Real Estate Genius Investment Software Blog

By Clay Davis

It is easy to say that you want a home investment that needs fixing up, but it can be a challenge to find one in just the right location. A home that needs a little TLC is an excellent way to buy a one for less than market value and that you can later resell for a higher price. And if you know where to look, there are some great deals to be found.

Besides having a little bit of good fortune, you also need to be smart about how you search for your fixer upper. You first want to check around neighborhoods that you are really interested in. Many homes do not advertise themselves as fixer uppers, so you need to start by evaluating many different houses in your price range to determine if they are possibly bigger and better than what you think they may be. This can be done by scanning the neighborhood for “for sale” signs or by contacting a local real estate agent who might know of a fixer upper for sale.

You can also check the classified ads of your local paper. Look for a home that shows signs of requiring work, although some will be listed as fixer uppers. Anything that says it needs a little TLC or is a “diamond in the rough” should be regarded as fixer uppers. If it is in your price range, take a closer look to see in what condition it actually is.

Another means of finding a home that you can fix up and later resell is to search for foreclosure homes. This can be done through the Internet or a foreclosure auction web site that alerts you to foreclosures in your area. These homes are usually in some sort of disrepair and need work. They also sell for considerably less than market value, so you know you can get a good deal on them if you are willing to put in the time and effort.

There are actually many web sites that list only fixer uppers, so it is a good idea to do some research on your own. You can search through these listings to locate a home that you not only can afford to buy, but also afford to repair. It may sound like a challenge - and it is - but if you know where to look and what to look for, then it is an investment that can really pay off over time.

For practical home selling and buying information, please visit http://www.homes-sell-buy.com, a popular site providing valuable insights about great home locations and home related information that will be of value in your search for the perfect home community.

Article Source: http://EzineArticles.com/?expert=Clay_Davis
http://EzineArticles.com/?Where-to-Find-Fixer-Upper-Homes&id=810959

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By Joseph McKellen

As a real estate investor, just about everything you do involves some negotiation. No matter how big or small the investment, you will have to negotiate to get the deal you want. In fact, it’s virtually impossible to be a successful investor unless you can negotiate competently in many different situations. Fortunately, it’s a skill anyone can become better at with practice.

Negotiation, not battle

Some investors go into negotiations with a confrontational attitude, aiming to squeeze every last penny and every single concession from the other person involved. You can summarize their approach as “I win, you lose.” The problem with this attitude is that real estate investing is all about relationships and reputation.

If you treat other people as obstacles in the way of your profits, then you will alienate individuals who could help you down the road. If you look at investing as a battle, you’ll destroy relationships that could be valuable to you. And you will certainly get a reputation as a nasty person to deal with.

Your long-term success as an investor depends on building strong relationships and earning a trustworthy reputation. Everyone prefers to work with someone they respect and like. Whether you’re dealing with a lender, a real estate agent, a buyer, or a seller, you want that person to feel good about working with you.

Here are some principles to follow every time you sit down to negotiate with someone.

Decide what you want and write it down

Set your objectives for the real estate deal - and make them reasonable. This includes deciding on your top (or bottom) price and any terms you want, such as your preferred closing date, repairs that must be made, financing conditions, etc. Keep those objectives firmly in mind when you’re talking to the other party.

At the same time, decide which terms you are prepared to compromise on, and which terms you absolutely must have. For example, you may be somewhat flexible on price if you get the financing arrangement you want.

Work towards an “I win - you win” deal

In a successful negotiation, both sides leave with something they wanted or needed. The key point is that what you want and what your opponent wants are probably different things. Figure out what the other person needs to get from the deal in order to be satisfied with it. Use your problem-solving skills to come up with an arrangement that suits both parties, where both parties can feel they got what they needed.

Be prepared to walk away

When you’re negotiating a real estate deal, remember that you are free to walk away at any time. This freedom gives you more power in a negotiation. Leave your emotions out of the process and don’t get too attached to a piece of real estate. Know that if you don’t acquire this particular investment property, another great investment will come along. It always does.

If the negotiations aren’t producing the results you want, you can stop the discussions. And this applies even if you’ve been negotiating for a while. End the discussion in a pleasant way - no need to be antagonistic. Express that you’d like to do business, but the deal on the table is simply unworkable for you. Always leave open the possibility of future negotiations if the other person comes up with a fresh idea.

Discover the insider secrets about Canadian real estate investing. You’ll find out what the really successful investors do and follow in their footsteps. Visit http://www.SecretsofCanadianREI.com for training specifically designed for Canadian investors and the Canadian marketplace.

Article Source: http://EzineArticles.com/?expert=Joseph_McKellen
http://EzineArticles.com/?Investing-in-Real-Estate—Tips-for-Successful-Negotiation&id=812672

By Chris Parks

What is one of the best ways to approach taking control of your life? Many feel it is having your own business. To be clear, I am not advocating quitting your job tomorrow to start a new business as this would not be wise. You most likely would not be able to replace your current income right away. What I am suggesting however is “building” a Real Estate Investing business in your spare time, which is different than “starting” a business.

You see, starting a Real Estate Investing business implies that you will finish it or simply give up. When you build a Real Estate Investing business you are doing it the right way, at a pace you are comfortable with. Building conjures images of growth, and that is what you want. Right? So how do you build a Real Estate Investing business?

First you need to choose a Real Estate Investing vehicle or strategy that you can work in your spare time, without jeopardizing your current job. Ideally you would be able to begin building your Real Estate Investing business with very little money. You would not cause financial hardship to your family.

You would be able to use resources that you already have. You must have a product that is desirable and that you can build upon. The Real Estate Investing business has to have the ability to begin earning money quickly. There must be enough growth potential to eventually allow you to quit your job and regain control of your life.

I know this may sound like a pretty tall order, but remember we are talking about your financial future. Would you want anything less? You will have to steadily work towards your goals (you must set goals), and it requires a different way of thinking.

Change is not easy, but it is necessary. Are you currently living the life you have always dreamed of? If not, you need to change something. Remember, regardless of the economy, a Real Estate Investing Business is a perfect product people simply because people will always need a place to live.

About the Author:

Chris Parks is a Real Estate Investor who has been involved in Real Estate in one capacity or another since the mid 1980s. As a member of a small group of Real Estate Investors and Entrepreneurs, and always having the knack for explaining Real Estate Basics in an easy to understand manner, Chris created Real Estate Investing for Newbies http://www.REIforNewbies.com in order to teach and assist new Real Estate Investors in a step-by-step, easy-to-understand manner.

(c) Copyright - http://www.REIforNewbies.com All Rights Reserved Worldwide.

Article Source: http://EzineArticles.com/?expert=Chris_Parks
http://EzineArticles.com/?Real-Estate-Investing—Building-a-Business-vs.-Starting-a-Business&id=812433

By L. Winslow

Consumer Confidence has literally tanked due to the fall-out in real estate and the credit crunch. These hard times in real estate are affecting the stock market, retail sales and small business. However, in chaos there is always opportunity - Always! So where is the opportunity in real estate, how can you make money on this bubble bursted collapse?

Well, it just so happens that the other day I was streamlining my library and chucked some books into a box going to the Goodwill, then I grabbed one, and thought well maybe I should re-read a few chapters in this one, scan the material once more. Interesting indeed, the book in question:

“A Fortune at Your Feet - How you can get rich, stay rich, and enjoy being rich with Creative Real Estate” by A.D. Kessler - 1981.

Do you have what it takes to make money in real estate, using A.D. Kessler’s creative methods? We all know A.D. Kessler as a real estate guru, late night infomercial hype guys and this book is an extension of that type of methodology. Secure real estate with no money down, make deals, find foreclosures, make negotiations and build wealth. A.D. Kessler was one of the first real estate guys of this type and had a very successful magazine on creative real estate, and trained many real estate professionals to use his system and methods to achieve wealth.

With the real estate market crashed and foreclosures running ramped his books and advice are now becoming very popular once again. How do you find the best properties to buy? How do you find tax lien sales, how do you find properties that are distress sales? A.D. Kessler’s book discusses all this and more. If you are ready to do a little homework, you might find yourself in a position of opportunity during this drastic time of chaos in the real estate markets.

L. Winslow is an Economic, Political and Technology Advisor to the Online Think Tank, a Futurist and retired entrepreneur http://www.worldthinktank.net Currently Mr. Winslow is planning a bicycle ride from Canada to Mexico and in Spring across the US from San Diego to Virginia Beach to raise money for charity. Previously he was a track star athlete, private pilot, involved in politics, community volunteerism and a Franchising Founder. Mr. Winslow has chosen 100 titles of Books he wishes to write and has completed ten thus far. The subjects include; Community Planning, Future Tech, Franchising, Small Business, and Third World Issues.

Article Source: http://EzineArticles.com/?expert=L._Winslow
http://EzineArticles.com/?Chaos-Begets-Opportunity—Even-in-Real-Estate&id=813119

By Chad Wiley

1. Money is made at the buy, not the sell of your flip. When flipping a house your money is made at the purchase not at the sell of the house. So, many times people buy a house with the intensions of making a huge profit only to find out that they could not make any money after all the renovations because the purchased price of the house was to high. When you purchase your property you need to be sure that you buy the house with enough money to make renovations, have carrying cost, and add about 5% for extra expenses, and see what type of profit margin you will be left with.

Example: If you buy a house for $120,000 and the houses in the area sell for $155,000, and the house needs $15,000 to fix it up. You are now at $135,000. Carrying cost for six months on the home is $6,000. Now, at $141,000, and the fees and closing cost my extra 5% $6,000. Now, cost is at $147,000, and that is if everything goes as planned. Profit is under 10,000 dollars. The mistake was made at the purchase at the home, not the sell.

2. Get an inspection on the home - Get a complete inspection done on your property. By, spending a few hundred dollars on this expense you can save thousands in problems that you cannot see. Foundation, Pest, Wood Rot, Etc… By, getting a full inspection you can rest assured that you know every thing that is wrong with the property before its to late. In the contact for the house you need to make sure that you have 7 days to have a inspection preformed, and if the inspection finds problems that are going to cost more money that you are willing to spend you can get out of the contract with no penalties.

3. Don’t do the work yourself: - Get a contractor or several sub-contractors and have the work done quickly. You need to have you house flipped ASAP, so that you can get it on the market and get it sold. When I started flipping my brother and me did a house together, and we did all the construction. I had a construction background and figured it would save thousands, but it took us over 4 months to get the work done that a contractor could have had the work done in a month. But, we trying to save money on our flip did all the work on our time off and after work, and it just took to long. On our 2′nd flip we used contractors for almost everything and had the house completely flipped with a new roof, new air conditioning, new hardwood, and much more in only 3 weeks. We did not have to spend all our time working on the property and were able to spend that time looking for the next deal. This is how you get rich in real estate.

4. Place the property 1 to 2 percent below market value: If you are wanting to flip real estate and make money the object is to buy and sell the property as quickly as possible, so that you can move on to the next house. If you purchase a house and try to sell it at top dollar to make and extra couple of thousand dollars on your flip, and end up holding it for 6 months you are loosing money. Get the house on the market at a price that is going to blow the competition away, and you will sell it no matter what the market conditions. On our second house the market for selling house went down do to the housing market as a whole, and the tightening of the loans across America. We were told that you could not sell a property in this market, but we went ahead anyway and flipped our house. After 3 weeks on the market we had 3 people wanting to buy the house. Why, because we offered it at such a great deal that people wanted to jump on it. That is what you have to do especially if the market is slow.

5. Use a real estate agent - Do not try to sell you house on your own. Harness the power of a real estate agent and the power of the MLS system. When you do a FSBO you are depending on people driving by your house and seeing you sign, with a real estate agent you have some one actively marketing you house to get it sold. Once again this will free up more time for you to look for more great deals. If you want to help the process I have found that craigslist and listing you house in google adwords help to, but I use these tools with the help of a agent to make sure I have all my bases covered.

I hope this article has been helpful with the basics needs of flipping a house. If you will study and learn you will make money. But, do your homework before you purchase a house, and make sure that you can pull a profit on your deal. Then, make it happen!

By: Chad Wiley

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Our website allows you to list your home for free, and is a great resource for real estate information.

Article Source: http://EzineArticles.com/?expert=Chad_Wiley
http://EzineArticles.com/?5-Things-You-Should-Know-Before-You-Flip-A-Property&id=813118