Wow! We hit a home-run with this one!

OK before you think I am getting full of my lil real estate self only a couple of days back on the show give me a sec.

Don Derosa joined me today to talk about something very important. "How do you make money in real estate today!!"Don opened up and share some real no holds barred stuff. He didn't sugar coat it. Instead he talked about exactly what he is doing, the real numbers he is getting in profits and why it works. Here are some of the things Don touched on today:

I had a great question this week about trying to find a lender to provide small loans and still work a self-directed IRA.  Instead of me answering the question I went straight to the source, Don Derosa and picked his brain on the topic.

Make sure you visit http://thereiminute.com for links to the tools featured on today's show.

http://thereiminute.com/alternatives-to-owner-financing A new security instrument is poised to hit the real estate market, HEFI, Home Equity Fractional Interests. This has the potential to allow real estate investors to participate in mortgage modification plans. Additionally investors can use the instrument in place of owner financing on the homes they sell.

http://thereiminute.com/how-to-assign-a-real-estate-contract Today we answer two very important questions, "How to Assign a Real Estate Contract" and "How to Analyze Short Sale Leads." Not only are these great questions from viewers like you they also are signal of where the market is heating up, Bank Owned Homes and Short Sales! Now is the time to learn how to invest in both of them.

http://www.thereiminute.com/how-to-profit-from-bank-owned-homes/ Catch this sneak peek at the 2 hour plus video seminar Andy Heller did for us on buying bank owned homes and sensibly lease optioning them for multiple streams of income and low maintenance motivated tenants.

http://thereiminute.com/profiting-from-short-sales Short Sales are making up 50% of the foreclosure market today. Understanding how to profit from them and work effectively with realtors can make any investors business. Get the inside scoop from our industry expert, Bob Massey.

http://thereiminute.com/answer-your-questions How do you get more than 10 mortgages, get a property converted to a rental home and how do you make quick cash in real estate, we answer it all today.

Watch the entire video at http://thereiminute.com/should-i-get-a-real-estate-license Have you asked yourself if you should get a real estate license as a real estate investor? Today we go through the pro's and con's of realtor licenses for real estate investors.

Working Short Sales with Realtors - Bob Massey

I had a great conversation with Bob Massey on how to harness the time and knowledge of realtors to help you find and work short sale deals.  If you ever thought you didn't want to get into the short sale market because...

• You don't have the time
• Don't want to visit distressed sellers
• Don't have the money to work the deal
• Can't meet with a BPO agent
• Wouldn't know where to find buyers

Then you need to listen very carefully to this interview. Plus at the end there is a great Q&A session with awesome questions from those that were live on the webinar.

Check out more about this at http://getrealrei.com/shortsale

Episode 14 – Lease Options, Foreclosures and Part-Time Investing

Today’s Question was…

“I am a fairly new investor with a full-time job. I bought two properties in 2008 before my daughter was born, and haven’t purchased anything since. I work a regular 9-5 and take care of my daughter at nights and on weekends. I am determined to purchase at least one property this year by enlisting the help of others as much as I can to help make up for my lack of time. However, I was wondering what advice you have for investors with little time to go out and look at houses. Any courses you recommend I look at?” – JT

Watch today’s show for the answer.

Links Today

Andy Heller Interview

If you are new to investing or have been working the business for years you know that the most important thing in your business is to have a network of contractors, professionals and other investors to build your business with. In the past it took long hours and running all over town meeting new people to get the task done. Our friend Andy Heller has just launched what we think is going to be one of the biggest networking tools ever for real estate investors and it is totally free. Check it out at http://realtyjoin.com/getreal and listen in to this special episode as Andy explains all of the details. Did I mention it is FREE!!

Just like every year when we get to the new year we start to look at doing new things in our businesses. On this week's show we are sharing with you 5 things you should focus on when planning to take action and make some money in real estate this year.

Big Changes!!

After a lot of work we have made the decision to change up the format to Get Real this year. We are going to start doing short videos 3 times a week for you to get your real estate investing fix :-) We will no longer be doing the 1 hour show each week. The great news is we are adding 2 hours a month of shows to the real estate investing club and are going to add 100's of hours of video, audio and other educational resources there. Check out the changes at http://getrealrei.com/membership/join-us

Listen to this Episode

Is 2010 going to be the year you break out and make real estate investing your full time business? or at least start making more, consistently? We have put together 3 Things You Need to Know if You are going to make money in real estate in 2010. Listen in as we break down each of these items. Here is a sneak peak...

Buy Bank Owned Foreclosures Learn How to Acquire Private Money/Credit Pounce on the First Time Homebuyer's Tax Credit

Listener Mail

"How should I invest my tax credit money?"

Real Estate News

Zillow has just introduced their new service offering, rental comparables. While everyone wants to know if Zillow is accurate for housing prices millions are still using it and their data gets better every day. We wonder how long it will take for the rental comparables, which is much harder to gather, to be a reliable source of information.

If there was a way to utilize other people's money to fund your deals would you be able to do more deals? Absolutely the only thing that would hold you back is finding people with the funds. I know many people don't have a lot of extra cash lying around but you would be amazed by the number of people with money in their IRA's just dying to get a better return on their investment and jump into this super low priced real estate market.

Todd Senff from Equity Trust a self-directed IRA custodian joined us this week to answer all of your questions and to get you started getting all of the private money you can handle from other people's self-directed IRA's. Todd shared some great information including...

• What is a Real Estate IRA?
• What are the restrictions on doing deals with IRA money
• What type of retirement accounts are self-directable
• Can an IRA take out a mortgage loan?

Listener Mail

"How will updating my HVAC unit and windows increase the sales price of my home" From my DAD :-D

Stocking Stuffer

While they last we have some spots left in our 2009 Stocking Stuffer offer, that means over 20 hours or 16 DVD's worth of real estate investing training for only $99. These are limited though so get yours today and let your family know what a great gift it would be. http://getrealrei.com/stockingstuffer

No matter what type of investing you plan to practice at some point you will need to rely on a quality contractor with integrity. This week on the show we spoke with contractor and investor Chuck Whiteside. Chuck shared some of his experience so that we could find the best way to find a good contractor and how to work with them. Chuck even shared information about when to hire a general contractor and when to go it alone.

Stocking Stuffer

The holiday season is finally here and we have topped any of our past annual stocking stuffers by offering over 20 hours of real estate investing education on video, for only $99. Check out the details at http://bit.ly/4J6Kh2

Listener Mail

"Is it possible to include in a contract with a contractor to hold part of the pay after the job is complete in case there are issues with the work completed?"

iPhone App Extras

Video - Rehab house critique (coming soon)

It's true that there are a ton of great deals out there in the real estate market today. The fact is there aren't as many buyers as there used to be. For the savvy real estate investor that means acquiring properties at great prices today and holding them for long term growth. If you have any rental properties in your portfolio you know how important it is manage the properties and tenants correctly. Mark Walters of MW Properties joins us to help you navigate the property manager selection process and the things to do to keep people in your homes.

Real Estate Investing in the News

• Fannie Mae gets into the rental game
• Update on the Treasury Departments mortgage bailout program

Listener Mail

"What loan modifications are there available for real estate investors and how does it affect your credit?"

Do you have a real estate question? Call 800-878-4982 and leave a message or click here to ask now.

iPhone App Extras

Getting 5 Star Tenants by Greg Gardner (pdf)

On this week's show we are doing something a little different. We are dedicated the entire show to answering your questions and filling you in on some important things going on in the real estate investing industry. Being successful is not just about finding the next great deal but it also includes understanding what is going on in the world around us so we can capitalize on new developments to further our business. This week we are answering questions including...

 

• How do I find a good property manager
• Do owners need to own a home 100% to do creative owner financing
• How to increase rent on a Section 8 property
• What are our cash flow requirements for a rental property

Plus we are keeping you up on new developments in real estate investing including...

• The first time home buyer's tax credit extension
• The new move-up home buyer's tax credit

iPhone App Extras

Google Real Estate Video

The number of bank owned homes has skyrocketed in the last few years. With so much inventory it has become important for banks and corporate owners to come up with alternative methods to selling homes other than just on the MLS. Amy Bates, SVP of Marketing at Williams & Williams Auctions, one of the premier auction companies in the country, shared with us the inside information on how auctions work.

Amy explained the whole process and benefits of buying homes post-foreclosure at the auction including...

• The ability to inspect the property during an open house well before the auction.
• The property has already gone through the foreclosure process and title has been cleared.
• You have 30 days after an accepted offer to close on the property
• Auctions can lead to competitive prices for buyers to pick up good deals.
• With a large reputable firm you have confidence in the purchase process

If you would like more information Williams & Williams auctions visit http://www.williamsauction.com or to watch a real auction live online check out http://www.auctionnetwork.com

Listener Mail

"I need to find affordable insurance for a house I'm buying to rehab and flip, something that will at least cover the structure. How do you guys do it?" - Dave in Toledo

With so many homes headed to foreclosure there are a lot of ways to jump on what has really become a hot pre-foreclosure market especially in areas of the country where housing prices have seen a correction. If you aren't into short sales or working subject-to deals then your next option is public auctions. Tanya Marchiol is an experienced investor and realtor and president and founder of Team Investments, http://teaminvestmentsinc.com who walks us through just what to do to have a positive auction experience including...

 

• How to line up financing before the auction
• How to find auctions and the homes being sold
• How to do your due diligence before the auction
• The "secret sauce" building team members that are pro's at auctions
• How to get the deal closed so you can get started working on turning it to cash!!

Today's Listener Question

"Can you tell me the best way to get a credit check on a tenant?" - Cheryl

iPhone App Bonus Content

Credit and background checks Video

Kris Kirschner

Kris started investing part time as a struggling UPS driver. Amazingly in just 23 minutes he was a bonafide millionaire investing part time. Kris loves to have a system so all of the repetitive work is removed from the buying, making offers and selling process.

On this webinar Kris going to show you...

• 3 ways anyone can buy with no money or credit in this market
• How to make $15,000 part time using an automated system
• How to integrate direct mail and the web to get 30-40 motivated sellers per month
• Get paid on deals even if there appears to be no equity in the property
• How to talk with sellers to close deals that others won't even think about

We had some great response from the live viewers when this webinar aired. Make sure you review this and learn from Kris. If you are just starting out or struggling to get consistent deals and still have time for the things that matter like family and friends I think the light bulb is going to come on for you after checking this out.

Download and watch the Webinar

Download the audio to listen to later

Want more information on Kris' Autopilot system? Click Here Now

Brian Berman

Brian joined us this week to talk about all types of loan programs we can use as investors to get our buyers financed.  The sooner they get money, the sooner we get ours. Brian explained some great programs such as Fannie Mae's Home Path program and many others.  These are great programs for "fragile" buyers and some of these programs may even get us financed too.

Question and Answer Show

On this week's show we are answering your burning questions.  We have everything from loan modificaton info to neighborhood revitalization to how to work with private lenders.  Tune in and hear the answers.  If you have questions make sure you email us at questions at getrealrei.com.

Michael Moulton

Michael is a long time investor and realtor with a successful investing business.  Michael's company specializes in helping people in pre-foreclosure by working short sales.  He shared some great info about finding good shortsale candidates and how to sell them.  If you are looking for a great way to really pounce on the current real estate market make sure you take notes on what Michael has to say.

Chip Ahlswede

Chip has joined us again for another update on current and upcoming laws that all investors and realtors need to be aware of.  Chip specializes in educated real estate professionals on not only knowing about laws but taking advantage of them to further your business.  Check out this very informative show and stay up to date on Federal, State and Local government real estate legislation.

Garrett Sutton

Asset protection specialist and author Garrett Sutton joined us this week to share some really important information every real estate entrepreneur and potential investor should know.  Proper asset creation and maintaining your entity can make or cost you a lot of money.  Don't miss this very important conversation.

Jim Sahnger

With the record number of homeowners in default many do not need to go to the extreme of a short sale.  Join us this week as Jim explains what a loan modification is, what we need to know about who is a good candidate and how we can make money in the process.

Jim Hopwood

Today we are going to talk about insurance and learn just what types of insurance we need for our rental properties.  Jim has a lot of good ideas to help cover your property and liabilities including letting your tenants pay for part of it.  Listen in and decide if you are on the right track with your insurance policies.

Mark Kreditor

Mark is a professional property manager who has 1,200 single family and 300 condo units under management.  Obviously with that many properties you need to have a system in place to manage everything quickly and efficiently while keeping the rents rolling in.  Listen in to this information filled interview as Mark shares his approach to property management that has made him successful for the last 28 years!

Financing Question and Answer Show

Apparently financing is a hot topic in today's market.  Many of the questions on our Q&A show revolve around financing with a little property management thrown into the mix.

Michael Stansbury

Michael is a graduate from Get the Keys and an accomplished real estate investor and realtor.  He joined us this week to talk about how to finance deals through your local or regional bank.  Michael also shared some good ways to find deals without spending any money to get it done.  This is some really good information that anyone can use to get deals done.  Michael has done 9 deals since Get the Keys in December and so can you.

Question and Answer Show

On this week's show we are answering a lot of really good questions from how to get started to our follow up on a past question about wholesaling homes.  There is a lot of good info about some basic and advanced investing techniques.

Trent Conaway

Trent has been with us on the show before and we asked him back to tell us about his real estate investing activities over the last year.  Trent is a personable guy who is very down to earth and takes a conservative approach to real estate investing.  But don't let that fool you he has been very successful over the past couple of years.  We find out what he is up to and also how he is overcoming his biggest obstacle in this market, financing properties.

Greg Simo

Fellow investor and listener Greg Simo shares all that he has going on and it is quite a bit.  Greg is a Real Estate Broker, property manager, investor, rehabber, dad and oh yeah he has a full time job too! Listen in as Greg shares the best ways he has found to get free real estate investing education and what he did to get started.  Greg is going to share an REO deal with us too.

Nancy Braun

We have focused on capitalizing on the huge foreclosure market we are faced with today.  As real estate investors we need to come up with a competitive advantage.  Knowing the ins and outs of buying foreclosures is the key.  Nancy Braun specializes in helping banks sell their foreclosed homes.  Get the inside information on how to find and buy the best deals in your local foreclosure market.

Q&A

We have some good questions this show.  Since it is foreclosure month at Get Real we tried to work in some questions about foreclosures too.  Our questions included;

• How to structure an owner financed deal
• How can you become an REO agent for the banks
• How are lease/options structured
• Getting started in real estate
• The difference between a wholesaler and buyer's agent

Andy Heller - Financing Foreclosures

It is sooo easy to find bank owned foreclosures that are really good deals.  With the flood of homes coming back to the banks and them sinking quickly they are ready to deal.  The issue has been how do you get them financed in today's mortgage market.  Andy Heller joins us this week to pull back the curtain on how he has been able to not only survive but swallow up many foreclosures in the current market.

Kathy Thigpen

Landlords are always looking for ways to get their units rented as quick as possible and to the best candidates possible.  Kathy has been a successful landlord for 12 years and has been renting to tenants with Section 8 vouchers for 10 of those years.

If you want to learn more about the basics of government assisted rental programs and would like your rent check deposited directly to your checking account on time every month then make sure you listen in to this episode.

Mary Thompson

Mary is an experienced appraiser and real estate investor that has been appraising for more than 15 years.  As the markets have changed recently it is extremely important to have a good idea of what our purchases will appraise for and even more important to understand what our rehabbed homes will appraise for when they are refinanced.  Join us as Mary breaks down the process and how to get the most bang for your buck on your rehab projects.

Todd Huettner

Todd is a long time real estate professional and owner of Huettner Capital. This week Todd shares with us some of the ins and outs of current underwriting guidelines for residential real estate investors.  Times have changed but Todd is going to tell us how we can still work with mortgages even in this market.

Greg Scott

Greg is a long time listener and first time investor who was brave enough to come on the air this week and share his first deal with us.  Greg did a whole bunch of things really well on this deal and he also learned a couple of lessons along the way.  Listen in as we all learn some creative ideas for selling real estate in this market.

Dan Schar

Listen in this week as fellow listener Dan Schar shares his experience purchasing a home recently with a business line of credit.  Dan has been investing for a while and has real opened up his business to learn about how he acquires properties and his niche area, student housing.  There is some really great info for investors at all levels.

Goal Setting

In today's market is more important than ever to have a game plan.  If you don't have goals and a specific path to achieve them you may end up drifiting along like many other investors.  I have many people ask me, "Is it possible to get out of my day job and become a full time investor in 3, 6 12 months?"  The answer really lies with you.  Are you willing to develop a plan and stick with it no matter what?  This week we look at how to set and execute goals.

Jeffrey Richman

Jeffrey is a long time investor and friend of the show.  Jeff has always been good at looking at the current market conditions and coming up with a way to make money in real estate. Jeff is an expert in subject-to's, wholesaling and equity sharing.  In this week's episode Jeff shares with us what he thinks will work for the next 24 months and how to really profit in real estate investing.  He has been spending his time really focusing on how to sell homes in this market.

Developing Your Business Plan

One of the most common questions I get from people that download their free ebook, "How to Dazzle Your Banker" when they sign up for our email list at http://www.getrealrei.com is how do you create a business plan. So this week we are going to tackle that question in detail.  We are also dedicated this month's newsletter to building your business plan and goal setting.  You can find out more at http://www.getrealrei.com/newsletter

2009!!!

Welcome to a new year and new opportunities in real estate investing.  For our first show of the year we are going to talk about upcoming changes for Get Real and answer some really good questions along the way.  We can't wait to help everyone out with their real estate investing for 2009.

Questions and Answers

We have had some really great questions lately and decided to take a shot at answering them.  There is everything from subject-to's to marketing in this show.  There are some great tidbits to help your real estate investing business.

Preston Sandlin

Investors who do rehabs or buy rental properties work with inspectors on a daily basis.  Preston shared with us what an inspector can do for us and what we need to look at on inspection reports.  Listen in for some great tidbits on how to work with inspectors.

Pre-foreclosures

With the number of people going into foreclosure skyrocketing we think it is really important to understand the entire foreclosure process and how to cash in on the good deals.  This week we will focus just on the process of foreclosure and the pre-foreclosure portion.  This is a multi-facetted subject.  We go more in-depth in this month's edition of our newsletter from our Platinum Membership Program.

Jeff Buchanan

We all know now is a wonderful time to buy and hold homes and multifamily properties.  Many of us don't have the time to manage our own properties.  Jeff joins us this week to explain what a property manager should and shouldn't do for you and how to find the best property manager for your properties.  This may be the first step for many new investors in hiring their first employee/vendor.  Your property manager is a very important part of your team and can make or break the success of your rental properties.

A little bit of everything

Today we talked about a little bit of everything from working on short sales on bankruptcy leads to managing properties and screening tenants.  There should be something for everyone to key in on today or knowledge to lock away for future reference.

Q&A Show

On Today's show we answered a bunch of different questions from Asset Protection to Property Management.  I even got to ask Lynn a question about investing in our current market.

Brandon Smith

If you are looking for some free and really great tax savings tips and money makers for your real estate business then this is a must listen to show.  Brandon Smith from Smith and Shin, CPA's joined us today.  Brandon is our accountant as well as many other real estate investors.  His firm only works with real estate investor clients.  Listen to the show to find out things like how to get a $7,500 check from the IRS, how to make trips to your parent's houses tax deductible and a whole lot more.  This is a golden opportunity to make and save money.

David Jenks

David is co-author of SHIFT.  A book that addresses the issues of the changing real estate market and how to profit.  The book is co-authored with Gary Keller of Keller Williams.  It is focused toward the real estate agent but as many of us realize the issue in this market for investors is selling homes and the principles taught in this book carry through to investors as much as realtors.  David outlines some really good fundamental principles for improving your real estate investing business in a slow market.

Full Time Real Estate Investor

For a little change of pace I get interviewed this week about when Lynn and I started investing in real estate full time. There are some unique obstacles and some really great benefits of going full time but the question is always, How do I know when to and How do I get to that point.

Josh Nolke, long time listener and real estate investor joined us to talk about how he was able to go from zero properties 2 years ago to 13 income producing properties today. Josh has a full time job and was able to leverage networking to find and manage good properties. Listen in as he explains the ways he started to get financing and how he is able to now get loans from regional and local banks without having to come out of pocket for the purchase or repairs. Lots of great information from a real world part-time investor.

Matt Gerchow

Using the internet to gather leads and manage your business has become a necessity more than just a luxury.  With so many people turning to the web to sell homes you have to be in the game to get the deals.  Matt shared with us just how he does it and how to use the web to manage your leads and a landing page for your direct mail campaigns.  He also provided some really great information for staying organized so you follow up on your leads for cash.

Social Media and Real Estate Investing

You can't turn on your computer or t.v. without hearing something about tweeting this or checking out so and so's Facebook page. It is true, social media is here to stay. Many business owners are finding it a great way to connect with their customers. Many investors haven't really harnessed the power of these tools. Just about every realtor I know that is working the business hard is doing something with Twitter. There are even continuing education classes offered for realtors to learn how to use it properly.

On today's show we share with you some of the basics of how you as a real estate investor can capitalize on these free services to do so many things from finding homes to networking to build your team and bring in the leads, maybe even sell or rent a house.

Get started by Following us on Twitter and becoming our friend on Facebook.

Don Derosa - GAREIA

Our friend and investor Don Derosa joined us to tell us all about Real Estate Investing Clubs. Why Don? He is the president of the GAREIA, the nation's largest real estate club, and he has been serving there for 12 years.  Don has some great ideas on how to get plugged in and get the most out of one of the best tools you could ever have in your real estate investing arsenal.

Paul Habibi

Paul joined us this week to finally answer some of your burning questions about investing in condominiums.  There are many condos on the market today but how do we figure out what a good deal is.  What kind of discount do I need? What is good cash flow. Where do I find the deals? Paul is going to answer all of these questions and more from his years of experience developing and investing in mixed use projects and as a lecturer at UCLA's Anderson School of Business.

John Hyre

It isn't often that we have a guest on that can help you learn how to get up to $8,000 from the IRS but that is what John is going to do on today's show.  He is going to help you learn how to sell your homes, finally, to qualified buyers.  If you are thinking that you can't get anyone qualified through a bank for a mortgage then that is fine.  This is your chance to sell on land contract and still get the tax credit.  What a deal!

Andy Heller

Andy joined us today to share how he works with banks to find the best deals and get the best price on bank owned foreclosures.  He has a ton of really great ideas on finding and tracking the deals.  I promise this show will be well worth your time. If you want to learn everything Andy has to offer visit http://www.getrealrei.com/fortunelauncher

Amy Walsh

Amy joined us this week to share with us the ins and outs of 1031 exchanges.  They are a great way to defer tax implications on the sale of your property.  Make sure you listen in because even if you don't have your own properties to exchange you may partner with other people that can exchange properties to fund deals you can participate in.

Mike Knight

Mike is a realtor that specializes in helping investors find and manage their properties.  Many of Mike’s clients invest long distance and passively.  He sat down with us this week to share what he thinks are good deals in today’s market and how investors, especially new investors can profit from this unprecedented market.