rei voice magazine aug-sept 2011

Aug. - Sept. 2011 REI VOICE 1

WHAT DO INVESTORS

REALLY WANT?SECURE NOTES • CHANGES IN LENDING RULES • TRUSTED RESOURCES

www.reivoice.com August - September 2011

$4.95

WHAT DO INVESTORS

REALLY WANT?

2 REI VOICE Aug. - Sept. 2011

Page 1(951) 780-5856 • www.TNGtrustdeeds.com

LOCATION: DESERT HOT

SPRINGS, CA

APPRAISED VALUE: $86,000

LOAN AMOUNT: $50,000

LOAN TO VALUE: 58.13%

PAYMENT TO INVESTOR: $375

RENT RANGE: $900-$1400

TERM OF LOAN: 8 YEARS

Property Facts:

3 BEDROOM, 2 BATHROOMS, 1,323 SF, 8,712 SF. LOT, BUILT IN 1990.

Realtor.com – Rents (Range = $900-$1,400)

# Rent Type/beds/bath/sqft Address

Lastseen

1 $900 TH 3 br/2 ba 1,294 sqft 66444 Desert View Ave Desert Hot Springs,

CA 92240

7/13/2010

2 $900 SFH 3 br/2 ba 1,412

sqft

13725 Richard Way Desert Hot Springs, CA

92240

7/13/2010

3 $900 SFH 3 br/2 ba 1,200

sqft

65635 Avenida Ladera Desert Hot Springs,

CA 92240

7/13/2010

4 $1,025 SFH 3 br/2 ba 1,371

sqft

13227 Calle Amapola Desert Hot Springs,

CA 92240

7/13/2010

5 $1,100 SFH 3 br/2 ba 1,385

sqft

10775 Ambrosio Dr Desert Hot Springs, CA

92240

7/13/2010

6 $1,200 SFH 3 br/2 ba 1,550

sqft

10761 San Miguel Rd Desert Hot Springs,

CA 92240

7/13/2010

7 $1,350 SFH 3 br/2 ba 1,904

sqft

64735 Pinehurst Cir Desert Hot Springs, CA

92240

7/13/2010

8 $1,400 SFH 3 br/2 ba 1,634

sqft

64513 Spyglass Ave Desert Hot Springs, CA

92240

7/13/2010

If you are interested in this trust deed investment and would like to see the entire appraisal,

please call the of ce at 951-780-5856 and ask for Craig Hill.

We currently work with several self-directed IRA companies to enable our investors to fund

these through retirement accounts. If you’d like a list of IRA rms, please call the of ce and

ask for Aaron Norris or Diana Barlet.

Below are a few recent examples of trust deeds available through The Norris Group.

Location: Fontana, CAAppraised Value: $170,000Loan Amount: $102,000Loan to Value: 60%Payment to Investor: $765 per month

Location: Desert Hot Springs, CAAppraised Value: $86,000Loan Amount: $50,000Loan to Value: 58.13%Payment to Investor: $375 per month

Location: Hesperia, CAAppraised Value: $92,000Loan Amount: $55,000Loan to Value: 59.78%Payment to Investor: $412 per month

Location: Victorville, CAAppraised Value: $75,000Loan Amount: $45,000Loan to Value: 60%Payment to Investor: $562 per month

To receive property information sheets of available trust deeds and a copy of our free book and DVD on trust deed investing, call our office at 951-780-5856.

Page 1

(951) 780-5856 • www.TNGtrustdeeds.com

LOCATION: FONTANA, CAAPPRAISED VALUE: $170,000LOAN AMOUNT: $102,000LOAN TO VALUE: 60%PAYMENT TO INVESTOR: $765RENTED: $1,650 PER MONTHTERM OF LOAN: 8 YEARS

Property Facts:Duplex with total of 3 bedroom, 2 Bathrooms, 1,470 sf, 9,000 sf. lot, built in 1949. One two bed-

room on bath unit and single one bedroom one bathroom.

If you are interested in this trust deed investment and would like to see the entire appraisal,

please call the of ce at 951-780-5856 and ask for Craig Hill.

Zilpy.com – Rents (One Bedroom) #

Rent Type Address

Lastseen

1 $775 TH 1 br/ 9351 Bennett Ave, Fontana CA, 92335 6/4/2010

2$750 TH 1 br/

Bennett & Randall, Fontana CA, 92335 5/8/2010

3 $750 SFH 1 br/1 ba 8569 Rosena Ave, Fontana CA, 92335 7/15/2010

4$850 SFH 1 br/

16550 Arrow Blvd, Fontana CA, 92335 7/3/2010

5 $650 SFH 1 br/ 8047 Cypress, Fontana CA, 92336 6/4/2010

6$775 SFH 1 br/1 ba Sierra Ave & Valencia Ave, Fontana CA,

92335

1/17/2010

7 $675 SFH 1 br/1 ba Sierra Ave, Fontana CA, 92335 1/8/2010

Zilpy.com – Rents (Two Bedroom) #

Rent Type/beds/bath/sqft Address

Lastseen

1 $895 TH 2 br/1.5 ba 875 sqft 9151 Date St, Fontana CA, 92335 7/15/201

0

2$945 TH 2 br/1.5 ba

16235 Randall Ave, Fontana CA, 92335 7/15/2010

3 $950 TH 2 br/1 ba 17898 Marygold Ave, Bloomington CA,

92316 5/8/2010

4$945 TH 2 br/

Randall Ave & Citrus Ave, Fontana CA,

92335 7/3/2010

5$1,100 SFH 2 br/1 ba

16751 Hawthorne Ave, Fontana CA, 92335

7/3/2010

6$850 SFH 2 br/1 ba 800 sqft 9210 Pepper, Fontana CA, 92335

5/18/2010

7 $850 SFH 2 br/1 ba 9258 Pepper Ave, Fontana CA, 92335 5/8/2010

8$800 SFH 2 br/1 ba 950 sqft 9142 Pepper Ave, Fontana CA, 92335

40374

9 $775 SFH 2 br/1 ba 875 sqft 9148 Pepper Ave, Fontana CA, 92335 40264

10 $950 SFH 2 br/1 ba9040 Cypress Ave, Fontana CA, 92335 40333

1 bedroom

2 bedroom

w w w.TNGt rustdeeds.com951.780. 5856

Cal i for nia D ep ar tm ent of R eal E s t ate, R eal E s t ate Bro ker Br uce N or r is F inancia l G roup Inc .

D BA T h e N or r is G roup D R E L icens e 01219 911

California Trust Deed Investing

Savings accounts, CDs, and stocks have offered dismal returns over the past several years. The Norris Group’s trust deed investments earn 9% return backed by discounted, cash-flowing, California real estate.

Since 1997, our experienced team of experts has originated California trust deed investments to private individuals, corporations, nonprofits, and retirement accounts (including IRAs).

Our large network of professional real estate investors borrow millions

of dollars every month and demand continues to increase. We scrutinize every deal and every borrower before a trust deed is ever presented to our private money sources.

You can feel good knowing your resources are helping investors clean up neighborhoods and create jobs while simultaneously creating profits for both sides of the equation. It’s a win-win.

Visit our web site or call today to find out how to receive our free book and DVD on trust deed investing.

Not everyone has the time or the expertise necessary to be a full-time real estate investor. But there’s still a way to take advantage of the unbelievable opportunity at hand. Welcome to the world of trust deed investing.

• 9%Return

• 1stTrustDeedsOnly

• NoPooling

• 8-YearTerm

• 60-65%LTVMax

• CashFlowingCAProperties

• IdealforRetirementAccounts(IRAs)

• ExperiencedTeamofExperts

Call 951-780 -5856 or v isit our web

site today for your

Free Book and DVD.

California Trust Deed Investingby

Navigat ing the prof i table wor ld of t rust deed invest ing with the help of one of Cal i fornia’s leading hard money lending companies.

B y B ru ce N o rri s

8.875x11-IE-Magazine.indd 1 10/16/2010 10:52:31 AM


ANALySIS

6In Intimate Detail: Orlando, FLREI Voice publisher Geraldine Barry interviews Charles Fischer about the Orlando market.

8Investors want Lending Policy ChangesInvestor, Tom Wilson, and others have seen how lending policies and regulations negatively impact the U.S. real estate market. The cure he advocates includes a list of investor friendly changes to energize the investor market and pull us out of our slump.

ADvICE

11From the Trenches: Repositioning a Portfolio to Survive the CrashOne investor weathers the storm by realizing when it is time to move your assets and readjust your portfolio. Jay Hinrichs shares his highs and lows in the real estate market.

BASICS

12What Investors Really Want: WealthInvestor and portfolio manager Chris Clothier considers the difference between getting rich and building wealth. Building wealth underpins his investing strategy.

20Investors want Funding: A Guide to Using Notes and Private Loans in Real Estate InvestingNotes expert and author Lisa Moren Broma offers a clear explanation of the notes business and provides four reasons that understanding notes is important to every investor.

TRENDS

22Investors want to buy with No Money DownReal estate attorney, Jeffrey Hare, explains how “No Money Down” schemes are often too good to be true—especially with recent changes to the law. Know how to avoid bad advice and find a quality mentor.

24What’s Up (or Down) with Real Estate PricesStuart Baeriswyl, broker and investor, charts the course of housing prices in Northern California and offers insight into housing prices.

FEATURES

16What do Investors Really Want? It’s much more than money. Meir Statman, a leading expert on behavioral finance reveals how our desires shape our actions when it comes to investing.

26Battle of the Social TitansIn the left corner of the ring, Facebook. In the right corner of the ring, Google+. Social media referee and Vice President of The Norris Group, Aaron Norris, officiates the battle of the titans.

30 Ger’s Top 5

INvESTOR RESOURCES

29 The best of the best. Phone/email/web contacts.

TABLE OF CONTENTSSOUND OPINION—WISE DECISIONS: VOICE OF THE PROFITABLE REAL ESTATE INVESTOR

WINNER

of the

National

REIA Award

for Best Print

Publication


I’m proud to announce that SJREI Association, the premier real estate in-vestors association in the bay area and publisher of REI Voice Magazine, won the National REIA Award for Excellence. This award aims to encourage, recog-nize, and promote excellence among top performers in the National Real Estate Investors Association member organi-zations. Contributions to the real estate profession, innovation, and community service are a few of the criteria for success in the National REIA Award for Excel-lence. SJREI Association swept the 2010 awards, snagging the top honor as well as seven of the eight individual categories, including Best Print Communication for REI Voice Magazine!

Andrew Waite, Publisher of Real Estate Investor Magazine, said, “It is not unexpected that SJREI would be the winning contender for this honor. SJREI, and their leadership, have built an investor association model that places the success of members first. This is not lost on these clients who in turn have rewarded founder Geral-dine Barry with a growing membership when many other associations are just trying to survive.”

As President of SJREI Association, I was honored to attend the June 2011 awards ceremony in Tennessee, and as I consider how we have evolved over the last nine years, I realize that SJREI has become a reliable source for solid, truthful analysis without the hype. It is a venue where investors of all experi-ence levels can connect and become

educated on local and national mar-ket trends and conditions; determine where and when to invest; and develop a comprehensive exit strategy for in-dividual portfolios to minimize risk and maximize profit. I am so honored that National REIA recognized the out-standing programs offered by SJREI Association. I was thrilled to accept the award on behalf of my outstanding team, supportive affiliates, and vibrant membership.

SJREI Association’s superior publica-tion, REI Voice Magazine, as well as its excellent speakers and member devel-opment were singled out as factors that significantly contributed to its win.

“At the height of the downturn, many people thought numerous real estate associations would fold. Geraldine Barry and the team at SJREI defied the odds and opened more locations. It goes to show Geraldine’s and her team’s ongoing commitment to value, quality, content, and networking has really paid off in a big way,” said Aaron Norris, V.P. of The Norris Group.

Please enjoy this issue of REI Voice and stay focused on your goals as an investor: education and knowledge of your market are the keys to your suc-cess. Collaborate with people who are like minded and take action - you will be rewarded for your efforts!

Geraldine Barry

Publisher

PUBLISHER’S NOTE

WELCOMEWelcome to another edition of REI Voice Magazine. We have lots to share this issue in terms of deciphering your strategy and how to utilize the current market to build your portfolio. Are cash flow properties your goal? If you are not interested in being a landlord - passive investing in notes may be the way to go. Be sure to read our feature article “What Do Investors Really Want?” to truly understand what drives your decisions.

GERALDINE BARRy

Publisher,President

of SJREI Association

REI Voice™ MagazineA publication of SJREI Association™

PublisherGeraldine Barry | 408-264-3198

[email protected]

editor-in-ChiefSusan Hare | 408-391-8068

[email protected]

Advertising sAlesMeghan Ben | 408-264-3198

[email protected]

Art direCtorKevin Bell

[email protected]

direCtor, AdministrAtionMeghan Ben | 408-264-3198

[email protected]

PrinterWestern Web

Western-Web.net

SJREI Association is a member of NREIA®

REI Voice™ is a publication of SJREI Association™ www.SJREI.org

Reproduction or use of any editorial or graphic is prohibited. To request reprints or reprint rights, contact [email protected].

REI Voice Magazinec/o SJREI AssociationP.O. Box 90542San Jose, CA 95109-3542www.REIVoice.com

Copyright © 2011 SJREI Association. All rights reserved.


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ANALySIS

IN INTImATE DETAIL:

ORLANDO, FL


I am delighted to have the opportu-nity to interview my colleague, Charles Fischer, President of Central Florida Realty Investors, one of the largest investment organizations in the na-tion. Charles shares his insights on the Orlando market with us. As an experi-enced investor and someone who lives and works in the area, his take on the Orlando market is very informative. It is important for the savvy investor to consider the opportunities in all mar-kets. Charles makes a compelling case to seriously consider Orlando. Please enjoy our interview.

Q: How long have you been investing in real estate?

I bought my first investment prop-erty in 1999. I have only had one “corporate” job in sales. I started my investment career in 1999 and retired by age 37. This downturn has cre-ated a huge opportunity to buy qual-ity cash-flow properties and create a more solid portfolio.

Q: How would you summarize the Orlando housing market today?

I believe we are stabilizing. De-mand for low/mid priced properties is strong and inventories are drop-ping rapidly. For example, last year at this time the MLS inventory in the Orlando area was about 16,000 units, today it is about 10,000. Investors and foreigner nationals make up a large percentage of our market.

Q: Why is the Orlando market different?

Orlando is a younger area, pri-marily because we have so many ser-

vice based jobs that attract younger people. We are the largest (and only) interior metro area in Florida and, I believe, we will see an influx of resi-dents from coastal areas as property values and insurance on the coast continue to rise. We are home to world famous attractions and a new “Medical City” that is expected to pump billions into the local econo-my in the next 3-5 years.

Q: What is your investment philosophy?

I primarily buy and hold. I enjoy structuring transactions to create value that others didn’t see. With bank lending so hard to come by, the days of creative investing are back. The days of speculating are over and I buy exclusively for cash-flow. We also use private lending and creative seller-held financing to create mas-sive equity over a shorter timeline. I look for properties than can be debt-free in less than 10 years, all the while producing cash flow. Most of these are also low or no money down deals. This can be done because of the cur-rent market conditions, motivated sellers, reduced values and strong cash flow—this is a market conflu-ence that I have not seen before.

Q: What are you currently investing in?

Multi-family and single family, also some beach side properties for short term rental.

Q: What are the economic drivers in Orlando?

Disney, of course, and all the at-

tractions that surround it. University of Central Florida is a big boost to the east side of town, and the new Medi-cal City is providing construction jobs now and high paying medical and research jobs in the near future.

Q: How do the employment numbers look?

Currently about 9.9%. The outlook is for improvement, but it will take some time. Florida is traditionally a high beta state and is subject to larger than normal swings in values and unemployment.

Q: How are rents trending?Rents appear to be on the rise.

The data show a small increase in rents with demand that is growing. I attribute this to the lack of bank financing and the large percentages of owners that have lost homes to foreclosure.

Q: Where are the opportunities in your opinion for investors?

Our market offers the opportunity for strong cash flow with double-digit returns. Motivated sellers are provid-ing some excellent financing options on quality residential and multi-fam-ily properties. Our recent experience show that lenders are getting more efficient at processing short sales, our approval ratios are increasing, and the time to close is shrinking. Foreclosures are experiencing more competition, but still hold strong value. All in all, the current market is providing great opportunity for the investor who sees the value and is positioned to take advantage of it.

An Interview with Charles Fischer by Geraldine Barry

CHARLES [email protected]


sold homes sitting on the market. If owner occupants cannot absorb two-thirds of the housing inven-tory, who will?

Clearly the only ones who can do that are investors. Not only do they absorb foreclosure inventory and provide housing, but by using their capital for improvements they also remove blight from neighborhoods, thereby improving property values and local tax revenue.

If more investor financing is made available, the absorption rate will accelerate and with it the end of our real estate crisis becomes more tangible. Historically, the real estate economy has always played a leading roll in our national recovery from recessions.

What do investors need to move forward? I believe the following three-year changes in loan policies:• Increasetheamountofavailable

loans to qualified investors to an unlimited number for three years (as it was in the past)

• Make the 203K loan programmore available to investors (loans that include funds for

improvements)• Allow “simple assumptions”

of any Fannie, Freddie, or FHA loans

• Allow equal access to all gov-ernment-owned inventory for investor and owner-occupants alike

• Accept more reasonable cashreserves requirementsWhat do lenders have to lose

by these changes? Very little. The long term investor delinquency rate is no higher than that of owner occupants and it is actually lower for FHA loans. Current and traditional investors are not spec-ulators; they add value and expe-rience to the process of turning empty homes into family homes. Finally, many of the changes that investors seek are roll-backs to the policies in place before loosening of lending policies fueled pur-chases by under-qualified buyers. Investors don’t just want, they know these changes are essential to the recovery of the real estate market in the U.S.

To promote these ideas with

the policy makers at Fannie Mae and HUD, I recently joined Howard Blum, President of The Financial News and Information Service, Bruce Norris, President of The Norris Group, and Sean O’Toole, CEO of Foreclosure Ra-dar, in Washington D.C. to dis-cuss the potential of easing the requirements for investor loans. Our audience of 15 including, 6 vice presidents, demonstrated that Fannie Mae and HUD are serious about wanting to improve the situation and are willing to consider new ideas. They felt that since multiple rental properties can be justified and supported by income rather than just borrower financials, a hybrid product could be considered that is a bridge be-tween traditional residential and multifamily loans. The main hurdle yet to overcome is framing a policy that would be politically acceptable to both congress and the public.

Contact Tom Wilson at

408-867-1867

[email protected]

by Tom Wilson

This is the best window of op-portunity of our lifetime to pro-cure real estate for long-term hold. Unfortunately, the pendulum at capital hill and Wall Street overre-acted to the short-term speculative investors at the height of the bubble and has swung too far back to con-servative terms for investor loans, thus impeding the ability of inves-tors to get homes off the market and occupied.

This is not just a problem for investors who want to further build their retirement portfolios and re-duce their personal dependence on the country’s overburdened social programs. It is also a serious detri-ment to this country’s economic need to accelerate the process of rectifying our debt crisis from un-derwater real estate.

Currently 25% of the nation’s and 35% of California’s home loans are upside down in spite of over three years of a high rate of foreclo-sure sales. And yet the rate of fore-closure sales is less that a quarter of the rate that they should be relative to the rate of delinquencies (Table A). This has resulted in a “shadow housing inventory” of 42 months at the current absorption rates. So far. As a nation it appears that if some-thing doesn’t change it will take 4-7 years to get to a more normal and sustainable home sales environ-ment and continuum.

And as if this situation were not enough, to further amplify the problem, only 33% of sellers and those losing their homes are willing or able to repurchase. That’s right, 67% of former homeowners have moved from buying to renting. We have an escalating problem of un-

ANALySIS

INvESTORS WANT:Lending Policy Changes Essential to Real Estate Recovery

Tom Wilson has executed

over $100M and 1,600 units of

real estate deals over 35years.

He first invested as a part-time

activity, and then after thirty years managing some of Silicon

Valley’s pio-neering tech-

nology compa-nies, Mr. Wilson put his business

and manage-ment experi-ence toward fulltime real

estate invest-ing. Wilson Investment Properties

provides high-cash flow, high-quality, and low risk investment

properties.

DelinquenCies vs. ForeClosures TrusTee sale ProGression (Ca)Source: Source: LPS, ForeclosureRadar.com, and The Norris Group.


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SOUND OPINION—WISE DECISIONS: VOICE OF THE PROFITABLE REAL ESTATE INVESTOR

10 REI VOICE June 2011

National Real Estate Investors Association Recognizes

SJREI Association

2010 Award of ExcellenceFor Best Small REIA

and

2010 Honors of Merit Award for Membership Development2010 Honors of Merit Award for Printed Communications

2010 Honors of Merit Award for Electronic Communications 2010 Honors of Merit Award for Professional Education

2010 Honors of Merit Award for Community Service2010 Honors of Merit Award for Government Affairs

2010 Honors of Merit Award for Finance

The National REIA Awards for Excellence aim to encourage, recognize, and promote excellence among top performers in its member organizations.

Contributions to the real estate profession, innovation, and community service are a few of the criteria for success in the National REIA Award for Excellence.

SJREI Association’s superior publication, REI Voice Magazine, as well as its excellent speakers and member development were singled out as factors that significantly contributed to its win. Congratulations to Geraldine Barry, President of SJREI Association, and her team for their exceptional contributions to the field of real estate investing.


By Jay Hinrichs

As a life-long investor and private money lender, life was never better in the early 2000’s. Our companies had grown exponen-tially; we had amassed a sizable portfolio of real estate that was well diversified, and our private money division had grown from $5 million in loans to almost $25 million. Our specialty in the private money arena was funding investor fix and flips for resale, or to refinance and hold as a cash flow rental.

In 2006, we made a decision to sell off most of our west coast properties for the lending company, prices had just risen too far and too fast. We understood that as a lender on the west coast, if our clients defaulted, the prop-erties would not cash flow and losses were inevitable. Then we focused on eight mid-western states and making loans at $50,000 to $75,000 per house with the strategy that if those loans defaulted we would end up with a cash-flow rental. We completed 400 loans a year between 2005 and August of 2008, and those were the very profitable years for our business.

Things changed dramatically in August, 2008 when the financial markets crashed. We had about 125 foreclosures and took some pretty significant losses, although liquidating our west coast properties protected us signifi-cantly. We dealt with foreclosures in the South East areas and we were able to get properties back in our name in 60 days. We also got a fair amount of Deed’s In Lieu and of course worked out loan modifications when appropriate. When your borrower goes dark the only way to assess your collateral is to literally knock on doors, which is what I did. This activity opened my eyes to the risks associated with owning rental properties under the following circum-stances: (Investor take note!)1. You are under-capitalized 2. Inexperienced with property management3. Buying property based on forecasts that grossly understate operating costs and vacancies

For these reasons, and the falling prices,

investors walked away from rentals in droves. Based on my experiences, 50% of foreclo-sures are on non-owner occupied properties, where the owners just give up because the experience is overwhelming and they are un-prepared for the rigors of owning rentals. (It has been stated many times at SJREI events that owning rentals is a job, I cannot stress enough how true that statement is.)

When it was time to reposition our com-pany and our portfolio, I stabilized the prop-erties that we foreclosed on, sold a few on contract, and held on to the 60 rentals that cash flowed.

Rents are still very strong, and vacancies are very low in our target markets. There has never been a better time to buy these assets. When I looked at the wholesale market, I saw properties on which I had written loans now available for 80% LESS than my hard money loan. Purchasing at those price points, the cash flow is off the charts. Average DCR (Debt Coverage Ratio) is 2 to 4 times our average mortgage payment, providing incredible cash flow, and security for the asset and to bank or investor. These excellent buying op-portunities allow us to complete rehabs that are far above industry norm.

How did we survive the crash? We sold negative cash flow portions of the portfolio; and secured some incredible land bank-ing properties in the Portland metro area, my home town. In the Portland market, the bank-owned new construction has already flushed through the system. However, there are still huge numbers of bank-owned lots. Our local banks are feeding us building lots and we are cost effectively building spec homes in small quantities. Lastly, we are building a very large portfolio of cash-flow rentals in the South East taking advantage of the low prices and incredible cash flow they provide to us and our investor partners.

Contact Jay Hinrichs at

888-285-1900

[email protected]

ADvICE

FROm THE TRENCHES: REpOSItIOnIng A pORtfOlIO

tO SuRVIVE thE CRASh

Jay Hinrichs serves as a managing

owner of True Wholesale

Houses. Since 2003 Mr. Hinrichs has served

on the Board of Directors of Silverado

Group and other affiliated

companies of Silverado Group—one

of which is a private

money lender where over 1,500 loans

were made in the States of Mississippi,

Georgia, Alabama,

Michigan and Indiana.


BASICS

by Chris Clothier

I believe that I have the greatest job in the Real Estate industry! I spend my days talking to investors from around the country and sometimes very far away countries and get their unique perspectives on why they are investing in real estate. The list of reasons is long and varied, but one underlying reason always comes into the conversation: investors want to build wealth.

An investor surprised me recently with her personal stance on real estate. She said “no one has ever gotten rich off of cash flow.” To me, this sounded like a statement from someone who didn’t fully understand the power of monthly positive cash flow and the im-pact it can have on building wealth. It sounded like a statement from some-one still living in the delusional world of “I’m waiting for the market to turn around so I can get rich quick on ap-preciation.”

Getting “rich” could very well be a big part of the problem when it comes to understanding the power of posi-tive cash flow and wealth building. Be-ing rich is often defined as having the ability to purchase whatever you want when you want it. Building true wealth on the other hand, is often defined as being able to purchase whatever you need when you need it AND passing that same ability onto the next gen-eration and the next generation and so on. Being rich is a financial ability that

many chase actively, expecting to sud-denly be able to define their current situation with that moniker. Being wealthy on the other hand, takes time and planning. Building true wealth takes patience and very careful deci-sion making. When it comes to using real estate as a vehicle to build wealth, positive cash flow is a must.

Building wealth in today’s real es-tate market requires an investor to look at several factors before deciding to move forward on an investment deal. The single most important to fac-tor to consider before investing in any piece of real estate is “will this prop-erty cash flow on a monthly basis?” Whether investing in single-family homes, multi-units or mobile home parks, it is vital that the investment lands on the positive side of the ledger each month.

Weighing factors such as price, location, potential occupancy rates and performance of a property in year three, four, five and so on, are all ex-tremely important. But when speaking with investors I stress that the bottom line at the end of the month is what matters most when it comes to build-ing sustainable long-term wealth. If it is not showing positive cash flow, regardless of what the future holds and the unpredictable prospects of a rebounding market, it is not a proven formula for building wealth.

Wealth is built with real estate over time by allowing a piece of investment

property to perform. If an investor makes a leveraged purchase and has a note each month, then the monthly collected rent pays down that note and the investor has the opportunity to use the positive cash flow to retire the debt quicker by making extra principal payments.

The quicker you are able to own the property outright, having used the rent a tenant pays each month, the quicker that property provides a stable monthly income. Investors who are using real es-tate to build wealth develop a portfolio of such properties that will provide that stable income for years to come. That portfolio can be used to supplement retirement, to provide college funding, and even to provide the opportunity to pass wealth onto future generations.

Real estate investors have been using this technique for decades to acquire property over time. Their re-turn becomes almost incalculable as it grows. Allowing others to pay down your debt and then pay into your return is the most effective and time-tested method for building true long-term and sustainable wealth. So the next time an experienced investor tells you that cash flow does not mat-ter and appreciation is the path to get rich, let them know you are not inter-ested in getting rich. You are too busy building wealth.

Contact Chris Clothier at

877-773-9998

[email protected]

WhAT INvESTORS REALLy WANT:WEALTh

Chris Clothier is a self-made entrepreneur

who has worked with other

members of the Clothier

family to build MemphisInvest.

com, the larg-est real estate

investment firm in the Mid-

South and the largest, pri-

vate property seller in West

Tennessee. Along with his

family, Chris is passionate about assist-

ing real estate investors and

real estate investment

companies and actively sup-ports others.


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I Survived Real Estate 2011 October 14Nixon Library, yorba Linda, CA

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FEATURE

WHAT DO INVESTORS

REALLY WANT?

Meir Statman is a lead-ing expert on behav-

ioral finance, Glenn Klimek Professor of

Finance at the Leavey School of Business,

Santa Clara University, and Visiting Professor

at Tilburg University in the Netherlands. He

attempts to understand how investors and man-

agers make financial decisions and how these

decisions are reflected in financial markets. In

this article, Mr. Statman shares lessons from

his latest book, What Investors Really Want:

Know What Drives Investor Behavior and

Make Smarter Financial Decisions.

by Meir Statman

Reprinted with permission from Santa Clara Magazine, Summer 2011.

At a dinner party some years ago, a fellow guest, an engineer who had learned that I am a professor of fi-nance, wanted to know where he could buy Japanese yen.

“Why do you want to buy Japanese yen?” I asked.

“Because its value is sure to zoom past the American dollar,” he said. He proceeded to list the American budget deficit, its trade deficit, and other indi-cators of the advantage of the Japanese yen over the American dollar.

I wanted to tell my fellow guest quick-ly and gently that, while his thinking is quite normal, it is not very smart.

“Buying and selling Japanese yen, American stocks, French bonds, and all other investments,” I said, “is not like playing tennis against a practice wall, where you can watch the ball hit the wall and place yourself at just the right spot to hit it back when it bounc-es. It is like playing tennis against an opponent you’ve never met before. Are you faster than your opponent? Will your opponent fool you by pre-tending to hit the ball to the left side, only to hit it to the right? Think for a moment,” I said to my fellow guest. “You are on one side of the net, think-ing that the yen will go up. Your op-ponent is on the other side, thinking that it will go down. One of you must be the slow one. Have you considered the possibility that the yen seller might be Goldman Sachs, Barclays, Bank of Tokyo-Mitsubishi UFJ, or another of many traders in the yen market who have offices in both Tokyo and New York and know more about both the Japanese and American economies than you can learn from your morn-ing’s Wall Street Journal?”

Yet there is more to investing and tennis than faulty thinking. My fel-low guest wanted to make money on his yen trade, but he also wanted to feel the thrill of winning when the yen zooms. He wanted to express himself as a player in financial markets, not

Meir Statman is a lead-ing expert on behav-

ioral finance, Glenn Klimek Professor of

Finance at the Leavey School of Business,

Santa Clara University, and Visiting Professor

at Tilburg University in the Netherlands. He

attempts to understand how investors and man-

agers make financial decisions and how these

decisions are reflected in financial markets. In

this article, Mr. Statman shares lessons from

his latest book, What

Investors Really Want:

Know What Drives

Investor Behavior and

Make Smarter Financial

Decisions.


one who stands at the market’s side-line. And he wanted to be a member of the investing community, the commu-nity of people who observe financial markets, trade in them, and share their experiences with one another.

We are intelligent people, neither irrational nor insane. We are “normal smart” at times and “normal stupid” at other times. We do our best to increase the ratio of smart behavior to stupid behavior, but we do not have comput-ers for brains, and we want benefits computers cannot comprehend.

We want high returns from our in-vestments, but we want much more. We want to nurture hope for riches and banish fear of poverty. We want to be number one and beat the market. We want to feel pride when our invest-ments bring gains and avoid the regret that comes with losses. We want the status and esteem of hedge funds, the warm glow and virtue of socially re-sponsible funds, and the patriotism of investing in our own country. We want good advice from financial advisors, magazines, and the Internet. We want to be free from government regula-tions yet be protected by regulators. We want to leave a legacy for our chil-dren when we are gone. And we want to leave nothing for the tax man. The sum of our wants and behaviors makes financial markets go up or down as we herd together or go our separate ways, sometimes inflating bubbles and at other times popping them.

uTiliTarian, exPressive, anD

eMoTional

The benefits of a job come in pack-ages, and we face trade-offs as we choose among them. A lawyer who wants to earn money but is also pas-sionate about public advocacy can choose a public advocacy package with little money and much passion or a corporate law package with more money but less passion. Investments are like jobs, and their benefits extend beyond money. Investments express parts of our identity, whether that of a trader, a gold accumulator, or a fan of hedge funds. Investments are a game

to many of us, like tennis. We may not admit it, and we may not even know it, but our actions show that we are will-ing to pay money for the investment game. This is money we pay in trad-ing commissions, mutual fund fees, and software that promises to tell us where the stock market is headed. And investments are about what we would do with the money we make and how it makes us feel. Investments are about a sense of security in retirement, the hope of riches, joy and pride of raising our children, and paying for the col-lege education of our grandchildren.

Investments, jobs, products, and services have benefits that enhance wealth, well-being, or both. These include utilitarian benefits, expres-sive benefits, and emotional benefits. Utilitarian benefits are the answer to the question, What does it do for me and my pocketbook? The utilitarian benefits of watches include time tell-ing; the utilitarian benefits of restau-rants include nutritious calories; and the utilitarian benefits of investments are mostly wealth, enhanced by high investment returns.

Expressive benefits convey to us and to others our values, tastes, and status. They answer the question, What does it say about me to others and to me? A stock picker says, “I am smart, able to pick winning stocks.” A Goldman Sachs client says, “My status is high enough to be selected to invest $2 mil-lion or more in Facebook shares.”

Emotional benefits are the answer to the question, How does it make me feel? Insurance policies make us feel safe, lottery tickets give us hope, and an offer to be among the first to own Facebook shares makes us proud.

WHaT We WanT ... anD WHaT We

sHoulD

We are not embarrassed to admit that we want our investments to sup-port us during our years in retirement. Neither are we embarrassed to admit that we want our investments to sup-port our children or favorite charities. But some of what we want from our in-vestments is embarrassing, such as our

wanting status. We might want to men-tion our investments in hedge funds, knowing that hedge funds signal high status because they are available only to the wealthy. But a loud expression of status, like a loud display of an oversize logo on a Gucci bag, can bring embar-rassment rather than an acknowledg-ment of status.

Wants are also difficult to acknowl-edge because they often conflict with shoulds. The voice of wants says, “I want this new red sports car,” but the voice of shoulds says, “You should buy a used sedan and add the difference in price to your retirement account.” Investment advice is full of shoulds: Save more, spend less, diversify, buy-and-hold. Wants are visceral while shoulds are rea-soned. Wants emphasize the expressive and emotional benefits of investments while shoulds emphasize the utilitarian ones. Wants often drive us into stupid investment choices, while shoulds drive us mostly into smart ones.

WHaT sHoulD We ask, as

inDiviDuals anD soCieTy?

The first question I ask myself, as an individual, is, What do I want from my investments? The second is, How can I get what I want? You might wish to ask the same questions. Do you want enough money for a secure retirement, help for your children, and perhaps a contribution to Santa Clara Univer-sity? Do you enjoy tinkering with your mutual funds as others enjoy tinkering with vintage cars? Do you care about the status conveyed by your hedge funds as others care about the status conveyed by luxury cars? Trade-offs are common in investments as in all of life, and most wants are reasonable if pursued in moderation. Heavy trading of investments is more likely to shrink your portfolio than expand it, but light trading might add to your enjoy-ment more than it detracts from your comfort in retirement. Yet it is foolish to trade retirement comfort for a vain hope for investment profits higher than their risks. Remember that there is an idiot in every trade. Are you really sure that you are not that idiot?

“The sum of our wants and behaviors makes financial markets go up or down as we herd together or go our separate ways.”

The question I ask myself as a mem-ber of society is, Should government regulations lean toward libertarian-ism, freeing us to invest as we wish, or should government regulation tilt toward paternalism, constraining choices to protect us from ourselves and from others? Should government protect home buyers from the cog-nitive errors and emotions that lead them to sign mortgage documents before they have read them because the stack of documents is too high and the emotional pull of homeownership is too strong? And should the govern-ment protect us, the neighbors of fool-ish and emotional homeowners, from the consequences of their likely defaults and foreclosures? Changes in regula-tions over time reveal our continuing attempts, through the legislative pro-cess, to find the right balance in the tug-of-war between those who pull toward the libertarian end and those who pull toward the paternalistic end.

That tug-of-war goes on because we cannot agree on the perfect balance be-tween them. The awkward balance be-tween them is reflected in a government that provides both Social Security and lotteries. The first is paternalistic, forc-ing us to save when we are young, and saving us from poverty when we are old. The second is libertarian, giving adults the freedom to spend as much as they want for hope at riches.

Investments are about life beyond money, and that we should enjoy all the benefits of investments—utilitari-an, expressive, and emotional. We can enjoy these benefits ourselves, indulg-ing in a few luxuries, or we might enjoy them with family, friends, and people in our neighborhoods and faraway continents. But, in the end, we cannot take our investments with us.


The Norris Group’s award-winning event returns October 14, 2011 to the Nixon Library in Yorba Linda, California. We’re assembling an incredible line up of accomplished industry specialists to discuss the state of the real estate including on-going industry regulations, upcoming legislation you have to know, bailouts, and opportunities for real estate professionals.

100% of all proceeds go to Susan G Komen for the Cure. Together, we’ve won numerous awards and raised over $180,000 in three years. Our Who’s Who Round Table for 2011 Includes:

This is a rare opportunity to see a multi-sector real estate panel bat around industry issues and solutions while offering unparalled insights. It’s also a tremndous opportunity to network with hundreds of other fellow real estate professionals from all over California.

Along the way, you’ll help raise funds for a tremendous cause. Since 2008, I Survived Real Estate has been responsible fpr raising over $180,000 for Susan G Komen for the Cure, the largest nationwide breast cancer research nonprofit.

A Powerhouse Lineup of Top Industry Experts Presents the Insider’s Edge on The State of Real Estate 2011

www.ISurvived2011.com or 951-780-5856

Bruce Norris President

The Norris Group

Sara Stephens President Elect

Appraisal Institute

Vicki Golder Immediate Past President National Association of Real-

tors

Sean O’Toole President

Foreclosure Radar

MVT PRODUCTIONS

Eric Janszen Economic & Financial

Analyst of iTulip

Doug Duncan Chief Economist

Fannie Mae

Deb Still 2011/12 President Elect

Mortgage Bankers Assoc.


INVESTORS WANT

FUNDING: A Guide to Using Notes

and Private Loans in Real Estate Investing

BASICS

PORTFOLIOBUILDINGPRIME LISTS GREAT SUPPORT COMPREHENSIVE SERVICESPRIME LISTS GREAT SUPPORT COMPREHENSIVE SERVICESPRIME LISTS GREAT SUPPORT COMPREHENSIVE SERVICES

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“I know investors who buy homes for cash and then resell them using seller-financing. It’s a great business when you know what you’re doing. If you don’t, well, you aren’t helping yourself or helping rebuild America. Lori Greymont coaches people new to the business of bulk REOs and seller-financing. She and her team have the skill and patience teach people how to succeed......What’s not to like?”—Odell Barnes

Register online for our FREE webinar or call today for more information.

Call 1-888-440-6826SummitAssetsGroup.com

Summit Assets Group sells cash flowing properties to investors and homeowners nationwide from Bulk REO lists. Our products include Single fix and flip properties, Bulk Purchases, and Cash Flowing properties. We support you every step of the way so you can build a cash-flowing portfolio quickly and most importantly—successfully.

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We help you avoid the pitfalls and reap the greatest reward building a portfolio of cash flowing properties from Bulk REO lists—one, ten, or 100 houses at a time

Summit Assets Group sells cash flowing properties to investors and homeowners nationwide from Bulk REO lists. Our products include Single fix and flip properties, Bulk Purchases, and Cash Flowing properties. We support you every step of the way so you can build a cash-flowing portfolio quickly and most importantly—successfully.

At Summit Assets Group, we don’t just talk the talk. Every member of my team has personal

experience working with bank owned properties. We are constantly analyzing and purchasing lists for the company and for investors. We’ve placed hundreds of families into homes they can afford. And we’ve made money doing it. There are far more foreclosed properties than one company can purchase, that’s one reason we share our experience with others.

As CEO, I believe that our success comes from repeat business—that is why each of our clients is treated like our only client. It is also why I am passionate about training and mentoring.

When you’re ready to enter this fast-paced, lucrative business, please give us a call.

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Lisa Moren Bromma is the author of Promote Your

Note Business, a marketing program for the private mortgage industry; Soup to

Nuts, a CD series covering every-thing you need to know to become a successful real estate inves-tor; Real Estate

Investing for the

Utterly Confused;

and Wise Women

in Real Estate.

by Lisa Moren Bromma

Many successful real estate investors use notes as a strategy to acquire property, and some have even developed a note bro-kering investment business. Often land-lords who have held property for years, will create a note and continue to collect income from the same property. Instead of rental income, they developed income based on paper. I would like to share some basic information on notes, how real estate investors use them, and ways you can cre-ate paper to increase your yield.

What is a note?

A Promissory Note is an IOU. Let’s say you purchased a property for $100,000. You put $10,000 down, and the owner of the property financed the sale for $90,000. You signed a Promissory Note, which basically states that you promise to pay back $90,000 over 30 years at 10% interest.

If you default on your payments, the security interest in the form of a mortgage, deed of trust or land contract (depend-ing what state you reside in), allows the seller to foreclose on the said property. The promise of repayment was broken,

therefore the seller, thanks to the security instrument, has the legal right to take back the property.

Why is a seller-financed note important

to a real estate investor?

There are several good reasons why real estate investors should not only under-stand notes, but by learning how to create a marketable note you can build business, close on transactions faster, and increase your profit.1. If you are looking for financing, convinc-

ing the owner to finance a sale for you allows you to tie up a property and flip it whenever you are ready.

2. As a rehabber or flipper of property, imagine the number of buyers who will line up to purchase your properties since you are willing to owner-finance the sale. There are institutional buyers of notes out in the marketplace ready to assist your need to convert payments to cash.

3. Savvy real estate investors use notes to increase their profits. They will take back a second since, if the buyer defaults, they can take their property back and resell it again.

4. If you finance the sale of your investment

property, you can sell only the stream of payments you need. You do not have to sell the entire note. Note investors will buy partial payments, split payments as well as balloon payments. Many success-ful real estate investors will keep tail ends of payments, meaning they will sell the first 12 of 15 years of payments to the institutional investor, and keep the last 3 years of payments in their IRA. If the payer of the note refinances the property with a bank or the loan paid off early, look at what your return would be!

By knowing a little about the note busi-ness, you enhance your real estate invest-ments. Next time a property becomes available and you need financing, go to the seller. When you have a property for sale that has been lingering on the market, try offering seller financing and see what hap-pens. If you are looking for a dependable passive income, look at note investing as an opportunity for the safety and security of the investment.

Contact lisa Moren Bromma at

[email protected]

BASICS


by Jeffrey Hare

“No Money Down!” Can a clever investor realistically expect to make money in today’s real es-tate market with no money down? Each year, thousands of people sign up for seminars to learn about wholesaling and similar techniques that promise to make them wealthy without having to invest their own money. These programs are promoted at semi-nars which often sell books, CDs, and tapes, as well as “coaching” and “mentoring” programs.

Are these programs legitimate? Sometimes promoted as whole-saling, the “no money down” ap-proach has been around for years. For the new investor with little or no money to invest, this approach offers an opportunity to get start-ed in real estate investing.

Here’s how it works: You find a property owner willing to sell for substantially less than full market value, make an offer, and get the seller to sign a contract. You then assign this contract to an investor – most likely a rehab-ber – and collect a referral fee, or sell the property for a profit. You invest nothing but time and ef-fort to find the deal, and collect cash. In theory, you could earn a fair income without having to pay a dime of your own money. Slick brochures and flashy web sites promise to teach you all the tricks, provide all the forms, and for only a few dollars more, be your Coach or Mentor.

Does it work? Like most pro-grams that promise you the op-portunity to make money in real estate, the answer depends on several factors, including quality of the program, real estate mar-

ket conditions, and the amount of time and effort you are willing to commit. Unfortunately, un-der current market conditions and recent changes in State laws, wholesaling can be extremely challenging – and put you at risk of serious fines and penalties if you are not careful. This is not to say that you can’t make money wholesaling, but you’ll have to work twice as hard for half the profit. Be very skeptical of any claims or testimonials made be-fore 2008.

What has changed? For one, the entire housing market. Prior to 2008, the ideal wholesaling deal involved finding a motivated

property owner with lots of eq-uity willing to trade profit for the convenience of a quick as-is sale. Today, most sellers are underwa-ter or have very little equity, effec-tively reducing the potential profit margin to zero. Almost half of all home sales are short sales, which require longer escrows and often fail to close. As housing prices continue to drop, investors are cautious. Quick flips are scruti-nized. The days of the double es-crow are over.

To succeed, the wholesaler must cast a wider net to find suit-able properties. This increases the probability that they will end up in the crosshairs of State and Federal

regulatory agencies armed with new and tougher laws aimed at protecting distressed homeown-ers from scams. The California Department of Real Estate is actively prosecuting unlicensed individuals who they determine are engaged in real estate ac-tivities that require a license. The Attorney General’s Offices requires anyone who meets the definition of a “foreclosure con-sultant” to register and post a special bond (CC §2495). Hom-eowners who have been issued a Notice of Default have a 5-day right of cancellation of a sale, and must be provided a special Notice of this right (CC §1695). Violations could result in fines and even jail. Some out-of-state wholesaling training programs fail to address these new California requirements.

To summarize, times have changed. Perform due diligence before you pull out your credit card for a no-money-down train-ing program. If the program makes promises that sound too good to be true, it probably is. Be patient, get the facts, read the reviews, and consult with a pro-fessional. Make certain the mate-rials are current and relevant for today’s real estate market. Join a local real estate investment as-sociation that promotes educa-tion and networking. There are affordable, legitimate programs that do a great job of teaching new investors how to get started and succeed in this turbulent real es-tate market as long as you do your homework to find one.

Contact Jeffrey Hare at

408-279-3555

[email protected]

TRENDS

INvESTORS WANT TO BUy WITh NO MONEy DOWN

Jeffrey B. Hare, Attorney

at Law, pro-vides out-

come-oriented legal services to real estate

investors, commercial

and residen-tial property owners, and

real estate developers.

As a land-use attorney and

real estate investor, Mr.

Hare provides clients with a pragmatic

but thorough approach to

due diligence, contract

review, and negotiations.

He has vast experience in entity forma-

tion (LLCs, etc.) for check-book IRAs and other business

purposes.


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TRENDS

By Stuart Baeriswyl

For the past two or three years, since the dramatic 2008 through early 2009 real estate price bust, residential real estate inventory levels have normalized in many Bay Area cities. So the question is this, why have we not seen any corresponding responsiveness in the form of price stability or per-haps early signs of modest price appreciation in those markets? One widely reported reason for lack of appreciation is that there are too many of financially dis-tressed properties on the market. If a neighborhood has a signifi-cant number of short sale and bank owned (REO) properties for sale in it, there are good reasons to expect that home values will be low. This is common sense be-cause many of these properties are priced at a discount.

Tara Cook, an REO Agent with the real estate Brokerage firm Customer Service Reality (CSR) revealed recently that in Silicon Valley one in every 223 housing units had received a foreclosure notice in March (Nationally, it’s one in every 542 housing units). Also, she found that only 19% of Silicon Valley’s foreclosure inventory is currently in the “bank-owned status” in the Mul-tiple Listing Service (MLS), with most volume still described as pre-foreclosure. It does seem clear that there is a very real and looming shadow inventory of dis-tressed properties.

There are some very good rea-sons why prices have not yet gone up in bay area markets. First of all, it has become much harder for potential home buyers to qualify

for a loan, including a significant segment of the population who now who have damaged credit after having just previously gone through a foreclosure or short sale. Additionally, loan limits are trend-ing downward which is an issue for the expensive housing markets, such as those in the bay area.

Second, historically it has been shown that economic recoveries follow a housing recovery. If this is the case then we really do have a problem. Bruce Norris, of The Norris Group (TNG), an experi-enced investor, private money leader, and real estate educator has stated that for a price recov-ery to occur for any given area, a strong employment base must be in place or growing. The avail-ability of jobs creates a migration to that area, which then attracts home buyers, which in turn leads to property price appreciation. We have not seen an increase in jobs in California.

Additionally, Bruce Norris also mentioned what is probably the main reason why we haven’t seen any real price stability or appre-ciation yet in our housing mar-kets, and it is in accord with what

Tara Cook stated regarding the fact that there is a significantly big shadow inventory of foreclo-sures. Norris stated at the July meeting of the San Jose Chapter of the SJREI Association that REO inventory levels indicated in the MLS are “phony” and what is seen as a reasonable six-months of unsold inventory should, in reality be considered four times that number.

Why haven’t bay area housing prices gone up or stabilized? It is really a function of generally hard economic times all around. Banks are not making loans like they used to, and potential buyers find it dif-ficult to qualify for a mortgage. Yet, the main issue is the real and seri-ous problem of having significant numbers of foreclosed properties in the pipeline, but not yet actu-ally on the MLS. Until real and true inventory levels are revealed and can be shaken out and sold, then we should not expect to see hous-ing prices increase anytime in the near future.

Contact stuart Baeriswyl at

408-373-6766

[email protected]

WhAT’S UP (OR DOWN)WITh REAL ESTATE PRICES

As an investor himself, Stuart

Baeriswyl of CSR Real Estate Services, makes good use of his

understand-ing of the

various markets in Northern

California to help other

investors locate and purchase cash-flowing rental prop-

erties. Mr. Baeriswyl offers

professional services for

investors and home owners, conventional

and private money loans, and business

broker services.

▲

residential property

inventory and median

sales price for the greater

san Jose, Ca area. Five

years of quarterly data.

Source: MLSListings Inc.,

Sunnyvale, CA.


As the Executive Director and Co-Founder of the SJREI Association, let Stuart Baeriswyl be your all-purpose Real Estate Broker.

Stuart BaeriswylREAL ESTATE BROKERDRE#: 01807909

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» Full Service Real Estate Broker for the Investor as well as home owner

» Residential and Commercial

» Conventional and Private Money Loans

» Business Broker Services

Going Beyond Real Estateyour number #1 source for all your real estate needs

For more information on the show call 408-892-3376

email: [email protected]://goingbeyondrealestate.com/

Every Sunday at 10am on KDOW 1220 AM


by Aaron Norris

In the last few issues we’ve covered lots of great business information about Facebook: how to use it, how to protect your privacy, and

the growing importance of showing up on the social network scene. Now that you’re on track and ready to take full ad-vantage of Facebook, welcome Google+ to the scene.

While this might be just what the doctor ordered for those suffering from Facebook fatigue, the ramifications of this new network could be quite excit-ing as the battle heats up between two Internet giants.

THe Players

First, it’s important to understand the landscape and what I refer to as the Battle of the Social Titans. If you’re not in the marketing field you may not real-

ize there’s been an amazing struggle for years between Google and Facebook.

Like most consumers, you probably start many searches for information on a search engine like Google. Google is so strong in the search category that if I “googled” something, most would understand I’m doing a search online at Google. As far as branding is concerned, it doesn’t get any better.

Facebook, on the other hand, is where you’re connecting with friends you haven’t seen since high school, spying on old crushes, deleting Grand-ma’s ALL CAPS nags, and building a network for your business. Facebook is about collaboration and engage-ment. It is the most visited site on the web and people spent extraordinary amounts of time on the site. Why the rivalry with Facebook?

Bing came onto the battle field in 2009 as Microsoft’s serious attempt to

compete with Google. Within a year, it was being praised for

not only taking traffic away from Google but also delivering great search results. It also hasn’t wasted time picking sides in the battle, and in October of 2010, Fa-cebook and Bing teamed up to launch a social search partnership that allowed each to utilize data and search results from the other.

On the other team, until very re-cently, were Google and Twitter. The two had a deal where Twitter status updates were included in Google Re-altime Search results. While Google recently reported it doesn’t rule out further collaboration, it appears they are now focusing more on Google+ and wooing weary Facebookers with the promise of something more tech-nologically advanced -- and perhaps with less Farmville (one can hope).

At the core of the war is the battle for

your dedication and trust in their net-work. They both will continue to deliver increasingly relevant search results and targeted ads -- as well as an improved user experience -- in exchange for the ability to draw from your personal de-tails, preferences, and network.

soCial searCH

If you’re in front of a computer, log in to Facebook and then switch over to Bing in the browser of your choice. Do a search in Bing for “real estate.” At the top of my search results is Realtor.com and all my friends who have “liked” that website. Bing is trying to not only deliver what it thinks is relevant but what my friends like. Welcome to social search.

The semantic web, Web 3.0, and ar-tificial intelligence are terms that get thrown around when the future of the web is discussed. At the core of each is the idea of relevance. When Google delivers 12 million results on a search, all but a handful of results are helpful and truly relevant.

Google knows full well we rarely go beyond the first page of results.

With Bing infusing social data from our Facebook network, searches be-come richer and hopefully more rele-vant. If you’ve developed a true network of friends and like-minded and trusted colleagues, Bing is hoping their algo-rithms and your network’s preferences will help deliver exactly what you’re looking for. Why would you ever need Google? Hence the need for Google to come on strong with Google+.

Business TakeaWays

show up – You don’t even have to build a website these days to have an online presence.

Having a business page on Face-book is absolutely free. At least do yourself a favor and tie up your brand name online. There’s nothing more frustrating than showing up too late

FEATURE

The Battle of the Social Titans


Aaron Norris is Vice President of the Norris Group where he is respon-sible for business development and production of TNG’s award winning radio show, events, and educational seminars. Mr. Norris is also principal at Palisoul, Norris, + Conroy, a marketing and strategy team based in Southern California and hosts the marketing and business podcast, The Cocktail Party Statement.

branding. social media. logos. websites.SusanHareMarketing.com408-391-8068Susan@SusanHareMarketing.com

How are you spreading the word about your business? Old-school yellow page ads no longer draw the business you need to grow, yet cost thousands of dollars a year. A social media campaign costs a fraction of that amount and pays huge dividends. At Susan Hare Marketing we evaluate your business, understand your goals, and then update your marketing methods and message. We engage social media. Develop websites. Write compelling copy. Design logos, brochures, and presentations. And we ensure that all of your marketing activities build on each other. When you’re ready to paint the town with your message, call us.

and finding your identity has been hijacked.

Build relevant, strong networks – Size may not matter when it comes to social networks.

While search engines currently might consider quantity, eventually they’ll turn their focus to quality in both con-tent and network. Search is going away from the mantra “content is king” to “relevance is king.” Creating strong networks and outstanding content will help you in the long run.

Pay attention to online ads – While on Facebook or doing a search on Google, take a little extra time to re-view the results and ads that come up.

What catches your eye? Why do you click on the ads that you do? Do you trust natural search items more when friends like them?

Do you trust paid ads? Taking a little more time to monitor your own behav-ior might give you insights into your potential audience online. If you haven’t considered online advertising, both Facebook and Google Adwords have extensive free learning materials about advertising on their sites.

A wise professor once told me that the best thing that ever happened to Coke was Pepsi. Competition forces innovation, efficiencies, and progress. We the consumers are the beneficia-

ries of this competition. The battle raging between Google and Facebook will be fascinating to watch and will absolutely change the face of social networking and advertising. We won’t know if Google+ is a Facebook killer right away, but giants have fallen be-fore. (Remember MySpace?)

As the skirmish carries on, continue to focus on your core business, show up strategically on social sites, and put your business in the path of adoring fans online.

Contact aaron norris at

951-780-5856

[email protected]

The Battle of the Social Titans


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ACCOUNTING

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richard smith & Associatesrichard smith 408-446-5551

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BROkERAGE/AGENTS

Csr real estate servicestuart baeriswyl 408-373-6766

[email protected]

www.customerservicereality.

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FINANCIAL ADvISORS

bay Area Plannersdavid beck408-725-7135

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brighton financial groupvernon Williams408-931-6582

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REAL ESTATE INvESTmENTS

memphisinvest.comChris Clothier877-773-9998

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stonecrest investments llCsteve freeman408-557-0700

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summit Assets grouplori greymont888-298-0652

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Contact Meghan [email protected]

INvESTOR RESOURCES


by Geraldine Barry

Given the rocky road that investors have had to navigate for the past several years, their priorities

have changed. This issue of REI Voice provides some insights into what investors want, namely security, and the lessons they learned from the

current crisis. Learning is key: it not how you fall, it is how you recover from a set-back that predicts your future success. With that in mind, here are the top five tips I learned from investors who have been in

the trenches and are re-designing their strategies to mine the current market opportunities.

1THE NOTE BUSINESS (where you are essentially the bank) is a way to cre-ate passive, dependable income. lisa Moran Bromma shares how the property secures the note, creates income, and involves no landlord headaches.

2CHRIS CLOTHIER’S LONG TERM STRATEGy is a wealth-builder. he recom-mends building a portfolio for cash flow—appreciation is never guaranteed so this plan makes great sense no matter your long-term strategy.

3.RE-BALANCING yOUR PORTFOLIO and making appropriate changes based on what the market is telling you is critical. Jay henrichs learned that lesson and explains that hoping things self-correct, or relying on a turn-around, is not a strategy.

4 UNDERSTANDING THE DyNAMICS of the location where we invest empow-ers good decisions. Charles fischer illustrates the power of knowledge in his per-spective on the Orlando market.

5REAL ESTATE INVESTORS CAN POSITIVELy IMPACT MARKET RECOV-ERy…if we are allowed. tom Wilson makes the case that lending polices need to change in order for investors to do what they do best—turn vacant or at-risk prop-erties into tax-generating, constructive influences on a community.

Geraldine Barry is founder and president of SJREI Association, the premier educational and networking association for real estate investors in Silicon Valley. Under Geraldine’s leadership SJREI has grown from a half-dozen investors to an award winning vibrant three chapter organization with over 400 investors attending monthly meetings. She has interviewed many real estate pros such as Bruce Norris, John Schaub, and Jon Freeman all of whom have been guests of SJREI. In addition to leading SJREI, Geraldine is an active real estate investor, guest host of the radio program, “Going Beyond Real Estate,” a frequent guest on the nationally broad-casted NTDTV, Publisher of REI Voice Magazine, and producer of the acclaimed annual SF Bay Expo. Geraldine is also a principal in Miles Barry Contract Furniture.

Ger’s Top 5


At Brighton Financial our goal is to provide you with the best service and most suitable fi nancial and insurance products to satisfy your needs. We don’t “sell” anything.

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rei voice magazine aug-sept 2011

Documents

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