Dave Rice of REI Bookkeepers offers a presentation that is all about the numbers. Dave discusses financial statements, which are the backbone of any business. He presents some real world examples of what should be included in the financial statements of real estate investors. Hopefully this will prompt members to review their own financials to make sure that their statements are reflecting what is happening in their businesses.
Mark LePera leads a round table discussion with various Nashville area real estate investors. They discuss their current projects and best practices for success.
Sharon Restrepo, broker at 32 West Realty and GREEN instructor, explains that a common roadblock to success for many real estate rehabbers is cutting corners or “being cheap” on their renovations. Sharon advocates spending extra effort and money to make the kitchen, master bedroom and bathrooms unique and appealing. She shares examples and offers tips from her own projects.
Christina Livingston, an area manager with Leader One Financial Corporation, presents a talk called, Preparing Your Properties for Today’s Mortgage Market, which addresses property eligibility guidelines, property condition, and how these elements relate to appraisals.
Sharon Restrepo, broker at 32 West Realty and GREEN instructor, finishes her two-part series on buying condos. In this segment, she discusses the different types of amenities available and how that can directly impact the renter in that they may be required to pay a security deposit for these amenities over and above their normal security deposit for the condo. She also discusses membership communities, the associations involved, and the dangers involved in buying condos.
Condominiums can offer many benefits to those who live there. However, they are not without their drawbacks and complications. Sharon Restrepo, broker at 32 West Realty and GREEN instructor, begins the first of two sessions that discuss what you need to know if you are looking to buy a condo as personal residence, as a rental property or as a fix and flip. Among the topics Sharon treats in part one: HOA rules/restrictions; HOA budgets; Assessments; and percentage of units rented.
Gregory DeSalvo of 1031 Placement, Belle Isle, FL, explains how the tenants-in-common structure allows you to purchase an undivided, fractional interest in a property. This gives you access to a much higher quality real estate investment than may have been achievable on your own. Greg outlines how each investor receives a warranty deed, a title insurance policy and enjoys all of the same benefits as if they owned the entire property; each investor just owns a slice of the pie rather than the whole property. Each investor also receives 10% of the income, appreciation and tax shelters that the property provides.
Robert Elam of United Structural Systems (USS) offers his fourth talk in a four-part series. Robert discusses crawlspaces, dealing with support beams, jack posts, lifting sagging/bouncy floors, and lifting doorways. These things are particularly relevant to fix and flippers as the appliances and granite countertops they are installing in the older homes they refurbish have a major impact on the structural integrity of their houses which were not built with such weight in mind.
Robert Elam of United Structural Systems (USS) offers his third talk in a four-part series. Robert begins with the declaration: “Water is death to a house. Water is the worst thing that can happen to a house!” He proceeds to note how moisture draws insects, invites mold and rot and eventually leads to major structural issues. Robert discusses the importance of having a dry crawl space and how in Tennessee, many crawl spaces do not even have moisture barriers (required by Tennessee code)! The presentation ranges from waterproofing and how the approach varies based on the lot (level versus slanted) to encapsulation.
Robert Elam of United Structural Systems (USS) presents his second talk in a four-part series. Robert explains concrete leveling, a way of addressing uneven sidewalks, driveways, pool decks and patios. In addition, he describes how USS does brick and lintel repair. Good looking concrete around your property and quality mortar work, including fixing the framing above damaged doors and windows, increases the structural integrity and curbside appeal of your home. Robert includes real-world examples, along with pricing.