Archive for August, 2012

HomeVestors Says Investors Must Move to Action

Thursday, August 30th, 2012

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Real estate investors can plan and make goals until the dawn of time. Nothing is going to happen until they start changing their point of view.

Dallas, Texas HomeVestors has spent the last 15 years becoming the nation’s number one home buying franchise. They have purchased over 50,000 as is properties. In addition, they had added an unprecedented number of real estate franchises in the last few months alone. They know what goal setting and planning is all about. They also know that real estate businesses do not succeed until the investor starts changing his mindset and making things happen.

When starting out, the biggest problem real estate investors have is getting stuck. They can see goals for themselves in the future. They can break them down into smaller goals and even assign dates to them to keep themselves in check. Where the problem comes into play is figuring out how to achieve those goals.

The first step real estate investors have to make is to change what they consider a goal as. Yes, a goal is something one aims for, a destination, or an achievable benchmark. The problem with this kind of planning is it sets the real estate investor up for failure. They become so concerned with the possibility of not achieving their goal or goals that they are afraid to move forward. What if this is the wrong house to buy? What if this mentor leads them down the wrong path? What if…?

The smart real estate investor will begin his course of action as seeing his goals and written dates more as guidelines. It’s like driving cross country on Route 66. There is a destination in mind, and there are certain places one must see or stop for gas at. The lines on the road help one to gauge where he is and keeps him from running off the asphalt. One doesn’t have to stay on perilously on top of those lines to make the trip. In fact, he would be driven crazy trying to mimic every little curve or waver. The lines are just guidelines.

In real estate, a business’s goals and plans are really just the markers to help keep the business headed down the right path without having to worry about an off-road adventure down a snowy embankment. By choosing to change one’s perception of goals and plans, an investor can relax and feel okay with just beginning the journey. He is less consumed with all of the what if’s and he can begin to see the possibilities.

About HomeVestors of America Inc.

Dallas-based HomeVestors of America, Inc. is the largest buyer of houses in the U.S., with 50,000 houses bought since 1996. HomeVestors trains and supports its independently owned and operated franchisees that specialize in buying and rehabbing residential properties.  Most commonly known as the “We Buy Ugly Houses®” company, HomeVestors strives to make a positive impact in each community.  In 2012, for the seventh consecutive year, HomeVestors was among the prestigious Franchise Business Review’s “Top 50 Franchises,” a distinction awarded to franchisors with the highest level of franchisee satisfaction.  For more information, visit www.HomeVestors.com.

Investing in ‘Subject To’ Properties

Wednesday, August 29th, 2012

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Let’s face it; real estate investing can be confusing at times.  Investors are always searching for a better, more efficient way to do business and the ‘Subject To’ concept accomplishes this pursuit.  The ‘Subject To’ allows a seller to sell a property to an investor but keep the loan in the seller’s name.  An investor then sells a property to a new buyer without having to get a bank or lender’s approval.

Sellers who are in the market for a ‘Subject To’ deal are usually desperate and are looking for a way to get their mortgage paid.  They are looking for anyway to maintain their credit rating.  An investor effectively finds someone else to pay for their mortgage and some.  After a seller agrees to a ‘Subject To’ deal they transfer the title to the investor through a Grant Bargain & Sale Deed.  These documents are state specific so be sure to get the appropriate ones.  Then the investor offers the seller a bit of money for agreeing to this unique selling option.

Now consider different ways to sell the house and at this point it may be best to consider owner-financing options.  If using an owner-financing option it is beneficial to secure a 10% down payment.  Also consider increasing the value of the house by 10% to make the most out of this investment.  Then add a few points to the interest rate of the original loan and make a decent monthly income off just one property.

Obtain a loan servicing company to collect and split the payments.  Advise them to send the lenders their share and the rest to your bank account.  Also make sure to set up a trust fund with the loan servicing company that has enough money to pay for the payments if the new owner defaults.  This will give you enough time to remedy the problem and possibly get them replaced.

Most of the people that are buying a house in this fashion don’t have perfect credit and are not able to obtain a bank or lender approved loan.  Let them know that by making timely monthly mortgage payments they are effectively increasing their credit rating.  They may have the possibility to refinance the loan with a bank in two to three years.  During this time an investor collects a great deal of money and helps the original owner by keep the loan out of default.

Asking questions with these few tips in mind will help save real estate investors thousands. For more ideas related to real estate investing, call or visit us at Homevestorsfranchise.com. We are the nation’s number one home buying franchise with over 15 years of experience. Our company has a vast assortment of real estate investment and real estate franchise opportunities available to help you grow your real estate business.  Come see us for more information.

Land Trust Trustee – What You Need to Know

Tuesday, August 28th, 2012

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Land Trusts are wonderful tools. They protect the interests, identity, and liability of the landowners. By putting the buyers of the property as beneficiaries, the land trust keeps the buyer’s name off the real estate record. This keeps other people from using the property as a way to sue an individual for liability or to keep one of the partners from being able to force the sale of the land.

Land trusts are a powerful entity that people just don’t know enough about or use. It shouldn’t be surprising then when people ask lots of questions about liability and its effects upon the trustee. After all, the only real name on the real estate deed is the trustee. He is the person that is in charge of looking out for the land trust and carrying out the beneficiary’s wishes.

Most people are hesitant to be names as Trustees for a land trust. They think that the trustee can be held personally liable for the land trust. That isn’t true in most states and cases. The have been a large number of legal decisions the last few decades that have questioned whether or not the trustee can be held personally liable. Trustee is the representative of the land and the beneficiaries. The trustee does not actually own the land. Therefore, when signing documents related to the land trust, the trustee is not personally liable due to the fact he is acting on the beneficiaries’ wishes.

However, there are a few things that trustees need to remember. If the trustee signs something that is against the wishes of the beneficiaries, he can be personally liable and accountable to the beneficiaries. After all he is supposed to be their representative. In addition, the trustee is the one that has to make sure the property taxes, insurance, etc. for the property are paid. If the trustee is sued or taken to court on matters related to the land trust, he can only be sued for up to the amount of assets of the land trust. His personal assets are safe. For the most part, trustees are just figure heads and are not personally liable for anything related to the trust.

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 of experience in the real estate business. Our company has a large assortment of real estate investment and real estate franchise opportunities available. Call or visit us today to see how we can help your real estate business grow.

Seller Funding Can Help Real Estate Investors

Monday, August 27th, 2012

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One of the hardest problems for beginning real estate investors and experienced ones is finding financing for their real estate investments. After all, an investor can make offers all day long, but if he doesn’t have the finds to put on the home, his offer is worthless. Unless you have a steady stream of cash or perfect credit, obtain those investment funds can be pretty tricky. That’s where using seller financing can help real estate  investors have big success.

On some homes, the seller is willing to finance all or part of the asking price for the buyer. This is known as seller financing. A large determining factor is whether the seller needs all of money now or if he can use part of it doled out on a regular basis…like a paycheck.

Not every homeowner is willing to use seller financing. However, there are some sellers that are more willing to accept this kind of arrangement. Properties in poor condition are less likely to receive a decent asking price let alone a good buyer. Properties that have been on the market for six months or longer usually have sellers that are ready to move on. Homeowners that are staying in the area are more likely to accept seller financing as well. They will be in the neighborhood and can pick up their payment.

The only problem is finding a homeowner that is willing to accept seller financing, especially if it wasn’t his idea or something that he had advertised. It will be up to the real estate investor to propose the idea and have the numbers worked out to show the homeowner.

The proposal should include any estimates for repairing and renovating the property. An explanation of why these things need repaired may need to be included. This amount should be taken into account when giving a final offer. In addition, the real estate investor should propose a down payment, length of loan, and payment amount per month.  This will help the seller to see how beneficial the arrangement could be. Seller financing can alleviate many of the funding problems the typical real estate investor experiences.

For more ideas related to real estate investing, call or visit us today at Homevestorsfranchise.com. We are the nation’s number one home buying franchise with over 15 years in the real estate industry. Our company has a wide variety of real estate investments and real estate franchise opportunities available. Come see how we can help you grow your real estate business!

 

Investors Focused on a Niche Become Specialized Experts

Monday, August 27th, 2012

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Life would be so much easier if we could all just start on the top of the totem pole, but it just doesn’t work that way.  Real estate investors start at the bottom and have to do a variety of different deals to determine the strategy that bests suits their personalities.  In the beginning most investors wholesale, rehab, rent or build new constructions.  Which one is best for you?

Wholesaling a property can net a great deal of money and doesn’t carry a great deal of risk.  Just become an expert at finding properties that are profitable and sell them to another investor.  In this business, networking is necessary and finding investors who will snatch up a property instantly is what you are looking for.  Now on the other hand, wholesaling doesn’t teach the entire real estate industry to a beginning investor.  A wholesale investor is just flipping houses and is not being exposed to the entire industry.  Another drawback to wholesaling is that it doesn’t build residual income like other real estate investments do.  As a general rule, the financial goal of wholesaling is to earn $5000 to $10,000 per sale.

Rehabbing and selling a property is another niche that investors can focus on.  Rehabbers need to put in more work than a wholesaler but generally earn between $15,000-$20,000 per sale.  Just remember, the amount of time and work needed to rehab a property is significantly greater than wholesaling properties.   Rehabbing a property with the intent of selling it assumes more risk, but if everything goes as planned, can be extremely profitable.

Individuals who wish to purchase property to rent them out are making a long-term investment where they will be receiving income for months on end.  There are more responsibilities and continuous work.  Renting out properties may not be for everyone and the people that choose this route understand the level of dedication needed to ensure success.

Purchasing land with the intention of building a new construction is another direction real estate investors can turn towards. These properties can net big rewards if built in the right areas.  It may be best to hire a construction team to get the job done in the shortest amount of time so an investor can get that new property on the market and reap the profits.

Picking a direction when starting out in real estate investing can be a challenge.  Pick one that fits your personality.  If you have a steadfast long-term approach to investing consider purchasing a rental.  If you are a looking for money as fast as possible become a real estate wholesaler.  If you are an individual who likes working on projects, purchase a rehab or new construction property and become an expert in that niche.

 

Asking questions with these few tips in mind will help save real estate investors thousands. For more ideas related to real estate investing, call or visit us at Homevestorsfranchise.com. We are the nation’s number one home buying franchise with over 15 years of experience. Our company has a vast assortment of real estate investment and real estate franchise opportunities available to help you grow your real estate business.  Come see us for more information.

Real Estate Education

Friday, August 24th, 2012

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Any real estate investor that wants to do a good job needs to be properly informed and educated on all of the aspects of the real estate industry. Finding the information is not difficult. It takes time, research, and reading. Some people like to have someone else to give them all the tried and true methods that work. This has led to invention of several real estate training tools.

The one-day seminar

The one day seminar is a fabulous tool for a little exposure to a lot of ideas. The course is for a few hours on one day. Therefore getting everything one needs to know in one setting you be almost impossible. As an introduction to if it is something you are truly interested in, they are fine. Look for one that has one theme or topic to go over. You chances of truly learning something will be greater.

Workshop Weekend

These events tend to cost. After all, they can just give you those handouts and materials for free. Someone has to pay for the cost making them. Weekend Workshops are often longer than one day events. Your chances of learning something useful is much better here. Unfortunately, not all workshops are created the same. Look for one with a single theme or subject. Often, they are put together like a cheap peony fair. There are lots of little things to do, see, experience, but not much of it has a lot of value or worth in the long run. Good workshops will have a smaller selection of choices or speakers, but the ones they do have will be more valuable for your time and money.

Personal Coach

A personal coach is another option that real estate investors are turning to. These are typically the gurus or people that have made it big in the business.  You really have to be careful in your selection or you could run the risk of wasting a lot of time and money. Not all people can teach or coach. They may know a lot, but it will be useless to you if they can’t teach it to you. Personal coaches tend to be very expensive. They have lives of their own and may also more than one student. This limits the amount of time you may be able to work with them and the methods that are available for you to work with them.

The most important things to remember when choosing educational opportunities is your  education is an investment. Ask lots of questions about what you’ll be learning. Try to get a schedule or syllabus ahead of time. Don’t be afraid to turn down opportunities not worth your time or to ask for your money back either.  If you get into it and find out that you don’t understand something or are missing valuable pieces of information, ask questions of the speaker afterwards. If he is the real deal, he will try to help you without having to charge you an arm or a leg.

For more information on real estate investing, call or visit us today at Homevestorsfranchise.com. We are the nation’s number one home buying franchise with over 15 years in the real estate business. Our company has grown in include a large variety of real estate franchise opportunities as well as real estate investment opportunities. We have just the tools and resources you need to grow your real estate investment business. Call or visit us today for more information.

HomeVestors Knows That A Every Good Investor has a Good Assistant

Friday, August 24th, 2012

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Every good real estate investor has an assistant to take care of the day-to-day activities. Take the next step by hiring an assistant.

HomeVestors is the nation’s number one home buying franchise and has helped real estate investors purchase 50,000 properties over the years.  The company knows that every good investor has a good assistant.  Picking the right assistant is the first and most important step.  Once an investor has an assistant, they are able to leverage their time, close more deals, have a more professional appearance, build a team, operate with less stress and eventually put their business on autopilot.

Find the right assistant through an active recruitment process.  Let friends and colleagues know of the quest to find help.  Put an ad on craigslist and find people willing to offer their assistance.  Make sure to find the most motivated and qualified person for the job.  Let them know that there is opportunity to advance and that they will eventually be in charge of their own team.

Paying an assistant is a worthwhile investment because it will allow an investor to leverage their time appropriately.  At first, the process of teaching an assistant the ropes is going to require a great deal of time, but once they are working independently, it shall pay back dividends.  Only perform the tasks that are necessary and give the remedial tasks to the assistant.  Allow your assistant to screen calls and manage advertisement campaigns.  Just think about how much more work can be accomplished by freeing up half the workload.

In the real estate investment industry, people trust people who have a certain amount of authority.  Think about the impression a caller receives when making a call to the organization and speaking to an assistant.  They know that this is a respectable organization, not just a guy (or girl) and a dream.  When potential sellers call, have the assistant screen the call and determine how motivated the seller is with a qualifying questionnaire.  Only talk to sellers who are motivated and close more deals, while avoiding the tedious details required to qualify a seller.

Have the vision of creating a team of assistants to manage the day-to-day business and create even more leverage.  Reward the initial assistant with the management of the team; let them do all the training and the managerial operations.  Let them qualify the leads and close the deals.  Ideally, this team is doing the brunt of the work from marketing to closing the deals.  As an investor at this point, the only real decisions to make are which beach to sit on while enjoying a drink with an umbrella.

About HomeVestors of America Inc.

Dallas-based HomeVestors of America, Inc. is the largest buyer of houses in the U.S., with 50,000 houses bought since 1996. HomeVestors trains and supports its independently owned and operated franchisees that specialize in buying and rehabbing residential properties.  Most commonly known as the “We Buy Ugly Houses®” company, HomeVestors strives to make a positive impact in each community.  In 2012, for the seventh consecutive year, HomeVestors was among the prestigious Franchise Business Review’s “Top 50 Franchises,” a distinction awarded to franchisors with the highest level of franchisee satisfaction.  For more information, visit www.HomeVestors.com.

Successful Real Estate Investors are a Special Breed

Monday, August 20th, 2012

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Successful Real Estate Investors are unique people who know what they want and get it.   These are people from all different walks of life, young or old, doctors or high school drop outs, the point is anyone can be a successful real estate investor if they have the right mind set.  Individuals who are getting started in Real Estate investment need to understand the amount of work and dedication it will take to be successful.  Follow in the steps of real estate investment gurus and mimic their persistence.

Successful real estate investors have a plan and modify that plan to meet their goals.  Write down a daily, weekly, monthly, yearly, and a 5-year plan.  Continue to take baby steps and don’t let frustration set in if these goals aren’t met.  Make sure the plans are realistic and make the goals attainable.

Go network to make friends and speed up the learning curve.  Find a mentor who is willing to offer advice and strategies, while teaching you to avoid pitfalls.  Get to know everyone in the business and fall into a lucrative deal mediated through the help of this professional.

Once you have properties, understand that they aren’t all going to turn out in your favor.  Get rid of properties that are just not lucrative.  When starting in the real estate business realize that many mistakes are going to be made and mistakes cost money.  Have enough capital to cover errors and do your best not to repeat them.

Make sure to protect your assets by titling assets under different entities.  Do not title all your assets under one corporation because if that corporation gets sued you stand to lose your entire portfolio.  Do not title assets under your name, use the protection of a land trust in order to ensure privacy and avoid personal legal ramifications.

Have a code of ethics and stick to it.  There is nothing good about earning millions of dollars against your ethical standards and not being able to sleep at night.  Follow your heart and do things the right way.

Treat people with great respect and they shall repay it back to you.  Understand that money doesn’t make the man and that everyone is equal.  Remain humble because no one likes to deal with an individual who is a braggart.

Take your real estate education seriously and take time out of every day to read, learn and apply new strategies in this business.

Teach and mentor others, not only is it a positive thing to do, but it will allow you to leverage your time.  Teach a motivated newcomer the strategies behind real estate investing and help them secure their first deal.  Let them take over the brunt of the work and allow you the freedom to relax and enjoy the fruits of you labor.

For more ideas related to real estate investing, call or visit us at Homevestorsfranchise.com. We are the nation’s number one home buying franchise with over 15 years of experience. Our company has a vast assortment of real estate investment and real estate franchise opportunities available to help you grow your real estate business.  Come see us for more information.

HomeVestors says Income Properties Can Challenge New Investors

Friday, August 17th, 2012

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HomeVestors, America’s number one home buying franchise, has over 15 years of experience in the real estate industry. They have purchased and managed thousands of real estate investment properties over the years. From their experience, they know that there are problems that every investor faces with investment properties.

Real estate investors make their money off of properties that sell or rent for more than the amount of money they have in them. This is where a lot of investors make mistakes. They spend too much for the property and fail to take into account how much they will need to get the property ready to spend or rent. Then, they go over their budget  hen renovating the property. This  is often caused by upgraded features and finishing touches. By the time their property is ready to go on the market to be sold or to be rented, they have an incredibly large amount of money invested. To compensate, they set their sale price or rent price too high for most people to afford.

The second major problem that real estate investors have is putting everything into a single property without proper planning.  They buy the property and start renovating it. Then, something happens and they get stuck with an unfinished investment property. This is where good planning comes into play. Before an investor purchases a property, he should map out several plans out action and possibilities.

For example, if everything goes right, the property will be fully renovated and sold for X amount. If something happens, the property should have a minimum of these problems fixed. Then, it should be sold for X amount. If it doesn’t look like it will sell, it should be rented to create X amount of cash flow. If the money is completely gone, the house should be sold to another investor for X amount due to the potential of them selling it for Y amount if it is fully renovated.

The third major problem real estate investors have is becoming attached to the property. Of course, an investor’s first, second, fifth, or even fiftieth property is going to be special. Since this is a business, an investor has to make decisions from a numbers’ perspective. This means all emotion has to be left out of the equation. Otherwise, an investor can easily be holding onto one hundred special properties and losing out on a lot of the capital he could use to invest in new properties.

About HomeVestors of America Inc.

Dallas-based HomeVestors of America, Inc. is the largest buyer of houses in the U.S., with 50,000 houses bought since 1996. HomeVestors trains and supports its independently owned and operated franchisees that specialize in buying and rehabbing residential properties.  Most commonly known as the “We Buy Ugly Houses®” company, HomeVestors strives to make a positive impact in each community.  In 2012, for the seventh consecutive year, HomeVestors was among the prestigious Franchise Business Review’s “Top 50 Franchises,” a distinction awarded to franchisors with the highest level  of franchisee satisfaction.  For more information, visit www.HomeVestors.com.

HomeVestors Declares Multi-family Properties Big Money Makers

Wednesday, August 15th, 2012

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HomeVestors is America’s number one home buying franchise. After purchasing over 50,000 properties, they know good investment properties when they see them.  One of the best investments for investors they have found is the multi-family investment property.

Multi-family properties allow real estate investors to purchase one property. The catch is the property has several different units for families to live in. Each unit brings in a monthly cash flow for the real estate investor which maximizes his income while leaving him with only one set of mortgage, property tax, insurance, etc.

This is a huge benefit over single family investment properties. Single family homes only have one incoming source of funds per property. That means the rent has to be large enough that it will cover the mortgage, property tax, insurance, and still have some leftover for the real estate investor.

Many real estate investors will have empty properties for months at a time. With a single family property, every month it is empty it costs the real estate investor a ton of money. Every month that a unit goes empty in a multi-family investment property, there are other properties that help to pay the rest of the bills. Therefore, the real estate investor has to come up with less out of his own pocket every month.

Another benefit to multi-family properties is the reduced amount of cost per property. On a single family home an investor could easily spend $200,000 in a trendy urban area. The cost to the investor is $200,000 per property. A few streets over, another investor bought a triplex for $210,000. His cost per property is 1/3 of that amount or$70,000 per property. The investor got three times the property for only $10,000 more. Once he starts renting out the properties, he will be bringing in 2 to 3 times more rent.

In addition, real estate investors with multi-family units have less expense overall. There is only one set of mortgage, insurance, and property taxes. This limits the outgoing expenses per month for the investor. In addition, there are fewer pieces to have to replace. There is one roof instead of three separate roofs. There are fewer yards, gutters, toilets, etc. to have to maintain. Multi-family homes are the perfect investments for real estate investors, especially those that are just starting out.

About HomeVestors of America Inc.

Dallas-based HomeVestors of America, Inc. is the largest buyer of houses in the U.S., with 50,000 houses bought since 1996. HomeVestors trains and supports its independently owned and operated franchisees that specialize in buying and rehabbing residential properties.  Most commonly known as the “We Buy Ugly Houses®” company, HomeVestors strives to make a positive impact in each community.  In 2012, for the seventh consecutive year, HomeVestors was among the prestigious Franchise Business Review’s “Top 50 Franchises,” a distinction awarded to franchisors with the highest level  of franchisee satisfaction.  For more information, visit www.HomeVestors.com.