Archive for February, 2012

Real Estate Owners

Wednesday, February 29th, 2012

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For many legal reasons, real estate investors and owners should never own real estate in their own name. Often when people are buying a property together, both or all the names of the owners are listed on the property as joint owners. When your name and/or your partners’ names are listed on the title, they are all recorded on the county records as the owners.

The Problem
Eventually one or more people are going to become unhappy or need to remove their responsibility for part of the mortgage and ownership. As joint owners, you all have the Right of Partition. This means that if one of you isn’t happy, that person can make everyone sell the property and divide up the proceeds. This kind of arrangement is pretty normal for partners of any business. When one wants out, his part of the business is bought from him or the business and sold and the partners are paid off.

Unfortunately, these things don’t always go the way you want them to. All it takes is one partner or co-owner to have a creditor or two that are overdue for their money. Once the creditors start demanding partitions, the property will have to be sold to settle his debt.

The Solution
A land trust is a legal entity that holds the property title and protects the interests of the property owners. Typically, a land trust is used to protect the owners from lawsuits, liens, liability, and litigation. One major benefit of putting a land trust as the owner of the property is the land cannot be partitioned. The beneficiaries, or actual owners, do not have the right of partition. This means if a partner wants out or his creditors demand payment, he can’t make everyone sell the property and pay him off. The land is now part of a business. Any of the other owners can buy the partner out, or he can sell his portion to another person. However, he does not need approval from the other partners to do so.

Real estate investment is a tricky game. The best thing for anyone to do is to set up a land trust and protect their assets. For more information on the exciting world of real estate investment or for real estate franchise opportunities, call or visit us at Homevestorsfranchise.com.

Commercial Deals

Tuesday, February 28th, 2012

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In real estate investment, commercial real estate offers you an amazing opportunity to generate an enormous amount of cash flow in a short amount of time. If you get the right property, your monthly mortgage and property bills will be taken care of and you will be left with very little out of pocket expense. Finding these great real estate deals require some legwork and research though.

Start by researching the potential in the local economy.  Look for information on incoming businesses and look for evidence of resources that other businesses may find attractive. If it looks promising, then investing in commercial property has the potential to generate you a lot of business and profit.

Once you like your target market area, begin looking for places that not only are reasonably priced but also will be desirable to clients. On commercial real estate investment properties that already exist, there is a master lease for the entire property, and there are individual leases with clients. During your research and due diligence, you will have the opportunity to review this information. You can compare these numbers as well as the vacancy numbers and rents with the ones in your area’s market. Look for commercial properties that have growth potential, especially for the rent.

Next, look at the average price of electricity and other utilities. Unlike most residential properties, commercial real estate investment properties tend to split the cost of maintenance and utilities amongst the clients. This fee is normally in addition to the agreed upon monthly rental rate. These fees are known as Common Area Maintenance fees or Load Factor fees. In most cases, these costs are averaged and set as a flat fee paid monthly, quarterly, or annually. In some major repairs, they are split and charged as a onetime fee in addition to the other fees.

Key things to look for:

Extra Land: Many properties have extra land that can be sold or built upon. Normally, it is just included in the sale. This is a nice treasure that makes the sale worth it.

Lease Changes: Upon review of the leases in your due diligence, you may discover that the rents, fees, and terms are not set up well. If you catch it before you buy, these can be adjusted afterwards to suit your needs. These changes can improve your monthly income by thousands.

Common Area Maintenance fees or Load Factor fees: Unbilled or under billed CAM or LF fees cost owners mega bucks. By reviewing these closely, you may find that not all of the monthly expenses like the water bill, sewer bill, and property tax hikes are being included. By adjusting the CAM or LF fees, you eliminate any out of pocket expense you are facing and increase the amount of profit you are looking at.

Commercial real estate investments can generate you a lot of profit if you approach it carefully and know what to look for. For more information on commercial and residential real estate investment, call or visit us at Homevestorsfranchise.com. We have a wide variety of real estate investment as well as real estate franchise opportunities. If you are looking to grow you real estate investment business, we have just what you need. Call or visit us today for more information.

 

Rehabbing- Avoiding Questionable Repairmen and Contractors

Monday, February 27th, 2012

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Real estate investors want to make the most money off of their investments, especially their real estate rehab projects. Most investors have to hire out a good portion of their rehab to contractors and other tradesmen. Unfortunately, the amount of money to be made in rehabbing is enough to make some contractors and tradesmen to act unscrupulously. Time and experience has taught many real estate investors that there is only one way to keep from being ripped off – avoid questionable repairmen and contractors.

 

How to Avoid Them

Staying away from questionable workers can be tricky. Start by only hiring licensed contractors and subcontractors. Make sure they are also bonded and insured. This helps to keep them from running off with your money and leaving you with an incomplete money pit.

 

Before you ask anybody to take on the job, make sure you get a written estimate for the job, and then make sure they stick to it as closely as possible. If there are any problems or potential changes, an amended estimate should be submitted to you in writing for your approval. This keeps you from being responsible for their screw-ups.

 

The best way to avoid complications with projects is to make sure everyone signs a waiver and release of lien. This means that anyone who provides materials or labor will not have to worry about being paid, In exchange, they aren’t going to put a lien against your property for nonpayment, which would keep you from selling it quickly once it is finished.

 

Where are Honest, Professional Tradesmen And Contractors?

Finding good, honest tradesmen can be a challenge. Start by asking around your community. Sometimes, retired individuals will pick up a side job or two just for a little extra money. People that are happy with recent work that was done for them will refer their contractor. You can also try visiting job sites. When you visit a site and find yourself really happy with how the work seems to be going, that is a good potential candidate for you.

 

Some real estate investors are new in their community or new to real estate rehabbing. In this case, the best place to start is in the newspaper, phone book, or internet. Many of these contractors will be happy to meet with you, give references, and get the information on the project so they can put together an estimate for you.

Real estate rehabbing can be a fun way to make a lot of money quickly. It just takes the right preparation work to make sure you get the right people in place to avoid being left empty handed and unfulfilled.

 

For more information on real estate investing, visit us at Homevestorsfranchise.com. We have what you need to grow your real estate investment business quickly, including real estate investments and real estate franchise opportunities.

Finding Motivated Sellers

Monday, February 27th, 2012

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Every real estate investor faces times of great luck as well as lean when it comes to finding great real estate investment properties. Most experienced investors will tell you that finding the right properties is a balance between knowing where to look and perfect timing. If you are having trouble locating good investment properties, try looking in these locations.

MLS, Real Estate Agent lists, and Real Estate Websites

Homeowners are becoming pretty resourceful when it comes to getting the information out about their home for sale.  Most homeowners sign with a real estate agent for a short term. As their contract runs out, real estate agents typically lose interest in the home, and homeowners start getting desperate. If you can find out which homes are running out of their contracts or have run out recently, you have a pretty good chance of finding decent investment properties with sellers that want to sell.

If you have a real estate agent you have partnered with, they will usually be willing to get you a list of properties that have expired or are fixing to. Unless they have listed with another agent, most of these homeowners will be happy to hear an offer.

Property Taxes

Every community has them, even mobile homes that are fixed to the ground. These have to be paid regularly on time. If they are not, the local government can put a lien on the home, or they may even foreclose on it. This information takes awhile to look up, but it is worth it. Most of the homeowners that are behind on their property taxes are willing to listen your offers. Most local Property Tax Assessors have a website where you can search for properties with late property taxes.

Mobile Home Parks

Most real estate investors fail to consider mobile homes as real estate investments. However, many of these properties are beautiful and cheap, two of the things real estate investors love. Not every mobile home will be in the middle of a mobile home park, but many of them are. The managers of these properties are usually a wealth of information on who is late on their lot payments and who may be selling their home soon. Building a good relationship with these managers will help you to get the first scoop on who may need your real estate business’s attention. Of course, bonus payments for referrals can always help increase the number of those references.

Other Real Estate Investors

Some real estate investors are very particular about the types of properties they purchase. If something doesn’t fit their niche, they may pass on it. By getting to know these other investors, you increase your chances of finding really great properties.  Once they know what it is you are looking for, they will pass you information about properties they cannot use.

For more information on real estate investing, visit us at Homevestorsfranchise.com. We have a large selection of real estate investments and real estate franchise opportunities to help you grow your real estate business.  Come see what opportunities Homevestorsfranchise.com has for you.

Get a Great Real Estate Business Team, Including an Assistant

Monday, February 27th, 2012

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Every successful real estate professional will tell you your success greatly depends upon the people you have working with you. You need a team, and the sooner you put a great one together, the faster your business is going to grow. The only problem is figuring out how to put a successful team of talented individuals together.

Start by getting motivated and making good business decisions. Establishing a good track record, even as a beginner will have people scrambling to work with you.

Observe and Invite. If you want the best people working for you, look at the places you like to go for pleasure and business. It may be the bathroom soap you like, or it could be the people that are there. After figuring out the reason, invite the people you enjoy being around to work for you. Chances are if they impress you there, they will impress your clients too.

Competitors’ businesses are not off-limits when looking for team members. However, you must realize you may have a hard time recruiting them, and you will receive a lot of grief for doing it too.

Look for Potential. Your education is your most valuable asset outside of your attitudes and behaviors. Not every position requires a college degree, although degrees are helpful. Look for hard working employees with a desire to grow. These individuals will turn into outstanding real estate team members. Once they are recruited and started showing their potential for you, offer to help them pay for their schooling. This creates a sense of loyalty that will keep the team member around for a long time.

No Fluff only Success. When you start looking for team members, you are going to get a lot of resumes. These are often filled with fluff that is meaningless or craftily designed to get your attention. While these are fine, instead give them a trial period. Give them a task or questions that they must complete. If you approve of their performance, ask them to stay. If you don’t, tell them it won’t be a good fit after all. Be sure to pay them for their time and effort. This keeps you from hiring someone just to have a warm body, and it establishes a certain reputation and standard for your business.

Each real estate business team member is a great asset. Take the time to find those diamonds in the rough. They may turn  out to be priceless! For more topics related to real estate investors or investments, visit us at Homevestorsfranchise.com. We also have the real estate franchise opportunities that will grow your business by leaps and bounds.

Real Estate Investment Money Making, Part 2

Friday, February 24th, 2012

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Some people question the ability to make money with real estate investment. There are countless ways to creatively make money in real estate. Last time, we looked at some of the more popular investment options. This time we’ll examine some of the lesser known ways of making money through real estate investment.

Managing Properties

Half the time, commercial properties and rented residential properties are being mismanaged. As a general rule of thumb, these properties should easily make you wealthier. Upon close examination, real estate investors can find properties at reasonable market prices. After purchase, they rework how the investment property is run. Sometimes this includes raising rents. At other times, it is simply a matter of cutting costs and expenses. This usually ends up saving thousands.

Turn Key Properties

Some real estate investors have a little more money starting out. They choose to buy a property for full price that is already profitable and produces an acceptable return on investment. Over time, the property appreciates, building cash flow and equity for the future.

Gentrification

This is a lesser known term. The concept is simple though. An investor looks for properties in hot areas or markets. He purchases a good prospect and hangs on to it. All he as to do is hang on to it. If the market trend continues to increase in the area, the property should increase cash flow for the investor and appreciate. This type of real estate investing does come with risk. There is the possibility that the property will actually lose money in the beginning, but over time it should appreciate if run properly.

Another Questionable Group

Outside of standard real estate investing, there is another category called wraps. Although they aren’t technically illegal, some people may question them. Keep a sharp eye out and keen logic at hand.

Wrap Lease Renting

Some property owners rent out properties for way less than what they are worth on the market. The idea behind wrap lease renting is to lease the property for the year upfront. Then, you sublease the property to someone else for more than what your monthly lease was worth. Your profit is the difference between the two rents.

Wrap Lease Buying

An investor leases a property with the option to purchase at a later date. Instead of moving into the property, you lease it to someone else at an increased monthly rent and sell it to them eventually at a higher price.

Wrap Around Mortgage

Some investors choose to try a wrap mortgage instead. In this investment situation, the investor buys a property at market value with financing. While the property is being paid for, the buyer sells it to someone else at the same price, but with an increased interest rate. This creates a little profit every month for the investor, but over time, the difference can really mount up.

Money can be made in many ways in real estate. Choose the best, ethical option for your real estate business. For more opportunities for real estate investment as well as real estate franchises, call or visit us at Homevestorsfranchise.com. We are the nation’s number one home buying and selling franchise, and we have what you need  to grow your real estate investment business.

 

Real Estate Investment Money Making

Friday, February 24th, 2012

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In real estate investment, there is a long and varied list of ways to make money in real estate. Some of them a very simple and self explanatory. Others are pretty complex. No matter what other people think, there is a lot of potential money to be made in real estate investing if you know where to look and how to approach it.

Wholesale

Wholesaling is the real estate investment strategy most people are familiar with. It requires shopping around to find properties that you purchase below market value. Usually these properties can be in foreclosures, bankruptcy, estate sales, HUD auctions, or IRS sales. After the property is bought, it can be sold at any time. The key to making the most money is to buy the property well under market value. That way you have room for price flexibility and still be able to make a profit.

Rehabilitation

Rehabbing takes lots of elbow grease, but it has the potential to make a lot of money. Properties are usually bought at or below market value. Then, the properties are brought up to code and renovated to raise its value. If the properties are worth much less than the land they are on, some real estate investors may choose to tear down the existing building and put up a new one. In many cases this actually generates a substantially greater amount of profit. Afterwards, the properties are either kept and rented out or sold for a profit.  Depending upon the neighborhood, these properties can generate quite a healthy amount of profit.

Conversion of Property

Many real estate investors make money by converting properties. This is done by finding a structure with great bones and potential. Then, the building is repurposed. This often leads to a greater sale prices or monthly revenues. This is often seen when apartment or office buildings are transformed into condos or lofts or when large pieces of land are broken into small sections are sold off.

Taxes

Many commercial and residential owners find themselves getting behind on their property taxes. With some research, you can find properties that have liens on them, are fixing to be foreclosed on, or are up for auction. Many of these properties are in good condition. If you buy one with a tax note, your interest rates can actually generate you quite a healthy amount of profit.

Money can be made just about anywhere in real estate investment. For more ideas regarding real estate investing, call or visit us at Homevestorsfranchise.com. We have a large selection of real estate investments as well a real estate franchise opportunities to meet your real estate business needs.

Lease Options versus Subject-To Deals

Thursday, February 23rd, 2012

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Beginning real estate investors often wonder which is the better investment choice, a lease option or a subject-to. Every experienced real estate investor has his own preference. However, there are some differences that can make choosing one over the other a better situation.

Why prefer a subject-to?

Subject-to’s are preferred by many investors. The reason is their name is on the title. This means legally they own the property.  Messing or keeping up appearances with the previous owner is no longer necessary.

Why Lease options?

Lease options are great if you cannot buy the property right away, or the seller isn’t willing to let go completely of their home. You make monthly payments to the seller until t you buy them out or pay them off. However, this leaves some major problems to consider. Your name isn’t on the dead yet. Technically, you do not own the property. This situation leave you open to a lot of unknown consequences.

Limiting Your Risk

With any real estate transaction, you should do your research to make sure you are not going to end up on the losing end. Especially with seller financed properties, run a credit check on the seller. If they are in financial trouble, there is a great chance that you may end up without a home.

Run a title search on the property to make sure the title is clear. This verifies there are no unknown liens on the property. As a bonus, you can also verify the mortgage balance and monthly payment on the property.

Make sure that you are paying the mortgage every month. Either set up a trust that pays the financial institutions the mortgage payment, or pay the mortgage company directly. This allows you to cover your hiney.

If problems arise with any of these situations that are a good sign you don’t want the property. The seller is either no really interested in selling, or they are too risky to work with. No matter what, be prepared to walk away from the sale.

For more information on real estate investing, call or visit us at Homevestorsfranchise.com. We are the nation’s number one home buying franchise with over 15 years experience buying and selling properties. We have an extensive selection of real estate investment properties as well as real estate franchise opportunities that will help you grow your real estate business. Come see what opportunities we have available for you today!

Moving Commercial Real Estate Investments, Part 1

Wednesday, February 22nd, 2012

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After you have purchased and rehabbed your commercial real estate investment properties, it is nice to be able to get your money back quickly. Some real estate investors will choose to keep these properties as investments to rent out. Most others will choose to try and sell their commercial real estate properties. Just like residential properties, commercial ones have a few different options for sale.

Set price selling
For most people, this is the preferred way of selling. This is the option that is extremely similar to selling a home. You set a price, and then list the property for sale. This limits the amount of risk the seller takes, especially when it comes to the amount they receive.

Some people do not like this type of selling because it seems to limit the amount you would receive for the property. Very few will offer more than what a property is appraised at. They also do not like that setting the price makes it harder to generate excitement. Without excitement or interest, properties can sit for months or years before they are sold.

No Set Price Selling
Unlike public selling, no set price selling is usually done behind closed doors. The owner of a company or property makes it known to an agent or broker that they want to sell. As a result, the agent scans the list of potential buyers he has to look for a buyer that qualifies financially. Then, he presents the information to the buyer about the property. If the buyer is interested, a meeting between the two parties is arranged.
The final price is arrived at after the two parties have met and negotiated. This type of selling is beneficial when the seller is interested in moving their property, but they don’t know how soon they want to sell or how much they want for it. By meeting the buyer first, it answers a lot of questions for seller, and it gives them a better idea of what others deem their property worth.

Private and public selling offer real estate investors many avenues to move their commercial real estate investments. The faster the leave their hands, the quicker these investors can put their money in other properties. Next time, we will look at other lesser known options for selling commercial properties. For more information on real estate investments, visit us at Homevestorsfranchise.com. We have a large selection of real estate investments as well as real estate franchise opportunities available to help you grow your real estate investment business. Come see what opportunities we have for you.

A Rehabbed Investment Education

Wednesday, February 22nd, 2012

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Many real estate investors love buying properties and using them to create a positively monthly cash flow. In order to get the best real estate deals and to generate the most profit, buying as is properties and rehabbing them is the wisest choice. As more real estate investors begin dabbling in rehabs, the need for sharing any hard lessons learned becomes extremely important.

Rehab work is work! Many investors believe that all real estate investment is a walk in the park and requires very minimal sweat and tears. Rehabs require budgeting, promptness, experience, energy, hard work, and money. These are just the skills for the real estate professional.

Being able to afford the rehab work can be difficult. It requires finding a decent house with good bones below market value. Don’t just buy a property because it is cheap. Look for one with qualities you can work with. Apply with banks ahead of time to get an approval letter, or ask around to find investors with seed money for your properties. Once you have done the financial footwork, buying and getting the property is easy.

When choosing properties, don’t buy more than you can fix. Everyone watches TV and dreams they can pull off some of the amazing transformations they do in only a few weeks time. Unfortunately, those shows have crews that are specialists. Their expertise can knock out most issues in a short amount of time. Unless you have years of construction experience, only buy properties that you know without a doubt you can fix.

Real estate rehabbers need to be on the property as much as possible. Even if you have an amazing crew working for you, it is hard to manage projects you can’t see. By being onsite, you can head off problems before they cost you lots of money. You can answer questions and keep your contractors and subcontractors on task.

Reinvest your profits in your business. Although we all have bills to pay, your business actually grows with each investment you make. By reinvesting your profits in your business, you are able to buy more properties or bigger ones. This increases the amount of money you have f equity.

Real estate rehabbing is a challenge, but it is addicting and fun. For more information or ideas on real estate investment, visit us at Homevestorsfranchise.com. We have a large variety of real estate investments as well as real estate franchise opportunities available. If you are looking to grow your real estate business, we have the opportunities that your business needs.