Most investors have a very simple strategy:
“Get properties under contract and flip them for a profit as soon as possible.”
Sounds like a no-brainer, right?
Obviously this is the ideal outcome that every seller is striving for, but how exactly are YOU planning to do this? After all, it’s easier said than done. [click to continue…]
Vacant Land is one of the most overlooked and misunderstood real estate investments in the world.
Most real estate investors completely fail to recognize the superior benefits that come with owning land in its raw form. It’s unfortunate, because the simplicity and stability that comes with owning the right piece of land (purchased at the right price) can far outweigh the myriad of problems that are certain to come up with any other type of real estate. [click to continue…]
There is no question that the technology around us has changed dramatically over the past five years.
In a world that was once dominated by the desktop computer, the release of the first iPhone in 2007 started a major shift in people’s usage of handheld computing devices.
As you probably know, this new development created a massive new market for mobile phone apps which has opened up the floodgates of innovation. If you haven’t already jumped on the smart phone bandwagon yet, you’re probably missing out in a big way.
Of all the apps I’ve bought and tested over the past few years, a few of them have made a particularly meaningful impact on the way I do business. Above all, these apps have been truly instrumental in helping me streamline my business activity and make my life a lot easier. [click to continue…]
Once you’ve crunched the numbers and reviewed your inspections - you should have a pretty accurate idea of what you’re getting into with any rental property.
The benefit of going through all of these steps is that it significantly reduces the amount of guesswork, uncertainty and overall “risk” that you have to deal with as you’re entering into the transaction.
Personally, I don’t like to gamble with my money. I want to invest in projects that are a sure thing. While there will always be SOME level of uncertainty in any transaction, these steps that we’ve gone through can truly set you apart as an informed investor, rather than a “gambler”. [click to continue…]
When you know a deal makes sense on paper – it’s time to make the offer.
Note: If you’re making your offers low enough – it will take some time to get an acceptance (don’t worry – this is a good sign).
It’s a great feeling when a someone finally accepts your offer, but don’t break out the champagne just yet. Before you can close on any deal, you need to make sure that you’re cross-checking everything. You can do this by ordering a property inspection report, ordering title work and tying any other loose ends with your due diligence.
Why Due Diligence Is Necessary
When you’re making an offer – you have to make some assumptions. In 98% of cases, there is just no practical way around this. It’s okay to assume some things (if your purchase agreement should gives you the necessary wiggle room to do this) – but once your offer is accepted, you need to go through the motions of verifying that those assumptions were actually correct. [click to continue…]