Author Archive
7 Strategies to Increase ROI on Keeper Properties by Reducing Vacancy
Posted on October 3, 2017 by
Here are my seven strategies to help increase your return on investment on keeper properties by reducing vacancy.
- Do Your Homework Before You Buy
Location, Location, Location… Search out the areas that have low vacancy rates. Talk to local realtors, property managers, and seasoned investors who have been renting units for over a decade before you take the plunge and buy a property.
For example, I want to own property where supply of rental properties is low and the demand is high. I own properties in a town where the schools are in the Top 50 Schools in America. Demand for rental property is high and my average days on market to rent are usually less than 2 weeks. Read More→
The Active Real Estate Investor vs The Passive Real Estate Investor
Posted on August 1, 2016 byAre you an active or passive real estate investor? This is the MAGIC question that all real estate investors should ask themselves on a regular basis, rather they know it or not. Let me explain.
Many beginning investors want to focus 100% on wholesaling and rehabbing so they can make the fast cash and big checks. They don’t want the headaches of toilets, trash and tenants. After all it feels good to take a rundown house and flip it to a rehabber and make a quick $5000 or $10,000 in a few hours or better yet tear it apart, fix it up and sell it to a first time buyer who will call it home for many years to come and you can make $25,000 or $30,000 plus in just a few short months.
Active investing can be addicting and a real adrenaline rush. Ask me how I know that. My nickname is the Rehab Queen and I have been rehabbing and flipping as an active income producing investor for over 17 years. I have done over 350 properties and those quick one time paydays have been great. But… Read More→
The Wealth Blue Print to Running Your Real Estate Business Like a Business
Posted on May 31, 2014 byDo you have doubts about being a real estate investor? Are you scared to make offers because you are afraid of making a mistake that could cost you tens of thousands of dollars? Are you having a hard time finding the time to grow your real estate business? If you answered yes to any of these questions then take the time to read this news article carefully.
My name is Robyn Thompson and I have been investing in properties for over 15 years. I have bought, renovated and sold 339 houses. I started my real estate business with $500 and I had to learn how to run a business like a business not a hobby. I learned a long time ago that successful real estate investors do things differently than the amateurs. I am going to give seven habits that all 7 figure real estate investors possess:
1) All serious business owners who make over 7 figures focus on marketing WEEKLY. We take marketing as serious as a heart attack because wealthy business owner know that marketing = revenue. No marketing means No profits. All you need to do to raise your income is make an appointment with yourself and put it on your calendar for one hour a week to focus on marketing to attract desperate sellers.
One measly hour a week without interruptions is all it takes to up your income by massive amounts. During the hour, you call realtors, order “We Buy Houses for Cash” signs for your car, execute direct mail campaign to out of state owners, landlords in the middle of evictions or attorneys who have desperate clients who need to sell and put an ad in the newspaper in the real estate wanted section. Read More→
How to Prescreen Contractors to Build a Dream Team to Get the Job Done!
Posted on September 25, 2012 byMany real estate investors shy away from the ugly house business because they fear hiring contractors. We have all heard the horror stories of rehabbers who loose their shirt because a contractor took them to the cleaners.
I am here to tell you that contractors can be your worst enemy or your best friend, depending if you hire a good one or a bad one. So how can the beginning novice real estate investor make the correct choice- the hard working team player that gets the job done on time, on budget and at a high standard of quality? The answer is by following all eight of the critical prescreening steps below.
1. Ask the contractor you are interviewing, how long they have been in the business? I prefer at least five years of experience in the trades. I want a contractor who has seen and repaired every strange, odd, and crazy thing that could be wrong with a house. Experienced contractors know how to estimate all tough projects and experienced professionals can give an accurate price to fix any problem.
Inexperienced contractors, on the other hand, under estimate repairs to get the business, and then they try to push their mistake on the home owner by upping the price half way through construction. The investor needs to say NO. NO is the most powerful word in the dictionary, and a rehabber needs to use this tool. If they did not have the knowledge to make a good estimate, it is there problem not yours. Read More→
How to Sell Houses in a Down Real Estate Market for Full Market Value!
Posted on September 5, 2012 byIs this depressed housing market making you nervous? Are you thinking that you can’t make money when real estate prices have dropped by as much as 50%? Do you think it is impossible to sell a house in today’s market? If you answered yes to any of these questions, this special report was written for you.
Many real estate investors are shying away from the ugly house business right now because they fear selling houses in a depressed real estate market. We have all heard the horror stories of real estate investors who lose their shirt because they get stuck with a property they just can’t sell or rent.
I am here to tell you that this does not have to happen to you, but there are nine rules you can never violate. Selling a house starts before you ever buy it. I start focusing on marketing strategies as I pull up in the driveway for the very first time, not after I purchased and renovated the house. Most untrained investors never focus on selling until after they have the property renovated and by then it is too late for most. Let me explain why in more detail. Read More→
Eight Strategies For Growing Your Rehabbing Business
Posted on July 30, 2012 byI have become financially independent renovating houses, and you can do the same; however, if you aren’t prepared, the process can become completely overwhelming. To help you avoid the pitfalls that are out there, I have developed eight key strategies to assist you in growing your house renovation business. If you are willing to learn from my experience, you will enjoy greater success much sooner.
While I was able to renovate 17 homes during my second year in the business, by employing the following strategies, I have grown my business to the point that I can, in today’s environment, renovate 40-50 houses per year. Keep in mind that I do an average of $26,000 to $50,000 worth of repairs to each of my houses, so these are not quick carpet and paint jobs.
Here are the eight key strategies to help you take your house renovation business to the next level.
Key Strategy #1: Develop The Ability To Take Action Quickly.
One of the most important elements of my success is my ability to take action quickly. In my area, the competition is tough, and if I procrastinate I will lose deal after deal.
If you want to “steal” a house, you’re going to have to be able and willing to act quickly when a good deal presents itself. If I go and look at a house that I feel is a good deal, I write an offer immediately; get to the point where you are able to do the same. Read More→
How to Prescreen Contractors to Build a Dream Team to Get the Job Done!
Posted on January 30, 2012 by
Many real estate investors shy away from the ugly house business because they fear hiring contractors. We have all heard the horror stories of rehabbers who lose their shirt because a contractor took them to the cleaners.
I am here to tell you that contractors can be your worst enemy or your best friend, depending if you hire a good one or a bad one. So how can the beginning novice real estate investor make the correct choice- the hard working team player that gets the job done on time, on budget and at a high standard of quality? The answer is by following all eight of the critical prescreening steps below. Read More→
