Rapid Real Estate Investing Results

Whether you have been in real estate for a while or are just getting started, identifying your target market or “Farm Area” is critical to your success.

Many real estate investors and Realtors alike will advertise that they can “Do it all, Anywere”.

I’m sure you’ve seen the ads.  “We Buy Houses, Any Condition, Any Area”.

Well, guess what, I’m hear to tell you that they don’t really do that… at least not likely.

That’s merely a marketing campaign to get people to call you.  The thinking is that if you have enough deals coming in, you will find the “Diamond in the rough” and be able to make a deal out of it.  This is simply horrible advice…. here’s why.

1. It’s a complete waste of your time to target a market you have absolutely no intention of purchasing a home in if your an investor or listing a home in if you are an Realtor.  If you get 100 calls and only 10 of them are from people in the area you really want to focus on, you have just wasted 90% of your time.  It takes time to triage those calls.  Yes, even if they are just voicemails.  You still need to listen to them and figure out if they are a potential prospect.  If they don’t leave you any details on the voicemail, then you need to call back and get the details, further wasting your time.
2. Waste of Money – This is also a waste of your marketing dollars.  Wouldn’t it be better to be specific and target an area that you actually do want to buy in?  Now… to be sure, if you have rehab buyers that you can count on, and they want properties in a particular area, by all means, market to that area.  But, again, be focused.
3. Again, waste of your time….  The only good I can see coming of this is learning how to screen callers.  Unfortunately, you might get so frustrated talking to people that don’t own in the area you really want to target, you might stop your marketing all together.

If you don’t know what area you want to target yet, use the following site to look up date about your potential target market.  Punch in a few zip codes and find housing price trends by quarter.  It’s a pretty cool free site to check out.

http://www.city-data.com
Also, if you would like to be notified if I EVER have a potential deal in your area (I get many coming in from my websites that are NOT in my target market) join my real estate buyers list.   I have a very cool tool that I use that allows other investors to see that I have a potential buyer for one of their deals.  So, while I’m in Ohio and you might be all the way out in California or Arizona, I still might be able to help you find a deal that you had NO idea about.  Many of these are likely off the radar type deals, not on the MLS.  Properties that need to be moved quickly and not left to languish on the MLS.  Since they need to move quickly, there are some extremely good deals available only if you get on my buyers list.

http://www.Ohio-Homes.net

Gotta run now.

Leave me some feedback on the post below.

Technorati Tags: Choosing your target market, investing education, real estate investing, Wholesale real estate

If you have a property you need to sell, you should post it on my site.
It’s specifically designed to help facilitate Wholesale real estate deals.

The site is highly search engine optimized and has several people driving traffic to it
on a daily basis. Many rehabbers in several different areas are registered users.
I’m working on spreading it out across the U.S. to make it a go to site for
finding rehab properties and for selling them.

Got a junker property? List it here – get registered
Need a junker to fix up? Find it here – get registered
Want a light rehab to rent out? Again – Get registered
Just want to browse? Go for it – get registered

Why register?
So we can send you updates when new features come out and
remind you when we list a property to go look at it.

===>  Get started by clicking here.

Technorati Tags: investing, real estate investing, Wholesale real estate, Wholesaling Real Estate

OK, two very important things:

FIRST, you only have a few hours left to get Sellpoint
for free.

This is the crazy cool software from my marketing team
that will turbo-charge your listings and SYNDICATE
them out to 40 super-powerful sites.

Now we all knew that Sellpoint was too good to
remain free… but I thought we might have a little
longer.

Turns out it’s been so popular that they are shutting
down the free accounts on Thursday, July 8th at
midnight.

This is the link to get your account:

http://RapidReiResults.com/sellpoint

SECOND, there’s been some confusion about those
free Sellpoint accounts.

Some people seem to think the accounts aren’t
REALLY free, or you need to refer additional people
into Sellpoint to get a free account.

Both of those rumors are FALSE.

This is the REAL deal:

1. You can get Sellpoint for free for 2 full years. All
you have to do is sign up.

Period.

End of story.

Click this link to sign up and register
http://RapidReiResults.com/sellpoint

2. You can also get a LIFETIME free account if you
refer three people who are also in the real estate
business into a free Sellpoint account (before it’s taken down on Thursday.)

It’s that simple. Just go here to get started:

http://RapidReiResults.com/sellpoint

To Your Success,
Marshall

P.S. They say the best things in life are free…
and I totally believe that.

But the best things in your Real Esate business
definitely are NOT free. Except Sellpoint… but
this one’s only free until Thursday at midnight.
So be sure to act now:

http://RapidReiResults.com/sellpoint

Technorati Tags: real estate investing, Wholesale real estate, Wholesaling Real Estate

You can list your properties on our site at no charge at all.
Register for the listing service right here to get maximum exposure
for your wholesale, rehab and retail property listings.

You will be able to post pictures and embed videos for your listings as well making your listing that much more compelling.

This is a Nationwide List of properties with investors and retail buyers looking at it across the U.S.

http://rapidreiresults.com/mkt

Once you confirm your e-mail address so we can keep you posted on developments with the website, you will be redirected to the link to post your property.

Technorati Tags: real estate investing, realestate, Wholesale real estate

Finding buyers is the key to being successful today.

You can’t just stick a sign in the yard and expect to get ANYONE to look at your property.

Knowing how to attract the highest number of qualified buyers is essential.

If you are looking to wholesale a property, you better find your buyers first and find out what areas they are interested in.

I posted an article on my blogspot site over the weekend.

Follow this guide to locate as many buyers as you can BEFORE you go and buy a property that you want to resell quickly, whether fixed up or just to wholesale to a rehabber.

http://realestateinvestingresults.blogspot.com/2010/04/top-five-ways-to-find-wholesale-buyers.html

Some people ask me why a rehabber would ever want to buy from a wholesaler.

It simple….  They don’t want to have to find and negotiate the deal.

Many of the properties you can wholesale are not profitable for an agent to market.

If a house is only going to sell for $10,000, the agent is only going to make maybe $300.

Not much to put effort into.  So, many agents these days are actually buying the properties dirt cheap then reselling them as principals in the transaction which allows them to set the price higher than they bought it for.

You can “PreHab” a property to add value to it for the rehabber.

How do you “PreHab”? This is the act of doing some of the clean up work so your potential rehab buyer is not walking into the giant mess you have found.  They want to be able to see the potential and it’s tough to do when the house wreaks of cat urine.  Think of wiping the canvas clean so your rehabber can see the bones of the property.  If you have very little money, just get the garbage out and clear up the yard.

1. Clean out the property.  (Get a dumpster and hire someone to go in and clear all of the nasty carpet out.  If drywall needs to be replaced, tear out the old stuff.
2. Clear out the exterior.  Pulling out or at least trimming overgrown bushes can REALLY make a big difference.  Think curb appeal.

You might think that the professional rehabber would be able to look past these items.

They can and will, but guess what, if those things aren’t done, the price tag in their mind goes down.
Spruce it up then invite your rehab buyers over for a look.

To your success,
Marshall

Technorati Tags: Wholesale real estate

Property Tax and Escrow tip…
Here is my tip of the week for you.

I have a fairly new house that I bought straight from
a builder back in 2007.
Originally intended to sell it on a lease option
and had someone already signed up for it before
purchasing the home.

Well, the guy was transfered out of state
before he even moved in.
So, we tore up the contract and I refunded
his option fee.

It was the right thing to do.

However, that house has been a tough pill
to swallow for the last year.

As you may know, when you build a new house
the property taxes are based on the price paid for the lot.
They are not readjusted for at least 1-2 years AFTER
the home is completed.  At least that’s how it is in Ohio.

Well, I thought I already took the big hit on my
escrow payment last year, as it went up by nearly $300.

Not cool at the time but the property still cash-flowed so
I didn’t pitch too big of a fit since I knew it was coming.

Since then, I sold the home on a land contract and based
most of the downpayment on the First Time homebuyer tax credit.

A great deal by the way and I highly recommend it to help find
a buyer quickly.

If you need a resource to learn how to do that program,
shoot me an e-mail and I’ll send you some info.
(You only have until the end of April to take advantage
of the tax credit as an incentive.)

But I digress…

About a month ago I received my newest escrow analysis
from my lender.
Guess what, my payment is going up by ANOTHER approx $225/month.

Ouch!!! That is going to cause me to have negative cash flow
on that house.  To quote Michael Scott, “Nope…Don’t like that…”

What do I do now?
Actually, 3 things could happen here.
I can go back to my buyer and adjust their escrow payment.
I can pitch a fit with my bank but they aren’t going to help much…
I can go bitch at the auditor’s office and try to get them to lower
my property taxes.

Or… a combination of all three.

Here is my game plan.
1) I will go back to my buyer because I clearly stated
in the land contract that this might happen.
However, that is NOT going to be my first step.
I will likely warn them this weekend about it but I will not give them
any firm numbers.  I will probably tell them the current number
but tell them I’m going to do everything I can to get that number down.

2) I did call my bank and was a very nice, but confused guy for about 30 minutes with them. (I actually was confused because I couldn’t understand how they so grossly underestimated last years taxes to put me like $1600 behind in the escrow account).  After my lengthy discussion, I managed to get them to agree to allow me to make it up over two years instead of one year.  That will cut the increase in half, so that will help.

3) I will try to call the auditor’s office, but I sort of missed the deadline for that.  Usually they cut those off in February or March.  Oops.  I will still call, as they may have some provisions to allow for exceptions with our current economy the way it is.

4) I am going to coach my buyers into how they can improve their credit score more quickly and get them qualified for a loan faster.  That will get this deal closed quicker and give me the bigger payday faster.

I have about $40,000 of equity tied up in this deal right now that would be better off used elsewhere.    Still taking a hit profit wise, but I will not take a loss on this house because I bought it right… sort of.  I bought it with enough profit… but clearly not with enough cash flow.  Otherwise, I would not be in this situation. 

My big lesson here for you is, when you have a problem come up in your business, map out who is involved and what ALL of your possible solutions are.  Then, go down your list one by one and start negotiating.
You never know what ANYONE is going to say until you ask.  That is why I will be calling the auditor’s office on Monday.

Back to the cash flow topic.
I have decided that I will not be focusing my efforts on single family homes going forward.  Actually, I decided that about a year ago and have laid off them completely.
I’m only looking at multi-family properties where the cash flow is higher and I can more easily afford a property manager to take over the daily crap that I don’t want to do.

I have always known that this was the area of real estate I wanted to focus on, but felt I needed to build up a single family portfolio.  Well, I’m busy trimming that portfolio down a bit now to free up cash and get less headaches. I’m subsequently boosting my efforts in the multi-family and small commercial markets where I can leverage my time and money MUCH more efficiently.

That is why I’m so interested in the Student Housing market.
It offers much higher cash flows in the right markets.
This is not something I’m going to just jump in blindly though.
I’m learning everything I can.
If you are interested in jumping into that niche, Doug Fath’s coaching program is closing down tonight from what I’ve heard.  In fact, he only had about 19 spots left earlier today.

They already had their first coaching call yesterday.
If you don’t want to be left out of the coaching program,
go check it out here.

http://rapidreiresults.com

Not only that, he has a way for you to get in for just $299 today.
That will give you a chance to get in if money is tight right now.
Start learning the program and earn some money in it.

Have a great Easter weekend if you celebrate Easter.
If not, have a phenominal weekend with your family and friends.

To your success,

Marshall

P.S. Don’t forget about the guaranteed funding Doug has for you
(if it’s still available), the iron clad lease agreement, and the
opportunity to wholesale your deals to Doug’s network of buyers.
What more could you ask for in a coaching program?

http://rapidreiresults.com

P.S.S If you have been looking for your shot to really make it big
in real estate, perhaps this is why you joined my list.  THIS might
be your shot… will you take it?  At least go check out those
videos before he pulls all of them down.  I hope I got this to you
soon enough and that you didn’t already miss them…  If you did,
I’m sorry.
http://rapidreiresults.com

Disclosure: I am an affiliate for Doug’s program.  I firmly believe
in this program and it gets my highest recommendation.  I do NOT
recommend products lightly.  This is a niche that I feel very
strongly about myself and thought you might be interested as well.
It’s clear to me that Doug knows what he is doing and this program
is strong.  With that said, if you decide to purchase Doug’s
program through my link, I will be compensated for the referral.
Regardless of whether you buy it or not, you should check out the videos (If they’re still available) and learn from this guy.  He is the real deal.

Technorati Tags: Wholesale real estate

Here is a tip I know you will love and below you will find an 8 step process that you can follow to successfully build your rehab buyers list to be able to sell your wholesale real estate properties.

If you are struggling to find buyers for your rehab deals you definitely need to try this.

Find out who is buying right NOW and where they are buying.  You can likely find this in your local county records or an investor friendly realtor you may know.   (I actually use a software tool that does this for me know.  Leave me a comment if you want to hear about it).

You need to speak with these real rehab buers and find out what they are looking for.

Many rehabbers do NOT want to go digging through 100 properties to find one to rehab.  They have better things to do with their days than to go dragging themselves through dead deals.  You know, things like managing the rehab projects they have going.

Once you find out what they are looking for and where they are looking, find out if they will buy the deal from you if you bring it to them first.  Get a handful of these rehabbers and you will be able to farm deals to them all day long.  They want to know that what you are bringing them is truly a great deal.  Don’t get gready here on your pricing either.  Find out what type of work they are willing to do, how much they want to buy for and go find the deals for them.

Here are the steps.

1. Line up funding through a transactional funding source (Yes, do this first)
2. Find rehab buyers (Cash buyers or cash equivalent are the only ones you want to deal with)
3. Figure out which rehab buyers are the most active and get their buying criteria
4. Find truly awesome deals and get them under contract.
5. Line up one of your rehab buyers you found from above that wants to buy the property and sign a contract with them.
6. Purchase the deal yourself with the funding you lined up from step 1 above.
7. Then close with your rehab buyer either the same day or within a few days if your funding source will allow it. (Some will even let you hold it for 30-90 days if you have a signed contract with your buyer.  This is the type of funding you really need to seek.)
8. Shorter term is better here so the deal doesn’t go South which is why you want cash buyers that don’t need to rely on bank financing and their possible seasoning rules.

Now, obviously, there is more to it than this if you want to build a truly successful real estate wholesaling business.  I’m assuming that you already know how to value a property and know how to figure out repairs.  The above advice is meant for someone that knows how to run with it.  If you don’t know the other steps in the process, you need to learn those as well.

Start building your buyers list now though and get that transactional funding (if you need help with this, leave me a comment below).  As you build your list, you will learn a great deal from the rehabbers you speak with.  They are the most important part of the equation.  They will tell you what they are looking for.  If they don’t, move on to the next one.  Keep their name though.  You might find a deal later that you want to speak with them about.

Do not forget about a rehab buyer that you uncovered just because they were rude the first time you tried to talk to them.   Put their contact information in a database and keep as many notes about them as you can think of.

These guys get calls from people just starting out all of the time.  Keep dripping info to them to show them you are around and still working in the market.  A good rule of them here is to contact them at least 5 times.  That’s an old marketing rule.  Most people will not do business with someone the first time.  They have to warm up to you.  So, keep after it.  Call them, e-mail them if you have legitimately gotten their e-mail address, send them a postcard with a property on it, etc.

Also, don’t miss the webinar tonight where we will be discussing how you can wholesale student housing deals and also get access to Guaranteed Funding.

====> Click here for the webinar registration.

To your success,

Marshall

Technorati Tags: Wholesale real estate

By: Sean Carpenter

You have found your perfect deal. Now you are looking for a government grant or program to help you out.

This all requires a great team. Who is on your side?

My most common response to many who ask the question is that make sure you have a lawyer and accountant who know more than you.

Don’t get into a position where you need to educate your vendors.

Having a quality lawyer can get your deal closed that much quicker, while having a quality accountant can make sure your finances are in order.

A few questions for your potential staff:

Are you familiar with Government Financing?
Have you closed any subsidized transactions?
Do you know anyone from the allocating agency?
At least 2 of the three questions should be “yes” and should help you to make an informed decision. You may also want to inquire about the program you are seeking as well.

Count it as a bonus question!

–

Sean Carpenter is the nation’s leading expert on Government Deal Funding for Real Estate Investors and Developers and has spent the last 12 years both consulting and getting funding for his own deals. I’ll be offering an encore webinar of a special interview with Sean coming up on Wednesday, February 24th at 9:00 PM EST, 6 PM PT where I’ll be asking him about what’s involved in getting funding for your deals courtesy of Uncle Sam.

Find out more and pre-register for the call by entering your name and e-mail address below:

______________________________
Material Connection Disclosure: If you click on a link on this website, you may be using an affiliate link. This means I may be compensated if you purchase something from the company on the other end of the link.

Disclaimer: This is not legal advice or even financial advice. The opinions and information here are written to entertain and inform you of my experiences from Real Estate Investing. I can’t possibly know your financial situation or whether you will have the ability, motivation or determination to put forth the effort that is required to put a system or idea in motion to profit from it.

Before embarking on any business venture, you should consult with your financial advisor, accountant, lawyer and other professionals to help you determine if it is a worthwhile venture and to discuss the risks. I make no claims about how much money YOU will make with any of the information shared here on this site or any other website or e-mail that I may send you.

As in ANY business, your results will vary based on your own knowledge, determination, motivation and financial resources available to you.
____________________________________

Technorati Tags: Foreclosure, funding solutions, government funding, investing education, Loan Mod, real estate investing, realestate, tax credit, Wholesale real estate

Guest article written By: Sean Carpenter

Are you finding deals are getting tougher to close with the new restrictions banks are pushing on applicants?

Is it taking longer to get a deal done? Have you stopped looking for new projects to acquire?

The last year has been a very difficult period in real estate history. Some markets have declined upwards of 50% in value with no light at the end of the tunnel. Not very good news if you started your “buy and hold” in 2007, but will certainly work better for you now in 2010 as you pick properties up for a fraction of their price two years ago.

Not to mention cap rates are heading into the two digits in larger metropolitan areas. For some, this is an area of the market they have never experienced.

So what can we do to get some of these declining assets?

The banks that were lending up to 125% a few years back have either left the market or cap an acquisition at 70% loan to value. The remaining 30% is up to the investor. But raising the 30% slows down transactions and your friends in Congress have attempted to help.

In July 2008, the President signed the Housing & Economic Recovery Act (HERA), which among other things, provided $4.5B to all 50 states, some territories like Puerto Rico and the Virgin Islands, and the District of Columbia, to combat neighborhood declination by foreclosure.

These funds, known as the Neighborhood Stabilization program, were supposed to help investors, both for and non-profits, buy and rehabilitate foreclosed buildings in order to prevent the stable households from losing too much value. In February 2009, Congress added an additional $4.5B to the program, now known as NSP II, to further carry out the NSP mission.

This is nothing new. The federal government has been investing in real estate for years, at least since HUD was conceived during the Johnson administration in 1965 as part of the Great Society initiative.

HUD allocates through the individual States and territories upwards of $20B per year to facilitate economic development and housing activities. Additionally, many states have programs of their own that can match federal funds in addition to over $5B in tax credit programs available to stimulate acquisition, rehabilitation and new construction of real estate projects.

Buying and holding certainly isn’t what it used to be, but now the government wants to help you out more than ever. You just have to know WHERE to find the money and HOW to get the funds.
–

Sean Carpenter is the nation’s leading expert on Government Deal Funding for Real Estate Investors and Developers and has spent the last 12 years both consulting and getting funding for his own deals. I’ll be hosting a special interview with Sean coming up on Wednesday, February 24th, 9:00 PM EST. Find out more and pre-register for the call by entering your name and e-mail address below:

UPDATE: Since this webinar was a few weeks ago, if you register below, I will send you the encore webinar information as soon as you confirm your e-mail address.

______________________________
Disclosure: If you click on a link on this website, you may be using an affiliate link. This means I may be compensated if you purchase something from the company on the other end of the link.

Disclaimer: This is not legal advice or even financial advice. The opinions and information here are written to entertain and inform you of my experiences from Real Estate Investing. I can’t possibly know your financial situation or whether you will have the ability, motivation or determination to put forth the effort that is required to put a system or idea in motion to profit from it.

Before embarking on any business venture, you should consult with your financial advisor, accountant, lawyer and other professionals to help you determine if it is a worthwhile venture and to discuss the risks. I make no claims about how much money YOU will make with any of the information shared here on this site or any other website or e-mail that I may send you.

As in ANY business, your results will vary based on your own knowledge, determination, motivation and financial resources available to you.
____________________________________

Technorati Tags: Build my IRA, Cincinnati Real Estate, First Time Home Buyer Tax Credit, first time homebuyer, funding solutions, government funding, Home prices, investing, investing education, Loan Mod, Out Of Area Owners, private investors, private lenders, private lending, private money, Property Inspection, Property Values, real estate, real estate financing, real estate investing, realestate, Retirement Savings, Short Sale, short sale invest, short sale investing, short sales, shortsale, tax credit, Virtual Investing, webinars, Wholesale real estate, Wholesaling Real Estate

If you are looking for the LATEST in online and offline marketing ideas for your business, you should sign-up for my newsletter.

When you do, I will also send you a 100 Page E-book titled “Beginners Guide to Internet Marketing”. While it is not Real Estate Industry specific, it will give you a great overview of how to use the Internet to market your business.

It is geared more for someone that wants to start making money online, but the concepts translate very well to Real Estate or any business that is not getting enough traffic from their online efforts.

So, sign up below and I will rush that 100 Page E-Book over to you…It’s free, at least check it out.

Technorati Tags: Finding Buyers, Foreclosure, Foreclosure prevention, government funding, Hiring Contractors, Internet Marketing, investing, investing education, Marketing for Buyers, Marketing Properties, Online Marketing, private investors, private lenders, private money, Property Inspection, Property Values, real estate, real estate investing, Retirement Savings, Short Sale, short sale investing, short sales, shortsale, Virtual Investing, webinars, Wholesale real estate, Wholesaling Real Estate