Most Popular: January 2008 Archives
So many times I get the question "How do I get started wholesaling properties?"
OK, here is the answer. I will give you the actual first step. And the best thing about it is that you can start implementing it RIGHT NOW! No preparing stuff, no setup steps, no excuses - you are ready now!
Continue reading How To Get Started in Wholesale Real Estate.
As a real estate investor, I’ve done it, seen it, or heard it
all. The news is filled with doomsday predictions daily, and Real
Estate investors are bailing left and right. The good news is, there is
still money to be made in real estate, and with less and less real
estate investors in the market, there’s even better deals to be had,
and more money to be made than before.
Continue reading How to STILL Make Money in Real Estate.
The
number one question we're continuously asked by new investors is “how do
I get started investing in real estate without a bunch of money in the
bank?” It’s a legitimate question. Let’s face it, most people that
begin investing in real estate more than likely aren’t happy with their
current financial situation in life, and are looking for and expecting
more. Therefore, most of those people don’t have $10,000 - $40,000 in
the bank to spend on their first property. Even if you happen to have
excess money in the bank, maybe you don’t want to use it to acquire
your investment properties. Whatever the situation, investing in real
estate with no money down is a very important part of growing your real
estate empire.
Continue reading How to Buy Property With No Money Down.
There
are countless changes, upgrades, and updates that can be made to any
given property. What separates successful, long term real estate
investors from the rest is the ability to maximize their resources
(time and money), and in turn, their profits. This has become more
important due to the relatively thin profit margins available in
today’s real estate market compared the margins available over much of
the past decade. Thinner profit margins leave a much smaller margin of
error. In order to assure a much greater chance of success on a flip
property, it’s absolutely crucial to maximize every ounce of your
available resources for your flip project. No matter their timeline or
their bankroll, investors doing flips always have limited resources
because time equals money due to mounting carrying costs, and the more
money expended on renovation equals less available profit on the back
end. Therefore, it is crucial for each real estate investor to
understand how to maximize their profits from a flip project. So let’s
get started. You’ve followed the formula here and the tips and suggestions here, and you’ve identified a potential flip property. Now on to the planning stage.
Continue reading How to Maximize "Flip" Profits Through Smart Renovations.
I recently wrote an article elsewhere on the site discussing investment strategy as it relates to finding potential rental properties.
In that article I discussed the inverse relationship between rental
properties and renovation / “flip” projects, and I received a lot of
emails asking for elaboration on the subject. After clearing it with
our company’s other lead partner, I’ve decided to answer the call for
more elaboration, and describe in detail our company’s investment
strategy. While you’ve already learned elsewhere on this site how our
company evaluates “flip” properties
and rental properties (see link above), this is how we put it all
together. When I was starting out in real estate, one thing I looked
everywhere for was real world success stories, and how individuals and
investment companies got where they were. My thought was, if not
necessary, there’s no reason to re-invent the wheel. The problem is, a
majority of the time you can only find that type of information in
books, and I didn’t feel like having to pay for it. Secondarily, I’ve
always wondered, if you’re so good at real estate investing, why are
you writing books instead? But I digress. Here is our strategy, free of
charge, to the loyal readers of boozwatt.com:
Flipping
properties isn’t the same business as it used to be. Even as short as
two years ago, “lipstick” alterations (meaning cosmetic changes such as
paint and etc.) would yield massive returns. There’s no question that
the market has changed, however. Discussions about the changing real
estate market are on every news channel, every real estate website, and
even within these pages of boozwatt.com. Flipping properties has become
more of an art form now. It requires not only the transformation of a
formerly ugly property to something of uniformly appealing taste
(appealing to uniform taste is harder than it sounds), but also an
efficient maximization of renovation dollars. The reality of today’s
real estate market means that the margins on flipping properties is
smaller. A prudent investor must buy for a good price, spend
efficiently on the renovation, and then list below the market price in
order to sell quickly and avoid carrying costs, which can become
devastating the longer a home goes unsold.
Continue reading How to Find Potential "Flip" Properties.
