Bryan Wittenmyer
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Why Low End Houses Make the Ideal Cash Flow Vehicle
The principles of creating a long-term, on-going cash flow can be applied to most kinds of real estate investments. Mobile home lots, apartments, garage/storage units, and houses all make excellent income producing assets. Houses, in particular, low-end houses, make an excellent vehicle for creating long-term profit-streams for a multitude of reasons.First, houses are abundant. Every city, town, and neighborhood has houses. Houses are probably the easiest to buy because they are the most common. Houses are also probably the easiest to buy at a discount, since there are so many sellers who own them in some sort of crisis ownership…
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Tips For Developing Real Estate Technician Skills
If you’re a serious real estate investor, one of the best things you can do is work towards becoming knowledgeable in what we call Real Estate Technician skills. To review, a real estate technician is someone who understands the legal documents and flow of paperwork that accompanies a real estate transfer, or more technically, a conveyance.There are many types of transfers: Legal title, equitable title, a real estate interest like an option, a leasehold transfer, assignment (transfer) of note or some other contractual interest. A real estate technician also has the knowledge to draft basic real estate documents like deeds,…
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The Salesman Who Doesn’t Believe in His Product
Many years ago I worked for one of those large national real estate brokerage firms selling real estate. This was not my introduction to the real estate business, since I had been investing in buildings and property since 1984. My trainer was an older but highly successful real estate agent. One of the things he shared with me and the other trainee was the fact he had consistently earned over $10,000 per month for the past ten years. He drove a Corvette, was divorced, and owned one property–his residence. If my math is correct, he grossed somewhere in the area…
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The Hidden Secrets of a Real Estate Technician
If you wanted to learn how to prepare a deed, perform a title search, draft a strong option contract, or understand how to fix a bad title, where would you go? It’s hard to answer, because, frankly, this information is tightly controlled by title companies and lawyers. Go into any bookstore and try to find this sort of highly protected information. You won’t find it. Believe it or not, it’s tough to find even in most law libraries.Title companies and lawyers consider this hidden knowledge a major profit center, and they’re not about to share it with you just because…
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The 3 Easiest Ways to Make Money In Real Estate
I once asked my handyman what was the easiest money he had ever made in his life. His answer was that although he had been in many small businesses and had done countless handyman/contracting jobs over the years, the easiest money he made was in roofing. He explained how that roofing work is higher risk work that many folks dislike and fear doing, therefore the mark-up is tremendous.He especially likes smaller flat or semi-pitched roofs. For about $250 in materials he could charge $1,000 for a roof which he could install in a day. Larger, shingled roofs have even better…
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Recycle the Real Estate Oink
The grandparents from my mother’s side of the family had been in the butchering business for over fifty years. As a kid I visited their butcher house with great curiousity. The amazing thing they showed me was how virtually every part of the animal gets processed into some salable product. There’s a saying in the slaughterhouse business–“We use everything but the oink.” I will relate how all of this fits into your real estate business in a moment. Indulge me, please.In the meat processing business every single by-product and meat part gets used (if you are a militant vegetarian stop…
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Myths and Realities of Low Income Housing
Before I explain what I believe are myths about lower-income housing let me first clarify a few important points. First, low-income landlording, or even regular middle-income landlording is not for everyone. I’m not one of these guys who says everyone should be a professional landlord. A good portion of the population just isn’t cut out to be anybody’s landlord, or even in business for that matter. Landlording of any stripe or flavor is not easy. It just isn’t.In addition to that bit of negativity let me add this. Landlording, again any type, is not a rapid one or two year…
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Creative Real Estate Money Making Opportunities
If you have read my articles in the past, you know I am 100% sold on buying and keeping properties as a business, also known as professional landlording. I won’t go over all of the benefits of landlording that have been thoroughly reviewed by others, but I will just say, we landlords don’t know how good we have it.We are in an investment business that requires no formal office or storefront and which, by and large, can be operated with subcontract workers who aren’t employees. These two facts alone are great, great, great! To top it off, we are in…
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Creating Long Term Income
Landlording has become a negative word these days in many chatrooms and investment circles. It seems that landlords are often viewed as dingbats, who enjoy getting abused by tenants for a few lousy bucks at the end of the month. Frankly, I’ve met a few of the above and probably have fit that description on more than one occasion. When done improperly, landlording can be a grind. But let me tell you, there are few opportunities for energetic people that can be as rewarding as Income Stream ManagementTM. Let me offer this first bit of advice. You can use the…
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Creating Additional Income From Real Estate
The beauty of real estate as a field and industry is that there are so many different way to make a living from it. The rental business is a great foundational platform to launch other ancillary services and profit centers. Your existing housing business (rentals) make an excellent platform from which to launch a parallel business opportunity.For instance. Suppose you want to make a go at full-time real estate, but the 10 properties you currently own just aren’t enough to make a full-time go at it. Couldn’t you easily provide your superb services of rental preparation and perhaps maintenance skills…
