Real Estate Investing For Today and the Future
Real Estate Investing For Today and the Future
Wikipedia defines investing as the use of resources or assets to earn income or profit in the future. Many people shun investing, especially in real estate, because of the term “future.” While they understand the importance of saving for the coming years, what they need is profit today. But did you know that there are actually methods of real estate investing that will allow you to secure your future and at the same time make yourself financially stable today?
There are methods of real estate investing that are booming today. The good thing about them is that they give quick returns. You won’t have to wait for years to benefit from your investment. Two of them are known as rehabbing and wholesaling houses.
Wholesaling houses is known as the entry door to the world of real estate investing. This is where you will search for properties and put them under contract. Once under contract to buy them, you will then look for buyers who will close the deal for you. You earn by collecting as assignment fee, or the payment for assigning a contract to the end-buyer. An assignment fee of ,000 is common in the market today. And how long does a wholesaling deal last? With proper information, you can close a deal in just seven days. Veterans in the business can wholesale a property in 30 minutes – believe it or not. Imagine earning ,000 in just half an hour.
Because you don’t need to purchase properties but just put them under contract, you can start wholesaling houses without a huge capital. There’s also less risk. That is why this is recommended for those who want to venture in the real estate business.
Another form of real estate investing you might want to try today is rehabbing houses. This is buying cheap properties, improving them to raise their value, and then selling them for a profit. Rehabbing houses is flourishing because of the availability of cheap houses to rehab. You can find scores of affordable properties in your country today. You can tap wholesalers and use them to find properties for you. If you’re thinking that paying them a ,000 assignment fee is a waste of time, you’re missing the point of investing. It’s not how much you spend but how much you earn in the end.
With rehabbing houses, paychecks of ,000 are as common it gets. Some rehabbers earn the exact amount of investment. That means if you poured ,000 into a property, you can also get ,000 in return.
Still think real estate investing will only benefit you in the distant future? Visit REIwired.com to learn more about quick cash from real estate and be ready for a change of heart.
How To Get A Good Real Estate Flipping Course
How To Get A Good Real Estate Flipping Course
Are you interested in real estate flipping?
If so getting a good knowledge of this subject will help lay the foundations for a profitable career for you.
Do you want to get started, but have no clue on how to do so? If this sounds like you, you are not alone.
There are thousands of people from all over the world that want to get into real estate flipping. After all, there is a lot of money to be had in this industry.
If you learn how to take advantage of it you will be well on your way to financial success. But the problem is learning about real estate flipping, and how to get started. Whereas this used to be hard to do, in today’s day and age it is quite simple.
If you have access to the internet you can sign up for a flipping property course. These are available through a number of different services, and can really help you to get on track from the word go. You can find a flipping property course by simply searching online.
All you need to do is a simple internet search and you will have more results than you know what to do with.
So what will you learn from a flipping property course?
Generally speaking, with a flipping property course you will learn everything that you will need in order to be a success. In addition, the information will be presented to you in order so that you can follow along with ease. Your first lesson may be about the real estate flipping industry. From there, the next lesson could dive into how to choose properties. By the end of your flipping property course you will know exactly what you are doing, and how to get started.
When choosing a flipping property course be sure to consider who is offering it. Are you taking a flipping property course from a professional who has been successful? Or are you simply dealing with an amateur who is looking to make money by selling a flipping property course? This is very important because it is essential that you take a course that is taught by somebody with a lot of knowledge.
A flipping property course may be all you need in order to get started in this industry. It may take a bit of time to do so, but after you complete a flipping property course you will be well on your way to success. So instead of trying to learn about flipping real estate on your own, get the help of a successful professional. This will make things much easier on you from the very start.
For more real estate investment tips and to download a
free ebook that shows you how to claim free land and property
please visit:
http://www.freelandproperty.com
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What Newbies Need To Know When Wholesaling and Flipping Houses
What Newbies Need To Know When Wholesaling and Flipping Houses
When you became interested with real estate – about flipping and wholesaling houses – you thought that you could make it big. You thought that you had to start somewhere and it\’s going to be tough but eventually you will be able to pull it through anyway. However, even with the fervor of optimism, you got stuck and confused how to move on with your real estate prospects. Yes, you know the general idea of how to wholesale and flip houses. Unfortunately, you really do not have any idea about the things that you should know to get your house flipping and house wholesaling career rolling.
Here are the must-know list in wholesaling and flipping houses that you should put in mind:
? The playing field
? Determine whether you are in a bust or lean period. Buying a house in the bust period when the prices are high is not a good move because this means you will be paying way too much for a house. On the other hand, buying in a lean period, though your financial status may also be lean, would equate to higher profits because houses at these times would be much cheaper. So be sensitive with how the real estate market is fairing and hit the right button at the right time.
? Also, you should know how houses are priced in your area. Of course, your house does not have a replica somewhere being sold. However, looking for houses that are similar with yours would give you a fair idea of how much your kind of houses are priced. This will also give you an idea about the competition, so you will be able to know how you are fairing with others, thus you will be able to adjust with what you are missing and exploit your advantages.
? What you need to spend on
? You should be able to estimate all the money that you will spending – from taxes to secondary costs – monthly fees, repairs, notary, escrow fee, title insurance. Remember, in real estate the spending does not end after you bought the house. In fact, you are just getting started. So make sure that all the expenses that you will be having should be included in the plan. Failure to do so would most likely result to a losing deal.
? Know different types of mortgages
? Knowing the different types of mortgages (which, by the way, could come in different forms and sizes) would help you determine how you are going to plan your flipping or wholesaling. Just make sure that with whatever mortgage you are having it will compliment the selling strategy you intent to use.
? House repairs
? Houses that need more repairs would naturally cost lower. So, if you are willing to spend on repairs, then you buy a house that falls under this category. However, what you need to put into mind is that all you repair expenses should convert to profit. Meaning, whatever add-ons you include in the house or whatever fixing you do, it should add to the profit that you expect to get.
? Dealing directly
? Especially if you already know what you are doing and you have marketing confidence, doing the deal yourself would save you from spending on commissions for people who did the deal for you. If you are still starting, you can ask an agent to do the dealing for you. However, make sure that you learn how the agents does it so that in the future you can do the dealing yourself and not spend on front men anymore.
? Negotiate price
? When you buy a house, do not hesitate to ask for discounts. Always start your offer at the lowest reasonable price that you could give. Do not make your offer to low because if will offend your seller nor too high because your deal will be a failure even before it started. Research, again, plays a big role in making an offer and closing a deal when buying houses. So make sure you do your homework before you start price dropping.
Related House Wholesaling Articles
Real Estate Negotiations: Four Must-Know Phrases To Save Yourself Tens of Thousands of Dollars
Real Estate Negotiations: Four Must-Know Phrases To Save Yourself Tens of Thousands of Dollars
One of the most important skills you must master if you want to be successful in real estate investing is negotiating. This skill is useful in a variety of contexts within the real estate arena – dealing with sellers, dealing with buyers, dealing with closing agents, dealing with lenders, etc. – but the focus of this article will be on negotiating with homeowners. For our purposes, we shall assume these are private sellers rather than corporations or banks.
The key point I want to stress here is that timely use of select words and phrases can make you thousands of dollars. From my experience, I have found the most effective, and ethical, use of negotiating with sellers occurs right up front, the first time you discuss price. I’m going to present you with some phrases that have helped me seriously pad my bank account over the years.
Rule #1 – he who names the first number loses. You always want to try to get the seller to tell you how much he wants for the property before you ever present him with an offer. Think about it: if a seller is willing to take ,000 for a property, and you come in and offer him ,000, you’ve just cost yourself at least an easy ,000, and probably more.
Not all sellers will divulge their asking price to you upfront. One of the ways to counteract this is to ask the seller what he thinks the property is worth, given its existing condition.
Once you have a number from the seller, you can go to work to negotiate that number lower. A favorite phrase of mine is, “If I paid you all cash and closed quick, what’s the least you’d take?” Most sellers understand the power of cash and why it’s preferable to an offer from a buyer that needs to get a loan to buy their property.
Another particularly effective phrase you can use is, “Is that the best you can do?” Make sure to ALWAYS ask this question. Frequently, a seller will lower their asking price in response to this question.
Finally, you can use this phrase in a final attempt to get a lower number from the seller: “So you’re saying that if I can’t pay you $x (whatever their most recent asking price is), we can’t do business?” You’ll be amazed how far downward many sellers will come from their original asking price when you ask them a series of questions like this.
So, to recap, here is a little script I recommend you use the next time you’re talking to a seller about purchasing their property:
“What are you willing to sell the property for, given its existing condition?”
“If I paid you all cash and closed *quick, what’s the least you would take?”
“Is that the best you can do?”
“So, you’re saying that if I can’t pay you $x (their most recent number), we can’t do business?”
Of course, just because we’ve gotten the seller to seriously discount their property from the original asking price doesn’t mean we’re finished. When we do put together an offer, it will probably be for less than what they’re asking for, but this sequence of questions is designed to make the seller more comfortable with selling their property at a steep discount. If the seller is responding to your questions, in their mind, it is now their idea to sell the property for less. This makes your job much easier than if you had just gotten one asking price from the seller and subsequently submitted a lowball offer, which pales in comparison.
*yes, I know that ‘quickly’ is grammatically correct, but we’re not concerned with grammar so much as we are in relating to the seller
Real Estate Negotiation Tips
Real Estate Negotiation Tips
The real estate is a booming industry, and it is very easy to win the real estate game, provided you know the rules. As an investor, you should be able to master the art of negotiation, which is the most crucial aspect of real estate investments. Listed below are some of the most important and practical negotiation tips that can help you when buying a real estate investment property.
Negotiation Tips for Buyers
Is the seller genuinely interested- Find out if the seller is genuinely interested in selling the property. It will be a total waste of time if you are dealing with someone who is just not keen on selling. Many investors hang on for a while, waiting for the seller to change his mind, only because they liked the property. However, if the seller is not particularly eager to sell it to you at the first shot, then there is very little chance that the deal may materialize later. To know if the seller is genuinely interested, try calling him for an appointment. If he is reluctant to see you, then the answer is obvious.
Inspect the property carefully: Before making your offer, you must inspect the property carefully. Do not allow the seller to influence your decision in any way. Many sellers insist on making an offer immediately after the inspection. Ideally, you can inspect the property, and then fix up an appointment with the seller for the following day.
Dont stick to a single offer: When negotiating a real estate deal, be prepared with more than one offer. You can prepare three offers; however make sure that every offer promises a profitable deal.
If you feel that a particular deal is not going to materialize, and the seller is not pleased with your offer, and then firmly inform the seller that you cannot negotiate any further. This gives a clear indication to the seller that this is his last chance, if he is genuinely interested in closing the deal.
And, here are some negotiating tips for sellers:
Do you really wish to sell your property: Before deciding to sell your property do some market research to find out if the time is right. Often, sellers sell their properties at a low price to meet some sudden expenses. However, see if you can work out other options to manage your expenses, and save your house as a last resort.
Decide on a reasonable price: You may expect an exceedingly high price for your house. But the truth is that current market trends, and demand for properties in a particular area, greatly influence property prices. The best way of determining your property value is to conduct a research of similar properties in your area. Real estate agents in your area can also help you to determine a reasonable price for your real estate property. Deciding on an appropriate price for your property will help you to find genuine customers. Unreasonably high prices of properties can chase away prospective investors.
Obtain legal help: It is important to draw an agreement with the help of a skilled lawyer. Read all the clauses in the agreement carefully before signing it.
If you are not happy with the offer, or if you feel that the terms and conditions offered by the buyer are unreasonable, simply call off the deal. Most sellers prefer to work in association with a good real estate agent to benefit from a hassle-free deal.
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A great introduction by Robert Kiyosaki about how important is to build and develop sales skills. Scape of the rat race now! Robert Kiyosaki the famous Richdad author reveal the secrets of the rich….
When You Go To Work For Your Money, Does It Return The Favor?
Its interesting that day in day out, people go to there 9-5, and slave away to get a check that ends up going all to bills. Its a repetitive thing same thing every day 40 hrs a week, 5 sometimes 6 days a week. This is known as the Rat Race. Its like a forever circle that you find yourself in, and it seems like you will probably die before your able to escape this never ending maze aka your J.O.B. I can never forget the days I was stuck at my $12hr job. I hated it!
I felt like I was dying, because I was truly not living, and not enjoying life to the fullest. Now one thing I would always think about is how could I take the money I’m making and let it make money for me? You know like some kind of investment or something. Because I knew that would be the only sure way to be able to quit my job, and work for myself as an entrepreneur. I needed to create a Passive income, so that way money is coming in even when I’m not working.
Thats when I became a Real Estate Investor, as well as Internet Marketer on the side. I quit my job of 3 years, and now I’m making money, and my money makes me Money as well. Its funny I was playing Robert Kiyosaki’s game called Cashflow. In playing this game I realized how hard it really it is, and how you canget stuck in the 9-5 Life forever.
If your still working a 9-5 job ask yourself this, “When I Go To Work For My Money, Does The Money Go To Work For ME? ” If the answer is no, you need to change that. If your depending on the government, and 401k and social security to save you when you retire. Your in bad luck! The nation is in debt way to high, by the time you retire there won’t be any money left to pay you. So I advise you to start up a business, or investing, and create some type of passive income.
What will YOU do to make your money work for you? Leave a comment below….
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