Wealthfront Finance Hi Larry, there are different thoughts on this – some people follow a similar logic to real estate agents (6% of the purchase price), others will make the fee as high as they can, while still making it a good deal for the end buyer, and others will make it a flat fee – regardless of what the numbers are. I don’t think there’s any hard and fast rule you need to follow – as long as you’re still delivering a good value to everyone in the transaction. Maintenance hassles: Clogged toilets. Broken garage doors. Rodents. The fix-it list can be endless, and many rental property owners are tasked with handyman duties, as well as collecting rents (and don't underestimate the challenge of finding and keeping quality tenants). If you're not cut out for all that work, you can hire a property manager, but it comes at a cost, approximately 6% to 12% of the monthly rent payment. Rent A Portion Of Your Existing Home Sports Books News & Media Residential Property Buyer Gathering information about the property (condition, listing status, square footage) © 2017 Passive Income M.D. 4 Ways To Wholesale Real Estate Ask Neal a Question No Money Down – OPM & OPC https://www.biggerpockets.com/renewsblog/2014/04/04/warning-newbies-stop-wholesaling-now/ Next post: Wholesaling Bank-Owned (REO) Houses (No, it’s not impossible.) OK… this is an incredible list. Thank you so much for taking the time to put it together. I will be sharing this content for sure and it is already bookmarked… See all Editorial Reviews #1 Cash Flow Thank you so much for joining us on this episode of the Epic Real Estate Investing podcast!  Please subscribe to the podcast so that you will get instant access to our new episodes. May 2016 Many real estate professionals use their experience in buying and selling properties to finance a comfortable retirement. "As real estate professionals, we're uniquely qualified to implement various investment strategies and to see opportunities that many people are never exposed to. Those who don't participate are missing a golden opportunity," says Daniel Bohlke of Bell-Key Properties Inc. in Hampton, Va. Consider these real estate investment strategies. I tried to order the course but the site was not working Some of the more popular REITs include American Capital Agency (NASDAQ: AGNC), Annaly (NYSE: NLY), Realty Income (NYSE: O). The Most Valuable Skill in Real Estate Will Eagles on September 27, 2017 at 1:11 pm Real estate sites are are a great place to find distressed properties but you need to know which ones to look at. You want to utilize sites where motivated sellers are able to post their own properties. Are there some crowdfunding real estate that can be used for a canadian? Both of them (FundRise & RealtyShares) don’t accept canadian investor. All information provided on Silblawfirm.com (hereinafter "website") is provided for informational purposes only, and is not intended to be used for legal advice. Users of this website should not take any actions or refrain from taking any actions based upon content or information on this website. Users of this site should contact a licensed Texas attorney for a full and complete review of their legal issues. First, avoid realtors at all costs. In my experience -which is considerable - most realtors are businesspeople first, which means they want a sale. They are not professionals at assessing the value of a property, they usually will recite what the disclosure says and move on to promoting the positive features in the property. You will want an assessment anyways and banks require them and often pay for it when financing you. When selling the property do it yourself. It will save you tons of money in commissions and you have access to the same marketing techniques as a realtor. Besides more and more people do their own legwork when looking for a property. I have never had any issues finding prospective buyers. Great comment. Thanks for sharing! December 18, 2013 at 7:34 pm March 2016 What is the best way to find real estate wholesalers in Newark, NJ? Calendar Awesome article/resource Brandon! April 2014 El Paso, TX (1) September 27, 2013 at 10:49 am FREE 2-Hour Delivery In order to find a great short term rental property to invest in, focus your search in areas with high demand for short term rentals. This means cities like New York and San Francisco, college towns, or areas popular with vacationers. Sign up Now and get our guide on Video Marketing for Real Estate Professionals for Free Save $12.00 (48%) Also for more information on how to buy the best rentals which will make the most money, check out my book: Build a Rental Property Empire: The no-nonsense book on finding deals, financing the right way, and managing wisely. The book is 374 pages long, comes in paperback or as an eBook and is an Amazon best seller. Name * void in terms of website hosting was worried. Google did offer choices like Google Sites, In the event the property is being rented and their is a long term lease (not month to month), you will need to make a concession to the tenant to make sure they cooperated with the transfer of ownership. This is what I mean by that statement; In most states the lease agreement transfers with the ownership, so if you purchase a property and the tenant have 7 months left on the lease then you have to honor that lease. To avoid this we offer the tenants a cash for keys (CFK) agreement. This is a one page agreement stating that the buyer will offer the tenant money to vacate the property. This is basically offering to pay for the tenants moving expenses. This is negotiable it can be what ever amount you agree upon. Again this is between the new buyer (wholesaler) and the tenant. We inform the seller what we will offer the tenant but this agreement will need to be signed by the legal tenant and the wholesaler. January 20, 2014 at 8:39 PM F T G + Also for more information on how to buy the best rentals which will make the most money, check out my book: Build a Rental Property Empire: The no-nonsense book on finding deals, financing the right way, and managing wisely. The book is 374 pages long, comes in paperback or as an eBook and is an Amazon best seller. Novice here! Thanks for the amazing instructions. Just one question. Books With Free I liked the article but There was one investment type i didn’t see included. This is going to be depending upon a number of different factors: Upload Your Resume Sign In Keep at it! OK. So rehabbing and financing the sale of used mobile homes isn’t glamorous. You didn’t ask for glamour. You asked for a way to make a lot of money quickly. How To Stay Positive In A Negative Situation Free Articles Awesome article and thank you for taking the time to write and share this valuable information. I was left with one clarifying question: You mentioned knowing the profit your end buyer ideally wants to make. Is it safe to assume as you are finding cash buyers for your list you are simply asking each one what their desired profit is on every deal or minimum expected profit before they would consider it worth their time? In my head I assumed more profit the better so I never thought before reading this article that a number was needed. I hope I’m not complicating a simple thing. If there is a link already established that expounds on veting buyers for your list and questions that should be asked please share. Thanks Brandon and the readers of my post. 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