Presidents Message

As of this writing, the Jaguars are 2-0 and Florida hasn’t been hit by any hurricanes. Let’s knock on wood and be thankful for our blessings.
Well how is the real estate market faring? I continue to read articles about the softening real estate market nationwide. Homebuilders are reporting a drop in construction permits and there continues to be a back up in the existing home market. On a positive note, 30-year fixed rate mortgages were recently averaging 6.4%, the lowest rate in the last six months.

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Rookie’s Corner
    by Cliff Barteaux

People ask me all the time at the meetings, “How do I get started?” That’s a good question, but it’s hard to answer without asking a whole bunch of other questions.

For instance: What are your goals? How much time do you want to put into real estate investing? Are you looking to make a new career or just want to supplement your current income? Do you have any business experience? What is your background? What are your business goals? Do you have a family, and if so, have you talked to them about what you want to do? Are they supportive and are they interested in helping you in the business? Do you have a budget? How much money do you have to obtain and continue your education? Do you have a timeframe in mind? Do you know the different areas of real estate investing and do you think you’ll feel comfortable in talking to people involved in that area whether a buyer or seller?...

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I Need A Hard Money Loan...Or Do I?
    by Steve Duce

Psst...do you know of a good hard money lender I can use? Hey, does anyone have a hard money lender in my area? It's rare that a day goes by when a question of obtaining hard money to fund real estate deals doesn't come up. For those unaware, hard money is a loan given to purchase a property and is figured off of an after-repair-value appraisal (ARV). It's usually at a high interest rate with many fees tied to it. It can be a great tool to buy houses but do you really need it in order to get that deal?

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President’s Message
How much money will I Make If I do This?
Rookies Corner
I need a Hard Money Loan...Or do I?
Personal Property Trust
The Wrong Way to Invest In Real Estate

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"Real estate fever" . . . its hit the Country like a plague. Zillions of "newbie’s" are hitting the bandwagon, trying to make a profit where they lost in the stock market. I meet them all the time, and many are making big mistakes!

Mistake #1: Stock Market Mentality

You'd think after losing $7 trillion in the stock market people would have learned! Nope, they are making the same mistake, which is assuming what happened yesterday will happen tomorrow. Nine of ten new investors I meet say they are interested in real estate because they saw someone else make money from the rapid appreciation of the market over the last few years. But, buying real estate solely for short-term appreciation is often a big gamble! If you buy real estate to hold for 15 years or more, the chances are you will come out on top. If you buy a property and flip it in within a year, you probably are fine, too. And, despite the risk, many people can intelligently time the "boom" of a local market (or subdivision within a market) and make a profit. But, if you buy a rental property for full market price with break even or negative cash flow, you'd better have a backup plan if the market doesn't keep going up. Investing is a lot like surfing... if you don't know how to ride the wave, you will drown!

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More articles can be found in this month’s issue

JaxREIA is Moving

Starting in October, JaxREIA will be meeting at a new location:

Bethelite Conference Center, 5865 Arlington Expressway

Visit www.JaxREIA.org for a map
We are excited by this change, as it will provide us a consistent and convenient meeting place for our Main Meetings and Saturday Seminars. We hope to see you all there!