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Archive for April, 2009

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Ethics, Morals, and Values in Real Estate Investing

Tuesday, April 14th, 2009

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Real Estate Investing Ethics, Morals, and ValuesWhen I first went into business with a couple of my friends, the very first thing that we did was develop a standard by which we would conduct business.

. . . and it’s kind of funny how it all came together.

Myself and two future business partners were at a bar called the Village Idiot in Five Points in Columbia, SC. As the pitchers started flowing, we began to brainstorm about the values for which our business would stand. The only thing we had to write on was a napkin, and like always, Dusty had a pen with him.

We were all still in college at the time so we threw back quite a few that night and to this day, I am still amazed at what we put together . . . especially in our state of mind.

The next day, we were left with a crumpled up napkin that had 11 principles written on it. And the last few had to be decoded by all three of us to figure out what the heck we wrote.

(more…)

Tags: constitution, real estate ethics, real estate investing
Posted in Business Management Systems and Tools, Personal Development, Tips and Tricks | No Comments »

4th Type of Person Most Likely to Be a Private Lender

Friday, April 10th, 2009

2 Comments »

Private Money LendingIn a previous article, I discussed the . . .

3 Types of People Most Likely to Invest with You

1) People that know and trust you

These are your long term relationships . . . friends, family, etc.

2) People that know a good deal when they see one

Could be anyone whose profession is related to the real estate industry . . . real estate agents, mortgage brokers, home inspectors, appraisers, etc.

3) People that know people who have given you private money

This one is pretty simple . . . referrals. This is your best source once you get people in your program that have benefited from being a private lender.

For more info, read the full article, 3 Types of People Most Likely to Invest with You.

And now for the . . .

4th Type of Person Most Likely to Give You Private Money

When I started combing through my list of private lenders that I’ve cultivated over the years, I started to see another pattern. Another type of individual that’s a good prospect for becoming a private lender.

(more…)

Tags: creative financing, creative real estate, Financing, private lending, Private Money, private money lenders, real estate investing, real estate investment financing
Posted in Real Estate Investment Financing Strategies | 2 Comments »

The Power of the Mastermind

Wednesday, April 8th, 2009

1 Comment »

Mastermind GroupIf you’ve ever read Napoleon Hill’s seminal classic, Think and Grow Rich, you know about the power of the mastermind. He states . . .

“Men take on the nature and the habits and the power of thought of those with whom they associate in a spirit of sympathy and harmony.”

Hill goes on to suggest forming a group of like minded people with whom you meet regularly in order to share ideas, brainstorm, and get different perspectives to problems . . . all in the pursuit of a definite purpose.

He goes on to say . . .

“Analyze the record of any person who has accumulated great fortune, and many of those who have accumulated modest fortunes, and you will find that they have either consciously, or unconsciously employed the Master Mind principle.”

(more…)

Tags: creative real estate investing, mastermind, mastermind group, real estate investing
Posted in Business Management Systems and Tools, Personal Development, Tips and Tricks | 1 Comment »

Wholesaling Real Estate : Form To Build Buyers List

Monday, April 6th, 2009

8 Comments »

Wholesaling real estate is one of the hottest topics in real estate investing. We’ve been running a poll on the blog now for a little while, and it has consistently been the number two topic of interest that investors want to learn about . . . behind only financing strategies.

6 Advantages to Wholesaling Real Estate

= > Fastest way to create quick cash

= > Don’t have to deal with tenants or contractors (if you’ve never had to deal with this dynamic duo . . . let me tell you, you can drive yourself crazy dealing with these knuckle heads)

= > Allows you to make big money without cash or credit

= > There’s little to no risk . . . since you don’t even have to close (you can just assign contracts)

= > Don’t have to know very much about real estate investing as a whole to be successful at it

= >  And the list goes on!

(more…)

Tags: buyers list, buyers list real estate, creative real estate investing, real estate investing, wholesale buyers list, wholesale real estate, wholesale real estate contract, Wholesale Real Estate Contract Form, wholesaling, wholesaling houses, wholesaling real estate
Posted in Business Management Systems and Tools, Real Estate Investment Buying Strategies, Real Estate Investment Selling Strategies | 8 Comments »

Investing in Apartment Buildings Interview with Matthew Martinez

Wednesday, April 1st, 2009

2 Comments »

How to Invest in Apartment BuildingsMy focus as a real estate investor and niche for my company has always been single family homes . . . but, I do have to say that there’s definitely some very appealing characteristics to investing in apartment buildings.

For instance, when you own a single family home and it’s vacant, how much income are you receiving? Zero, not one penny. Nothing! When you own an apartment building (or just a multifamily property in general), when you have a vacant unit, you still have income from all the other units. And if you’ve been in the landlording business for very long, you quickly realize that vacancy is one of the biggest profit destroyers you have to continually combat.

Even though my niche has been single family homes, I did purchase a couple small apartment buildings years ago. I bought a 4 unit and 6 unit apartment building in Clemson, South Carolina my first year as an investor. The seller lived in Charleston (right down the road from me) and actually called one of my “We Buy Houses” Bandit signs. He just wanted out, and I wound up structuring a 100% owner financed deal to buy the properties . . . how about that!

Anyway, I’m no expert in buying apartment buildings but get tons of questions on the subject. Sooooo, I decided to go find an expert to interview so that we could learn more about investing in apartment buildings.

His name is Matthew Martinez. He is the author of 2 Years to a Million in Real Estate and Investing in Apartment Buildings. This guy is the real deal!

(more…)

Tags: apartment buildings, commercial real estate, how to buy apartment buildings, investing in apartment buildings, investing in apartments, Matthew Martinez
Posted in Business Management Systems and Tools, Marketing, Negotiating, Property Management, Real Estate Investment Buying Strategies, Real Estate Investment Financing Strategies | 2 Comments »

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    Who's Behind Must Know Investing?

    Patrick Riddle:
    Patrick grew up in Lexington, South Carolina. Went to Clemson University for several years studying civil engineering and wound up doing real estate investing in Charleston, SC.
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