Are you able to leverage your credit or is it holding you back?

WHEN:  Thu 5/15, 2014credit pic

WHERE:  Hyatt Place, 116 Riverside Ave, Medford, MA

Thursday 5/15; 5pm – 5:30 pm for Members of Boston AREIA ONLY before the May monthly meeting!

Members join us for a special coaching session focused on Credit!  Are you able to leverage your credit or is it holding you back?  Veteran Mortgage Pro Ric Beaudoin of Sage Mortgage.  This is not a Credit Repair session, however, Ric will cover:

• The basic facts of credit reports
• What is and is not included in the credit report or credit score
• Why use credit scores
• Components of a credit score
• Statistical weights
• Consumer rights
• Correcting and improving credit scores

P4178105Followed by OPEN NETWORKING from 5:30pm – 6:30pm, the energy has been building every month!  Make sure you bring tons off business cards and save some for the forced networking section!

Thursday’s topic is all about exit strategies…you’ve got the property under contract, NOW WHAT???

Click here for all of the meeting details!

 

 

 

How does "forced networking" help you flip properties

P4178105 I have people ask me all the time, “What is ‘forced’ networking and how exactly does it help me flip properties in the Boston area?”

Forced networking is for everyone.  Originally we started doing it at Boston AREIA for the wall flowers of the group.  You know the people who are uncomfortable walking up to someone and saying, “Hi, my name is ……………….. and I’m a new investor and I want to meet…”   I wanted to give those folks a way to get business cards from people so they could call them up later and meet with them.  But, it’s turned out to be one of the favorite sections of our meetings.  For the wall flowers and everyone else as well!  During our forced networking section, we bring different groups of people to the front of the room…for example, “Can all the wholesalers come up to the front of the room…now, everyone who wants someone else to find them deals, come up and exchange business cards, don’t talk for 5 minutes, exchange business cards and move to the next person…”  This is the fastest form of speed networking that you will find.  We don’t give you 5 minutes, we give you 5 seconds to exchange business cards so that you can connect with the people you want to after the meeting in a one on one setting.  Wholesalers love it because they are able to increase their buyers list quickly.  Rehabbers/Flippers love it because they get a whole new group of people looking for properties for them.  Realtors and lenders love it because they get a whole new group of people that they can connect with where real estate is concerned.  And, you know what happens when you connect an entire group of people focused on flipping properties in some form or another?  Deals get done!  So, forced networking most definitely helps you to flip properties.   Check out some of our pictures from our last meeting…we began with a coaching session, then went to regular networking, then forced networking, then speakers for education.  If used properly, your Boston AREIA meetings will help you build your power team and help you make connections, business partners and friends that you will work with the rest of your life!

Yours in success, Bernadette Trafton, Boston AREIA Chief Connector

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Thur 4/17 was a ROCKIN' meeting about funding!

OLYMPUS DIGITAL CAMERAThursday’s meeting was absolutely ROCKIN’!  Standing Room Only!

These are just some of the comments we got:

Anya wrote, “A can-do approach to real estate investing!”

Ann wrote, “There was a lot of great information!”

Karen Lee wrote, “This was my first meeting with BostonAreia and it was full of invaluable info on raising capital. I initially went to get more info on the IRA funding for real estate but left with a bunch of new ideas. Many thanks to Bernadette for arranging this meet up. I’ll be back.”Bernadette Trafton, Chief Connector

Kathryn Acciari wrote, “Good morning Bernadette,It took me a few years, but I finally made it to a meeting and I am very happy to have done so.  Last night was quite informative, and I am excited to be looking at next steps. What a friendly and professional group of people you have at BostonAREIA.  I hope to be a regular attendee at the meetings and to also be able to provide folks with some connections and leads in Worcester County.  There are deals out here.  Thank you!”

First, I want to thank the members that took the time to walk up to me to thank me for such a great meeting and thank you to those who took the time to send a quick note!  I love the members of Boston AREIA!!!  Kathryn is absolutely right about what a friendly and professional group of people we have.

A quick recap…So, we started our 5pm coaching session which focused on building and developing your connections through networking.  I hope that everyone got a lot out of it and if you are a member of Boston AREIA and you want a copy of the powerpoint, make sure that you contact me at dette101@gmail.com.  Remember folks, it’s important to contact the people you met at the meeting no later than Tue and plan to get together for coffee.

OLYMPUS DIGITAL CAMERAWe began the meeting and of course, everyone knows that ENERGY IS EVERYTHING!  The energy you put into something is what you will get out of it.  So, first 5 lucky investors had their business cards pulled out of the proverbial hat and were given the opportunity to stand up and promote themselves to the group.  We followed this with forced networking…which gave folks the opportunity to exchange business cards fast and furious with rehabbers, wholesalers, investor savvy Realtors and more…I think that section is a favorite among our investors!

We followed the networking section with Dickens Pierre-Louis putting together a market update…we actually sped through this section because we had so much jam packed into the meeting…I will be posting this soon.  Thank you soooo much Dickens!  Our mentee, Mike Fitzpatrick got up and talked about how he and Jacqui are progressing and asked if folks could please vote on their logo – check out the blog post!  Then, Peg Graveline and Lisa West of JEM Property Group and Dan McKenna of Mckenna Family Homes walked through the numbers of the Walpole deal!  They made it real and dispelled some of those beliefs people get from the flipping houses shows on tv.  After that, we introduced our phenomenal panel of funding experts.  Peter McLoughlin talked about hard money, how it’s used, what a lender will expect from the borrower, one of the hottest topics based on questions asked by the group, was Investing through your IRA with Kevin Collins of Advanta IRA, then Ric Beaudoin of Sage Bank went over traditional lending, Kim Harrington covered how to develop your funding partners and Peg Graveline covered JVing with other investors to get your deals done.  What a great night!  I have to tell you, I had more people walk up to me at the end of the meeting to tell me how much they appreciated the programming and the speakers!  Thank you so much to Peter, Kevin, Ric, Kim and Peg!

Next month, we are doing a special coaching session from 5pm – 5:30pm for members.  Ric Beaudoin is going to come back and he’s going to go over becoming credit worthy for those with credit problems and maximizing your credit score with those who don’t have issues, but would love tips to get your score as high as possible.  After that, it’s all about exit strategies….so, the contract is signed, NOW WHAT?

See you next month!  And, remember, if you need something or if I can help with anything between meetings, feel free to reach out to me.  Happy Investing!

Yours in success,

Bernadette Trafton, Boston AREIA Chief Connector

Boston AREIA Diary of a Newbie Real Estate Investor

mike and jacquiDiary of a Newbie Real Estate Investor

with Mike Fitzpatrick and Jacqui Pietrzak

Since our last post Jacqui and I have been working closely with Peg and Bernadette to put together a plan for accomplishing our $50k profit rehab goal. Our focus right now is finding a property to buy. Recently we have been spending our time driving for dollars and meeting with local realtors to explain our goals.

If you have never tried driving for dollars, I think it’s fair to say your first time is going to feel awkward. It is hard to look normal when you are circling a neighborhood, slowing traffic and wondering if you look like kidnappers. Essentially our plan was to pull up to a distressed looking property, run out with our “we want to buy your house” flyer, wedge it in the door, then run back to the car as quickly as possible and drive off avoiding any human contact.

Realizing it is less creepy if we actually get out and speak to people, our second attempt went much better. Now that the weather is getting nice, something we are more comfortable with is “running for dollars”. We take our dog with us on the run as this makes us feel more “normal” and offsets the fact that we have a pocket full of flyers and a notepad to write down addresses.  People are willing to give you more information when you look like another neighbor walking around.

Time will tell if we end up with any leads, but it certainly was a good way to become more familiar with the neighborhoods in our area. Through some of these conversations we learned about other houses that were already being rehabbed. At first the thought of another rehabber in my target neighborhood was a bummer to us because we felt someone else beat us to the deal. But we are currently trying to get in touch with these other investors so we can learn from them and see if we could work together in the future.

We have also started setting up meetings with brokers in the metro-west area that are interested in working with us to find rehab and multi-family buy and hold deals. Anything within a 20-30 minute radius of Framingham is what we are looking at. If you are interested in working with us please drop us a message at mike@fitzproperty.com or jacqui@fitzproperty.com and we can set up some time to talk.

In the next couple weeks we are planning on launching our company website and first direct mail campaign. We are trying to narrow down our favorite logos for our company, stay tuned for a voting poll in our next blog post!

Mike & Jacqui

What to expect on March 20th at Boston AREIA

Bernadette Trafton, Chief ConnectorWe are having a blast mentoring Mike Fitzpatrick.  He’s working with his partner Jacqui Pietrzak, look for their next blog post.  They’ve been driving for dollars, working on their website, putting together their first direct mail marketing campaign and presenting potential deals to Peg and I.  Super proud of them!  I’m watching a power couple develop!  WOHOO!

It’s the LAST day to get eligible for this month’s workshop at 5pm.  I will be downloading real estate leads from a few lead sources and giving them to the folks who come to the session.  I need to know now who is coming at 5pm.  If you don’t qualify by midnight tonight, you won’t be able to join us at 5pm before the monthly meeting!  Find out if you are eligible!

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Most of you have said that you are interested in saving money on your electric bill and going green. Some of you have switched to Viridian, many of you have not.  All of you raise your hand when I ask if you recycle, most of you agree if you had the ability to make 10 times the carbon impact without it costing you, you would.  I know time gets away from you and you forget.  I get it.  We have invited Reps to help you with the 3 minute process it takes to make the switch on Thursday night – BRING YOUR N-Star or National Grid bills with you.  It costs you nothing, takes 3 minutes, can save you money over time and you choose green.  All who take action will get a special opportunity during our “forced networking” segment.

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Thursday, March 20, 2014 – Is fear of making an offer holding you back?

***Special opportuniy to for MEMBERS of Boston AREIA, we are shaking up our forced networking section…those who get there early will be rewarded!

Monthly Meeting – The question I get most from investors is, “Ok…so, I find a property…how do I make sure all the bases are covering when making an offer and putting together a P&S?” Well this meeting will dispel the fears that are holding you back from making offers!   For all details visit – http://bostonareia.com/resources/upcoming-events/

Become a member today – http://bostonareia.com/about-us/membership-plans/

Attention Boston Flippers – 7 Common Small business tax Misperceptions

   Good morning Boston Flippers, I’ve been chatting with CPA, Joe Craft, here’s his advice:

One of the biggest hurdles real estate wholesalers, property flippers in Boston and around the country and really any small business owner will face in running your own business is staying on top of your numerous obligations to federal, state, and local tax agencies. Tax codes seem to be in a constant state of flux making the Internal Revenue Code barely understandable to most people.  The old legal saying that “ignorance of the law is no excuse” is perhaps most often applied in tax settings and it is safe to assume that a tax auditor presenting an assessment of additional taxes, penalties, and interest will not look kindly on an “I didn’t know I was required to do that” claim. On the flip side, it is surprising how many small businesses actually overpay their taxes, neglecting to take deductions they’re legally entitled to that can help them lower their tax bill.

Preparing your taxes and strategizing as to how to keep more of your hard-earned dollars in your pocket becomes increasingly difficult with each passing year. Your best course of action to save time, frustration, money, and an auditor knocking on your door, is to have a professional accountant handle your taxes.  To contact Joe Craft, CPA, who is an expert on real estate taxes for wholesalers, part-time flippers, buy and hold investors and more, email him at Joe@JoeCraftCPA.com, make sure you let him know that Bernadette from Boston AREIA sent you.

Tax professionals have years of experience with tax preparation, religiously attend tax seminars, read scores of journals, magazines, and monthly tax tips, among other things, to correctly interpret the changing tax code.  When it comes to tax planning for small businesses, the complexity of tax law generates a lot of folklore and misinformation that also leads to costly mistakes. With that in mind, here is a look at some of the more common small business tax misperceptions.

1. All Start-Up Costs Are Immediately Deductible

Business start-up costs refer to expenses incurred before you actually begin operating your business. Business start-up costs include both start up and organizational costs and vary depending on the type of business. Examples of these types of costs include advertising, travel, surveys, and training. These start up and organizational costs are generally called capital expenditures.  So, when you are learning to flip properties in Boston or wherever, chances are that expensive course that you just bought isn’t deductible.  Sorry.

Costs for a particular asset (such as machinery or office equipment) are recovered through depreciation or Section 179 expensing. When you start a business, you can elect to deduct or amortize certain business start-up costs.

Business start-up and organizational costs are generally capital expenditures. However, you can elect to deduct up to $5,000 of business start-up and $5,000 of organizational costs paid or incurred after October 22, 2004. The $5,000 deduction is reduced (but not below zero) by the amount your total start-up or organizational costs exceed $50,000. Any remaining costs must be amortized.

2. Overpaying The IRS Makes You “Audit Proof”

The IRS doesn’t care if you pay the right amount of taxes or overpay your taxes. They do care if you pay less than you owe and you can’t substantiate your deductions. Even if you overpay in one area, the IRS will still hit you with interest and penalties if you underpay in another. It is never a good idea to knowingly or unknowingly overpay the IRS. The best way to “Audit Proof” yourself is to properly document your expenses and make sure you are getting good advice from your tax accountant.

3. Being incorporated enables you to take more deductions.

Self-employed individuals (sole proprietors and S Corps) qualify for many of the same deductions that incorporated businesses do, and for many small businesses, being incorporated is an unnecessary expense and burden. Start-ups can spend thousands of dollars in legal and accounting fees to set up a corporation, only to discover soon thereafter that they need to change their name or move the company in a different direction. In addition, plenty of small business owners who incorporate don’t make money for the first few years and find themselves saddled with minimum corporate tax payments and no income.  Make sure when you begin your real estate investing, whether it’s wholesaling or flipping properties, you seek out the advice of a tax professional who can guide you in the right direction.  My recommendation is Joe Craft, CPA.  Joe@JoeCraftCPA.com, and make sure you let him know Bernadette sent you.

4. The home office deduction is a red flag for an audit. Click here to learn why Joe thinks everyone should own a home-based business!

While it used to be a red flag, this is no longer true–as long as you keep excellent records that satisfy IRS requirements. In fact, so many people now have home-based businesses that in 2013, the IRS rolled out the new simplified home office deduction, which makes it even easier to claim the home office deduction (as long as it can be substantiated).

Because of the proliferation of home offices, tax officials cannot possibly audit all tax returns containing the home office deduction. In other words, there is no need to fear an audit just because you take the home office deduction. A high deduction-to-income ratio however, may raise a red flag and lead to an audit.  For real estate investors who flip properties part time, owning a separate home based business can actually allow you to take far more deductions than you can by just flipping properties.  Home based businesses actually offer over 130 deductions that being a part time flipper does not.  Joe Craft believe that everyone, including part time flippers should own a home based business.  Click here to learn why and learn the deductions you can take that you can’t take as a wholesaler or flipper.  If you are interested in using a home based business to take advantage of those deductions, Viridian Energy, that is a vendor for Boston AREIA is a good option.

5. If you don’t take the home office deduction, business expenses are not deductible.

You are still eligible to take deductions for business supplies, business-related phone bills, travel expenses, printing, wages paid to employees or contract workers, depreciation of equipment used for your business, and other expenses related to running a home-based business, whether or not you take the home office deduction.

6. Requesting an extension on your taxes is an extension to pay taxes.

Extensions enable you to extend your filing date only. Penalties and interest begin accruing from the date your taxes are due.

7. Part-time business owners cannot set up self-employed pensions.

If you start up a company while you have a salaried position complete with a 401K plan, you can still set up a SEP-IRA for your business and take the deduction.

A tax headache is only one mistake away, be it a missed payment or filing deadline, an improperly claimed deduction, or incomplete records and understanding how the tax system works is beneficial to any business owner, whether you run a small to medium sized business or are a sole proprietor.

And, even if you delegate the tax preparation to someone else, you are still liable for the accuracy of your tax returns. If you have any questions, don’t hesitate to contact Joe Craft, CPA.  He has numerous years of tax experience, particularly in the field of real estate and home based business ownership.  He’s a rock star accountant and is there to help.

How to Set and Achieve Your Goals in Real Estate

How to Set and Achieve Your Goals in Real Estate

Ask yourself two questions. Do you have a Will? And do you have written goals for the next one, three, five and ten years? If you answered yes to the first question but no to the second, you are planning more for your death than your life. I challenge you to start setting some goals but remember if a goal isn’t in writing, it’s simply a conversation. It must be in writing and it must have a deadline. You must also have a commitment to your real estate investing.  You can’t expect to do this for a few months and then give up.  Make sure you are willing to give it at least 5 years before you walk away.  Here are a few guidelines …

Be Specific

Be specific and include details but start rough. This means you want a Mercedes. You don’t have to get into color, options, etc.… just write it down. Make your list huge. Come back and prioritize and determine what you want in one, three, six and twelve months, then three, five, ten and twenty years. The more goals you have, the happier you will be, the longer you will live, and the more prosperous you will be.

Goals Must be Believable

Your goals must be believable or you will not pay the price. They must be just out of your reach, but know you can reach them, if you really strive to do it.

Goals Must be Measurable

Don’t set a goal to be financially independent. You can’t measure that. Break it down to the ridiculous. I have learned that successful people set their goals quickly and make adjustments as they go along. Successful people don’t vacillate in indecision.

Goals Must be Congruent

Goals must be congruent with your actions. You cannot set a goal to work harder, longer hours AND a goal to spend more time with your family. Those are not congruent.

Visualize What You Want

If you see yourself as already having achieved the goal, you will fake out your mind and it sees the goal as having been achieved. It’s called “fake it till you make it”. Take a moment each day and visualize life as it is would be with your goals already accomplished.

Number Your Goals

Number your goals in the order of importance. Not only is the goal important but so is the reason. Sure your want more money, but why do you want money? Whatever it is, the reason must be there. The reason is more important than the goal itself.

Review, Monitor and Make Adjustments

Review, monitor and make adjustments to your goals. You have to be flexible. Some things are not going to happen, you have to face that but you need to continuously strive to get better every day.

Goals Must Have a Deadline

Your goals must have a deadline. A goal without a deadline is just a conversation. Set your goals in these four basic areas:

Financial

Set goals based on income, equity or net worth and cash flow. All of these are financial goals.

Fitness

This is your health. If you don’t feel good, you are not working at your maximum capacity. I want you to set some fitness goals to stay healthy. Start small and don’t try to tackle all of them at.

Family

Set family goals. What is an example of a family goal? Maybe you want to take four vacations a year. Maybe you want to visit a new state, three times a year or five times a year. You get the point.

Friends

Think about the people you associate with. Your ten closest friend’s annual salary and divide by ten…that is pretty close to your income. Who you associate with, is who you are like, so keep that in mind. Don’t get rid of your friends, just get more that are where YOU want to be financially.

Remember, real estate investing is a great way to help you achieve your goals, you have to have desire and commitment.  The time for action is now and its never to late to DO SOMETHING!

Tax Planning for Small Business Owners by Joe Craft

Tax planning is the process of looking at various tax options in order to determine when, whether, and how to conduct business and personal transactions to reduce or eliminate tax liability.

Many small business owners ignore tax planning. They don’t even think about their taxes until it’s time to meet with their accountants, but tax planning is an ongoing process and good tax advice is a valuable commodity. It is to your benefit to review your income and expenses monthly and meet with your CPA or tax advisor quarterly to analyze how you can take full advantage of the provisions, credits and deductions that are legally available to you.

Although tax avoidance planning is legal, tax evasion – the reduction of tax through deceit, subterfuge, or concealment – is not. Frequently what sets tax evasion apart from tax avoidance is the IRS’s finding that there was fraudulent intent on the part of the business owner. The following are four of the areas most commonly focused on by IRS examiners as pointing to possible fraud:

  1. Failure to report substantial amounts of income such as a shareholder’s failure to report dividends or a store owner’s failure to report a portion of the daily business receipts.
  2. Claims for fictitious or improper deductions on a return such as a sales representative’s substantial overstatement of travel expenses or a taxpayer’s claim of a large deduction for charitable contributions when no verification exists.
  3. Accounting irregularities such as a business’s failure to keep adequate records or a discrepancy between amounts reported on a corporation’s return and amounts reported on its financial statements.
  4. Improper allocation of income to a related taxpayer who is in a lower tax bracket such as where a corporation makes distributions to the controlling shareholder’s children.

Tax Planning Strategies

Countless tax planning strategies are available to small business owners. Some are aimed at the owner’s individual tax situation, and some at the business itself, but regardless of how simple or how complex a tax strategy is, it will be based on structuring the strategy to accomplish one or more of these often overlapping goals:

  • Reducing the amount of taxable income
  • Lowering your tax rate
  • Controlling the time when the tax must be paid
  • Claiming any available tax credits
  • Controlling the effects of the Alternative Minimum Tax
  • Avoiding the most common tax planning mistakes

In order to plan effectively, you’ll need to estimate your personal and business income for the next few years. This is necessary because many tax planning strategies will save tax dollars at one income level, but will create a larger tax bill at other income levels. You will want to avoid having the “right” tax plan made “wrong” by erroneous income projections. Once you know what your approximate income will be, you can then take the next step: estimating your tax bracket.

The effort to come up with crystal-ball estimates may be difficult and by its very nature will be inexact. On the other hand, you should already be projecting your sales revenues, income, and cash flow for general business planning purposes. The better your estimates, the better the odds that your tax planning efforts will succeed.

Maximizing Business Entertainment Expenses

Entertainment expenses are legitimate deductions that can lower your tax bill and save you money–provided you follow certain guidelines.

In order to qualify as a deduction, business must be discussed before, during, or after the meal and the surroundings must be conducive to a business discussion. For instance, a small, quiet restaurant would be an ideal location for a business dinner. A nightclub would not. Be careful of locations that include ongoing floor shows or other distracting events that inhibit business discussions. Prime distractions are theater locations, ski trips, golf courses, sports events, and hunting trips.

The IRS allows up to a 50 percent deduction on entertainment expenses, but you must keep good records and the business meal must be arranged with the purpose of conducting specific business. Don’t hesitate to call us if you need assistance with recordkeeping requirements.

Important Business Automobile Deductions

If you use your car for business such as visiting clients or going to business meetings away from your regular workplace you may be able to take certain deductions for the cost of operating and maintaining your vehicle. You can deduct car expenses by taking either the standard mileage rate or using actual expenses.

The mileage reimbursement rates for 2013 are as follows: 56.5 cents a mile for business, 24 cents for moving and medical miles and 14 cents per charitable mile.

If you own two cars, another way to increase deductions is to include both cars in your deductions. This deduction works because business miles driven is determined by business use. To figure business use, divide the business miles driven by the total miles driven. This strategy can result in significant deductions.

Whichever method you decide to use to take the deduction, always be sure to keep accurate records such as a mileage log and receipts. If you need assistance figuring out which method is best for your business, please contact us.

Increase Your Bottom Line When You Work At Home

The home office deduction is quite possibly one of the most difficult deductions ever to come around the block. Yet, there are so many tax advantages it becomes worth the navigational trouble. Here are a few common tips for home office deductions that can make tax season significantly less traumatic for those of you with a home office.

Try prominently displaying your home phone number and address on business cards, have business guests sign a guest log book when they visit your office, deduct long-distance phone charges, keep a time and work activity log, retain receipts and paid invoices. Keeping these receipts makes it so much easier to determine percentages of deductions later on in the year.

Section 179 expensing allows you to immediately deduct, rather than depreciate over time, up to $500,000, with a cap of $2,000,000, worth of qualified business property that you purchase during 2013. The key word is “purchase”. Equipment can be new or used and includes certain software. All home office depreciable equipment meets the qualification. Also, if you purchase more than $500,000 in equipment, you can expense the first $500,000 and then depreciate the rest. In addition, a “Bonus Depreciation” of 50 percent is allowed on qualified assets (new equipment only–no used equipment and no software) placed in service during 2013.

Some deductions can be taken whether or not you qualify for the home office deduction itself. If you’d like to meet with us to learn more about home office deductions, please give us a call.

Pay for your deals with unsecured funds instead of hard money

Bernadette Trafton, Chief ConnectorI think that everyone would prefer to pay for their deals with unsecured funds vs hard money.  Heck, most of the hard money people I know would tell you, if you can use other methods to pay for your deals, do that before you choose hard money.  The problem is there aren’t a ton of ways to find unsecured funds.  Sure, you can ask a parent or relative who has a home equity line of credit or IRA that can roll over into a self-directed IRA…but, these days who’s relatives have that kind of portfolio to tap into?  Robert Kiyosaki’s Cash Flow Quadrant illustrates that 95% of the people in world are sharing only 5% of the wealth.  Chances are we are relatives with more 95 percenters than 5 percenters.  Just sayin’.

So, every time I talk to lending sources I ask if they do business loans that investors can use to fund their deals.  Most of the time I hear that business loans don’t qualify for real estate investing or they can do it if the person has a ton of collateral.

Well, I’ve finally found a group who will give up to $100k or more in unsecured funds.  They structure the loan as a business line of credit, even if the business hasn’t been established.  I know, where’s the catch?  You and/or your partners do have to qualify.  You can’t have horrendous credit and qualify for the loan, unless you have a qualified co-signer, you can’t have a bad payment history and qualify for the loan, unless you have a qualified co-signer.

So, if you qualify, here’s what you get

  • $50,000-100,000 plus in Business Capital and Business Credit Available per Each Applicant
  • Unsecured Funding – No Collateral Required
  • Unrestricted Use – Capital Can Be Used For Any Purpose
  • Interest Rates as Low as 8.99%
  • 0% Interest for First 6-18 Months
  • Preapproval in 24 hours
  • Funding in 14 to 30 days
  • Line of Credit is in Name of the Business, Not on Personal Credit Profile

Sounds pretty awesome to me.  There is unrestricted use.  This means you can use the funding for your deals.  Pay it back when the deal closes and because it’s a line of credit, it will be there to use for the next deal!  Or, if you are like me and enjoy multiple streams of income, you can use it or a portion to invest in other streams of income as well.  So, I asked them if they could do a webinar for everyone who’s interested.

When:  Wed, 7/10/2013 8pm est

Where:  Webinar – https://attendee.gotowebinar.com/register/7714919400877840896

Hope to “see” you on the webinar and at our July 18th Christmas in July Networking Extravaganza!

Bernadette Trafton, Chief Connector

Bernadette@BostonAREIA.com

Independence day special for your Boston AREIA real estate club

Bernadette Trafton, Chief ConnectorGood afternoon everyone.  I hope you are all getting ready to have a fantastic 4th of July, Independence Day Celebration with your friends and your families.  I have been working on some great things for the folks at Boston AREIA.  First, we are offering and Independence Day Special to everyone!  For those who join Boston AREIA by July 4th, you will get $25 off of Individual memberships and $50 off of Joint memberships!  Great Independence Day Deal for everyone.  Click here to view the membership plans (the options for the Independence Day is the last step before entering payment info).

Now, I’ve been talking to someone about how to get your deals funded WITHOUT hard money.  I know that hard money serves it’s purpose.  Chris Roche is one of our vendors.  But, I think I’ve got the answer for many folks.  There are of course ways to fund deals if you have bad credit, we have programs that can help with that.  But, what if you have a good credit history and you don’t want to pay 12-15% for hard money?  There has to be a innovative solution.  One would think.  Well, I met a team of folks the other day who are providing business loans up to $150k or more.  You qualify personally, but, the loan goes in your business name and is treated like a line of credit.  So, need some money to partner with folks and fund that deal?  You can take a draw.  Flip a property, collect your ROI, pay off the loan and have the money available for the next property.  At your real estate club – Boston AREIA , we are always looking for ways to make it easier for you to do deals and reach your goals.

Keep your eyes on the emails because we will be doing a webinar with this team next week.  I’ve been having some fun preparing for our Christmas in July event on July 18th. Presents for everyone!  It is Christmas, afterall!  Desire.  Commit.  Succeed!  Bernadette Trafton, Chief Connector, Bernadette@BostonAREIA.com

Christmas in July! ‘Tis the season to invest in real estate!

Join us for a Networking Extravaganza!

• Network to your heart’s content

• Build your Power Team

• Introduce yourself in front of the room

• Gifts for all!  (It is Christmas afterall)

• Win prizes: real estate education, coaching and more!!!

• Share your deals and have a blast!

Bring you deals, your energy and LOTS of business cards!
Monthly Meeting 5:30 pm Networking—6:30 pm Meeting Thursday, July 18, 2012 Crowne Plaza Boston, 320 Washington Street, Newton, MA Free for members; $25 for non-members Validated parking