A New Era in Real Estate Investing

This is the beginning of a new era for real estate investing and consulting. I am very excited about the future of this business and want to share my knowledge. This article will tell you a little bit about my background as a real estate investor, and will provide information about how my company, Acquired Asset Solutions, Inc., can help you to prosper.

I came to this business in late 2003 after my longtime friend Dr. J.L. Hutchinson Jr. contacted me to tell me about his success in real estate investment. He was interested in sharing his knowledge with me and in telling me all about his business, Tricomm Worldwide. I agreed to visit his office to see how Tricomm worked, and after a couple of hours of him showing me real estate deal after real estate deal, I realized I was in the wrong business.

At the time, I worked in legal investigation. I had been in the field for the past nine years. The work was very time-consuming, and I was looking for a change. When Mr. Hutchinson explained how real estate investing can provide passive income, I was very intrigued! After mulling over the pros and cons of switching careers for a while, I finally made the decision and called Mr. Hutchinson to tell him that I wanted to learn more. He initially offered me an entry-level position in the Research and Development (R & D) department finding real estate opportunities.

This was a huge step for me, since I had no background in real estate. But to my surprise, I picked this new career up fairly quickly. In my first week at Tricomm, I was trained in spotting great real estate deals. I was also taught how to find real estate bargains and creative ways to find motivated sellers and learned the basics of calculating appreciation, cap rates and returns on investments.

I did my first three real estate transactions for $1 a property, securing three single-family homes in Cleveland, Ohio from a seller tired of getting violations from the city for high grass. When I saw photos of the properties, I was surprised by their good condition and saw the potential for either flipping or holding the properties. I ended up flipping the properties fairly quickly.

In this first deal, I also dealt with a bird dog (a type of beginner investor). This meant there were two beginners on my first transaction, but with Dr. Hutchinson’s help, we were successful. After six months, I was promoted to R&D coordinator and began developing deals found by the researchers in my department. I specialized in securing seller-financed opportunities.

In 2005, I was promoted to Real Estate consultant and became partner and vice president of the firm. After directly coaching more than fifty full-time real estate investors and participating in over 3,000 transactions, I left the company in 2007 to begin a new firm. This new company, Secured REO Services (SRS) was dedicated to Property Preservation and Asset Protection for default servicing companies and banks.

After much success and some failure with SRS, I decided to return to Real Estate Investment and began consulting real estate investors full time. This started with acquiring REO’s for SRS and developed into my consultancy and intermediary company, Acquired Asset Solutions, Inc.

At its core, Acquired helps investors around the country by offering consulting for both new and seasoned real estate investors wanting to create or expand their portfolios. The most direct way we do this is through our own Research and Development department, which specializes in finding real estate opportunities that most investors cannot find on their own. Our consulting services are another vital aid to investors. We have trained and experienced Real Estate Investment Consultants, or REIC’s, that guide and support investors through each deal and offer in-person and online training to their clients.

Many investors in the consulting program are looking to become full-time real estate investors and build their real estate holdings by creating real estate investment companies. We have six and twelve-month programs dedicated to helping investors achieve their goals.

For real estate investors with larger amounts of liquid assets, we have many real estate opportunities available that are below wholesale prices. Many investors also seek our assistance in acting as a seller’s intermediary-putting them in direct contact with traders and asset managers at banks divesting of REO packages. We have developed relationships with many banks-at last count, we were working with fifty compilers!

One of the first things that I advise new investors to do is to research the business to find out about such things as: the best markets, where to get hard money, real estate lending, and the real estate networks available on the worldwide web. New investors should also research companies like ours that can assist in researching and securing properties.

For the first time in years, investors have a chance to acquire long-term holds or short-term flips and make a lot of money doing so. In 2008, we were able to acquire eight properties with $6,000. Now for the same amount of money, I can secure properties at 18-20 cents on the dollar in the Midwest. Here in California, desirable properties are available at between 60-70 cents on the dollar-an outstanding bargain! We can facilitate these transactions for those seeking bulk REO packages.

Some companies claim to facilitate bulk REO packages by promoting unrealistic numbers such as 40-50 cents on the dollar-a figure that is pure fantasy! While it is possible that in the future, these prices may be real, today these companies are just wasting people’s time chasing bulk REO tapes that do not exist.

It is possible get involved at any level in the real estate business. We are very excited about where we are headed as an investment company and the opportunities out there for all real estate investors.

For those of us fortunate enough to be in this business or even those of us buying for the first time, prosperity is a realistic goal. I wrote this article not only to tell people about our company, but to wake up those people sleeping through this historic time and to push investors that are hanging on to their cash while hoping the market will collapse further. If you are short on cash, you can still buy…maybe not a bulk REO tape, but certainly a wholesale deal. These properties will require repair, but can be fixed up with a little money, flipped or kept as a long-term hold.

Please listen to our radio show, REI Reality check, to get facts and insight regarding this business. You will learn a lot from this realistic and simplified way of buying-you do not want to miss this show! Check it out at www.acqas.com/ATMblog. Also, visit our website for consulting services or real estate deals at: www.acqas.com.

About the Author

Akiba Miniefee is a San Diego based Real Estate Investment Consultant.

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