Real Estate Investing
Avoid these real estate markets
Thursday, September 8th, 2011 | Bank owned, Foreclosures, Real Estate Investing | No Comments
That headline sounds pretty ominous, doesn’t it?
Don’t let it scare you! While it is accurate, the flip-side is that there are a whole lot of real estate markets that you can hone in on and make a killing!
That’s what I’m doing in my local market. I told you about my most recent finds, and that was just in one afternoon! The trick is knowing where to look.
For years, many cautious investors have been saying that now is not the best time to invest in real estate. That is one train of thought, and it has, in fact, saved many people from losing a lot of money. BUT, if you have the right information and resources, now’s as good a time as ever. Maybe even better!
Things are finally **starting** to change in select markets. You have to know what those markets are.
— > Know How to Spot Strong Markets here <—
When you click on the link above, you’ll have the chance to gain access to my good friend, Ken Wade’s forecasting video and eBook. He will show you how to get access to tomorrow’s real estate deals, TODAY. And his eBook won’t cost you a cent.
Imagine having a crystal ball for real estate deals in the palm of your hand. Find out which markets are at the top, which are at the bottom and which ones are rebounding. Even better, find out what’s going on in your own backyard.
Ken is a Harvard-trained CPA and has done over $100 Million in real estate deals, so I’d say he knows what he’s doing.
Don’t get me wrong, it’s bad and going to get much get worse in many markets; you still need to avoid them for a while. However, it’s no longer true across the board …you can start dipping your toes in (if you know where).
There’s NOTHING more important than getting in (and out) at the right time, THAT’s how you create generational wealth with real estate and avoid the catastrophe millions of people have been living through.
You have nothing to lose – check it out today.
—> Click here <—
Today only….tomorrow is one day too late
Wednesday, August 31st, 2011 | Real Estate Investing | No Comments
On today’s webinar you will see how BUSINESS SYSTEMS will take you from struggling, broke, tired, overwhelmed and no direction…..(like I was in early 2004)
To…..
An empowered, new, rich, excited, laser focused, real estate money getting machine….(like I’ve been since late 2004).
IT’S ALL ABOUT BUSINESS SYSTEMS……which I discovered in…….you guessed it….mid- 2004, and I’ve been laser focused on ever since.
You’ll discover this business systems breakthrough today on a live training class and see how I am applying these systems to my newest R.E.I. business model.
Register for the 2pm webinar TODAY
https://www2.gotomeeting.com/register/941932082
Register for the 9pm webinar TONIGHT
https://www2.gotomeeting.com/register/487535066
Josh
P.S. When you attend the webinar today I’ll be showing you and giving you the EXACT Systems Process Maps I’ve been using and updating in my business since late 2004 that has allowed me to close over 600+ real estate transactions….BUT you must attend to get the back door link to the “SYSTEMS PROCESS MAPS”.
Here’s a partial list of the SYSTEMS MAPS I’ll be teaching you and giving you. I figure these are worth at least $297 bucks and they are free on today’s class.
*System #1: How to get started without knowing anyone or anything
*System #2: The Personal Financial System
*System #3: Agent Referral Magnet System
*System #4: Center Of Influence Systems – I received 3 leads already this week with this one.
*System #5: Guerilla Marketing Systems
*System#6: Contracts for Cash Systems
*System#7: Real Estate Banking System – I hired someone on Monday just to manage this one for me.
*System#8: REO Renovation Systems
*System#9: Short Sale Negotiation Systems
*System #10: Forced Appreciation Systems
*System#11: Property Staging Systems
System #12: Buyer’s List Building (B.L.B.) Systems – this is a set it and forget it system. One of my favorites.
*Systems#13: The Green Light Selling System
Once you see this in action you’ll finally experience the breakthrough you’ve been hoping for.
Register for the 2pm webinar TODAY
https://www2.gotomeeting.com/register/941932082
Register for the 9pm webinar TONIGHT
Rip off my new business model that has 8 “Profit Pockets”
Monday, August 29th, 2011 | Real Estate Investing | No Comments
What I am about to share with you IS EXTREMEMLY ADVANCED.
Over the past 6 months I’ve experienced a BRAND NEW, SEVEN FIGURE, BUSINESS BREAKTHOUGH….and now that it’s proven, I want to tell you all about it.
********************
DISCLOSURE
********************
This is intended for the most serious real estate professionals only.
If you are not seriously striving to create a business that generates 1M dollars or more in revenues, then do not attend this class.
If you are lazy and don’t like to work, then do not attend this class.
If you don’t have any resources or money (or no way to get it), then do not attend this class.
Reason is, what I’m about to share with you is going to take a little work, some money (not a lot but some), resources and time.
BUT if you are the right type of person, this is what you’ve been looking for.
So let me tell you who this IS for.
If you have been a real estate investor for at least 3 years and have done at least 25 transactions – THIS IS FOR YOU.
If you are a real estate agent with at least 5 years’ experience and have done at least 35 transactions – THIS IS FOR YOU.
This material will most likely “go right over the heads” of all newbies who have never done a deal.
This Wednesday I’m holding two live webinars where I will reveal to you my newest Real Estate Business and Profit Model.
What’s so important about this model is that there are at least 8 different “Profit Pockets” that make you money in this model.
In the past 30 days I have profited from each of these 8 different “Profit Pockets” and you can to…….IF you set up your real estate enterprise the way I’m about to show you.
In the month of September, I anticipate making 6-figures or more by having this business model work for me.
Register for the Wednesday 2pm ET class here.
https://www2.gotomeeting.com/register/941932082
Register for the Wednesday 9 pm ET class here.
https://www2.gotomeeting.com/register/487535066
I will also be giving away “Systems Process Maps” that explain in stunning VISUAL detail EXACTLY how to set up these “Profit Pockets” in your own business to all those who attend.
While other real estate professionals are getting out of the business mine is flourishing. See how!
JOSH
P.S. This is NOT a launch of a new product and there won’t be anything to buy after this class is over.
I simply want to show you how you can set up a real estate enterprise like this for yourself.
It’s so powerful I had to share it with you as soon as the model was proven. NOW IT IS!
Pick a day and time and jump on this advanced training class.
Register for the Wednesday 2pm ET class here.
https://www2.gotomeeting.com/register/941932082
Register for the Wednesday 9 pm ET class here.
6 Parts to Rehabbing Successfully
Thursday, August 25th, 2011 | Foreclosures, Real Estate Investing | No Comments
Rehabbing is a great way to get started in real estate investing. Doing it properly will help you avoid becoming overwhelmed – and keep your budget intact. Here are six basic parts of the process that are consistent among successful real estate rehabbers:
Part 1: Before Work Begins
• Rekey or change out all locks (make extra key copies) and place a lock box on the front door. If the property is in a depressed area, board up the windows.
• Put all utilities in your (or your company’s) name and schedule them to be turned on the day you close.
• Getting the permits out of the way will free you up and help you avoid potential problems.
• Some work can begin pre-closing. Foundation repair, if necessary, is critical before doing any other work.
• If the property needs pest control services, have them come by before you start work.
• Have a plumber and electrician go through the property to completely shut things off before you begin related work.
• If the seller allows it, start tearing down cabinets, etc. Get a cleanup crew to pick up the debris. Sanitize the house.
Part 2: Roughing Out
• Replace plumbing under the house or route additional plumbing if necessary.
• Remove rotted framing and subfloor. If damage is structural, get the right permits and people to repair it.
• Replace damaged exterior doors, ensuring that they are to code.
• On a standard rehab, replace only those windows that need it.
• Prepare the exterior for painting or replace with siding. Replace and paint exterior trim, including soffits and fascia.
• Curled, warped or faded roof shingles signals a replacement job. Get a good roofer for extensive repairs. Replacing a few shingles, flashing or vents can be done inexpensively.
Part 3: Mechanical Systems
• Hire a chimney sweep to inspect and clean the fireplace.
• Have a specialist inspect and clean out the heating, ventilation and air-conditioning (HVAC) system.
• Have new plumbing and electrical installed to code. Be sure you have all permits and get the work inspected before moving on.
• After inspection, install insulation in exterior walls.
• Repair or replace driveway, patio and walkways.
• If the septic system needs repair, be sure it’s reported in the purchase contract and negotiate who is responsible for the cost.
Part 4: Unfinished Surfaces
• Replace or repair drywall in walls and ceilings.
• Replace the garage door if necessary.
• Examine and replace gutters and downspouts.
• Install wood floors, if worthwhile.
• Replace or reface cabinetry.
• Repair or replace interior doors.
Part 5: Finished Surfaces
• Paint the interior and exterior.
• Replace countertops with your chosen material.
• Replace flooring with your chosen material.
• Ensure that all plumbing is installed properly and leaks are eliminated.
• Install cover plates, jacks, lights, smoke detectors, etc.
• Install new thermostat and vents.
• Finish or refinish wood floors last, to minimize damage from traffic.
Part 6: Final Details
• Little additions, like doorknobs, hardware, house numbers, towel bars, etc. can add to the appeal – and the budget. Take care not to overdo it.
• Install appliances. It’s often cost-effective to work through one supplier.
• Install carpet, if any. Neutral colors are best.
• Have landscaping done after the major work is complete to prevent damage to the lawn.
• Perform final cleaning.
• If desired, a local designer is inexpensive and can help stage the property for extra appeal.
• Do a final walkthrough to ensure nothing is overlooked.
Many people get their start in real estate investing by buying a house wholesale or in foreclosure and rehabbing it. Following these key parts will help keep your enthusiasm up (and your budget down).
To learn how you can start your real estate investing business, click here.
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15 Ways to Succeed in Real Estate Investing
Wednesday, August 24th, 2011 | Bank owned, Foreclosures, Pre-foreclosure, Real Estate Investing, Real estate short sales | No Comments
It wasn’t long ago that real estate was the way to make money. But, is that still true? Things are by no means back to the “old ways” but if you look around, you will see that the tide is changing. Money can be made in real estate investing. Strategic Real Estate Coach presents this list of ways you can profit from today’s real estate climate.
1. Auctions
Real Estate auctions of all sizes and types are among the richest grounds for good properties. But, newbies need come prepared. Lack of research is one of the biggest newbie mistakes.
2. Divorces
Owners in the middle of a divorce are usually very motivated sellers. Be wary of properties that are underwater; in those cases, a short sale is the best bet.
3. Tax Liens
Properties with unpaid tax liens often end up on the auction block after foreclosure. The government has no use for the houses; they just want their money. Sometimes you can find out about these opportunities before foreclosure begins and see how motivated the property owner is in getting out from under the debt.
4. Notice of Default (NOD) List
The NOD list is a treasure trove of buying opportunities. The owners of the newest listed properties may need a bit of (gentle) coaxing before they realize they can’t get out of their situation, but if you are persistent, the rewards can be huge. As with other foreclosure and pre-foreclosure properties, find out how much is owed to the lender.
5. Real Estate-Owned (REO) Properties
Also called bank owned properties, these have already been through the foreclosure process and are now owned by the lender. There are lists for these properties available – agents in your area have them.
6. Short Sales
This is when the bank is willing to take less than what it is owed. Huge profit potential or the chance to own a great property at a bargain basement price.
7. Rehabs (aka Flips)
Although “flipping” isn’t as popular as it was, it’s still a solid way to make a profit – if you do it right.
8. Wholesale purchases
Buy low and sell fast – without even touching the property – to a buyer “as is.”
9. and 10. Rental Properties
There are actually two approaches here:
• Purchase an unoccupied rental property, fix it up, then rent to new tenants or sell it.
OR
• Purchase a non-rental property, fix it up and rent it out.
11. Distressed/Damaged Properties
Drive around and check out any houses with peeling paint, old roofing, tall grass or other signs of neglect. Maybe a building damaged by fire can yield a workable deal. You may be able to find a motivated owner. Take care and get as much information as possible before buying.
12. Free and Clear Properties
You can buy a list for properties in your area that are owned outright. Making an offer to an owner could be profitable.
13. Out of State Owners
Rentals, vacation homes or maybe houses purchased for the big retirement move that never happened.
14. Probate
Heirs often need to sell a property in order to split the proceeds. A cash offer is likely to motivate.
15. Selling Leads (Bird-Dogging)
Create a list of secured leads by doing the legwork yourself and sell that information to local investors. Or, you can do all of the preparation and presentation and present it to investors and take a finders-fee.
Just because you’re not an agent or big-time investor, doesn’t mean that you can’t dip a toe in the waters of real estate investing. It’s easier than you think! The list above isn’t hard and fast – there are many more ways to take advantage of investing in real estate. Use this list as a springboard and dive right in!
To learn more, click here.
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10 Qualities of Successful Real Estate Investors
Monday, August 22nd, 2011 | Bank owned, Foreclosures, Pre-foreclosure, Real Estate Investing, Real estate short sales, Short Sales, Wholesale properties | No Comments
Buying and rehabbing foreclosed properties can be a profitable and rewarding experience. Investing in real estate, however, is not for the faint of heart—it takes a lot of strength and determination.
Successful investors have 10 traits in common that enable them to make money in real estate. You, too, can be a winner in real estate, if you:
1. Create a plan. Always remember the 5 Ps: Prior Planning Prevents Poor Performance. Determine your ultimate goal and the timeline in which you want to accomplish it. Having a plan allows you to spend your time productively on revenue-producing activities rather than engaging in inefficient actions.
2. Write things down. It is said the faintest ink is better than the best memory. Write down your objectives, your revenue goal and the things you have to do to reach your goal. Don’t be afraid of the written word— a written plan is a tangible reminder of what you are striving to do and the blueprint for how you are going to get there.
Once you have created a successful strategy, write it down so it can be repeated; you do not need to reinvent the wheel.
3. Learn from others. Investing in real estate is not a new phenomenon; others have done it and have been successful. Strategic Real Estate Coach works with other investors, coaching them on how to be successful. SREC will share its knowledge with you, too.
4. Accept responsibility. Be accountable for your plan, your actions and the result of those actions. Monitor and adjust when unexpected situations arise.
5. Expect the unexpected. You do not go into real estate investing anticipating failure, but you do need to prepare for contingencies. Have a Plan B in case your original strategy has to be changed.
6. Are committed. Executing your real estate investment plan requires a lot of time and hard work. Dedicate yourself to following and carrying out your investment strategy.
7. Have a desire to succeed. You can have the best plan around, but without the desire to succeed your plan will just sit on the shelf and gather dust. Focusing on success enables you to face and overcome challenges and obstacles on your way to financial independence.
8. Are a life-long learner. Be curious about what works for others, and what doesn’t. Be open and alert to new opportunities. Be persistent in the pursuit of knowledge.
9. Take advantage of your mistakes. No one is perfect, and you will make mistakes. Take responsibility for your mistakes; don’t be afraid to acknowledge when you fail. Recognize them, correct them as soon as possible and learn from them. Learning from your mistakes means you are growing, not stuck in mud.
10. Have a strong work ethic. Don’t just dream about doing something; do it.
Real estate investing takes time and effort, but the reward can be financial independence.
To learn how to kick-start your real estate investing career, click here.
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4 Signs of a Depressed Housing Market
Wednesday, August 17th, 2011 | Foreclosures, Pre-foreclosure, Real Estate Investing | No Comments
For the second year in a row, residential housing construction failed to contribute to growth in the US. The demand for building permits fell, new home construction starts are down, and the foreclosure pipeline is as full as ever. As a result, banks are keeping a tight fist on mortgage lending standards. There are four main indicators that we can look to and determine that we’re still in a pretty significant housing slump:
- Fewer New Home Permits – Last month, there number of new homes under construction was at the lowest rate since 1970. Single-family home construction fell by nearly 5%, whereas apartments and townhouses rose by nearly 8%.
- Falling Demand – Increasing foreclosures are keeping real estate values down. As a result, builders have little incentive to put up more houses in an already flooded market.
- Strict Credit Standards – Getting a mortgage for the average homeowner remains tough. One of the reasons, according to the banks themselves, is there is “reduced or unchanged demand from creditworthy borrowers.”
- Weak Stock Futures – Uncertainty in overseas markets have economists nervous, especially following the recent S&P credit downgrade. The Treasury’s 10-year note fell to 2.27%, from 2.31%. The import index was down .3% in June.
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Home Sales Weakest in 13 Years
Wednesday, August 3rd, 2011 | Real Estate Investing | No Comments
Existing home sales are on pace to hit the weakest level in 13 years, if the first half of this year is any indication. Sales numbers fell again in June by .8%, following a weak Spring, according to the National Association of Realtors. The news has been the same for four out of the past five years. The most recent decline represents the lowest number since November, and is the result in an upswing in cancellations of pending contracts. Last year only 4.91 million homes were sold and we’re behind that pace already. We’re not out of the woods yet.
Right now, the percentage of Americans who own their home is at 65.9%; the lowest rate on record is 62.9% in 1965. In 2004, the high was 69.2%. Families are losing their homes to foreclosure, unemployment and strict mortgage requirements. Home equity values continue to fall.
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Meet Our SREC Student of the Month, Peter Gorski
Friday, July 29th, 2011 | Real Estate Investing, Uncategorized | No Comments
We’re proud to spotlight SREC Coaching Student of the Month, Peter Gorski. Peter joined our coaching program about two months ago, and has already been realizing some tremendous results! Peter attended our 2-day SummerFest high-end student mastermind event last week, and had a tremendous experience. As a gift for being chosen Student of the Month, Peter was invited to stay for two additional days of mastermind with the Maverick/Master’s Elite/Board of Advisors students.
Here’s what Peter had to say about his experience:
“I first wanted to say that I had one hell of a time at SummerFest. It was like no other event that I have been to before. It blew them all away. I was super excited to meet the SREC students, as well as your team, and I had no clue what to expect on Thursday going into the event. Everyone was so very nice to me and to the others, and that is very important to me because it makes me feel welcomed and part of your team vs. others. I’m no one to them but just a name on a list.
You put on one hell of an event and I’m looking forward to the next one. I have to make it to the top and
now, due to SREC, there is nothing holding me back.”
I want to share the story of Peter’s journey before SREC and since joining SREC with you, in his own words:
Closing Costs on the Rise
Wednesday, July 27th, 2011 | Real Estate Investing | No Comments
Origination fees. Title fees. Appraisals. Title insurance. Survey charges. Even postage. All these fees add up to the total cost of homeownership for the potential buyer. While we know those additional costs are there, did you know they are on the rise?
On average, the origination fees (underwriting, processing) from lenders have increased over 10% from last year, up to an average of over $1,500. Third party fees (appraisals, title, postage) have increased nearly 8%, to an average of nearly $2,500. These fees don’t even include property taxes, recording fees and homeowner insurance.
So what’s to blame for this increase? Lenders are saying it’s due to the more tightly controlled mortgage regulations from the government. The strict regulations means more staffing and more resources, which is a cost that is passed along to the borrower. There are now extra steps that the lenders have to follow in the process, more forms to fill out. Lenders are being careful not to do anything that would draw attention from Freddie Mac and Fannie Mae, who now have no tolerance for missing documents or paperwork errors.
Are any of these fees negotiable? Some are and some are not. Lender fees and title insurance rates are certainly negotiable, so it pays to shop around. While things like appraisals and credit report fees are not. It’s up to the consumer to ask the right questions and obtain a GFE – good faith estimate – from at least 3 mortgage brokers and 3 banks.
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