Wherever you’re investing, it’s vital that you have the market information you need in order to make smart, sound decisions. Where can you go to keep your ear to the ground on what’s going on in your local real estate market? Here are some suggestions… 1. The MLS will always be a go-to source of immediate data on critical factors such as properties on the market, asking prices, recent sales, time on the market and much more.  However, you may find that a mountain of raw data only goes so far when it comes to crafting long-term strategies. 2. Personal Read more…

What if you have good credit, but don’t quite qualify for a mortgage loan?  What are some other options to get into a real estate investment on your own credit? 1)      If you don’t have enough down payment for the property you want, a lease-to-own contract may be an option.  Lease-to-own gives you time to accumulate the down payment and qualify for a mortgage loan, while locking in the purchase price. If you negotiate the deal correctly, you can even lease it to a tenant at the same time.  It’s common for lease-to-own contracts to include a premium over and Read more…

When it comes to watching the real estate market, one of the most effective tools you can use is the Internet.  Here are three places to go online for useful real estate information… 1. The Wall Street Journal’s Market Watch real estate section will help you stay aware of national business and economic trends that influence interest rates and the perceptions of buyers and sellers nationally.  Don’t forget local online business news reporting to keep you in touch with your local market, ranging from the San Francisco Chronicle to the Miami Herald. 2. Trulia.com is a real estate site with Read more…

At different times, different investing strategies work better than others. Changing market dynamics mean that a strategy that might work today won’t work tomorrow – and vice versa. What’s working today? A buy-and-hold real estate investing strategy. Why is now such a good time to buy and hold?  Here are a few key factors… 1)      It’s a buyer’s market.Right now in most places across North America it’s a buyer’s market.  You can get rock-bottom prices on high-value properties that are sure to increase in value in the mid- to long-term. Prices in many areas of the USA are below replacement Read more…

Successful real estate investors keep themselves aware of the economic indicators that have the most influence on their markets.  As we’ve discussed the last couple of weeks here on the blog, real estate comes down to the economic fundamentals that influence people’s lives and choices.  Here are the 5 most important real estate market factors to watch. 1)      Demographics create the underlying need for housing and commercial property in your area of interest.  How many people are in the age range and life status with the most need for new housing and job space?  Not just population numbers, but factors Read more…

The economic media is awash in pundits with opinions on every aspect of national trends in the economy and real estate.  But do those opinions and trends apply to the local market?  What’s the best way to stay in touch with what is happening with real estate in your local market? Here are some resources to help you stay connected to what’s happening in your local market, so that you can make smart, sophisticated real estate investing decisions. 1.       Check out the MLS and Chamber of Commerce.  Both these resources will provide excellent data about what’s happening in the local Read more…

You know your budget for your next investment project, and you know where to find opportunities in the area that holds your interest.  Isn’t it enough just to look at the local listings and do the normal due diligence? It’s no secret that, after the last few turbulent economic years, both the real estate market and other economic markets are changing.  Each market affects the others, and can provide leading indicators of what you can expect in the near and long term.  Trends in stock prices influence the attractiveness of real estate investing, while interest rate movement affects the willingness Read more…

Three Presentation Skills You Should Know Getting your offer on a property accepted is what all of this hard work is about. You’ve found a property, done your due diligence work, run the numbers and are ready to present an offer. This is where the rubber meets the road, so to speak. What can you do to give yourself the best chance of having your offer accepted? Well, there are skills in presenting your offer that can greatly improve your odds. Here are some things I’ve learned. If you’ve crafted your offer in the most effective way (see my post Read more…

Presenting information about a real estate project is just a small part of actually learning how to invest in real estate, but it can be a bit unnerving if you don’t have the right skills to do so. Here are three presentation skills that will help you whether you’re in the board room with investors, or at the kitchen table with sellers. 1. Be Confident. Nothing sells better than confidence. You know how to invest in real estate, now show everyone else that you know what you’re talking about. You can build your confidence by simply building your knowledge about Read more…

  The things that make up an attractive offer for a property vary based upon what kind of market we’re in. Knowing the market environment is crucial to crafting an effective offer. If you’ve both sold and bought properties as I have, you start to get an idea for what makes up an effective offer to purchase. But you have to also keep in mind that every seller is unique and has different motivations. Learning to recognize what kind of offer will appeal to a specific seller is an art – one that you will learn over time. That being Read more…