August 4, 2010
Costs of Starting a Wholesaling Business
There are a lot of things to be responsible for when starting a wholesaling business. You’ll be in charge of finding the leads, finding the buyers, bringing them together, finding a good title company and even drawing up appropriate contracts. Once you get the know-how of house flipping basics, these responsibilities become quick and easy. Yet, when you are starting off, it’s a lot to take in.
No one wants to further muck-up the process with worry about unpaid bills and trying to finance these wholesaling efforts. Yet, there are a few costs to be aware of when starting a wholesaling business.
Full article… Costs of Starting a Wholesaling Business
Popularity: 2% [?]
Filed under Getting Started, Wholesaling by mattmiller
July 21, 2010
What is Real Estate Wholesaling?
Real estate investing is an excellent way to earn profits or earn a living, but before you start wholesaling houses for a living you should take a little time to learn what it’s all about.
Wholesaling is in essence a business-to-business trade. You, as the wholesaler seek out a product for a certain ‘low cost’ price and then place that product in the hands of your buyer who is often a hard money lender or another investor.
Full article… What is Real Estate Wholesaling?
Popularity: 6% [?]
Filed under Strategy, Wholesaling by Scott Roemermann
First and foremost; ALWAYS ALWAYS ALWAYS ask experienced investors in your area who they use for property management. If they don't use a manager, ask them if they know of any other good managers other investors they know use.
The following is the list of questions I ask a property manager when I first interview them over the phone before setting up a meeting. If you don't like their answers, it will save you from wasting your time on a face-to-face meeting. There are plenty of managers in any decent sized metropolitan area, so there is no excuse for just hiring the first person who is willing to manage your properties for you at a reasonable rate.
1. What are your management fees (% of rents, new tenant fees, lease renewal, etc)?
2. What services does that fee cover?
3. What does your company charge for other services(evictions, finding new tenants, lease-options exercised)?
4. Is the maintenance you use in-house, or just a contractor frequently used? Do they charge by the hour, or the job? How much?
5. Do you manage properties in the (area you own property) area? If so, how many?
6. How many property managers do you have?
7. How many units does each manage on average?
8. How long has your company been in business?
9. What is the average length you’ve managed the client’s properties for?
10. Do you manage any lease-options/rent-to-own properties? (if you have any or plan on having any)
11. What info do you provide the owner with on a monthly basis? What do you need the owner to do on a monthly basis? How many phone calls to the owner per month on average?
12. How do you advertise and market the properties?
13. Could you email me references right now? (Make sure you call their references!)
Good LUCK!
Popularity: unranked [?]
Filed under Rental Properties by mattmiller
April 11, 2008
Real Estate Investing's Dirty Little Secret
The Whole Truth About Real Estate Investing
I know you probably came here looking for a bunch of secret tips and methods that the real estate experts use to make "the big money" in real estate. Well, while I can and will give you a bunch of good tips, the truth is that none of them are great secrets known only to the wealthy. I've revealed a bunch of things for you to look out for in the report "7 Traps of Real Estate Investing" but in my opinion, there is one secret that trumps all the rest and needs to be exposed.
The dirty little secret of the real estate investing world is that trainers around the country are selling their courses to people, quite comfortable in the knowledge that less than 5% of them will actually do anything with the information. In other words, 95% of people will never do a deal and will never even recover the cost of that course, let alone become a successful investor.
Full article… Real Estate Investing's Dirty Little Secret
Popularity: 17% [?]
Filed under General, Getting Started by Scott Roemermann
