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House Flipping Basics
Many people are dreaming about making money in real estate. For most people this will forever stay a dream, but some individuals are able to make their dreams come true. Fact is – even the less experienced individual can make money in real estate if ...
Living In Las Vegas
Las Vegas is one of the sunniest cities in the United States -- with an average 320 days of sunshine per year and only 4.19 inches of rainfall. The winters in Las Vegas are like no other. Many of us do not pack away our shorts because we can wear them ...
Pump Up The Value Of Your Rehab Real Estate Investment
There are two legal ways to increase your wealth. 1. Keep more of what you have (e.g., tax strategies, rehab efficiencies, cost savings) 2. Add value to something (e.g., a real estate investment, stocks, bonds) Let's focus on adding value to your rehab ...
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In this article, I will discuss 7 myths that about real estate investing that are costing you tens of thousands (maybe hundreds of thousands of dollars). These myths persist because most people invest in real estate using conventional financing, which often requires 5% or more as a down payment. Assuming that $150,000 is average price of a house in your area (in most cities, it's significantly more than that), you would need $7,500 as a down payment (and this doesn't even include other fees such closing costs). The purpose of this article is to share techniques of creative real estate investing that debunk these common myths about real estate investing.
1. Myth #1: To create wealth, you have to invest stocks and mutual funds.
Fact: Real estate investing has created more millionaires that ALL other industries combined incluing Internet marketing, stock investing and mutual fund investing. In fact, according to the CEO of FNMA, in the hottest bull market in history, more people ended up creating wealth through home ownership than through stock ownership.
2. Myth #2: Real estate investing requires a lot of money.
Fact: Once you learn how to buy undervalued properties, you can find all types of people who will lend you their cash. You can find these people at your local real estate investor association or by contacting us. Additionally, you can use an option (typically $10 to $100 for the option fee) to control the property and not even need to raise any capital.
3. Myth #3: Real estate investing requires good credit.
Fact: This is related to Myth #1. Again, once you learn how to find undervalued properties, you can find all types of people who will lend you their credit, especially if the property has significant equity. Additionally, you can also use an option to control the property and this technique doesn't require that you have good credit.
4. Myth #4: Real estate investing requires you
to do major rehabs in dangerous neighborhoods.
Fact: While you can indeed make good money doing rehabbing, you can make even more money working with "pretty houses", houses in suburban areas that need little renovation. In actuality, you can make $20,000 or more per $100,000 of property (thus, in a high priced market such as Florida, the average profit would be $40,000 or more per property).
5. Myth #4: Real estate investing requires dealing with tenants, repairs or house payments.
Fact: Again, while you can do that, you can also make money in real estate investing without ever having to deal with tenants, repairs or house payments through the use of options. One of our clients recently made $9,800 in 4 days on his last option deal.
6. Myth #5: You can only make money in hot markets.
Fact: You may believe that you can only make money by investing in hot markets such as Las Vegas and Florida. The reality is that once you learn how to buy undervalued properties, you can make money regardless of what the local or national market is doing.
7. Myth #6: You have to take huge risks when investing in real estate investing.
Fact: You actualy have more control when buying real estate than when you buy stocks and bonds. You can determine the value of the house by using the multiple listing service (MLS) and commercial databases and as long you can the properties under value, you have a significant safety margin.
These myths about real estate investing are probably preventing you from real estate investing and therefore costing you tens of thousands of dollars. By using options and other forms of creative real estate investing, you can overcome these myths and make money in real estate investing without dealing with tenants, repairs and holding costs or needing a lot of cash or good credit.
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SF's diverse real estate frenzy expected to lastSan Francisco ChronicleHow much hotter is the San Francisco real estate market getting? Let us count the ways. -- Office buildings: The 33-story tower at 555 Mission St. is in escrow. Reported price: $450 million. That's about $800 per square foot - the highest figure since ...and more » |
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Commercial real estate services expanding in USReutersBy Ilaina Jonas | NEW YORK (Reuters) - New commercial real estate brokerages are launching in the United States, in what may be a sign that the market's recovery is durable. Australia's UGL Ltd (UGL.AX), a huge property manager, plans to expand in the ...and more » |
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