The real estate system provided by John Beck is really helpful to many in creating huge amount of profits. He has brought to light this system to the investors through his columns in the newspaper, books and web site. One may buy books written by him in order to understand this system better. These books include Tax Deed Edition Book, Real Estate for Pennies on the DollarJohn Beck Amazing Profits Book and Tax Lien Edition book, Free & Clear Real Estate Directory.
His information on the research of tax foreclosure is so accurate the one can't help using them. It is very important to understand the role tax play in buying and selling a property and if you have been able to understand that you can create huge profits. This is exactly what you get to learn from this system of John Beck.
Every report, every column and every book by John Beck has something very crucial to discuss and understand. A clear understanding of the basic principles which one should understand in order to make that place for him in the land market is quite essential. Also it is very important to understand various big and small issues concerning property market. It is important to understand the changing trends, what kind of property one should buy, what are the basic requisites for buying a property, what kind of property an investor can handle, will a cheap property actually bring out profits in the end etc.
John Beck has become so popular because he makes people understand the very basis of investing in properties. He lays emphasis one creating a network for self which is the basis for accomplishments in property market. Thus by creating network of investors you can buy assets in bulk and that too at discounted prices. This saves a lot of work that otherwise you would have had to put in.
There are various ways and means by which you can make money from foreclosure property. John not only makes the people aware about foreclosures but also enables them to do the research successfully through his websites, which provides the most accurate information about the real estate system. Hence you save a lot of time that otherwise would have been wasted on selecting the right source of information.
Here you get every information as his student and he makes you capable of understanding each and every in and out of property business along with sharing his experience of 15 years and his secrets to earn big profits in real estate. He makes every individual understand through his system that it is not only the property you have invested into matters. Along with the property, how much efforts you have put in matters a lot. Research is the key and understanding the neighborhood where you have bought the property plays a major role. if you have understood the system of John Beck, success would surely be yours.
Tuesday, September 29, 2009
Thursday, September 24, 2009
The Recession is Over, In Case You Hadn't Noticed by dane
The Associated Press reported recently that a new government survey indicates that the recession is over. Federal Reserve Chairman Ben Bernanke and analysts across the country say that the economy is showing growth again. However, what no one can predict is how deeply the so called Great Recession has permanently changed Americans' spending habits.
"A study by research firm AlixPartners concluded that once a new normal sets in after this recession ends, Americans will spend at about 86 percent of their pre-downturn level," a recent AP article reported. While the Fed expects business spending to increase in the next quarter, with a 3 to 4 percent increase predicted, it is consumer spending that truly drives the American economy.
This summer's Cash for Clunkers program will give consumer spending a little bump on the statistical charts, but those numbers may be misleading. Many consumers who spent money on cars did so in place of purchasing other consumer goods. Not to mention that a car comes with a car payment that will impact what funds people have available on a monthly basis, thus effecting consumer spending habits in the long-term.
Further impacting consumer spending is the fact that the national unemployment rate is at a 26-year high of 9.7 percent. It is widely reported that the rate is expected to reach 10 percent before the end of the year. While Austin's unemployment continues to be lower than the national average, consumers everywhere remain cautious about job security. The real estate market remains weak across the country, which is yet another thing to make the American consumer feel uncertain about the future.
As a Time magazine article recently pointed out, the ripple effect of one job loss can be felt across an entire community. When the economy is faltering and companies begin cutting back on jobs, either through layoffs or hiring freezes, it starts a brutal cycle. People begin spending less on eating out, for example. Restaurants bring in less revenue, which means less tax revenues for the city, less tips for the wait staff, less money going to suppliers and eventual layoffs in more business sectors. More job losses means less consumer spending and the cycle continues.
Sales tax revenues in Texas are down 11.6 percent from the summer of 2008, according to the Austin-American Statesman. Cities from Amarillo to Austin are having a tough time meeting budgets and are cutting back on services, like library hours and teacher salaries. Thus the cycle continues.
Normally as a recession ends, the cycle begins to change as both businesses and consumers start spending again. According to the AP this is what happened after the recession in the early eighties, helping to fuel the prosperity of the last decade. What is different this time around is the soaring housing market that had everyone feeling rich just a couple of years ago. When the housing market came crashing down, it left a lot of Americans deeply in debt in the rubble. So while jobs are scarce and incomes are down, personal debt is at an all-time high, more than doubling in the last decade (AP). Add to that the fact that the retirement funds of the large baby boomer generation have been depleted through the faltering stock market. The recession maybe over officially, but it left a new American consumer in its wake: one who is more focused on paying down debt and building retirement funds than in buying a new refrigerator or going out to eat.
"A study by research firm AlixPartners concluded that once a new normal sets in after this recession ends, Americans will spend at about 86 percent of their pre-downturn level," a recent AP article reported. While the Fed expects business spending to increase in the next quarter, with a 3 to 4 percent increase predicted, it is consumer spending that truly drives the American economy.
This summer's Cash for Clunkers program will give consumer spending a little bump on the statistical charts, but those numbers may be misleading. Many consumers who spent money on cars did so in place of purchasing other consumer goods. Not to mention that a car comes with a car payment that will impact what funds people have available on a monthly basis, thus effecting consumer spending habits in the long-term.
Further impacting consumer spending is the fact that the national unemployment rate is at a 26-year high of 9.7 percent. It is widely reported that the rate is expected to reach 10 percent before the end of the year. While Austin's unemployment continues to be lower than the national average, consumers everywhere remain cautious about job security. The real estate market remains weak across the country, which is yet another thing to make the American consumer feel uncertain about the future.
As a Time magazine article recently pointed out, the ripple effect of one job loss can be felt across an entire community. When the economy is faltering and companies begin cutting back on jobs, either through layoffs or hiring freezes, it starts a brutal cycle. People begin spending less on eating out, for example. Restaurants bring in less revenue, which means less tax revenues for the city, less tips for the wait staff, less money going to suppliers and eventual layoffs in more business sectors. More job losses means less consumer spending and the cycle continues.
Sales tax revenues in Texas are down 11.6 percent from the summer of 2008, according to the Austin-American Statesman. Cities from Amarillo to Austin are having a tough time meeting budgets and are cutting back on services, like library hours and teacher salaries. Thus the cycle continues.
Normally as a recession ends, the cycle begins to change as both businesses and consumers start spending again. According to the AP this is what happened after the recession in the early eighties, helping to fuel the prosperity of the last decade. What is different this time around is the soaring housing market that had everyone feeling rich just a couple of years ago. When the housing market came crashing down, it left a lot of Americans deeply in debt in the rubble. So while jobs are scarce and incomes are down, personal debt is at an all-time high, more than doubling in the last decade (AP). Add to that the fact that the retirement funds of the large baby boomer generation have been depleted through the faltering stock market. The recession maybe over officially, but it left a new American consumer in its wake: one who is more focused on paying down debt and building retirement funds than in buying a new refrigerator or going out to eat.
Monday, September 21, 2009
Divorce Law - The Intersection of Divorce and Real Estate Law - What Happens to Marital Domiciles? by David Slepkow
If husband and wife own real estate in Rhode Island and are getting divorced and have no minor children then there are many possible dispositions concerning the marital domicile.
The parties agree to sell the property
There may be negotiations during the Rhode Island (RI) Divorce concerning one spouse buying out their husband or wife's share in the property. The parties can agree to a single appraisal or hire their own appraisors. Some parties simply agree to the fair market value and do not need an appraisal. If husband and wife's appraisals are different then they can negotiate the fair market value of the property. After determining the fair market value of the property, the parties should look at all mortgages owed and determine the equity of the property. The equity in the property is the difference between the fair market value and all liens and mortgages. This article only pertains to divorce and family law in Rhode Island (RI).
The equity in the property will determine what amount the person who is refinancing should pay the other party to buy out their equitable share. At the refinance closing, husband or wife may deed the property by quitclaim deed. Upon transfer of the deed, the spouse will receive their agreed upon share of the marital equity.
If the parties cannot reach an agreement and there are no children, the property will probably be ordered to be sold at the Rhode Island divorce trial.
In some cases, one spouse may agree to take less then half of the equity in the property. This could be done for numerous reasons including: disparity in earning capacity, admissions of an affair or infidelity, offsets from other assets etc. Parties may also agree to a multitude of different scenarios which might include one party living in the marital domicile and refinancing in the future to buy out the other party's share. This usually involves the party who remains in the house granting a mortgage to the other spouse.
There is really no limit to the types of agreements that parties can reach and it is possible that the parties could trade off assets in which one spouse receives a different asset such as a retirement account in exchange for the other party obtaining title to the real estate. Be careful becuase there may be federal tax implications to such tradeoffs!
This can get tricky because a transfer of the property without a current refinance will not take the person who deeded the property name off of the mortgage and promissory note.The person who deeded the property without refinance must make sure that the other party actually pays the mortgage, taxes and insurance on a timely basis otherwise their credit could be effected.
You should seek legal counsel from a Rhode Island (RI) divorce and family law Lawyer / Attorney concerning all of the possible scenarios.
Division of the marital domicile when parties have minor children.
If both parties agree that one spouse should reside in the marital domicile with the minor child / children they can agree to a deferred sale of the property. The person who is not living in the house with the children often receives a mortgage to secure the rights to receive money in the future.
If the parties cannot resolve this issue the court will determine whether or not it is in the best interest of the minor children to defer the sale of the marital domicile. The court must look at whether or not the parent who is residing in the marital domicile can afford the mortgage, taxes, insurance and upkeep taking into account any child support, alimony or income that the person receives. The RI family Court must also determine how long the sale of the house should be deferred in the best interest of the children.
If the parties cannot determine issues of child custody, visitation and physical placement then the issues become a lot more confusing.
Legal Notice per Rules of Professional Responsibility:
The Rhode Island Supreme Court licenses all lawyers and attorneys in the general practice of law, but does not license or certify any lawyer/ attorney as an expert or specialist in any field of practice.
The parties agree to sell the property
There may be negotiations during the Rhode Island (RI) Divorce concerning one spouse buying out their husband or wife's share in the property. The parties can agree to a single appraisal or hire their own appraisors. Some parties simply agree to the fair market value and do not need an appraisal. If husband and wife's appraisals are different then they can negotiate the fair market value of the property. After determining the fair market value of the property, the parties should look at all mortgages owed and determine the equity of the property. The equity in the property is the difference between the fair market value and all liens and mortgages. This article only pertains to divorce and family law in Rhode Island (RI).
The equity in the property will determine what amount the person who is refinancing should pay the other party to buy out their equitable share. At the refinance closing, husband or wife may deed the property by quitclaim deed. Upon transfer of the deed, the spouse will receive their agreed upon share of the marital equity.
If the parties cannot reach an agreement and there are no children, the property will probably be ordered to be sold at the Rhode Island divorce trial.
In some cases, one spouse may agree to take less then half of the equity in the property. This could be done for numerous reasons including: disparity in earning capacity, admissions of an affair or infidelity, offsets from other assets etc. Parties may also agree to a multitude of different scenarios which might include one party living in the marital domicile and refinancing in the future to buy out the other party's share. This usually involves the party who remains in the house granting a mortgage to the other spouse.
There is really no limit to the types of agreements that parties can reach and it is possible that the parties could trade off assets in which one spouse receives a different asset such as a retirement account in exchange for the other party obtaining title to the real estate. Be careful becuase there may be federal tax implications to such tradeoffs!
This can get tricky because a transfer of the property without a current refinance will not take the person who deeded the property name off of the mortgage and promissory note.The person who deeded the property without refinance must make sure that the other party actually pays the mortgage, taxes and insurance on a timely basis otherwise their credit could be effected.
You should seek legal counsel from a Rhode Island (RI) divorce and family law Lawyer / Attorney concerning all of the possible scenarios.
Division of the marital domicile when parties have minor children.
If both parties agree that one spouse should reside in the marital domicile with the minor child / children they can agree to a deferred sale of the property. The person who is not living in the house with the children often receives a mortgage to secure the rights to receive money in the future.
If the parties cannot resolve this issue the court will determine whether or not it is in the best interest of the minor children to defer the sale of the marital domicile. The court must look at whether or not the parent who is residing in the marital domicile can afford the mortgage, taxes, insurance and upkeep taking into account any child support, alimony or income that the person receives. The RI family Court must also determine how long the sale of the house should be deferred in the best interest of the children.
If the parties cannot determine issues of child custody, visitation and physical placement then the issues become a lot more confusing.
Legal Notice per Rules of Professional Responsibility:
The Rhode Island Supreme Court licenses all lawyers and attorneys in the general practice of law, but does not license or certify any lawyer/ attorney as an expert or specialist in any field of practice.
Friday, September 18, 2009
Starting Miami Real Estate Investing by Allison Ayson
Investing at Miami real estate is very easy to learn, though there are important areas that are needed to understand before trying to initiate investing. Though there are lots of books, seminars and training being offered to fully understand real estate investing, there are only few of them provide the best knowledge in investing in Miami. In attaining success in investing, you need to undergo different trials and obstacles to experience different situation in investing a real estate. Thus, it requires a lot of perseverance and you must be determined enough if you are really willing and interested with starting up a Miami real estate investing.
Investing in a real estate is not an instant success that anyone can attain in just one day or weeks, month or years. It usually takes a lot of years but of course this will depend on how much aggressive you are in taking some risk. You must learn different strategies on how to maximize your profit and willing to take some risks. In investing you need to expect that it actually takes some time to gain a profit and you need to undergo a lot of transactions that usually do not work. But to those transaction that you have successfully deal with will surely worth the hard work you apply. And as long as you see yourself enjoying taking some risks then you are on the way to your success in due time.
There are situation that Miami real estate properties drop on their values which is a direct hit on your face. But of course you need to stand firm and avoid big damages to happen. It is very normal that there are really times that investing is really going down, but as soon as the market turns around, that will be the time to take advantage of it and be aggressive in investing in different properties to earn more, but of course there is a risk that it will not work the way you want it to work. You must be open in buying foreclosed property and bank own properties. Miami real estate investing is just like a wheel, sometimes you are up and sometimes you're down.
One of the challenging things that you can encounter in investing is looking for financial support. You have to use leverage in the business so you can have a hand in arranging financial activities. Also, don't buy a property with no down payment. This may cause properties to be in the list foreclosure properties.
When you are really in to Miami real estate investing, you may need to start purchasing foreclosure property because most of the time you can ask discounts on these properties and sell it in a higher price. But of course you need to be careful in choosing a foreclosed property to buy.
Allison AysonMiami Real Estate
Investing in a real estate is not an instant success that anyone can attain in just one day or weeks, month or years. It usually takes a lot of years but of course this will depend on how much aggressive you are in taking some risk. You must learn different strategies on how to maximize your profit and willing to take some risks. In investing you need to expect that it actually takes some time to gain a profit and you need to undergo a lot of transactions that usually do not work. But to those transaction that you have successfully deal with will surely worth the hard work you apply. And as long as you see yourself enjoying taking some risks then you are on the way to your success in due time.
There are situation that Miami real estate properties drop on their values which is a direct hit on your face. But of course you need to stand firm and avoid big damages to happen. It is very normal that there are really times that investing is really going down, but as soon as the market turns around, that will be the time to take advantage of it and be aggressive in investing in different properties to earn more, but of course there is a risk that it will not work the way you want it to work. You must be open in buying foreclosed property and bank own properties. Miami real estate investing is just like a wheel, sometimes you are up and sometimes you're down.
One of the challenging things that you can encounter in investing is looking for financial support. You have to use leverage in the business so you can have a hand in arranging financial activities. Also, don't buy a property with no down payment. This may cause properties to be in the list foreclosure properties.
When you are really in to Miami real estate investing, you may need to start purchasing foreclosure property because most of the time you can ask discounts on these properties and sell it in a higher price. But of course you need to be careful in choosing a foreclosed property to buy.
Allison AysonMiami Real Estate
Wednesday, September 16, 2009
How to Attract Private Money For Your Real Estate Deals by Simon Macharia
If you are a real estate investor, attracting private money lenders and private money investors is a crucial element of your business success.
Having a private money lender web site specifically for attracting and convincing private money lenders and investors that you are the best solution for their investment money is therefore a must.
But you must have the right private money lender web site in order to accomplish this objective - a web site that is simple, professionally designed and laid out, and most importantly, one that leaves no doubt in potential private money lenders minds that you are the best person they can invest their money with.
Identifying the right source of such a web site is therefore crucial.
First, why do you need private money?
1) If you like it, it is a deal
Can you use conventional lending for a deal that involves creative financing (such as taking over payments)? Even deals that could probably make you $100,000?
Most unlikely!
No bank will finance you unless it is a straight conventional buy; at least I do not know even one.
When you have a solid flow of private money that you can turn to at a short notice, you can close any deals you want; if you like it, it is a deal!
2) Close more deals
With private money, you are the under-writer. This means you can do deals that other investors cannot handle simply because you have a ready source of cash from your private money investors.
Even if you find deals with time constraints, you can still close on them because you can close on such deals as soon as you find them.
Conventional lenders typically take at leat 30 days to close, and come with tons of under-writing conditions. Hard money lenders can only lend on deals that meet certain criteria (such as 70% minus repairs). None of these conditions exist with private money lenders.
3) They are cheaper
Hard money lenders typically charge around 16% interest and higher, plus points in most cases. Conventional lenders may not even close on most deals unless they are conventional.
4) You do not need your own money
Hard money lenders will charge you points in advance and interest for the first month to close on your deal. Also, they will not lend you money to rehab in advance, so you may need a considerable amount of money in the bank to get a medium-sized deal.
Conventional lenders need you to put some money down, typically 10-20%. Not so with private money.
Web Sites For Attracting Private Money
A good private money lender web site must present you as a polished professional to potential private money investors or investors so they can fund your deals with confidence that their money is safe with you. In turn, you get all the money you need to financeinance deals that other real estate investors can never touch.
A private money lender web site must be specifically designed for attracting private money lenders to finance your deals. Obviously, you do not want to look sloppy to the very people who will finance your deals.
This web site must present you as a polished professional real estate investor who is at the top of his game. You must come out as a successful business person who private money lenders will not think twice to lend their money with.
The content of the private money lender web site must be professionally written to convince private money investors that you are the best real estate investor for their money. It must also be fully optimized for search engines.
Choosing the right private money lender web site for this purpose is therefore a must to your business success.
Having a private money lender web site specifically for attracting and convincing private money lenders and investors that you are the best solution for their investment money is therefore a must.
But you must have the right private money lender web site in order to accomplish this objective - a web site that is simple, professionally designed and laid out, and most importantly, one that leaves no doubt in potential private money lenders minds that you are the best person they can invest their money with.
Identifying the right source of such a web site is therefore crucial.
First, why do you need private money?
1) If you like it, it is a deal
Can you use conventional lending for a deal that involves creative financing (such as taking over payments)? Even deals that could probably make you $100,000?
Most unlikely!
No bank will finance you unless it is a straight conventional buy; at least I do not know even one.
When you have a solid flow of private money that you can turn to at a short notice, you can close any deals you want; if you like it, it is a deal!
2) Close more deals
With private money, you are the under-writer. This means you can do deals that other investors cannot handle simply because you have a ready source of cash from your private money investors.
Even if you find deals with time constraints, you can still close on them because you can close on such deals as soon as you find them.
Conventional lenders typically take at leat 30 days to close, and come with tons of under-writing conditions. Hard money lenders can only lend on deals that meet certain criteria (such as 70% minus repairs). None of these conditions exist with private money lenders.
3) They are cheaper
Hard money lenders typically charge around 16% interest and higher, plus points in most cases. Conventional lenders may not even close on most deals unless they are conventional.
4) You do not need your own money
Hard money lenders will charge you points in advance and interest for the first month to close on your deal. Also, they will not lend you money to rehab in advance, so you may need a considerable amount of money in the bank to get a medium-sized deal.
Conventional lenders need you to put some money down, typically 10-20%. Not so with private money.
Web Sites For Attracting Private Money
A good private money lender web site must present you as a polished professional to potential private money investors or investors so they can fund your deals with confidence that their money is safe with you. In turn, you get all the money you need to financeinance deals that other real estate investors can never touch.
A private money lender web site must be specifically designed for attracting private money lenders to finance your deals. Obviously, you do not want to look sloppy to the very people who will finance your deals.
This web site must present you as a polished professional real estate investor who is at the top of his game. You must come out as a successful business person who private money lenders will not think twice to lend their money with.
The content of the private money lender web site must be professionally written to convince private money investors that you are the best real estate investor for their money. It must also be fully optimized for search engines.
Choosing the right private money lender web site for this purpose is therefore a must to your business success.
Monday, September 14, 2009
10 Common Traits of Real Estate Billionaires by Kelly
According to Forbes magazine's 2005 annual list of "The world's richest People"; the real estate investing billionaires have a lot of things in common. This can't be a coincidence. Let's look at some of those similarities.
For Sale by Owner
1. Go commercial. Residential properties seem to stay out of the interest in the billionaire's perspective. They usually go for office buildings, shopping centers and apartment buildings. This strategy seems very popular for the wealthiest man in American real estate, Donald Bren.
This billionaire made a lot of his money as chairman of The Irvine Company. This real estate investment company is famous for developing quality communities like the 93,000-acre Irvine Ranch in Orange County. Donald Bren is the 6th wealthiest real estate billionaire and the 122nd richest man in the world with a worth op approximately $4.3 billion.
2. Do more than invest. Most people buy property and then hope and pray that the property will appreciate in value. Improvements are very important. This can easily link into the term "flipping houses" which can result in astronomical capital gains.
3. See the property not for what it is, but what it could be. If you buy a office building, it doesn't mean that an office building is the best use of that property. It is very important to know the area, the market surrounding the area and future tendencies. It becomes very important to think outside the box to sniff out possibilities.
4. Be relentless & tenacious. Billionaires don't let obstacles or pitfalls keep them from achieving their goals. A lot of billionaires have gone bankrupt more than once. What makes them different is they used the failure as inspiration to do it better. The concept: "Failure is just another form of learning" comes to mind.
5. Have a thick skin. Other people can be resentful and jealous of successful people. Be strong against criticism, don't let it skew the path to your goals. The thing that I have found is that the people who are always skeptical or pessimistic are usually the ones that know very little about the subject. Next time people have a pessimistic view about real estate, just ask them how many properties they own.
6. Have superior information. The power of information lies not in what you know but in what you dont know and how quickly you can gain the knowledge of what you don't know. If you do more research than your competitor, you will have the upper hand in any deal.
Sell Your Home in 21 Days
7. Don't accept the cards you are dealt with. According to Forbes, two-thirds of billionaires who made their cash in real estate where self made. This means that they didn't inherit it or won a lottery. They used their heads and made thinks happen.
8. Live in California. U.S. billionaires who made their fortune in real estate, 7 out of the 21 lived in Atherton, Newport Beach, Stockton, Palo Alto or Illinois. That's one-third of them.
9. Get, & stay, married. Of the 43 real estate billionaires whose marital status is known, 37 are married, 5 divorced & 5 widowed. Makes me think of the quote: "behind every successful man is a more successful woman" and visa versa.
10. Get the education. 26 Real estate billionaires' education is known. Out of those, 20 have got at least a college degree, 3 have got high school diplomas, and 3 were high-school dropouts. This is not to say you can't get rich without a degree, but it should make you think.
For Sale by Owner
1. Go commercial. Residential properties seem to stay out of the interest in the billionaire's perspective. They usually go for office buildings, shopping centers and apartment buildings. This strategy seems very popular for the wealthiest man in American real estate, Donald Bren.
This billionaire made a lot of his money as chairman of The Irvine Company. This real estate investment company is famous for developing quality communities like the 93,000-acre Irvine Ranch in Orange County. Donald Bren is the 6th wealthiest real estate billionaire and the 122nd richest man in the world with a worth op approximately $4.3 billion.
2. Do more than invest. Most people buy property and then hope and pray that the property will appreciate in value. Improvements are very important. This can easily link into the term "flipping houses" which can result in astronomical capital gains.
3. See the property not for what it is, but what it could be. If you buy a office building, it doesn't mean that an office building is the best use of that property. It is very important to know the area, the market surrounding the area and future tendencies. It becomes very important to think outside the box to sniff out possibilities.
4. Be relentless & tenacious. Billionaires don't let obstacles or pitfalls keep them from achieving their goals. A lot of billionaires have gone bankrupt more than once. What makes them different is they used the failure as inspiration to do it better. The concept: "Failure is just another form of learning" comes to mind.
5. Have a thick skin. Other people can be resentful and jealous of successful people. Be strong against criticism, don't let it skew the path to your goals. The thing that I have found is that the people who are always skeptical or pessimistic are usually the ones that know very little about the subject. Next time people have a pessimistic view about real estate, just ask them how many properties they own.
6. Have superior information. The power of information lies not in what you know but in what you dont know and how quickly you can gain the knowledge of what you don't know. If you do more research than your competitor, you will have the upper hand in any deal.
Sell Your Home in 21 Days
7. Don't accept the cards you are dealt with. According to Forbes, two-thirds of billionaires who made their cash in real estate where self made. This means that they didn't inherit it or won a lottery. They used their heads and made thinks happen.
8. Live in California. U.S. billionaires who made their fortune in real estate, 7 out of the 21 lived in Atherton, Newport Beach, Stockton, Palo Alto or Illinois. That's one-third of them.
9. Get, & stay, married. Of the 43 real estate billionaires whose marital status is known, 37 are married, 5 divorced & 5 widowed. Makes me think of the quote: "behind every successful man is a more successful woman" and visa versa.
10. Get the education. 26 Real estate billionaires' education is known. Out of those, 20 have got at least a college degree, 3 have got high school diplomas, and 3 were high-school dropouts. This is not to say you can't get rich without a degree, but it should make you think.
Wednesday, September 9, 2009
An Introduction to Real Estate Management by Dannie Jensen
Real estate investment can happen for various reasons. You could invest in real estate because you need a house for yourself (that house of your dreams that you so badly want). You could use real estate as a means for supplementing your income either by buying at a lower price and selling at a higher price or by letting it out. Sometimes you might buy a property for the purpose of resale but might want to wait for a few years before you actually sell it. In such a case, again it would make sense to rent out the property and earn some money till you actually decide to sell it off.
Whatever the reason, letting out real estate demands real estate management and real estate management is not an easy job for everyone. In fact, a lot of people find it so much of a hassle that they prefer keeping their property vacant instead of letting it. Real estate management demands time, which you will rarely have. Real estate management is not just about finding tenants and collecting rent from them. Real estate management is also about ensuring that you do all the duties that a landlord/landlady is required to do. Real estate management is about verifying the credentials of the tenants before you actually let out your property to them. Real estate management is about ensuring that all the paper work is complete and correct i.e. the tenancy agreement etc are properly done. Real estate management also requires you to do repairs as and when required. Real estate management activities also include maintenance, painting, polishing etc of the house when the tenants move out and before the new tenants get in.
So, really, real estate management is not that easy a job for someone who is in a full time job. However, there is a solution to this and that is hiring a real estate management firm to do all these activities on your behalf. Yes, this will mean that what you receive as an income by letting your property will be reduced (due to the commission/ fee charged by the real estate management firm). But that is just a small price for the convenience that a real estate management firm brings to you. However, it's important that you choose the real estate management firm carefully. There are all kinds of real estate management firms out there (good and bad). You must check the references of the real estate management firm before you actually hire them for the job. A good real estate management firm will not only keep your property occupied at all times but will also ensure that you always receive the rent in time and without any hassle.
Whatever the reason, letting out real estate demands real estate management and real estate management is not an easy job for everyone. In fact, a lot of people find it so much of a hassle that they prefer keeping their property vacant instead of letting it. Real estate management demands time, which you will rarely have. Real estate management is not just about finding tenants and collecting rent from them. Real estate management is also about ensuring that you do all the duties that a landlord/landlady is required to do. Real estate management is about verifying the credentials of the tenants before you actually let out your property to them. Real estate management is about ensuring that all the paper work is complete and correct i.e. the tenancy agreement etc are properly done. Real estate management also requires you to do repairs as and when required. Real estate management activities also include maintenance, painting, polishing etc of the house when the tenants move out and before the new tenants get in.
So, really, real estate management is not that easy a job for someone who is in a full time job. However, there is a solution to this and that is hiring a real estate management firm to do all these activities on your behalf. Yes, this will mean that what you receive as an income by letting your property will be reduced (due to the commission/ fee charged by the real estate management firm). But that is just a small price for the convenience that a real estate management firm brings to you. However, it's important that you choose the real estate management firm carefully. There are all kinds of real estate management firms out there (good and bad). You must check the references of the real estate management firm before you actually hire them for the job. A good real estate management firm will not only keep your property occupied at all times but will also ensure that you always receive the rent in time and without any hassle.
Friday, September 4, 2009
Solid Maple Bunk Bed - it Will Last You a Lifetime by Fred Romano
Bunk beds can save a lot of space in a small house. Real estate can be very expensive and it is not always possible to have separate rooms for each child. If this is the case in your house the bunk beds will give your children their own beds and the feeling of privacy. Bunk beds are not only for small children. Even if you have grown up teenagers you can get them bunk beds. A solid maple bunk bed will last you a long time and you can get it in any of the available styles such as twin over full, twin over futon, twin over twin or full over full. A solid maple bunk bed can be used for years as the color is very neutral and only the best wood is used to make them. You can match any paint color to it and you won't have to worry about how to match other pieces of furniture.
Usually if you went to a shop you would find that a solid maple bunk bed is a but expensive. If you are on a budget there are ways to get one and still have the same quality at a lower price. Buying the bed online is a good solution as you can get the lowest prices and it isn't even difficult to do so. You can order your bed while you are on your lunch break at work. You just need an Internet connection and a few minutes of your time.
If you are buying a solid maple bunk bed then you may also want the additional furniture that goes with it. There is a space under the bottom bunk that can be utilized to maximize its efficiency. You can get a trundle bed which is a bed that is stored underneath until it is needed. You can easily roll it out whenever you have guests over. If you have no need for a trundle bed then you can buy the storage drawer. It can be used to store extra toys and games or you can out huge bulky blankets in it during the summer when they are not needed. A solid maple bunk bed can be beautifully complimented with an elegant night stand that can be bought in the same color. You can get all of this stuff online so there is no extra work for you to do.
If you are looking for a bunk bed for your children then you should seriously consider buying a solid maple bunk bed. It is so easy to maintain and it will last you for years to come. These beds are a good long term investment to make as they will provide you with comfort for a long time. So if you have two children and one room for both of them you should get them a solid maple bunk bed that they can share a room comfortably and feel like they have their own space.
Usually if you went to a shop you would find that a solid maple bunk bed is a but expensive. If you are on a budget there are ways to get one and still have the same quality at a lower price. Buying the bed online is a good solution as you can get the lowest prices and it isn't even difficult to do so. You can order your bed while you are on your lunch break at work. You just need an Internet connection and a few minutes of your time.
If you are buying a solid maple bunk bed then you may also want the additional furniture that goes with it. There is a space under the bottom bunk that can be utilized to maximize its efficiency. You can get a trundle bed which is a bed that is stored underneath until it is needed. You can easily roll it out whenever you have guests over. If you have no need for a trundle bed then you can buy the storage drawer. It can be used to store extra toys and games or you can out huge bulky blankets in it during the summer when they are not needed. A solid maple bunk bed can be beautifully complimented with an elegant night stand that can be bought in the same color. You can get all of this stuff online so there is no extra work for you to do.
If you are looking for a bunk bed for your children then you should seriously consider buying a solid maple bunk bed. It is so easy to maintain and it will last you for years to come. These beds are a good long term investment to make as they will provide you with comfort for a long time. So if you have two children and one room for both of them you should get them a solid maple bunk bed that they can share a room comfortably and feel like they have their own space.
Tuesday, September 1, 2009
Is 2009 The Year of Real Estate Bargains? by dane
Everyone has felt some of the impact of slumping real estate prices over the past two and a half years, from homeowners trying to tap into shrinking equity to commercial property investors seeing smaller returns and greater vacancies. As 2009 reaches the halfway mark, however, the case for real estate's turnaround is becoming more and more apparent. By 2010, home and commercial property prices will have stabilized further, and interest rates will certainly have risen somewhat. As a result, the next three to six months may be the best opportunity to lock in an attractive mortgage rate, while still reaping the benefits of the best buyer's market in decades.
Many factors influence the real estate market during a recession. However, in the United States, geography plays a much larger role in deciphering statistics which tend to be quoted as national averages. When home prices fall across the country, there is legitimate cause for concern. But the recently released Case-Shiller index provides some promising clues that suggest otherwise. In 7 of the 20 surveyed areas, prices increased between March and April. In several other metropolitan areas the decrease in prices was much smaller than in previous month-on-month comparisons. Most importantly, the nationwide aggregate pace at which home prices have fallen is slowing, with the difference between April and March prices falling a meager .78 points.
This trend points towards stabilization across the board, even as several regions continue to experience contraction. These parts of the United States experienced increased growth throughout the "bubble period," which gained momentum after the dot-com bust, culminating in the spectacular drops seen throughout mid-to-late 2007. This period was marked by two unusual phenomena: the context in the real estate market of speculative and historically high home prices, combined with artificially low interest rates and under-regulated financial products.
These factors are essentially risk-based, and as the financial sector melted down the risk was priced into the record write-downs and subsequent contraction. The extent to which this effect will reinforce any further nominal decreases in home prices remains somewhat uncertain. Their effects will still likely be minimal and take more time to observe. In some of the more adversely affected areas, foreclosures are still high, but no longer the record-setting numbers seen in previous quarters. In addition, any government measures that may be implemented may stem foreclosures further and reduce potential risk to a marginal level.
This systemic and speculative risk has now largely been priced into the market at this point, as evidenced in recent data. Many investors have already begun buying into the markets which continue to grow quietly. This has been occurring in areas which prices have been more stable, such as the Northeast and in states like Texas, where places like Round Rock have continued to grow seemingly unabated. In fact, according to recently released census data, four of the fastest-growing cities in the US are in Texas. This is also reflected in the S&P Shiller index on Dallas home prices, which swung upward 1.7 points between March and April. Many other larger cities in New England and the Pacific Northwest have also continued to experience some growth despite the recession, albeit less than in boom years. These area's track records make them strong contenders for investment or home purchase.
In the broader picture, the Federal Reserve has forecasted a positive GDP in the last half of 2009, after which more competitive investment will end the current buyers market. Buying a home or commercial property will likely not be such a bargain for some time to come, as history shows cycles such as these tend to come every thirty years, with larger dips every sixty or so. That means if you're in for the long haul (or even if you're not) the time may have come to look at real estate once more.
Many factors influence the real estate market during a recession. However, in the United States, geography plays a much larger role in deciphering statistics which tend to be quoted as national averages. When home prices fall across the country, there is legitimate cause for concern. But the recently released Case-Shiller index provides some promising clues that suggest otherwise. In 7 of the 20 surveyed areas, prices increased between March and April. In several other metropolitan areas the decrease in prices was much smaller than in previous month-on-month comparisons. Most importantly, the nationwide aggregate pace at which home prices have fallen is slowing, with the difference between April and March prices falling a meager .78 points.
This trend points towards stabilization across the board, even as several regions continue to experience contraction. These parts of the United States experienced increased growth throughout the "bubble period," which gained momentum after the dot-com bust, culminating in the spectacular drops seen throughout mid-to-late 2007. This period was marked by two unusual phenomena: the context in the real estate market of speculative and historically high home prices, combined with artificially low interest rates and under-regulated financial products.
These factors are essentially risk-based, and as the financial sector melted down the risk was priced into the record write-downs and subsequent contraction. The extent to which this effect will reinforce any further nominal decreases in home prices remains somewhat uncertain. Their effects will still likely be minimal and take more time to observe. In some of the more adversely affected areas, foreclosures are still high, but no longer the record-setting numbers seen in previous quarters. In addition, any government measures that may be implemented may stem foreclosures further and reduce potential risk to a marginal level.
This systemic and speculative risk has now largely been priced into the market at this point, as evidenced in recent data. Many investors have already begun buying into the markets which continue to grow quietly. This has been occurring in areas which prices have been more stable, such as the Northeast and in states like Texas, where places like Round Rock have continued to grow seemingly unabated. In fact, according to recently released census data, four of the fastest-growing cities in the US are in Texas. This is also reflected in the S&P Shiller index on Dallas home prices, which swung upward 1.7 points between March and April. Many other larger cities in New England and the Pacific Northwest have also continued to experience some growth despite the recession, albeit less than in boom years. These area's track records make them strong contenders for investment or home purchase.
In the broader picture, the Federal Reserve has forecasted a positive GDP in the last half of 2009, after which more competitive investment will end the current buyers market. Buying a home or commercial property will likely not be such a bargain for some time to come, as history shows cycles such as these tend to come every thirty years, with larger dips every sixty or so. That means if you're in for the long haul (or even if you're not) the time may have come to look at real estate once more.
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