Dean Graziosi’s Real Estate Investment Academy

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With a high percentage of real estate sales being short sales, real estate investors and their agents need to be well versed on the advantages and talking points for the short sale process. Short sales fit well into the investor’s buy low, sell high mindset but the investor’s position is best protected by employing due diligence.

Let’s face reality. Short sellers are unhappy. The property owner and the lender are both accepting a loss. The owner is selling the property under what was believed to be fair market value and in many cases accepting less than was paid for the property. The lender is agreeing to accept less than the full mortgage amount. Those are the two essential criteria that comprise a short sale.

Prospective purchasers should do their homework. That includes title searches, tax searches and connecting with the lender. Not all mortgage holders will accept short sales because in some circumstances, their position may be better served in foreclosure.

Typically, the seller in a short sale is an unhappy camper. There is usually a troubled employment situation and a certain amount of disenchantment with the financial system. The seller’s credit will suffer and the prospects for a new home are not good. If any other option existed, the property owner has probably exhausted it.

Short sale investors should connect with the mortgage lender. Experienced investors do not discuss the prospects for a short sale with anyone other than the person who is in a position to make a decision. This lender representative can usually indicate the willingness or unwillingness of the lender to negotiate a successful short sale. Investors should not accept generic conversations with the lender’s “troubled real estate” employees. If the quality of your investment and the value of your time are important, go straight to the decision makers.

Financing companies will not discuss short sales with investors who have not transmitted a letter of authorization. If you have a real estate agent that is negotiating for you, draft a letter of authorization naming the agent as a representative. Include your personal information including name, address and contact information and the same information for the agent. Include the loan reference number in the letter. Make sure your agent has a copy of the letter. Congratulations, you have taken an important step in the profitable short sale process.

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A series of factors are contributing to the recent upswing in national real estate sales and rising prices. The National Association of Realtors released the association’s monthly pending sales report stating that for the sixth consecutive month pending home sales have increased. This is the first time such a trend has emerged since the pending home sales index was initiated in 2001.

July pending sales rose 3.2% over pending sales recorded in June. Year-over-year comparisons show a 12.0% increase in July 2009. The current pending home sales reading is 94.6 as compared to the highest rating ever recorded of 100.7 in June 2007. Much of the credit for the recent upsurge is accredited to first homebuyers who are rushing to capitalize on the 2009 first time homebuyers tax credit.

However, as Lawrence Yun, NAR chief economist, reports; “Other buyers are taking advantage of low home values before prices turn higher. Nationally, the typical mortgage payment now takes less than 25 percent of a middle-income family’s monthly income to buy a median priced home, with payment percentages so far in 2009 being the lowest on record dating back to 1970. As long as homebuyers stay within their budget, mortgage payments will be very manageable.”

Yun refers to the fact that home values have decreased and interest rates remain very favorable for purchasers. With an abundance of distressed housing and foreclosed properties on the market, conditions for investors have never been better. Values are low but are beginning to show signs of recovery. It is an excellent time to buy low and sell high.

If Congress follows the NAR’s recommendations and passes the 2010 tax bill suggested by the association, all homebuyers will be eligible for a $15,000 tax credit, a percentage of which can be used toward the down payment. If this bill passes, investors can expect a flurry of buying activity and increasing property values.

With favorable purchasing terms and the prospect for rising demand and values, the time is right for real estate investing. Contact an experienced real estate agent and capitalize on the market trends.

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In today’s real estate market, houses are selling.  It takes some marketing and an understanding of market conditions but it also takes some good old-fashioned ingenuity.  Today’s successful real estate sellers know their market, know their market is on the Internet and deliver an exciting photo shoot to that market.

Sellers today acknowledge the importance of the Internet and embrace the venue as a great way to familiarize buyers with the property before an actual showing.  Buyers who have screened the house have found something they like and have opted to physically inspect the property.  That can only be interpreted as good news.

To maximize your online photography or virtual tour takes a bit of planning.  The process begins by establishing the sale of the property as the family’s common goal.  Every family member must do his or her part.

Prior to listing the home, remove all clutter.  Clean and re-organize closets, basements, garages and attics.  The only items that remain must be absolutely necessary or positively impact the photo-ability of the property.

Never underestimate the importance of the entryways and exits when it comes to real estate.  If you need to dress up the walkway, put fresh plantings in place or repair the doorbell, do not hesitate.  Go for it.  In fact, make sure every light switch, doorknob, faucet and toilet are working well.  Buyers will test everything, including your patience, but that is their job.  Yours is to make it easy for them

Once the house is free of clutter, organized and running efficiently, come up with a lighting plan.  Make sure all family members are familiar with the plan and can activate it for showings.

Before actual videoing or photo shooting the property, do a walk through and try to see what the camera will see.  For most buyers, this photo-op will be their first look at your property.  Give them something to think about.

When the photo shoot is complete, review the results.  If you are not satisfied, re-do the shoot.  It really is that important.  One picture says a thousand words.  Make sure they are the right words and you will be on your way.

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If you are looking for one of the easiest ways to make money in real estate, you have probably considered rehabbing properties. Don’t be fooled however, into thinking that rehabbing will make you an instant millionaire. Despite what you may have been told, rehabbing takes a lot of planning, hard work and money.

There are many pitfalls that would be rehabbers find themselves in from time to time. The key to getting a good start in this business is to know what not to do. Take it from someone who has been there, avoiding these common mistakes can save you a ton of time and money!

Aside from having the mindset that rehabbing is a get rich quick scheme, one of the most common mistakes real estate investors make is failing to do extensive enough research on a property prior to purchase. While research is important no matter what area of real estate you specialize in, it is perhaps most important when it comes to rehabbing junkers. Don’t go into any deal blind, practice due diligence before you make any real estate purchase.

Another big mistake rehabbers make is going into a deal with the mindset that you will be able to do all the work on a rehab property yourself. Quite honestly, it takes more than a handyman to do adequate work on a run down property. If you go into a deal with plans of doing all the work yourself and things don’t pan out, you will find yourself up a creek without a paddle! You must plan for the problems that will inevitably arise!

Most importantly, never and I mean never, get into rehabbing if you cannot afford to hold onto a property. Mark my words, there will be times that you will be unable to sell your rehabbed property and you must be able to financially make it through those times. Create an exit strategy and don’t be afraid to ride the real estate roller coaster.

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If you’re in the real estate market and have a building to sell, making a good first impression is key; taking care of the outside of a building can mean all the difference between a sale and a flop. New siding can be part of making that first impression.

Of the many siding choices on the siding market, steel is not always the first thing that comes to mind when you think of durable, affordable, low-maintenance siding. However, this is one of the top long-standing choices for larger buildings, namely shops and industrial buildings, for a good reason.

Steel isn’t just for industrial-sized structures, and can be made in any number of colors and textures. Seamless steel siding eliminates the unsightly seams that can allow moisture through, significantly diminishing the possibility of rot. The general public is only just beginning to realize all the wonderful benefits steel over the highly publicized and extremely popular vinyl siding.

The durability of steel far outshines that of vinyl if it’s installed properly. While exposed edges or damage to the paint can leave it vulnerable to rust, proper maintenance can prevent that drawback. Where vinyl is prone to damage from high winds and hail, steel can withstand all but the most severe of these elements. Properly-installed steel siding is almost impossible to pry loose in the wind, no matter if it is gale-force, though larger hailstones may be able to dent the siding or scratch the paint.

If you’re environmentally-conscious, ask your contractor if they use recycled steel for their siding. Much of what is sold for siding today is recycled, thus promoting waste reduction as well as purchasing something that can be recycled whenever it is no longer of any use.

Steel isn’t the cheapest option on the market – in fact, it ranks among the most expensive – but it is well worth the money you put into it. It’s low maintenance, and cleaning is as simple as spraying with water from a garden hose. Especially in areas known for inclement weather, steel will withstand whatever nature throws at it for long-lasting protection and beauty.

For real estate owners looking to sell, the type of siding used on the building can be a high selling point.

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Be A Real Estate Millionaire no longer is in the top slot as the best-selling real estate book in America. After having been there for 18 months, another book has taken first place.  What other real estate book could beat out Dean Graziosi? Well that would be another book by Dean Graziosi!

His newest book Profit from Real Estate Right Now! is even better than his previous book, and the proof is on the The New York Times list of best-selling books. Profit from Real Estate Right Now! has surpassed all other real estate books, and it is so successful Graziosi is having to curtail advertising for the book because the demand outweighs supplies. 

Profit from Real Estate Right Now! is a recipe for making money in today’s down market. It IS possible to make money during this recession, and like so many people who have already read the book, you, too, will be fired up after reading it.

Don’t be afraid to try something new because, as Graziosi says, failure only means you are one step closer to getting it right. 

You can get the book here:

http://www.deangraziosi.com

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Whatever happens in Congress, it’s not going to fill up your bank account. If you want to get rid of that knot in the pit of your stomach wondering if you’re going to be able to support your family, do something different. Your life is not going to be different (better) a year from now if you don’t start doing something different now.

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“Wow!” is the only word needed to describe Dean Graziosi’s new book Profit From Real Estate Right Now! According to a post made by a member with the screen name cbrpower on DeanGraziosi.com, he says:

“In my opinion … I have literally read over 200 books in the last 3 years, this is the best real estate book ever written. There isn’t another book out there right now that you can pick and read and go make money in the next 30 days. What makes this book so intense? Details! There isn’t anything that is vague. It is truly the only real, step by step, how to make money right now real estate book.”

Graziosi’s new book is the proven no-money-down system for today’s real estate market. 

To read this blog and buy the book, visit:

http://www.deangraziosi.com/real-estate-forums/everything-else/15721/profit-real-estate-right-now-deans-new-book

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In this first part of a three-part series, the author begins describing how you can make a ’subject to’ offer to leverage the seller’s mortgage for your investment property. As what a ’subject-to’ is, the author describes it as:

“A “subject-to” offer simply means that the buyer is willing to purchase a piece of property “subject-to” some specific circumstance. Usually that circumstance will be the sellers existing mortgage. It can also be a variety of other things.”

There are risks associated with this type of buying, especially to the seller, but under the right circumstances, it can be a win-win situation for both the seller and the buyer. Often, you can put the seller at ease by showing your credentials as an honorable business person and putting limits on how long the ’subject to’ will be in effect.

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