This is a short video in response to recent email question regarding the due on sale clause and note creation.
If you have a question please send it in and I’ll answer it.
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I read an article yesterday and it reminded me of some the things you need to think about as your growing, building or starting your investing business.
Forget about flipping and rent
Unless you’re buying real estate at basement prices or your selling on terms, you should plan on keeping it as a rental property.
The purchase price is just the beginning
Don’t forget about the closing cost, fix up costs, holding cost, cost over runs etc. If you don’t factor in all the other cost, your going to have issues
Know the trends of your market and be careful of a Micro and Mini Market. These are smaller markets inside a bigger market. If you’ve seen houses on one block for 200K and then houses two blocks away at 60K, these are Micro and Mini Markets and they can burn you if your not aware of whats going on inside your market.
Know your tenants
The current economy is producing tough economic situations. Don’t think that you have to put the first Tom, Dick or Harry into your place, qualify them and make sure your happy with what you see.
Investing brings responsibility as well as rewards
At the end of the day, real estate investing is a business. If you’ll treat it like one and make sound business decisions in this market. You will have a tremendous increase in personal wealth in the long run.
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Getting investor money is not easy these days but if you’re creative and know how financing works you’ll have access to as much money as you need.
To find the ultimate investor loan look no farther than the property itself. Today Seller Financing is the ultimate investor loan and here are some reasons why;
It’s easy to get
investors know that a fast sale will require some type of seller financing
doesn’t affect your credit report
do as many deals as you wish
sell all or part of the income stream for cash
create your own terms (interest rate, amortization rate, etc)
collateral based / not credit based
it can be traded / borrowed against
In my new video (Click Here) it talks about the need to focus on the paper in today’s market. The sellers paper or seller financing will produce the ultimate investor loan.
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Tucson bound - Airlines have it wrong. Bags free under the plane. Charge to carry on if it doesn't fit under the seat. Faster on, faster off 2010/03/10