Check out the free 2008 Internet Real Estate Yellow Pages (pdf). It contains all the names and contact info for all the players you need to know about if you want to make money in real estate. This is published by MagicBullets.com.
Real estate investing isn’t just for retirees looking to earn income. The promise of guaranteed earnings and the huge earning potential make REI one of the more popular ventures for many younger folks as well. With REI, the old adage of starting with the end in mind rings very true.
To begin, decide what type of REI you want to do before you ever look at your first house. Are you looking for a property to flip? Are you planning to renovate the property for some other use? Will you rent it out as an income-producing property? What kind of area are you looking to buy in - rural, urban, or suburban? Knowing which direction to head in will save you some time and help you find the professionals and funding that are right for you.
Once you know what type of real estate investment you want to make, start talking to area real estate agents. The right agent will know the market, and be able to offer guidance from an investment perspective. Depending of the type of REI you have chosen, a knowledgeable real estate agent will be able to help you quickly locate properties that fit your needs and your budget. Don’t be afraid to let the agents know you are talking to others… REI is a huge money-maker. The promise of commission on a huge sale will be more than enough to make the real estate agents compete for your business.
Once you have an idea of what’s out there for the type of real estate investment you want, start shopping around for financing. Have no credit or bad credit? Consider creative financing through private money lenders. PML’s are often the funding choice for companies and well established real estate investors. They offer flexible funding terms, and can also put up money fast … two very important things to keep in mind on deals that must close quickly. Otherwise, talk to banks and other financing companies to find out what’s out there. It is best to prequalify for funding before going house hunting. This will prevent headaches later for everyone!
Real estate investing is not as hard as people might have you believe. It does take research and persistence. The income potential is amazing… there are tons of true stories out there of everyday, normal people making thousands of dollars through REI. It is possible, and it can be you. If you do your homework, and master the basics, it won’t be long before people are reading your story of excellence and success.
About the Author:
John Krajewski is a 33-year old real estate investor who has spent several years building a successful REI portfolio. After facing and conquering the common REI trials and tribulations that most new investors deal with, John has poured his wealth of valuable information into one amazing e-book: Secrets to Foreclosure Profits. This powerful e-book teaches real estate investors of any level how to profitably invest in foreclosure properties using the insider secrets and little-known tips discovered by John during his direct experience with foreclosure REI. Besides real estate investing, John also enjoys snowboarding, mountain biking, networking with other investors, and spending time with his family. Learn more about John’s e-book Secrets to Foreclosure Profits at http://www.4closuresecrets.com
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By Simon Volkov
If you play your cards right, investing in foreclosed properties can be a very profitable venture. Although it’s not quite as simple as the late-night infomercials lead you to believe, the following tips can help you prepare for what lies ahead.
Before property is labeled “Foreclosed” it must first be placed for sale through a real estate auction. In order to purchase property through the foreclosure auction, individuals must place a minimum bid equal to the amount of the loan balance, along with any other costs associated with the process, such as accrued interest and attorney fees.
Typically, foreclosed real estate is sold “as is”. Occasionally, the ex-homeowner may still reside in the home and individuals who purchase the property will have to deal with having them evicted. This is not a pleasant experience, so conduct research on any foreclosed property you are interested in to determine if the home is vacant or occupied.
If your bid is accepted, it will be your responsibility to pay-off any liens and/or back taxes attached to the property. You will also be responsible for taking care of necessary repairs or renovations.
While it is true foreclosed property can yield a good return on your investment, it is imperative you engage in due diligence. Learn as much about the property as possible before placing your bid at auction. Keep in mind much of the real estate placed on the auction block is not worth the amount owed on the note. Therefore, you want to look for properties that do not have tax or creditor liens attached or those in need of extensive repairs or renovations.
If the foreclosed property is not sold through auction, it is returned to the mortgage company, who returns it to the bank. At this point, foreclosed property becomes real estate owned (REO) property.
Once foreclosed real estate becomes bank owned, the mortgage note no longer exists. Generally, the bank will negotiate with lien holders to remove or reduce liens placed against the property. They will also take care of evicting individuals still residing in the home. Occasionally, they will invest in repairs and renovations.
REO properties are frequently listed on bank websites. Included will be the name of the contact person, along with their phone number or e-mail address. Prior to contacting the specialist, thoroughly investigate the property and conduct research on the market value of other homes in the area where the foreclosed home is located.
If possible, obtain estimates to determine the cost of repairs or renovations. If you plan to do the work yourself, determine the length of time it will take to complete the repairs along with the cost of materials.
Keep in mind banks are just like any other business. Their eyes are on the bottom line. If you want a good deal on an REO foreclosed property, make a respectable offer and leave room for negotiation. More often than not, the bank will respond to your original offer with a counter-offer. You may have to submit several counter-offers to obtain the price you want. Be persistent and remember, virtually everything in a real estate transaction is negotiable.
Not every foreclosed property will be a good deal. You will probably have to sort through quite a bit of rubbish in order to find your diamond. But, it can and does happen and there’s no reason you can’t grab your slice of the real estate pie.
Simon Volkov is a private Real Estate Note Investor in Orange, California. He offers nationwide investment opportunities for serious investors via RSS feed and email subscription. His website provides resources and articles focused on today’s real estate market. Subscribe to his free investment opportunities by visiting www.SimonVolkov.com.
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Investment in property is seen as one of the best ways to earn money from your existing capital, with stable yields year on year. But why is it that property is such a worthwhile investment, and isn’t investing in property tying you down and your money up in bricks and mortar? In this article we will look at exactly why property is considered to be a wise investment, and the factors to consider when investing your money.
Investing in property can be a very beneficial endeavor. Working around basic accounting principles, the property you acquire is a capital asset, thus hopefully increasing your overall net worth. This doesn’t seem the case when you consider the amount of money you can plough into property with no immediate return. However, property usually appreciates in value, rather than depreciating, year on year, which slowly increases the value of your total assets for when you eventually sell. Furthermore, this overall gain doesn’t fall within the parameters of income for tax purposes, and so can escape this burden to a large extent in your annual tax returns.
Investing in property also has the added bonus of allowing you to grant charges and standard securities against borrowing, over a property that isn’t your home. That means you can raise finance from your property without risking your home, so even if you default on the loan repayments, you’ll still have a roof over your head. Furthermore, if you negotiate a lease with a tenant for your property, you can expect a return of 8% of the value of the property each year in rental income, which would certainly be sufficient to pay off any mortgage and leave some nice profits to play with. Just remember to let the taxman know, because he has a claim on that as extra income.
A potential way to secure property investment is to act through an incorporated company, to raise finance from investors and institutional lenders alike. Of course, this has the great advantage of limited personal liability, although you may still find yourself granting personal securities over money you borrow. Whether or not you choose this vehicle, it is certainly one of the most popular for large scale property investments the world over.
Investing in property isn’t a guaranteed return on investment, but you’re almost as good as it gets. Property has the potential for high earnings and big profits, but with all this big money floating around, remember the scale of risk involved.
Jonathon Hardcastle writes articles on many topics including Investing, Finance, and Business.
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http://EzineArticles.com/?Property-Investment&id=898459
By Bryan Benson
An over leverage home is one that you want to stay away from… meaning that the amount owed is more than what the house is worth, even more than the AVR. About the only thing you can do with these homes is list them.
An exception might be if there is significant damage to the home, for example if there is fire damage. Under these circumstances, selling the home by traditional means may not be an option. The average buyer does not want to buy a house that needs repairs, they want a house that is ready to go… ready to move into and start making it a home.
But people in this business are not the average buyer. In fact, homes in this condition are exactly what is sought after. Spending a couple thousand dollars in repairs is all that is needed, and then the house is back in shape to sell to that average buyer, which is what generates our profit.
Complications can creep in when it is a HUD home. They usually insist on listing the home, which only a realtor can do. But again, we’re dealing with a home with excessive damage which can’t be listed the traditional way. So, do you just tell the mortgage company the place had a fire so there’s no point in listing it because no body’s going to buy it, or should you play the game for a while?
That’s really the question. Well, the answer is you’re going to need to play the game. HUD mortgage companies have a set of parameters that they have to push this thing through in order to get it to meet their criteria. Because even lost mediators are subject to internal audit and if a deal ever comes up down the road as having not been done by the book, their butts are on the line. One of the most common parts of a short sale is for the seller to have had the house listed at one time previous to your negotiation with the bank. The bank wants to know that all normal methods of selling this house for some value greater than what you would presumably offer have been exhausted.
You may also be wondering if you should let the bank know that the place is vacant until they’ve figured out for themselves via the VPO or something. It is preferred that the house be vacant and you having the control of it and being the VPO contact. So at that point you’re going to have to disclose the fact that it is vacant because they are going to need to get in it to do the VPO.
For additional information on real estate investing and the hot foreclosure market, I recommend joining Ron LeGrand’s href=”http://www.MillionaireMakerNewsletter.com” mce_href=”http://www.MillionaireMakerNewsletter.com”>Millionaire Maker Newsletter The newsletter itself is loaded with great tips and resources, and he’s usually giving away something free like a CD or something that generally has a lot of great information on it.
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By Peter K
One of the most difficult things for new real estate investor is finding real estate investing deals. In fact, there are some experienced investors that continue to have this problem, even after working at it for several years. Although it can be difficult to find real estate investing deals, it is not entirely impossible.
The first thing that investors must do to find deals is lose the mentality that a fairy will allow deals to fall in your lap. Did you notice any deals coming to you before you were an investor? Why should you attract more deals after you start real estate investing? The answer is that you won’t. To find real estate investing deals you have to look for them. Some of the more traditional ways are knocking on doors, which is very effective technique, but you have to either walk from one house to another or hire someone to do it for you. Either way, either you or someone else has to go through a tedious process.
One of the more recent, 21st century technique to find real estate investing deals is by using the power of the Internet. The Internet can and will allow you to have motivated seller contacting you instead of you chasing them. So how do you go about doing that? Well, there are several ways to approach this process.
One way is to set up an adwords campaign on Google. Adwords are those tiny ads you see at the top and right sides of your screen when doing searches on Google. People pay certain amount for each ad and Google posts them on each and every single page. There is a lot of different criteria that go into creating a successful adwords campaign that I just cannot get into it here. It would take me page and pages trying to explain it to you. I do have a valuable Internet resource on my website that is specifically optimized for real estate investors.
Try running real estate investing newspaper ads. Many investors don’t purchase ads because they are deemed as being expensive. Think about it like this: all it takes is one real estate investing deal for you to come up with the money to pay for an entire year of ads. Sound better? It should. The best place for your ad is in the “Money To Lend” section of the newspaper. When foreclosure is looming, many homeowners want to borrow the money to save their home. Once you receive a phone call from a potential distressed seller, you can begin working your real estate investing magic.
How would you like to find out about an alternate Internet resource that lets you post those same ads for free? Well there is such a resource and many people oversee the power it holds. it is one of the biggest and most popular sites on the Internet and is specifically targeted to your local market. it doesn’t get any easier to find real estate investing deals than this. This free resource
is called craigslist. Just type that into Google and it will be there, trust me. The you just go to your local market and post your ads.
Don’t think that because it’s not raining real estate investing deals that there are none out there. There are plenty of deals all around you, you just have to look for them. Until you establish your reputation, you have to do the work it takes to find deals in real estate investing deals. People won’t just bring them to you right off. Do the work that other investors aren’t willing to do. Soon enough you’ll find yourself with more deals than you can handle.
Peter K is the founder and creator of the latest real estate investing resource, “Real Estate Black Book.” Real Estate Black Book is the Ultimate, All-In-One real estate investing Internet Resource. This 56 page ebook contains every Internet resource you need to help you succeed in real estate investing while helping you dominate your local real estate market. Craigslist is just one free resource that I have listed here. there are several other popular websites that let you post your ads.
For a limited time, you can get your very own Real Estate Black Book for FREE. Just go to http://realestateblackbook.com to find out how to get it for free.
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The following collection of real estate investing tips will probably have a few things that you already know. That’s okay. There will be a few you haven’t heard before as well, and in any case, we sometimes need to be reminded of what we know.
1. Find an agent with the right experience. When selling real estate, drive around and see what else is for sale in the same area. Look particularly at the name of the agents on the signs. The agent whose name shows up the most in your neighborhood will likely know best how to price and market your property. You can also do this by looking through real estate guides to find those agents who are either active in your area, or with your type of property.
2. Make low offers correctly. When making a low offer that may offend a seller, let him know that it isn’t personal, that this is just what you need to make the deal work for you. You can include a list of concerns or of things that you will have to repair, to justify the lower price. If you have a choice in a situation like this, it may be better to let the agent present the offer without you. It can be tough for a seller to hear you say anything bad about his property in person. A list of concerns is less personal, and less likely to offend him - which makes it more likely that he’ll seriously consider your offer.
3. Look for “extra” opportunities. When flipping a house, you might normally look for fixer uppers that can simply be “put into good shape” and sold for a decent profit. But if there are “extra” opportunities that other investors aren’t seeing, you can make even more. These are things like a full basement that can be converted into living space, or attic space that can be made into a bedroom or office, or an extra lot that can be split off and sold without reducing the value of the home much.
4. What to do when rentals won’t produce cash flow. People often buy rental houses, duplexes, and even four-plexes for homes, thinking they are “investing” as well. They pay according to personal values, so these properties can be priced well beyond where they would produce cash flow. Apartment buildings, on the other hand, are priced according to one thing more than anything else: net income. The lesson? When you can’t make cash flow with small rental properties, think bigger.
5. How to find motivated sellers. Real estate investors will often talk about the importance of “motivated sellers,” but how do you find them? When searching newspaper classified advertising, pay attention to the wording. “Need to sell,” “Must sell,” and “Will look at all offers,” are the usual indicators, but you can look at the rental ads too. “Must have a good job,” may indicate a landlord who is tired of tenants and ready to sell. Searching county records for out-of-state owners is another way.
6. Don’t rely on appreciation. If you are planning on rising real estate values as your primary way to profit, you’re speculating, not investing. Recent drops in values in many areas show the flaw in this strategy, but also keep in mind that transaction costs can be up to 10% of the sales price, so you have to have a big increase in value just to break even. Enjoy any appreciation as a bonus, but buy based on the cash flow, a plan to increase the value (fix and flip), or some other well-thought-out plan for profit. This may be the most important of these real estate investing tips.
Copyright Steve Gillman. To see a photo of the house we bought for $17,500, get a free ebook on how to buy Cheap Homes, and a free real estate investing course, visit: http://www.HousesUnderFiftyThousand.com
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There are a lot of catalogues of free insurance quotes, available on the web directories for the clients. The bank loan is offered for the customers by going through all process of loan. The banks are liable of repossessing the real property of the debtors if the debtor is unable to pay all loan charges, this process is known as foreclosure. The payday loans are provided for the customers for the short terms when they are in need of money urgently. The mortgage broker leads are offered for the customers who want to take loan on the basis of real property. The life insurance provides monetary security for the insurers in the case of any injurious or death case. The dental insurance provides the financial help to the customers who want to get services of dentist for teeth treatment.
By Bruce Swedal
One of the hottest trends in real estate over the last few years has been “flipping” houses. You see it everywhere, in books, articles and reality TV shows. Flipping is hot and why not? There are several ways to do it successfully and here is a list of the most common.
The first way we will discuss is the most common. That is the buy it, fix it then flip it method. Basically you buy a fixer upper and repair it then sell it for a profit. Many successful real estate investors have been doing this for years. They have tested out the system and proven it for you. The key is to purchase home as a bargain that requires as little fix-up as possible and you can typically generate $15k to $50 in profit.
Another method for flipping is the as is flip which works in hot markets. If you are not interested in fixing up properties flip it untouched. For this to work you typically need a home that does not need much in the way of repairs. In a hot market you can price the home for sale just below market and quickly turn a profit in a short period of time.
Then we have the buy it and refinance it with a lease option flip. Using this method for flipping you buy the home, fix it up and sell it for terms. That means you are selling the property in a lease with an option to buy later. The mortgage payment for the home will be covered by the rent payment you receive during the lease. If your tenant later exercises the purchase option you will get your profits without incurring the cost of a realtor in most cases.
Yet another method of flipping is called the wholesale flip. You can use this method because the buy it, fix it and flip it scenario is so hot. When there are a lot of investors in the market seeking fixer uppers you can capitalize on this trend by finding the properties that show promise and re-selling them to investors ready to fix them up. Using this method does not generate the per unit profits that that fix it and flip it method does, but you can turn properties much faster for a smaller profit and not that much effort.
The last tactic to be covered is the pre-construction flip. This method should be used when the real estate market is very hot and appreciating at a rate of around 2% per month. By purchasing a home from a builder before construction is finished you can then complete the purchase when construction is complete and immediately resell the home for a profit. There is a potential down side on this method if the market should slip. Then you could end up with a home that is worth less than when you ordered it 6 months previously. Typically when home buyers are in the market for a newly constructed home they will pay a premium over the normal price if they can get a nicely upgraded home that is available to move in now.
If you are considering flipping homes for profit one or more of these methods should work nicely for you. You just need to evaluate the market you’re in and choose the method for flipping that will work best based on the market situation.
When you want to sell your home wouldn’t it be a good idea to have it listed on the href=”http://www.bruceswedal.com/” mce_href=”http://www.bruceswedal.com/”>Denver Real Estate website with the most traffic? Find additional resources at the Authority href=”http://www.authoritydirectory.com/Real-Estate/” mce_href=”http://www.authoritydirectory.com/Real-Estate/”>Real Estate Directory.
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By Denton Ward
The process of investing in out-of-state real estate is not any different than investing in real estate in your own community. You have two choices. You can do it on your own or you can work with a professional and reputable real estate company.
To an extent, investing in out-of-state properties has developed a negative stigma because investors have had bad experiences. Sometimes the problems arise because an investor “jumped” into a situation based on poor information provided by a friend, family member or business associate. Other times a bad situation is created by individuals or companies who are promoting themselves as “experts” in out-of-state real estate investing. Frankly, many out-of-state real estate companies don’t have any idea what they are recommending, have never been to the area they are recommending you invest in, and don’t care what you buy. They are simply looking for a way to get a pay check.
Before you invest, ask these questions:
1) Are they licensed and do they carry the proper insurance?
2) Is working with investors to purchase out-of-state properties the only focus of their business or is it something they do part time?
3) If they are a mortgage company, do they only recommend that you invest in areas/states where they are licensed to write loans? If so, what does that tell you?
4) What type of research do they conduct? Do they travel to every location they recommend? What demographic studies have they done? What reports have they read? Do they subscribe to any real estate investment newsletters they could recommend you read?
5) What services to they provide? Do they provide referrals for brokers, property managers and mortgage companies? Do they provide an escrow coordinator throughout the escrow process?
6) Are they recommending you become a speculator or an investor? (Speculator: get rich quick, big promises, take a chance. Investor: long term, buy & hold to create wealth)
7) What areas are they recommending you invest in? We can’t stress this enough. Are they doing what is easiest for them or best for you? Ask them for verification for everything you’re told (rental comps, sales comps, cash flow analysis, current appreciation rates - not last year’s appreciation rates, projections and demographics).
What types of properties are they recommending you buy? Are they matching your goals, tolerance level and financial abilities with properties that will help you achieve your goals? Or are they just selling you anything so they can make money? DO YOUR DUE DILIGENCE!
9) How long have they been in business of out-of-state real estate investing?
10) How many rental properties do they own and where?
Nationwide Real Estate Investments takes pride in helping investors make sound investment decisions that they can be proud for many years. Quality is never sacrificed for quantity. Do not hesitate to contact me if you have more questions about out-of-state real estate investing. This article is surely the tip of the ice burg when it comes to investing in residential real estate.
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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.
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http://EzineArticles.com/?Where-to-Find-Fixer-Upper-Homes&id=810959
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