Archive | August, 2011

Mark Your Calendars: Private Money Lending Session with Alan Cowgill

25 Aug

Click image for Alan Cowgill Website

Our members tell us their number 1 roadblock to investing in real estate is a lack of funds. So, we’re bringing in private money guru Alan Cowgill September 8th at 7:30 pm.

Since 1995, Alan has bought and sold over 200 investment properties using Private Lenders, not banks; to fund his real estate purchases. By doing this, he has created his own private bank of $2,000,000 in funds. Alan looks for “Win – Win” situations, where the seller, the lender, and the eventual homeowner can all “Win”. He is not a Realtor,but a Private Investor.

Some of what Alan will be sharing with REIA of Oakland members:

  • The basics of raising private money
  • How to attract potential private investors to a luncheon
  • How to host a luncheon for the highest success
  • Who to target as prospects and where to find them
  • Pitching prospects one-on-on
  • How to establish credibility with prospective private lenders
  • When & how to legally accept private funds
  • What legal documents need to be used
  • How to avoid getting in legal trouble

Alan Cowgill is the owner of Colby Properties, LLC.and President of Integrity Home Buyers, Inc. He’s been a Real Estate Investor for over 30 years, investing in single family and small multi-family properties in Springfield, Ohio. He’s been a national speaker for over 15 years.

For details about the event please visit our website

Full Disclosure E. Alan Cowgill & Integrity Home Buyers, Inc. were the subject of an Ohio Division of Securities Cease and Desist Order/Consent Agreement in April of 2007, for not properly disclosing company financial information and representing their investments as “guaranteed, low risk and safe & secure”. According to Mr. Cowgill, he voluntarily contacted the department to be sure he was in compliance. The order can be confirmed  HERE:

Why is It Important that REIA of Oakland is Not for Profit?

15 Aug

There are new real estate investing groups popping up like weeds lately.  Unfortunately, many of them are FOR PROFIT, and have arrived on the scene to take advantage of the rocky real estate market that Michigan is navigating right now.  These new, FOR PROFIT groups have one goal in mind, to make a profit.  Now, there’s nothing wrong with making a profit.  However, when it’s the group that is supposed to be looking out for your best interests and educating you on how to maximize your investment strategies, it creates a conflict of interests.  If the group is for profit, they are going to be selling you Kits, DVD’s, Books, Seminars, Classes, Bootcamps, and anything else that they can think of, for hundreds and even thousands of dollars, whether it’s in your best interest or not.

Why?  Because if they don’t, they’re not making a profit. REIA of Oakland, on the other hand, is run by unpaid volunteers.  We have only one paid, part-time employee.  All the money that we bring in is used to run the group and bring you the best services possible.  This is why at REIA of Oakland, you will see more unpaid, local experts bringing you relevant, timely information at our monthly meetings.  REIA of Oakland purposefully limits speakers selling products to 4 times per year or less, and we screen them to try and bring you only the very best.  REIA of Oakland’s goal is to make its members the most educated and professional real estate investors in the country.  Not to sell you products.

 

In Investing, Price Matters!

9 Aug

Written by Rick Pridemore

With the increase in buyers searching listings on their own, using the internet and other tools, care must be taken to understand how pricing impacts the visibility, and thus selling opportunities, of your property.

In the old days, when buyers had to rely on lawn signs, they typically would drive around neighborhoods looking for attractive houses.  When they found one, they would call the listing agent and request the price.  The listing agent would spin their best sales pitch before giving the price.  After getting the price the prospective buyers would decide whether it was in their price range and if so, schedule a showing.  In this scenario, the exact listing price is meaningless in attracting the buyer’s inquiry.  Regardless of whether the house was priced at $299,999 or $399,000, the initial call was generated by the neighborhood and curb appeal. This system forced buyers to call on properties regardless of the listing price to get more information.  This gave the real estate agent an opportunity to sell the features of the property before giving the price.  It also exposed buyers to a wider price range because the only indication they had of the potential price of a home was the general market area.

The internet, however, has changed everything.  Buyers can now search for properties based upon city, school system, bedrooms, bathrooms, architectural style, and a myriad of other criteria.  Price, however, still remains the number two search parameter, second only to location.  Because of this, you must price your home very carefully to ensure that it shows up in the greatest number of searches, and to the correct audience.

Event: Orlans Associates Share Inside Information On Michigan Foreclosures & Short Sales

3 Aug

Through over a year’s persistency we’ve finally been able to arrange for personnel from Orlans Associates, one of Michigan’s top foreclosure companies, to share their knowledge & experience on the latest regarding foreclosures and short sales.

This is all specifically about what’s happening with Michigan properties, not useless internet information about California, Arizona, Florida, etc.
Some of the topics & information that will be covered:

Tips on buying property at Sheriff Sale or at the end of Redemption. Which is better?

  • The number of foreclosures Orlans processes that are upside down.
  • Inside statistics on the percentage of foreclosures where lenders are bidding less than their mortgage debt owed.
  • Details on the short sale process, what lenders will settle for and success rates.
  • Angles on buying properties using short sales and how to avoid the hurdles.
  • The types of fraud Orlans and eTitle personnel see with sales of REO & short sale properties.
  • Their opinions on how real estate investors can best profit from foreclosures & short sales.

You won’t find this information anywhere online, so attendance is a must!
Orlans Associates & eTitle were both started by Linda Orlans and are now one of the largest foreclosure and short sale companies in Michigan.
Be sure to mark your calendars for this event.