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Welcome back! In our last article, we talked about how trends come & go in all things, but we specifically discussed the fact that there are two tried & true strategies that have seemed to stand the test of time in Real Estate Investing. Those strategies are: Wholesaling and Lease Options.
Wholesaling was discussed last time - it’s mainly done in the “Ugly” house business (houses that need a lot of work). And Lease Options are typically understood to be done in the “Pretty” house business (houses that don’t need much work).
Thanks for hanging in with me so far, veteran investors. Keep reading. It gets better.
Lease Options have been around for a good, long time. Certainly as long as any of the well-known, current ‘Gurus’ have been teaching. The way they work is basically like this:
A homeowner/seller wants to sell their house, but a typical wholesale-style deal (usually with a lowball price offer) doesn’t work, or they just don’t like the offer… or the offer doesn’t make sense. I mean, why would any sane seller sell their house that doesn’t need much work that they have a ton of equity in for a deeply-discounted price? Read More >>
You’re out working foreclosures and see an obviously vacant house. There is a sign in the window saying the home has been abandoned and winterized. You look through the window and confirm that it is vacant. Do you open the door with your “investor key” (a credit card) and go inside to look around?
Over the years, real estate investors have hotly debated this topic. Some investors would never go in the home, while others think nothing of slipping the lock so they can inspect the interior before bidding on the property.
I know investors who regularly go into vacant homes. The popular thought is that there’s nothing wrong with that. The investor is not there to steal or vandalize anything, he’s there to estimate the rehab cost so he can accurately determine his maximum purchase price. What can possibly be wrong with this?
There are a lot of funny stories told by seasoned investors about things they found in abandoned properties; things you can’t believe a homeowner would leave behind – like artificial limbs, stuffed (taxidermy) animals, porno magazines, etc. After hearing these stories, many new investors come away thinking that it’s OK to break into vacant homes. But I’m here to tell you – think again! Read More >>
Because money has been easy to get over the past 15 years I wanted to show you how leverage can truly maximize your profits regardless of your credit history. If you can think about the conservation of cash idea borrowing money from banks can definitely be a thing of the past. Leverage is one way how you can use the limited money you have in the most effective way to maximize your profit potential on every property you buy. If you have less than good credit or if you simply don’t want to use your credit you may want to learn how to use less money and with leverage maximize your profits. If you already have limited money you can use what money you currently have to buy one house but you will only profit or grow your money from that one house and nothing more when you rent or sell the property you bought. Leverage can accelerate how you build wealth if done correctly.
Here is a simple example of what I am talking about. For this example let’s say you have $100,000 you have worked hard to acquire over several months or years or you have the ability to borrow $100,000. One day you decide to buy a rental property. You quickly find a house you believe will be a good rental. The sellers of that house are asking $100,000 for their property. During your face-to-face discussions with the sellers you find they would be willing to allow you to make payments to them every month until the property is eventually paid for over the longest period of time you can get the sellers to agree to. Read More >>
How can you get not only what you want but MORE than what you have ever wished for?
Nothing is Unreachable
Your success depends on your vision.
When you expand your thinking, you can expand your success. Expect more and work knowing that you can have it. From the start, know how big you want your business to be and work as though it is already there.
Big business owners keep good analytical data on sales, acquisitions, expenses, and growth. With good analytical data, you can prove that you are a good business person, and people will want to loan/give you money. Read More >>