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
When making an offer on a property there are many contracts to use. I use the realtor form for the particular state I’m buying in, but you’ll want to take the realtor logo off the document because there’s no realtor involved. There are two reasons you’ll want to use the same form as the realtors. The first one is in the event you ever have a seller say they want their attorney to review the Read More
Negotiating win win transactions is a very important part of becoming a successful investor. You can’t negotiate with properties. You have to negotiate with people. Remember that people do business with people they like and trust, so it is important to always be respectful to people and treat people the way you want to be treated. When you become a real estate investor you’ll come into contact with all kinds of people, and in all 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 newspaper ads. There are a lot of different ads that you can run. This is one of the key ways that a lot of people get started. There are also a lot of other people out there running ads, so you want to be creative about where you run them. You may not only want to run them under “houses for sale”, you may also want to run them under “houses for Read More
If you’re in business, you need unique business cards. Just your picture will make people hang onto your card longer than a generic card. I recently saw a card where an investor copied part of a $20 on the back so when it was upside down it looked like it was a folded up $20. We use million dollar bill business cards. Some people have magnetic business cards, some fluorescent colors, but the point is Read More