How A Real Estate Investing Club Can Help You Make Your Fortune

Being a member of a real estate investment club definitely has its perks.

Since most people do real estate investing individually, the opportunity to interact with peers doesn?t present itself very often. When you are a member of a real estate investment club, you are given the opportunity to network with people who have been involved with real estate investing for years.

Here are some tips for how you can benefit from being a member of a real estate investment club.

Whenever you attend a real estate investment club meeting you should keep in mind that these events are usually not for profit and under funded. You may notice that many of the speakers seem to be trying to sell you something.

Remember that speakers at the real estate investment club meetings aren?t getting paid to present. So the speaker uses the opportunity to sell his or her services. These services might be in the form of a video, mentoring, or a tape set. Learn to look beyond these sales tactics to hear what the presenter is trying to teach you.

Listen to what each speaker has to say, regardless of what he is trying to sell, and try to learn something from the speech.

Make sure to have respect for the time of the veterans that you meet in your real estate investment club. Often investing newcomers think they can simply take a veteran out to lunch in exchange for some tips to use in real estate investing. As a new investor, it is important to understand that few people give away valuable knowledge for free.

This is especially true of veteran real estate investors. Unless you are bringing some deals to the table, you shouldn?t expect for a veteran to just hand over education.

You should also keep in mind that these veterans have spent years of money and time taking courses and going to seminars to learn the real estate business. It is very unlikely that they will pass along this knowledge for steak and potatoes. This doesn?t mean that you can?t ask a veteran for advice, but that you should make it worth his while to teach you the tricks of the trade.

Use the real estate investment club to network and meet other people. When you go to meetings don?t sit alone in the corner then quietly duck out minutes before the meeting has ended. Use these real estate investment club meetings to your advantage.

Let the other club members know who you are and why you are there. If the club doesn?t have name tags, bring flyers. If flyers are against the rules bring business cards.

The most important thing is to make sure the other real estate investment club members know who you are and what you can bring to the table. This let?s them know that you are serious about real estate investing and, in turn, makes them more willing to help you.

If you have some experience or can help other members they will be more likely to help you.

One of the most important things you can do to benefit from the real estate investment club is to become a member. Of course you will need to pay a fee upfront, but the fee will seem like pennies compared to the benefits you will receive from being a member of the real estate investment club. In your real estate investment endeavors you will need many resources along the way, what better way to get the help you need than from your fellow real estate investment club members.

About the Author:

Claim a free e-book that will show you a system used to control $4.1million worth of real estate for just $22 - and you can follow this system to do the same. Comes with resale rights from: Free Real Estate Fortunes Ebook

Short Sale Real Estate Investing - Three Steps To Massive Wealth

You?ve heard about short sale real estate investing, but you aren?t sure what all the hype is about, because you don?t know anyone who has actually done one. Everyone on the internet is talking about them, in the real estate investing forums, and in your investor club meetings, but still the whole thing seems just beyond your grasp. Read on.

There are only three basic steps necessary to be successful with short sale real estate investing, and this article will give you all three of them.

First, you need to find the properties. The best ways to accomplish this is through normal ?We Buy Houses? ads, and driving around looking for distressed, or overgrown, property. These two methods should net you calls from sellers that are near the brink of foreclosure.

Second, you need to get the seller on your side. You do this by listening, empathizing, and communicating openly and honestly with the seller about how you plan to help them. Answer all of their questions completely, and speak with them often to keep the channels open.

Third, you need to find the right person at the lender to speak with. That?s not always easy, and this step will separate the successful from the unsuccessful at short sale real estate investing.

The first person you speak with will almost never be the right one, and you may need to jump through some hoops before you finally reach someone with the authority to do for you what you need done. Persevere and you will find what you?re looking for, and get the deal done.

Short sale real estate investing is a lucrative and powerful wealth-building tool for your arsenal. With foreclosures on the rise across the country, a trend that?s likely to continue, learning and applying short sale real estate investing skill will become even more important as time passes.

There is much more that could be said about how to buy using short sales, but these three steps are the basics. For more try http://www.dealfiles.com/shortsale.html.

Short Sale Real Estate Investing - Three Steps To Massive Wealth

You?ve heard about short sale real estate investing, but you aren?t sure what all the hype is about, because you don?t know anyone who has actually done one. Everyone on the internet is talking about them, in the real estate investing forums, and in your investor club meetings, but still the whole thing seems just beyond your grasp. Read on.

There are only three basic steps necessary to be successful with short sale real estate investing, and this article will give you all three of them.

First, you need to find the properties. The best ways to accomplish this is through normal ?We Buy Houses? ads, and driving around looking for distressed, or overgrown, property. These two methods should net you calls from sellers that are near the brink of foreclosure.

Second, you need to get the seller on your side. You do this by listening, empathizing, and communicating openly and honestly with the seller about how you plan to help them. Answer all of their questions completely, and speak with them often to keep the channels open.

Third, you need to find the right person at the lender to speak with. That?s not always easy, and this step will separate the successful from the unsuccessful at short sale real estate investing.

The first person you speak with will almost never be the right one, and you may need to jump through some hoops before you finally reach someone with the authority to do for you what you need done. Persevere and you will find what you?re looking for, and get the deal done.

Short sale real estate investing is a lucrative and powerful wealth-building tool for your arsenal. With foreclosures on the rise across the country, a trend that?s likely to continue, learning and applying short sale real estate investing skill will become even more important as time passes.

There is much more that could be said about how to buy using short sales, but these three steps are the basics. For more try http://www.dealfiles.com/shortsale.html.

Short Sale Real Estate Investing - Three Steps To Massive Wealth

You?ve heard about short sale real estate investing, but you aren?t sure what all the hype is about, because you don?t know anyone who has actually done one. Everyone on the internet is talking about them, in the real estate investing forums, and in your investor club meetings, but still the whole thing seems just beyond your grasp. Read on.

There are only three basic steps necessary to be successful with short sale real estate investing, and this article will give you all three of them.

First, you need to find the properties. The best ways to accomplish this is through normal ?We Buy Houses? ads, and driving around looking for distressed, or overgrown, property. These two methods should net you calls from sellers that are near the brink of foreclosure.

Second, you need to get the seller on your side. You do this by listening, empathizing, and communicating openly and honestly with the seller about how you plan to help them. Answer all of their questions completely, and speak with them often to keep the channels open.

Third, you need to find the right person at the lender to speak with. That?s not always easy, and this step will separate the successful from the unsuccessful at short sale real estate investing.

The first person you speak with will almost never be the right one, and you may need to jump through some hoops before you finally reach someone with the authority to do for you what you need done. Persevere and you will find what you?re looking for, and get the deal done.

Short sale real estate investing is a lucrative and powerful wealth-building tool for your arsenal. With foreclosures on the rise across the country, a trend that?s likely to continue, learning and applying short sale real estate investing skill will become even more important as time passes.

There is much more that could be said about how to buy using short sales, but these three steps are the basics. For more try http://www.dealfiles.com/shortsale.html.

How A Real Estate Investing Club Can Help You Make Your Fortune

Being a member of a real estate investment club definitely has its perks.

Since most people do real estate investing individually, the opportunity to interact with peers doesn?t present itself very often. When you are a member of a real estate investment club, you are given the opportunity to network with people who have been involved with real estate investing for years.

Here are some tips for how you can benefit from being a member of a real estate investment club.

Whenever you attend a real estate investment club meeting you should keep in mind that these events are usually not for profit and under funded. You may notice that many of the speakers seem to be trying to sell you something.

Remember that speakers at the real estate investment club meetings aren?t getting paid to present. So the speaker uses the opportunity to sell his or her services. These services might be in the form of a video, mentoring, or a tape set. Learn to look beyond these sales tactics to hear what the presenter is trying to teach you.

Listen to what each speaker has to say, regardless of what he is trying to sell, and try to learn something from the speech.

Make sure to have respect for the time of the veterans that you meet in your real estate investment club. Often investing newcomers think they can simply take a veteran out to lunch in exchange for some tips to use in real estate investing. As a new investor, it is important to understand that few people give away valuable knowledge for free.

This is especially true of veteran real estate investors. Unless you are bringing some deals to the table, you shouldn?t expect for a veteran to just hand over education.

You should also keep in mind that these veterans have spent years of money and time taking courses and going to seminars to learn the real estate business. It is very unlikely that they will pass along this knowledge for steak and potatoes. This doesn?t mean that you can?t ask a veteran for advice, but that you should make it worth his while to teach you the tricks of the trade.

Use the real estate investment club to network and meet other people. When you go to meetings don?t sit alone in the corner then quietly duck out minutes before the meeting has ended. Use these real estate investment club meetings to your advantage.

Let the other club members know who you are and why you are there. If the club doesn?t have name tags, bring flyers. If flyers are against the rules bring business cards.

The most important thing is to make sure the other real estate investment club members know who you are and what you can bring to the table. This let?s them know that you are serious about real estate investing and, in turn, makes them more willing to help you.

If you have some experience or can help other members they will be more likely to help you.

One of the most important things you can do to benefit from the real estate investment club is to become a member. Of course you will need to pay a fee upfront, but the fee will seem like pennies compared to the benefits you will receive from being a member of the real estate investment club. In your real estate investment endeavors you will need many resources along the way, what better way to get the help you need than from your fellow real estate investment club members.

About the Author:

Claim a free e-book that will show you a system used to control $4.1million worth of real estate for just $22 - and you can follow this system to do the same. Comes with resale rights from: Free Real Estate Fortunes Ebook

Real Estate Investing - Is There One Magic Rule?

If you’ve spent much time around people who invest in Real Estate you know they all have their favorite rules. In Investment Club meetings, online chat rooms, even at the corner coffee shop, you catch snippets of conversations including phrases like,

?Location, location, location,?

?Buy low, sell high,?

?Invest in what you know,?

and many others.

While these are all important, in my experience (and that of many other seasoned investors) there is one rule that, if followed consistently, will save you from almost all of the potential pitfalls investors commonly encounter. What is this pearl of wisdom?

Simply this: YOU MAKE YOUR MONEY WHEN YOU BUY.

?What?s that,? you say? ?Everybody knows you make your money when you sell.?

?Not so fast,? I reply.

Think very carefully through what I?m about to say. Etch it into your mind and heart. Follow it faithfully and you will come close to guaranteeing your investing success. Forget it at your peril.

YOU MAKE YOUR MONEY WHEN YOU BUY. Very simply, this means that your profit is literally created at the time you purchase a property, through the price you choose to pay and the terms you negotiate in your purchase offer. There is no other time in the life cycle of an investment when you will exercise such tremendous control over your potential profit.

There is no other time when you can come so close to guaranteeing your success, and also no time when you can virtually guarantee your failure.

Buy right, for the right price and terms, and you will be able to weather virtually any unforeseen or unknown defect in the property. Sure, some of your profit may be eaten up correcting the problems, but there will still be something left for you- something to allow you to move on to your next project.

Buy wrong, spending too much on the property, and even if you do everything else right you will be hard-pressed to make money.

This Rule Almost Makes The Others Obsolete

Even if you?ve broken most or all of the other so-called ?rules? of Real Estate investing, if you follow this one magic rule, you can emerge victorious, a little wiser but unscathed by crippling losses. Let me illustrate.

Recently I purchased a single family home, and in so doing I broke many of my own rules. I bought a house nearly an hour from my home, I bought a house for the wrong reasons (I really, really liked it), and I bought a high end house in a low end neighborhood (a classic no-no). I also bought it without having a clearly defined exit strategy (another classic blunder). I just knew I could do something with this house.

Additionally the house had one of the most investor-unfriendly features I have ever had the misery to run across- an indoor swimming pool. When I wasn?t busy finding and repairing leaks in the liner, I was struggling to refill the pool using the property?s seriously overtaxed well, which I had to keep waiting for to recover. I still have nightmares about it.

This house took me three times longer to sell than I first imagined, and holding costs were eating me alive.

But? I owned this house right because I had bought it for the right price. I had foreseen that this house, with all it?s beauty and features, could also be a very difficult house to rehab, hold, and sell. Based on that, I structured my offer with plenty of room, which is a good thing, because much of that ?room? was eaten up before I was finally able to sell.

Much, but not all.

Why was I able to withstand all of those expensive problems and still walk away with a tidy profit, and some hard-won wisdom? Because I recognized and applied the first and most important rule of Real Estate investing- YOU MAKE YOUR MONEY WHEN YOU BUY.

I believe that if you will etch this principle forever in your mind, and think of it always when making your offers, you will safeguard yourself from almost all potential investing disasters (acts of God excluded).

Two Things You Must Know

To put this principle into practice, you absolutely must acquire knowledge in two key areas- market values and repair costs. While each of these is worth an article on it?s own, I will cover them briefly here.

First, market values. You must thoroughly understand the market values in the neighborhood where the property is located, so that you can project an accurate After Repair Market Value (ARMV). In other words, how much will this property sell for after all needed repairs and upgrades have been completed. While it is beyond the scope of this article to cover market value in-depth, I will simply note that the one best way to determine the ARMV of a residential property is to compare similar properties in the neighborhood which have sold recently (called comparables or ?comps?).

If you don?t know the values in the neighborhood, STOP! Don?t invest there until you have come to understand the values by looking at lots and lots of properties, and talking with Realtors and others who know the neighborhood. Then you can proceed from a position of strength, certain that you know what you are doing.

Second, repair costs.

Once you know the ARMV, you need to be able to work backwards to arrive at an offer that makes sense. To do this, you must know what any needed repairs and upgrades will cost you. You don?t need to know to the penny, but you must come reasonably close, and you can only learn to do this with experience. If you don?t have this experience, and you?re not an expert, hire one.

You will need to befriend a contractor you trust, or partner with one on a few deals. Either way, let someone who knows this stuff bring you up to speed. Get a contractor on your team.

It shouldn?t take you more than a few deals before you can walk into a home in a neighborhood you?re familiar with and, after spending no more than 10 minutes or so, know what it will cost to repair and what it will sell for after you repair it. Knowing you can do that equates to freedom and power.

How To Structure Your Offers

Armed with that kind of specialized knowledge, you will be able to confidently structure offers that others can?t, because they just don?t know what you know. Once I have this knowledge (ARMV and repair costs) I use a very simple formula to structure almost all of my offers on residential rehabs. Feel free to use this formula for your offers.

ARMV ? Repair Costs ? 30% = My Offer

Here?s an illustration. I recently looked at a single family, split level foreclosure in a middle class neighborhood I am very familiar with. Knowing the values for similar homes in that neighborhood were around $90,000, I next walked through the house and estimated repair costs to be about $12000. Here?s how I structured my offer:

ARMV ($90,000) ? Repair Costs ($12,000) = $78,000

$78,000 ? 30% ($23,400) = My Offer ($54,600)

Did it matter to me that the asking price of the house was $84,000? Not in the least. My offer (and therefore my profit) has absolutely nothing to do with how much the sellers are asking, or how much someone else might offer. My offers are based on my specialized knowledge of market values and repair costs.

If someone else wants to offer more, that?s fine by me. Their circumstances might be much different than mine. Perhaps they are going to live in the house while they repair it. Maybe they are ignorant of market values or repair costs, or both. It doesn?t matter. I won?t let their mistakes become mine, and you shouldn?t either. There are plenty of houses out there.

You?ll get plenty of offers accepted, because you know what most others don?t. You know that- YOU MAKE YOUR MONEY WHEN YOU BUY.

Now, go make more offers!

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