To some understanding appraisals can be challenging. Let’s take a look at the process. Once we know how much it’ll cost to get the home repaired then we must find out what it’ll be worth after the repairs are made, if any. We’ll be getting what’s called an appraisal based on the “after repaired value”, sometimes called “subject to” improvements. Before we buy this property, we want to know the true value based on an Read More
When you get a property under contract you’ll want to have it inspected by a rehab contractor to see what it’ll cost to make any necessary repairs, if any are needed. You’ll want to have the contractor use your form so if you get more than one estimate then everyone will submit their repair estimates on the same form. This makes it easy to compare apples to apples. If the property needs a lot of Read More
Newspaper Classified Ads In the bookmarks of my Ultimate Buying & Selling Machine home study course, there is a section called “newspapers” where you can go to the sources I have provided for you and find any local newspaper in the United States that has a web presence. That way you don’t have to buy the newspapers. With these bookmarks you can find any local newspaper and you’ll be able to save them right to Read More
Realtors are a great source for deals. We used to buy most of our properties from realtors. I say go after the low hanging fruit in your area. That means what works best in your market. At one time the realtors were the easiest way in my market, but now we also use other methods. Let’s see how you can work with realtors. First, every time you talk to a realtor, get their email address Read More
With Google you can run advertising campaigns on what is called “Google Adwords”. If you go to Google and search for anything you’ll see that there are listings down the side of the page and a couple at the top. These are paid advertisements. Go to Google and search the words “sell my house” adding your city to the search term first. Ex: “Charlotte Sell My House”. Look at the different ads of local realtors Read More
Canvassing is like putting out door hangers but you’ll actually ring the doorbell and have a script you say at the door. There are many places you can canvas. You may be going to people in pre-foreclosure or just in neighborhoods where you want to buy houses. Realtors do it all the time and they call it “farming a market”. You want to be careful when canvassing especially if you are female and/or you’re hiring Read More
Let’s talk about luxury homes for a minute as I get a lot of inquiries about investing in them. A luxury home, by definition, will vary depending on the area. In Orange County, California where the median priced home is almost $800,000.00, a home would have to be at least several million dollars to be classified as a luxury home, in my opinion. Where as in my area the median priced home is in the Read More
Identify the ways to flip a property Flipping real estate is a buzz term that has come screaming into mainstream media in the last few years. Its growing popularity is evident by the magazine articles, TV shows and Average Joe teams trying to break into the business. Is it easy? What is it? How does it work? Flipping real estate simply means purchasing or acquiring a property then reselling it quickly while attempting to earn Read More
Advantages of Investing in Multi-Units One target market in real estate investing is “Multi-Unit” complexes. The term Multi-Unit can include a variety of properties: Duplexes: two residential units under one roof Triplexes: three residential units under one roof Fourplexes: four residential units under one roof Multi-Unit Complexes: six or more residential units under one roof The first 3 types, duplexes, triplexes and fourplexes, have similar qualities that attract real estate investors: There are automatically 2-4 Read More
Buying properties from out-of-state owners is what I consider to be the most overlooked method for getting great deals. Why? Because many top investors are NOT pursuing this method. Here’s the situation: Those who aren’t pursuing out-of-state owners often tell me, “Yeah, I need to be doing that.” And the ones who are already doing it absolutely LOVE it! The worst comment that I’ve heard about this method was as follows … “I tried mailing Read More