Peer 2 Peer Real Estate's podcast

Everybody can show interest in doing real estate and house flipping, but it takes real dedication and going out of your way to actually do it. For Michael Green of The Flip Factor, having a mentor was crucial to his current success. Starting out as a flooring installer, Michael’s curiosity and interest in the industry led him to a free meeting for house flippers where he met his first mentor. After just a few months of studying, he made his first deal flipping a house for $16,000 without a single penny off his money. In 2009, he was able to leave his full-time job to focus on flipping houses. Michael shares more details about his journey while offering great insights, wisdom, and practical tips on not only starting your flipping journey but also how to do it right where others are doing it wrong.

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For those who might not know, Illinois has enacted a new bill on Wholesaling. (See Below)

New law signed by Illinois Governor J.B Pritzker .

"Wholesalers Require Brokers License in Illinois. For any person, or entity, engaged in the business of Wholesaling real estate, you cannot wholesale more than one deal a year. ... The revision to the Licensing Act has been signed into law and has taken effect.Aug 14, 2019"

What is a Wholesaler to do?

With the new law being in full force in Illinois , and in all probability being enforced in most states if not all, A wholesaler business model should include a realtor on their team, or get licensed themselves to comply with the law.

Under the law, you are allowed one wholesale deal per year, unless you make $100,000 on that deal, it's best you get your license or partner with a realtor.

Working Together

The National Association of Realtors (NAR( is a powerful force, they see any non-realtor involvement as taking money from their pocket, possibly true, but then it's up to the realtor and investor to work together, and for the realtor to be open with working with investors, It all comes down to educating NAR members on real estate investing.

Conclusion

I think overall it's not a big deal, If investors get their license they will be adding to their own tool box of real estate education, and it's not so expensive to get your license anyway, depending on what part of the country you are from, for example in Illinois, to get your real estate license costs $180. The Illinois broker exam costs $55 and aspiring brokers must also pay a $125 license application fee. In addition, applicants must take 90 hours of pre

licensing courses, which cost $500 on average. This is a small investment to make, and like I said before, it's adding to our own repertoire of education in the business.

Read more about the Illinois law

http://flosslaw.com/blog/wholesale

Today's NYC Real Estate News.

WeWork Mess

You can find me at :

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**Peer 2 Peer Real Estate may be compensated and/or receive an affiliate commission if you buy something through our links, at no extra cost to you.

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Don't forget about our monthly events, go to RedinNYC and get your tickets .

www.redinnyc.com

FREE NYC Real Estate Monthly Networking at Monarch Rooftop!

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Get the latest New York Real Estate News

https://therealdeal.com/

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You think of Manhattan as the business center of the country, maybe even the world. However, changes in the rental laws have negatively affected landlords now and will impact them for years to come. In this episode, Eric Michael of Nova Property Management brings to light the political background of these rental law changes. The reforms made may have good intentions from a tenant's perspective but, as Eric explains, they are going to move property owners to either serve a smaller segment of tenants, deprioritize property maintenance, or lose the business altogether. This episode is a step closer to finding the answers for puzzled landlords.

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This is a repeat show from 2018. New episodes will back starting next week.

On today’s show I wanted to talk about due diligence before investing in a property. My due diligence consists of mostly websites, and a couple of calls I make 

I can’t go into a investment without knowing a few things about the property, but before I do that I begin with the following.

Searching

1. Usually it’s realtor.com, Zillow or on occasion craigslist, or if I’m registered with a realtor some of them send me properties.
2. Once I find a investment property I’m interested in, I’ll go to Zillow and check out the county website, and see who is the owner of the property. Sometimes it might be a absentee homeowner who happens to live out of state or the property could have been taken back by the lender. On the same county site I will check out the yearly property taxes, and for insurance you can call geico, state farm, nationwide, etc. and get a quote .
3. Next I go to trulia heat map and check out the crime in the area I’m interested in. I also might check out spotcrime.com or crimereports.com 
4. Then I look at neighborhood comps, if I don’t have access to the MLS, I can use propertyshark.com, or Zillow solds in your area To find the latest property 
5. I use walkscore.com, to see how close the property is to downtown or what amenities they may be in the area. If the crime rate is low, and it’s close to walking distance to all, and the numbers make sense by numbers I mean for instance the rents in the area, and I usually go to rentometer.com to find the average in the area.  
6. Then I will call either a property mgr or a police non-emergency line to ask if the mgr would consider managing my property in the area I’m interested in . Or the non-emergency police line to ask if it’s a good area to live in. 
7. After due diligence is done, if I’m using the free sites to search, I’ll call the listing agents to make an offer. 

Websites I use

www.realtor.com

www.craigslist.com

www.trulia.com

www.crimereports.com, www.spotcrime.com 

www.propertyshark.com

www.walkscore.com

www.rentometer.com

You can find me at

www.facebook.com/peer2peerrealestate

https://p2pre.com/

https://www.linkedin.com/in/williemorales/

http://bit.ly/2xmqYJmP2PRE ->Youtube

"Keep the momentum going, Good things will happen"

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On this encore show from 2017, I talk about starting your own library if you can't afford a mentor, coach, or that $35,000 course :-)

Then these books might be the way to go, i've read all of them and believe me they are worth the time and effort.

On today's show I talk about

1. Books to get your mind on the right path
2. Real estate books to get
3. Creative Books on Real estate

Part 1: Mindset

1. Think and grow Rich- Napoleon Hill
2. Rich Dad Poor Dad- Robert Kiyosaki
3. The Success Principles- Jack Canfield

Part 2: Real Estate Books

1. Cash Flow Quadrant - Robert Kiyosaki
2. What every real estate investor needs to know about cash flow- Frank Gallinelle
3. The Millionaire real estate investor- Gary Keller
4. The ABC's of real estate investing- Ken Mcelroy
5. Hold- Linda Mckissack
6. The ultimate beginners guide to real estate investing - Biggerpockets.com

Part 3: Creative Real Estate

1. The Art of Owner Financing - Mitch Stephen
2. Lease option and subject to deals- Wendy Patton
3. The art of Wholesaling - Aram Shah/ Alex Virelles
4. The 16% Solution- Joel Moskowitz

You can find me at

www.facebook.com/peer2peerrealestate

https://p2pre.com/

https://www.linkedin.com/in/williemorales/

http://bit.ly/2xmqYJmP2PRE -Youtube

Please go to Itunes look for us at Peer 2 Peer Real Estate podcast subscribe and leave a rating and review .

“Remember to keep your dreams alive, Don’t let anyone talk you out of your goals. It’s your life, not anyone else’s. Keep that momentum going, and good things will happen”

Peer 2 Peer Real Estate may be compensated and/or receive an affiliate commission if you buy something through our links.

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https://royallegalsolutions.com/?ref=6

Thank you for listening.

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On today's show Lori talks about using tools for your business receipts and not dropping off a shoe box of receipts for her to sort out!

About Lori Murray

My bookkeeping experience started in 1991 when my husband, who is a serial entrepreneur started his first business. Since that time we have raised 3 beautiful daughters, I started my own bookkeeping business and acquired my Real Estate Brokers license. 

During the 4 years I practiced traditional Real Estate, I forged many great relationships to build a strong team for my clients. I closed 83 deals for a total over $20 million with my best year being almost $10 million. All of my flips were financially successful and I fully understand the challenges of the real estate strategies for traditional real estate, wholesalers, landlords and flippers. Now I have combined my 25+ years bookkeeping experience with my real estate experience and can provide additional value to serve your needs!

What Balanced Bookz does for it's clients

Bank & Account Reconciling

Customization to meet your needs

Tax Preparation and Planning

Reporting

Accounts Receivable

And much more................

Tools mentioned on the show

www.dropbox.com

www.hubdoc.com

www.neatscanner.com

www.quickbooks.com

You can find Lori at:

Website – www.balancedbookz.com

 Facebook - https://www.facebook.com/BalancedBookzBookKeeping/

 LinkedIn - https://www.linkedin.com/in/lori-murray-bookkeeping/

 Contact Info – [email protected] – 602-723-9662

You can find me at :

www.facebook.com/peer2peerrealestate

https://p2pre.com/

https://www.linkedin.com/in/williemorales/

http://bit.ly/2xmqYJmP2PRE ->Youtube

Peer 2 Peer Real Estate may be compensated and/or receive an affiliate commission if you buy something through our links.

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Get asset protection

Thanks for Tuning in

Please go to Itunes subscribe and leave a review.

Keep the momentum going, Good things will happen.

Keywords

#peer2peerrealestate #balancedbookz #bookkeeping #realestateinvesting #nyrealestate

#podcasthost #nycpodcaster #lorimurray

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About Whitney

Whitney Nicely went from no investments (or strategies) to 19 houses, 19 apartment units and 7 chunks of land in less than 3 years all bringing monthly money to her bank account on auto pilot. 

She has traveled the United States speaking on stages, teaching her simple strategies, and meeting with other successful real estate investors.

Since 2016 Whitney has led and trained hundreds of future real estate rock starts to grow their portfolio's, collect checks and achieve financial freedom.

There was a traditional Southern girl who went to college, joined a sorority, and did all the right things (sometimes the wrong ones, too, but let’s keep that between us). She graduated basically on time and went to work at her mom’s trucking company.

She was expected to do what she was told and keep her opinions–and she had A LOT of those–to herself.

*IF* she didn’t cause any trouble, she’d inherit the family business in 50 years or so… that was the promise. And when that day came- she would be looking forward to fourteen-hour workdays, and worrying every minute when she wasn’t in the office about all the things that could go wrong.

For the rest of Whitney's story.......

You can find Whitney at

https://shebuysit.com/

https://shebuysit.com/podcast/

https://www.linkedin.com/in/whitney-nicely-b305764b/

Next Whitney event

https://shebuysit.com/events/

You can find me at

www.facebook.com/peer2peerrealestate

https://p2pre.com/

https://www.linkedin.com/in/williemorales/

http://bit.ly/2xmqYJmP2PRE ->Youtube

Thanks for listening.

please go to Itunes subscribe and leave a review

Keep the momentum going, Good things will happen

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About Bruce Dinger

Bruce specializes in Real Estate Investing and Stock market investing

With over 30 year experience in business, Bruce has been a much sought after speaker and consultant in the financial services, sales, and business process arenas.

Bruce has spoken on some of the largest stages around the globe, including CNBC, BusinessWeek, SuccessMagazine, The Woman’s Financial Conference, Rich Dad’s, On-Line Trading Academy, Success Resources and many others.

Bruce has a 360 degree background when it comes to business, having started companies from the ground up, bought and sold companies, as well as taking a company through the IPO process.

While Bruce can tailor a speech to any aspect of business you request, some of his favorite areas are business and sales process efficiency and working with companies to streamline their operations thus helping them to improve their bottom line.

Whether your group is large or small, Bruce will use his vast knowledge to cater to your organization’s needs.

Thank you Bruce for being on Peer 2 Peer Real Estate Podcast

You can find Bruce at:

Brucedinger.com

[email protected]

Questions? Phone: (855) 272-1267

https://www.facebook.com/brucedingerfan

You can find me at:

www.facebook.com/peer2peerrealestate

https://p2pre.com/

https://www.linkedin.com/in/williemorales/

http://bit.ly/2xmqYJmP2PRE -Youtube

Please go to ITunes -Peer 2 Peer Real Estate Podcast and subscribe & leave a review.

Keep the momentum going, Good things will happen.

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Don't trust anyone just yet: Due Diligence is a must with a potential business partner.

Some of you might know that currently i'm very sour on Business Partners, and you might wonder why then the podcast on vetting a partner?

So you can learn from my mistakes, trusting someone is not enough anymore we must learn what our partner is all about, do they have the same goals as you do, are they trustworthy? etc.

On today's show I talk about a few ways to vet your potential partner, and to be honest I wish I had done this myself, I would have saved tons of grief and stress. The article below gives you a step by step process on what to look for in a business partner, I added a couple myself.

Please!! Don't think that you shouldn't partner with anyone, I'm just talking of what I went through and should have done.

If you and your partner are aligned with the same goals, then go for it, don't let a sour puss like me ruined it for you, just always do your due diligence, it won't hurt to do so.

In Real Estate News.

Have a vacant storefront? You will need to report it.

https://therealdeal.com/2019/08/13/the-economic-realities-behind-the-citys-storefront-tracker-bill/

Thank you Gerri Detweiler for this guide.

https://www.nav.com/blog/ultimate-guide-vetting-business-partner-28382/

In this article Gerri dives into ways to find out about a potential business partner, I added some extra ways myself.

• Credit check, if they have a business you can check with Dun & Bradstreet, remember, whenever we need a bank loan, the first thing they check is our credit, Landlords do the same thing, check our credit history. So asking your potential partner how is their credit shouldn't offend them.
• https://www.dnb.com/
• If you feel you must partner with them, try a joint venture agreement, which is one deal, and if you feel you can go forward with this person then.....
• Put everything in writing with a lawyer, if you both can't afford one, then look towards Legal Zoom, which I have used before, have your doc's notarized after you both sign the operating agreement of the business.
• https://www.legalzoom.com/
• Did you meet your future partner at a meetup? networking event?, or some other business function, maybe they know people at these events, ask questions about them, see what type of feedback you'll get, this can help you cut out some of the middlemen and base your decision on what you learned about them.

You can find me at:

www.facebook.com/peer2peerrealestate

https://p2pre.com/

https://www.linkedin.com/in/williemorales/

http://bit.ly/2xmqYJmP2PRE -Youtube

Please go to Itunes, subscribe and leave a review, Look for Peer 2 Peer Real Estate Podcast.

Keep the momentum going, Good things will happen.

Thank you for listening.

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The importance of networking

I'm pretty sure you heard the title of this episode before right? And if you have, you know that you are the average of the people you associate with.

I found this out years ago when I realized that my network consists of friends who rather watch TV, spend their leisure time going out, etc.

I didn't want that anymore, I wanted to have more substance, I wanted my businesses to flourish and that meant meeting like minded individuals,

of course the hard part is for anyone who might feel a bit shy to go to networking events on their own.

There are communities online and live events for anyone to choose from, so if you are people shy or a social juggernaut there's plenty of opportunities to pick from.

Below is a list of online and live events that either I attended or someone has recommended to me.

In New York City Real Estate News: Is the area around Citi Field in Queens ready for a revival?

https://therealdeal.com/issues_articles/willets-point-development/

Book I recommend

Networking is a contact sport - Joe Sweeney

These are some recommendations from myself and others.

Online community

https://www.biggerpockets.com/

https://connectedinvestors.com/

https://www.facebook.com/

https://www.linkedin.com/feed/

https://www.meetup.com/

Networking Events Dates & Locations vary

https://www.meetup.com/NYC-Flippers-and-Funders-Meetup/

https://www.bni.com/

https://www.redinnyc.com/

https://therealdeal.com/trd-events/

https://www.chamber.nyc/

http://bit.ly/2OHEId6MCC -Manhattan chamber of commerce

https://hispanicchamber.nyc/events/

https://nationalreia.org/

https://www.reianyc.org/

http://www.unanyc.org/events/index.html

https://www.eventbrite.com/e/national-small-business-chamber-of-commerce-manhattan-networking-event-tickets-67803687655

https://www.meetup.com/New-York-Real-Estate-Investors-Association/members/13113622/

You can find me :

www.facebook.com/peer2peerrealestate

https://p2pre.com/

https://www.linkedin.com/in/williemorales/

http://bit.ly/2xmqYJmP2PRE -Youtube

Thanks for listening.

Keep the momentum going, Good things will happen.

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