Archive for November, 2007

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Real Estate Investors – #1 Advertising Tip

Tuesday, November 13th, 2007

Are you a Real Estate Investor always on the lookout for deals? Are you ready for a really cheap and easy way to advertise? Better yet, are you ready to cheap and easy way to get people to start calling you?

Advertise on your vehicle! Lettering that you can put on your windows or magnets for your doors are a low cost way to spread the word that you buy houses.

Don’t want your day job to see the advertising? Use magnets and take them off before you pull into the office parking lot. But, always make sure the magnets are on for your commute. For many people this is an hour or more of time where lots of people can see your advertising.

Driving the kids to one of his/her sporting events…make sure the magnets are on. Going to the mall to do some shopping? How about the grocery store? Leave the magnets on! Vehicle advertising for Real Estate Investors is a really easy way to get your message out to a lot of people for a low one-time cost.

And it’s not only for buying homes…one of my best contacts came on a Sunday morning at a Coffee & Donut Shop.

I have big white I BUY HOUSES lettering with my phone number and web address attached to the back windshield of my vehicle. It was a Sunday morning and I ran out to the local Donut Shop to pick up breakfast.

I walked out of the store coffee in hand and eating, (probably even had powdered sugar on my face) not paying attention to the person parked next to me when he says, Is that your car? I replied Yes it is and we started talking about the house buying business.

He then told me that he had IRA/401k money to lend and asked me if I would be interested in talking about teaming up. Um…let me think for a 1/2 a second – YES!

You see he went on to explain that he lost money in the stock market and now he only lends his money out to Real Estate Investors because it’s a much better (and quicker) return on his investment.

I gave him a business card (ALWAYS have cards on you!) and we hooked up again shortly thereafter.

As Real Estate Investors it is important to tell the world what you want so the world will bend over backwards to help you get it!

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The Foreclosure Business – Easily Understood

Tuesday, November 13th, 2007

Foreclosure investing has been around for many years but recently the trend is riding high on the wave of opportunity. Should a foreclosure become imminent, basically three scenarios can occur as follows:

1 Pre-foreclosure
2 Auction
3 Real Estate Owned (sometimes referred to as REO.

Explanations Of Each Phase.

Pre-foreclosure – Occasionally it is possible to come to a suitable arrangement with the property owner and the lender to purchase the property at a mutually agreed discount (anything from 25% to 40%). The beauty of this method is that you will have ample time to inspect the property as in a normal sale, arrange finance without being rushed and know that the Title Deed is correct. If you have done your homework with regards to resell prices for the particular property location, you can immediately commission the various works needed and resell the foreclosure property as soon as possible to turn a good profit.

Foreclosure Auctions – Buying foreclosures at auction can lead to the “double edged sword” syndrome. On the one hand this process can produce incredible profits but not without grave risks. You may find yourself bidding against many other professional investors and you must stick to your pre-determined price for the foreclosure property. It is all too easy to get carried away. Risks include
1 May not have been able to inspect the property 2 Title perhaps not researched thoroughly

One can pay for a title search before the foreclosure auction date but this can be costly, especially in the event of you being outbid. The successful bidder will be asked for a 10% deposit at auction close with the balance due within a very short period of time. It has been known to be requested on the same day.

REO foreclosures – When a lender possesses a defaulted property they will want to dispose of it as quickly as possible. They have no desire to wait for increasing market values or wait until “the time is right” after all they are not in the property business.

The Title will not be in dispute (to your advantage). Low risks are involved giving a lower overall profit.

Hopefully this article will have given you a basic idea of the Foreclosure business.

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Homeowners Insurance Rates – How to Get The Cheapest

Tuesday, November 13th, 2007

Thanks to the increasing numbers of hurricanes, storms, floods, tornadoes, and earthquakes in recent years, home insurance rates have gone through the roof. Here’s how to get cheap homeowners insurance rates with a top company.

Decide How Much Insurance You Need

Home insurance covers your home, your personal property, and protects you from liability lawsuits.

To figure out how much coverage you need to protect your home, ask a local builder or real estate agent what it would cost to replace your home in today’s market. Use that amount for your home insurance coverage.

To figure out how much coverage you need to protect your personal possessions, take an inventory of everything you own – furniture, appliances, stereos, TVs, sports equipment, tools, clothing, jewelry, linens, kitchen utensils, books, CDs, etc. Use the total value as the amount of your personal property coverage.

To figure how much liability insurance you need to protect yourself from a lawsuit if someone is injured on your property, add up all your assets – checking accounts, savings accounts, certificates of deposit, stocks, bonds, etc. – and use the total as the least amount of liability coverage you should have. Most people get $100,000 to $300,000 worth of liability insurance.

Go Shopping for Cheap Homeowners Insurance Rates

Once you know how much insurance coverage you need, go to an insurance comparison website to get rate quotes from different insurance companies. To get your quotes you’ll need to fill out a simple form with your insurance information and the amount of insurance coverage you want.

In order to get the cheapest rate, choose the highest deductible you can afford, and request all the discounts you’re eligible for as you fill out the form. By raising your deductible from $250 to $1,000 you can save up to 25% on your insurance, and by getting all the discounts you’re eligible for, you can save another !0% to 30%.

Most insurance comparison websites only deal with A-rated companies, so you know you’ll be getting quotes from reputable companies. The best comparison sites offer a chat feature so you can talk online with an insurance expert who will answer all your home insurance questions and help you get the best homeowners insurance rate.

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