Getting More Traffic Today

Anybody interested in getting more traffic today? Suppose your were able to gain more traffic today, how would that benefit you? Wow…just think about it…getting more traffic today. The next thought is…but, but if, but because. Seems like the old ways of getting more traffic just aren’t working with much to any success anymore. Can’t seem to locate the missing directions on how to use? Checked the box three times and they are not there. Read on…there is a solution to getting more traffic.

Today…I need to be getting more traffic

If only someone would notice me and my products or services…then- well I know that if they saw it…I could show the benefits and have it sold. Everything that you read these days…prints doom and gloom about the state of the economy and that is downright…very depressing to say the least. Maybe a new motivation book will get ur solved? How about a spiffy new ad in the newspaper or perhaps a good polishing of the old web site, that is assuming that you even have one?  Do you want some lies…or do you want to learn the honest truth? The truth…here it is…you are setting up your lemonade stand on a dead end street. They built a new highway that is getting more traffic…if not all of it. That my friend is the truth. Period. Getting more traffic with Twitter.  Click Here!

Hope for getting more traffic

Hey…did you say hope? I’m all ears, but hurry up, I have to get back to my social media and see what my friends are up to and also to watch all the many interesting Utube videos. Since I’m not so busy…I might as well gossip and blab. Back up and say that again. So, you have a Facebook account, Twitter and possibly a Linked In account as well? So, in addition to blabbing and getting “connected” what else are you doing with social media? Okay…posting an occasional listing so that all your friends and family can see it and get some “atta boys.”  Here is the stark truth of reality that I recently discovered…most social media users are not using the free and easy tools within their reach. Seriously…the way that most folks use these sites- is widely missing the potential of so much opportunity of exposure, which equates to increased sales and profits. Getting more traffic for Realtors. Click here to view more details

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About getting more traffic

You must wipe the memory slate clean and reprocess your marketing approach. Whhhhaaaattt….You are so used to placing an ad in the paper and waiting for it to get read once a week. Most people don’t even read the newspaper anymore and may not have time to notice that one day. Here’s the secret…place a notice of your product or services where the buyer is… at a time and place that is convenient to them. Why the “deer in the headlights” look?  Your future buyers are also on Facebook and Linked In too, but are not yet connected to you.  Now…suppose there was a way, a simple and easy way…to get in front of them right now. In the middle of a weekday and not in the confusion of all the Sunday mayhem. One on one…right now. Your product or service  on display right now to a buyer who has been waiting for you. Do I have your attention? I know that I have. Getting more traffic with Linked In.  Click Here!

Discover getting more traffic

Eight Tips For Getting Traffic With Social Media

Getting more traffic has never been easier…when you can go to the buyer now instead on waiting for them to find you. I recently discovered this secret by pure accident. Hey…I’m a techno nerd the same as most of you, but realize that nothing is forever and “the times they are a changin.” I admit that I’m “old school” and relied on the newspaper ads to getting more traffic to my web site, but discovered that method doesn’t work anymore. I started using Facebook, Linked In and Twitter, and just assumed that if you get a lot of connections that would equate to getting more traffic, but I was mostly wrong. In reality, I am connected to friends and also people from the same industry which means…no sale potential there. I discovered a really cool and amazing method of getting more traffic….exponentially more. No BS, no lies, no scam…just the factual truth. Getting more traffic my simply using all the tools as provide by Facebook and Linked In along with a step by step of how to do it that is presented in a way that we can all understand it. All that I know…is that it works beyond your wildest imagination…by getting more traffic…far above expectations. Discover for yourself.  Getting more traffic with Facebook. Click Here!

No bank qualifying

No bank qualifying is nothing new, in fact that’s how it was done before the creation of banks. General assumption by the average consumer is lead to believe that a buyer must financially qualify and get a loan from a bank. An established fact is that over 30% of real estate transactions do not involve any bank and that number is actually increasing. The American dream is to own a home and shelter is  number two right behind food as a heirachy human needs. When a buyer gets turned down as most do in the current economy, the news of no bank qualifying is music to the ears of many eager “wannabe”  future homeowners.

What about no bank qualifying?

Simply stated…no bank qualifying is getting the funding that you need to purchase a home without over-regulated lending qualifying procedures that are intentionally setup to disqualify most all buyers. The over reacting to the no qualifying policies of lenders a few years ago have been replaced with extreme over cautious verifications and restrictive borrowing criteria that eliminates 90% of potential conventional lending. With that said…where does no bank qualifying actually fit in? Let me explain…

Where do I find no bank qualifying?

Basically no bank qualifying is lending by the seller to the buyer. When a seller is motivated to sell in order to move on to his next venture, the no bank qualifying becomes tailored to an easier set of verifications and policies. For the 30% of sellers that own outright and have no mortgage, they can now become the bank and lend by their own established rules that basically are more emotional and influenced by “getting ur done” and not dealing with any “banking red tape.” These sellers are not lay downs, but are interested in more second chances and also the spirit of helping people in need that have some credible willingness to repay.

With no bank qualifying, the sellers are motivated to move on and be able to settle one issue before moving to the next. The sellers have the ability to lend with any terms that make the deal work. If they are comfortable, they can deed the property and collect monthly payments that are typical to conventional financing. In no bank qualifying, the sellers may opt to use a land contract to test the waters and then covert later. Or they may opt to do a rent to own and use no bank qualifying until the buyers credit dings can be healed. Down Payments, monthly payments, terms and conditions are all negotiable under no bank qualifying.

Creative no bank qualifying

Another specialized no bank qualifying financing is by buying a property “subject to.” For those not familiar with “buying subject to” for no bank qualifying is whereby the seller of a property will agree to deed the property over and retain the existing mortgage, that is paid by, but not obligated by the buyer. In this no bank qualifying situation, I’m sure that I lost a few and others are shaking their heads in disbelief? Let me explain. The number one question is usually why would any seller ever agree to sign over the mortgage to a stranger and keep the loan in his own name? One word sums it up “MOTIVATED.”

In no bank qualifying, why would any seller ever become this motivated? Very easy…life altering events. When the world collapses under you and there is not enough glue to put it together…then you do what you have to do. If…you can make decisions fast enough, then in many cases the scars are not too deep. When you know that you have to make some major changes…and while your credit is still basically intact…then having someone else make your mortgage payment which would protect your credit may be a prudent action to take. A seller with a life altering event knows that either way he will be losing his property and takes the path of least resistance. No credit checks…Click Here!

No bank qualifying with buying subject to

With the high rate of foreclosures and a composite of motivated sellers, not every property is a good subject to purchase. With no bank qualifying the object is to get a property by an assignment of deed…but not with a lot of excess baggage and liability. With no bank qualifying, the purchase should not be much different than with conventional lending, whereby the property should have some equity or at worst case maybe little to no equity. If there is no equity, it should at least be in an area that will recognize some reasonable appreciation in the not to distant future. Even though there is no bank qualifying does not mean that it should not appreciate in value. Zero down.   Click Here!
The intent is to keep and recognize increased value during ownership and  be able to sell and or re-assign for some gain. In no bank qualifying the bank approval process is eliminated but the appreciation and profit areas remain a driving force.

In seeking out a no bank qualifying subject to purchase there are sellers that have not had a life altering event, but have become motivated by other circumstances, such as having two properties and two mortgages with only one being occupied.  These situations tend to dry up the savings accounts very rapidly, which becomes a strong motivator.

In situations as these, there is often additional incentive by actually receiving money in addition to the deed transfer. Now hold here…say it aint so? That really sounds like a sly move to get a seller to pay a buyer to take his property? Under no bank qualifying with a subject to purchase, the seller is cognizant of what this will cost if it remains unsold for another 6-12 months including a real estate commission. So…a bird in the hand…is

The seller concedes that it’s going to cost him “X” dollars say for the next 6 months, so why not “bite the bullet” now knowing that one way or another the money is gone, so it is given to the buyer now along with the deed and the seller knows that he is “rid of the property” and no more monies or worries of the unknown and life can resume. When looking for property for sale with sellers, pay attention to the term, OWC, owner will carry… the owner will carry or hold some financing. Financing without asking.

Another no bank qualifying prelude to the above maybe consideration to a possible rent to own whereby a future buyer may “ramp up” to a sale later by establishing rent history, credit repair and employment stability. This gives both parties a chance to “kick the tires” and see if there is a good fit for a future sale. These are a few common types on no bank qualifying financing scenarios that could be used and adapted to most any real estate transaction that involve no bank qualifying. Financing Secrets  Click Here!

Free Foreclosure Assistance

Free Foreclosure help is not always free as it seems. Most free foreclosure ads use as a ploy to get the borrower to call with the intention of signing  up for a not so free program. This not absolutely wrong to charge a fee for services…if…after a careful 10 minute evaluation that the borrower may not have any viable options? If  there are no viable options that favor the homeowner, then they should be apprised of such before proceeding to taking a fee and giving false expectations. With free foreclosure help the truth about the situation and all the options should be shared upfront and provide an honest opinion that is beneficial to the homeowner.

The reality of a free foreclosure evaluation

The only purpose of a free foreclosure evaluation is to make a determination as to the cause of the foreclosure and to establish how that relates to the homeowners current financial ability to resume payments.  The free foreclosure evaluation will discover if the cause of the foreclosure is temporary or is permanent. For example, if the homeowner has experienced a permanent job loss or a major health issue, the loss of  income by the exiting of another borrower and or any other major setback, then chances are high that the borrower will not be able to makeup any back payments and or resume the current payments.

A free foreclosure evaluation may discover that the borrowers had a layoff or a perhaps a separation that caused some payments to be missed but have resumed  a normal lifestyle of financial stability, then the free foreclosure advise would suggest a workout with the lender. With this latter, if the borrowers felt that they wanted to do a workout but were not able with their limited knowledge, then the engaged services of an honest loss mitigator at a fair price would be a correct decision. 

Here is the reality of most foreclosures. The very high majority of homeowners that face a foreclosure have had a life altering event and are either not able resume payments and or have decided just to walk away from the property. Of the small group that had a temporary setback and are back on their feet and want to get things worked out, surprisingly, the very high majority of these homeowners will fail again within one year. This is unbelievable after all the efforts of free foreclosure assistance to resolve and get back on tract, they would fall down again. Some with legitimate reasons, but most just throw the towel in and walk away. Wow…maybe a fee would represent some worth of value? Foreclosure defense secrets.  Click Here!
Avoiding Foreclosure/U.S. Department of Housing and Urban …

Why have free foreclosure assistance

Why offer free foreclosure help is a great question without a really good answer other than just trying to sort through it all and locate the wee small percentage that want and need the help and will survive and be thankful. Actually to evaluate free foreclosure assistance, an experienced mitigator with a series of questions and given honest answers can usually make a fairly accurate determination within 10 minutes as to what is really going on and the chances of survival. If the homeowner is not working, the income is cut in half, prohibitive health issues, a monumental home repair issue, legal issues, or any other obviously bad situations, the reality of any hope is uncertain. Just wanting to stay and not move is not a viable option to any lender.

The borrowers made a promise to the lender to repay a loan with the security of the property, and when they failed to repay, the lender is not looking for excuses, just a plan to get caught up and or a quick date to move out without a drawn out legal eviction. Let’s check out the possible options. How to survive foreclosure…  Click Here! 

Free foreclosure help options

A free foreclosure evaluation will quickly determine the temporary from the permanent homeowners in 10 minutes. For the temporary foreclosure setback homeowners there are several reinstatement options. Depending on how much cash is available, the borrowers may do a forbearance agreement whereby they agree in writing to put down an amount now and make extra monthly payments for a period of up to one year to get caught up with the hammer that if they miss any payments, they will be back in default again with a lender not willing to do anymore favors. Foreclosure options…Click Here!
If the borrowers do not have any extra makeup monies, then a loan modification may be an option whereby the amount in the rears will be added onto the end of the loan and monthly payments will be resumed as prior to the foreclosure. There are other variations of these two options. Both are subject to careful scrutiny by the lender as to the borrower’s present and future financial stability. Wanting to do a workout and being able to perform has kept many borrowers from a second chance.

The last option that is gaining traction with the current state of the economy whereby the borrowers have the ability to resume making payments, but not at the amount as previous and or at a revised ARM amount. Additionally the value of the property has drastically decreased and the borrowers are thinking of why they would want to pay more than the property is worth and the lender is hoping not to repossess another overvalued REO property.

So with that in mind…new ground is being paved on a case by case basis to amicably resolve. Generally, with supportive information on the borrowers financials and a current property appraisal the trend is where a reduced comfortable monthly payment and a realistic current property value is re-established and all is recast under new loan agreements. Basically as good as it’s going to get. The borrower needs a place to live and the lender doesn’t need any additional REO’s.                                                             Loan modification guide.   Click Here!

Free foreclosure advise for the permanent

When it’s been established and the homeowners realize that it’s game over, what other options remain for a soft landing? Some lenders have a “cash for keys” program whereby the homeowner may collect $2,000 if they move out in say 10 days. The homeowners can just pack up and go and or they can stay and fight for an infinite period. If the lender is aggressive and in the right state they maybe out in several months. If the homeowner is savvy and files a timely defense coupled with a less than aggressive lender…the homeowner could “milk it” for several years without paying any rent. The other option is working with an investor to do a short sale. This may save a few less bruises on the credit later?

 This procedure is negotiated by a third party with the lender to grant a reduced payoff amount that makes the property advantageous for a wholesale real estate investor. The real estate investor can buy cheap and either resell it as is and or make some repairs and retail it. Either way, a profit margin has been created to make it worth the real estate investors time.

This free foreclosure assistance would be advantageous to a seller to prolong the free rent period and some possible moving monies and or some other under the table deals? If the short sale is approved then it can be a win-win-win for all parties with this free foreclosure advise.

This free foreclosure assistance provides an overview of the big picture. The lender just wants there money and or the property, it’s as simple as that. With free foreclosure help, most borrowers understand but pretend not to. Hopefully this has solved the mystery for many and also so that you don’t have to “sweat it out” by having to call one of those free foreclosure assistance places and not get hooked into paying a fee for free foreclosure advise when most don’t qualify for any help.

Find Sellers in the Newspaper

Seriously, if you are really interested to find sellers that are motivated, look in the newspaper. I know that all real estate investors have tried at one time or another…and have all said…not there. I had said that too at one time until I was enlightened. Like most things in life…there is a time and place…and a correct procedure. If you want to find sellers that are motivated..then follow me…

Where to find sellers

Here is the first mistake used in trying to find sellers that are motivated to sell. As soon as the Sunday newspaper hits the stand…we are there lightning fast fighting over the paper to be me first. Here’s the secret…be me last. What…but that’s not the way we’ve always done it! No buts, it’s perfectly okay to race and buy and look at the paper…and mark all the find sellers…but, put the paper on the shelf for at least three weeks. You read it correctly. Here’s the deal. With the placement of any new ad, every seller just assumes the best with that  long line of buyers starting  immediately and continuing till it’s sold. And this is true in a large percentage of ads. To find sellers in the newspaper that are motivated…be patient…and here’s why. Finding Motivated Sellers: The Recipe for Success

As a real estate investor, we are trying to find sellers, but not just any seller. Specifically trying to find sellers that are motivated. It’s a fact that the seller will generally not be motivated on the first day that the ads runs. But…as the days and weeks move along and the initial wave of buyers slows and stops…the degree of motivation increases, especially when the nagging reasons of selling are raging stronger. By the third week when the phone has stopped…or never started, an engaged call would be welcomed to some find sellers. Find seller ideas. Click Here!

What section is best to find sellers?

When looking to buy a home, most would visit the homes for sale areas and with a three week delay this would make perfect sense to find sellers that may be motivated. However, I’m sure that every investor and agent have called, so the approach will have to be a bid more polished to find sellers that are motivated. Ask the right questions and you will get the answers that you need.

The best area that I’ve discovered to find sellers is under the homes to rent area. I know…I know, but hear me out. What happens when a house doesn’t sell and and the seller is motivated to get some cash coming in till it sells. Where would be a logical place to advertise? If the goal is to rent till it sells, then homes for rent is the correct area. To find sellers, looking here is obvious.

Find sellers under homes for rent

It’s possible to find sellers with some rent to own properties here…or find sellers that really want to sell. Under homes for rent there are going to be three major categories of owners. To find sellers that are motivated, all the ads must be called unless it’s a rental management agency. The first group will be the find sellers that are holding onto the property and are primarily only interested in renting…for now. You may have some small talk and leave your contact information. Sooner or later…most every landlord will get the urge to sell and a contact has been established.

Find sellers continues

The second group of find sellers will be other investors as yourself. They are also trying to make some money and generally there is not enough to split. It’s possible that this investor may be ripe and motivated to sell for pressing reasons. In conversation this could be established if there may be a fit now? If not, then as a suggestion, set up a profile of each investor starting with this one as to what his interests may be and the next time that a good wholesale property is available that fits this profile, then contact him for a possible flip or bird dog fee. In conversation, you just never know what kind or relationship may be established for future find sellers deals. Bird dog ideas. Click Here!

The best area to find sellers

The secret to get motivated find sellers is in this third category of homes for rent. These are the find sellers that are motivated to sell, but have been unable to sell and have taken shelter under a rental to provide some cash flow. Many have two homes, possibly live out of state and absolutely must sell and at worst case rent till it sells and the market improves. These homes for rent have been for sale for awhile and they have tried it all and now are very motivated. The find sellers are ready to most anything that makes sense and leads to a sale. Great newspaper ads. Click Here!

Find sellers that are motivated,  a 5-10 minute conversation can generally determine if there may be any opportunity. Have a script of main questions that are need to know and thread with some small talk to see if fits? Ask the questions and the find sellers will answer. Try a trial close to establish the motivation and if all signs point forward, then schedule a meeting to preview and get a verbal handshake.

Find sellers with two properties that have been listed for three or more months and are vacant is most always a good motivator. Remember that it’s a buyers market and  the buyer is generally in the drivers seat for most all negotiations. Use your agreement with your terms and always be honest and work the deal with the end in mind. You have to do what you agree to with find sellers.

The key with find sellers is to ask how they are going to handle the current situation in six months if it doesn’t get resolved and see how they answer. With find sellers, most every one would like to get it sold today for what they want or owe. Waive the magic wand. Keep peeling the onion and the real truth will be exposed. Make it a win win. Find sellers with the aged newspapers under homes for rent will get good results when you follow these suggestions of experience with the added bonus of planting seeds with future find sellers. Secrets of online advertising. Click Here!

Short Sale Defined

A short sale simply defined is when a borrower becomes financially challenged and cannot pay a mortgage obligation. The lender  recognizes the hardship and is willing to accept a lessor payoff now for the loan balance owed known as a short sale as the best solution. The lender is cognizant of the borrower’s financial situation and believes that accepting less now will be the best decision as opposed to waiting for an unknown amount later. As time goes on, the property will continue to decrease in value, the property will further continue to deteriorate, the added expenses of maintenance, utilities and vandalism are real occurring factors.

Other Short Sale Factors

Some other short sale factors that weigh hard on the decision to accept a lesser payoff are the additional funds that each lender must set in reserve. When a loan is late and not paid it becomes non performing and the lenders are required to set aside reserve funds to cover potential losses. This amount does vary, but at one time it was at an 8 to 1 ratio. Meaning that a non performing loan of $100,000 would need $800,000 in reserves. These become inactive funds that are restricted from new borrowers. An added incentive to accept a reasonable short sale now.

Short Sale for other loans

Many borrowers may have a second or possibly a third loan. On a typical short sale, any loans behind the first would be wiped out at a sale so these other lenders will generally take a very small token payoff at closing. A $75,000 may be settled for $5,000…or less. If the first loan is paid down low and or there may be a lot of equity, they are game changers whereby the second lender may buy and payoff the first and circumvent a possible short sale. Many such properties in Florida have 80/20 loans are actually much easier to negotiate than those with just one loan. Short sale video. Click Here!

Considerations for a Short Sale

The simplified concept of a short sale decision really factors down to whether the borrowers have any ability to resume paying and the availability of any ready assets that the lender can access. The borrowers complete a “hardship letter” that details what drama had occurred and what the present financial picture is. This is verified with tax returns, banking statements, pay stubs and other crucial financial documentations. Assuming that the borrowers are financially ruled out of the picture as “not financially able,” then the lender will next focus on whether the investors offer now is better than taking a gamble by taking back the property, maintaining it and trying to forecast what it may resale for down the road after all the potential expenses are deducted? Remember that the lender cannot do any short sale until there is a signed sales agreement and also needs the borrowers written permission. A lender will in most cases negotiate a short sale, but cannot do in advance as some agents want to think and believe. Short sale strategies.   Click Here!

Short Sale package

The real estate investors submitted package includes the borrowers financials along with an authorization letter permitting the investor to communicate with the lenders. It also includes a signed agreement of sale along with a net sheet that details the expenses to be deducted and the net amount that the lender will be receiving.  The investor will also be sending photographs, estimates and a detailed breakdown of all the deficiencies that must be subtracted from the purchase price. These are generally all items that the lender would have to expend money on anyway if the property was bought back by the lender. Must items such as back taxes, realtor fees, leaking roof, mold, major defects with utilities and habitability to name a few. These items will have to be accounted for by the lender and or the investor. Any buyer will need to have repaired and or compensated for these must take care of items. The initial sales agreement factored in allowances for the cosmetic items, general repairs and projected profits.

Short sale at closing

The actual closing will be conducted the same as any other closing. As in any closing, the lenders will fax a payoff letter to the closing agent that is factored onto the HUD-1 and visible to all parties. The seller is all cases will not be permitted to receive any funds at closing and will be required to sign some extra lender documents relating to the lender accepting a smaller payoff. Generally as a rule, the lender will not pursue a deficiency judgment from the borrowers and the IRS will not claim it as a taxable event, however, each borrower should conduct their own due diligence as to how it may pertain to each situation. A short sale can be a win-win-win for all parties if all  are cooperative and a professional handles the correct procedures and documents for the short sale. This is a simple overview of a typical short sale and the actual participation is very involved with lots of back and forth negotiations involved, time consuming and not always accepted. A good short sale must factor in all possible costs, so that when sold there is a reasonable profit margin and value to the end buyer.

Easy to use Property Analysis Calculator

This free easy to use property analysis calculator for real estate takes all the guesswork out of determining approximately how much a commercial or multi-family property is worth. Just ask the questions, get the answers and fill in the blanks. This free property analysis calculator will establish a starting point and is especially useful when a buyer is trying to analyse several real estate properties at a time for financial comparison. The free property analysis calculator is a guide and each must use it as applicable to the intended application and based on the accuracy of all information, property conditions and many other variable factors.

Property analysis for real estate calculations 

The first section to be completed on the property analysis is for income. This area would provide a breakdown for all the income areas; i.e. all the leased areas that are or could produce income. It’s helpful to know the vacancy, tenant status, rates and terms and the last rent increase. This combination of numbers will provide a total income number on the property analysis sheet.

Real Estate expenses on the property analysis calculator

Under this general property analysis area will be a breakdown of all the monies expended, including whether the responsibility of the landlord or the tenant. Note that any expenses made by the tenant will NOT be included and can be marked as “NA” for not applicable. The property analysis areas for taxes, assessed value and insured value are copied from public records. For the utilities, the 12 month total can be used and then calculate a monthly average by totaling all the invoices. It is important to note who is paying for what utilities, landlord or tenant and confirm by verifying the invoices.  The association fees are generally paid monthly by the landlord.

Property analysis for repairs, management and maintenance

The property analysis calculator for utilities, taxes and insurance are what they are and verifiable with invoice copies. A big variable swing is for these above items. Generally on smaller properties, there is no management fees because the seller can easily manage, whereby on a large property is more of a must. As for the repairs and maintenance on a small project, it’s usually fix only as necessary and not budgeted whereby, it’s an established line item on most all large properties because things break and need repaired, and if these properties are not properly maintained, they tend to be extremely expensive to repair later. Each owner has to make a good guestimate to forecast this property analysis calculator.    A cash flow system.   Click Here!

General information on property analysis for real estate

The balance of the information on the property analysis is more for general knowledge that may all or in part provide use in making a final determination. The mortgage information is factual, but not a factor unless it proves to be higher than the established value, but has no direct bearing on the property value.It is important to know if all the tenants are current in paying rent and the last time the rents were increased along with a 5 year record of any and all repairs and improvements made. A helpful time tip later can be shared with the application of security deposits. Essentially the buyer must know everything about the property analysis in order to make a honest evaluation. Investment property calculator. Click Here!

Property analysis to determine net value

To establish a thumbnail of value assuming that all numbers are correct on the property analysis calculator. Subtract all the expenses from all the income and this will establish the net operating income or NOI. A good cap rate used in calculating value in commercial or multifamily properties is an average cap rate of 10. This means that if the NOI is multiplied by 10, it would establish a general range of value. For instance; an NOI of $10,000 and a cap rate of 10 would be valued at $100,000 gross. That is assuming that the building is in great condition with sustained upkeep. If not, then the direct costs to improve would be subtracted from the cap number.  Now if the building needs little work and the current rents are grossly under market, then all bets are off and the buyer will have to adjust accordingly to earn the foreseen windfall. Apartment investing.   Click Here!

Free Property Analysis Calculator below.

PROPERTY ANALYSIS

Property Address _________________________________

Listing Date____________________ Years Owned________

Current Gross Income $_____________________________

        Number of units________________________________

             Income breakdown per unit_____________________

            Vacancy _____________________ % ___________ _

            Tenant Status________________________________

            Lease Terms _________________________________

             Other ______________________________________

Gross Expenses $ ___________________________ _______

            Current Real Estate Taxes $ ______________________

            Current Assessed Value $ ________________________

            Current Insured Value $________ __Premium Amount $_____ __

             Total Annual Utility Costs $ _______________________________

                           Electric$________  Mo. $ ________ Yr. $ __________ Paid by T I L

                                   Gas $________  Mo. $________  Yr. $ __________ Paid by T I L

                              Water $________  Mo. $________   Yr. $__________ Paid by T I L

                              Sewer $________  Mo. $________   Yr. $__________  Paid by T I L

                              _____ $ _______   Mo. $________   Yr. $__________  Paid by T I L

            Association Fees                        Mo. $________  Yr. $__________   Paid by T I L

            Maintenance Cost  $_____________  Describe _______________________ _

            Repairs                       $_____________   Describe. _______________________

            Management Fee    $______________ Describe  _______________________

Net Operating Income $__________________________________________

Age of property ___________________________________________________

Lot size__________________________________________________________

 Zoning Type      R I C I MF__________ In Compliance Y I N __________________

Comparable properties in area Y IN Address’s __________________ __________

Updates I Repairs in last 5 yrs ___________________ _____________________

Items in need of repair / replacement _______________ ___________________

Copy of Sellers Disclosure Y I N __________________ ____________________

Copy of Sellers Appraisal Y I N ___________________ ___________________

Existing Mortgage Y I N   $ Terms __________________ __________________

Mortgage Assumable  Y I N   Payments Current Y I N ______________________
Are all Rent Payments current Y I N___________________________________

Security deposits Y I N Terms________ Amounts ____ ___________________

Sample Copy of Lease Agreement- attached Y I N_________________________

T=Tenant, L=Landlord, Y= Yes, N=No; Circle answers

Successful Real Estate Rehab Secrets 

Sprucing up the tail and trying to make it look like the head will not be a real estate rehab success story with a happy ending. Doing it right without falling in love with it on the first real estate rehab project is easier said than done. Performing a real estate rehab without going into serious debt is another hard  lesson learned by too many. Finding just any property with a minor reduction in sales price and simply adding some lipstick…is an expensive real estate rehab lesson waiting to be learned.

In today’s economy there are too many properties that have been reduced from the original sale or listing price…but are they still priced too high and are not a bargain. Are they in high demand areas? And lastly, how much is needed to make the property saleable and exactly how much can I get it safely appraised for?

The secret of real estate rehab is to think with the end in mind from the start. Some possible thoughts maybe in areas of high demand, does the required work match with my skill sets and do I have the proper amount of time and money to undertake the real estate rehab correctly?  With the property that you are excited about buying, with it fixed up, what is the maximum that you believe that you may resell for it with a current appraisal?

Next, subtract the estimated costs of improvements followed by the soft costs. If you have to borrow money for the project, what will be the cost of all those hidden soft costs? The reason that you are doing real estate rehab work is to gain a profit in exchange  for your risk and efforts. Every investor has some figure in mind. Subtract that number and whatever the remaining number is the maximum that you can purchase the property. Just simple math. If after doing all the subtraction…if there is no money remaining…best to rethink real estate rehab plan A.

Four various methods of real estate rehab

 The first step of a real estate rehab would be a major cleanup and clean out. Park a pickup, dump truck and or a dumpster outside. Dispose of all personal contents, soiled carpeting and furniture. Cut the grass, attend to the landscaping, de-odorize, repair leaks, and generally make it look like it has potential and value. This first step will make it presentable to wholesale to another investor or a very handy retailer wanting to trade for “sweat equity.”  If you are going to keep, it enables you to see beyond the trash and envision the potential.

The second step of Real Estate Rehab

The second step or real estate rehab would be to repair the obvious small items, and a select few major items that are a must to make the property habitable and be able to gain occupancy permit. The remaining efforts would be to freshen up the interior and exterior with a new coat of paint and clean all the surfaces. This will now enable you to rent the property and or a rent to own. In many cases, if you supply the materials, you can “horse trade” with the tenants to do most of the work. Be sure of their capabilities and your liabilities in advance. Flipping secrets.  Click Here!

The third step of Real Estate Rehab

The third step of real estate rehab is not for the beginner and or the faint of heart. Many properties that are bought really right need lots of major repair work that is why the price is so low. This may require a new roof, windows, HVAC, electrical, plumbing repairs, bathrooms and kitchens? These are cost items with a major budget swings for any project.                                                Assigning ugly homes.  Click Here!
If you have bought a property as such, it is best to get some hard bid estimates  along with a appraisal of what the property may be worth after these improvements are completed? If…the after repairs, the value is not going to workout as planned, it may be best to re-wholesale it and or improve in stages? Rehab calculator.   Click Here!

Remember why you decided to get into this business

The fourth step of real estate rehab is not the stage that you may want to do, unless you are planning on living there the rest of your life. This is the main downfall of most new real estate investors. They “fall in love” with the property. They get photos from Architectural Digest along with their life savings and proceed to set new spending records. They fix it up like they would for a dream home and spend money like “drunken sailors.”

Establish a plan and do not deviate with…”honey…this would look so nice…let’s spend the extra money, the renters will pay more rent for it.”  The renters will NOT pay more rent for gold faucets and “top of the line” kitchen and bathroom cabinets at basic rent levels. A thousand here and a thousand there…and it’s $50,000 over the real estate rehab budget and appraised value…This is guaranteed plan to get you to bankruptcy court and or become a classic investor foreclosure victim.

When the property becomes grossly over priced to a point that they cannot resale to even break even and also the proposed monthly rent is out of line with mortgage payments and comparable rents…this defeats the main purpose of the real estate rehab. Remember that the main and only purpose is to sell at a higher price than you purchased including all the costs. Real Estate Rehab for a profit can be fun and profitable it the investor establishes a plan and stays with it.

A $10 Real Estate Option Deposit

It’s true that for a small consideration deposit of $10, a powerful real estate option can be established. A real estate option is the most powerful way to control most any property.  A signed real estate option agreement gives exclusive right to any buyer for an agreed upon time to do whatever due diligence and investigation that they may deem is necessary to complete a transaction. Conventional wisdom and experiences share stories of how the buyer traditionally inspects the property, obtains some financing and either closes and or makes a decision not to purchase. Or… assign the equitable interests for potentially huge profits.

This is an actual case study with a different twist from the ordinary to one with  “apples, cherries and oranges”  that have transformed a neighborhood ”eyesore” into  acres of diamonds for the investor by accident…or with creative imagination.

Real Estate Option to test the landscape

This case study includes an old run down commercial building, a challenged home and 10 acres that had been for sale for nearly 5 years at $500,00 without a single offer. It was overpriced and had no curb appeal. After touring the complete property and all the structures, it was learned that the property was paid off and the seller owed some back taxes and  just wanted out. Without any “haggling’ a deal was agreed on. Finding deals. Click Here!
The package price of $225,000 for the land and structures. The deal consisted of renting to own until the sale was completed. The option also had an assignment clause which was exercised. The land contract converted the rent to a no interest loan that was paid monthly and was subtracted from the principal. The deal consisted of three components. One was the commercial building with a some land. The second was a home and some land and the third was 5 acres of vacant land.

As any one of the three parcels were sold by assignment to a third party, the seller would receive a third of the total equaling $75,000. Some initial advertising found a buyer for the home and the buyer assigned the interest to the resale buyer for $200,00. $75,000 to the seller and the investor retaining $125,000.

Real Estate Option is Assigned

To make the commercial parcel saleable, the investor needed to invest $50,000 in improvements to make it habitable to occupy. The investor assigned his interest for $500,000 less $75,000 to the seller. So to date the investor has made $125,000 on the first sale and $375,000 on the second sale that has grossed $500,000 with 5 acres of vacant ground remaining. Not too bad for a purchase of $225,000. Some valuable tips.   Click Here!

Land Development by assigned real estate option

With five acres remaining…the “thinking hat” was strapped on tight. An engineered was hired to draw up and study the sight. Some various ideas were “kicked around.” The one that made the most sense was to develop the land and sell off the finished lots to a builder. Site plan approval was obtained and a deal was arranged with a local builder to purchase the completed lots.

The investor used the $500,000 from the first two sales to complete the development and finalized the sale of the finished lots by way of assignment. As the dust cleared after all three transactions were finalized and the final numbers looked like this. Development tips.  Click Here!
Sales of parcels one and two calculated to $500,000. The final net on the third parcel that was developed amounted to $650,000 less $75,000 and the combined total was $1,075,000 after all was said and done. Not bad for a $10 deposit at risk.

Case study for real estate options

A true case study that covers many real estate terms in only one transaction. The real estate option and assignment were the key ingredients. One of the other decisive factors was also having a motivated seller. The terms are much more favorable when the seller is motivated and just wants out. Fresh listings, higher demand and unmotivated sellers usually complicate the ability to create favorable price and terms.

Real Estate Options coupled and used with assignments are the most powerful method of controlling any property.

Rent to Own Buyers told me to keep the option deposit  

On my first rent to own deal I was devastated when my first buyers were moving out and not exercising the option to purchase. I had to start all over with a second buyer that ended as the first. Oh boy…this is not looking good! This is not going the way the book instructed me…or is it. I had to reread the rent to own manual again…and began searching for a third rent to own buyer. I kept the book in my car so I knew what to say and do at each step.  I guess that when I got over the initial shock…the ah-hah moment occurred to me that I had $20,000 in option consideration that I was able to keep from the vacated rent to own buyers. That’s what we had agreed to in our agreements.

More Rent To Own Buyers with more deposits

My third Rent to Own Buyers gave me another $10,000 and moved in with the option to purchase. The first buyer decided to relocate, the second broke up with the girlfriend and decided he did not need a large home. These first two rent to own buyers paid for new paint, flooring’s, and a series of misc repairs. With each new rent to own buyer, the monthly rent and the purchase price were increased. And now with the third…

Third Rent to Own Buyers file for divorce and move out.

The third rent to own buyers filed for divorce and moved out. They made a few repairs and left some cleanup… and now, I can’t believe that I have to look for a fourth rent to own buyer…but… I have another $10,000 in my bank account. Sweet. As I read the rent to own manual… again…now I see why the author was commenting on what the “hip national bank” really meant. The pages are all “dog eared” and the key areas are all highlighted. It may be better if the property doesn’t sell. $10,000 a year, plus rent over rides and also buyer improvements that increase property value can be a nice income in multiples for a few hours of work. Even being lazy, finding one new property each month is very doable part time.

The fourth rent to own buyers are a charm…with another $10,000

A few quick weeks later the fourth rent to own buyer moved in and another $10,000 was deposited as option consideration. These rent to own buyers had a few bruises on their credit and with the assistance of a good credit repair expert, their credit score was dramaticallyimproved and they were actually able to obtain conventional lender financing. The actual sale took nearly four years, but let’s recap the success of this rent to own property. Learn valuable tips. Click Here!

A recap of the rent to own property

The initial rent to own spread was set up that I had an option to purchase for 5 years and the ability to sub-rent with $300 of each months rent to be credited at closing. The initial deal was structured to make $20,000 on the sale plus $3,600 in rent credits equaling $23,600. That was plan “A” which do not materialize…thank goodness. Skipping ahead…plan “D” finally was transacted. Plan “D” recognized this summary of income. $40,000 of option consideration, $10,800 of rent credit overrides, and $49,900 in total increases of spread between the agreed upon purchase price and the final selling price. How to locate deals. Click Here!

The rent to own assignment provision

To conclude this rent to own success story with even better news…this was accomplished with a $10 option deposit and never having to close and or transfer any ownership. The real estate investor merely had an option to purchase with the ability to sub-rent and also to assign the contractual interests. A $10 deposit without ever taking title to the property and earning $100,700 profit is an unheard of rent to own deal.  A new rent to own record for the books and an easy model that anyone can use in today’s market. One of these rent to own deals each month would pay the bills. Rent to own strategies.  Click Here!

Lost commissions through critical realtor mistakes

 In carefully analysing real estate agents in any city USA, it doesn’t take too much investigating to uncover the obvious realtor mistakes that are depriving huge commissions and lost listings. The differences between the successful and those just making it are generally attributable to not adhering to certain cardinal rules by committing these obvious realtor mistakes.

Although there are many reasons, the following are generally the most common and obvious realtor mistakes. In each of these it will become obvious as to why these are serious realtor mistakes that are costing so many not only the loss of commissions, but also of the wasted time and monies spent in vain. A simple fix to any or all of these realtor mistakes would lead to a huge increase in commissions and future listings.

10 Top Realtor Mistakes

1 Using an unsupported listing price

2. Limiting marketing efforts

3. Not presenting any and all purchase offers

4. Limited MLS remarks and using incorrect data entries

5. Failing to network with other agents and clients

6. Failing to understand seller motivations and situations

7. Not participating in any continuing education

8. Failing to ask for referrals and testimonials

9. Permitting an unpresentable home to be viewed by the public

10. Failure to use and understand advanced marketing strategies

Understanding these Realtor mistakes

1. Using an unsupported listing price.

In today’s market, a property that is priced too high will seldom get any offers. It’s a buyers market with fewer buyers and a glut of available properties to select from. In years gone by, there many more buyers, the lending guidelines were very favorable and often a buyer may pay the listing price or more without any issues. The real issue in the current market is obtaining a true current property value. The lenders are using a 60-90 day window of comparables, and in some markets, many of these resales are short sale foreclosure properties that were sold a bargain prices. The facts of how much that is owed and the original purchase price are of no present value.

If the listing is to have any chance of selling, it must have a solid appraisal or CMA in support of, and no exceptions. For the many properties that are upside down, they can either be listed at current market value with disclosure that it’s subject to the lenders approval and or what is owed with strong suggestion to make an offer subject to the lenders approval. Generally a short sale is required in most of these underwater situations.

To list a property simply to appease the sellers wishes that are contrary to current values and trends is purely a waste of everyone’s time and money. It’s serious realtor mistakes to concentrate time and money on a property that is knowingly grossly overpriced and the seller is not willing to be realistic. Remember that listings do not pay the commissions, only when the sale is closed. A serious realtor mistakes that is forfeiting huge commissions.  Selling a home for 10% more with a real estate agent.  Click Here!

2. Limited marketing efforts

In a buyer’s market as is currently the situation, there is lots of inventory and the buyers and  agents must be constantly made aware of these available properties along with all updates. Agents forget that in today’s market, they were hired to market the property and not sit back and wait to take orders as in years past. Just merely entering the property in the MLS and installing a sign in the yard is not  marketing contrary to some false beliefs that are serious realtor mistakes.

With the increased costs of newspaper advertising and also the decreased reading of these classifieds by many  is forcing Realtors to seek alternative methods of advertising. The name of the game is driving traffic, mainly to your websites. There are so many social sites and Internet marketing techniques to use. Everything that you think, say and do must have your URL to drive traffic to you as a brand. Failing to stay with these trends are serious realtor mistakes.

Build lists of names from buyers, sellers, friends, business and other agents and share with periodic e-mailings. Everything and anything that you can think of should be included. Always be brainstorming, by reading about market trends and watching all the top producers for ideas and copy what works. These serious realtor mistakes are robbing agents of huge commissions. Tips for selling your home fast.Click Here!

3. Not presenting any and all offers

Under most all real estate laws and  codes of ethics, realtor mistakes would include not submitting any and all offers to the seller. No matter what you may think the seller may accept or not, you are required to present any and  all offers. To unilaterally decide what a seller may accept is against real estate commission law. What the seller may have said or did last month may very well change this month, and must have the opportunity to make his own current decision and to conceal are serious realtor mistakes.

The very action of getting a buyer and seller together is the first step in trying to seek a common ground and should not be undermined by an opinion which are serious realtor mistakes. This is the realtors obligation, and if they are to lazy to write up an offer and present, then another profession maybe in order instead on committing serious realtor mistakes.

4. Limiting MLS remarks and using incorrect entries

The main purpose of an MLS entry is so that all other agents may come to know as much as possible about your listing and be able to correctly inform their potential buyers. The MLS forms have lots of blanks for a reason…to gather information. How selfish is it to deprive the seller of this valuable marketing tool? To merely put in a last name and a partial address is…pitiful. No first names, perhaps a spouse, is it a street, avenue, highway and maybe a zip code? To write a correct offer, it’s mandatory to include especially with joint ownership. Realtor mistakes now expecting another agent to spend more time tracking it down…and in the mean time…the buyers emotions may have chilled.

These realtor mistakes withhold valuable information about the property…Seriously, no room sizes, no photos, no comments, no nothing? Or maybe a photo with snow in the front yard in late August. Serious realtor mistakes of marketing and the listing agent tells the seller why there are no buyers…it’s a bad market as an excuse?   Real Estate marketing tips. Click Here!

5. Not effectively networking

Everyone has a core of friends, buyers, sellers and also of other Realtors. The question is, do you know where the collective contact information is… and…did you ever think about sharing any updates with them? For $15 a month, an agent can use an outside firm to store 500 email leads and push a button when you are ready to let everyone know what you are selling. This can also feed into your social and business sites. So…when you get a new listing…a closed sale…an open house…anything….SHOUT it out for all to know your business. It takes how long to “push a button?” Failure to use is just plain laziness and serious realtor mistakes.

More realtor mistakes to avoid

6. Understanding seller motivations

During the initial interview with the seller, was time spent to see what the real seller motivation of selling was really about? The seller is not only relying on honest listing values, but also on reliable advise and counseling. Why are they selling, how much do they owe and where are they moving. After doing a CMA and being honest with the seller, how are they going to handle the shortfall and do you know how to assist them? In knowing ALL the facts and background, will you be honest with the seller and in a position to render more sound advice that may require some continued research. Maybe a relo in another city and or a rental, or perhaps, how a short sale is conducted? Not knowing all the facts are serious realtor mistakes. Merely calling a lender to inquire about a reduced seller payoff is not an approved short sale! Home seller blues. Click Here!

7. Continuing education

Getting a license and doing a required course every other year is certainly adding to your education, but seriously. Real estate is not a static business without changes. Many agents “get by” for years just washing, rinsing and repeating, but nothing more. If you want more, you have to become more. There were many topics discussed at realtor school with most agents using the basic few,and when one has to come out of the “memory closet”…there is a reaction like something new has been invented! Whoaaa….Lack of continuing education are serious realtor mistakes that penalize huge commissions.

Someone once said that; “if you spend one hour a day studying a subject, that you can become an expert in 12 months.”  One small hour a day that will dramatically increase your earning potential. Read one new real estate book each months and spend $100-200 a year to gain tens of 1000′s of dollars in exchange is a great tradeoff. Serious realtor mistakes not to invest in learning. Wonder why this is so common? It may be a benefit to know how to do a short sale since so many properties are overpriced would be a good starting point? Success tips for 2011 Dan Weis

8.Asking for referrals and testimonials.

The agent worked hard for the seller for a period of time and was able to establish a relationship and get the property sold to everyone’s satisfaction. So, as most agents do, you get your check, shake hands and bid farewell. End of story. Serious realtor mistakes. Secrets of testimonial letters. Click Here!

While the seller is still joyous about the sale and got that behind him, why don’t you be bold and ask him for two small items in exchange. See if he,she or both, can write a paragraph or so of their jubilation of your stellar performance as their realtor. You know how you like to buy things based upon testimonies? A stack of these would seal up many listing presentations faster than your competition. Also, everyone has a circle of influence both personal and business. Everybody knows somebody. Ask for a list of potential names of those who may be in the market to buy or sell. Of course, you may include these sellers in your periodic email blasts that serve as constant reminder of how effective you are and seldom make realtor mistakes of not staying in touch. Getting Real Estate leads. Click Here!  

9. Having a presentable property to show

When was the last time that you had a buyer begging to buy a pig sty? A true “lived in” natural look. Dishes and laundry piled up, reeking of animals and with a never ending list of “do not use” areas within the home? I know that from this view that it sounds a bit funny…but serious realtor mistakes when the property doesn’t sell and there are no commissions paid. A realtor can also get associated with a reputation of listing unrepresentable properties.

Is this the type of property that you may want to show to your family? I think not. If…you can get a potential buyer past the start of this drama in action…they are either going to make a run for the door and or present a new meaning to the word “low ball offer.” Seriously…this a cardinal rule broken, serious realtor mistakes in action. If…you are going to take on this “Sanford and son project” then, you must be honest with the seller of what needs done and when.

If not…then you should not waste your time now and commit serious realtor mistakes. Maybe you can get lucky on the expired listing and get it later after the seller has learned a few lessons? Spend your time on presentable properties that show within reason,are priced correctly and not make these realtor mistakes. To avoid these realtor mistakes…the agent has to be honest with the seller and tell the truth…or don’t make the false commitment.  Easy Tips on ways to de-clutter.  Click Here!                         

10. Advanced marketing efforts

If perhaps your demeanor, marketing techniques and or expert status in listing hard to sell properties becomes your “niche.” You need to sign up for “beyond continuing education.”  You need to be “armed” with an extensive arsenal of possible real estate solutions for every occasion. There are going to be “those types of properties.”  To be able to get ur done and be the hero is your challenge. It may not be pretty…but better than realtor mistakes…and no commissions paid.

To get the phone to ring…You may have to advertise; “the seller may entertain” rent to own, lease purchase, seller finance, will carry, subject to, short sale and other creative lingo. Okay, here’s my point. If you as many other realtors…you do not know much to little about these topics? Any that’s because? You need to learn all about them. And please…don’t start with the…seller will not do…when you haven’t asked and or explained them for his understanding. If you do the same thing over and over and expect different results…that’s called insanity! Learning foreclosure short sales. Click Here!

Look, there are properties that if you don’t extend some creative options…there are being taken back and you will get a big…ZERO! Getting the phone to ring is step one. Can’t make any offer without a buyer. Besides, many of these new callers may work for other properties, that equate to more sales. If you have to do a rent to own…that does not mean no commission. It may compute to a little now and the balance in a year or so. Better than big fat ZERO. Learn as much as you can and keep the knowledge in your “hip pocket” for later use. You will be “one up” on your competition…and the testimonial  and reference letters will be a great tool. Don’t make the same old realtor mistakes and keep bleeding away your rightful commissions. Forget these common realtor mistakes.

These are real life realtor mistakes that have been personally witnesses not merely once or by some hearsay rumor. These realtor mistakes have been brought to light to help the many Realtors who don’t even realize that they are committing these critical errors that severely restrict their ability to earn more commissions. Get an accountability partner or coach to analyse your efforts and compare with these 10 common realtor mistakes and most all will be amazed with the increased commissions and less expired listings.

The choice is all yours indeed. “Do what you’ve always done and you will get what you’ve always gotten.”  Listed below are some selected readings to provide for some continuing education. More sources of continuing education to avoid realtor mistakes.