I’ll explain why I think the most important thing about the economy and real estate market trends for real estate investors are the effect they have on homebuyers. Are homebuyers eager to get in now? Are they skittish about some dicey market news?   No question about it, the dynamics of the real estate market have fundamentally changed over the last two to five years in most major markets. But that still doesn’t change the real estate investor’s approach to any market. It’s smart to be wise to the trends, know the market factors and where the market seems to Read more…

If you feel your real estate investing business is running you, instead of you running it – if you feel you’ll never have time to do even half of your best project ideas – if you feel the endless list of daily tasks is getting in the way of business growth – you need to stop everything you are doing, and read “The E Myth” by Michael E. Gerber. If it is possible for one simple, well-organized book to save your future as a real estate investor business leader, this is the book.   Real estate investors are entrepreneurs of Read more…

The fun of real estate, for me, is being out in the field, getting dust on my shoes, tramping along driveways, and prowling through distressed properties. I like being with the sub-contractors in a hot, grimy building, surrounded by old, shattered cabinets and stacks of new floor covering. But as much as I relish a passion for this business, keeping notes of every great idea, organizing mountains of documents, and getting necessary photos to the right people – these could be overwhelming without a great online tool that handles and organizes everything: Evernote and Evernote Business.   Evernote is an Read more…

I’ve chosen “How to Build a Real Estate Empire” by Marcel Arsenault, John Hamilton, Ben Leeds and Gerald Marcil to include in my essential reading list because it is grounded in practical, real-world advice, from 4 men who did everything in real estate investing that they write about. Arsenault, et al, write from their own personal experience, and includes their own stories of building real estate portfolios to values of hundreds of millions of dollars. All describe the pitfalls and triumphs, and the methods and strategies for achieving enormous success in real estate.   The book is not written for Read more…

The internet is rich with tools for real estate investors.  These are the 6 websites I recommend as essentials for your real estate investing business.   1)    Listings and local information websites – Zillow, Trulia, Realtor.com and similar websites are invaluable resources not only of currently available listings, but local information on schools and services, sales of comparables, and statistical data.  I use Zillow most often as it has readily accessible statistics and community information for each property listed. 2)    The MLS (Multiple Listing Service) is still an essential for a complete look at the available listings.  MLS is a Read more…

What is the most costly mistake you can make in real estate investing?  Is it getting into a project doomed by hidden problems, or following the wrong market strategy?   ‘No’ to both of those – because neither situation will cost you as much in the long run as neglecting the real key to successful real estate investing.  The most important factor in your success is YOU, including the training and preparation you give yourself to solve problems and identify sound strategies for profits.   Successful investors never stop learning and building what they themselves bring to the table.  Where Read more…

There has never been a time when so much information was so freely available to so many people, thanks to the explosion of the internet.  Real estate investing success depends on current and accurate information.  Listing websites provide an invaluable service to many investors who might be frozen out of the market without them.  But what should you know to avoid problems and make the most of Zillow, Trulia, the MLS and other online real estate listing sites?   The venerable MLS (Multiple Listing Service) has a tradition going back over 100 years of listings from virtually every large and Read more…

  Robert Kiyosaki has written two books I include on my essential reading list.  I reviewed “Rich Dad Poor Dad” in an earlier blog post.  “The Cashflow Quadrant” is Robert Kiyosaki’s second published book in the “Rich Dad” brand, and it is another thought-provoking read that goes beyond investing advice to changing the way you see yourself, your life, your purpose for living.   Is your life about working a job for an employer, in return for a wage or salary?  Most people – 95% of the population – are in this situation.  They put away what they can to Read more…

Putting your investment money to work generating the highest possible real estate ROI (Return On Investment) is what it’s all about.  Are you happy with the ROI on your last three projects?  I hope not – we can always look for ways to improve and do better!  What’s the best way to improve your ROI and enjoy more money from your real estate investment dollar?   Your most important tool, your most valuable resource and asset … is YOU!  You can’t always control market factors, partners, buyers, sellers, and all the random events that make real estate projects so interesting Read more…

If you’ve been thinking of jumping in but haven’t quite made the decision, I have 4 factors for you to consider as to the advantages of real estate investing.   1)    Tax advantages – Several deductions are available for investors in rental properties that make opportunities even more attractive. Depreciation on the property value.  This is not just on the mortgage value, but on the value of the property itself.  Interest on the mortgage loan – and also on credit cards used for purchases of goods and services for the property. c.    Repair and rehab costs. Travel – Both local Read more…