Our mentors are individual investors who have a strong track record of profitable win-win deals using multiple strategies. Often our mentors are former students, and they know what it takes to start, grow and be successful in real estate investing.
First, ask yourself these questions to see if you may be a candidate for a property manager: Do I have time to manage my properties? Can I evict my tenants if needed? Can I follow the rules I have set
Photos There are two approaches to take, 1) Do It Yourself or 2) Hire a Professional Photographer. While it’s quick and easy to snap photos using your camera phone, it won’t provide the same level of quality if you hire
If you’ve decided to get out of your own way and want to locate the best property manager for your asset, where do you begin? Follow the below steps to finding an excellent property manager: Ask other landlords Ask questions
Fix and Flip: When it comes to a Fix and Flip, how can you , as a land development expert, make money? You can buy a property that needs to be rehabbed. Let’s say that the property can be subdivided
Short-term rental businesses are some of the easiest to manage. The size of your property can also help determine the design aesthetic. If you’re offering a studio apartment, it’s unlikely you’ll attract a family, but instead a couple or an
Office and warehousing can be a powerful combination. 10-30% of the building is designated as commercial or office space, and you can offer this to attract a diverse tenant. Office and service combination, 20-60% of the building is designated as
Strategy #1: Renting Out Your Property If you purchase a property or already own a property, you have two rental options. 1) Shared Housing: You live in one bedroom and rent out the remaining bedrooms. You must define what areas
Types of commercial leases are: Net Lease Net, Net Lease Triple Net or NNN Absolute Net Lease. The tenant progressively pays more and more towards the building with these leases, including Common Area Maintenance (CAM) charges, insurance, property taxes, and
One of the main benefits of listing your property as a short-term rental is that you can charge a daily rate that frequently provides a higher revenue per month than a traditional tenant. Below are some of the benefits of
Examples of commercial real estate are: Office buildings Retail Warehouses Apartment buildings Industrial Mobile Home Park Creative financing options are more available in the commercial market than residential. Commercial lenders are very familiar with seller financing and other creative terms.
After viewing the details about a potential property you are interested in, your first step may be a Letter of Intent (LOI) outlining the parties’ initial understanding before entering into a binding contract. Be sure your offers provide substantial time
Finance companies may be another source – including credit cards to take a cash advance against the card. Make sure your numbers show you can profit after considering the cards’ finance costs and monthly payments. Another source – the seller
Lenders. Suppose the home is personal property (the land is not included with the home). In that case, you will want to know lenders who offer chattel mortgages and finance companies. Chattel mortgages are used in the financing of manufactured
The Multiple Listing Service (MLS) does have a category for manufactured housing. It is typically identified as a home type. It is located on private land as opposed to those found in mobile home parks. However, the MLS is not
Land and Lots There are situations where the manufactured home remains personal property and is placed on the land. The land is considered real property. In this case, the land appreciates while the manufactured home, technically, depreciates. Although, the actual
There are many misconceptions about this type of housing. One of the biggest ones has to do with the house being mobile. While it is true that manufactured homes are delivered via the highway, that is often the only time
Build Your Marketing Message The Marketing Message Once you have identified your targeted leads, you can build your marketing campaign and create messages to capture their attention. If you have a phone number, you may call them and find out
Motivated Sellers To find motivated sellers, you must first understand what causes their motivation and then consider what signs you may look for that indicate they are distressed and need your help. For example, someone who is facing foreclosure is
Who needs to know that we can help them with their real estate needs? Sellers who NEED to sell to solve a real estate problem. Tenant-Buyers who want to be homeowners but may need some time to get into a
More Creative Finance Strategies…by Steve Hipple Syndicate mortgage could be considered ‘next level’ investing and combines multiple lenders on one property and mortgage. Syndicate mortgages are powerful and allow lenders with smaller amounts available to join other lenders for the
Types of creative financing: Joint venture partnerships Private lending Seller financing Home equity line of credit Hard money loan Lease option Deferred mortgage payments An unsecured line of credit Land contract Blanket/wrap mortgage Self-directed funds Balloon payment Contracts for deeds
“Give me a place to stand and a lever long enough, and I will move the world.” ~Archimedes Did you realize, people are acquiring no money down properties every day? Do you know anyone else who acquired properties this way?
In a pre-foreclosure situation, if you buy the house directly from the homeowner, there are typically two scenarios. The property either has equity or little to no equity. If the property has little to no equity or if more is
Working with foreclosures can be a great investment strategy. One of the reasons is that there are usually foreclosures regularly regardless of the situation or reason. This provides us with a steady stream of investment opportunities. Someone is often falling
Getting to The Finish Line! Is your finish line getting your rehabbed property RENTED or SOLD? If your goal is to RENT your rehabbed property, we recommend hiring a Top Property Management Company. Let them do what they do best.
Punch List & Preparing to Sell (or Rent) When your contractor says, “the work is finished,” the project is not yet complete! Instead, that statement means it is time for you to thoroughly inspect all work done by your contractor
Managing Your Rehab Projection Whether you manage the team and rehab project independently or use a General Contractor, ORGANIZATION & COMMUNICATION ARE KEY. The more organized you are, the faster you can respond to questions and situations that may surface
Completing Critical Paperwork Finding a contractor to work on your rehab investment property is an important first step. Once you have found the right contractor, you must use these six (6) Critical Documents to ensure you have the legal protection you
Hiring Your Contractors The hiring and management of contractors are crucial in any rehab project. If you are handy, your instincts might be to save yourself some money using the do-it-yourself (DIY) approach, don’t. Your time is too valuable and
