Security is the foundation of every deal

  Peter Fortunato is arguably one of the most creative real estate deal structurers on the face of the planet. The way he crafts deals is nothing short of mind blowing. If he knows some key information, he can take a single house and give you at least 10 ways to construct a lucrative deal for both the buyer and seller. Every time I get to hang out with Pete,…

Take emotion out of it

I was talking to an investor recently about a property tax lien sale. These take place when counties auction off the tax liens that have accumulated due to unpaid property taxes. It’s a good way for local government to recoup some of their lost funds.   For investors, it’s a great opportunity. If you know what you’re doing at the tax sale, you’ll get either a guaranteed 18 percent return…

How to get started in real estate investing?

How to get started in real estate investing?   So what’s the best way to break into real estate investing? You may think you should start by getting approved for a loan. Maybe you think you should meet with contractors, realtors or even lawyers first. Perhaps you should buy one of those seminar packages who come with a mentor that will tell you exactly what to do next.   Here…

Using A “Handyman Special” Option

Using A “Handyman Special” Option   Have you ever experienced buyer’s remorse after purchasing a property that needed too much work? If you haven’t, count yourself blessed.   One time we bought a home that needed a ton of work. When we started pursuing the deal, I lived 15 minutes away; I was full of vigor and ready to knock out so major rehab.   A year later, when we…

Attorneys are people too

Attorneys are people too:   There’s a movie I really like called “The 13th Warrior.” It’s based on the epic of Beowulf with a few twists. There’s an extra character, played by Antonio Banderas, who ends up being the epics author.   Another twist happens with Grendle. In the epic, Grendle is a humanoid-ogre type beast who appears at night to fight and feast on the warriors sleeping in the…

Can you make creative offers with a realtor?

Can you make creative offers with a realtor?   You certainly can. Agents will present any and all written offers to their clients.   Just make sure you realize this doesn’t make the seller’s agent your agent, however. At the end of the day, the seller has a relationship with their agent. They trust their agent and have hired them to council them as to what is in their best…

Speak Splain

Speak splain:   I think Ricky Ricardo once told Lucy to “speak splain English.” As an investor, you should listen to Ricky’s words of wisdom. It’s often too easy for us to switch from speaking English to the other language we speak- legalese.   By definition, legalese is the formal and technical language of legal documents that is often hard to understand. It’s the language we speak when dealing with…

Patience

Patience:   We’re currently flipping a house down in Cartersville and part of the rehab design includes new kitchen cabinets. Now, we don’t normally do cabinets so I didn’t know who to turn to.   I got some recommendations for local cabinet makers and got a few bids on the project. After I picked my jaw up off the floor, I made my way over to one of the two…

Do Your Notes Need To Carry Interest?

I was at worship the other day with a five year old who was trying to sell his Rubik’s Cube.  I didn’t know they still make those things, but, I played along.  I asked him how much he wanted for the Rubik’s Cube.   Tyner:  “Nine hundred sixteen”. Me:  “Nine hundred sixteen what?” Tyner:  “Cents.” Me:  “Ok,”  “How about ten cents down, twenty cents a month until it is paid…