Beware of ads that tell you, when you buy our informational product you can make thousands of dollars in the Real Estate business. Because, when you get there informational product you don’t get all the information you need to achieve this goal. You will have to buy more and more of their products to get the secrets of their ads claiming your success.
I bought into these very ads myself, and paid way too much money for this same information, which is mainly common knowledge. I’m going to help you right now with these so called real estate money making secrets, and here they are:
Buying a home with no money down: Negotiating the down payment with owner financed and for sale by owner Real Estate.
Common version of getting cash back when buying a home: After 2 years of mortgage payments you refinance the home.
Making money as a Real Estate investor: Flipping Real Estate= buy at low cost and renovate for resale (This also includes the common version of getting cash back when buying a home).
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Real estate Investing can be lucrative when done in a proper manner. Mind well if it is not done properly then it can be damaging in terms of money and time. The reason for failure when people are investing in real estate is having no idea about the magnitude of the project. Also the mismanagement in executing the deal before it really starts providing money is the cause of being unsuccessful in a real estate business.
Before you start to invest, its time to answer a few questions. Here they are
First – What credit rating do you have?
In order to have a loan from the bank, the number one point to keep in mind is to maintain good credit rating over an interval of time. This will give measure of their readiness to take a risk with new ventures of yours. (more…)
One of the worries, for an investor who is just getting started, is being able to answer the questions a motivated seller may have. The first few times I spoke with sellers I fumbled and stumbled to answer these questions. To be honest, the reason was that I wasn’t prepared enough. In the end it really comes down to practice. Talk to every seller that contacts you and practice answering their questions.
In my experience here are the 4 most common questions asked and how I might suggest you answer them…
Q: Are you a Realtor, how does this work?
A: No, I am not a agent or Realtor. I don’t try to sell the house for you, I buy your house myself. To put it another way, the differences between myself and a Realtor is if you list your home with them and a pipe bursts or your roof leaks…You pay for it! If something goes wrong with the house while you have it listed, or during inspection…You Pay For It! If the Realtor finally sells the house…You Pay them their commission ontop of everything you’ve spent so far. (more…)
If you’re hoping to get a great deal on an investment property or a home to live in yourself, you should definitely consider purchasing a home for back taxes. There are a few ways you can go about doing this. The first (and most obvious) way is to purchase a property at government tax lien or tax deed sale.
When a property’s taxes have gone unpaid for long enough, the government, usually at the county level, will sell the property at tax deed or lien auction. At a tax deed auction, the actual deed to the property is sold to the highest bidder. In some states, you take possession right away; however, in most states, the owner has at least a year to come forward and pay the taxes off after the deed is sold. If they don’t, then after that time period is up, you will be the new deed holder.
At a tax lien auction, you will be bidding on a lien against the property. In this case, like with tax deed auctions, the owner will have a period of time (usually between six months and five years) to come forward and redeem their property. If they don’t, then once that period of time is up, you will be able to apply for the deed to the property and foreclose.
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The real estate business involves generating profit by buying, holding and selling of real estate. More specifically, real estate investing involves using cash inflows to invest in property that is likely to generate future cash outflow and a favorable return on investment (ROI).
Real estate has certain advantages over stock. Property can be leveraged to yield a higher rate of return than shares and similar investments. Property also has the potential of generating residual returns in the form of rental and lease income. Property is a type of investment that will assure long-term growth. The property market is not usually subject to the wide variations or corrections of the stock market. It is a better insurance against inflation than stocks and shares. Owning a property provides other intangible benefits such as sense of security and a pride in ownership. (more…)
