Archive
I was recently invited to a mastermind meeting that had some pretty advanced investors in the room, one of whom was in the habit of buying tax liens – these are liens counties put against properties when homeowners don’t pay their property taxes. Counties do this so they can sell the liens at auction and recoup the funds they didn’t collect from the homeowner. This is called a tax lien...
We are doing our taxes right now. You may notice it’s August rather than April. Our reason for filling an extension is twofold. One, we get our accountant focused on just us instead of having to share her brain with everyone else. Two – and this is just rumor – I’ve heard you’re less likely to get audited by the IRS if you file an extension. I don’t know if that’s true, but have...
It’s as simple as it sounds: a benefit list lists all the benefits associated with a deal or offer you’re making. This is a great tool I garnered from two of my greatest teachers: Peter Fortunato and Bill Cook. Pete always talks about deals in terms of benefits, not money. There are lots of benefits associated with each deal that you can’t put a dollar amount on. For...
The purpose in making an offer isn’t to have some fancy paperwork that neither the seller nor the buyer understands. An offer is meant to start the process of a meeting of the minds. Once you have a meeting of the minds for both buyer and seller, you can make a deal. I’m often asked how I figure out what to put in my offers. I’d like to walk you through a real-life offer we just made. It...
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, he opens my mind to new...