Naked Lady Real Estate, The Bare Truth About Real Estate Investing

Pitch Fest Seminars.... You bring it upon yourselves.

Well it’s true.  Why do I know this? Because I run my own real estate club where we bring investors quality education and networking  at an affordable price without all the hype. What this means is that my meetings and events stay away from the “pitch fest” that one might experience at other events.  Sounds like a great plan right?

CLICK HERE TO read my full post on Biggerpockets.com

Distressed Property Investing Business Conference

Well - it sure has been couple of days!  After the successful tele-coaching call I had with Rob Swanson on Monday -  we've had almost 60 more people register to attend the Distressed Property Investing Conference we are having this weekend!

Rob has really been pounding into my head that I must run my real estate investing business as "A BUSINESS" and not like "a investor".   

One of the Biggest Transfers of Wealth Will Happen over The Next Couple of Years

I want to be part of this! With the financial crisis going on in this country - there is NO TIME LIKE NOW, for us investors to master our investing business and be in on the huge money making oppportunity will happen over next couple of years!  Marketing, structuring deals, private money and having our exit plan on each deal well before before we buy the deal is #1 for us.    

Besides him teaching me that I must wholesale every house I get (even to myself), I've also learned that I need to hurry up and set up my AQUISTIONS Team!  Getting a lot of deals streaming in is the ONLY WAY I'll be able to make my goal of 5-6 houses a month!  I can't bring in 50-60 leads on my own!  He has 3 people and various sources bringing at least 100 leads a month to him and guess what - he doesn't pay them until each deal closes! 

Rob closes up to 15-20 houses a month - so for me, there is no better investor for me to take advise and coaching from!

We recorded the call and it's now available for you to listen to!  Also, I made a great deal with Rob that I announced on the call - and I have VIP Guest passes that are available for you now!

So, here's my deal for you.  The Distressed Property Investing Conference is THIS WEEKEND Oct 25 & 26!  If you're not already registered to go, you are missing a one of my major real estate educational events.

I am so convinced you must attend the Distressed Property Investing Conference (because I have learned from and seen Rob speak many times), that Rob and I worked out a deal so that I could offer you to attend the conference for NO CHARGE!

Yeppers....   You heard me!  You are being invited to attend the Distressed Property Investing Conference for FREE.

To download your VIP Pass please click HERE 

Also, If you're on the fence about attending, want to sit on the couch and "window" shop the Distressed Property Investing Conference, well, You Still Have the opportunity to listen to the call! 

You can have your chance to hear Rob teach you how following his simple business model will help you master the Distressed Property Investing Business. 
 
He really knows what he is doing!  If I plan on closing 5 to 6 deals a month, I need only serious investors teach and coach me and get me on track! 

Rob is now one of "my peeps" to help me make it happen!   

Remember - Rob is not a guru!  He's just a serious real estate investor and a hard worker!

I hope you take advantage of my great negotiating skills (I'm getting better at!) and the deal I worked out with Rob and attend this education conference on The #1 thing we all need to Master:  The Distressed Property Investing BUSINESS

See you at the Conference!  Yahoo! 

Are you a real estate investor or a Real Estate Investing Busienss?

One of the biggest things I am learning right now is to change my mindset from being “just a” real estate investor (who does a deal at a time) to being a Full-time Real Estate Investing Business and Company.

What does this mean?

CLICK HERE TO READ THE REST OF MY ARTICLE "Being a Real Estate Investor vs. Being a Real Estate Investing Business" on biggerpockets.com

Not enough deals coming through your pipeline?

How many leads do you have coming through your pipeline? Do you have a pipeline? 

Last night Rob Swanson spoke at our Anaheim Monthly meeting (tonight he will be at our Los Angeles monthly meeting!) and I really had an important "kick in the ass".  I don't have enough leads coming in and this is why my deals are few and far between right now. 

Ah Duh!  Don't I already know this?  I have allowed myself to loose my focus on my #1 money maker - which is marketing, marketing, marketing.  Sure I market the heck out of my real estate club, but what about my #1 business?  My Distressed Property Investing Business??? 

For the rest of this post please click here to read it on our Forums.

If you didnt make it to our Anaheim meeting last night - then I highly recommend you get to our Los Angeles meeting tonight!  Rob is one of the best real estate investors that I have met in my whole investing career.  Don't miss him! 

Los Angeles Monthly Meeting - 2nd Thurs of each month
Thursday, October 9th
6:30 - Networking    7:30 Meeting
Am Vets Hall
10858 Culver Blvd
Culver City, CA 90230
1 1/2 blocks West of Overland - between Coombs and Elenda

Real Estate Clubs... are they important?

Yes!  Of course they are! (Ah Duh! I own a real estate club - what else am I going to say!) Attending real estate investor club meetings are very important for us investors!  We need to have ongoing continuing  education, network with other investors, learn about deals, and often - we need a place to go to receive help from each other!

Are all real estate investor clubs (REIC's or REIA's) like this?  Heck no!  Are there some good ones out there!  You betcha!  I have a few club meetings that I like to attend here in Los Angeles.   There is the Woman's Invest Club in Irvine which is very focused on the Education and networking.  Also, some other goodies are Steve and Robyn Love's meetings in Culver City and Shawn Watkins in Long Beach.  Another Oldie - but goodie that I hear about is Jack Millers in Anaheim ( I think that is where it is).  So yes - there are ways to get good information without all the bull.

Of couse, most of you know that I used to run the largest REIC in Los Angeles up until March of this year.  I left and started my own club here in Los Angeles - because I wanted to create my "ideal scene" for a REIC. I just got so tired of the pitch fest that was happening at many of the clubs (yes including the one that I worked at), that I had to bust a move and break loose!  I named it Naked Real Estate Investors Club - "The Bare Truth About Real Estate Investing".  The Bare Truth - means just that!  I am going to work my tail off to make sure that you are getting quality and NOT HYPE!

So - now, here I am... a crazy little girl who decided to open her own club so that I can bring in the mack daddy people to teach us - those who were not going to blow smoke up our culo. 

When I tell everyone that my club is OUR club - I mean it.  Together with the help of everyone - I want to create the best club in town.  I can bring in the best people - and I need all of you to participate so that we have a viable club that speakers will want to come in and speak at!   Yahooo!

I hope to see you are our MEETINGS THIS WEEK!  We have two for you to choose from.

Anaheim - Wednesday October 8th
Los Angeles - Thursday, October 9th

Networking:  6:30pm          Meeting: 7:30pm

Speaker:  ROB SWANSON!
Topic:  Mastering the Distressed Property Investing Business!
(Rob is one of my real estate mentors and he is truly one of the best in the business!)

Locations:

Anaheim - Wed, Oct 8th
Double Tree Guest Suites
2085 South Harbor Blvd
Anaheim, CA 92802

Los Angeles - Thurs, Oct 9th
Am Vets Hall
10858 Culver Blvd
Culver City, Ca 90230

  CLICK HERE FOR DETAILED INFORMATION on the MEETINGS

I hope to See you there!

Taking a house over with no equity? Sure!

I replied to discussion on the Biggerpockets discussion board regarding subject 2 investing and decided that I wanted to post my answer here on my blog:

I live in Los Angeles, so this example is based on deals here.  I understand that there are many areas where homes do not appreciate at the rate they would in L.A..

I think of subject to houses with little or no equity as my long term holds.  I would absolutely take over a house with little or no equity and stick it in a land trust depending on a couple of things:

1.  Area - is it a decent to good area that will go up in value when this market crash is over - say 5,7, 10 years from now?

2.  Is the monthly PITI able to be covered in lease option/owner financing with a minimum of $200 bucks cash flow (more is better obviously).

3. Is the owner willing to hold the loan for at least 5,7,10 years?

If I put someone in the house with owner financing I can also bump up the equity and the monthly payment.

For instance:
FMV:  150K - today
Loan:   140-150K - Fixed - not adjustable.
PITI:     900-1000

For owner financing: I can get 1200-1500 a month for this property depending on the  neighborhood and get a down of 5,10, 20% (or more!) from my buyers now.

Sell the property at $175-200 (depending on area) to be cashed out in 5-7 years. 

Goal:  Have 30-50 (or more! yahoo!) of these homes in 5-7 years that start cashing out.

Remember this is just a portion of the long term subject-to holds.  You will also have sub-to's that have decent equity now, and any other properties you buy such as REO houses that you would be holding.  (additionally if you are doing a lot of marketing, you will get a hold of some houses that you might just wholesale or even be able to retail out now- that is if anyone could get a loan.)   

Additionally some of these folks may cash out before 5 years.  If the house only goes up  "only" 20-25K - so what.  You got a decent deposit up front and several hundred dollars cash flow and you weren't a landlord.

I know there are a lot of very experienced and long time investors that would beg to differ about getting homes with little or no equity - however I really do think it boils down to knowing your exit strategy on the property before you even make the deal.   Make sure you know your area.  Never take a deal just for the sake of having a deal.

I've turned down plently of "deals" that had no equity simply because they didn't fit my formula and exit strategy.  It only took me 2 years to learn this...the hard way!!

So what do you think?  I have taken the house over with no money out of pocket. Am I being too risky here?