South Jersey Real Estate Investors Association

 You won’t want to miss the kickoff of our virtual event, Speed Learning for 2021. As you get ready to dive into a full day of learning and networking, Steve Lloyd will be greeting you with a motivational message: Living For Your Dreams.

Steve Lloyd is a real estate investor, serial entrepreneur, and motivational speaker. Lloyd is a self-proclaimed, “master of putting a stop to limited beliefs.”  His YouTube Channel, Steve Lloyd: My Best Life, offers regular inspiration for real estate investors and entrepreneurs. 

In his latest video, where Steve shares his decision to move to Siesta Key in the wake of Covid, he offers valuable insight about overcoming fears and creating a life that brings you unlimited joy. 

Steve’s insight is invaluable and a great way
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Real Estate Investing tips from Tarl Yarber

The following information is sourced and summarized from a SJREIA webinar by Tarl Yarber on 9/2/2020. For the full conversation, visit the resources tab at www.SJREIA.org.

Whether you’re just starting out in real estate investing or you’re looking to expand your current portfolio, having systems in place is one of the most critical components to a thriving business. Mistakes are part of any learning curve, real estate investing included. Tarl Yarber offers his insight and experience on how to learn from mistakes, create systems, and ultimately thrive in the real estate investment world.

Learn From Your Mistakes

“Crap will always happen in this business.” Take the time to be self-analytical, self introspective, and take responsibility for your problems. Everything is your fault. Every decision you make for your business is up to you. You hire the contractors, choose the properties, select the design, and so on. When you accept that everything is up to you, you then have the power to change what is happening. From structural mistakes to contractor mistakes, it is the real estate investor’s responsibility to take ownership of the good, the bad, and the ugly.

Book recommendation: Extreme Ownersh
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Last week we discussed a situation in which an investor partners with the seller on the project, which is one way to have the seller help “finance” the deal. In this blog, I’m going to explain what I call “Traditional” seller-financing because it’s the more common way to structure seller-financing deals.

 Traditional seller-financing is any situation where the investor actually buys the house and takes ownership through a closing. Then, in some way, the seller is helping to finance that purchase. I break traditional seller-financing into 3 sub-categories. Note: These descriptions are how I speak about them. Other investors may use different terminology. I separate them because, structurally, they are different.

The important point to distinguish traditional seller-financing from the others is that the buyer will actually own the property! And, anytime a mortgage is staying in place, there will be due on sale clause risks.

• True Seller-Financing: This is a deal in which the seller owns the property outright with no mortgage. In this situation, the seller simply becomes a bank and “carries” a note and deed (mortgage) by exchanging his equity for the promissory note. The money doesn’t change hands as it’s all on paper. The seller earns some extra money on the interest. The investor gets a better rate than other lenders. All y
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