Category Archives: DC Real Estate Investing

5th Attempt Meets Success

DC Real Estate Investing
Diana Nyad about two miles off of Key West, Fla Photo by Andy Newman/Florida Keys News Bureau, via Associated Press
Diana Nyad about two miles off of Key West, FL. Photo by Andy Newman/Florida Keys News Bureau, via Associated Press

“I have three messages. One is we should never, ever give up. Two is you never are too old to chase your dreams. Three is it looks like a solitary sport, but it takes a team.”

That is a quote from Diana Nyad, the first person to swim from Cuba to Key West Florida, without the assistance of a shark cage.Ms. Nyad wasn’t on vacation in Cuba with a few too many umbrella drinks when you jumped and said “Let’s swim home!”  And she certainly didn’t make the swim alone – she had 35 support people who helped her train over the last 4 years.

Ms. Nyad has been at this for some time, and her Cuba to Key West quest didn’t begin 4 years ago.  No, she didn’t start this process at 60 years old.  Her first of 5 attempts was back in 1978, when she was 28 years old.

Yesterday, Ms. Nyad completed a 110 mile swim – AT AGE 64!

This is an absolutely incredible story about human determination, and the NY Times has a great article posted at http://www.nytimes.com/2013/09/03/sports/nyad-completes-cuba-to-florida-swim.html

The quote of Ms. Nyad along with her determination got me thinking…..

“Don’t we sometimes give up at the last minute, just before we break through for a final victory?”

Ms. Nyad BEGAN her quest back in 1978, failed 5 times, and just met with success YESTERDAY.

She had to battle sharks, jellyfish, horrible Gulf storms, and her own isolation.   Makes me blush when I think that sometimes I have talked about real estate investing as a sometimes solitary business.   The solitary atmosphere is a big part of the reason I started WREIA, just so I could meet more people I could relate to.  But my work environment has NOTHING on what Ms. Nyad has put herself through over the last few years.

“Successful Real Estate Marketing”
Guest Speaker @ WREIA September 16th – Register Here

Diana Nyad finally finished her quest 36 year quest yesterday at age 64. No matter how old or young you are, keep stretching to reach your goals.  Keep reaching out for more help where you need it, and keep your eye on your prize, whatever that may be.

As we head into the fall months and the home stretch of 2013, I hope you keep going, adapt when needed and stay motivated. Don’t lose your enthusiasm.  There is no need to isolate yourself in the day to day grind.  Come out and join us at WREIA.  Our members are here to help you stay on track for the last half of 2013.

***Lastly, don’t forget September 16th.  Our next meeting is on the topic of Real Estate Marketing.  THIS IS ALWAYS A MEMBER FAVORITE TOPIC.  Come join us and add a little kick to the fall months ahead.

Let me know if there is anything I can do to help your business,

John Peterson

301-881-5541
Washington REIA Network, President

Profitable Property, FounderP.S.   The “March To 100” campaign is in full swing, and we have moved into phase two of our plan and well on our way to 100 properties.  Attn: Property Finders and Wholesalers – You can profit from this plan too!  If you want a few more details about the campaign, and the types of properties we are buying with the sole plan to place them in a rental portfolio, come join us at WREIA.

P.P.S  The answer is YES, we are still doing partner deals with our students and WREIA members.  Maybe you need some help with financing or need a valuable construction partner with years of experience?  We can help speed up the process for you, and help take 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.

Winston Churchill Success Tip

DC Real Estate Investing

Most of my friends have failed, or encountered a setback somewhere along their life’s journey.  I am grateful that, as a group, we have been there for each other when the person next to us needed a shoulder to lean on.

One of the benefits of getting a little older is perspective.  Maturity gives you a chance to look back at what you did, the outcomes, and what you did to get through the difficult times.

I just finished reading a short article that had an interesting quote from Winston Churchill:

Winston Churchill

I thought to myself “What a great blueprint for success.”   In very few words Mr. Churchill sums up success.   Basically, find what you love to do, go after it with enthusiasm, and no matter the outcome don’t lose your enthusiasm.

I’m not suggesting that every day needs to be celebration and parties. But when you have a bad afternoon, realize that it’s ok, and it’s part of the process of success.  Deep down inside and at your core – remember your enthusiasm and reason you do what you do – whatever that reason may be.  That purpose will keep you going.

“Success and Failure”
Guest Speaker @ WREIA July 15th – Register Here

I’m excited about our guest at Washington REIA this month. He is a good friend of mine and I twisted his arm to share his life story as someone who started numerous businesses, including real estate projects.  You will enjoy listening to him as he talks about some of his ventures that have failed and some that reached great heights.

His story isn’t about a rich kid who had every advantage available to him.  He grew up on a farm in Southern Maryland and has worked hard his entire life.  He still lives here in the DC area with his wife and two kids.

Keep going, adapt when needed and stay motivated. Don’t lose your enthusiasm. Then get your ticket to WREIA for this Monday, July 15th.  We are here to help you stay on track for the last half of 2013.

***Lastly, don’t forget that every year we take the summer break in August.  Our next meeting after this Monday will be in September.  Come join us and add a little kick to your summer routine.

Let me know if there is anything I can do to help your business,

John Peterson

301-881-5541
Washington REIA Network, President

Profitable Property, FounderP.S.   The “March To 100” campaign is in full swing, and we have moved into phase two of our plan and well on our way to 100 properties.  Attn: Property Finders and Wholesalers – You can profit from this plan too!  If you want a few more details about the campaign, and the types of properties we are buying with the sole plan to place them in a rental portfolio, come join us at WREIA.

P.P.S  The answer is YES, we are still doing partner deals with our students and WREIA members.  Maybe you need some help with financing or need a valuable construction partner with years of experience?  We can help speed up the process for you, and help take 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.

One Valuable Trait Of Successful People

DC Real Estate Investing

Now Which Way Do I Go?

Adaptability – It’s just one trait of successful people. Many people get into real estate and learn a technique that works.  Pretty soon, other people (their competition) implement the same strategy, and the next thing you know the first person has less success.  After a while, they say to themselves “This real estate thing doesn’t work”, and they are off to their next venture.

The reality is, if the same person had changed their plan, even just a little, they could have gotten back on track and gathered momentum again.  All they needed was to ADAPT to the  new competition or their changing market.  In my early years working in this business I quickly realized than no singled strategy worked all the time – I had to make changes to keep going.

“Success and Failure”
@ WREIA July 15th – Register Here

Every July I like to take a little time to step back and analyze what is, and is not working in my business.  It gives me a chance to adapt to what the market may be telling me.  I have to admit that sometimes I get a little stubborn and stick to something that isn’t working.  I just keep telling myself that “It’s a numbers game” and I just need to do more of this or that….. but the evidence can show me something very different. This regular “pause” to analyze keeps my stubborn side in check.

For example:  We do various types of advertising and marketing throughout the year. We keep a close eye on what is working, and what isn’t.  When we do a review of the results, like we are doing again this month, we choose to stick with the best tactics, and give the rest a break.  We don’t shelve it completely, but we will scale waaayyy back – sometimes 90% or more of one particular tactic.

Our guest at Washington REIA this month is a good friend of mine – and he will share his tremendous story of someone who has started numerous business ventures, including real estate projects.  Some have failed and some have reached great heights.

His story isn’t about a rich kid who had every advantage available to him.  He grew up on a farm in Southern Maryland and has worked hard his entire life.  He still lives here in the DC area with his wife and two kids.

This month, take a pause, and reflect on what is working for you, and what isn’t.  Come join other investors and gather some information from them as well.  Many of our members are happy to share what they are doing.  This DC area is so huge that those of us with years of experience realize that there is PLENTY of opportunity to go around, and plenty of people that need our help.

Keep going, adapt when needed and stay motivated. Then get your ticket to WREIA for this Monday, July 15th.  We are going to help you stay on track for the last half of 2013.

Let me know if there is anything I can do to help your business,

John Peterson

301-881-5541
Washington REIA Network, President

Profitable Property, FounderP.S.   The “March To 100” campaign is in full swing, and we have moved into phase two of our plan and well on our way to 100 properties.  Attn: Property Finders and Wholesalers – You can profit from this plan too!  If you want a few more details about the campaign, and the types of properties we are buying with the sole plan to place them in a rental portfolio, come join us at WREIA.P.P.S  The answer is YES, we are still doing partner deals with our students and WREIA members.  Maybe you need some help with financing or need a valuable construction partner with years of experience?  We can help speed up the process for you, and help take 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.

“Some of the forces driving the housing market aren’t sustainable.” – LINK

DC Real Estate Investing
“State Of Financing – 2013”
June 17th at WREIA.
Finally, Forbes is reporting broader details on just how many homes are being gobbled up by those “evil” institutional investors.
If it was left to traditional home buyers, the year over year gains in home purchases would actually be losses.”But John, I thought the real estate market was going gang-busters?!
“Sorry – there are still headwinds in the DC market as well as other major markets across the country.
We have been telling you every month this year – BE SAFE AND DO GOOD DEALS. Don’t get carried away and do a mediocre deal just to keep busy.  This is a good market to be buying homes in good neighborhoods – but be careful.
I’m convinced that now more than ever FINANCING is the major obstacle to the U.S. real estate market recovery.I hope to see you Monday at WREIA where our guest speakers are going to give some details from behind the scenes in the mortgage markets.
Get your tickets now for June WREIA – click here.

 

Next Monday we are going to talk about selling your investment property in 2013 and what you can expect from your retail buyers when they are coming to the deal with traditional bank financing.   We are going to be talking about finding money for your deals, and things to keep an eye on with your buyers financing as well.

 

Your buyers financing options are going to change again on January 10th, 2014 – and you can be ready for it.

 

Keep going today, stay motivated and get your ticket to WREIA for this Monday, June 17th.  We are going to help you lay out a business road-map for the last half of 2013.

 

Let me know if there is anything I can do to help your business,

John Peterson

301-881-5541
Washington REIA Network, President

Profitable Property, Founder
P.S.   The “March To 100” UPDATE – Phase 1 is complete! We are in full swing and local Wholesalers are getting PAID!  If you want a few more details about the campaign, and the types of properties we are buying with the sole plan to place them in a rental portfolio, come join us at WREIA.
P.P.S  The answer is YES, we are still doing partner deals with our students and WREIA members.  Maybe you need some help with financing or need a valuable construction partner?  We can help speed up the process for you, and help take 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.

For Most People This is Just Too Hard – NPR Link

DC Real Estate Investing
“State Of Financing – 2013”
June 17th at WREIA.

If you were driving through the storm this morning, you might have heard an interesting story on NPR.  One of the NPR reporters, Uri Berliner, is taking $5,000 and investing it across different types of investments.

When discussing the options available in real estate, one of his options is taking out a “high risk” loan and using it to fix up and flip a house.   He decides against it.

Poor Uri.

Someone should have told him he could use $100 to flip a house like our wholesalers do, and make a nice flip fee – maybe even a few thousand dollars.

Instead Uri  chooses to invest in a REIT index fund.   For my two cents – he is relying on other professionals, rather than making his own decisions about the value of a property.  I see “professionals” making mistakes every day.  Mostly because they don’t get out and put their boots on the ground. They want to do everything from the internet.  Let me tell you, I never get nervous about the “big boys” coming into our business.  I think they are ultimately going to get burnt – bad.

Now, just for fun, I looked up the 5 year return on the Vanguard REIT Index Fund.

The FIVE YEAR RETURN?  It’s down 1.44%.

Someone should tell Uri to talk with me – I could show him a dozen ways to make money in real estate without buying a REIT Index Fund.

I believe we are in for a bumpy ride over the next few years.  HOWEVER, there is a fortune to be made for those who want to put their heads down and take advantage of the current financing that is available.

I paid over 20k to a wholesaler over the last few weeks.  His deals are good.  He knows that I close my deals.  This wholesaler knows that he gets paid when he works with me.  I know for a fact that he gets higher offers – but he works with me – almost exclusively.

Banks are the same way.  When you get started, you may not get the best rates possible.  But when you get going, and PROVE you know your business, things get a lot easier.  They start calling you about increasing your lines of credit – and lowering your rates.

Right now is great time to work with some new lenders.  They are anxious to start lending, but they want to work with real estate entrepreneurs again.   Of course they want to work with the RIGHT people.

If you have put 10’s or even 100’s of thousands of dollars into a deal, the thing I think you need to be most concerned about is your buyer and their financing.

Next Monday we are going to talk about selling your investment property in 2013 and what you can expect from your retail buyers when they are coming to the deal with traditional bank financing.   We are going to be talking about finding money for your deals, and things to keep an eye on with your buyers financing as well.

Too many people make this business too complicated. Find a house that needs some work.  Buy the house at the right price. Do the work.  Sell the house and make a profit.

It’s a simple plan, and there are plenty of places to make mistakes along the way.  But when you buy a house at the right price, you can make a ton of mistakes and still make a profit.

That said, the biggest issues I see facing our business today is financing.

It may be getting a little easier for you if you are the right person the bank is looking for, but it’s getting tough when it comes to traditional financing for your buyers.

Your buyers financing options are going to change again on January 10th, 2014 – and you can be ready for it.

Keep going today, stay motivated and get your ticket to WREIA for this Monday, June 17th.  We are going to help you lay out a business roadmap for the last half of 2013.

Let me know if there is anything I can do to help your business,

John Peterson

301-881-5541
Washington REIA Network, President

Profitable Property, Founder

“My Deal Fell Apart At The Last Minute”

DC Real Estate Investing
“State Of Financing – 2013”
June 17th at WREIA.

When I asked how her deal was coming along, she replied that her sale fell apart “at the last minute.”

I asked “Why?” especially when I knew it was such a good deal and she had perfectly priced in that neighborhood.

“Financing.”

First – Let’s dispel the myth about investment capital.  There is money available for investors.

Banks have money available for investors – and at pretty great rates.

It’s what we call a normal market for investors.  In 2005-06 you could get an investor loan by walking into a bank and fogging a mirror.  Today, you will need decent credit, 20-30% down, qualifying reserves and a well priced deal – but the money is there.

But at WREIA this month local mortgage and banking professionals are going to answer two BIG questions for investors:

  • Who is lending to investors?
  • What is their criteria?

Back to my friend – lack of funds was not why her deal fell apart at the last minute.   She was trying to sell her property – after she had finished about 80k of renovations.  She had done most of the work on a very tight budget – but didn’t have the documentation to prove the amounts she had spent.  This simple mistake kills deals today.

 – THE LESSON –

YOU MUST DOCUMENT YOUR RENOVATIONS!

Next Monday we are going to talk about selling your investment property in 2013 and what you can expect from your retail buyers when they are coming to the deal with traditional bank financing.

It’s a whole new ball game when it comes to traditional financing for your buyers.

It’s going to change again on January 10th, 2014 – and you can be ready for it.

Keep going today, stay motivated and get your ticket to WREIA for this Monday, June 17th.  We are going to help you lay out a business roadmap for the last half of 2013.

Let me know if there is anything I can do to help your business,

John Peterson

301-881-5541
Washington REIA Network, President

Profitable Property, FounderP.S.   The “March To 100” UPDATE – Phase 1 is complete! We are in full swing and local Wholesalers are getting PAID!  If you want a few more details about the campaign, and the types of properties we are buying with the sole plan to place them in a rental portfolio, come join us at WREIA.P.P.S  The answer is YES, we are still doing partner deals with our students and WREIA members.  Maybe you need some help with financing or need a valuable construction partner?  We can help speed up the process for you, and help take 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.

Connect The Dots & Banks Behaving Badly

DC Real Estate Investing
   When You Step Back, This Is Pretty Easy To See…

I know it seems like ancient history, but let’s look at a RealtyTrac article that came out just 90 days ago….

“Foreclosure Sales and Short Sales Account for 43 Percent
of U.S. Residential Sales in 2012”

You might say 43% sounds like a lot for distressed sales, but what is normal?”

Well, this chart might shed a little light on just how out of whack 43% actually is:

Now, Let’s Connect Those Facts With These Next Two Headlines

From The Last Few Days.
“N.Y. AG Revising Foreclosure Settlement Complaint Against B of A, Wells”
And
“Banks Still Behaving Badly”

From the second article, posted at http://www.nytimes.com/2013/05/09/opinion/banks-still-behaving-badly-on-mortgages.html?_r=0

“The lawsuits are another sign that more than a year after the mortgage settlement between five big banks and state and federal officials banks are still mishandling foreclosures in ways to benefit themselves while harming borrowers. Mr. Schneiderman is right to object, but the sad truth is that a concerted government effort to hold banks accountable has never materialized.”

Did you catch that???

“….banks are still mishandling foreclosures in ways to benefit themselves while harming borrowers.”

Please listen…. People out there need your help!

If you know how to deal with these banks, you should be making a fortune right now.

That is exactly why you need to be with us Monday at WREIA.  We are going to be talking about how to deal with these banks, and how to deal with the homeowners that are in distress.  

And I know what you are going to say…. “But John, they keep saying how great real estate is right now, and how fast prices are rising.  There is no inventory.”

Well, we are going to talk about that too, and give you some tactics that may change your opinion about just how “great” the market is in our backyard. Before you run out and bet your last dollar on real estate, you should examine the risks that still exist.

 “Your First, Middle and Last Real Estate Deal”

Whether you are getting started, thinking about moving to full time investing, or ready to flip out a few of your rentals to long term multi-family holds though a 1031 Exchange – we will have some updated strategies for you.

2013 is different from years past, and we are going to be talking about some of the reasons why things “feel” different.

Keep going today, stay motivated and get your ticket to WREIA for this Monday, May 20th.  We are going to help you lay out a business roadmap for the last half of 2013.

Let me know if there is anything I can do to help your business,

John Peterson

301-881-5541
Washington REIA Network, President

Profitable Property, FounderP.S.   The “March To 100” campaign is in full swing.  We are starting to pick up momentum and you can help, and get paid at the same time!  If you want a few more details about the campaign, and the types of properties we are buying with the sole plan to place them in a rental portfolio, come join us at WREIA.

P.P.S  The answer is YES, we are still doing partner deals with our students and WREIA members.  Maybe you need some help with financing or need a valuable construction partner?  We can help speed up the process for you, and help take 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.

Man Loses Life Savings Trying To Win Stuffed Banana

DC Real Estate Investing

You Can’t Make This Stuff Up…

“Henry Gribbohm says he lost his life savings, $2,600, on a carnival game and all he has to show for it is a stuffed banana with dreadlocks.”

You can find the entire story here – http://boston.cbslocal.com/2013/04/29/nh-man-loses-life-savings-on-carnival-game/

People around the country are going crazy with their life savings.

With one of the lotteries now projected to win over $600 Million tonight, people from all over the country are spending like mad trying to win the jackpot.

One Arizona couple, who has already won two much smaller lotteries, spends about $10,000 a year buying more tickets.   It’s nearly 10% of what they make from their previous winnings!

You can find their story here – http://abcnews.go.com/blogs/headlines/2013/03/couple-who-won-million-dollar-lottery-twice-credits-persistence/

Of course, if you want to spend a couple bucks on the lottery for the fun of it – enjoy.  Just don’t go crazy and start spending money you can’t afford to lose …. the odds are 1 in 175 million that you will win.  A math geek explains the real odds of winning here.

If you plan to be a little more realistic about your investments, and know that real estate holds a better chance at providing a real return on your time and money, you need to join us Monday night at WREIA.  We will have a room full of people who have made a real difference in their lives through real estate.  No matter where you are in your career there will be some nugget of information you can take away from the evening and use in your business.

“Your First, Middle and Last Real Estate Deal”
@ WREIA This Month

Whether you are getting started, thinking about moving to full time investing, or ready to flip out a few of your rentals to long term multi-family holds though a 1031 Exchange – we will have some updated strategies for you.

2013 is different from years past, and we are going to be talking about some of the reasons why things “feel” different.

Keep going today, stay motivated and get your ticket to WREIA for this Monday, May 20th.  We are going to help you lay out a business roadmap for the last half of 2013.

Let me know if there is anything I can do to help your business,

John Peterson

301-881-5541
Washington REIA Network, President

Profitable Property, FounderP.S.   The “March To 100” campaign is in full swing.  We are starting to pick up momentum and you can help, and get paid at the same time!  If you want a few more details about the campaign, and the types of properties we are buying with the sole plan to place them in a rental portfolio, come join us at WREIA.P.P.S  The answer is YES, we are still doing partner deals with our students and WREIA members.  Maybe you need some help with financing or need a valuable construction partner?  We can help speed up the process for you, and help take 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.

Something To Get Excited About

DC Real Estate Investing
May20th, WREIA
“Your First, Middle and Last Real Estate Deal”
Doors Open and Registration Begins at 6:30.

On a cold rainy day like today it can be hard to stay motivated, so let me give you something to look forward to.

No matter where you are in your real estate investing career we will have something for you at WREIA this month. 

“Your First, Middle and Last Real Estate Deal”

Whether you are getting started, thinking about moving to full time investing, or ready to flip out a few of your rentals to long term multi-family holds though a 1031 Exchange – we will have some updated strategies for you.

Everyone I talk with has been hitting some speed bumps along the way this year.  You might be surprised what some of us are doing to stay ahead of the issues and keep moving in 2013.

Keep going today, stay motivated and mark your calendars for the evening of May 20th.  We are going to help you lay out a business roadmap for the last half of 2013.

Let me know if there is anything I can do to help your business,

John Peterson

301-881-5541
Washington REIA Network, President

Profitable Property, Founder

P.S.   The “March To 100” campaign is in full swing.  If you want a few more details about the campaign, and the types of properties we are buying with the sole plan to place them in a rental portfolio, come join us at WREIA.

Knowledge = Power

DC Real Estate Investing

You know that right now you must make the strongest offer possible in order to “win” properties in the DC area.

….But timing has a lot to do with your strongest offer.

There is a great article in the Washington Post today that details some of the old tricks we had to use in 2005 when we wanted to win our chosen property.

You can find the full article at http://www.washingtonpost.com/realestate/hot-housing-markets-revive-techniques-that-marked-the-bubble-of-a-decade-ago/2013/04/10/8565827c-a078-11e2-9c03-6952ff305f35_story.html

We just talked about highest and best requests a few days ago, and the WP article touches on the low ball listing tactic that usually comes with those competitive auction style scenarios.

I might also remind you that the last time we used those tactics was back in 2005-2006 – just before we had massive issues with our real estate pricing across the country.

Be careful out there – and don’t let emotions get in the way of a good business plan.

Let me know if there is anything I can do to help your business,

John Peterson

301-881-5541
Washington REIA Network, President

Profitable Property, Founder
P.S.   The “March To 100” campaign is in full swing.  If you want a few more details about the campaign, and the types of properties we are buying with the sole plan to place them in a rental portfolio, come join us this month at WREIA.
P.P.S. If you are concerned about losing the wealth you have fought so hard to accumulate, you will want to join us tomorrow.  Remember, there is a 33% chance you will be sued in your lifetime.  (There is a 10% chance you will be sued this year.) Our guest speaker will be discussing asset protection tactics and shielding your wealth from frivolous lawsuits.If you don’t learn something new at WREIA this month it will be because you didn’t join us.  Make plans to join us before it’s too late.  You can find the WREIA reservation page at http://wreia-april2013-wreia.eventbrite.com