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...]
What’s In Your Real Estate Purchase Contract?
September 25, 2012 By Leave a Comment
What’s In Your Real Estate Purchase Contract? How wordy do you need to be when purchasing a property? Some purchase offer contracts can run into the dozens of pages. I find the opposite works better for me. I currently use simple and concise contract language that fits on about one page when I wish to make an offer on a property. This contract language has evolved over the years and I use it for several reasons.It keeps things simple.Keeping it simple sometimes makes the deal.I can … [Read more...]
Is Buying a Foreclosure a Good Idea?
September 20, 2012 By Leave a Comment
Is buying a foreclosure a good idea? Maybe. Are you looking to buy a home to live in or are you an investor? If you're goal is to occupy the property as your primary residence, buying a foreclosure may be right for you. You can get more bang for your buck by purchasing a home that needs a little TLC. But if you are a real estate investor, buying a foreclosure may not be a good idea at all. Here are four important steps to follow when buying a foreclosure to live in as your home: Hire a … [Read more...]
Having Trouble Finding Real Estate Deals? Re-visit the Basics!
September 19, 2012 By Leave a Comment
Having Trouble Finding Real Estate Deals? Re-visit the Basics! I’ve been a little frustrated lately when reading online forums by some of the questions and responses being posted. The one that has frustrated me the most has been “Where are all the deals?”.To be very clear, this is a different question than “How do I find houses” or “How do I get started”. Those two questions are asked everyday by new investors trying to figure out the lay of the land and are looking for … [Read more...]
5 Steps to Negotiating Real Estate
September 14, 2012 By Leave a Comment
Have you been negotiating real estate all wrong? Studies have shown that only 40% of signed real estate agreements end with a successful closing. Why so few? Many buyers and sellers are conducting their real estate negotiations all wrong. Many assume that in a real estate negotiation, if you get the best of the other party and the deal is heavily one sided to your direction, that you have won. That may work with other businesses, but in real estate, the opposite is true. If a deal is too … [Read more...]
Friday Asia Digest – Asians Buying Up NYC & London | Taiwan’s Time in the Sun
September 7, 2012 By Leave a Comment
Friday Asia Digest – Asians Buying Up NYC & London | Taiwan’s Time in the Sun An unexpected source for economic recovery hopes in New-York City and London (pictured on right) has emerged this week, as reports of a rapid increase in Asian ownership of properties in prime locations around the two metropolises are published in various media outlets.Investors from mainland China and Hong Kong have been bidding like crazy on top-notch properties around London, including but not limited to … [Read more...]
Upside of a Down Market
September 3, 2012 By Leave a Comment
Upside of a Down Market The real estate market experienced such a prolonged downturn that it created a number of new opportunities for those who stopped wallowing in misery and got on with their business. Few areas were hit as hard as Las Vegas yet many investors and realtors are thriving. So many real estate agents left the business that it reduced competition among those who remained. It also allowed the truly skilled to standout. Some whined about the lost commissions of yesterday while … [Read more...]
Real Estate Pros: It Is Time For “Business As Unusual”
August 21, 2012 By Leave a Comment
Real Estate Pros: It Is Time For “Business As Unusual” I love talking real estate! I usually get the opportunity to meet and talk to new and even experienced investors once or twice a month at different events around the country. These are always educational style events for investment groups and the room is usually full of questions about my families businesses. By far, the biggest question we get is about how we have continued to grow when it seems like so many are having … [Read more...]
Pursuing Real Estate Investing Freedom? Consider Getting a Real Estate License!
August 17, 2012 By Leave a Comment
Pursuing Real Estate Investing Freedom? Consider Getting a Real Estate License! One of the most highly talked about and debated questions within the world of real estate investing is ‘should’ or ‘should you not’ get licensed in your state? There are numerous articles on BiggerPockets discussing pros and cons and everything in between, but I wanted to throw my $.02 into the debate.There are a ton of financial reasons to pursue the license, but in this article, I’m going to focus on … [Read more...]
An Escrow Agent’s Value to a Real Estate Professional
August 11, 2012 By Leave a Comment
An Escrow Agent’s Value to a Real Estate Professional Real Estate Agent and Real Estate Investor: If you are closing deals, this blog is a must read!An Escrow Agent or Escrow Officer works at a title company and handles the documents and monies to close a real estate transaction. Working with a solid Escrow Agent can save you thousands of dollars and hundreds of headaches over time!I am going to let 3 true stories explain why a Title or Escrow Agent is one of the biggest assets an … [Read more...]
Building Trust With Buyers
July 30, 2012 By Leave a Comment
Building Trust With BuyersWhether you’re selling a residential or commercial property, building trust with buyers will go a long way towards closing the deal. So here are three tips to keep in mind: 1. Be Specific and Offer ProofIt’s easy to throw around words and phrases like:Great neighborhood Move-in condition SpaciousBut if you want these words to have some weight, have facts and proof to back them up. For example if the house you’re flipping is in a great neighborhood, have crime, … [Read more...]
Use This One Technique to Ensure Yourself a Good Note Investment
July 22, 2012 By Leave a Comment
Use This One Technique to Ensure Yourself a Good Note InvestmentTwo of the most common questions I get from prospective note investors is how do I find notes in the first place, and when I find them, how do I know it’s a good note? Finding a note can be just like finding a good property. You can go the traditional route of direct mail, talking to brokers or placing ads or you can use this one technique to create the best note possible for yourself. All you will need is an active real estate … [Read more...]
The Choice: Making Money Wholesaling vs Getting Your Real Estate License
July 10, 2012 By Leave a Comment
The Choice: Making Money Wholesaling vs Getting Your Real Estate LicenseThe conversation can get quite “lively” when you put Realtors in a room with a group of real estate investors, especially if those Realtors aren’t investors themselves. And, this is just exactly what happened to me on the 4th of July. Inevitably we end up discussing folks that get their real estate license and the “other group of people” that work in the business as real estate investors.I went to a celebration on … [Read more...]
Real Estate in Japan – Cashflow, Honesty & Honor
June 30, 2012 By Leave a Comment
Real Estate in Japan – Cashflow, Honesty & HonorI’ve been intimately involved with Japan, its business environment, culture and etiquette for the past decade or so. I’ve lived there, on and off, for up to a year at a time. I speak the language partially (just a bit, to be honest, and a highly “domesticated” bit at that), and have, in recent years, even had some limited success at reading and writing it (I learn alongside my 3 year old son – he’s doing far better).I work for a … [Read more...]
An Investor’s View On Mastering Your Inspections
June 16, 2012 By Leave a Comment
An Investor’s View On Mastering Your InspectionsFrom real estate agents to banks, to flippers to buy and holders, to wholesalers to buyers and sellers (forgive me if I forgot you), inspections almost always have their place in the course of a real estate deal.I want to take a moment and view home inspections from a flipper’s point of view. My investment company currently holds mostly a short term exit strategy on our residential buying opportunities. In short, we are looking to get the … [Read more...]
Why Realtors Don’t Like Real Estate Investors
June 14, 2012 By Leave a Comment
Why Realtors Don’t Like Real Estate InvestorsThe meeting took place at a popular local burger hangout near the campus of Arizona State University. Fresh out of a foreclosure boot camp I took in Denver the month before, I scheduled an appointment with a highly motivated Realtor looking for new business.After the typical pleasantries were exchanged I cut right to the chase. I told this agent I needed someone that could help me find great deals on the multiple listing service. Furthermore, I … [Read more...]
Top Turnaround Towns: Tomorrow’s Hot Real Estate Markets
May 20, 2012 By Leave a Comment
Top Turnaround Towns: Tomorrow’s Hot Real Estate MarketsWant to know where home prices will be rising in the coming months? No longer do you need to toss darts at a dart board or guess. Someone has actually created an index using the very, very freshest listing data combined with economic metrics to scientifically select tomorrow’s hot markets.Every quarter Move, Inc. operator of Realtor.com, publishes the Top Turnaround Towns (There used to be ten’ we just expanded to 25). As a member of … [Read more...]
Increase Your Rehabbing Profits by Watching TV, Really!
May 19, 2012 By Leave a Comment
Increase Your Rehabbing Profits by Watching TV, Really!You are probably reading this blog to find out just how ridiculous it’s going to be. If you are a rehabber, real estate agent, home stager, or involved in marketing real estate in any way, you might want to read on!When my family began real estate investing, we were completely dependent upon a Realtor that we hired to find us good deals. Do you know what that meant?MINISCULE PROFITS!We found out very quickly that finding a house to fix … [Read more...]
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Realtor Ads as a Gauge of Your Local Real Estate Market
Realtor Ads as a Gauge of Your Local Real Estate Market Investors are constantly bombarded with statistics. Housing starts are up in the United States, housing starts are down in a particular city. Resale inventory is high, retail inventory is low, short-sales are up, short-sales are down. Don’t get me started on the “shadow inventory” that’s been poised to flood the market for years now. It’s very easy to get caught up in all these statistics. Unfortunately the numbers can be … [Read more...]