The economic media is awash in pundits with opinions on every aspect of national trends in the economy and real estate.  But do those opinions and trends apply to the local market?  What’s the best way to stay in touch with what is happening with real estate in your local market? Here are some resources to help you stay connected to what’s happening in your local market, so that you can make smart, sophisticated real estate investing decisions. 1.       Check out the MLS and Chamber of Commerce.  Both these resources will provide excellent data about what’s happening in the local Read more…

You know your budget for your next investment project, and you know where to find opportunities in the area that holds your interest.  Isn’t it enough just to look at the local listings and do the normal due diligence? It’s no secret that, after the last few turbulent economic years, both the real estate market and other economic markets are changing.  Each market affects the others, and can provide leading indicators of what you can expect in the near and long term.  Trends in stock prices influence the attractiveness of real estate investing, while interest rate movement affects the willingness Read more…

Three Presentation Skills You Should Know Getting your offer on a property accepted is what all of this hard work is about. You’ve found a property, done your due diligence work, run the numbers and are ready to present an offer. This is where the rubber meets the road, so to speak. What can you do to give yourself the best chance of having your offer accepted? Well, there are skills in presenting your offer that can greatly improve your odds. Here are some things I’ve learned. If you’ve crafted your offer in the most effective way (see my post Read more…

Presenting information about a real estate project is just a small part of actually learning how to invest in real estate, but it can be a bit unnerving if you don’t have the right skills to do so. Here are three presentation skills that will help you whether you’re in the board room with investors, or at the kitchen table with sellers. 1. Be Confident. Nothing sells better than confidence. You know how to invest in real estate, now show everyone else that you know what you’re talking about. You can build your confidence by simply building your knowledge about Read more…

  The things that make up an attractive offer for a property vary based upon what kind of market we’re in. Knowing the market environment is crucial to crafting an effective offer. If you’ve both sold and bought properties as I have, you start to get an idea for what makes up an effective offer to purchase. But you have to also keep in mind that every seller is unique and has different motivations. Learning to recognize what kind of offer will appeal to a specific seller is an art – one that you will learn over time. That being Read more…

The more you learn to invest in real estate, the more you’ll realize that a great portion of your success depends upon effective communication.  Often, real estate investors approach potential sellers who are in distressed real estate situations with a letter. Here are two key tips to writing an effective one… 1. Let Them Know What’s in it for Them. Always speak in language that is focused on them: their needs, their problems, and the solutions you offer.  Don’t spend a lot of time talking about yourself just yet, except to build credibility and prove to them you can help.  Read more…

It’s an unavoidable truth when investing in real estate; you’re going to have to deal with a wide range of sellers. Some are professional and easy to interact with, while others are full of emotions like fear and anxiety. Dealing with these sellers can be a challenge, especially if they are on the verge of losing their home. Here are some tips for interacting with sellers of all types. Put yourself in their shoes – It sounds cliché, or maybe like something your mother would tell you, but it’s a great thing to remember. A property seller is often in Read more…

Dealing with sellers and their objections is a daily occurrence for real estate investors. While some sellers can pose quite a challenge, most objections can be dealt with by following a few simple steps. 1. Be Honest. When trying to figure out how to buy rental property from sellers that have a lot of objections, the best thing to do is to answer their questions as thoroughly as possible and to just be honest. Most of the time, people can sense whether or not you’re being truthful. In cases like this, honesty is always the best policy. 2. Listen. It’s Read more…