Articles by Richard Reichmann on ArticleSnatch.com

Foreclosure Wars In Your Area?

Fri, 16 Nov 2007 00:00:00 -0500

The neighborhoods hit the hardest by foreclosures were not always a haven for criminals and despair, but with hundreds of foreclosures, it can destabilize any community. Some neighborhoods around the country have upwards of 800 houses going through foreclosure. Essentially entire streets are being abandoned. And of course crime increases as vacant properties offered shelter to questionable elements. Standing alone, in many cases, is the help offered by the pre-foreclosure investor. Offering tough-minded negotiation of terms to the lenders has been the role of the investor. Armed with the latest mortgage regulation information and neighborhood comparables, they will work with the distressed homeowner. U.S. foreclosure filings for August more than doubled from a year ago, data released this week showed, confirming a trend already well understood in many regions throughout the country, and no state wants to wear the mantle highest foreclosure rates. Complicating the problem is a national housing glut, which makes it harder for struggling owners to sell and pay off their debt. Also, investors who play a big part in supporting the mortgage industry are starting to shy away because of the problems, which will mean less available money to loan. **End Summary** Topics: foreclosures]]> preforeclosures]]> make money real estate]]> make money in real estate]]> short sales]]> ]]>]]> About the Author: ]]> Richard Reichmann is internationally known as a millionaire maker. He's a leading consultant in real estate and internet marketing strategies that are profit proven. Subscribe to our FREE newsletter Value $147.00 http://www.InstantRealEstateWealth.com

Brass Balls Real Estate Investing

Wed, 10 Oct 2007 00:00:00 -0400

There are plenty of homes for sale, a record number nationally and perhaps an all-time high in your neighborhood as well. But apart from those folks who must move for one reason or another, there just aren't many buyers. Even the looky-loos are staying away. The reason is that people are afraid to dive in at a time when they think housing prices may be dropping. That's why most would-be buyers have taken themselves out of the game until prices hit bottom, which could be a mistake for those who plan to stay in their new homes for quite a while. The common wisdom is that if the house of your dreams comes along, go for it. After all, it may not be available six months from now. As long as you remain in the house, any further drop in prices will be offset by rising prices down the road. In all likelihood, you'll make money in the long run, so your best deal could be right now. That scenario notwithstanding, for most people, today's situation raises the question: How do you know when prices have bottomed out? **End Summary** Topics: Real Estate]]> Make money in real esyaye]]> make money real estate]]> preforeclosures]]> short sale courses]]>]]> About the Author: ]]> Richard Reichmann is internationally known as a millionaire maker. He's a leading consultant in real estate and internet marketing strategies that are profit proven. Subscribe to our FREE newsletter Value $147.00 http://www.InstantRealEstateWealth.com

7 Secrets to Enormously Profitable Real Estate Investing

Thu, 06 Sep 2007 00:00:00 -0400

Knowing how to negotiate and close a deal is one thing. Being able to structure different types of transactions and think on your feet when in front of a seller is quite another. You need to become a transaction engineer so whatever comes your way you can handle. Here are some examples to work from and build your real estate portfolio. 1. Buying a property in pre-foreclosure involves approaching the borrower/owner and offering to buy the property outright. The borrower/owner can walk away with something to show for any equity in the property and avoid a bad mark on his or her credit history. The buyer has time to research the title and condition of the property and can realize discounts of 20-40 percent below market value. If the loan is not reinstated by the end of the pre-foreclosure period, potential buyers can bid on the property at a public auction. Buyers often are required to pay in cash at the auction and may not have much time to research the title and condition of the property beforehand; however, a public auction often offers some of the best bargains and avoids the unpredictability of dealing directly with the borrower/owner. 2. **End Summary** Topics: Make money in real estate]]> preforeclosures]]> foreclosures]]> short sale courses]]> lease options]]>]]> About the Author: ]]> Richard Reichmann is internationally known as a millionaire maker. He's a leading consultant in real estate and internet marketing strategies that are profit proven. Subscribe to our FREE newsletter Value $147.00 http://www.InstantRealEstateWealth.com

Pre-Foreclosures The Millionaire Maker

Fri, 31 Aug 2007 00:00:00 -0400

If you truly want financial freedom, now is the time to invest in pre-foreclosures. Yes, now is the time because foreclosures are at an all time high nationwide, and it isn't going to get better any time soon. Properly done there will be many millionaires made in this market for the next few years. It's quite simply the law of supply and demand along with the knucklehead lenders that allowed the public to purchase properties of much more than they could afford. These adjustable rate loans have now adjusted upwards to the point where the payments are no longer affordable and my heart goes out to the families that have been duped by these lenders. If you are one of those lenders and you are reading this all I can say is shame one you. But the great thing is those same lender are now getting what they deserve. The old saying, what goes around come around is so true. Just look at Countrywide and many other lenders that are now sitting with literally thousands of(REOs) properties. **End Summary** Topics: foreclosures]]> preforeclosures]]> make money real estate]]> make money in real estate]]> short sale courses]]>]]> About the Author: ]]> Richard Reichmann is internationally known as a millionaire maker. He's a leading consultant in real estate and internet marketing strategies that are profit proven. Subscribe to our FREE newsletter Value $147.00 http://www.InstantRealEstateWealth.com

Short Sales The Equity Creator

Tue, 28 Aug 2007 00:00:00 -0400

Short sales have been in existence for as long as there have been mortgages. Back then there wasn't a term called a short sale; we just called the lender and asked them if they would take a discount. Today is has become much more supplicated and time consuming to get it done. The short sale is one of the easiest ways to create instant equity where none existed prior to that point. This is truly a win, win situation for all parties involved if done properly. The first thing you need to understand is that the lender is not agreeing to a short sale for the investor, it is being done for the seller. The seller also needs to justify to the bank why there is a need for the short sale. Banks will normally ask for a hardship letter from the seller as well as two or three months bank statements, a mini profit and loss statement, pay stubs, the last two years tax returns, a sales contract for the property and a HUD-1 or net sheet as it is sometimes called.. **End Summary** Topics: Short sales]]> short sale courses]]> foreclosures]]> preforeclosures]]> make money in real estate]]>]]> About the Author: ]]> Richard Reichmann is internationally known as a millionaire maker. He's a leading consultant in real estate and internet marketing strategies that are profit proven. Subscribe to our FREE newsletter Value $147.00 http://www.InstantRealEstateWealth.com

The Importance of Agreeing On The Closing Date

Wed, 15 Aug 2007 00:00:00 -0400

When you make an offer to purchase a property, you will sign a purchase or purchase and sales agreement with the seller. This document will be the binding contract and agreement between you and the Seller and the provisions in that document will spell out certain events which must take place before your escrow can close. Within the purchase agreement will be a provision for the scheduled date of closing. A date is normally filled in when the offer to purchase is made by the buyer. Once your offer is presented to the seller, the seller may choose to change this date before accepting your offer. Both you and the seller will come up with a closing date which seems reasonable. The closing date should allow you enough time to apply for and obtain a mortgage, if you will be getting a loan to help finance your purchase, and the seller will choose a closing date which allows ample time to move out and find a new home or property. **End Summary** Topics: Real Estate]]> Colsings]]> Short Sales]]> Preforeclosures. Make money in real estate.]]>]]> About the Author: ]]> Richard Reichmann is internationally known as a millionaire maker. He's a leading consultant in real estate and internet marketing strategies that are profit proven. Subscribe to our FREE newsletter Value $147.00 http://www.InstantRealEstateWealth.com

Overcoming the Seller's Objections When Buying Subject-To

Sat, 04 Aug 2007 00:00:00 -0400

It is my opinion that building rapport and getting your seller to feel comfortable with, dare I say "like you, is the biggest step toward overcoming any fears or questions that they may have. Whether sophisticated or not, some sellers ARE going to have questions and you had better be able to answer them in a way that satisfies them. While that may sound scary, remember, no matter how little you know the seller will probably know less. The biggest edge you can give yourself, after having the seller like you, is being confident about what you are doing and how you do it. I know this will be hard at first but if you make yourself as knowledgeable as you can about sub2 and know the mechanics, you should do fine. You must show confidence in yourself and in your business. Remember, these people are trusting you to help them out of a jam on probably what was the biggest investment of their lives. While the sellers who are months behind or already have credit that is shot might be easy to convince, the ones who have different motivation might not be so easy. **End Summary** Topics: buying subject to]]> preforeclosures]]> foreclosures]]> make money in real estate]]> short sale courses]]>]]> About the Author: ]]> Richard Reichmann is internationally known as a millionaire maker. He's a leading consultant in real estate and internet marketing strategies that are profit proven. Subscribe to our FREE newsletter Value $147.00 http://www.InstantRealEstateWealth.com

How to Save Up to 90% On Title Insurance

Thu, 02 Aug 2007 00:00:00 -0400

If you have ever bought or sold real estate, you have probably paid for title insurance. What exactly is title insurance? Why do we need it? How can I save money on title insurance? These are common questions asked by real estate investors. Whenever title passes, the seller usually gives a deed containing certain guarantees or "warranties" (hence the name "Warranty Deed"). The seller warrants that title is good, that is, no one will come challenge the integrity of the title. For example, if a deed that was passed before him was forged, all subsequent transfers are void. Other problems may be more subtle, such as a deed with an incorrect legal description or misspelled name. Any irregularities in the "chain of title" will place a "cloud" on the integrity of the title. When you are ready to sell a property, a title search is performed by a title company or attorney. The title searcher follows the chain of title back about 50 years, tracing the ownership through deeds recorded in pubic records. The searcher also checks to make certain that previously recorded mortgages and other liens have been released. **End Summary** Topics: Title Insurance]]> preforeclosures]]> foreclosures]]> make money in real estate]]> short sale courses]]>]]> About the Author: ]]> Richard Reichmann is internationally known as a millionaire maker. He's a leading consultant in real estate and internet marketing strategies that are profit proven. Subscribe to our FREE newsletter Value $147.00 http://www.InstantRealEstateWealth.com

Secret Loopholes Of The Due On Sale Clause

Sat, 28 Jul 2007 00:00:00 -0400

The Garn St. Germain Act carves several exceptions in which the lender may not enforce the due-on-sale: With respect to a real property loan secured by a lien on residential real property containing less than five dwelling units, including a lien on the stock allocated to a dwelling unit in a cooperative housing corporation, or on a residential manufactured home, a lender may not exercise its option pursuant to a due-on-sale clause upon - (1) the creation of a lien or other encumbrance subordinate to the lender's security instrument which does not relate to a transfer of rights of occupancy in the property; (2) the creation of a purchase money security interest for household appliances; (3) a transfer by devise, descent, or operation of law on the death of a joint tenant or tenant by the entirety; 4) the granting of a leasehold interest of three years or less not containing an option to purchase; 5) a transfer to a relative resulting from the death of a borrower; 6) a transfer where the spouse or children of the borrower become an owner of the property; **End Summary** Topics: due on sale clause]]> foreclosures]]> preforeclosures]]> make money in real estate]]> short sale courses]]>]]> About the Author: ]]> Richard Reichmann is internationally known as a millionaire maker. He's a leading consultant in real estate and internet marketing strategies that are profit proven. Subscribe to our FREE newsletter Value $147.00 http://www.InstantRealEstateWealth.com

There is No Due on Sale Jail

Wed, 25 Jul 2007 00:00:00 -0400

The "due-on-sale" clause is probably the most talked about, feared and misunderstood topic in real estate. This article will dispel any misunderstandings you may have about the due-on-sale and suggest a simple, yet effective strategy to get around it. Before we discuss how to get around the due-on-sale, we must understand what it is and where it came from. The due-on-sale (a.k.a "acceleration clause") is a provision in a mortgage document which gives the lender the right to demand payment of the remaining balance of the loan when the property is sold. It is a contractual right, not a law. This means that if title to the property is transferred, the bank may (or may not), at its option, decide to "call the loan due." An "assumable" loan is one which is secured by a mortgage which contains no due-on-sale provision. FHA-insured mortgages originated before 12/89 and VA-guaranteed loans originated before 2/88 contain no due-on-sale provisions. **End Summary** Topics: due on sale clause]]> preforeclosures]]> foreclosures]]> make money in real estate]]> short sale courses]]>]]> About the Author: ]]> Richard Reichmann is internationally known as a millionaire maker. He's a leading consultant in real estate and internet marketing strategies that are profit proven. Subscribe to our FREE newsletter Value $147.00 http://www.InstantRealEstateWealth.com

Flipping Properties Works In Any Market

Thu, 19 Jul 2007 00:00:00 -0400

For years, hot-shot speculators made huge profits flipping condos in Florida and Vegas before they were even constructed. All the while, the naysayers in the ivory towers of Wall Street and academia warned of a "housing bubble" that was sure to burst as all bubbles do. When Fed chairman Alan Greenspan said that national real estate market was "frothy," the writing was really on the wall, and anyone with half a brain could see that we were in for a cooling of the housing market, at best. And yet still, speculators continued to profit, and the real estate bull market marched on. But the bulls aren't marching now. Greenspan handed his matador's cape to the new Fed chairman, Ben Bernanke, who continued the policy of interest rate hikes designed to deflate housing. No longer accelerating at a break-neck pace, home prices have flattened like a pancake in many markets, and new the condo speculators who got in late are in for a world of hurt. Clearly, the housing boom is over in many parts of the Country. But contrary to the media hype, this is great news for flippers! **End Summary** Topics: Flipping Properties]]> Make Money In Real Estate]]> short sale courses]]> preforeclosures]]>]]> About the Author: ]]> Richard Reichmann is internationally known as a millionaire maker. He's a leading consultant in real estate and internet marketing strategies that are profit proven. Subscribe to our FREE newsletter Value $147.00 http://www.InstantRealEstateWealth.com

Always Ask for More Than You Expect To Get

Tue, 17 Jul 2007 00:00:00 -0400

One of the cardinal rules of Power Negotiating is that you should ask the other side for more than you expect to get. Henry Kissinger went so far as to say, "Effectiveness at the conference table depends upon overstating one's demands." Think of some reasons why you should do this: Why should you ask the store for a bigger discount than you think you have a chance of getting? Why should you ask your boss for an executive suite although you think you'll be lucky to get a private office? If you're applying for a job, why should you ask for more money and benefits than you think they'll give you? If you're dissatisfied with a meal in a restaurant, why should you ask the captain to cancel the entire bill, even though you think they will take off only the charge for the offending item? If you're a salesperson: Why, if you are convinced that the buyer wants to spread the business around, should you still ask for it all? Why should you ask for full list price even if you know it's higher than the buyer is paying now? **End Summary** Topics: negotiating]]> negotiation]]> preforeclosures]]> foreclosures]]> make money in real estate]]> short sales]]>]]> About the Author: ]]> Richard Reichmann is internationally known as a millionaire maker. He's a leading consultant in real estate and internet marketing strategies that are profit proven. Subscribe to our FREE newsletter Value $147.00 http://www.InstantRealEstateWealth.com

The Real Estate Millionaire Maker

Wed, 11 Jul 2007 00:00:00 -0400

Accepting your role as a marketer is the thing that will move you out of the rut of occasional mediocre deals and up into a level of sustained success that would not otherwise be possible for you. And this is true of anyone in any other business or industry. The person or company who is most on top of their marketing, makes all the money, and dominates their market. A marketing machine! Very average pizza. But aggressive marketers, and they virtually own their market. Look at Bill Gates (yes, I know, everyone cites BG). If you saw Accidental Empires though, a PBS documentary by Robert Cringley, you'd know that Gates was just one of hundreds of fanatical "techies" who were trying to make this computer thing work somehow. With his astute positioning and relentless marketing he rode Microsoft up over IBM to the $80B company it is today. Of course, this doesn't mean you just market better and let your buying, negotiating and selling skills go to pot. You've got to be the very best property buyer you can be and run your office well too. After all, your sellers and buyers deserve the very best treatment from you. **End Summary** Topics: foreclosures]]> preforeclosures]]> make money in real estate]]> make money real estate]]> short sale courses]]>]]> About the Author: ]]> Richard Reichmann is internationally known as a millionaire maker. He's a leading consultant in real estate and internet marketing strategies that are profit proven. Subscribe to our FREE newsletter Value $147.00 http://www.InstantRealEstateWealth.com

How To Find All The Motivated Sellers You'll Ever Need

Tue, 10 Jul 2007 00:00:00 -0400

You get that first magical list that you anticipate as being the answer to finding truly motivated sellers. It doesn't even dawn on you the hours you spend typing up the letters because you're so focused on all the great deals to be made. It seems like the letters are just burning a hole in your hand by the time you get the stamps on them and to the post office. Next week rolls around and your hopes were just about dashed by the time got that first call from a seller who received one of your letters. Now we're talking! It becomes obvious shortly into the conversation they're just fishing around and trying to find just how much you would pay for their property and no they are not in any hurry to sell. What happened? Why didn't you get more calls from truly motivated sellers? Everything you heard about direct mail in real estate was that this is the way to go in having a system set up for motivated sellers to find you. **End Summary** Topics: real estate investing]]> preforeclosures]]> make money in real estate]]> short sale courses]]>]]> About the Author: ]]> Richard Reichmann is internationally known as a millionaire maker. He's a leading consultant in real estate and internet marketing strategies that are profit proven. Subscribe to our FREE newsletter Value $147.00 http://www.InstantRealEstateWealth.com

Real Estate Investing is Just Like Weight Loss

Thu, 05 Jul 2007 00:00:00 -0400

It amazes me how many people get started in real estate investing, only to fail when the going gets tough. As soon as someone discovers they can't get rich in a week or two, they are on to the next hidden guru secret. It's the same as weight loss, everyone talks about it, many try it, but few succeed. There are thousands of get rich quick and get slim quick gimmicks. No wonder both the real estate investing information and weight loss products industries make billions! Weight loss isn't easy, ask anyone who has tried it. However, the concept of weight loss is very basic, burn more calories than you ingest and your body will react accordingly. Unless you have a medical disorder, this formula works for just about anyone. Simple as it may be, the formula is hard, meaning it takes a lot of discipline and hard work. So, the weight loss industry has offered us thousands of ways to make it easier. Many of these solutions do work, but they only work if you put forth effort. **End Summary** Topics: real estate investing]]> preforeclosures]]> foreclosures]]> short sale courses]]> make money in real estate]]>]]> About the Author: ]]> Richard Reichmann is internationally known as a millionaire maker. He's a leading consultant in real estate and internet marketing strategies that are profit proven. Subscribe to our FREE newsletter Value $147.00 http://www.InstantRealEstateWealth.com

How to Spruce Up Property So It Sells At Lightening Speed

Wed, 04 Jul 2007 00:00:00 -0400

It's easy to fix up your properties if you have unlimited cash. However, you need to keep your repairs to minimum to stay profitable. You also need to keep your properties in good shape to attract tenants or buyers. There are the basic improvements, such as carpet and paint, but these can still costs thousands of dollars. The following are some inexpensive ways to improve your properties with very little cash. #1) New Electrical Switch Plates This is such a minor, yet overlooked improvement. Most rental owners and rehabbers paint a unit and leave the old, ugly switch plates. Even worse, some even paint over them. New switch plates cost about 50 cents each. You can replace the entire house with new switch plates for about $20. For the foyer, living room and other obvious areas, spring for nice brass plates. They run about $5 each - not much for added class. #2) New or Improved Doors Another overlooked, yet cheap replacement item is doors. If you have ugly brown doors, replace them with nice white doors (you can paint them, but unless you have a spray gun it will take you three coats by hand). **End Summary** Topics: Real Estate]]> make money rea; estate]]> make money in real estate]]> short sale courses]]> ]]>]]> About the Author: ]]> Richard Reichmann is internationally known as a millionaire maker. He's a leading consultant in real estate and internet marketing strategies that are profit proven. Subscribe to our FREE newsletter Value $147.00 http://www.InstantRealEstateWealth.com

Get That Property Out of Your Name Before Someone Else Does

Sat, 30 Jun 2007 00:00:00 -0400

There are over 80 million lawsuits filed every year in the United States. Landlords and real estate investors are especially susceptible to liability. Are you a target? Are your assets easy to locate? Is your real estate titled in your name? You wouldn't walk around with a financial statement taped to your forehead would you? So why would you have your most valuable assets exposed to public scrutiny? Anyone can go down to the county courthouse or recorder's office and look up the owner of any property. Real estate records are now computerized, so all of your real estate holdings can be located at the touch of a button! Any mortgages on your property will be recorded as well. Most recorded mortgages will state the amount of the original principal balance and the date the mortgage payments began. All one has to do is figure out the balance of your mortgage and subtract that amount from the market value of your house. Bingo! Now they know how much equity you have and hence whether suing you is worthwhile. If a tenant or creditor is contemplating suing you, he will make an appointment with a lawyer. **End Summary** Topics: real estate investing]]> preforeclosures]]> foreclosures]]> short sale courses]]> make money in real estate]]>]]> About the Author: ]]> Richard Reichmann is internationally known as a millionaire maker. He's a leading consultant in real estate and internet marketing strategies that are profit proven. Subscribe to our FREE newsletter Value $147.00 http://www.InstantRealEstateWealth.com

How To Invest In Real Estate In A Changing Market

Wed, 27 Jun 2007 00:00:00 -0400

I get a lot of questions from people asking, Will real estate investing work in my market? The truth is, real estate investing works in every market, but you need to learn your market and adapt the techniques that it requires. There are many ways to describe real estate markets, including hot versus flat or rising versus falling or buyer's versus seller's. All real estate markets are subject to fluctuations, but these fluctuations typically do not greatly influence the ability for the informed investor to make a profit. In fact, some strategies, such as flipping, can be the least risky way for a beginning investor to make a profit in an uncertain market simply because of the relatively short amount of time the flipper will own the property. Unlike the stock and commodities markets, real estate markets don't rise and fall rapidly. For long-term investing, additional market factors are important to your buying decision. Investors who plan for short-term real estate market appreciation are speculating, which is outside of the basic model of low-risk investing. Let's be clear: there is no such thing as an ideal real estate market for investing. **End Summary** Topics: Real estate investing]]> short sale courses]]> foreclosures]]> preforeclosures]]> ]]>]]> About the Author: ]]> Richard Reichmann is internationally known as a millionaire maker. He's a leading consultant in real estate and internet marketing strategies that are profit proven. Subscribe to our FREE newsletter Value $147.00 http://www.InstantRealEstateWealth.com

Explaining Foreclosure Options To A Homeowner

Tue, 26 Jun 2007 00:00:00 -0400

Understanding the different options a seller may be considering is important when negotiating with sellers. Below are the most common options that sellers may address with you if the sellers are either in default or anticipating being in default. 1. Reinstatement of Loan (Cure): This option is paying the lender everything that is owed in one lump sum to include missed payments, any late fees associated with these payments, foreclosure fees, legal fees and the principal owed during the delinquency. A cure may involve the seller curing or deeding it to the investor "subject to" the exisiting loans, who will cure. There is a risk to the homeowner that the lender may accelerate the loan because of the due-on-sale, and the homeowner no longer owns the property and has no recourse of the investor doesn't pay the loans. 2. Repayment Plan: This is a written agreement between the lender and the seller. These plans require higher payments than the regular monthly mortgage amount for a period of time until the loan is brought up-to-date. 3. Loan Modification: A loan modification involves changing one or more terms of a mortgage. **End Summary** Topics: preforeclosure]]> foreclosure]]> short sale course]]> make money in real estate]]> real estate articles]]>]]> About the Author: ]]> Richard Reichmann is internationally known as a millionaire maker. He's a leading consultant in real estate and internet marketing strategies that are profit proven. Subscribe to our FREE newsletter Value $147.00 http://www.InstantRealEstateWealth.com

Secrets Of Buying At The Foreclosure Auctions

Wed, 20 Jun 2007 00:00:00 -0400

Perhaps the most well known method of obtaining foreclosure properties is buying them at the auction. The foreclosure auction is a live bidding process, just as you may have imagined. The auction is typically conducted at a public place, such as a courthouse. In some states, the county Sheriff or his deputy will conduct the sale. In other states, a referee appointed by the court will conduct the sale. Although the process is slightly different from state to state, the basic idea is the same the property goes to the high bidder. The first bid will usually be made by a representative of the foreclosing lender. The lender can bid up the amount that is owed to him, without actually tendering money. If nobody else bids, the lender gets the property. In a majority of cases, nobody will show up but the auctioneer and the lender's representative. Thus, in most cases, the lender gets the property; the less equity in the property, the less people show up at the auction. Buying at the auction is not for everyone, especially beginners with limited funds. You need cash, and lots of it, to buy properties at auction. **End Summary** Topics: foreclosures]]> preforeclosures]]> short sale courses]]> make money in real estate]]> buying foreclosures]]>]]> About the Author: ]]> Richard Reichmann is internationally known as a millionaire maker. He's a leading consultant in real estate and internet marketing strategies that are profit proven. Subscribe to our FREE newsletter Value $147.00 http://www.InstantRealEstateWealth.com

The Truth About No Money Down Real Estate Investing

Mon, 18 Jun 2007 00:00:00 -0400

Interestingly enough, I actually have new investors frequently come to me who are fortunate enough to have a large nest egg which they can use to get started in the business. Many people have approached me and said, I have $100,000 in the bank. How should I invest it. I always advise them to put their money aside and learn how to do deals without money. Money can kill your creativity, and creativity is essential in this business in my opinion. Even $100,000 doesn't go very far when buying homes, and if you always rely upon the cash that you have, you will often find yourself without any cash and unable to do more deals until you sell something. So even if you have access to some of your own money, my advice is to first cultivate your ability to do deals without use of your own money. Not only will this help keep you creative, but it allows the cash you do have to act as a safety net, making you even stronger. Never underestimate the value of a BBC (Big Bag of Cash). **End Summary** Topics: no money down real estate]]> preforeclosures]]> foreclosures]]> make money in real estate]]> short sales]]>]]> About the Author: ]]> Richard Reichmann is internationally known as a millionaire maker. He's a leading consultant in real estate and internet marketing strategies that are profit proven. Subscribe to our FREE newsletter Value $147.00 http://www.InstantRealEstateWealth.com

Trusts Are The Key To Protecting And Keeping Your Assets

Fri, 15 Jun 2007 00:00:00 -0400

Trusts have been used for hundreds of years for tax savings and estate planning, but few people realize the enormous potential for using trusts for privacy. In this information age where records of your assets can be accessed via computer, fax and even telephone, you have to take active steps to protect your privacy. A trust is a private contractual arrangement between several parties for holding, managing and investing assets. The parties to the trust are the grantor (the person creating the trust, also known as the "settlor"or "trustor"), the trustee (the person or entity holding title to the assets) and the beneficiaries (for whose benefit the trust is established). A trust created for one's benefit is called a "self-settled" trust, i.e., one in which the creator and beneficiary are the same person. A trust created during the life of the grantor is called an "intervivos" or "living" trust. An intervivos trust can be either revocable (taken back or modified by the grantor) or irrevocable (once created cannot be revoked). **End Summary** Topics: land trusts]]> personal property trusts]]> preforeclosures]]> Illinois land trust]]> short sale courses]]>]]> About the Author: ]]> Richard Reichmann is internationally known as a millionaire maker. He's a leading consultant in real estate and internet marketing strategies that are profit proven. Subscribe to our FREE newsletter Value $147.00 http://www.InstantRealEstateWealth.com

What Every Landlord Must Know About Discrimination

Tue, 12 Jun 2007 00:00:00 -0400

The Fair Housing Act of 1968, as amended, prohibits discrimination on the basis of race, color, religion, nationality, familial status, age, and gender. Many state and local laws also forbid discrimination on the basis of sexuality or source of income, and the Americans with Disabilities Act makes it illegal to discriminate against the disabled. If you harbor any such prejudices and would allow them to come into play when renting a housing unit, then you're probably not cut out to be a landlord. However, many sincere real estate investors make honest mistakes that result in discrimination lawsuits. The best way to avoid them is to be informed. The Fair Housing Act (FHA) may appear to be common sense, and most people would never think of discriminating against people of different races or religions, or on the basis of gender. However, it is important to note that the FHA extends beyond the screening process, and into advertising as well. This is where many landlords and property managers make fatal mistakes. After all, there are people who scour the classifieds looking for inappropriately worded ads so that they can pounce on them and threaten a lawsuit. **End Summary** Topics: discrimination]]> Real estate investors]]> preforeclosures]]> make money in real estate]]> short sale course]]>]]> About the Author: ]]> Richard Reichmann is internationally known as a millionaire maker. He's a leading consultant in real estate and internet marketing strategies that are profit proven. Subscribe to our FREE newsletter Value $147.00 http://www.InstantRealEstateWealth.com

Flipping Your Way To Real Estate Wealth

Thu, 07 Jun 2007 00:00:00 -0400

Flip Strategy #1: Buy, Fix and Flip Let's start with the most common form the good, old fix 'n flip. This process involves buying a property that needs work, fixing it up, then selling on the retail market, that is, to a person who will live in the property. This method is tried and true, and works very well. You can easily make $15 - $50k on one deal, depending on your market and how good you are at finding bargains. The danger in fix and flips is either paying too much or underestimating repairs. Be very conservative in your fix-up costs and length of time it may take to resell. Also, make sure you include in your analysis the cost of paying a real estate agent to sell the property. Flip Strategy #2: Buy, Refinance & Lease/Option Rather than sell the fixed up property for all cash, sell for terms. Once you have completed the rehab, refinance the property at its new appraised value. If you did the math correctly, you should have little or no money in the deal. Sell the property on a lease with option to buy. **End Summary** Topics: Flipping properties]]> foreclosures]]> preforeclosures]]> make money in real estate]]> short sale courses]]>]]> About the Author: ]]> Richard Reichmann is internationally known as a millionaire maker. He's a leading consultant in real estate and internet marketing strategies that are profit proven. Subscribe to our FREE newsletter Value $147.00 http://www.InstantRealEstateWealth.com

What Must Be Included In A Real Estate Contract

Mon, 04 Jun 2007 00:00:00 -0400

The real estate contract is the most often used, yet little understood tool in the real estate business. Whether you are a rank beginner or seasoned expert, there is no excuse for not knowing and understanding the real estate contract. Real estate contracts are based on common law contract principles, so it is important that you understand the nuts and bolts of contract law. Offer, Counteroffer and Acceptance. In most states there are standardized contracts used by real estate agents and attorneys. The contract is generally drafted in the form of an offer. The offer is usually signed by the buyer (the offeror). The contract is not binding until the seller accepts, creating a meeting of the minds. An acceptance is made if the offeree (the seller, in this case) agrees to the exact terms of the offer. If the seller replies, I'll accept your offer if you agree to close fifteen days sooner, there is no binding contract, but rather a counteroffer. The basic building block of a contract is that there is mutual agreement. If the offer is not accepted in the time frame and manner set forth by the buyer (offeror), then there is no contract. **End Summary** Topics: foreclosures]]> preforeclosures]]> make money in real estate]]> short sale courses]]>]]> About the Author: ]]> Richard Reichmann is internationally known as a millionaire maker. He's a leading consultant in real estate and internet marketing strategies that are profit proven. Subscribe to our FREE newsletter Value $147.00 http://www.InstantRealEstateWealth.com