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Investment Real Estate Made Easy - Make the Most from Each Investment Dollar
When it comes to buying investment real estate, there are many schools of thought on how to get the most out of your money. Some say lease optioning your houses is the best and safest way to go. In fact, I believe this to be true in many cases. For getting the most out of each investment dollar, though, and seeing a quick return, I believe that it is best to find property that you can rehab and resell. Many people have tried this strategy and failed. Let me tell you why this is. Anyone can make money buying investment real estate, fixing it up and reselling it, as long as he or she understands how to buy and how to sell. This is the key. The people who fail in the rehab strategy of investment real estate fail because they know everything about rehabbing but nothing about buying and selling. The real money is made by carefully evaluating the entire transaction. This includes looking at what the investment property will bring on the back end, or on the sale. Now, when you find a prospective investment property to buy and rehab, be sure to look at your profit after all of our money is spent. I would never consider a deal that I couldn't make at least 40 percent above my purchase price and all I've put into it. So, if I pay $40,000, put in $10,000, I want to sell my investment property for at least $60,000. If I can do this in one month, I'm happy, as long as I'm not splitting my profit with too many parties. Even if I have a partner or two, a quick $10,000 in one month is fine, as long as I have another deal going at the same time. Now, if you want to move your properties quickly, and a month is not a reasonable time, you might consider combining two strategies - buying investment real estate for the purpose of rehabbing and quickly lease optioning the property. From there, you can move on to your next purchase. Mark Barnes is an investment real estate and real estate finance expert. Get his free mortgage finance course at www.winningthemortgagegame.com. Mark is also the author of the new novel, The League, a shocking, sports-related conspiracy. Learn more about his suspense thriller at www.sportsnovels.com. He is also Mark Barnes is an investment real estate and real estate finance expert. Get his free mortgage finance course at http://www.winningthemortgagegame.com. Mark is also the author of the new novel, The League, a shocking, sports-related conspiracy. Learn more about his suspense thriller at http://www.sportsnovels.com.
MORE RESOURCES: Also: David W. Higgins, David Bohnett and more. Reality TV star and singer Heidi Montag has been hiding out by the beach this summer at a Malibu place she rented for $25,000 a month, according to the Multiple Listing Service. But she moved on in late August, and the gated contemporary is back on the market at $5.5 million. A Long Beach couple struggling with mortgage payments find out their home's been auctioned off by Wells Fargo when the new owner's representative shows up on their doorstep. Mike and Ellen Kahara knew times were tough. They'd run up about $30,000 in debt on their credit cards and had fallen about $8,000 behind on their mortgage payments. The 1960s Buff & Hensman-designed Wong House has a pool, a walled garden and downtown and ocean views. It seems as though actress Scarlett Johansson had no sooner sold her old place in the Hollywood Hills than she and her husband, actor Ryan Reynolds, closed on a house in Los Feliz for $2.9 million. Completed a few years ago, a Normandy-style estate was built to look a century old. Glen and Linda Keane felt guilty about tearing down the O'Melveny family home. After all, John O'Melveny was part of a group of Los Angeles businessmen who formed Lake Arrowhead Co. in the 1920s and oversaw the lake's development into a popular resort destination. The mortgage giant quietly launches the HomePath program, which offers subprime-era terms for buyers: minimal down payments, no appraisals, no mortgage insurance and lower minimum credit scores. If you're a buyer with little cash or a small-scale investor looking for a deal on a foreclosed house, a little-publicized national lending program could be just what you need this fall. How some of our previously featured properties have fared in the sales market. Buff & Hensman-designed beach house Lenders lose an estimated $310 million annually in undervalued short-sale transactions, according to a study released in August.
Question: I am fed up with my homeowners association and successive boards for sabotaging owner requests for records and refusing to fix maintenance problems in common areas that directly affect individual units. I believe I have no other choice than to sue the association and the boards. What are the steps I have to take?
Keeping tenant out over concerns of illegal activities may be viewed as a 'constructive eviction.' Such moves as changing the locks to prevent access can bring significant penalties. Question: I own a couple of houses that I rent out for extra income. Unfortunately, they are not in the best part of our town. I have a tenant living in one of them who may be dealing drugs or doing something else illegal because the police have arrested him several times. Every time he is arrested he makes bail and returns to the house in a day or so. Even though he pays the rent on time, I realize that I can't continue to allow him to live in my house. My plan is to change the locks the next time he is arrested, so he can't come back into the house. I know that I need to protect his property inside the house if I do this, but my plan is to move his belongings into a storage locker. I can't afford a lawyer to file an eviction case, so this is my only alternative. Will I be OK if I do this? July's increase from June in the National Assn. of Realtors' gauge for previously owned residences follows two straight months of declines and a report that sales of such homes dived 27.2%. An index of home purchase contracts for previously owned dwellings unexpectedly increased 5.2% in July over June, the National Assn. of Realtors said Thursday, a modest note of good news for the U.S. housing market. |
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