When you’re getting started in real estate investing, one of the first realizations most people have is, "You need money to do this." Only, you might not have $20,000 in savings or a rich uncle that can loan you a fortune. So you think, where can I find the capital to buy my first real […]
In my last post, we uncovered three potential problems with double closings. Generally speaking, they are a overcomplicated, difficult, and occasionally dangerous technique. You can almost always use a different strategy to flip the property, such as an assignable contract or a simple purchase. Both strategies are far easier, especially for beginners.
But sometimes you have […]
Double closings are the hottest selling silver bullet for investors interested in flipping houses. They allow you to:
Get around financing requirements by quickly moving money from one account to another
Keep your purchase price secret by never exposing your contract
Work with less liquid buyers because the "assignment fee" is financed
Sounds perfect, doesn’t it? […]
Financing is always a problem for house flippers. Because of recent problems with mortgage fraud, many lenders have instituted seasoning requirements. They require you to wait 3-6 months before selling the property or a higher value than your purchase price. When you’re trying to flip a house, this is a big problem. Here are a […]
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:
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: