Ken Meyer
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The 3 Best (Free) Tools You Should Be Using To Find Properties
Searching for a real estate investing deal used to consist of driving around certain areas you have enjoyed or communicating directly with real estate agents and having them decide which homes best fits your needs. Today, you have multiple resources available to you that will leave the power for deciding in your hands, as you sift through the various properties available on the internet.While finding the correct property may involve hours of researching a multitude of factors, there are many tools that are free for you to use in order to save you time and money. In order to hone your…
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Real Estate Contracts – 4 Common Items You Can Negotiate
“When you’re buying investment property, especially property you want to fix and flip or fix up and rent out, you want to be sure that you’re getting the best deal possible. As you sit down to negotiate before writing up that important contract, there are several points to consider–and it’s not just about the final price of the property.All of these contract details are open to negotiation when you’re putting together a real estate deal.” I wanted to share the most common 4 negotiable closing items that my colleague, Ken, wrote about over at Trust Deed with you REIClub.com investors. Here they…
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Major Mistakes Long Term Real Estate Investors Make
Real estate has long been one of the great wealth creation vehicles in the U.S. Despite the seemingly endless success stories, real estate investing is not a simple get rich scheme. It’s a risky endeavor that has the potential to make, or break, an investor. It requires many hours of research, planning, negotiations and physical effort. Even the most seasoned investor makes mistakes, and sometimes they’re costly. In fact, there are two common mistakes experienced, and novice, investors make. Avoid them and you’ll have a better chance of succeeding in the real estate investment arena.Miscalculating Capital NeedsThere are certain capital…
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5 Things You Learn By Screwing Up a Deal
In many cases, you’ll learn some of your most important lessons in real estate, not through your successful deals, but through the moments when you mess up. And trust me – we all mess up! Not just the newbies – even experienced investors blunder a few deals.From the lessons you learn as you make mistakes to the lessons you can learn to avoid, check out these things you learn by screwing up a deal.Lesson #1: How Much Can You Risk?When you mess up a deal–whether you invested too much money in a property you couldn’t flip for a reasonable amount or…
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Four Tips To Renting A Property Without A Property Manager
Owning an investment real estate property can be a great investment option as it will help you to earn interim cash flow and long-term equity through value appreciation. In order to maximize your return on investment, it is very important that you are able to keep your property occupied. While many investment property owners choose to hire a property manager to lease the property, the leasing commissions can be very expensive and can cut into cash flow. Fortunately, there are four tips that you can follow to keep your property occupied without the use of a property manager.Know the MarketWhen…
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Savvy Real Estate Investing: 3 Mistakes To Avoid In Rehab Flipping
With property values on the rise nationwide, this is an excellent time to be in the real estate market. There are large numbers of distressed properties available with great potential for profit.Buying, renovating and flipping properties is a lucrative approach to real estate, as long as the investor avoids three common mistakes.Picking The Wrong PropertyEven in a strong market, choosing the wrong property can result in little or no profit. Smart investors do their due diligence, in order to correctly predict where and when to buy a property and know how much to pay for it. Investors who fail to do this have…
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Should You Be Renting Your Investment Property On AirBNB?
Traditionally, those that have purchased investment real estate have done very well with their investments when rented out for cashflow. While property values and rental rates continue to rise, there are now other ways to make money with your property. One great option to consider would be to use your investment property and rent it out on AirBNB.Short Term Rental – Higher RatesOne reason why you should consider renting your apartment out on AirBNB is that you will receive higher rental rates. While monthly rental rates are very higher on average nationwide, the rate per day with an AirBNB rental will be…
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Quickly Estimate a Property’s Value Potential
When making investment decisions in the ever-evolving world of real estate, there is much to be considered. Common pitfalls must be avoided to ensure a successful investment. One of the mistakes that property owners and investors often make is over-investing in their property. Initially it seems reasonable to expect that investing money into additions and upgrades to your property will make it more marketable and yield a considerable profit, but this is not always the case. If you are looking at purchasing a property to renovate, re-sell, or convert to a rental, it is important to know up front just how much value you can…
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Six Keys When Searching for a Hard Money Lender
You’ve found the perfect distressed property to fix and flip. You’ve done your due diligence. The price is right. The rehab is doable and can be done on a timely basis. The profit is just waiting for you.So what’s the holdup? The answer is the financing. Even if you qualify for a bank loan, no bank will loan money to rehab a distressed property. You need to find a hard money lender.Do you know how to find the right hard money lenders for your REI team?Although most people who aren’t investors have never heard of hard money lenders, they aren’t…
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3 Hidden Issues Found In Distressed Property For Purchase
If you’ve ever bought a distressed property or really any property for that matter, you probably already know the obvious signs of costly repairs. Sloping floors, water damage in ceilings and old electrical panels are all easy to see problems that might mean big money to fix.But what if you’re walking through a house that doesn’t look that bad? What if it’s ugly and dirty with a few cracked windows and peeling paint but there are no major signs of big glaring problems? Be wary because even houses that look perfect can be deceiving. Here are three hidden issues to look for when…
