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Checklist: When You Might be Ready to Invest in Real Estate

By | checklist | No Comments

Are you ready to invest in real estate? Nearly anyone can make money in real estate, but in actuality, very few do.  With nearly no exception, the high failure rate has little to do with your intelligence level.  No matter how smart you are (or are not) you need to be able and willing to work hard.  Being ABLE to work hard is NOT the same things as being WILLING to work hard, but you need both. According to US News, you also need to make sure you meet this checklist: Do you have financing in place? (Your own or via someone else) Are you ready and willing to learn… a lot? Have you researched your target market? Can you handle vacancies? (if you’ll be a landlord) Can you handle repairs to property you own? (if you’re buying and holding) Can you handle the rehabbing process? (if you buy a non-turnkey property) The adage of “invest in real estate because they’re not making it anymore” has enticed more than a few people to buy property. There is money to be made in this alternative asset – and for the unwary, money to be lost. That’s because real estate isn’t just…

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A Few Ways to Make Detroit Great Again

By | detroit, michigan | No Comments

Curious about ways to improve Detroit? Much has been made of Donald Trump’s slogan, “Make America Great Again.”  (or otherwise known as “MAGA”) Whether or not you like the President, it’s tough to argue that his election slogan caught onto the majority of the public.  (It definitely did not “slip through the cracks.”) As of late, Detroit has been getting increasingly better headlines, but if we’re being honest, it still has a long way to go.  It has lots of potential, which is good for investors.  However, it still has plenty of improvement to make, to say the least.  Honestly, that too, is good for investors. An article in the Detroit News made a few suggestions about things that would really build a better future for Detroit… a.k.a. Making Detroit Great Again (MDGA?). Here are a few of the ideas the author shared: 1. Find Ways to Get People to Move (back) into the City 2. Redevelop Vacant Land 3. Improve Existing Neighborhoods 4. Repair/Improve City Infrastructure 5. Use Tax Abatements to Attract New Businesses/Employers To learn more, you can read the entire article at https://www.detroitnews.com/story/opinion/2018/06/28/opinion-rethinking-city-planning-detroit/716114002/

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real estate investin, commercial real estate investing |http://www.megaeveningevent.com

The Most Important Rooms to Invest In?

By | Investment, Rehabbing, Uncategorized | No Comments

For any experienced real estate investor, the question of which rooms in an investment property are most important to focus on is an easy one.  For those that are a bit new to real estate investing, however, the question may not get such a quick response. To provide clarity on which rooms are absolutely vital to invest in when you’re engaging in your your next find, fix & flip, we’ll detail the whats and whys here for your convenience. So, let’s start with the answer… the two most important rooms to focus on in any residential real estate investment are easily the kitchen and the the bathroom (or bathrooms).  Most rooms in the average home are simply comprised of three or four walls of drywall, a door and a window or two.  For bedrooms, throw in a closet & a light fixture and you’re pretty much all done.  But the kitchen and bath consist of a bit more in terms of fixtures & functions and are the two rooms most likely to make or break a sale of the property that you’ve put all of your blood, sweat and tears into. The kitchen.  It is commonly referred to as the…

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real estate investing, new real estate investor, cash for homes, lease options, we buy houses | http://www.megaeveningevent.com

Online Auctions: Strategies for Buying Properties

By | Buying Properties | No Comments

Online property auctions have come to be very popular now.  As with many other facets of life, real estate has gone high tech.  anyone with a mobile phone, PC, laptop or any other connected device can search out and connect with properties in ways that we could never dream of just twenty years ago. There are a number of real estate websites that are making tons of cash marketing properties online, while giving astute investors a high quality tool for buying properties.  With a touch or tap, we can now check out all of the stats on a property, conduct a virtual tour & even check out the comparables in the area.  This is truly a good time for investing in real estate. The question now becomes “How does an upstart real estate investor get into the auction game And win?” And to be clear, we’re not just talking about submitting the highest price and winning out over the competition; we’re talking about strategically and surgically working out a plan to win auctions in a way that is most profitable for you. Here are a few pointers to help you truly Win at an online auction: Have a specific strategy…

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Planning for Success in Real Estate Investing

By | Rehabbing | No Comments

When doing a fix & flip on an investment property, your end results will really be determined by how you approach the renovation job.  Sometimes you may tempted to cut corners because you don’t really see the property as a home, but simply as an investment. This is a flawed way to approach a fix and flip if you really want to maximize your profilt potential. If you go into a reno with the main objective being to cut your cost to the very minimum, you’ll find yourself possibly stuck with a truly undesirable property. Cutting corners on things as simple as a kitchen backsplash, can result in a cheap looking home that sells for nothing near the comps (if it sells at all). When you plan out your budget and start to consider materials to be used in your renovation, ask yourself if you’d be interested in buying a home with those finishes. If your answer is no, then it may very well be the same for others. Now, this is not to say that your rehabs should all be customer to your particular taste; you have to try to keep it neutral, but at the same time consider…

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Plan Ahead for Success in Real Estate Investing

By | Uncategorized | No Comments

If you are a beginner who’s looking to get into the very lucrative area of investing in residential property, this is the post for you. One of the most important things for a new investor who doesn’t happen to be independently wealthy is to sort out all your sources for funding to purchase and rehab your properties. There are tons of different financial options for funding investment property purchases. With a bit of creativity, and knowledge, an investor can use out of the box methods to exercise a financial plan of attack. Your focus early on should be on building a model that fits and works for your situation. Have a proper plan plotted out and you’ll be able to get a solid cycle of wash, rinse & repeat down pat.   To get you on the pathway to setting up your plan, we’ll discuss a few key points for you consideration.   First point.  What types of properties are you planning to invest in?   There are a number of property types that you can consider – ranging from single family stand-alone homes, condo units, multi-family apartments or complexes. A clear focus is mandatory for you to be able to…

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Finding Fixing & Flipping Takes Know-how

By | Rehabbing | No Comments

Rehabbing an investment property is typically thought of in the romantic sense. Buying a badly damaged residential property, spending money and time on it, flipping the home as a newly renovated & attractive house, and then walking away with a good-looking wad of cash is certainly  dream of all prospective investors. But don’t be deceived. There is much to learn regarding property rehabbing prior to you buying your very first property. Being a great realty investor and doing a great job as a rehab pro definitely aren’t the same animal. The following are a few points that any real estate investor must understand about rehabbing investment properties. # 1 The Investment Property is Not Your Residence Remember, property investing is all about the churn. Investment properties are Investments – not your personal place to set up residence and get comfy. Every house, apartment or commercial structure that you acquire to rehab should make you money, so each move you make concerning a rehab should always be about the bottom, line. If you fail to look at it this way, you will not see a sensible return on your financial investment, and your investment activity will probably come to a screeching…

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More considerations for rehabbing…

By | Rehabbing | No Comments

Continuing with our recent post on rehabbing, we’ll now move to some of the outside rehab work that you’ll need to consider before buying that next property to fix & flip.  We’ve broken down the various areas for you convenience. Exterior Siding & Trim Numerous older houses have wooden siding known as weatherboard. This could be repaired using wood sealing material and coated around every a decade, or succeeded. Other designs of siding entail aluminum, asbestos, vinyl, along with stucco. Aluminum siding can easily be destroyed, is more difficult to repair, and it is more difficult to paint than wood siding. Asbestos siding is generally not hazardous and usually non-friable, and may easily be painted or covered up with a different type of siding, but this might be unwanted due to disclosure regulations. Vinyl exterior siding has just about replaced the others because it lasts quite a while and does not should be painted. Siding substitution cost evaluation: Whilst measuring for siding, one could disregard wall openings, and assess the wall space to be fixed or upgraded. You could expect a normal installing of vinyl siding to cost you anywhere between $340-$650/CSF of wall area with respect to the grade…

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Rehabbing: How to estimate repair cost

By | Investment, preconstruction, Rehabbing | No Comments

Here we’ll cover some basic information that will help you to figure out the cost that you will incur in attempting to rehab an older property. If you are into Fix and Flip projects, you’ll need to know exactly what your rehab cost is going to be before you find yourself in over your head. Getting accurate construction and Rehabilitation cost is going to be one of the most important things for a new investor to profit from his work. Do be careful to avoid the pitfalls associated with attempting to calculate your cost per square footage. The wiser option in attempting to calculate cost is going to be based on all of the specifics of the job; breaking down components to come up with a clear and concise tally. Keep in mind that every construction job is going to be different – problems that you’ll face with each job will vary greatly. Also, rehabilitation cost will vary from City to city and from state to state. The number of repairs that you’re likely to encounter during a rehabilitation for any particular property can be very extensive, but we will break down some of the most common cost below. Wow…

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Three Creative Ways of Developing Your Own Buyer’s Lists

By | Investment | No Comments

The key component to flipping properties is obviously having someone ready to buy your property.  As a real estate flipper, you don’t have the time or luxury of rehabbing a property and then simply sticking a “for sale” sign out in front & hope to get lucky.  You’ll want to build a book of qualified and interested buyers who have cash on hand and are ready to deal in short order.  Below are a few tips to enhance or begin the building of your buyer’s list. Utilize online search engines (Google, Yahoo & Bing) – Key in “sell (your town) property fast” and also “We buy houses in (your town).” Bypass the paid ads (you’ll see “Ad” next to them – so it’s easy to tell which ones they are). Most of these are just lead-generation services – so scroll down past them to get to the local sites that are Really doing business in your area. The serious buyers are going to be the ones who have put money into building a localized site – not just a one-size-fits-all type of website. Facebook – Type “real estate investor” into Facebook’s search. You’ll first see a number of results for…

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