Washington Real Estate Investors Association Network

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  • 8 Opportunities to Mix and Mingle

    Next Monday at Washington REIA Network we will give you all the tips you need to be successful networking as a real estate investor.  More importantly, these soft skills will translate into any other business as well.

    But, for the moment – let’s focus on real estate investors.  Most of us were drawn to this business so we could scratch our entrepreneurial itch.  We wanted a business that depended on us working hard, but allowed us to have a more flexible life.  The problem is, once you cut ties to the corporate world and end your “job” –  you lose a lot of opportunity to meet with people “at work” on a consistent basis.

    For most people the first day as a full time real estate investor is fantastic and frightening at the same time.  You wake up without an alarm clock, take your time to read the paper or catch up on news, but pretty soon you realize you need to get busy.  So you fire up some emails, check some listings, do some research etc.

    Pretty soon you realize it’s 2PM and you haven’t talked to a single person.

    Becoming a real estate investor today is hard work.  But it isn’t limited to just real estate investing.  Becoming a surgeon requires hard work and years of training.  Becoming a nurse requires training, as does a school teacher.  If you want to make $72,000 or more as an occupational therapist, you better be prepared to go through a few years of school and training.

    What do all these careers have in common?  Hard work.

    The only difference is, most people think that flipping houses is easy.  Buy a house, paint some walls, sell the house and make $100k. Sounds simple, right?  Day one in this business will tell you it’s definitely not that simple.

    Now more than ever I see deals getting done behind the scenes. For years, this wholesale market has been active.  Nothing is illegal about wholesaling, but these transactions are not publicly displayed on the MLS.

    Experienced investors know that if we want to sell a property to the retail market – then we list it and broadcast the details to the MLS.  If it’s priced well, it will sell.  We pointed out that a properly priced home will sell quickly – even in Cleveland. If you missed it, the article is posted at http://www.dcprivateinvestor.com/2012/06/07/sold-day/

    Now, let’s go back to day one as an investor.  It’s 2pm and you realize you haven’t talked to a single person.  What you quickly realize is that all that online training and webinar watching will only get you so far.  Eventually, you have to talk to other people and get some business done.

    If you have found that all that time behind a computer has left you a little awkward in a social situation – join us on Monday night at WREIA.  Our speaker is going to give you the “10 Commandments of Networking” for 2012.  Think of Monday night as a guide for the the new etiquette of meeting and growing a network of professional business people.

    ***

    Meet Us June 18th At The June WREIA Meeting

    “Power Networking As A Real Estate Investor”
    Doors will open at 6:30 for refreshments and networking.
    Small group discussions will begin at 6:45.  

    ***

    So, Monday night ends and you are ready to start meeting new people – now what?  Let me give you eight other opportunities to meet other investors around the Metro DC area. None of these events will cost you a dime.

    Than Merrill, the TV star from Flip This House has a company called Fortune Builders.  The Fortune Builders team is in the Washington DC area over the next couple of weeks and will be giving free presentations and introducing people to their training.

    We have all been to these types of events.  2 or 3 hours, lots of good info, and then a pitch to attend another round of training for a fee.  Nobody twists your arm, but if you want to go on and learn more about the topic the opportunity is there.

    Now, I have had dinner with Than, JD and other guys that are part of the Fortune Builders team.  These are good guys, and they truly want you to succeed.  The Fortune Builders training is excellent, and they back it up with experience of their own.  They are actually out in the real world buying and selling properties just like us.

    People from all levels of experience attend these free classes – and let me tell you – they are terrific opportunities to meet new people who have a shared common interest.

    They have different times and dates and the events are scattered all over the DC area from Arlington to Herndon to Greenbelt and Bethesda.

    We posted the times and locations at http://www.dcprivateinvestor.com/2012/06/12/merrills-fortune-builders-washington-dc-area/

    If you just want to sign up to attend, click here or visit http://www.dcinvesting.com/fortunebuilders/

    It is soooooo important to continue to meet new people in our business.  I cannot emphasize that point strongly enough.

    I hope you are participating in our Two Week Challenge and meeting your three new people.  Will you let me know how it is going?  Drop me an email or give me a call.

     If you haven’t heard about our Two Week Challenge,
    read about it here.
    So here it is – easy instructions on growing your network this year, and 8 opportunities to practice your craft in real life.
    1. Learn Power Networking at WREIA on Monday night.
    2. Join other investors around the DC area over the next two weeks.
    3. Rinse and Repeat

    Let me know how I can help you,

    John Peterson

    301-881-5541
    Washington REIA Network, President
    Profitable Property, FounderP.S Yes, we are still lending on great deals.  If you need a finance partner in the Washington DC area, we do have capital available.  You can request a funding letter or share details on your property at http://dchardmoneylender.com/quick-property-submit/ 

  • May 2012 WREIA Recap – June Preview

    www.washingtonreianetwork.com John Peterson recaps the May 21st 2012 meeting of Washington Real Estate Investors Association Network, and gives a preview (more…)

  • Two Week Challenge For Real Estate Investors

    Remember When…

    This is the time of year when we all get a ton of graduation party invitations. It might be graduation from kindergarten, elementary or high school, college or a trade school.The invitation that stuck out to me this year was for a friends son who was graduating from law school.  Quite frankly, I was impressed.  His son never struck me as a real go-getter. When I called to congratulate the father, I asked what the young man’s plans were now.  The answer – “Well, it’s a bit of a soft job market, but he has a few good interviews. I’m sure something will pan out.”
    AMAZING!!  This young man had 19 years of school and he doesn’t know where he is headed?

    Anyway, all the graduation celebrating brings back fond memories for me.

    But let’s start at the beginning – Do you remember your FIRST day of school?

    For most of us, it was exciting, or maybe even a little scary.  When we first arrived at school, we learned the “rules”.  Raise your hand, no talking or laughing, and no pushing or pulling hair. And when the class has to go to lunch or recess, we all have to stand in a straight line and follow the person in front of you.   I never did very well at that straight line rule.  Today, when I drive around looking at properties near a school, I see that some brilliant teacher discovered  the trick is to get all the kids to hold onto a rope. It might not be a straight line, but at least the kids aren’t wandering off anymore.

    Eventually, graduation arrives and we launch off into the real world, and realize that some of the rules don’t apply anymore.  If you have a question about setting up your utilities, raising your hand alone in your first apartment will do you absolutely no good.  You can finally talk and laugh all you want, but there is still no pushing, even in a game of pick-up basketball.

    The rules are different when you grow up, and making friends and networking is a necessity.  I’m not talking about making friends on Facebook.   I’m talking about people you can call when you have a question, and need some help.  I’m talking about REAL help.  Friends that can help when “My deal is about to fall apart if I don’t find an inspector in the next 48 hours, because if it does – I might lose my 30 grand in profit.”  Those helpful “friends” are especially hard to find online if all your Facebook “friends” are just interested in sharing funny cat videos.

    Don’t get me wrong,  Facebook is a great tool you can use in your business.  On the Profitable Property Facebook page, we have a good group of people who often find and contact us when they need some help.  In fact, last month we shared the entire Power Point presentation from the May WREIA meeting.  The presentation is still posted at https://www.facebook.com/ProfitableProperty

    HOWEVER, if you never leave the online world, and venture out to meet new “live” people – your business will die a slow, painful death.

    ***
    Meet Us June 18th At The June WREIA Meeting
    “Power Networking As A Real Estate Investor”
    Doors will open at 6:30 for refreshments and networking.
    Small group discussions will begin at 6:45.  
    ***

    The business rules today are very different from the strict rules you learned in elementary school.  Luckily, there are people who will share the new rules and how you can succeed by using them.  Until recently, I had never heard of the Johari Window. It’s mentioned on page 152 of the current WREIA book club book – Never Eat Alone, by Keith Ferrazzi.

    Never Eat Alone

    In fact, Keith writes that early in his career, one of his mentors brought the Johari Window concept to his attention.  Today, because of that simple moment of sharing, he says “…I’m forever grateful.”

    That’s how it works – one person making just one comment can change your career – forever.  These days you will easily find people online, but make it a point to actually meet the people you find interesting or who you find yourself starting to trust about business.

    So this month, let’s learn something new AND update your skill set.

    Ready?  Let’s go……

    Here is my personal two week challenge for you: 

    Make at least 3 new connections over the next two weeks.

    There are two simple rulesI want you to follow.

    1. These new connections cannot be online.  I want these new contacts to be people you meet in the real world. Over the phone, in person, or at an event.  Maybe it’s at a closing, or calling on a listing.
    2. I want you to talk with them for a minimum of three minutes.  Not just standing in line, and casually saying “hi” but actually engaging someone in a good short conversation.

    BONUS *** You get bonus points if in those three short minutes you mention that you are a real estate investor looking for your next property.

    Some of you are going to be shocked at the outcome.  Out here in the real world, conversations with real people lead to real money. Most of my so-called “competition” is on Facebook looking at cat videos hoping that something will “pan out”.

    That is your challenge.  You have two weeks to have a three minute conversation with at least three new people.

    It’s time for you to graduate. Make it a point to update your skills and start playing by the rules of business that exist today.

    Now get going!!

    If you unearth a deal and need some help, call or email and let me know.

    John Peterson

    301-881-5541
    Washington REIA Network, President
    Profitable Property, Founder
    P.S Yes, we are still lending on great deals.  If you need a finance partner in the Washington DC area, we do have capital available.  You can request a funding letter or share details on your property at http://dchardmoneylender.com/quick-property-submit/ 

     ***

    Register now for the June WREIA meeting online, save $5, and skip the registration line!
    You will also find the registration link at  http://wreia-june2012-wreia.eventbrite.com

  • Washington Real Estate Investors Association – May Meeting Tonight

    Remember When…

    Do you remember your first real estate transaction? How much did you make on your first deal? Almost everyone I talk with that has been in this business for any length of time knows their profit (or loss), to the penny.

    Perhaps you “wholesaled” your property and made 3,5 or 10 grand. Or maybe you did a renovation yourself and made 10 or 20k. Or, did you go the buy and hold route and you still own your first investment property?

    Did you jump right into small commercial property? If you are into commercial property, there is a great article this morning in the Wall Street Journal. What I found most interesting was the graph inside the article showing the number of the transactions through the last few years. You can see for yourself that 2009 was a really, really, challenging year to be involved in commercial real estate.

    You can find the article at http://online.wsj.com/article/SB10001424052970204652904577196822083979222.html

    Whether your prefer residential or commercial, tonight at WREIA we are going to be intensely focused on properties in the DC metro area. If you have been struggling to get started and do your first deal in Washington, you will find tonight helpful. On the other hand, if you “sense” that you should be growing your business during this correction, we are going to shed some light on what might be the root cause of your problems.

    Oh, and I hope you are not disappointed. There is nothing to buy tonight. We are simply going to show you some trends that are happening on the front lines of this business. Then we will share some insight on where other businesses are focused going forward into 2013.

    ***
    Meet Us Tonight At The May WREIA Meeting
    Getting Started or Restarted In 2012
    5 Major Challenges Influencing Today’s Market That Didn’t Exist in 2005

    Doors will open at 6:30 for refreshments and networking.
    Small group discussions will begin at 6:45.
    ***

    Times have changed – pretty dramatically – since 2005. There are many new challenges that you face in 2012.

    The commercial property article mentioned above is about flexibility. I hope you aren’t stuck running your business like you did in 2005. Today is intensely competitive and more about moving quickly and making good quick decisions – then implementing your plan.

    Plan to join us in Bethesda tonight. We are working hard to give you the skills, tools, and access to the people you need to avoid mistakes and be successful.

    How can I help you?

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

    P.S. I posted more details about tonight on our Profitable Property Channel at http://www.youtube.com/ProfitableProperty

    P.P.S Yes, we are still lending on great deals. If you need a finance partner in the Washington DC area, we have capital available. You can request a funding letter or share details on your property at http://dchardmoneylender.com/quick-property-submit/

    ***

    Register now for tonight’s WREIA meeting online, save $5, and skip the registration line!

    You will also find the registration link at http://wreia-may2012-wreia.eventbrite.com

  • Real Estate Investor “Bonking”

    Real Estate Investor “Bonking”

    Some people know it as “hitting a wall.”  Marathoners know it by another name: “bonking”.

    Bonking.  I had never heard of it before. It’s more than just a cramp in your calf, or getting tired half-way through the race.

    It’s when your body completely shuts down on multiple levels.  Your legs just don’t want to move and you begin to mentally shut down. You may experience fatigue at such a deep level you start to hallucinate.

    Runners can train and practice for months, or even years and still “hit the wall” during a marathon.  Endurance runners understand that the race is more than just “running”.  Your body needs the right type of fuel before the event, and your mind has to be prepared as well.  If both the body and the mind are not in a good place, half-way through the race your body may start bonking, and those little green men in your hallucinations may really frighten you.

    Strangely, I see the same thing happen to people in business.  Many people work for 5, 10 or even 20 years, and then they start to fatigue.  Business gets hard.  Times change.  They start to hallucinate and see “little green men” that will ruin their careers.

    Sadly – some people give up at this point in their career.

    Others keep going.

    In 1995 a top athlete named Paula Newby Frazier was running the Iron Man Triathlon in Hawaii and collapsed 400 yards from the finish line.  She could actually be heard saying “I’m going to die”. It terrified most of the people around her.  Moments later, the most beautiful moment of the entire day took place when she got back up and continued.

    Paula finished the race.

    This “bonking” happened to a world class athlete.  You may not realize that Paula, who fell down 400 yards shy of the finish line, also won 21 of 26 Iron Man Triathlons that she entered.  But on that day in 1995, she was a winner simply because she finished the race.

    If you have faced some struggles over the last few years, or even been knocked down in your career or business – you will want to be with us on Monday.

    This month at our WREIA meeting, (which is May 21st) we are going to talk about getting started and restarted in 2012.

    ***

    Mark Your Calendar for May 21st – The May WREIA Meeting
    Getting Started or Restarted In 2012
    5 Major Challenges Influencing Today’s Market That Didn’t Exist in 2005

    ***

    Times have changed – pretty dramatically –  since 2005.  There are many new challenges that you face in this business, or any business.  If you choose to quit when you hit small bumps in the road, you simply will not make it to your finish line. Paula Newby Frazier didn’t quit in 1995.  She was 400 yards from the finish line. She simply had to finish.

    No matter where you are in your career Monday night we will shed some light on major challenges influencing today’s market.  If you have yet to do your first deal you will want to join us.  More importantly, if you are making 300k or more in this business –  you will definitely want to join us.

    Get ready for Monday night.  We are working hard to give you the skills, tools, and access to the people you need to avoid mistakes and be successful.

    If I can help you, let me know.

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

    P.S. In this video I posted a few more details about Monday night.

    ***

    Register early for the May 21st WREIA meeting here, and skip the registration line!

    You will also find the registration link at  http://wreia-may2012-wreia.eventbrite.com

  • Invitation to Washington Real Estate Investors Association – May 2012 Meeting

    www.washingtonreianetwork.com John Peterson discusses his first deal, and the May 21st 2012 meeting of Washington Real Estate Investors Association Network. (more…)

  • New “WREIA Book Club” Book at Meeting Tonight

    New “WREIA Book Club” Book at Meeting Tonight

    Never Eat Alone: And Other Secrets to Success, One Relationship at a TimeWe will be distributing our new WREIA Book Club book tonight at our April Meeting.

    If you are a WREIA member, you can pick up your copy tonight.

    Pure and simple – “Never Eat Alone” is a fantastic book.

    In the first pages, there are countless examples of how the successful build the professional networks that help them reach their goals.

    Just a few paragraphs into Chapter Two – one statement jumped out at me and vividly describes where we are in this economy.

    “Today, we need each other more than ever.”

    My business was built with the help of many people. Early on, Ernie Kessler was instrumental in building my business. Today, I still have mentors that give advise and help me sort through issues my company faces each day. Without these friends, my business would not have made it through the last few years.

    Times are changing rapidly. This time of change requires you to reach out to other people, and not be afraid to seek advice and help when you need to. Once you start to do this the right way, you will agree – Today, we really do need each other more than ever.

    Join us tonight at WREIA and pick up your copy of “Never Eat Alone”. Get there a few minutes early and spend some time saying hello to old friends and meeting new people. You may be able to help them, or they may be able to help you.

    See you tonight!

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

    P.S. Register online to avoid the line that sometimes builds at the door. You will find the registration link at http://wreia-april2012-wreia.eventbrite.com .

    Find video updates on the Profitable Property Channel at
    http://www.youtube.com/ProfitableProperty

  • Networking, MidAtlantic Recap, and April 16 WREIA

    What a great spring Saturday!  We only get a few of these perfect days each year – and this is one of them.   I hope you are enjoying the day.

    I made a short invitation to WREIA Monday night, it’s posted on our YouTube Channel, and you can find it right here.

    To recap – Monday night we will be talking about how you can profit when working with the various types of bankruptcy. Get there early because we will be kicking off the night with networking over pizza and drinks.

    If you missed it, you can still find our last video and article posted at

    http://dchardmoneylender.com/2012/04/u-s-bankruptcy-court-greenbelt-md/

    In the video I tell you about the two businesses I bought out of bankruptcy.

    I hope you join us Monday night.  We will start off with pizza and drinks, a good time for networking, then announce a few “steals and deals” and finally get into some good content for the evening.

    Will you join us Monday evening?  Be sure to register to avoid the line.

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

    Find video updates on the Profitable Property Channel at
    http://www.youtube.com/ProfitableProperty

  • Greenbelt Bankruptcy Court – WREIA Meeting April 16

    www.washingtonreianetwork.com John Peterson discusses his experience with buying real estate and other property through the bankruptcy court system, and invites (more…)

  • Entire Countries Going Bankrupt

    Entire Countries Going Bankrupt

    I enjoy watching 60 Minutes, and a comment stood out during last nights piece about the various European recessions.

    If you missed it last night you can watch the video below, or read the interview here.

    There are very big concerns for the United States recovery, if Europe is unable to get their various economies moving again.

    Getting various countries economies going again is a big undertaking. 10 European countries are in a recession, and some countries like Spain have 23 percent unemployment. This organized effort is even more challenging when – at one time or another – many of these countries have been at war with each over the last 1,000 years or more.

    One comment by a London financial analyst kept my attention – “….if it’s uncharted waters, then that makes a lot of people very nervous. ”

    Why did it keep my attention? Because when I hear statements like that, I know someone is making a profit. When people get confused, or scared, there is opportunity. Some people take advantage of the situation, and can harm companies or people even more, while others see an opportunity to help.

    That is exactly the case with Bankruptcy here in Maryland, DC and Virginia. It’s fairly easy for you to find people or companies in various stages of bankruptcy, and from there, you have a choice.

    Do you want to help a company or person, or will you look into the situation just for your own personal gain? Entire industries exist on both sides. Some “vulture funds” exist just to carve up companies and sell the pieces. Other companies exist that are “turnaround” specialists and they help companies become profitable again.

    We are going to be talking about Bankruptcy at our Washington REIA meeting next Monday.

    Think about the content in the video above. We will use some of the comments in the video as a backdrop for our conversation Monday night. The issues happening on a global scale are also taking place on a local level right in our backyard. When we finish Monday night, you will have the opportunity to be a “vulture” in some cases, or you can help people move on and get a fresh start.

    The 60 Minutes segment makes the motto of the Maryland Districts Bankruptcy Court even more relevant to Monday night and our discussion at WREIA – “To promote social and economic order by reconciling the opportunity of debtors to a fresh start with the right of creditors to be paid.”