This Is A Really Amazing Responsibility

Business.

Taking personal responsibility - taking personal responsibility - the best way to ensure your rehab real estate investing success. You need a property, a reputable appraiser and contractor and a funding source to purchase the property. There are a lot of factors that are involved in a successful rehab real estate investing transaction.

Depending on what you plan to do with the property, you may also need a good mortgage broker to refinance you, a motivated REALTOR to sell the property or a good property management company to locate and interview tenants and manage the property for you. - a good real estate investor will make sure that they have all of these components line up. This doesn' t include other possible service providers, such as a surveyor, landscaper or handyman. However, you can' t forget the most important part of the equation - YOU! You would think that it would be. Isn' t this a No - Brainer?

Purchasing an investment property is serious business. - they assume that, because they are surrounded by professionals, that they do not have to concern themselves with the details. However, many real estate investors actually abdicate responsibility to everyone else who is involved in the process. Nothing could be further from the truth. This is why we did it. As creators of the Ultimate TurnKey Real Estate Investing System, we know first hand the value of setting up a system.

If you have ever spoken with us in person, you will know that we created the system to make real estate investing an easier process for other real estate investors. - so, we put together a team to help ensure our clients' success. We didn' t see any point in other real estate investors having to re - invent the wheel, and start from scratch. Again, if you have spoken with us, you know the story. We have talked to other wholesalers who have experienced the same phenomena. The System was created as a support for real estate investors, not as a replacement for their active involvement in their own transactions.

The funny thing is, they do not even offer the support system that we do, but they have run into several clients who want to push responsibility back onto them. - simply put, it is your responsibility. Whose Responsibility is it Anyway? Probably 99% of investment properties are sold AS - IS and earnest money deposits are non - refundable. This differs greatly from transactions where you are buying a house to live in yourself. This means that, if something is wrong with the house, it is the, or needs fixing responsibility of you, not the seller, the buyer. Those types of homes are typically not fixer - uppers.

Of course, the fact that the property needs repairs is what makes it a good candidate in the first place. - if they are, they are probably sold as is, and you are going to get the house for a lot less than you would if it did not need fix up. Remember, your best investment properties are ones that need repairs. The key here is to know all of this when you go into the purchase. So, you should go into the project with the mindset that you will be painting, fixing drywall, replacing carpet, and possibly even adding on bathrooms or replacing kitchens. This is your responsibility. You might be a new investor who has no idea what repairs would even be involved.

So, how can you do this? - or, maybe you don' t have time to get that involved. This is not because anyone is going to try to take advantage of you, but because you need to have your knowledge base intact before going into your endeavor. We would suggest that you take the time to find out, and you educate yourself where needed. If you still feel like you don' t know enough, or you are still too busy, you are probably correct. Make sure that you walk through the house or see interior photos. However, if you are ready to get started, make sure that you have a quote on hand from a licensed contractor and see what repairs they are going to do.

This way, you will know if there is something else that you think should be done or that you just want to do. - if you wait, any increase in repair funds will have to come from your pocket, because they will not have been escrowed in the beginning. This way, you can have the bid adjusted before you begin the process. What Else Do I Need to Know? Of course, some things will have greater bearing on your success than others. You really need to be involved in every aspect of your transaction.

You definitely need to know how your up - front financing works. - but, depending on the lender, the programs vary. The vast majority of rehab real estate investors use private funds or hard money to purchase their property. Make sure that you know your interest rate. Are there any pre - payment penalties? What is the term of the loan? Do you have to make mortgage payments during the life of the loan?

These are questions that you need to know the answers to. - if so, how much are they? A reputable lender will go over all of this information with you. You also need to make sure that you remember what you agreed to. However, it is your responsibility to make sure that they do. You shouldn' t allow yourself to be surprised later by something that was explained to you at the outset. Why?

Something else that we recommend is that, if you plan to refinance your property, that you get qualified for your refinance at the same time that you get qualified for your purchase loan. - because you want to make sure that you will be able to refinance and get out of your loan. You also need to make sure that you stay in touch with your mortgage broker throughout the process. Remember, if your goal is to do a cash - out, you need to make sure you will be able to do so. This way, you will know, if anything changes about it right away. There may be a new program that comes out that is more advantageous for you, or the program that you may have thought you were using may no longer be available. For example, you can make sure that you know what programs that your mortgage broker has, and what you qualify for.

Either way, you need to be informed of all of your options. - the changes may not affect your ability to close on your refinance, but they may. By the same token, if anything changes about your financial or employment situation, you need to let your mortgage broker know as soon as possible. You may have to pursue a different strategy, and it is good to know this in advance, rather than at the last minute. Yes, it does make sense to be informed when you are purchasing an investment property( or any major purchase) . This Actually Makes Sense. But remember, you should be proactive, as well as informed.

In fact, we welcome this. - legitimate businesspeople will not have a problem with you asking questions or being involved. It shows that you are concerned, involved and take responsibility. But, if you remain involved, there are few surprises and you are well equipped to handle anything that does come up. While everyone involved in the process does what they can to ensure that everything runs smoothly, this is not guaranteed. Because, at the end of the day, this is your property. Overcoming F.

Most of us have heard what this acronym stands for: F - False E - Evidence A - Appearing R - Real. - a lot of us don' t realize how this can truly impact our life. This simply means that you believe that something good will happen. In real estate investing, as in any venture in your life, you will have to step out on faith. That you will be able to make it work. This doesn' t mean that you go off half - cocked, but that you prepare yourself and know that you will be able to deal with the unknown. Stepping out on faith means that you believe in yourself.

This can be a scary thing. - in fact, we often talk ourselves out of doing something, rather than into it. Stepping out on faith is not something that many of us are comfortable with. Then, there are all the well - intentioned naysayers in our lives. They mean well, but they can make you miss out on your dreams. They take their fears and put them onto us. They would never have the guts to go out and do something like this, and they can' t see you doing it either.

They probably think that they are protecting you. - they don' t see themselves as snatching your dream away. But many times, snatch away your dreams is exactly what they do. It is perfectly normal. It is okay to be afraid when you are starting something new. The important thing to remember is that you can' t let that fear stop you. Fear will make you feel a little on edge.

You can use it as a tool to make sure you are prepared. - use that extra energy to make sure that you have all of your decks in a row. Use the fear, don' t let it paralyze you. Make sure that you are as prepared as you can be. Educate yourself. Find a mentor. Get coaching.

Do what you can to prepare yourself. - you will have to step out on faith. But remember, you will have, at some point to stop preparing and do something. That is a good thing. Things probably won' t work out exactly liked you planned. It allows you to test yourself and the courage of your convictions. And that is okay too.

We see things in a different light. - it is when we are dealing with challenges that we learn new ways of doing things. In fact, we see ourselves in a different light. You won' t know what you can truly accomplish until you push yourself. You might not know how strong you really are until you put yourself out there. So remember, it is okay to be afraid. Instead, step out on faith.

Fear can' t hurt you, unless you let it stop you. - remember, faith can move mountains. You don' t have to have a huge budget to start a marketing plan. Marketing for Real Estate Investors: 4 Marketing Tips to Put Your Real Estate Business on Steroids Many real estate investors simply do not pay enough attention to their marketing. But if you don' t market, it will definitely cost you money. And, it' s very easy and cost effective.

Here Are My Top 4 Marketing Strategies to Create 6 - Figure Income Real Estate Investing Businesses in 6 Months: Direct mail campaign - A mail campaign is one of the best ways to market your real estate investing business. - besides the cost of acquiring the names, you will only have to pay for copies, envelopes and stamps. It takes several exposures( at least 3 - 5) before your prospects start feeling comfortable with the thought of doing business with you. Here are a few things to remember when starting a mail campaign: When starting a mailing campaign, consistency is key. This means that you cannot send out one mailing and expect to get a response. Send both postcards and letters as part of your mailing sequence. You will need to send out at least seven mailings, spaced seven to fourteen days apart.

Envelopes should always be hand - addressed. - always start your mailing off with a headline that benefits the customer. Those that have pre - printed labels do not get opened as frequently. Let them know what you can do for them. Newspaper ads can give you a lot of exposure, whether you are using them to buy or sell. For example: "End your house worries today. " or" Sell your home for Fast Cash. " Newspaper Ads - - This is a more costly way of marketing, but when done correctly and consistently, you can get you a lot of bang for your buck. The larger the circulation, the higher the advertising cost.

Here are some things to remember when running ads: Don' t be too wordy. - but more people will see your advertisement. Typically, you will pay for your ad by the word or by the line. Write succinctly and you will spend less money and get a better response to your ads. You do not need to write a novel to get your point across. Don' t over - abbreviate. You want people to be able to read your ad quickly and understand what they have read.

Some people try too hard to abbreviate the words in their ad that the reader almost needs a translator to read them. - weekends give you the biggest bang for your buck. And more people have weekend subscriptions than daily subscriptions. Most newspapers offer advertising specials encompassing the weekends. Website - Your website is an awesome tool that will create an air of legitimacy and credibility for you right off the bat. Here are some things to remember when marketing your real estate investing business with a website: You can use your website whether you are buying or selling. Of course, your website should look professional and well - maintained.

If you are doing both, I suggest having two separate websites. - your site should be easy to read and should not have too much information on one page. Present information clearly. This can get confusing. If you are selling, put pictures of your houses. Remember with your website, less is more. The more information that you provide for people to look at independently, the more sales you will make.

If people are visiting your website, they are interested in the services you offer. - make it easy for your prospects to contact you. Because people tend to be impulsive, you want to make sure they have a way to contact you immediately. It is very effective, whether you are selling to homeowners, investors or people looking to rent. E - mail Blasts - - This technique is typically used when selling properties. Simply put, you gather their e - mail addresses and whenever you have a new property available, you send an e - mail to your list to let them know. If the person has not signed up for your e - mail list or asked you to e - mail them, don' t do it.

Here are a few things to keep in minding when sending an e - mail blast: Don' t send unsolicited e - mails. - this is called spamming and internet service providers take it very seriously. Before sending a lot of e - mails, look into an e - mailing program. When sending out a mass e - mail, put all e - mail addresses in the BCC field. I recommend one that allows you to send both text and HTML e - mails. It is important to include as much specific information about the property in the e - mail as possible.

There are some now that also offer shopping carts and merchant accounts that will allow you to take deposits and earnest money online. - in fact, try to include a picture. In fact, by the time you speak to them, they may be ready to move forward. This will allow your potential clients to view the house before they speak with you. Of course, there are many more ways to market your real estate business. See what works for you. But, I suggest you start with these four methods first.

The more methods you implement, the more successful you will be. - about the author: real estate investing expert charles petty and his wife have been involved in over 700 real estate transactions in the last 9 years and are the creators of the ultimate turn key real estate investing systems. Follow these high powered marketing tips and you will create a six - figure income real estate investing business in just six months. For a FREE Special Report on how you too can make$ 10, 000 in 30 days and Six Figures in Six Months buying and selling Properties across the USA& abroad go to http: //www. Something that investing in real estate full - time gives you is flexibility. RealEstateInvestingProfits. com Making Real Estate Investing Work - When You' re Married to Your Partner.

It gives you the flexibility to choose when to work, and who you, where to work want to work with. - in fact, if conditions are right, you may even decide to work with your spouse. You can literally choose the people with whom you do business, the people with whom you will spend the majority of the time. In this article we will discuss working with the person who may you most important business partner, your spouse. Deciding to Work Together. We will focus on the following: Deciding to work together Setting ground rules and expectations Pitfalls to avoid Lessons Learned Division of Labor Pros and Cons What about the children? Deciding to go into business for yourself is never a decision that should be made lightly.

There are several reasons why we say this. - deciding to go into business with your spouse is one that should be considerable thought as well. Any new business ventures will be full of the unknown. When both you and your spouse are in the business together, any tension from the business may seep over into your married life as well. You may be figuring things out as you go, or things may not be going the way that you had originally planned. Because it is a very personal decision to go into business for yourself, you may take it personally if there are challenges. Of course, there are some very compelling reasons to go into real estate investing with your spouse.

Too often, frustration can also be taken out on your spouse. - first, the reason that most people decide to get started investing in real estate is because they want to make a change in their lives. Those are very powerful reasons, and they create a very powerful image in the mind and heart. They may want more money, and, more free time/ or to improve their quality of life. Imagine how powerful that vision is when it is shared by two people whose very futures are intertwined. They both see where they are going, and are willing to make the sacrifices to get there.

Everything that they do will impact their future, their home and their family. - two people who share a common goal can make a lot happen. As you know, things will not always go as planned, but two working together can weather anything. We know this from experience. This is not to say that real estate investors who have their own business cannot make it work. To encourage each other not to give up the vision.

Rather, it is to say that, when spouses work together, they can help to lift each other up. - there is a support structure built into the business. We have talked to countless people who are investing in real estate and want to get their spouse involved. Finally, it makes it a lot easier when both of you are on the same page. Their spouse might not have any interest in real estate, they might have misconceptions about the market and what it takes, or they just might not be interested. Take them to a seminar or workshop, listen to CD' s together. To those people, we recommend that they help their spouse to get educated.

Even late night infomercials are a great way to expose a spouse to what real estate investing. - once you and your spouse decide to work on and in your business together, it is very important that you sit down together to discuss your expectations, and lay down some ground rules. Setting Ground Rules and Expectations. Whether you are doing the business full - time, part - time or a variation of the two, it is important that you treat your real estate investing as a business. In most cases, one of you guys will know more about real estate investing than the other. This starts with the two of you sitting down and writing out your goals, expectations and ground rules.

You will find yourself in a position of" authority, " simply because of your knowledge base. - charles had begun researching real estate investing while still in law school and had begun to build an educational foundation. This was the case with us when we got started. Kim, on the other hand, had no real knowledge of or interest in investing in real estate. Things would have gone a lot more smoothly for us if we had set our ground rules from the beginning. It was up to Charles to convey the vision - all of the things that real estate investing had to offer, all of the life changing things in store. But, we didn' t.

You need to have a plan of who will handle each part of the business. - that is why we know it is so important to do. Think about the job that you may hold right now, or a job that you have left. You had measurements and goals, and you knew what you needed to do to be successful. In either case, you have known what was expected of you each day. Investing in real estate is no different. We tend to have assumptions when it comes to our mates.

When spouses work together, this is even more important. - we may think that we know what they can do, or what they want to do. Try not to limit each other, or put yourselves in a box. But everything should be explicitly spelled out, by both of you. You would be surprised at the ideas that you come up with when you give each other the freedom to grow, think of new ideas and try things out. We decided to try it out, as they say, and the rest, is history. In fact, we got involved in wholesaling because of a suggestion that Kim made.

Lastly, you have problem heard the saying that you can' t have more than one boss. - one of you may feel more comfortable taking on the majority of the responsibility, and the other may want to give that responsibility away. In answer to this, we would just like to say, that how you divide your labor is up to the two of you. Or, you may decide that one of you will be the boss. The key is to discuss it, write it down and make it happen. Or, you may even decide to divide your business in two parts, and each of you is the boss of that area.

Pitfalls to Avoid. - don' t give anyone the majority of the dirty work. Being aware of the following potential pitfalls will help make your real estate investing a lot more profitable and enjoyable. In business, there will always, as in life be some things that are not pleasant to do. No one person should be stuck doing the junk. Be sure that these types of tasks are divided between the two of you. Of course, what is considered junk can vary by couple, so you need to decide this for yourselves.

As you change your life, you want to both be happy doing it. - but remember, you should be having fun. It doesn' t matter if one of you is working the business full - time, and the other is part - time, neither of you should have the majority of the undesirable work. Don' t let issues in the business affect your marriage. Do your best to divide it as equally as possible. When you are working closely together day after day, this can be easier said than done.

But when things are a little bumpy, this can be a totally different story. - and, when things are, of course running smoothly, this is not an issue at all. You have heard the expression" Don' t bring your work home with you. " This is so true when you are working with your spouse, even if work is the office you created in the guest room. You want to protect it at all costs. Your marriage is a very sacred entity. This does not mean that you will never argue or disagree. Not only will it make your off - work hours stressful, it will also make your working hours less enjoyable.

But, try not to do so about your real estate investing business. - you don' t want to get so upset with each other that you lose appreciation of the opportunity in front of you. One of the biggest lessons that we learned is to give each other the freedom to make mistakes. Lessons Learned. Again, nothing happens perfectly. But, we love each other, we know our commitment to each other and the business and we do our best to support each other at all time.

In fact, some things flop. - again, this freedom that we give each other allows us to try new things. We are able to do this in a non - judgmental atmosphere and we have seen some tremendous fruit because of it. Sometimes, we just brainstorm about new things that we could do, new ways we can help people, exciting ways to grow our business. Of course, you have to have good communication. Don' t come down hard on each other.

This is very important in your marriage anyway, and you definitely want to carry this over into your business relationship. - watch your tone of voice( or your tone of e - mail) . They deserve the same amount of respect that you would give your co - worker or employee in any other situation. This person is your spouse. You should also structure your business so that you are each utilizing your strengths. Each of you should do what you do best.

Whether or not the business consists of just the two of you, or if you decide to hire staff, you still need to play to your strengths. - if that happens to be the exact same thing, you probably want to look into hiring someone else to do the other stuff. We have touched on this briefly in the previous sections. Division of Labor. In order to maintain a strong relationship and to have a fun, you both need, profitable business to enjoy what you are doing. For instance, Charles loves to look at houses.

The best way to do this is to decide what your strengths are and divide the jobs up within your company along those same lines. - he can look at a" fixer upper" and see it as it will be after repairs. She sees them as they are, and smells them as they are too. Kim, on the other hand, doesn' t particularly care for rehab houses. So, it makes sense that Charles is the one who evaluates properties. Charles is the visionary, who looks at the big picture. Kim is more of a detail person.

Even though she doesn' t work in the main office, Kim oversees the employees, book keeping and, pay roll the nuts and bolts that keep the business running. - even here, we have different strengths and enjoy different things, and we divide our responsibilities accordingly. We are both very creative, and are involved, in different ways in the marketing. Remember, we grew to this point. That is one of the reasons that we wanted to bring you this message. It wasn' t crystal clear to us the way it is today. If you are thinking about working with your spouse, or you have started it, and things are kind of bumpy, we want you to be able to use our experiences to make it work for you.

As you can see, there are pros and cons to working together. - pros and cons. Some people cannot see how we can spend so much time together, every day. We feel very blessed that this is not the case for us. We know that this is a challenge for some people. Some people would consider the fact that you are both doing the business full - time to be a con.

At the same time, you could consider that fact that you can both take vacation together, without having to ask anyone' s permission to be a pro. - you might not want to be together that much. Again, some of these things are going to depend on you, your relationship and your goals. Whether you have children or are thinking about them, being in business for yourself provides you with a wonderful opportunity to open up new worlds. What about the children? Charles' s parents own their own business. He saw his parents doing it, and he wanted to do the same thing.

Even though he has both his JD and his MBA, he has always wanted to run his own business. - we have three young children( ages 2, 4 and 6) with a fourth on the way. They have all been on airplanes and they have been places that we did not visit until we were much older. Investing in real estate has given us the freedom not only to have these wonderful children, but to spend time with them. They see how much is out there in the world, and they know that it is theirs for the taking. Investing in real estate, as partners has, together allowed us to nurture both of these. Family and church are very important to us.

We can go on fieldtrips, attend Bible study and just spend time together, because we work together and we make our own rules. - we love each other and the challenges and rewards of working together. We set our goals and we are responsible for making things happen. When Kim was pregnant with Hannah, we decided that, our first child she was not going to go back to corporate America. He knew that, if we invested in real estate full time, we could make some significant changes in our life. That same December, Charles decided that he no longer wanted to work in the law firm. It was an exciting time.

It was a scary time. - it was a fun time. But every day, we are so glad that we did it, together. Charles and Kim Petty are a husband and wife real estate investing team in Metro Atlanta. No matter what has happened, or what will come, we know that we are working our real estate business - together. They are the creators of the Ultimate TurnKey Real Estate Investing System. Buy it, flip it, fix it!

For further information on Real Estate Investing products and services offered by Kim and Charles Petty call 1 - 800 - 841 - 257Ensuring your success when working with Contractors! - buy, fix and sell! They describe the concept of finding a house that needs repair, fixing it up and then selling to an end buyer, usually a homeowner. These are slogans that many investors live by. However the key to buying, fixing and selling is the" Fixing" . But the key is to find the right contractor. There are many courses and gurus that will tell you to rehab a property and you will make so much money you won' t be able to stand it.

If you are to be successful in real estate investing or any endeavor at all, you must find the right people to do business with. - the contractor that you work with must meet the following criteria: the contractor that you choose to work with must be 1) reputable 2) dependable and 3) economical. You must find the right contractor to work with you to fix up your properties. Their reputation - when you decide to work with a contractor it is critical that you get references. While a reference from a pastor or business associate is good, you need to know that they performed quality work and that the client was happy. When you get these references, make sure they are for people who the contractor has already done worked for. It is also important that you call the reference.

But, you must call these people. - too many people request references and are satisfied when they receive a list of them. See what they have to say. Their dependability - simply put, your contractor should do what he says he' s going to do, when he says that he is going to do it. Make sure that the phone numbers work! This is very important, because you do not want your rehab project to drag on needlessly or endlessly.

The work will be done quickly and professionally. - a good contractor will have his workers on the site when he says that they will be there. If your contractor is working more than one job at a time, your job should receive equal attention. You will be surprised to see the wide range of pricing that you could be quoted on one specific job. Their economics - for as many properties as there are in the market, there are just as many contractors and their pricing runs the gamut! Typically, contractors who advertise in the Yellow Pages have a higher overhead, and charge more money.

There are other things to be considered besides price. - someone who is your friend' s cousin' s brother may have lower prices, but they also might be just starting out and not have the experience you desire. Here are some other items to consider: You want to know if they need" up front" money to get started, or if they can bankroll themselves. Do they have a bank account? Typically, the lower the price, the more money that will be needed up front. If you are dealing with someone without a bank account, you are in for a lot of headaches.

How many people are in their crew? - someone who hasn' t taken the time to open an account for their business is not someone that you want to deal with. Do they have their own equipment? Are they insured? Do they have a business license? You can decide which of these items are most important to you.

It is possible to find a good, dependable and economical, reliable contractor that you can work with. - you do not have to compromise your value system. When you do, hold onto him! Find a good one and grow your relationship with them and you will be well on your way to building your real estate empire! A good contractor can make you a lot of money. We wish you much success! In the last 7 years they have been involved in over 600 real estate transactions.

Kimberly and Charles Petty. - and there is no reason you can' t experience the same success. Ensuring your Success when Purchasing Rehab Properties. For further information on Real Estate Investing products and services offered by Kim and Charles Petty call 1 - 800 - 559 - 9702 right away. You have heard all of the hype surrounding real estate investing, and you' re ready to get started. So, you ask yourself the following questions: "How do I get started in real estate investing? " "What kind of property should I buy? " "I don' t know anything about working with contractors, should I do this? " "How do I know that won' t get in over my head? " We are going to discuss those questions, and give you some good, solid answers that will allow you to get started investing in real estate - on the right track. You know that there is money to be made - you' ve seen the late night infomercials, and you even know some people who are investing in real estate successfully.

Getting Started. - this does not mean taking a course to become a licensed real estate agent, or reading countless books. The best way to get started investing in real estate is to educate yourself. You can educate yourself by taking advantage of the numerous resources that are available to you. This is a group of people who are either investing in real estate or thinking about doing it. In most major cities, you will be able to find a Real Estate Investors Association( REIA) . Almost all REIA' s have monthly meetings where you can network with other real estate investors, listen to speakers, meet service providers with expertise in varying areas, and even find properties to invest in.

In the metro Atlanta area, there are two such organizations. - locating a reia is a great way to get started. One is the Georgia Real Estate Investors Association. They also offer subgroups, to allow you to meet in a small group setting with experts in various areas. They hold monthly meetings the 2nd Monday of the month. You can even stop by their office and take advantage of their many resources, computers and more, including software.

There is also a smaller, more intimate group in the metro Atlanta area. - membership is required. This group is simply called Real Estate Investors Association. Their meetings always have a speaker and there are service providers there for you to speak with as well. They meet the 2nd Thursday of the month. There is no membership cost, but there is an admission charge.

You need not spend a lot of money doing this. - another way to educate yourself is to attend a seminar. There are a few companies in the metro Atlanta area that offer seminars to help you get started in real estate investing. The key here is to make sure that you get good, solid information that you can use. Some of these are free, while others charge a fee. These seminars provide an excellent opportunity for you to meet key players in the investing business.

Again, you have the opportunity to network with other investors. - you can ask questions in a smaller, intimate atmosphere. Take advantage of it! You are doing one of them right now! As you can see, there are many ways to get started. By reading Investor 2 Investor and publications like it, you are exposing yourself to an abundance of quality information. The most important thing is to actually get started.

That is an excellent step. - don' t educate yourself to the point of not doing anything. That will never change. There is always more to learn each day. But, in order to succeed, you have to start. Destiny is not a matter of chance. And there is no better time than today!

It is a matter of choice. - Unknown. - there are several types of property that you can invest in. Your Investment Strategy. There is commercial real estate - such as office buildings, etc, apartment buildings. and there residential real estate. In today' s market, single family homes are your best investment vehicle. Residential real estate can be either multi - family or single - family.

I say this because. - most people, who are for looking for a home, want their own house, not one that is attached to another. It is the American Dream to own a home. Noted Real Estate Investor, John Adams lists the following 9 reasons for investing in single family homes: Bargains are readily available in single family homes. Single family homes are readily available in most communities. Financing is easy to get for single family homes. Single family homes are easier to rent.

The single family home market is extremely stable. - single family homes are easier to sell. Single family homes are relatively easy to understand. Single family homes make great retirement plans. Single family homes offer excellent tax benefits. Let' s take a minute and review these points in greater detail.

Since most people who live in single family homes also own them, at any given, this means that time, there are a number of them available for purchase. - first, it is true that you can get great deals on single family homes. People go through lots of life changes that require them to sell their home. Lots of these people need to sell quickly and are able to be flexible on their asking price - and that means a bargain for you! They may be increasing the size of their family, moving into a smaller home because their children have moved out or they may have been downsized or have experienced any other circumstances which require them to sell their home. Financing is extremely easy to get for single family homes.

In most cases you can borrow the funds to purchase the property and complete the renovations. - in fact, there are a group of lenders who specialize in lending to investors who purchase and fix up single family homes. We will go into how this works in greater detail further along in the series. They are everywhere. Think about how many single family homes you see every day. And because they are so readily available, they are very easy to rent and sell. There are others who have gone through adverse conditions and although they may no longer own a house, they still want to live in one.

Many people want to move up from an apartment and decide to rent a house. - they are very happy to rent. The single family home market is very stable, for all of these reasons. And for as many people looking to rent a house, you have people looking to buy them as well. They are easy to manage. There are great tax benefits that come from investing in single family homes. There are only so many things to take care of in a house, and with a good property management company, that task is made even easier.

This is not the forum to go into all of them, but make sure you speak to a good accountant who can help you reap this additional benefit of your real estate investing. - you have many options available to you. Finally, it takes more than one house to build your empire, but with as few as ten of them, you can retire and live comfortably. You have your monthly rental income( less any property management costs) , you can do a refinance and get tax - free cash based on the equity in the house, you can sell, and lastly whenever you would like. Building your team. The secret of success in life is for a man to be ready for his opportunity when it comes. - Benjamin Disraeli. In order to make your real estate investing more successful and enjoyable, you need to surround yourself with a team of professionals who know the business and have your best interests at heart.

You can network at meetings, seminars and other events and collect business cards. - there are several ways to build this team. You can speak with individuals to get a feel for them. You can also look in the yellow pages and the newspaper for additional contacts. Let them know what you are trying to do, and see if they can help you achieve your goals. Just a note - Yellow Page advertisers may have higher prices than you would like to pay, simply because their advertising costs are built into their pricing. It is important to get references, and when you are getting quotes for work to be done, get two or three.

It is a good idea to speak with people whom you know that are already investing, or simply know people who do the job that you are looking for. - you can also hook up with a company that pulls everything together for you. Many investors prefer this type of system, because it takes the guesswork out of their real estate investing. This type of system is often called" TurnKey" or" Automatic. " This simply means that everything has been set up with you, and the service providers have been tried, tested and proven to be true. Here are some of the resources that you can expect to find in a TurnKey System:  Investment Properties - these are typically single family homes, but can be any type of real estate that meets your investing criteria. Ideally, these individuals are accustomed to working with real estate investors and will have programs that are tailored to your unique needs.

They should be offered at a fair price, with plenty of equity for you.  Lenders - this includes purchase money lenders( often called hard money lenders) and mortgage/ refinance specialists. - you will often find that serious service providers in this arena often specialize in working with investors.  appraisers - a good appraiser is one of your best friends in this business. In the majority of cases, the appraiser must be approved by the lender. A good appraiser will be familiar with the market conditions and prices and ensure that the house is appraised with a realistic value. This should make you feel good because it means that the lender is comfortable with the appraisers work and is willing to lend based on it.  Contractors - there are a wide range of contractors out there. This will allow you to control your costs and your time. It is important to get a good, reliable contractor on your team.

When you know that a job will be completed at a reasonable cost within a reasonable time period, you will be able to breathe a lot easier. - while there are no guarantees, this should make you feel better to know that their pricing, quality and timeliness are typically in - line, or they would not be recommended to you.  property management - a good property management can change your outlook on owning rental property. Contractors who are recommended through a TurnKey System have been through a screening process. Many people are hesitant to get started investing, because they have heard horror stories from other investors about leaky toilets, midnight phone calls and more. They will run your ads, interview your prospective tenants, handle maintenance and, collect the rent even send in your mortgage payment, if you would like. Well, with a good property management company you do not have to worry about that. This will either be done for a flat fee based on the number of properties that you own, or a percentage of the monthly rent that you receive from the tenant.

Surround yourself with good, honest reliable people and you will have a successful real estate investing career. - those are the major players that you will need on your team. Don' t be afraid to make mistakes. The important thing is to learn from your mistakes, so that you do not repeat them. Mistakes are how we grow and learn. More importantly, learn from the, if you can mistakes of others. Congratulations on getting started!

Hook yourself up with someone who is honest, fair and knows what they are doing. - your life is about to go in directions that you have only imagined. The life that you keep dreaming about is really there for you! Don' t wait another day. It is within your reach. We wish you much success! Make it a reality by investing in rehab properties.

Kimberly and Charles Petty In the last 7 years they have been involved in over 600 real estate transactions. - for further information on real estate investing products and services offered by kim and charles petty call 1 - 800 - 559 - 9702 right away. And there is no reason you can' t experience the same success. Ensuring your success when working with Real Estate Agents. You know that there is money to be made - you' ve seen the late night infomercials, and you even know some people who are investing in real estate successfully. You have heard all of the hype surrounding real estate investing, and you' re ready to get started.

But how do you find deals that will make you money? - one of the best ways to find these types of deals is through a real estate agent. One of the best areas to make money in real estate is through fixer - upper or rehab properties. You know them. But how do you find the right real estate agent? You have seen their billboards with their smiling faces and catchy slogans! First there are two types of real estate agents: Buyer' s agents and listing agents.

Listing agents are the agents that list properties and represent the seller of a property. - the buyer' s agents are the ones that represent the buyer' s and make offers on listed properties. The seller can be a private individual, the Department of, a bank Housing and Urban Development( HUD) or any other person or entity that has decided to sell a property. There are many courses and gurus that will tell you to find a real estate agent and you will make so much money you won' t be able to stand it. Some agents represent both buyer' s and sellers, while some agents are only on one side of the business. But the key is to find the right agent.

You must find the right buyer' s agent to work with you on finding properties. - if you are to be successful in real estate investing or any endeavor at all, you must find the right people to do business with. The buyer' s agent that you work with must meet the following criteria: Experience with working with investors Ability to think" outside of the box" Friendly Aggressive. You wouldn' t go to Burger King and ask for a bucket of chicken, would you? Experience working with investors. Yet many investors will attempt to work with an agent that is used to working with first time home owners and expect to have success.

The market for real estate investors is very different than that of a homeowner looking for a house in which to live. - you must have someone in your corner that knows the territory and knows what to expect. The real estate agent must understand not only the value of comparable sales and how needed repairs affect a sales price, but a myriad of other real estate investing specific criteria. Ability to think outside of the box. You also want an agent that is used to Bank Owned( REO) properties, Government owned properties( HUDs) , etc. All profitable investors must be creative and go against conventional wisdom at times. Friendly.

You must have an agent that thinks like you and is not offended if you are making a creative offer or attempting to put together a creative transaction. - this rule should apply to anyone you are going to do business with on a consistent basis. Your agent should not only be friendly, but should genuinely appreciate your business. Real estate investing should lead to freedom and security and if you have to deal with someone who is not a joy to be around takes away from your freedom. Friendly agents get better results. This will result in more money in your pocket.

They develop a better rapport with sellers and seller' s agents which will result in more closings. - aggressive. Your buyer' s agent may also have to make several offers before one gets accepted. Many times your buyer' s agent must call the listing agent of a property several times in order to get a response. Your agent must be able to press and not get frustrated. You want to do your best to close on time once you have a property under contract with them. Once you have found an agent that fits this criteria, you want to grow and develop a long term relationship with them.

Once you have closed several deals with them you also should send them birthday cards, take them out, Christmas cards to dinner etc. to show them that you value their business. - find a good one and grow your relationship with them and you will be well on your way to building your real estate empire! A good real estate agent can make you a lot of money. We wish you much success! Developing your winning team. Kimberly and Charles Petty For further information on Real Estate Investing products and services offered by Kim and Charles Petty call 1 - 800 - 559 - 9702 right away. As a real estate investor, it is very important that you surround your self with a good, strong team of trustworthy individuals.

As we discuss developing your winning team, we will break it down by the process. - you will need to develop and maintain good working relationships with professionals for each stage of the process. The processes we will discuss are: Finding the Property Funding the Property 1 Closing on the Property 1 Fixing the Property 1 Selling the Property. As we discussed earlier, there are several ways for you to locate your properties. Finding the Property. Established relationships can make finding the right house easier for you, especially with motivated sellers.

In some instances, you may be able to get on an" early notification" list, or after you have purchased a property or two, the wholesaler might even look for properties specifically for you. - once you locate a wholesaler who specializes at finding good, quality houses in your target areas, you want to develop a good relationship. This will be an important relationship for both of you. Another member you want to have on your team is a strong Realtor. You will have a steady source of quality properties and the wholesaler will gain a client who they know will do what they say that they are going to do. It is important that the Realtor be used to working with real estate investors or at least has a basic understanding of real estate investing.

You will be looking for atypical properties, and your Realtor will really need to be on board with what you want. - at the minimum, your realtor must be open to learning and listening. It is important that you stay in the driver' s seat and only look at properties that fit your criteria and business plan. Remember everything that you have learned about what makes a good investment for your portfolio, and stick with it. You may find that many Realtors want to show you the properties that they have listings for or what they think is a good investment. The good thing is, there are a lot of Realtors out there, so you should be able to find one that you can work with.

Probate attorneys and divorce attorneys are just two such examples. - other people who have access to motivated sellers and/ or distressed sellers are good to have on your team. If you can find someone who can give you the scoop or the inside track on available properties, cultivate that relationship. When you locate a great property, you will need to be able to move quickly to purchase it. Funding the Property. This is especially important if the property is one that you are competing with other investors to purchase. Unfortunately, many real estate investors put properties under contract and never close.

You will want to show the seller that you can purchase the property, just like you said that you could. - if the seller is one who works with a lot of real estate investors, they may be gun shy. In order to ensure that you can close on the deal when you say you can, you need to develop strong relationships with both hard money lenders and private lenders. Even if the seller has no negative experience( or no experience) with real estate investors, it is a good idea to be able to show that you have the funds to close the deal. You will find that the terms will differ between hard money lenders and private lenders, but each type of loan has its place in your real estate investing business. They also charge points and some have pre - payment penalties.

Hard money lenders typically charge between 12% and 14% for their loan. - all of the loans are interest only, most with monthly interest payments. It is basically an opportunity cost. Many new investors are taken aback when they see what the terms are, but more seasoned investors know that the terms are definitely worth it. Banks are not going to loan the money for an investment property. There are many other benefits of working with hard money lenders. Even those banks that offer" rehab loans" usually do not close in a timely manner and have all sort of specifications that you will not find in a hard money loan.

Hard money lenders know the market and specialize on working with real estate investors. - and most importantly, they have the money to lend. They are familiar with values, areas and appraisers. Because they are in the business of lending, most hard money lenders have several million dollars available to lend out. If you have developed a relationship with the hard money lender, and have already closed several deals with them, you can probably close even more quickly. As long as you and the property meet their criteria, you can usually close in as little as seven to ten days. The terms for loans with private lenders vary on the lender, and often on you, the real estate investor.

You always want to be fair to the lender, and make sure that the loan is worth their time. - in many instances the private lender is new and you can determine the terms. However, you will most likely pay a lower percentage rate and few to zero points. They will rely on you to provide them with good information and a good investment. However, you may have to educate your private lender if they are new to lending. This is a really amazing responsibility. You will also be responsible for finding good appraisers, surveyors and closing attorneys.

You must make sure that you put checks and balances in place to protect your lender. - closing on the property. They are your appraiser, your surveyor( if the lender requires it) and your closing attorney. In order to close on your property, you are going to need three more strong players. It is important to note that, if you are funding your deal with a hard money lender, all of these team members will actually be picked( or approved by) your hard money lender. These things make sure that the lender' s investment is as secure as possible. Each of these members ensures that the investment is a good one, that the values are solid and that everything closes in order.

However, just because these team members represent your lender, this does not mean that you cannot develop a relationship with them. - also, once you get your own private lenders, you can utilize these same people with whom you have already developed a relationship. Developing this relationship will allow you to check on the status, schedule closings to your convenience and just make sure that everything stays on track. The appraiser will be responsible for providing the After Repair Value( ARV) appraisal. If you attempt to work with an appraiser who works primarily( or only) with homeowners, you are in for a lot of headaches. Again, the appraiser should be someone who is used to the real estate investing market.

I fact, don' t even go there. - now, not all lenders require a survey. Use the appraiser that your lender has approved, or talk to other real estate investors and find a good, reputable appraiser. However, they will already, if they do have a survey company that they use. The closing attorney is another important member of your team. Just go with them.

If they are not selected by your lender, they will have to be approved by them. - their office makes sure that all of the details are taking care of. The closing attorney is very important to your deal. They make sure that title is clear and title insurance is obtained. In some parts of the country, a title company handles these same tasks. They prepare all closing documents and wire funds.

Fixing the Property. - this is a hard fact. The contractor that you choose to work on your rehab can make or break your project. It is hard because many real estate investors do not choose licensed contractors to work on their jobs. These contractors might do an excellent job, but they also might lack the experience and the business acumen necessary to complete the project in a timely and professional manner. They often use their brother, their uncle or, their cousin their friend. Regardless of your level of expertise, you have to make sure that you have checks and balances in place to protect yourself.

Find out how many members are on the contractor' s crew. - you should have agreements in place that specifically detail the items to be completed, the prices and the timeline for completion. Does he have his own trucks? Finding a good contractor can be a long process. Does he have the money to begin a job, or does he need start up money? Be sure to get referrals and before and after pictures of work that the contractor has completed.

Find out if the clients are satisfied and if they would use their services again. - when you get the referrals, call them. When you locate a good contractor or two, hold onto him, and you will! Knowing that you have someone that you can count on to will give you the confidence to put properties under contract and market them and move them quickly. A contractor who does quality work at a fair price in a timely manner is worth his weight in gold. Selling the Property. It is key that you locate a mortgage broker that will be able to finance your buyers.

When you decide to sell your retail property, there are two key members on your team, your mortgage broker and your Realtor. - your mortgage broker should have programs for all types of sellers, whether they are first time home buyers, or retired or, have credit issues any other" out of the ordinary" situation. You want to know that when you find a buyer with reasonable qualifications, your mortgage broker can get your buyer qualified and closed. It is crucial that your mortgage broker has experience closing loans. You do not want someone who is trying out new programs or just getting started. Ideally, they will have a 100% financing program and you will be able to advertise it when you advertise your house.

You need to get your properties sold, and your mortgage broker can help you do this. - the second member of your selling team is someone that we have already mentioned, your realtor. Again, your Realtor should be able to think outside of the box. You want someone who can find you a buyer, quickly. There are so many financing options out there, you don' t want to look for only" traditional" buyers. This is another reason why a turnkey system is so attractive to real estate investors. It will take a little time and effort to develop your winning team, but it is worth it.

All of the keys are in place, and you can just plug in and take advantage of what is already in place. - charles and kim petty are a husband and wife real estate investing team in metro atlanta. No matter how you find your team members, putting together a strong team is crucial to your success. They are the creators of the Ultimate TurnKey Real Estate Investing System. For further information on Real Estate Investing products and services offered by Kim and Charles Petty call 1 - 800 - 841 - 257