Are you tired of working but feeling like you are not experiencing the success you want? Michelle Moore, realtor, author, inspirational and motivational speaker, leadership coach, and sales trainer, believes that success is about mastering the basics. Michelle wants to help you achieve the success you have desired. To that end, she proposes eight basics that lead to success: 1) know your “why”; 2) Believe you CAN; 3) Get EXCITED; 4) Systems and Processes; 5) Follow UP!; 6) Be a GIVER, not a TAKER; 7) Stay the course; and 8) The Power of FIVE.
Dave Foster, regional development director, Exchange Resource Group, explains that the 1031 exchange has different strategies based on the “life needs” of the investor. It can be used for consolidation, diversification and to address retirement needs. Dave explains that these strategies matter because for each stage of your life you have different priorities and distinct abilities that enable you to implement different strategies.
Sharon Restrepo, broker at 32 West Realty and GREEN instructor, explains that it is NOT necessary to have a real estate license to invest. However, she does explain that the requirements are different, depending on your role in a transaction. For example, when you introduce a seller and a buyer for a fee, they close a transaction, and collect a fee from the seller, you must have a license. On the other hand, when YOU are a buyer in an executed contract and you assign your rights in the contract to another buyer and are paid a fee for those rights by the buyer, you do not need a license. This fee is called an assignment fee. In the end, Sharon believes that obtaining a license is a good thing to do as it makes you a better real estate investor.
If you are out looking at houses as a fix and flipper and the homeowner makes an excuse why you can’t see the basement, your “trouble radar” should be going off! More often than not, that basement is going to be a problem. Paul Kazanofski of Revision Homes, LLC., details the procedure of installing a French Drain by using a recent house he rehabbed as an example. Step by step, Paul uses pictures from the project to illustrate his detailed explanation of what is involved in repairing a foundation and making a basement waterproof.
Megan Galane, CISP, Director of Business Development for Mountain West IRA, Clearwater, Florida, reviews each type of Self-Directed Retirement account, providing a 10,000 foot view of an investor’s options. She explores the benefits, limits, and differences of each type of account. The goal of this survey is to help you come to know which IRA is right for you!
Paul Kazanofski of Revision Homes, LLC., explains that money spent on decks and patios in home rehabilitation projects is very likely to come back to you and perhaps lead to greater profits. Among the topics Paul discusses are proper fastening procedures (about 50% of pre-existing decks are not properly fastened); following building codes; awareness of the condition of the existing wood (decking as well as underlying supports); nails versus wood screws; timing for installing pressure treated wood with respect to painting/ staining; etc.
Larry Cox, loan originator with Republic State Mortgage, discusses the uses and benefits of both 2nd mortgages and home equity lines of credit (HELOC). Larry explains how a second mortgage can help you avoid having to pay private mortgage insurance. On the other hand, a HELOC can work as a “piggy bank” of sorts to use the equity in your house for a variety of purposes, from sending a child to college to paying for medical expenses. In addition, a HELOC can also serve as a ready source of cash for a real estate investor. The key? Spend the money wisely.
Larry Simons, broker/ owner of Home Hunters USA (Fort Myers, Florida) claims that most real estate agents do not even try to get listings from For Sale by Owner and Expired Listings properties because it takes them out of their comfort zone. However, Larry knows from experience that it is absolutely possible to get these listings… if one has both knowledge AND confidence. To this end, Larry lays out his strategy of approaching these homeowners, engaging them in discussion, and repeatedly making oneself available to assist them.
How do you present yourself in today’s social media marketplace or any marketplace? Michelle Moore, realtor, author, inspirational and motivational speaker, leadership coach, and sales trainer, begins by urging her students to determine their market or niche and then to think about ways they can add value to this market. From there, Michelle suggests that you should figure out which social media platform is used most by this niche. Finally, Michelle outlines six content categories for social media posts.
Did you know that if you make over $100,000 a year, you stand a 1 in 4 chance of being sued? In light of this reality, Larry McCumber, a real estate investor with over forty years’ experience, advises that an investor “control everything but own nothing.” To this end, Larry explores the benefits of living trusts, land trusts, and irrevocable trusts. In addition, he describes partnerships, LLCs, and corporations, giving particular attention to discuss: C Corporations, S Corporations, and Foreign Corporations.