We are currently experiencing a very unique situation that we may not see again in our lifetime. I’m talking about the tremendous opportunity in real estate resulting from the tidal wave of residential foreclosures over the past 2-3 years. Because of recent price declines, many see real estate as very risky right now. Understandably so, people are just plain scared to jump in. But let me tell you – this crisis will eventually run its course and the opportunity to pick up great deals will also run its course. This opportunity is temporary.
Real Estate has always been one of the best ways to create wealth. The riskiest time for any investment is at the top of any cycle. Wouldn’t you agree with me that we are no longer at the top? I wish I could call the bottom – no body can – but I see 7 reasons why now may be the time to seriously consider getting in or increasing your holdings.
1. The fluff is gone. Back in the late 90’s Alan Greenspan spoke of “irrational exuberance” when referring to the speculative build up around the internet boom. Well that’s exactly what we had from 2001 – 2006 in real estate. Well that froth is now gone – and along with it the speculative and even fraudulent (in some cases) activities that ran up prices.
2. Prices have flattened and/or dropped in just about all markets. Prices for home in all price ranges are at unbelievable levels now. It’s a good time to pick up value.
3. Government Programs. Say what you will and think what you think about our over-reaching government but you can’t deny that government initiatives are making an impact on home sales. First time home buyers made up better than 50% of all homes sold in 2009 thanks to the home buying tax credits. Congress extended the deadline once already. Don’t be surprised if they do that again. I’d bet on it.
4. Mortgage interest rates are at all time lows. I remember thinking back in my 20’s how “lucky” my parents were to have a mortgage rate of 4.5%. At that time rates were 14-15%. Well that time is here again. Low interest rates will continue to spur buying where prices will eventually steady.
5. As people are forced out of their homes due to foreclosures - they all need a place to live. They have to rent from someone – so why not from you? Rents are bound to climb and this can generate very high rates of return for you if you pick up a property at a good price and at a low interest rate.
6. Simple supply and demand. The population is growing and they all need a place to live. God isn’t making anymore land.
7. The National Association of Realtors (NAR) predicts there will be 5 million home sales in 2010. They estimate nearly half – or 2.5 million will be foreclosures or either short sales. It’s a great time to pick up great value.
So what are you waiting on? I believe we’re right smack dab in the middle of “The Perfect Storm” for real estate investors. It’s time to get off of the fence and profit from what I believe is the opportunity of a lifetime.
5 Success Tips To Achieving All Your Goals
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Planning and establishing objectives is a good first step in getting started on any project. Then it’s time to act. Many people struggle just getting started. But let’s say that you are successful in getting things off the ground, often its easy to get distracted and lose focus along the way.
What do you do when you come across barriers that hinder your progress? I’m going to share with you 5 tips that are critical for your success.
1. Keep On Keeping On – Have you ever failed at anything? I know I have. You feel devastated, like there’s no tomorrow, ready to just give up. However, I’ve learned over the years that it’s at such times as these that doors actually start to open.
Failing is not bad… if you learn from it. Actually success is a poor teacher, we learn more about ourselves when we fail. People are often so afraid of failing that they never do anything worthwhile – they play it safe. Sometimes, the greatest risk you can take is to play it safe. So go out and try something new. “Since the way we learn is by making mistakes, the greatest risk of all is to wait too long to begin making those mistakes.” Robert Kiyosaki.
2. Be a Decision Maker – Successful people are decisive people. When opportunities come your way, evaluate them carefully, make a decision, and then take appropriate action. Realize that indecision wastes time that could be spent on more productive tasks. You can avoid unnecessary risks by implementing your decisions gradually. Don’t attempt to make every decision at the beginning. Each action is contingent upon the success of the one that preceded it. “When I’ve heard all I need to make a decision, I don’t take a vote. I make a decision.” Ronald Reagan.
3. Develop a Good Attitude – While having a good attitude may not guarantee your success, your odds are much greater than with a bad one. No one controls your attitude unless you voluntary surrender it. Others may do something to influence it but you control it.
Ask your self this question. “If I had a friend who talked to me like I sometimes talk to myself, would I continue to hang around with that person?“ Decide if you’re going to get bitter or better. Either focus on the good and deal with the bad, or vice versa. Do yourself a favor, be an optimist. Believe you me, life will me more enjoyable.
4. Make Good Use of Your Spare Time – What are doing with your spare time? I remember someone saying that it’s what you do in your spare time determines your future.
Are you…
• Watching TV or reading?
• Napping or developing a skill?
• Talking to your friends or studying marketing?
We all have 24 hours in a day — how wealthy you become depends on how you spend those 24 hours. It all comes down to the choices we make every single day. In fact, you shouldn’t let one day go by without making sure you are taking at least one proactive step towards reaching your dream. It’s so easy to just do what you “feel” like doing. The next time you are looking for something to “kill time”, ask yourself, “is this helping me more forward or is it just causing me to just run in place.”
Turn your spare time into money time. Most people live off out their primary income source. It’s what you do in your spare time that will mainly determine how you spend your retirement. It’s O.K. to goof off when you were a kid. What are you doing now?
5. Don’t Overlook Small Details - There is an old expression that says, “If you take care of the little things, the big things will take care of themselves.“ It’s another way of saying that every job is composed of many small details, any one of which, if overlooked, can create big problems later.
If you have trouble dealing with annoying details- set aside a time during your work cycle (daily, weekly, or monthly) to deal with such unpleasant tasks. Prepare yourself mentally to deal with those tasks, and you may find that you dispense with them quickly and efficiently. You may even find that the job wasn’t nearly as unpleasant as you expected it to be.
There you have it. Heed this advice and just watch the difference it’ll make in your life.
Self-Worth Is Just As Important As Net Worth
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Has honesty in business become a thing of the past? With so many people flocking to the internet, many are asking themselves this question as they fall victim to the dark side of the internet.
The internet has a reputation and it’s continuing to live up to it. As people search to find solutions to their problems, many end up spending their hard-earned money on “Get Rich Schemes” only to find out that they’ve been duped. The so-called bargain they hoped for really wasn’t a bargain at all.
As business owners, we need to clean up our acts and bring old fashioned business ethics into the picture. Businesses can and should be more than just for money. Profits yes, but profits can be more that just financial. What about the value we provide for our employees and for our customers?
The word ethics comes from the Greek word ethos, which means “character.” Reputation is what people think of you but character is what you are. For goodness sakes, don’t leave your character at the front door of your business. Let it in.
Here are seven ways you can bring ethics into your business:
- Treat your employees well. If you have employees, pay them enough and provide benefits that will better their lives. Be kind and grateful to them because they are your best assets.
- Be honest even when others are not. Worry about what you do and not your competitors are doing.
- Serve your customers, clients and tenants well by providing great value and by giving them convenience. If you give them fair prices, high quality products and services, in return they will give you their respect and loyalty.
- Provide good customer service. Not only does this meet their needs but is also helps your business earn public trust. Remember that your customers are your best revenue generators.
- Stay away from “Black Hat” practices. I remain amazed at the number of businesses that continue to use unethical practices to sell their product or service. So many people are turned off by these practices. Wouldn’t it be better to have a customer for a lifetime than to have tricked someone into a one-time sale?
- Be fair to your competitors. To make yourself look better, you can either tear down your competition or build yourself up. The latter serves you better. Look at your competitors as motivation to do better.
- Build a win-win situation. Building your business on a foundation of honesty is a two-way street. Your customer gets what they paid for and you get a repeat costumer that will go out and tell his/her friends. You’re building great relationships and a great reputation.
Conducting your business the right way with a clean conscience is also healthier for you. You’ll sleep better at night with gladness in your heart that you’re doing the right things. Gratitude will come your way and you’ll have less stress knowing you’re running your business with high ethics.
So, what will it be? Will you play clean, or dirty? The choice is yours! I know what I’m going to do. How about come along and join me.
Those who are experienced in real estate investing already to know where to find Atlanta real estate investment. Yet, if you are a new investor you’ll need to figure out first where low cost homes are before you buy and sell. When looking to start a real estate business you’ll first need to find the property to sell.
It’s easy to bring in these leads through marketing in newspapers and magazines, online and more. However, the best leads must be checked out first over the phone. They collect enough information to decide if the property is a good option and then meet with the owner. When you find a home that’s suitable to resale, you’ll want to contract in order to buy the home.
When you find a home you like you’ll buy it within a set number of days, for instance 30 to 90 days is usually seen. Lots of investors like to buy these homes with their own capitol. When you sell that home you’ll be able to make all of your costs back with a nice gain. Investors can also start marketing Atlanta real estate investment to their buyer’s list with the homeowner’s permission.
The title company is your next stop after signing an agreement to purchase contract. When trying to get a buyer to purchase the house before closing they’ll let the title company know they are looking to perform an ‘Assignment of Contract’. Letting another buyer purchase the home in your place is done with an Assignment of Contract document and of course, the homeowner’s consent. It’s a great idea because this method lets you sell your ‘option’ on the homeowner’s property to another investor.
When the investor finds a buyer for the property they will sign the ‘Assignment of Contract’ document together later the buyer pays a small ‘assignment’ — around two or three thousand dollars. It can be more if the house ends up being worth more or is a better deal for the buyer. When closing the deal on an Assignment of Contract you’ll introduce the buyer to the homeowner at closing and everyone will sign all the correct contracts and documentation and get copies of such. You’ll also want to take copies of the forms, contracts and agreements over to the title company so they can process the title transfer.
On occasion the buyer will express interest in taking the documents over themselves, let them. So, whether you close on assignment or traditionally it’s important to have a buyer lined up as well as some Atlanta real estate investment. Knowledge of the process makes it go more easily and lessens the risk of encountering problems along the way.
To Learn more…http://atlanta-real-estate-investment.com/
A Guide to the Zestimate for Real Estate Professionals
By · CommentsIf you’re a real estate professional you probably have heard about Zillow.com. Zillow has become one of the most popular real estate sites on the internet. Zillow provides tons of real estate information… all for FREE. You can search for homes for sale, home prices, home values, recently sold homes, mortgage rates, apartment rentals, and much more.
For a real estate investor, this is a fast and easy way to get a snapshot of a home’s value. But you do need to understand how Zillow calculates it’s home valuation – called a Zestimate.
This video does a great job of explaining just how they arrive at their Zestimate.
How to Invest in Atlanta Real Estate
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Despite the recent bursting of the real estate bubble, real estate investing remains a very lucrative way to create wealth. Just look at the mistakes that others have made, learn from them, and don’t repeat the same mistakes.
It really is that simple. But how do you get started? Here’s a quick roadmap for getting started in real estate investing in the Atlanta market.
Establish Your Goals – What are your goals for investing in real estate? Everyone is a little different with various goals and objectives for getting involved with real estate investing. Below are some common reasons for beginning investors.
- Get rich quick – Yea, right. Investing in real estate is hard work and it requires both time and money. That said, we’ll show you how to increase your odds for success.
- Additional cash flow – If you’ve read Rich Dad Poor Dad, you’re probably ready for some cash flow opportunities. This is a great strategy but make certain that you buy at the right price. If you pay too much for your properties then you might find cash flowing in the wrong direction.
- Buy and Hold - Real estate is a great investment for wealth building as it (almost) always appreciates in value. The key is to buy smart as to cover your short-term risks.
- Fire my boss - Most beginning real estate investors have goals to quit their job and become their own boss. I strongly suggest you keep your day and start investing “on-the-side” until you get up to speed on the nuisances of your market and you truly understand risks.
Find Your Favorite Niche – There are so many different ways to make money in real estate. There are also so many ways to lose money in real estate. You need to find your niche and become good at to ensure long term success. Don’t stretch yourself too thin in trying to do everything and not become good at anything.
Build Your Team – whenever you speak with someone in the real estate business, ask them for referrals of good painters, lawyers, contractors, tax advisors, etc. When you need one, call them up and let them know that they were referred to you.
Begin Local - Great opportunities are everywhere in the Atlanta area. Begin looking for properties that are close to your home base and avoid purchasing properties that are hours away. I suggest to start with that you limit your areas to within a hours drive. Every minute that you spend on the road is time away from locating new opportunities.
Start Looking Around – When it comes to this business today, just put the word out there that you buy distressed properties to people you know. Even if you aren’t prepared to purchase, start looking for deals. Team up with a realtor and search the MLS for wholesale deals, fixer-uppers, foreclosures and short sales.
Never Stop Learning – Take every opportunity to educate yourself in all aspects of real estate investing. Read books, articles, blogs about getting started in rehabbing and wholesaling. Then visit the marketplace and contact a few investors that have been around a while. Learn as much as you can and your education will continue to pay out dividends as you grow and mature in the business.