North Metro Real Estate Investors Association https://northmetroreia.com Fri, 21 May 2021 13:29:18 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.18 https://northmetroreia.com/wp-content/uploads/cropped-Favicon-NorthMetro-32x32.png North Metro Real Estate Investors Association https://northmetroreia.com 32 32 Asset Protection Strategies https://www.memberize.com/clubportal/EventDisplayNew.cfm?clubID=1311&EventID=256106&mo=3&tDate=%7Bd%20%272019%2D03%2D18%27%7D#new_tab https://www.memberize.com/clubportal/EventDisplayNew.cfm?clubID=1311&EventID=256106&mo=3&tDate=%7Bd%20%272019%2D03%2D18%27%7D#new_tab#respond Mon, 18 Feb 2019 17:41:52 +0000 https://aa224e7557.nxcli.net/?p=5636 On Thursday, March 7th, we have an incredible opportunity for you to learn the basics of asset protection from one of the country’s foremost experts on the subject!  We are very proud to host Doug Shaddix, founder of Wealth Preservation Solutions, LLC. which specializes in helping clients avoid probate, minimize their tax burden, and maximize their privacy by utilizing trusts and entities that assist you in your asset protection. Attorney Shaddix will be sharing his knowledge and expertise on this very timely and important subject.  Why is this so important? Here’s why…

If you have significant assets of any type, you are a target for a lawsuit.  You need to know more about legally protecting your assets.  Enjoy greater privacy, limits on your personal liability, as well as tax benefits through the use of entities such as LLC’s, corporations and trusts.

In today’s litigious society, you need only one person unhappy with your business, one injured tenant, one disgruntled individual to ruin all that you have worked for by going to a plaintiff’s lawyer to see how they can get to everything you own.  If you are sued, you could lose your business, its equipment and vehicles, your personal automobiles, your home, your rental properties . . . anything that you own in your own name.

Sounds pretty scary, right?  Well it can be if you haven’t taken the time to educate yourself on how you can take necessary steps to protect yourself from predators, creditors, and the like.  What you can do to protect yourself and your assets isn’t terribly complicated, its just not common knowledge.  It’s privileged information generally reserved for the extremely wealthy and famous.  IF they take advantage of these strategies in order to protect themselves, it only makes good sense for you as an investor to explore and then implement them in your own life, doesn’t it?

Because of the current excitement, concern, and confusion surrounding the use of Trusts that has spread throughout the area like wildfire, Attorney Shaddix has agreed to go over the basics of Trusts.  He’ll be sharing with us what we need to know in order to best protect ourselves as real estate investors from our inherent “occupational hazards”.  Using Trusts in our business is important, and the proper use of Trusts can make all the difference in the world when comes to protecting your assets.

Join us as we get the inside knowledge about using Trusts properly as an incredible asset protection tool.  If you are planning to build any wealth at all for yourself and your family, or you already have, this is MUST KNOW information for you.

More about our Speaker, Doug Shadix

Doug grew up in the Atlanta area and graduated from Georgia State University.  With a degree in Political Science, he worked for a congressman while attending law school until the election of President Ronald Reagan.  Putting his law degree on hold, he moved to Washington, D.C. for eight years where he worked in International Trade at the Department of Commerce.  After serving in the Reagan Administration, and other political and public policy positions, he returned to Atlanta and to law school where he graduated Cum Laude.

He spent several years with the Atlanta-based law firm of King & Spalding, LLP in Atlanta, where he represented Fortune 500 companies and others such as the Atlanta Committee for the Olympic Games in a variety of matters in products liability and tort litigation and US Department of Justice reviews.

He left to practice law on his own in the area of asset protection, corporate formation and estate planning.  His firm, Wealth Preservation Solutions, LLC, specializes in setting up corporations, Limited Liability Companies, Family Limited Partnerships, as well as a variety of trusts such as Revocable Living Trusts, Land Trusts, Charitable Remainder Trusts, Personal Property Trusts, Special Needs Trusts, Asset Management Trusts, ILITs (Irrevocable Life Insurance Trusts), and other estate planning needs for his clients.

He is an active member of the community, having served on the Cobb Board of Elections, and currently Chairman of the county Board of Ethics.  He has held positions with the State Bar, with his alma mater, his political party and with his church. While maintaining his legal practice, he served in the Administration of Georgia Governor Nathan Deal.

Doug is happily married and is the proud father of 3 daughters.

]]> https://www.memberize.com/clubportal/EventDisplayNew.cfm?clubID=1311&EventID=256106&mo=3&tDate=%7Bd%20%272019%2D03%2D18%27%7D#new_tab/feed/ 0 Investing with Your 401K https://northmetroreia.com/5620/investing-with-your-401k/ https://northmetroreia.com/5620/investing-with-your-401k/#respond Wed, 30 Jan 2019 02:48:59 +0000 https://aa224e7557.nxcli.net/?p=5620 Come to North Metro’s REIA to hear  Kevin Purce with Advanta IRA explain how to invest in real estate (and other assets) using your IRA or 401(k) funds. During this event, attendees will have an opportunity to network with like-minded investors and also will learn how to invest in real estate without paying taxes and buy some properties for pennies on the dollar.

Kevin will cover the complete process from opening a self-directed IRA (and transferring funds tax-free) to purchasing real estate using the self-directed IRA account.

 

]]> https://northmetroreia.com/5620/investing-with-your-401k/feed/ 0 Tax Strategies for 2019 https://northmetroreia.com/5608/tax-strategies-for-2019/ https://northmetroreia.com/5608/tax-strategies-for-2019/#respond Fri, 21 Dec 2018 17:19:06 +0000 https://aa224e7557.nxcli.net/?p=5608 Want to minimize taxes and keep more of your hard-earned money? While protecting your assets from liability? That’s what CPA Ki Shin is all about.

The majority of Ki’s clients are real estate investors, so he knows the business. Ki is excited to share with you the knowledge he has accumulated over years of serving those clients.

You’ll learn:

  • What type of entity is best for your business. Limited liability company (LLC), S-corporation, C-corporation, land trust, statutory trust, self-directed IRA, or yourself personally. It depends on your real estate investing strategy, and the implications for your taxes and liabilities are enormous.
  • How to set up and operate the entity. Articles of incorporation, bylaws, bank account, operating agreement — you must run your business like a business. Jeff will dive deep to give you the details.
  • The tax differences when you’re a landlord vs. a rehabber. Basis in property… passive vs. non-passive… “real estate professional” defined… disposition of real estate… capital gain vs. ordinary… you must know this stuff!
  • Implications for the current year... cash vs. accrual… profit or loss… higher or lower revenue or expenses than last year… tax bracket changes.

If you want to keep more of what you earn, this class is a must!

]]> https://northmetroreia.com/5608/tax-strategies-for-2019/feed/ 0 WheelEstate – Making Money with Mobile Homes https://northmetroreia.com/5597/wheelestate-making-money-with-mobile-homes/ https://northmetroreia.com/5597/wheelestate-making-money-with-mobile-homes/#respond Sun, 25 Nov 2018 15:43:52 +0000 https://aa224e7557.nxcli.net/?p=5597

At this month’s North Metro REIA, Mike Tarpey and Joey English will provide how to make the numbers work and the benefits of investing in mobile homes.

We’ll look at the most important numbers you need to calculate, why you must begin with the end in mind, and what needs to be in your paperwork.

This event is free for members of North Metro REIA and open to the public.

Guests pay just $10.

]]> https://northmetroreia.com/5597/wheelestate-making-money-with-mobile-homes/feed/ 0 Making Impossible deals Possible with Bill Cook https://northmetroreia.com/5568/making-impossible-deals-possible-with-bill-cook/ https://northmetroreia.com/5568/making-impossible-deals-possible-with-bill-cook/#respond Wed, 24 Oct 2018 18:25:00 +0000 https://aa224e7557.nxcli.net/?p=5568 Bill Cook is coming to North Metro REIA on Thursday, November 1st , 2018.  He’ll be sharing his knowledge and experience with Creative Deal Structuring.

Check out an article about one of their experiences here:

How We Creatively Funded Our Latest Deal

How do seasoned real estate investors creatively fund their deals without going to a bank? To show you one way, let’s look at a deal that Kim and I recently got funded using a private-money lender.

This deal began when Kim and I were high bidders at the December 3, 2013 property tax auction in Cartersville, Georgia. We bought the tax deed on 50 Akin Drive for $2,800. The purchase money came from our checking account and was used to pay up the property’s back taxes for tax years 2010, 2011, 2012 and 2013. By the way, despite what the TV infomercial claims about buying tax deeds, as high bidders, we only owned the tax deed, not the property!

Over the next twelve months, either the property owners (who had abandoned the property) or their mortgage company had the right to buy back the property’s tax deed for our $2,800 purchase price, plus pay us a fee of 20% interest.

Because neither the property owner, nor their mortgage company, redeemed the tax deed during the one-year redemption window, we ran a notice in the legal section of the newspaper and foreclosed their right to redeem.

With that, we were the new owners of 50 Akin Drive. Lucky us, right? Not hardly. What we owned was a home that needed work…a LOT of work! Kim, who handles our rehabs, estimated that repairs would cost $30,000. There was only one small problem. We were exactly $30,000 light of having the $30,000 we needed to do this rehab.

I sent a letter to a number of the private-money lenders with whom we’ve worked.

Basically the letter said that we needed to borrow $30,000 to rehab an investment property. In return, we’d give a first-position note secured by the property.

Ralph and Jeanette asked to meet. They agreed to loan us the needed $30,000 if we agreed to the following terms: Ten years, at 4.97% compounding interest, with principal and interest payments of $400 per month.

Our exit strategy, once the rehab is completed, is to sell this home with owner financing. Once sold, we expect to receive monthly payments of $615 a month for thirty years. This will give us a monthly cash flow of $215 for the first ten years, then $615 for the next twenty years. Because this will be a sale and not a rental, there won’t be any landlording headaches.

If you’re wondering whether this is a good investment, let’s do the math: $215 x 12 months x 10 years = $25,800. Then $615 x 12 months x 20 years = $147,600. Finally $25,800 + $147,600 = $173,400. Is having $2,800 in a deal that will produce a $173,400 net profit a good deal in your book? (What if you had 10 of these deals in your retirement portfolio?)

Here’s an important question: Why did Jeanette and Ralph agree to loan Kim and me their hard-earned money? Because we’d pay them 4.97% interest, and their bank was only paying them 0.3% interest. When it comes to money, isn’t more better than less?

More importantly, and I learned this from Pete Fortunato, the foundation of any deal is SECURITY! In this case, Ralph and Jeanette had to feel secure that their loan would be paid back as promised, and if it wasn’t, they’d be able to easily foreclose on the loan’s collateral (50 Akin Drive) to recover their investment. In addition, the folks who buy the property must feel secure that their $615 per month is going toward a home that’s worth the money. Finally, Kim and I must feel secure that this will be a profitable deal that’s worth the effort and risk. Oh, and what happens if any of the three parties – the lenders, buyers or dealmakers – don’t feel secure? Simple: this deal never happens!

I’ve got to add, there’s security and then there’s S-E-C-U-R-I-T-Y. Jeanette smiled when she said, “Bill, I’ve only shot a gun one time…but I have a real talent with a baseball bat!” Batter up!

]]> https://northmetroreia.com/5568/making-impossible-deals-possible-with-bill-cook/feed/ 0 Lifeonaire with Jason https://northmetroreia.com/5542/lifeonaire-with-jason-wojo-2/ https://northmetroreia.com/5542/lifeonaire-with-jason-wojo-2/#respond Mon, 20 Aug 2018 22:24:03 +0000 https://aa224e7557.nxcli.net/?p=5542 Here’s a small sample of what you can expect to walk away with:

  • Discover what you really want for your life and a clear roadmap to achieve it so that you can start living it now
  • A full understanding of the 4 Stages of Financial Prosperity and why you need to follow this model or you risk making painful mistakes
  • How to eliminate negative thinking or conditioning that you’ve been exposed to and has been preventing you from living the life you want
  • How to balance the many separate roles and responsibilities you have in your life so that you can easily prioritize what’s most important and not get sucked up into distractions
  • Powerful secrets to making each piece of your life fit together so that you can experience the joy, fulfillment, and meaning you’ve been yearning for
  • How to be a strategist and not an opportunist (there’s a big difference)
  • And much more!

We Look Forward to Seeing You There!

]]> https://northmetroreia.com/5542/lifeonaire-with-jason-wojo-2/feed/ 0 Making Offers! https://northmetroreia.com/5525/5525/ https://northmetroreia.com/5525/5525/#respond Wed, 01 Aug 2018 14:37:23 +0000 https://aa224e7557.nxcli.net/?p=5525

 

At this month’s North Metro REIA, we are going to learn the who, what, when and how much of making written offers. We’ll look at the most important numbers you need to calculate, why you must begin with the end in mind (IE, what’s your exit strategy), and what needs to be in your paperwork.

During the meeting, Joey will walk you through real-world deals, how he came up with the offers, and how he got them accepted. He’ll also teach you how to confidently make creative offers to both realtors and private sellers alike so that you can them accepted too.

See video info here: https://youtu.be/_Kod8nU0jew

This event is free for members of North Metro REIA and open to the public.

Guests pay just $10.

 

 

See our monthly newsletter here:   North Metro Newsletter – August

]]> https://northmetroreia.com/5525/5525/feed/ 0 HOW TO SAVE 50% OR MORE ON YOUR NEXT REHAB BUDGET! https://northmetroreia.com/5518/how-to-save-50-or-more-on-your-next-rehab-budget-3/ https://northmetroreia.com/5518/how-to-save-50-or-more-on-your-next-rehab-budget-3/#respond Tue, 22 May 2018 20:17:26 +0000 https://aa224e7557.nxcli.net/?p=5518 National Rehab/Resell Expert Pete Youngs Presents: “How to Save 50% or More on Your Next Rehab Budget!”

Pete Youngs was born and raised in Atlanta Georgia.

After graduating from high school he started a painting and remodeling company that exploded with phenomenal success.

Later, he and his brothers got full time jobs working at Lockheed. Pete was on swing shift and was able to keep the construction company running.

Years later Pete’s brother Tony became a real estate investor and Pete started in the business doing renovations for Tony and eventually started investing also.

Pete’s company expanded into a general contracting company and was awarded major project contracts including:

√       Marriott Courtyard Hotels,

√       MCI telecommunications,

√       1996 Olympic Summer Games in Atlanta Village for athletes

√       Publix Supermarkets

√       And over 400 single family homes.

Pete is featured on hundreds of TV spots and Radio Shows and is a key note and headline speaker on real estate renovating for over 20 years.

Pete Young’s authored monthly columns in Real Estate Success Magazine and REIPS magazine and now he has his own monthly S.W.A.T. Report giving you details on brand new products, projects, and renovation tips.

Pete’s Rehab 101 Home Training System has won many awards for the highest quality renovations at the lowest possible prices as well as several for the top rated boot camp in the country and now his new flagship “SWAT Renovation Home Training System” joins his ToolBox for investors and his copyrighted works.

]]> https://northmetroreia.com/5518/how-to-save-50-or-more-on-your-next-rehab-budget-3/feed/ 0 BUILDING UP & OUT, REHABBING, NEW CONSTRUCTION & MORE. BRING YOUR QUESTIONS! https://northmetroreia.com/5489/building-up-out-rehabbing-new-construction-more-bring-your-questions-2/ https://northmetroreia.com/5489/building-up-out-rehabbing-new-construction-more-bring-your-questions-2/#respond Tue, 01 May 2018 07:55:54 +0000 https://aa224e7557.nxcli.net/?p=5489 Charlotte full-time investor and current Metrolina REIA President Chad Tate walks you through the process of buying, rehabbing, and selling a house, using a deal in progress for illustration!

A couple of years back, Chad Tate and his family sat in a crowded REIA Meeting, and decided that flipping houses was for them. With no prior real estate experience, they jumped in “feet first”. Chad Tate and his family have been buying, rehabbing, and retailing houses in the Charlotte market of today, and making a phenomenal success of it.

]]> https://northmetroreia.com/5489/building-up-out-rehabbing-new-construction-more-bring-your-questions-2/feed/ 0 Systematizing Your Rehabs to Scale Up https://northmetroreia.com/5464/systematizing-your-rehabs-to-scale-up/ https://northmetroreia.com/5464/systematizing-your-rehabs-to-scale-up/#respond Fri, 23 Feb 2018 20:40:52 +0000 https://aa224e7557.nxcli.net/?p=5464 She will help you set up your rehab systems from start to finish (step-by-step), she will give you the spreadsheets she uses so you can use them as templates.

If there is anything that she doesn;t have that you need, we can create it in the class for everyone to use.

What systems we will work on:

  • Setting up your Roles & Responsibilities
  • Managing Your Internal Office Online
  • Setting Up Folders Online
  • Using a Project Management Software
  • Utilies
  • Lenders
  • Scopes of Work
  • Spec Sheets
  • Home Inspection
  • Know Your Numbers
  • Contracts
  • Payments
  • Weekly Reviews
  • County Inspections
  • Punch
  • Maintenance

 

]]> https://northmetroreia.com/5464/systematizing-your-rehabs-to-scale-up/feed/ 0