Wholesaling - Does It Really Work?

There have always been seminars on how to make money in real estate. There was buy and hold, flip and now wholesaling. Seems like there is always something going on in the world of real estate. Is this all bad? No. Buying and holding real estate for rental income and future sales is a path to great wealth. Renovating homes to "flip" (sale) later also has made a lot of investors profitable. Now the concept is wholesaling; Does it have the same guarantee of return that buy and hold and flipping has in the past? Let me give you a definition for wholesaling real estate. It is when you purchase a property way below value and then sell it to an Investor at a slightly higher price. The difference

Fix and Flip - Fact or Fiction

There are many shows on A & E sharing the concept of fixing and flipping properties. These shows reveal how properties are purchased, rehabbed and sold. Most of the time there is a profit for the investor. I like these shows. You get to see some great ideas on how to convert properties so they can be resold at a high price. Overall the concept is good. The challenges I find with these programs is the information they choose to leave out. With this omission you cannot have the level of success they all seem to enjoy. Consider; 1) The biggest challenge in fix and flipping is getting the money- this is by far the one hurdle every investor must overcome. In many of the flip shows you see investo

Does Real Estate Coaching Really Work?

Real Estate Coaching is big business. This is where a "guru" offers to coach you to your real estate dreams. The way it is displayed it sounds like the only people who make it in real estate are those who get coaches. Being a sports fan and someone who played sports under coaches I will be the first to say that coaching has a ton of value. It was Michael Jordan's high school coach who gave him advice that pointed him in the path of stardom. Many legendary coaches receive accolades from their player on a regular basis and the praise is well deserved. But when I look at a lot (not all) of the real estate gurus stressing the need for everyone to have a coach to be successful, it turns my stomac

Building Your Real Estate Portfolio

If you are serious about being in the game of real estate, then it may be time to begin to build the foundation that will grow your wealth; portfolio building. There are a lot of ways to make money in real estate. You can buy and renovate properties for flipping. You can wholesale properties to end buyers. You can earn fees by referring properties to investors. You can get a license and sell real estate or manage other people's real estate for a fee. But the only way to build what I call "residual income" is to build an income producing portfolio. This means that you have to develop an income stream that comes from having tenants paying rent in properties that you own. I encourage everyone w

If You Are Rich, Why Do You Need My Money

I am a Real Estate Investor. I look for deals, put together the financing, close and either resell those properties or hold on for rental income. This is what I like doing. It never ceases to amaze me the number of people who claim to be in a position to help you achieve your goals but can only do that if you pay them. Now I have no problem paying for services rendered. I have a problem paying when the only person who benefits is the one who receives money. Let me explain. I am always looking for lending sources. I find some who say they can give me the money I need to purchase but I have to pay them a fee. This is to either cover insurance, to cover processing fees or administrative fees. W

Real Estate Can Make You Rich

People dream about being rich all the time. There are a few ways to do that. You can inherit wealth from your family (like the Walton's or the Hilton's), you can build a successful business that brings you wealth through ownership (such as Bill Gates or Steve Jobs) or through investing (Warren Buffet or Donald Trump). Then there is real estate. I believe that this is the best vehicle for the average person. When you want to build a nest egg that can be worth millions of dollars you can use this as the vehicle. Here are a few reasons why: 1) Appreciation - Contrary to what has happened in our economy these last years appreciation is still one of the top reasons to own real estate. Property ha

Fix and Flip - Fact or Fiction

There are many shows on A & E sharing the concept of fixing and flipping properties. These shows reveal how properties are purchased, rehabbed and sold. Most of the time there is a profit for the investor. I like these shows. You get to see some great ideas on how to convert properties so they can be resold at a high price. Overall the concept is good. The challenges I find with these programs is the information they choose to leave out. With this omission you cannot have the level of success they all seem to enjoy. Consider; 1) The biggest challenge in fix and flipping is getting the money- this is by far the one hurdle every investor must overcome. In many of the flip shows you see investo

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