From time to time I counsel people for a fee. A person who was in trouble contacted me for advice. His is almost a casebook study on what not to do.
Stay Away From Dicey Deals
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Topics: Investor Success
Building Your Success Network
Topics: Investor Success
Last time I constructed a little fable to see how being a lender,rather than an owner, can capture the real estate benefits of USE,INCOME, TAX BENEFITS, APPRECIATION, LEVERAGE, AMORTIZATION, and as a hedge against inflation with minimum risk.
The Power of Networking
Topics: Investor Success
Every month I go to an Internet Marketing Mastermind Meeting.
Well, it’s not really an official meeting where someone is making a
presentation it’s just a hang out session with a lot of food and
adult beverages. But there’s a lot of very valuable networking
taking place.
Present Value Insight
Topics: Investor Success
All financial calculators have buttons you push to discover various financial factors. These buttons are labeled N for the number of payments until a loan is fully paid off; I for the rate of interest being paid in each payment period; and PMT for the amount money paid for interest and principal. FV stands for the future value of the sums being paid. A very important button is labled PV for Present Value. Many creative financial formulas take P.V. into consideration. What is Present Value? Let me see if I can explain it to you:
Adapting to Changing Times
Topics: Investor Success
It’s amazing how swiftly the financial landscape changes for someone in the house business. One would think that opportunities with houses would be fairly stable. In the good old days, changes in population, wages, and taxes were gradual and those in the house business could adapt to them without much fuss. Not so today.
The Best Way to Change Things is to Change Yourself
Topics: Investor Success
A question that I get asked all the time is how long I think it will be before the housing market returns to “normal”. “Normal” in most cases is the housing boom that we just came off of. The people who ask this are usually those who’ve only been buying, fixing, and selling houses for a few years. They don’t yet comprehend that the housing boom wasn’t “normal”; as a national phenomenon, it was the biggest boom in housing in history.
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Why You Can’t Live Without A Personal Assistant
Topics: Investor Success
Having an assistant is one of the best investments you’ll make as a real estate entrepreneur. Like all parts of your business (and yes, buying, leasing, and selling houses is a business), they require an investment of your money and also your time. You’ll need to invest a little money in order to hire, train, and compensate them for their services. And, you’ll need to invest some time to help them get the job done right—more in the beginning and much less as time goes on.
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Creativity
Topics: Investor Success
Someone once said that financial creativity begins where credit stops. Another person phrased this slightly differently when he said that creativity goes into high gear when you’ve given someone a check to seal a deal on a Friday and have until Monday to get enough money into the bank to cover it.
If You Can’t Sell It, Move In
Topics: Buying & Selling, Investor Success
A lot of people have bought houses for resale that they now can’t sell. As a result, they are making payments on their own homes plus the home the bought. It’s only a matter of time before they run out of money and patience, and stop making payments. In California, about all that happens is that they bruise their credit and disappoint their lenders when the home goes into foreclosure.
Sell Your House and Move into Your Spec House
Topics: Buying & Selling, Investor Success
The lesson in this epistle is that, rather than ruining your credit and along with it your future prospects by letting a house go back to the lender, consider a number of alternatives:
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