Mortgages Real Estate Investments Plus
Home Loan Deals & Mortgage Refinancing Tips
|
|
|
|
|
| |
|
|
|
|
| |
|
Be A Successful Loan Officer - Insider Land Secrets - Building Business Credit - Mortgage Secrets - Personal Loan - Bad Credit Loans | |
|
You are free to use content from this page in your blog or website, in return for a link back to this page from that blog or website.
Take The Guess Work Out Of Your Wholesale Property Purchases
We have become very concerned by the number of readers writing to us asking how to determine which are the wholesalers(*) that can be trusted. Why are we concerned? Because when we dig a little deeper, we realize that they are buying properties based solely on the recommendation of the wholesaler. They're guessing which ones to trust, and which houses to buy. That's a dangerous way to do business. Are we saying that most wholesalers will take advantage of you? Of course not. We believe in wholesaling. We wholesale many deals ourselves every year. Frankly, the majority of wholesalers are honest, and try to provide data that is as accurate as possible. The problem is twofold: first, wholesalers are sales people and present deals in the best light possible. The Buyers still need to do their due diligence to make sure the deal works for them. Second, wholesalers can only provide what the average renovator may incur as expenses. Your individual, specific expenses in any given deal may be higher or may be lower. It also depends on what exit strategy you're planning. That's why two investors can analyze the same deal, and one decide that it works great, and the other decide there's no profit. Both views may be correct since everyone's individual costs vary. When you purchase any property, you have to calculate your own specific costs to determine if it is a good deal FOR YOU. It could be a great deal for many investors, but not for you. Only you can make that determination. Conversely, other people may have to pass on a deal that you, because you may have better resources available, will jump on the opportunity. You also have to evaluate the After Repaired Value yourself. We still hear buyers talking about getting an appraisal to determine the value. An appraisal is a tool for the lender ' NOT for the investor. Appraisals are an art, not a science. We could bring three appraisers to a property, and get three different values. Therefore, it's up to you to do your homework and figure out the right value. The question is: "What will this house sell for when the rehab is complete'" You obviously do not want to use as a comp the one home that sold significantly higher than all of the others. But by the same token, don't use the lowest values either ' you'll never buy a house. We use the highest price cluster of similar homes we find in the area as our comps. This is the most realistic version of what you can expect in the marketplace. We do not under-value the property making it impossible to buy deals; nor do we over-value the property potentially resulting in no profit. Use the information the wholesaler provides you as a guide to determine which deals to pursue, but then do your own due diligence. Determine your own specific costs, and determine your own property values. Don't guess whose numbers are correct. In the long run, you'll be much more successful as an investor. (*) Wholesalers are investors who market extensively to attract motivated sellers, get the property under contract, then sell the deal to other investors who will fix up the property and re-sell to owner-occupants. Best of success & abundance, Lou Castillo FREE! Real Estate Investing Secrets To Earning $100,000 Your 1st Year! -- 11 Overlooked Real Estate Statregies That Will Turn Your Investing Business upside Down And On The Fast Track TO Success...Guranteed! Plus A Bonus Track With A Secret So Successful It Can Double Your Investing Income Overnight! http://www.InvestorSuccessTactics.com
Cat 10542 |
|
|
|
RELATED ARTICLES
Does Staging Work' Staging can involve minimal effort on the part of a seller. Merely rearranging furniture can show a house off to advantage. For some sellers, however, staging a home for sale is a major production. It might include hiring a fix-up-for-sale decorator and renting a house full of furniture, complete with house plants and decorative art work. Horses In My Back Yard Horses In My Back Yard Invest In Real Estate - But Where' Where should you invest in real estate? If you know an area well, and have enough experience investing in real estate, you can make money almost anywhere. However, there are always places that are better or worse for real estate investments - places that have a better demand/supply ratio. Use the questions below to find them. Buying Overseas Property Fourteen Top Tips for Overseas Property Investment: 3 of the 5 Ways Real Estate Can Take Advantage of Blogs and RSS Earlier this month, Realtor Magazine announced that they would be featuring an article about Tampa Bay Realtor John Mudd and the success he has been having in attracting prospects and media attention with his blog on real estate. Since then, many others in the Real Estate market have been curious about how to implement similar strategies to capture leads in their areas. A Powerful Suggested Technique for YOUR Home & Property Search A Powerful Suggested Technique for YOUR Home & Property Search How to Build A Rental Property Money Machine If you are looking for a steady, income-producing investment that isn't dependent on the ups and downs of the stock market, rental property is just the investment you're looking for! 3 Strategies For Buying Property With No Money Down Everyone has heard a story or read about someone who bought a property without paying a single dime as a down payment. But how does this work? Atlanta Georgia Real Estate - Marietta - East Cobb, Roswell, and Alpharetta Whether you're a "move up" home buyer, downsizing, or relocating to the metro Atlanta area, you'll find a diverse range of home styles and price ranges just north of downtown in the Marietta ' East Cobb, Roswell, Alpharetta corridor. Featuring affordable single family homes, condominiums, townhouses, and luxury real estate, these communities also offer great schools and unbeatable location. Real Estate Investing Deals That SkyRocket Your Net Worth 10-Fold Consider these parameters for a real estate deal: Boston Real Estate - Interest Rates and Inventory Must be Analyzed when Selling Your Boston Home When selling your Boston home, it's good practice to be aware of what similar homes in your neighborhood have recently sold for. Recent comparable sales are not only what a good Boston real estate agent should use for guidance when pricing your home, but also what a bank appraiser will use if and when your buyer applies for a mortgage to buy your home. Conventional Financing For Wholesale Deals This info is very important for both new and experienced wholesalers, AND buyers of fixer-uppers, to carefully read and understand. We learned it painfully, hopefully you won't have to :-) Making Money In Real Estate - 10 Ways Making money in real estate is an endless topic that includes all the various types of real estate investments. There is land, apartment buildings, homes, commercial buildings and more. Whatever the type however, you'll make your profits in some of the basic ways listed below. Use this list to get yourself thinking of the possibilities. Real Estate Investors Kick Away $1,000 Those new to real estate investing often fail to take action because they don't have much cash. The truth is that the very best investors got their start when they had little or no money. Transforming Doghouses into Dollhouses Successful real estate investing depends largely on a correct assessment of a property's profit potential, but it also depends on your ability to transform a doghouse into a dollhouse. The renovation process involves physical work and choosing the best supplies, in order to create maximum positive emotional effect and profits, but if you make wise choices in your choice of colors, textures, and building materials, you'll assure yourself a fast and cost-effective sale. FSBO Novel Preface Preface Spain Excellent Choice for British SIPP Investors Second homes in favourite holiday destinations such as Spain are likely to be top of the shopping list when the pension rules change April 6th 2006, allowing individuals to invest in residential property through Self Invested Personal Pensions (SIPPs). Look Past the Bottom Line for a Propertys Potential It's unfortunate that many real estate investors tend to look at the bottom line when deliberating about a property, rather than the big picture. The real moneymakers in real estate investments are the people with vision, who think creatively, and are willing to assume some level of risk. Fantasy Gap [fast money in real estate] I was in the rental business for seven-years, made 1.3 million dollars the first five years, got ill, and had to get out of it slowly, but had the money to do it. I could have made five million had I stayed in another five years. But my point in is this: I watch TV, on all these quick ways to make money, and people really belief this crap. I mean, I owned seven buildings, but I worked 24/7. Ended up in court a dozen times; fought with the State over this and that. I mean, you don't get it for nothing like these TV fantasy folks would have you belief. Just buy this and that and don't invest, and you'll make it. First of all you need credit. Second, if you don't have $20,000-in the bank, if a furnace goes out, or your gas pipes go out, or whatever, who is going to pay for it? What can happen, will happen; the fantasy people forget to add that little equation into the formula. Raising Money For Property Development In addition to finding the right property, one of the most difficult aspects of property development is being able to fund the purchase and re-development of the property before putting it back on the market.
|
 |
| Copyright © 2009 www.dovada.net.au |
