There are essentially three ways to find deals: prospecting, marketing, and networking. Prospecting involves searching for opportunities. It is a thorough examination of neighborhoods, pre-foreclosure and foreclosure lists, websites, and For Sale signs. Marketing is attracting the attention of potential sellers...
"Thinking is the hardest work there is, which is probably the reason why so few people engage in it." - Henry Ford In his book How to Become CEO, Jeffrey J. Fox writes, "Spend one hard hour every day planning, dreaming, scheming, thinking, calculating. ...
You can invest in real estate with little to no money, or you can invest with lots of money (yours or perhaps a lender’s or partner’s money). You can conduct a quick flip where you never owned the property or owned it for as little as one hour,...
Good tenants come to you not by accident, but by design. There are good tenants in every price range and in every neighborhood. A professional landlord will attract quality tenants. An unprofessional landlord will attract troublesome tenants. Below are some tips that may help you increase your rental income...
Tip #1: Add a basic alarm system. The number one concern for any resident is security. If a homeowner or tenant does not feel secure, then eventually they will move elsewhere. Many security alarm providers have lucrative introductory offers for equipment and/or installation. If you provide an alarm...
One of the greatest discoveries a man makes, one of his great surprises, is to find he can do what he was afraid he couldn’t do. - Henry Ford What are the risks in buying a short sale? Most short sales involve sellers who are financially struggling. That...
It was supposed to be a simple transaction. Invest in a small fixer upper house, renovate it, rent it, and have the tenant pay the mortgage. The young couple had allocated $52,000 of their savings to buy a detached single family house as their first...
What is a straw party? A straw party relationship consists of a straw man (also known as a nominee or agent) and a principal (also known as a beneficial owner). A straw man has been defined to mean a mere conduit or medium for the convenience...
Real estate transactions and interactions can be challenging. It’s not a matter of if, but when, a tough situation will rattle you emotionally, mentally, or physically. I find these quotes inspiring in good times and more importantly, in bad times. Just reading through these pearls of wisdom provides...
If you are buying, fixing, and flipping single-family houses – particularly starter homes – then you need to know about the Prohibition of Property Flipping Rule created by the Department of Housing and Urban Development (HUD) to prevent egregious predatory flips within the Federal Housing...
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