http://www.articletrader.com/ Articles at ArticleTrader en-us http://www.articletrader.com/finance/real-estate/the-lights-cant-all-be-green.html http://www.articletrader.com/finance/real-estate/the-lights-cant-all-be-green.html Thu, 28 May 2009 02:31:52 -0500
The chances of an investment deal going exactly as you map it out are next to impossible because there are so many variables involved over which you have absolutely no control. Sellers can sometimes throw a monkey wrench in the best laid plans, and you'll have to use your creativity and ingenuity to think on your feet and come up with an alternative that is acceptable to the seller and still profitable for you.

In addition, a typical real estate deal has so many steps, stages, and other opportunities for stumbles or miscommunications that you almost have to be a magician, a juggler, or a comedian in order to make them work. Whether it's finding out at the last minute that a property has liens against it that you didn't know about when you made your offer, learning that the property didn't appraise for the figure you thought it would, or finding out an hour before closing that your lender made a mistake on some aspect of your Good-Faith Estimate, most real estate deals will require you to have the ability to not only think on your feet, but to dance to the beat of an unfamiliar drum.

So what do you do when you're driving and the light turns red in front of you? Unless you're in the mood to take your chances at being seen by a police officer or one of those candid cameras that are hidden in so many intersection stop lights, you apply your brakes like a good law abiding citizen and wait for a green light. If you're impatient by nature, you might quickly glance both ways and make a fast right hand turn and go another way. Again, that's the sort of decision you'll have to make in order to be a real estate investing success.

Today's investing environment has challenges that didn't exist as recently as a year or two ago, and these challenges make it somewhat more difficult to put together profitable deals that will please you and be acceptable to the seller. One of the best ways of being ready for the unexpected is to have a thorough knowledge of multiple investing techniques. In addition, many of the strategies that real estate investors employ can be modified or altered in a way that could make a borderline deal a home run. So don't be afraid to think outside the box and make a quick right turn if you don't feel like waiting for a red light to turn green.

If your investing playbook is a little thinner than you would like, you should consider turning to a reliable, knowledgeable source for practical advice, information, education, and tips that you can't get anywhere else. REI Conferences has a proven track record of teaching rookies and experienced investors alike cutting-edge techniques that could make the difference between being a wannabe investor and a runaway success.

Instead of having the expectation that every light you come to will be green when you get to it, be prepared to make adjustments on the fly and be open to changing your thinking and strategies at any stage of the property acquisition process in order to maximize your profitability and gain as much value as possible out of each and every deal you work.

By being prepared for any and all situations, you can make adjustments as necessary, and find a better way of reaching your destination even when every light isn't green. This will make it all that much sweeter when you drive up on that one in 1 million deal that doesn't have any slowdowns or stoppages along the way.
And if you happen to see me sitting at a red light don't forget to wave.

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Charrissa Cawley has a long standing reputation for excellence as a gifted speaker, real estate trainer and wealth coach. She offers accurate and proven strategies to investors of all different levels and is the founder of www.reiconferences.com, and www.rewexclub.com.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/making-money-is-easy-when-youa%80%99re-taking-action.html http://www.articletrader.com/finance/real-estate/making-money-is-easy-when-youa%80%99re-taking-action.html Tue, 26 May 2009 02:08:52 -0500
Keep Score - One of the most important things you can do to help guarantee that you'll make money is to keep score. On a daily basis, log all time spent on real estate investing activities. Make sure to separate money-making and non-money-making activities. Money-making activities are things like writing offers, negotiating, closing deals, dealing with contractors, etc.

Non-money-making activities are things that won't earn you immediate money: Reading articles, studying courses, etc. While non-money-making activities are important, you have to jump in the game and actually play ball. REIA meetings, planning, and education are all important to your success, but they are the equivalent of suiting up for a game and showing up at the ball park. You can't score unless you actually step up to the plate and take a swing.

Keep Moving - One of the realities of real estate investing is that you won't always get an immediate answer to offers written. Sometimes sellers want to think it over, play a waiting game, or even decide how serious they are about selling. You have to keep moving, regardless of what happens, so if you're not actively negotiating with a seller (or several sellers), keep prospecting for additional properties.

Try to always have multiple offers in the hopper at any given time. You might be negotiating with a seller, but that doesn't stop you from putting another property under contract or looking at additional properties. Stagnation is your worst enemy, so always be moving.
Keep Your Head Up - Always be on the lookout for new opportunities - and be ready to react to these opportunities immediately. You may see a potential property you could look into or hear about a property from a friend or a co-worker.

These new opportunities are all around you, but you have to look for them and seize the moment immediately. Why put something on a to-do list that you might never get to? Keep your eyes open and react immediately.

Don't look Back - Regardless of how skilled you are at negotiating deals, writing offers, or putting yourself in position to score, the reality is that even the most skilled real estate investors won't close every deal they go to work on.

When you strike out, go back to the dugout with your head held high. Move on to the next deal and learn from your past mistakes. A mistake or a misstep is a learning opportunity that can come in handy the next time you step up to the plate.

If you keep these principles in mind on a daily basis, making money won't be a problem for you. Daily attention to activities that give you the potential to move into scoring position are critical to your success as a real estate investor. Regardless of whether you score by reaching one base at a time or by stepping up to the plate and crushing a high and tight fastball into the center field bleachers, the result is the same.

In real estate investing, a score is a score. When you score, you're increasing the size of your portfolio, making money, and living a dream that millions of Americans would kill to have. So get suited up and head to the ball park.

Just make sure you come ready to play. I know I will.

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Charrissa Cawley has a long standing reputation for excellence as a gifted speaker, real estate trainer and wealth coach. She offers accurate and proven strategies to investors of all different levels and is the founder of www.reiconferences.com, and www.rewexclub.com.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/grooming-your-children-to-be-successful-entrepreneurs.html http://www.articletrader.com/finance/real-estate/grooming-your-children-to-be-successful-entrepreneurs.html Fri, 22 May 2009 01:20:25 -0500
The first thing you need to keep in mind is that your children aren't necessarily just younger versions of you. They will have their own wants and needs, but they will also naturally be curious about exactly what it is that you do.

There's nothing wrong with exposing them to the world of real estate investing. As a matter of fact, exposure to real estate investing principles may help them to define very early in their lives what it is that they want to do for a living. It can also serve a much larger purpose: It will give you lots of one-on-one time with your children and provide teachable moments; times that your children will look back on even decades later with warmth and fondness. And believe me when I say this: You'll get even more out of it!

It's important as you do this that you make this a fun process for your kids. If the time you spend educating them about real estate investing and entrepreneurship feels more like an extension of school, they may not have fun. If it isn't fun for your kids, they may tune you out or resist learning the important principles you're trying to teach them about.

The best way to expose your children to real estate is by providing them with general information about entrepreneurship and then giving them specific examples that relate to real estate investing. If they express an interest, continue. If not, pull back. If you force the issue you may completely turn them off to real estate investing. What they learn from you can lay a foundation for a lifetime of wealth even if they ultimately decide that real estate investing isn't the specific form of entrepreneurship that they're interested in pursuing. Here are a few other things you can do as well:

Setting goals - In many ways, children are hard-wired as natural goal-setters. The problem is, they usually fail to follow through with concrete action. Try teaching them how to reach a goal by breaking a single goal down into a series of easily reachable mini-goals. For instance, if they want to buy a new DVD that costs $20 and they can save $5 per week towards that DVD, help them to make a chart that will help them to track their progress. Every week when they save $5, let them color in the next portion of the chart that shows the progress that they have made. You'll be teaching them the importance of setting goals and following through on those goals with clearly defined steps that will help them to reach the goal of owning that new DVD. Share in their excitement with them as they get even closer to reaching their goal - and then celebrate their "victory" when they buy the DVD. Then go home and watch it together!

Motivation - One of the most difficult principles to teach a child is motivation. They change speeds (and directions) so quickly that it's often hard to keep up with them. In order to help keep your kids motivated, it's necessary that you provide them with plenty of encouragement and positive reinforcement. For instance, if you're teaching your child the importance of saving money for a rainy day (which is important in real estate investing and general entrepreneurship), they may want to tap into their rainy day fund every time they want something a day or two before they receive their allowance. Remind your child of how much they have saved and that being patient now will pay huge dividends later.

Investing Principles - Children have no idea about what general investing principles are and how appreciation works. It's a very limited scale, but interest earned from a simple savings account can teach them the principle of appreciation. Explain to your children that by holding onto an asset - in this case a savings account - that their investment will be worth more in a year than it is today. Many times, you won't need to do anything special to receive that benefit other than hold onto the asset. As your children get older, you can show them on paper how real estate can get MUCH more valuable on an even more accelerated timeline.

Teaching your kids principles of entrepreneurship will come in handy if they ultimately decide to follow in your footsteps as a real estate investor. However, these lessons have many other helpful applications in ensuring that they'll have a good background in goal-setting, staying motivated, and the patience to be good investors, too. Entrepreneurs and other go-getters are in relatively short supply. By giving your children a broad knowledge base you can help to ensure a lifetime of prosperity for your kids - and you'll be doing your part to help create another generation of success-minded Americans who will ultimately change the world for the better!

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Charrissa Cawley has a long standing reputation for excellence as a gifted speaker, real estate trainer and wealth coach. She offers accurate and proven strategies to investors of all different levels and is the founder of www.reiconferences.com, and www.rewexclub.com.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/financial-survival-tactics-for-todaya%80%99s-economy.html http://www.articletrader.com/finance/real-estate/financial-survival-tactics-for-todaya%80%99s-economy.html Wed, 20 May 2009 01:55:06 -0500 Take Stock of Your Finances - You may be one of the millions of Americans who have seen jobs disappear. If you have, my heart goes out to you. If you haven't, it's critical that you realize that in today's economy, there's no such thing as job stability. Your employer can decide at the drop of a hat that they're eliminating ‘X' number of jobs tomorrow. If yours happens to be one of them, you'll join the ranks of the unemployed.
It's more important than ever before that you examine your personal finances and see exactly where you stand. Gather all of your financial data and do a balance sheet. How much do you owe - and how much do you have? If you don't have a rainy day fund with a minimum of 3-6 month's worth of your necessary living expenses, it's critical that you get one started today.
Cut Unnecessary Expenses - Successful businesses lives by a budget and you should, too. In normal economic times, you might be able to fly by the seat of your pants and pay what you can as your income allows, knowing that you can easily make up for a temporary financial shortfall the following month. You may not have that luxury right now, so set a budget. Once you've established a budget you can live with, slash some of the luxuries.
While you may think that you can't survive without hitting the drive-through every day for a $5 cup of coffee or that breakfast biscuit and hash brown, keep in mind that drastic times call for drastic measures. If an expenditure isn't a true need, get rid of it. You may discover a lot more pork in your budget that can be sliced and diced than you knew existed.
Cut the Plastic - Credit cards can be a useful tool that can help you achieve some of your financial and real estate investing goals. They can also be a crutch that can put you deeper into debt by enabling you to make purchases that are beyond your current ability to pay. If you have a documented track record of financial blunders, this may be the best time for you to re-take control of your financial destiny by removing your ability to add to your debt by cancelling unneeded credit cards.
If you are responsible with your cards, but you're currently carrying balances on some of your cards, consider paying off these balances or transferring them to low-interest cards. Keep in mind that you might save a few points in interest expenses by transferring your balances, but most cards charge at least 3% of the amount transferred (with a minimum fee) so do the math. If you won't clearly come out ahead by transferring the balances, leave them where they are and pay them down as quickly as possible.

Invest in and for your future - While you want to survive financially today, you also want to thrive tomorrow. If you haven't already started investing in some of the bargain properties available in today's real estate market, it's time for you to get started. While the stock market is a fool's paradise, with stagnant or falling numbers, and limited opportunity except for a lucky few who catch a lucky bounce or happen to get wind of a hot "insiders tip", real estate investing doesn't have the same limitations. You can generate positive monthly income which will continue coming in regardless of what the overall real estate market does. When the market comes roaring back - as it always does - you'll be poised to ride the equity wave to the crest of massive profits.
If your current education base doesn't give you the confidence you need to take advantage of today's opportunity, it's time to invest in your financial future. The good news is that educational opportunities abound - and not all of them cost money. To discover some of the knowledge you need in order to take advantage of the current real estate investing opportunities, head over to www.REIconferences.com
Financial survival isn't always a matter of being the sharpest tool in the drawer. Sometimes it's simply a matter of making the correct financial decisions at just the right time so you're in position to capitalize on opportunities as they present themselves. There's an old proverb that says, "Give someone a fish and they'll eat for a day; teach someone to fish and they'll eat for a lifetime." Your financial survival is very much like this old proverb. But you also have to know when to reel in a fish when you feel a tug on the end of your line. Only then will you truly eat well - and survive even the most severe economic downturn.

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Charrissa Cawley has a long standing reputation for excellence as a gifted speaker, real estate trainer and wealth coach. Her strength lies in training entrepreneurs in the areas of real estate, investing and financial literacy. Her passion is bridging the gap between learning and doing. She has helped thousands of entrepreneurs all over the world seeking financial growth by equipping them with the tools, resources and specialized knowledge to succeed. Charrissa offers accurate and proven strategies to investors of all different levels and is the founder of www.reiconferences.com, one of the fastest growing real estate investment training organizations in the US in addition to www.rewexclub.com, the top rated Real Estate Investor Community on the web today.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/cash-in-on-the-crisis.html http://www.articletrader.com/finance/real-estate/cash-in-on-the-crisis.html Tue, 19 May 2009 05:00:21 -0500
Never before in our nation's history have so many factors simultaneously created so much opportunity for investors who are poised to provide viable solutions for people who need immediate relief. Motivated sellers are literally everywhere you look - and these people are motivated by a variety of factors.

Falling property values - The fact that property values have been falling in most areas of the country is really no secret. These falling property values have created opportunity for many investors because, regardless of current market conditions, there are certain life events that motivate an immediate need to sell. Estates need to be sold in a timely fashion, marriages end, and other life events continue to take place. In short, life goes on, and part of this process includes selling properties quickly so that the various parties can get on with their lives.

Rising unemployment - Millions of Americans have already lost their jobs and it is unknown when some of the people who have lost jobs will be able to get back to work. Most families rely on two incomes in order to survive financially. Unemployment compensation helps, but the reality is that it just isn't enough. Faced with the prospect of foreclosure, most people would rather protect their credit and walk away from their homes. In time, their personal situation will improve, and they'll be ready to jump back into the home ownership saddle and take another ride - on another horse.

Credit Crunch - As the credit markets have constricted, millions of good people have lost the ability to refinance their homes. Some of them maybe shouldn't have been given mortgages in the first place, but a lot of them were simply people hoping to improve their lives and join the ranks of those who own their own homes. Unfortunately, the loans they got locked into had terms that would do a loan shark proud. Now they have no way out, and the government has been slow to respond to their needs.

A Need to Relocate - People whose picture of the American Dream has been shattered by divorce, job loss, touched by an untimely death, or any one of a hundred different reasons, are motivated to sell their properties quickly so they can chase a dream or rebuild their lives. Many of them simply can't move until or unless they can sell their home. A large number of these people don't have the luxury of waiting for the perfect offer. They need an offer they can live with, so they can do what they need or want to do.

As you can clearly see, there are a lot of reasons for being motivated to sell quickly. By being available to purchase these properties, you can give people the flexibility and the freedom to get on with the next chapter of their lives - wherever that might be or whatever that might entail.

While you're helping people, you'll also be building a lucrative future for yourself, one filled with wealth and good fortune. So learn all the techniques you'll need to provide maximum help to as many people as you can. Whether you're putting together a short sale, wholesaling, or buying property with private money, today's market is full of opportunity.

If you're long on desire to help, but short on knowledge about how one real estate investor can really help to improve other people's lives - while getting rich - point your web browser to www.REIconferences.com. The time is now to secure your financial vitality and the success you've been dreaming of.

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Charrissa Cawley has a long standing reputation for excellence as a gifted speaker, real estate trainer and wealth coach. She offers accurate and proven strategies to investors of all different levels and is the founder of www.reiconferences.com, and www.rewexclub.com.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/turn-panic-into-profit-in-2009.html http://www.articletrader.com/finance/real-estate/turn-panic-into-profit-in-2009.html Fri, 24 Apr 2009 01:39:14 -0500 Recognize the Fear – First, fear is a natural impulse, especially in uncertain times. The source of your panic may be a stock market that has known more downs than ups in recent months, confusion about whether real estate markets will ever bottom out, or doubts about your ability to locate profitable real estate deals – or precisely when you should invest to reap your share of the profits available in real estate. Realizing what you’re afraid of is a critical first step in overcoming this fear. Are you afraid to invest because you’re not sure if you’ll make money – or is the source of your fear because you’re not clear about what specific techniques can help you succeed regardless of what the real estate market does next?
Embrace the Fear – It’s natural to be cautious and a certain amount of fear is actually good for you. It forces you to take a step back and take your emotions out of what should be purely economic situations. Instead of allowing yourself to be controlled by fear, embrace the fear – and find a way to overcome it. Real estate can be a scary place to be, especially when there’s some uncertainty clouding your vision. When you were a kid you were probably afraid of the dark. If not, you were afraid of helmeted men on motorcycles, clowns, or something else that seems silly to you now that you’re much older and wiser.
Overcome the Fear – If you look back on your life you’ll discover the key to unlocking the door to your fear. In each case, the one factor that has allowed you to overcome fearful situations has been education. Once you learned that there really weren’t monsters under your bed you were able to go to sleep each evening without trimming years off of your parents’ life expectancy with your blood-curdling screams. Education is the key that will unlock the door to real estate investing success, too. By learning where to invest, how to invest, when to buy and sell, as well as how to guarantee that you can still generate cash monthly regardless of what the real estate market does, you will have in your hot little hands all of the tools necessary to create the kind of future you dream of.
There are lots of ways of using education to overcome your real estate investing fear, but they all involve learning. Instead of trolling around on the Internet looking for educational resources you can trust, there is an easier way. While you have the freedom to do anything you like, it doesn’t make sense to pop from site to site, trying to judge whether the content on each site is timely, actionable, and worthy of your precious time resources. There are thousands of resources on the web – some better than others.
With a single mouse click you can have a valuable resource at your fingertips that can melt your fear and actually make you look forward to getting started today. www.reiconferences.com is just this sort of resource. Success in real estate today doesn’t have to take tens of thousands of dollars or years of searching. The process is simple. In fact, it’s so easy that I’ve broken it down into 10 easy steps that anyone can do from the comfort of their own home. To learn more about how to profit from today’s real estate market without risking your life, your income, or your security, point your web browser to www.REIconferences.com
You’ll be glad you did, especially when you finally wrap your brain around the idea that such simple concepts can be so profitable – to you and your family – with nothing more than a little bit of time, a telephone, and an Internet connection.
Charrissa Cawley has a long standing reputation for excellence as a gifted speaker, real estate trainer and wealth coach. Her strength lies in training entrepreneurs in the areas of real estate, investing and financial literacy. Her passion is bridging the gap between learning and doing. She has helped thousands of entrepreneurs all over the world seeking financial growth by equipping them with the tools, resources and specialized knowledge to succeed. Charrissa offers accurate and proven strategies to investors of all different levels and is the founder of www.reiconferences.com, one of the fastest growing real estate investment training organizations in the US in addition to www.rewexclub.com , the top rated Real Estate Investor Community on the web today.

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Charrissa Cawley has a long standing reputation for excellence as a gifted speaker, real estate trainer and wealth coach. Her strength lies in training entrepreneurs in the areas of real estate, investing and financial literacy. Her passion is bridging the gap between learning and doing. Charrissa offers accurate and proven strategies to investors of all different levels and is the founder of www.reiconferences.com, one of the fastest growing real estate investment training organizations in the US in addition to www.rewexclub.com, the top rated Real Estate Investor Community on the web today.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/how-to-buy-a-foreclosure.html http://www.articletrader.com/finance/real-estate/how-to-buy-a-foreclosure.html Sat, 18 Apr 2009 02:52:23 -0500 • Foreclosure – Once a homeowner has defaulted on their mortgage loan, they’ve begun the countdown to foreclosure. At this stage, the homeowner has faced the reality that there’s a very strong possibility that they could lose their home. Some are holding out hope that a miraculous solution could materialize that will suddenly cure their financial problems, but many others are simply looking for a way out that will allow them to retain some of their dignity – and their credit rating. A very good method of identifying these foreclosure opportunities is by scouring foreclosure filings and then contacting homeowners with a solution to their problems. You can approach homeowners in person, but a better way is to send a personalized letter explaining how you can help them and why you are the best person to help them out of their situation. You might give a brief explanation in your letter of how you propose helping them, but the most critical thing your letter MUST do is make a personal connection with the homeowner with a call to action. Ask them to contact you TODAY so you can explain all of the options available to the homeowner. Improve your chances of success with this strategy by following up with a phone call. Be relaxed, honest, and willing to help. The homeowner will appreciate your candor and will be much more willing to reward you with a go-ahead to help them.
• Post-foreclosure – Once the foreclosure is complete, the homeowner is out of the picture. Now the lender has an REO that they desperately need to get rid of – quickly. As a real estate investor, you’re in the unique position of being a solution to the lender’s REO problem. Lenders are saddled with so many REO properties that many of them are willing to discount them for as little as 40 to 50 cents on the dollar. Offers that lenders would have rejected with contempt a year or two ago are being accepted with gratitude today. So be professional – and ready to get a good deal. If you’d like free access to a tremendous resource in locating nationwide REOs and other bank-owned properties, go to www.REIconferences.com/resources.htm
• Pre-foreclosure – While I don’t teach pre-foreclosure strategies, some real estate investors have had success by trying to beat the competition to the punch and buying a distressed property before it shows up on foreclosure lists. There are several ways of doing this. One of the best is by advertising your willingness to purchase the home of a homeowner who may be facing foreclosure. Homeowners know before anyone that they’re in serious trouble, so if they’re facing an impending divorce, job loss, or payments they can’t afford, they know before they’ve even missed a payment that something needs to be done. You can advertise for pre-foreclosures in the classified section of your newspaper, on bandit signs, or even Craig’s List. When these desperate homeowners contact you for solutions you can buy subject-to the existing financing, by utilizing partners, or even by doing a short sale. Your options are wide open. Listen to the needs of the homeowner and craft a solution that meets their needs – and funnels cash into your bank account!
Foreclosures are a tremendous way to build a portfolio of properties very quickly in today’s market. The opportunities are real – and the profits can allow you to generate instant equity and residual income that can help you make a generational shift in your family’s financial future. For free tips, tools, and advice on how to capitalize on today’s foreclosure crisis, visit www.REIconferences.com.
Charrissa Cawley has a long standing reputation for excellence as a gifted speaker, real estate trainer and wealth coach. Her strength lies in training entrepreneurs in the areas of real estate, investing and financial literacy. Her passion is bridging the gap between learning and doing. She has helped thousands of entrepreneurs all over the world seeking financial growth by equipping them with the tools, resources and specialized knowledge to succeed. Charrissa offers accurate and proven strategies to investors of all different levels and is the founder of www.reiconferences.com, one of the fastest growing real estate investment training organizations in the US in addition to www.rewexclub.com, the top rated Real Estate Investor Community on the web today.

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Charrissa Cawley has a long standing reputation for excellence as a gifted speaker, real estate trainer and wealth coach. She offers accurate and proven strategies to investors of all different levels and is the founder of www.reiconferences.com, one of the fastest growing real estate investment training organizations in the US in addition to www.rewexclub.com, the top rated Real Estate Investor Community on the web today.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/how-to-do-a-short-sale.html http://www.articletrader.com/finance/real-estate/how-to-do-a-short-sale.html Fri, 17 Apr 2009 01:56:52 -0500 The market potential for short sales is breathtaking: According to government statistics, one in eight homeowners owe more on their home than it is worth. While every homeowner in this position isn’t necessarily interested in a short sale, you can clearly see the potential for runaway profits. Here’s how to tap into the profits that await.
The first thing you need is a distressed homeowner with a property worth less than the mortgage balance. Explain to the homeowner that you can help them walk away from their home if you can convince the lender to accept a reduced payoff. Most homeowners at this point are so desperate for viable solutions that they’ll jump at the opportunity. In order to convince the lender to accept your offer you’ll need to put together a short sales packet:
• Cover letter – Consider this your sales pitch. In it you’ll explain to the lender all of the reasons you can’t pay full retail for the property. While lenders are prepared to accept much less than what is owed, they are in the business of getting as much as possible for the property. You’ll need to overcome their objections by building as strong a case for your offer as possible.
• Sales Contract – Do yourself a favor and find out what kind of mortgage loan the homeowner has. If their home was purchased through FHA the lender is prohibited from accepting less than 82% of its value. If you want to offer significantly less than this, find a seller with a different kind of loan. Don’t worry, though. There are LOTS of loans out there that aren’t FHA.
• Authorization to Release Information – Due to privacy concerns, the lender will require that you have the homeowner’s consent to discuss their account. A signed authorization gives them this permission – and they won’t talk to you without it.
• Comps – The lender is desperate to be paid for the property, but they still want to know what the property is worth. Comps give them the information they need in order to make an informed decision about your short sales offer.
• Net Sheet – If you’ve ever bought or sold a property before, you’ve no doubt seen a net sheet. All it does is give a breakdown of where every penny will be going and how much money they will be receiving for the property.
• Photos – Most lenders won’t have a visual point of reference that demonstrates the condition of the property. It’s been said that a picture is worth a thousand words. It can also be worth thousands of dollars. Take the most unflattering photos you possibly can. It will lend credibility to your offer if you can demonstrate every visible flaw that the property has.
• List of Needed Repairs – No house is perfect and homeowners in financial distress are simply unable to make repairs in a timely fashion. Go through the property and document every repair the property needs.
• Hardship Letter – Every home has a story and every short sale packet has to have a hard luck story. Lenders are staffed by human beings who can be swayed by the heartwrenching details of how and why the homeowner is in the financial position in which they find themselves. There’s no need to lie to the lender – most borrowers in this situation have a compelling story. This is their chance to tell it.
Presenting this packet to the lender doesn’t guarantee that your offer will immediately be accepted without hesitation. Afterall, they are in the business of turning a profit. So expect to play a certain amount of cat and mouse. Telephone tag and back and forth negotiations are par for the course.
You have the upper hand in this situation. They have to get rid of this property before it becomes an even bigger headache to them. If they’re forced to foreclose it becomes an REO and brings with it an even bigger set of challenges, problems, and expenses. You don’t HAVE to buy this property if they won’t give you a decent price.
You have millions of properties from which to choose. They have two choices: Work with you on price or risk adding it to their growing list of REO properties.
By putting together a shortsales offer the lender can’t refuse you’re saving the lender and the homeowner lots of problems. While you’re at it you are creating tremendous value and instant equity. So utilize the short sale to sink your teeth into some of the profits available in real estate. Get started now and create real wealth that will secure your future.
Charrissa Cawley has a long standing reputation for excellence as a gifted speaker, real estate trainer and wealth coach. Her strength lies in training entrepreneurs in the areas of real estate, investing and financial literacy. Her passion is bridging the gap between learning and doing. She has helped thousands of entrepreneurs all over the world seeking financial growth by equipping them with the tools, resources and specialized knowledge to succeed. Charrissa offers accurate and proven strategies to investors of all different levels and is the founder of www.reiconferences.com, one of the fastest growing real estate investment training organizations in the US in addition to www.rewexclub.com, the top rated Real Estate Investor Community on the web today.

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Charrissa Cawley has a long standing reputation for excellence as a gifted speaker, real estate trainer and wealth coach. Her strength lies in training entrepreneurs in the areas of real estate, investing and financial literacy. Her passion is bridging the gap between learning and doing. She has helped thousands of entrepreneurs all over the world seeking financial growth by equipping them with the tools, resources and specialized knowledge to succeed. Charrissa offers accurate and proven strategies to investors of all different levels and is the founder of www.reiconferences.com, one of the fastest growing real estate investment training organizations in the US in addition to www.rewexclub.com, the top rated Real Estate Investor Community on the web today.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/uncovering-smart-real-estate-investing-solutions-for-2009.html http://www.articletrader.com/finance/real-estate/uncovering-smart-real-estate-investing-solutions-for-2009.html Thu, 16 Apr 2009 02:31:05 -0500
When the market was flying high, a real estate investor could do no wrong. It was almost impossible to mess up a deal, and quite a few novice investors managed to turn a bad deal into a marginal-to-good deal by exercising a little patience and letting rapid-fire property appreciation correct their mistakes. Those days are gone. If you make the same mistakes now, you’ll feel the reverberations in your bones, and the reminder of your error will be staring you in the face every month when you look at the bottom line and cry yourself to sleep at night.

The real secret to investing success is realizing that successful strategies change with current market conditions. While a quick fix and flip followed by a trip to the bank and a celebration dinner aren’t necessarily out of the question, your most successful strategies for 2009 will be different because market conditions are radically different. The three most lucrative investing strategies for the coming year will be solution-based:

Wholesaling – You can find motivated sellers everywhere you look. Needing to sell due to job loss, relocation, or possible bankruptcy, they are more willing than ever before to let you craft a workable solution that gets them out of the bind they find themselves in. You can come to the rescue of desperate homeowners by putting properties under contract for pennies on the dollar and assigning your right to purchase to another investor, keeping a tidy profit for yourself in the process. You solve the homeowner’s problem by creating profit potential for another investor – and earn a great pay day for yourself.

Short sales – With short sales, you get to play Superman – in duplicate. Not only will you be helping a homeowner to avoid foreclosure, but you’ll also be doing their friendly banker a huge favor. Banks are taking back record numbers of properties and bankers are desperate to get these properties off their books as soon as possible. Desperation is a quiet breeding ground for great deals, so by negotiating on behalf of the homeowner, you help them to avoid foreclosure while helping the banker avoid yet another REO. The payoff to you is a good property at a great price.

REOs – Once a lender has taken a property back into its inventory in foreclosure, the homeowner is out of the picture, but the property remains. As banks watch their inventory swell, they want nothing more than to unload properties as quickly as possible. The reason is simple: A property in inventory is a massive liability to a lender.

Between carrying costs, lost profits, and vacant properties that are producing no income, lenders are faced with another problem: They can’t lend money to other borrowers, which tend to even further restrict their ability to turn a profit. Your offer looks increasingly appealing the longer they have a property in stock.

These solutions are a recipe for financial success in 2009. Learn how to capitalize on them today and this could be your best year ever! If these strategies are outside of your comfort zone, you owe it to yourself and your future to learn how to take advantage of them today at www.reiconferences.com

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Charrissa Cawley has a long standing reputation for excellence as a gifted speaker, real estate trainer and wealth coach. She offers accurate and proven strategies to investors of all different levels and is the founder of www.reiconferences.com, and www.rewexclub.com.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/how-to-do-a-wholesale-deal.html http://www.articletrader.com/finance/real-estate/how-to-do-a-wholesale-deal.html Wed, 15 Apr 2009 02:01:34 -0500
Wholesaling a real estate deal isn’t a difficult transaction, but there are a few things you need to keep in mind if you want to be successful with this strategy. First, wholesaling is where you essentially act as a middle man. If you want to buy a brand new car, rather than go to Detroit – which for most of us isn’t practical – you instead go to a new car dealership and buy one off of their lot. The dealership has taken delivery of the car and they act as a middleman, selling the car to you for more than they paid for it. The difference between what they paid and what they charge you is their profit. It’s no different with a wholesale real estate deal.

The first step in the wholesaling process is locating a property that makes sense for wholesaling. All that’s required is that you locate a distressed property owner who is interested in getting out from underneath the crushing burden of a property they can no longer afford or that they no longer want.

Once you’ve located the property, you simply negotiate a sales price that leaves you room to turn a profit. If you determine that a property has an after repair value of $100,000 (based on $10,000 in repairs), you should offer no more than 40%-50% of that figure. The reason for this is to ensure that you can turn a good profit while enabling another investor to rehab the property and earn a substantial immediate return on the investment.

After placing the property under contract, you locate an investor who is interested in rehabbing the property and taking ownership. Instead of closing on the property yourself, you assign your sales contract with the seller to the investor, who will pay you a fee of $5,000-$10,000 for the property (which is your profit).

While it may seem like a dream come true, this strategy is successfully used every day by investors without cash or credit to profit from real estate and generate the cash they need for wholesale property investments of their own.

After you’ve done a few of these deals yourself, you might decide you’d like to try your hand at creating the potential for a much larger payday. Instead of locating a property to assign to another investor, you could be that other investor. You could let another investor go through the preliminary steps of locating a property for you. Once they’ve placed it under contract, they bring it to you and you negotiate to take their contract off their hands for an amount that you agree upon. Once executed, you close on the property with the seller, complete the rehab on the property, and you’re done. Quick, sweet, and to the point. You have instant equity and you can hold the property as a stream of on-going monthly income.

Wholesaling real estate is a simple process for building real wealth quickly and easily. Whether you decide to step into the real estate investing pool by dipping a toe into the water and wholesaling a property to another investor or you dive into the deep end and take another investor’s assigned sales contract off his or her hands and rehab it yourself, the promise of huge profits should keep you motivated to repeat this process over and over again.

This is just one way you can participate in the exciting world of real estate investing. There are many others as well. To learn more about this and other winning techniques that will allow you to secure your future in real estate, go to www.REIconferences.com today and tap into all of the tools available to help ensure your success.

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Charrissa Cawley is the founder of www.reiconferences.com, one of the fastest growing real estate investment training organizations in the US in addition to www.rewexclub.com , the top rated Real Estate Investor Community on the web today.

Source: http://www.articletrader.com ]]>