Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.

Monthly Archives: July 2016

Real Estate Appraisals

Real-Estate-AppraisalsIf you are planning to apply for a real estate loan to buy the property you want, you should use real estate comps to figure out the market value of the house. It is very important that you are aware of this matter since it can have a huge effect on the result of your application for a loan.

The personal approval is generally completed near the beginning of the process of your loan application. The final commitment, however, is often contingent on an acceptable appraisal as banks want to be certain that the loan they are making is covered if ever borrowers fail to pay. In case the appraiser’s report is lower compared to the selling price, the real estate loan may be disapproved. However, this is not the only thing that can have a negative effect on your application. There are other factors that may possibly cause some problems. In general, lenders thoroughly examine the appraisal before making a decision whether or not the house is fit to act as a guarantee for your real estate loan. Some examples of obstacles you may encounter include, but are not limited to, the following:

  • If the expected time period to sell the house is much longer compared to the area standard, the lender may possibly not like it.
  • If an appraiser becomes aware that the access to a certain property is an exclusive road shared among certain people, the bank may ask to look into a signed road maintenance contract that proves that everybody who utilizes the road shares the obligation of maintaining it.

You should always keep in mind that a real estate appraisal is not a home inspection. Appraisers document the apparent issues they see, but unlike professional home inspectors, they do not perform inspection tasks like checking the chimney, looking at the roof, or testing the appliances. You must not depend on an appraisal to assist you in determining the condition of the house.

The end goal is to walk away quickly and to walk away with your profits in your pockets. Taking the time on the front end to do your due diligence, always pays off in the end.

Real Estate SEO vs Standard SEO

Real Estate SEOReal estate SEO is quite different from standard SEO for many reasons, but for one in particular: where other websites can be optimized to bring in leads one time and then convert them into long-term clients, real estate SEO has to work over and over again, constantly bringing in new leads and converting them into new clients.

The reason for the difference is that an average person doesn’t buy a house one day and then come back a week later to buy another! Sure, there is loyalty in the real estate game-when you get your clients a great deal and make everything run smoothly for them, chances are they will come back to you when they move again (or if you’re in the higher end of the market, buy a second or third home).

Consider these things to overcome:

Local RE SEO is the key – While other SEO tactics can focus in on broader keywords that are related to the industry, this type of SEO has double the work. Not only do you have to rank for those standard keywords your leads will be looking for, but you also have to match for those keywords in the exact locations that you are selling or renting property. This means double the keyword research and double the content. It means going different routes to get your snippets up and running, to get your local map showing on the search engine results pages – it means a lot of different work you have to put in, unless you have a system to do the work for you.

Content is essential to your page –  With SEO for realtors, your market is constantly changing which is great considering you have to constantly bring in new leads and clients, but that translates into more content. Real estate SEO needs more localized blogs, more pointed, helpful content, more keyword rich, sales-driven web copy, and essentially more of everything content-related than standard business websites.

Appealing to an ever changing market – Finally, real estate SEO is nothing without pictures of the properties. Additionally, be sure you also have to have alt-text for your pictures, each with relevant keywords.

These things above will push your business forward on the search engines and bring more buyers.

The Process and The Sale

ForeclosureBy now, we all know that foreclosure is the result of default. When borrowers fail to make their scheduled mortgage payments, for example, or when owners fail to pay their property taxes or some related obligation such as homeowners’ association fees or special assessments, transfer a mortgaged property without lender approval, or undertake renovations that diminish the value of the property, because a contract is shirked, foreclosure can occur.

A legal “notice of default” or a “lawsuit to foreclose” (depending on the state) is typically filed to initiate a foreclosure. This formally announces to the property owners, other parties who may have legal claims against the owners or their property, and the public in general that legal action is moving forward to force a sale of the property. This notice is delivered to the borrower at least one month before a foreclosure sale (typically between 60 to 180 days) and subsequently posted on the Internet or in newspapers as public notice.

In response, the borrower can do several things to prevent or delay the foreclosure.

  1. Workout the loan with the lender and perhaps reinstate or even refinance their mortgage defaults
  2. File a legal defense against the lender and in turn drag the process into court and delay it for a year or longer
  3. File for bankruptcy and automatically stay the foreclosure action. In some situations, a bankruptcy court can even annul a foreclosure sale that has already occurred.

Okay, but with no loan workout, and when legal defenses or delaying tactics are ignored or run out, the foreclosure sale date arrives and the property is auctioned to the highest cash bidder. Thus bringing us to profiting from foreclosures.

Though foreclosure sales typically lose money for lenders, lien holders, and property owners because foreclosed property sells at a price lower than market value, foreclosure auctions are not that easy because they are not a typical market value transaction.

No information about the property is given other than its legal description. You must pay cash. There is no “contingency” allowance for financing. The property is sold “as is” with no guarantees or assurances about the title, condition, environmental hazards, or even that the property will be conveyed free of occupants (you may inherit the owner, tenants, or squatters).

It’s true that savvy bidders can turn big profits at foreclosure sales, but there is a caveat. Never bid blind at a foreclosure sale–you have to do your homework.

Having A Real Estate Marketing Plan

Real Estate Marketing PlanWhile real estate comps are important in investing, additionally, if you are planning to participate in the real estate market it is important to develop a marketing plan.

The first thing you should do is define the nature of your business. Will it focus on residential properties or commercial properties or a combination of the two?  A very important step – write a mission statement. A mission statement tells others your vision for your business.  It will also remind you of your vision should you need encouragement along the way.

Next, identify your team. Make a list of the names and roles in the company of each person on your team. Whether or not you are the only full-time member of your team, be sure to include any contractors and consultants you will be associating with; as well as all sales agents.

The next thing you should do in creating your main marketing theme is – identify your customers. Describe your targeted market; include characteristics like: age, marital status, gender and income level. Identify such things as their homes and commercial properties, as well as rental or purchasing habits. Study aspects of their behavior like where they live, where they shop, where they eat and their social habits.

You might want to use local advertising publications or various newspapers. Also available to you are things like: apartment or home-buying guides, or different Internet sites. You might even want to use direct-mail methods like creating a brochure or catalog. Whatever methods you decide to use, they will give you the necessary tools to have a very successful business.

Virtual Investing

Virtual InvestingVirtual investing or wholesaling in real estate means buying and selling real estate long-distance using computers, online references, fax machines and telephones. Basically spreading your efforts nationwide and expanding from a limited local market.

Short sales and REOs fit into the virtual investing module. It is a matter of organization and a few careful considerations in order to automate this type of business and it can be run from anywhere in the world. The steps to virtual investing are easy and straightforward. They need to be applied to each area of interest in a continued pattern. Research the real estate comps and look for signs of depression, but at the same time have activity with investors and speculators.

  1. Contact local agents and construction contractors. A good place to look is on Craigslist for that specific area and also contact local real estate investors clubs for references. Choose a few to communicate with and set up a meeting.
  2. Personally visit the area and meet with the agents and contractors you have chosen. Meeting someone and having face to face interaction will build trust. Then with this information and your gut feeling, choose who you want to work with. Keep a couple of each at hand, just in case they don’t work out.
  3. Write up some contracts with a 10 day inspection contingency: your agent and contractor will be your eyes, so you need some time to send them to the property, take photos to send to you and give you a report.
  4. Once the property seems a viable property with real estate comps and repair estimate, go ahead and purchase the property. You can use your local title company or a title company in the area of the property: if you like your local title company, deal with them.
  5. If you wholesale/flip the property, work with your agent to list it and use any other means to sell the property long distance as you would do locally.

It is of primary importance that the investor be informed and up to date on all the markets where his/her investments are located, since it is not as obvious as local market the up or down swings of the economy, demand and supply.

Also organization is crucial – delegating to trustworthy collaborators, hiring virtual assistants to follow up on minor tasks (like placing advertising, contacting title company, etc.) can streamline the whole operation and make it more efficient, so the wholesaler can concentrate on more important matters, like locating the right properties, researching the market and dealing with important issues that happen along the way.