South Jersey Real Estate Investors Association

Mar 10, 2018 SJREIA Dirty House Bus Tour -- Philadelphia area
Visited several Philly homes to evaluate investment potential and profitability. Great educational and fun event.

Feb 25, 2018 NationalREIA Winter Cruise

Chris Rydbom blog -- DAY 1

Currently sitting down waiting to load up and head to the ship, having coffee, and interesting conversations about real estate, current affairs, and economics. You never know who you will meet, what you will learn, or what will happen on the cruise..... come join us next year!

1) I know that some of us work way too much, working our typical job and building our investment business. 

2) Investing is not an "Island"

  • This is a great opportunity to meet and network with other investors from around the country. 
  • Learning from others of best practices or even what not to do- this one could save you thousands or even ending up in the negative "red" at the end of your deal
  • You never know who you will meet and maybe do a deal together.

3) There will be workshops each day at sea. There is/should not be any selling on these cruises. There have been serious hitters from successful REIA leaders here and I'll update you over the next few blogs...stay tuned for who you are missing...!

4) Now we just went through the biggest tax changes since President Reagan, so please confirm with your tax professional. If you are learning and networking for your Real Estate business, this could be a tax right off. 

Feb 27, 2018 NationalREIA Winter Cruise
Chris Rydbom blog -- DAY 2

Today woke up early and went to the deck to watch the sun rise. It was bright and beautiful. I’m feeling calm, relaxed with a clear mind – ready to start the day!

At our first morning session we discussed “What is your exit strategy?”

What are you going to do with all your Real Estate Investments when you cannot work the business or may pass on? Are the heirs to your empire going to understand how to run your business or are they going to sell the empire you worked very hard to amass? Discussion today covered self-directed Roth IRA, Self-Directed HSA, 401K, Inherited SDIRA, trust, notes for cash flow and more. Do you have a plan? Events such as this NREIA cruise and local REIA’s such as SJREIA cover these topics and much more to help you safeguard and grow your Real Estate Investing business.

In the afternoon session, we discussed “What is your present day strategy?”

Delegate! You cannot do all the work yourself. What are the best practices and best use of your time?  Time is money…don’t waste it.

Are your deals structured to best suit your needs? Who are your team members (Accountant, Attorney, Contractors, etc.) and how good are they?

We also discussed Investing with your Self-Directed IRA

Here’s my “take” from today…. After you’ve built a great team and grown your business, don’t forget to put in place a solid exit strategy too.

Final comment -- there was a Magician on board who said something very powerful. On our headstones will be two dates 1964-20??. Those two dates do not matter, the dash in between is what matters. How are you going to spend that time? Time is something we never get back, so use it wisely!

Feb 28, 2018 NationalREIA Winter Cruise
Chris Rydbom blog -- DAY 3

With sessions scheduled for evening hours, we spent the day in in the port of Georgetown Grand Cayman. Today we get to relax our minds.  

We met up with our tour guide to go to a turtle farm. Not only did we learn about the magnificent sea turtle, we were allowed to hold 2 month old turtles, and then some of us were able to swim with the turtles. From there we went to the town of Hell. For those who have not been to Grand Cayman, Yes the Town of Hell is real. It was a quick stay before having to head back towards the pier. We made it back onboard, took a quick rest and enjoyed a delicious dinner.

Refreshed and rejuvenated – we’re back for more learning!

There were 2 breakout sessions. One on Landlording and the other on lead generation where we tested software for this.

Feb 28, 2018 NationalREIA Winter Cruise
Chris Rydbom blog -- DAY 4

Pulled into port in Cozumel - went into shopping district, people very nice, it was great to see the horizon of Cozumel from the 12th deck of the ship. After returning to the ship,  relaxed in hot tub --  relaxed and clear minded -- ready for today's workshops!

Workshop topic:  Wrap around Mortgages 

Speaker bought from an estate $50k for 15 yrs @ 5%. Mortgage Payment $450.00

Sold it for $62k for 360 payments @ 10%  Mortgage payment $550. 00

This is one deal on how a wrap-around mortgage was used. There were many others, I could not type fast enough!

Q/A Meetings  - This speaker was talking about his first deal -- bought his house for $4500 for $45.00 a month for 20yrs. A comment was made that does make sense. He said he did not remember what the interest was, but also said it did not matter. The payments were low enough, as long as it still CASHFLOWS it does not matter the interest rate. 

Asset protection.  This was the million dollar class, this can be the most vulnerable area for real estate investors -- you could lose everything. One person was sued, the person suing said their attorney instructed them to sue everyone. Are you PROTECTED???

  • Workshop on running multiple businesses 
  • How to be licensed and make multiple streams of income 
  • How to cross systems so you do not need to over work.
    Books to read "Rocket Fuel" & "E-Myth Revisted"
  • With jobs being short term in today's market, what are you doing to protect yourself from a loss of job?
  • How can you employ people to help do the things you do not like doing or are not top dollar activities for you. 
  • What is the multiplier for a employee/paid help. This needs to be considered. 

In summary – great education and the enjoyment of exotic destinations – all yours to experience on a NREIA Winter Cruise!

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South Jersey Real Estate Investors Association

PO Box 689
Marlton, NJ 08053
(856) 663-1133

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