When viewing the property, take notes regarding all the things that need to be repaired or improved, taking pictures is also a good idea. You find the bargains and pass them along to the contractors and carpenters who earn money fixing up houses to sell. The first of these is to take over the debt load of homeowners. Appreciation gives you the full value of the property, not just what you have invested in that property. Some think it might even be the easiest way to become a millionaire! Income is realized when flipping a property, or you can create passive income with rental properties and your tenants will help to pay down your loan. Check with a real estate agent and determine how fast properties are selling in your particular area. It's possible to wholesale 3 or 4 houses every month. Just think of the income that could generate! You never own the property, but you can make anywhere from $10,000 up on each sale. This is a number that you determine yourself. The seller gets the price they want, the buyer gets the price they want, and you get the difference, which could be several hundred thousand dollars!
Saturday, May 17, 2008
Thursday, May 15, 2008
Doing an analysis of the real estate deal
. Doing an analysis of the deal is more efficient and it lets you know what your profit is going to be before you go into the deal. An analysis will show you what your maximum offer price for a property should be. Know what the asking price is for the real estate property. Determine what your after repair value will be for the property. This is the value of the property after you have made all repairs and improvements. After you determine your after repair value you then need to deduct all of the expenses that are going to be associated with acquiring that real estate property. These expenses are Acquisition Costs like lender fees, discount points, appraisal fees, mortgage broker fees, title insurance, attorney fees, process fees, recording fees, etc; Holding Costs like costs to hold the property until it sells; Repairs or Improvements, Selling Costs that will include the real estate agents commission or advertising costs if you are going to sell it yourself, and Closing Costs that will include closing fees and document preparation. You can learn how to take on these real estate deals when you pick up my free real estate investing course.
Tuesday, May 13, 2008
Making money on high end houses
Another way of making money with real estate is to option high end houses. You do not have to guarantee a note in order to do this. Leverage gives you the ability to have ownership of a large asset without using a large portion of your money. Depreciation allows you to lessen the value of the property and use this amount as a business expense for tax purposes. If you are honest when putting the numbers together, they will never lie to you. This can be done without risk by developing a subject to deal. This means that you find a house that has a lot of equity already in it, such as a million dollar house with three or four hundred thousand in equity. You option this for one price and through the use of killer sales strategies, you sell it for much more. You don't have to borrow any money yourself. Furthermore, there has never been a better time than the present for making money on these high end houses.
Sunday, May 11, 2008
Investing in real estate is always a good income
Many people are under a huge load of debt and will transfer their ownership to you along with the equity they have in the house, simply to be relieved of the burden of the debt. Now due to circumstances beyond their control, things have been thrown out of whack and they need someone to get everything reorganized for them. These homes are beautiful and well maintained as a rule. They at one time had the cash to pay for their mortgage and the expenses associated with it. Solve their problem and you'll get a good deal. Another way to get into real estate investing with very little money risked is to wholesale houses that need rehab. These low end properties that are in very poor condition can be a veritable gold mine. Investing in real estate is always a good income stream strategy no matter what the market is doing. The key is being smart about your investments.
Friday, May 9, 2008
Making money in the real estate market
It's no secret that there is a mountain of money to be made in the real estate market. Hundreds of thousands of people across the country are making money without risking money or credit. Contrary to popular belief, however, you don't have to have a lot of money to start with. If the property you are eyeing has government outlets like the post office, the automobile insurance board or the government-sponsored health centres, these buildings qualify as hot property. Long leases will ensure that a property will be rented or leased for long periods of time, not just a year. Some commercial leases for example go for as long as 5 or 10 years. Your only expenses are some marketing materials and about $100 for an option deposit.. If you're wholesaling, Ten Bucks will suffice.
Wednesday, May 7, 2008
Depending on the location, most details are available online
1. Divorce , 2. Imprisonment or Court Costs, 3. Loss of Job – Foreclosures, 4. Bankruptcy, 5. Death
6. Job Transfer, 7. Bad Tenants (Contact Landlords who have filed evictions). Most of the above types of people can be found by looking through the public information in your local court-house records. Depending on the location you prefer, most of these details are available online. Situations such as Loss Of Job can be found by looking through the foreclosures and knocking on such person’s door. You need to focus your attention on people with these types of situations.
Sunday, May 4, 2008
Real estate investment and barriers
As a real estate investor there are some barriers which keep you from being successful. You want to be a Real Estate Investing Millionaire, but for some reason you can't seem to find good deals on houses. This is a natural enough reaction from people who are asked to take a risk with their investments on a daily, almost, basis. Going around with a Realtor, driving around nice neighborhoods, looking for