If you are a little bit old-school and feel cantankerous about being tied to the web, let me give you three great reasons to consider these particular real estate investing tools: 1) save time 2) save cost 3) easy to use. These are designed to be click-and-go tools anyone can use.   Signnow – Projects don’t move without signatures, from contracts to work-order authorizations. Signnow allows online legal authorizations without a scrap of paper involved. Signatures are executed by following just a couple of simple “click” steps. The cost is scaleable to the volume you want to do, starting at Read more…

“Analysis-paralysis” is an old term that still applies to many who hesitate – is today exactly, precisely the right time to buy?  Is this property so perfect in every respect that I can safely move on it, or should I wait for an even more perfect property?  Will I know more tomorrow that could change my decision?  Have I been correct in all my calculations, forecasts and research?  Is it really, truly the time to buy into real estate investing?   In a word:  YES!    Why do I say that?  My 13+ years and 3,000+ properties have taught me Read more…

Powerful networking is essential in any business, but seldom more so than in real estate investing. The best opportunities often come through a tip from someone in the know, rather than classified ads or even the MLS. How can you become an insider in the real estate investing information network?   Go where powerfully-connected people go. People in the know in local real estate, who can help you with everything from a business connection to a hot tip on an undiscovered property, tend to congregate at established civic clubs such as the Kiwanis and Junior League, and in public meetings Read more…

Internet innovations have benefitted real estate investors enormously, saving cost, time and streamlining the business. Here are several internet tools that will make your business more effective and efficient.    Listing service websites serve a basic industry purpose – to compile all the listings of property currently for sale, as well as provide information on property sale prices, time on the market, canceled listings, recent sold property and more.  A major change brought by the internet to real estate investors is broad access to property information that used to be hidden from all but licensed agents and brokers.   The Read more…

Learning to invest in yourself is the most important step in your real estate investing journey. I highly recommend all real estate investors read these practical, inspirational books with close attention. These books not only presented techniques that have been invaluable to my real estate investment success, they boosted my self-confidence and helped awaken an inner fire for successful investing in real estate. “Rich Dad Poor Dad,” by Robert Kiyosaki. – This was the first book to give me a push toward real estate investing. The principles in the book are so simple a child could understand them, yet they Read more…

Partnership-building starts with this basic principal: BE the partner you hope to have.Real estate partnerships combine different strengths and skills to get a project done.  Partnerships match money needing a project guide with someone who can complete a project.  It is critical to find and establish strong connections with the people who can invest capital and provide services, and the key to attracting their attention starts with your own qualities and self-confidence.   Attracting the right business partners is very simple… always do what you say and say what you mean. How do you do this in a way that Read more…

Hiring the right property management company can make a huge difference in your real estate investment experience. Hiring a mediocre company can mean, at best, work gets done with significant headaches on your part or, at worst, you get swindled. Make sure you ask these three questions to get a great property management company. 1)    “Can I see your contract?” This seems like a ridiculous question to ask but you’d be surprised how many investors set up agreements with property managers without putting anything down on paper. Getting a good look at their contract will give you a good idea Read more…

In a hard economy you have to watch all your bills to make sure your money is being spent correctly. One set of expenses to keep an eye on is your property manager and their repair prices. Many property managers are seasoned professionals who work hard and charge fair prices, but some of them are sharks. Don’t get burned; take a good look at what they are billing you for. Making repairs instead of replacements and replacements instead of repairs. This kind of thing is often a judgment call but if you see a lot of expensive items being replaced Read more…

Buying bank-owned REOs, like buying foreclosures or short sales, is a great way to get into the real estate market and make a profit. However, like foreclosures and short sales, bank-owned REOs come with their own set of risks and common mistakes. Here are the three biggest mistakes investors make when buying bank-owned REOs: #1 Have an inadequate understanding of the property’s condition.  This cannot be overstated: these kinds of properties are nowhere near move-in ready. They take a lot of work to turn around. Do your research, get an independent appraisal and inspection, and have a contractor take a Read more…

Finding great tenants for your rentals properties can be like panning for gold. You have to sift through a lot of dirt to find the one that’s worth your time and energy.  However, you can optimize your tenant-finding process by using these three tools: Online screening packages.  One of the most common tools is online packages that will screen your prospective tenants to varying degrees. Services like tenantscreening.com come at a price but can be well worth the money if they save you an eviction process.  Comprehensive renter applications. Put together a detailed rental application. It’s a fairly common tool Read more…