It’s easy to fix up your properties if you have unlimited cash. However, you need to keep your repairs to a minimum to stay profitable. You also need to keep your properties in good shape to attract tenants or buyers. There are the basic improvements, such as carpet and paint, but these can still costs thousands of dollars. Here are some inexpensive ways to improve your properties with very little cash.
Read MoreThe manufactured housing industry is making it possible for millions of families to buy their own home for less than they would pay in rent. A few people have become wealthy by showing them how. It isn’t necessary to quit your job or profession to start a profitable part-time business. But you may soon find you can’t afford to keep your job.
Read MoreThe number one way real estate investors make money is through negotiation, period. Or did you forget that? If negotiations skills aren’t somewhere near the top of your list of things to learn in order to become successful in this business . . . then you need to start on a new list.
Read MoreI came across some interesting figures put out by the Bureau of Statistics and the IRS. Thought maybe some of you would find them interesting, too. Twelve percent of Americans over sixty-five are living, or trying to live, on incomes of less than $5,000. Only four percent of people over sixty-five have annual incomes of $30,000 or more, and only three percent have incomes over $50,000.
Read MoreIn my early real estate days, I’d walk through a house for sale and point out all the defects to the seller (as if he didn’t already know about them). We’d then engage in a sort of tango where I’d say, “It’s a big problem that’ll cost $5,000 to fix.” And he’d say, “No, I’ve got a guy who can do it for 300 bucks,” or something equally ridiculous.
Read MoreWe all have choices in life. We can spend our lives making a living or we can choose to make some real money. Unfortunately, most people choose to make a living. They don’t take time and spend their lives walking over the dollars to get to the dimes. Most real estate investors are no different.
Read MoreLease option deals can be excellent for profiting on rehab properties. Many “junker” properties can be bought cheap, but this requires cash. If you obtain a bank loan, you will be required to put more money down, especially if the property is in serious disrepair.
Read MoreThe headline is absolutely true! I made $20,000 cash in six months on one real estate deal with $100 down, no bank qualifying, no brokers, no risk and no liability. I have done (and I continue to do) many deals just like this one and so you can you!
Read MoreHere’s the big question that confuses many: Can you have real estate investments in your IRA or Keogh? YES. You can. So that was easy, now what?
Read MoreMy 3-Star Program is an excellent way to encourage residents to stay with you a minimum of three years. You enroll tenants in a 3-Star Program at no charge. It’s just like the local grocery stores where I am enrolled in each of their “special” programs. At one store I’m a “Gold Club” member. At the other I am a “MVP” member.
Read MoreIf you’re running short of money, maybe it’s because you’re not asking enough questions–especially when it comes to asking for discounts when you buy something. It’s amazing what results you can get sometimes by simply asking a question. Let me explain what I mean by sharing several actual case histories with you.
Read MoreAre you a burned out landlord like I am? Someone who is just plain sick and tired of dealing with tenants and rental properties? If so, let me share with you how we’ve been able to eliminate tenants, management, and maintenance, yet still get a check (actually two checks) each month. You might want to give it a try, too.
Read MoreA new law, effective on January 1, 1998, has definitely changed the opportunity for real estate investors to effect tax free income in the future. By now, everyone has heard of the Roth IRA.
Read MoreProbably the question I hear the most when I offer to finance the sale of mobile homes is, “Suppose they stop paying?” Hopefully, the following story will answer that question and explain what really happens in most cases. If your buyer pays as promised, you make a good profit. If they stop paying and you get the home back, you make a bigger profit.
Read MoreAlthough John Beck limits his discussion to the State of California, contract law is fairly uniform among the 50 states, and this is fairly basic contract law.
Read MoreFred was like most investors and entrepreneurs; he had no idea that mobile homes could be a good investment and a good money maker. What little he had heard about mobile homes wasn’t very flattering. But he had read a book about how you could make money with them and called me to get some more information.
Read MoreMany years ago, I made an important discovery: The most important thing we can do to improve our income, net worth, and our lifestyle is to do things today that will result in an income stream for several years into the future.
Read MoreRemember, the key to successful real estate investing is motivated sellers. In How to Find the Motivated Sellers (Part 1), we discussed several ways to find motivated sellers. Let’s continue.
Read MoreStill looking for properties? Not me. I’ve given up “looking for houses.” Yes, I’ve just flat out kicked the habit and no longer have any interest whatsoever in that sort of thing. There’s a better way to get those bargain properties into my hands, and it doesn’t involve looking for the darn houses.
Read MoreMotivated sellers are the key to all good real estate deals. Read this sentence again and impress it on your memory forever. Whenever you remember it, you will increase your potential profit, make better deals, put more cash in your pocket, and save valuable time.
Read MoreWith the wealth of information available to the average cat today, it becomes increasingly difficult to determine where you should start in this business. In fact, the more you study, the more confused you can become. It has happened to me, and I’m sure it has happened to you. It’s information overload, plain and simple.
Read MoreLet’s start with the basics. The concept of a “Buyer’s Briefcase” is to have the right forms necessary to “sign up” a transaction at your fingertips at all times. It’s kinda like a salesman with his order pad. When someone wants to give you the order, you need to be ready to sign them up!
Read MoreHow should I buy and sell real estate? What entity gives the best tax benefits? How can I limit my liability? These are common questions posed by both beginning and experienced real estate investors. Here are the answers to common questions about maximizing profit and limiting liability in real estate investing.
Read MoreAs a real estate investor, you MUST understand the power of coupling real estate transactions with real estate paper. By combining the two, you have the ability to out-negotiate, out-maneuver, and outsmart your competition.
Read MoreThere are many ways to make money investing in real estate, and no one technique is the “right” way. Here are some of the most common approaches.
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