercial       collections.  With
       real estate professionals used this ruling as             law.justia.com/cases/georgia/supreme-                        more than a decade of experience managing
       leverage in their negotiations with lenders.              court/2013/s13q0040.html.                                    small businesses before attending Emory
                                                                                                                              Law School, he brings a business owner’s
       However on May 20, 2013, the Supreme                                                                                   perspective to the practice of law.




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© 2013 Atlanta REIA, LLC. All Rights Reserved. Quotation and reprint are not allowed without written permission of the publisher.                         http://AtlantaREIA.com           31
                                                                                                                   Atlanta Real Estate Investors Alliance • JULY 2013




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                   Mutiple Sizes Available.                  iced!



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                                                                                                                   Atlanta Real Estate Investors Alliance • JULY 2013




       Atlanta REIA Meetings Calendar
                                                 http://AtlantaREIA.com/Meetings
   PLEASE noTE: This schedule is subject to change. Visit http://AtlantaREIA.com/Calendar for the most current schedule.
                                                                                                                             3rd Tuesday of Each Month

         Atlanta REIA 3rd Annual Vendor Trade Show                                                                           Onsite Renovation Group
                                                                                                                             Noon - 2:00 PM
                                                                                                                             Location Changes Each Month
                               July 1st, 5:00 PM – 9:00 PM                                                                   Leader: Aaron McGinnis
                                                                                                                             http://onsite.atlantareia.com
              Crowne Plaza Ravinia Hotel • 4355 Ashford Dunwoody, Atlanta, GA
                   Leader: Dustin Griffin • http://main.atlantareia.com                                                      3rd Wednesday of Each Month
                                                                                                                             Atlanta REIA North Meeting
                                                                                                                             6:30 PM – 8:30 PM
         1st Monday of Each Month                                   Every Thursday                                           1960 Skylar Hill Dr, Suite D, Buford, GA
         Late Nite Networking Dunwoody                              (Except Major Holidays)                                  Leader: Dustin Griffin & Gordon Catts
         9:30 PM – Late Nite                                        Have & Wants Meeting                                     http://north.atlantareia.com
         Tilted Kilt, 1155-B Mount Vernon Hwy, Atlanta, GA          1:30 PM - 3:30 PM
         Leader: Lee Budden                                         5 Seasons Brewing                                        3rd Wednesday of Each Month
         http://main.atlantareia.com                                5600 Roswell Rd, Sandy Springs, GA                       Late Nite Networking Buford
                                                                    Leader: Joe Thompson                                     9:00 PM – Late Nite
         1st Monday (Once Per Quarter)                              http://havesandwants.atlantareia.com                     Tilted Kilt
         Mobile Real Estate Rockstars Group                                                                                  3480 Financial Center Pkwy, #M1080, Buford, GA
         3:00 PM – 5:30 PM                                          2nd Wednesday of Each Month                              Leader: Dustin Griffin & Gordon Catts
         Total Wine & More                                          I Love Marketing Group                                   http://north.atlantareia.com
         124 Perimeter Center W, Atlanta, GA                        7:00 PM – 9:00 PM
         Leader: Don DeRosa                                         Social Vinings, 3621 Vinings Slope SE, Atlanta, GA       3rd Thursday of Each Month
         http://rockstars.atlantareia.com                           Leader: Rock Shukoor                                     Savannah REIA
                                                                    http://ilm.atlantareia.com                               6:30 PM – 9:00 PM
         1st Monday (Once Per Quarter)                                                                                       Location: See SavannahREIA.com for details
         Short Sale & Foreclosure Group                             2nd Thursday of Each Month                               Leader: Aislee Jackson
         3:00 PM – 5:30 PM                                          Atlanta REIA South Meeting                               http://savannahreia.com
         Total Wine & More                                          6:30 PM – 8:30 PM
         124 Perimeter Center W, Atlanta, GA                        Giovanna’s Italian Kitchen                               4th Monday of Each Month
         Leader: Bob Massey                                         1375 Virginia Ave, East Point, GA                        Atlanta REIA West Meeting
         http://ssf.atlantareia.com                                 Leader: Reggie Jackson & Gordon Catts                    6:30 PM – 9:00 PM
                                                                    http://south.atlantareia.com                             Cherokee Cattle Company
         1st Monday (Once Per Quarter)                                                                                       2710 Canton Rd, Marietta, GA
         Active Investors Group                                     2nd Thursday of Each Month                               Leader: Leslie Mathis
         3:00 PM – 5:30 PM                                          North Georgia REIA                                       http://west.atlantareia.com
         Total Wine & More                                          7:00pm - 9:00pm
         124 Perimeter Center W, Atlanta, GA                        Hilton Garden Inn Cartersville, 24 Liberty Drive,        4th Monday of Each Month
         Leader: Gordon Catts                                       Cartersville, GA                                         Late Nite Networking Marietta
                                                                    Leaders: Bill & Kim Cook                                 9:00 PM – Close
         1st Tuesday of Each Month                                  http://reioutpost.com/                                   Cherokee Cattle Company
         Mountain REIA                                                                                                       2710 Canton Rd, Marietta, GA
         6:30 PM – 9:00 PM                                          2nd Thursday (Once Per Quarter)                          Leader: Leslie Mathis
         Golden Corral                                              Small Business Group (SBG)                               http://west.atlantareia.com
         2025 Market Place Blvd, Cumming, GA                        3:30 PM – 5:30 PM
         Leader: Gordon Catts                                       5 Seasons Brewing                                        4th Tuesday of Each Month
         http://mountainreia.com                                    5600 Roswell Rd, Sandy Springs, GA                       Note Buyer Group Meeting
                                                                    Leader: Karen Bershad                                    6:30 PM – 8:30 PM
         1st Wednesday of Each Month                                http://sbg.atlantareia.com                               Olive Garden
         Creative Deal Structuring Group (CDS)                                                                               2467 Cobb Parkway SE, Smyrna, GA
         7:00 PM – 9:00 PM                                          3rd Monday of Each Month                                 Leader: Tom Boyer
         Whitehall Tavern                                           Movers & Shakers Lunch Meeting                           http://nbg.atlantareia.com
         2391 Peachtree Rd NE, Atlanta, GA                          11:00 AM – 1:30 PM
         Leader: Russ Hiner                                         5 Seasons Brewing                                        4th Thursday of Each Month
         http://cds.atlantareia.com                                 3655 Old Milton Parkway                                  Cash Cows Commercial Group
                                                                    Alpharetta, GA                                           11:30 AM – 1:00 PM
         1st Thursday                                               Leader: Gordon Catts                                     5 Seasons Brewing,
         Charlotte REIA                                             http://moversandshakers.atlantareia.com                  5600 Roswell Rd, Sandy Springs, GA
         6:30 PM - 9:30 PM                                                                                                   Leader: Steve Brown
         Charlotte REIA Education Center                            3rd Monday                                               http://cashcows.atlantareia.com
         8520 Cliff Cameron Drive, Charlotte, NC 28269              Beginning Investors Group Meeting (BIG)
         Leader: Dustin Griffin & Linda Dana                        6:30 PM - 9:00 PM                                        New Group Coming Soon!
         http://charlottereia.com                                   Hudson Grille                                            Forensic Real Estate Group
                                                                    6317 Roswell Rd NE, Sandy Springs, GA                    Date & Time To Be Announced
                                                                    Leaders: Alan McDonald & Dustin Griffin                  Leader: Maggie Groholski
                                                                    http://big.atlantareia.com                               http://fre.atlantareia.com




© 2013 Atlanta REIA, LLC. All Rights Reserved. Quotation and reprint are not allowed without written permission of the publisher.                      http://AtlantaREIA.com   33
    PLEASE noTE: This schedule is subject to change. Visit http://AtlantaREIA.com/Calendar for the most current schedule.


          ATLANTA REIA CALENDAR OF EVENTS
                                                         JULY 2013
     SUNDAY            MONDAY                  TUESDAY         WEDNESDAY                   THURSDAY                 FRIDAY       SATURDAY
                  1                       2                   3                        4                       5             6

                                                                                        hAPPY
                   Atlanta REIA 3rd       Mountain REIA
                    Annual Vendor         Cumming, GA
                    Trade Show &          6:30pm – 9:00pm
                   3rd Anniversary

                                                                                        4Th oF
                     Celebration
                   5:00pm – 9:00pm
                       Short Sale &


                                                                                         JULY
                    Foreclosure Group
                     3:00-5:00pm
                   Late Nite Networking
                      9:30pm-LATE
7                 8                       9                   10                       11                      12            13
                                                              I Love Marketing Group   Haves & Wants Meeting
                                                              Sandy Springs, GA        Sandy Springs, GA
                                                              7:00pm – 9:00pm          1:30 pm - 3:30 pm
                                                              Creative Deal            Atlanta REIA
                                                              Structuring Group        South Meeting
                                                              Atlanta, GA              East Point, GA
                                                              7:00pm – 9:00pm          6:30pm – 8:30pm
                                                                                       North Georgia REIA
                                                                                       Cartersville, GA


14                15                      16                  17                       18                      19            20
                   Movers & Shakers       Onsite Renovation   Atlanta REIA             Haves & Wants Meeting
                   Alpharetta, GA         Group               North Meeting            Sandy Springs, GA
                   11:00am - 1:30pm       Location TBD        Buford, GA               1:30pm - 3:30pm
                                          Noon - 2:00pm       6:30pm-8:30pm
                   Beginning Investors                                                 Savannah REIA
                   Group (BIG)                                Late Nite
                                                              Networking Buford        Savannah, GA
                   Sandy Springs, GA                                                   6:30pm - 9:00pm
                   6:30pm - 9:00pm                            Buford, GA
                                                              9:00pm - Late



21                22                      23                  24                       25                      26            27
                   Atlanta REIA           Note Buyer Group                             Cash Cows Commercial                   Wholesaling 201
                   West Meeting           Meeting                                      Group
                   Marietta, GA           Smyrna, GA                                   Sandy Springs, GA                      Workshop
                   6:30pm – 9:00pm        6:30pm – 8:30pm                              11:30am - 1:00pm                       with Russ Hiner
                   Late Nite                                                           Haves & Wants Meeting                 9:00am – 5:00pm
                   Networking Marietta                                                 Sandy Springs, GA
                   Marietta, GA                                                        1:30pm - 3:30pm
                   9:00 PM – Close




28                29                      30                  31                       1                       2             3
                                                                                       Haves & Wants Meeting
Wholesaling 201                                                                        Sandy Springs, GA
                                                                                       1:30pm - 3:30pm
Workshop
with Russ Hiner
9:00am – 5:00pm




                                          NEWSLETTER dESigN PRovidEd by

				
DOCUMENT INFO
Description: This is the July 2013 Edition of The Profit Newsletter for the Atlanta Real Estate Investors Alliance (Atlanta REIA).