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Answer Upon - Real Estate - The Secrets To Nothing Down
If you run a nonprofit group an e-mail newsletter to supplement your regular paper newsletter makes a lot of sense. You should ask all community leaders, local politicians and other nonprofit groups to subscribe to your e-mail newsletter. Additionally in your newsletter you should have listings of things that you might need for your nonprofit group that you would like to have donated and the amount of money that you're trying to raise for upcoming events for initiatives that you are sponsoring.By using e-mail newsletters as a way to communicate with the community you will develop a following and a group of people wh
Every seller has one of three primary motives: they either want to be cashed-out, get an income stream, or a blend of both. Find out what the seller wants to achieve and work it.
You can always look at foreclosed property through sheriff sales in your area by calling your local government and asking about tax sales if that is of interests to you.
PREMISE #3-INCOME PRODUCING
The other and very important consideration to real estate investing is that whatever property you purchase should be income producing. The most solid revenue generating property is a rental. Whether a single family or
Great Groups! - Getting a Group to Think Like a Genius Wouldn’t it be great to have an Edison or Einstein, or Mozart at your next meeting? If you had a genius at your meeting, do you think you might come up with better results? Let me be the first to tell you that those people won’t be at your next meeting. But there are some things you can do as a facilitator - some techniques and tactics that you can use with the group that will help them work better. In this article you will learn some of the strategies of geniuses (adapted from Thinking Like a Genius, by Michael Michalko in the May 1998 issue
I have seen some of these programs and without naming specific names, my personal opinion is they are over priced, over rated and cost a lot of money to tell you what you probably already know. For those of you who don’t understand the real estate game, I thought I would give you this free crash course on the “secrets of investing” and the “nothing down” angle.
This is a crash course because I believe most people can understand the concept quickly without spending hundreds of dollars. If you need more information on get-rich-quick real estate programs, check your local library for older get-rich-quick books, the concepts are basically the same yesterday, today and tomorrow. The new programs just have different authors and product covers…
PREMISE #1- DON’T WANTERS
The whole angle to finding deals in real estate is to find sellers who don’t want their properties. A don’t wanter is a high motivated seller who will sell their property cheap, far below market value, to get out from under the property. Now you may ask why someone would be a “don’t wanter”… There are many reasons but chief among them is:
1. The Seller inherited an out-of-town property. They don’t want to pay taxes on it, they don’t want to insure it, they don’t want to manage it, and they just want to dump it fast. They have no blood in the deal and want to be cashed out fast, even if the property sells for substantially less than it is worth.
2. The Seller has economic and/or tax problems. The seller has to dump the property quickly for whatever reason to come up with cash. This is a desperate seller who will be very flexible on price.
3. The seller has to relocate and needs to sell the home to buy the next property and time is of the essence. These types of sellers, while motivated are not as desperate as the first two mentioned but deals can be had.
PREMISE #2- NEGOTIATIONS
The perfect objective is to get the seller to either do a no-down payment or nearly no-down deal on a land contract. The other alternative is to have the seller carry the down payment back as a second mortgage, which you pay over time in conjunction with the first mortgage to the bank or lender. The key: No cash out of pocket. There are a number of seller motivations that can be considered in a real estate transaction as follows: (see my article on negotiations)
1. Do they want the full purchase price? Then, are down payments, interest rates, land contracts, second mortgages, etc negotiable?
2. If selling price is not critical, can you offer them a higher interest rate on a land contract or second mortgage for a reduction in price?
3. If the seller wants out of a deal for tax or income issues: Can you take over the payments and have the seller carry back a second mortgage for the balance of the spread between the selling price and the mortgage balance?
Every seller has one of three primary motives: they either want to be cashed-out, get an income stream, or a blend of both. Find out what the seller wants to achieve and work it.
You can always look at foreclosed property through sheriff sales in your area by calling your local government and asking about tax sales if that is of interests to you.
PREMISE #3-INCOME PRODUCING
The other and very important consideration to real estate investing is that whatever property you purchase should be income producing. The most solid revenue generating property is a rental. Whether a single family or m
I’m a bit amazed at this development but can certainly understand what is causing this problem. The United States Mint recently acknowledged it is costing more than one cent to produce a penny coin. Apparently the rising cost of metal has put the penny in jeopardy.According to Jeff Gore, founder of Citizens for Retiring the Penny, it is currently costing 1.2 cents to put the penny into play. The group considers this ridiculous. I must admit, I too, see the hilarity in this situation.The Gallup poll shows that two-thirds of Americans want to keep the penny coin. Of course they have not considered the rising
PREMISE #1- DON’T WANTERS
The whole angle to finding deals in real estate is to find sellers who don’t want their properties. A don’t wanter is a high motivated seller who will sell their property cheap, far below market value, to get out from under the property. Now you may ask why someone would be a “don’t wanter”… There are many reasons but chief among them is:
1. The Seller inherited an out-of-town property. They don’t want to pay taxes on it, they don’t want to insure it, they don’t want to manage it, and they just want to dump it fast. They have no blood in the deal and want to be cashed out fast, even if the property sells for substantially less than it is worth.
2. The Seller has economic and/or tax problems. The seller has to dump the property quickly for whatever reason to come up with cash. This is a desperate seller who will be very flexible on price.
3. The seller has to relocate and needs to sell the home to buy the next property and time is of the essence. These types of sellers, while motivated are not as desperate as the first two mentioned but deals can be had.
PREMISE #2- NEGOTIATIONS
The perfect objective is to get the seller to either do a no-down payment or nearly no-down deal on a land contract. The other alternative is to have the seller carry the down payment back as a second mortgage, which you pay over time in conjunction with the first mortgage to the bank or lender. The key: No cash out of pocket. There are a number of seller motivations that can be considered in a real estate transaction as follows: (see my article on negotiations)
1. Do they want the full purchase price? Then, are down payments, interest rates, land contracts, second mortgages, etc negotiable?
2. If selling price is not critical, can you offer them a higher interest rate on a land contract or second mortgage for a reduction in price?
3. If the seller wants out of a deal for tax or income issues: Can you take over the payments and have the seller carry back a second mortgage for the balance of the spread between the selling price and the mortgage balance?
Every seller has one of three primary motives: they either want to be cashed-out, get an income stream, or a blend of both. Find out what the seller wants to achieve and work it.
You can always look at foreclosed property through sheriff sales in your area by calling your local government and asking about tax sales if that is of interests to you.
PREMISE #3-INCOME PRODUCING
The other and very important consideration to real estate investing is that whatever property you purchase should be income producing. The most solid revenue generating property is a rental. Whether a single family or
Listen to anyone who remotely knows anything about search engine optimization and you will hear all kinds of strategies and tips on getting high rankings. Time, however, is rarely mentioned.Time and Search Engine OptimizationWhen it comes to search engine optimization [“seo”], there are many ways to achieve your goals. Different strategies work in different situations. Some people use articles such as this to build links like mad while others disavow the strategy. Others will opine to the high heavens about keyword density analysis, keyword phrase research and so on. I should know because I do it as well. Get a
2. The Seller has economic and/or tax problems. The seller has to dump the property quickly for whatever reason to come up with cash. This is a desperate seller who will be very flexible on price.
3. The seller has to relocate and needs to sell the home to buy the next property and time is of the essence. These types of sellers, while motivated are not as desperate as the first two mentioned but deals can be had.
PREMISE #2- NEGOTIATIONS
The perfect objective is to get the seller to either do a no-down payment or nearly no-down deal on a land contract. The other alternative is to have the seller carry the down payment back as a second mortgage, which you pay over time in conjunction with the first mortgage to the bank or lender. The key: No cash out of pocket. There are a number of seller motivations that can be considered in a real estate transaction as follows: (see my article on negotiations)
1. Do they want the full purchase price? Then, are down payments, interest rates, land contracts, second mortgages, etc negotiable?
2. If selling price is not critical, can you offer them a higher interest rate on a land contract or second mortgage for a reduction in price?
3. If the seller wants out of a deal for tax or income issues: Can you take over the payments and have the seller carry back a second mortgage for the balance of the spread between the selling price and the mortgage balance?
Every seller has one of three primary motives: they either want to be cashed-out, get an income stream, or a blend of both. Find out what the seller wants to achieve and work it.
You can always look at foreclosed property through sheriff sales in your area by calling your local government and asking about tax sales if that is of interests to you.
PREMISE #3-INCOME PRODUCING
The other and very important consideration to real estate investing is that whatever property you purchase should be income producing. The most solid revenue generating property is a rental. Whether a single family or
Q: What is a private investor and how do they differ from a hard money lender or a subprime lender?A: A private investor is an individual who lends out their own funds to borrowers who are unable to obtain a loan from a traditional lender such as a bank. It is also possible for private investors to pool their money into a fund that lends out money on a larger scale. Private investors are often wealthy or retired individuals who want a better return on their investments than they could expect to make in the stock market or other investment vehicles.A private investor is essentially the same thing as a hard money
1. Do they want the full purchase price? Then, are down payments, interest rates, land contracts, second mortgages, etc negotiable?
2. If selling price is not critical, can you offer them a higher interest rate on a land contract or second mortgage for a reduction in price?
3. If the seller wants out of a deal for tax or income issues: Can you take over the payments and have the seller carry back a second mortgage for the balance of the spread between the selling price and the mortgage balance?
Every seller has one of three primary motives: they either want to be cashed-out, get an income stream, or a blend of both. Find out what the seller wants to achieve and work it.
You can always look at foreclosed property through sheriff sales in your area by calling your local government and asking about tax sales if that is of interests to you.
PREMISE #3-INCOME PRODUCING
The other and very important consideration to real estate investing is that whatever property you purchase should be income producing. The most solid revenue generating property is a rental. Whether a single family or
My firm looks at hundreds of new product ideas, concepts and inventions every year. Many have great potential. When reviewing these opportunities the creator inevitably asks some form of the following: “Before spending any money, how can I get a feel for the potential success of my new idea?”Consumer research, focus groups and test marketing are commonly utilized by established companies to gauge the market reception and viability of new product offerings. Even limited, controlled programs such as these are beyond the reach of most entrepreneurs. There are, however, other options that can yield a strong indication of
Every seller has one of three primary motives: they either want to be cashed-out, get an income stream, or a blend of both. Find out what the seller wants to achieve and work it.
You can always look at foreclosed property through sheriff sales in your area by calling your local government and asking about tax sales if that is of interests to you.
PREMISE #3-INCOME PRODUCING
The other and very important consideration to real estate investing is that whatever property you purchase should be income producing. The most solid revenue generating property is a rental. Whether a single family or multi family property, the key to building wealth is found in properties that generate an income stream. My personal opinion is to avoid single family units and not to rely on “flipping” to make money. A key starting property is a duplex (see my other articles for the discussion on duplexes and land contracts).
A single family residence in which you live is simply a money pit requiring you to pay the mortgage, the interest, the insurance and taxes. The only wealth from a “home” is found in appreciation. Single family units as rental units can go vacant for a long time and cost you money as well. With a multi family deal like a duplex or a fourplex, at least one unit will always be generating some cash flow. The average vacancy rates tend to be around 30% for commercial properties… or about a third of your units will always need tenants… that is a pretty safe guesstimation for safety.
There you go… the bottom line on investing and it only required a few minutes of your time and no money, right? If you found this article useful, I strongly suggest you click the quick view link below to check out all my real estate articles.
To your success!
Copyright © 2006 James W. Hart, IV All Rights Reserved
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