After an up and down career in the corporate world, I decided I had enough and wanted to start investing in South Florida Real Estate. After all, the baby boomers were maturing; the economy was humming along and everyone from where I'm from (Philadelphia - Home of the Eagles, soft pretzels with mustard, hoagies) wanted to retire in Florida. I though I was real smart. After all, I dabbled with Real Estate in Puerto Rico and was moderately successful. Man, was I WRONG! I should have gotten a Mentor to guide me!
Some of the many benefits my associates and MREIA members receive are the experience we offer them and because of the networking, the benefit of everyone else's experience.
If you are a newbie (new to real estate) having someone, a mentor, to ask questions is a blessing. I am always saying - "Look at all the mistakes I can tell you about and how to avoid them while pursuing a deal or making a purchase."
One of the things as a Newbie, that took me a while to grasp, was creating a business entity and team building to help achieve our objectives, reduce mistakes and limit risk.
Below is a brief outline of items you should address to help you get started in your real estate investment career or hobby:
Before you Start Looking for Deals:
Next Step: Finding the Deal
Take the 1st Step with Someone!
Bob Burns
Check out our Mentorship Program Outline at:
http://www.investmentpropertiesmiamiflorida.com/?page=consulting
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Where:
Courtyard Marriott, Miami Lakes,
15700 NW 77th
Court,
Miami Lakes, Florida 33016
Hotel
Phone: 305-556-6665
(Click "HERE" for Map
Location)
(Click "HERE" to Enter your
Address for Directions to the HOTEL)
Click "HERE" to view
Sponsorship Benefits!
Note:
Cut & Paste this link: http://tinyurl.com/2ewtw5 into
your Browser if Link does not work.
PS If you would like to be added to MREIA's data base or have some questions about MREIA, please contact Bob at 305-300-6242.
Note: Cut & Paste this link: http://tinyurl.com/2ora4n into your Browser if link does not work.
P.S. I forgot to add this from my previous blog today. I am having a webinar tonight, Thursday, November 20th, 2008 with Tom Nardone, "Millionaire Mailman" on Option Auctions. Call me at (305) 300-6242 or Toll Free at (866) 938-4308 or email me at rkburns@investmentpropertiesmiamiflorida.com for more info.
Here is the teleconference information:
Here's the information for the call:
Dial in 8:00 PM EST for MREIA's Tele-Seminar on Option Auctions!
Dial In Date: Thursday, November 20th, 2008
Dial In Times:
8:00 PM EST
7:00 PM CST
6:00 PM MST
5:00 PM PST
Dial In Number: 712-432-9998
Passcode: 392064#
(Make sure you enter the Pound Key)
10) Never paint Latex paint over oil base paint. What happens?
Answer:
9) To make sure there are no surprises, make sure the property you are rehabbing, the mail is sent to your place of business. Hint: tax payments, lien violations, etc...
Answer: I purchased a major rehab in Miami Florida that had a collapsed roof, fire damage, etc. You name it, it had it. In the long run, it turned out to be one of the best learning experiences I had while working in the Rehab Business.
Anyway, I neglected to forward the property's mail to my business address. I just forgot about it. As it turns out, there existed an unsecured structure lien from the City of Miami, Florida. This type of lien accumulates $250 per day and this property was abandoned for a long time! My title company for some reason missed it or I missed something during the closing (Rookies!).
So anyway, I didn't have clear title. The City was sending out notifications but I was not receiving them because I didn't have the mail forwarded.
By the time I found out about it, the fine accumulated to $500K. It was more than the value of the property! Image my surprise and heartache.
I finally resolved the problem but that is a future blog as to how I managed that.
Front View after some rehab work!
Bonus: FREE Wholesaling ebook and other bonuses: robertkburns.com/recommends/learntowholesale
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Educating Investors in Real Estate Investment Strategies that produce multiple streams of Cash Flows or Assets.
Robert K. Burns arrived to South Florida from Puerto Rico in 1988. He started investing in various assets while living in Puerto Rico and continued here in South Florida. His experience includes buying pre-foreclosed properties, tax lien purchases, buying and selling discounted paper, rehabbing various sized properties from single-family homes to multi-unit buildings, education and consulting. He enjoys helping investors achieve their investment objectives by providing his experience, resources and knowledge.
Bob,
I just wanted to congratulate you on last night's meeting, it was amazing!
Your wife Alex gave some great tips on performing Short Sales and Paul Woods presented some incredible information about Florida Land Trusts.
My company, Apex Title & Escrow, has found that being a corporate sponsor for the MREIA is the best value in town.
Where else can you present information about your company to a targeted group of people, as well as having your own table, for only $30 per meeting?
Thanks again for everything.
Best regards,
Joey Rodriguez
President
Apex Title & Escrow
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