April 2012
1 post
3 tags
March 2012
2 posts
I WANT ALL CASH!! (no they really don't)
We have all heard it before or at least seen it on the MLS…. “CASH ONLY” Whenever I see this I think, “I wonder what they plan to do with the CASH”. The truth is they don’t want the cash but what the cash will buy them. Peter Fortunato (great mentor/educator) is fond of saying that people want the “stuff” that the money will buy them. If you can...
I love my residents (tenants)
The first week of each month is a special time for me. Let me explain. Over the past 5 years I have been acquiring rental properties. Through all of the the sweat, blood, tears and drama you finally arrive at the first of each month…. RENT DAY!!
Few things compare to the feeling of staring at a stack of rent checks waiting to be deposited. Working hard to identify and capture these...
February 2012
1 post
3 tags
December 2011
2 posts
Getting to WHY
As I park the car in the lot, I notice quite a few empty spots. The building itself is new and the parking lot has freshly painted lines. A placard on the front door instructs visitors to sign in. As I open the door and step inside my nose is greeted with the smells of new carpet and paint while my eyes are drawn to a group of 6 men gathered near a large fireplace. They are engaged in a...
Peter Fortunato is coming to Santa Ana in March
Peter Fortunato’s
PAPER COURSE
Santa Ana on Saturday & Sunday, Mar. 10 & 11, 2012 (9:00 – 5:00 daily)
Learn to Construct Transactions, Income and Wealth
Discover negotiating techniques and paperwork that make transactions work.
Get Pete’s clear, patient explanations, practical insights, and his 2012 workbook!
Two Days of Profit-Making Discussion and Documentation:
• Seller...
September 2011
2 posts
Gary Johnston will be speaking this Wednesday...
The GREATEST generation
I had occasion to sit down with 86 year old Anthony Hunt and his wife Joyce a couple of days ago. Mr. Hunt is a WWII veteran that saw major combat in the European theater against Hitler’s forces. His legs were frozen below the knee by the extreme temperatures but he fought on like that for 3 months (eventually landing in an English hospital for 9 months to recover). He cannot feel his legs...
August 2011
4 posts
FACE TIME
RAPPORT-is a term used to describe, in common terms, that two or more people feel in sync or on the same wavelength because they feel alike- (thank you Wikipedia)
It’s easy to get yourself into the mindset that SYSTEMS will set you free. Don’t get me wrong, it’s important to be organized and be able to plan what you are doing with your business. However, you also need to be constantly evaluating...
April 2011
2 posts
Best equipment for recording phone calls?
I want to be able to record phone calls I make/receive from sellers so that I can “critique” myself after the fact. I use my cell phone for all of my calls. Can anyone tell me what they are using to do this?
"Subject To" Challenge
So as many of you know (because you were in attendance) we had an OUTSTANDING live negotiations class this past weekend. As a result of that class I was challenged to get a SELLER FINANCED deal in Orange County by May 26th. I have accepted the challenge and will be posting my progress here.
I look forward to your feedback and input!
Shawn Watkins
43 DAYS Remaining
January 2011
1 post
December 2010
1 post
October 2010
1 post
September 2010
3 posts
Investor default hurts everyone
I just got off the phone with an owner that did a subject to transaction 3 years ago with another investor. (She and her husband allowed an investor to take the deed to their home “subject to” the underlying debt @5.75% 30 year fixed). In exchange for $10,000 the owners were given an all inclusive trust deed (AITD) that “wrapped around” the underlying bank financing. The...
New investment strategy
Thought for day:
To help you better understand the financial crisis in which our country finds itself, I have attempted to put it in terms common people, like you and me, can easily understand….. If you had purchased $1,000 worth of shares in Delta Airlines one year ago, you would have $49.00 today. If you had purchased $1,000 worth of shares in AIG one year ago, you would have $33.00...
A recent email exchange with a seller
I found a FSBO ad advertising “assume my mortgage” and sent an email. Below is the exchange I have had with him so far.
ME: Did you find someone to take over your mortgage yet? Please let me know.
SELLER: I have a few people interested and doing thier paperwork now. Are you a investor? I am not looking for someone to take over the payment but I am going to have them assume the...
August 2010
6 posts
Loan resets are a big problem, but not the biggest...
There are approximately 57,200,000 loans in the United States. 42,900,000 out of that 57,200,000 were originated between 2003-2007. (many of these at a 6% or lower rate)
Delinquencies are skyrocketing for the following reasons:
Too much money was lent to unqualified buyers with too little skin in the game
Owners pulled equity out and spent it
Monthly payment hikes occurred at the worst time
...
2010.... The year of the tenant
2010…. The year of the tenant
My focus for 2009 was to concentrate on seller financed transactions. This would allow me to “stretch” my available capital making it possible to control more property with the funds I had available and hold them long term. Well….. It worked. Using this strategy allowed me to acquire over fifty rental “doors” in 2009. However, this success comes with its own set of...
June 2010
1 post
April 2010
2 posts
WatchVideo follow up to the Real Estate time machine.
The Real Estate Time Machine →
How do you give a home seller the price they want today AND allow them to comeback later and collect MORE equity?
January 2010
3 posts
WatchHere is what a typical move out looks like.
WatchSeller financed duplex for less than $8,000 down and $400 per month cashflow!
December 2009
9 posts
Listen
Listen
Listen
Watchgary:
An Interview about Crush IT on Hulu What are your thoughts?
Listen
WatchVideo of rehab we have going on.
Risky Business
My good friend, Spencer Erickson recently posted this on my website. Since he doesn’t blog, he allowed me to re-post it here.
I recently had an interesting conversation with a friend that began on the topic of investment diversity. My friend proudly told me about the diversity of his investment portfolio. His investments were in the stock market, in private business, and also in real...
Gathering Great Tenants in Hard Times
ezlandlordforms:
The United States of America house vacancy number is at the moment the largest it has ever been, at twelve percent. This is not at all what we anticipated when the real estate market collapsed and mortgage companies began going out of business in record quantity. Then, the thought was that property managers would actually reap benefits, because individuals who were not able to...
Dealing with Tenant Complaints →
Great tips on dealing with tenants and their issues.
November 2009
14 posts
WatchIncrease your CASH FLOW by not taking any deposit for your rental properties.
WatchAre you in need of a FLOWJOB? Watch the video and find out!
WatchWhether you are putting flooring in a rental property or a flip, you need to make sure the proper prep work has been done. Otherwise, you will make extra work for your installers resulting in MORE time making you less FLOW.
Renter demand to increase in Salt Lake City, UT? →
This article describes some events/developments that could make renter demand increase in Salt Lake City, UT. Utah is one of the markets that I invest heavily in so this is interesting (and encouraging) information for me.
Quality Tenants
QUALITY tenants start with a QUALITY mindset. Have I been tempted to “skimp” on a rental property when I am getting it ready for tenants? YES! Especially with big ticket items like a furnace or water heater. By taking a proactive approach with our tenants we are programming them to STAY and preparing ourselves for success. Installing things like solid surface floors (laminate floor or...
GREAT RE investors resource website →
WatchFive unit building that I bought “subject to” an existing first mortgage. This is FULLY rented now and giving me a KILLER FLOWJOB!
1 tag
WatchHere is a LIVE real estate auction held in Bountiful.
