Partnership-building starts with this basic principal: BE the partner you hope to have.Real estate partnerships combine different strengths and skills to get a project done.  Partnerships match money needing a project guide with someone who can complete a project.  It is critical to find and establish strong connections with the people who can invest capital and provide services, and the key to attracting their attention starts with your own qualities and self-confidence.   Attracting the right business partners is very simple… always do what you say and say what you mean. How do you do this in a way that Read more…

Economic recoveries spur rising prices in housing markets, but the 2013 recovery has an extra incentive for housing investors – historically low interest rates.   The Federal Reserve has continued to keep interest rates down, adding some rocket fuel to the opportunities available to housing investors today.   Housing prices are on the rise as the economic recovery gains momentum. The rise in housing prices is following the largest housing “bust” in history. Unprecedentedly low interest rates allow investors the opportunity to have ridiculously low mortgage payments allowing for massive cash flow on rentals The Fed is less likely to push Read more…

“Rich Dad, Poor Dad” is the book that first changed the way I used to think about my goals in life and how I might achieve them.  Robert Kiyosaki’s book has been recognized by PBS and Oprah Winfrey, among others.  In fact it is the best selling finance book of all time! Kiyosaki’s ideas have gained traction even with parts of the public awareness that aren’t entirely familiar with the book.  What is the big takeaway that has influenced so many people?   Kiyosaki points out abehavior that isvery different between families that spring from generations ofwealth,the Rich Dad, and Read more…

Hard money lenders, companies that lend short-term bridge loans outside of a bank, can be a huge help when it comes to fix and flip deals, but you have to do your part to make sure the deal works out.  Hard money loans aren’t always easy to come by and if you need one you need to assure them that you will repay the loan. Here are the top three things they are looking for: 1)      A plan. The number one thing hard money lenders are looking for is a plan for making good on the investment. They want to Read more…

What better investing opportunity is there than to be in on the upswing of a recovery? The U.S. housing market today offers an immediate, historic chance for those who make the decision to invest now and be part of making profits from the recovery. And of course, another chance to hesitate…which I’m afraid for those who do will have you saying years from now…“shouldacouldawoulda.”   A few stats supporting the sustainable recovery of the average price of existing homes: Standard & Poor’s Case-Shiller Home Price Index Data of the U.S. housing market shows that over the past year, for existing Read more…

Finding a fix-and-flip property can be tricky. Not all properties are created equal—especially if you are buying a foreclosure or bank owned REO.  It’s worth your time before you buy to carefully analyze the costs and projected profit for these properties. 1)      Take a contractor with you on a walk through. Obviously you should walk through the property a couple times to get a feel for the condition it’s in. Take a contractor who specializes in fixing or “rehabbing” properties and have them give you an estimate of what it will cost to fix up. 2)      Research comparable properties. Find Read more…

The question many people ask is “has the real estate market recovered?”  I think a better question to ask is “should I be buying”? The answer to both questions is yes. The reason you should still be buying everything you can get your hot little hands on is because real estate is still below replacement cost in many areas. But, even if it is not below replacement cost in your area, the average price right now is still at historically low levels. On top of these historically low prices, we are also sitting with  the lowest interest rates in history. Read more…

As many real estate investors have discovered, flipping a property isn’t an exact science. There is no set formula for fixing and flipping success. Sometimes it may even seem like luck is the biggest factor when it comes to making a profit, but this isn’t the case. While there is no one way to be a successful flipper there are a few common mistakes that you can easily avoid. 1)      Over-remodeling for the area. This is the most common mistake by far. You may have an awesome vision of granite counter tops and slate flooring, but if your property becomes Read more…

Remodeling and updating a property is one of the best ways to get a property market ready. However, if you aren’t careful you can end up spending more money than you will recoup. When remodeling you need to keep your bottom line constantly in mind. Try these three tips to help you save when remodeling: #1 Paint. Paint is cheap and can do a lot to update and freshen up any space. Get a medium gloss so it will clean easy and pick a neutral tone that will work in every room. Many contractors choose white, but a taupe for Read more…

The other day found us fantasizing a little bit. Yes, we indulged in just a bit of fantasy about money. And more specifically, a money tree. If money grew on trees think about how many projects we could finance. Think how awesome you could make every property look if you had a money tree.  Unfortunately, as we all know, money doesn’t grow on trees.  So we finance. Financing is a sometimes frustrating but almost always necessary part of the fix and flip process. It doesn’t have to be painful, though, if you follow these easy steps: Step #1: Learn about Read more…