The anonymity of a land trust

The anonymity of a land trust

The anonymity of a land trust   When people are getting started in real estate investing, they often assume they need to form an entity like an LLC or an S Corp first thing. The two main reasons for this are to protect their assets from lawsuit and to take advantage of certain tax breaks.   In my opinion, due to formation and maintenance costs, neither of these entities are…

Lease option vs. lease purchase

Lease option vs. lease purchase

Lease option vs. lease purchase   I got a call from an investor recently needing some help with structuring a deal. He was in the process of buying a property and wanted to do “one of those lease option, lease purchase things” as his exit strategy.   As we talked, I realized just how easy it is to get those two terms confused and how freely people use them synonymously….

Did we buy an alligator?

Did we buy an alligator?

Did we buy an alligator?   Real estate investors are known for being risk takers. As a matter of fact, most of the time the reason an investor gets into trouble is because they estimated too high on what a property would sale for once they fixed it up.   The outcome for this speculation is that the investor gets too thin with their numbers and overpays for the property….

It’s a family business

It’s a family business

It’s a family business   I’ve got something on my heart that I really want to talk to you about. It has to do with a statistic I heard at a recent seminar. I heard that real estate investors, and entrepreneurs in general, get divorced from their spouses at a rate of 35%.   That means at least one out of every three people I see at a seminar is…

Empathy versus sympathy

Empathy versus sympathy

Empathy versus sympathy   Empathy and sympathy are two very similar words that have related meanings. They both have to do with understanding someone else’s feelings. That being said, you have to focus on one versus the other when it comes to making offers.   The late, great, Zig Ziglar has a story he uses to illustrate the difference between the two concepts. He talks about when he sold Saladmaster…

Door knocking update

Door knocking update

Door knocking update   We have spent the last week and half door knocking at all the pre-foreclosures in Whitfield, Gordon and Bartow Counties. And I have tell you, things are different out there than when we first started this practice.   When we started door knocking on pre-foreclosures in 2012, there would be anywhere from 75 to 150 properties advertised in the paper for foreclosure in each county. When…

Evaluating a big fat juicy deal

Evaluating a big fat juicy deal

Evaluating a big fat juicy deal   How many of you romance the idea of getting that big juicy deal that nets you $75,000 or more in profit? I know I do.     Logic dictates that in order to get bigger profits like this, you’re going to need to work with houses at higher price points. Right?   Well, it just so happened that we got a call last…

Inaction

Inaction

Inaction   I was reading a Facebook thread today where one my friends were asking what we thought the No. 1 killer of success was. That’s easy — inaction.     Inaction manifests itself in all kinds of forms. Sometimes it’s fear-based like when people are afraid to fail or even afraid to succeed. I can’t tell you how many times this very thing happened to Ashley and me when…

FOCUS like a lion

FOCUS like a lion

FOCUS like a lion   Ashley and I just got back from a mastermind meeting in Dallas, Texas. It was made up of real estate investors from all over the U.S. who are seeking to build better businesses by developing their systems and processes. Ya’ll, it was phenomenal!     Each investor gaves a 15-minute presentation where they told a little about themselves and their company. Next, they told the…

How we did our first deal

Lonnie Deals in Action

How we did our first deal   When Ashley and I realized we needed to make our living as real estate investors, it was 2009. We were freshly married, just out of college and didn’t have two nickels to rub together. To put it bluntly, we were completely broke.   On top of not being able to find jobs that fit with our bachelor’s degrees, we had a mound of…