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Tim Randle
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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 …
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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 …
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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 …
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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 …
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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 …
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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 …
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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 …
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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 Research Internet Searches Service Companies Access to MLS Doing Your Own Research Within this category, there are four subcategories. Those are: Courthouse Searches Newspaper Listings Tax Appraisal …
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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 …
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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 …
