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Archives for August 2013

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How Accurate Comps Can Make or Save You Thousands with Linda Dana in Atlanta, GA

By Charlotte REIA on August 15, 2013
Mon, August 19th @ 6:30 PM - Sandy Springs, GA
The Beginning Investors Group
How Accurate Comps Can Make or Save You $1000's on Your Next Deal
with Linda Dana on Monday, August 19th
Non-Members RSVP Online for $10.00 or $20 at the door.
Atlanta REIA Members are always FREE!

Linda DanaJoin us at the Beginning Investors Group on Monday, August 19th at 6:30 PM at the Hudson Grill located at 6317 Roswell Rd NE in Sandy Springs, GA where property evaluation expert, Linda Dana, will be teaching new investors the art and science of "Determining Accurate Property Values". Linda is a long time real estate investor and "transaction engineer", a mentor and the President of Charlotte REIA.

Knowing "How to Determine Accurate Property Values" is a highly critical skill that we must master as real estate investors in order to create profitable deals.

As investors, we determine a property's value by "pulling comps" using property evaluation websites, software or the MLS. By "comps" we mean recent "comparable sales" of other properties in close proximity to our subject property that are similar in age, bedrooms, baths, square footage, lot size, style, amenities, etc.

We gather this recent sales data and analyze the high sales, low sales, average sales and distressed sales to determine the properties current "As-Is Value" as well as the "After Repair Value". We must carefully determine which comps we include in our calculations and which ones to exclude if they are not truly "comparable". We then carefully calculate our offer(s) to the seller based on these numbers.

If we get these numbers wrong and think the property is worth less than it really is, we may offer the seller too little and lose the opportunity to buy the property and any profit we would have made to another buyer who is willing to offer more.

If we think a property is worth more than it really is in its present, as-is condition or fixed up, we may pay too much and lose thousands of dollars when we sell. For example, if we are off by $5,000 to $10,000 on the properties value, our anticipated $5,000 profit on a wholesale flip may quickly evaporate.

Most investors don't want to hire an appraiser to determine the value of every house they make an offer on, nor do they want to rely on a Realtor to determine these critical numbers for them. Therefore one of the first skills every new investor must master is how to determine accurate property values by pulling comps and doing the research themselves.

Join us at the Beginning Investors Group on Aug 19th where Linda will teach us...

If you want to learn to put more money in your pocket and leave less on the closing table, this is a BIG Meeting you don't want to miss!

Remember, Retail Buyers buy based on emotion... Investors buy based on the numbers. Join us at BIG to learn more about how to determine these important numbers!


Island REIA - Jamaica - June 2014

By Charlotte REIA on August 11, 2013
Island REIA
Jamaica - June 2014

“How I wish that somewhere there existed an island for those who are wise and of good will.” ~ Albert Einstein

More info is coming soon. Dustin is headed down to Jamaica in August to check out the all-inclusive resort where we will be staying.