Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.

Monthly Archives: May 2017

Making Foreclosures Work | Part 2

foreclosureIt goes without saying that real estate comps are an integral part of real estate investing.  Today, I wanted to continue our talk about foreclosures and how to grow your business by working in the foreclosure arena.

Laws concerning foreclosure investing are different from state to state, so you want to be sure you learn all you can about your state’s specific laws in addition to general information for these kinds of investments.  Study everything you can get your hands on, from books, to internet articles and web sites.  In other words, do your homework if you want to be successful.

It is important that you don’t have unrealistic expectations.  Almost all properties will need some kind of work before they can be put back on the market.  While, it’s true you may be able to purchase properties for significantly less than the market value, you need be sure of that market value.  That being said you need to be sure you can purchase the property, take care of any necessary repairs, pay for any inspections or appraisals that might be required by the laws of your county, and then be able to sell the property at a profit.

These pieces of information will be helpful when you come across foreclosure deals.  Learning what works is important, but application is the key to success.  InvestorCompsOnline is here to assist you with all of your real estate investing needs.

Make Foreclosures Work | Part 1

foreclosure-1On a quest to know where to start and how to begin in foreclosure investing, take a look at foreclosure properties.  A foreclosure is when the bank or the government seizes a property after non-payment.  Many times real estate comps reflect foreclosure properties in the search results. Here is some information to shine more light on foreclosures and what the process entails.

Neither banks nor the government really have much use for the property so they sell it to recoup their losses.  Tax foreclosures often occur at the county level and take place at a public auction.  These auctions are usually listed in the local newspaper. County offices have information concerning the where and when of such sales, and listings of the property to be sold.

You need to get hold of the list and do some research before you decide what, if any properties are worth bidding on. Tax foreclosures take precedence over any other kind of debt.  Mortgage foreclosures are pretty much the same, but in some circumstances you may be able to deal with a bank privately and purchase the property before it goes to auction. However, you have to know how to find those properties and those banks, so research is key.

Check back tomorrow and we will discuss more key things to keep in mind when investing.  InvestorCompsOnline is always here to assist with all of your real estate educational and investing needs.

Success In Real Estate | Part 5

b7471d588b8bb84bb1743822816cfe84Today is the last post about building your real estate investment team.  Real estate comps help you when you are negotiating the deal.  These people on your team help you once you are ready to rent/sell the property.  Today, let’s talk about eviction lawyers and you being able to appraise the property.

Eviction Attorney – You need to know the time frame for an eviction as this varies widely by state.  If you have rental properties, sooner or later you will have to evict someone. It would be better to already have an attorney on your team to do this than to have to start looking for someone after your renter is behind on rent. Also, they can look over your lease to make sure it complies with state laws for landlords and tenants.

Appraiser (You) – You need to know before you buy a property what it is going to appraise for when the rehab is completed. Running real estate comps will give you an idea of what the property should sell for based on other sales in the area. Remember, the goal is to make your profit when you buy. If when you go to refinance and you thought the property was worth $90,000, but the appraisal comes in at $80,000, you probably will have to go to closing with money.  It is better to know the value on the front end, not after you have bought it.

And there you have it ladies and gents, a basic rundown of the who/what/and why of your real estate investment team.  I hope this information has been helpful and you are able to put it to use in your business.  The InvestorCompsOnline team is always here to serve.

Success In Real Estate | Part 4

Top-4-Real-Estate-Success-Principles-that-Every-Agent-Must-FollowIn our continued conversation regarding the essential team that you need for your real estate business success; today I want to focus in on payment and property management companies. While we know the importance of real estate comps, many down play the stability that a good group of people can provide. Let’s look at the project timeline and the property management company aspect of the business.

Payment/Project Timeline – Once you have purchased the property, go back and get a firm bid on completing the repairs including the time frame to get the job done. Staying on your timeline is paramount. A vacant house means no rental income. You and your contractor should have in writing exactly what will be done and the total price. Of course, there is always the unexpected, and you should factor in for those things. Staggering payments is a good way to ensure that all of the repairs will be completed.  If there are problems or things weren’t done that were on the list, the contractor has to take care of it before receiving final payment.

Property Management Company – This one is specifically up to the property owner.  If you have no issue maintaining the property, collecting the rent, then a management company would not be a priority. If that is something you could live without, it is well worth the money to let someone else handle everything that goes into having tenants. Most property management companies charge a monthly fee to manage the property. They collect the rent from the tenant, handle any maintenance issues, deduct their fee, and send you a check.

Hopefully, these two facets of your real estate investment team are in place.  If not the above two tips should be beneficial when you are searching for the right person to fit with your team. The next post is my last installment on the ideal team for your business.  Join me for the conclusion of this series.

Success In Real Estate | Part 3

Let’s keep talking about people to have on your real estate investment team to assist with the growth.  Today, we focus on your insurance agent and the ever important contractor.

Insurance – You will need to work with a good insurance agent.  This is someone that works with you for existing insurance.  Be certain that the company handles rental insurance if you plan to work with rental properties.  Account for vacant property coverage as well, this is a realistic part of being a landlord.  A minimum of $300,000 liability should suffice for each property.  Another great option is an umbrella policy that would cover all of your properties. This policy pays in addition to the insurance on the individual property and it’s a great safety net for that “what if” scenario.

Contractor/contact work – When shopping for a contractor, it is important to find someone that is licensed and insured. If you are working with a realtor or wholesaler that specializes in foreclosures they will be able to recommend several. Most reputable contractors have lines of credit, so they don’t require as much money upfront to get the job started. Ask to look at a current project or a job they have just completed. This will give you an idea of the quality of work they do. Have several contractors submit bids on the job before you make an offer on the property. Go through the property and make a detailed list of what needs to be done.  You have to know how much the rehab is going to be before you can make a sound offer.

The skill that a contractor brings to the table can be a deal saver for some investors.  Learning to appreciate your team and all of the talents they provide is a very important task.  Join me tomorrow,  as we continue talking about your business team and the people you need to make it work.