Archive for September, 2011

Real Estate Investors – Title Problems

Friday, September 30th, 2011

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1105

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1132

There is nothing worse than attempting to purchase a real estate investment property or try to sell one, and then finding out there is a problem with the title. One of the most common of these problems is known as a cloud on the title.

A cloud on the title is any invalid note, information, or encumbrance that kills the ability to market and sell the title to a property. Some of the most common examples include expired options and unreleased paid liens. Before you can get insurance on the title or sell it, these questions and problems must remove the cloud before the title can be transferred. The good news is most title problems are fixable.

How to Clear the Cloud

The most important way to spot and fix title problems is to start with research. You can do your own through careful search of courthouse records and asking questions of professionals. The easiest way to research the problem is to hire a title or abstract company or attorney who specializes in title searches.

Cloudy Areas

There are a few places to start looking for title discrepancies. First, start by examining the local, state, and federal tax commissions. For past unpaid taxes, there may have been a tax lien placed upon the property. Second, check for other liens that may have been placed on the property. Sometimes, contractors do not get paid in a timely manner for work done on the property or contractor suppliers don’t get their bill paid. In some states, those suppliers can also put a lien upon the property until their bill gets paid. Third, surrounding neighbors may have formed a dispute upon the boundary lines of the property you are buying. When properties are very old, people’s memories get skewed as much as the lines of the property.  Fourth with older properties, there may also be heirs that are missing that have not released their rights to the property.

After you have found the discrepancies, it would be wisest to hire an attorney to help correct the issues and to give an estimate of the cost of fixing them. Some of these problems will just require a signature or two on the right form and getting the form filed in the proper office.

The good news is most properties even after fixing these title problems are great real estate investments. If you are looking to buy a property with a cloudy title, there is a good chance that clearing up the title will leave you paying a lower price for a high property value. For more information on all of the issues that affect real estate investment or real estate franchises, visit us at Homevestors.com.

 

Real Estate Investors – Use Social Media

Friday, September 30th, 2011

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1105

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1132

The use of social media is becoming more prevalent in every business industry. In fact, if you haven’t started using it, you are almost a decade behind by now. The good news is setting up social media accounts and using them takes little extra time and effort.

Don’t be like a lot of real estate businesses, and set up an account and then let that be it. You have to actively participate on the social media sites to remain relevant and not get over looked. Here a few ideas to get you started.

Face book

On Face book, create a personal profile and a business page. There are lots of resources for businesses on Face book, but they don’t know you are there if you don’t set up a business page. Next, check in daily to send birthday cards, special occasion cards, comment on other people posts, and update your status. Then, look for other local businesses that have an account on Face book and like it or link to it. This will create a network for you and help others to find you easier. Finally, add interesting client or property photos, slideshows and videos to your account. People do check in to see what new stuff you have posted. By uploading visual content they may be interested in, you encourage them to also stick around or contact you for their business needs.

Twitter

Twitter is a great resource for real estate investors. Who needs more than 140 characters to advertise their business? For a lot of people, this limiting forces them to be more creative and gives them a little more confidence in actually posting something. First, try tweeting interesting repairs, upgrades, and easy DIY projects. Most of these can be done in short tweets and will encourage others to check in with you to see what should be done. Second, try tweeting interesting facts, funny stories, clean jokes, and other interesting information just to get them thinking, “Who is this guy?” Third, stay relevant. By commenting on events as they happen whether in the news, on the stock market, or in the local area, you look like you are an expert to follow. Fourth, do tweet information on your properties for sale, open houses, properties to rent, and other information that relates to your real estate investment business. As you develop a following, they will start looking for your expert advice, tips, and your properties that are hot because you represent them.

Active Rain

If you haven’t heard of Active Rain, it is THE blog and social media site for the real estate industry. By setting up an account, you connect yourself to real estate professionals from all over the country. There are tips and advice from professionals that have already made it in the business. It is a great place to network and to also look for properties your clients may want.

For more information and ideas on marketing for the real estate investment business, visit us at Homevestors.com. We are the We Buy Ugly Houses franchise, and we have real estate franchise opportunities available for you.

 

More Real Estate Investor Marketing Ideas

Friday, September 30th, 2011

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1105

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1132

Sometimes real estate investors need more than traditional snail mail or email marketing campaigns. Companies like Starbucks and Redbox have shown us that there is success to be had in other forms of marketing, like texts, blogs and websites.

Texting

Some of the preferred marketing right now is by restaurants and other small businesses that send little texts to clients that sign up. These texts normally include coupons or promo codes that encourage future purchases of their products. While not everyone is into these text blasts, finding them on your cell phone screen does bring a little happiness to your day. As a real estate investor, you can use this to your advantage. You can send out little specials of your own, or you can partner with local business and send out special promo codes or coupons from you to your customers. While your clients may not be knocking on your door, they will appreciate you and so will the local businesses. Karma has a good way of getting around. This is a nice way to make sure the good karma works its way back to you.

Websites & Blogs

If your real estate investment business does not have a website or blog, get one. Many people use these as ways to express their opinions and to inform the public about their goods and services. Although most real estate professional use these just as a way to market a property, you can use them for so much more.

First, try hosting a survey or contest on your site. This will drive more people to actively look at your website. They may provide you with feedback or they may return consistently to find out what other cool stuff you have to offer.

Second, add free material they can download and use. These include eBooks, videos or podcasts, local mortgage rate information, etc. Free material is great, and most people will come to your site just for the free information.

Third, use it as a gateway to your social profiles and vice verse. If you provide a way for them to connect with you on Face book, Twitter, Google, and more, then they will friend or like you on those locations. This increases your potential network of clients and relationships exponentially.

Fourth, you can use your site as a place for customers to let you know what’s on their minds and what their needs are. Q&A sections are good for this, as well as comments, and live webinar events. To bring in lots of attendance, try to bring in a local expert or celebrity from time to time. It will increase the number of your attendees and help get the word out more about your business.

Texts, websites and blogs have more uses than most people realize. Don’t get stuck in the uncreative rut. Use these areas to creatively market your real estate investment business. For more ideas on real estate investment, visit us at Homevestors.com. If you love real estate investment, ask us about our real estate franchise opportunities.

Real Estate Investors Need Who?

Friday, September 30th, 2011

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1105

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1132

Real estate investors need real estate agents. Most real estate investors tend to stay as far away from real estate agents as possible. However, a relationship with a real estate agent has rewards for both parties.

Benefits

A real estate agent can help you negotiate with banks. Banks usually work with real estate agents on normal financing arrangements. Financial institutions end up favoring a particular real estate agent due to familiarity.

Real estate agents speak bank-ease. They can get things rolling with the bank and get an answer on your loan faster.

Real estate agent also will do the research on properties for you. They have access to comps and the MLS listings.
Real estate agents are also master negotiators.  They can help you with the paperwork and steps involved in short sales. Some financial institutions have specific rules and procedures, and you may be rejected is you don’t follow them.

You provide benefits for the real estate agent to. Your returning business means they always have income.  In addition, you can refer others to them as well. References mean a lot of potential business in the real estate business.

How to Work with One

The first step is to meet. At this meeting, you do more than you would in a homeowner’s meeting. While you will discuss what you are looking for in a property, you also discuss the agent’s needs and how this situation will work out.  You will both need to take a look at both of your goals and set up a strategy for getting there.

The second step is to take a look at the list of properties they give you and decide which one or ones are worth your time. The real estate agent will place the offers for you. The agent can drive you around town to look at all of the properties and discuss them with you, but that would be a big waste of your time and theirs. You can look at the properties on your own time and make a decision without wasting theirs.

If you are thinking about investing in real estate, working with a real estate agent is best decision you can make. In several states, it is now a law that all property transactions must go through a real estate agent in an effort to protect consumers. If the current real estate trends continue, you can expect to see more states passing similar laws.

Are REITs Legal?

Thursday, September 29th, 2011

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1105

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1132

While the encouragement of many brokers to diversify portfolios, many real estate investors have turned to REITs and Tics. These real estate investments in some ways have less overall risk and are a safer bet than investing and getting stuck with an individual property.

What are REITs?

Real Estate Investment Trusts (REITs) are funds used to borrow money to buy mortgages and mortgage-backed securities. The concept itself is legal; however, the Securities and Exchange Commission (SEC) is reviewing whether the use of these investment funds is an abuse of their exemption from regulatory restrictions that have now been imposed on banks to avoid financial crises.

The SEC is looking to see if REITs should be allowed to take more risk than typical investment funds. REITs borrow money in short-term markets to buy mortgages and mortgage-backed securities. They have become a major player in the U.S. mortgage financing industry due to the ever tightening restrictions on banks as well as Fannie Mae and Freddie Mac.

As a result of the SEC’s review, REIT share prices have fallen and lost their attractiveness. The major concern is the exclusion of REITs from the rules can raise the potential for abuse by companies. This could lead to incorrectly valuing a company’s holdings, powerful leveraging of monies, and too much power to insiders. New laws may be needed to reduce these risks by eliminating things like tax advantages.

The second concern is that placing borrowing limits on REITs could defuse the market demand for mortgages. This can further harm the housing market. The recent sharp decline in REITs share prices may limit REITs borrowing ability and decrease their ability to buy mortgages. If REITs slow down, the mortgage market will slow in demand as a whole.

The SEC is currently collecting comments on its proposal. If you as a real estate investor are concerned about changes in the handling of REITs, contact the SEC at sec.gov. They are looking for feedback from investors in all areas of the real estate industry, including residential, commercial, and retail. Each sector of the industry will have its own concerns and information on how the changes will affect them.

For more information on real estate investing and the real estate business, be sure to visit us at homevestors.com. We have fabulous real estate investment opportunities as well as opportunities for investment in real estate franchises available

Does Your Real Estate Business Qualify for an SBA 504 Loan?

Thursday, September 29th, 2011

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1105

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1132

The SBA’s 504 loan program provides small businesses with long-term, fixed-rate financing to acquire major fixed assets for expansion or modernization. The idea behind the loan is a great one. A Certified Development Company works with the SBA and private sector lenders to provide financing to small businesses, which helps develop the community’s economy.

Use of 504 Loans

504 loans must be used for fixed asset projects. These include the purchase of land and buildings, purchase of improvements, the construction of new facilities or renovating facilities, and the purchase of long-term machinery and equipment. For the average real estate business, this can help with expansion issues, acquiring office space, etc.

However, the one thing it can be used for will eliminate the dreams of most real estate businesses. The 504 Program Loans cannot be made to businesses engaged in speculation or investment in rental real estate. There is hope. If your real estate investment business does not do any rental real estate, you may still qualify.

Things to Keep in Mind

If you have the qualifying criteria, keep these thoughts in mind before turning in your application for a loan.

To be eligible for a 504 loan, your business must be for profit and fall within the SBA’s size standards.

The total maximum amount of the SBA loan is $1.5 million, if you are meeting the job creation criteria of creating or retaining one job for every $65,000 provided by the SBA.

Also, the program has had some growing pains since its initial kickoff.

1. It took an extra 6 months for the program’s rules to come out and applications to be accepted.

2. Changing balloon payment requirements initially knocked a lot of needed contenders out of the race for the loan.

3. The entire loan to be refinanced had to only be used for hard assets, even if it was 95% used hard assets and 5% was used for operating capital.

4. The SBA 504 cannot be used to refinance another government program loan.

5. The SBA and CDC still have to improve their roles in the approval and managing process of the SBA loan program.

Financing real estate business needs can be a tricky process. For more information on financing as well as other ideas for your real estate business, visit us at homevestors.com. We offer fabulous real estate investment and real estate franchise opportunities.

 

ARV or After Repair Value

Thursday, September 29th, 2011

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1105

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1132

In real estate investing, the biggest factor in determining if a property is a good investment is the cost of it. However, most people think the cost is the price of the property. Yes, getting a 1200 sq. ft. home for $10,000 is a steal. The actual cost of the property also includes the cost of repairing it. If the price of the property plus the cost of fixing it to sell is too great, the property may not be a good investment.

This is where having a good general contractor on your real estate investment business team comes in very handy. The general contractor will be able to help you walk through the property and figure out not only the estimated cost of repairing it but also the ARV.

The ARV or After Repair Value is the estimated value of the property after all repairs are completed. In order to obtain a good ARV estimate, you will not only need pretty accurate repair estimates, but also good comps or comparative market analysis of homes in the area. These can be obtained by going through courthouse property records, title companies, or other real estate professionals. If you use a  specific real estate agent for your business interests, they will be a good resource for your team in figuring out the ARV of a property.

Your real estate investment business team members can help you figure out if the property stats, including the ARV, price, cost of repairs, and housing market, add up to a good financial investment.

Checklist

Before you put down any money, you should know if you are able to do the work or able to afford the contractors to get the work done. You should have an accurate cost of repairs, and you should be able to afford them. You should also have an accurate estimate of the ARV or After Repair Value.

This checklist will help you and your real estate investment team make the best business decisions. If your investments are not selling or you find yourself spending a lot of money on repair costs, your ARV estimate or repair estimate may be off. Being off on these numbers has a huge impact upon the profit attained from an investment property. Always try to allow a little extra wiggle room when looking at the property numbers.

For more information on real estate investment or real estate franchises, visit us at homevestors.com.

Real Estate investment Careers

Wednesday, September 28th, 2011

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1105

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1132

Being successful in a career is generally determined by if you like what you are doing. If you don’t, your job can quickly become a bore, a drag, and a bothersome place to be. Real estate investment is no different. You have to enjoy working with people, taking on landlord duties, handling management, dealing with stress, and balancing tight budgets.  These are the things you have to consider when starting real estate investment careers:

Starting Out

Most budding investors living in the property they  are getting ready to sell. While it can be quite cumbersome at times, it offers lower down-payments and interest rates since it is an owner-occupied building. It also limits the amount of money you have to pay out for living establishments.

Time Availability

Real estate takes a lot of time. The biggest profits are usually on a refurbished rehab or foreclosed property. You make more money if you do the work yourself. When you already work full time, this limits how much you will be able to do on a job. This must be taken into account when trying to figure the profitability of a project.

Personal Life

A successful real estate investment career takes a great deal of effort. Loved ones need to be included in the work so they don’t feel left out, or you need to find someone else to handle many of the time consuming details. This limits your profits, but it may save your marriage.

Your Expectations

Unless you are going to hire a lot of people, your expectations should include a lot of your own personal work being involved. This includes cleaning, painting, laying flooring, and taping off drywall.

Decor

Successful real estate investment requires you to see what a property can look like cleaned up and renovated. Reading magazines, watching DIY shows, and researching will help you train your eye. Try to expose yourself to as much as possible. Your instincts will grow and help you make the right choices.

Funding Options

Obtaining the necessary funds to invest at critical moments is a large obstacle many investors have problems with. Savings accounts can provide some of these funds. Loans are hard to obtain for commercial properties and owner occupied properties. Seller financing may be an option, but you will also need money for updates and repairs. Credit cards are an option for some expenses, but they are not great for large purchases over time. Budget plans should include cash for delays and setbacks.

Comfort Level

Your comfort level with risk and investment is a huge concern. Real-estate investing not as risky as other investments. However, there are risk factors no matter what kind of real estate or investment you are working with.

Sacrifices

Purchasing investments will take a bite out a lot of your free money. This will mean sacrificing your fun money for awhile, including vacations, eating out, and entertainment. This takes a lot of commitment on you and your family’s part.

Real estate investment is a great way to generate future funds, but it takes careful consideration and planning. For more information on real estate investment or real estate franchise opportunities, visit us at homevestors.com.

Your Real Estate Investment Team

Wednesday, September 28th, 2011

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1105

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1132

As a real estate investor, you know the success of your business investments relies upon the other people that you work with. Some are your business partners. Others are your clients. One key group of individuals you must pay particular attention to is your contractors. Your contractors can make your real estate investments work, or they can break you.

Clean-up Contractors

This contractor is requires little knowledge or skills and often costs you very little to have. However, they make your job of selling rehab or foreclosed homes a little less messy. They usually bring their own tools and clean out whatever needs to be gone before potential rehab investors show up to take a look at the work that needs to be done.

General handyman or Maintenance man

This contractor is able to do a little bit of everything. However, they may not be an expert in any particular area. These contractors are good for smaller repairs and maintenance issues that creep up from day to day. This person can perform some of the work that your clean-up person cannot do that will save time for your renovation team, like mild demo.

Specialty Contractors/Subcontractors:

There are lots of jobs that require a special skill set. These include plumbing, electrical, and HVAC. Having a reliable group of specialists can help you stay on top of repairs and make renovation projects go a lot faster.

General contractor:

The general contractor is the one person that all aspects of a job, including  determining the scope of the job, giving estimates, hiring appropriate sub-contractors, and supervising/overseeing the work. This is the go-to man for every real estate investment team.

Contractors of every type are valuable team members to your real estate investment business. With the right contractors in place, your business is a winner for everyone. Your business can take care of every step of the real estate business from finding the properties and fixing the properties to selling the properties.  Just remember that although you want to profitable, do not take advantage of these contractors. Provide them equitable compensation for their work, and treat them as team members. After all, your real estate investment business will not be as successful without them.

With the right contractors, not only will you be more profitable, your contractors will be too. For more ideas and information on real estate investment or real estate franchise opportunities, visit us at Homevestors.com.

Buyer Say What?

Wednesday, September 28th, 2011

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1093

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1105

Warning: Illegal string offset 'status_txt' in /home/britips/public_html/wp-content/plugins/share-and-follow/share-and-follow.php on line 1132

All buyers want a house that feels like home, even if it’s not perfect. In addition, buyers have housing needs and other personal needs that are fulfilled differently with each home purchase. Real estate investors have to tailor their approaches when trying to work with buyers.

Some buyers are very specific about what they are looking for in a home. They might very well be the latest style or trend. Expensive looking countertops, stone floors, glass fronted cabinets are all trendy features buyers are looking for. Great views and fabulous yards with water features are also must haves.

Other buyers may say they want these things; however, what they say they want and what they really want are two different things. Sometimes, the words they use are code for some other true desire. A smart real estate investor will listen for these code words when they are interviewing the buyers.

Code Word

An appealing or beautiful  house means they want aesthetics.

A comfortable  or warm home means they are looking for comfort.

Easy access to places like work, school, or shopping means they want convenience.

Nearness to exceptional school districts or other educational facilities means education is important.

Easy access to local entertainment or the space and ability to entertain in the home means entertainment is an underlying need.

Climate or health and well-being centered facilities means health is a strong need.

A house with prestigious surroundings that impress others means prestige is a personal need.

Privacy providing architecture and landscaping or location means the buyer needs privacy.

Easy access or proximity to recreational facilities means recreation is important to the buyer.

A house in a safe neighborhood with security features means security is a great need.

Getting a quality home at a decent price means value is important to the buyer.

Remember

Make sure when you talk to buyers that you are really listening to what they are saying in your initial interview. It will help you find the hidden need or needs that they are really looking to fulfill. When you present each house, you can tailor the key features you point out to the buyers’ needs.  This will help establish the creditability of the home.

Pay attention to the features buyers talk about as you tour homes. Careful listening will help you determine the benefits your buyers seek to satisfy their needs. If the  buyer makes no offers or shows no interest in the home tours, one of his basic needs may not be met. Ask open-ended questions to figure out what need is not being met.

Remember, not every home is going to fill every need,  but paying attention and playing up features that the houses do have may help you successfully sell a home.

For more information to help you with your real estate investment business or for information on real estate franchises, visit us at homevestors.com.