Another Michigan Real Estate Success Story!This is an email sent from Dave and Kris Koester from Burton, MI who came to my training workshop three months ago and they are kicking some serious foreclosure butt in their hometown. I did this to prove 2 very important points to everybody who wants to do real estate investment in Michigan : 1. It really works if you want to people like myself and the Koesters are not from a different planet. We are regular folks from Michigan live here, work here, raising our families here who are determined to make big bucks in real estate investment. All you need is a little bit of determination and the right knowledge and you are on your way to $25,000, $50,000 net profit months. 2. The techniques that I use in my own Michigan real estate business in Madison Heights, work everywhere. There are some idiots who write to me once in a while asking if what I do only I work in Detroit or surrounding suburbs. To that all I can say is the need to get their big idiotic heads out of their ass for a minute and think logically for a second. For that to be true it would mean that Detroit or tri-county real estate is somehow different from all the other counties in Michigan. So St.Clair and Shiawasse are different from Wayne county in some strange way. Last time I checked people who are just like, look like me live in the other counties, foreclosures happen in other counties the same way they would happen in Oakland county, the foreclosure deals could be funded in Washtenaw county the same way they would be Macamob county and the first time home buyers who mostly buy my houses are in ample supply in Kent county the same way they are in Grand Rapids, Benton Harbor, Whitelake or Ypsilanti. Unfortunately it is easier to blame somebody else for your personal laziness then to think for a second and say if this is not working for me then may be, just may be it is not the knowledge but I need to get off the sofa for a minute, turn my TIVO on and go look at some couple of properties. But here is the email, that Nora got yesterday, and Dave and Kris - Where are the heck are the pictures email them to Nora so everybody else in my Inner Circle can check them out I am really proud of both of you: Email From Dave and Kris Koester, Burton, MI, unedited: Mark and Nora, Just a quick update on our progress with our first deal. We were able to buy this property almost"right out of the box"after your"Blueprint Workshop"in late February of this year. In March we were able to find a private investor to help us finance a property. They required 10% down from us and charge us 11% per annum interest paid monthly. We...
Mark
Self Directed IRA article in FortuneFinally somebody has written a decent article about self directed IRA in a mainstream magazine like Fortune. You can read the whole article here - Customize your IRA . In April during DK Super Conference it was pretty funny to see a room full of really smart entrepreuners act surprised upon learning that they can invest in real estate with their IRA. The Equity Trust owner was doing his presentation and everbody kept on saying that is this legal and how come my CPA / Financial Planner has never said anything about this to me before? Well off course the CPA's are clueless about how to make money before all they can do is to look and analyze what has already happend in your business. The financial planners have a vested interest in making you buy as many stocks and bonds a possible so why would they tell you and honestly I dont think they really know anything about this to begin with. Here is another thought to chew if you are trying to get private money in Michigan for real estate investment purposes - all the early buyouts or layoffs from the Big 3 automakers who are walking with substantial 401K can roll over their funds to a self directed IRA and lend you money right off it hence getting tax free returns on their dollars. Technorati Tags: foreclosures michigan real estate investment realestate...
Mark
Millionaires Dont Watch T.V. NewsTime Magazine reports that 8.2 million is the number of households with net worth of more than $1 million dollars. And there has been 33% increase in such households over last year, the highest jump ever. Hold on, are we not supposed to be in the middle of a bad economic cycle. I guess somebody forgot to tell these people about it or may be they don t watch T.V. that much to know that. : - ) My mother is in town visiting and she is a news junkie hence her less than optimistic outook on life. She cannot believe that I don t watch news at all. I tell her that 10 pages of a good book or a magazine article like Fortune are worth one year of watching t.v. news and she just looks at me and shakes her head. I was working with my Inner Circle member Kelvin Squires to help him raise some capital and the first thing that astonishes me is how many people just in Michigan have a Net Worth of $1,000,000 and with all due respect to California residents it does not include the overly inflated valuesof their primary residences. Kiyosaki recommends not to use the equity in your home as a measure of your net worth because you will need shelter so even if you sell the house and cash out guess what, you still going to buy something else to replace it . Dan Kennedy definition of a Renegade Millionaire is $1,000,000 liquid assets plus $1,000,000 net worth. Now that is something to strive for! Technorati Tags: foreclosures michigan real estate investment realestate...
Mark
How to get the"right"people to visit your Michigan real estate blog?Robin Good is a mighty blogger in techland and he has put together a wonderful list of the Top 55 Blog Directories that you can submit your Michigan real estate investment blog to for free. I wrote a detailed description on this topic in July 2005 Mark Ijlal Factor my real estate newsletter for Michigan real estate investors. Here is the link: Top 55 Blog Directories And if you want to copy me well just use the absolutely wonderful Olga and her incredibly low priced service for around $67 she will submit your Michigan real estate invetment blog to all the top Blog Directories. One time hit to your wallet and then you are done for a very long time. I did it and got incredible results. Here is the link to Olga s website : RSS Submission Service. Make sure that you mention in your order that Mark Ijlal sent ya. She did a wonderful job for me and I want her to know that this is my way of thanking her. Technorati Tags: michigan real estate investment realestate...
Mark
Something New - Something Very CoolA new star is on the rise. My buddy Monna Lizza - incredibly good R&B artist just completed her first single. It is absolutely fablous and at Mark Ijlal Inner Circle we are all wishing here a kick butt album. You can download the single here. Enjoy....
Mark
Happy Independance Day, 10 Years Ago!July 4, 1995, ten years ago, if you wanted to find and flip Michigan foreclosures, this is how it looked like: 1. You could not go online and look at the SEV for any Michigan real estate. 2. You could not run a $136 advertisement that ran for 30 days and get 197 wholesale investors within 30 days to whom your can sell Michigan real estate. 3. You actually had to show prospective buyers your homes because there were no virtual tours of your properties that could be uploaded on a website. 4. You had to carry business cards with a phone number and a fax number instead of a just a website URL. 5. You had to go and do some serious legwork to find out who the top REO realtors in your Michigan county are? 6. You would need a real office with a phone number, phyical address and may be a full time employee if you wanted to get private money. 7. You had to drive up to your conty every Friday or every month to buy a foreclosure list. 8. The only way you could find out the lien information on anypreforeclosure is to actually drive to your Michigan county office, learn how to use their microfilm system and then peer through a really small lens. 9. You had to find buyers for your flips who actually had down payment money to buy their houses from you. 10. You had to learn how to buy and flip foreclosures from infomercial products which were taped somewhere in the 1970 s. Technorati Tags: foreclosures michigan real estate investment realestate...
Mark
Who you know in Michigan?It is said that who you know is often more important, more profitable and more powerful then what you know. When it comes to making consisten profits in Michigan real estate - I strongly agree with that statement. Last Saturday, during the workshop in Southfield, during one of the breaks, I have a guy talking to me who is from Sterling Heights. And he s been doing real estate for a long time and he knows how to find foreclosures. Has a whole remodeling firm, knows how to fix houses and he s in desperate need of private money because he s very good at finding deals and he just doesn t know how to get private money. And I asked him, I said hey, do you know anyb other real estate investors else in Sterling Heights that s doing what you re doing and maybe they can help you? And obviously couple of my Inner Circle members came to my mind right away because, you know, these guys had been trying to raise some private money and they were having a pretty good success ratio so far. And hesaid no, I don t know anybody else. And that whole conversation pretty much got repeated maybe six, seven, eight times, people coming up to me and saying, well, I m in that area. And I said, oh, you know, you need to get together with this person or that person who came to my previous seminar or that Inner Circle members. And here is this thing in a nutshell. You have to really work at building your investor network, no matter where you live. So if you live in Port Huron or you live in Farmington Hills or you live in Ann Arbor, I would suggest to you that you need to have a list of local investors who can sometimes help you find deals, sometimes you can flip hours through them, sometimes they will find buyers for your houses and sometimes they will find more sellers to whom they cannot do anything but they ll give it to you for a bird dog fee. No matter where you live you need to have at least ten people in your black book who are local investors. It is astonishing to me that how many few people work on this consciously. And obviously the easiest way of doing that is ........ Technorati Tags: foreclosures michigan real estate investment realestate...
Mark
3 Big Items in Sundays Detroit News about Michigan real estate3 Big Items about Michigan Real Estate in the News: 1. In the Sunday s Business Section of Detroit News a front page story about new businesses flocking to Ferndale. It is always amusing to hear people musing about missing out on the hot market of todays for example Birmingham, Royal Oak, Traverse City, Canton, Belleville and the evergreen Ann Arbor but at the same time making no effort to see what is going to be hot in the next 24 months. I have talked about Ferndale a lot recently to my coaching group students who live or invest in Oakland county even talked about briefly as an example of a good long term play during my last workshop in May. If you think about it then off course it makes a lots of sense only 3% of the city s retail and office space is empty, it is right next door to Royal Oak which is young, hip, vibrant and very expensive right now. Property values in Ferndale have soared ove 100% in the last decade according to Detroit News. More then 50 new businesses haveopened up since 2002. Not to mention a $7 million dollar project to build 32 lofts. I would suggest that if you are looking to buying Michigan real estate for a long term play either lease options on single family houses or apartment complexes / duplexes for cash flow Ferndale deserves a strong consideration from you. 2. Migration happening away from typical suburbs of Oakland and Wayne counties into further Northern areas once again important thing to mark on your investing calendar if you are familiar with these areas. It is really interesting to see how Canton or Milford have literally transformed ourselves in front of our eyes. Imagine knowing 7 years ago how hot Canton is going to get and buying houses there. Question for you is do you know what are the hot spots for the next 3 years in your county or surrounding suburbs? Are you watching what is happening in your city or surrounding city? There is lots of money in knowing what other real estate investors don t know.You can buy houses in foreclosure, land, duplexes and just watch their values go through the roof in these hot areas. As we speak, I have my own watch list of the hot areas in Michigan 3 towns that I am watching with great interest and waiting for the right time to make a very serious move. Do you have a list like that in your computer or is it just luck that is determining where and what to buy??? 3. The rise of the suburban downtown If you wanted to see how the big boys sell real estate then Sunday you have to be in downtown Royal Oak I went to see the cermony surrounding the opening of the sales office of Main North Terraces in Downtown Royal Oak. Live Jazz band,...
Mark
Spy On My Wall - The Underground PicturesNews Flash From I.S.S (Ijlal Secret Service)Fresh from the underground, here are some of the pictures that were taken in the dark of the night of the first Spy On My Wall Program that I just finished only few hours ago. What incredible four days - check these 4 New ISS Agents out: Here they are pumping a Super REO Agent out of all the information he could bear to give out. Here Bob and Bonnie Hoyer, Double Agents from Port Huron, Michigan are being debriefed on their blazing fast network building techniques: Graduation day ; despite the brutal hours and non-stop action, (one Spy described these 4 days as a Mind Melt, yet another said that it has redefined what real estate investment could be in Michigan): Technorati Tags: foreclosures michigan real estate investment realestate...
Mark
Michigan Foreclosure Flip by Dave and Kris KoesterYou can read Dave and Kris Koester of Burton, Michigan real estate story in the previous post but here is the picture that I got today from them. Good Deal and a very nice house. Technorati Tags: foreclosures michigan real estate investment realestate...
Mark