|
|
|
Buying Foreclsoure In Auction - Great Fortune
Sure you know what's auction. But do you know by buying foreclosure in auction, you can actually earn up to 100,000USD; or save up to that amount if you are buying a foreclosure home for residential purpose? Of cause, those profits happen with the...
Home Equity – Foreclosure Often Not Necessary In Current Market
While driving around your community, you may have seen signs posted on telephone poles that offer “foreclosure help.” These seemingly generous offers to help financially troubled homeowners who are in danger of losing their homes to foreclosure are...
Indiana Real Estate – Racing, Amateur Sports And College Football
Indiana is the home to a proud tradition of racing with the Indianapolis Motor Speedway. Indiana real estate prices are very reasonable, particularly for first time homebuyers.
Indiana
Considered a crossroads state, Indiana is hub of activity...
Open Houses For FSBO Sellers
The first requirement in finding a buyer for a home is to make sure the pool of potential buyers know it is on the market. For FSBO sellers, holding an open house can help to get the word out to buyers.
Open Houses
Open houses are very...
Real Estate Investing And Goal Setting
What is the primary reason for success most people have that seems to elude unsuccessful people? Goal setting is the primary reason for success. Lack of proper planning is the number one reason for failure. Proper goal setting involves setting a...
|
|
| |
|
|
|
|
|
|
Real Estate Investing -- Starting Right Is The Key To Profits
You've heard of the potential payoff from real estate investing. The good news is, it's true! The bad news is, it won't happen for most people. Why? They have unrealistic expectations. Real estate investing isn't a "get rich quick" endeavor, although it sometimes happens. No real business is. So, prepare to make a serious time commitment. Would you expect to become extremely wealthy at anything in just a few months? Know that you'll have to keep learning, keep getting contracts, and keep putting time into it.
Still in? Great, you're a realist! Your first step is to choose an area to focus on. Do you want to purchase run-down properties and repair them to sell for profit (rehabilitate, or rehab them)? Do you want to buy properties and turn them quickly (flipping)? Maybe you want to buy properties, then lease them to potential buyers with an option for them to purchase them later, while you accumulate equity. There are pros and cons to each of these, depending on your financial position, your location, your available time, and other considerations. We'll be going over them all in future issues of the newsletter. You'll find the possibilities exciting.
Once you know what you're looking at draft your plan IN WRITING. People who do this get three times as much done in the same amount of time. Set long-term goals for 3, 5 and 10 years out for what you want your cash, equity, and cash flow to be. Then, you can work backwards from there to set 1-year, 6-month, and 3-month goals. Without this, you'll be driving without a map, taking or skipping deals without regard to how they fit into your big picture. Leaves lots of room for "Wish I'da's...." Don't do it! You can always adjust your plan as you go along.
Keep your day job for as long as possible. If and when it seems time to go, before you do, get some of those low- to no-interest credit cards that are out there. It could really ease some cash flow worries to be able to tap on a $10,000 line if you're doing a fixer-upper and run into an unforeseen problem with no additional bank draw in sight.
Get an attorney who knows and understands the creative options of real estate. Some banks just don't understand simultaneous closings, for
example; you'll want your lawyer to know how to smooth things so that there aren't any snags that cost you time and money. Some even have their own title companies. A good place to ask for a referral is to ask a mid- to large-sized developer. This is one place not to haggle about price; he or she will be worth their weight in gold when they can get your deals done and you know that you can sleep at night because it's been done quickly and right.
As soon as you decide to get into real estate investing, begin building your list of buyers. We'll be covering more on this later; but, when you meet them, learn as much as you can about the kinds of deals they do, how long it takes them to conclude a deal, and so on. Most people love to talk about how they became successful, if you ask respectfully and don't waste their time.
Warning, warning! Think very long and hard before taking on a partner. If you do, it should be somebody who brings something to the party that you don't have, and it should be for one deal only until you see how things go.
Which brings us to how to set up your company. You should set up a separate corporate entity for each deal. An LLC is cheap and easy to set up. Land trusts are even better, because your name isn't personally in the public records, inviting some chump to sue you. The idea is to keep your personal assets off the table if something goes wrong. Talk with your attorney about it; he has forms that can have you done in a few minutes.
Finally, if you've made your plan, you have to work it to get anywhere. If you're not out there making any offers, you're never going to close any deals. No deals closed, no profits. If you're not making any profits, you're not in business, you're dreaming. Set a number of deals you're going to bid on per week and per month, and then get out there. Make it happen!
About the Author: Lynn Stonebraker has been profiting from real estate since 1987. Get free weekly training in her newsletter, available at http//www.RealEstateInvestingInformation.com.
Source: www.isnare.com
|
|
|
|
|
| Real Estate, Property, Land and Homes for Sale, lease and rent ... |
| Comprehensive real estate and property listings. Includes information on buying and selling, tips on building, an auction timetable and other helpful ... |
| www.realestate.com.au |
|
| Real Estate | Homes for Sale | Houses for Sale | MLS Listings ... |
| RealEstate.com provides home listings , homes for sale , REALTORS , house listings , apartment locating services. We have Florida real estate , Texas ... |
| www.realestate.com |
|
| REALTOR.com: Real estate listings & homes for sale |
| Search for a new home or find mortgage rates, real estate agents, and relocation services throughout the US, Canada, and Puerto Rico. |
| www.realtor.com |
|
| Real Estate on Yahoo! Real Estate - Homes, Mortgage Rates, School ... |
| Yahoo! Real Estate is the most comprehensive place for real estate, housing market information, school reports, local mortgage rates and more! |
| realestate.yahoo.com |
|
| Find Your Home Value, House Values and Prices on Yahoo! Real Estate |
| Yahoo! Real Estate - Free instant home values and comparable home valuations for millions of houses. Check your home's price or any house value. |
| realestate.yahoo.com |
|
| Real Estate, Houses for Sale, Rentals, Commercial and Businesses ... |
| Real Estate, Houses for Sale, Rentals, Commercial and Businesses for sale at Realestate.co.nz. |
| www.realestate.co.nz |
|
| Real Estate - Buy, Sell or Rent a Home - New York Times |
| Online real estate listings for properties in New York and nationwide. |
| www.nytimes.com |
|
| Century 21 Real Estate Agents and Brokers |
| Agency with franchised offices throughout the United States, Canada, Europe, Latin America, the Middle East and Asia. Find local offices and agents, ... |
| century21.com |
|
| Zillow - Your Edge in Real Estate |
| Zillow provides a free Home Valuation Tool for Real Estate enthusiasts. Whether you're an agent, broker, buyer of investment property or first time ... |
| www.zillow.com |
|
| STLtoday - Homes |
| Real estate agent revels in the boom in downtown St. Louis living ... [more real estate news as seen in the St. Louis Post-Dispatch] ... |
| www.stltoday.com |
|
| Real estate - Boston.com |
| Boston Real Estate - Search the Boston Globe and Boston.com for Massachusetts Real Estate, Boston Condos, Land for sale, Vacation Rentals and more. |
| www.boston.com |
|
| ABCs of Real Estate |
| Real Estate ABCs consumer tips, hints, and resources for home buyers, sellers, and mortgage borrowers. |
| www.realestateabc.com |
|
| washingtonpost.com - Washington DC real estate, Maryland real ... |
| Washington, DC, Virginia and Maryland homes, real estate news and headlines. [Registration required] |
| www.washingtonpost.com |
|
| Coldwell Banker Real Estate Corporation |
| Real Estate from Coldwell Banker ®. Buying a home, selling a home, or finding a real estate agent is easy with Coldwell Banker. Find a home, sales associate ... |
| www.coldwellbanker.com |
|
| Detroit News Online | Real-Estate |
| Sellers around the state have been frustrated with the slow sales patterns of Michigan real estate over the past year or two. But buyers have been enjoying ... |
| www.detnews.com |
|
| Newsday.com - Long Island Real Estate for Nassau County and ... |
| In a real estate market increasingly defined by niches, ... Real Estate Resources. Search by school district for recent home sales in Nassau and Suffolk ... |
| www.newsday.com |
|
| Real Estate for Sale, Rent and Share @ Domain.com.au |
| Real Estate for Sale, Rent and Share @ Domain.com.au. Houses and apartments for sale or rent all over Australia. Thousands of properties in Sydney, ... |
| www.domain.com.au |
|
| Luxury real estate news and features - Forbes.com |
| Luxury real estate news and features at Forbes.com. Core topics include real estate, mansions, condos, co ops, oceanfront realty, second homes, ... |
| www.forbes.com |
|
| Real Estate News - Prices, Mortgages, and Calculators from CNNMoney |
| Latest on mortgages, refinancing, & home tips from CNNMoney.com. Calculators for refinancing, mortgage payments and more. |
| money.cnn.com |
|
| Los Angeles, California, national and world news, jobs, real ... |
| Los Angeles' leading online source for local, state, national, world, entertainment, and sports news. Plus jobs, real estate, cars and shopping information ... |
| www.latimes.com |
|
|