Listen to KJAM Radio Interview with Shae Bynes  [25 minutes]
Click here to download mp3 file…

When I worked with regular first-time home buyers, most of my clients were women. Women with smarts, savvy, and self-made wealth. Professional divas without the drama. Since I’ve quit showing property to retail clients, I’ve focused on getting to know women investors who are making things happen with income property investing.

Shae Bynes shares thoughts on Florida section 8 rental investing.

Shae Bynes, owner of www.GoodFaithInvesting.com – has all the qualities of the professional first-time home buying divas I use to work with. She is a wife, mother of two, former corporate executive for IBM, and the epitome of taking massive action. In 2008, she and her husband went through a foreclosure and short sale bootcamp training. As they worked on their business in their spare-time they read blogs of others in the real estate investing for inspiration.

In her first year after leaving her corporate job, she followed Patrick Riddle’s advice to raise private money for her real estate business, created a ” take-action” guide to help other new full-time income property investors, and still had time to create joint venture partnerships with other like-minded women.

When you listen to her speak you’ll be reminded of the need to; take massive action, lean on mentors, and find partners who will cheer you on.

Conversation with Shae Bynes – KJAM Radio Show Notes:

• The creation Diva Money Club for Women Income Property Investors
• The Controversial BiggerPockets.com Section 8 Housing Article
• How to deal with Florida Section 8 Housing Authority and find the Section 8 housing List
• Major aha moments during her first year after leaving IBM

During the interview, Shae Byne’s talked about her new resource for 7 Day Action Plan for new income property investors, Check it out…

http://www.InvestmentRealEstateCorner.com/go/financial-gps/

What did you learn from this interview with Shae? Comment below with your Facebook account.

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How can a cockroaches help your income property portfolio grow profitability? Dwan Twyford, featured in the book Millionaire Real Estate Investor, knows all too well how profits and cockroaches can fall easily fall out of the sky when dealing with Florida Section 8 tenant.

After running intense section 8 eligibility qualifications on prospective tenants so she could learn how to control the cash flow for her income property portfolio, Dwan Twyford noticed that small effort, applied at the right places will give you outsized results. To add tenants quickly, or make other rapid income gains, all she had to is put effort in those key places during the evaluation process.

"Florida Section 8 opportunites are huge," stated Dwan Twyford, "When you have a system."

I invited her to The Kendall Matthews Show to talk about Florida Section 8, which has over 2 year waiting list for housing eligibility. But I also wanted to learn hos she did her tenant qualifications, so you could take her methods and apply them to any location were you want to find the critical small steps that generate outsized results.

Conversation with Florida Section 8 Pro Dwan Bent-Twyford – KJAM Radio Show Notes:

• Fix & Flip or Buy-Hold, which strategy and for how long (this will shock you)?
• What are the 3 things you must know of when dealing with section 8 housing eligibility?
• How do you find a go section 8 renter?
• What new things Dwan Twyford is focusing on in this economy?

What did you learn from the Dwan Bent-Twyford interview. Let me know that your alive, comment !

Resources Mentioned

Hasslefree800.com – generate qualified leads  with call capture technology.
2034 Housing Recovery? – find out how long the government thinks your state is going to turn-around.
InvestorsEdgeUnivesity.com – Dwan Twyford explains more about income property investing in short sales and foreclosures.

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The recent housing market decline has provided an unprecedented opportunity for buyers looking to purchase a condo to be their primary residence, second home, or investment property. The State of Florida was hit hard by the foreclosure crisis, and many condos can be acquired at rock bottom prices, if you know where to look. As a Miami condo Realtor, I work with many clients who are interested in these foreclosure deals.

A Realtor Can Help

For most people, the best option is to work with a Realtor who is knowledgeable about the local market, who is responsive, and has time available to preview these foreclosure properties for you. Banks are currently holding foreclosure inventory which they list for sale using local Realtors. Once the inventory hits the market, it doesn’t last long — most properties are sold within 30 days to all cash buyers. In Miami, it is not uncommon for the best bank owned condos to receive 20 to 30 offers. If you want to obtain one of these properties, it is important that you submit an aggressive all-cash offer. Most of these properties end up selling above the list price. As a Realtor, I receive notifications when these properties are listed for sale, and am out daily previewing these properties on behalf of my clients. I suggest you find a Realtor to do the same for you. Your Realtor will also be able to give you advice on what price to pay for the property. On my blog you can read more about buying a Miami foreclosure condo.

Foreclosure Auctions

Another option for savvy buyers or investors is to purchase a condo at a foreclosure auction. The foreclosure auctions are run by the county court, and to purchase a property you need to wire the funds to the court within 24 hours. As a result, these are all cash transactions. Many counties are moving their foreclosure auctions online. Miami-Dade County and Broward County have been conducting successful online auctions for over 6 months now.

There are no restrictions on who can purchase property at the county foreclosure auction as long as the individual has the cash available for payment. However, the foreclosure auctions are usually attended by knowledgeable individuals that are able to navigate through the potential pitfalls of purchasing a property at auction. At auction, the properties are sold “as-is”. This means in most cases, you won’t know the condition of the property interior in advance, which could be damaged.

Furthermore, there could be a tenant living in the property that you might have to evict. Also, the property may be subject to additional liens that you will be responsible for as the new owner. For example, you could purchase a property at auction where the second mortgage holder is foreclosing, leaving you responsible for satisfying the terms on the first mortgage. If the property is a condo, you might be responsible for paying off the balance of the monthly assessments that are owed to the association.

This option isn’t for everyone, as I’ve received several calls from individuals who thought they were paying $15,000 for a condo worth $150,000. What they failed to realize is that the condo association was foreclosing on the unit, not the first mortgage holder. Now these owners are stuck having to satisfy a $300,000 mortgage which is still in first position. Buyer beware.

About Guest Author: Marc Knight is a Realtor specializing in Miami & Miami Beach condo sales. He operates a website and blog called Miami Condo Shop

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Costa Rica has been attracting the attention of tourists, property investors and retirees for years.  It has the largest US expatriate population in Central America and a number of its key ‘purchasing destinations’ have evolved into mature second home markets.  Activity slowed considerably during the global economic crisis with property prices falling from their highs, but with a new President at the helm, it looks like the country is emerging from the slump faster than some of its regional neighbors.   In fact some market optimists are writing about a ‘second chance’ opportunity to get into the Costa Rica market at pre-boom levels.

One thing is clear; buyers have more negotiating power than they have had in years.  So for those interested in leveraging the buyer’s market, here are some tips to get you started.

Objective setting

Having clear investment objectives will help you narrow down the options and locations available to you in Costa Rica.  Are you an interested in an ‘early in’ Investment?  Are you looking for a lifestyle buy?  Is rental income in the short term important to you?  Are you thinking about Costa Rica for retirement?  Taking the time to answer these questions upfront will help you determine the most profitable investment strategy you should follow.

You’ll also need to think hard about your ideal risk/reward profile.  Investment opportunities in Costa Rica lie at different points on a development ‘curve’.  In general terms, the options that lie earlier in the curve tend to be located in less developed locations.  Here your risks are higher, but so is your potential for short term upside so long as you’re positioned in the ‘path of progress’.  At later points on the curve, markets are more established, risks are lower but there may be less potential for rapid growth.

Finding Property

Real Estate in Costa Rica is not managed via a national Multiple Listing System.  This means that you can’t walk into a real estate agent’s office, specify what you are looking for and expect to receive a comprehensive list of all property for sale that meets your criteria.  There is overlap between listings held by different agencies, but each maintains their own database.  This means that if you want to be sure you are seeing all there is to see, there’s really no alternative to setting up property viewings with each agent active in your market.   It’s a lot of legwork, but seasoned investors know that’s it’s really the only way to ensure they don’t miss any deals.

Added to the lack of a MLS, it can be hard to get a handle on value in Costa Rica.  Like most countries in Central America official statistics on sales and transactions are not published.  You’ll be hard pressed to find completely reliable data on market trends, transaction data or information on how long a property has been on the market.   This can be frustrating for investors used to getting their hands on this kind of data in other markets.
Online services are slowing improving and adding transparency to the market.  One example is Reveal Real Estate, a site tracking asking prices across major real estate developments in Central America.  Asking prices are not as good as sales data, but in a world of imperfect data, it’s a useful addition.

Getting a good deal

Buyers are firmly in the driving seat in Costa Rica and it makes sense to use this to your advantage.  But don’t get so tempted by ‘discounts’ and ‘incentives’ that you forget to think logically about the question of value.  If you’d like to reduce your exposure to downside risk, a good idea is to focus only on completed property (as opposed to off-plan or pre-construction deal) that is built to high standards and located in prime areas.  It also makes sense to put in the time to find re-sales – sales form end user to end user – as many are priced significantly below developer-direct pricing.

Due Diligence and Closing

Make sure you hire a competent real estate attorney to represent you during the dud diligence and closing process.  Closing documents will be in Spanish so unless you are fluent in legal Spanish, choose an attorney who is fully bilingual.  It’s always a good precaution to take out title insurance and a number of US based firms offer policies on Costa Rica property.  The process of applying for insurance will require your attorney to dig deeply into the property history and title chain to ensure there are no liens or encumbrances.
It’s exciting times for buyers looking at property in Costa Rica.  Inventories are high.  Vendors are motivated.   If you take the time to research the market you should be able to find opportunities offering the risk/reward balance you are after.  Then, if you negotiate hard enough, you may end up with a deal of a lifetime.

About guest author: Claudia Gonella is co-founder of Reveal Real Estate and writes regularly on the international real estate market in Central America.

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In 2002, a movie featuring Eminem and Brittany Murphy was released called, “8 Mile,” it had one of the most inspiring songs I ever heard called “Lose Yourself.”

“You only get one shot, do not miss your chance to blow.” Eminem ryhmes, “This opportunity comes once in a lifetime.”

Is there opportunity in the marketplace right now?

Say Yes.

But here’s the problem.

Do you know how to find them? Do you know what to do when you find? Do you even know that opportunity is looking over your shoulder right now?

I’ve changed my entire business model to capitalize on the opportunities that are available right now.

As a recovering retail residential real estate agent, I put myself in a 12-step program to work with only high-net worth individuals who like their day jobs.

Though I’ve relapsed from time-to-time, I realize this time in history has already generated the future Bill Gates, Warren Buffetts, and Donald Trumps. Those who lose themselves with producing results and not excuses will survive no matter who is president or governmental policies.

And Eminem has done just that.
He’s not only a brilliant storyteller, but an example of Teamwork To Success

Marshall Mathers, a.k.a., Eminem is more than a lyrical sniper, but an example of how partnering with others can catapult your success.

It doesn’t matter if you would rather pull out your ear drums with dirty chopsticks, before you would listen to his rap music. Pay attention to the business side of successful music artist, there’s plenty to learn.

What Eminem Can Teach you about Setting up your Income Property Power Team

1) Treat it as a Business and not a hobby.

Marshall Mathers may have started writing while just a child, but this is no hobby.  Read this next sentence twice… Do not participate in real estate investing as a hobby. It is to expensive and time consuming.

A hobby cost you money, but can provide mental enjoyment.

A true business is going to do both for the owner.

Marshall familiarized himself with the great storytelling artist. Even though most of you aren’t going to do this next step… discuss your plans about raising capital with your state’s securities corporate commission office and ask them to school you on regulation D.

2) Pick Members of the Team to get Started

Eminem’s meteoric rise can be contributed to his relationship with music legend Dr. Dre. Because of having Dr. Dre as a team member, doors were opened and money eventually walked in.

What does this mean for you? It is always best to partner with folks who have experience in doing what you want.

However, you must bring something of value to the table.

• What are you strengths, talents, or connections?
• Write them down right now.
• What are some of your closest friends and colleagues strengths?
• Now start connecting the dots.

For example, one of my main strengths is being fearless on the phone. That’s why I have a KJAM Radio Show on iTunes.  I am to busy to hunt down all the low-hanging fruit opportunities this economy is providing. I have partnered with organizations from across the country that bring me unique non-MLS real estate and business deals.

Visit your local high-end real estate office. Interview brokers who don’t cringe about placing aggressive offers.

3) Share Investing Strategies and Future Potential

One of the things that makes Eminem so effective is how he paints mental pictures with his words. It is a skill that can be learned.

Share with others how you envision the highest and best use of a project.

Picture yourself in front of a property and telling your team…

Yes, this house is missing a front door, the windows are smashed, and the roof is caved in. But you need to look past that.

This house doesn’t want to be a home. It actually wants to be dental office space. With soft music, comfortable chairs and luxury ceiling fans that will breeze money into our pockets.

4) Get them Investing not Consuming

Eminem’s songs have achieved rare commercially success, because his team is focused on production. Their is a huge difference between an investor and a consumer. Tell your team to stop reading books, listening to tapes or watching videos.  It is time to start writing contracts, knocking doors and making phone calls.

Investors make money. Consumer spend money. Spend 80% of your time trying to get hit by the bus of opportunity.

5) Begin Raising capital and Partnering Deals

Marshall actions come down to raising capital to do bigger things. His team raised capital to sign the rap mega-star 50 cent. His team raised capital and partnership to start a Shady Ltd, a sports fashion line.

Real estate investing is very simple. There’s only two things you need to do. Find Deals and Find Money. Every thing else is a distraction.

Have you ever been at networking event and had to give a 30 second commercial?

Recently, I went to a non-real estate networking event. For my 30 second commercial, I told the group that I had a $1.5 billion real estate tape that needed to be filled, and was looking to partner with someone.

Guess what happen?

I found a serious qualified partner.

Have you created a team yet?

Moving Forward,

Kendall Matthews

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