Beginning Real Estate Investing

Ranked #21,136 in Education, #434,260 overall | Donates to Squidoo Charity Fund

Do you want to quit your stinkin' day job and invest in real estate?

I thought that's what you'd say!

Listen... there's a ton of free and inexpensive info on the internet, and lots of people who can help you get where you want to go. I'm one of 'em!

Check out my links, read the articles, surf around, and check back often for updates, ok?

Send me YOUR article. If I like it, or I think others will, I'll put it on the page!

And remember... sometimes it's OK to be a pig. 

Blessings,

Tom Dunn

Books For Beginning Investors

A Selection of books for real estate investors... vote on your favorites and add more. Together, let's make this a great resource for real estate investing success!

Fix 'em Up, Rent 'em Out: How to Start Your Own House Fix-up & Rental Business in Your Spare Time; or, Investing in Real Estate and Creating Wealth with Fixer-Upper Houses by Terry W. Sprouse

Fix 'em Up, Rent 'em Out: How to Start Your Own House Fix-up & Rental Business in Your Spare Time; or, Investing in Real Estate and Creating Wealth with Fixer-Upper Houses by Terry W. Sprouse

This book describes how to get started repairing h more...0 points

Unlocking a Mystery - Three Paydays From Each Deal

Part One

It's been said that pigs get fed and hogs get slaughtered. I disagree. I believe a little hoggishness is a good thing, especially when it comes to your bottom line. As long as you make sure that all parties to the deal are getting what they need, you should never feel guilty about trying to maximize your return.

There is a way to get paid not once, not twice, but three times from each real estate deal you do. Let's examine...

First, you place an ad in the paper seeking a motivated seller. The ad might read, "I Will Buy your house or take over your payments." You get calls and finally a truly desperate seller calls. He needs to sell RIGHT NOW and you're his last hope. The reasons don't matter, but the motivation does.

You immediately skip over to his home with all haste, and negotiate an "option to buy" price of $120,000 for his property, which has a market value of $155,000. After inking the deal at his kitchen table, and agreeing to pay him a monthly lease payment of $900, you place a "Rent With Option To Buy" sign in front, and several more around the neighborhood.

It takes a couple of weeks, but soon you get a buyer who has marginal credit, but a good job and $5,000 cash, which you collect from him as a non-refundable option fee. That's PAYDAY NUMBER ONE. You sign a lease option contract with your tenant/buyer to lease the house to him for $1150 per month. Every month you will realize a $250 positive cash flow. That's PAYDAY NUMBER TWO.

(Continued below in Part two)

New Guestbook

  • focused007 May 24, 2011 @ 10:35 am | delete
    I Like Lens! I especially like the Add YOUR favorite Real Estate Investing Links section...great added tool to your lens. Thanks The REI Wealth Network
  • mariellebelaus May 3, 2011 @ 2:18 pm | delete
    Very interesting points you have noted , thanks for putting up.
    Kuba Jewgieniew

Great Stuff on CafePress

Loading

Unlocking a Mystery - Three Paydays From Each Deal

Part Two

(Continued from above)

Your tenant/buyer also signs an option agreement, and you give him the option to buy the house within 12 months for $165,000. When and if he exercises his option, you will exercise yours with the seller for $120,000, and put the difference of $45,000 in your pocket for PAYDAY NUMBER THREE.

As soon as you find the buyer you return to the seller and tell him the great news. Now is the time, at the height of his excitement and relief, to have him sign all the transfer documents for the sale of the home. This is your protection. You will not file these documents unless and until it becomes necessary, but you will have them, just in case%u2026 in case something happens to the seller, in case he just has a lapse of memory, in case pigs fly.

You will also begin immediately assisting your tenant/buyer in repairing his credit and finding a mortgage broker who can help him obtain the financing necessary to exercise his option and buy the property. These are the things that will set you apart and make you successful. These are the things most investors don't take the time and effort to do.

It's called going the extra mile, and it's what makes you an investor rather than a hobbyist. It's also what helps you get fed like the hog you are. Good hog.

Now, go make more offers!

Best of the Real Estate Blogs from Google

So many blogs... so little time.
HOOPP named Best International Real Estate Investor, wins three other I&P Real ...
TORONTO, May 29, 2012 (BUSINESS WIRE) -- The Healthcare of Ontario Pension Plan's (HOOPP) real estate...
Clairvue Capital Partners Finishes Investing Clairvue Capital Partners I and ...
Need for recapitalizations of real estate vehicles drives firm's growth; more hires planned. San...
Lowe Enterprises Investors, The Guardian Life Insurance Company of America and ...
Lowe Enterprises Investors provides real estate investment management services on behalf of a select...
Real Estate Investing Opportunities to Buy Investment Property Now Offered at ...
Real estate investing opportunities to help investors buy investment property are now offered at JacksonvilleWealthBuilders.com....

YouTube Real Estate Stuff

Loading

Best Real Estate Investing Websites

"If it's free, it's for me!"

by

TDunn

I undestand why you want to invest in real estate... unless you're a crazy person. Then I probably don't.
Ask me for help... I'll do what I can!
more »

Feeling creative? Create a Lens!