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Why Invest in Land?

You may be one of the millions of people considering the idea of investing in land, and now you want to make sure that you’re making the right decision. Here are some of the reasons why you should make the jump into land investment.

Fixed Value
Why should you invest in land and not in, say, the Stock Market? One form of leverage you get when investing in land is the ‘fixed value’ that comes with this kind of asset. While the values of shares can start crashing in the stock market, and the value of your stock may take a dive, you have your land retained at its fixed (if not appreciating) value. Severe crashes in land and property value are quite rare. While there may be some fluctuations depending on the economy and other factors, land over the long term is a stable investment in comparison to other investment types.

A Tangible Investment
While banks are experiencing credit problems and paper value is at serious risk, you have your physical investment intact. If anything, it’s always great to have an asset that you can actually see, visit and walk on. The security you get from a physical investment is simply incomparable.

Greater Long-Term Returns
With the heavy investment in land currently rising from the unstable financial markets, you can expect a shortage in this valuable asset in the future. Hence, you can anticipate the value of land properties to undergo rapid appreciation. As the banking sector weakens, investing in property becomes a wiser option.

Low Risk
Historically, the value of land has always gone through an upward trend. This is mainly due to the fact that there is a finite amount of land. With the growing world population putting this piece of asset in increasing demand, the chances of losing your money with your investment are slim.

Leverage
One advantage with investing in land is that you get to negotiate its price. With the right negotiating skills, you can bargain with the buying price. This is especially true if you are dealing with a seller who is highly motivated in selling the piece of land, or who needs cash right away.

High Return on Investment
If you have the right bargaining skills, you can purchase pieces of land at a low price and sell them later, at a much higher price. You may also develop the land and increase your asset’s value as much as a hundredfold. You have heard about self-made billionaires who made it big because of real estate. This is one of the ways they make those billions.

Easy-to-Understand Investment
You may already have heard about accounting scandals involving the Stock Market and other such investments. You should not encounter this kind of complication with land investing. You can usually get a good picture of why property prices change, and at what rate.

Ownership
It goes without saying that there’s an invaluable sense of pride that comes with the idea of ‘ownership’, and this is the peace of mind you get from investing in land.

Practical Use
You can use your piece of land in a number of practical ways. You can develop the land, harvest the resources, rent it, use it as a campground, subdivide it, build a home or business, there’s endless possibilities.

There is so much to gain and practically nothing to lose when investing in land. When all else fails, or when other modes of investment go shaky, land investment offers solid investment ground.

Find training, information and articles on land investing and learn how to profit with land at ProfitWithLand.com, your #1 source for learning about land investment.

Article Source: http://EzineArticles.com/?expert=Lydia_Quinn

Hard Money Lenders (A Primer)

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Hard money lenders, are individuals with a great deal of money available for investments. Depending on your investor, some may have limited funds while others have deep pockets.

Based on their own personal criteria, they lend this money, typically on a short term basis to investors who use it for a variety of purposes, primarily buying and repairing properties in distress.

As you develop your relationships with hard moneylenders and prove to them that you treat your investments as a legitimate business, you will be able to negotiate more favorable terms. It is a good idea to learn the requirements of and develop relationships with 2-3 hard moneylenders.

Hard moneylenders will serve as a great resource as you begin your Real Estate investment business, especially if you have limited funds and/or credit blemishes. Having a good hard money lender will help you become more profitable in shorter amounts of time. You will be able to take advantage of deals and act quickly if you need to. You will also be able to refer them to potential wholesale customers in order to help them secure financing and guarantee that your deals close correctly and, more importantly, quickly.

Typical terms for hard money

The terms for a hard money loan will vary from lender to lender, will depend on the investor’s experience, the length of relationship the investor has with the lender, and depending on the lender, sometimes even the credit score of the borrower. However, if the hard money lender does look at the credit score of the borrower, he/she will typically be much more lenient because the property will serve as the collateral

Loan to Value (LTV), Interest, and Points

Generally speaking, a hard money lender will lend between 50%-75% of the after-repaired value of a home with interest rates ranging from 12-18% for anywhere between 6 months to 5 years. In addition, they will charge between 1-10 points as an upfront financing fee.

Payment Schedule

Some lenders will charge interest while some will amortize the loans, though more often than not, for the short term loans, it is easier accounting for the lender to collect interest only payments.

Repair Money

Some lenders will lend repair money and others will not. Many times, this will ultimately depend on the LTV of the property. If you do find a lender that agrees to lend for repairs, frequently the money will be kept in an escrow account from which you draw as the work is completed. In rare instances, or after you have established a level of trust with the lender, he/she may allow you to leave the closing table with the funds

Closing Costs

Provided your Loan to Value (LTV) is within the lender’s requirements, you can often negotiate the closing costs to be wrapped into the loan.

Lending Criteria for Hard Money Lenders

Just as terms vary from lender to lender, so do the criteria. Each lender has his/her own preference with regard to areas in which they will lend and types of investors to whom they will lend.

As you begin to build your list of hard moneylenders, it is important to ask them what their criteria are:

• What is the typical Loan to Value you will lend on?

• Where do you find your comparable sales?

• Do you check credit? (If so, can I provide you with a recent copy of my report?)

• Do you require appraisals?

• Do you charge an inspection fee?

• Are there certain areas that you do not lend?

Property Value vs. Credit

Generally speaking, most hard moneylenders are more concerned with the property value than the credit of the investor. They simply want to know that if the investor defaults, they will take ownership of a piece of property from which they can recover their investment and possibly turn a profit themselves. Basically, the lender wants to feel secure in his/her investment.

Finding Hard Money Lenders

Hard money lenders are, in most cases, private individuals. They are not institutional lenders that must abide by a strict set of rules and guidelines.

This means that they can be extremely flexible, but also very tough at the same time.

More than likely, your local investor club will have several hard moneylenders advertising at each of the meetings. These are great places to meet these individuals, network, and build relationships.

In addition to your local investment clubs, you can find these types of funds in many different places. These lenders can be your doctors, attorneys, friends and even your neighbors. The better the relationship you have with the individual, the more favorable the rates and terms will be.

Try the following question, which we learned to ask from a friend and mentor:

“I know this isn’t for you, but do you happen to know anyone that might be interested in earning 12-15% return on their money secured by a first lien in Real Estate?”

You would be surprised at how often the very person that you are asking says “Yes, I am interested.” You are not asking directly, so the person does not feel threatened. In fact, he/she may even be more inclined to lend you money since you were not asking directly.

The Other Side of Short Sales and Foreclosures

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As investors, when we hear the words short sale or foreclosure we may naturally start to salivate; and rightfully so. If you know the ins and outs; they are a great opportunity to make large amounts of money.

What we don’t always think about is the other side. The person who is having to short sale their property or being foreclosed on.

And it doesn’t matter if it’s an investment property, primary residence, second home, you name it; it’s not a fun place to be and most of the time, they are less educated on the process and potential ramifications. And that makes it a pretty dangerous and scary position to be in.

That being said, here are some words of advice that might make the situation a little better as well as make your long term future a little clearer and a whole lot less unsure.

You Must Educate Yourself
There are a lot of moving pieces in a short sale or foreclosure and you have to get educated on processes. You need to take your head out of whatever you are doing and understand what exactly is coming down the pipe. Once you start, you’ll be kicking yourself for not doing this a lot earlier. Take control of your out of control situation.
You Must Get Professional Advice!
This goes hand-in-hand with educating yourself; but you must make sure it’s the right information! Find a professional attorney, accounts, whomever you many need and get answers to your questions. Also, make sure it is someone who is actively doing business in these ? elds, not someone who is resting on old laurels or never really had the experience in the ? rst place. You’ll realize that getting some of your biggest “fears/questions” answered; it may not really be as bad as you think.
Only You Have Your Best Interest in Mind
I know, that sounds negative but unfortunately it’s true. Even though you many have lawyers, Realtors, title companies all working on your behalf, stay involved. Take the 15 minutes or so every other day to do your own follow up and make sure everything you are being told is getting done, is actually getting done. You are the one who has to live with the consequences, not them. It will certainly be worth it!

Is It A Good Time to Buy Real Estate?

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Nothing is harder to watch than seeing real estate investors simply watch the best market we’ve seen in countless years pass them right by.

If this is you, here are 5 concrete reasons why this market is the best we’ve seen in years and why now is the time to buy real estate.

Rock Bottom Home Values
Home values have plummeted. I don’t think anyone would argue here. And what does that mean for you…deals, deals, and even more deals! We have right now the best deals we’ve seen in the last decade or more.
Cash Flow
It also has gotten a lot easier in just about all markets to cash flow on properties. During the boom, many of the most popular markets across the country became virtually impossible to really cash flow. Now, not only is it a lot easier; but it’s expected!
Real Motivated Sellers
The real motivated sellers just raised their hands. What was considered a motivated seller 3-5 years ago was they were will to sell their house. Sure, there were some hard cases but they were far and few and took a lot of digging. Now, they are everywhere.
Government Programs
There are a number of government programs available to help new home buyers buy real estate and to help investors get into real estate for very little down and record low interest rates.
Low Risk Strategies
Terms have never been easier to negotiate; taking a lot of the risk and upfront money out of the game. You really can invest with very little to no money or risk at all.

How to Sell A House Fast

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We’ll assume that you have a property under contract and you’re looking to assign it to another investor or, better yet, a hybrid buyer.

Often, you don’t have a lot of time to go out and ?nd the buyer. You’ve got to get a buyer – that can close – and you’ve got to do it FAST! So in keeping with the “event” model because events are really the fastest way to get the most bodies through the door, you can consider holding an investor workshop with bus tour.

Here’s how it works (and I recommend you partner with a Realtor® or a mortgage broker so it won’t cost you anything out of pocket):

#1: Find A “Preferred” Partner to Host the Event

You’re going to want to ?nd a Realtor® or mortgage broker whose of?ce is within 5 miles of your property and who has access to a small meeting space or conference room.

Ideally, you will have both a Realtor® AND a mortgage brokeras a part of this team. Better yet, you’ll have a Realtor® with properties that are ideal candidates for your buyer prospects.

Since time is of the essence, you’ll need to move quickly, so try and secure the locationand partners on a Monday (if you’re holding this event on a Saturday). If you’re using this strategy solely to build a buyers list, timing is not as critical and you may consider anextra week to promote and/or get FREE publicity.

#2. Select 5 Properties for the Event

One of these is obviously your property and it mustbe clear to the Realtor® and mortgage broker.

If you have multiple properties, obviously you will use those before you ?nd “? ller”.REOs and ? xer upper properties are going to be your best choices. And this is why you’ll need the Realtor®, to get you in! You will need to draft up an agreement with the Realtor to make sure you get paid on any deal that arises from the buyers.

#3. Market Your Event

Your event is going to be an educational seminar with a buyer ?eld trip so that people can actually purchase deals. Make this very clear in your marketing. But remember, we’re using education-based marketing.

Here are 9 ways you can market your event:

www.Craigslist.org (Write your headlines effectively for maximum exposure)
www.Backpage.com
Pay Per Click (Google Adwords)
Local online classifieds
Media websites (most television stations willhave a free calendar of events on their website for community events)
Flyers to local vendors in exchange for sponsorship
Contact local newspaper or TV station to getsome free press
Local REIA group(s)
Your existing database

#4. Hold Your Event

You may wind up with 2 people or you may wind up with 20 people at your event. This depends largely on how well you’ve marketed your event. Obviously themore, the better!

The event will probably take a total of 4 to 5 hours including the property tour. In the “training” portion of the event, you’ll want to have each person meet withthe mortgage broker to know what they are really able to afford/qualify for.

You’ll also want to go over the current market,why now is the time to buy, and the best types of deals to maximize their investment.

#5. Take the Tour of Homes

This is where you help them apply what they just learned. You’ll want to have ? yers, ?nancials, ?nancing scenarios, rehab costs, etc. available for each property. Get them to put a number on each deal at which they’d be willing to write an offer. Do this as you leave each property.

If you have enough people register for the event, you may consider renting a small bus or a minivan, but in most cases, a caravan will serve the purpose. Theonly bene?t of a bus or minivan is that you control thesituation and people can’t leave in the middle.

#6. Recap

Once you’ve visited all 5 properties, return back to the location to go over any questions and write up contracts. You, your Realtor® and your mortgage broker can work together to make sure that any offers people want to place are submitted and that they can actually close if the offer gets accepted.

#7. Follow Up

Again, the follow up is crucial. You will want to touch base with each attendee the following day to get any additional offers, write up contracts, or add to your buyers’ list for the future. In the event someone does not put in a contract on a property, follow up with the same questions we asked in the previous strategy.

These are just a couple of “event” strategies that can help you move a property that you currently have.

Real Estate Listing Sites

Free posting sites are the Holy Grail for real estate investors!

Why? Because not only are the free, they get results. And they get results FAST!

I’m talking… You can literally post an ad in 5 minutes and start getting emails from prospects in 10! These sites work exceptionally well for ? nding all types of buyers.

In fact, I gave an agent in my real estate of?ce a speci?c process for using just ONE of these sites to ?nd buyers, and within just a few days, he had 3 buyers for $300,000+ deals!

The best part is that they are super simple to use!

You just have to know which ones are the best for your target market and come up with a consistent strategy for posting. Since they ARE FREE, it’s critical that you post frequently because many other people are also posting their ads and, consequently, moving your property down the list. (Most are displayed newest ?rst).

It seems as though there are new websites popping up daily, and it’s easy to get overwhelmed trying to ?gure which ones – and how many of them – you should be posting to on a regular basis.

So, for now, let’s stick with the ones that have proven to work. But always keep your eyes open for new sites that are getting visitors and gaining traction!

Craigslist (www.Craigslist.org)

Craigslist is a great place for posting a variety of free classi? eds, real estate in particular. You can post properties for sale, properties for rent, vacation rentals, etc. And this should be your ? rst stop when it comes to using free posting sites.

Pay careful attention to your headline, pricing and location.

There are a number of strategies that you can use to increase the chances of prospects getting TO your actual advertisement such as including extra characters, changing the last few digits of the price, etc.

Learn how to Crush It with Craigslist Real Estate ads…

Zillow (www.Zillow.com)

Zillow is also a great site to post and advertise your home. Zillow was initially used as a “comp” tool. Zillow also allows people to list their properties for sale as well.

The good news is that Zillow has a substantial amount of traf?c and you can capitalize on that for free. Not to mention, it’s a good idea to keep an eye on Zillow because they’re de? nitely adding some new tools that will be valuable resources for investors and homeowners alike.

Postlets (www.Postlets.com)

It doesn’t get much better than Postlets. This site allows you to submit your classi? ed ad, for free, and will distribute it to a number of other free positing sites.

In addition, you can create your own property webpage that they will host for free. So, not only can you submit you ad for free to their site, but they’ll do lots of the other work for you (also for free!).

In addition, you’ll also get the code to post it right on your own blog. This is one of the best tools for selling deals (and most investors and Realtors® haven’t got a clue about it).

If you want to take it further, upgrade to their premium package which gives you a multiple page website for your property, integrates Google mapping, allows for enhanced photos, and video/virtual tours as well as external website links potential buyers can be directed to for even more information.

Here is a partial list of sites to which Postlets will aggregate your ads:

Backpage
Craigslist
Enormo
FrontDoor
HotPads
Oodle
Trulia
Vast
Zillow

These are just a small handful of sites that you can post your properties on absolutely free! When it comes to these types of sites, the old adage: “You get what you pay for” is not true! These sites pack a big punch…

The only caveat is that they require an investment of your time to post. And the best part is that you can always outsource that part for pennies ;-).

Tips for Effective Online Classified Ads

Write Attention-Grabbing Headlines.
You are ?ghting for your prospect’s attention and you’ve got loads of competition! So, you’ve got to grab their attention in order to get them to click through to your actual ad. The ENTIRE goal of your headline (or title) is to get the person to click through to read the rest of your ad. That’s it!
Use “odd” Number Prices.
For example, if your property is $150,000, by simply changing the last three digits to something other than “000” or “900”, you will increase your click-throughs. To keep it simple, we recommend using the last 3 digits of the property address, so if the address is 1234 Main Street, your price would look like this: $150,234. It just breaks up the pattern as the prospect skims down the page.
Describe the Features and Bene?ts.
Always include the features and bene? ts in your actual ad. Most people remember the “features” and leave out the “bene? ts”. This is extremely important!
Include the Maximum Number of Photos.
Always include the most photos that the site will allow. When people are sur? ng the Internet looking for properties, you can never have enough pictures.
Bonus Tip: include a link to your own website where you have more photos of the property. To see the pictures, ask for a name and email address! Now, you’ve started building your list.

Getting Things Done: What Is Your ‘Jabberwocky’?

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“That is an excellent practice. However, just at the moment, you really might want to focus on the Jabberwocky.” ~ Mad Hatter, Alice in Wonderland.

We recently watched “Alice In Wonderland” and in one scene she turned to the Mad Hatter and said, “Sometimes I believe as many as 6 things before breakfast.”

The Mad Hatter (Johnny Depp) replied, “That is an excellent practice. However, just at the moment, you really might want to focus on the Jabberwocky.”

Now… you’ll have to see the movie to put it all together, but when I heard it, I thought how much that scene relates to us as entrepreneurs.

So often, our minds are running in 100 different directions and we’re thinking of all the possibilities that surround us. We see new opportunities everywhere we turn and we dream about the potential of each.

However, when we spend our time focusing on all the “dreams” that surround us and the exciting opportunities that come our way in 1000 different directions, we often forget – or neglect – the “jabberwocky”.

And the jabberwocky is the thing that we have to face if we want to move forward with anything at all. If we don’t face the dragon that’s in front of us, it will eat us alive, destroy us. It will keep us from living the life we dream about.

So… my question to you is this:

What is your jabberwocky? What is the “stuff” that you need to get rid of TODAY so that you can focus on your future tomorrow… so that you can design the life that you desire?

The key here is to get it out of the way BEFORE you do anything else. Realize that you don’t always “slay” the jabberwocky in one fail swoop. Sometimes it takes days or even weeks. Sometimes it may take many months to overcome.

However, if you commit to a few minutes EVERY morning before you start your day to make positive progress on your jabberwocky, everything else will seem easier!

What I’ve found is that by taking just 30-60 minutes each morning to cut away at the thing(s) that’s holding me back and that’s creeping into every aspect of my life, I start my day with a feeling of accomplishment AND I know that I’ve taken a positive step towards overcoming what is holding me back.

When you take this approach, you’ll ? nd that quickly this “jabberwocky” falls and you’re able to begin focusing on the things that really matter – those six things YOU believe before breakfast… or at night when you’re falling asleep dreaming about what your life would be like if…

Just for fun… before you start this battle, think about those 6 things that are really, truly, important…

And remember… as soon as the jabberwocky is gone, you can begin focusing on all of them and start moving to make them your reality rather than things that simply exist in your dreams

Should I Sell or Rent My House?

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Investors all over the country are asking themselves this very thing. Whether you’re in a “reasonably” stable market or one that is still seeing a significant decline in values, the choice of do I sell or do I hold is not as easy to answer as it was say just a few years ago.

Some investors who are still enjoying large amounts of equity in their properties and wondering if it’s time to sell while others are wondering if it’s a good time to make a couple of thousand dollars while they can. There’s no telling where this market is going to go and a few thousand is better than nothing.

When deciding on whether to sell or hold on to one of your investment properties, it will depend on several factors. First and foremost, it ultimately comes down to your financial situation. Plain and simple. But, since there are a lot of factors that make up someone’s financial situation or financial portfolio; it makes it a little more difficult to give clear cut advice. So, not so plain and simple.

But ultimately, what makes this decision so hard? Because now is the time that millionaires are made in real estate. Sure, they can be made in any market, especially in a highly unusual appreciating market like we where in a few years back, but now is the time smart investors build true wealth.

This is where and when people build their retirements. And if you looked over time, you’d find that many more millionaires are made this way than with the quick hit markets. So, regardless of your situation, if you have a property that is cash flowing; even just a few dollars a month and you can afford too, we recommend holding on to it if you can.

The kicker here is that you can this build wealth much more easily and safely now than in other markets as well. Even in the markets that are still seeing declines, they are not as severe as they were a year ago. The market is leveling off making it a lot easier to know the true value of your property and makes it a lot easier to find properties with equity and cash flow value. So, not only would we hold on to our current cashing flowing properties, we’d suggest buying more! Now is truly the time to buy.

For example, property values are significantly lower across the board making it much more likely that you will not only cash flow, in even the most difficult cash flowing markets; but you are able to substantially cash flow.

We’re talking about real income that not only makes a difference in your life now, but will allow you to hold onto the property for years to come so you can take advantage of the appreciation. Which will happen. Regardless of what you hear, the facts are that markets may go up and down but over time real estate gains value. There is no disputing that.

And if you are able to cash flow, you don’t have to worry about the small remaining dips we’ll see in the future. They property is paying for itself. Enjoy the cash and grow your wealth.

Now, there are a few factors that we will need to look at as the “exception” to this rule. First, if you are in a market that is still seeing substantial drops in values and/or a tidal wave of foreclosures and short sales, you may need to look at the bigger picture. In many of these markets rents are going down as well as home values. So, if this applies to you and you are seeing only a small amount of cash flow or even a small amount of negative cash flow, if you can sell for a small profit, sell for the profit.

Take what you can now and don’t look back. I would however take that small profit and investing it into another market that is more stable and which allows you to comfortably cash flow and enjoy your investment. Those have become easier and easier to find.

Next, we also have to look at the many people who are stuck with properties that are so upside down in their value that they are not cash flowing now and are not going to cash flow anytime soon. I would guess that about 20% plus of the markets out there are in this situation. Some investors I’ve met are stuck with properties that are costing them several thousands of dollars a month even with a tenant!

This, of course, would be an entirely different situation as well. The answer here is to meet with your CPA and lawyer and follow their advice on how to get out the best and least damaging way possible. Make sure that both have experience in the real estate field and are well schooled in what you should do and how you should go about doing it. At the end of the day, credit can be rebuilt and probably much faster than the financial damage being done. There’s only so long you can go on spending thousands of dollars a month with no end in sight.

The decision to hold or sell your investment properties depends on several factors including your financial situation, you particular market’s stability, and the cumulative positive/negative cash flow of your current properties

At the end of the day, if you have a positive cash flow than hold it and enjoy the ride up. It may be a few years away but it will go up. But, if you are struggling to make ends meet and need the cash to pay your other bills or if you have a severe negative cash flow situation, them consult your financial/legal team and find out what you need to do and unload the property. For some, it may be the only solution.

7 Simple Tips for Flipping Real Estate

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Unless you’ve been living under a rock for the past few years, you’ve probably either dabbled in real estate yourself, or at the very least, know someone who has. So, how does someone that’s brand new to real estate start flipping homes?

And let’s clear the air right now… IT IS NOT TOO LATE to start investing in real estate! In fact, right now is one of the BEST times in the last DECADE to get started flipping real estate

Follow these 7 tips to start investing in real estate today:

1. Look In Your Own Backyard

The grass is always greener in the other neighborhood, and it’s easy to keep looking for the “right” area. The bottom line is that any area is the “right” area.

In order to be effective in the steps 2 through 7, you’ve got to get over the idea that real estate deals only exist in other areas. It sounds cliché, but there are plenty of deals in your own backyard. Not to mention, it’s easier to manage and you’re likely to know the values in and around your area.

2. Find the “Right” Property

Not every piece of real estate is a good investment – even if you can “steal” it! Make sure you look at things like:

Property Location – Will you be able to sell the property once you’ve renovated it?
Condition – How much work- and what kind of work – needs to be done and is it a project that you can afford to take on financially and from a management perspective?
Seller’s motivation – Is the seller truly motivated enough to negotiate on price?

3. Have A Thorough Inspection

Unless you’ve been flipping real estate for a while or have a background in construction, then it’s a good idea to have a full home inspection. It may cost you a few hundred dollars, but will catch things that maybe you didn’t know to look for. When flipping real estate, it’s the “little” things that add up very quickly and can eat up your profits!

*** Bonus Tip*** Use a home inspection to help renegotiate the purchase price OR ask for a credit toward repairs.

Even to this day, I almost ALWAYS hire a home inspector if I’m going to be fixing and flipping a property. In 99% of the cases we make back far more than the cost of the inspection through additional negotiations and discounts on the property, even things that we knew about when we wrote the contract!

4. Don’t Get Emotional

Real Estate is emotional by nature. Investing in real estate cannot involve your emotions. It’s got to be all business. If the numbers don’t work, move on to the next. So many times, people are so desperate to flip their first deal that they make bad decisions just to do something at all. Then, they’ve become so attached to the deal that they try to sell it for higher than the market will bear and end up holding the property longer, reducing their profit and getting left with a bad taste in their mouth.

5. Know Your Numbers – All of Them!

Late night infomercials will hype you up with pipe dreams of flipping real estate for millions of dollars in profits and no work. You’ve seen the testimonials that go something like: “Mary Smith purchased this property for $100,000. It cost $10,000 in repairs. She flipped the property for $140,000 and made $30,000”.

Somewhere on the screen, you see in teeny tiny print: Results Not Typical. Your Results May Vary!

Of course results are not typical because those results assume that you buy the property for all cash and pay no closing fees and have no monthly costs. Be VERY cautious of deals that you see that sound like that!

In the real world, costs associated with flipping real estate are:

Purchase costs: Upfront mortgage fees, attorneys fees, regular closings fees, title, survey, etc.
Carrying costs: It’s more than just the repairs! When you’re flipping real estate, you’re likely paying higher interest rates than on, let’s say, a primary residence or second home. In addition to the repairs, you’ve got to consider monthly payments, taxes, insurance, utilities, etc.
Selling costs: Again, you’ve got closing costs and possibly real estate commissions to consider.

Whether you’re flipping a real estate deal here and there or you’re looking to make real estate your new career, it’s important that you know – and figure – your costs into your calculations. Keeping this in mind will help you keep from getting emotional (See Tip 4)

6. Keep Track Of Your Progress

You can’t improve what you can’t measure! Throughout the entire project, you’ll want to constantly track your progress. This way, you’ll know, at any given time, where you stand on the deal. This will help keep you focused by keeping the bottom line in front of you all the time.

7. Expect the Unexpected

In virtually every single property you flip, you will run across SOMETHING that you simply didn’t expect. Whether it’s an issue that pops up 2 hours before closing that needs to be handled or a big surprise when you peek behind the drywall that you had to replace! You’ll almost always run at least a little over budget or hold it a little longer than you anticipated. But at the end of the day, you’ll have the satisfaction of taken an ugly house and turned it around and depositing a healthy check in your bank account.

Learn how to evaluate a real estate deal in less than 15 minutes. Get your FREE video on flipping real estate and uncover the top 5 secrets that you need to know to double your profits on every single deal. Get your free video and 5-part mini course at http://www.fixingandflipping.com

Probate Investing Simplified Real Estate Course

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This real estate course introduces students to the basics of probate investing and how to get your probate marketing campaigns up and running quickly.

This training, you’ll discover:

The SPECIFIC “Probate Profit System” that will teach you to dig up mounds of money and create a continuous cash-flow into your bank account — month after month after month… all in just minutes each week.
How to PINPOINT the Probate Decision-Makers — without wasting your time or talking to the wrong people. (It all comes down to this person/persons).
How to effortlessly and automatically fill your Probate pipeline with proven — time tested — marketing tactics and strategies (yes, there is a specific process, yet most real estate investors don’t have a clue)…
5 specific ways to generate ADDITIONAL INCOME without spending another nickel (PLUS… these additional income streams actually help you get MORE PROPERTIES!)
How to avoid the mistakes your competitors are making and DOMINATE THE MARKET by increasing the number of motivated probate leads flowing into your pipeline, negotiating better deals with more equity, and closing more contracts…
…And many many more proven secrets that will help you create your family’s very own economic stimulus plan!

Course contains: 67+ page digital training guide, audio training, probate investing blueprint & process map, unlimited deal review, private probate interview, 7 ways to find buyers training.

PLUS… Probate letter campaign training video. (Learn how I create – and implement – my probate investing marketing campaign)

Training created by Heather Seitz, Real Estate Training Academy