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Ideas and Opinions from Donald Trump and TrumpU Faculty.
Create Business Credibility by Becoming a Teacher
Ever notice how when you attend a class or seminar, you automatically place the lecturer on a “pedestal” and give him/her credit for being more knowledgeable than you on that particular subject?
So, it only makes sense in your business, to find strategic ways to get in front of your target audience (prospects) and teach them things from your unique prospective. When you “lecture” to your prospects, you have instant credibility with them and become the “expert” in their eyes. You are able to “slant” your class toward your company, product or philosophy all while gaining their trust.
I host 3 monthly
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A Proposal to Solve the Subprime Mortgage Crisis & Real Estate Glut
I consider myself a creative thinker and in-touch with the problems facing the housing markets and lending markets around the country. The surplus real estate inventory with fewer people who can qualify is only going to get worse before it gets better, I am afraid. I say this because with all the financial bailouts going on, lawmakers really aren’t focused on getting the vacant houses filled as much as they are about playing the blame game with the mortgage industry.
Let’s keep that in the peripheral but look at what reforms can be made to get homes bought and sold and
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Deferred Sales Trust Strategy
Find yourself in the enviable position of the sale of an asset which could trigger a capital gain event? First, be thankful you made a profit. Then, figure out a way to minimize your tax liability. The laws are there for those who are astute, to take advantage of. One such strategy is called a Deferred Sales Trust and here’s how it works.
At some point before closing, you set up a trust and convey ownership of the asset to which the proceeds of your sale shall fund. This Trust will act as a tax shelter exempt from income, depreciation recapture and be protected from creditors or
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What's a Loan Modification?
About every 10th spam email I receive these days is talking about services offering something called a “loan modification”. Since many people have no idea what that is, let me define it and then offer up tips on how it works in the real world.
First of all, a loan modification as defined by the US Department of HUD website is “a permanent change in one or more of the terms of a mortgagor's loan, allows the loan to be reinstated, and results in a payment the mortgagor can afford.” The loan modification process is a direct result of banks trying to stay
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How Credit Scoring Works
In the current credit crunch, many investors and individuals are wondering how credit scoring works. What does it take credit qualify to borrow money at the most favorable terms? It a little known secret that now basically ALL lenders use “risk-based pricing” or “tiers” when determining what interest rate to offer. The methodology behind this is to fairly compensate lenders for the risk they are taking by lending money.
What is unclear to most everyone is how credit scoring works and I think it would be nice to have a bit more transparency from the “BUREAUS”. I have discovered that there are 5 ways a
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Can Corporate Responsibility Work With Wealth Creation?
While the two words are easy to say consecutively, we are finding they often do not go together in the real-life practical application.
With the exposure we have had to the downfall of corporate giants like Enron, Arthur Andersen, MCI Worldcom and many others now being bailed out by the Feds, it causes me to pause and wonder if wealth creation is possible with a team of honest, hardworking people unified in an effort to take a product or service to the highest level.
It seems with each new day we are faced with yet another scandalous indiscretion by either a businessperson or politician who
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Networking or Not-Working
It pays to network. I always say that if you aren’t “networking” your “not-working”. Whether it’s socially or professionally, people who network are able to stay in touch with the real world.
I know many of us get caught up in our day-to-day lives and forget to make time for our friends, family or co-workers. When we make time to meet regularly with real people, we get to hear about all sorts of perspectives about life, business and personal relationships.
This is important for 3 reasons:
Networking can keep your social and rapport building skills sharp. Keeping in touch with these skills is imperative in business, too. Whether
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Bad Press - Bad Influence
As I go about my day, I find myself hearing the gloom-and-doom media using scare tactics when it comes to addressing the real estate market. The truth is the media is not just in the business of reporting, they are in the business of selling ad time to advertisers. It’s no surprise that the worse the news, the more our sick little minds want to know about it. It’s how we’re wired and THEY know it.
Let’s start with a positive...I am positive that there is no such thing as “a” real estate market bust or even “a” mortgage crisis”. It’s true
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In Business, Think Big and Succeed Big
Being different is what has made our country great. We have the freedom to think, believe and achieve whatever we set our minds to do. For that reason, we should set our sights on the big dreams we have for our careers.
With “golden parachutes” failing to open for much of corporate America these days, entrepreneurship remains a growing trend. It’s important that we keep finding ways to explore our ideas to the fullest and not dismiss them just because they may seem too grandiose.
Right now, the timing could be right for your brilliant idea and be just what your community, city,
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Going Green Should Save Money and Environment
I have been taking notice that many companies in many industries are promoting themselves as “green” or “eco-friendly”. These are other words that one may associate with being environmentally conscious while using recycled products etc. I have come to the conclusion that those words are synonymous with greed and profit.
Allow me to explain. I find that anytime the “green” title is attached to a product, I have to pay more for it. Why? If the product is made using recycled materials, doesn’t that mean the company didn’t have to buy new components to manufacture it? If they are using recycled materials,
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Real Estate Investors Seek New Options
While lenders are fairly well settled into what they will require for a buyer to qualify for a loan in this new credit economy, many real estate investors find themselves disenfranchised from the process because they are no longer eligible.
It’s true. Whether it be for credit, income or a significant enough down payment, only a fraction of those who would have been eligible just 12 months ago, can still make it happen. So for every action, comes a reaction. The market has gotten creative and I am seeing a resurgence of unique ways people can still buy and sell real estate.
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Need more down? A Self-Directed IRA can help!
The lending landscape is an ever-evolving one. While banks try to figure out what risks they are willing to accept, there seems to be a need for people to get access to more cash for down payments. Historically, people were selling stocks, bonds, borrowing against the equity in their homes, or as many of you know, investing with NO MONEY DOWN.
In the new economy, one way to get access to cash is by tapping your retirement account. With the stock market’s volatility and no real rhyme or reason why companies’ values are in the dumps, it makes sense in many cases
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Real Estate 101: Why Banks Short Sell Pre-Foreclosure
Last month I was coaching about a hundred or so seasoned real estate agents on how to buy and sell pre-foreclosures. It occurred to me that for most, it was a mystery that the best deals are found before the bank forecloses rather than after. The reason this happens is that not only in today’s market but in any market, the bank generally doesn’t want to own the real estate secured by their loans. They will often take less than what is owed and this is called a short-sale.
Most real estate professionals are unclear as to how a short-sale works
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Contract Assignments - Friend or Foe?
Our current housing markets as a whole being sluggish have brought out a tremendous influx of investors wanting to take advantage. The competition is fierce for those trying to find properties at bargain basement prices so investors have to be creative in locating them. One way that is seeming to be catching on is through contract assignment.
A contract assignment occurs when an Assignor (middle-man) finds a property and secures it with a contract. He or she then finds a buyer for this property and assigns said contract to them at a higher price than what he negotiated but usually still at
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Real Estate Is Not Dead: Invest Now While the Market's Reeling
While the press has made the economic downturn and the credit-default swap debacle a top story, don’t let it stop you from living your life and making your dreams come true. Bad news sells better than good news and I am not here to sell anything.
Listen up to what I am about to say...the real estate market is not dead. That being said, there has been a major correction to many of our nations markets but that is just the way that cycles work. The question becomes: Do you want to take advantage of the buying opportunities or sit on the
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Credit-Default Swaps: Understanding the Debacle
Before last month, you probably had to be in the trenches of the financial sector to have known anything about credit-default swaps. That’s why it comes as a huge surprise to find out that there’s been a 55 trillion dollar dirty, little secret on Wall Street. It’s almost unfathomable that these types of hedging practices could have brought down some of the largest and oldest financial institutions in our nation’s history... and most of us didn’t even know they existed.
A CDS contract involves the transfer of the credit risk of municipal bonds, mortgage backed securities, or other corporate debt between
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Real Estate Exchange Agreements: Heard of the REX?
The REX Agreement (or Real Estate Exchange Agreement) is a way for a homeowner to “tap” into their existing home’s equity without incurring any monthly payments or interest charges. A home owner can do this by agreeing to share a portion of the home’s increase or decrease in value over a period of time.
It acts as a leveraging tool: A homeowner who has equity in their home can get an “advance” of a portion of that equity with no out of pocket charges and no new debt service. The home owner gets a few options as to how much they wish to share
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Creative Entrepreneurialism
From difficult times, evolve great ideas and opportunities. There are many reasons why you should be cautious in this kind of unprecedented market cycle. But sometimes, if you are creative, you can find a way to fill a void or find a new opportunity while others are retreating. Just think about the very money managers and hedge fund managers that predicted the sub-prime crisis. You too could capitalize on a great idea if you put your mind to it even in this market.
To do this, you must first clearly have an understanding of how business in a particular sector works. For instance, if you wanted to
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Mortgage Fraud - It Affects All of Us
In the lending business, we are all about rules, regulations and guidelines. We are dealt a set of guiding principles and are expected to work within their framework. The mortgage industry depends on ethical people with honest core values to make loans for the American people and the rate at which people in this industry are breeching this fiduciary duty is growing at an alarming rate. There are a myriad of excuses which can be given for this lack of self-control but the bottom line is that there is NO EXCUSE for it.
The FBI investigated over 1200 cases in 2007 of
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Incorporate: The Life You Save Could Be Your Own!
Real estate investors often ask me how they should structure their business. They ask, “Should I be a sole-proprietor, LLC (Limited-Liability-Company), or an S-Corporation?” The answer is “Yes!” In my opinion, there is a time and place for each of these types of organization but I favor the LLC.
In the beginning and certainly if you just own a couple of homes as rentals, the sole proprietor approach should be sufficient. It is an inexpensive way to organize but offers you no protection to the exposure of liabilities. No need to fear! You can insure against this risk with the proper insurance policy which will offer you around
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Real Estate Investing Is Like a New Business
As an investor, it’s easy to get blinded by the fancy window dressing that a particular agent or seller is putting on when presenting a property. I want to encourage you to evaluate each property on a standalone basis much like you would if you were buying a business...because you ARE. Whether you own one property or one hundred, the recipe for its success is virtually the same. You will need to create a business plan complete with earnings/expense pro-formas while projecting rates of return and contingencies for cost overruns.
There are many different ways to approach this plan and Trump U offers courses and
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Negotiate a Win-Win
I received a baseball type of cap when participating in a golf tournament about 10 years ago and I still wear it because it reminds me of an important principal: On the front of the cap it says “ Win-Win”. I equate that phrase to mean that you can be a winner at negotiating by seeing to it that the other party is still getting their needs met in the transaction. And, just because you win doesn’t mean someone has to lose.
My most successful negotiations have come from bridging the gap of misinformation and miscommunication between buyer and seller. Once I can get to the
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Accidental Landlord-How Does It Happen?
Statistics show that at least one landlord in five are now doing so out of necessity rather than by planned and conscious choice. These people did not purchase their properties with the intent to lease them out...it just sort of happened.
For instance, my friend Dave and wife, Delores in Dallas had a home built in the suburbs by a new home builder about two years ago and moved in. They added all the fancy upgrades such as a media room, hardwood floors, etc. The home turned out beautifully and almost simultaneously, Delores sought and attained a great job in the Houston area at the
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Use Private Equity to Get Deals Done
We have all heard the terms hard money and private equity... but do you know what those are and how to get your hands on capital when you need it? Although they get a high rate of return, they are sometimes the only way to get your prospective deal financed. They are in a risky business and are handsomely compensated as a reward.
For instance, if you wanted to buy an apartment complex or retail center and the bank wanted you to have 25% down as an equity position, you could seek out a private equity partner to come up with any cash you
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Try Independent Insurance Agents
Maybe I am a bit biased and am so because I did my homework and researched the pros and cons of the “captive” agencies versus the” independent” ones. As an independent insurance agent, I feel good about having the ability to shop for the best possible product and price for my clients. I keep the carriers honest by doing the exact same each renewal. As a captive agent, I would have only one basic product available to offer my client and if we weren’t competitive with that particular client’s set of risks, I would have to reject them and send them down the street
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The Opportunity is High in Rental Properties Right Now
Think about this... around the country, there are many areas that are experiencing a pricing downturn in home prices. Simultaneously, home loan requirements are on the rise making it more difficult for homebuyers to qualify. Add that to the millions of foreclosures causing families to be displaced looking for more affordable housing. Where are those families going? The answer is simple. They are moving into rental properties that are more in line with what they can now afford to pay.
This of course spells opportunity for the buy and hold for those interested in real estate investing looking for long term rental income. Are you hedged in enough positions
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The Rewards of Real Estate Mentoring
My last blog about real estate mentoring was aimed at challenging readers to reach out and mentor others. Part two is all about reaching up the ladder and seeking mentoring from others who can provide valuable information to help you grow both personally and professionally. Just like in religion, we seek mentoring from our pastors, preachers, rabbis etc. What I am suggesting is to find a real estate mentor of integrity, who has been there, done that, and get them to help you learn what to do and not to do in order to achieve your ultimate goals. You don’t have to “re-invent the
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Quick Ways to Change the Appearance of Property
I tell my clients that there are 2 things that we can’t cost effectively change to make their property more desirable when trying to sell an investment property...location & floor plan. Everything else is fixable.
If you bought a property in an undesirable location and are trying to sell you had better make everything else unique and perfect. Take some time and give it a quick home makeover. Find out about the demographic of the type of people most likely to buy in the area and then cater to them when staging the property. For instance, if it’s near a “trendy” area, make sure you get modern
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Learn, Share and Succeed with Real Estate Mentoring
We all have special qualities and skills that are too valuable to be kept to ourselves. I feel compelled in my life to mentor others in those areas as a form of community service. I have been blessed with an incredible family, a level head on my shoulders and a wide variety of life experiences which have shaped the person that I have become. In the past, I have mentored disadvantaged kids and currently am serving on the Board of a sizable children’s shelter and counseling center in my local area. I am passionate about seeing to it that children, whose voice is often
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The Surefire Way to Minimize Cost While Selling Your Property
It’s no secret that MLS is the most popular residential real estate database in the country. It’s proprietary and the only ones that have full access to add, edit, and manipulate the data are licensed real estate professionals. Here’s the secret...these days there are many other databases buyers can use to search and find homes without having to wait on their Realtor® to discover them. This spells opportunity for the smart independent real estate investor.
While using a skilled Realtor will most often net you more money than if you chose to go it alone, there is something to be said about “super-charging” your
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There May Be Too Many Fingers in The Pie...
Today I am wanting to discuss the topic of too much real estate finance competition in the lending industry causing consumers to have paralysis of analysis. We are inundated with advertisers trying to get us to use their financing. Everyone from our insurance agent, realty agent, bank teller, home builder, accountant, lawyer, financial planner, tax preparer, accounting software company, newspaper and magazine subscription and web search engines are trying to sell us a mortgage. I apologize to any bartender or golf pro who I may have omitted from my list.
The fact remains that with so many of our current trusted advisors and vendors soliciting
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Builders and Their Business Arrangements...
Have you ever walked into a builder’s model home and after some small talk with a sales representative and a preview of some of the floor plans, been told about the thousands you can save by going thru the “preferred lender” and “preferred title company” when you are looking to buy an investment property? My guess is that if you have visited a builder, then your answer is “YES”.
The program typically works like this... The builder is offering $5,000-$10k in free upgrades if you use “ABC Lending” and will only pay for your title policy if you use “XYZ Title Company”. They know
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Energy & Tax Extenders Act of 2008
HR Bill 6049 could be another great incentive to get into investing in real estate! While “the bill” as proposed, takes a multi-pronged approach to help stimulate a variety of industry sectors, today I want to address how the bill particularly could impact both the residential and commercial real estate markets.
One of the most exciting line items in the bill allows for investors to get a bit of instant gratification for improvements made to their properties being leased. Traditionally, capital improvements have had to be straight-line depreciated over a 15 year period. In the proposed bill, a investor can take an investment property write
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Does Size Matter To You?
Another golf analogy...
I have a few buddies on the national long-drive circuit and recently went to watch an event when they came to town. As a golfer, I can’t help but be amazed at how unbelievably far these guys can hit it. They are extremely strong and surprisingly flexible. While I can’t compete with them in this arena, I can usually beat them in the root derivative of this game called golf. It seems that there is more to golf than just beating the ball as far as possible and hoping one stays on the course.
The same can be said for every business along with
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"US Open-Like" Economy
I am a huge golf fan and enthusiast. I play to a 5 handicap and DVR most of the PGA tournaments to watch in my down time. Since this week is US Open week and which in my opinion, the biggest tournament stage in the world. I thought about how the US Open relates to business in our current economy and here is what I have come up with.
The US Open is a tournament which anyone with a 1 handicap or better can register to play in qualifier tournaments being held around the country. In other words, it’s OPEN to amateurs and pro’s alike and
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Tax Lien Investing Another Great Niche
All we keep hearing about these days is gloom and doom due to the record number of foreclosures in this country. Ever wonder if anyone is making money during these trying times? The answer is a resounding YES! I know guys who predicted these days were coming and made hundreds of millions “shorting” the market with the hedge funds they run. If you know anything about the dice game called craps, then you are familiar with the “don’t pass” line on the table. It’s an unpopular bet at the gaming tables because you win when everyone else loses. You must be visibly pulling for the table’s good
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Solar Energy - Is it Worth the Expense?
I am trying to learn how to be more energy efficient these days and along with hybrid cars being all the rage and solar panels being used as a renewable energy source for residential and commercial investment properties should be evaluated.
The best I can tell, there would be about a $25,000 cost to install 100 sq ft. of solar panels on my southerly facing rooftop. If I consider that the system has an economic life of at least 25 years, then the math is pretty simple. It will cost me about $1000/ year to own the solar panel system. I can expect a 40-60%
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Think Green and Make Green
I am always trying to think outside “the box” in an effort to distinguish myself and services from everyone else’s in this 2 million-horse town. It requires some serious disposable time in order to be able to accomplish this and with three kids under the age of six and it is not something I have a lot of. An area I think we should all be focusing on is how we can have progress in both our personal and professional lives while being mindful of the environment. It sounds cliché, but since going “green” is the “IN” thing, there has never been more financial
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Are There "No Cost" Loans?
I have been in the lending business for 17 years now and am truly amazed at either how well the lending community has disguised the real estate finance process or how many consumers don’t care learn what they need to know before proceeding with borrowing money. It may be a combination of both, though, and lenders are counting on these uninformed or under-informed consumers to get their phones to ring.
On one hand, many finance companies are attracting business thru bait and switch tactics and I am fed up with it. They run “adv-enticements” for “No closing cost” mortgage loans and/or artificially low rates
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Smarter Than A 5th Grader?
I have a friend in Dallas whose children attend a private school and I recently learned of an exciting annual project worth noting. The school begins with pre-kindergarten and ends with 4th grader’s graduating with a celebration akin to a high school’s. Now this school has several wonderfully unique endeavor’s it teaches it’s pupils such as a real live opera fully staffed and produced by the kids in 4th grade but the most amazing to me was the business the children create themselves to teach them about how to run a company.
It all starts in 3rd grade where the children research chickens, decide
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Be Your Own Real Estate Tycoon
Ok...so you are not Donald Trump but you have aspirations of joining the ranks of the wealthiest in the business. This business is tough and there are a lot of cut-throat competitors so you will need to equip yourselves with a few tools in order to survive.
First things first. It’s important to have the necessary real estate finance available so that you are positioned to move on a transaction when the opportunity presents itself. Even “The Donald” leverages himself with borrowed monies or equity partners. It spreads out the risk and allows you to increase the scale of your investment capabilities.
Next it will be
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It's Who You Know - Leveraging Strategic Partnerships & Networking Groups
Today I would like to talk about strategic partnerships and networking as it pertains to attracting new clients especially in real estate. No matter what your business, you can broaden your market visibility and attract more clients by getting out of your offices and getting proactive.
You should identify which organizations your best potential clients belong to, then JOIN and PARTICIPATE. Be an active member of the “association” and utilize the member roster to make new contacts. It’s important take on leadership roles or get on committee’s as soon as possible to show those prospects you are serious about their cause. There are usually sponsorship
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Insurance Coverage. Are You Really Covered?
Just having gotten back from a continuing education conference for my insurance license, I realized that many consumers don’t understand what their insurance covers and as important, they are not aware that they have insufficient insurance coverage.
I guess not all insurance agents are created equal. Agents that are only selling “price”, tend to leave out important endorsements that their customers need in order to compete for the business. This leaves the insured in quite a predicament when the unexpected need for a claim arises. The insured initially purchased what they thought to be a full coverage insurance policy to protect themselves against any unforeseen
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Stage Your Properties
Whether your real estate investment is for sale or for lease, one sure way to get the highest return is to “stage” it properly. Doing this will paint the picture and imagery you want for your target audience and make them want the feel you have created.
Identifying your target audience is key. What demographic are you trying to reach? Are they “yuppie urbanites” looking at a condo or condo project in the city? If so, you will probably want to go with a modern and trendy look to stage the property. Use some contemporary furnishings and focus on the art and accent groupings. Be creative and also
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Live in Your Investment
I am constantly trying to help my clients come up with creative ways to buy and sell real estate. When I get the type of client that I think would be interested, we talk about how a great way to get into real estate investing is to buy an income producing property that you can utilize for yourself, too!
Whether you want to buy a residential or commercial property, you can get more favorable bank terms by “owner-occupying”. The actuarial tables for projected default to the banks show that if you own property and are occupying it for your use, you are less likely
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5 Tips to negotiate the highest return in selling real estate
You make your money in real estate when you purchase it. In other words, it’s extremely important that you shrewdly negotiate to win when you buy to give yourself the highest return on real estate when you sell. To do this, follow my 5 simple negotiating tips and you should succeed.
Don’t fall in love - Treat your purchase as a business and check your emotions at the door. Use your head rather than your heart because this will keep you from buying at any cost. If the deal makes financial sense.
Don’t just low ball...validate - When submitting an offer which is below what the seller
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2, 4, 6, 8 Don't Forget to Depreciate!
Today I want to make investors aware of a well known tax break offered up by the IRS that allows them to depreciate their properties as they would any other fixed asset as a business owner. While it’s not a new concept, not all investors are aware of this and with the influx of new investors into the market, it’s important to bring this into light.
The government, in its attempt at fair taxation, realizes that just like any other piece of capital equipment used in a business, a piece of investment property will wear out over time. They currently allow you to depreciate
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Should you hire a property manager?
As an owner of an investment property, the question arises as to whether or not you should hire a property manager to help you. It’s an important decision and the answer can vary on a case-by-case basis for several reasons.
I recommend that most “first-timers” go ahead and enlist the help of a property manager in the beginning so they can get a feel of what to expect from the monthly processes that encompass the task. You can learn a lot of ways to efficiently handle the marketing, leasing, billing & collections, repairs and most importantly of all, what rights you have in your
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Second Home Tax Deductions
I never like to assume that consumers know the best strategies when it comes to structuring their real estate holdings, so when publishing a generic blog article I will assume that my readers have no knowledge. It’s no news flash that one can itemize expenses associated with owning a second home such as interest, taxes, PMI etc.
There are a few gray areas, however, that the IRS wants to be sure you are clear of before filing that return. Are you perfectly clear on what is considered a second home and what is an investment property? If you have tenants renting this property for a
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Challenged Credit is Good News for Investors
One thing that has come from the economic downturn of late is the need for viable housing options for those consumers with damaged credit and who may have recently lost their homes to foreclosure. In my market area, I see plenty of this and have been unfortunately declining many loan applications due to credit and lack of available loan programs for these types of customers.
As a real estate investor, I think this is a wonderful recipe for success. Where are all of the people going to live who were formerly candidates to buy and now are forced to continue to lease for another
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The Real Estate Market is Perfect for 1st Time Homebuyer
I consider myself an extreme advocate for the first time homebuyer. After all in my businesses, they are the ones who need the most representation. While a nice chunk of my business comes from repeat customers and high-end clients, I always take the time to help out the first-timer because I have an affinity for educating consumers. When I get the phone call, it usually goes like this....”I know you usually work with much bigger deals than mine, but I heard you could help me or at least refer me to someone who works with first time buyers.”
My response to this is “I really
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Don't Let Bad Press Scare You Away From Buying Real Estate!
Ever notice how when you turn on the news, you usually get the bad news first. They first have to tell you all about the murders, burglaries and tornadoes. Then, if there is time, they will throw in a “feel good” story at the end to try to leave you with a positive taste in your mouth.
The same can be said about how the media is portraying the current real estate investing markets across the country. You can’t turn on a television or pick up a newspaper without being inundated with the reports about how terrible the market is. I believe this is occurring because
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Real Estate Marketing Ideas During An Economic Downturn
So you are one of the millions of people in America who has real estate for sale and you haven’t yet found an agent with any fresh ideas to help get your property sold. Keep looking because there is more to selling a home than posting the home on the local real estate association’s website and sticking a sign in the yard. You have to be different...STAND OUT in the crowd given just about every economist is skating around saying we are already in a recession.
Sure, there are more databases you can list with, expensive ads you can run and commission bonuses you
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Properly Structuring Insurance to Cover Your Assets
Along with taxes and spring cleaning each year, should come a time of introspection into your assets. Do you carry the right amount of insurance to sufficiently protect yourself and your possessions against unexpected perils? I am talking about the third “must do” besides death and taxes...Insurance and how to make it part of your asset protection program.
I am surprised at how many people have no idea about what their insurance covers, what endorsements they are paying for, or what deductibles they have. They spend thousands each year between health, accident, auto, home, liability and commercial insurance and much of their
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Important Tips To Keep In Mind Prior To Investing In Real Estate (Part 2)
A week or so ago, I wrote about the 7 common “delusions” that most new real estate investors have when investing in real estate. The first one was about how they want me to find them properties that are 30-40% below market value and then they will “buy and flip” them. Today’s topic will focus on the second most common one...
Delusion #2 “Rates are low and I should be able to get a loan with no problems.”
This may not necessarily be the case. Our lenders in today’s market are much more conservative than they were even just last week! They have “written down” tons of
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Surefire Ways to Increase Real Estate Market Value
I recently wrote about what improvements can mean to your home in terms of return on investment. The National Association of Realtors publishes an annual report detailing a range of updates one can do to their home and what percentage of increase in value to the home might occur upon sale. What I want to identify are a couple of areas to key on when deciding on what do to improve your home’s worth and get maximum return on your real estate investments by maximizing market value.
I can’t stress enough the importance of a good first impression. Just like with people, you only get
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Gas Prices and Real Estate
Is there a correlation? I say yes! As the price for a gallon of gas blows by the $3 mark and according to experts could “bee-line” towards $4, I would say that this is further bad news for suburbanites living more than 30 minutes from the business epicenters of major cities. People’s fears about the long commutes to work and the fuel costs associated with long drives twice per day, will one day soon change their minds about where they should live.
It’s my belief that they will start choosing to live much closer “in” to those cities to avoid some of the rising
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Time is now for Real Estate Investors
We have in our country an interesting dynamic going on as it pertains to the real estate investing market. Due to the generically sluggish sales of both new and pre-owned homes, and an apparent historical glut of foreclosures we are looking at a tremendous buying opportunity in much of America. Add to that the normal cycle of “non-distressed” homes for sale by move-up or move-down sellers, and even the shrewdest of investors should be salivating.
I have just mentioned about the supply of inventory being bountiful, now let’s talk about the demand for these properties. The percentage of people who can now qualify for a
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Should I Update Before Trying to Sell?
When deciding to sell a home in today’s market, investors and homeowners alike often ask me to tell them what they should do about updating their home and what will give them the most “return on investment”. According to the National Association of Realtors’ “Cost vs. Value” Report, the average returns for most updates/ remodels yields between 65%-95% nationwide. The trouble with using these figures is that in any given area of the country, there could be more or less demand for the type of updates needed. DO refer to the Cost vs. Value Report to see the average demand for particular types of
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Important Real Estate Investing Tips To Keep In Mind Prior to Buying a Property
Daily I receive calls from prospective clients who are 1st time real estate home investors looking to capitalize on a slumping real estate market. And, for the most part, they always have the same 7 delusions about how to go about making money in the real estate game. It’s like they all were lying awake watching the same infomercial at 2 o’clock in the morning on their couches. I will discuss these “delusions” separately over the coming weeks individually as each one deserves it’s own detailed response. The end result will be to show each reader what to look for and how to
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A look at foreign real estate investment in the U.S.
We’ve all heard enough about the troubled real estate investment markets in many parts of the United States and how sub-prime lending is being offered up as the sacrificial lamb to foot the blame. I want to focus on an interesting dynamic this has created for foreign investors and what we can learn from them.
As times are tight here in the U.S. and our dollar’s value is near it’s all time low, many foreign investors and investment companies are seeking opportunities to pick up some bargains in real estate. They are flush with cash and are finding no shortage of deals to be
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8 comments
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