Tim Randle

Tim Randle

Tim Randle has been investing in real estate since the early 90’s. He left the corporate life as a CPA and senior financial analyst in 2000 to become a full time real estate investor. In 2002 he launched what would become REIClub.com, an online educational site that teaches others how to invest in real estate. REIClub became his main focus soon after that and he designed his life so that he could work his businesses from home and be very present in his family life. He still invests in real estate and works at making REIClub a valuable resource for investors.

    Tim Randle's Articles

    • Why You Do Not Want To Be A Real Estate Investor

      By most definitions a “real estate investor” is someone who purchases property with the intention of earning money and/or building wealth. On the surface this seems worthwhile to pursue. It may be something to aspire to, but it’s not a career or a business. And that is the inherent misunderstanding.Yes, if you happen to buy right in the right area and ride the wave of appreciation, you can definitely build wealth. However, simply buying a property for a long term hold, while calling yourself a real estate investor and hoping for the best is not a sound strategy.The same holds…

    • Yes, the Seller Can Get a New Loan

      One of the questions I see asked over and over on the REI newsgroups is “Can the seller get another loan?” This is a great question because it so often is one of the objections raised by a seller when a creative offer is being discussed.The short answer is “yes”. Only in rare situations would a seller not be able to qualify for another loan. This, of course, assumes the seller would typically qualify if they were not going to leave their loan behind. Let’s explore explanations that can be used with the seller.Straight RentalIf the seller doesn’t sell the…

    • Why Selling on Lease Options is Glorified Landlording

      I might upset some folks with this one, but that’s okay as I think it’s important to get some of my experiences into the light of day. If you fully believe the hype that you won’t have any landlording responsibilities by selling on a lease option, go ahead and stop here. Or perhaps you should read on as this article is specifically written for you.Let’s review one of the common misconceptions that is thrown around by folks touting the wonders of selling properties on a lease option:You won’t have any repairs or maintenance.True, you can certainly have your documents state…

    • Should I Go or Should I Stay?

      Another question that frequently pops up in conversation and on discussion forums is whether it’s best to just schedule an appointment with the seller and jump in the car or spend more time prequalifying the lead on the phone. Like many real estate investing questions, the right answer is “it depends”.There are a number of factors that can come into play when determining the best course of action. Is the investor new or experienced? What’s the local market like? How much inventory does the investor currently have? Etc., etc.For a brand new investor I would say that the appropriate amount…

    • Negotiating and Sales Skills Are Critical

      When I first started getting active in creative real estate, my skill set at negotiating was very weak. I had done the telemarketing thing for American Express as a financial planner and had studied and learned a few techniques.On the surface one might think that would be a perfect tie-in to talking to sellers about their properties and their financial situation. I can promise you it wasn’t.Yes, I did pick up asking general sales techniques like never asking close-ended (“yes” or “no” answers) questions. Also, it still works to ask multiple choice assumptive questions like “Would Tuesday at 6 p.m.…

    • Lessons Learned During My Rookie Year

      (I posted these comments in 1999 on another real estate site. Many of the points pertain to issues and folks from the other site, and therefore, may not make any sense. Please ignore those points.)I found this site about a year ago when I decided to get serious about getting active with REI. It has been and continues to be my favorite resource. I thought my comments might benefit others just starting out and perhaps the more experienced might chuckle.This list is by no means comprehensive and is not intended to serve as advice. I’m learning as I go and…

    • It’s Still Location, Location, Location

      Contrary to what many creative investing courses may tell you, the old standby “location,location, location” still matters. I’ve seen both courses and speakers attempt to dispel this adage because the technique being promoted miraculously makes physical location a non-issue. I was foolish enough to buy into it. You don’t have to.If you’re wholesaling, does location matter? Certainly. If you’ve spent any time in this area, you quickly realized that some areas are better than others not only for locating deals, but for moving them as well. True, you’re not looking for the end buyer, but what about the rehabber who…

    • How to Get Comps

      There are primarily four ways to get information on comparable sales (comps) when trying to determine the value of a target property. Those four are:Doing Your Own ResearchInternet SearchesService CompaniesAccess to MLSDoing Your Own ResearchWithin this category, there are four subcategories. Those are:Courthouse SearchesNewspaper ListingsTax Appraisal DistrictsMaster the NeighborhoodCourthouse SearchesIf you live in a state that is discloses property sales information, you will have a much easier time than those of us who live in a non-disclosure state, like Texas. My understanding for disclosure states is that information on sales can be found at the courthouse if you’re willing to…

    • How to Choose the Proper Entity for Your Business

      First, let me state that I’m not an attorney and the rest of this article is just based on my experiences so I’d advise you to contact John Hyre at www.realestatetaxlaw.com to get some solid, specific advice on your particular situation. Also, this article is not going to discuss land trusts, which some of you may have just stumbled upon. A land trust is not an entity. Although it is frequently used in conjunction with entities, it is merely a paper device used to shield property ownership from the public. When I first got going, the recurring wisdom was that…

    • How to Automate Your Collections

      Having been a landlord since the early part of 1994, I feel fairly safe in stating I’ve tried almost every imaginable way of collecting monthly payments from my residents. I want to run through some of these methods and let you in on the pros and cons of each technique. I’ll wrap it up by telling you what I do now.Personal CollectionsScheduling appointments to pick up payments was never even a consideration for me as a standard way of doing business. I’m too lazy and I consider it the resident’s responsibility to pay me if they want to stay.The advantage…

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