2 Buy Sell Or Invest

By Peter Vekselman

 If you’ve personally been touched by the pain and embarrassment of bankruptcy you may think that your life will never be the same again. You may also believe that real estate investing is a thing of the past because lenders will forever consider you to be damaged goods. Fortunately, life does go on and you will recover from this. However, it will take time before some lenders will consider lending you money for your real estate investing activities, although you do still have options. Here are some steps you can take today to begin the recovery process-while you invest.

Credit won’t be as readily available to you, so the first order of business for you will be to try to quickly build some positive credit. There are several good ways of doing this. Here are just a few:

Secured Credit cards-After a bankruptcy your personal credit rating is in the tank. Most traditional credit card companies- even those that charge an annual fee, won’t want to touch you right away. However, it won’t take long for them to be willing to take a chance on you. You can grease the credit wheels by getting a secured credit card, which is simply a savings account with the issuing bank with a deposit equal to your credit line. By requiring this deposit, the issuing bank has some assurance that they’ll receive the lion’s share of their money in the event that you default. You’ll want to utilize the card regularly and pay at least part of the balance off each month in order to generate positive credit report entries on a monthly basis.

Personal loans-By going to one of your local banks and explaining that you’re trying to re-establish credit after a bankruptcy you should be able to convince your banker to lend you a small amount of money, say $1,000 or so, backed by a corresponding savings account or Certificate of Deposit (CD) account. You’ll be paying a small amount of interest for the privilege, but the expense you’ll incur will be well worth the points your credit score will gain.

Credit aging-Do you have a family member or a friend that would be willing to add you as an authorized user on their credit card account? They don’t need to actually give you a card to use; the simple act of adding you as an authorized user will give you the benefit of “hitchhiking” off of their payment history.

While you’re implementing some of these credit rebuilding strategies, you should also be actively investing in real estate. Traditional avenues of financing will be off-limits for awhile, but there will be numerous avenues you can utilize that will make real estate investing not just a possibility, but a certainty:

Bird Dogging-As a bird dog you work as a real estate scout, doing the leg work of locating available properties for investors who will actually close the deals. You won’t be placing these properties under contract-your job simply involves sniffing these properties out and letting the investor know what you’ve located. When he or she closes the deal you’ll receive a “finder’s fee” for the project, which puts cash in your pocket and gives you practical, real-world real estate investing experience.

Wholesaling-This is a step up from bird dogging. You take the same steps of locating the available properties, but you also incur more risk by placing the property under contract and “selling” your contract to another investor for a profit. Depending upon how good you are at this, you can realize a substantial income by wholesaling.

Partners-Your credit may be badly bruised temporarily, but if you stay motivated you can find partners with cash to lend on a real estate transaction. You can utilize partners for their cash for a short term loan for buying distressed properties at rock-bottom prices, rehabbing them quickly, and re-selling them for below market prices for a quick profit- and a fast payback. There’s also a possibility that you can find investors that are looking for an ownership stake and a portion of the cash flow generated by properties in which you invest. You can locate prospects among your family and friends, your local REIA meetings, or even by advertising on Craig’s List.

Private Money lenders-You can also locate private individuals that have cash they would like to invest in real estate. If the deal is sweet enough, they’ll lend you money for your real estate investing activities in exchange for an equity stake or a quick payback.

Hard Money Lenders-As your credit score increases you’ll also be able to turn to hard money lenders for financing. The terms aren’t very good, but if you’ve found a truly good deal on a property it won’t matter. Plus, these loans will show up on your credit report which will allow you to qualify more quickly for institutional financing.

The steps you can take to rebuild your battered and bruised credit report after a personal bankruptcy are limited only by your imagination and your willingness to work hard in achieving your real estate investing dreams. So go ahead, get moving today and begin the process of rebuilding your credit score and building an investment portfolio. If you have limited real estate investing experience or you’re not sure what other techniques you can utilize in coming back from financial disaster, consider finding a good real estate investing coach who can show you the ropes and teach you a multitude of techniques that can ramp up your career and have you on the right track in no time. Success is yours for the taking, but you need to get started to reap the rewards. Get started now!

Peter Vekselman has been successfully investing in real estate since 1996. He has completed over 1000 real estate deals, owned a construction company, been a private lender, and owned a property management

company. To learn more about Peter please visit

http://www.coachingbypeter.com.

The Utah Real Estate Market: Some Tips
By Ben Needles

 The Utah real estate market is one of the top three markets in the country that is still seeing improvements, even during these tough economic times. This is because tech businesses in Utah are booming, and many people who live and work in the state can afford to get the home that they have always wanted.

If you are looking for a home, there is still a steady pace of construction for homes in Utah. Areas in Syracuse, Clinton, and West Point are all seeing a heavy move toward new construction. Also, the prices of a single family home in the Utah real estate market are sustaining a rise that began back in 2004. If you are looking to sell your Utah home, this is the right time to do it. Not only will you get the value of your home, but you will also see that there could be many offers for those who are selling a home in one of the more desirable areas of Utah.

While buyers are looking more to new homes rather than previously owned homes, you will still find a rise in sales volume for those older homes. If you are looking to sell your home and want to get it done quickly, you will have to remember that condition is the biggest selling point for this type of market. If your home is in less than perfect condition, you will want to fix it up at much as you can before you put it on the market. Buyers in Utah are not generally looking for that fixer-upper that they can put their own sweat into. Instead, they are looking for someone who has done the work for them so the house is ready to move into as soon as they sign the papers.

If you put the initial investment into improving your home before you put it on the market, you will see a return in the purchase price. Buyers are also more demanding when it comes to the closing costs and other aspects of the home buying process. If you work with them on concessions, your home will be sold in no time.

For buyers in the Utah real estate market, you will find that many sellers will cater to you if they want to sell their home. Although the Utah market is doing well, there are still people who recognize and are affected by the real estate market throughout the rest of the country. They know that hard times have hit everyone, and if they dont make a good deal they wont be able to sell their home to you. This is why you will want to look for a home that will be ready to go as soon as you move in. Buying a home to fix up in this kind of a market is only going to work for you if you are willing to live there for a decade or more. But if you want to live and work in Utah, you will find a home that is right for you, and for the right price.

About the Author (text)

Jordan Mcpelt is a professional author who specializes in Real Estate and Utah Real Estate. For more information on Utah Mls please visit http://www.zoomutah.com

best hair loss treatment organin

Your Source For Real Estate Services

Real Estate Investment MATH: Investor + Realtor Loyalty = Success!
By Peter Vekselman

 You may be reading in the real estate blogosphere and hearing from the experts out there, that now is a great time for real estate investing, due to the incredible amount of deals and foreclosures that exist across the country. Banks are giving homes away.

I do agree as I work with these deals all the time. However real estate investing can be a risky business and a very slippery slope. One thing that is indisputable, investing in Real Estate involves MATH.

Yes our favorite subject. But it is really quite easy and Here it is:

INVESTOR + REALTOR LOYALTY= SUCCESS

1. First, you must, not it would be nice if you did, but you must interview local real estate agents in the area you are thinking of investing, because they are in the trenches every day with buyers. Realtors know what buyers want, what neighborhoods are in transition, declining, revitalizing and which areas will likely bring investors the best return on their investment down the road.

2, Once you have interviewed several Realtors to see which ones are selling, not just listing the properties in your chosen area then commit to them. Let me say this again….commit to your Realtor because they will work hard to make the entire transaction smooth and bring it to its ultimate conclusion….closing.

There are many, many steps along the way from contract to closing. If you are loyal to your Realtor, they will be loyal to you and will be a considerable asset in your investment plans. As a good investor you must realize the importance of having a good real estate agent in your corner. It can mean the difference between success and failure. Your TIME is money and your Realtor saves you an incredible amount of time, from negotiating the contract, to setting up the inspection, to working with the lender, appraiser and the closing attorney, the list goes on and on.

3. If you buy to renovate and resell, guess what? The Realtors are a wealth of information when it comes to contractors who they recommend for your project. They have had the opportunity to see how these contractors work, their fees, their reliability, etc. Bad contractors can eat away at your profits quickly, so you need good ones.

4. Okay, so now you are ready to resell the property. It is here where many investors think the hard part is over. They think they will just put a for sale by owner (FSBO) sign in the yard and sell this thing on their own. Big mistake in this market. Now more than ever you need a Realtor working hard to get the home sold. They have access to buyers that you do not, when a buyer does comes along, again the negotiation process starts and you do not have to deal with that buyer face to face. As an investor there are significant benefits in NOT having to deal with the buyers directly. Remember time is money and many investors mistakenly think, hey I can sell this home on my own and save thousands in commission, but forget to realize that they will likely hold onto that property for a longer period of time than if they had used a Realtor from the start.

Here is what happens so many times. Investor puts the home on the market on their own, it sits there unsold for a few months or more and THEN they call upon the Realtor. Well they have just lost equity by having to pay their mortgage note for the months that the home sat unsold on the market. Realtors will tell you, the longer it sits, it becomes stale and you will most likely have to reduce your price to sell.

Depending upon your margin, you may have lost most if not all of your profit/equity…not a good situation, but one in which many investors fall into.

5. If you use a knowledgeable Realtor to buy the home, use the same Realtor to sell the home (why not, they know all about it from start to finish). If you stay loyal to the Realtor, guess what? They will become a “bird dog” for you and start finding YOU the deals. now that is what I call success!

Investor + Realtor Loyalty= Success. There is NO fuzzy math here….Agreed?

Now go out there and do good things! Invest in real estate today but do not go it alone, get the training, coaching and mentoring you need to reap the rewards this business can bring to you.

Peter Vekselman has been successfully investing in real estate since 1996. He has completed over 1000 real estate deals, owned a construction company, been a private lender, and owned a property management

company. To learn more about Peter please visit

http://www.coachingbypeter.com.

overseas investment properties

You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.