Different types of realtors

Understanding Realtors and what type they are, is as important as buying the right type of real estate. How would you know what type of realtor your working with?

I'm personally a realtor and very good at investment real estate. Why is that because I actually do it. I've personally done 100's of successful homes. I also have a construction company and understand construction. What needs to be done on homes vary for example a lot of investors and Realtors make the mistake of over spending on rehabbing.

The realtor wants the nicest home to sell so spending more makes it easier in most cases. In these type of cases usually the realtor is not in the business and do not do investment real estate themselves. If they did have the knowledge then they would understand what needs to be done and what doesn't. Example Flooring in a $50,000 is going to be different than a $250,000 home. If you put the flooring in that you would a $250,000 home in the $50,000 home you've spent to much money. Easier to sale but the clients pockets don't get filled that way.

The investor that spends to much money on investment properties usually does so because they are making the home like their own. That's were a good realtor that understands investment real estate steps in and explains the type of client that will be buying that home. They will also know what the home needs and doesn't. I usually take my clients to other listings in the area so they can see what needs to be done on that home. You will also get you competition in that area.

The retail market is the samething a good realtor will know the areas and listen to the clients. For example a couple I took out that bought a $600,000 home liked the grandest looking home in the area. The inside was important but not as important as outside. I sent my wife out to show them the first batch of homes. She got back and showed me the narrowed list.

I went through the list and looked at the ones that they didn't want and noticed that the home fit all their perimeters. I told my wife to show them that one and they would buy it. Knowing what your clients like and dislike is a major reason that some realtors are sucessful and some aren't.

By the way the clients have lived in that home for 3 years. Again make sure you pick the right realtor for whatever type of property you want to buy.

Brett Young Valley Realty http://sites.google.com/site/rooftopproperties/

Make sure you have an end game

When you are investing in real estate, understanding the different markets will make you more profitable in the long run.

Our company allows you to buy in three states that vary in their prices and profits. For example; Ohio offers homes vary from $25-$50K remodeled in Michigan $25K Remodeled. Phoenix is a little different there is a vast spread on the prices and areas you can buy. The prices I recommend range from $35,000-$150,000 in Phoenix.

Buying the property at the right price is only the first step. Remodeling right and in budget is the most important issue in investing. I've seen people spend so much money in construction and end up loosing in the end. Understanding construction is the most important thing in investing. My company has done 300 plus flips and undestand that the numbers must be right in this area. A home should take 4-6 weeks to get done.

When doing construction remember there is a difference in a rental remodel and a flip remodel. The rental should save you money. The flip would be more detailed and have more upgrades. Better flooring,paint, lighting etc.

The end game is important also. If your selling it or renting it make sure you have it set up and ready to go. If your selling have the sales price and verify it at least twice. Rents can be varified thru running a fake craigslist ad or a good property mangement company. Again we have all this taken care of for you.

In the end make sure you have you team in place and understand your end game with each property. Brett Young Valley Realty http://MyOptInPage2.com/?pid=5576497

Buying homes at the trustee sales and what is it?

When your buying a home at a trustee sale there are many things things that need to be considered. You usually have just a day or two to collect this information.

1. Make sure you know what lien you are bidding on. Some homes that you bid on are not the first lien, they are actually a second lien. So always be informed. You can find this information through a title company.
2. Make sure that you know if the property is occupied or vacant. If the property is occupied, you will have to have a plan to evict them once you own the home. Cash for keys usually works well.
3. Get a realtor to comp the property, and know exactly what you can sell it for. In the newer subdivisions make sure your comps are in the same subdivision. And if there are multiple builders, try to use the same builder if you can. I just listed a home that had this issue. The subdivision comps came up with a sales price $10,000 under what I wanted to list it for. However, after more research, the homes built by the builder of my listing sold for $10k more than the other builders in that subdivision.
4. Know your construction cost. You may not know exactly what your total costs will be, but you should have a good idea.
5. You are usually responsible for the back taxes on the property. Getting a preliminary title search from a title company will inform you of any back taxes.
6. Know the days on market for your property. Keep in mind you need to own it for at least 90 days for FHA financing. You can get conventional or Va financing immediately.
7. Always look for the properties that has a minimum bid that you like and or no minimum.
8. Always get a good Idea of the spread (difference of all your cost - the sales price) so you can have a pretty good idea of what you can make on that property.

These are a few things that need to be considered when buying at the trustee sales. You will get the lower prices at these auctions. Tha MlS can also get you the same type of result it just takes longer to get.

I do have a great program that is totally turn key and will do all this work for you. just sign in below. Just email and say I want the Turn Key Trustee system

mailto:lowcosthomes51@yahoo.com

Brett Young Valley Reaty

http://www.rooftopinvestment.com/

Knowing the true value of real estate

There are a lot of ways that you can value real estate. They may not all be right but they are used. Zillow is a website that comps (sold homes) homes and comes up with a price. The problem with Zillow is it does not take into consideration of the condition of the home. Also was it a short sale, forclosed, retail, tax, trustee sale. You need to know that to get a good idea of what your home is worth.Other things to consider 1-2 bath or more. Garage, no Gargage-Fixup, not fixed up....and much more. Zillow does not take that into consideration.The other way some people do it is thru their friends. They tell them what homes are selling for in that area and boom thats it. I had a listing once that I comp'ed (value of sold homes in that area) and the client had talked to a neighbor. This neighbor had went to some open houses recently in a luxury high end area. He for some reason noticed the bathrooms in these luxury homes and informed my potential client that his bathroom was nicer than any luxury home bathrooms. Therefore his conclusion was that his home was worth 3 times more than any other home in that subdivision was worth. I didn't take the listing.The right way and my only way I do value a home, whether it's an investment home or not is thru MLS (multiple listing service). Realtors are the only ones that have access to this but it's the best information you can get.You need all the details. For example condition, Sq ft, bedrooms, bathrooms,what type of sale is it, and you want the property in the same subdivision or 2 miles radius of that propetry. You want to see the Days on Market and the sales price. You may want to drive the area and see if the lower prices ones are by apartments, busy streets, commercail etc.When you get all these facts you can easily make an informed decision on what that home is worth in todays market. This will help you make money on your home whether you are living in it or if your an investor.One other important tip I should mention if you are an investor is to watch the square footage. Why? Flooring is usually the most expensive part of rehabbing a home. So I like to keep my investment homes around 1100-1800 Square feet. Less fixup more money for you as an investor Brett Young http://www.wealthbuilding.com/

Learning the internet that easy way

A firm knowledge of the internet is necessary for a successful future in Real Estate. Knowing where to find the answers to your questions is going to help you make the right decision. Also, understanding that your real estate business needs a web presence is crucial. However, being on the internet is not the only answer. You have to be able to drive traffic to your website through comprehensive marketing. You need to learn how the search engines like Google, Yahoo, Bling work, and what you need to do to market there. Some great classes are available on the subject. I'm learning how to market my business at http://listbuildingclub.com?AFFID=21723. This site will teach you many great things through an easy to use format. The course I took, guides you through all the details in over 100 short lessons. The great thing is their lessons are easy to follow and helps you learn ways to maximize your income.One of the first things I learned about was blogging. I now know exactly how to get stared and how to promote my blog(marketing). My blog currently has almost 400 readers. It really helps me get the word out about my products and services. And it lends me a means in which I can communicate directly with me target market. The http://listbuildingclub.com?AFFID=21723 will also teach you easy ways to create squeeze pages and how to market them. My squeeze pages have helped me capture many targeted email address. A solid email contact list can help you grow your business fast. If you have a great service, a squeeze page can easily be created around it. One of my squeeze pages is http://myoptinpage2.com/?pid=5486077. Check it out!I've done millions of dollars in real estate as a result of my web presence. Marketing on the web will give a heightened visibility to your business. Instead of hundreds of potential clients you might reach through traditional marketing, the internet will allow you to reach millions.So if you want to kick start your business through the internet then http://listbuildingclub.com?AFFID=21723 is your best bet. You will even learn how to use HTML on your sites! Brett Young http://www.wealthbuildingequity.com

Understanding your client can make or break your business

There are many different types of real estate clients, all with varying goals and interests. Understanding what your client’s goals are can make your business very profitable. I've probably seem them all in my 24 years in this business. Here are three typical examples: (I’ve changed their names to protect the guilty. Ha!)Roy is a current client. He has purchased 5 real estate investment properties through my program. At my very first club meeting, (only 3 people showed up), my advisor at the time told me that Roy didn’t have any money, and to not waste my time on him. But, experience has taught me to never underestimate anyone. So instead of just glossing him over, I spent time with him and his wife at Starbucks. They explained their finances, and what their investment goals were. I matched them up with some great investment properties. Today, they are very happy investors and one of my best clients. Another investor at that same meeting had a lot of cash. I will call him John. My advisor suggested that I focus on him. I consulted with John and his wife also. Their investment goals did not fit well with my program. They were looking to get rich quick. I have a much more conservative approach. At any rate, they did end up buying a home from me. I also got a listing from them. Even though our philosophies differ, I still have a good relationship with them. You never know, our relationship could develop into something more in the future.
The last type of investor was again at the same meeting. Let’s call her Mary. Mary was a young lady who wanted to buy investment real estate too. She looked promising at first. After over 10 meetings with her, she ended up putting one in escrow. Then over the next excruciating 6 weeks, and what seemed like endless meetings, she backed out of the deal on the day of closing. Mary ended up wasting my time and that of my team. Time I could have been spending with clients serious about buying. These three types of clients all wanted to buy real estate, and had the means to do it. I ended up making money on two of the clients, and nothing on the last one. My focus quickly went to the clients like Roy. His was a serious buyer with goals that matched my program perfectly. He wanted low cost, cash flow properties with substantial equity. And that is what my program offers. Most real estate investment clients are awesome to work with. However, it is very important to know exactly what their goals are. Don’t be afraid to ask pointed questions like; ‘What is your purchase time frame?’ and ‘What is your exact budget?’ You may also want to get your fee up-front to see just how serious a buyer they are. Spending more time with viable clients and weeding out the questionable ones, can help your business grow much faster. Brett Young - Valley Realty http://www.brettayoung.com/

Things you need to know about your own business

Starting your own business in real estate can be tough if you don't have the right tools. I'm going to gear my, “Starting Your Business”, series toward investors and real estate professionals. There are three common problem areas when starting any business. They involve emotion, confidence, and lack of follow up. The emotional part is maybe the hardest. As with most small businesses, you are the key representative. It is you and the public’s perception of you that can make or break your business. If you allow your emotions to take the lead this may affect what a client thinks of you and your business. For example, if you’re upset about a family, business or any other matter, shelve it when you are talking to a client. Think of that conversation as a business transaction. Business is business, personal issues have no part in it. You might be saying, “Wow, that’s impossible!”. Not if you want to succeed. Statistically, that client will mention you to at least 2-3 of their friends or acquaintances. What they get from their interaction with you will echo on and can have lasting effects. As a real estate professional, you are going to have some bad days, that's life. But don't get so emotional that no one wants to do business with you.Confidence is also very important to making it in your own business. Getting up every day and hitting the ground running is so essential to you success. I get up each day with one thing on my mind, ‘What can I do to marketing my company today’. If I do not generate new business every day, I will fail very quickly. You are probably wondering what this has to do with confidence? In business, getting sales and new leads gives you the confidence to keep going in the real estate business. The more business you do, the more money you make, and the more confident you become.The last thing I will talk about is follow-up! Follow-up is key to both getting new clients and retaining old ones. Always keep in contact with your clients. Touch base on a regular basis. I do that through monthly meetings, my website, newsletters and email. Follow-up is especially important with new leads. Make sure to call or email all your new leads. And give them a personal touch. Let them know that you truly care. Once they know you are invested in them, you will be surprised how many will convert. Taking a few extra minutes to do this is always worth it. You never know when they will respond. I had an opportunity that I blew off. It was a short selling. I thought it would just take up too much of my time and that the money was not worth it. I was wrong. I discovered that my friend had a short sale system that works very well, and it would take very little effort from me. That business opportunity has since yielded 4 listings and the possibility of making $12,000-$25,000 extra. So following up in your real estate business will get you more business in areas you may never have known about. Brett Young Valley Realty http://www.brettayoung.com/