Jerry Norton
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Understanding the Notes Investing Business
Recently, a popular a topic of discussion is the real estate notes business, mostly due to my new investing program called “Note Flipper” that teaches how to flip notes. Most people are unfamiliar with the notes business and how to flip notes. In this article I’d like to discuss exactly what the notes business is and how you can flip notes.Let’s start from the beginning…What is a Real Estate Note?When a home purchaser wants to buy a property but doesn’t have the cash, he seeks a loan from a lender. The lender could be a federally regulated bank, a private…
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How to Wholesale a Bad Deal
How do you wholesale a bad deal? The reality is that you can’t really wholesale a bad deal, but it is possible to turn a bad deal into a good one.Let me explain how by using a wholese sale real estate investing deal example that just recently happened to me:I got a deal under contract in Baltimore for $72,000. I thought that I had gotten the property at a pretty good price, so I shopped it out to the buyers that I have in that market for $80,000 (since $72K was my price and I wanted to make $8K by…
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How to Hire A Top-Producing Listing Agent For A Flat Fee
When it comes to fixing and flipping renovated homes or building and selling new homes, maximizing your profit requires that you sell the home for top dollar to a retail buyer. And when it comes to selling homes to retail buyers, no one is better for the job than top producing real estate agents.In this article I’d like to discuss the role of a listing agent in the fix and flip process and how to hire her for a flat fee.Top-Selling Agent: First of all, not all agents are created equally. You want a top-selling agent in your market as…
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How To Estimate Repairs in 15 Minutes
One of my claims to fame is that I can teach you how to estimate the repairs on any house in 15 minutes or less. It’s a bold claim but actually not that hard once you get the basics down…First of all, why is this so critical for real estate investors?Whether you are wholesaling or plan to fix it and flip, you must know the cost of repairs in order to run the numbers and determine the buy formula. Once you know the repair cost (and ARV) you can calculate the buy price and then make an offer.Now, here’s the…
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How to Do Deals with 100% Financing
For most newer real estate entrepreneurs, raising capital seems like a daunting task. They believe it requires a substantial down payment and impeccable credit to qualify for funding on deals. While that can certainly be true with traditional bank financing, there are other forms of capital that are much easier to acquire, assuming certain things align (more on that later).There are plenty of “no-money” strategies for doing deals that don’t require you to have capital or credit. In fact, I have closed serval profitable deals using 100% financing and happy to teach investors how to make money without cash or…
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Flipping Houses 6 Step Formula = $8100 in Less Than 3 Hours
In this real estate investing article I’d like to share how I followed these 6 steps and made $8,100 wholesaling a house in less then 3 hours. Recently a house came on the market for sale in an area I farm for deals. I saw it first thing in the morning at 8:00 am. It was priced at $44,900. Since I knew that area fairly well, it immediately stuck out as being a potential deal.I noticed a comment on the listing that caught my attention – “cash offers only.” I called the listing agent and found out that the property…
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Everything You Need to Know About Using Hard Money
Hard-Money loans are usually short-term and based mostly on the merits of the real estate deal. A hard-money lender looks primarily at the equity position in the deal and not at the borrower’s credibility (credit) like with traditional lending and banks.Hard-money lenders can also be institutions, meaning they broker other people’s money. In this article, I’m going to get super nerdy so get out your calculator!When you are considering presenting a deal to a hard money or private lender for short term financing you should “present” the deal to them highlighting the most important information for them.Key Hard Money Lenders…
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Driving for Dollars Important For Wholesaling Houses
Driving for Dollars is a phrase real estate deal finders or bird dogs use to describe the strategy of driving around in your market looking for off-market opportunities such as boarded homes, tall grass, For Sale By Owner signs, contractors working, etc. Basically, vacant and neglected homes that indicate a possible motivated seller.I want to share with you why driving for dollars is so important with this story about how I made $4000 in about 30 minutes.While driving for dollars, I came across a small, boarded-up house, perhaps 700 sq. feet. I looked through a window and saw the house…
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Creative Financing Strategy – Lease Options Explained
Creative financing is simply structuring seller-financing deals with little to no money down without using traditional bank financing for real estate deals. Lease Option Investing is a creative financing strategy that real estate investors can use. Also referred to as a “Lease-to-Own,” “Rent-to-own” and/or “Lease with Option to Buy.” A lease option consists of two agreements:1. Lease Agreement2. Option to Purchase AgreementThese 2 agreements may be incorporated in one document or two separate documents. In a lease option agreement, the title to the property remains with the landlord until the tenant exercises his or her option and purchases the property.In…
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Best Tips For Determining After Repair Value (ARV)
Becoming an expert at analyzing comps (determining ARV) is the key to being a successful fix and flip investor. Whenever I break into a new area that I want to do deals in, I need to first understand the city or town (local market). To learn the overall market in any particular area, follow these steps:Best Tips For Determining After Repair Value (ARV)Step 1: Look at the recent retail sold comps. Print off a list of retail sold comps from the past 30 days for the whole area.Step 2: Map out and drive-by each comp. As you physically drive the…
