Viewing 1-10 out of 17 blog(s)
Day On Capitol Hill
Date: 04/30/2008 / Category: none
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Current Grade A+
Preview:
The following is a keynote address from Dr. John Hayes the CEO of HomeVestors at the beginning of the current event on Capitol Hill. The National REIA group as an organizing body, along with NARHRI and HomeVestors are sponoring the day on the hill as an awarness campaign for law makers to take notice of investors as a group. I am not normally political in nature, but this is very important, if I were not over the limit according to my boss (read wife) on travel so far this year I would be there, but I will definitely be there... continue reading >>
Additional Profit Centers in Your Wholesale Business
Date: 04/18/2008 / Category: none
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Current Grade A
First of all there is the Hard Money Angle. You can lend hard money to the people that buy houses from you. They are going to borrow the money anyway so why not from you? I don’t know about your market but in my market I get 3 points origination and 14% in interest on every deal that I loan money on. This adds sizably to the deal. Usually I can count... continue reading >>
Preview:
There are several additional profit centers inherent in your wholesale business and you should be aware of them and take advantage of them if at all possible.First of all there is the Hard Money Angle. You can lend hard money to the people that buy houses from you. They are going to borrow the money anyway so why not from you? I don’t know about your market but in my market I get 3 points origination and 14% in interest on every deal that I loan money on. This adds sizably to the deal. Usually I can count... continue reading >>
Real Estate Financing 101/202
Date: 04/17/2008 / Category: none
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Current Grade A
There are a lot of things to consider when talking about financing, but where the real estate business is concerned financing is the engine that makes the car... continue reading >>
Preview:
Alright, we need to talk about financing now. Understand that if you get control of and understand financing it will take your real estate investing career to the next level faster than anything else that you can do! I have said it a bunch of times in the past, but if there is one thing that I wish I had learned quicker and earlier in my career it would be financing.There are a lot of things to consider when talking about financing, but where the real estate business is concerned financing is the engine that makes the car... continue reading >>
Rehab for your Retails
Date: 04/16/2008 / Category: none
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Current Grade A
Preview:
The reason that most people get into this business is for the cash. One way or another it is the motivator at some point. That being the case the main way that you make any amount of cash in this business is to sell something. Although I am running a heavy wholesale business, when I started in this business retail was the way we went about it. There is no way to make more money than selling full retail to a first time homebuyer. There also is not a more fulfilling part of our business than fixing a dilapidated house... continue reading >>On to retailing
Date: 04/14/2008 / Category: none
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Current Grade A
Alright, what is the number one American dream? To be skinny right (just kidding)? No not really, to own a home. The first time homeowner, our favorite client. This is the standard “flip this house” model of business, but I have some strong opinions here.
First of all like when we talked about goals, you must know how many houses that you can buy and how long you can hold them. With this being... continue reading >>
Preview:
I have done a portion of the wholesaling stuff already so we will go to “flipping” or as I call it retailing.Alright, what is the number one American dream? To be skinny right (just kidding)? No not really, to own a home. The first time homeowner, our favorite client. This is the standard “flip this house” model of business, but I have some strong opinions here.
First of all like when we talked about goals, you must know how many houses that you can buy and how long you can hold them. With this being... continue reading >>
Private Lending
Date: 04/14/2008 / Category: none
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Current Grade A
Of course this meant that the only way I could break into the real estate business with those circumstances in play was to go the private lending route. This meant I could get money for a deal by the virtue of the deal, not by mine. So now all I had to do was find the deals. So I hustled like all hustlers do and... continue reading >>
Preview:
Private Lending is a difficult topic to talk about for me without mentioning some influences. When I got into this business I had bad credit from a recent divorce, and very little money.Of course this meant that the only way I could break into the real estate business with those circumstances in play was to go the private lending route. This meant I could get money for a deal by the virtue of the deal, not by mine. So now all I had to do was find the deals. So I hustled like all hustlers do and... continue reading >>
Negotiating Tips Part 2
Date: 04/09/2008 / Category: none
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Current Grade A
Ok, I walked everyone through they way that I teach my buyers to buy houses. We walked all the way through the process, but now I want to back track a little and talk about some tips/tricks that may have been mentioned but should be expanded upon.
Planting... continue reading >>
Preview:
Now I am going to attempt to “wrap up” this topic. Not sure how successful that will be. We could literally talk for days about negotiating, but I will get it to where everyone has a little bit of understanding of the topic and let it go from there.Ok, I walked everyone through they way that I teach my buyers to buy houses. We walked all the way through the process, but now I want to back track a little and talk about some tips/tricks that may have been mentioned but should be expanded upon.
Planting... continue reading >>
Tax Time
Date: 04/08/2008 / Category: none
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Current Grade A+
I think that you will find that on your team of people that you have you need a lawyer, a CPA and a... continue reading >>
Preview:
I just wanted to post this on my blog so that I could put this in the front of everyone's mind. It is almost tax time so I think everyone should be mindful of this stuff. I have a CPA that is a real estate investor as well. That is the only way that you should go. Be sure that your CPA is aware of the laws and always seek a second opinion whenever possible.I think that you will find that on your team of people that you have you need a lawyer, a CPA and a... continue reading >>
FHA Financing
Date: 04/08/2008 / Category: none
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Current Grade A
Preview:
Ok, I know I have talked about this before on the forums and stuff, but I am going to put it in another context and all together here. In my opinion right now in the market (March 1, 2008) there are very few options in the market for retail financing. Specifically first time homebuyers financing. The main and only option I would trust for first time homeowners is FHA. FHA is a federally insured loan program that is specifically for challenged buyers that are trying to buy a home. There is not a credit requirement when using FHA, so the... continue reading >>
What type of houses should you buy?
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Ok, if you have been following the blog I have been doing of late, it is kinda’ taking everyone back to the beginning. So for the people that are following here we go;You have thought about where you want to go and where you want your business to take you. When doing this you set goals for yourself that are reaches but still attainable at the same time. These goals are quantified and measurable, so you know what to do on Monday and where you are at in your business.
You know how many pieces of mail... continue reading >>