Property Investing Secrets 9

Property Investing: Here Are Two Important Tactics You Must Do When Buying Real Estate Off The Internet

You can purchase property off the internet. The off line fundamentals of property investing apply on line. My friend Roger does property investing and is a real estate agent. Recently he told me how he negotiated a transaction. He spotted the property on the internet off a real estate agent's website.

While property investing for over 20 years, Roger typically purchases his properties off line. But Roger just bought a property which settles next month in Yeppoon. This is a coastal town next to Rockhampton in Queensland. He has not seen the property except for photos from the real estate agent.

Roger's property investing philosophy, like many seasoned investors, is he's detached from the process. He also knows that if he would have physically inspected the property that he would have paid alot more for it.

(The agent would have known that he was flying interstate specifically to inspect this property.) But because he hadn't seen it, just saw a photo on the internet.Roger said to the real estate agent, "Look this is my price take it or leave it." I'm not prepared to even come up and look at the property until I know I've got a signed contract from the seller at this price.

First, Roger applied his offline property investing philosophy on line: remain detached and unemotional about the purchase of real estate.Roger knew if he got in the plane and spent money flying up there and got emotionally commited, the vendor would have dragged an extra $10,000 or $15,000 out him because he was making a special trip to fly in.

Also, Roger had physically inspected the areas where he planned to purchase in advance of this transaction. Thus when the time came, he was able to speak knowledgeably about the area with the agent. This gave Roger confidence to buy on line and the agent must have felt he was credible.

Rick Otton is the director of We Buy Houses Pty Ltd. He has been property investing full time for 14 years. Rick has completed over 351 property transactions in Australia and the United States.

Rick specialises in creating positive cash flow through a variety of strategies he perfected in the United States and adapted to Australian conditions. He sells home study courses on vendor finance, one year mentoring program as well as a yearly 3 day boot camp on the Gold Coast. Go to http://www.rickotton.com for more property investing information ring 1800 003 588 in Australia.

More than 40 states signed onto a proposed $25-billion deal with major mortgage servicers over faulty foreclosure practices. New York, Nevada and Delaware joined California in holding out for better terms.

More than 40 states signed onto a proposed $25-billion settlement with major mortgage servicers over faulty foreclosure procedures, but California, New York and other key states were still not among them.

California has until Monday to share in a multi-state deal with banks to obtain mortgage relief and reforms. Atty. Gen. Kamala Harris, who walked away from talks last year, says the door remains open.

With a Monday deadline at hand, California officials have resumed direct talks with the Obama administration about joining a multibillion-dollar, multi-state mortgage settlement with the nation's largest banks, a source said Sunday.

The talk show host pays $12 million for the 4,088-square-foot house with four bedrooms and four bathrooms. The ocean-view home sits on 1.26 bluff-top acres with beach access.

In one of the more talked-about transactions in town, actors Brad Pitt and Angelina Jolie have sold their Malibu beach house to daytime host and comedian Ellen De Generes for $12 million.

The four-bedroom, five-bathroom house built in 1920 for industrialist James Wigmore lists for $2,875,000.

A decorative cast stone entrance opens to this restored Spanish Colonial Revival-style house in Pasadena's South Orange Grove area. Built in 1920 for industrialist James Wigmore, the house retains such original details as coffered wood ceilings and arched doorways.

They don't believe they can sell their property for what it's worth, so they're spending money on making their homes more comfortable.

Do you fit any of these descriptions?

A biennial research report by the National Assn. of Realtors indicates that a handful of real estate agents and brokers and their clients either don't know the law or don't care to follow it.

When it comes to lawsuits, real estate agents and brokers tangle mostly among themselves.

The president aims to help about 3.5 million people with good credit who are unable to refinance at historically low rates because their homes are worth less than their mortgages.

 

The White House hopes to help millions of homeowners lower their monthly mortgage bill with a $5 billion to $10 billion plan to set up a streamlined refinancing program for people who are current on their payments.

The Standard & Poor's/Case-Shiller index of 20 large U.S. cities fell 1.3% in November from October as foreclosures continue to drag down the housing market.

Three straight months of home-price declines in the biggest U.S. cities showed that foreclosures remain a significant drag on a housing market that is entering its fifth year of deterioration.

L.A. Clipper Chris Paul may be quick down the court, but he moves pretty fast when it comes to buying multimillion-dollar real estate too.