Archive for May, 2010

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Imagine what it would be like if you could get hundreds and Hundreds of Leads a Month. Motivated sellers calling every day wanting to give you their house. Real Estate Investing tip number 2 will knock your socks off.   Its All about Marketing for your real estate business.

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Now I would like to help your home selling experience as easy as humanely possible.  Home selling can be a struggle when you go at it alone.  If you are like most and try to go at it alone, you will first get in your car drive down to home Dept to pick up a FOR SALE sign, then deal with everyone asking you the question.  Oh ya selling  a home? huh.

Then you have to sit at your desk trying to write up a creative ad.  But then a though hits you? Arn’t there professional who’s job is to get my property sold for me?  Yes yes there are they are called realtors.   Then you remember back to stories from friends who had amazing success selling their home with a realtor and received a BIG check.

Professionals can help get your home sold quick, (you get money faster), for a higher price( you get more Money)   You are probably saying well ya I know that already, but how do I find a good one?

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Introducing your life changing real estate investing tips.   Imagine what it would be like if you where the most successful real estate investor in the world?  What would you do?  What is the name of your company?  Can you see how your life would play out?

I am going to be giving you tips that can jump start the life that you just pictured.   And as you absorb this information, you’ll want to watch every video and learn everything you can about real estate investing.

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Warning! Do you have a home your trying to sell?   Are you doing everything you can do get that home sold?  How do you know?  Your realtor is handling it?    If you answered yes to the questions then watch this video now, i guarantee it will get your home sold quicker.

Stop putting your money and future in the hands of someone who does not want to get your home sold like you do.  Take some initiative and make it happen.   Luckily you have stumbled upon this video and site.  Check it out, you may find the answer to all your questions.

Real estate investors are totally different types of buyers than your normal retail buyers.  Most agents are taught to deal with retail home buyers and never learn what goes on in the mind of investors.   Investors are looking for pretty specific deals.  Realtors who take the time to learn a little about real estate investing and what investors really want, they can build a very good business just from investors.

Purchase Price

What most realtors struggle with is that most investors will not pay more than 65 or 70% of the after repair value or market value.  If the property needs any type of work, the investor will reduce their price to reflect that along with holding costs.  The formula that most investors use is they take the retail value multiplied by 70%, minus repairs, minus holding cost, closing costs and a commission if there is one.  Every realtor should know this formula and use it when finding property for investors.

Financing

So how do investors buy property?  A lot of the time they use their own cash, private investors, or hard money lenders.  Knowing that they are using these types of short term financing a realtor should network with different private investors and hard money lenders to provide more options for their investors.  An investor will love any realtor who goes the extra mile and finds them money to purchase their deals with.  If you were a realtors why would you not do this for your investor clients?

Exit Strategies

The profit for investors is made when they purchase the property, but investors do not get those dollars until their exit strategy has kicked in.  What are all of these exit strategies that investors use.  Well there is the simple MLS listing but investors use strategies like owner financing, lease options, renting, wholesaling and the traditional selling.  Realtors should also know all of these strategies and be flexible with any exit strategy that may come up.

Creative Thinking

Some investors are known for thinking a little differently and doing whatever it takes to get a deal done.  Investors come up with non-conventional solutions for problems.  Most realtors are taught not to think this way or are set in their ways to accept creative ways to get deals done.  Some realtors think that what investors are doing is illegal when the idea is completely legal, viable and protects their clients.  Something like a short sale might not look like a great thing for a client but if the client is struggling to sell the house and might end up losing it, then a short sale is in the best interest of the client.

Multiple Deals

Investors want to do several deals.  I know that I am going to be doing 3-5 deals a month consistently in the next few months.  Most realtors are scrambling to attract new buyers that will buy one property on average every five to seven years.  Successful investors are buying multiple properties every year if not every month.  While investor may ask their realtor to submit twenty plus offers a week.  Spending time with a guaranteed buyer who can close and who is patient to find deals can be very beneficial.  Why chase after five buyers for five deals or work with one buyer to buy all five.  There are some instances where a realtor needs to work with other buyers because an investor won’t buy retail property.

Many realtors do not like the fact that investors use multiple realtors to ensure there is a steady flow of deals coming in.  Most realtors would like investors to only work with one realtor.  A realtor might even get their feeling hurt when they find out their investor is getting deals for other agents.  What they do not realize is that if they took the time to learn how to invest, this would almost guarantee that investors would take the time to turn more of their business over to them.

The biggest hurdle of all is finding an investor friendly agent that has an open mind and is flexible.  Realtors and investor often need a period of mutual training to get use to working with each other and figure out each other’s wants and needs.  Some realtors really know what is going on and how to work with investors but everyone needs to educate themselves about all types of real estate and real estate investing.

The market is slowing down and homes are not selling as fast as they use to.  So how do you get your home sold in a slow market?  You could drop your price, you could ad different benefits, spend 10 grand on updates.  Or you could Sell the house.

You may be saying well don’t you think I have tried to do that?  And I don’t mean just advertising the house, listing the house and then waiting around for offers.  In a good market that’s all you need to do and your house will sell no problem.  In a soft market you have to do something that no one else is doing.  Stop complaining about how no one wants to buy your house and start selling your house.

You first must make your listing look amazing.  Most lisings are boring and really don’t sell the house.  Do not just leave it up to the real estate agent to create your listing.  Take charge of your listing.  Make sure you have several amazing pictures on there.  I have always wondered why people put one boring picture up and that’s it.  You only have a couple seconds to catch the buyer’s attention when they are scanning through house listings.  Make yours look amazing and stand out from the rest.

A sign in the front of your house is just not enough anymore to get lots of buyers.  I suggest that you have directional signs everywhere.  What is the goal when trying to sell a house?  I believe it is to get the word out to everyone that you have a house for sale.  So why are you not doing that? Put balloons out, put signs on telephone poles and just paper your area.

Another tip is to make sure you have flyers for your house.  You don’t just need flyers; you also need to make sure your flyers stand out.  Sell the features of the house and not just the facts.  Make sure buyers know what makes your house stand out from others.

When selling a house think of yourself as a car dealer.  I know we have all been to car dealer ships with dealers that almost won’t let us off the lot without buying a car.  Now some might say I would never stoop to their level and do the things they do but I must tell you they know how to sell.  If you elicit the right information out of the buyer and understand that he wants to make a decision then push him to make a decision.

Not all buyer are ready to make a decision but if they have been looking for a house for a while now and have seen what is out there.  Always be ready with a contract and try to get the buyer to commit.  Don’t show, the property Sell the Property.

I recommend that you learn and read what you can about selling and negotiating.  Always be prepared for every situation that comes up.

Contact Big Sky Property Solutions LLC if you are looking to sell and home in the Billings Montana area.

Warning! If you want to keep your home watch this video now!.   Are you facing foreclosure?  Behind on a few Payments? Have a high interest rate?  Going through some financial struggles? If you answered yes to anyone of these then you are the luckiest person on the planet.   You have found your solution.

Who else wants to save their home, credit? Stop getting 50 + letters from banks, realtors, investors and the old lady who lives on the corner.  I know what you are going through.   Several home owners I have helped have shown me a stack of 50 letters, that has to be annoying.   Do you want to make it stop?

As you watch this video, just think what life your future is going to be with out all the stress.

How Long Do Negative Items Stay on Your Credit Report?

The items on your credit report are called tradelines. They can either be positive or negative. Positive tradelines help your credit score and negative tradelines lower your credit score.   Most negative items remain on your credit report for 7  years from the date of first delinquency,  but there are exceptions:

Delinquencies (30 – 180 days late) remain for 7 years from the date of the initial missed payment.

Collection Accounts remain on your credit report for 7 years from the date of the initial missed payment that led to the collection (the original delinquency date). When a collection account is paid in full, it will be marked “paid collection” on the credit report.

Charged Off  remain for 7 years from the date of the initial missed payment that led to the charge off (the original delinquency date), even if payments are later made on the charged-off account.

Closed accounts are accounts that are no longer available for further use.Closed accounts may or may not have a zero balance. Closed accounts with delinquencies remain 7 years from the date they are reported closed, whether closed by the creditor or by the consumer. Positive closed accounts remain at least 10 years.

Lost credit card – If there are no delinquencies, credit cards that are reported lost will continue to be listed for 2 years from the date the card is reported lost. Delinquent payments that occurred before the card was lost are reported for seven years.

Bankruptcy- Chapters 7, 11, and 12 remain for 10 years from the filing date.

Chapter 13 remains 7 years from the filing date. Accounts included in bankruptcy remain 7 years from the date they were reported as included in the bankruptcy.

Judgments (child support, civil & small claims) remain on your report for 7 years from the date the judgment is filed.

Tax Liens -  (city, county, state, and federal) Unpaid tax liens remain 15years from the filing date. Paid tax liens remain 7 years  from the paid dateof the lien.

Inquiries remain on your credit report for 2 years, with those in the last 6 months usually given the most consideration.
Positive Accounts remain indefinitely and paid positive accounts remain 10 years.

The credit experts at Waterfield Credit know the credit laws and how to use the laws to your advantage.   They know how to analyze your credit report toidentify inaccurate, misleading and unverifiable items.   Waterfield Creditworks with you during the dispute process to achieve the best possibleoutcome for you to eliminate negative items that are impacting your credit life..

Check out this website for help CLICK HERE

To Great Credit,

President – CEO
Andrew Canole

Most real estate investors start their career off my investing around where they live.  You can venture out when you have more experience.  The reason behind investing in your back yard is because we feel more comfortable with the areas and have a better sense of what is going on.  It is also easier to get local real estate information that we need.   Investing in your local market is also cheaper to start out, there is less travel costs, you can see what you are buying and it may give you a feeling of comfort.

Pick Your Target Area

First you have to decide which part of town is the best place to invest in.  This can be determined by what kind of real estate investing you choose to do.  I have not gone over the types of real estate investing but some include rehabbing (fixing up and selling), wholesaling (finding deals and selling them to other investors), buying to rent, and there are a few others.  These are the real estate strategies that I use for the most part.   When looking at the market you need to see where other investors are buying their houses.  The best deals will be found in low to middle class neighbors hoods.  By low income neighborhoods I don’t mean drug infested war zones, what I mean is blue collar safe neighbor hoods that might have older houses and houses that are not on the higher end price side.  Now you can find deals in the higher priced neighbor hoods but most will be in the low to middle income neighborhoods.  When looking where others are buying ask local realtors, other investors or appraisers.

When talking with investors ask them several questions such as what neighborhoods they prefer, what type of houses they buy (3bed 2 bath), and what they do (rehab, rent, wholesale).  You should not look at other investors as competition but try and work with them.

Types of Markets

There are different types of markets such as appreciating markets, flat markets, and deprecating markets.  Appreciating markets are markets that there is no enough houses or a very high demand for houses which causes the price of houses to go up.   The reason there is a high demand for housing can be because of job growth, a very appealing area, or several reason.  Flat markets are markets that have no or very little growth.  This means that there is not a lot of demand; buy just enough to fill every ones needs.  Depreciating markets are where there is a lot more houses than people to fill the houses.  This causes house prices to start going down.  This can be because of a large employer leaving the area, a natural disaster or just over building.  There is an old saying buy in a bust and sell in a boom.  In depreciating markets you can pick up several deals, while in appreciating the house prices are going to be much higher and harder to find great deals.  The deal will still be out there you just have to know where to find them.

Get Help

Learning you market is another key to becoming successful.  Real estate Brokers and experts in your area can be the best source of information for you.  Learn to use them to find out what kind of market you are in.  If you are in Billings Montana we are in a pretty stable market.  Billings Montana has not seen the ups and downs that other markets have experienced.  I will have to say that I have been noticing a little bit of a downward trend but not much, the Billings Market should stay stable.  Once the first time home buyer credit is over with we might see a little more decline. Every market can vary by neighborhood, so make sure you know you market well.  I have seen the same houses just one mile apart selling for totally different prices.

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