Everyone has different levels of comfort in organizing their lives and each person has special tricks they use to keep themselves organized. I get to experience all the unique ways people “organize” their real estate files when they give me the opportunity to do their loans. Most mortgage brokers are thrilled at the thought of doing loans for people who own a number of properties and I am one of those mortgage brokers. I also Read More
I went to a continuing education class in South Carolina and the topic was Mortgage Fraud. Having taught mortgage fraud I thought that it was going to be pretty much the same old thing. Sure a lot of what they taught I already knew but I not only learned a few new things but it was also good to be reminded of a lot of things that you can forget about. I have talked to Read More
You are a new investor or maybe a seasoned one who just happens to really like this house. It is in a great neighborhood. The comps show that 2 years ago, this house sold for well above the tax value. Maybe the area is in the part of town that is historical and turning around like crazy. Sure, it needs a lot of work, but you will lose this deal if you don’t take it Read More
As I travel all over the country teaching real estate investors how to automate their business one of the questions I get asked the most is “how do I get my real estate business online like you”? Well that’s a great question and one that can easily be solved but lets think about this for a minute. What exactly do you mean by getting your real estate business online? Well, you can have a website Read More
Let’s take a look at the different types of leads you can you find at the Court House. Number 1: Divorce. You look for same last names of male and female in the Book of Civil Lawsuit in the Circuit Court. Now chances are, if they are going through a divorce, if they have real property, they are going to sell it. What you may want to do is either call or send out a Read More
Are you looking at prospective properties through rose-colored glasses? Functionally obsolete sounds like some sort of neurological problem. It can turn out to be a very dysfunctional financial problem. Properties can be dysfunctional if the layout of the house is odd, maybe you must walk through a bedroom to get to the bathroom. The house may have two front doors, 2 kitchens, or perhaps you must walk through a bedroom to get to the next Read More
Conducting a title search prior to transfer of real estate property involves searching for every available record or document that relates to present and prior ownership of the property in question with the goal of clearly defining the current status of the property title. In layman’s terms, we want to be sure that the property being sold truly and completely belongs to the seller and that he or she has the legal right to transfer Read More
1. Are you licensed? Most states require contractors, even sub-contractors to be licensed. Make sure your contractor is properly licensed. Anyone can say they are licensed. Make the contractor prove it by either showing you the license or giving you a copy of it. Remember to check the expiration date. Being licensed is the law. If a contractor cannot produce a valid license, DO NOT HIRE HIM! You can check the contractor’s current licensing status Read More
Ask yourself two questions. Do you have a Will? And do you have written goals for the next one, three, five and ten years? If you answered yes to the first question but no to the second, you are planning more for your death than your life. I challenge you to start setting some goals but remember if a goal isn’t in writing, it’s simply a conversation. It must be in writing and it must Read More
I know a lot of people need to flip properties, whether it is wholesale or retail, to generate cash to pay off some bills and to have money to enjoy life, but as you get your cash flow needs taken care of and start to build your portfolio, I want you to remember that it is not the number of houses that is important; it is the amount of income from each property. You want Read More