By Scott Frank
Dealing with a risky inventory marketplace, many folks have grew to become to actual property so one can make investments their well-deserved cash. whereas many traders favor to purchase estate after which promote it speedy, different traders decide to carry onto their estate for an extended time period to gain a better go back on their funding. genuine property specialists Scott Frank and Andy Heller have built a confirmed and varied software for actual property making an investment that includes either ways and allows traders to take regulate in their monetary futures and construct wealth over the years. Their new booklet, purchase Low, hire shrewdpermanent, promote excessive: actual property making an investment for the longer term outlines a win-win-win application, one the place ordinary humans can attain major monetary rewards by means of making an investment in actual property. * Win One: purchasing Low - The traders first win happens via procuring genuine property at a 10-20 percentage through searching out inspired dealers and warding off paying agent commissions. The publication unearths the key to purchasing foreclosed houses with fresh titles from banks and personal loan businesses. * Win : Renting shrewdpermanent - the valuables is rented via a lease/purchase contract. not just does the investor get a down cost from the lease/purchasee, yet she or he additionally gets per 30 days hire that sometimes exceeds the per thirty days loan check. additionally, the lease/purchasee takes at the upkeep and service duties and has a tendency to be a greater tenant in go back for his or her specific lease/purchase phrases. moreover, because the proprietor of the valuables, the investor is ready to obtain tax write-offs. * Win 3: promoting excessive - the ultimate win effects whilst the lease/purchasee routines his or her correct to buy the valuables. the landlord has discovered some great benefits of possessing the valuables and has bought it to the lease/purchasee with out agent commissions. If the lease/purchasee makes a decision to not workout his or correct, the investor nonetheless wins simply because she or he can both expand the rent buy contract and bring up the acquisition fee (based on estate appreciation) or input into one other lease/purchase contract with a brand new tenant and start the cycle of wins everywhere.
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Extra info for Buy Low, Rent Smart, Sell High
Even a verbal “thank-you” goes a long way. For example, one real estate agent has sold us one or two properties a year for the past five years. To show appreciation, we treat him to a special 38 B u y L o w, R e n t S m a r t , S e l l H i g h lunch in one of the finest restaurants in Atlanta at the end of every year. In addition to showing our appreciation, the lunch allows us to solidify our relationship. At one of our last lunches, he told us that we’re first on his call list for northern Atlanta properties.
When you have to make calls to banks, lease/purchasers, repair people, and others during business hours, simply take a few minutes during your lunch or break to handle them. Have a dedicated phone number with voice mail for your real estate business, and make it the only number you give out. This way, the voice-mail takes messages so you can pick your own times to call people back. You’ll find hints about using your time most efficiently throughout this book. We recommend committing five to ten hours a week toward this venture.
Still, the biggest obstacle to getting started in real estate investing tends to be financing. That said, you can get into this business with the money you need for the down payment on your first house, plus funds for repairs and marketing. You may also find opportunities to acquire properties with very little or no money down. In today’s investor lending market, a down payment is usually 10 percent of the purchase price. For a home valued at $100,000 in good condition but needing some repairs, this translates into $8,000 on an $80,000 purchase price (a 15 percent discount plus $5,000 off for repairs).