SJREI | San Jose Real Estate Investors Association

March 2, 2010

Geraldine Barry — Tue, 02 Mar 2010 17:49:46 +0000

Two more banks failed yesterday – bringing the total to 22 this year so far. It is not surprising that we investors cannot access money through traditional channels anymore. Since the demise of Enron, and the spotlight on the lack of diversification in retirement accounts for individuals there, restrictions have been lifted with 401K investment plans. Employees, in many cases, even if they are still working at the company, can gain access to their own funds and roll them over to a self-directed IRA. What if you could purchase a house by doing just this, and diversify in a market that currently has values last seen in the 1990’s?

I assisted one of our members in developing a plan to roll over $1,000,000 to set up a private money business – he now earns $10,000 a month loaning that money out at 10%. I am not saying this is easy or does not require work, but banks are not allowing investors to borrow right now, and so investors are turning to one another for financing. What I like about this is if structured correctly, and I emphasize this, the person lending the funds should be in first position, and the loan should be a maximum of 70% of the value of the property thereby creating a very safe investment vehicle to build wealth. It is a win/win situation for both parties. Come hear Eric Wickstrom address this strategy and more at our SJREI meetings this week. Please don’t miss this opportunity to hear information that is rarely addressed in these specific terms.

Foreclosure Update

Geraldine Barry — Thu, 18 Feb 2010 19:02:22 +0000

This is a great report from Foreclosure Radar that I would love to share with you all, be sure to check it out!

http://feeds.feedburner.com/ForeclosureTruth/Sean

Lots going on at our meetings behind the scenes…

Geraldine Barry — Wed, 10 Feb 2010 20:24:29 +0000

We had a very informative meeting last week. I wanted to share with you what went on behind the scenes at our well attended meeting that evening.

One person got a job through our connections
Another got an interview
Yet another did a private money loan for an investor for $270K on a deal that makes sense with lots of equity
Another investor who is currently doing a rehab and got a quote for $5300 to replace the sewer line. We stepped in with our connection and got the job done for $2,100!

Our community is active and vibrant. There are several reasons to attend our meetings and become a member – these are just a few. Our SJREI community is vibrant and growing - we can all help each other through this recession by reaching out and helping others.

Bruce Norris Update

Geraldine Barry — Mon, 08 Feb 2010 23:42:55 +0000

Later this month in Southern California, Bruce Norris of The Norris Group, will be presenting a one time only seminar entitled. Tip of the Iceberg. For those of you (who like me!) are having a difficult time completely understanding our current real estate market, then I strongly recommend this event to you. Bruce is an exceptional investor, educator and businessman who has been making it his goal to decipher the actual issues and provide investors with ammunition to effectively navigate the market. The seminar is being held on February 27th, in Costa Mesa, California. Even if you cannot attend – click on the link above to hear a very different perspective than you will hear in the regular media! Enjoy.

Buying Subject to the Existing Financing

Geraldine Barry — Fri, 05 Feb 2010 21:33:03 +0000

We had a great turn out last night for the meeting, and the topic of creative financing is very timely. Buying subject to the existing financing is difficult to explain but Lori Greymont did a great job with that. She kindly gave us permission to download her presentation for those of you who would like a copy, but unfortunately it is too large. If you email us directly we will send it out individually.

Email: sjrei.meghan@gmail.com to request your copy.

Check out New Release SJREI Journal Issue III!

sjrei — Thu, 04 Feb 2010 23:53:37 +0000

SJREI Journal Vol III

What’s going on with SJREI members?

sjrei — Sat, 23 Jan 2010 00:06:20 +0000

Despite the incredible rain on Tuesday evening we managed to fill the room at our Mid-Peninsula chapter meeting. I interviewed several real estate investors one-on-one regarding what they are doing to be effective in today’s market. Some of those I interviewed work full time, still others run full time businesses in addition to investing. They all shared their level of commitment; in terms of time and energy – what it takes to invest successfully. Also, they reaffirmed what we have discussed at the SJREI many times – if you have a W2 job or another source of income, keep it. Another source of income adds security to one’s life; having money coming in plus health benefits. Networking is required according to everyone I interviewed. Another kernel of knowledge dispensed included the significance of focus. So, find your niche. You cannot be an expert in multiple areas, and as Nike says “Just Do It!”

On that vein, consider attending our JumpStart program on Saturday, February 6th if you need assistance in developing your network and your plan. This program is set up college style – eight 50 minute segments, followed by a 10 minute break. The speakers are top caliber, and included is a lunch so we can chat and connect. Register this weekend to take advantage of the Early-bird discount.

New year plan – go for it!

Geraldine Barry — Sat, 16 Jan 2010 22:24:48 +0000

As you are planning your goals for 2010 – the Mid-Peninsula chapter meeting on Tuesday is one that you do not want to miss – it will give you lots of ideas and get those creative juices flowing. We will feature five investors who will share their stories on how they are working the current market. This is not a team of polished public speakers, just real people who are working the market effectively and profitably. Two participants work full time, another is a are full-time investor – one buys houses at the court house steps, and another runs his own company and does flips on the side, yet another invests in trust deeds. Come hear what they do, and how they do it. In my experience, these kinds of meeting are always very well received with great insights shared. In addition, I will outline a 2010 game plan that is worth considering, as well as providing a market update – this will be a information-packed meeting.

We had so much feedback about the REO Packages discussed at our South Bay chapter meeting that I will share five tips for REO package investing – what you need to know!

It is January and you also may want to consider an annual membership - click on this link for details on the SJREI annual membership program. We are constantly adding new benefits – at the SJREI meeting in February we are providing a library of real estate books that members can borrow free of charge to take home and read. Our mission is to educate and inform – this benefit helps us to accomplishes that.

Bruce Norris Newsletter

sjrei — Sun, 10 Jan 2010 19:47:55 +0000

I have enclosed a copy of the Norris Newsletter - this is a great read. Bruce reviews 2009, and give his thoughts on the market and how this cycle is evolving. I wrote an article also, as did several others, giving a well rounded view of the California market. Enjoy!

Short Sale Presentation

sjrei — Fri, 20 Nov 2009 17:07:34 +0000

Jason Lee, President of SVREO, and his bank negotiator, Pearl Zavertnik, who shared her “behind the scenes” gave us a great presentation at what is happening with short sales and how to work on them. Please click on the links below for their presentation and enjoy!