Re: Out Of Town

Recently – I got out of town.

The family and I simply got in the car and took off for the Carolinas.

It didn’t take long to brush off the stress of getting back to school and getting back to work and the traffic here in DC.

It started with a simple question – “If the kids are going to school online – why do we have to stay here every day?”

So – off we went.

It turned out to be a good experiment.

The focus was still school – online – in the morning for my son. I would catch up on work and phone calls and we would catch a few holes of golf in the afternoon.

I have to tell you, just getting outside for a few days was worth the trip.

One of the side benefits of the trip was the inspiration I took from a single phone call with a relatively new investor who was struggling with the money side of the real estate business.

Her struggle over the last 6 months or so will become your gain next Monday evening. You will get a peek into our conversation with our WREIA meeting this month.

I hope she made some progress on the call. I think above all – she probably struggled with the “Belief” that she could do it.

After we hung up I started to take a few notes and within the hour had developed the outline for our October 2020 WREIA meeting.

“Five Things I’ve Learned After 20+ Years In Real Estate”

Most of our topic this month will be steered toward someone who is new to the business.

For that matter, maybe you are not new, but you will get something out of this meeting if you are simply struggling with all the changes over the last 10+ years.

I hope you join us on Monday at our still virtual October 2020 WREIA meeting.

You can grab a virtual seat here at this link.

Knowledge is key.

We are open for business and will be having our next virtual WREIA meeting on Monday, October 19th.

If you would like to join us grab a reservation at this link.

The reservation is free and we use your email to send you a link prior to the meeting.

Grab your seat for the next WREIA meeting next Monday and be ready to grow your business.

Stay safe and stay healthy, John Peterson

You can join in on the September 2020 WREIA meeting below.

If you need a copy of the notes from the meeting, you can find them posted here.

Our July WREIA Meeting was Monday Night.
Here is the replay. (and a few notes.)

Hello Everyone,

Thank you for joining us Monday night on for our July 2020 Washington REIA meeting.

You can find the July replay pinned on Youtube or Facebook and we also have it posted here:

We shared some great information on Getting Started in Real Estate Investment and I appreciate all the great questions during the prestation and the emails I received after the presentation was completed.

In the meeting I talked about the importance of overcoming fear, building a strongbelief in the business and your firm commitment to success. The business has transformed my life and I am grateful to my introduction many years ago now.

Here is a brief outline of our discussion:

• Belief in Business
• Overcoming Fear
• Traits of Unsuccessful Investors
• Traits of Successful Investors
• Your Role in Real Estate Investment
• Building Your Network
• Road Map to Generate Leads
• Financial Resources (Notes from June Meeting On-line)
• Five Common Mistakes of New Investors
• Power of Negotiation

Following a few simple steps, it will allow you to become successful in the business and place you on the path to financial independence.

Feel free to download the notes from Monday’s Virtual WREIA meeting we mentioned near the end. You can find them at this link. Good Investing,John

Let me know if I can help.

If you are ready…… might be the best decision you have made in months.

E-mail us at ProfitableProperty@gmail.com or text my cell 301-943-5535 with subject line MINI_MENTORING.

Hurry, we can begin our journey soon to help you achieve financial independence.

Tuition: $495

I will personally spend 3 one- hour sessions with you on Zoom or in-person to accomplish our goals.

Once registered, we will connect and create a schedule for time together.Look forward to working with you. REGISTER NOW! 

Stay safe and stay healthy, 
John Peterson

Sunday hike was a little hotter than usual. Along the way I stopped and got a few details about tomorrows WREIA meeting.

You can sign up for a free ticket at this link.

I have a true story from just a few weeks ago that is the perfect example of why communication is vitally important and just how weird of a time we are going through right now.

I had a property under contract in Rockville. It was scheduled to close in mid April.  
My intention was to purchase property, renovate and sell the property for a good profit.

I was informed by the Title Attorney that he was ready to close the deal and wanted details on my financing for the project.  

Many of you know I use private lenders that I have developed in my PRIVATE BANK to finance my buy-renovate-sell opportunities.

I called one of my lenders in Northern Virginia and sent him the INVESTMENT PACKAGE I prepare for all of my investors.  

After a few hours or in some cases a few days, the investor decides to move forward and fund or decides to pass for a reason explained to me in a phone conversation.

If they decide to pass for whatever reason, I move on to another investor in my PRIVATE BANK.

In this case, the investor was satisfied with the risk and property details and told me to move forward.

A week later I called investor and told him the closing was scheduled for Monday and forwarded the wire instructions from title company.

He called me back and let me know he was unable to fund the transaction, because he received a margin call on his brokerage account and did not have access to enough funds to close deal. 

He was very apologetic and I believe a bit embarrassed for placing me in a tough position. i understood and told him we would be in touch on future deals once the market calmed down and he was more liquid.

After panicking for just a brief moment, I called the seller, offered more deposit money to buy another week or two to close the deal. 

They understood and allowed me a few additional weeks to go back to my PRIVATE BANK and secure funding for the deal.

We are in turbulent economic times and we need multiple sources of quality capital to take advantage of solid deals. 

We are open for business and will be having our next WREIA meeting on Monday, June 22nd.

If you would like to join us grab a reservation at this link. The reservation is free and we use your email to send you a link prior to the meeting.

This month we will talk about money and the changes taking place in our business. I will give you Seven totally different sources of capital to fund your deals. Most of these are great to use during specific times and can be used when specific situations arise.

Grab your seat for the next WREIA meeting next Monday and be ready to grow your business.

Stay safe and stay healthy, 
John Peterson

A few snippets of advice and a peek at what other people are doing right now in real estate.

Now is a time to be brave and continue to build on your plan.

But try to blend the bravery with taking smart steps. Now is not the time to be wreckless.

Join us for our May Virtual WREIA meeting. You can grab a seat here at this link.

See you Monday at 7PM.

John Peterson

After I finished posting the “Rain” video this morning, another video was suggested to me as something I might enjoy.  

The YouTube headline got my attention – 

“Inside a $40.5M Estate With a “Batcave” Garage | On The Market | Architectural Digest”

The video was everything I hoped for on a rainy Saturday morning.  

Sometimes you just have to appreciate the different facets of our business and how far some people are willing to go when it comes to creating custom luxury homes. 

I hope you enjoy the video and appreciate the work that goes into creating these luxury showcase homes as much as I do.  

But even more than that – I hope you realize that not everyone has stopped working.  
Homes are being listed, bought and sold – RIGHT NOW – all across the country.  And that includes our back yards here in the DMV area.  

This is a time for NETWORKING, RESOURCES, BELIEF AND EDUCATION.

All of them are Pillars of our WREIA investor community.

Join us this month ONLINE for a great time of learning from other WREIA Members that are still working hard in this strange time.

We have assembled a few of our members and are going to be discussing what is
going on in the marketplace and how they continue to keep moving forward.

We will get perspectives from a Realtor, Investor and a Landlord. 

There are a lot of questions right now…

• Are you still looking for opportunities?
• On your current projects are you still able to get some renovation work done
• Are you seeing some flexibility on price with sellers and wholesalers?
• Are banks, private lenders still lending money?
• Are sellers scared to show houses?
• Are you seeing listings removed from Bright MLS?
• How is buyer traffic?
• Are you seeing renters struggle to pay rent?
• Do you think now is the time to search for more long- term rental opportunities?

Do not miss this VERY IMPORTANT ONLINE meeting.

Register Here – Monday April 20, 2020 at 7pm Eastern Time

We will send you a link to join us online once registered.

Register for the Monday night WREIA meeting now.

Stay safe and stay healthy, 

John Peterson

Learn from the people on the FRONT LINES of the Real Estate Business

Many of you know that the construction, finance and real estate have been deemed essential by local government officials.

Does that mean business as usual?

Listen to a local Realtor, Investor and Landlord and see how they are conducting business in this uncertain time.

• Realtor… She has a 10 member team that is listing and selling real estate. How? And what tools are being used to conduct business?
• Investor… Are sellers and wholesalers more flexible? Is renovation work being completed?
• Landlord… See how he is working with his local banks and helping his restaurant tenants in DC.

We go LIVE on Monday April 20 at 7 pm. Register Now!!

Do not miss this time of Education, Resources and Networking

Plus, we will be meeting our Member of the Month and discussing our Deal of the Month.

Grab your reserved spot while we still have space available. (We are limited to 100 viewers for the “live” event.) Late arrivals will be placed in a slightly delayed video broadcast.

We will be answering questions live at the end . We will also be taking questions before Monday. Stay tuned for more details.

Grab a reservation and we will……

See you Monday!

John

A video we just posted about WREIA’s March meeting.

Click Here for the March registration page.

Oh – and for the first time in 19 years – this month WREIA is free.

Join us on Monday and get your free registration info at the link above.

Thanks!

John Peterson

Ted Thomas, the scheduled speaker for our March WREIA meeting,  has been a long time colleague in the real estate world.  We have known each other for a long time.  

We recently shared with each other in a conference call that we both had concerns about him traveling from Florida and asking our community to gather for our March WREIA meeting – just a few days away on March 23rd.  

His office and mine have agreed that we should postpone his guest appearance at WREIA until later in the year – after we all get a better handle on this virus situation.
While disappointed, we both agreed it was the right decision.  

Which led our office to discuss internally – “What do we do instead?”

We could cancel the meeting altogether, which we quickly disregarded – or we could go virtual.  

Virtual – as in our next WREIA meeting will be 100% online. 

You can attend WREIA in March from home, or work, your car, on your phone, laptop or desktop computer.  Basically, join us at the March WREIA meeting from anywhere you feel safe.  

We will have a very similar format to our regular WREIA meetings – although the meeting will be shorter, completely online (if you sign up, you will get a link to join us) and you will have a chance to ask questions.

So, what are we going to talk about and discuss at WREIA this month?  

The topic has changed to “How to Invest in Times Of Chaos”

I will be sharing what we have done in the past as we went through 9-11 and the 2008 financial crisis that ultimately led to the Great Recession. 

You are going to hear what myself and a few other DC area investors did right – and wrong – and also what we plan to do in the coming months when it comes to our personal business. 

For those of you who registered for the meeting with Ted, we will happily refund your purchase immediately upon request.  Or, you can stay signed up and we will send you details with the link to find us on the 23rd.  

We will have more details over the next few days.  

Stay tuned as we update our site and social media channels. 

More importantly, I hope to see you – online – on the 23rd. 

Stay safe and stay healthy, 

John Peterson