Archive for January, 2015

Not If, But When?

“One of the most feared expressions in modern times is ‘The computer is down.’”~ Norman Ralph Augustine

One night I got a panicky call from my cousin Marv. He was about to put the last, finishing touches on a presentation he had been working on for weeks. He powered up the computer, waiting for the usual stuff to flash across the screen. Something flashed, all right: a big, blue, blank screen. Everything was just gone. Marv told me he didn’t think it could happen to him. “I mean, I’m careful! I don’t open links on suspicious emails, and I don’t click on ads unless I’m sure of the source.”

“Well, that’s good,” I told him. “Give me your boot disk and I’ll see what I can do.”

“What?” The look on Cousin Marv’s face was as blank as that awful blue screen.

“Okay, how about backups?” I asked. Maybe we could at least get his presentation back.

Marv smiled. “Oh, I’ve got that! I always keep a spare copy of important documents. On my computer.” His face fell. “Oh.”

For a minute there, I felt a little superior. Really, no backup? But then I had to remind myself that I’ve been sloppy about backups, too, from time to time. I’ve lost documents. I’ve seen the dreaded Blue Screen of Death. What an awful feeling!

Make no mistake: It’s not a matter of whether your computer will ever go down. It’s a matter of when. It could be a virus, or an electrical surge, or a corrupted hard drive, but sooner or later, it will happen to you. You will lose stuff, and it will happen at the most inconvenient time possible. If you’re lucky, fixing it will just be a big pain in the neck. If you’re not so lucky, it’ll set you back weeks, cost a lot of money, and jeopardize professional relationships.

So what’s a savvy real estate investor to do? Well, for starters, Cousin Marv is right – don’t click on suspicious links. But the bad guys keep getting better and better at fooling us, so that’s not enough. You’ve got to have backups. Now, how do you do that?

First, you’re going to need a boot disk. This is a backup of the operating system and some of the programs on your computer. With a boot disk, you may be able to get your computer up and running again.

You also need to back up your data – documents, music, photos, spreadsheets, databases, and all the information you’ve collected and created over time. There are plenty of backup applications – both free and paid – that can help you protect your data. The best ones run automatically, so you hardly have to do a thing once you’ve set up the software. But for heaven’s sake, be sure you only download backup programs from dependable, safe sites.

Once you’ve got a backup program, it’s time to figure out where you want to store your backup files. You’ve got a number of choices: you can store it on the cloud, or on an external hard drive, on a disk, or on a flash drive. You’ll want to keep more than one copy – say, one on the cloud and one on an external hard drive. At least one copy should be kept in a different location than the computer. That way, if the building burns down, you’ve still got your backups.

And what if you’re working on a different computer, or if you can’t use your backup program for some other reason? Here’s a quick fix: email the file to yourself. That puts a copy of your file on the cloud.

You’re going to need more information about backups than I can give you here. The thing I want you to take away is the importance of backing up all your data. That goes for all your devices, including your phone.

Cousin Marv learned the hard way. So did I. But you don’t’ have to. Don’t neglect this important task.

Don DeRosaDon DeRosa is recognized as one of the nation’s top 21 real estate investors in the New York Times bestseller “The Millionaire Real Estate Investor”. Don, who is a full-time investor, trainer, and mentor, is the first to offer his complete investing system on a mobile platform. Don teaches investors how to Make More and Work Less by being more efficient, productive and competitive, leveraging mobile technology and apps on the iPad, iPhone, Android and other mobile devices.

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It’s DeJa Vu All Over Again and It’s Time to Make a Change

Here we are already in the second month of what I believe is going to be a bumper year for real estate investors. For real estate investors who decide that they need to change the way they are trying to buy houses, many have little success without available affordable financing.

Did you see the movie Groundhog Day? In the movie events kept repeating themselves over and over. Today I am seeing this very same thing happening to real estate investors. Many investors today are still trying to do exactly what they did in the past and it still isn’t working for them. Most of these investors are getting what most of the other investors who lack the ability to borrow money are getting which isn’t very much. Many of these beginning investors are struggling to make little money, most are just going through the motions of what they were taught by some guru.

I just spent 5 days teaching with Robyn Thompson at her Junkers to Millions boot camp and I was amazed to hear her students who are totally unaware of any method of buying houses other than getting institutional financing to buy houses. I discussed this with most of her audience during my time at the boot camp and found that over 75% of those attending were unable to get any type of institutional financing for one reason or another. Does this sound familiar for you too?

Those I talked with said they either had credit issues or just didn’t have access to people who would help them finance their deals. This is a real problem for beginning real estate investors. If they don’t have access to money, how can they make offers to buy a property contingent on getting some form of financing when they know they won’t qualify if their offer is accepted?

I remember in the early days of my investing career when I had no money to invest and my credit was far, far less than good I would make an offer to buy a house contingent on me getting some kind of financing to close the deal when I knew I couldn’t make it happen if my offer was accepted. I would make offers then set up most of the night praying that the seller wouldn’t accept my offer because if they did I couldn’t get the money I would need to close the deal. I’m sure this has happened to some of you. One thing I know for sure, money is not available to everyone who wants to be a real estate investor. Because of this fact it’s time for those who don’t have access to money and less than good credit to look at some different ways and ideas how to buy real estate that isn’t dependent on having to qualify for an institutional loan where the lender is going to want to see income tax returns from past years, income verification, credit checks to see how your credit score and income to debt ratio really is.

How about this? How about looking at ways to buy houses where those things won’t be an issue when you buy houses directly from the seller. How about learning how to make offers directly to the sellers that give the sellers what they want even if you aren’t able to get any type of institutional financing. Yes, believe it or not many sellers do not want all of the money when they sell their property all at once. Some of these sellers really want a check coming to them every month to help subsidize their meager pensions or their income.

The successful real estate investors I personally know who have created huge abundance for their family have done so without the use of institutional banks or lenders in almost all cases. They made their money making payments directly to the sellers every month for up to thirty years or by borrowing money from financial friends who have a large pension plan or a Roth IRA. Remember one thing, there are many, many ways to buy a house when directly dealing with sellers.

When investors who make offers contingent upon getting institutional financing offer to pay a specific amount of money if the seller rejects their offer to purchase the buyer usually increases their all cash or financed offer a small amount. If the seller again rejects their offer most investors simply go away and forget the deal. When you are directly negotiating with the sellers there are many, many ways to make an offer to the sellers other than paying all cash.

If you would like to learn more about how to buy real estate in ways other than being forced to get some form of institutional financing I have a solution for you. When you don’t need to get institutional financing there is a better chance you can make deals that will be better for you and hopefully good for the seller without the scrutiny banks put you through to later deny your request for a loan in most cases.

Go to www.LarryHarbolt.com where you can find multiple courses that will explain how you can be a successful real estate investor without Banks and get started building your real estate fortune starting today.

Until Next Month, Happy Investing!

Larry

Larry HarboltLarry Harbolt is the nation’s leading creative Seller Financing expert as well as a popular national real estate speaker and teacher whose time-tested strategies and nuts and bolts teaching style has helped thousands of aspiring real estate entrepreneurs realize their financial dreams with little or no money and without the need for credit. Larry has been successful creatively buying and selling real estate for over 30 years and has written numerous popular articles and real estate courses.

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