Category Archives for Flipping/foreclosures
60 Days to Your First Bargain Purchase
Finding good real estate deals is an art that takes time to master. Like any business, customers are what drive it. Your primary customer is the seller who is motivated to sell below market value. Finding motivated sellers requires advertising, marketing, salesmanship, and, like any business, keeping your nose to the ground. Nothing happens and […]
Continue readingLegal and Illegal Flipping and Lender Seasoning
There has been a lot of negative press and misinformation lately about double–closings. Several people have been indicted recently under what the press has labeled “Property Flipping Scams.” Misinformed lenders, real estate agent, and title companies will tell you that double–closings are now illegal. In fact, they are nothing of the sort. A double closing […]
Continue readingHow to TRIPLE Your Success Rate on Foreclosure Deals! Part Two.
In Part One of this article, we talked about Tripling your success with foreclosures by offering to tell the seller about their options instead of trying to buy the property at first. Calling foreclosure leads, knocking doors, and mailing letters, but no success? That’s because your angle is all wrong. Instead of offering to BUY […]
Continue readingHow to TRIPLE Your Success Rate on Foreclosure Deals! Part One.
Calling foreclosure leads, knocking doors, and mailing letters, but no success? That’s because your angle is all wrong. Instead of offering to BUY the person’s house, try to gain trust and rapport with the seller. In other words, instead of coming on hard, try a “soft sell”. Offer to explain the process to the person […]
Continue reading5 Things You Should Know Before You Flip A Property
01. Money is made at the buy, not on the sale of your flip. – When flipping a house your money is made at the purchase, not at the sell of the house. So, many times people buy a house with the intentions of making a huge profit only to find out that they could not […]
Continue readingHas TV Changed Real Estate Investing?
If you take a look through the television stations on almost any given day there is a television show somewhere that features home improvement, real estate investing, or some sort of combination of the two. From shows that teach people how to sell homes that have lackluster reviews to shows that teach viewers that it […]
Continue readingHow to Choose an Area to Flip Properties
A Fix & Flip business could very well be your way out of the 9-5 day job. Not only does it hold the possibility of earning more, it also gives you a good opportunity to manage your own time, travel and meet new people. Plus, the extra money doesn’t hurt. Those that have become rich as […]
Continue readingThe Importance of Lien Waivers When Rehabbing Properties
An investor recently said to me, “I am nearing the end of a five-month rehab that was a nightmare. I never used partial lien waivers, but I still owe a big fat final check. Should I and could I get a final lien waiver”? I said “absolutely.” Many investors have said, “Well if I didn’t […]
Continue readingTime, Money, and Sweat – What Will Rehabbing That House REALLY Cost You?
It takes more than home improvement know-how to make the big bucks in rehab properties. In order to be a successful investor, you need to know what needs to be repaired – in addition to knowing how to do it. You also need to know how to work with others. Even if you fancy yourself […]
Continue readingThe Basics of Foreclosure “Short–Sales”
You will likely come across dozens of properties in foreclosure with little or no equity, that is, the seller owes at close to or more than the property is worth. In these situations, lenders are sometimes willing to accept less than the full amount due, commonly referred to a “short pay” or “short sale.” Negotiating […]
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