People that are new to flipping real estate for profit make a lot of costly mistakes and sometimes deals that could’ve been very profitable turnout being very expensive. One of the biggest mistakes that people make is taking too much time to get the job done. People that are needed to flipping real estate frequently go over schedule and over budget.

Time is money and the more time you take to get your project done the more money it’s going to cost you. Don’t be afraid to hire some help when it comes to getting the repairs done. Even if you are capable of doing all of the repairs yourself it will be well worth your while to hire some help. A lot of people think that they will save money by doing the job themselves. It’s true that if you do the work yourself you just have to pay for materials and if you hire a contractor you are paying for materials and labor. The problem is that it might take a small crew three days to do a job that would take you three weeks to complete by yourself. (more…)

If you invest in tax sale properties at the government held tax deed or tax lien auction, you’ll find that almost all the properties have one thing in common: none of them have a mortgage. The banks pay unpaid property taxes on homes that are mortgaged almost every time. Why is this?

The answer is simple: when the government forecloses on a property for unpaid property taxes, all liens and mortgages are wiped out. The buyer of the tax lien or tax deed, when they become the owner of the property, will have a free and clear title to the property. So if banks DON’T pay unpaid property taxes, then they will lose their ability to foreclose on the property and recoup their investment.

Also, frequently banks bundle property taxes into the monthly mortgage payment for homeowners. That way, as long as the mortgage is getting paid, the taxes are also getting paid, and if an owner gets behind on their mortgage, the mortgage company is still keeping the property current on its taxes and safe from government foreclosure.

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At many of my real estate seminars I am often asked the question “what does it take to become a successful real estate investor?” More specifically what are the intangibles that separate successful real estate investors from their less successful counterpart’s? If I had to boil it down to three components it would be knowledge, systems, and action.

Flipping Homes Intangible #1: Knowledge
Knowledge is power. This statement is paramount in its application to real estate investing. In the real estate game, the most knowledgeable players are always the most successful. Knowledgeable investors thrive on information and they are consistently seeking and finding resources to improve their knowledge base. The information they seek is specialized knowledge, the finer details you might say, within the niche in which they operate. If you do not continue to acquire knowledge at a rapid pace, you will fall behind the curve. To stay on the cutting edge in any field you must continually seek new information. With the ever changing real estate market, those who are educated will always be in a better position to succeed. (more…)

Buying foreclosed or tax delinquent homes is really quite simple. If you’re dealing with a bank foreclosed home, you can buy that property directly from the bank (usually via a real estate company). If you are interested in a government foreclosed tax delinquent property, in most cases you will bid at auction for the deed to the property, or a lien on the property.

In both cases, by the time the property is available for you to purchase, it should have a clean title. In the case of bank foreclosure, during the court process to settle the foreclosure, other lien holders would have to come forward in order to get anything out of the property. Any judgments left over would follow the previous owner, not the property. So if you’re buying a bank-owned property through a real estate agent, you don’t have to worry about anyone else having an interest in the property.

The same goes for a tax foreclosure. Tax deed sale wipes clean any mortgages, liens, or other interests in the property. If you are the winning bidder on a property, and you get a deed in your name to the property, then you are the free and clear owner and you don’t have to worry about any judgments or liens crawling out of the woodwork. (more…)

What is 1031 and how can you benefit from it? The stated number refers to the Section 1031 of the Revenue Code. It states that once a property owner sells his investment property, he can use the proceeds from the sale to purchase a similar or a like-kind property. In this case, the proceeds from the sale of the first investment property shall not be subjected to capital gains taxes. However, in order to take advantage of this, one has to follow certain rules.

The like-kind property

Among the rules that the homeowner should take note of is that the like-kind property has to be identified within forty-five (45) on the closing transaction of the first property. The like-kind property does not have to be exactly the same with the previous property. In fact, the IRS has provided a very broad meaning and interpretation of it. If you have sold an unimproved land, you do not have to purchase the same property to qualify for this. Just make sure that you purchase another investment property that meets the rule of the 1031 code. (more…)

Have you been wanting to buy a home but you were not able to because of the monetary situation you are in? This is a problem that many Americans have been facing in our recession. However, even though the situation may look bad, the government will still issue out 1 Trillion dollars in grant funding that can help Americans finally buy a new home!

Requirements are simple and the grants are wide open to all American citizens of 18 years of age or more. Also, you may apply for more than one grant at a time and there is no limit on the number of grants you are eligible to receive. (more…)

Creating videos couldn’t be easier with this great tool I am going to tell you about. All you will have to do is upload your digital photos, pick the music you want, add your keywords and you are ready to go. It is that simple. Animoto is very user friendly and within a few minutes you will have your first video up and going.

Here are a couple of ways I use this tool:

When I get a new listing, I take the photos and upload them to make a virtual tour. Now I can eliminate the monthly fees for video tours. Your video link can be used for your MLS, your websites and your blogs. Basically you can use the link to your video just like you did with the virtual tour subscription software. (more…)

Are you in need of financial help to for home repairs or perhaps are looking to secure a down payment for a new home? If so, the Obama government has many grant programs in place that can help you on your way, and it’s all free!

Here is only a sampling of the programs that are currently available from the US Government and available to all American citizens of age:

1. $2,000 to apply to your overdue mortgage.
2. $15,000 towards a down payment on a new home.
3. Up to $275,000 in grant funds to get into the real estate market. (more…)

Whether you seek to repair your existing home or purchase new it is refreshing to know that the Obama government now has grant programs in place that can lead to you acquiring that new property without the need for borrowing from your bank for a down payment.

President Obama has new programs in effect place to assist a number of Americans.

Here are just a few examples:

1. $10000 grant to go to a new roof.
2. $2,000 grant to pay down a past due mortgage.
3. $15,000 grant for a new home down payment. (more…)

If you look forward to own a new home in one of the most striking destinations of the world then your first preference should be Naples, Florida. The city of Naples is counted amongst the most picturesque destinations bordering Gulf of Mexico with pristine beaches. It is the city which is brimming with a lot of activities making is a best place to start with a new home. Homes in Naples, Florida give you access to the world’s most well known golf courses, boutiques, scores of shopping malls promising you the best stay with a lot of pleasure.

The Real Estate Market of Naples, Florida has been experiencing a tremendous growth in the recent years. According to the official reports, the real estate market has showed a considerable growth. When in 2006, the number of homes put on sale in all over Naples stood at 9,000 or so in the very next year the total figure almost doubled. This is what makes Naples popular as a buyer’s market wherein most common people can get his or her own choice of property. (more…)