Where Wealth Begins !!

   

Wholesaleing and Contract Assignments:

Hey Millionaire,

Wholesaleing and Contract assignments are one of my favorite methods of aquireing real estate.  It allows you a way to acquire real estate with very little up front costs.  But the best thing about it is that when done right there is zero risk involved.  Now just because there is no risk involved doesn't mean that you should get sloppy.  Do your homework on the property and this can and will be a very lucrative strategy.

See you at Your 1st Million

Amar

Real Estate E Books:

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Strategies for Getting Started in Real Estate

Some great strategies for getting started building your

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Real Estate Forms Portfolio

A comprehensive collection of the forms and agreements commonly used for investing.

To Purchase:

Veteran Real Estate Investor Shares 101 Insider Secrets!
by Sal Vannutini
. . .learn how to create a fortune in real estate and quit your job forever!

1 selling book for real estate investing for beginners

Listen, let's just cut to the chase here. You're reading this because you like the idea of learning how to create a fortune in real estate and quit your job forever!

There's no reason to beat around the bush and there's no reason to feed you a stale meal of the same old hype you read at every click of your mouse.

by Sal Vannutini

How To Make HUGE PROFITS With Fixer-Upper Houses Even if You Can't Swing a Hammer!

Do you channel surf on your TV? Most of us do, especially when we're just not sure what we want to watch. Suddenly, you land on a channel where this very nice looking fellow is talking about how you can become a millionaire overnight.

And how does he propose you do that? Well, you are going to do that by investing in real estate, of course!

7 Simple Steps to Owning a Home Without a Down Payment
by George Chapin
Don’t Have a Down Payment?
Credit Less Than Perfect?

Not to worry. . .this mortgage industry professional shares the secrets of getting absolutely free money to purchase a home.

This easy to follow, step by step guide takes you by the hand and walks you through the steps of going from renter to owner in 60 days or less.

Free, Unlimited Income Opportunity Online

Resources: 

We are always on the watch for the best resources on the net this week we have discovered these great tools.

Robert G Allenco author of the Chicken Soup for the Soul series has always been a favorite of ours at Your 1$T Million.Net.  His Ultimate Real Estate System is almost a must have for Real Estate Investing Basics

Introducing A Complete Course That will Show You How To Buy Real Estate Nothing Down, Realize Returns As High As 16% to 50% With Tax Lien Certificates and Purchase Your Next Home or Investment Property For 30% to 40% Below Its True Market Value With Foreclosure Short Sales. The Ultimate Real Estate System.

This is NOT one of those "teaser" courses just to get you excited about investing. The following program stands on its own with a FULL ARSENAL OF TOOLS that you WILL NOT find in any other such online programs.
Doubt it? See it for yourself..

Government Auction.org

Government Auction Site that also has a very extensive foreclosure list. A good forclosure list is key if this is the strategy that you will use.  Government Auction.org

Usa Forclosure Manuel

One of the best sources for information on the forclosure, pre forclosure and reo market we have seen in a long time.  Very in depth information worth a look check it out here.

Bootstrapped Real Estate: Free Resources

Free Forclosure Sites

The Fanniemae website is treasure trove of information on forclosures. Worth checking out.

www.fanniemae.com

Of course you can also try the Freddiemac website also.

www.freddiemac.com

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And visit our Blog Your 1$T Millionaire Lounge

Feature article:

What Bubble?
Why there is never a bad time to buy real estate.

By Amar Brown

There is no real estate bubble. Yes I said it, you heard me. Well if you didn’t hear me let me repeat it. There is no real estate bubble.

Forget about the reports and studies from the experts and analyst that you seen or heard on that nationally syndicated TV or radio show.

Forget about the endless stories on the news and in the paper about how the sub prime mortgage market is destroying the economy and the real estate industry. All smoke and mirrors.

In order to capitalize you must change the way you look at the real estate market. The reports that you see and hear are directed toward the consumer market, the end user, it is information for the retail purchaser. (Real estate for personal use)

You must stop thinking like and accepting information for consumers, you must start thinking like an investor. (Supplier of real estate for the end user)

As an investor you are looking for cash flow and capital gains and as long as the investment allows you to achieve either goal then the market conditions do not matter.

An investor knows how to make money in any market.

To the investor there is no such thing as a bad market. The market is not good or bad, it just moves up, down or flat. And there are strategies that can be use in every market (there is no one strategy that can be used in every market condition). So there are no bad markets just wrong strategies for the market you are in.


If you are not making money with your real estate investments, don’t blame the market. (This is something that you cannot change) Start to look at the strategy you are using and make sure it is appropriate for that particular market.

Talk to other investors to find out what strategies they are using. I guarantee you someone is making money on there investments in your market.

If your strategy is not right for that market, either adjust your strategy or get out of the investment. It is always better to cut your loses and kill the alligator then to keep feeding it hoping it will become a cash cow.

Keep in mind the real estate market is very diverse; you can have two areas in the same city in which you would have to use different strategies. If you operate in your local market you may start to think that your market conditions are the same market conditions everywhere.
Nothing could be further from the truth at press time, Philly PA is seeing a surge in 2-3 family home sales, Flint MI is flat on single fams, and in New York city the borough of Queens has one of the highest foreclosure rates in the country yet in mid town Manhattan you can not put up a luxury condo quick enough.

Study markets outside of your own see if you can capitalize off of the growth of another area or just so you can learn the different market cycles.

Learn which strategies work for different markets, or if you want to specialize in one strategy find out the markets that it will work in.

Whatever you do you must train yourself to think like an investor and not a consumer. Don’t believe the hype. You must be informed so make sure your information on real estate comes from a reliable source that caters to investors.

And remember it is never a bad time to buy real estate, so don’t wait to buy real estate, buy real estate and wait.

Make Money Quickly with Real Estate Investing - How To Wholesale Real Estate
By James Orr

In this particular article I'm gonna talk to you about some different ways too quickly generate cash in real estate investing.

One way to generate cash quickly and real estate investing is to Wholesale Property. What is wholesaling property?

Wholesaling property is finding a great deal, putting the deal under contract and then quickly selling it to another investor or an end buyer.

So, let us take a look at those three steps and see how we can accomplish generating quick cash by wholesaling real estate.

First finding great deals. In our current market finding some truly great deals is not very difficult. With the current flood of foreclosure properties, short sales and otherwise motivated sellers, there are some truly amazing deal available right now.

Once you've found a deal, you need to control the deal in some way. Most people prefer to put the house under contract to control it. You can also use an option to control the deal as well.

The last part of quickly selling it to another investor is usually where most new investors get stuck. Some new investors think that the hardest part is finding the deals. This is not true.

For most new investors the hardest parts is finding other investors that are serious buyers and who are willing to buy their deals.

So, in my opinion, you should be focusing on building your list of investor buyers immediately. If I were starting from scratch I would build it using both direct marketing and networking. I would send out mail to investors, post ads to find investors and respond to ads investors are running. Plus I would ask everyone I know if they know of someone looking to buy an Investment Property.

A couple other ways to generate quick money with real estate investing have similar steps like bird-dogging where you just find deals and turn them over to another investor for a much smaller fee and buy a house to fix it up and quick turn it. In changing markets, I am reluctant to recommend that strategy except for extremely good deals or deals that require you to take ownership like deals in the MLS.

Those are the steps to quickly generating money with real estate investing.

James Orr is a professional real estate investor, marketing expert and founder of the LearnToBeRich.com on-line investment game.

You can get a free real estate course and fully analyzed real estate deals and his blog by e-mailing him at freerecourse@learntoberich.com or visit the Learn To Be Rich Blog for more great articles and information.

The Power Of Wholesale Real Estate Investing - Whether Or Not You Have Cash Or Credit
By Jordan Taylor

In business, wholesale is defined as the sale of merchandise to retailers rather than directly to the public (The New Dictionary of Cultural Literacy, Third Edition). In real estate investing, the term means to buy property below market value then use one of several possible exit strategies to make your profit.

“Wholesaling is one of the most powerful strategies in real estate investing, and it really is something you can do with no money and poor credit,” says Russ Whitney, founder and CEO of Whitney Information Network, Inc.

Whitney, the bestselling author of Building Wealth (Simon & Schuster), Real Estate Millionaire Mentor (Dearborn), and The Real Estate Millionaire Mindset (Doubleday), notes that wholesale investors have traditionally targeted distressed properties in less-than-desirable neighborhoods. “The problem with that approach is that new investors might not feel comfortable spending a lot of time in low- and moderate-income areas,” Whitney says. “It’s important to know that wholesaling works in nice neighborhoods every bit as well—and often even more profitably—as it works in not-so-nice neighborhoods.”

Typically wholesale properties are owned by strongly motivated sellers who are eager to get rid of what has become a problem for them. The property may be in poor condition and require repairs the owner can’t or won’t do before it would appeal to an average home buyer. You can buy these properties at a discount, do the necessary fix-up, and either hold the unit in your own portfolio as a rental or sell it.

Of course, that strategy usually takes access to some cash and financing. Whitney says another way to make money on a wholesale deal is not to buy it. Instead, he says, get the property under contract then assign that contract to another investor for a fee.

In addition to requiring virtually no cash beyond the nominal deposit (usually $100 or so) that you will put up with your contract, this technique makes everybody involved a winner: The property owner is getting rid of a problem; the investor you’re assigning the contract to is getting a good deal without having to do any work to find it; and you’re making some cash that you can use to further your investing business.

The key to successful wholesale investing is finding motivated sellers. “The question you need answered is, ‘Do they want to sell or do they have to sell?’ To find out, all you have to do is ask why they’re selling,” Whitney says. “Most people will tell you enough to let you know whether or not they’re motivated.”

An owner who simply wants to sell but is not under any pressure may not be willing to accept the discounted price you need to do a profitable wholesale deal. If that’s the case, move on to the next deal. Give the seller your name and contact information so he can call you if he changes his mind. You might also keep the details of the property in a database and check back every six months or so to see if circumstances have changed. But don’t spend a lot of time trying to do a deal with a seller who isn’t motivated.

Finding wholesale deals

So how do you find the motivated sellers with great wholesale deals? Some of the traditional ways include working with real estate agents, checking classified ads, and looking for properties that have been on the market a while. More effective ways include marketing, networking, and tracking vacant houses.

When you market effectively, you will find out about properties before other investors do because people will call you when they are ready to sell. Networking is closely related to marketing because it establishes you as the go-to person for anyone who has a piece of problem real estate.

One way to find vacant houses that might be good wholesale candidates is to regularly drive through neighborhoods where you want to invest and look for indications that a house is vacant. When you find a vacant house, track down the owner and ask if he’s interested in selling. In most cases, you can find the owner by a simple check of the public property records. Send a postcard or letter, or you might even want to make a phone call. If the owner isn’t interested, continue to monitor the property and follow up in a few months.

“Wholesaling is a great strategy for both new and established investors,” says Whitney. “It allows you to make quick cash when you don’t have any. When you’ve accumulated some cash, continue using this strategy to build your portfolio.”

Jordan Taylor is the editor of Millionaire Mentor™ Newsletter, which is published by Whitney Education Group, Inc.™ To sign up for a free subscription, visit http://www.russwhitney.com For more information about advanced wholesale real estate investing training, visit http://www.wiacademy.com

Real Estate Wholesaling - Anyone, Anywhere Can Wholesale Real Estate
By Eric Medemar

I am a real estate investor/investing consultant from Grand Rapids, MI. I currently own 35 rental properties and have become a full time real ...

Far to many people make wholesaling real estate much more complicated than it needs to be. Real estate wholesaling can be laid out in 6 very easy steps:

1. Find Buyers-Locating buyers needs to be the first step to get going in the wholesaling process. Without buyers even the best wholesale deals will not make a penny. Too many investors make the mistake of looking for homes before they look for buyers, do not make this mistake.

2. Find Motivated Sellers-The more motivated that the seller is, the more money you will be able to make. Try to find sellers willing to sell at least 30% below real market value.

3. Put the home under contract-Once you have located a home that meets your criteria, get the home under contract. Be sure to have an escape clause built into the contract in case the home does not meet your buyers needs.

4. Get your buyers through the home-Call of your buyers and set up a time to get them through the home during your escape clause period. If the buyers like the home collect a nonrefundable deposit that is equal to the amount the you could lose if your buyer decides not to follow through on their purchase. If your buyers do not like the home then use your escaped clause to get out of the contract.

5. Close the property-If your buyers did like the home then you will need to set up a closing. If you are strapped for cash or have bad credit then will need to use a back to back closing. A back to back closing allows you to close on the home with your buyers money, rather than your own.

6. Get Paid-Getting paid is what you are in this for, so this is the most important step. After you have closed the property with your end buyer, there should be a decent spread between what you paid for the home and what you sold it for.

Here is an example of one of my recent deals. I got a call from a realtor on Monday about a home coming on the market for $22,000. I put the home under contract on Monday for $22,000. Tuesday I put the home under contract to one of my buyers for $31,000. Two weeks later we closed the home and I cleared over $8,000 for about 30 minute in work. As you can see wholesaling real estate can be well worth your while.

Eric Medemar is a Realtor/Real Estate Investor out of Grand Rapids, MI. Eric currently owns 30+ rental properties, and is the creator of Wholesaling Real Estate the programs that enables you to duplicate his exact real estate system. You can view Eric's Blog at Free Real Estate Wholesaling Guide