Archive for April, 2012
Driving For Dollars – Following the Signs to Great Real Estate Deals
Posted on April 3, 2012 by
Driving for dollars. Is this a game show, with the host saying: “Good evening, ladies and gentlemen. In tonight’s edition, we have…” Seriously, you can make a lot of money at this “game”—my favorite source of finding good deals in real estate.
Pick a neighborhood that interests you, e.g., in transition, being fixed up, near a river, and so on. Drive around it slowly and write down at least 20 addresses of neglected, vacant, or condemned homes. Often, they’re sporting signs saying For Sale, For Sale by Owner, or For Rent.
Next, contact the owners. You may have to be persistent and call and call to find their numbers and reach them. You can contact the Registrar of Deeds, get on the Internet, and go to the local tax records office. Ask a realtor to look them up on the MLS computer. Once you find them, call or write them to learn more.
Houses with Motivated Sellers: How do you tell if a house or property might be owned by a motivated seller? Look for the following characteristics: Read More→
What is Creative Deal Structuring?
Posted on April 3, 2012 by
One of the hot topics in real estate investing these days is something called creative deal structuring. This leads to a question that we’re often asked: What exactly is creative deal structuring?
To answer this question, we need to begin by describing what it’s not. One way you can buy a property is to pay cash for it. You won’t find any creativity in that deal structure. You can also find a property you like, apply for a mortgage, and then a month or so later, go to an attorney’s office to sign a big stack of hard-to-understand documents. Not much creativity there either.
Creative deal structuring begins when you find someone with a real estate problem that “normal” solutions can’t resolve. For example: A homeowner owns a nice home that in 2006 was worth $130,000 but today is only worth $70,000. She owes $80,000 on her mortgage – making her upside down by $10,000. Now throw some motivation into the mix – the lady needs to sell immediately so she can move to Tennessee and begin her new life.
Let’s see, a cash buyer wouldn’t be interested in this deal. And you’d be hard-pressed to find a realtor who would list this house – unless it’s a short sale listing. So how would you structure this hopeless situation? Read More→
Seminar with Peter Fortunato, Dyches Boddiford, & Bill Cook on April 14, 2012
Posted on April 1, 2012 byPeter Fortunato, Dyches Boddiford, & Bill Cook present
Seats are limited. REGISTER NOW!
Pete Fortunato, Dyches Boddiford and Bill Cook, who combined have nearly 100 years of Creative Real Estate Investing experience, will present their full-day, one-of-a-kind What Box? – The Seminar
THE STORY:
This nothing-like-it-before seminar was brought to life with a phone call. Bill called Pete with a question about a complicated deal he was working on. A few days later, after getting it closed, Bill sent Pete a nice letter thanking him for his terrific thinking-outside-the-box advice. Pete replied with a simple, two-word email. It read: What Box? It was classic Pete!
THE LESSON:
All deals are possible – There Is No Box!
As an investor, what is your most valuable tool? Imagination! And imagination will die if kept in a box – if you’ve been in a government building, then you know what we mean. To thrive, your imagination must be allowed to run free so it can create new ways of structuring win-win deals.
A lesson to remember: Deals aren’t found. Opportunities are found; deals are structured!
One of the biggest problems investors face is trying to put together a deal using boilerplate thinking and boilerplate documents. Sadly – for most investors – if the square peg doesn’t fit in the round hole, they give up on the deal. Their inside-the-box thinking keeps them from achieving the huge level of success that’s right at their fingertips…if only they would…..
What Box? – The Seminar is about helping you see different ways a deal can be creatively constructed without using institutional financing. It’s about you realizing that there is no box!
Why attend this seminar? Combined, Pete, Dyches and Bill, have been investing in real estate for nearly 100 years – that’s a ton of real-world experience! If you want to learn how to do your deals better, if you want to be able to make the impossible deals possible, then this is your gotta-be-there-event!
We’re looking for serious real estate investors who are ready to move to the next level – who want to see what’s behind the curtain. Is this YOU? We only have 80 seats. When they’re gone, they’re gone…and they’ll be gone quickly! Read More→
