There is a hidden secret to flipping houses that only the most experienced real estate investors know anything about. You're about to discover what most people will never know about flipping houses. I never read about this in a book. I never saw it on a house flipping tv show. This game changing lesson was revealed to me through the real world of real estate. It started out as a hunch after flipping houses myself and then it became more clear to me after coaching and mentoring investors from all … [Read more...]
Creative Real Estate vs Traditional Investing
December 13, 2012 By 23 Comments
Is creative real estate right for you or should you go the traditional route? You'll discover the differences, the pros and the cons of both approaches and which one is right for you. First let's take a look at what each one looks like: With traditional real estate, an investor... Buys investment properties on the MLS. Finds deals by calling up a real estate agent. Buys foreclosures that are listed on the MLS. Buys foreclosures at the foreclosure auction sale. Buys properties … [Read more...]
Why Invest In Real Estate?
December 13, 2012 By Leave a Comment
Why Invest In Real Estate? “It’s tangible, it’s solid, it’s beautiful. It’s artistic, from my standpoint, and I just love real estate.” -Donald Trump Let me ask you a very simple, yet profound question: Why invest in real estate? Understanding the answer or answers to this question will help you along your investment career. The following are a few common answers I have received when I ask the question: Why People Invest in Real Estate Freedom: Frankly, this is why I … [Read more...]
8 Traits of Successful Real Estate Investors
October 7, 2012 By Leave a Comment
8 Traits of Successful Real Estate Investors Take a few minutes to think about the successful people around you, not only financially, but also those who embody personal success. Consider the characteristics each of them possess and how these characteristics have fueled their achievements in their given field. Over the past several years I have come in contact with quite a few real estate investors, both directly and indirectly, and have recognized many I consider to be very successful. These … [Read more...]
Reality TV Real Estate Flipping: How ‘Real’ is It?
October 6, 2012 By Leave a Comment
Reality TV Real Estate Flipping: How ‘Real’ is It? Hi. My name is Clay and I’m a reality TV addict.Survivor, Shark Tank, The Amazing Race, Big Brother, and the list goes on…At the top of my list though are the reality shows about real estate, in particular, flipping. I am a sucker for them, and if I’m honest, they were a big reason why I decided to get into real estate in the first place. I mean don’t you see the massive amounts of profits real estate investors make in 30 – 60 … [Read more...]
There Are No Short Cuts In The Real Estate Investing Industry
October 5, 2012 By Leave a Comment
As a real estate entrepreneur, this is a story that I feel needs to be shared. It hits very close to home and includes some of my early missteps in building our brand. Ultimately, it is about sharing with the rest of the real estate world that in business, as in life, there are no short cuts. If we allow ourselves to get seduced by the lure of short cuts and the peddlers of promises like “I can help you” for a fee, well, I‘ll share the information and let you see how that ends.What … [Read more...]
Private Lending: Pros and Cons
October 3, 2012 By Leave a Comment
Private Lending: Pros and Cons One of my investors called me up today and told me he had decided he was ready to get into the lending business. He had already purchased a number of properties over the last year or so and was ready to diversify his real estate investing strategy. Part of his decision making process had to do with the tedious financing process he had experienced when buying a property a few months prior, but I think most of the decision had to do with a desire to branch out … [Read more...]
The Five Financial Benefits of Real Estate Investments
October 1, 2012 By Leave a Comment
The Five Financial Benefits of Real Estate Investments Financial advisors will tell you that there are five ways that you can earn a return on any investment. In no particular order, these are:Cash Flow or Rate of ReturnFederal Tax BenefitsLeverage of OPM (Other People’s Money)Principal PaydownAppreciation.One of the wonderful things about real estate is that you can get all five! Real estate is the only investment that I know of that potentially gives you all of these advantages!Think … [Read more...]
8 Stupid Mistakes That Can Kill Your Real Estate Investing Business
September 30, 2012 By Leave a Comment
8 Stupid Mistakes That Can Kill Your Real Estate Investing Business When you were a baby, you made tons of mistakes.You learned to walk on your own by walking, falling, getting up, walking again, falling…You hit your head, you cried, and you learned to be more careful… but, what would have happened if you one day decided to give up walking entirely?You said: “This walking thing is just too tough for me, y’know I keep hitting my head, bumping my butt, its just waaaay too hard. I think … [Read more...]
Why Real Estate Returns Are Higher than Stocks, Bonds and Mutual Funds
September 29, 2012 By Leave a Comment
Why Real Estate Returns Are Higher than Stocks, Bonds and Mutual Funds Investing in rental property is like eating a hot fudge sundae. Buying stocks, bonds and mutual funds is like eating hot fudge with the occasional spoonful of ice cream.With real estate rentals, your returns include:1. Cash Flow from Monthly Rental Income – A Huge Scoop of Your Favorite Ice Cream 2. Buying Money – A Second Scoop 3. Tax Free Refinancing – A Third Scoop 4. Appreciation – Hot Fudge on Top 5. Write … [Read more...]
WARNING – Real Estate Investors: Do NOT Buy this Book!
September 28, 2012 By Leave a Comment
IWARNING – Real Estate Investors: Do NOT Buy this Book! n my previous article I talked about a book that I felt was well worth the investment of money (to buy) and time (to read). I must say, it was a great decision on my part to purchase that book. It was definitely the most efficient use of my money and time. Tired of me patting myself on the back? I’m tired of it too. Time for some humble pie…It’s easy to talk about our great decisions, but I believe the most can be learned from … [Read more...]
How to Make Money in Real Estate
September 27, 2012 By Leave a Comment
Discovering how to make money in real estate can be a daunting experience. Real estate is a vast subject matter and millions of people earn a living (and some actually become fabulously wealthy) from real estate. After being a part of more than 1,000 real estate transactions over the past decade personally, along with coaching and training thousands of investors from all walks of life throughout the United States and Canada, I've heard, seen and done enough in real estate to simplify for you how … [Read more...]
The Power of Appreciation and Leverage: Boost Your Real Estate Returns
September 26, 2012 By Leave a Comment
The Power of Appreciation and Leverage: Boost Your Real Estate Returns If you’ve read any of my blogs on BiggerPockets, http://www.biggerpockets.com, you’ve probably noticed that I am a believer in real estate appreciation. Yes, real estate can and has lost value in recent years; but over time, real estate generally increases in value. This is especially true if you happen to time the market effectively. I have not been shy about the fact that I believe now is a very good time to buy … [Read more...]
Real Estate Investing for the Next 10 Years: If It Were Easy, Everyone Would Do It!
September 24, 2012 By Leave a Comment
Real Estate Investing for the Next 10 Years: If It Were Easy, Everyone Would Do It! Real Estate seems so simple; all you do is buy low and sell high, right?Wrong!!!Well, what about buy and hold investing or land lording? That’s simple, right? All you do is buy a property and sit on it for 10 years or so and magic happens, no?Wrong!!!Okay, but setting up a long term financial plan and retiring from your day job has to be easy, because all you do is buy one additional property a year for … [Read more...]
Cash Reserves For The Long Term Real Estate Investor — Things Change
September 18, 2012 By Leave a Comment
Cash Reserves For The Long Term Real Estate Investor — Things Change As happens often in conversations with ongoing clients, I bring up the subject of cash reserves. It usually surfaces naturally when they make known their desire to explore the acquisition of more investment property. Since we all live in the universe of reality, we understand the status quo is but a measurement of the here and now. Assuming your financial status has remained static the last 1-5 years is a mistake we simply … [Read more...]
The Six Pillars of Real Estate Investing Success
September 16, 2012 By Leave a Comment
The Six Pillars of Real Estate Investing Success I’ve been thinking a lot about ”success” recently.Not only about success in real estate investing, but also success and just plain happiness in general.No doubt, there’s been a ton written about “the steps to success” in real estate investing. Reading what’s here on BiggerPockets is a tremendous way to learning so many of the skills needed to achieve success in real estate.There’s been a lot less written about the mindset or … [Read more...]
A Great Real Estate Attitude… thanks to Disney!
September 14, 2012 By Leave a Comment
A Great Real Estate Attitude… thanks to Disney! There’s nothing like pulling inspiration from a childhood Disney movie. You would think that these sorts of movies are only good for keeping your kids occupied; however, The Mighty Ducks (1992) has one quote in particular that I believe is a “must-have” if you plan on being successful in real estate:“It’s not worth winning if you can’t win big!”Still gets me fired up even after all these years!Let me take the words right out of … [Read more...]
Choosing from the Real Estate Smorgasbord
September 13, 2012 By Leave a Comment
Choosing from the Real Estate Smorgasbord Real estate is like a smorgasbord! You can pick and choose the foods you’ll eat, keep returning for more helpings, and learn what areas you like and which areas you love. Like food, once this information is digested by your brain you will then make an educated business decision to continue practicing this method or leave it for later or never.As a real estate investor and mentor I speak with sellers, buyers, and other investors who know exactly what … [Read more...]
What’s That Underperforming Property REALLY Costing You?
September 12, 2012 By Leave a Comment
What’s That Underperforming Property REALLY Costing You? I was out of town last week and had an opportunity to meet a number of different investors on my trip. One conversation in particular stuck with me because I believe the scenario is common to a lot of people. Many investors that are in the market today for investment properties were the same ones that were buying properties either during the real estate frenzy of the mid-2000’s or on the front end of the recession (before prices had … [Read more...]
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Why Investors Were the Real Heroes of 2011
Why Investors Were the Real Heroes of 2011 A single survey, even if conducted to meet the highest professional standards of opinion research, can only include a limited number of questions, and thus, it can address a finite number of issues.That was the case with the Joint BiggerPockets.com/Memphis Invest survey released last week. I had the pleasure to participate in its design and execution, and we focused to three vital issue investors face: their purchasing plans for the near future … [Read more...]