Sunday, December 30, 2007
The last VIDEO Post of 2007!
Hi Everyone, I just posted a short video blog post.
More to come in 2008.
Project 'X' is right around the corner...watch for the
unveiling on January 2!!
I hope 2007 was a great year for you and your family and that 2008 will be even better and more rewarding in every aspect. MY BEST TO YOU AND YOURS!
~Jerry
Wednesday, December 19, 2007
Project X - Burning Question....
Hopefully you are all getting geared up for next week. Me? Well, I'm in Sunriver right now with the wife and kids and since it's nap time for the youngster, I can get some work done...
So...let me answer another BURNING QUESTION ...
"Jerry, How do I find and ID raw land deals?"
OK, this is a great question and one from LOS Member Dr. Lewis Richardson in Salinas...
Actually, it's 2 questions, so I'll do my best to hit both.
1) FINDING RAW LAND DEALS: Try www.loopnet.com and search for "raw land" in your state. Another place? Brokers. Tell them to send you a list of raw land that is for sale. Another? Send a letter to owners of raw land where you want to buy telling them you are interested in buying.
2) How do you ID them? This won't be complete answer, like #1 above, but, give enough to get you moving in the right direction. I look for properties in the path of progress, neglected properties (overgrown, junk, etc.), properties with past due property taxes (the country generally can give you info), and I ID them by taking the above in consideration and if they are listed or I know what they theoretically might be worth, I can get a quick idea if they are potential DEALS or not.
OK...until next time, and, have a VERY happy holiday season.
Best, Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
So...let me answer another BURNING QUESTION ...
"Jerry, How do I find and ID raw land deals?"
OK, this is a great question and one from LOS Member Dr. Lewis Richardson in Salinas...
Actually, it's 2 questions, so I'll do my best to hit both.
1) FINDING RAW LAND DEALS: Try www.loopnet.com and search for "raw land" in your state. Another place? Brokers. Tell them to send you a list of raw land that is for sale. Another? Send a letter to owners of raw land where you want to buy telling them you are interested in buying.
2) How do you ID them? This won't be complete answer, like #1 above, but, give enough to get you moving in the right direction. I look for properties in the path of progress, neglected properties (overgrown, junk, etc.), properties with past due property taxes (the country generally can give you info), and I ID them by taking the above in consideration and if they are listed or I know what they theoretically might be worth, I can get a quick idea if they are potential DEALS or not.
OK...until next time, and, have a VERY happy holiday season.
Best, Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Wednesday, December 12, 2007
Cont'd from Last Post...
Yeah, got trigger happy here to get that post up.
One thing I forgot to mention...
If you, the BLOG supporter/reader, do NOT have an educational base down...
Stay tuned to this BLOG.
Having a good, fundamental understanding of basic real estate terminology is key.
Here's a great resource available from Amazon.com:
http://www.amazon.com/Dictionary-Estate-Barrons-Business-Dictionaries/dp/0764124463/ref=pd_bbs_sr_1?ie=UTF8&s=books&qid=1197515782&sr=8-1
This bad boy is a great tool and will keep you informed on terms, etc.
A shameless plug (and why to stay tuned): My new A to Z CDs and Basic Training Program will be available in a matter of days...Watch for that. It's is THE best training for any newbie or someone that thinks they know it all...I guarantee it'll be an education NOT available anywhere else...
OK, that's it for tonight. Promise.
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
One thing I forgot to mention...
If you, the BLOG supporter/reader, do NOT have an educational base down...
Stay tuned to this BLOG.
Having a good, fundamental understanding of basic real estate terminology is key.
Here's a great resource available from Amazon.com:
http://www.amazon.com/Dictionary-Estate-Barrons-Business-Dictionaries/dp/0764124463/ref=pd_bbs_sr_1?ie=UTF8&s=books&qid=1197515782&sr=8-1
This bad boy is a great tool and will keep you informed on terms, etc.
A shameless plug (and why to stay tuned): My new A to Z CDs and Basic Training Program will be available in a matter of days...Watch for that. It's is THE best training for any newbie or someone that thinks they know it all...I guarantee it'll be an education NOT available anywhere else...
OK, that's it for tonight. Promise.
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Project 'X' - Burning Question: Where do I start, Dude?
OK, so I continue to get questions from the AskJerryJones.com website.
Today's ?:
"Dude, where heck do I start? I've got a ton of great information, but like you said at your event...Education without implementation is just entertainment...Screw the entertainment, I want some dough!"
Good. First, you have the right attitude. That's impt point numero uno.
So, for this guy, that asked a slight variation of this question, Willie is his name, he's been to Ron LeGrand's(R) Quick-Turn 5-day event. He's got a good BASE.
So, what next?
Easy...Get potential sellers calling you.
Marketing is what this boils down to.
I mean, you know how to make an offer (you write down what you want and put it into a Purchase and Sales agreement, right? do this AFTER having a conversation with your seller), you know who to call when you have an offer accepted. You know you need to SELL soon after you buy since at this point, it's all about quick-turning the properties and getting cash in the bank.
So...the missing link, SELLERS that are ready, willing and able to sell.
Willie, one of the members and BLOG readers that asked this question, KNOWS what to do for marketing...there are choices:
1) run an ad in the daily newspaper - I like Richard Roop's ad. It starts out, "Sell Your House As-Is..." That's the headline. Best one I've ever read. It beats the hell out of, "We Buy Houses." So. What's in it for me (if I am the seller)? You HAVE to answer that question if you want someone to respond to your ad, right?
2) send out letters, saying you can HELP them out of their problem by BUYING their house as-is, on the date of their choice. You can mail to out of town owners (see your county tax assessor's office for the list), pre NODs (notice of defaults), to people that own their homes free and clear, etc.
3) go to a local REIA meeting and talk to other investors that may have a house they can't close on (no money or they are doing it wrong), or need/want to sell. You'll be amazed what you find at these meetings.
The bottom line is this: GET Started. GET sellers calling you (your PATLive line - more info available at http://www.patlive.comm/signup/jjd ) and start sifting and sorting based on how good the deals look and how motivated the sellers are.
DO NOT deal with unmotivated sellers. Period. DO NOT.
Anyway...enough for one evening...More to follow!
If you have not submitted your question for me, go to: http://www.AskJerryJones.com
Best, Jerry
P.S. Project 'X' is moving along...Let me tell you, I just added an entirely new killer segment to it today that will BLOW your socks off and reveal a strategy that would make your spouse very happy when it comes to building your Nest Egg...More to come. I can't wait - My partner on this was up until 2:00AM last night working to meet the deadline I have given him...
P.S. #2 Some of you checked out the Dan Doran/Richard Roop $37 offer. If you didn't jump on this, you're either insane, on vacation or well, insane. Check it out!
Here's the link: http://m176.infusionsoft.com/go/bd/medgrp/
Adios!
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Today's ?:
"Dude, where heck do I start? I've got a ton of great information, but like you said at your event...Education without implementation is just entertainment...Screw the entertainment, I want some dough!"
Good. First, you have the right attitude. That's impt point numero uno.
So, for this guy, that asked a slight variation of this question, Willie is his name, he's been to Ron LeGrand's(R) Quick-Turn 5-day event. He's got a good BASE.
So, what next?
Easy...Get potential sellers calling you.
Marketing is what this boils down to.
I mean, you know how to make an offer (you write down what you want and put it into a Purchase and Sales agreement, right? do this AFTER having a conversation with your seller), you know who to call when you have an offer accepted. You know you need to SELL soon after you buy since at this point, it's all about quick-turning the properties and getting cash in the bank.
So...the missing link, SELLERS that are ready, willing and able to sell.
Willie, one of the members and BLOG readers that asked this question, KNOWS what to do for marketing...there are choices:
1) run an ad in the daily newspaper - I like Richard Roop's ad. It starts out, "Sell Your House As-Is..." That's the headline. Best one I've ever read. It beats the hell out of, "We Buy Houses." So. What's in it for me (if I am the seller)? You HAVE to answer that question if you want someone to respond to your ad, right?
2) send out letters, saying you can HELP them out of their problem by BUYING their house as-is, on the date of their choice. You can mail to out of town owners (see your county tax assessor's office for the list), pre NODs (notice of defaults), to people that own their homes free and clear, etc.
3) go to a local REIA meeting and talk to other investors that may have a house they can't close on (no money or they are doing it wrong), or need/want to sell. You'll be amazed what you find at these meetings.
The bottom line is this: GET Started. GET sellers calling you (your PATLive line - more info available at http://www.patlive.comm/signup/jjd ) and start sifting and sorting based on how good the deals look and how motivated the sellers are.
DO NOT deal with unmotivated sellers. Period. DO NOT.
Anyway...enough for one evening...More to follow!
If you have not submitted your question for me, go to: http://www.AskJerryJones.com
Best, Jerry
P.S. Project 'X' is moving along...Let me tell you, I just added an entirely new killer segment to it today that will BLOW your socks off and reveal a strategy that would make your spouse very happy when it comes to building your Nest Egg...More to come. I can't wait - My partner on this was up until 2:00AM last night working to meet the deadline I have given him...
P.S. #2 Some of you checked out the Dan Doran/Richard Roop $37 offer. If you didn't jump on this, you're either insane, on vacation or well, insane. Check it out!
Here's the link: http://m176.infusionsoft.com/go/bd/medgrp/
Adios!
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Sunday, December 9, 2007
Another Burning Question Answered...
I am sitting downtown right now, Salem, waiting for my daughter to finish up with her Church's Christmas Play practice.
This groovy little dig I'm at is the Governor's Cup.
If you're ever in Salem, cool place. They roast their own coffee, it's a retro-atmosphere, etc. And, great coffee. It's sort of Bohemian, which for a non-Bohemian like me, it's good to go hang out where I am not normally...
Anyway, enough about me...Another Burning Question...
Here's a question from Dr. Bill:
"What do you do about cash flow when you can't sell?"
Bill, there's a couple ways I can answer this question:
1) the way I buy, cash flow is covered. Richard Roop and Dan Doran call a way to do this, even in areas of higher priced homes where rent is not covering the monthly pymt, The "California Secret." In a later post, I will get into the gist of this.
2) i teach folks to buy houses or other properties using OPTIONS so you have no risk whatsoever, until your exit strategy is clear. Rather than taking the house under contract with a Standard Purchase and Sales Agreement, I use an Option Agreement. I have no monthly cash flow needs...only MARKETING.
The other issue here is you should NOT ignore formulas when you buy. And, if you don't make promises you can't possibly keep in a "worst case scenario" then you have nothing to worry about.
If you don't write BIG CHECK, you can't LOSE BIG CHECK (Famous words of my mentor Ron LeGrand(R).)
Lastly, when using a formula such as MAO=ARVx70%-Repairs. ARV = after repaired value. MAO = maximum allowable offer (ALL courtesy of Ron LeGrand(R).)
So, if you are buying a house at 70 cents on the dollar of it's current value LESS repairs, you are in at price that allows you to sell quickly, no matter the market (you're the lowest priced house out there - who's going to get the attention?). And, by offering owner carry or owner financing of some kind, you'll sell even faster.
I don't target a lot of homes in the upper end of the market. They are more difficult to sell in my area since there are not a lot of fish in that pond (upper end homes in Salem could be anything above $300,000...). I like mid-market or lower-end market homes...NOT junkers, but just properties that are easier for the average person to get into.
Plus, this of course all depends on your exit strategy!
Bill, get to a training event as soon as you can. You'll quickly realize that your question is a good one, but easily answered with the right approach (as low of risk as possible going in on a property) and with the right exit strategy in mind.
Have a good rest of the weekend everyone...
Project 'X' is getting closer to being done by the day!
Best, Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
This groovy little dig I'm at is the Governor's Cup.
If you're ever in Salem, cool place. They roast their own coffee, it's a retro-atmosphere, etc. And, great coffee. It's sort of Bohemian, which for a non-Bohemian like me, it's good to go hang out where I am not normally...
Anyway, enough about me...Another Burning Question...
Here's a question from Dr. Bill:
"What do you do about cash flow when you can't sell?"
Bill, there's a couple ways I can answer this question:
1) the way I buy, cash flow is covered. Richard Roop and Dan Doran call a way to do this, even in areas of higher priced homes where rent is not covering the monthly pymt, The "California Secret." In a later post, I will get into the gist of this.
2) i teach folks to buy houses or other properties using OPTIONS so you have no risk whatsoever, until your exit strategy is clear. Rather than taking the house under contract with a Standard Purchase and Sales Agreement, I use an Option Agreement. I have no monthly cash flow needs...only MARKETING.
The other issue here is you should NOT ignore formulas when you buy. And, if you don't make promises you can't possibly keep in a "worst case scenario" then you have nothing to worry about.
If you don't write BIG CHECK, you can't LOSE BIG CHECK (Famous words of my mentor Ron LeGrand(R).)
Lastly, when using a formula such as MAO=ARVx70%-Repairs. ARV = after repaired value. MAO = maximum allowable offer (ALL courtesy of Ron LeGrand(R).)
So, if you are buying a house at 70 cents on the dollar of it's current value LESS repairs, you are in at price that allows you to sell quickly, no matter the market (you're the lowest priced house out there - who's going to get the attention?). And, by offering owner carry or owner financing of some kind, you'll sell even faster.
I don't target a lot of homes in the upper end of the market. They are more difficult to sell in my area since there are not a lot of fish in that pond (upper end homes in Salem could be anything above $300,000...). I like mid-market or lower-end market homes...NOT junkers, but just properties that are easier for the average person to get into.
Plus, this of course all depends on your exit strategy!
Bill, get to a training event as soon as you can. You'll quickly realize that your question is a good one, but easily answered with the right approach (as low of risk as possible going in on a property) and with the right exit strategy in mind.
Have a good rest of the weekend everyone...
Project 'X' is getting closer to being done by the day!
Best, Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Friday, December 7, 2007
Burning Question, Project 'X'
It hasn't taken much prompting; I've been inundated with great questions from BLOG readers...THANK YOU!
Here's one from N. Montgomery:
"How can I invest when I don't even have the time to XXXXXX?"
Great question.
At the last-ever event in Orlando in November, I covered this in great depth.
Here's the short answer:
If you don't have the time available to invest, you REALLY need to invest in real estate and carve out the time, no matter where it's at, and do it now.
If you claim you don't have enough time, therefore you don't have enough money or knowledge to control your time to carve out the time to GET the education to GET it (whatever IT is) done.
Let me exhibit my point with a story:
Last night I was leaving my local Karate class (my daughter Mady is one belt from Black and I am 2 - it's a great sport for parents and kids to work together in!) and I happened to see my eye doctor there, picking up his kids. I said, "Why don't we get you out here...I mean, if I CAN do it, you can!"
His reply, "I need 5 more hours in a day! I just don't have the time."
I am not saying THIS is his case, but...for most folks, if they had all the money they needed, TIME is not the issue - So...is TIME really the issue or an excuse?
If this is you, and TIME really IS the reason, you're in the spot you're in not "having enough time to invest" because you're working too hard swapping hours for dollars and you have to switch around two things: 1) your thinking; 2) your time management skills.
For instance, it's 9:46 PM on a Friday. My kids are in bed and my wife and I have a "date" at 10PM to catch one of our favorite Friday night shows so I have another 14 minutes to finish this, and it WILL get done.
I have my weekend's and many weekdays for leisure; but when I am working, time is scheduled tight, to the minute and NO ONE interupts my schedule unless they are bleeding or dying.
If you need time mgmt skills or want to get more out of every hour, get Dan Kennedy's book, NO B.S. Time Management for Entrepreneurs. Get it at Amazon.com.
I would hazard a guess that most folks that say they don't have enough time use that as a crutch to keep from having to take action.
I'm not bragging at all but just to give you an idea of what my life is like:
-I sit on the boards of 2 companies.
-I own 6 major businesses and oversee their operations most days of the week when I am working (I have professionals doing the bulk of the work, including my dental assisting school! I spend no more than 1 to max, 2 hours per week working ON that business - so therefore I DELEGATE AND AM NOT AFRAID OF DOING IT...Ron LeGrand(r) says, "The Less I Do The More I Make(TM).") And this IS completely true.
-I have 2 kids - one in 3rd grade and one in diapers still.
-I vacation 4 to 5 weekdays per month (It gets boring and I'm not wired to take vacations. And, I don't like golf.)
-I write 3 to 4 newsletters each month for different personal businesses.
-I do the marketing for 4 to 6 businesses each month, depending on the month.
-I can go on and on.
I AM busy, by choice. AND, I MAKE TIME to do my real estate investing.
It's impt. In fact, no business I run TODAY will have the impact my real estate investing will have on my future. I am building a multi, multi-millionaire nest egg that can't be built in any other business, PERIOD.
Bottom line: it's all about managing time and your life.
I've never found a successful person who used lack of time as an excuse for getting to the next level...no matter how high that next one might be.
Anyway...Keep the questions coming and thanks for asking Dr. Montgomery!
Go to: http://www.AskJerryJones.com
Best, Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Here's one from N. Montgomery:
"How can I invest when I don't even have the time to XXXXXX?"
Great question.
At the last-ever event in Orlando in November, I covered this in great depth.
Here's the short answer:
If you don't have the time available to invest, you REALLY need to invest in real estate and carve out the time, no matter where it's at, and do it now.
If you claim you don't have enough time, therefore you don't have enough money or knowledge to control your time to carve out the time to GET the education to GET it (whatever IT is) done.
Let me exhibit my point with a story:
Last night I was leaving my local Karate class (my daughter Mady is one belt from Black and I am 2 - it's a great sport for parents and kids to work together in!) and I happened to see my eye doctor there, picking up his kids. I said, "Why don't we get you out here...I mean, if I CAN do it, you can!"
His reply, "I need 5 more hours in a day! I just don't have the time."
I am not saying THIS is his case, but...for most folks, if they had all the money they needed, TIME is not the issue - So...is TIME really the issue or an excuse?
If this is you, and TIME really IS the reason, you're in the spot you're in not "having enough time to invest" because you're working too hard swapping hours for dollars and you have to switch around two things: 1) your thinking; 2) your time management skills.
For instance, it's 9:46 PM on a Friday. My kids are in bed and my wife and I have a "date" at 10PM to catch one of our favorite Friday night shows so I have another 14 minutes to finish this, and it WILL get done.
I have my weekend's and many weekdays for leisure; but when I am working, time is scheduled tight, to the minute and NO ONE interupts my schedule unless they are bleeding or dying.
If you need time mgmt skills or want to get more out of every hour, get Dan Kennedy's book, NO B.S. Time Management for Entrepreneurs. Get it at Amazon.com.
I would hazard a guess that most folks that say they don't have enough time use that as a crutch to keep from having to take action.
I'm not bragging at all but just to give you an idea of what my life is like:
-I sit on the boards of 2 companies.
-I own 6 major businesses and oversee their operations most days of the week when I am working (I have professionals doing the bulk of the work, including my dental assisting school! I spend no more than 1 to max, 2 hours per week working ON that business - so therefore I DELEGATE AND AM NOT AFRAID OF DOING IT...Ron LeGrand(r) says, "The Less I Do The More I Make(TM).") And this IS completely true.
-I have 2 kids - one in 3rd grade and one in diapers still.
-I vacation 4 to 5 weekdays per month (It gets boring and I'm not wired to take vacations. And, I don't like golf.)
-I write 3 to 4 newsletters each month for different personal businesses.
-I do the marketing for 4 to 6 businesses each month, depending on the month.
-I can go on and on.
I AM busy, by choice. AND, I MAKE TIME to do my real estate investing.
It's impt. In fact, no business I run TODAY will have the impact my real estate investing will have on my future. I am building a multi, multi-millionaire nest egg that can't be built in any other business, PERIOD.
Bottom line: it's all about managing time and your life.
I've never found a successful person who used lack of time as an excuse for getting to the next level...no matter how high that next one might be.
Anyway...Keep the questions coming and thanks for asking Dr. Montgomery!
Go to: http://www.AskJerryJones.com
Best, Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
A Quick Thanks!
Many of you have already submitted questions for me at AskJerryJones.com and I appreciate it!
One question was "Jerry, where do you find your deals?"
I'll give you an excellent source to sift and sort deals - and when you think you've found one, get a member of your dream team - namely a commercial broker with KNOWLEDGE of the area (property knowledge is even better) and have them help you analyze it to see if it has the makings of a deal.
Here are a couple indicators I use to initially screen a property:
1) cost per sq foot (if raw land) compared to like properties (COMPS are SOLD properties, not listed - listed means squat to me. DEALS DONE are the true measure)
2) cost per "door" or "unit" on apartment rentals/multi-family properties compared to COMPS (ask your dream team member for a CMA - a comparative market analysis - or, just have them give you a ballpark number for what a "door" in like condition usually goes for on the market...It could be $30,000 per door or less in Iowa and here in Oregon, $60,000! So...you have to *know* your market which means asking questions and learning it!
Enough for now...Gotta run. The rain just keeps falling here in the Northwest. My hometown of Centralia, WA has been on national news from the flooding since a dike broke and flooded half the town and put an Applebees and Wal-Marche under water! That's just one of many reasons I left that place!
My best to you and talk to you next week...~Jerry
PS One last thing: We keep getting closer to getting Project "X" done. It's a HUGE amount of work and we have a literal team working on it. I can't wait and YOU are going to LOVE IT!
PS Tell me your burning question about Real Estate Investing... Go to: http://www.AskJerryJones.com
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
One question was "Jerry, where do you find your deals?"
I'll give you an excellent source to sift and sort deals - and when you think you've found one, get a member of your dream team - namely a commercial broker with KNOWLEDGE of the area (property knowledge is even better) and have them help you analyze it to see if it has the makings of a deal.
Here are a couple indicators I use to initially screen a property:
1) cost per sq foot (if raw land) compared to like properties (COMPS are SOLD properties, not listed - listed means squat to me. DEALS DONE are the true measure)
2) cost per "door" or "unit" on apartment rentals/multi-family properties compared to COMPS (ask your dream team member for a CMA - a comparative market analysis - or, just have them give you a ballpark number for what a "door" in like condition usually goes for on the market...It could be $30,000 per door or less in Iowa and here in Oregon, $60,000! So...you have to *know* your market which means asking questions and learning it!
Enough for now...Gotta run. The rain just keeps falling here in the Northwest. My hometown of Centralia, WA has been on national news from the flooding since a dike broke and flooded half the town and put an Applebees and Wal-Marche under water! That's just one of many reasons I left that place!
My best to you and talk to you next week...~Jerry
PS One last thing: We keep getting closer to getting Project "X" done. It's a HUGE amount of work and we have a literal team working on it. I can't wait and YOU are going to LOVE IT!
PS Tell me your burning question about Real Estate Investing... Go to: http://www.AskJerryJones.com
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Thursday, December 6, 2007
I need your help!
Listen/Watch my most recent Video BLOG post.
I would like you to then visit:
http://www.AskJerryJones.com
Have a killer weekend! Best, Jerry
Monday, November 26, 2007
35 to 40 days...BIG Announcement*!
I was going to include this in the last post, but forgot.
In about 35 to 40 days (we're working feverishly on it, against deadlines right now), I've got a HUGE announcement to make linked directly to Real Estate Investing for Busy Dentists and other Professionals.
I'm completely stoked about it and can hardly wait. Stay tuned, I have it planned for right after Christmas...
Best, Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
In about 35 to 40 days (we're working feverishly on it, against deadlines right now), I've got a HUGE announcement to make linked directly to Real Estate Investing for Busy Dentists and other Professionals.
I'm completely stoked about it and can hardly wait. Stay tuned, I have it planned for right after Christmas...
Best, Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
2 Weeks is too long!
It's been almost two weeks since I last posted. Geez, feels like confessional!
Well, as you might imagine, a lot has happened and does happen to all of us in a 2 week period of time.
Let's see...
1) We had a major holiday
2) We all survived Black Friday and Cyber Monday
3) I held my last-ever real estate boot camp for busy dentists
5) Closed on a 6-plex with LOS Members (The Andersons & The Mahoneys)
6) Opened escrow on two other deals
7) Bought a house on a short-sale (I even held the second and paid less this time than the first time I bought it! Not hard in today's market and I bought it well the first time!), had it staged, and, it's being shown regularly - by itself and without me even being involved
8) Revived two commercial deals
9) Analyzing about a dozen rentals in Iowa
10) The 2nd Dental Assisting School class for Willamette Valley Dnntal Assisting School started (The 3rd kicks off in December) - check out the site: www.wvdas.com
11) I had a close relative, my grandmother June, pass away on Turkey Day
12)...there's more, but...Good enough.
Tonight's post is really all about getting things done.
I recently told 2 different groups of dentists totalling about 200 my thoughts on lack of time/shortage of...
Basically, one not having enough time to get done what they want to boils down to not having enough money to make the time available.
There's another way to look at this: If you had all the money you needed, you'd likely very quickly figure out how to better manage your time, right? I mean, why would you waste one minute on things you couldn't stand doing or really, had no right doing in the first place?
You have NO choice but to take command of your own time. This is one area of your life, during your work day, you SHOULD DEMAND that it be respected and utilized to the highest and best use at all times.
If you fail to take control of your time, money and opportunities will remain just out of reach.
If your goal, right now, is to develop a sideline business like real estate investing or like a dental assisting school (see my friend Richard Erickson, DDS - the dental assisting school originator - email him at re777@comcast.net and tell him Jerry sent you), you will no doubt have to make time somewhere some how, or spend the money to have someone else spend their time getting these businesses set up.
I guess my point here is simply this: If you think you don't have time to do something like invest in your future and insure yourself against having to rely on disability funds should you become injured or unable to practice, you're right.
If you THINK you have time and can squeeze it in somewhere, guess what? You're Right!
Now...Go Make an Offer!
~Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Well, as you might imagine, a lot has happened and does happen to all of us in a 2 week period of time.
Let's see...
1) We had a major holiday
2) We all survived Black Friday and Cyber Monday
3) I held my last-ever real estate boot camp for busy dentists
5) Closed on a 6-plex with LOS Members (The Andersons & The Mahoneys)
6) Opened escrow on two other deals
7) Bought a house on a short-sale (I even held the second and paid less this time than the first time I bought it! Not hard in today's market and I bought it well the first time!), had it staged, and, it's being shown regularly - by itself and without me even being involved
8) Revived two commercial deals
9) Analyzing about a dozen rentals in Iowa
10) The 2nd Dental Assisting School class for Willamette Valley Dnntal Assisting School started (The 3rd kicks off in December) - check out the site: www.wvdas.com
11) I had a close relative, my grandmother June, pass away on Turkey Day
12)...there's more, but...Good enough.
Tonight's post is really all about getting things done.
I recently told 2 different groups of dentists totalling about 200 my thoughts on lack of time/shortage of...
Basically, one not having enough time to get done what they want to boils down to not having enough money to make the time available.
There's another way to look at this: If you had all the money you needed, you'd likely very quickly figure out how to better manage your time, right? I mean, why would you waste one minute on things you couldn't stand doing or really, had no right doing in the first place?
You have NO choice but to take command of your own time. This is one area of your life, during your work day, you SHOULD DEMAND that it be respected and utilized to the highest and best use at all times.
If you fail to take control of your time, money and opportunities will remain just out of reach.
If your goal, right now, is to develop a sideline business like real estate investing or like a dental assisting school (see my friend Richard Erickson, DDS - the dental assisting school originator - email him at re777@comcast.net and tell him Jerry sent you), you will no doubt have to make time somewhere some how, or spend the money to have someone else spend their time getting these businesses set up.
I guess my point here is simply this: If you think you don't have time to do something like invest in your future and insure yourself against having to rely on disability funds should you become injured or unable to practice, you're right.
If you THINK you have time and can squeeze it in somewhere, guess what? You're Right!
Now...Go Make an Offer!
~Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Monday, November 12, 2007
An Lesson from Lt Col Oliver North
This past Saturday I had the distinct pleasure of having dinner and sharing the stage with Lt. Col. Oliver North.
My good friend, Troy Skeen, the co-founder of Nehemiah's Ranch for Youth (you HAVE to check out his site: http://www.ranchforyouth.com), had Col. North speak at his 1st Annual Ranch for Youth Fundraiser as the keynote speaker. The Col. and I were on-stage together to brow-beat some well-to-do folks here in Salem to donate to the most worthy cause: Children, Our Future Hope.
The Col. is an upstanding guy, funny, entertaining and one of the things I really liked about him: he was not afraid to ask the crowd for money!
Anyway, at dinner, he and I talked about how one of the most valuable arrangements folks like you and I can get involved with are "groups."
I don't mean like a "user group" on the internet, or a gang.
He talked specifically about how a lot of men could avoid being in situations that caused them grief, harm and money if they stayed away from the beginnings of problems and fought hard to avoid 'em all together. His example was men's groups - for instance, he's been meeting the same group of men, on Tuesday mornings, for years.
They all share their battles, frustrations, hopes, triumphs, etc. and keep each other honest, on the straight and narrow and...they force, yes, FORCE accountability.
So, when one strays, they are ALL on him; to get him "righted" (like a ship that's rolling and pitching in rough seas), and to show some tough love.
I told him I was and had been involved in mastermind groups that functioned in much the same way in business.
I can't think of a better use of one's time with others than in a mastermind format.
This week in Orlando, at the 3rd and Final Real Estate Investing Boot Camp for Busy Dentists, I'll be going into a lot of detail on several case studies of projects that are coming to fruition right now and some that are finished - including 318 18th Street, a 6-plex purchase with 3 of my LOS Program students, Dr. Tim Mahoney, Dr. David and Laura Anderson - we certainly used and are profiting from the Mastermind concept on this project, for sure! My Raw Land and Commercial Property Look-over-the-Shoulder (LOS) Program provides some of that, but on/in a much more (for better or for worse) relaxed setting.
I've got more lessons from Col. North I'll share on future posts. If you haven't checked out his books, pick up War Stories.
It was an honor to have spent time with him on the 232nd Birthday of the US Marines, too. BTW: to you Marines out there, Happy Belated Birthday! And, as we close out this most fortunate day here in the U.S., a HUGE heart-felt THANKS to all the former and current men and women who have and are serving in the US Military - and, to my dad, Dennis, of course :)
Now...Go make an offer!
~Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
My good friend, Troy Skeen, the co-founder of Nehemiah's Ranch for Youth (you HAVE to check out his site: http://www.ranchforyouth.com), had Col. North speak at his 1st Annual Ranch for Youth Fundraiser as the keynote speaker. The Col. and I were on-stage together to brow-beat some well-to-do folks here in Salem to donate to the most worthy cause: Children, Our Future Hope.
The Col. is an upstanding guy, funny, entertaining and one of the things I really liked about him: he was not afraid to ask the crowd for money!
Anyway, at dinner, he and I talked about how one of the most valuable arrangements folks like you and I can get involved with are "groups."
I don't mean like a "user group" on the internet, or a gang.
He talked specifically about how a lot of men could avoid being in situations that caused them grief, harm and money if they stayed away from the beginnings of problems and fought hard to avoid 'em all together. His example was men's groups - for instance, he's been meeting the same group of men, on Tuesday mornings, for years.
They all share their battles, frustrations, hopes, triumphs, etc. and keep each other honest, on the straight and narrow and...they force, yes, FORCE accountability.
So, when one strays, they are ALL on him; to get him "righted" (like a ship that's rolling and pitching in rough seas), and to show some tough love.
I told him I was and had been involved in mastermind groups that functioned in much the same way in business.
I can't think of a better use of one's time with others than in a mastermind format.
This week in Orlando, at the 3rd and Final Real Estate Investing Boot Camp for Busy Dentists, I'll be going into a lot of detail on several case studies of projects that are coming to fruition right now and some that are finished - including 318 18th Street, a 6-plex purchase with 3 of my LOS Program students, Dr. Tim Mahoney, Dr. David and Laura Anderson - we certainly used and are profiting from the Mastermind concept on this project, for sure! My Raw Land and Commercial Property Look-over-the-Shoulder (LOS) Program provides some of that, but on/in a much more (for better or for worse) relaxed setting.
I've got more lessons from Col. North I'll share on future posts. If you haven't checked out his books, pick up War Stories.
It was an honor to have spent time with him on the 232nd Birthday of the US Marines, too. BTW: to you Marines out there, Happy Belated Birthday! And, as we close out this most fortunate day here in the U.S., a HUGE heart-felt THANKS to all the former and current men and women who have and are serving in the US Military - and, to my dad, Dennis, of course :)
Now...Go make an offer!
~Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Thursday, November 8, 2007
The "Funk" Is Hangin' Around
I just talked to my Dad, Dennis. He and my mom are in Florida - a little in advance of the event that starts next week (Still time to register you know?!).
As he's driving from Orlando to the Tampa area, he calls.
"Jerry, you wouldn't believe all the construction going on down here! It's a snowbird's dream! There are HOUSES for under $100,000!"
He goes on to tell me that what the media would have us believe seems to pervade and influence a lot of people - sadly, the vast majority - rather than say "SCREW IT!" and make decisions about the state of "things" on their own.
It's dangerous to rely on the news media for happiness. They sell GORE, bad news, and prey on stories that speak to gloom and doom.
I mean really, just how dang many reports do you see about HAPPY events? Positive breakthroughs in business and so on?
FEW if any. Comparatively, 90% of the news on TV and other media outlets is negative.
This comes back to one thing: You must CONTROL the mood. Not just yours, but your pts, your friends, family and others. You must be a POSITIVE influence on what's GOOD that is happening and focus on that.
No matter what we do, CRAP happens and will continue.
But, to survive, thrive and KICK BUTT in business and personally, you have to focus on the good, the positive, the excellence around you.
Go kick some butt. Make an offer. Buy some property. Sell some property. MAKE something happen; stimulate your local economy.
Adios, Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
As he's driving from Orlando to the Tampa area, he calls.
"Jerry, you wouldn't believe all the construction going on down here! It's a snowbird's dream! There are HOUSES for under $100,000!"
He goes on to tell me that what the media would have us believe seems to pervade and influence a lot of people - sadly, the vast majority - rather than say "SCREW IT!" and make decisions about the state of "things" on their own.
It's dangerous to rely on the news media for happiness. They sell GORE, bad news, and prey on stories that speak to gloom and doom.
I mean really, just how dang many reports do you see about HAPPY events? Positive breakthroughs in business and so on?
FEW if any. Comparatively, 90% of the news on TV and other media outlets is negative.
This comes back to one thing: You must CONTROL the mood. Not just yours, but your pts, your friends, family and others. You must be a POSITIVE influence on what's GOOD that is happening and focus on that.
No matter what we do, CRAP happens and will continue.
But, to survive, thrive and KICK BUTT in business and personally, you have to focus on the good, the positive, the excellence around you.
Go kick some butt. Make an offer. Buy some property. Sell some property. MAKE something happen; stimulate your local economy.
Adios, Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Friday, November 2, 2007
How to Start Small w. Little Risk and More...
A few weeks ago, I rec'd this very good question about Options from a new LOS Member I thought you might find beneficial...
Q: if i start with options [using to buy properties]: who sits during the closing, the owner and the buyer, since i don't really own the property? if so, does the owner then find out that i sold the property for a higher price?
A: Keep this in mind: You are in business to make money and it's ok that you make a lot of it. Never worry about what a new buyer might think, etc. as they have no earthly idea what you did or how much you may or may not have spent to get the property or get it in the shape it is in. most folks already think, as a dentist, that you get paid too much, not realizing the risks, overhead, liabilities, etc. you face. so...this probably won't be anything new for you! ok...
When you get an option on the property, there is more than one way to close the deal.
Here's what we do: We close on the house, exercising our option. We then, in another room, 2 minutes away (or in the same room) sign the paperwork to sell the house to the new buyer. this is called a simultaneous closing.
There is another way to do this too, and it has to do with "converting" the option to a lien (like a 2nd or 3rd mortgage type deal) on the property and basically, assigning the option to the new buyer and when they close, your lien is paid off (what your expected profit is is the lien amt) at closing and it's shown on the HUD-1 as a lien to satisfy prior to closing.
I don't go to closings unless I have to, and it's been some time since then. I have the paperwork emailed to Melody in my ofc, review it, sign it, have her notarize it and have her take it back to the title co or overnight it, depending on the location. On simultaneous closings, as in the example above, where you close on the purchase, then, turn and close on the sale, are done the same way...The title ofc records the purchase by me first, then the sale by me, second.
~Jerry
P.S. Still time to register for the Upcoming and Final Real Estate Boot Camp for Busy Dentists...See the link below. Time is short!
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Q: if i start with options [using to buy properties]: who sits during the closing, the owner and the buyer, since i don't really own the property? if so, does the owner then find out that i sold the property for a higher price?
A: Keep this in mind: You are in business to make money and it's ok that you make a lot of it. Never worry about what a new buyer might think, etc. as they have no earthly idea what you did or how much you may or may not have spent to get the property or get it in the shape it is in. most folks already think, as a dentist, that you get paid too much, not realizing the risks, overhead, liabilities, etc. you face. so...this probably won't be anything new for you! ok...
When you get an option on the property, there is more than one way to close the deal.
Here's what we do: We close on the house, exercising our option. We then, in another room, 2 minutes away (or in the same room) sign the paperwork to sell the house to the new buyer. this is called a simultaneous closing.
There is another way to do this too, and it has to do with "converting" the option to a lien (like a 2nd or 3rd mortgage type deal) on the property and basically, assigning the option to the new buyer and when they close, your lien is paid off (what your expected profit is is the lien amt) at closing and it's shown on the HUD-1 as a lien to satisfy prior to closing.
I don't go to closings unless I have to, and it's been some time since then. I have the paperwork emailed to Melody in my ofc, review it, sign it, have her notarize it and have her take it back to the title co or overnight it, depending on the location. On simultaneous closings, as in the example above, where you close on the purchase, then, turn and close on the sale, are done the same way...The title ofc records the purchase by me first, then the sale by me, second.
~Jerry
P.S. Still time to register for the Upcoming and Final Real Estate Boot Camp for Busy Dentists...See the link below. Time is short!
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Thursday, November 1, 2007
Hillary in 2008?
I pose some very provocative questions in today's BLOG post...about real estate investing and your future should Hillary be successful for her bid for the Presidency...Ugly questions, but certainly necessary...Best, Jerry
A remembrance...Dr. Eugene Chrowl
I'll keep this post short and sweet. The United States Dental Community (and it's a small, tight-knit one as we all know) has lost one of its own: Dr. Eugene Chrowl of Klamath Falls, Oregon.
Dr. Chrowl has been a loyal client of mine for close to five years and was a one of my Commercial Property & Raw Land Look-Over-The-Shoulder members.
He will be missed by his family and loyal patients.
Our sincerest condolences to Dr. Chrowl's family...
~Jerry
Dr. Chrowl has been a loyal client of mine for close to five years and was a one of my Commercial Property & Raw Land Look-Over-The-Shoulder members.
He will be missed by his family and loyal patients.
Our sincerest condolences to Dr. Chrowl's family...
~Jerry
Monday, October 22, 2007
Impt Call Tomorrow! Video tells all!
Hi Guys,
Late last week I sent an email to you about Dr. Larry Litman. His personal video testimony and personal message to you was about getting involved, today, in real estate investing. I just got off the phone with his son, David. After a quick exchange of niceties, David exclaimed, "I'm going to be putting my kid in Gold Diapers!" You see, he was on his way to yet another closing for a property he just picked up days ago.
David and his Dad, Dr. Larry, will earn over $400,000 this year in the real estate foreclosure market.
Their primary trainer was none other than Ted Thomas.
Ted's my mentor as well, and I can't think of a better guy to get you educated, excited and informed about the incredible...
*PERFECT STORM*
in the foreclosure market!
Never has it been this easy to profit on foreclosures! Tomorrow, starting at 9AM PST (NOON EST) Ted, myself and David Litman will take you through, step-by-step in under 60-minutes how to create very large and lucrative pay days...that could very well
dwarf your dental practice income in a matter of months!
So...I'm inviting you to join me tomorrow at 9AM PST (12 noon EST). There's no charge from me for the call and regular long distance rates apply.
Here's the call-in information:
212-786-7191
Then, enter 3628712# and you will be connected.
I hope to see you on tomorrow's call so you can learn these incredible secrets and begin profiting from foreclosures! Until then,
~Jerry
P.S. Again, the call-in number is 212-786-7191 and then enter 3628712#
to get connected!
Sunday, October 21, 2007
Residential Deals...Friday's Activity
Oct 19 proved to be a busy day.
Tom and I held one auction to sell a house we had an option on. We ended the auction early with an offer we couldn't refuse. We signed the purchase and sales agreement, took a non-refundable EM deposit and opened escrow. Net Profit: Approx $17,500. Should close in the next 2 to 3 weeks, barring any snags...which you just never know!
After that, we visited with a couple needing a quick sale on their home for a variety of reasons. This turned out to be our 3rd visit to their home, never spending longer than about 30 minutes each time. After signing the purchase and sales agreement, Tom and I wrapped up our afternoon celebrating a good $60,000 to $70,000 potential profit Friday.
This evening, I am working on the last few updates for the October LOS issue. After that's wrapped on Monday or Tuesday, I'll start the Real Estate Investing Letter and from there, it'll be about time to head to Orlando for the 3rd Real Estate Boot Camp for Busy Dentists...
Hope to see you there! Best, Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Tom and I held one auction to sell a house we had an option on. We ended the auction early with an offer we couldn't refuse. We signed the purchase and sales agreement, took a non-refundable EM deposit and opened escrow. Net Profit: Approx $17,500. Should close in the next 2 to 3 weeks, barring any snags...which you just never know!
After that, we visited with a couple needing a quick sale on their home for a variety of reasons. This turned out to be our 3rd visit to their home, never spending longer than about 30 minutes each time. After signing the purchase and sales agreement, Tom and I wrapped up our afternoon celebrating a good $60,000 to $70,000 potential profit Friday.
This evening, I am working on the last few updates for the October LOS issue. After that's wrapped on Monday or Tuesday, I'll start the Real Estate Investing Letter and from there, it'll be about time to head to Orlando for the 3rd Real Estate Boot Camp for Busy Dentists...
Hope to see you there! Best, Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Thursday, October 18, 2007
Personal Message from...Larry Litman, DDS
Hey everyone,
Usually it's me posting videos to the BLOG.
But today, it's different: a TREAT! (not a trick) with Real Estate Boot Camp Grad Dr. Larry Litman of Champaign, IL.
In Larry's own words, you'll hear about his successes in real estate investing this past year...
Click here to watch Larry's video:
http://www.viddler.com/explore/Litman/videos/2/
More info. of course available at www.RealEstateForBusyDentists.com
Best, Jerry
Usually it's me posting videos to the BLOG.
But today, it's different: a TREAT! (not a trick) with Real Estate Boot Camp Grad Dr. Larry Litman of Champaign, IL.
In Larry's own words, you'll hear about his successes in real estate investing this past year...
Click here to watch Larry's video:
http://www.viddler.com/explore/Litman/videos/2/
More info. of course available at www.RealEstateForBusyDentists.com
Best, Jerry
Saturday, October 13, 2007
57-yr Old DDS Asks for Advice...
Earlier this week I received an email from a 57-yr old Dentist looking to pump up his retirement. Here's what he wrote:
Jerry,
Would you mind answering a question for me?
I am a 57 year old DDS with a profit sharing/401k for myself and 4 employees. I have approx. $780,000 in my personal part of the plan. Is there a way for me to continue the plan at work but also open a Roth 401k, too? If I had an extra $30,000 a year (beyond my business PS/401k $) to invest, how would you recommend I invest it? Would I need to start another “entity?" I am interested in your Real estate info. as well.
Thanks,
Steve Smith, DDS
[name changed]
Hi Steve,
I'm no atty or CPA or tax-type adviser so I can only tell you what I would do were I you. Verify with the proper folks prior to engaging.
1) yes, create a new entity...An LLC perhaps that owns equipment and leases it to your dental ofc. EVEN if it's a few pieces of eqpt and there can be cash flow through the entity via your other entities to soup-up your accounts. That LLC can then apply for a Roth 401(k) via Equity Trust (www.trustetc.com).
2) I LOVE private lending secured with real estate where you can charge 3 points and 12 to 15% interest on top. My dad does a lot of this out of his IRAs and he does very well and we keep things pretty tight. I also do some with my IRAs as well. That total of 15 to 18% a year amounts to about 23 to 25% a year when you are turning your money over 2x a year!!! HUGE bucks!
3) Shoot me your physical addr, I will have Melody in my ofc send the info on the boot camp to you. You can also check it out online at www.RealEstateForBusyDentists.com and my BLOG at www.realestateforbusydentists.blogspot.com
Have a great week! Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Jerry,
Would you mind answering a question for me?
I am a 57 year old DDS with a profit sharing/401k for myself and 4 employees. I have approx. $780,000 in my personal part of the plan. Is there a way for me to continue the plan at work but also open a Roth 401k, too? If I had an extra $30,000 a year (beyond my business PS/401k $) to invest, how would you recommend I invest it? Would I need to start another “entity?" I am interested in your Real estate info. as well.
Thanks,
Steve Smith, DDS
[name changed]
Hi Steve,
I'm no atty or CPA or tax-type adviser so I can only tell you what I would do were I you. Verify with the proper folks prior to engaging.
1) yes, create a new entity...An LLC perhaps that owns equipment and leases it to your dental ofc. EVEN if it's a few pieces of eqpt and there can be cash flow through the entity via your other entities to soup-up your accounts. That LLC can then apply for a Roth 401(k) via Equity Trust (www.trustetc.com).
2) I LOVE private lending secured with real estate where you can charge 3 points and 12 to 15% interest on top. My dad does a lot of this out of his IRAs and he does very well and we keep things pretty tight. I also do some with my IRAs as well. That total of 15 to 18% a year amounts to about 23 to 25% a year when you are turning your money over 2x a year!!! HUGE bucks!
3) Shoot me your physical addr, I will have Melody in my ofc send the info on the boot camp to you. You can also check it out online at www.RealEstateForBusyDentists.com and my BLOG at www.realestateforbusydentists.blogspot.com
Have a great week! Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Thursday, October 11, 2007
Still MORE Success Stories!
Plus, don't forget: Friday, 12th of October @ 9AM PST... visit www.jerryjonesdirect.com/101207.pdf
Sunday, October 7, 2007
How to Beat Your Competition
These are MUST-HAVEs in ANY business.
Enjoy today's video blog.
Best, Jerry
Wednesday, October 3, 2007
High End Residential BOOM TIME?
This is a Counter-Intuitive post, for sure.
If you're a high-end home investor, or aspire to be one, this post is good news!
Best, Jerry
Tuesday, October 2, 2007
Results from the field...Even in a "SLOW" Market!
The media would have us all believe real estate is NOT a great deal or is dangerous to be involved in. My friend Dr. Jim McLaughlin risked a whopping $100 (oooh!) and cashed a check for close to $75,000! Learn more in today's video BLOG post!
See you in Orlando! (Nov 16-18) Call Melody in my ofc for more information and to register! 503-339-6000!
Go with your GUT.
I can't reiterate the importance of "going with your gut instinct" on deals.
An example: I had a meeting with a Seller some time back. We met over food (my favorite) and the sweat from his palm had barely evaporated from MY hand when he starts in on me.
There were few if any pleasantries.
I got a bad vibe right off the bat.
I sensed desperation, caution, misplaced accusations, and defensiveness.
My gut said, "Screw it."
In my mind, the deal died before I was even served my meal.
I can't accentuate (I love that word even though it's out of context here!) enough the importance of going with your gut. It's powerful. It's there for a reason.
Oh...and one more impt thought: LISTEN to you wife, too. She's about 99% right and that 1% is irrelevant. Trust me on that one. My wife's go the best intuition of anyone I've ever met...And it's dead-on.
Had I listened, I'd have made the IRS even happier this year.
Someone once said, "A smart man records and vows to never make the same mistake twice." A WISE man watches mistakes the smart man makes and never makes those mistakes, either.
Now...GO MAKE AN OFFER(TM)!
Best, Jerry
P.S. Congrats go out to my long-time friend, Dr. Jim McLaughlin! I'll post a video BLOG soon on just why he deserves it!!!
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
An example: I had a meeting with a Seller some time back. We met over food (my favorite) and the sweat from his palm had barely evaporated from MY hand when he starts in on me.
There were few if any pleasantries.
I got a bad vibe right off the bat.
I sensed desperation, caution, misplaced accusations, and defensiveness.
My gut said, "Screw it."
In my mind, the deal died before I was even served my meal.
I can't accentuate (I love that word even though it's out of context here!) enough the importance of going with your gut. It's powerful. It's there for a reason.
Oh...and one more impt thought: LISTEN to you wife, too. She's about 99% right and that 1% is irrelevant. Trust me on that one. My wife's go the best intuition of anyone I've ever met...And it's dead-on.
Had I listened, I'd have made the IRS even happier this year.
Someone once said, "A smart man records and vows to never make the same mistake twice." A WISE man watches mistakes the smart man makes and never makes those mistakes, either.
Now...GO MAKE AN OFFER(TM)!
Best, Jerry
P.S. Congrats go out to my long-time friend, Dr. Jim McLaughlin! I'll post a video BLOG soon on just why he deserves it!!!
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Monday, October 1, 2007
Inaugural VIDEO BLOG POST!!
Hey there Fellow RE Investors...
Check out the first video post. I can't believe it, but I AM really getting into this new media.
There's a special announcement WITH this video, so please, check it out ASAP!
Be patient...if your connection is SLLLLLOOOOOW, it might take a min or two to load up!
SEE ya soon, Jerry
PS You'll notice I'm no 3-piece suit dude. Nope...This is just what I wear...
Sunday, September 30, 2007
Video Blogging...Coming Soon!
Just a heads-up. I've been testing a really cool BLOG tool that will allow me to post
a video BLOG.
I'll let you know as soon as it's operational and the first one has been posted!
This should be cool!
Oh...Gotta have a tip here, too, about real estate:
If you find yourself TRYING to make a deal work, go back and ask yourself, "Is this a MOTIVATED Seller/Buyer?"
If they are not motivated, sometimes, it's just easier to WHACK 'em (as Ron says) and move on!
They'll piss you off, steal your dreams and annoy the crap out of you.
YOU are in the driver's seat. YOU don't need to buy, so go find another, more motivated seller.
If you are SELLING, keep in mind, always, you should avoid situations of desperation. THAT happens when you buy wrong using YOUR money and paying too much.
OK..."see" ya soon...Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
a video BLOG.
I'll let you know as soon as it's operational and the first one has been posted!
This should be cool!
Oh...Gotta have a tip here, too, about real estate:
If you find yourself TRYING to make a deal work, go back and ask yourself, "Is this a MOTIVATED Seller/Buyer?"
If they are not motivated, sometimes, it's just easier to WHACK 'em (as Ron says) and move on!
They'll piss you off, steal your dreams and annoy the crap out of you.
YOU are in the driver's seat. YOU don't need to buy, so go find another, more motivated seller.
If you are SELLING, keep in mind, always, you should avoid situations of desperation. THAT happens when you buy wrong using YOUR money and paying too much.
OK..."see" ya soon...Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Monday, September 24, 2007
Follow-up...and a PLUG for my friend Darin
Today, again, for the 900th time, follow-up proved to be the KEY to getting a deal done.
Here's the scenario: out of town owner I had reached via a mailing (YELLOW LETTER - and if you want info, email me and I will send it to you...KILLER way to get calls from out of town owners!) had agreed to an option on her property. It's a wholesale deal and probably close to $30,000 in repairs and Tom, Kevin and I aren't equipped for rehabs - we're into getting in and out quickly and leaving profit in the deal for the guys doing rehabs...There's $20k in profit from just our part of it.
I called her, reminded her what we're doing, what she'd agreed to and the very next day...an overnight letter shows via DHL with a signed option agreement.
Good as COLD, HARD CASH.
Had I not followed up with her and just gently nudged her along (no sledge hammer needed), who knows WHEN or IF the deal would have come through.
Anyway - 'nuff for now.
A quick plug here for my apartment and commercial property bud, Darin Garman. If you're NOT a member of his CIPOA, then visit www.garmanupdate.com and get more info. It's a no-brainer.
Darin has facilitated over a dozen units for me personally, to buy, this past year.
Check it out. Tell him I sent you. I don't get a commish or kickback...just good advice from one solo entrepreneur to another. Just do it!
In the next couple days, I have to make a trip to the coast for family reasons, but while there, I'll be looking into a property that's a full city block, across from a major development (think medical) where the owner's in deep and needs a life raft from his sinking ship.
My best to you and...Go Make An Offer!(TM)
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Here's the scenario: out of town owner I had reached via a mailing (YELLOW LETTER - and if you want info, email me and I will send it to you...KILLER way to get calls from out of town owners!) had agreed to an option on her property. It's a wholesale deal and probably close to $30,000 in repairs and Tom, Kevin and I aren't equipped for rehabs - we're into getting in and out quickly and leaving profit in the deal for the guys doing rehabs...There's $20k in profit from just our part of it.
I called her, reminded her what we're doing, what she'd agreed to and the very next day...an overnight letter shows via DHL with a signed option agreement.
Good as COLD, HARD CASH.
Had I not followed up with her and just gently nudged her along (no sledge hammer needed), who knows WHEN or IF the deal would have come through.
Anyway - 'nuff for now.
A quick plug here for my apartment and commercial property bud, Darin Garman. If you're NOT a member of his CIPOA, then visit www.garmanupdate.com and get more info. It's a no-brainer.
Darin has facilitated over a dozen units for me personally, to buy, this past year.
Check it out. Tell him I sent you. I don't get a commish or kickback...just good advice from one solo entrepreneur to another. Just do it!
In the next couple days, I have to make a trip to the coast for family reasons, but while there, I'll be looking into a property that's a full city block, across from a major development (think medical) where the owner's in deep and needs a life raft from his sinking ship.
My best to you and...Go Make An Offer!(TM)
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Saturday, September 8, 2007
How to get more deals done quicker.
Yesterday afternoon I came home to what I thought would be a full house. Nothing doing. Empty.
Occasionally I get the chance to just grab a frosty cold one out of my garage fridge and walk around my property with my dog, Ruby (she’s a JackShitPoodle – Jack Russell, Shitzu & Poodle and cute and happy as can be).
The weather was perfect – 75 or 80 degrees. Slight breeze. Clear Sky. Visibility was about 10 miles or so down onto the valley and over to the evergreen coast range. A picture-perfect day.
So Ruby and I just strolled around. The frosty one disappeared quickly; and I had an idea pop into my head at almost that very moment: How I could DOUBLE/TRIPLE the number of residential AND commercial deals I am doing, now, in a matter of days, weeks at the most.
It wasn’t just optioning everything I found (but, options are I think, the best tool in a real estate investor’s arsenal). It wasn’t hiring 2 or 3 more employees (I have enough and via the dental assisting school, just took on 4 more!).
It WAS one of those situations where the answer had been in front of me for a long time.
You’ve heard me talk about my former college room mate and good friend and broker on deals, Kevin, right?
Well, my thought was this: What if Kevin was RIGHT HERE, in TOWN and able to work with Tom and I on an everyday basis?
Could we get MORE or FEWER deals done?
Duh. The answer was as clear as a boring old Lager (I like IPAs if you’re into craft beers).
OF COURSE.
So, after a quick call to Tom to find out his opinion, I discovered he was completely on board, I called Kevin and asked him to thank about it, over this weekend, to see what in fact he REALLY thought of the whole deal: moving 2 kids and family about 3 hrs north…
Time will tell and I hope to talk to him Monday…
There are 2 lessons here: RELAX once in a while and your mind will clear up and cool ideas will come to you. Next, look around and think about WHO you could bring into your investing organization to help you hit your goals FASTER and in turn, bringing them up the ladder with you – the old helping others get what they want deal…It’s AWESOME!
Some updates: Registrations for the real estate boot camp are starting to really pour in. We’ll hit capacity for sure, so don’t delay if you have plans to attend (can’t understand why not? It’s going to be a killer 3-day event!)
The first issue of the Real Estate Investing Letter hit the streets last week. Sub info is available by emailing Melody in my office: melody@jerryjonesdirect.com.
Talk to you soon…
P.S. Here's a cool pic of Ron LeGrand(R) and I up at his lodge in Ketchikan, AK just a couple weeks ago. A nice Halibut for sure. If you love to fish and you'd like to try out Alaskan-Style fishing, here are two places I can't recommend enough: www.salmonfallsresort.com and my favorite brother's adventures: www.ThunderMountainanglers.com
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Tuesday, August 28, 2007
No Deal...The 60
Well, since the Seller sent me his reply to my original offer and "accepted" it by signing in the right spot for me, wrong spot for him, he has not replied to any of the efforts of his broker he hired to sell the property for him. Tells me he is not really motivated. And, I may want to just move on to the next deal.
Lots happening this week: Partner and I closed on one of our Subject To houses on in North Salem - Repairs there ended up being about $1000 vs. the $4000 we had budgeted for and had bids for. That's ALWAYS a nice surprise. The net on that property, if the seller's cash out in the next year, will be close to $19,000. Tom estimated he has about 9 hours. I have about that as well. That's about a grand an hour. OK, not bad.
I will be going over this deal IN DETAIL at the upcoming event in November. Can't WAIT!
We have two properties we should have under contract here in Salem and about a 30-min drive out of town in a quaint little town called Mt Angel. More to come on that. They replied to our marketing efforts - letters.
Here's some killer advice: REVIEW craigslist.com and see what's for sale in your area. I found SEVERAL properties last night in about a half hour of searching, where I have started dialogs with 3 sellers and 1 seller of a multi-lot subdivision (17 lots) which I am meeting next week.
The economic shift with the mortgage industry/lending problems has begun to shake things up. We've not seen the last and I am sure, there's more fun ahead!
Tomorrow morning, at 9AM PST, I am interviewing Ron LeGrand(R) and Ted Thomass(TM) on a preview Teleseminar. You're welcome to join.
Here's the call-in info:
Phone: (212) 786-7191
Passcode: 3628712#
Time: 9AM PST, NOON EST
Date: August 29th, 2007
Have a killer week and great Labor Day Weekend! Enjoy the summer - it's getting away quickly!
~Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Lots happening this week: Partner and I closed on one of our Subject To houses on in North Salem - Repairs there ended up being about $1000 vs. the $4000 we had budgeted for and had bids for. That's ALWAYS a nice surprise. The net on that property, if the seller's cash out in the next year, will be close to $19,000. Tom estimated he has about 9 hours. I have about that as well. That's about a grand an hour. OK, not bad.
I will be going over this deal IN DETAIL at the upcoming event in November. Can't WAIT!
We have two properties we should have under contract here in Salem and about a 30-min drive out of town in a quaint little town called Mt Angel. More to come on that. They replied to our marketing efforts - letters.
Here's some killer advice: REVIEW craigslist.com and see what's for sale in your area. I found SEVERAL properties last night in about a half hour of searching, where I have started dialogs with 3 sellers and 1 seller of a multi-lot subdivision (17 lots) which I am meeting next week.
The economic shift with the mortgage industry/lending problems has begun to shake things up. We've not seen the last and I am sure, there's more fun ahead!
Tomorrow morning, at 9AM PST, I am interviewing Ron LeGrand(R) and Ted Thomass(TM) on a preview Teleseminar. You're welcome to join.
Here's the call-in info:
Phone: (212) 786-7191
Passcode: 3628712#
Time: 9AM PST, NOON EST
Date: August 29th, 2007
Have a killer week and great Labor Day Weekend! Enjoy the summer - it's getting away quickly!
~Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Monday, August 20, 2007
Finally...
Some of you have asked me about an intermediate-type newsletter - a step below the LOS Program - to help get your real estate investing business started, particularly in the residential marketplace. I am happy to report I have FINALLY finished the draft of the very first issue!!
If you'd like more information on the brand-new THE REAL ESTATE INVESTING LETTER(tm), drop me an email at jerry@jerryjonesdirect.com. I will send you a brief intro and ordering information.
If my Look-Over-the-Shoulder program is of interest, contact Melody in my office @ 503-339-6000. She would be happy to supply additional info!
Watch the BLOG this week. Good chance I will have an update on the 60 acre deal I reported on earlier, where the Seller screwed up in giving me a completed sales agmt.
Until then...Have a great week, Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
If you'd like more information on the brand-new THE REAL ESTATE INVESTING LETTER(tm), drop me an email at jerry@jerryjonesdirect.com. I will send you a brief intro and ordering information.
If my Look-Over-the-Shoulder program is of interest, contact Melody in my office @ 503-339-6000. She would be happy to supply additional info!
Watch the BLOG this week. Good chance I will have an update on the 60 acre deal I reported on earlier, where the Seller screwed up in giving me a completed sales agmt.
Until then...Have a great week, Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Friday, August 17, 2007
A Jet, Dentists & Better-than-Trump
Those of you getting the BLOG notifications via email will have already gotten this, or, perhaps the filters picked it up? If they did, here it is again. I'd like to invite my casual BLOG readers, too.
You don't get a chance like this very often so when you do, common sense would tell you: BE AVAILABLE!
Anyway...read below and you'll see what I am talking about!!
Enjoy your weekend...More to come, next week. It's heating up EVERYWHERE.
~Jerry
==============================================
From: jerry@jerryjonesdirect.com
Subject: Trump, a Jet and Dentists…What?
Date: August 17, 2007 11:15:08 AM PDT
To: jerry@jerryjonesdirect.com
Hi Jerry here.
Can you do me a favor? Pull out your calendar for August 29th and
look to see if you have 9AM PST (noon EST) available for about 60
minutes.
Why? Glad you asked.
This 60 minutes could (if you choose) affect your 2008 so
dramatically, you'll barely recognize 2007 and it could very well
be the last year of your life you are *forced* or have to practice
as a Dentist and earn a Dentist's income (nothing wrong with it,
but, hey, we can all use and invest more, right?)
Don't get me wrong. Dentistry has been and is good to me (I know, I
have a dental office my SofTouch Dental operates that I am lookin'
at right out the window). BUT, I'm not the fella that has to
practice it for a living. I just heard from a client and his direct
quote was, "...after 20+ years of doing dentistry my neck and back
have had enough!"
Look, it's not often you get to ask ANY question you want of a guy
that has a Gulfstream Jet, does what Trump does (only in my humble
opinion, BETTER than Trump) and has a monthly income in a month
(and sometimes in a day) most of us "high income Americans in the
top 1%" make in a year.
You've heard the saying, "If you want to be wealthy, do what
wealthy people do and get involved with them." You're not going to
get to the next level hangin' with the people that are below are at
the level you're at. PERIOD.
That said, I've asked my friend Ron LeGrand® (the guy with the Jet)
to spend SIXTY minutes (I can't tell you how much that'd cost if I
wanted it all for myself!) with YOU, ME and ANYONE else that wants
to join me for this once-in-a-lifetime call.
I'll send more details later, as in a day or two, but I wanted you
to quickly clear your schedule NOW so you could be sure to be
available .
This is a no-cost, no-charge call. A gift from me to you. More to
come. But, do clear out that hour, now. It'll be the best hour
you'll spend on the phone...ALL YEAR. I guarantee it. (If it's not,
you just let me know and I'll send you a $100 Starbucks Card for
your trouble...SERIOUSLY).
OK...talk to you soon. Have a good weekend, Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
You don't get a chance like this very often so when you do, common sense would tell you: BE AVAILABLE!
Anyway...read below and you'll see what I am talking about!!
Enjoy your weekend...More to come, next week. It's heating up EVERYWHERE.
~Jerry
==============================================
From: jerry@jerryjonesdirect.com
Subject: Trump, a Jet and Dentists…What?
Date: August 17, 2007 11:15:08 AM PDT
To: jerry@jerryjonesdirect.com
Hi Jerry here.
Can you do me a favor? Pull out your calendar for August 29th and
look to see if you have 9AM PST (noon EST) available for about 60
minutes.
Why? Glad you asked.
This 60 minutes could (if you choose) affect your 2008 so
dramatically, you'll barely recognize 2007 and it could very well
be the last year of your life you are *forced* or have to practice
as a Dentist and earn a Dentist's income (nothing wrong with it,
but, hey, we can all use and invest more, right?)
Don't get me wrong. Dentistry has been and is good to me (I know, I
have a dental office my SofTouch Dental operates that I am lookin'
at right out the window). BUT, I'm not the fella that has to
practice it for a living. I just heard from a client and his direct
quote was, "...after 20+ years of doing dentistry my neck and back
have had enough!"
Look, it's not often you get to ask ANY question you want of a guy
that has a Gulfstream Jet, does what Trump does (only in my humble
opinion, BETTER than Trump) and has a monthly income in a month
(and sometimes in a day) most of us "high income Americans in the
top 1%" make in a year.
You've heard the saying, "If you want to be wealthy, do what
wealthy people do and get involved with them." You're not going to
get to the next level hangin' with the people that are below are at
the level you're at. PERIOD.
That said, I've asked my friend Ron LeGrand® (the guy with the Jet)
to spend SIXTY minutes (I can't tell you how much that'd cost if I
wanted it all for myself!) with YOU, ME and ANYONE else that wants
to join me for this once-in-a-lifetime call.
I'll send more details later, as in a day or two, but I wanted you
to quickly clear your schedule NOW so you could be sure to be
available .
This is a no-cost, no-charge call. A gift from me to you. More to
come. But, do clear out that hour, now. It'll be the best hour
you'll spend on the phone...ALL YEAR. I guarantee it. (If it's not,
you just let me know and I'll send you a $100 Starbucks Card for
your trouble...SERIOUSLY).
OK...talk to you soon. Have a good weekend, Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Wednesday, August 15, 2007
A Pro's Mistake? What Would YOU Do?
Depending on how you answer the question I am about to pose, will tell me what kind of person you are.
Just yesterday, I reviewed a P&S (purchase and sales) agmt. It was a counter-offer I rec'd back from a Seller.
On the 2nd to the last page, this Seller made a grave error. One that could really have cost him dearly.
He made it. It could've been HIS hard-learned lesson (and I am sure his broker would have been named in a lawsuit by him, so she is on the hook for potentially screwing up, too). But, I don't do business that way.
I made an offer on 65 acres. My offer was essentially half down and half in two yrs with an owner carry 2nd, essentially allowing me to get into the property for no money. [If you don't get what I just said, do yourself a favor and register for the upcoming boot camp in Orlando - Info at the site listed below.]
He initialed all pages which is req'd on Oregon RE forms used by brokers.
Then, on the last page, he also signed in the area stating that he accepted my offer. THEN, his broker, submitted a signed page to my broker, Kevin, with a counter.
See the issue?
He ACCEPTED my offer.
Legally, he's on the hook to sell it to me for what I offered. All I needed to do was send my EM (earnest money) in to Kevin and it's a done deal.
Now, he or his atty (trust me, it would have gotten to that point) would have argued INTENT - his INTENT was to counter. He made an honest mistake.
MY atty would have said, "Too bad. He's a seasoned investor familiar with contracts and so on. TOUGH."
What would you have done?
You get an idea of what I am doing, right?
I do unto others...you know.
More to come when I get the latest, which should be later today or this week before Friday.
Best, Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Just yesterday, I reviewed a P&S (purchase and sales) agmt. It was a counter-offer I rec'd back from a Seller.
On the 2nd to the last page, this Seller made a grave error. One that could really have cost him dearly.
He made it. It could've been HIS hard-learned lesson (and I am sure his broker would have been named in a lawsuit by him, so she is on the hook for potentially screwing up, too). But, I don't do business that way.
I made an offer on 65 acres. My offer was essentially half down and half in two yrs with an owner carry 2nd, essentially allowing me to get into the property for no money. [If you don't get what I just said, do yourself a favor and register for the upcoming boot camp in Orlando - Info at the site listed below.]
He initialed all pages which is req'd on Oregon RE forms used by brokers.
Then, on the last page, he also signed in the area stating that he accepted my offer. THEN, his broker, submitted a signed page to my broker, Kevin, with a counter.
See the issue?
He ACCEPTED my offer.
Legally, he's on the hook to sell it to me for what I offered. All I needed to do was send my EM (earnest money) in to Kevin and it's a done deal.
Now, he or his atty (trust me, it would have gotten to that point) would have argued INTENT - his INTENT was to counter. He made an honest mistake.
MY atty would have said, "Too bad. He's a seasoned investor familiar with contracts and so on. TOUGH."
What would you have done?
You get an idea of what I am doing, right?
I do unto others...you know.
More to come when I get the latest, which should be later today or this week before Friday.
Best, Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Monday, July 30, 2007
Dr. Larry Litman Unplugged!
Dr. Larry Litman's a “classic” success story. Not just him, but his entire family! Sons David, Michael and wonderful wife Gail all share in the glory of their family real estate investing business.
In fact, I see the day in the not-so-distant future when Larry will sell his Champaign, IL dental practice and do real estate full-time. I mean, why not?
It all started back in December 2005 (sounds like a long time ago, but in reality, just 19 months back!), Larry and Gail attended my first Real Estate Boot Camp for Busy Dentists. I remember them well. They sat in the back of the room which, for 3-days, held about 200 people.
I have to admit: 3-days in a chair CAN give you a numb butt. But, what Larry and Gail walked away with changed the course of their lives forever. So much so, that BOTH sons, both highly educated off-spring, are now working with them to build an incredible real estate empire.
David – Has his MBA. QUIT a $200+ grand a year J.O.B. to get involved.
Michael – Ph.D. in Computer Science. Teacher at an IL university. Hasn’t quit his job, but what he did do was create the most incredible deal tracking system I’ve seen for operating a business in the foreclosure niche. Learn more here: www.trackyourdreams.com.
OK, so now on to Larry & David’s trip that wraps up today in Juneau, AK courtesy of my company (for winning the 2006 Deal Contest) and my brother’s, www.ThunderMountainAnglers.com.
Here’s the email I picked up just a day or so ago…
Jerry,
Dave and I got into Juneau last night. We meet Brian, Andy, and Jason at the Travelodge. Yes, Brian is better looking than you! We plan on meeting Brian later today. Fishing early tomorrow and just maybe we will see whales. We went to Mendenhall Glacier today and had a blast. The weather was great and we had a free private tour with a young lady named Amy who works for the national park. We saw bears, salmon, and all sorts of plants while we did our private hike. On the way to the Glacier we stopped at your brother’s house to see the boat. We did notice your boat was for sale. If we paid all cash and could close quickly what would you be willing to sell your boat for? Jerry, if you want to sell that boat quickly you might consider a real ugly sign with every other word misspelled or something. Just a thought. We will keep you posted on our great adventure. Larry
Just to clarify, Larry, I think I am better looking than MY brother… But hey, that’s my opinion.
It’s crazy where Real Estate can take you!!
And to prove just how much fun Larry and David are having:
Jerry,
Today is my last full day in Juneau. The weather was beautiful the last 3 days but a little rainy today. Dave plans to walk the old man (me) until I drop. I think he wants me to hike up Mt. Roberts because there is no way Dave is paying $25 for the tram ride. Also, we are going to visit all the sites downtown as well. Brian was great and the experience is something that I will remember forever. We caught a load of fish, saw Whales, Eagles, Bears, and even a [famous, local] shipwreck! Brian put on a show when he bit the head off a live herring (I have pictures). Brian's knowledge of the area is unbelievable and the dinner he prepared for us last night was awesome. Of course I needed to pick up mass quantities of Beef to go along with the fish. Surf and Turf! Brian is preparing all the fish for us to take back home and I'm bringing over a wet box tonight for him to pack This adventure was the best, so thanks again for everything. Larry
I have to give you some background on why Brian, MY brother is biting the heads off fish. No, he’s not Ozzy Osbourne.
Brian’s hard-core. Everything he does and goes after well, is done full-tilt. He’s passionate, enjoys entertaining and if he can be on a boat fishing, there’s nothing better. So his charter and eco-tour business is a perfect fit for everything that is BRIAN.
Back when we were kids – he was probably 15 and I was 11 or 12 – we’d just returned from a trip to the Columbia River where we dipped (netted) a couple of 5-gallon buckets of a small, migratory bait fish called smelt.
Brian’s friend Mark bet him: “I bet you too scared to bite the head off that fish.”
Brian’s not afraid of anything the last time I checked…So, guess what? Yeah, he bit the head off the smelt (it was long since expired).
So I am sure one of his friends in Juneau was telling that story and Larry or David…well, bet him he wouldn’t do it.
So there’s the background.
Now, on to business – I’d like YOU to be the next guy I sent to Juneau fishing on board Thunder Mountain Anglers. But you can’t go on my dime unless you submit a real estate deal and meet the other various contest qualifications. If you’d like info, send me an email (jerry@jerryjonesdirect.com) and I’ll post the rules for ya.
Meanwhile…The MALL DEAL may just very well be coming back alive. I will update you soon, likely in the next 7 days.
Now…Go Make an Offer™! ~Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
In fact, I see the day in the not-so-distant future when Larry will sell his Champaign, IL dental practice and do real estate full-time. I mean, why not?
It all started back in December 2005 (sounds like a long time ago, but in reality, just 19 months back!), Larry and Gail attended my first Real Estate Boot Camp for Busy Dentists. I remember them well. They sat in the back of the room which, for 3-days, held about 200 people.
I have to admit: 3-days in a chair CAN give you a numb butt. But, what Larry and Gail walked away with changed the course of their lives forever. So much so, that BOTH sons, both highly educated off-spring, are now working with them to build an incredible real estate empire.
David – Has his MBA. QUIT a $200+ grand a year J.O.B. to get involved.
Michael – Ph.D. in Computer Science. Teacher at an IL university. Hasn’t quit his job, but what he did do was create the most incredible deal tracking system I’ve seen for operating a business in the foreclosure niche. Learn more here: www.trackyourdreams.com.
OK, so now on to Larry & David’s trip that wraps up today in Juneau, AK courtesy of my company (for winning the 2006 Deal Contest) and my brother’s, www.ThunderMountainAnglers.com.
Here’s the email I picked up just a day or so ago…
Jerry,
Dave and I got into Juneau last night. We meet Brian, Andy, and Jason at the Travelodge. Yes, Brian is better looking than you! We plan on meeting Brian later today. Fishing early tomorrow and just maybe we will see whales. We went to Mendenhall Glacier today and had a blast. The weather was great and we had a free private tour with a young lady named Amy who works for the national park. We saw bears, salmon, and all sorts of plants while we did our private hike. On the way to the Glacier we stopped at your brother’s house to see the boat. We did notice your boat was for sale. If we paid all cash and could close quickly what would you be willing to sell your boat for? Jerry, if you want to sell that boat quickly you might consider a real ugly sign with every other word misspelled or something. Just a thought. We will keep you posted on our great adventure. Larry
Just to clarify, Larry, I think I am better looking than MY brother… But hey, that’s my opinion.
It’s crazy where Real Estate can take you!!
And to prove just how much fun Larry and David are having:
Jerry,
Today is my last full day in Juneau. The weather was beautiful the last 3 days but a little rainy today. Dave plans to walk the old man (me) until I drop. I think he wants me to hike up Mt. Roberts because there is no way Dave is paying $25 for the tram ride. Also, we are going to visit all the sites downtown as well. Brian was great and the experience is something that I will remember forever. We caught a load of fish, saw Whales, Eagles, Bears, and even a [famous, local] shipwreck! Brian put on a show when he bit the head off a live herring (I have pictures). Brian's knowledge of the area is unbelievable and the dinner he prepared for us last night was awesome. Of course I needed to pick up mass quantities of Beef to go along with the fish. Surf and Turf! Brian is preparing all the fish for us to take back home and I'm bringing over a wet box tonight for him to pack This adventure was the best, so thanks again for everything. Larry
I have to give you some background on why Brian, MY brother is biting the heads off fish. No, he’s not Ozzy Osbourne.
Brian’s hard-core. Everything he does and goes after well, is done full-tilt. He’s passionate, enjoys entertaining and if he can be on a boat fishing, there’s nothing better. So his charter and eco-tour business is a perfect fit for everything that is BRIAN.
Back when we were kids – he was probably 15 and I was 11 or 12 – we’d just returned from a trip to the Columbia River where we dipped (netted) a couple of 5-gallon buckets of a small, migratory bait fish called smelt.
Brian’s friend Mark bet him: “I bet you too scared to bite the head off that fish.”
Brian’s not afraid of anything the last time I checked…So, guess what? Yeah, he bit the head off the smelt (it was long since expired).
So I am sure one of his friends in Juneau was telling that story and Larry or David…well, bet him he wouldn’t do it.
So there’s the background.
Now, on to business – I’d like YOU to be the next guy I sent to Juneau fishing on board Thunder Mountain Anglers. But you can’t go on my dime unless you submit a real estate deal and meet the other various contest qualifications. If you’d like info, send me an email (jerry@jerryjonesdirect.com) and I’ll post the rules for ya.
Meanwhile…The MALL DEAL may just very well be coming back alive. I will update you soon, likely in the next 7 days.
Now…Go Make an Offer™! ~Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Wednesday, July 25, 2007
Watch those JV/LLC-type Agreements!
At some point in time you will enter into an agreement via Joint Venture or perhaps and LLC. What you need to know your lawyer will tell you, but, there is no better teacher than experience. I ignored my wife (she's not an atty, but there's not one that could ever win an argument with her!) and it's cost me dearly.
I can't share many details, in fact, none, but for now, I have 2 suggestions, and at some later point, perhaps I'll go into more detail on what to avoid.
#1: When you enter into business with someone, whether through a Joint Venture or perhaps an LLC, make DARN sure you understand WHO you are dealing with in every way - in short, you're going to be legally married without the benefits and with all the hardships that can come with marriage. Again, I will give examples some day, but not here, now. Suffice it to say that this lesson, in 2007, will cost me close to $80,000 on one deal and I don't know, we'll see, but perhaps close to $1,250,000 on another. Ok, Ok, I got it!
#2: When you HIRE a broker or real estate agent, make sure you are comfortable with them, their abilities and make sure you keep and stick to deadlines and they do the same. A contract is a contract for a reason. They are not meant to be broken by either side. If it is, it's null/void. Period.
OK...Like any business, real estate has its warts. I've said that once and I'll say it many more times - BUT, you get paid very well to handle them and deal with them.
That part I like. More to come in a few days.
Now, Go Make an Offer(TM)!
~Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
I can't share many details, in fact, none, but for now, I have 2 suggestions, and at some later point, perhaps I'll go into more detail on what to avoid.
#1: When you enter into business with someone, whether through a Joint Venture or perhaps an LLC, make DARN sure you understand WHO you are dealing with in every way - in short, you're going to be legally married without the benefits and with all the hardships that can come with marriage. Again, I will give examples some day, but not here, now. Suffice it to say that this lesson, in 2007, will cost me close to $80,000 on one deal and I don't know, we'll see, but perhaps close to $1,250,000 on another. Ok, Ok, I got it!
#2: When you HIRE a broker or real estate agent, make sure you are comfortable with them, their abilities and make sure you keep and stick to deadlines and they do the same. A contract is a contract for a reason. They are not meant to be broken by either side. If it is, it's null/void. Period.
OK...Like any business, real estate has its warts. I've said that once and I'll say it many more times - BUT, you get paid very well to handle them and deal with them.
That part I like. More to come in a few days.
Now, Go Make an Offer(TM)!
~Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Sunday, July 8, 2007
Contracts...and what to watch out for!
I was reviewing a contract earlier this evening for a purchase on a 6-unit apartment building.
As I was plugging through each single sentence carefully weighing each word, I was reminded how the very definition of words really come into play in contracts. What I mean by that is simply this: You have to understand not just the definition of each word IN a legal contract, you also have to understand the complexities of context and the inter-relationships each paragraph and sentence can have to subsequent or previous paragraphs.
Sometimes you can find yourself weaving through a real tough mess.
This is precisely why it is valuable and worth the few hundred bucks you'll pay an expert real estate attorney to review a contract and give suggestions for changes in your better interest prior to signing.
Some cheap advice I learned via the ol' school of hard knocks: Hire an atty to review your contracts. Hire an atty to prepare contracts specifically for YOUR use if and when you are the seller. Typically, you won't get a seller to agree to use your contract. And, if that is the case, use a standard form real estate agency contract specifically for the type of transaction you are doing.
In Oregon for instance, they have a standard form for Raw/Bare Land and it differs greatly from a Commercial Property Sales contract.
If you're a subscriber/member of my Look-Over-The-Shoulder Program, you'll be getting copies this month of this 6-unit apartment contract with my notes and cautions to look out for when reviewing contracts.
Anyway, time to hit the sack...Long day tomorrow and still recovering from the hot sunshine, cold water and over indulgence in rib-eye steaks and a real nice beer from Mexico - perhaps you've heard of it? Pacifico with a slice of lime? It's ALMOST as good as my all-time fav Alaskan IPA from the Alaskan Brewery in Juneau...
I digress.
Have a good one..Now, GO make an OFFER!
~Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
As I was plugging through each single sentence carefully weighing each word, I was reminded how the very definition of words really come into play in contracts. What I mean by that is simply this: You have to understand not just the definition of each word IN a legal contract, you also have to understand the complexities of context and the inter-relationships each paragraph and sentence can have to subsequent or previous paragraphs.
Sometimes you can find yourself weaving through a real tough mess.
This is precisely why it is valuable and worth the few hundred bucks you'll pay an expert real estate attorney to review a contract and give suggestions for changes in your better interest prior to signing.
Some cheap advice I learned via the ol' school of hard knocks: Hire an atty to review your contracts. Hire an atty to prepare contracts specifically for YOUR use if and when you are the seller. Typically, you won't get a seller to agree to use your contract. And, if that is the case, use a standard form real estate agency contract specifically for the type of transaction you are doing.
In Oregon for instance, they have a standard form for Raw/Bare Land and it differs greatly from a Commercial Property Sales contract.
If you're a subscriber/member of my Look-Over-The-Shoulder Program, you'll be getting copies this month of this 6-unit apartment contract with my notes and cautions to look out for when reviewing contracts.
Anyway, time to hit the sack...Long day tomorrow and still recovering from the hot sunshine, cold water and over indulgence in rib-eye steaks and a real nice beer from Mexico - perhaps you've heard of it? Pacifico with a slice of lime? It's ALMOST as good as my all-time fav Alaskan IPA from the Alaskan Brewery in Juneau...
I digress.
Have a good one..Now, GO make an OFFER!
~Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Thursday, July 5, 2007
The Mall Part II
Hope your 4th ROCKED! Had a great time with the wife and kids in the h20 and 90 degree sunshine (yes, we get some damn hot days here in Salem).
My last post was about a potential "mall" purchase. Things are already getting interesting. Here's the latest I sent out to those interested in the property and the call coming up next week:
"...Just got off the phone with my Broker. Essentially, there's a potential buyer making a move on this property THIS week. And, that's OK. So, we're going to re-schedule this call for a later time. They've done this before and they screwed it up b/c their offer was a mess from what I heard via the grapevine, and you wouldn't believe how twisted this vine is!! I don't anticipate it being too different this time, and if there's one thing I learned, DO NOT act in haste b/c you perceive another potential Buyer is going to take your prize!! It is NOT worth it!!! SO...We're going to sit back and see how things materialize for the next 2 weeks. You'll hear from me when the time's right and I'll do my best to give everyone at least a 7 day notice for the re-scheduling of this Mall Call."
So, for now, we're holding and we'll wait and see what happens. It's a gut instinct thing I guess. I asked my broker if I should hang tight or get involved, with my gut telling me to wait. He agreed.
I'll keep you posted. Meanwhile, I've re-directed my efforts to a 6-unit apartment building. It got my attention with a No-Money Down headline. There's value there - from the Buyer's perspective and from the Seller's. They got my attention by offering clever terms (oh, and a 1-year tax abatement which I figure is worth close to $5,000 based on other properties I have in the area) and of course, upside on rents.
Hope you have a great weekend - I'm headed to the lake with the kids, wife, dog and the travel trailer. Yup, even I love to camp! Nothing like the smell of a campfire, burnt marshmellows, Hershey's chocolate and of course, Honey Maid Graham Crackers...Oh, and an ice cold adult beverage to boot (or multiples).
Adios, Stay Cool. Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
My last post was about a potential "mall" purchase. Things are already getting interesting. Here's the latest I sent out to those interested in the property and the call coming up next week:
"...Just got off the phone with my Broker. Essentially, there's a potential buyer making a move on this property THIS week. And, that's OK. So, we're going to re-schedule this call for a later time. They've done this before and they screwed it up b/c their offer was a mess from what I heard via the grapevine, and you wouldn't believe how twisted this vine is!! I don't anticipate it being too different this time, and if there's one thing I learned, DO NOT act in haste b/c you perceive another potential Buyer is going to take your prize!! It is NOT worth it!!! SO...We're going to sit back and see how things materialize for the next 2 weeks. You'll hear from me when the time's right and I'll do my best to give everyone at least a 7 day notice for the re-scheduling of this Mall Call."
So, for now, we're holding and we'll wait and see what happens. It's a gut instinct thing I guess. I asked my broker if I should hang tight or get involved, with my gut telling me to wait. He agreed.
I'll keep you posted. Meanwhile, I've re-directed my efforts to a 6-unit apartment building. It got my attention with a No-Money Down headline. There's value there - from the Buyer's perspective and from the Seller's. They got my attention by offering clever terms (oh, and a 1-year tax abatement which I figure is worth close to $5,000 based on other properties I have in the area) and of course, upside on rents.
Hope you have a great weekend - I'm headed to the lake with the kids, wife, dog and the travel trailer. Yup, even I love to camp! Nothing like the smell of a campfire, burnt marshmellows, Hershey's chocolate and of course, Honey Maid Graham Crackers...Oh, and an ice cold adult beverage to boot (or multiples).
Adios, Stay Cool. Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Sunday, June 24, 2007
Back in the saddle...
It's embarrassing that it's been almost 4 months since a fresh post has hit this Blog. Well, that's changin, and it's changin' today.
So, let's get started by taking a look at a property right here in my hometown, Salem, Oregon.
It's a multi-tenant mini strip mall. The owners are liquidating their assets and this is one of their last. As long as I can remember, it's attracted problem tenants. None have stayed long, and one, in particular had some real potential, but the business owner screwed it up.
At any rate, it's a 5 unit complex. I wrote about it recently to my LOS Members (if you are not familiar with my LOS Program, you should be. Shoot me an email: Jerry@JerryJonesDirect.com to learn more). Here's what I wrote:
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
So, let's get started by taking a look at a property right here in my hometown, Salem, Oregon.
It's a multi-tenant mini strip mall. The owners are liquidating their assets and this is one of their last. As long as I can remember, it's attracted problem tenants. None have stayed long, and one, in particular had some real potential, but the business owner screwed it up.
At any rate, it's a 5 unit complex. I wrote about it recently to my LOS Members (if you are not familiar with my LOS Program, you should be. Shoot me an email: Jerry@JerryJonesDirect.com to learn more). Here's what I wrote:
Hey Everyone,
For about two or three years now I have been watching a deal unfold before me. It's now, I believe, time to act. Sometimes these commercial deals take a lot of time to wind-up, and create a "ripe-for-the-pickin'" opportunity.
One of my long-time trusted commercial brokers, Dave Shuford, whose handled everything from leases to sales for me, has been managing a small "mall" (I use the terms loosely) with 5 or 6 tenants that certainly has had its struggles. For one, the parking is very limited and that has been an issue. The owner's are an older couple living on the Oregon coast, and it's time for them to cash out and enjoy life.
Oddly, two weeks ago, one of my yellow letters to out-of-town owners generated a call from the guy. His name is Lee Clemens. We talked for a bit and he let me know about his mall. Before we finished the conversation we found we had a mutual friend in Dave, my commercial broker. Dave incidentally, he says, has the property listed (I knew this to be the case.).
Before I go further, let me tell you the DOWN side of this property investment:
1) Minimal Parking
2) No giant anchor tenant (It's really not conducive to one anyway due to parking)
3) Deferred Maintenance. There's a good chunk that COULD be done, but not necessarily right away.
Now, here's the positive:
1) Mgmt in place (Dave)
2) Tenants in place (all spaces are currently rented, however, 2 SMALL spaces with minimal rents will become vacant soon)
3) LOCATION, LOCATION, LOCATION. This property is absolutely in the path of progress and is located on South Commercial Street, just past the City Offices, Town Hall, Library and...a HUGE re-development project that has broken ground and is under construction with roughly 60 units of commercial and residential condominiums.
4) Sales price is LESS than the tax assessed value which means one of the first things I would do is file a property tax appeal. If you were on last week's call you know this means there is an opportunity to reduce yearly expenses and increase the profits.
5) There is a rent increase upside to increase revenues. However, this will come with tackling some of the deferred maintenance.
The strategy here is buy, hold and let the rents cover a chunk of the expenses, and as time passes (5 yrs or so?????), we'll be gobbled up in the re-development process, which is literally just down the street a few blocks and cashed out.
There will be some feeding of this building. BUT, it's the long-term gain that is enormous.
So, all this said, I am looking for a group of folks that want to go in on this deal and purchase it via an LLC.
Based on interest levels, I plan on having a conference call for this property mid-next week.
if you are interested, please email, fax or call Melody. Her email is melody@jerryjonesdirect.com. Phone: 503-339-6000 and fax is below.
I have a guess that the interest level will be high.
Also, the minimum investment into the LLC that holds the property will RANGE from $20,000 to $30,000 or more. I just don't know yet. Purchase price will be in the $400,000 to $450,000 range. Again, I have not even started the negotiations, so this is just a prelim email to gauge interest.
Let me know if you are interested and we'll get you the call-in information and times for next week. Thanks, Jerry
If you'd like to follow along and gauge the success/failure of this coming together, stay tuned. We'll see what happens.
I'm also reviewing a small property over in Depoe Bay on the Oregon coast. It's a .41 acre lot. More to follow later on.
Now, go make an offer(tm)!
~Jerry
For about two or three years now I have been watching a deal unfold before me. It's now, I believe, time to act. Sometimes these commercial deals take a lot of time to wind-up, and create a "ripe-for-the-pickin'" opportunity.
One of my long-time trusted commercial brokers, Dave Shuford, whose handled everything from leases to sales for me, has been managing a small "mall" (I use the terms loosely) with 5 or 6 tenants that certainly has had its struggles. For one, the parking is very limited and that has been an issue. The owner's are an older couple living on the Oregon coast, and it's time for them to cash out and enjoy life.
Oddly, two weeks ago, one of my yellow letters to out-of-town owners generated a call from the guy. His name is Lee Clemens. We talked for a bit and he let me know about his mall. Before we finished the conversation we found we had a mutual friend in Dave, my commercial broker. Dave incidentally, he says, has the property listed (I knew this to be the case.).
Before I go further, let me tell you the DOWN side of this property investment:
1) Minimal Parking
2) No giant anchor tenant (It's really not conducive to one anyway due to parking)
3) Deferred Maintenance. There's a good chunk that COULD be done, but not necessarily right away.
Now, here's the positive:
1) Mgmt in place (Dave)
2) Tenants in place (all spaces are currently rented, however, 2 SMALL spaces with minimal rents will become vacant soon)
3) LOCATION, LOCATION, LOCATION. This property is absolutely in the path of progress and is located on South Commercial Street, just past the City Offices, Town Hall, Library and...a HUGE re-development project that has broken ground and is under construction with roughly 60 units of commercial and residential condominiums.
4) Sales price is LESS than the tax assessed value which means one of the first things I would do is file a property tax appeal. If you were on last week's call you know this means there is an opportunity to reduce yearly expenses and increase the profits.
5) There is a rent increase upside to increase revenues. However, this will come with tackling some of the deferred maintenance.
The strategy here is buy, hold and let the rents cover a chunk of the expenses, and as time passes (5 yrs or so?????), we'll be gobbled up in the re-development process, which is literally just down the street a few blocks and cashed out.
There will be some feeding of this building. BUT, it's the long-term gain that is enormous.
So, all this said, I am looking for a group of folks that want to go in on this deal and purchase it via an LLC.
Based on interest levels, I plan on having a conference call for this property mid-next week.
if you are interested, please email, fax or call Melody. Her email is melody@jerryjonesdirect.com. Phone: 503-339-6000 and fax is below.
I have a guess that the interest level will be high.
Also, the minimum investment into the LLC that holds the property will RANGE from $20,000 to $30,000 or more. I just don't know yet. Purchase price will be in the $400,000 to $450,000 range. Again, I have not even started the negotiations, so this is just a prelim email to gauge interest.
Let me know if you are interested and we'll get you the call-in information and times for next week. Thanks, Jerry
If you'd like to follow along and gauge the success/failure of this coming together, stay tuned. We'll see what happens.
I'm also reviewing a small property over in Depoe Bay on the Oregon coast. It's a .41 acre lot. More to follow later on.
Now, go make an offer(tm)!
~Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Wednesday, February 28, 2007
Updates Forthcoming!!
I have to apologize for the “lack” of activity on my BLOG! I just finished up the Real Estate Boot Camp last week, took a few days off and now am back in it. I have several properties I am working right now – including a couple condos, raw land, etc. (and yes, even a couple foreclosures). So…watch your email and visit the BLOG. More to come soon!
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Monday, January 8, 2007
Upcoming Event Press! Cool!
Ahhh, folks, we're getting some Internet Press on the upcoming event...
If you haven't seen it, you can check it out online at:
Contemporary Esthetics & Restorative Practice or
http://biz.yahoo.com/prnews/070108/phm037.html?.v=61
~Jerry
If you haven't seen it, you can check it out online at:
Contemporary Esthetics & Restorative Practice or
http://biz.yahoo.com/prnews/070108/phm037.html?.v=61
~Jerry
Sunday, January 7, 2007
What are you New Year's Goals for REI?
Real Estate Investing is like any other business you or I may own. Planning is an essential part of it!
For instance, a partner of mine, Tom, and I recently sat down and literally spent 2 hours going over what our 2007 goals & ambitions were.
We identified the end goal and worked backwards, effectively backing into what we need to do daily, weekly and monthly to get where it is we want to be with one of our partnerships.
If you have a goal of buying one house each month and then re-habbing it and then selling it or renting it out, or 12 this year, this is a certain number of homes you'll have to make offers on in order to buy one each month, right? And, some months, you might even end up buying MORE than one.
Start with reasonable goals. If you hit them, up the ante. It's as simple as that.
Check back in about 3 or 4 days. I'll be introducing you to a project that is actually in the works, and I'll get you up-to-speed on it and take you through our exit strategies (notice, more than one!).
Later, Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
For instance, a partner of mine, Tom, and I recently sat down and literally spent 2 hours going over what our 2007 goals & ambitions were.
We identified the end goal and worked backwards, effectively backing into what we need to do daily, weekly and monthly to get where it is we want to be with one of our partnerships.
If you have a goal of buying one house each month and then re-habbing it and then selling it or renting it out, or 12 this year, this is a certain number of homes you'll have to make offers on in order to buy one each month, right? And, some months, you might even end up buying MORE than one.
Start with reasonable goals. If you hit them, up the ante. It's as simple as that.
Check back in about 3 or 4 days. I'll be introducing you to a project that is actually in the works, and I'll get you up-to-speed on it and take you through our exit strategies (notice, more than one!).
Later, Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
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