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Are you using facebook, twitter or linkedIn?  If not, you should be!  There are millions of people who can

and will help you in your real estate business by simply connecting with them on some of these sites!

My 13 year old daughter is on facebook all the time…and I thought that it was just for kids!

Not [...]]]>

www2.gotomeeting.com/register/1599415

Are you using facebook, twitter or linkedIn?  If not, you should be!  There are millions of people who can

and will help you in your real estate business by simply connecting with them on some of these sites!

My 13 year old daughter is on facebook all the time…and I thought that it was just for kids!

Not exactly…

Social media is growing faster than anything else right now an if you want to find buyers for your properties…they are there!

If you want to find private lenders they are there…

Want to find great deals?  they are there…

So join me on Monday afternoon while I interview my friend Natea again who is a

top expert on LinkedIn Strategies. He does an incredible business using LinkedIn alone! Grab your spot here:

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Are you using Virtual Assistants to grow your business? I am and I have grown my business 80% in 3 months with their help!  I am a Real Estate Investor and I use my VAs to find buyers and sellers and to help me grow my buyer’s list, post Ads up on Craigslist and a ton more tasks that take me away from what I should be doing and that is FINDING DEALS!

Sign up here for a 40 Hour Free Virtual Assistant. Try before you buy! No obligation:  clubwealth.infusionsoft.com/go/enroll/nancygeils/

One of the rising stars when it comes to real estate investment is known as ‘flipping’ properties. This works by buying properties that are in need of either minor cosmetic repairs or in need of serious renovations, doing the work, and selling the home for a much greater price. In theory this brings in a [...]]]>

One of the rising stars when it comes to real estate investment is known as ‘flipping’ properties. This works by buying properties that are in need of either minor cosmetic repairs or in need of serious renovations, doing the work, and selling the home for a much greater price. In theory this brings in a significant amount of profit in a rather small amount of time. This is the case for many who attempt to flip properties but it takes a little more than the idea in order to make the process work. For this reason, there are many who end up sacrificing profit or losing money in the process when plans aren’t well conceived.

If you are considering a future in real estate investing, this is one of the quickest ways in which investors can turn a profit. It is also a method for bringing in high profit in a short amount of time. Unfortunately, this once closely guarded secret has gained some degree of infamy and there is fierce competition for the undervalued properties on the market as more and more would be investors decide to throw their hats into the collective ring.

To learn more go to www.investingwiththestars.net/season3 Join our free training!
If you are considering real estate investments in general and house flipping in particular there are some things you should keep in mind.

1) Treat this as a business rather than a hobby. Far too many investors do not take their investments seriously. This is a mistake because in this business time is money and every month that the house isn’t sold is a month that the house is costing you money. Create a plan, make a schedule, and stick to them both.
2) Remember that this is a business. You are not investing in properties to make friends or seem nice. You are in this business to turn a profit. You cannot be timid about making low offers. The ability to buy low and sell high is the lifeblood of this particular business. This means that you are quite likely going to hurt feelings and make people angry (because they often place emotional prices to their homes that are simply not economically feasible). If you cannot deal with this reality then you are going to have some degree of difficulty gaining the high profits you are seeking. Nice guys finish last and you can’t really afford to do that in this line of work.
3) Pay attention to the market. This is vitally important. Many ‘flippers’ lost their shirts in the recent near collapse of the housing market around the U. S. The truth of the matter is that the indicators have been building for years. In cities where there was once a shortage of viable housing options there are currently surpluses. This does not drive the value of properties down so much as it brings them back to their proper values. Investors that were counting on an ability to sell above the actual value of the property were left holding the bag (or rather notes) on these properties for quite some time until they could be sold. Some never managed to sell these properties and were left dealing with the expense in addition to the costs of the upgrades. Do not buy in an inflated market if it can be avoided unless it is during the very beginning of the inflation (before property developers have the opportunity to create a surplus).
4) Do not allow it to become personal. Far too many first time house flippers decide to create a work of art rather than a business investment. It is tempting when making cosmetic and structural repairs to go ahead and create a dream home. The problem with this is that depending on the particular market you are unlikely to recoup the costs involved in doing so. The goal is to invest little and profit large. Granite countertops are lovely but not at all necessary in a neighborhood filled with those of humble means. Cater to the tastes and budgets of your target market rather than your personal tastes.

Despite the risks involved in flipping houses as a real estate investment there is no denying that fortunes have been made doing just that. Even in the current housing market there is a great deal of promise available to those who can do the work quickly and inexpensively. People still want to buy these lovely homes rather than buying a home that needs to be made over after the price of purchasing.

As an investor you must have a good formula for determining the right price to pay for any house so you can make a profit. Without it you are rightfully scared to make any offers. As a wholesaler, here’s what I use here’s what I use for single family homes for rehab:

The (MPO) Maximum [...]]]>

As an investor you must have a good formula for determining the right price to pay for any house so you can make a profit. Without it you are rightfully scared to make any offers. As a wholesaler, here’s what I use here’s what I use for single family homes for rehab:

The (MPO) Maximum Profitable Offer is calculated by first determining what the house will be worth after renovation – the ARV (After Repaired Value); less the rehab dollars required; less the Buy/Sell/Hold (B/S/H) costs; less profit for the rehabber less the Assignment Fee (your profit as a wholesaler). Note: If you plan to rehab the house yourself, just delete the Assignment Fee from the formula.

MPO = ARV – Rehab – B/S/H – Investor Profit – Assignment Fee

So let’s break that down a little further. To determine the ARV, study comparable sales data. Comparable sales are those properties which sold in the last 6 months to 1 year, and within ½ to 1 mile from the subject house – the more recent the comps and the closer to the subject property the better. But other factors must be considered as well. The more characteristics between the properties that are similar, the more valid the data.

Make sure that the house itself is similar in square footage, bedrooms and baths, age, style, and architecture. Don’t worry about condition except as it will affect the amount of rehab dollars required. Next, look at the neighborhood and the individual street. Do they look the same? Or is the comparable property on a beautiful street while the subject property is on a street riddled with empty littered lots and boarded up houses? The point is to view the potential investment as your end homeowner occupant will. If they could buy your completed investment on the bad street, or a house on the beautiful street – either for $150,000 – which would they choose? The other house of course. Which means your house is not worth the same – it must sell for less to attract a buyer.

Rehab dollars differ from renovator to renovator depending whether they do the work themselves, or use cheap subs, or use an expensive general contractor. The scope of the work should be the same – it is whatever is required to make the investment look like the comparable houses (unless the plan is to sell well under market value). I do not attempt to obtain all of the various contractor bids when I am making offers. All the real deals would be sold before I’d ever have an offer together! Instead I’ve developed ranges of rehab dollars based on the overall condition of the home. Is it an exact science? No, but neither are the bids – there will always be something missed. So why not work with a guide that is probably 90% accurate and allows for quick offers?

Buy/Sell/Hold costs include expenses such as appraisals, attorney fees, title search & title insurance, loan origination fees, debt service, utilities, insurance, taxes, real estate commissions, and closing fees paid on behalf of the end buyer. Again, these costs vary depending on each investor’s individual situation. In the Atlanta area, 15% of the ARV seems to be a good average allocation for B/S/H costs. If you are the renovator, calculate your specific B/S/H costs, then utilize that percentage for future offers.

Investor Profit is the amount you should leave in the deal for the investor buyer to make the deal attractive. Obviously the higher the better. In this current market the minimum is $25,000 and work up based on cost of the house and scope of rehab.

Assignment Fee is your profit in the deal. Don’t short yourself. You should use between $8-10,000 otherwise the deals won’t be worth it to you.

That’s it. That’s how you calculate the most you’ll pay for a property. But that’s not what you SHOULD pay. It is the maximum you’ll pay. It is the deal-breaker. You will not pay one penny over the MPO. Your negotiations should lead you as far below the MPO as possible. The difference in amounts is additional profit in your pocket. What you SHOULD pay is the minimum price below the MPO that the seller will accept.

Use this formula to make offers and you’ll never pay too much.

For more information on this go to www.flippinghousesrus.com

Even if you’re not “wealthy,” these principles pertain to you. Learn how to protect yourself and your family against lawsuits, liability, taxes, and other financial disasters.

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You will learn and the Topics will include:

* Lawsuit and asset protection

* How to become *legally* judgment proof

* How to become “invisible” to creditors

* How to avoid [...]]]>

Even if you’re not “wealthy,” these principles pertain to you. Learn how
to protect yourself and your family against lawsuits, liability,
taxes, and other financial disasters.

Go here right now >>> www.NancysWebinars.com/New

You will learn and the Topics will include:

* Lawsuit and asset protection

* How to become *legally* judgment proof

* How to become “invisible” to creditors

* How to avoid judgments and title claims on
your properties

* How to save hundreds of thousands in estate
tax

* How to deduct ALL of your medical expenses

* And much more!

To your success,

Nancy

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Go here for all the details!

www.milliondollarrealestateempire.com/10woolsley

This 5 bedroom, 2 1/2 bath house is for sale for $399,000. It has a beautiful new gourmet
kitchen with Cherry Cabinetry and Stainless Steel Appliances. Hardwood floors throughout
and open floor plan for great entertaining.

Located in a convenient neighborhood close access to 95 and Merritt parkway.

OPEN HOUSE SUNDAY, AUGUST 27TH from 1 to 4pm est. Join us for our event!