I remember the time when I was first starting out, and I didn’t know how to talk to a seller without sounding like a complete newbie. It was always my biggest fear that they would realize that I had no clue what I was doing. In my mind, I may as well have had a sign around my neck saying, “I haven’t done a single deal”.
In today’s video I want to talk about absentee owners.
I love working with absentee owners. In fact it is one of my favorite niches because over time many of these folks will become very motivated to sell their property at a deep discount. It will just get to be too much trouble to manage a property so far away from where they live.
In this video I will talk about:
The difference between in state and out of state absentee owners, and which ones I like to work with
How folks sometimes become absentee owners (by accident)
What the “PITA” factor is
And how long you should send direct mail to these folks (there is a specific length of time)
I hope that if you aren’t already working with absentee owners, you will see the many advantages of working in this niche. This is another niche that I like to say has the “low hanging fruit”.
The strategy known as Buy and Hold Real Estate Investing has been considered the path to long term wealth for decades. It is what I like to call the “Get rich slowly real estate investing strategy”. It provides you with monthly passive income, great tax benefits and if done properly it will allow you to accumulate great wealth in the process.
The problem with this strategy for a lot of folks is that they are impatient. If you are looking for large chunks of cash today, this isn't the strategy to choose for your real estate investing business. But if you are willing to use this buy and hold real estate investing strategy in your business and you buy the right type of property in good neighborhoods, then you can expect to have an enviable stream of passive income down the line. If you want to retire wealthy, then this is the strategy for you.
Here's the Video…
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Today we have our 4th episode of “Makeover Monday;Baby Steps to Success”. The topic is rehabbing or “fix and flip”.
Rehabbing or “fix and flip” is one of my favorite real estate investing strategies. This involves buying an ugly property that typically will need a lot of repairs, rehabbing it and then selling it to an end buyer. This buyer will almost always be a homeowner or a “retail buyer” as real estate investors like to say. For those investors that like to take something ugly, give it new life and make it pretty again this is the strategy of choice.
I have the third episode of “Makeover Monday”…“Baby Steps to Success for Creating a Business and a Lifestyle You Love for you today.
Today I want to talk about wholesaling and the 5 components for building a wholesaling business.
Last time we talked about choosing a real estate investing strategy. We also talked a little bit about three of the main strategies in real estate investing which are wholesaling, rehabbing (or fix and flip), and buy and hold and how each of those would lend itself to a different lifestyle. Today I wanted to talk about wholesaling a little bit more in depth. Read the rest of this entry →
I have something new for you coming up on my blog called “Makeover Monday; Baby Steps to Success for Creating the Business and the Lifestyle You Love” where I will be giving you simple tips for making over your business in the next 12 months. Some of these will be videos and some will be written tips.