I'm going to give you three examples of how real estate investing mistakes can derail your plans and destroy your dreams very quickly. Imagine yourself in the following three "What if..." situations. These situations will give you an idea of just how quickly you can go from being in charge of your destiny to hanging on for dear life.
Plan A: Bubble Investing more...
A Quick Fix and Flop
You've found the perfect fix and flip property. After running the numbers through your mind countless times you're convinced it's a winner. After rehab expenses, which you've figured no fewer than 100 times, you think you'll be able to turn a profit of about $5,000 if you can sell the property at market value. more...
No Matter What Strategy..
I call this the "No matter what" strategy. It truly is a comprehensive strategy because if you buy a property with the intention of renting it out and you find that you can't make money despite your best intentions, you move on to "Plan B". If your alternative falls apart, you go to "Plan C". more...
Take it From John
Take John for example. Because he knows his own neighborhood and the property values much better than areas farther away from his home, he decided to get started with a property just a stone's throw from his front door step.
The good news is that it's a very attractive property - and he can point it out to his friends as tangible evidence that real estate investing is a great idea. The truth is, he paid retail for the property, but he rationalizes it in his mind because of its proximity to his house. It is after all one of the best-looking places on the block. more...
Working With Contractors
If you’re in the process of overseeing your first property renovation you’re in for a real treat as you get a crash course in working with contractors. While most are professionals who are dedicated to doing the best possible job for you, there are some prima donnas out there waiting to take advantage of your naiveté. Here are some steps you can take before you hire a contractor to ensure that your first contractor experience is a positive one. more...
Entering the World of Real Estate After Bankruptcy more...
How to Find the Best Deals in a Down Real Estate Market
We have already gone over the idea that you want to invest in a down real estate market, and how to be smart about investing, but so many people don’t know how to find the best deals in a down real estate market. Here are a few tips to help you make an informed decision about investing in real estate in a down market. more...
5 Reasons to Invest in a Down Real Estate Market
We’ve been talking about investing in the down real estate market for a while now, but there are so many people out there who are afraid to plunk down the kind of money it takes to get going in a down real estate market. Here are five things you should keep in mind when investing in a down real estate market: more...
Photography is the central component of home marketing.
It increases the effectiveness of web marketing.
It increases the effectiveness of print media.
It makes the agent look good because it reduces market time* and
increases net sales price*.
It will help you compete for more listings.
Few real estate agents have the equipment, and or time, required to do quality
interior photography.
What’s required to produce high quality interior photography?
Digital Single Lens Reflex camera body ~ $2,000
Ultra wide-angle lens ~ $600 - $1,000
External flash lighting equipment ~ $1,000 more...
I've been to a few real estate auctions of REO properties in Chicago. Seems like prices keep going down. Last auction was a Hudson & Marshall auction on February 23, 2008. Purchased 9 properties. Last Hudson & Marshall auction the lender rejected most of the bids as being too low.
