The Secret to Saving Money on Rehabs Last week I purchased a pair of jeans for $100.00.I’m not kidding.Perhaps this is part of your daily shopping routine, but for a guy raised on Wal-mart and Goodwill, spending $100 for a single pair of jeans was disconcerting to say the least. I’ve been casually looking for a pair of jeans that would actually fit me for some time now (I wear a 36 length, which is nearly impossible to buy without special ordering) and finally stumbled upon the perfect … [Read more...]
Can You Really Flip Houses With No Money?
September 8, 2012 By Leave a Comment
Can You Really Flip Houses With No Money? To many, it seems like there’s no way you can get started flipping houses without at least a little money of your own.True, whether it’s buy and hold real estate investing, flipping houses or any other kind of real estate investing, it is a lot easier to do it with money than without…no doubt.However, flipping houses with no money is not only possible to do, but it’s not as hard as you might think. In fact, there’s no “hidden secret” to … [Read more...]
Building Trust With Private Money Partners
August 1, 2012 By Leave a Comment
Building Trust With Private Money PartnersUnless you have loads of cash on hand, you’re probably interested in finding and securing private money partners. So in the spirit of this month’s topic on trust, let’s spend some time on building trust with private money partners. 1. Have a Portfolio Because you’re asking for a large sum of money, having a portfolio or resume can go a long way towards building confidence in you and your REI business. Your REI portfolio could include things … [Read more...]
How Super Mario Brothers Can Make You Rich
July 29, 2012 By Leave a Comment
How Super Mario Brothers Can Make You RichDo you remember Super Mario Bros? Yes, the original Nintendo NES game where Mario speeds through eight worlds (each with four sub-worlds) in an effort to save the princess from the evil king Bowser. This game was a huge part of my life growing up and I still play it to this day. It took me weeks to beat the game the first time.The more I played, the more shortcuts I learned and better I became (remember the unlimited life hack in level three or warping … [Read more...]
How to Raise Private Money Anytime, Anywhere. Even Over Chicken Wings!
July 28, 2012 By Leave a Comment
How to Raise Private Money Anytime, Anywhere. Even Over Chicken Wings!This isn’t any sort of ground-breaking new real estate principle, but always be ready to talk about your business and private money! I’ve read other articles on BiggerPockets talking about this same principle, and with a recent experience of mine, you can throw me into the category of “believer”.The point of this article is to offer encouragement that these sort of things “do” happen in the real world, and not just … [Read more...]
Foreclosure Victims Not Claiming Their Money?
May 25, 2012 By 2 Comments
In the wake of the greatest foreclosure avalanche in American history, federal banking regulators settled with 14 major mortgage servicers over alleged foreclosure abuses. Part of the settlement included the opportunity for foreclosure victims to have their foreclosures reviewed for errors. If any errors were discovered, restitution could run from several hundred dollars to more than $100,000. To alert foreclosure victims, official letters were mailed to 4.1 million former homeowners. … [Read more...]
Why does it feel like Goldman Sachs is Slurping our Homes?
May 11, 2012 By Leave a Comment
Why does it feel like Goldman Sachs is Slurping our HomesIS IT JUST ME or are institutional investors also raiding your city? Here I loosely define ‘institutional investors’ as ‘organized money’, something backed by a well oiled capital machinery. Because it sure don’t look like cash from under their pillow.My emotional progression about all of this (not in the least, random):Damn, those guys are smart.Since when did institutional money become this nimble?Aren’t they supposed to … [Read more...]
How Using A Database In Your Real Estate Business Makes You Money
May 7, 2012 By Leave a Comment
How Using A Database In Your Real Estate Business Makes You MoneyWe have been talking about direct mail campaigns in the last couple of articles. Today I am writing the first part of a two part article. We will be going over setting up your database so that it is user friendly.There are different systems that you can use as far as databases go, but the one that was recommended to me and the one is use is ACT by Sage. I have been using this particular database for quite a while now.It is not … [Read more...]
Raising Private Money – Debt or Equity Partners
May 6, 2012 By Leave a Comment
Raising Private Money – Debt or Equity PartnersWhen you are ready to start raising private money for your real estate deals, there are two different types of private money partners you can look for: debt partners and equity partners. Both can help you raise all the money you need to fund your real estate deals, but they work very differently. In this article we’re going to take a look at both debt and equity partners. We’ll explore how they are different and why you would use each to … [Read more...]
Successful Investing while Holding a Full Time Job – Key #5: Focusing on Leverage
April 23, 2012 By Leave a Comment
Successful Investing while Holding a Full Time Job – Key #5: Focusing on LeverageBy completing the previous Key to Successful Real Estate Investing while Working Full Time you should have a good understanding of what is “Core” to your business and what is “Context”. Remember “Context” should be outsourced to other team members and “Core” are items you complete.With this you now have some things to focus on and at the top of this list is Leverage.Leverage Time, Dollars and … [Read more...]
A Home Run with Hard Money?
April 13, 2012 By Leave a Comment
A Home Run with Hard Money?I had made up my mind. No more debt.No more credit cards. No more car payments. No more hard money loans. Sure, paying 18% was steep. But that wasn’t the real reason I decided to give up leveraging my fix and flip deals. Borrowing money had bankrupted me in 2007. The funny thing about creditors is they don’t give a damn if your real estate investment portfolio drops in value by 65% – they still want their monthly payment.Then the summer of 2009 rolled … [Read more...]
Researching a Market And Steps That Need To Be Taken
March 23, 2012 By Leave a Comment
Researching a Market And Steps That Need To Be TakenYou’ve heard the rumors – there is money to be made in that neighborhood or that commercial location. But is it really a good time to invest in that particular market? You won’t know until you do your homework.Researching a real estate market is hard. It’s probably the toughest job we have because there’s a lot of data and not a lot of resources on how to use it. Well, today that changes. In this crash course, I’m going to give you … [Read more...]
Why Investors Lose Money on a certain Percentage of all Auction Deals
March 21, 2012 By Leave a Comment
Nearly one out of every four properties purchased by investors at auction over the past four years has cost them money, not because they didn’t know what they were doing but because lenders overvalued them when setting minimum bid and reserve amounts, especially in markets with weaker demand and an older housing stock. As a result, investors in one market alone, Cleveland, have lost over $56 million since 2006. A new study by two economists at the Federal Reserve Bank of Cleveland, Thomas J. … [Read more...]
Looking For Private Money Investors
February 22, 2012 By Leave a Comment
Looking For Private Money InvestorsThis month, we’re talking about scripts and presentations on the Investor Insights because it’s Private Money month. I’m launching a new program called Getting the Money, which is designed to help you become private investor pro. Go check out my free training videos to get a feel for the program.Back to scripting. Scripting will not apply to all situations.You won’t want to read a script while you’re on the phone. It’s a tool of reference. You need … [Read more...]
Becoming a Private Money Presentation Pro
February 17, 2012 By Leave a Comment
Becoming a Private Money Presentation ProWe’re talking private money today on the Investor Insights. It’s a great way to fund your deals and works with a number of investment strategies. However, the secret to raising private money is all in how you present it. That’s why I’m going to be working with you over the next couple of weeks here on the blog to perfect your pitch and to help you become a private money presentation pro.So, where to start? It starts with building a killer … [Read more...]
Real Estate Values – How To Pull Accurate Real Estate Comparables
February 3, 2012 By Leave a Comment
Real Estate Values – How To Pull Accurate Real Estate ComparablesHaving Accurate Real Estate Comparables Will Save You Money. Here Are A Few Tips on How To Pull Accurate Real Estate Comps…Real Estate Values – How To Pull Accurate Real Estate Comparables is a post from: Real Estate Investing Blog For Real Estate InvestorsRead the full post here... … [Read more...]
How Do Syndicators Make Money?
January 25, 2012 By Leave a Comment
How Do Syndicators Make Money?The syndicator can be compensated at the end in two different ways: 1) by receiving a share of the profits when the property is sold; or 2) by receiving some of the refinancing proceeds.Let’s consider some examples:You purchase a well-located run-down house in foreclosure for $95,000. Using an investor’s money, you make a down payment [...] Read the full post here... … [Read more...]
The Four Money Buckets That Will Lead You to The Good Life
January 22, 2012 By Leave a Comment
The Four Money Buckets That Will Lead You to The Good LifeWhen I first started out in this business about 10 years ago, I had almost no money. I was desperate for deals and would do almost anything to get a deal. I would run all over the place, I would let seller’s “beat me down” on price and I didn’t have the confidence to stand up to people and get the money I deserved.Now things are a lot different. I don’t let anyone “beat me down,” I have confidence to get what I deserve, and … [Read more...]
The Use of Private Money
December 23, 2011 By Leave a Comment
The use of private money is nothing new. Many investors have used it in the past and have called it very different things. Hard Money, Private Loans, Family Loans, Partner Money, Investor Pools, Money Partners, Private Equity, heck even Loan Sharks (jokingly)- are all names and sources of private money that can be used for [...]Private Money – Use It To Fund Deals is a post from: Real Estate Investing Blog For Real Estate Investors.Read the full post here... … [Read more...]
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