Calling all real estate investors – both experts and complete newbies alike!
If you’re an expert or just have a lot of knowledge about a specific area of real estate investing, we’d love to help make you famous! We’re searching for people who can write short articles (as little as 300 words) which will be posted here on FreeRealEstateTraining.com. You’ll be given full credit for the article and we’ll happily provide a contact mechanism so that people who read your articles can reach you. Plus – you’ll be the star of your own video (read on)…
And if you’re new to the real estate investing world, I definitely want to hear from you. You may think you have nothing to offer, but you’d be very wrong. Here’s what you can do: I’d love to have you send in a description of the 2 or 3 issues that have proven most perplexing for you in the real estate investing business. What you send in is up to you: It can be as short as a sentence or two describing the issues you’re facing, or you can write multiple paragraphs about the challenge and what you’ve done to overcome it. Doesn’t really matter if you’ve figured out how to solve the problem – that’s what we’ll help you to do.
Plus – you’ll be the star of your own video! (Read on)…
All you have to do is to submit your articles/questions/comments, and we’ll actually create a video around your thoughts. We’ll gladly give you full credit for your ideas, and we’ll feature these videos prominently on FreeRealEstateTraining.com. Additionally, we’ll make sure that they get listed in the search engines so that it’ll be very likely that people will be able to find your videos by searching for your name!
So if you’re an expert -or- a newbie, now is the time to take the leap to the next level, and I can help you! There’s ZERO charge for this – it’s a way to both provide more useful content for my valued readers, and to help you become better known and bring more attention to the issues that concern you.
To submit your ideas, just give me a very brief summary in the comments box below. And please don’t worry about other people seeing your ideas and either copying or criticizing them – I’ll make sure that the only person who can actually see comments below is the person who put the comment there to begin with. (In other words, the ideas you enter below won’t be available for public viewing. Note – we’ve received many really great ideas and submissions already, so you’ll be in very good company.)
So if you’re an expert in any area of real estate investing, enter your article content idea below. And if you’re facing challenges in the business, describe those below, too. Either way, you’ll be better off, more famous, and better prepared for real estate investing in 2008 and beyond!
Enter your ideas/questions below, right now–
The biggest challenge I have faced as a real estate investor is finding qualified buyers for homes due to the tightening of credit by the banks for buyers. Owner financing concerns me because I am worried borrowers won’t make their payments and I’ll end up paying tons of money to foreclose, then have to sell the house again. If I rent a house, I’m concerned if the renters want to buy the house that they won’t qualify with the tighter mortgage requirements. This uncertainity is preventing me from being more aggressive in acquiring properties.
I have a short article that focuses on what is happening demographically and encourages newbie investors to take advantage of these facts.
REHAB YOUR INVESTING REAL ESTATE CAREER IN 2008
By Shari Meier Copyrighted 2008
When asked, “How is your rehab investing business starting out for you in 2008?” Too many investors are disillusioned. Common complaints are:
1)With the economy as it is today, I am being urged by friends and family to just give up, and I am tempted to.
2)I just can’t seem to locate the (good) deals other investors are finding.
3)Another investor went around me, and stole the deal.
4)I thought this was a great deal, but now I can’t get it resold, and am having to pay holding costs.
REHAB TURN AROUND HOW – TO’S
1)Stay clear of NAY SAYERS. Unfortunately this could include friends and family, as they simply cannot grasp what you are trying to do. Businesses do not grow big with small thinkers at the helm. Always be in the company of like minded thinkers as yourself who are also seeking to achieve high goals. Together you will keep one another buoyed up and propelled forward.
2)Find the investors who are having the most success at doing the kind of deals you are wanting to do and then… do what THEY do. Don’t be afraid to ask them questions. Truly successful investors will be happy to guide you and give you straight forward advice. Remember, someone helped them at one time too.
3)ALWAYS protect yourself and your deal. There are specific ways to guard against unscrupulous people. Have this strategy firmly in your mind before going forward with any deal.
4)The (Great) property you can’t resell. “Due Diligence” is a term tossed around so often in the real estate world that people forget what that term really means. Be certain you know exactly what all “Due Diligence” entails. Don’t miss a single detail. There are additional methods you can apply to get that property SOLD.
5)If you know the formula, you can find the solution to any problem.
Shari Meier, co owner of Sun Mountain Enterprises, Inc. is a licensed Realtor in both North and South Carolina, and Florida, as well as being a home stager and Feng Shui consultant. Together with Co owner David Meier, Shari and David have been investing in every aspect of real estate since 1998. To join them in investing profits, visit http://www.Shariswholesaleproperties.com.
The challenges we are facing is:
We are in Palmdale, CA, there have been several auctions here, auctioning off the foreclosures (I get hundreds emailed to me daily) We win the bid at the auction but the selling lender, refuses our offer, because they still want 240k for a house that is now worth 120. On the short sale side of things, I am stuck, I can get the contracts, get the estimates, photos, but with lousy credit and no money, I get right up to creating the HUD1, and get stuck. (I couldn’t get a loaf of bread on credit if I had to) I hear there are hard money loans out there (no payments for 6 months etc) but I can’t find them, and all the title companies here tell me doing a double close will put us in jail, ……help, any suggestions would be greatly appreciated. I have a partner who has excellent credit, but is retired and has no income…… We have bought and listened to about every real estate course there is, but still haven’t been able to close a deal…..any ideas?
The biggest challenge I have been facing is qualifying for financing for investment properties. I have very good credit and enough money to put even 20% down, but I am self-employed (without a 2 year history) and work freelance, so no lender will even look my way. This is extremely frustrating because I have always been ultra responsible with money and have saved diligently and kept my credit good, but just because I don’t have a 9-5 I hear “there is absolutely no way you will qualify.” I just bought my first property and the only way I could finance it was for my mom to co-sign!
Doing a double close won’t put you in jail. Tell the title Co to put the crack pipe down. don’t listen to them. Do it the Old School title way. They have the private $ to do a legal double without using a land trust. You find seller you find buyer you close and collect paycheck
There is a problem with alot of investors doing short sales without good faith money to close on the front end of the double closing. Myself and other investors have the answer for you, if you have an approval for the short sale and a end buyer who can close we will do a short term loan of 24 hours to purchase and to close on both ends of the deal.
Gerry – I’ve responded to you privately to see what we can do with this. Thanks! — Bryan Ellis
I am in Canada and I do Real Estate Investing Matchmaking. I find great deals, not on market, secure the property and sell the contract.
My challenge is that I don’t have a very big list of buyers, especially for the type of property I find. So I often have to let go of the contract as I could not find a buyer.
Hum! Any Home builders interested in buying in Canada? Or perhaps there is some Golf Course Developers out there that would like to expand into beautiful Canada?
Tom’s right. Old School Title can help you get it done. Give them a call and tell them your situation. They’ll help you get the deal done.
As a beginning investor, I am struggling with contract knowledge. Everyone says to “just get the house under contract”. Well what contract due I use, how do I fill it out, what clauses do I need to put in. A walk through of the various contracts needed for each creative real estate scenario would be great!
A service I have offered to attract buyers is to offer them the expertise to obtain the lowest possible property taxes on any property they buy or to let them know that the taxes are already at their lowest and why.
This helps their bottom line either as an investor or owner occupied.
Finding private lenders is my problem. It should be easy
because there are great deals out there, but when I approach
people they kind of react as though they’re not very interested in real estate.
As a new investor without a proven track record how do I
convince investors that I could be the best thing that ever
happened to them?
I am so new at this, all I am doing right now is reading and absorbing. This is exciting stuff – for some reason, not sure why but this is a place I want to be. Everytime I read something or check a site its almost like I am supposed to be there. I\’m not that type of person – so this is very new to me. I want to say thanks, Bryan, your great amount of knowledge and wisdom are very encouraging.
I am very, very new to the real estate business. Good credit. Where are the lenders and the buyers. My goal is to flip a couple of deals , before I start working on rental properties. Where can I find a list of contacts, investors who are looking for, and ready to purchase residential or commercial properties.
Hello, well I guess I would be considered new. I read books,listened to CD\’s watched DVD\’s etc. but up to this point in my life I haven\’t closed 1 deal and after years of trying to make this real estate thing work I have nothing to show for all the time that I\’ve put in,I\’m interested in learning how to wholesale properties. Currently I door knock for a local real estate investor, his niche is Short Sales. I\’ve been doing this Door Knocking for him for at least over 6 months, but like I mentioned I have nothing to show for it. I feel like I\’ve learned a lot. My immediate problem is lack of cash and stellar credit to be able to do my own thing, I\’m blessed to have met the people that have came into my life, but what I realized now that if it shall be it\’s up to me. Before I go out door knocking I plan my day out, which area I\’m going to work. I get my list of motivated sellers from a local title company here in San Diego Ca. for (FREE) the problem is after spending hours of map questing the address\’s that I\’m going to approach when I arrive the property is already listed with a Realtor. I would like to speak directly with the homeowner and not have to go through the hassle of wasting TIME AND GAS especially with the cost of gas today. So with that being said I wish I knew a way to find a list of motivated Sellers before a NOD-Notice of Default is filed by then it\’s public record and people with the cash and or credit are running circles around the little guys. Money is needed, but I\’m interested in helping people I figure the more people I help the money will follow anyway. Since I\’ve been door knocking for different investors I stumbled across loss mitigation, while out door knocking I remember this conversation like it was yesterday, a homeowner, now renter, ask me Can you keep me in my home? I gave her my honest answer, which was I don\’t know, but I\’ll get back to you with that answer, the point is know what you need to know before,but don\’t make not knowing one of your reasons for not taking action,ask questions from the people your working with, always be honest, and truly try to just help people.My other issue besides the lack of money and credit is it seems like a lot of people don\’t really care anymore what happens to their house,and the banks and shady people in the industry isn\’t making my job easy, the reason I say that is I\’ve built relationships with loss mitigation companies and I\’m finding out that some charge a lot up front and some are very reasonable. I wander how much does it actually cost a firm or a person to take on a loss mit case? I make at least 100 phone calls everyday. I\’m calling on leads that were given to me, but a lot of the numbers may be disconnected,etc. Does anyone know of a good source for leads? I\’m looking for people that have tried to refinance, but can\’t because their upside in their mortgage meaning that they owe more than what the property is currently worth, after making a 100 calls a day and getting numbers that are disconnected, hung up on, told no I\’m not interested, you must have bad information, etc. takes it toll after awhile. All I want to do is find the people that actually want help, people that are motivated with a capitol M to do something about their situation, any suggestions will be greatly appreciated. My schedule where I currently work is from 11am-8pm MON-THU-FR. from 10am-4:30pm and a couple hrs. on Sat. with a schedule like this, an calling on unmotivated people it would make the average person give up, but I feel like I\’m here for a reason so I keep pushing forward. So with this being said any ideas on 30-60 date late list,any good ideas about wholesaling on a limited budget please let me know. Any ideas of how to find telephone numbers for the leads I receive from this title company? Any ideas on how to get people to call me that want help oppose to me going in blindly.
i am very new i have a couple of real estate courses that i have read but fear is holding me back i would like to have someone who has been in the business for a while that will set down with me and help me do a couple of deals i dont have the money to pay anyone so what ever deals that we would do we would have to share the profits that is the best i can do i am very poor that is why i need the help.i dont want to do short sales i wannt to learn wholesaling.if i had the money i would be very happy to pay for the training but right now that is not possible.i am an injured worker with an income of under $500 a month that why i want to learn real estate investing so i can live a better life so if anyone is willing to help let me know i live inohio.thank you
I’m a newbie with real estate investing and have put out about 50 offers so far. I’ve gotten 1 counter offer so far but think I was offering too low. These offers are for REOs. I have 6 short sales that I’m negotiating and the first one will settle this month.
A couple challenges;
so many opinions; use a 1 page contract I was told and no EMD; I finally purchase a “state” compliant contract for (Virginia) and will see if this works better. Questions here…it seems like even though “many” said a 1 page contract is simple and will work, most of the realtors didn’t take “it” seriously?
Thoughts on this.
Finding funding sources…anyone have a good way to find these “angel” investors? I have picked up a handful of investors that will purchase the property and hold up to 4 months and we split the profits.
Developing a buyers list; any ideas. I am gathering but this is one of the keys….I believe…to have buyers lined up. How can this be done most efficiently?
A couple things that might help some folks:
it be great to be able to chat with like minds about what works and what doesn’t. Their is plenty of opportunity for all of us. We need to focus on how each of us can help our communities get back on their feet again.
Thank you for your comments, Karen. Stop by frequently! — Bryan Ellis
For Rick and Antwan, don’t give up!! Just keep taking action. I know, it’s hard but you have to know that you were created to succeed.
have a peaceful journey
I am a pretty new real estate wholesaler. I’ve been studying and taking action for about 6 months now. My biggest challenge is getting started on a paycheck to paycheck budget. I know it doesn’t take much cash to wholesale, but there’s a little thing called earnest money (which I’m sure everyone knows about) that’s throwing kind of a monkey wrench in there. I have an entire business plan that is my ultimate goal. There is so much information out there that sometimes it’s hard to stay focused on one thing. I can’t afford real estate investor training. There are courses and seminars that I want to check out, but just don’t have the money until I get up and running. I have some deals in the making, but no one knows how they’re going to go until they close.
The other thing that’s a challenge right now is the market. I’ve heard that a lot of buyers aren’t buying right now because they’re scared of what’s going to happen. So there are a lot more deals than buyers. Is there any way to let buyers know that now is STILL the best time to buy?
Hello,
I am finding it hard to get started in Real Estate Investing. I am a 55 year old retired business owner. My husband works a 9 – 5 J-O-B. We barely make ends meet. So I cannot buy the training courses or pay for a mentor. I would gladly work as an intern for someone, doing the computer and leg work to learn this business. I have nothing but time. I have tried to bird dog for several people but that hasn’t worked out either. I guess I am not finding the right kind of properties. I try asking what they want but get no direction. To be a bird dog one needs to be trained. We need to know what kind of property to find. We need guidance in how to find these properties. I am and always have been a hard, dedicated worker. I could be a great help to the right person. I need to find a Local mentor. I would love to wholesale property but don’t have the guts or the buyers list needed. I am so ready to live the great life. We have 2 children to put through college. I really want to do this. I need to find a Local mentor.
Wow…Speaking out feels good.
Congratulations on speaking out! Where are you located? Maybe someone here can help you! — Bryan Ellis
Oh yes, I forgot to say thank you for all the Free help you supply here. I really do appreciate all of it. I read and listen to everything.
Thank you so much – I really appreciate your kind words! — Bryan Ellis
My problem is getting leads. In today’s market, there are lots of people who are capable and willing to work, but because of their financial situation, they cannot afford to start a business. I know there are plenty of websites where you can buy leads, but what if you really don’t have any discretionaryfunds. I have been looking for a performance based website where you pay for the leads when the deals close. I know this has several pitfalls, but if it were structured properly, the risks to the supplier of the leads could be minimized. It could work similar to a draw on salry where you paid for the older leads later as you became financially able.
During these hard economic times, it is difficult, if not impossible to obtain funding in the form of a bank loan for a real estate purchase. An alternative option some may not have considered is using the future payments from a cash flow source such as a seller financed mortgage or business note. These and other cash flow payments can be paid out in the form of a discounted lump sum that can be used for any purpose! Furthermore, cash flow recipients have the option of selling all or just a portion of future payments. Various factors determine how long it takes for a lump sum funding to occur but generally it is 2-3 weeks for a seller financed mortgage and 3-4 weeks for a business note. If you have more questions about accessing future payments in the form of a lump sum, please ask me!
Paul,
What you’re discussing isn’t something I have hear much about, at this point in my RE career.
I’m a licensed Agent in AZ, working short sales, preforeclosure and in the process of putting together lender direct REO packages for local investors as well as my own idea(s) for a lease/option with assignment rights contract.
I’d appreciate hearing more about your “future payments from a cash flow sourch” concept.
Thank you!
Paul (and all other readers)
Forgive my typo’s on the recent post… apparently I should proof read. [grins]