Real Estate Investments – Why Some Investors Lose Money On No-down Techniques
B. Online networking opportunities through an active message board. This means you have a place to go and ask a question to the group and get multiple responses in between meeting times.
The sheer choice of property options available is another reason why this is the best time to invest in real estate. From Dallas in Texas to Los Angeles in California, you have plenty of options available to you nowadays.
The best way to achieve objectivity is to collect as much information as possible. Every investor needs a systematic and disciplined approach to the investment process and must act in keeping with a grand plan of events.
Interview to build a real estate investing team – After searching on line and finding out who is buying and selling a lot of property, make a list and interview them. Find out who their support staff is. Does this buyer and seller work specifically with rehab crews? How about management companies? Closing Attorneys or Escrow Agents? You should interview 3 of each of these or more. Be brutally honest. If you can tap the wisdom of a team, the process of owning property outside your area can be easy. Make sure the management companies are willing to work with the real estate invesment contractors, the sellers of your property, and so on. Ask about the reputations of each to the others.
An FBI informant who was one of Castro’s friends put Castro in touch with “collectors” who said they could get him his money back but they would have to get rough with the deadbeat. The fact that they brought it up and Castro never went to them to ask they engage in violence went a long way with the jury.
A second major challenge, dealing with insurance. Insurance is not a simple “get a policy” issue on a subject-to deal. Since you are not the owner of record on the mortgage, if you drop the previous owner’s policy the lender will be notified and will check why the policy has been dropped. If they discover the change of ownership, they may request full payment of the mortgage using their “Due On Sale” power. Definitely not part of our plan in a subject-to deal. You may need to carry two policies, but explore your possibilities.
You’ve found motivated sellers. Now all you have to do is find buyers. But you aren’t just looking for any buyer; you’re looking for cash investors. This is where your fee comes in. You are paid a finder’s fee by the buyer to find the deal.
Flipping houses is work. It takes hard work to find an exceptionally good deal. It takes knowledge of your market. It takes knowledge of rehabbing. It takes knowledge of the house selling process. It requires holding money and it usually takes longer than you thought it would. That 3 month time frame you had in mind will probably be more like 6 months unless you’ve done a lot of fix and flips before.