Rehabbing Bargain Real Estate
In This Issue
--> Rehabbing with bargain real estate
--> Don't miss the Bank Owned deal like I did
--> Real Estate Investors Association
--> Talk about your plan into Action
--> What's coming in the next issue of the Rehabber News
Rehabbing with Bargain Real Estate
You should have heard by now that everything is a system!
The familiar example is McDonalds and their identical system in every restaurant.
Let's walk through from the beginning to cash in our pockets together.
I've used my system since the first house I bought in 1977.
The fist steps are:
- Your personal financial plan
- Available money to work with (working capitol)
- Line of credit (rehabbing and overhead costs)
- Your available Time commitment
- Finding the deal
- Making the offer
And there's likely 1000's of Bargain Real Estate deals with in a 15 mile radius of where you live.
Preparation is the beginning! No money spent yet!
Proper planning reduces risk and prevents losses!
Review the Beginner Investor for an overview.
How to find investors to raise working capitol is ongoing to keep your rehabbing business going. click here for an overview.
Show Me the Money
Stick to the plan and you will make the money you deserve to enjoy the finer things for yourself and your family. One fixer upper could get you an extra $20,000 and you only need to find one buyer! If you're like me, $20,000 is a nice chunk of extra money!
With the seasoning rules to hold on to a property for 90 days before selling, that gives you ample time to do the work yourself to get the most profit out of each deal.
Take a look at plan your work
Make offers before you're finished with your current house rehab.
3 to 4 bargain real estate deals per year will grow your business quickly to keep the cash coming in.
Plan on buying and holding one free and clear property per year...
... A rental with no mortgage is worth more than 10 financed rental units... And the bargain real estate deals won't be here for ever!
More Preparation... Review the Rehabber Check list whether you're a seasoned professional or just getting started.
Don't Miss Out on The Bank Owned Deal Like I Did!
This is all about making extra money or a lot of money so we can enjoy the nicer things in life, provide a few luxuries for our families, pay for college tuition, add to our retirement savings, and the banks aren't cooperating!
Just because you offer asking price doesn't mean the bank will sell you the house!
Worse yet, negotiating a "great deal" with the bank and offering below listing price just might lose you that, already a bargain real estate - deal.
I'm so angry with myself for getting caught up in the old fashion ways of negotiating!
Get the full story at the Rehabber Blog, click on Bank Owned "Multiple Offers", scroll down to the Bank Owned "Multiple Offers", and see how I lost a great and very profitable deal the Bank listed for sale at 20-cents on the dollar.
And don't tell anyone you know in your area or you'll be out-bid and lose out on the great bargain real estate deals close to your home.
By the way... If you're not getting the current real estate events I'm writing about, and would like to follow along with me on how I'm making money with today's bargain real estate...
Sign up for the RSS feed and you'll get everything I publish quickly to your reader - it's real easy...
RSS stands for Really Simple Syndication.
Click on Ask-The-Rehabber® and go to the bottom of the navigation bar in the left hand column to sign up for RSS.
Click on the question mark next to subscribe for an explanation.
With RSS you'll get the strategies that are working now as I implement them. Follow along and let's make money together.
Real Estate Investors Association
Because it's human nature to talk and discuss our business!
- Real estate investment strategies
- Rehabbing projects
- Marketing strategies
- Homeowner Remodeling projects
... and more.
It's natural to talk about what we are doing and about what we'd like to do!
And... We rarely take any action until we talk it out!
The problem is talking to someone who isn't interested in discussing real estate and or remodeling with your best interests in mind!
My family and friends got tired of listening to me talk about it 25 years ago!
The rules are simple:
- Talk with like-minded individuals
- Help and be helped
I've updated a page about REIA Real Estate Investors Association so you can socialize and network with people like you.
You can't be shy in the real estate investing business, and if you are...
... You’re missing out on a real wealth building advantage for you to make that extra $20,000 on one flip with all the current and available bargain real estate deals out there today!
Here's an Alternative
--> Talk about or rather, write about your plan into Action!
If you have Questions you'd like answers to without going to a REIA meeting click here.
And if you really want to get motivated and get back into the game in the hottest real estate market in our lifetime, share your story and click here.
When you talk (or write) about your plan...
The chances of Success increase 10-fold with the odds that you will likely take action and get to work.
Knowing that like-minding people like you are doing the same thing your are...
gives you the courage to move forward whether this is your first investment property or,
if you've been investing for decades like me.
Talking and writing to real estate investors keeps me motivated and excited, but the real benefits are:
- Huge capitol gain profits
- A career I love without an employer
- The Lifestyle I enjoy that keeps me Happy
- and maybe a little admiration from my peers
... It's all good!
And the Big Question
For those of you familiar with the "Stock Market" terms...
Are we in a "Buy", "Sell", or "Hold" position?
I'm in all 3!
I'm buying - with 4 offers currently on the table.
Selling - Some properties I'll flip
...and Holding some properties for rental.
What's coming in the next and future issues of the Rehabber News?
How-to and step-by-step through the process of:
...and everything in between to help you make the money you deserve;
- The Promissory Note for borrowing money
- What the Banks do with an accepted offer
- Rehabbing with a plan
- Flipping or,
- Holding for rentals
- so you can quit worrying about money,
- enjoy the work that makes you money,
- and makes you and your family happy...
...For very selfish reasons!
Seriously! By helping others, investors, and rehabbers like you,
it's extremely motivating for me to stay active with my investing and remodeling skills.
When you know that...
Working on something that you love to do,
adds longevity and excitement to your life!
...and more money - (of course).
Then it's understandable why 1000s of visitors from 27 Countries this month alone to Ask-The-Rehabber® are getting involved.
For me, having an interesting real estate project, that is profitable and useful work, is living high on top of world!
And sharing it with you is what that win/win formula is all about - what do you think? contact me and let me know.
How can I help you?
As I've said, "helping you helps me stay motivated!"
Let's keep in touch,
keep each other motivated,
and make money on bargain real estate deals for decades to come.
You can contact me with your questions or comments at click here.
Joe the Rehabber
Author and publisher
P.S. A Professional Realtor® can be one of your best assets on your team to find the deals your looking for!
If you don't have one, have a Realtor® give you a call.
It's fast and easy to make a connection with people willing to help you.
Available for U.S.A., Canada, and or Mexico.
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