April 12, 2010 at 4:52 pm Practice Areas RECENT ARTICLES All Articles Tandra D Freeman on April 9, 2018 10:29 pm Passive Income M.D. Now, Buyer B can purchase the property directly from the Seller as per the original terms of the Purchase Agreement. Yes $75k is arbitrary. Most people who read my blog are looking for better ways to invest or make money and are taking steps to change their lives. Most people will not do that, so I assume my readers are above average. And those who want to invest in real estate are usually above average as far as drive and income. Those who are average will stick to the status quo and never look into it. Who says you can’t save $7,500 a year making $50,000 a year? It really doesn’t matter. Many people can save much more and many less. One of the biggest issues in the US is people don’t save and that problem should be fixed before you invest in real estate anyway. Awesome post, Marcus! Just starting to market more with an aim of adding wholesaling to my current buy and hold and rehab business. Keep them coming! Think like a seller: One of the mistakes new wholesalers make is thinking that everyone that needs to sell is going to sell. Many sellers you speak with will be in distressed situations that they wish they could get out of. Even though they know selling is what’s best, they don’t always do it. How you talk to sellers is the single biggest thing that will get you more deals. Instead of pressuring them to sign a contract, you need to listen to their situation. Find out everything about their motivation, how they got there and where they will go after they sell. When meeting a motivated seller, you should listen much more than you talk. Have a script in place, but don’t sound scripted. Ask important questions, but listen to the answers. Your seller may not want to move for six months. They may have unrealistic demands to move out. If you ignore these facts, you will work for months without ever closing. Motivated sellers will work with investors that they trust. When meeting for the first time, don’t think like an investors, think like a seller. The Book on Negotiating Real Estate: Expert Strategies for Getting the Best Deals When Buying & Selling Investment Property Talking with motivated people in distressed situations The Course Investing in areas where appreciation rates are fast and high Cell: (678) 662-4719 Mark Ferguson July 18, 2016 So as I said, while your article sounds inspiring and the formula works for $100K homes, that’s just not a reality in the part of the world I live in. I can’t even get a foreclosure for less than $250K in most cases, and that’s for a crappy neighborhood. on fashion brands AbeBooks Indie Digital Publishing Fax: 817-231-7294 The Best Real Estate Crowdfunding Sites Most of the real estate agent become a buyer’s agent to make money. Such an agent works for the people who are planning to buy a house. A job of the agent is to take the clients to the sites where houses are available for sale and show several such properties. The agent will also write offers on houses for the buyers. The buyers of house are mostly dependent on the agent to take care of every aspect of the buying process until the transaction is complete. Josh – well, at least one of THE longest real estate investing article out there! 🙂 Thanks for the platform! Be great today, October 15, 2016 // 0 Comments Flipping Houses in any Market – The Ultimate Guide Make Money A cautionary note I’m so glad you enjoyed the article and took away some tips. I think it’s fine to start advertising for buyers, but I would focus on finding the properties first. Once you have the properties, you can advertise them and create a list of potential buyers who call about the properties. Then email those potential buyers your properties as you get them. Check with your real estate attorney about GA state laws though, since they do vary by state. Unfortunately, I don’t know any title companies or real estate attorneys in GA. I would ask other investors who they use and call some local Realtors and find the ones who specialize in investment properties, since they can often be a great place for title company and attorney referrals. Real estate has intrinsic value, like food or precious metals. People must live, work, and shop somewhere. Yet there is a limited supply of property. How limited depends on location. Manhattan has more people competing for space than Peoria, Illinois. Like all things, price is a reflection of supply and demand. In the world of real estate, if the demand for space outpaces the supply it results in appreciation of the asset. In other words, the value increases, even though there may not have been an overt change to the property physically or to its amount of cash flow. 3.) Water/Mineral/Oil/Gas Rights – The cousin of investing in raw land, this is the process of buying and selling a person’s (or company’s) right to use the minerals (or water, oil, gas, etc) on a property. Mentoring Learn to nail your After Repaired Value After repaired value is one of the hardest and most important skills as a real estate investor. If you miss this number you could lose a lot more[...] Popular The 1/10th Rule For Car Buying Everyone Must Follow (900) This is when Math comes in really handy. So lets talk about that. This cost is a little harder to predict when compared with vacancy and repairs. Assuming you are buying a good house in a good area of town, and your tenants are being screened properly this should not be an issue.  However, even the best screening process won't make a landlord immune to the occasional delinquent tenant. Things happen – so let’s budget for 2% of the gross rent ($18,000 x 2%) = $360 $5,000 general minimum investment (they have previously offered properties for a $1000 minimum investment) It is widely understood that a wholesaler may not engage in real estate brokerage without a license. As of January 2, 2016, Texas’ Occupation Code defines when a person is and is not engaged in real estate brokerage. Marketing for leads that cost less than the marketing does Ever want to flip houses? See why small apartment investing is actually easier and more profitable. This bestselling book is your step-by-step guide! Software & Services Open listing: In this type of agreement, sellers have the right to use as many brokers as they want. The seller is not, however, obligated to pay any of them if he or she sells the property without the broker’s help. How do you get your listings? Christina Shackleton on May 16, 2016 4:08 am Free Newsletter Reader Interactions Driving for Dollars is the practice of getting in your car and driving around looking for potential deals. Typically, your goal is to look for properties that are “distressed.” This could be indicated by long grass, boarded up windows, tarps on the roof, legal notices on the windows, or anything else that makes the home appear to be someone’s problem. For more on Driving for Dollars, see “Driving for Dollars Bible: Finding Distressed Properties and Marketing.” Jarom J. Bergeson Your Business Real Estate Investment Trusts (REIT) are great ways for you to invest in real estate without being actively involved. An REIT is a fund that is setup to invest in mortgage instruments, bonds, and stocks in the real estate niche. January 21, 2014 at 4:30 PM What are your thoughts on Dave Ramsey’s recommendation to only buy rental properties with 100% cash down? Overly conservative? Site Map What is the best way to obtain money for no money down real estate deals? 47.) Direct Mail – This old school method of finding leads still works today. Sending out a massive amount of letter, especially to your defined target market, is a great way to get calls and weed through deals. If I told my boss, “No, I don’t have enough recent server experience”, I wouldn’t be able to have helped them save well over $500k on server hosting costs YEARLY. Not to mention, the ability to do so much more. ( I am a licensed Realtor in AZ so I have to use the dept of real estate contract when doing deals at home,) Being A Landlord Tests My Faith In Humanity (247) wholesale real estate business model|real estate yard signs wholesale wholesale real estate business model|real techniques wholesale wholesale real estate business model|successful real estate wholesalers
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