How can my visit to Eviction Court benefit Real Estate Investors?

4/4/2010

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I had the unfortunate circumstance of having to evict one of my tenants.

Yes, it does happen to even experienced real estate investors :-)
The good news is that this is my first one in 5 years! Not too shabby, but I hated it either way. It's just not my nature to do such things.

Anyway, while I was there a couple of things transpired that I thought was interesting and applied to real estate investing- especially to newbies.

Here's what happened: Many of the defendant/tenants didn't show up- including my tenants.

And this is what the Judge said: "Personal Service- they had every right and opportunity to be here but they CHOSE not to do so".

Hmm. They had the right and opportunity but didn't do anything.
They didn't even give themselves a fighting chance.

On the flip side I saw a little lady (with a little coaching from me hee hee hee) stand up to the attorney of a major bank who was evicting her out of her own home after what I felt was a wrongful foreclosure.
Guess what? She won! She bought herself a stay and a fighting chance.

So guys which ones are we?

Are we the ones who didn't even give real estate investing a chance. Perhaps just taking classes and never really even getting out there and making mistakes, making offers, and trying to get at least one small deal done?

Or are we like that little lady who with a little coaching, beat the odds by showing up and just DOING Something?

Remember, you don't have to hit a homerun every time. Give yourselves a fighting chance. Do something each day to bring you closer to that first deal.

You can do it.

I've seen it happen with my own eyes

Your friend,

Dennis
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FREE LIVE Q/A Investor Panel in Houston March 11th

3/9/2010

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Special Announcement!
I'm gathering a bunch of my buddies this Thursday- March 11th to my training center in SE Houston. They're great real estate investors in the Houston- Texas area and here's what they want to do:

They want form a panel of real-world investors and have you throw all you real estate investing questions at them. Anything you want--- and check this: For FREE! Want to know what really works, and what does't in REI? Want to fill in the gaps of what you were studying from some REI Guru home study course? Wanna run a prospective deal by an experienced investor? Here you go.

Did I mention we're having cokes and Pizza too. I know I know just in time for bathing suit season.

Anyway, you're welcome to come and meet these guys and gals and me too.

Again, it's this Thursday March 11 at 6:30pm. at our training center. 6200 S Wayside Houston, Tx 77028. 713-481-2542 or 713-477-5950
See pics of our training area- use the tabs above.

See you there! Why wouldn't you go?

Dennis

[email protected]
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Investors- don\\\'t get caught upside down on your next deal!

3/4/2010

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Now the question is, how do you do that?

Folks have been getting appraisals for years. While they are helpful and many times necessary, real world real estate investors know you have to do your homework as well.

You can make sure your numbers on the value of the property you're buying by doing this. It's quick, easy, and FREE.

Here's what you do:
Find the "area specialist" for the neighborhood your prospective investment property is in. You do this by finding the person that has sold the most houses in that area in the past 6-12 months. Contact them and put them on your side, possibly hinting at letting them sell your home when you're ready.

These folks are the experts. They know what the neighborhood is like, and the price changes from street to street. You can't get much more accure than that.

Hope it helps

Dennis

Wholesaling
REI A-Z
Bird Dogging
Rehabbing
Tax Lien Investing
Deal Funding
Loan Modification
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The housing collapse. Sub prime not to blame?

3/2/2010

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Housing watch posted an article showing that although the sub prime meltdown had a role in the housing collapse, it was actually downfall of REPO - Renew Sale and Repurchase. This is a $20 trillion unsecured market in charge of collateralizing securities.

Once things started going down hill, REPO who is tasked with keeping money flowing took a dive as well.

Either way, as the author brings out- knowing what may have caused the collapse still doesn't make anyone feel better.

The problem is that all of us have a part to play: from bankers, to buyers, to real estate agents, appraisers, brokers, and real estate investors.

Everyone was just thinking that things would always continue on the way it was going, when in fact it was too good to be true. People were lying about how much money they made, appraisers were puffing up the actual value of the properties and builders were over building and everything was over hyped.

It really is time to live below our means and think before we make large purchases such as these.

For now, homeowners to have options and real estate investors do have an important role in moving all of this housing inventory.

Dennis

For real estate investors, handling your business the right way is essential to prevent your own mini housing collapse.
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How can real estate investors boost their deal done ratio?

3/2/2010

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I read an article at http://ow.ly/1dfh7. It was really a testimonial of a seller in Austin, Texas that couldn't sell their home and went with a real estate investor/professional who did the deal and did it right.

What stood out to me was how the real estate investor provided the home owner with 3 options with which the house can be purchased.

This is genius! There is not a "NO" option here at all!
The seller can only pick from three different options, that will sell the house to the investor.

Best thing about it that we can learn is that the investor LISTENED to the homeowner's needs which were the basis for getting this deal done.

Very nice work.

Dennis

Real Estate Investing A-Z
Talk to me live and get your questions answered CLICK HERE
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Is your Real Estate Investing Mentor a good one?

2/8/2010

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I get this question often from newbies wanting to get started and feel that they need a mentor to take things to the next level.

I would start by going to the local real estate investors club. You can search here at creonline, and I also have a link on this site where you can search by state and city. Ask around. See who your local investors recommend.

Your mentor should not only be teaching but doing as well. He should being currently doing deals, and perhaps should be able to show you part of his portfolio of houses he controls/owns.

He/she should have a systematic way of moving you along your career that starts off with profitable- low risk strategies such as bird dogging and wholesaling and then gradually moving you from there.

Don't put too much money down up front. Take some basic classes- followed by a stand alone class such as wholesaling and start making money from there using some of your profits and experience to finance your further education.
 
Dennis
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