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Musings on the ?Cash Is King? Mentality
2011-12-06 14:08:00
I had a call last week from a buyer?s agent who was frustrated because the bank did not accept her buyer?s (very low) cash offer on a short sale. In fact, the bank did not even make a counter offer. The bank employee made it clear that the offer was significantly below the BPO value, ...This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved. Musings on the ?Cash Is King ? Mentality

Are You a Slacker or A Finisher?
2011-12-05 18:30:00
At this time of year, a lot of folks are thinking that the year is almost over and it?s time to kick back and take it easy for the next month. But there is another whole segment of entrepreneurs that are steadfastly racing toward the finish line; they are laser focused on completing their 2011 ...This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved. Are You a Slacker or A Finisher?

Three Warren Buffett Quotes that I follow in my Real Estate Business
2011-12-05 14:20:00
No one can argue the fact that Warren Buffett is a great investor.  His track record over multiple decades is just too good to be ignored.  As you know, he prefers to purchase companies or stock in companies.  Nonetheless I look to leverage greatness any where I can in my business. I found the following ...This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved. Three Warren Buffett Quotes that I follow in my Real Estate Business
More About: Real Estate

Look Both Ways Before You Walk
2011-12-05 12:00:00
So many people have walked away from homes that are hopelessly underwater. With little prospect of recouping their losses, or faced with a difficult personal financial situation, they have made a decision to let the bank foreclose. Prior to 2007 this would have resulted in an income tax liability on the amount of any forgiven ...This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved. Look Both Ways Before You Walk
More About: Real Estate , Foreclosures , Real Estate Investing

Self-Help Evictions: What You Should NEVER Do as a Landlord
2011-12-04 18:15:00
Now, I have to admit that there have been several times where having the ability to “help” myself to an eviction, especially while using a forklift, might have crossed my mind, but better judgement seemed to always prevail. The first question that should be crossing your mind is: “Is this even possible”? The short answer ...This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved. Self-Help Evictions: What You Should NEVER Do as a Landlord

Evicting Your Tenants without Using a Forklift
2011-12-04 15:44:00
I recently came across a headline which read, ?Man Charged With Attempted Murder in Forklift Attack.? Apparently, the guy was a landlord who had some tenants in a mobile home who weren?t paying rent. He tried to get them to leave the home but they refused. That?s when he drove a forklift into the home ...This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved. Evicting Your Tenants without Using a Forklift

Real Estate News by the Numbers: Week of November 26 ? December 2
2011-12-03 15:10:00
A quick rundown of the important real estate news from the week of November 26 ? December 2, by the numbers: 8.6% – U.S. unemployment rate for November 2011. The rate is the lowest since March 2009 and a significant drop off from last month’s 9.0% rate. The U.S. economy also added 120,000 jobs, more than ...This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved. Real Estate News by the Numbers : Week of November 26 ? December 2
More About: Real Estate

The Harder you Work the Better Business Gets
2011-12-02 23:17:00
Over the last 90 days my posts have been primarily focused on helping new investors and discussing topics pertinent to successful real estate investing.  I have thoroughly enjoyed the experience and all the feedback.  One of my personal goals for contributing to this great site was to discuss real life deals.  Like a lot of ...This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved. The Harder you Work the Better Business Gets
More About: Real Estate Investing

Mortgage Notes ? Dealing with other loans
2011-12-02 15:30:00
If you still owe money on a property and want to sell it using owner financing (creating a mortgage note), would you later be able to sell that note?  The short answer is ? yes, usually. Let?s say that you own a house worth $100,000 that you?re currently renting out, and you owe $40,000 to ...This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved. Mortgage Notes ? Dealing with other loans
More About: Loans

The 4 Big Fix and Flip Mistakes
2011-12-01 19:10:00
Last week, I walked into Chipotle and ordered to-go lunches for me and my wife.  After waiting in line, placing my order, waiting in line some more, and finally paying, I left – without my burritos.  Before I could make it out the door the guy at the register hollered out SIR, YOUR FOOD! Boy ...This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved. The 4 Big Fix and Flip Mistakes

Spoof: What It?s Like to be a Realtor
2011-12-01 18:15:00
I got a kick out of watching this video recently. It?s a nice little spoof on what every agent at one time or another has probably felt. Yet, I think there is something in this that can speak to everyone, whether you are an investor, broker, mortgage professional, or attorney. I?ve said it before and ...This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved. Spoof : What It’s Like to be a Realtor

Pricing Your Seller Financed Property
2011-12-01 15:31:00
I am often asked about pricing a property for resale if the seller is willing to offer financing terms. The capitalist answer is: Sell for any price that is agreed upon between the buyer and seller. While that sounds quite cut and dry, in this current economic climate, it is inaccurate.  This brings us to ...This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved. Pricing Your Seller Financed Property
More About: Real Estate Investing

Why Real Estate Investors Pay More for Investments with Lower Returns
2011-11-30 19:05:00
Real estate investors often chase the highest initial returns possible in an investment property, only looking at the financial statements for their underwriting and financial projections. These investors often fail to account for the many additional factors that should be considered when purchasing an investment property. Failing to consider these critical aspects will affect the expected ...This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved. Why Real Estate Investors Pay More for Investments with Lower Returns
More About: Real Estate , Real Estate Investing , Real

3 Things I Look For In a Lender
2011-11-30 15:02:00
There are many lenders around the country who have the ability to underwrite loans for investors. However, I have found that most lenders who attempt investment loans get tripped up along the way and are unable to close these loans.  Having coordinated hundreds of loans over the last several years, I have learned how to ...This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved. 3 Things I Look For In a Lender

Turn-Key Real Estate ? Who Should and Should Not Buy Turn-Key Properties
2011-11-29 19:01:00
Turn-Key real estate investing seems to have exploded in popularity over the last few years.  With new websites and marketing ads announcing new companies on a weekly basis, turn-key companies seem to be sprouting up in every city and offering services in every corner of the country.  In a recent international real estate publication, over ...This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved. Turn-Key Real Estate – Who Should and Should Not Buy Turn-Key Properties
More About: Real Estate , Real Estate Investing

Investors: Lower Your Taxes ? Here?s How
2011-11-29 16:11:00
We’re in the back stretch of 2011, which bodes well for folks contemplating some tax related moves. Here are some suggestions you may want to put into your own arsenal. Though basic in nature, I’ve learned most tax preparers definitely aren’t proactive in digging for tax savings beyond the normal deductions. You’ll notice a common ...This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved. Investors: Lower Your Taxes – Here’s How

Can I Buy this Short Sale?
2011-11-29 04:46:00
I received an email over the long weekend from an agent who had a short sale question. It seems that his sister needed to sell her home as a short sale. He wanted to buy it, and he wanted to represent both sides in the transaction (remember that California allows dual representation). All I could ...This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved. Can I Buy this Short Sale ?

How to Make Sure You Have a Qualified Home Inspector
2011-11-28 14:27:00
Real estate investors have always found it challenging when it comes to working with home inspectors. A rehabber does what he considers a ?bang up job? only to have the buyer present him with a list of things they want repaired. Having been in the home inspection business for 17 years, I am the first ...This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved. How to Make Sure You Have a Qualified Home Inspector

Tips for Negotiating with Motivated Landlord Sellers
2011-11-27 14:29:00
If you want to be successful in the real estate business you need to have several niches. These niches include the types of deals you specialize in — whether they be a subject-to, lease option or wholesale. It also includes the types of sellers you target such as pre-foreclosures, landlords, and probates, to name a ...This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved. Tips for Negotiating with Motivated Landlord Sellers

Real Estate News by the Numbers: Week of November 19 ? November 25
2011-11-26 14:45:00
A quick rundown of the important real estate news from the week of November 19 ? November 25, by the numbers: 4.97 Million – Existing homes sold in October on a seasonally adjusted annualized basis. The number of sales is in October up 70,000 from September. 3.3 Million – Number of homes listed in October on ...This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved. Real Estate News by the Numbers : Week of November 19 ? November 25
More About: Real Estate

The 4 Pillars of Highly Effective Squeeze Pages
2011-11-25 14:45:00
Recently, you may have stumbled across our article on creating the ideal Craigslist ad for your real estate marketing efforts. In this tutorial, we reviewed some of the crucial elements needed in order to produce high quality copy that will entice your audience to visit your specific landing pages. Yet, there are still many professionals ...This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved. The 4 Pillars of Highly Effective Squeeze Pages

Do More Deals: How Writing Offers is Like Dating
2011-11-24 14:45:00
My friends call him ?The Devil? but his real name is Sam.  He earned the nickname because of his outrageous behavior. Now don?t get me wrong.  Sam isn?t a mean person.  He?s actually a very nice guy.  It?s just that when he?s around bad things happen.  At my bachelor party in Las Vegas Sam somehow ...This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved. Do More Deals: How Writing Offers is Like Dating

Develop a Long-Term Strategy Before Deciding Where To Invest
2011-11-23 15:20:00
?Buy and hold? real estate investing has been promoted for years by people like Carlton Sheets or Ron Legrand  for good reason. Invest ing in real estate is a phenomenal way to build wealth and income. Before I began my investing career, I listened to as much of this educational material as I could get my ...This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved. Develop a Long -Term Strategy Before Deciding Where To Invest

Deferred Maintenance ? A Slient Cash Flow Killer
2011-11-22 16:09:00
Deferred Maintenance – the practice of postponing maintenance activities such as repairs on both real property  and personal property in order to save costs, meet budget funding levels, or realign available budget monies. That is the definition of deferred maintenance according to Wikipedia.  My definition, as it relates to income producing investment properties, would be ...This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved. Deferred Maintenance – A Slient Cash Flow Killer
More About: Real Estate Investing

Short Sales ? The Clock Is Ticking
2011-11-22 14:14:00
Equity investors and folks buying short sales are often involved in a waiting game?only to learn at the end that the bank is not interested in their offer because their offer price is too low. But there are other factors that can impact the closing of a short sale at the eleventh hour that have ...This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved. Short Sales ? The Clock Is Ticking

Everyone can WIN with Self-Directed IRA Investing
2011-11-21 17:28:00
As I have shared in my previous articles, our investing model is based on recycling our investment capital over multiple deals.  In short we buy a distressed asset with cash, repair the property and then after finding a renter we secure a passive investor to replenish our capital.  Our goal is to recycle at least ...This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved. Everyone can WIN with Self-Directed IRA Investing

Why Should Your Work with Real Estate Wholesalers?
2011-11-21 14:45:00
A forum discussion that I came across about working with wholesalers recently caught my eye. This person was saying something to the effect that they wanted to go around the wholesaler and work directly with the seller. I can tell you that doing that with the wholesalers I know, would guarantee that you would be ...This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved. Why Should Your Work with Real Estate Wholesalers?
More About: Real Estate

All I Want for Christmas is a New Investment Property
2011-11-20 14:18:00
Why the End of the Year Can Bring You the Best Investment Property Deals & How You Can Prepare With the holiday season quickly approaching, chances are you?ve started gathering Christmas lists from your children.  In order to get the best deal on gifts, you are in full of anticipation of the holiday sales ahead. After ...This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved. All I Want for Christmas is a New Investment Property

Are You A Real Estate Rehab Investor With Too Much Cash?
2011-11-19 17:02:00
As a real estate investor you know that you can never have too much cash. What if I could present an argument to the contrary.  An argument that demonstrates that real estate investors, especially new investors who have ready access to cash, almost always earn fewer profits then an investor who is not so cash rich. ...This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved. Are You A Real Estate Rehab Investor With Too Much Cash?
More About: Commentary , Real Estate

Real Estate News by the Numbers: Week of November 12 ? November 18
2011-11-19 15:39:00
A quick rundown of the important real estate news from the week of November 12 ? November 18, by the numbers: $729,750 – Maximum mortgage amount that can now be backed by the Federal Housing Administration. Congress voted to increase the limit from $625,500. 95% – Amount of metro areas, out of 384 that will see ...This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved. Real Estate News by the Numbers : Week of November 12 ? November 18
More About: Real Estate