Archive for July, 2008

 If you are new to real estate investing, you may need loans to pay for your first investments. You have many options, including residential loans, commercial category loans, and other financial solutions.

Real estate investment loans are essential for many beginner investors. If you’re just getting started in real estate investing, you may not have the profits and capital yet to start reinvesting the money you’ve made into real estate. If you’re like many new investors, you’re likely either just moving away from or are still working at a job in which your income is directly tied to the amount of time you spend at your work. Hourly wage type jobs rarely give you enough money to start investing in real estate heavily. In fact, many investors start investing in real estate because they want to get away from the limits of a wage based job and start pursuing the real freedom that comes from passive income.

Real estate investment loans are the solution. You can find these loans through a number of sources. Credit unions, savings and loan associations, savings banks, commercial banks, insurance companies, mortgage bankers, finance lenders, mortgage trusts, investment trusts, and pension funds and all resources to get financing for your real estate investment. Even private individuals can offer loans specifically created for the real estate investor.

There are in fact two types of loans that you may be interested in as a real estate investor. These are commercial and residential. Residential loans are often called Non-Owner Occupied (NOO) loans, and these loans are used to purchase investment properties which are to be used for rental income and eventual appreciation. Usually, you get these loans for properties that have less than four rental units. Commercial category loans are used to buy commercial apartment buildings, or any type of apartment building with five or more units. If you want to buy stores, mixed-use buildings, warehouses, and other commercial buildings, a commercial category loan is also ideal. In both types of loans, the interest of the loan is paid from rental income. For both types of loans, your ability to secure a loan will depend on your credit scores, reserves, and your income. However, even if your income is small and your credit scores are not ideal, you may be able to still secure loans if you can show that you have a good business plan and tenants ready to take residency in your investment properties.

Real estate investment loans are provided, often with no limits, as short-term loans, interim loans, or long-term loans. If you are in an urban area and want to flip homes, hard money loans are often the best choice, especially and if your credit is not perfect. If you want to stay away from flipping houses, you have many other options, including equity financing, mezzanine financing, construction loans, structured financing, bridge or interim financing, and residential repair funding. Speak with your lender about the best options for your specific situation.

 

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While some investment seminars and workshops are very useful, be wary of one-time-only special deals sold through high-pressure tactics. Some seminars are run by people who don’t invest themselves and who use the seminar as a form of marketing for more expensive products. If you want to invest in a real estate seminar, ask lots of questions and research before signing up.

Today, you see ads for investment seminars in local newspapers, on late-night TV, and in magazines. Most of these events promise to tell you everything you need to know to start investing in investment properties. Many of the ads use high-pressure tactics, demanding that you secure your reservation because a particular seminar is available for one day or because seats are limited.

Although many people end up buying these seminars and workshops that promise to teach you everything you need to know about investment properties, the question remains on many would-be investors’ minds: are these seminars really worth it? The high-pressure tactics and vague promises of many of these ads certainly give anyone with a smidgen of common sense pause.

In fact, the worst seminars are little more than long-winded advertisements for a presenters’ products. It can be upsetting for a would-be investor to show up at a seminar — for which they paid hundreds or thousands of dollars — and be told that in order to learn success secrets they must purchase some tapes, CDs, books, or other products. Worse, some of these seminars present information that can get you into severe legal trouble.

If you’re interested in one of these seminars, one of the first things you want to do is go over ad claims with a fine tooth comb. This can be tricky, since many of the ads make use of very vague and slippery language. However, look for specific claims. For example, if someone is being presented as a real estate expert, look into their credentials. Do they just write about real estate investing, or do they actually have real estate investments? Can you verify that they actually own as many properties or are worth as much as they claim? It’s hard to believe, but some real estate seminar leaders make claims that are simply not verifiable. That’s because in some cases they are stretching the truth or telling outright falsehoods in order to get you to sign up.

Another thing you want to do before signing up for any seminars about real estate investing is to look at the actual moneymaking ideas that are being presented. Look for references to specific types of investments. Are these investments legal in your area? Are they feasible for a new investor? Do they really work? Many ads avoid mentioning any sort of information about the specific techniques presented. That’s because some seminars present little more than obvious facts you can glean for far less from books and magazine articles. If you’re not sure exactly what sort of information is being presented, ask for more details or look for a more reliable class, course, or seminar.

Keep in mind, too, that even though seminar marketers promise that you can’t get started in real estate or in investment properties without their help, there are many options for learning about real estate. You can join a local investors club, read books about real estate, learn by trial and error, take courses with qualified real estate professionals, and much more. You don’t have to feel pressure to sign up for a seminar, since there are so many ways that you can get a real education in real estate investing.

 

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If you want to start investing in properties, that means you need a solid strategy. To develop a winning strategy, work on paper, doing the math as to what you can afford and what sort of return you can expect. Work with professionals who can help you understand whether your ideas are realistic.

 

Today, more people are interested in becoming real estate investors as the economy starts to look increasingly shaky. If you approach real estate correctly, real estate investments can benefit you financially in several ways. For one thing, real estate can provide you with a nice steady income that can help you pay for your expenses independently of your income (which may not be as secure as you would like to think in a recession). For another thing, real estate investments can provide you with an asset that appreciates slowly over time, allowing you to always have a form of equity you can capitalize on in an emergency.

 

Many would-be real estate investors shy away from investments because they assume that it is easy to lose your shirt in real estate, or because they assume that taxes will eliminate all profits from the deals. While it is true that you need to be somewhat savvy about taxes, real estate investments can still provide you with a nice income today and well into your future.

 

In order to become successful in real estate, though, you need to plan carefully in order to understand your tax situation when you start investing and in order to understand your income. The best way to work through it initially is to work on paper, checking over the numbers again and again. You’ll need to figure out what sort of real estate investment you are interested in making, and then you need to start planning what sort of return you want on your investment. If you have a real estate agent, that professional can help you understand how much of a loan you can expect to get, what sort of rental costs you can expect to see, what sort of operating expenses a particular property might incur, and what you can afford to pay for an investment property. A real estate agent can also help you understand zoning laws so that you don’t fall into the trap of buying a property that you can’t rent out in the way you imagine.

Once you know what you can afford in an investment property and what you want to do with the property once you buy, it’s time to join the ranks of real estate investors. That means it’s time to start searching for an investment property. As with an sore of real estate, the most important factor you will need to consider is location. You’re looking for property that is in an area with plenty of renters. Even if you plan on reselling your property, its value wil be greater if it can be rented out in part or whole. Plus, areas with good rental markets generally appreciate quite nicely. What’s a good rental area? Usually, it’s an area code close to major amenities, close to schools, and close to public transit routes. Rentals are often quite lucrative in areas close to major universities and in downtown cores.

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Just yesterday I wrote to my clients about the newfre’e training video titled…

“How To Find All The Motivated
Home Buyers You Can Handle!”

I have been overwhelmed by the amount

of response from my subscribers on this!

Now it’s time to share this with you..It was produced by my friend and 3rd

generation real estate investor Mark Walters.

Considering his family’s been investing in real estatesince 1937, they’ve experienced many different

real estate markets and they’ve found ways to

prosper in all of them.

The truth is that under some conditions you

need the skills to find motivated sellers (like

the previous few years)…

And other times the secret to success is

understanding how to find home buyers

exactly when you need them…. LIKE NOW!

In his new video, Mark spills the beans

IN DETAIL on the techniques that are now

working in today’s new real estate market.

Without this highly targeted training you just

won’t be able to cash in on one of the decades

most exciting real estate markets.

With the flood of foreclosed homes in today’s

new real estate market, it’s CRUCIAL for investors to

know the ways to find motivated home BUYERS!

Finding honest to gosh home
BUYERS is a skill that has

been unnecessary for so long that most investors just

don’t have a clue how to do it.

Look… for the next few years it’s going to be a snap to

find motivated sellers willing to sell at deep discounts.

To Massive Profits

Brad Wozny

P.S. A WARNING! Don’t buy properties if you don’t know how to

sell them! Some will pay dearly for making that mistake.

If you don’t understand how to find a buyer for every

great deal you find… you will be passing up thousands

of dollars in profits.

Mark has made it easy to learn by simply watching his

very understandable fre’e
video training that you can find here…

You’re going to love this!

If you want to make lucrative real estate deals, you need to surround yourself with successful investors and a power team of CPAs, lawyers, contractors, title or escrow companies, mortgage brokers, and other professionals. You will also want to get into the habit of pre-screening sellers for level of interest.

 

Whether you are new to the real estate investing game, or whether you have simply hit a bit of a snag while investing in local real estate investment properties, here are some techniques that can help you revitalize your real estate business:

 

1) Surround yourself with successful real estate investors. People who are not investing in real estate may belittle your dreams of building an empire, or may try to “warn” you about the possibility of losing your shirt. In many cases, these people are simply afraid of the possibilities. Even some well-meaning friends can inadvertently rain on your parade. In order to get the support you need, join a local real estate investment club. If there is no local investment club where you are, form a group that meets once a week. You need to surround yourself with people who understand the investment business and who can even guide you to local real estate investment properties.

 

2) Grow your own power team. Before you ever put together your first deal, find the team members who will help you make that deal a success. Before you ever buy a property or start investing, you should find an attorney who does real estate deals himself or herself. You’ll also want to find a title or escrow company that caters specifically to investors. You’ll also want to find a CPA who owns real estate and understands investments, and an insurance agent who understands tenant contracts, landlords, land contracts, and so forth. Before you start buying properties, also find a mortgage broker who’s experienced with investors, and a contractor who can provide you with free estimates and who understands flipping houses. Even if you don’t intend to flip properties, knowing an investor who knows which rehabs make the most sense for a resell is priceless. Finally, you might want to find a partner you can turn to in case you need money or advice. You will notice that the common denominator here is that all these experts must either invest in real estate themselves, or must help real estate investors. You simply will not get the same quality of help if you select a general CPA or a general attorney, for example, with no experience in investments.

 

3) Don’t waste your time with sellers who aren’t interested. Some investors will spend a lot of time researching local real estate investment properties before they even speak to a seller, and this is a mistake since it ensures that they waste a lot of time. Always talk to the seller over the phone before you do anything else first. It’s the only way to know whether you even have a chance.

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