Land Banking - Isn't It Time You Tried It? - 07/30/07 10:28 AM
If you are not sure then what you need is an example.
Let's say you have $100,000.00 in your IRA account at a major brokerage house. You want to retire in 10 years. What will this IRA be worth then?
In order to answer that we need to make certain assumptions: You will … (10 comments)
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Not Another Chick Flick? - Oh Yeah, But I Owed It To Her - 07/29/07 08:53 PM
Last week as you may recall we went to see Live Free or Die Hard. It wasn't my wife's first choice but she said "OK" so we went.
Well, that wasn't the whole story. I promised to take her to see the new Kate Douglas film or as some of you … (6 comments)
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16 to 1 : What the Hell Does That Mean? - 07/28/07 02:57 PM
A little bit of history re-printed from an article posted on Vassar's website should shed some light on what is going on now in the U.S. It has always been a war between East and West. The "Big Bankers" in the East (read that New York City and Hartford, CT) want … (10 comments)
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Do We Need Stated/Stated Loans? - 07/27/07 02:40 PM
How many times have you heard this called a "Liar's Loan?"
But is it really a liar's loan? I don't think so. It is a loan for good people who have trouble documenting their income for a variety of reasons.
Among those who need this loan are successful business owners who run successful … (45 comments)
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Crazy Prices! - 07/26/07 05:10 PM
Some people think that the recent run up in the price of a single family residence is some kind of conspiracy.
If there was a conspiracy it extended all the way up to the Federal Reserve Board because the price of a house can be demonstrated to be a function of the … (6 comments)
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Broker RoundTable Notes 2 - 07/26/07 11:52 AM
It was a disaster. I was really looking forward to another meeting of the San Diego Brokers RoundTable of the Mike Watson Institute of Real Estate Investing (MWI). We meet twice a month to catch up, learn something new and share our experiences.
The meeting was "hi-jacked" by the moderator right from … (2 comments)
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Buy an Independent Business or a Franchise (part 3 of series) - 07/25/07 02:58 PM
The arguments in favor of a franchise are formidable. With a franchise you should get immediate name recognition, awareness, and acceptance. You get training in running your business. You get complete policies and procedures manuals. You get national contracts with suppliers which allow you to buy for less than you could … (9 comments)
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Buying a Business: First Things First - 07/24/07 08:24 PM
Before you even consider buying a business you have some decisions to make and some homework to do:
1. Should you buy an existing business or start from scratch?
2. Do you want a franchise or an independent business?
3. Should you lease your location or buy the real estate?
4. How are you going … (27 comments)
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You Need a Business! Baby Boomer retirement Planning part 4 - 07/24/07 11:45 AM
At retirement we are faced with major lifestyle changes from NOT going to work every day to NOT having a regular income, having too much time for not enough to do.
Maybe what you want to do is have a small business that can occupy your time and provide some welcome and … (2 comments)
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Why I Went to Hemet - 07/23/07 04:06 PM
I live in San Diego California. Arguably, one of the nicest places on Earth.
We have more days in the 70s than any place else in the US. We have Major League Baseball played in a beautiful park downtown. We even have an NFL team. And of course there is Sea World … (19 comments)
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I would never buy raw land part 2 - 07/23/07 12:06 PM
I am always hearing people say "I would never buy raw land." It's like they don't know that it is land that appreciates. They think that only improved property appreciates. But actually it is the land component of improved property that appreciates, not the structure. The structure actually DEPRECIATES, and eventually … (5 comments)
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Land and Land Banking Revised - 07/21/07 04:20 PM
Everybody knows what land is, right?
Or do they? Sure, land is that portion of the earth's surface that is not under water. But that definition covers a lot of "land."
To understand land we need to understand the uses of land.
Some land is forested. Some land is desert. Some land is prairie. … (20 comments)
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Under All Is the Land - 07/21/07 03:19 PM
When I started in Real Estate in 1975 there was a "Coffee Table" book for sale in the Board office. It was called something like "Under All is the Land."
That idea has stuck with me through the years.
I like land. It is the basis of all real estate. The value of … (6 comments)
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Does She or Doesn't She? Another Short Sale Perspective - 07/20/07 04:24 PM
Everybody is talking about short sales these days as if that is all we can do.
So I got thinking about this situation. Who is buying all these short sales?
Is it owner occupiers? Is it investors?
Well, I don't know exactly where all these short sale properties are located but if I had … (16 comments)
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Divvying Up the Spoils - 07/19/07 06:19 PM
Whenever an investment group does a deal, there is always a question of who gets what out of the transaction. Some put in more money than others, some do more work than others. It wouldn't be fair for everybody to get the same share.
OK then, what would be fair? This is … (4 comments)
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What is a PowerTeam? Re-stated and Revised in Case You Missed It. - 07/19/07 02:55 PM
I am a member (read that STUDENT) of the Mike Watson Institute of Real Estate Investing (MWI). Within MWI we have Broker Roundtables where we get together to discuss what we have learned and to help each other, I report notes on these Roundtable meetings here on AR.
Many of the members … (2 comments)
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Baby Boomers Retirement Planning 3 (a series) - 07/17/07 08:42 PM
Baby Boomers Retirement Planning 3 (a series) by Bill Roberts
Now that you have taken care of your estate in the event of death or catastrophic event (Part 2), we need to think about what to do in the event that you live forever. After all that is the other extreme. If … (4 comments)
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Sub-Prime Meltdown - Is It Really? - 07/17/07 01:50 PM
Where did all the money come from that fueled the sub-prime lenders?
The simple answer: Wall Street. But what does that mean?
Every year our money supply is greater than it was the year before. This is called inflation. Inflation is NOT an increase in price level, it is an increase in … (15 comments)
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Short Sale Revisited Again - 07/16/07 10:34 AM
If you want to pursue a short sale there are several things to do first. one is to make sure that the documentation required by the bank to evaluate the short sale application does NOT put your clients in a situation where they are giving evidence against themselves. This is MOST IMPORTANT. In … (12 comments)
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Mojave CA 120 Degrees and Heating Up - 07/14/07 02:11 PM
Mojave is a little town in the High Desert (as we call it) just north of Edwards Air Force Base. Edwards is where the shuttle landed a couple of weeks ago.
6/22/2007 - U.S. space shuttle Atlantis landed at Edwards June 22, capping a two-week mission to the International Space Station. The shuttle started … (14 comments)
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Broker Roundtable Notes 1 - 07/12/07 02:17 PM
Last night we held one of our twice-monthly MWI Broker Roundtables.
We get together to review our deals, discuss issues that come up during "deal evaluation," and get a little education in the "use change" process. We had about twenty-five dedicated and interested Realtors in attendance.
Some of the deals discussed were a … (2 comments)
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Baby Boomer Retirement Planning 2 (a series) - 07/12/07 11:24 AM
Baby Boomer Retirement Planning 2 (a series) by Bill Roberts
OK. We have determined exactly in Part 1 how much monthly income we will need at retirement. So how do we accomplish this? Well, we will get into this soon enough, but there are some things that need to be taken care … (2 comments)
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Baby Boomer Retirement Planning 1 (a series) - 07/11/07 01:51 PM
Baby Boomer Retirement Planning 1 (a series) by Bill Roberts
This is really the pits. We grew up believing that we would work 'til age 65 and then retire to a life of leisure without financial worries.
I don't know about you but most of us are not going to be able live … (6 comments)
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The Short Sale Revisited - 07/10/07 03:55 PM
Let me say again that I am ALMOST totally opposed to short sales. I suppose that in very limited circumstances a short sale is the "best" solution to an otherwise unsolvable problem.
There are at least two parties to the short sale who shouldn't want to go through the ordeal: The Buyer … (56 comments)
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Highest and Best Use, Part 3 - 07/10/07 10:33 AM
One of the easiest ways to find properties that are not at their Highest and Best Use is to do an MLS search. Most Multiple Listing Services will allow a "key word" search. What you are looking for are non-conforming properties.
Some of the obvious possibilities are:
1 bedroom
2 lots
multiple APNs (Assessors Parcel … (4 comments)
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C"mon Check it Out Unbelieveable - 07/09/07 07:40 PM
I am exactly one week into the ActiveRain experience. I have met some truly wonderful people. I have learned so much and I have received so much help it is unbelieveable.
And guess what, I have passed the 5,000 point level. I can't believe it. My goal was 3,000 in the first … (23 comments)
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What is a PowerTeam? - 07/09/07 11:46 AM
I am a member (read that STUDENT) of the Mike Watson Institute of Real Estate Investing (MWI). Within MWI we have Broker Roundtables where we get together to discuss what we have learned and to help each other,
Many of the members have their own PowerTeams.
A PowerTeam is a group of real … (9 comments)
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Highest and Best Use, part 2 - 07/08/07 09:04 PM
My philosophy is pretty simple. You want to build wealth you don't have to steal the property.
There is a lot of under-utilized real estate out there. It is NOT being used at it's HIGHEST and BEST USE.
Pay market value for it in its current use and enhance its value by changing … (8 comments)
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I'm still Trying to Figure it Out - 07/07/07 12:55 PM
I've posted some "meaty" articles and received scant notice.
I've posted some conversational items that seemed to be well received.
From my point of view I like to get useful information and I search it out.
What about you? (Sounds like a Gershwin tune).
Even in the various groups off-topic posts seem to do better … (15 comments)
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How to Sell a Business - 07/06/07 04:56 PM
The first thing a Business Broker needs to do is interview the seller. Keep in mind that 90% of businesses put on the market DO NOT SELL. the seller needs to be motivated and reasonable.
Find out his motivation. Keep digging until you are sure you know why he wants to sell.
Most … (13 comments)
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ActiveRain and Google - 07/05/07 06:58 PM
I have only been on ActiveRain for less than a week.
Before I joined I could not find myself with a Google search. There are too many Bill Roberts or William Roberts in San Diego County. Now I am on the first page of Google search results for Bill Roberts Oceanside CA … (32 comments)
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Land and Land Banking - 07/05/07 03:07 PM
Everybody knows what land is, right?
Or do they? Sure, land is that portion of the earth's surface that is not under water. But that definition covers a lot of "land."
To understand land we need to understand the uses of land.
Some land is forested. Some land is desert. Some land is prairie. … (2 comments)
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Why Pay Retail? - 07/05/07 09:46 AM
The question should be "why not?" There are two very distinct philosophies in real estate investment. Some think that you make your money by buying "right" and others believe that the profit in real estate comes about by the actions of time, inflation, use change, and utilization.
A story: I bought my … (15 comments)
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Independence Day - 07/04/07 11:30 AM
Happy Fourth of July to everyone. We celebrate our independence from Great Britain. But for many who pay approximately 50% of their income in Federal and state taxes it is also a time to celebrate freedom from taxes. They have worked half the year just to pay their taxes,
Real estate investment offers … (4 comments)
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I would never buy raw land - 07/03/07 09:45 AM
I am always hearing people say "I would never buy raw land." It's like they don't know that it is land that appreciates. They think that only improvrd property appreciates. But actually it is the land componet of improved property that appreciates, not the structure. The structure actually DEPRECIATES.
Land is a … (7 comments)
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Which way do you want the market to go? - 07/02/07 07:55 PM
I've been reading a lot about short sales on this site today. Is this really what we want? If we keep pushing lenders to accept short sales, then we only have ourselves to blame for a falling real estate market.
Can't we find ways to sell our clients' properties at or above … (8 comments)
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Highest and Best Use - 07/02/07 03:48 PM
I am a student of the Mike Watson Institute. He teaches Realtors to be their own best client. I believe in this concept. How can I help others if I can't (or don't) help myself? We also believe that equity can be "created" by changing the use. If a particular piece of … (12 comments)
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