₦airaland Forum

1. Money is made at the buy, not the sell of your flip. When flipping a house your money is made at the purchase not at the sell of the house. So, many times people buy a house with the intensions of making a huge profit only to find out that they could not make any money after all the renovations because the purchased price of the house was to high. When you purchase your property you need to be sure that you buy the house with enough money to make renovations, have carrying cost, and add about 5 $6,000. Now, cost is at $147,000, and that is if everything goes as planned. Profit is under 10,000 dollars. The mistake was made at the purchase at the home, not the sell.


2. Get an inspection on the home - Get a complete inspection done on your property. By, spending a few hundred dollars on this expense you can save thousands in problems that you cannot see. Foundation, Pest, Wood Rot, Etc... By, getting a full inspection you can rest assured that you know every thing that is wrong with the property before its to late. In the contact for the house you need to make sure that you have 7 days to have a inspection preformed, and if the inspection finds problems that are going to cost more money that you are willing to spend you can get out of the contract with no penalties.

3. Don't do the work yourself: - Get a contractor or several sub-contractors and have the work done quickly. You need to have you house flipped ASAP, so that you can get it on the market and get it sold. When I started flipping my brother and me did a house together, and we did all the construction. I had a construction background and figured it would save thousands, but it took us over 4 months to get the work done that a contractor could have had the work done in a month.

But, we trying to save money on our flip did all the work on our time off and after work, and it just took to long. On our 2'nd flip we used contractors for almost everything and had the house completely flipped with a new roof, new air conditioning, new hardwood, and much more in only 3 weeks. We did not have to spend all our time working on the property and were able to spend that time looking for the next deal. This is how you get rich in real estate.

4. Place the property 1 to 2 percent below market value: If you are wanting to flip real estate and make money the object is to buy and sell the property as quickly as possible, so that you can move on to the next house. If you purchase a house and try to sell it at top dollar to make and extra couple of thousand dollars on your flip, and end up holding it for 6 months you are loosing money. Get the house on the market at a price that is going to blow the competition away, and you will sell it no matter what the market conditions.

On our second house the market for selling house went down do to the housing market as a whole, and the tightening of the loans across America. We were told that you could not sell a property in this market, but we went ahead anyway and flipped our house. After 3 weeks on the market we had 3 people wanting to buy the house. Why, because we offered it at such a great deal that people wanted to jump on it. That is what you have to do especially if the market is slow.


5. Use a real estate agent - Do not try to sell you house on your own. Harness the power of a real estate agent and the power of the MLS system. When you do a FSBO you are depending on people driving by your house and seeing you sign, with a real estate agent you have some one actively marketing you house to get it sold. Once again this will free up more time for you to look for more great deals. If you want to help the process I have found that craigslist and listing you house in google adwords help to, but I use these tools with the help of a agent to make sure I have all my bases covered.

I hope this article has been helpful with the basics needs of flipping a house. If you will study and learn you will make money. But, do your homework before you purchase a house, and make sure that you can pull a profit on your deal. Then, make it happen!

Source "http://investingonabudget.com/5-things-you-should-know-before-you-flip-a-property/"

Check Out This Real estate article Here "3 Surefire Ways To Sell Your Homes On Steroids, While Other Investors Can’t Give Away Their Homes"
http://investingonabudget.com/3-surefire-ways-to-sell-your-homes-on-steroids-while-other-investors-cant-give-away-their-homes/

So you need to sell your home?

Before, I share my 3 steroid ideas on selling your homes; you need to take a few simple steps...

PREPARATION

1. You need to locate and interview an aggressive Mortgage Broker, very knowledgeable, with a GREAT TRACK RECORD of closing deals, especially difficult ones.

I cannot stress enough the importance, of having a great broker on your power team. I own and run, the R.E.I.A. (real estate investor club / www.tcreia.com) in my area, so whenever I hear a member, say they got a difficult deal closed, I always make sure to inquire for an introduction, because this might be the broker who can get most of my deals funded.

Remember, you can sell a home ten times, if you can't get the buyer funded by a mortgage company...who cares, your wasting your time.

2. You should make some effort in fixing the home up; even if it's a hunker, I'd still get the lawn cut and maybe throw a coat of paint on the property. You'd be amazed at the improvement to even an ugly property, with a simple coat of paint on the front of the property.

3. Go to your local community financing office or local grant and home buyer bond office. For example in my area (South Florida and Palm Beach County), both counties run a FREE class for your buyers on becoming a first time home buyer and when they take the class, they then get a voucher from the county, giving them $10,000.00 toward the purchase of their first home. The best part is sometimes the loans are even forgiven, when certain criteria are met by the new homeowner.

LET'S DO SOME MARKETING ON STEROIDS

Let's be frank, your going to have to be more aggressive, smarter and persistent than 99% of all your homes neighbors.

There's no magic pill, but this has been working for both my students and me, for the last year, and we're always testing and fine-tuning the system.

And I can tell you, that while every other investor, is sitting with their heads in their butts, my students and I are able to sell all of our properties, during one of the worst RE slowdowns in history, and this is in South Florida, one of the most depressed markets in the Country,

1. Buyer First System

Basically you create your own buyers. The best example would be converting a lifetime renter into the American Dream a homeowner. Just so happens, that while becoming the American Dream, they also end up buying your home.

Very simply, create a flyer or postcard, and market to communities of people who would be a great prospect to buy your home.

Who doesn't want to be a homeowner in America? Nobody, that's a stupid question, everyone wants to be a homeowner, and it's bred into us as kids.

The real key is you must understand, that these individuals renting, most are under the impression they CAN'T get a mortgage. They might have tried in the past, and we're shutdown and embarrassed, only to believe they would live the rest of their lives as a RENTER.

These are the best leads you can focus on, because it's not a matter of IF they'll buy your home, they will, the key is can you get them funded or is it the right house for them, financially affordable.

I must also share with you, this strategy will take some of your time and initiative, because their is hand holding involved, mortgage brokers, and helping them get any government help in First time homebuyer money.

2. Fish in some one else's pond!

Go where the most prospects are for your home. I'll give you some examples, you need to go where the most and the best prospects are to buy your home, assuming it's a good deal (priced right, and there's still built-in equity for your buyer).

If you have any contacts or a friend of a friend, now is the time for using it and your expectations are for these contacts to open doors for you, to their sphere of influence.

For Example, one of my students, Courtney, leveraged a contact he had, his cousin (she was a middle school teacher), and she introduced him into the schools, where it just happened that the schools are in the same area, that he was selling a great starter home.

He sold the home that he needed to the most, but then, once word spread of what he was able to do, the rest of the teachers came out of everywhere, wanting him to help them. He's since helping the 1st teacher, sold another 5 homes, to 5 different teachers, earning him over $30,000.00 for this simple, leveraged relationship.

So what ponds can you fish in, with your marketing? Think about whom you know (friends, family members, and associates)?

BEST: Teachers, Cops, Firefighters, Government Employees, Bus Drivers, Department of Transportation. (These careers are loved by lenders, they mostly have good credit, and their income is basically guaranteed and very stable.)

GOOD: Large local employers: Supermarkets, Local telephone company (Bell South), Home Depot, Wal-Mart, etc.

3. Use the Internet...

You should definitely have an individual website for your property.

You can get a simple site built for under $100.00.

ü Use www.elance.com or www.rentacoder.com : Two great sites, for getting your site created, they are both similar to EBay. You post an auction about your project (your home website), and then companies bid on your job, and you get to see samples of their work and read all their feedback, after you decided who wins your job, you choose a winner. Oh by the way, both of these services cost you nothing, their completely FREE. ü Take some pictures with a digital camera of your home and you'll end up emailing them to the site designer, to post on your site. You Treat this as an online, digital brochure, basically being able to do whatever you can conceive. ü You can take a video of the home, with you walking through the home and then have it placed on your site. If you're intimidated by video, like I was at first, don't be, because your web site designer can do it for you, very easily.

Now, when ever you talk to someone on the phone or in person, they can quickly look at your property, on the web. This will be the best $100.00 you'll ever spend on marketing of your home.

4. BONUS: Promote and hold your own, "First Time Homebuyer Seminar".

Before you say anything, I don't expect you to be Tony Robbins, if you can get 10 to 15 people in a room, your going to be successful.

We shared this strategy with my mentoring students, and it's been working excellent for them, from the results I've been receiving back from my future millionaires. In fact, one of my students from Miami, Alex, has been executing this strategy like gangbusters.

Before writing this article, I received permission from Alex to share some of his feedback with you, on the Homebuyer seminars that have been very successful for him.

He's now doing 1 a month, every month. Also, since he's has a few successfully under his belt, he's now selling sponsorship space to his seminars, to Mortgage brokers, credit repair companies, and he's even worked out a joint venture with two different realtors, whom pay him for every property they sell to one of his prospects.

If you're curious how he's filling the room, all he's doing is as follows...

-Flyers in Parking lots, I.E. Wal-Mart, Publix Supermarkets, and local churches.

-Free Advertising on www.craigslist.com

-He uses bandit style signs on the side of the road, 18 x 24, corrugated plastic signs.

-He's even put up a website that the attendees, can pre-register for the seminar. (Sorry, he didn't want me giving out the site, for obvious reasons)

-He also is giving them an ethical bribe for attending the seminar; he gives them a few nooks and tapes just for making it to the event. The best part is he received the books for free on the internet, and he's also allowed to give them away for free and even rebrand them as his own books.


Source "http://investingonabudget.com/3-surefire-ways-to-sell-your-homes-on-steroids-while-other-investors-cant-give-away-their-homes/"

The dream of owning a vacation home in some sun-drenched overseas location is one the majority of us share, and because real estate proves itself time and again as a solid long term investment commodity, many more people are committing to purchasing real estate abroad as an investment that they and their family can also enjoy and benefit from.

When buying a vacation home abroad there are a number of key considerations to bear in mind to avoid some of the traps and pitfalls sometimes associated with buying long distance and in an unfamiliar country. With these 5 tips for overseas vacation home buying success you can quickly cut a swathe through the research process and move towards securing the dream swiftly and securely.

Tip One – Learn the Rules and Regulations

Different countries have different rules relating to the right or otherwise of foreign citizens to own the freehold title to immovable property. Some widely publicized destinations don't allow foreigners to directly own the land on which their property sits (Bulgaria) or more than one property (Cyprus) for example, and some countries are less economically or politically stable than your own which can mean that real estate related rules and regulations may change in the future. Make sure you're comfortable with the workings of the country you're considering buying a vacation home in, and if in doubt seek professional advice about that country and the ambitions you hold for owning a holiday home in it.

Tip Two - Good Investment/Bad Investment

If you're buying a vacation home with a hope that it will go up in value and be not only a family retreat but a great asset, know that real estate, just like any investment commodity, can go down in value as well as up. Furthermore not all countries have a real estate economy the same as the one in your own country – a little research would be wise into the historic nature of the property market in your country of choice as well as predictions for its future. While such data is not a direct indication of how well your investment will perform it will arm you with more data to hopefully make your decisions easier.

Tip Three - Title Deeds and Legalities

Legal systems and the title deed registration process differ from country to country therefore know your legal rights and try and find out about the essential searches, surveys and title deed checks that need to be conducted before you should commit to buying your overseas vacation home. Never enter into any form of contractual agreement without the direct assistance of an independent lawyer and never accept someone's word that a vacation home has its permissions and title deeds valid and up to date. Insist on seeing and checking all important facts and data before signing on the dotted line.

Tip Four - Accessibility and Desirability

If you're thinking about making an income from your vacation home or even hoping to holiday in it yourself regularly, one of the most important factors to bear in mind is the accessibility or otherwise of your vacation home. If your real estate is difficult to reach, with many miles to traverse and complicated and expensive plane journeys to plan, then it will just become a less desirable commodity over time. While a vacation involves getting away from it all and escaping every day life, a vacation destination and home should be easy and affordable to reach.

Tip Five - Enlisting Assistance

Consider enlisting the help of a reputable real estate agent, an independent lawyer and if you want to make money from your vacation home, a property management service. Such professionals can save you time, effort and money and they can make the whole process of buying and owning a vacation home that much simpler. Make sure you take references, examine credentials and see qualifications before employing anyone to assist you however, and if at all possible seek recommendations because anyone who does a good job will always get good press!

So you’ve seen your umpteenth infomercial with the guy in his neatly pressed button-upped white T-Shirt grinning ear to ear waving his rock-solid no-money-down rags-to-riches real estate investment course for 3 easy payments of a gazillion dollars (but only if you call now) and now you are thinking, "wow this looks like a great deal, I better get it fast before the special offer expires." You notice how there’s always a special offer? Anyway, I am not saying this guy isn’t telling the truth, however regardless of which course or school of thought you buy into there are several key areas that one must avoid when engaging in any real estate related transaction.

Pitfall Number 1: Don’t Overpay!

The whole point in investing is to find properties that are undervalued. How does one find out what is undervalued versus overvalued? Without getting into technical details, the bottom line is you need experience. Yes much like shopping for anything else, real estate is essentially one of the highest ticket items in the shopping center of life. It’s advisable to stick with one market, perhaps the one closest to you in proximity as a starting off point. Through your experience and asking the right questions, you will eventually have a feel for the pulse of the market you are looking after, and of course identify what is considered a good buy.

Pitfall Number 2: Know the Market

Yes, you are actually going to have to do more work! This part is really common sense though, but executing it where the beauty and the payoff comes in. How do you make money in real estate? The most basic way is to buy low and sell high. So from the first step, you have identified general trends in the value of homes, and are pretty good at spotting undervalued homes. Assuming you acquire that home, you may want to profit from it by selling it off to someone else for a higher price. How can you do this? Well there are many ways. For one, most markets appreciate in value over time so if you want a longer term approach that will work. Making upgrades to the property will automatically raise the price of the home as well. Think in terms of what the market wants, not what you personally want. You aren’t the one buying it; you are trying to sell it to someone else for a higher price than you bought it.

Pitfall Number 3: Know Your Budget

It may be a fine philosophy to go through life on a whim, but real estate is serious business, and thus diligent financial planning and budgeting is critical to your success. Don’t worry you don’t need to be a finance geek, however you need to be disciplined and know your budget from the onset, or you may be finding you are learning that you need to make certain renovations or upgrades, and didn’t anticipate it going over to a certain cost. Think ahead as to what is needed before actually going forth with investing in real estate.

To Your Success!

Source "http://investingonabudget.com/3-pitfalls-to-avoid-when-playing-in-the-real-estate-game/"

You got it right my friend!

player007:
Trust me, making a woman fall in love with you is easy(in some ways) but making them STAY in love is the hard part.
Because most times we tend to forget that there was a reason why she fell in love with you in the first place.

Women masturbate just as much as men!

With media creating hype twenty four seven, and the pressure that we face on that same timeline to always look our best, it's no doubt that their is soo many 'after-market' ways to make ourselves look better.

We've been made to look one way, in the image of our creators (thanks mom & dad); inyet we find ourselves looking to enlarge or reduce parts of our body, change the color of our skin and eyes, among heaps of others modifications just to fit into what society deems to be desirable. You would be hard pressed to find someone that hasn't been caught up in this meaningless cycle at one point in their life.

I've been in it, heck - I still am in it. I think their is a fine line to be walked with taking pride in the way that you look, without becoming obsessed with it. Wear respectable clothes, brush your teeth, maybe do your hair every once in a while, and for goodness sakes a daily shower, whether you need it or not, goes a long way.

There is soo many different treatments and surgeries out there today, that I think it's easy for us to overlook how ugly society is really making us. Here is how I'm looking at:

- Conservative - Keeping good hygiene through daily showers, deodorant,etc.
- Riding the line - Getting hair removed by lasers to avoid having to shave excessively
- Extreme - Different surgeries both cosmetic and not

It's when you are debating getting into the extreme side, that I think you need to step back and think twice to yourself about: "How ugly has society made me". If you're willing to go under a knife to change the way you look, society has done something ugly with the beautiful baby that your parents first brought into this world.

It's essential to always have a level head on yourself, and to love yourself for the way that you are. It's overwhelming the number of people that think that make-up and surgeries,etc are going to change their life. Insecurity and lack of confidence shines through though, and you are still the same on the inside. Beauty is from the inside out!

- I Am Love 2

Just give the money to people who needs it!

That's a question we really don't want an answer too..

The avenue to Romance is littered with roadkill hearts and unrequited love. If you think you're unique in your loneliness, think again. There is enough dashboard pounding out there to start a global orchestra of dire distress. But don't despair. Before you spin out of control, deploy the airbags fast. These strategic maneuvers should cruise you back on track:


"I don't get it!..."

"I've a nice car. I'm accomplished. My A-List CV make the next guy look funky. I even
wear the latest Armani! Why doesn't she flip for me? Why am I always alone??"

STOP!

How many times did you pound the dashboard of your Corvette bewailing this persistent question?

The avenue to Romance is littered with roadkill hearts and unrequited love.If you think you're unique in your loneliness, think again. There is enough dashboard pounding out there to start a global orchestra of dire distress.

But don't despair. Before you spin out of control, deploy the airbags fast. These strategic maneuvers should cruise you back on track:

1) Dress to Kill - all the time: No I don't intend that You wear that $5000 suit to the grocers or the Rolex to walk the dog. What I want you to do is is to dress decently each time you hit the streets. Dab on some cologne. Be neatly shaven. Men, women are everywhere. If you dress with flash only at the bar or the party, you're missing out on 95% of eligible women. Some of the best relationships were forged during chance encounters at the bus stop.

2) Bedroom Eyes - When exploring new relationships with that sexy stranger, intensify the eye contact. Lock deep into her pupils. Let the rest of the world disappear even as a horde of supermodels troop by. You will naturally thrill her with the attention as she experiences the tendrils of growing attraction. Ethnologists have a term for it, the copulatory gaze. Get your eyes even sexier by enlargening your pupils. Dr. Hess concluded that dilated pupils are far far more attractive to women after he presented hundreds of assorted pictures of men to test subjects. How does one get the pupils popping? Simply gaze at the most alluring parts of her face and fill your mind with loving caring thoughts. Your pupils naturally grow, endowing you with irresistible eyes.

3) Visual Caress - Get your eyes do some facial travelling as you chat. Linger a bit on the nose, traipse across the eyes and rest at the lips. Drink in her facial features as though you were admiring the Mona Lisa. She will delight in the attention!

4) Easter Eggs - Stumped at having nothing to say? Listen carefully for easter eggs as you talk. These are unusual words of phrases that she utters. Ask her to expound on it. Say "What's the story behind that?" or "How do you feel about that?". Women love to be probed for their opinions and their feelings. Gently bring out her emotions with sensitive open-ended questions.

5) Keep it Adrenaline Charged - Men talk facts: stock figures, bill payments, and boring engine specs. Women are different. They delight in FEELINGS TALK: how the new dress takes them to 7th heaven, how that special meal got them all giddy with ecstasy, how their shopping expedition drains their deepest problems away. Leverage this by steering away from facts talk. Pick out emotionally charged subjects and ask her how she especially relates to them. You'll be her new confidant!

I know what you're thinking. It's all common sense! That's true, but ask yourself this: how many of you actually practice this? Be honest.

Get out there and be the man women loves. Use your common sense!

Author of a very good investing blog who is also a romantic -

That's wrong!