Washington Real Estate Investors Association Network

Author: John Peterson

  • When (and Who) Do You Ask Questions? ….. it matters.

    When it comes to business, “When Do You Ask Questions?”
    Do you ask questions when the task is pretty hard and you need help, or when the work is fairly easy, you already know the answer and you just want to impress your friend or mentor?

    Successful Real Estate Marketing

     Updates for 2014 and Beyond
    WREIA Sept. 15th.

    I just finished reading an article about a few faculty members at Harvard Business School who completed a study on people who ask questions.

    Let me sum up this 31 page by simply saying:

    “People who ask more questions appear more competent – in some instances.”

    What was interesting about the report was this:  WHO you asked questions to was just as important as WHEN you asked questions. If the task is hard and complicated and you ask an expert, you actually appear more credible to the people you work with, AND the person you asked the question to begin with.  Interesting isn’t it?

    However, the opposite is also true – If the task is pretty simple, and you ask a non-expert for advice – well, it actually works against you.  People begin to think that you don’t have the skills necessary to complete the task and you lose credibility.  Paraphrased – You will appear incompetent and people will actually form a bad impression of you.

    Now, that doesn’t mean you need to spend all your time caring about what other people think about you. Ask questions if you are having trouble.  But what it does mean is that you need to spend your time talking with the right people, and asking the right questions.

    Which brings me to two of the main points we are going to be talking about next Monday night at WREIA.

    CREATIVITY and RELATIONSHIPS.

    If you don’t put this combination together in the right way – you are going to be lost and alone in the business world for the next 25 years.

    You have to agree – Lost and alone is not where you want to be.

    Some of you are taking free advice about the world of real estate investing from “investors” who position themselves as “experts” because they flipped two little condos in a rising market.  Trust me, experience matters and to rise to the expert level takes years of practice and in my opinion you need to survive at least one economic downturn before you can rise to the level of “expert.”

    Professional investors are entrepreneurs – and they follow a similar career path as professional doctors.  When doctors are getting started, they go through a training period by getting advice and learning from mentors.  Doctors learn on the job by “interning” for a few years, then many go off on their own and open their own office. They work in big cities and small towns.

    How many of you would consider having open heart surgery from a “doctor” who just started in 2013 and had performed two surgeries so far?  Not me……  I want the doctor who is two decades into his career and has performed hundreds, if not, thousands of the same procedures.

    Just as dangerous is the doctor who sits alone in his office and never improves.  We have all seen or heard about that type of doctor haven’t we?  The 83 year old doctor who can’t let go of his career, and starts making dangerous mistakes, perhaps makes a bad diagnosis and causes further unnecessary harm to his patient.

    Wherever you are in your career, the questions you ask matter.  And those questions need to be asked to the right people.  It matters to other people when they are forming their impression of you, and for that reason it should matter to you.

    If you are still spending time online in “beginner” areas of our industry like “Bigger Pockets” or other forums where “newbies” hang out, are you still growing?

    Next Monday at WREIA we will have content for beginners, certainly.  But it will packed with higher level information for the more advanced real estate entrepreneurs too.  Especially if you are struggling finding new projects – you will want to be with us on Monday night.

    Stay tuned… the next email is going to be a question I asked about my business, and the answer was – Pinterest.

    *******
    Remember…We will have WREIA this month on this Monday, Sept. 15th
    Same Place, Same Time.
    You can meet us all at the same place at the Womans Club of Bethesda, and we will start at the same time, opening the doors at 6:30 for light refreshments and networking.
    *******


    “Successful Real Estate Marketing”
     Reserve Your Seat Here For The WREIA September Event

    Join us at WREIA Monday night September 15th, and let me know if there is anything I can do to help you and your business.

    John Peterson

    301-881-5541
    Washington REIA Network, President
    Profitable Property, FounderP.S.  The answer is YES, in 2014 we are definitely doing partner deals with our students and WREIA members.  Maybe you need some help with financing or could use a valuable construction partner with years of experience. Or do you need us to help speed up the process for you, and help drive your business to the next level?   We are here to help.  Just send us a few quick details at http://dchardmoneylender.com/quick-property-submit/  and we will get back to you ASAP.P.P.S.  If you want some further details on the Harvard study you can find it posted here.

  • Rental Income w/ A Self Directed ROTH IRA

    whichwayWhen I first started my Self Directed IRA the IRS said the most I could contribute to my IRA was just $2,000.   So I got started with $2,000 – and I am glad I did.

    As my account grew, it didn’t take long for someone to point out the benefits of the ROTH IRA. The Roth IRA is different from a regular IRA in that when I decide to make withdrawals, the proceeds will be TAX FREE!

    And that is a HUGE benefit, especially as tax rates have started to climb.I love the ability we have to invest in rental properties inside what’s known as a Roth IRA.

    Mixing real estate with the benefits of the Roth IRA works something like this:

    Buy a small townhome or condo in the name of your IRA.  Let’s say that cost you 100k.

    Every month that home will have rental income.  Let’s say that is 1,000 every month.

    That $1,000 of monthly income will go back into your Self Directed Roth IRA.   And that happens every month  until you sell the home.

    So, let’s say that happens every year for 10 years.  Your total income will have been $120k. Of course you probably had to replace or repair something along the way, but you get the idea.

    Now, watch what happens…..  What if you also made additional contributions to your Roth IRA every year too?  The IRS says that in 2013 and 2014 the maximum amount you can contribute to a Roth is $5,500.  You can find it posted here – http://www.irs.gov/Retirement-Plans/Plan-Participant,-Employee/Retirement-Topics-IRA-Contribution-Limits

    If you kept all of your income, and then used your additional contributions, you could buy another 100k home in about 6 years.  Then you would have over $24k coming in every year.  10 years from now, you could easily own three homes – all inside your Roth IRA – giving you about $3,000 in monthly income.  If you decide to retire, I would imagine an extra $3,000 each month would help, wouldn’t it?

    The best part is that if you retired and started to take some distributions from your Roth IRA – unlike a traditional IRA – the proceeds are TAX FREE!  That is a huge benefit, especially when you are retired.  Imagine starting the year knowing that you will have $36k coming in – tax free?  It’s not going to let you live the lifestyles of the rich and famous, but you won’t be destitute either.

    But here is the best part…. you still have 3 homes inside your Roth IRA, with a value of $300k, or more, that you can tap into as needed.  Maybe you won’t want to hassle with 3 rental homes as a retiree.  At 36k per year, selling all three homes will give you a little more than 8 years of living expenses.   That’s not bad, is it?

    This is exciting stuff, especially if you plan on having an active retirement,  You will likely need as much as possible stored away to keep up with the rising cost of living.  I know that my savings accounts aren’t going to give me the returns that my rental properties will – that’s for certain.

    If you enjoy learning how you can protect and grow your net worth, you are going to love some more of these stories on Monday night.

    Let’s talk about “Secrets of Self Directed IRA’s” this month at WREIA.  Come on out Monday night and join us at WREIA.

    *******
    Remember…We will have WREIA this month on this Monday, July 21st.

    Same Place, Same Time.
    You can meet us all at the same place at the Womans Club of Bethesda, and we will start at the same time, opening the doors at 6:30 for light refreshments and networking.
    *******


    “Secrets of Self Directed IRA’s”
     Register Here For The WREIA July Event

    Join us at WREIA Monday night July 21st, and let me know if there is anything I can do to help you and your business.

    John Peterson

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

  • Secrets of Self Directed IRA’s – July 21st Meeting – Jack Kiley

    Next WREIA Meeting
    Mon. July 21st –  Doors Open @ 6:30PM

    Topic: Self Directed IRA’s w/ Jack Kiley
    Updates: What You Need To Know In 2014

    Warren Buffet said he would buy up “a couple hundred thousand” single family homes if it were practical to do so.

    Mr. Buffet made these comments back in 2012 – and I’m sure he still believes it.  “If held for a long period of time and purchased at low rates, Buffett says houses are even better than stocks. He advises buyers to take out a 30-year mortgage and refinance if rates go down.” You can still find the article posted at  http://www.cnbc.com/id/46538421

    Now, for most of us who do not run a large hedge fund, buying thousands of houses is out of the question.  However, owning a home or two tucked away inside a retirement account is not out of the question.

    For starters, you should know that doing almost anything with real estate is just as easy inside a retirement account as it is outside of an IRA.

    My friend Jack Kiley is going to give a short presentation on Monday night at WREIA.  He will be there to answer questions, and point out the situations where investors can use their retirement accounts alongside there traditional business.

    Jack owns the company “Mid Atlantic IRA” which is the custodian of my Self Directed IRA.  Years ago, I did my research to find the best company in our area that could support my needs.  Even today, if you ask around, his name will keep coming back as the go-to guy in the DC area for Self Directed IRA’s.

    I am incredibly grateful that his office is just up the road in Frederick, and when I have been in a jam he and his staff have been able to help on many occasions. As my business has grown, I have had to go to Jack with a few small business questions.  In every case, his answers have helped my business and my accounts grow.

    And let me tell you how these accounts can grow – QUICKLY.

    For example – Did you know you can use your Self Directed IRA to fund a wholesale deal?  One of our students used their IRA account to fund a deal with only $1,000.  They quickly wholesaled the deal to a rehabber for a 20k fee.   That 20k went directly into their IRA.

    How many times in your career would you like your investment to grow 20X in just a matter of weeks?

    You can see how fast you can grow your account large enough to buy a small townhouse, or maybe a small home out of our area.  Florida perhaps?  Yup, we have some WREIA members who have done that too.  Slow drips of monthly rental income….  Who doesn’t want that in your retirement years?  How many rental homes do you need to keep up your lifestyle when you retire? My answer is – not as many as Warren Buffet!

    If you enjoy hearing how you can protect and grow your net worth, you are going to love some of these stories on Monday night.

    Let’s talk about “Secrets of Self Directed IRA’s” this month at WREIA.  Come on out Monday night and join us at WREIA.

    *******

    Remember…

    We will have WREIA this month on this Monday, July 21st.

    Same Place, Same Time.

    You can meet us all at the same place at the Womans Club of Bethesda, and we will start at the same time, opening the doors at 6:30 for light refreshments and networking.

    *******


    “Secrets of Self Directed IRA’s”

     Register Here For The WREIA July Event

    Join us at WREIA Monday night July 21st, and let me know if there is anything I can do to help you and your business.

    John Peterson

    301-881-5541
    Washington REIA Network, President

    Profitable Property, Founder

    P.S.  The answer is YES, in 2014 we are still doing partner deals with our students and WREIA members.  You may need some help with financing or need a valuable construction partner with years of experience. Or do you need us to help speed up the process for you, and help drive your business to the next level?   We are here to help.  Just send us a few quick details at http://dchardmoneylender.com/quick-property-submit/  and we will get back to you ASAP.

     

  • “Renovations” @ Washington REIA Network – June 16, 2014

    hammer

    John filmed a short video invitation to the upcoming WREIA meeting on June 16th in Bethesda.

    You can reserve your seat at http://bit.ly/June2014WREIA

    Come on out and join us on Monday evening!

  • Renovations – Our Next Topic At WREIA – June 2014

    For the past two months we have talked about Wholesaling real estate.  Now, we need to take the next step.

    This month, let’s talk about Renovations.

    You can find more info and reserve your seat at http://bit.ly/June2014WREIA

  • Full Moon Traffic and Tolls – Washington REIA May Meeting – Wholesaling Real Estate – Part 2 – May 19th

    Traffic in the DC area yesterday was horrible.  Luckily, we spent most of the day in the office filming and spending time with a live class that we are running via webinars.

    Just as we were wrapping up, one of the guys in the office said “Man, it has to be a full moon out.  Traffic was crazy everywhere this morning.”

    Sure enough, I looked on my calendar last night – it was a full moon yesterday.  Was it me, or did you notice people being a little more “on edge” yesterday?

    Regardless, it did lead to an interesting point.

    The same person then said “What amazes me is how many people just sat there in traffic.  I paid $3 to get across the whole county and saved 30 minutes, or more.  No traffic at all.”

    You see, near my office they recently completed a toll road that goes nearly the whole way across the county, and it costs a little over $3 if you drive from one end to the other.

    People are stubborn, and willing to spend hours more of their time – in order to save a couple bucks and not pay a toll.

    The same thing happens in our business.  People try to “save” a few dollars and do everything online – “for free”.  In the end, it causes frustration, loss of time and a tremendous loss of energy.

    We have one of the longest running investor groups in the country – 13 years and counting.  Many groups in our area and beyond have come and gone, stopped and started, or renamed themselves through the years, trying to put a fresh face on their groups.  Which is fine, right?

    However……

    Most of those groups have tried to do the same thing – month after month.  They invite a national speaker to speak in front of their group who of course has something to sell and is “guaranteed” to make you more money.  You buy the speakers stuff – and away he or she goes, back to the city where they come from, and very seldom will you hear from him or her again.

    You are on your own.

    Alone.

    Trying to figure it out.

    You get frustrated and think to yourself – “this doesn’t work”.  “Not here in my area.”

    And next month, here comes another trained salesperson to sell you something again.  But this time, you don’t buy it.

    Why?

    Because you learned your lesson last month – right?

    At WREIA we deliberately changed a few years ago.  And our members have noticed.

    Listen, we have a strong group of ACTIVE Washington area investors.  People who are doing things, and getting stuff done. And, we know when to slow down so our group doesn’t miss important details.

    Last month, we ran short on time and decided to slow down and expand the topic, Wholesaling Houses, to this month.

    While we had the cameras out, we filmed a short video inviting you back to WREIA this month for Part 2 of Wholesaling.

    Many of our members that were with us last month signed up for a class we are teaching, mostly online.  By the way, it was the first time we have offered a class in a long, long time.  Nearly all of our meetings we just deliver great content – with nothing to purchase at the end of the meeting.  We focus and the only thing we talk about is what is working in our area – right now.

    I was just talking about our members being “doers”.  Well, as a result of that class, some of the members have raised just shy of $1 Million dollars for their deals, and found dozens of potential properties.   That happened for them just since our last meeting on April 28th.  With just a little bit of instruction and follow through, massive changes can happen for you in our business too.

    If you are tired of getting “pitched” day after day, and month after month – come on out and visit with the members at WREIA.  It’s a good time, with good people, and we also give you a little bit to eat (as long as you get there early).

    We open the doors at 6:30 and usually start around 7:15 or so.  Depends on traffic, topic and if we are having some small group discussions that month.  You don’t want to be late, because we have started every meeting for 13 years with our Wholesale deals.  It gives you a chance to either offer your deals, or listen for other deals that you might have an interest in.

    In 13 years, we have never missed a meeting where one of our members didn’t have at least one property to present to our group.   13 years and every month there has been at least one opportunity for our members to make some money. There have literally been hundreds of chances for you to hear about a property and act on it.

    Oh, and the price to attend WREIA is only $25 at the door, or $20 if you reserve your spot online. You can save a few dollars more if you want to purchase a 6 month, or year membership.

    Are you one of those people who likes to stubbornly sit in traffic just to save a couple dollars, then have to call ahead and apologize for being stuck in traffic, and then show up late for your meeting?  Or would you rather spend a couple bucks and get where you are going on time, or even early and stay fresh, ready and on point?

    Back to our business.  You can find a ton of information online – for free.  However, most of it is horribly dated material.

    Some of what you find online is good, and there is a little advice, very little, that is something you can act on and actually turn a profit in your business.

    Start asking yourself – “What’s in this for me?” and “Am I just trying to be sold something?”

    If you start getting that feeling that you are just being sold something – walk away.

    We have new people at WREIA all the time.  I see how they walk in the door, with their guard up, waiting to push away this months speaker/salesperson from Ohio, New York, or Utah.  I get it.

    That same person usually comes up to me at the end of the meeting and says “That was some great information, and it was nice to not have to buy something.  You just delivered good content.  Thanks.”

    I usually see them again the next month. As time goes on, they either slip away because they realize this isn’t as easy as the late night infomercials make it out to be.  Or – they keep coming out and become a member of our community – and they start having and sharing their success.

    And that Ladies and Gentlemen is why I founded and still love leading WREIA every month.  Helping other people gather information, take action and have success is one of the things I feel called to do, and it gives me a great deal of pleasure to see other people do the same.

    We will have our May 2014 WREIA meeting this Monday, May 19th.

    “Wholesale Real Estate”
    Part 2

    Join us at WREIA Monday night May 19th, and let me know if there is anything I can do to help you and your business.

    John Peterson

     

    301-881-5541
    Washington REIA Network, President

    Profitable Property, Founder

  • Wholesaling Real Estate – Part 2

    couple

    Remember this couple from our article last month?  The two people sitting on their front porch, with boxes packed, and obviously getting ready to move?

    Imgagine it’s now a month later and they moved.  New owners are all ready to renovate the house and move in themselves.

    But, did you know that the new owners never even met the old owners?  The new owners discovered the property through a “wholesaler”.  The wholesaler put the property under contract and then took that contract to the prospective buyer to see if they were interested.  They were excited.

    The new owners paid cash for their house, and plan to refinance after they renovate the property.

    This type of transaction takes place all the time.  People just don’t know about them.

    As renovators, we buy property that is “off market” all the time. It’s totally legal.  We pay the county transfer taxes, file a deed, get insurance and all the other stuff that takes place in a “normal” realtor assisted transaction.

    In fact, about 9 out of 10 people use a Realtor when they buy a home.  But that leaves 10% that don’t use a Realtor.  When you think about it, that is a lot of transactions that do not go through the agency system.

    It’s a huge market and one most people don’t know much about.  Lucky for you, we are continuing to talk about the wholesale process at WREIA this month.  Last month, we just had too much to cover, and halfway through I decided that we would be extending the topic over into our May meeting.  Nearly everyone at WREIA last month agreed, “Let’s slow down and go into more detail.”

    I have been buying homes at wholesale rates for nearly two decades.  I have a lot of experience both buying the homes directly, as well as working with other wholesalers who have originated the deals themselves.  In fact, I do a lot of deal with other wholesalers in the DC area.  They bring the deals, I bring the transactional experience along with some capital,  and we mix up our contractors.  We complete the project, and finally we both are happy when a retail sale is made.

    I get excited talking about wholesale real estate.  And that is exactly what we are going to continue talking about next Monday night at our next Washington REIA meeting.

    We are going to be talking about finding wholesalers, working with them, and maybe even becoming a wholesaler yourself.

    We will have our May 2014 WREIA meeting this Monday, May 19th.

    Monday night is just good old fashioned learning about this business, with some terrific opportunities to network with other people working real estate right here in the DC area.

    Come join us Monday night.  You will be glad you did.

    And remember to bring your wholesale real estate deals.  Last month we had a few local deals get started  AT OUR MEETING.  Don’t be surprised if you learn about an off-market wholesale deal from another one of our members this month too.

    *******
    Remember…We will have WREIA this month on this Monday, May 19th.
    Same Place, Same Time.
    You can meet us all at the same place at the Womans Club of Bethesda, and we will start at the same time, opening the doors at 6:30 for light refreshments and networking.
    *******


    “Wholesale Real Estate”
    Part 2
     Register Here For The WREIA May Event

    Join us at WREIA Monday night May 19th, and let me know if there is anything I can do to help you and your business.

    John Peterson

     301-881-5541

    Washington REIA Network, President

    Profitable Property, Founder

  • Wholesale House (Before Photo)

    wholesalehouse-bright

    That photo above is not a giant bush.  That is a wholesale house and a big opportunity to help someone.

    Your everyday average retail buyer is NEVER going to stop by and want to go inside this house.  NEVER.

    But – I love these houses.  There is a truckload of opportunity in projects like this.

    1. You have the opportunity to help the people who own the home, because obviously they need some help caring for this house.
    2. You have the opportunity to help the neighborhood. Can you imagine living next to this house?
    3. Finally, you help the next owners find a safe home for their family.  After you spend a great deal of money, time and effort to fix it up, of course.

    Once you start working on the wholesale side of this business, you realize how much OPPORTUNITY there is everywhere.  And I do mean everywhere.

    In every city and town, there are people who have met some of life’s challenges and are now at their wits end.  Something has happened that is making them shut down – either physically, mentally and sometimes socially as well.

    Our job is to find these people and help them get to the next chapter of their life – if they are ready.  THAT IS A KEY POINT.  Not everyone is ready to take the necessary steps today, or tomorrow.

    You just want to be there when they are ready.  If you are running your business ethically, it is very easy to make offers on houses, and explain why your offer is priced the way it is. When they are ready, they will trust you.  Especially if you have taken the time to get to know them.  Never underestimate the power of trust. It’s something that is a rare commodity these days.

    If the offer is too low, or doesn’t fit the sellers needs for any number of reasons, that is fine. Maybe you can help them in another way.  One of the reasons I think I have met with some success in this business is because I continue to look for ways to help people, even if I can’t just “buy their house”.

    Wholesaling houses is easy, even in 2014.

    At our WREIA meeting on Monday night I am going to share my 3 simple steps to wholesaling:

    • How to identify good opportunities and analyze the deal in just minutes.
    • Control the property with key phrases. (Do this part wrong and you could be breaking the law.)
    • Wholesale for fast cash.
    It really is that simple.  People are getting carried away and over-complicating the entire process.

    After a couple of decades watching people get started, I believe that if your system is too cumbersome, you will always find a reason not to do it.  When it’s too complicated, I know people get nervous about doing something wrong.

    People are making this wholesaling thing waaaaay too complicated.  I hear silly excuses all the time –  “I don’t have my 37 step auto-responder set up.” or “I don’t know how to find the right people” or “What do I say if they do call me?”.

    And the best one I hear –  “My mentor told me to …xyz…”  Oy vay!  What most of you don’t realize is that some of those “mentors” have usually only done a deal or two, maybe three-  and now they are “training” people!  (Make sure you are working with a long-time-in-this-business trainer. The guy/girl with only a year or two under his/her belt won’t know what hit him/her when the cycle changes.)

    Listen – I have one wholesaler who gives me a lot of deals.  He is working without a website. He doesn’t even have a business card when he goes on an appointment.  I know he is going to make over $100k this year. That is not uncommon today for wholesalers.

    Come on out on Monday night and meet him. You are going to like what he has to say.

    In fact, there are a few experienced people that regularly attend our WREIA meetings and they are happy to help you and answer questions. In fact, they lead some of the breakout small groups we have at our meetings.

    Ok…. my Friday afternoon rant is over.  whew….

    How about this – Please do two things for me. 

    Scroll back up and take a look at that house at the beginning of the page.  How many of those do you think there are in the DC area?  Quite a few, right? Especially if you know where to look.

    BUT – What a lot of you need to understand is that there are a lot of homes that look that bad on the INSIDE. Either the house itself is a mess on the inside, or their is a very messy situation and the owners could use your help.

    The second thing for you to do – Make sure you come out and join us on Monday night at WREIA.  If you have a lot of experience, you can share some of that experience with someone who might be new to our group.  If you are just getting started, or in your first couple of years, this will be a great meeting for you to attend.

    Thanks and have a great weekend!

    *******

    Remember…

    We will have WREIA this month on  Monday, April 28th.

    Same Place, Same Time.

    You can meet us all at the same place at the Womans Club of Bethesda, and we will start at the same time, opening the doors at 6:30 for light refreshments and networking.

    *******


    “Wholesaling Real Estate”

     WREIA April 28th – Reserve your seat Here

    Join us at WREIA Monday night April 28th, and let me know if there is anything I can do to help you and your business.

    John Peterson

     301-881-5541

    Washington REIA Network, President

    Profitable Property, Founder

    P.S.  The answer is YES, in 2014 we are still doing partner deals with our students and WREIA members.  You may need some help with financing or need a valuable construction partner with years of experience. Or do you need us to help speed up the process for you, and help drive your business to the next level?   We are here to help.  Just send us a few quick details at http://dchardmoneylender.com/quick-property-submit/  and we will get back to you ASAP.

  • WREIA April Meeting Invitation – Wholesale Real Estate

    Our Next Meeting is just a few days away.
    Come Join Us Next Monday At The April WREIA Meeting.
    We were out looking at a few homes yesterday, and decided to shoot a quick video and give you some details about the meeting on Monday night at WREIA.  It took a few minutes, but we found a safe spot out of the wind.

     

    This month’s topic will be “Wholesale Real Estate”.

    If you believe in gathering information and learning from those who have “been there and done that” this is a great opportunity for you.

    Head over to this WREIA March Event link and register now!

    See you next Monday evening!

    P.S. Don’t forget to bring your WHOLESALE real estate deals to share with our members.   Doors open for registration at 6:30.   Light refreshments will be served.

  • How I Buy Wholesale Real Estate – Example

    Next WREIA Meeting Schedule Update

    Mon. April 28th –  Doors Open @ 6:30PM

    Topic: How To Wholesale Real Estate.
    What You Need To Know In 2014

    coupleDo you see this happy couple above?

    Let’s imagine they are sitting in a great neighborhood, in front of a nice home with tastefully decorated kitchens, baths and bedrooms.

    There are boxes on the front porch…… and I’m sure you notice the “For sale by owner” sign in the front yard.

    Will they take a discount on their home?  Do you think I could by the home from them at a low enough price that I could put a renter in it, or even sell it in a few months and make a profit?

    Possibly.  You decide to stop to talk with them.

    You just never know.  They could be sitting in front of their parents home, and they are just in town for the weekend.  Perhaps their last surviving parent just moved into a nursing home over the weekend.  Maybe their parent gave them strict instructions “Sell the house this weekend before you go back home.”  I’ve had that conversation before with some kids that were in town for just a weekend.  In their case, they had to sell their parents house before they took their parent back with them to their home state in Minnesota.

    You just never know what the situation is.  Someone may be moving due to health reasons, or they may be moving because of a new job.

    When people want to sell quickly, it is great to be involved in the conversation.  Sometimes you can help solve what in their mind is a huge problem.

    People sell all types of things at a discount.  People sell boats, cars, planes, entire businesses and other high ticket items at a deep discount, just because they don’t want to deal with it any more.  Real estate is no different.

    And that is where a real estate “wholesaler” steps in.  Their job is to find people who want to sell a house quickly, or with no hassles.  They just need to step in and make an offer.  When the deal they negotiate is attractive enough, other investors or rehabbers will step in and sometimes pay a premium for that contract.

    People who are just getting started in the business of investment real estate usually discover wholesaling somewhere early in their career.  Not long after, they start making offers, and sometimes partner up with deep pocketed friends or family members.

    Of course today, it seems everyone in the DC area is making an “all-cash” offer.   So what can you do to make yourself different?

    Plenty…….

    I have been buying homes at wholesale rates for nearly two decades.  I have a lot of experience both buying the homes directly, as well as working with other wholesalers who have originated the deals themselves.  In fact, I do a lot of deal with other wholesalers in the DC area.  They bring the deals, I bring the transactional experience along with some capital,  and we mix up our contractors.  We complete the project, and finally we both are happy when a retail sale is made.

    I get excited talking about wholesale real estate.  And that is exactly what we are going to be talking about next Monday night at our next Washington REIA meeting.

    We are going to be talking about finding wholesalers, working with them, and maybe even becoming a wholesaler yourself.

    We will have our April 2014 WREIA meeting this Monday, April 28th.Oh, and you can relax and take it easy Monday night.  There is no national speaker trying to sell you a kit of some sort at the end of the meeting, only to leave town and leave you wondering where to start.  You are going to learn a lot from a few local and experienced real estate professionals, and there is no obligation to buy anything at the end of the night.

    I hope you heard that loud and clear.  Nothing is being sold and there are no get rich quick schemes being promoted.

    Monday night is just good old fashioned learning about this business, with some terrific opportunities to network with other people working real estate right here in the DC area.

    Come join us Monday night.  You will be glad you did.

    And remember to bring your wholesale real estate deals.  Last month we had a few local deals get started  AT OUR MEETING.  Don’t be surprised if you learn about an off-market wholesale deal from another one of our members this month too.

    *******
    Remember…We will have WREIA this month on this Monday, April 28th.
    Same Place, Same Time.
    You can meet us all at the same place at the Womans Club of Bethesda, and we will start at the same time, opening the doors at 6:30 for light refreshments and networking.
    *******

     

    “Wholesale Real Estate”
     Register Here For The WREIA April Event

    Join us at WREIA Monday night April 28th, and let me know if there is anything I can do to help you and your business.

    John Peterson

     301-881-5541

    Washington REIA Network, President

    Profitable Property, Founder

     

    P.S.  The answer is YES, in 2014 we are still doing partner deals with our students and WREIA members.  Do you need some help with financing or need a valuable construction partner with years of experience?  Or do you need us to help speed up the process for you, and help drive your business to the next level?

    We are here to help.  Just send us a few quick details at http://dchardmoneylender.com/quick-property-submit/  and we will get back to you ASAP.