Nicole Purvy Classified

In episode 125 of the Better Than Success Podcast host Nicole Purvy shares the quickest way to achieve your business goals.

The Quickest Way to Achieve Your Business Goal

After realizing that all books aren't super technical and learning through experience that self-help books almost all of the time you never have 100% success because they leave out certain strategies, Nicole learned the quickest way to achieve your goals. Wanting the answers to complete the full story, Nicole started to manifest success in her life by living through these four scriptures. In this episode, she takes you through a line of reasoning and how to achieve your personal/business goals.

"You have to learn how to not allow what has/hasn't happened in the past to affect what is going to happen in the future" - Nicole Purvy

1 scripture:

2 Corinthians 5:7

7 For we live by faith, not by sight.

Nicole explains the fact of what you physically with your eyes should not affect how you live. Understanding that people can play tricks on your eyes is super important. Understanding that everything you see around you is no the foundation you live your life on will help you tremendously when trying to achieve long term goals.

"Experience is not how you should base how you live your life"

2 scripture:

Hebrews 10:38

38 And, "But my righteous[a] one will live by faith. (Hebrews 10:38, Galatians 3:11, Romans 1:17)

Nicole explains how to use faith to manifest in your life with the 2nd scripture. In order to achieve your goals, you have to have the right thinking to get there. Someone who has the 'right thinking' is righteous. Therefore, you have to be able to think and know if something isn't right and live by faith.

In order to achieve your goals, you have to have right thinking to get there

Someone who has right thinking is righteous

Have to be able to think and know if something isn't right and live by faith

3rd scripture:

Romans 10:17 17 Consequently, faith comes from hearing the message, and the message is heard through the word about Christ.

Hearing is so impactful and determines what you have faith in. In order to achieve your goal, you have to understand and hear what is being told.

4th scripture:

James 2:26 26 As the body without the spirit is dead, so faith without deeds is dead.

"You have to have faith first" Nicole shares. People think you have to do something to prove your faith and misinterpreting this scripture will stop you from achieving any goal you have.

To learn more about the AntiHustle Masterclass, click the link below.

betterthansuccess.com/masterclass

To purchase the AntiHustle book, CLICK HERE.

In episode 124 of the Better Than Success Podcast host Nicole Purvy interviews financial consultant Curtis May.

Curtis May, the principal of Practical Wealth Advisors LLC , He helps families and business owners learn to plan wisely for the future and to achieve financial independence. Much of Curtis' time is devoted to hosting financial workshops where he lectures on financial literacy, cash flow management, managing home equity, and how to create a Private Family Capital Reserve System that lets families operate their personal economies like banks and financial companies operate theirs. He also teaches small business owners The 7 Steps to More Sales System – how to increase revenue from existing business assets with an effective marketing system. Curtis believes education has become an integral part of his work as a financial consultant.

How I Became My Own Bank?

After growing up in a self-employed family, Curtis explains why he grew up with a self-employed mindset. Curtis's grandfather had his own business which was followed by his father who always told Curtis 'You'll never make good money working for someone else'. Never getting the traditional 'go to school and get a job talk', Curtis was able to create a lane for himself being a financial consultant. In this episode, he goes to telling the audience about his natural state of being an introvert and being an advisor for 20 years through and after college. He helped people with all types of finance consulting with retirement plans, 401K plans and many more. After going through 3 crashes in the market, Curtis lost his belief in the equity market and reconstructed his way of thinking in order to help others more efficiently. He then structed a strategy and realized his approach to financials is 'what rich people do'. Curtis references the book The Richest Man in Babylon that teaches you how to save.

The way to becoming your own bank is in this order:

1. Pay yourself first
2. Manage your cash flow
3. Make your goal multiply

"There is no stock that will make you rich. Your #1 asset is yourself" - Curtis May

In order to create wealth, you have to have all 3 things (mindset, network and skillset). Most people think they key is finding better investments for a high return, Curtis explains that there is more opportunity to minimize than picking winning investments. In order to become your own bank, you have to understand wealth transfer which are things such as how you pay mortgage, how you fund your taxes, retirement plans and more. Understanding that most people are just giving away money and when you pay extra all you are doing is transferring your money to the bank is important when becoming your own bank.

Make money, save money, and invest your money - keys to creating wealth.

Contact info:

Email : [email protected]

In episode 123 of the Better Than Success Podcast host Nicole Purvy interviews Real Estate Developer Leslie Smallwood-Lewis. This episode was recorded live during the 2nd Annual Women in Real Estate Summit on Nov 3, 2018.

Leslie started her real estate career at the Goldenberg Group, a regional mid-sized real estate development firm located in Blue Bell, PA, as an Associate Development Director. During her 7-year tenure, she was promoted three times ultimately achieving the position of Senior Vice-President of Development. Leslie led the development of a $50 million, 342,000 square foot shopping center, the largest single development in West Philadelphia and the largest development in a Federal Empowerment zone located in the Commonwealth of Pennsylvania. In 2008, Leslie and her partner Gregory Reaves, established Mosaic Development Partners. Since its founding, Mosaic has developed over $54 million in real estate projects and has created over 200 construction jobs and 100 full-time jobs. Leslie is a graduate of Brown University and Villanova School of Law.

How I Developed Over $54MM in Real Estate?

After working at a large development firm, Leslie was able to work her way up the development ladder and was a sponge the whole way up. Being a woman of color, no one looked like her in the development field, there was no diversity.

In 2008, Leslie decided to partner with someone and to go out and do the development thing on their own while inspiring their own community. During this interview, Leslie explains to her audincce that typically people who are heavy into the real estate game are born into in. While inspiring others, she shares she was not and still managed to be one of the only black woman developers in the City of Philadelhia. After partnering with her current partner now, Gregory Reaves, she tells her story of how they were able to start investing in real estate by taking out their 401K's.

"Be intentional about what youre trying to accomplish" Leslie says during the interview,

"You have to be willing to crawl before you walk, walk before you run".

Leslie goes on to talking about how it all started with a lot near Temple University. She seen the potential in the lot and met with the community and proposed a great idea for not pushing people out being apart of the process for creating a better community which was a student housing project.

After deciding it was a great proposal, they went along with the $20 Million Dollar project. Although this was a very, very steep project, Leslie and her partner still didn't have the money to finance this project. She then explains what she did to make this project possible. Leslie and her partner went out and found a developer who was established in the city and forged a partnership with them and negotiated a good deal making the project possible (which is now complete).

After this project, Leslie knew she could do this on her own with her partner. Leslie stresses the importance of having a partner during this talk, it is how everything she is doing is possible.

She then shares a little information on how the recession worked in her favor as a developer.

Leslie and her partner knew how to "think tight" and how to structure their deals based on that mindset which landed them as the '1st largest modular building in the City of Philadelphia'.

Moving on, Leslie touches a little on Reinvestment funds for developers.

"You have to be creative and think outside of the box. Do your homework.. Financial analyst is key!"

Leslie is now working on a project that you yourself can invest in for as little as $500…

www.smallchange.com- crowdfunding platform.

If you invest, you will get an inside look to development…

"Think long term.. Think of your children… development is not a fast return.

Relationships and through helping other people, you yourself grow and you build your own personal toolbox. It is very capital intensive, Partner with someone because development is tough but it is not impossible".

Contact Information:

Mosaicdp.com

Www.smallchange.com

To get your WIRE2019 tickets at deep discount…

To purchase all 14 recordings the WIRE lectures…

To get your "Real Estate Jawn T-Shirts"...

www.betterthansuccess.com/links

On episode 122 of the Better Than Success Podcast, hots Nicole Purvy talks the Top Accounting Tips that Could Save You Millions in Your Real Estate Business with Yvette Mitchell.

How can you save millions in your real estate business?

After doing taxes since she was 16 years old, Yvette Mitchell shares her knowledge and tax advice that can save any business owner millions. The first thing Yvette expresses before going into depth about the top tax tips to save you millions is knowing the difference between a tax accountant and a tax preparer. This is super important to know the difference in especially if you are a business owner of any sort. Yvette shares that a tax accountant is someone who has unlimited practice rights in front of the IRS and a tax preparer is someone who is trained to use the tax system but not necessarily someone who can represent you in front of the IRS. The importance of knowing the difference will help you understand the tips for saving you money running a business. During this episode, Yvette explains some key loopholes for businesses as well as real estate investors.

Understanding tax avoidance and tax evasion is also a key point made by Yvette throughout this episode. Tax avoidance meaning it is 100% legal and reduces taxes by legal means whereas tax evasion tetters on a criminal act and refers to criminal non payment of your taxes.

Top 10 tax tips when it comes to CYA (cover your assets)

#1 - Failing to plan

If you have something you want to do or a goal you want to achieve… You have to have clear goals on what you want to do for your business then you need to figure out a strategy with your tax accountant.

A lot of people do not add this to their business game plan and end up spending thousands in taxes at the end of the year that they could have avoided.

If you have a higher net income you will have a higher tax bill.

"Taxes is your largest transfer of wealth" says Yvette. Depending on your tax rate you may be giving 30% of your income.

Get into the habit of getting your money as you earn it.

#2- Documentation

The IRS gets most people because they fail to document… Not keeping correct documentation will hurt your business in the long haul. If it is legitimate and part of your business .. you can write it off. You are entitled to every loss that you earned.

You can write of dinners (if you are talking about business of course…)

#3 - Audit paranoia

Yvette addresses the common interpretation that anyone can get audited by the IRS. You should not have a fear of being audited if you are doing everything legit with your business. "You are allowed ordinary and necessary costs".

Also… Remember, different businesses have different flags. As a business owner with multiple businesses you need to set up multiple entities.

#4- This tip is for Real Estate investors

Depreciation… Depreciation… Depreciation!

When you buy a residential home you are able to depreciate the value of the property over the course of 27.5 years. This is usually a deduction that people always miss.

Depreciation can really add up …

This is free money you do not want to leave on the table.

#5 - Repairs vs Improvements (Real Estate Investors)

Set what will be written off ahead of time with you tax accountant.

Improvements need to be written off over the course of your lease.

If it is a residential house it goes into regular depreciation.

You have to show the IRS that repairs are actual repairs in your investment homes and not improvements. This is a major, major key.

#6 - As a business owner, we should be doing "business trips"

The IRS will allow you to write off any travel related to business. BUT... before you leave out:

-Set up appointments when you travel…

-Schedule to see properties,

-Take another realtor out to lunch

etc.

As a real estate investor/business owner, learn how to fully utilize your business.

#7 - Know the difference between an investor and a dealer…

Investors can do 1031 exchange because it is passed through corporation.

As a buyer and flipper you are inquiring inventory and IRS will classify you as a 'dealer'.

Therefore, you are subject to self employed income.

When you open you business you need a conversation with accountant it may cost $300 but will save you thousands!!

#8 - Employ Your Family

Your kids can work for you from 7 years young to 17 years old. You can, in fact, pay your kids through your business…

Example: Yvette paid her son for doing work for her business and was able to write it off as tax deduction.

What can you kids do? They can dust… take out the trash etc… But before you employ your family/children you need to know you can't pay them less than minimum wage.

Your child is taxed at a lower rate.

#9 - Create a home office

As a business owner, you may work out of your home… you need to take full advantage of that.

You need to have a designated home office (at least ⅛ of your home).

#10 - Meals of Entertainment

A lot of people are scared to write this off. Don't be scared but know you need to keep receipts!

Business development counts…. Example: Having a summer cookout with clients… that is a business expense.

Don't leave your meals out.. And keep track of them

$7 may not seem like a lot but over a year it will add up…

In episode #121 of the Better Than Success Podcast Host Nicole Purvy interviews, iRoofPA co-owner and real estate investor Steven Reyes. After listening to episode #118 with Courtney Richardson, Steven felt compelled to write in a 3-page letter to our podcast arguing his case for effectively investing in real estate tax auctions. We decided to bring him in and let our listeners hear what he had to say themselves. Listen to see what we discussed. Below is a copy of Steven's letter.

______

9/7/18

Hello BetterThanSuccess,

Hope all is well. I was at the better then success meeting yesterday and was so blown away with the community and resources on display, I had to join today. I look forward to participating and learning from this dynamic community. I am an active investor, landlord, and owner of a local contracting company so as I'm sure you could imagine your community has quite a lot to offer, and I look forward to adding anything I can. Warning: This is long. Its only my two cents so feel free to take it for what it's worth. Firstly, I have been feverishly listening thru the podcast material all day. I was very excited to listen when I heard that the most recent podcast was regarding tax auction. I immediately couldn't wait because I am a podcast fanatic and I have bought properties off the tax auction, am in current litigation regarding a tax auction buy, and have learned quite a lot in a short period of time. I was captured by the content. I learned numerous things I didn't know and was incredibly impressed with Ms. Courtney Richardson's knowledge and perspective on the topic. I have devoured every resource on the internet regarding Philadelphia Tax Auction. YouTube, blogs, bigger pockets, REI groups, etc. And nothing had as much valuable information on the subject as that podcast. It was an excellent episode and I will be suggesting it to numerous people for listening. But I did want to share some important insights that I thought got left out that might add to the conversation. These are things I've learned buying at the auction, taking the sheriffs seminar, and reading everything I could find on the subject. Sorry If this comes off as unsolicited, I just felt moved to share it. A quick note that got skipped was the part about the percentage of interest that a redeemer must pay to redeem a tax auction property. I had erroneously thought it was 7% so I was glad to be corrected on the 10 % figure. But the important part that got skipped was that that percentage goes to you as the new deed holder. That's relevant from an obvious point of money in your pocket, but also a note worthy fact when considering the over all risk of purchasing property at the tax auction. If they do redeem you do get your investment back, plus interest. Another thing to consider when assessing the tax auction as a tool for property acquisition is how under market the property prices are. When your data is properly curated, and you have thoughtfully and judiciously targeted properties that fit your criteria, you can find a multitude of half gut and quarter gut properties for below $20,000. Considering these properties can still fetch market rate rents, and their expenses are without mortgages eating into cash flow, the potential for acquiring cash flowing cheap sticker properties is high. Which leads to what I think you guys established well. Tax auctions are not for flippers! There not for wholesalers! The podcast did a really good job of explaining why! Title insurance, redemption, delays acquiring deed, all make quick transactions on property from tax auctions a bad idea. However, I would make one objection to something that was said in the podcast. It was agreed upon that the tax auction is for big investors. I think that's half true. I think a more accurate description would be that it's for prepared investors. Sometimes these are mutually exclusive sometimes not. But either way there must be a strategy before you ever walk in to the auction. One based on what your goals are, what transpires at the auction, and what needs to happen between you winning the bid and you collecting a rent check on that property.

In my estimation the safest and most profitable way to get return on investment from auction properties is to get new tenants in the property ASAP. Do a bare bones rehab, work with a contractor that writes forms creating a paper trail describing the need for every repair, and get it rented with a quality tenant. Avoid all cosmetic work as much as you possibly can while still getting a competitive market rent. My reasoning for this being the goal is mutli-fold. 1) Begin recouping initial investment asap via rental income.

2) Take advantage of cashflow sans mortgage payment, PMI, and all associated loan generation expenditures.

3) Create a stronger claim of ownership by having a legally valid lease contract and a tenant who has every right to continue execution of that contract as long as the landlord has and continues to operate in good faith.

4) Any reasonable sale of the property will have to be after a year. For some title insurance companies its two years. So the most profitable sale will come from after a couple years of ownership, during which you could be collecting high cashflow rental income, refinance and Brrr, or sell as a cash flowing tenant occupied rental after the title period.

Additionally, an investor must be prepared for rehab costs. Having good contractors (multiply) and reasonable expectations are the key. As you know you can't see the inside. Therefore, as an investor I think its prudent to assume the inside is always an entire gut job. The exterior state can be seen on physical inspection and google earth (state of roof). Our unknown is always the inside! So, every property we calculate for a buy range, we must assume the cost of a full interior gut. If we find that's not the case (and its often not the case) then it's a pleasant cap ex surprise.

Also, buyers must be ready to remove squatters. There is no amount of inspections that can reasonably be done from outside of the property to be sure the property is vacant. So, buyers must be ready to go through all the processes of a writ of possession. The process is too long to detail every bit here, but the important part is having an experienced lawyer who has done Writs of Possession proceedings. Additionally you must know how to start filling a complaint in the Court of Common Pleas ASAP, once you have the deed in hand.

This process can take time, so you want to move as fast as possible. Buyers should be ready to make cash deals to get squatters out. There are some tricks I learned from other buyers on how to accomplish this, but it can be superior method of removing them then the court of common pleas writ of possession process.

One last preparation that I learned from YouTube is how to mine the data on the auction. At the sheriff site there is a download button that lets you download the entire auction into excel. From there you can weed out the list by zip codes you like, square footage you prefer, bedrooms, etc. From this list we try to weed it down into a manageable number of prospective properties. Then we begin the process of physical inspections. Keep the lists organized by zip code for easier moving. During site visits we take notes and eliminate unfit properties to make a final list of target properties. We then do more research on comps, rental income, expenses, cap ex, and formulate a price range for each property. This list guides us and keeps our bids under control and within budget at the auction.

In conclusion If you can learn the system and prepare for what is unknown the tax auctions can be one of the best resources for finding deals, especially with the booming market right now.

If you read this far thank you for your time and I look forward to all the content your company has to offer.

Steven Reyes

In episode #121 of the Better Than Success Podcast Host Nicole Purvy interviews, iRoofPA co-owner and real estate investor Steven Reyes. After listening to episode #118 with Courtney Richardson, Steven felt compelled to write in a 3-page letter to our podcast arguing his case for effectively investing in real estate tax auctions. We decided to bring him in and let our listeners hear what he had to say themselves. Listen to see what we discussed. Below is a copy of Steven's letter.

______

9/7/18

Hello BetterThanSuccess,

Hope all is well. I was at the better then success meeting yesterday and was so blown away with the community and resources on display, I had to join today. I look forward to participating and learning from this dynamic community. I am an active investor, landlord, and owner of a local contracting company so as I'm sure you could imagine your community has quite a lot to offer, and I look forward to adding anything I can. Warning: This is long. Its only my two cents so feel free to take it for what it's worth. Firstly, I have been feverishly listening thru the podcast material all day. I was very excited to listen when I heard that the most recent podcast was regarding tax auction. I immediately couldn't wait because I am a podcast fanatic and I have bought properties off the tax auction, am in current litigation regarding a tax auction buy, and have learned quite a lot in a short period of time. I was captured by the content. I learned numerous things I didn't know and was incredibly impressed with Ms. Courtney Richardson's knowledge and perspective on the topic. I have devoured every resource on the internet regarding Philadelphia Tax Auction. YouTube, blogs, bigger pockets, REI groups, etc. And nothing had as much valuable information on the subject as that podcast. It was an excellent episode and I will be suggesting it to numerous people for listening. But I did want to share some important insights that I thought got left out that might add to the conversation. These are things I've learned buying at the auction, taking the sheriffs seminar, and reading everything I could find on the subject. Sorry If this comes off as unsolicited, I just felt moved to share it. A quick note that got skipped was the part about the percentage of interest that a redeemer must pay to redeem a tax auction property. I had erroneously thought it was 7% so I was glad to be corrected on the 10 % figure. But the important part that got skipped was that that percentage goes to you as the new deed holder. That's relevant from an obvious point of money in your pocket, but also a note worthy fact when considering the over all risk of purchasing property at the tax auction. If they do redeem you do get your investment back, plus interest. Another thing to consider when assessing the tax auction as a tool for property acquisition is how under market the property prices are. When your data is properly curated, and you have thoughtfully and judiciously targeted properties that fit your criteria, you can find a multitude of half gut and quarter gut properties for below $20,000. Considering these properties can still fetch market rate rents, and their expenses are without mortgages eating into cash flow, the potential for acquiring cash flowing cheap sticker properties is high. Which leads to what I think you guys established well. Tax auctions are not for flippers! There not for wholesalers! The podcast did a really good job of explaining why! Title insurance, redemption, delays acquiring deed, all make quick transactions on property from tax auctions a bad idea. However, I would make one objection to something that was said in the podcast. It was agreed upon that the tax auction is for big investors. I think that's half true. I think a more accurate description would be that it's for prepared investors. Sometimes these are mutually exclusive sometimes not. But either way there must be a strategy before you ever walk in to the auction. One based on what your goals are, what transpires at the auction, and what needs to happen between you winning the bid and you collecting a rent check on that property.

In my estimation the safest and most profitable way to get return on investment from auction properties is to get new tenants in the property ASAP. Do a bare bones rehab, work with a contractor that writes forms creating a paper trail describing the need for every repair, and get it rented with a quality tenant. Avoid all cosmetic work as much as you possibly can while still getting a competitive market rent. My reasoning for this being the goal is mutli-fold. 1) Begin recouping initial investment asap via rental income.

2) Take advantage of cashflow sans mortgage payment, PMI, and all associated loan generation expenditures.

3) Create a stronger claim of ownership by having a legally valid lease contract and a tenant who has every right to continue execution of that contract as long as the landlord has and continues to operate in good faith.

4) Any reasonable sale of the property will have to be after a year. For some title insurance companies its two years. So the most profitable sale will come from after a couple years of ownership, during which you could be collecting high cashflow rental income, refinance and Brrr, or sell as a cash flowing tenant occupied rental after the title period.

Additionally, an investor must be prepared for rehab costs. Having good contractors (multiply) and reasonable expectations are the key. As you know you can't see the inside. Therefore, as an investor I think its prudent to assume the inside is always an entire gut job. The exterior state can be seen on physical inspection and google earth (state of roof). Our unknown is always the inside! So, every property we calculate for a buy range, we must assume the cost of a full interior gut. If we find that's not the case (and its often not the case) then it's a pleasant cap ex surprise.

Also, buyers must be ready to remove squatters. There is no amount of inspections that can reasonably be done from outside of the property to be sure the property is vacant. So, buyers must be ready to go through all the processes of a writ of possession. The process is too long to detail every bit here, but the important part is having an experienced lawyer who has done Writs of Possession proceedings. Additionally you must know how to start filling a complaint in the Court of Common Pleas ASAP, once you have the deed in hand.

This process can take time, so you want to move as fast as possible. Buyers should be ready to make cash deals to get squatters out. There are some tricks I learned from other buyers on how to accomplish this, but it can be superior method of removing them then the court of common pleas writ of possession process.

One last preparation that I learned from YouTube is how to mine the data on the auction. At the sheriff site there is a download button that lets you download the entire auction into excel. From there you can weed out the list by zip codes you like, square footage you prefer, bedrooms, etc. From this list we try to weed it down into a manageable number of prospective properties. Then we begin the process of physical inspections. Keep the lists organized by zip code for easier moving. During site visits we take notes and eliminate unfit properties to make a final list of target properties. We then do more research on comps, rental income, expenses, cap ex, and formulate a price range for each property. This list guides us and keeps our bids under control and within budget at the auction.

In conclusion If you can learn the system and prepare for what is unknown the tax auctions can be one of the best resources for finding deals, especially with the booming market right now.

If you read this far thank you for your time and I look forward to all the content your company has to offer.

Steven Reyes

How to invest in the tax auctions the RIGHT way?

Guest Steven Reyes shares his knowledge on the pros of investing in the tax auction and how you should navigate the auction. As an active investor in the tax auction field, Steven has acquired all of his recent properties from the auction. He currently has one rented successfully and one in litigation. Before going to the auction, Steve explains how he 6 months before actually investing. His first property was a total of $16,000 and he completed a bare bones fix and rented it out as soon as he could. Bare bones fix up is fixing up a house to the point where it can be rented and nothing extra. "You need to do this to protect yourself.. Anything you need to get your renters licence" he shares. Reyes then explain to anyone who wants to invest in the tax auction that the average single home family is usually in the low $20,000's.

Most of the time when you invest in the tax auction, there can be 'squatters'. Squatters are people who are living in the house without legal title. Do squatters have rights? Absolutely! If you invest in the auction and the property you bid on has squatters, yes you have to go through a process to get them out. You cannot start working on a property if there are squatters. Therefore, you have to use a strategy to get them out of the property. There are many ways investors/owners can handle this scenario. In this episode, Steven uses one of his favorite strategies "cash for keys". He shares on of his own tricks (in which there are many) of getting the squatters on a lease so you can march them to eviction.

Moving on… Steven goes into depth about one of his properties that he has to do a LOT of work legally to fully acquire the property he invested in. His example is having a full family in the house he purchased from the auction. He explains the process but emphasizes on the fact that you have to start the legal process and get all paperwork for the property done ASAP due to right of redemption. Yes… someone can redeem their property in a set amount of time.

Reyes then gives step by step instructions for success at the tax auctions.

Step by step success at the tax auction:

1. You have to ask yourself, as an investor, what is your goal of acquisition? What are you looking for? What is your price range? What area are you looking to invest at? Do you have contractors and the proper relationships to fix them home up?

Steven expresses from experience to always assume it is a full gut because you never know how these properties look inside. Do you have a GC? These are the question you NEED to have the answers to before going to a tax auction.

2) RESEARCH, RESEARCH RESEARCH

-Whats dates are you going to the auction?

-Download data from sheriff list and put in in excel sheet … subtract properties off of your list to bring your list to a reasonable size.

-Although you are not supposed to look inside in the properties, do as much research as you can.

"Some properties can look good from the front… you need to physically inspect. Take notes…"

-Research your buy range:

-Run your comps.. What is rental income? How much will it be worth in the future.

3) Create a final list with your buy range.

"Don't go a penny over."

4) Tips on auction:

-Pay in money orders or cashiers checks.

-Get checks in thousand dollar/500 dollars increments.

-Sometimes they are packed, sometimes they are dead.

-You need 10% of you the properties price.. You can/will get kicked out if you are not prepared after bidding.

"Sometimes you need to walk out of there, You don't need to buy" Reyes explains.

5) Finish paying off the property asap… The deed starts as soon as you pay final balance.

'You are nothing until you have that deed in your hand.'

6) Lastly, after getting the deed you can roll up to the property and get into deal mode.

"Renting is the best option for monetizing from the tax auction"… in his opinion.

Contact Info:

833-IROOFPA

833-476-6372

iroofpa.com

For more information on joining the BTS Real Estate League, Click Here.

In episode 120 of the Better Than Success Podcast host Nicole Purvy talks How to Develop Your Strategic Plan for Your Real Estate Empire.

How to develop you plan for your real estate empire?

Starting off with what she has recently concluded and that is the challenge many people face after deciding to invest in real estate. Nicole says "One of the biggest things stopping people from doing deals is not having a strategic plan for your real estate empire".

She goes on to explain that idea that people are afraid to define exactly what they want. As you start to develop your plan you need to understand that short goals are good in the process. You also need to understand that your short goals need to be the platform to something big… Nicole references her very own self-help book, The AntiHustle: Starting a Sex-Figure Business in One Year. Nicole explains everything she is referencing in this episode is more in depth in the book. Moving on, as you begin the process of developing your plan you need to grasp the idea that people are afraid to define exactly what they want and work away from that to develop a clear vision.

Developing a strategic plan starts with a vision and a lot of work.

Nicole moves on to the topic:

Why people don't develop a plan for their life?

1- People are too lazy to define what they want.

It can take weeks or even months to develop a vision.

2- People are to afraid to define what they want because they don't think they will get it or deserve it.

"Don't make it stop you because you don't think you deserve it today…It will happen over time. Develop yourself into the person who deserves it" - NP.

After briefly touching on why people don't actually develop a plan, she explain some misconceptions about developing your real estate plan. Here are the top to reasons:

1. It must be realistic
2. You can't change your vision

Nicole then moves on to how you actually develop the strategic plan through your vision…

She explains there are TWO ways to do it.

1. Develop the long term vision (if the world was yours what does it look like?.. For Example: Owning 10 rentals, etc)

2. Based on financial freedom…

-How much money will you need for you to feel comfortable?

-How much do you need to leave your job?

Defining how many properties you need to reach your goal is an important factor while developing your strategy. Once you are able to define, you will need to start budgeting and planning so things can start to action action as soon as possible.

Once things are in motion… your strategic plan for your real estate empire will fall in place!

For more information on joining the BTS Real Estate League, Click Here.

In the 119th episode of the Better Than Success podcast Nicole Purvy talks The Easiest Way to Do Your First Real Estate Flip without Wholesaling or Your Own Money. We go into details about credit, rehab budgets, hard money loans, rehabs, the 65% rule and much more...

What is the easiest way to do your real estate flip with none of your own money?

After doing a recent successful real estate flip, Nicole shares some game on a strategy to use to flip a property in one of the easiest ways. She begins with sharing an experience of starting real estate one on one development with the members of the BTS Real Estate League. Being able to idenitfy the top 3 things that keep people from doing deals, Nicole shares what they are and how you can use the information to do your future real estate deals.

Top 3 things that keep people from doing deals:

#1- Mindset

-Nicole explains the importance of being able to change your mindset. In order for real estate investing to work for you, you have to realize that you do not have to trade your time for money.

#2-Not having a strategic plan

-Nicole explains the importance of having an end goal. If your goal is clear, you will be able to achieve with the right mindset.

#3- Not being able to piece together information

-Nicole explains that there are many resources (BTS REL, Google, Mentors etc) but not being able to use your reseouces and piece togther information will stop you from doing deals.

After explaining her personal experice on what stops people from doing deals, Nicole gives a 3 step process on one way to do a real estate flip without wholsaling or your own money.

Step #1 - You have to have good credit.

Of course you have to have good credit, but Nicole shares what really matters and that is… what you have on your credit.

"If you have bad credit, do NOT be discouraged" - Nicole Purvy

There are many ways you can fix your credit. In the episode Nicole references her very own credit repair specialsts, Will Roundtree. Click Here to visit the website listed in this episode. "You should at least have a credit score of 680" Nicole shares.

Step #2 -

Nicole shares the next step wich is to get lines of credit. After getting lines of credit, you will be able to use the lines of credit as a down payment on a property.

She lists some of her top resources for lines of credit:

-Navy Federal

-Discover Credit

-Capital One Jet Blue

After sharing her highly recommended lines of credit, she shares that you can in fact use credit cards on this step as well as the lines of credit.

What is the recommended amount in credit you should have for this proccess to work? The answer is at least $30,000-40,000 dollars in credit. This brings you to the final step.

Step #3 - Use business credit to leverage and borrow more money.

If you have a business that has been around for 2-3 years and can show your income of 100,000 revenue. Get business credit. Nicole shares her personal business credit specialist, Marcus Knuckles.

Reference:

Marcus Knuckles - Bizmoney Pro

What does it mean to leverage and borrow more money? In this episode, Nicole shares her own business (BTS Funding) as a reference to use private money to help do your real estate flips.

Click Here for more information on BTS Funding for your real estate flips.

After these 3 steps you will be able to do your real estate flips with no wholesaling and none of your own money.

For more information on joining the BTS Real Estate League, Click Here.

In episode 118 of the Better Than Success Podcast, host Nicole Purvy interviews Courtney N. Richardson. Courtney N. Richardson, Esq., LL.M, is the Founder of The Ivy Investor, a resource for women seeking to navigate the investing world in simple terms. When most people think of investing, they only think of the stock market. However, Courtney encourages diversification through investing in real estate. Courtney started in real estate as an Oil and Gas Title attorney in Appalachia (southwestern Pennsylvania, West Virginia) and Ohio during the Marcellus Shale boom. Her current practice area includes defending real estate property assessments and real estate tax enforcement with the City of Philadelphia. Before becoming an attorney, Courtney was an investment advisor for one of the top brokerage firms in the world. She is passionate about teaching how to create and retain wealth in the community through investing.

Understanding Real Estate Tax Auctions

After working in finance since she has been out of college, Courtney shares her story behind her entrepreneurial/real estate journey. Courtney explains in this episode how she began her entrepreneurship at the age of 12 making jewelry. Although she didn't particularly like jewelry, she thought this was a good idea. This started Courtney's journey to where she is now. She began working with the stock market and the stock market crashed in 2009. That same year she lost her job. After being laid off Courtney decided to take in on a trade overseas and moved to the phileneese for a couple of months. She then got accepted into law school where she began her law career. She shares to the audience that living home was a big distraction for her so she moved to West Virginia to be focused and on a plus side, that was where the money was at the time.

Moving on, Courtney ended up working for the best law firm in West Virginia doing gas and oil work. This is when she realized she enjoyed title work and real estate. However, Courtney's creative side was never really utilized at her job so she decided to get creative and start her brand "The Ivy Investor". She realized all of her close friends and family began to call her for rollovers, insurance etc and came up with the idea to start a blog to help others. From then, people have been constantly sharing her blog and she was able to be a reference for some of the main concerns people had for investing.

After working at the firm for two years, Cournet decided to continue her education at Temple Law school and received her LLM in Tax Law. She would be in the process of selling houses that have property delinquent taxes. As she was doing this, she realized "when people hear something and don't understand, they shut it down". She then went on to giving basic real estate investing advice. During this interview she addresses the hot topic of investing through tax lien/sheriff sales. Courtney explains that in order for this process to work you have to do you due diligence. One suggestion she makes if you chose to invest in the tax auction is to do a "light title search". That is, to make sure nothing crazy is going on with the property you want to invest in before investing your money because most of the time it is non-refundable. A "light title search" can cost you around $300 and this could save you a headache if you want to bid successfully. All in all, as a tax professional Courtney tells the audience to get a list of the properties before hand and do your research because sometimes you only have 7 days to settle and this is where a lot of investors mess up on tax auctions. Being aware of the process will be your best bet with the tax auction because there is a such thing as a redemption period for example. In some cases, am owner can possibly redeem the home being sold at the auction within 9 months. "Tax auctions are strongly recommended for 'BIG' real estate investors, someone who can afford to sit on a property for a few months" - Courtney Richardson

Contact Information:

Website: The Ivy Investor

IG: @theivyinvestor

In episode #117 of the Better Than Success Podcast, host Nicole Purvy interviews Claire Sulmers. Ms. Claire Siobhan Sulmers is the founder of FashionBombDaily.com, and the industry's leading fashion blogger chronicling fashionistas of color. Her pioneering work ushered in a new wave of digital journalism that fed and fueled an under-served community of African-American and Latino style lovers wanting to know more about brand from the culture. Beyond developing and directing content for FashionBomb Daily and its affiliate sites, Sulmers has done extensive style writing for other platforms including Vogue Italia , Vogue Paris , and ESSENCE Magazine. Her body of work and online following - now numbered above one million - has made Ms. Sulmers the influencer of choice for major corporate brands who want to reach her audience including Toyota, Reebok, Verizon, and mother. Ms.Sulmers, who hails from Atlanta, Georgia, holds a degree in French and African American studies from Harvard University. In 11 years, Claire has accumulated over 1.3 million followers, written a book "The Bomb Life", and is now working on her 2nd book.

How Claire Sulmers built one of the largest multicultural fashion media companies?

After going to Harvard University, Claire always knew her passion was in TV and writing. She consciously went to New York after graduation and applied to almost every internship in TV in the city she could and she couldn't land an internship. Claire then had to move back to her home in Atlanta, Georgia with her parents while her dream was not happening the way she thought it would. Not losing faith, Claire then continued her search for internships in her hometown. She sent a sample of her work to an upscale magazine company and was finally offered and unpaid internship. After working with the company for some time, they had an opening in the fashion department and offered her a job writing cover pieces. Although she was grateful for the opportunity, Claire knew her heart was in another place and she denied the position to follow her dreams. Moving on, Claire Sulmer decided to give New York another shot after having some background and she moved to New York. There she was offered internships that were very low paying, but she knew she had to do it. Finding her passion in Fashion, she started her own blog, The Fashion Bomb Daily. Following her career path at the time, she built relationships with other blogs and big companies started to link her. Now, at this time Claire became one of the first bloggers at New York Fashion Week. Claire shares in this interview that she would crash the fashion shows with her professional camera and catch a ton of exclusive shots. Claire then created her job that she has until this day being as though it didn't exist in her early stage of finding her career. At the time, she was still working her job and realized she had to quit and focus on her blog full-time. She shares stories on how long it took (4 years) being in the business and when she was able to finally start making enough money.

Another turn hit Claire's career journey when she decided she wanted to move to Paris. At the time, no one would hire her in Paris because they didn't take her serious being so far away from Paris. She then moved to Paris and lived with a friend of hers mother's apartment. Claire tells the audience how she moved to Paris with no money saved (she even spent all of her 401K savings before moving). She then tells the audience to "ask and you shall receive" after she shared that she asked for a job and went in in for an interview and landed the job...in Paris, she called this a miracle. Moving on, Claire created a path for herself and built one of the largest multicultural fashion media companies by working towards her goals.

Contact Information:

Website: fashionbombdaily.com

IG: @ClaireSulmers

In episode 116 of the Better Than Success Podcast Nicole Purvy interviews real estate developer Rodney Ross.

Bio

Rodney is an award­winning realtor working out of the Keller Williams Realty office in Center City, Philadelphia. Being a Philadelphia native and coming up on his 7th year anniversary in the real estate business has aided Rodney in developing a deep knowledge of both the real estate sales and development process. Rodney is not only a top agent, but an active investor as well. ​His first investment purchase was in 2009 with a single family residential home in Southwest Philadelphia. Since then, Rodney has bought and sold over 50 single family and multi­family properties throughout the city. Outside of his business, Rodney enjoys staying fit through cycling, weightlifting, and jumping rope. He believes in giving back to others and supports several nonprofits including the American Cancer Society, the KW Cares Fund, and Drexel University financially and through participation and organization of events. Rodney graduated from Drexel University, located in Philadelphia, PA with a degree in Business and Engineering. He applies the systematic problem­solving engineer mindset to his real estate business and his life.

How I Won a Bid from the City of Phila to Develop 36 Properties for 36 Bucks

Rodney tells the story of how he was able to get 36 properties for 36 bucks. During this interview Ross gives a little background on the project and what it is exactly. The name of the project is called Osage Pine. The Osage Pine project consists of a community of 36 homes on the 6200 blocks of Osage Avenue and Pine Street in West Philadelphia. Back in the 80's these blocks were bombed which forced a lot of people out of their homes. The city either gave people the option to leave or stay after a little rebuilding of the houses. After the bombing the community was destroyed and a lot of people decided to take the money from the city and move elsewhere. The City of Philadelphia then sat on these houses for years and finally decided to put a bid out of these 36 properties. This is where Ross and his team decided this would be a great project for them. Learning later in the episode there was only one other offer for this project and the city made their decision based off of what developer was financially stable to rebuild these homes. Although there were a lot of stigmas, Ross and his team won the bid at $1 per house… which equals out to 36 homes. Yes, the houses were $1 per home, but that does not include the cost of construction and how long each house would take to reconstruct Ross explains. This turned to be a phenomenal project for Rodney and his team in the long run. Of course he explains some hardships along the way such as the city watching everything they do to these properties, permit processes etc.

Rodney then moves on to sharing his real estate journey has reach 8 years of experience.

Contact Information:

For more information on the Osage Pine Project: http://osagepine.com

IG: phillyrealestateboss