The Real Estate Training Academy has a variety of training programs to help real estate investors of all levels of experience.
Posted on 26 July 2010.
The Real Estate Training Academy has a variety of training programs to help real estate investors of all levels of experience.
Posted in Featured ProgramsComments (0)
Posted on 24 July 2010.
Real estate investing is really simple if you simply follow the basics. The problem is that we have the tendency to complicate things more than they really need to be AND that we over-think things too much. We get “too much” specialized knowledge that it begins to cripple us.
When I started out in the business, I made a commitment that I had to implement at least one thing from any home study course I purchased, event I attended, or book that I read before I could buy something else. You see, we tend to keep looking for the “magic pill” to riches in real estate and no such thing exists. You need to actually take action and apply the specialized knowledge that you are getting — not simply go from strategy to strategy, never actually implementing anything. Read the full story
Posted in Getting StartedComments (0)
Posted on 16 July 2010.
Recently, we had a guest expert on our Interviews with the Expert series. The topic was investing in land. (Here’s the webinar link in case you want to check it out).
During the webinar, I had kind of an “aha” moment and I decided to do a “challenge”.
I was going to take Jack’s system (Note: I had NEVER gone through the materials personally prior to this) and implement it. My goal was to get a parcel of land under contract in 30 days or less.
Here’s What I Did…
I committed to spending 60 minutes/day on the system. Read the full story
Posted in Getting Started, SuccessComments (0)
Posted on 20 April 2010.
POINT # 1: Many investors believe that they can create a limited liability company (LLC) or file a corporate charter with the state and always have liability protection. This is SIMPLY NOT TRUE. The truth is that each of these business entities (the LLC, the corporation and even the limited partnership) require certain key steps after the structure is created. I always like to compare business entities to a fancy Italian sports car or a new baby…they WILL DEMAND PROPER CARE AND FEEDING!
They are fun on the first day, but you had better know how to maintain Read the full story
Posted in Legal & TaxComments (0)
Posted on 10 April 2010.
The best way to understand a corporation, limited liability company (or even a limited partnership) is to realize that each creates a special legal relationship or privilege between the business owner(s) and the government. These areas of government include:
1. State Government (including state taxing authorities and the state court system)
2. The Federal Government (specifically the IRS and the Bankruptcy court system)
You may be saying, alright Darius, I still don’t understand what you mean by a relationship or privilege. The best way that I can put it is this:
A business entity is a legal relationship which allows for certain privileges. Read the full story
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Posted on 05 April 2010.
The only real solution for real estate investing mistakes is consistent action! You’ve got to stick with it and realize that part of learning process. You WILL make mistakes… and you will continue to make them for as long as you choose to invest.
The key is to learn from each and move on. Add it to a policy and procedure manual so to speak! And avoid that particular real estate investing mistake in the future!
When I first started in real estate, I would document every real estate deal in detail. I would be sure to document: (1) What went well, (2) What didn’t go well!, Read the full story
Posted in Rehabbing, SuccessComments (0)
Posted on 04 April 2010.
When I first got started in real estate investing, I was the poster child for mistakes! The one thing I did PROPERLY was that I took action. And success favors the people that take action.
The key is to keep moving and not dwell on each individual real estate investing mistake that you make, especially early on! Just keep on going… and take a few minutes to figure out what the lesson was, add it to your knowledge and experience bank, and move on to the next!
In this article series, I’ve highlighted 17 real estate investing mistakes that I made early on and share with you what you can do to avoid making the same real estate investing mistakes I made…
The first mistake new real estate investors make is always thinking the grass is greener on the other side! That “another” market will have better deals, more motivated sellers, and more qualified buyers. Once your business is established with duplicatable systems in place, it can be easy to expand into additional markets. But in the beginning, stick with your targeted farm area. Read the full story
Posted in Getting Started, SuccessComments (0)
Posted on 02 April 2010.
Real estate investing is exciting when you’re just getting started. Real estate is all you can think about and all you can talk about. Your enthusiasm rubs off on others and you instantly start attracting people that want to lend money on for deals, partner with you on properties, joint venture with you on aspects of your business, etc.
The problem is that when you’re so excited, it’s hard to imagine anything EVER going wrong. Why would you need anything more than a handshake and verbal agreement?
Sure, you may be laughing as you read this, but you’ll see… when it comes time to putting a joint venture together, you’ll be eager to get moving along and you just might make this critical real estate investing mistake… and it COULD wind up costing you tens of thousands of dollars, friendships, and worse. Read the full story
Posted in Business Structures, Getting Started, SuccessComments (0)
Posted on 31 March 2010.
There are only 7 steps you need to master to be successful in real estate. If you fail to master any single step, you’re building your real estate business on a weak foundation. Wouldn’t you rather build your home on a rock-solid, unbreakable foundation?
Step #1: How To Set Your Business Up And Build Your Team
I defer to Napoleon Hill! If you look at people that have been successful in the past, a common thread is the people they are surrounded with. You need to build your team with the RIGHT people.
Remember, you get what you pay for! (To give you an idea Read the full story
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Posted on 25 March 2010.
A business entity can provide personal liability protection for its owners. The problem is that many people start business without proper instruction on how to run and manage agreements between parties, agreements with customers, internal paperwork, cash controls, voting rules, state and Federal reporting requirements and a host of other issues.
In fact, we have found between 20 to 25 actions, behaviors, or neglected tasks which commonly cause a business structure to be forfeited and can result in personal liability for the owner or owners.
Here are 5 of them:
#1. USING THE BUSINESS FOR FRAUDULENT ACTIVITIES: YOU CANNOT, SHOULD NOT, AND SHALL NOT USE YOUR BUSINESS TO CHEAT OR DEFRAUD: For example, John Smith gathers money from investors claiming that he will develop a new product for his company. Read the full story
Posted in Business Structures, Getting StartedComments (0)
