Posted by: Ian on 07/28/10 at 2:31 PM
Posted in: Investing
Ian, I’ve been looking at my retirement savings, and I don’t think I’m going to have enough to live on once I reach that age. I don’t want to work into my seventies, so what can I do that will get me to where I can feel comfortable with my savings?
Laura C., Timonium, MD
This is a great question, Laura. In fact, for many of us it’s the most important question we can ask ourselves in these volatile times. During a recent interview on a local radio station, Maryland Comptroller Peter Franchot talked about how he just finished touring the state, and one of the most common concerns expressed by citizens was whether or not they could still save enough money to live on once they retired.
At first glance, the figures aren’t encouraging. For many years now, economists have had a “magic number” for retirement assets, a benchmark that average people can use to know how much they have to put away to live comfortably in their golden years. The number is dependent on a great many factors: longevity, medical expenses, tax codes, economic trends, and dozens of other variables. It’s a complex equation, but it can be tabulated.
Posted by: Ian on 04/28/10 at 3:55 PM
Posted in: Investing
I recently received a letter from a student here at Investors United School of Real Estate:
Dear Ian, Thanks again for taking your time to review my financial plan. It’s getting harder everyday to sit in class so I can obtain a degree and have nice things, realizing that I could potentially change everything by taking the course at Investors United. I could have nice things in life now and enjoy my life rather than waiting two more years to make $25-$35 an hour averaging $30,000-$50,000 a year!
Clinton B.
I say good for you, Clinton! It’s about perspective.
My wife went to school for years to become an Industrial Engineer; it was her life plan. After all that energy she invested in engineering, she was not about to shift gears to get into real estate investing. From my perspective, I could not understand why she would work for someone else for $90,000 a year. more…
Posted by: Ian on 03/26/10 at 1:18 PM
Posted in: Investing
IU Members Lloyd Williams, Taylor Graham, and Kirk Boone were presented with the Green Building Project of the Year Award for the Greenwood Initiative project in Baltimore. The U.S. Green Building Council, Maryland Chapter, hosted the 5th Annual Award Celebration at the Athenaeum at Goucher College on January 28th, 2009. I was proud to attend the event in support of our Members. I also visited the project and sat down with Lloyd to chat about green building, real estate investing, and how Investors United helped him to achieve this goal. Enjoy the video!
A well-written real estate contract of sale is like a Picasso. Simple, yet complex. Just as a painting speaks for the artist and conveys meaning to viewers, a real estate contract speaks for the parties and directs agents, the title company, lawyers, and perhaps a judge in a court of law.
The “Skinny Contract” I have been using to control millions of dollars in real estate over the last 30 years is a simple, one-page document. The “standard” Realtor contract of sale is 40 pages intended to protect homeowners, but largely unnecessary scribble-scrabble for use by investors. Though “skinny,” every one of my contract clauses is as deliberate as a brushstroke.
To paint your contract for real estate investment profit, you need to learn the right techniques. You need a palette of clauses to choose from, mastery over every word, and understanding of what each is designed to accomplish. With practice and guidance from a master, your contract of sale can be a valuable work of art – a product of your creativity, your imagination, your motivation, your inspiration. It can be your gateway to equity and cash profit.
As you practice your contract “painting” lessons, consider more…
Posted by: Ian on 12/15/09 at 8:14 PM
Posted in: Investing
10 Effective Real Estate Marketing Strategies
Affix a “For Sale” sign or banner to the property and use directional signs to attract attention from side-streets
Today, even time-pressed homeowners can sell their property quickly using simple marketing methods that are often overlooked. With a friendly title company to write up and record the transaction, selling real estate can be fast, easy, and inexpensive.
Typically, people sell real estate by: 1) hiring an agent, 2) hiring an auctioneer, or 3) selling the property themselves. But more important than who sells the property, is how the property will be marketed best. The key to selling anything is to make the public aware of the opportunity. Consider the following creative marketing methods to best market your properties:
1. Prepare a Flyer
The first step is to create a detailed flyer about the property. Your flyer should display a picture of the property, its address, your contact information, and all positive attributes and potential benefits. Include specifications such as bedrooms and baths, heating, cooling, plumbing, electric, windows, roof, upgrades, zoning, proximity to landmarks and schools, and any special incentives or warranties. Tape an envelope full of your flyers to the front door and distribute them to potential buyers.
2. Price It to Sell
Given holding and opportunity costs, there is a time value of money. Instead of waiting for top price, take advantage of the time value of money by establishing a price at or slightly below market. To determine market value more…
Posted by: Ian on 09/14/09 at 10:31 AM
Posted in: Marketing
Hello Mr. Parrish. I watched the online videos already today! Great Job! I do want to ask one question….as I market toward my motivated sellers….while watching the videos….would it wise to get a toll free number (800, 888, etc) or do you just give out a cell phone number? I have heard also of people getting ”live receptionists” to take calls as well? Thank you, and hope to meet you soon!
Posted by: Ian on 08/18/09 at 11:53 AM
Posted in: Investing
I just turned 23, have a masters in accounting, will soon have a CPA, and am going to work for a big 4 accounting firm in a couple months.
I’ve always had a passion for real estate, but really just don’t know about how to get into it. I’ve spotted an excellent opportunity to make money in the most sought after area in St Louis, MO. How does somebody my age with no money go about obtaining a multi-million dollar loan?
Thanks,
Brandon
Congratulations on your achievements, and thank you for considering my advice.
It’s interesting to me that four months prior to taking a job, you are already looking for another source of income. Wouldn’t it be exciting if in the next four months your real estate investment endeavors resulted in your financial independence? more…
In this video below, Ian Parrish interviews Investors United Alumnus and Instructor, Roger “The Noteman” Turek about a discounted mortgage note he purchased for a 59% annual rate of return using his Self Directed IRA. He explains step-by-step how he located the note holder, the details of the negotiation, and how he manages the note payer for an excellent passive income stream.
In addition to the specific’s of this transaction, Roger and Ian discuss the differences between discounted mortgage investing and the stock market as well as traditional landlording, how to mitigate risk, and more. Enjoy!
If you would like to become a note expert yourself and learn directly from Roger how to obtain double digit and triple digit returns, enroll at Investors United for the upcoming course, “Mortgage Note Investing and the Financial Calculator“. more…
This Wednesday - 7pm Baltimore. Come get a fresh look at creative real estate, come network, and learn more about Investors United School of Real Estate.
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This is a great question, Laura. In fact, for many of us it’s the most important question we can ask ourselves in these volatile times. During a recent interview on a local radio station, Maryland Comptroller Peter Franchot talked about how he just finished touring the state, and one of the most common concerns expressed by citizens was whether or not they could still save enough money to live on once they retired.
