Yes! You can flip a house to an average home buyer. It’s called "retailing." In fact, because of the price range that I operate in, I retail all of my properties. Your money moves a little slower, but the profit margins and reduced man-hours are much more rewarding. Here are a few tips for flipping […]
If you’re like most landlords, you love the idea of raising rent but fear losing all of your tenants. It’s a difficult decision. By raising the rent, you might dramatically increase your income, or you might lose everything because all of your tenants leave. Fortunately, there are solutions. Here are three strategies experienced landlords use […]
Foreclosure auctions — are they good or bad? Before hunting them down and taking the (considerable) time to attend a foreclosure auction, you should know the advantages and disadvantages. Here they are:
Over at Free Money Finance, there’s an interesting post about rich people and happiness. To quote:
Happier people have a better outlook on life, they think the impossible is possible, they dream, they work well with others, and on and on. Let’s face it, happier people simply have more of the qualities that our society values […]
When you talk about foreclosures, most people automatically assume you’re referring to bank owned properties. But not all foreclosures are owned by banks. Sometimes, a homeowner is unable to negotiate a settlement with the lender, so the property goes to auction in an effort to pay off the liens. As an investor, you can go […]
Usually… no. Most of the time, you can wait until the real estate investment is under contract before you order an appraisal. If you’re borrowing money to buy the property, you’ll need one for the lender anyway. If anything fishy pops up on the appraisal, you can usually back out of the deal on the […]
In Part 1 of this series, I outlined three strategies for whittling down the price of foreclosures. In this post, I’m going to give you three more. Where the first three techniques will work for most foreclosure real estate investments, sometimes you need to apply more pressure. Here’s how:
For most beginners, making offers on foreclosures is a miserable experience. When I first started, I crashed and burned 17 times in a row. At the time, I chalked it up to bad luck, but now that I’m older and wiser, I realize that I didn’t know what I was doing.
Now my acceptance ratio is […]
Guaranteed, on-time rent payments. What landlord could resist? The fact is, like any strategy, section 8 rentals have both advantages and disadvantages to think about before basing your future on it. Personally, I avoid the strategy, but I know several landlords that make their living from it. I’ve gathered a short pros and cons list […]
Section 8 is a program for low-income tenants, where the government subsidizes a portion of the rent. You can rent your houses to approved tenants, and the Section 8 program will pick up part or all of the rent every month.
Many landlords enjoy the strategy because it’s guaranteed income. The government pays their portion of […]