Washington DC Hard Money Lender

Remember our small groups at Washington REIA? They’re baaaaacckkk!

On Monday, May 21st, we are bringing back our small group breakout discussions prior to the main meeting. The three small groups will go hand in hand with the “Getting Started or Re-started” theme for the May meeting. Each group will focus on the challenges you may be facing today based on where you are in your career.

If you have never arrived early for small groups, let me explain. When you arrive at WREIA this month you will have an option to enter the discussions in one of three small groups:

I want my first deal! Many people get started investing in real estate after listening to a few CD’s, reading a few books, or attending a free seminar. But, getting started is sometimes hard. This group discussion will focus on your first property. All of us fondly remember our first transaction. I discuss my first deal in the video posted at http://www.youtube.com/watch?v=Sp0VBcgxxHo&t=1m18s. The link will take you right to where I begin to talk about the situation the seller faced in my first deal, and how we agreed on a sale.

That was fun, and I want to do more! This is for you part time folks. Some people will move quickly through this stage of their career. Others may begin to struggle because they lack the systems or time to manage more than one project simultaneously. If you have done a deal or two, but are looking to build a real business – this group is perfect for you.

I’m a full time real estate investor. How do I double my business? This group is for you that are working full time in the business, and want to double your revenue. If you made 150k last year, there is nothing stopping you from doubling your business over the next 12 months. 2012-2014 are going to be career making years for some people. Visit this group and find out how to guarantee you reach your goals.

***

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

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

***

Times have changed – pretty dramatically – since 2005. There are many new challenges that you face in this business, or any business. If you choose to quit when you hit small bumps in the road, you simply will not make it to your finish line. We discussed “bonking” in real estate in our last email. You can still read the article and catch a dramatic 1995 video of Paula Newby Frazier “bonking” at http://washingtonreianetwork.com/

No matter where you are in your career Monday night we will shed some light on major challenges influencing today’s market. If you have yet to do your first deal you will want to join us. More importantly, if you are making 200k or more in this business each year, and want to double your business – you will definitely want to join us.

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

Let me know how I can help you,

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

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

***

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

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

So I drove over to the Greenbelt Bankruptcy Court and discovered something.  These days, the security folks don’t take kindly to cameras inside federal buildings.  So instead, you get my story from outside the building – but nonetheless…..

I posted a video where I talked about the two businesses I bought out of bankruptcy.  It’s really pretty interesting what goes on in these proceedings.  Let me tell you, you can create profits for yourself by understanding the process.

Yes, I bought two companies. Actually, what I purchased was some of the assets (the inventory) of those companies.  I turned around and sold the items for a nice profit.  You can buy jewely, artwork, coin collections, stamp collections, cars, and of course – real estate.

Last Saturday, we spent a great day with MidAtlantic networking and talking about self-directed IRA’s.  Folks, bankruptcy court is one of those places you can start with just a little in an IRA, and really build an account fast.

But it doesn’t have to all be small items.  Like I said, you can buy real estate too. In our area, there is plenty of opportunity to make an offer on some very nice homes.  In many cases, you will be the only person bidding on the property.   If you meet the right people at a hearing, you may even find yourself talking about buying notes, or other “paper” assets.

Can you tell I get a little excited talking about this?   This is an exciting part of my business, and one I expect to grow over the next couple of years.  One good contact could literally propel your career to the next level.

But…..

It takes some work.   Many filings look like they have potential, only to find out there is nothing but wasted time and effort.  That is the case now more than ever.

You might find a filing that looks like a clear winner.  You work hard, and finally get in touch with the right people, only to find that the numbers don’t actually add up like you thought they would.   Many times, especially when dealing with properties in foreclosure, there is a hurried initial filing – which is followed by an amended filing.  Initially, it looks like there may be something to move forward with, only to get the whole story weeks later.

There are different types or Bankruptcy Chapters, and you may have heard of some of them.  Chapter 7, Chapter 11, Chapter 13 and more…. each has it’s own set of rules.  There are plenty of documents to review, and sometimes, you can strike “gold” – just because you were digging.

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

See you Monday!

John