Renttropolis Online Property Management

To one sitting on the outside looking in, it seems flipping houses for a living is nothing more than an illusion. Nothing more than a television show giving you before and after photos of properties that have been renovated.

However, for some, the dream to flip houses full time has become a real life scenario. And to these few, they understand that there’s more to flipping homes than just fixing up the property to resell. For those that are successful, there are three steps to making the business work for you.

1. Finding the leads. Be sure not to confuse leads with deals. Constantly promote your business to get more leads into your funnel. This is where it all starts for real estate investors that want to flip their way to wealth. This involves marketing and constantly being on the lookout for potential properties. And without actively promoting and marketing your business, then you’re going to never get involved. You’re gonna be left sittin’ on the sidelines while the people around you are profiting from red hot, smoking deals every month.

2. Converting the leads. After you’ve mastered the art of generating leads, it’s time to convert the leads into actual deals. First you pre-qualify your seller to make sure they’re motivated, and then you’ve got to listen to your seller’s needs to make an appropriate offer that makes financial sense to you, but also that’s a win for the homeowner. Be sure to collect as much information as possible by phone. This will save you hours upon hours of dealing with people that aren’t motivated sellers.

3. Master the exit strategy. Finally, you’re ready to sell the deal to turn a profit. Although this is the final step; you should have a plan before ever making the offer to your seller. Even though this is the final step, this should be what you think of before ever presenting the offer. Here are some options to consider as your exit strategy:

a. Do you plan to flip the property fast to another investor that will buy the property to fix up, then resell to a homeowner?

b. Do you plan to flip the deal to a landlord/ investor that buys property for the long term?

c. Do you have and established relationship with any other investors that would be interested in the deal?

Your success largely depends on how quick you move the property. Therefore, work to build solid relationships with real estate buyers in your area because these will be reoccurring buyers of your properties. Now, remember, you’ve got to negotiate a good enough deal so that you can leave some money on the table for the investor buying it from you. Investors have different criteria, so it’s best to find out what they’re looking for in advance when attempting to flip a property. For example, you don’t want to show a higher priced home when the investor only buys lower incomer properties. Master these three areas to every property you want to flip and watch your income soar.

About the Author

Derek Pierce is a full time real estate investor and business owner. He got his start investing in real estate when he bought his first property in September of 2000. Now, he reveals the real estate investing secrets he swears by at http://www.thereisecrets.com

Flipping homes can be confusing when you are just starting out. Especially if you are new to the real estate industry. For you newcomers, here are some quick start steps:

1. Prepare yourself mentally. Determine your motivation for wanting to flip homes. Ideally, it should be emotional. For example, “I want to provide for my mom’s retirement”. This may seem silly, but your strong motivation is what will get you through the rough patches and will help you overcome your fears. Always remember your motivation during times of doubt or stress. Sharpen your mental attitude and energy. Believe that you can be successful flipping homes. Have faith that if someone else can do it, you can too. Another seemingly silly step, but if you don’t have this, you will give up when fear raises its ugly head, or when there is real work to be done. You have to believe you can be successful at flipping homes.

2. Begin your education. But, don’t go crazy. Read books focusing on the particular area of flipping you want to focus on. Read articles. The internet is a Catch22. It has an amazing wealth of information, but there is so much; you’ll need to be careful not to get overwhelmed. Read enough so that you are familiar with the process, but realize there are experts that will help you along the way. You don’t need to be the expert, at least not yet. That will come with experience. Just understand and accept that you will need to start before you are 100% comfortable. (This is tough for type-A personalities.)

3. Determine your investing niche. Decide which section of the home flipping market you want to begin with. Pre-foreclosures, bank-owned, HUD? Determine how much money you would need for each type, compared to what you have available or can get. Focus all of your energies on that one type of property. You can branch out later.

4. Find a real estate agent to represent you as buyer. Select one that focuses on the types of properties you want to flip. Speak with several. You will want one that not only understands the needs of investors, but one whose personality that meshes with yours. Be sure they understand your goals. You’ll likely be asking them to make offers that traditional agents may be comfortable with (creative financing, etc.), so this is why you want someone who invests themselves or who routinely works with investors.

5. Get your financial ducks in a row. Check your credit. Do what you can to improve it. Determine the capital you have to invest. Determine potential partners. Determine your funding source. Research potential lenders. Don’t forget Hard Money Lenders. Get pre-qualified from three of these lenders. These steps are biggies, but don’t let them overwhelm you. Take them one at a time and remember your motivation. Don’t forget to set goals.

6. Join a local Real Estate Investors Club. Attend meetings. Being around like-minded people will keep you motivated, not to mention networking opportunities.

7. Attend seminars. These could be real estate seminars, or self-help seminars. They will both build your confidence. Unless you have lots of money to spend on products that are thousands of dollars, go with the intention of being around like-minded people, and learning big picture ideas. Big picture ideas include, “Hmmm, I think I will invest in apartment buildings and I have an idea of where I should start”. Or, “I want to get an idea on how to protect future assets”. Going with the sole intent of benefiting from general knowledge will keep you from spending far too much money and will keep you from getting depressed at not being able to afford these sure thing products.

8. Find your property/ies. Yes, do your due diligence. That means, research area comparables. Visit the property. Have an inspection completed. Determine how much money you’ll need to invest in the property to flip it quickly. Understand the local market so you have a realistic turnaround time. Decide if the property is a good candidate or not.
9. Make an offer by contacting the owner directly when appropriate (pre-foreclosures), the bank or real estate broker. Be prepared with a pre-qual letter and earnest money. This could be a very nominal amount. Do not forget your addendums to the offer that will protect you!!! Negotiate as necessary. Make as many offers as necessary. Remember, it’s a numbers game. Expect many offers to get rejected, that just means it wasn’t the right deal for. Know that the right deal for you will be accepted. Be patient.

10. Close on your property, rehab and flip. Start out flipping one property at a time. With more experience, you’ll be ready to handle multiple properties.

To your success flipping homes!

About the Author
Brenda, the founder of Flip Houses for Millions, is a teacher turned real estate investor. Her goal, as a former teacher, is to empower others to build wealth so they too, can follow their dreams. Visit www.fliphousesformillions.com for free resources on how to find, buy and flip your way to millions. http://www.fliphousesformillions.com

When buying a real estate investment:

1. Check if the seller is motivated to sell the property

In real estate investing, dealing with someone who does not really want to sell their property is a waste of time – you should forget about them and move on, no matter how promising the deal might look like. How to check the seller’s motivation level? It’s relatively simple: try to make an appointment. If he or she puts it off (especially if it happens a few times in a row), there is a 90% chance that the seller is not motivated to sell.

2. Inspect a property before making your first offer

Never, ever make an offer before a close inspection of a property. This will put you on the back foot throughout whole negotiation process! Also, don’t let the seller force you into making your offer RIGHT AFTER the inspection. You will need at least a few hours to prepare your final offer. It’s best to inspect the property and then make an appointment for the following day. Do not make any offers before that time!

3. Prepare more than a single offer

Do not enter negotiations with only a single offer. Even if you don’t have any aces in your sleeve, make sure that you can make at least three offers – and that your final one is still profitable enough to enter the deal!

4. Talk to the seller while leaving

If you and the seller can’t reach an agreement, try this simple trick: make your final offer standing at the door. First off, this way you give a clear sign that the seller can’t hope for a better deal. Then, this puts the seller on notice that you are about to walk away from the deal – he or she may not like your offer, but there is no guarantee that the next real estate investor will give the seller better terms. This can often make the seller more receptive and accept your proposition.

Selling your investment property:

1. Be sure that you really want to sell the property

Before you tell anyone that your property is on sale, think if it is really the case. If you deeply hate the idea of selling the property, it is generally a good idea to try to keep it. Every real estate deal has pluses and minuses. If you sell, you get instant cash profits, but sacrifice long term capital growth. If you decide to hold, the opposite applies.

2. Be reasonable

When it comes to negotiations, don’t be ridiculous – you can demand high prices, but make sure that they are reasonable (certainly not twice the average). You will only be left with an overpriced property that will be difficult to sell. Moreover, making such high offers may cause some real estate investors to back out from the negotiations. You usually can hope for more than the buyer’s first offer though, so it is always worth to haggle a little.

3. Read through all the clauses and contingencies before signing anything

There’s an old saying: “The devil’s in the details”. Nowhere is it truer than in real estate deals. Before you sign anything, read the contract (especially the small print). Such things as being held responsible for making all necessary repairs requested by the buyer or agreeing for waiting six or seven months for the money may spoil even the best-looking deal.

4. “There’s always another buyer around the corner”

If the purchaser does not seem to be able to meet your price expectations or offers you terms you cannot really accept, don’t waste your time. There is always another purchaser around the corner – and even if there won’t be anyone else, you can always call the buyer later, can’t you?

About the Author
Discover exactly how Sal combined two of the easiest (yet brutally powerful) Real estate investing strategies and made an insane $31,510 Profit In Just 49 Days…And How You Can Do The Same!”. Visit http://www.FixerUpperFortunes.com

Last in a three part series, I’ll share some interesting insight from various publications, experience, and trends in our local Chicagoland residential real estate market.

“As is” in home sale marketing. Anything went in the boom market, but if you’re planning to use “as is” in 2007, forget it. Buyers see “As Is” as a red flag about the home and the seller. With all the competition from existing and new housing, an “As Is” will chase the buyers away.

Buyer incentives. Free cars don’t sell houses, realistic pricing does. Gimmicks only confuse and distract buyers. Cut to the chase and deduct the cost of your free-with-purchase from your current price and send the signal to buyers that you’re selling real property, not personal property.

Endless Open Houses. The open house pendulum has swung from “the house sold in the first day” to “we need to have our house open every Sunday”. Desperation is when your home is open every Sunday, and don’t think buyers don’t know this and keep track. Plan on every three weeks if you must have a public open house.

Over-full-price offers. It was a strategy in the boom market to under-price a home and let the market set the selling price. Not today! One thing that won’t change in 2007 is that every buyer will want a deal, and you had better be prepared for them to walk if they don’t get one.

Bedrooms not large enough for a bed. In the boom, rehabbers and developers learned the fastest way to profit was to increase the room count of an existing home. Bedrooms shrunk to walk-in closet size when a four-room, one-bedroom was gut-rehabbed into a four-room, two-bedroom. Or, the doorways and windows eliminate required wall space. Savvy agents kept asking, can you fit a queen-size bed in either room? And the answer was usually, no. Loads of glass upper kitchen cabinet doors. Buyers say it looks great, but many who specified and experienced it firsthand don’t have the time to keep their kitchen cabinets organized. Plus, if you hate washing the windows, having more glass in a greasy room like a kitchen is high-maintenance.

Bowl-shaped above-counter bathroom sinks. The splashing and overall upkeep have earned these the reputation of nice to look at, but, “no thanks, don’t want one.”

Any shiny metal finish. Brushed nickels and pewters are in and antiqued and polished brass is out.

Stainless-steel refrigerators and dishwashers are a fading trend. The cold look and higher maintenance of steel is shifting buyers to specify warmer colors in kitchen appliances.

Spiral staircases. Once the rage for mid-seventies makeovers, these are now death to a home seller. The boomers have aged, their kids don’t like them, they’re unfriendly to pets and a danger to young children and elderly parents. Take yours out and put in a standard staircase (inside or out) before you sell.

Bamboo floors. The first reviews are in on this popular eco-friendly flooring, and they’re not pretty. Complaints range from easily dented and scratched to prone to warping from variations in our climate and humidity levels.

Hardwood laminate floors. These noisy, poor relatives of solid hardwood simply don’t stand up to multiple sandings to remove stains or change colors.

Home sellers who smoke in their home while it’s on the market. Buyers HATE second-hand and stale smoke odors. Marketing your home is not the same as living in it. If you have to smoke, go outside. Clean the smoke smell from the house, carpet, window treatments, etc.

About the Author
Kris Kombrink has been working in his family-owned real estate business since 1995. Specializing in Geneva, St Charles and Batavia Illinois residential real estate his team stays on top of the latest trends while maintaining superior customer. Learn more about his team at http://www.kombrink.com or email kris@kombrink.com

Second in a three part series, I’ll share some interesting insight from various publications, experience, and trends in our local Chicagoland residential real estate market.

Upscale Garages.
The garage is no longer the “out-of-sight, out-of-mind” dumping ground. Today’s garage owners want them decked out with cabinet and storage systems, mini-refrigerators, insulation, heating and air conditioning and durable, residential-looking flooring.

Caving.“Man Caves” and “Mom Caves” are coming out of the closet. Personal, dedicated space where one can work on projects or relax without being disturbed are in huge demand!

Two home offices.
Rising gas prices and commuting times have created more “two-work-at-home” families. Size matters and each home office should be at least ten-by-ten feet.

Rejuvenation rooms.
Luxury is key here with a one-stop space for exercising, meditation, yoga, sauna and fancy steam showers. Showers are going upscale, too, with waterfall fixtures and programmable temperature and water flow.

Heated patios, walkways and driveways.
Northern baby-boomers are tired of shoveling and want to decrease winter maintenance; plus, many have discovered that heating the patio adds extra enjoyment in spring and fall.

Modular housing.
Many think of the out-dated double-wide as the typical modular, but modular (panelized) options and quality have exploded from the top end 11,000 square foot home, with every whistle and bell and complex finishing details, to the bread and butter 1200 square foot starter home. Low-cost, factory-built construction and quick conception to foundation times make this the affordable wave of the future.

Sustainable design.
Sustainable design is based on three areas: energy conservation, indoor air quality, and resource conservation. Viewed as new age in construction circles, sustainable design looks at homes holistically, maximizing natural forms of energy, such as wind, solar, and geo-thermal, if available, on-site.

Structured wiring.
Right up there with all the buzz about green homes is structured wiring, now entering the main stream must-have for technology-based home buyers. Coaxial TV cable (RG-6), Category 5E voice and data lines, distributed radio, remote camera security are wired throughout a home into multi-outlet boxes called home network centers.

Mixing finishes on kitchen base and wall cabinets.
Matchy-matchy is out in kitchen design. The new look is to have stained-wood bases and painted wood upper cabinets. The “old-Europe-look” rules, but people still want today’s modern appliances.

In part three of this series we’ll discuss what’s out in today’s real estate market.

About the Author
Kris Kombrink has been working in his family-owned real estate business since 1995. Specializing in Geneva, St Charles and Batavia Illinois residential real estate his team stays on top of the latest trends while maintaining superior customer. Learn more about his team at http://www.kombrink.com or email kris@kombrink.com

2007 Housing Trends: Part One – The Market

First in a three part series, I’ll share some interesting insight from various publications, experience, and trends in our local Chicagoland residential real estate market.

Market timing. Many buyers and sellers on their own timelines in 2006 missed opportunities by not recognizing the ebb and flow of the real estate market. Spring is a high market with the most demand by the largest number of buyers. Summer is a good market, fall is fair, and winter is the remnant market with left-over buyers and sellers from the high, good, and fair markets.

Savvy buyers. With interest rates historically low and pent-up demand from a soft year in 2006, the deals and lack of frenzy won’t last long. “Deferred demand” from 2006 could ignite a mini-frenzy in some markets.

First-time home buyers. High home prices have driven many first-time home buyers out of the market; but falling prices in many areas are bringing these buyers back.

Homes that are priced right. It isn’t the boom market of 2005, as evidenced by the sold comparables from the last six months. Forget cocktail party chit-chat when all you heard was record prices and the shortest market times in U.S. real estate history.

Borrowing costs. Julie Haviv, Reuters, reported last week in USA Today that “Borrowing costs on 30-year fixed-rate mortgages, excluding fees, averaged 5.98%, down 0.15 percentage point from the previous week, lowest since the week ended Oct. 7, 2005, when it stood at the same level. Interest rates were also below year-ago levels of 6.32%.”

Better situation for Buyers. In the same article, she quoted Dean Maki, chief US economist at Barclays Capital in New York. “The decline in mortgage rates and the slowing in home price appreciation, along with the build-up in inventories, have led to a much better situation for home buyers through increased affordability as well as more inventory to choose from,” he said. “Households are saying on surveys that home buying conditions have improved notably, and that has coincided with the stabilization in home sales.”

Baby Boomers. Keep your eye on the “baby boomer” group, too, as they begin to downsize, creating another boost in home sales soon!

In parts two and three of this series we’ll discuss what’s in and what’s out in today’s real estate market.

About the Author
Kris Kombrink has been working in his family-owned real estate business since 1995. Specializing in Geneva, St Charles and Batavia Illinois residential real estate his team stays on top of the latest trends while maintaining superior customer. Learn more about his team at http://www.kombrink.com or email kris@kombrink.com

Making Money in Real Estate Investing: How to Calculate Profit

There are many things that can affect your profit margin when investing in real estate. Being knowledgeable about all aspects of making money in real estate and learning to recognize all of the costs that you could incur with any given real estate investment will help you to choose good investment properties and avoid those that are more trouble than they are worth.

By now you probably already know how to calculate how much gross profit a property can potentially earn. To do this all you have to do is take the market value of the home and subtract your purchase price to see how much profit the property could potentially make you. But this is only a skeleton glimpse into the potential of the property, making money in real estate requires that you know every hidden cost, no matter how small, that could reduce your profit margin.

Some of the most obvious costs to flipping a property and making money in real estate include any repairs and remodeling that need done to the house before you can resell it. Make sure that you account for every repair. Get estimates and price supplies. Don’t guess. Attention to detail will make it more likely that you will be to stay on budget during the construction phase of your project. Oh, and don’t forget about building permit fees.

You will also need to account for any liens that you will inherit with the property. Liens can include arrearages in property taxes or any other bill that has been attached to the property for collection purposes. Being able to find these hidden costs is key to making money in real estate.

Carrying costs will also need to be subtracted from the gross profit potential of the investment. These include any taxes, loan payments, interest payments, and insurance costs that you will have to pay while you own the property. These costs will continue to mount as long as you hold the property. That is why it is very important to move a property quickly when making money in real estate.

You will also need to take into account inspection fees, brokerage commissions, legal fees, and advertising costs that you will have to cover when it comes time to sell the property. Include everything that you can think of. This will help you avoid any hidden costs and give you a clearer picture of what you stand to earn on each and every property investment that you make.

About the Author
About the Author: Chris Thomas is a real estate investor and author of the best selling ebook “Dominate Preforeclosures,” which teaches you how to acquire property in pre-foreclosure with a successful, proven way to approach homeowners and get the deal. Learn the strategies that the top investors use daily, but refuse to share by visiting http://www.dominatepreforeclosures.com.

Real Estate and How To Buy Property Privately

As with selling privately, buying privately has many positive aspects, such as perhaps being able to negotiate a better deal, as the seller will be saving thousands on agents fees. You may also be able to negotiate a settlement that will suit both you and the seller, as you’ll be dealing directly with each other.

When buying privately, it is good to have a plan from the outset to get your desired result. The steps below will give you a good idea about how to go about buying your dream home privately…………

Step 1. Determine your price bracket

This may seem like stating the obvious, however you’d be surprised by how many people end up with mortgages beyond their means, as they bought on impulse. Before you begin looking for houses, it is a good idea to determine how much money you can spend on your new house. This will be made up of how much you can afford to repay, and how much you can borrow. Use one of the many mortgage calculators on the net to see how much your repayments will be for different loan amounts. You should not borrow to your absolute limit, taking into account such things interest rate rises, and things such as unexpected unemployment. Once you determine, what you can afford to spend, and what you can afford to borrow, head to the bank manager

Step 2. Organise you finance

This also seems obvious, but you don’t want to get gazumped on your dream house due to not having the funds available.

Have a visit with your bank/building society manager to get pre-approved for the loan amount you desire. This meeting will also be a good to chance to quiz your bank manager on whether you will be able to easily service your loan.

Step 3. Determine the area you want to buy in

You may well and truly know where you want to live, however it is a good idea to drive around all the areas that you are considering to get a feel for them. It’s a good idea to drive around on different days and different times, to get a good feel for the local weather conditions (such as prevailing winds) and also traffic etc.

During these ‘drive around’s’ you may also find some lovely areas you didn’t know existed and suit you down to the ground.

If you are considering moving further afield, you can search the internet for properties for sale and then research those areas further. Dont forget to check private sale websites..!

Step 4. Search for houses for sale in your chosen area(s)

Now as the majority of people do these days, you should start your search using the internet.

If you can’t find the house you are looking for, you can sign up for a free ‘notify me’ service which will send you an email letting you know that a property matching the desired criteria you specified has been listed on a website. Most good websites have these available free.

If these searches prove fruitless, the next step is to drive around your chosen area(s) and look for ‘for sale signs’.

Step 5. Arrange an inspection with owners

Once you have found a property in your chosen area you should contact them to arrange an inspection.

Before the inspection you should make a checklist with all the items that you desire in a house, as we’ve all done an inspection and then thought, did the house have this and that? You should take the checklist with you, ticking items off as you go. You should also have some room to note down points as you walk through.

You should also have a list of questions to ask the owners, things such as:

Cost of rates
Local council area
Schools nearby
Shops and services nearby
Recent repairs/extensions completed
Land dimensions
House dimensions
And any other pertinent questions that you can think of.

Remember, this is not a daunting experience, the owners will be happy to show you through their house, and answer any questions you may have.

Step 6. Organise an independent evaluation (if desired)

This step is not taken by many people, but may be useful if you are not confident that you can judge the market, and the value of the house you are looking to buy.

If you would like to get an evaluation done, employ the services of an independent property evaluation company (not through a real estate agent)

This service will cost you a couple of hundred dollars but may prove useful

Step 7. Organise a pest and building report

This may of already of been done by the owner of the property for the purpose of the sale, however if it hasn’t it is imperative that you have one conducted.

This will determie if there are any structural of pest problems with the property you are proposing to buy. If there are the owner may have these repaired before the sale goes through, or you may wish to negotiate a different sale price taking the problems into account.

Whatever the case, it is important to identify any potential problems before the sale occurs.

Step 8. Negotiate the sale price and terms

As I have stated negotiating a sale isn’t something to be afraid of. At the end of the process, both parties have the opportunity to have the price and settlement terms they desire, and you can all have a glass of champagne at the end and celebrate a job well done.

From a buyer’s perspective, it is important to keep your budget in mind, and remind yourself how much you can spend. If the seller isn’t willing to drop his/her price to meet your maximum figure, then perhaps it isn’t the property for you. However, remember that the seller will be saving thousands in agent’s fees by using the for sale by owner method, so they may be willing to sell a little below market value. They may also be willing to drop their price a little if you are able to accommodate their settlement wishes (a long or perhaps short settlement period for example).

Once you have come to an agreement, it is over to the solicitor/conveyancer to complete the contracts. And now you can crack out the bubbly, and let the owner tell you all the little good points about the house, you will only get by using the personal approach.

Real Estate Investment Tips That Really Work by Marc Heller

What makes a real estate deal, a deal? Well there are many reasons why, but one of the most significant sources of great real estate deals has nothing to do with the real estate itself. Sure…there are rundown homes that are selling for pennies on the dollar, but its selling for pennies on the dollar for obvious reasons!

Where the hidden “gems” are found is within the people who own the home. It’s actually the situations that they are in, such as foreclosure, divorce or maybe a death in the family that present the opportunity. It’s the situation that gives the real estate investor a chance to get the property cheaper than it’s actually worth. Why are these situations so valuable? They present a possible problem to the current owner, where they may need to sell the property very quickly and at a price more favorable to the buyer, namely you!

The urgency to solve their existing problem gives you a chance to be a problem solver. This generally creates an opportunity if you know how to solve problems.

Uncovering The Hidden Gems! ======================

Since the majority of the time, “distressed sellers” aren’t in plain view, we have to search for places that will provide us the information that will gives us hints as to their possible situation. These “hints” of information can be found at your local County Recorder’s office.

The County Recorder’s office has a myriad of information that can lead you to where the deals are. Here’s some of the examples of listings that you may investigate through public records and some other tips that don’t require research via public records:

1) Notice Of Default – this is a notice that the bank sends out to the borrower notifying them that they are delinquent on their mortgage payment. This information is readily available as it is public record. Ask your County Recorder clerk to assist you on finding this valuable information.

2) Notice To Condemn – this is a notice that is sent out to the homeowner notifying them that all or a portion of their property doesn’t meet building or zoning code for that particular county. The homeowner has a certain time frame to fix it, or the County will force the owners out and condemn the property. You don’t want to deal to much with the major fixer upper type, but sometimes people put on add-ons to their homes, without hiring a contractor to do the work. The results are sometimes not up to building code, which if not fixed within a certain time frame, can lead to the County to condemn it.

3) Notice Of Divorce – this is a preliminary filing to an inevitable divorce. Usually before the actual divorce, there is a hearing, and that hearing produces a formal date in which a divorce will be finalized.

4) Delinquent Property Taxes – these are self explanatory, however there are certain laws on how the State proceeds on recouping property taxes. You would do best to talk to an attorney about the process in your State.

5) Pending probate court cases where the beneficiaries live out of State. These cases are assigned to an “executor” to liquidate the assets for the beneficiaries. They can be a relative or possibly an attorney. You would simply contact the executor to see what price range the beneficiaries are asking for. Most times, the beneficiaries want to sell fast, because they have no interest in handling the affairs in a different State or they don’t have the time to.

6) Out of State owners can usually qualify as a possible lead to a good deal. The property or situation though, has to dictate the reason as to why these owners would be motivated.

7) Rental houses – the idea behind rentals is that some rentals are on the market, because owners may have tried to sell in the past with no success, and are no stuck with a property that they really don’t want. A good indicator you might want to look for, are houses that may have uncut trees or grass within the front yard. Broken window or graffiti may also be a good indication of an unwanted property. These are all things that are cosmetic, and can be fixed up with a clean up crew.

For Sale By Owner – some of these homes may not have enough equity to pay a realtor. These are prime candidates for a subject to type deal.

When doing any of these deals, you should always let the seller talk more, while you listen to their situation. People who are in difficulties tend to talk about their problems to make them feel better.

If they don’t like to talk much, ask pertain questions as to why the house is selling or how quickly do you need to sell the house. By understanding their situation, you can better understand how you make an offer on the property. As a real estate investor, you are always looking for a reason to give you, the real estate investor, a benefit in the deal.

Here’s some of those benefits you are looking for:

1) Lower price offering.

2) Subject to deals (see my other article on this topic).

3) Flexible pay plan or price offering.

4) Low to no downpayment required.

The main theme in these techniques, are two fold: getting a good deal for you the investor, and picking up the property before it becomes known to everyone else!

Another good idea is to have a handyman check the property to ensure that it is in good condition and if repairs are necessary, to get an estimate on the cost. This combined with the seller’s situation, gives you a better idea on what your offer is going to look like.

Use these proven techniques and grab some good real estate! These ideas will help you cash in on the real estate market.

Roof Repair Tips: Taking Control of Your Roofing Job by Alby Fernsworth

You may think you can repair your roof by yourself and save tons of money in the process. Think again. This may not be a wise decision. Instead you should hire a professional roofer to do the job. You must be careful when selecting a roofer as there are stories of contractors that scam people out of their money. They either never finish the job or take the money upfront and disappear. Or they finish the job, but had shoddy craftsmanship. Therefore, it is vital to find a roofer that is reputable and allows you to have control over the roofing job.

The first thing is to verify that the person you will hire is a certified professional. They will be taking a large chunk out of your bank account so you need to do a thorough background check. Ask for references and contact those references. A professional will easily give you a list of references and will most likely volunteer this information upfront. If certification is a requirement in your state then ask to see their certification card.

Strive to track down a roofing service that has a good history in your area. Look for their advertisement in the yellow pages. What is their tax ID number? Ask for a list of vendors and credit references. If they are unwillingly to supply any of this information then think twice before hiring them.

Take note of the equipment they use on roofing jobs. What is the status of equipment? Is it old? Do they have a great amount of equipment in their truck? Check to see if their truck has their company name or logo on it. If it does note the professional appearance of it. Do they employ the use of air nailers and other modern tools? If their equipment looks like it’s deteriorating, beware. They may not necessarily be out to scam you, but the odds are leaning in that favor.

A major factor to consider when hiring a roofing contractor is to determine the level of skill their crew demonstrates. Does the contract employ full time skilled roof mechanics or are they using temporary employees and day laborers? The competence level of the crew is much lower if it consists of day laborers. You want a roofing company that has qualified roofing mechanics. Demand that the team consists of only qualified roofers. If they give you any hassle about this do not hire them.

Has the roofer told you what type of materials they are going to use when working on your roof? Be sure that they don’t dump cheap materials on you. This can happen easily because there are several different grades of shingles and plywood. If you end up with cheap materials you will no doubt have to make repairs in the next year or two. Therefore, you need to specificy the brands and types of materials you want them to use.

It is tempting to hire the lowest bid, but the lowest bid hardly ever means the best deal. Often times roofers that do not have experience or people that are going to take your money and run give low bid estimates. Remember you can’t get something for nothing. Look for competitive bids that are within 10% of each other.

Finally, get everything in writing and do not sign a thing until you understand every aspect of the contract. Reputable contractors will offer service after the sale in order to safeguard their reputation and maintain high customer satisfaction and loyalty. Whatever you do, never engage in a high dollar business transaction without a contract! By taking these and the other precautions mentioned above, you can take control of your roofing job and make sure that you are getting the best service for your money.

About the author: Alby Fernsworth is the proprietor of Ferns Roofing, a fantastic website to visit if you’re looking for accurate up to date advice and discussion about Roofing. For further information on Roofing please visit: http://www.fernsroofing.com/articles