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Real Estate News For Real
Determining Maximum Purchase Price (MPP)
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The question I get most often from new investors looking to break into flipping or wholesaling is, “How do I determine the maximum purchase price I should pay when trying to buy a property I plan to rehab or wholesale?”
Most investors have some quantitative analysis technique they use for determining their maximum purchase price (MPP).
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| (Published: Wed, 10 Mar 2010 19:19:36 +0000) |
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Loan Modification
How to Identify Bad Credit Cards
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What you know about spotting bad credit cards can definitely help you especially if you are in the position of trying to fix or repair your credit. Learn different ways to identify bad credit cards and you will be one step ahead when it comes to your financial future.
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| (Published: Sun, 22 Nov 2009 07:13:50 +0000) |
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Real Estate Leads
Generate real estate leads using direct marketing
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The are endless types of direct marketing that can all be used to generate real estate leads for real estate investment companies. Each type of direct mail is used to attract different types of real estate leads and to market different types of real estate solutions.
Direct mail can create real estate leads fast if used effectively. However it can also be a huge waste of money if you chose campaigns that don’t work.
Some common types of direct marketing are: direct mail (post cards, mailings, all in one mailers), direct email, personal selling, and telemarketing.
In order for direct mail to be effective at generating real estate leads it has to make an impact. You want potential customers to look at it, not think of it as junk mail.
Once the homeowner reads it, you need them to take a specific action. The direct mail should make it easy for the motivated seller to respond to the offer. Follow up is integral either by sending additional mailers or telemarketing.
To perfect your direct mail marketing plan geared towards generating real estate leads you need to answer these 5 questions:
1. Who will you target?
2. What do you want to say?
3. What format should you use?
4. How will you follow it up?
5. How will you track the results?
All marketing should be tested in smaller markets to learn the return on investment. If you can’t seem to perfect your marketing system or if you want to save time and money have Wehavehomeleads.com generate quality real estate leads for you.
To learn more visit www.Wehavehomeleads.com.
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| (Published: Mon, 03 Aug 2009 18:37:00 +0000) |
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Foreclosures
Condo associations ramp up foreclosures on delinquents
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Without the threat of foreclosure, HOA dues would be optional, leaving homeowners who do pay with the responsibility for covering their neighbors' share of common charges like water, insurance, landscaping, and maintenance.
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| (Published: Sun, 14 Jun 2009 07:00:00 -0700) |
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We buy all homes cash
When can you buy a foreclosed home?
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As a real estate investor you can buy a foreclosed house at three stages in the process: pre-foreclosure, at public auction, and post foreclosure.
Pre-foreclosure is usually when the house is for sale and the owner is behind on three or more payments. If the homeowner doesn’t attempt to rectify the situation the bank will record a notice of default. At this point the homeowner is usually a motivated seller but is also panicked and in some denial about the situation.
Public Auction is the next step at which an investor can purchase the foreclosed home. This happens after the notice of default has been filed. Then the court sets a date for the foreclosure auction sale to take place. The day of the auction, the public is invited to attend. Typically, it is held outdoors on the steps of the courthouse by a sheriff or county clerk. The starting bid is usually the amount of the balance owed on the property along with the fees and court costs associated with the loan. If the starting bid does not win any bidders the price can decrease. The home is bid off in thousand-dollar increments and sold to the highest bidder.
If the foreclosed house for sale at the auction does not get a buyer the property is taken back by the lender. This is known as post foreclosure. Homes for sale in this situation are know as REOs for "real estate owned". REO houses for sale are usually given to a broker. At this point the house for sale generally is listed at fair market value.
There are positives and negatives about buying foreclosures in all three stages of the process. It is possible to make a profit in all three stages as well. However, it is typically easier to arrange to buy out the motivated seller’s equity and/or take over their payments at a rock bottom price. For investors the most time efficient and profitable stage is pre-foreclosure.
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| (Published: Thu, 11 Jun 2009 17:11:00 +0000) |
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Foreclosures Real Estate
Why Short Sales May Be a Viable Option
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Unfortunately, there may come a time in our lives where will face the fact that it may be best to 'cut our losses and run'. This couldn't ring truer for those who find themselves unable to afford their mortgage and who are on the verge of losing their home. If you find yourself in this position, understand that there is help for you, and it may be in your best interest to consider a short sale on your home to avoid the risk of foreclosure.
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| (Published: Fri, 29 May 2009 15:42:15 -0500) |
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