How A Real Estate Investing Course Can Help You
By Andrew Vaughey | August 18, 2008
Author: Gerald Mason
Most people who want to be successful in real estate investing realize that some kind of education on the subject is necessary. This will help give more knowledge and improve your confidence.
Taking a real estate investing course is the best way to get the education you need to be successful in real estate investing. Of course, you can always learn through trial and error, but most people don’t have the time or money to waste in this method.
When you take a real estate investing course, you want to get as much as you can from it. How much you get out of the real estate investing course will determine your success in real estate investing. Ultimately, it will determine your life.
Before the start of the real estate investing course, you should read over all the materials for the course. This includes the syllabus and suggested readings. In most cases, the course instructors jump right in.
It will be important for you to be up to speed on all the real estate investing course pre-requisites so you have full understanding of what is going on in the course. If you fall behind early in the real estate investing course, you may never catch up.
Be sure that you purchase any textbooks or materials prior to the real estate investing course. Most students find that when they purchase these materials up front, they are better prepared for success in the real estate investing course.
It would be unfortunate to have the instructor focus on something from the textbook and you not have it. The best practice is to purchase all necessary materials before the course begins.
Use the real estate investing course as an opportunity to network with your classmates and even your instructor. You never know who can be a resource for you later in your investing endeavors. Even before that, these people can help you throughout the real estate investing course.
If there are areas of the course that you do not understand, your classmates and instructor are the best people to go to for help.
If you have homework as part of your course, make sure you do it as you go along. Procrastinating on the work only causes you to stress out later on. To keep yourself from feeling overwhelmed, you it is best to keep up with assignments as they are given to you. Not only does this help with your grade, it will also help in preparation for the exam.
Always prepare for exams at least a week in advance. This is true whether you are attending the real estate investing course in person or if you are taking it online. Preparing for the test ensures a better grade. Avoiding cramming as much as necessary. When you cram for an exam, you don’t retain the information as well as if you prepare well in advance.
Since real estate investing is a subject for which your retention of the subject really counts, preparation for exams should be a priority for you.
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Real Estate Investing Seminar Tips
By Andrew Vaughey | August 15, 2008
Author: Brad Wozny
Many people are trying their luck at real estate investing, and although many are wildly successful many more are not. The truth is there is very little luck involved in real estate investing; the best way to be successful is to arm yourself with knowledge about the type of investing you want to do as well as knowledge about the market in which you are planning to invest. There are countless ways to get the information you need to be successful in your real estate investing endeavors including books, websites, and real estate investing seminars. All of these methods will give you information, but the best way is to learn about real estate investing from someone who has already found success and can teach you the methods they used to profit in the business through a real estate investing seminar.
A real estate investing seminar held by a successful and experienced real estate investor will give you the best chances of success. Learning form a professional is often a more effective way to educate yourself than independent study because you are benefiting from the experience, tips, and advice in a one on one fashion of a professional. One of the best ways to be successful in any field is to model yourself and your business practices off of someone who is already successful in your field of interest. Taking a real estate investing seminar will allow you to learn successful business practices that have already been tried and tested for success. There are many real estate investing seminars out there, and not all are of the same quality. Make sure the real estate investing seminar you choose is run by someone who is already successful and has the track record to prove it.
There are lots of companies that run real estate investing seminars in hopes of generating an income off of the seminar but they do not have the experience or expertise to pass on to you to make you successful. If you are looking for a real estate investing seminar it is best to ask around for recommendations from anyone you know who has an interest in real estate investing to see if they can recommend a real estate investing seminar that they benefited from.
If you don’t personally know anyone in the real estate investing business some quick research online will give you thousands of real estate investing seminar choices. You should then search based on the individual real estate investing seminar or the presenter’s name to find out what past participants have to say about the program and the success it brought to them. Never sign up for a real estate investing seminar that is mainly about selling you additional resources or subscribing to services. The real estate investing seminars that will help you the most are ones that offer real insight, information, tips, and advice about real estate investing without trying to sell your additional things. Making a profit from real estate investing is not easy but with the right knowledge from a quality real estate investing seminar the potential for great profit is there.
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Must Have Real Estate Principles For New Real Estate Investors
By Andrew Vaughey | July 28, 2008
Author: Chris Parks
It is important for Real Estate Investors to have an understanding of some of the basics of real estate so you can be a more-informed investor.
In real estate, there are two categories of property, real and personal. Real property is defined as the land and whatever is attached to it, known as improvements. Personal property is everything that is not attached to land or buildings. This is often known as chattel.
A fixture is an item of personal property that has been converted to real property by permanently attaching it. Two examples include chandeliers and cabinets. When they were at the store, they were personal property. Once they are attached to the property, they become real property.
A listing agreement and an agreement of sale specify what is considered as a fixture. If you are purchasing a property, you should carefully inspect this clause to see what you are getting and what you are not getting.
When you purchase real property, you get what are known as a “bundle of rights”. These are the rights of ownership. They include the right to occupy, to use, to allow others to use, to rent, to restrict, to construct buildings, to keep others off, to leave and abandon, to convey ownership and to encumber.
A freehold estate refers to an ownership interest in property for an undetermined period of time. It is a form of ownership that you get when you purchase a property. There are various types of freehold estates, with the most preferred type being called fee simple. It is the highest and most complete form of ownership possible. It gives you the full bundle of rights, including the right to pass your ownership interest on to your heirs when you die.
There are different forms of taking ownership to a property, and it is a good idea to understand each one and what it means. They are severalty, tenancy by the entirety, joint tenancy and tenancy in common.
Ownership of real property can also be held in a trust. A trust is a legal instrument that is used to protect family ownership interests. A trust has three parties, a trustor, a trustee and a beneficiary. The trustor conveys ownership of the property into the trust, which is then held by the trustee. Based on some event according to the terms of the trust the property is eventually conveyed to the beneficiary.
Title is the right of ownership of property. There are five basic kinds of title - naked possession, color of title, right of possession, good title and complete good title. The purchase of title insurance will insure a “good” title. A title company, or abstract company, will do a complete title search to discover if there are any “clouds on the title”.
A deed is a written document that conveys title of real property to an owner. The person who gives or grants the deed is called the grantor. The person who receives the deed is the grantee.
There is a difference between title and deed. Title is the right of ownership of property. A deed is a written document that conveys title to the property. Title is a right. A deed is a document. The two most basic types of deeds are the quitclaim deed and the warranty deed.
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8 Simple Rules For Buy-To-Let Investors
By Andrew Vaughey | July 19, 2008
Author: Parmdeep Vadesha
Buy-to-let is an easy and profitable long-term investment. However, it comes with no guarantees. While rewards are great, there are also financial pitfalls that should be avoided. If you plan to start off your property investment with buy-to-let properties, it will take a healthy dose of common sense, a risk-taking attitude and these eight simple buy-to-let rules:
1. Do your homework. First and foremost, ask yourself if buy-to-let is really the kind of investment you want. Know the risks and the benefits by reading up on related literature and more importantly, by asking investors already in the business about their experiences and advice.
2. Location, location, location. As with everything in the property market, location is critical. Choose a promising area, which means a place where people would most want to reside in for a variety of reasons. Factors to watch out for are accessibility to good transport, schools, hospitals, and other residential areas. Also, consider the appeal of the town and the neighborhood.
3. Shop around. As they say in property, fall in love with the deal and not with the property. Don’t let your own personal taste cloud your judgment in choosing the property. If you plan to finance your investment by putting up a mortgage, consider the offers of financial institutions other than the traditional bank.
4. Pencil-push. Once you have decided on the property, write down the cost of the house and your projected rental income. Once you have this figured out, ask yourself: Will the investment work out? Can you afford the mortgage payments if the property will remain vacant for a few months? All these issues factor in when deciding rental price and terms.
5. Put yourself in your potential tenant’s shoes. It does not necessarily follow that if you would want to live in a particular property, your potential tenant would feel the same. Similarly, do not discount a property just because you cannot imagine yourself living there. Moreover, think about your target tenants, their needs and preferences. For example, students would prefer a house that is cozy, comfortable, easy to clean and within their budget. Young professionals generally like modern and stylish spaces, nothing overbearing and opulent. If your target tenants are young families, they generally prefer wide, blank spaces since they have plenty of belongings and very specific needs.
6. Don’t put all your eggs in one basket. We have all come across stories of buy-to-let millionaires with huge property portfolios and even bigger vacant and un-rented properties. Don’t be overly ambitious and build your buy-to-let portfolio surely. Invest for sustainable income and not short-term capital growth. Over time, use rental income as a deposit for future investments.
7. Widen your horizon. Though you most probably know your town inside out, investing in a property near your residence is not always a good idea. However, an obvious advantage of having your properties close by is that you are able to keep an eye on it. It is far more important to look for properties with good commuting links as an accessible transport system is very important for families and students.
8. Hope for the best and expect the worst. As with all investments, be sure to carefully weigh the positive and negative aspects before jumping in. Though house prices are relatively stable, they could depreciate. Furthermore, not all properties are rented out easily. Even in prime and popular areas, properties could remain vacant for a few months. Devise a back-up plan if ever this situation occurs. Also, make sure that you are financially able to conduct major and minor repairs needed on the property.
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Renting To Buying: How First Time Homeowners Can Maintain A Real Estate Investment
By Andrew Vaughey | July 18, 2008
Author: J Harris
Taking the leap from renting real estate to buying a home is a lot like making the move from dating to getting married. The time, quality, and financial commitment increase ten-fold. First-time homebuyers are often shocked at the amount of time, energy, and money that goes into maintaining their first real estate investment.
So if you are making your first real estate purchase, you need to know this; buying and renting real estate are completely different experiences. You need to know what sort of routine home maintenance you will need to do, and how it will affect the value and condition of your home. Renting is a little like living at home with your parents. Tasks are taken care of for you. You might not even know that they exist. But a real estate home investment demands your attention. Or you will end up spending a lot of time and money on damage and repairs.
Structural Integrity of Your Real Estate Home Investment
Some basic maintenance tasks you will inherit as a homeowner include; cleaning out gutters, keeping the roof in good shape, yard care, and preventing mildew, mold, and rot. All these tasks will preserve the structural integrity of your new home. For instance, keep grass cut low near your house to prevent wood damaging insects, like termites, from being attracted to your real estate property. Regularly cleaned gutters prevent huge water damage. And basic trimming of trees can stop wild branches from crashing into your house in a storm. While your landlord may have handled these issues before- they are all yours once you purchase your home.
Safety Concerns of Real Estate Homeowners
Monthly checks on smoke alarms, fire detectors, and extinguishers are imperative to a homeowner. Your entire real estate investment, or worse your loved ones, are at risk if you forget to replace the batteries in that fire detector. Other safety factors include vacuuming air vents, cleaning out the clothes dryer hose and vent, and insuring that all appliances are in good working order. Faulty appliances cause water damage, fires, and loss of personal possessions, lives, and real estate investments each year.
According the University of North Carolina’s Injury Prevention Research Center, about 15,000 people are injured every year in fires caused by clothes dryers. So empty that lint trap and don’t leave it running when you’re not home.
Money and Health Concerns of Real Estate Homeowners
Your other jobs as a homeowner may include adding salt to a tank to soften your water, or learning the specifics of your well, septic system or sump pump. You will need to know where fuse boxes and circuit breakers are and how to access them. And you will want to pay attention to things like caulking, weather stripping and your heating and cooling units. Regular maintenance of these items will save you thousands of dollars in energy bills, damage, repairs and replacements. Real estate is considered an investment of both time and money. A proactive approach to home maintenance will insure that your real estate investment pays off, rather than costs you dearly.
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4 Mistakes Newbie Real Estate Investors Make
By Andrew Vaughey | July 13, 2008
Author: Jamel Gibbs
Real estate investing can be a very lucrative business. There is a lot of opportunity for newbie investors. The real estate business really is what you make it. If you know what you’re doing, then the business can be profitable. But there are some things newbie investors need to be aware of. In this article I will explain 4 mistakes newbie real estate investors make.
Pricing: One mistake that a lot of newbie investors make is paying too much for an investment. There are several newbie investors that don’t know how to buy property at the right price, and this is where you can hurt your business rather than help your business. Once you know how to buy real estate at the right price, your business will take off.
No Team: A lot of new investors want to do everything on their own because they think they will be loosing out on money. This is a big mistake because there is no way anyone can do everything on their own. If you don’t have a team then you will drive yourself insane. The best thing to do is build a strong group of professionals that will mimic your business system. This is part of your foundation. If you try to build a building with a weak foundation it will collapse. This is also true with your business.
Procrastination: This one is a little understandable. New real estate investors tend to procrastinate when getting started. The reason for this is the fear of the unknown. Since they lack knowledge in the real estate business they tend to make themselves more scared then they need to be. If you can just get out there and make things happen, procrastination will not be an issue.
Education: If you have read any of my other articles then you would know that I’m big on education. Not just any education though. You need to educate yourself in what you are looking to do in life. A lot of newbie investors get involved in real estate investing without ever taking the time to learn about the field. By doing so, they are hurting themselves, and it will cost them a lot of money. Therefore, spend the money on learning and you will put more money in your pocket.
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How To Get The Most Out Of Your Preconstruction Investments
By Andrew Vaughey | July 13, 2008
Author: Kris Koonar
Preconstruction investments are a great way to make your entry into the real estate market. So many investors are finding that it is getting more and more difficult to make these investments because of the various restrictions that the developers are now placing. No matter what the project, whether a townhouse, family home or beach condo, these restrictions are finding their way in to add to an investor’s worry. And to add to all this, the prices are continuing to rise. So how is it that an individual selects the right project to make his investment and at the same time ensures that the investment is favourable?
The first thing that you must realise is that the developer will already have a marketing team in place. Their main aim is to create awareness as well as have a list of investors who are interested in investing. So as an individual when you walk in to the developer’s office trying to cut a bargain, they are in no way obliged to give you the discount you are asking for. However, if you are a group of professionals who approach the developer and persuade him to offer you a discount, you must also have something to offer in return for the discount they offer you. They must be assured that you are really interested in the project as there is strength in numbers. They will also be more likely to offer you a discount if they have limited time to complete their project.
Even if the developer does not offer you or your group a discount, you will be likely to enjoy other benefits as an investor. The developer will help your group by assuring 15 units in the project to each. This is also a difficult task as many developers have very rigid rules regarding whom to sell. The developer may give the group first preference in another upcoming project or another phase of the same project. A wise developer will know that they must treat a group of investors nicely, as they could be interested in other projects as well.
The power of a group when making preconstruction investments is often misunderstood. A developer will always take notice when there are a number of interested investors as compared to one investor who is making a bargain. When a group is present they are also more likely to offer you discounts or other perks or benefits that will help your preconstruction investment in the future. Now a group of investors is not only beneficial to the investors, but also to the developer. They have a list of investors that are willing to be part of the project saving them both time and effort in finding investors, if not for this project then surely for the next.
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Finding Money To Invest In Real Estate - Tips For A Changed Credit Market
By Andrew Vaughey | July 7, 2008
Author: James Orr
In case you have not noticed, the real estate investing market has changed. Over the past few years we have seen an amazing opportunity for investors to access almost an endless supply of cheap, easy to qualify for money. That’s changed recently.
With a record number of banks and lenders feeling the crunch of an increase in foreclosures, one of the first things that changed is the money for real estate investments.
Still many investors are trying to find money to purchase some of the amazing deals that are available now in this market and I am asked by my mentoring clients and people using our Analyzed Deals website to find deals how to find money to use in their investing.
Well, here are some tips.
First, there may still be loan programs for you that will allow you to get loans. What you need is a great (not just a good) resource for someone that can do loans in YOUR local market. Who typically has these types of contacts? A great local, investor friendly real estate agent or broker often has the lender contacts that know how to get loans done for investors.
If you request information about a deal on Analyzed Deals, we do put you in touch with the best real estate agent or broker that we know for investors in the area of the property. They almost always have some great resources for investors to get loans that is not made known to the general public. So, I would try there first.
Next, if you can not get financing through those channels there are some other creative techniques you can still use.
For example, when markets change from a seller’s market to a buyer’s market, buyers are in the drivers seat and can request concessions like owner financing for the down payment.
Another often overlooked method of investing is to partner with someone who can get loans. There are a lot of people that have great income, credit and desire but just don’t have the knowledge or time to actually get started investing. Advertise to find these folks and partner with them to get deals done with a combination of their and your resources to make it a true win-win deal.
In times like these, there are lots of ways to succeed as a real estate investor, but it sometimes takes some creative thinking and a deviation from the traditional methods.
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5 Hot Tips For Successful Real Estate Investment
By Andrew Vaughey | July 3, 2008
Author: Emil Emilov
The last downturn of the global stock market saw millions of ‘every day’ investors having their fingers badly burned. Overnight life savings were eaten away, retirement funds went into decline and the economic forecast for all of us who had any money invested in stocks and shares was gloomy to say the very least.
As a direct result investors in their thousands turned their backs on the rollercoaster stock markets and sought alternative asset classes in which to invest their hard earned money. This has led to a global boom in real estate markets and property prices, and it has spawned a generation of budding real estate investors.
For those of you wondering whether it’s too late to venture into real estate investing or considering how best to make the most significant returns from property investment, here are 5 hot tips for successful real estate investment to set you on the path to potential profits!
1) Consider Investment Property Abroad
There are many relatively untapped property markets in countries around the world that offer the real estate investor greater return on investment in the form of rental yields or short to medium term capital growth.
While major markets in the USA, UK, Australia and Europe are slowing down, there are emerging property markets globally that are hungry for investment and are proving to be highly profitable.
For example, in 2007 a number of countries are already aligned for accession into the European Union and as a result property markets in these countries are likely to benefit from greater numbers of visitors, more trade, increased investment into infrastructure and more stable economies. The likes of Hungary, Slovakia, Bulgaria, Croatia, Turkey and even Northern Cyprus are just a few examples of overseas destinations with emerging real estate markets that may be worthy of your consideration.
2) Make Sure Your Plans Are Profitable
This sounds ridiculously simple right? Well, you’d be surprised how few people actually make sure their plans are actually sustainable and as profitable as they hope.
Examine any real estate market that you’re about to enter by firstly comparing property values across the city, state or region and making sure you know what your money will buy you. Then ensure that the rental yield you intend to obtain from your property is actually realistic or that the asking price you intend to set once you’ve renovated the property will be offered.
3) Never Assume Anything
This goes from assuming a house is structurally sound to accepting that tax laws won’t change – from believing your tenants when they tell you that they are house proud and honest to accepting the first builder’s quotation!
Do your due diligence on every single aspect of the process from ensuring the asking price for a property is fair to checking your tax returns before your accountant submits them for you. This is your investment, your future, your potential profit and therefore it is ultimately your responsibility.
4) Employ An Expert When In Doubt
Few people are a master of all trades therefore be prepared to acknowledge areas where you are far from being an expert and at least consider courting a second opinion. Again, this goes from checking out the structural soundness of a property to understanding the legal ramifications of letting out your property. If in doubt always double check – and if this means you have to call in an expert, make sure you call in an expert!
5) Set A Realistic Budget And Stick To It
Whether you’re purchasing property to let out or buying real estate to renovate you need to sit down and add up every single area of projected expenditure to enable you to set a realistic budget with which to work.
Make sure you add in everything from having searches and surveys conducted, legal fees, accountancy fees, insurance costs, likely interest payments on any finance required, taxation, connection of utilities, marketing for tenants or buyers, real estate agency fees, and of course don’t forget to add on the cost of the property and the price of any renovation and refurnishing and decorating work required.
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How Real Estate Investors Can Kill Their Irrational Fear Of Making Offers
By Andrew Vaughey | July 1, 2008
Author: Mike Perl
One of the biggest obstacles to new investors whom getting into our business of “Buying and Selling properties for a fast profit” is making offers.
Making offers is not their only problem, but it is the biggest obstacle holding them back from making gobs and gobs of sexy money; the formula is simple, the more offers you make the more successful you will be.
Well, I’m confident that by the time you finish this article you will not feel that same level of anxiety when it comes to making your offers, similar to when walking out of a restaurant bathroom with toilet paper still stuck to your shoe.
The bottom line is if you cannot quickly and confidently dictate an offer to either a seller or their representative; your investing career will be as short as Paul Mcartney’s marriage to Heather Mills.
Let’s analyze the mindset of a Renegade Investor, who’s able to spew offers to sellers with their eyes closed and with the mindset that their doing the sellers a favor by simply making them an offer and giving the sellers their precious time…
1. First and foremost, YOU and I only want to make offers to motivated sellers, whom NEED to sell their home. If I’m making an offer to an idiot who wants top dollar, then I’m not following my own system and I didn’t screen the lead good enough, to weed out the time wasting sellers who want top dollar.
2. I also absolutely hate to waste my time, I’d rather be at the beach or playing golf, then have a seller attempt to sell me on why they believe their home is such a gem.
That’s why when I have taken the time out of my schedule to make a contact with the seller(s), I want to find out as quickly as possible how much their asking for their home and how flexible they are in their price point. This way, if their mindset is set on getting top dollar for their home, I’m not going to try to waste my time and try to sell them on the idea, that their a few sandwiches short of a whole picnic, because their not going to get top dollar in this market, and I can move on to bigger and better opportunities.
3. I’ll also share with you an idea that once I realized this one thing, exploded my business to the moon. (Please Write this down…Genius) As long as you’re buying the home at the right price, money is not an object or a problem at all, because hard money lenders will give you most or all the money to buy your deal. And if the lender won’t cover the entire sales price, (a lot of them want you to have a little bit of skin in the game, and therefore want you to at least come up with 5% of the sales price) assuming again that you have a great deal, there will be more than enough other investors who would love to participate in your deal by putting up the 5% as well as any other monies needed to close the deal, for a percentage of the profits.
4. Also, when talking to sellers you need to learn how to shut up and listen to them for their Hot Buttons. Hot buttons are similar to truth juice, because I’ll ask the sellers, “Why do you need to sell your home?” assuming again their not liars, their reason will tell me if there is motivation or no motivation. If they tell me, their spouse just lost his or her job and they need to downsize, bingo, now I know there is a level of motivation there for the sellers. You need to ask the right questions when talking to sellers, and then shut up and listen for their hot buttons that will tell you everything you need to know.
5. Last but not least, I do my homework. What do I mean by “do my homework”
What I mean is before I ever even start to make an offer to the seller(s), I do my research on the subject property, finding out what the property is truly worth. For example, before I ever even make an offer, I’ve already researched the comps (comparable sales in the area) on similar homes that have sold within the last 90 days. That way, I know the top dollar I can get for the property and then I work the numbers backwards.
Because I think this is so important for you to understand, let’s take a look at a real-life example, of a great deal I just bought, known as 735 Airoso Ave…
• House is worth $90,000.00 once I fix it up (Also known as ARV or After Repaired Value)
• To fix it up, I need to invest $7500.00, to bring it to sellable condition.
• Holding costs, closing costs, insurance and miscellaneous is another $5,000.00.
• Subtracting the $12,500.00($7500 + $5000 = $12,500) from the $90,000.00, gives me $87,500.00.
• I want to make $30,000.00 net profit on this deal, because I’m a renegade stud.
• That leaves me with a maximum offer of roughly $57,500.00
• So when I made my 1st offer to the sellers, I told them I needed to be in the low $40’s…
• They were so motivated to sell, in their situation; that we agreed to a sales price of $42,500.00.
• The seller didn’t live in the home, she bought it for her son as an investment, and he screwed it all up and the property was now starting to go into foreclosure… But then she called me, from my outrageous marketing and the rest is history, the Fat Lady has sung her song!
Now If you think I’m B.S.’ing you, I’m not, you can pull up this property in public records, simply look up “735 Airoso, Port Saint Lucie, FL On public records and you’ll see everything right there,
What can I say, when you’re good, you’re good! How many gurus will prove it to you, like yours truly…?
If you follow my recommendations on making offers, you should be able to make an offer to a seller with the same confidence I have, which is like being Tom Cruise at a single mom evening with the stars.
In closing, I’ll share a brilliant quote from one of my mentors, Dan Kennedy, the world’s best direct marketer and highest paid copywriter, commanding fees of $75,000.00 (plus royalties) to simply write you one sales letter, oh and by the way, that’s IF he’s willing to even take on your project, he has a waiting list of entrepreneurs begging him to write their sales letters and copy.
The only reason Dan is able to get almost six figures for his copy writing over other writers, is because when he quotes somebody his fee, he must be able to do it with a straight face, without even a flinch. And he’s admitted he’s not that much better than guys whom only charge $15,000 to $20,000 for the same service.
The same is true for you, as a buyer, you need to be able to make your offer without even a flinch. I suggest practicing and roll playing in front of the mirror making low-ball offers, and how you say it and your body language, as well.
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