Money for Deals @ Feb. 13, 2017 WREIA Meeting

One of the struggles that investors, especially new investors, face is their inability to fund a GOOD project.

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Let’s be clear on something.  If it’s a good deal – the money will be there IF you are looking in the right place.

That is a powerful statement that many people breeze past.

FIRST – FUNDAMENTALLY, it must be a good deal.  If your deal is too “thin”,  private money and hard money will run the other way – or even worse – will slow you down while they “review” the deal.

If you are trying to find money through friends and family, they might not know what a “good” deal actually is – and in most situations, working with friends and family – especially as lenders – can be a recipe for relationship disaster.

A short video about our next WREIA meeting in Bethesda where we will be talking about “Finding Money and Finding Deals” is posted here:

SECOND – The money will be there IF you are looking in the right place.

“Some people are crazy” is a blanket statement we all hear from time to time.  Well, let’s all be honest – that extends into business too.

It’s a fact of life that we all run into people who “rub us the wrong way”.  We think that one person may be terrific, while your good friend may have a different opinion of that same person.

A big reason we might  have a rewarding business relationship with one person and not another may be where we SOURCE that relationship.

At our monthly WREIA meetings we see a lot of people that become lasting friends based on their shared passion for real estate.  They may come from different ethnic, cultural, political or religious backgrounds, but because of their shared love of real estate, they have a deep common bond.

It’s a beautiful thing to see our WREIA members truly bonding – especially over shared success stories and even stories about their struggles.  Successful people WANT to help the person that is just getting started or facing an obstacle.  Our WREIA organization is full of successful investors.

When it comes to financing a property – if your source of funds comes from someone who is a great investor because they have a sizeable stock portfolio that could pose problems down the road.

Someone who has had success building a stock portfolio by trading stocks, but never held real estate, may not have the temperament for a six to 12 months renovation project.   You can’t liquidate a house by pushing a “sell” button.

Remember, this all hinges on that fact that a GOOD deal makes life much, much easier.  When you FIND a good deal, you can screw up in a lot of other parts of this business and still find success.

So – come on out to our WREIA meeting this month and join us as we discuss the process of finding a GOOD deal here in the DC area and marrying it to the RIGHT type of capital.

John Peterson
301-881-5541
Washington REIA Network, President
Profitable Property, Founder

 

The Perfect Antidote To Blue Monday @ WREIA Tonight

Re: Blue Monday & WREIA Tonight

Have you heard of Blue Monday?

bluemonday

According to Wikipedia : Blue Monday is a name given to a day in January (typically the third Monday of the month) reported to be the most depressing day of the year.

Some people call it “pseudoscience” and others say there is something to this Blue Monday calculation.

At the end of the day – how you face the day is up to YOU.

If you think today will be a good day, or a bad day – YOU’RE RIGHT!

There are plenty of things going on in the world today, if we try hard enough we can find something to get us upset, angry or even depressed.

On the other hand it’s also pretty easy to find something that will make you laugh. You can do a TON OF LITTLE THINGS that will put you in a great mood. You can reach out and help a friend or simply pass on a smile. It’s pretty easy to MAKE any day a great day.

It’s up to you.

BUT – It takes just a little action on your part.

If you want to have some fun and laugh with some friends – you will experience that at WREIA tonight at our 2017 Kickoff meeting.

We are going to have some fun with a great group of people tonight at our first meeting of 2017. Sometimes in our business we have to ease up and not take ourselves so seriously.

Get 2017 started off on the right foot. Add our WREIA meeting to your “To Do” list for today. You will be happy you decided to join us tonight.

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Interested in a seat for Monday night or a WREIA Membership?

Save a few dollars and reserve your seat early.

Tremendous Savings and Additional
“Members Only” Perks for WREIA Members

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Join us tonight and expand your belief that other people are out with me right here in the DC area making money in Real Estate.

Focus and make 2017 a great year for your business!

Let me know how I can help you,

John Peterson
301-881-5541
Washington REIA Network, President
Profitable Property, Founder

P.S. Interested in a lender or construction partner for your pending project? Yes, we do that. We lend to, and partner with, people all over the DC area. Call the office and set up a time so we can talk through or walk through your project.

Yes, You Can Exhume Pets In A Home Pet Cemetery

Re: Pet Cemeteries

Of all the renovation shows, few get the negative feedback that “Flipping Vegas” receives.

When I bring up the show to a few friends I heard these descriptive replies:

“I *&$#ing hate that show.”

“Garbage TV.”

“Unbearable.”

“It’s everything wrong with America today.”

Calm down a minute already. It’s not that bad.

When it comes to that “special type of acting required” for reality TV that we mentioned in our post about the Flip or Flop couple – well, this cast takes it to a whole new level.

“Overacting” might be a better way to describe the show.

Everything is a major catastrophe.

I did a quick search to find what the broader internet audience thinks of “Flipping Vegas” – I will spare you the bitterness. Let’s just say the feedback amongst my flipping friends was not far off the internet consensus.

Here is a clip from the Cat House episode where Scott Yancey talks about “hemorrhaging” money. (As he does on every episode.)

You get a taste of his special type of acting skills.

However – if you watch the episode you will also find a take-a-way from the episode. My discovery was that it is possible to respectfully deal with a previous owners love of their pets.

Specifically, dealing with a home-made pet cemetery.

I am a pet lover. I grew up with pets. I have owned pets. I think they are valuable and can help teach our kids responsibility and compassion.

That said – the previous owner of the “Cat House” obviously took things too far.

That house was really in bad shape. When you have to remove up to 4 feet of drywall from the pet “debris” – things have gotten out of control.

For a few hundred dollars they had a local “licensed” professional deal with the remains of the few cats buried and memorialized in the back yard.

Now, after a thousand renovations, I have seen pet memorials on properties.  Numerous times.  We usually just ask the previous owners if they have a desire for the memorial if we thought there might be any value. Otherwise, we have been reluctant to due much of anything.

Now I know it is actually possible to exhume the remains and have them properly cremated. Which perhaps is safer for the environment and respectful as well.

Maybe this was a little gory topic for the weekend? Maybe. But now you are equipped with something to talk about that doesn’t involve the weather.

weather

or the playoffs…..
playoffs
or Tarek and Christinas’ divorce.
flipflop
Here is to a great weekend. I hope to see you Monday evening at WREIA.

*********

Interested in a seat for Monday night or a WREIA Membership?

Save a few dollars and reserve your seat early.

Tremendous Savings and Additional
“Members Only” Perks for WREIA Members

*********

Join us on Jan. 16th and expand your belief that other people are out with me right here in the DC area making money in Real Estate.

Focus and make 2017 a great year for your business!

Let me know how I can help you,

John Peterson
301-881-5541
Washington REIA Network, President
Profitable Property, Founder

P.S. Interested in a lender or construction partner for your pending project? Yes, we do that. We lend to, and partner with, people all over the DC area. Call the office and set up a time so we can talk through or walk through your project.

HGTV “Flip or Flop” Star Files for Divorce

flip-or-flop-coverRe: HGTV Reality TV

These story lines are hard to keep up with – they move so fast.

This morning it was announced on People.com that the star of Flip or Flop has filed for divorce.

A few days ago, we all read “The couple has no imminent plans for divorce.”

Isn’t life like that sometimes?  Changes from one moment to the next?

But for the reality tv couple, Tarek and Christina El Moussa, their many obstacles over the last few years has finally taken a toll on their marriage.

A friend of mine is always reminding me “You never know what is going on behind the closed doors of your friends and neighbors.”

By all accounts, it would appear that the stars of one of HGTV’s top shows were leading a happy successful life.  As we have learned, it’s not quite the case.

We see it all the time when dealing with distressed real estate.  Sometimes the distress is very evident with the condition of the home.  On other occasions the distress is more wrapped up in a personal situation that isn’t evident from the curb.

I have always been skeptical about these “reality” tv flipping shows. However, a few lines in the recent issue of People stood out to me:

“While Christina would be on board for plotlines that producers came up with like freaking out over the wrong tile being delivered or finding a dead rodent in the corner, Tarek was always more reluctant,” says the source.
Tarek would also “balk at the special brand of “acting” required of a reality star.”
People Dec. 26 Issue, page 58 for those who still have it laying around, or might find the issue it at the doctors office.

Plotlines?

Special brand of acting?

A few people are still surprised to find out that these shows are in fact staged productions.

It’s entertainment.

People watch a lot of this type of Reality TV to escape their own reality.

Sure, some people watch it for the “educational” value that you might find.

Personally, I did not find a lot of educational value in “Nicole and Jionni’s Shore Flip”.

Nicole-and-Jionnis-Shore-Flip

I only caught a short few minutes over the last few weeks.  That was all I needed. Obviously, the focus was on the entertainment factor – not the flipping factor.

I watched a few different shows over the winter break while I was prepping for WREIA this Monday night.  When I hit this Shore Flip show, I had to draw the line.  Luckily, a few minutes into the show I got a call about one of my own properties and it was time to get back to my own “reality.”

I was just told yesterday the young couple made a profit on their Shore Flip property – so good for them. Tarek and Christina seem to make outrageous profits on all their flips – if you believe the last few moments of each episode.
Let’s wrap this up – I believe its a sad statement on our society when magazines and other media make a small fortune promoting and nearly celebrating the end of a marriage.

Divorce is never easy and I think we should be aware that Tarek and Christina are likely going through a really rough spot in their lives.  As much as possible, we should respect that and certainly not celebrate their struggles.

That said – All the time we spend watching some of these flip shows doesn’t need to be entirely futile.

At WREIA next Monday evening I want to share a few things I noticed about these shows, and point out some key points that will actually help you in your business.

Monday at WREIA will be an entertaining way to start off the new year.

Let’s get this 2017 Renovation Party started!

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Join us on Jan. 16th and expand your belief that other people are out with me right here in the DC area making money in Real Estate.
Focus and make 2017 a great year for your business!
Let me know how I can help you,
John Peterson
301-881-5541
Washington REIA Network, President
Profitable Property, Founder

P.S.  Interested in a lender or construction partner for your pending project?  Yes, we do that.  We lend to and partner with people all over the DC area.  Call the office and lets set up a time to talk through or walk through your project.

Is Reality TV Real?

hgtv
Re: HGTV Reality TV

First up – Happy New Year!

Did you take a few days or weeks to unwind a bit?  Are you ready to tackle the new year?

Personally, I could use a few more days of unwinding – but the calendar (and the bank account) says it’s time to get back to work.

Thank you to all the WREIA members who joined us for the “Members Only” event in December.  We had a good time together, and I really enjoyed the feedback.

Now – it’s time for all of us to start executing the 2017 game plan.

Top of the TO-DO LIST – Plan to join us on Jan. 16th for the WREIA 2017 Kickoff meeting.  We are going to have a little fun bouncing ideas based off the top HGTV shows.

Like some of you, I spent a “little” time over the break binge watching some of my favorite renovation shows.

Some of these shows just made me laugh with their drama and lack of details.  But a few actually had some key points I want to share with you.

More on that over the next few days.

For now, dust off that winter coat and break out the winter boots.   We have a few weeks of cold ahead of us – but it’s no reason to curb your enthusiasm for the year ahead.

What do you say we get together on the 16th and start executing the 2017 plan together?

I am convinced we have the best group of WREIA members in the DC area.

Let’s get this 2017 Renovation Party started!

*********
*********
Join us on Jan. 16th and expand your belief that other people are out with me right here in the DC area making money in Real Estate.
Focus and make 2017 a great year for your business!
Let me know how I can help you,
John Peterson
301-881-5541
Washington REIA Network, President
Profitable Property, Founder

P.S.  Interested in a lender or construction partner for your pending project?  Yes, we do that.  We lend to and partner with people all over the DC area.  Call the office and lets set up a time to talk through or walk through your project.