Not sure about where you live but it’s been absolutely gorgeous in Charleston, SC lately.

Recently, one of our Platinum Private Money Blueprint members, Mike Johnson,and his wife Audrey were in Charleston… so I took ‘em to one of my favorite spots, The Boathouse at Breach Inlet.

The view is AMAZING! Best spot to watch the sunset in Charleston.

Check us out…

You know, there’s a certain language to success (which is an ASSET to you)… and Mike speaks it.

He’s a new investor and is going to be buying multi family deals. He hasn’t done his first deal yet but here’s what he told me the other day… he said, “I will do this. It’s only a matter of time.”

Is your language an ASSET to your success? Find out below…

Are You An Asset Or Liability To Your REI Success?

Take a good hard look at yourself.

Are you growing or shrinking? Are you taking steps towards your goals or letting them drift away? Are you doing the things you know you should be or letting fear stop you in your tracks?

If you’re growing, if you’re taking steps towards your goals, if you’re doing the things you know you should be, then you’re an asset.

If not, a liability.

There are a few core areas of your biz that we need to make certain you’re an ASSET… because real estate investing, building a business requires it.

>> #1 – Education

You’re an asset if…

You are committed to CANI (constant and never ending improvement). You read good books, blogs, articles, etc on a regular basis.

You take massive action. You know that the REAL learning comes from the field… not in the classroom. You learn from the people you meet, the experiences you have, the mistakes you make along the way.

>> #2 – Language

You’re an asset if…

You speak confidently about yourself, your abilities, your business, your future.

You don’t use weak words like “try” or “wish.” You boldly exclaim (at least to yourself) that you can and will do whatever you set your mind to. You don’t say “I can’t”… you ask “how can I?”

>> #3 – Planning

You’re an asset if… you live by the Proverb, “He who fails to plan, plans to fail.”

You know what you want in biz and life and have written plans to make it all happen. Even though you don’t know exactly “how” you’re going to accomplish your goals, you know that with a strong enough “why,” the how takes care of itself.

You do the best you can with what you have… and are flexible – adjusting your plans along the way as needed.

>> #4 – Network

You’re an asset if…

You understand that your network makes a HUGE impact on your net worth… and actively look for ways to build new relationships and strengthen existing ones.

You associate with like-minded positive people who are where you want to be. You’re active in organizations like REIA, chamber of commerce, Rotary, the “private lender referral source” I shared with you recently, small biz association.

Regardless of whether or not you’re comfortable meeting new people, you do it anyway.

So, let me ask you again…

Are you an asset or liability to your success?

If you’re currently a liability, it’s time to do something about it. Now!

All it takes is one decision… a decision to actively educate yourself, speak the language of success, plan, build your network.

If you have any questions, if I can help you with anything, let me know.

I’m here for ya :-)

Happy Investing!

- Patrick

P.S. – Was thumbing back through Napoleon Hill’s classic, Think & Grow Rich, and came across this nugget of wisdom…

“Where failure is experienced, it is the individual, not the method, which has failed. If you try and fail, make another effort, and still another, until you succeed.”

As an asset to your success, as someone willing to make another effort, and another… there is only one result.

Success.

Related posts:

1. Why Are You A Real Estate Investor? Before I dive in here, if you’re wondering where in...

Alrighty, just put together a brand new video for ya on finding hidden profit centers in your deals.

I walk you through a real world situation from last week with one of my Platinum coaching students, Jason Tooley.

Through the negotiation process with a seller of a 48 unit deal, I told Jason to ask two questions (that you’re about to learn) that uncovered piles of additional profits.

Check out the video below…

Amazing what a couple simple questions can uncover, ehhh?

Join the conversation here and toss your questions, thoughts, whatever is on your mind in the comment area.

And before you go, show some love and “Like” this post. Thanks :-)

-  Patrick

Related posts:

1. Why Are You A Real Estate Investor? Before I dive in here, if you’re wondering where in...

Before I dive in here, if you’re wondering where in the heck I’ve been, I’m not surprised. I haven’t been posting nearly as much over the past few months… whew, just been super busy.

I’ve had a few BIG projects on my plate that have been consuming my time… editing/updating the entire written manual of my Private Money Blueprint system for 2011 (releasing the new version in a couple weeks), just took on a new group of Platinum coaching clients, working on a few new deals, among other projects (can’t let the cat out of the bag yet on these… top secret stuff :-)

Anyway, I’m still here… and am going to get back on track posting awesome content and resources consistently for ya.

Now for today’s post…

“Why are you a real estate investor?”

Are you an investor because you want to replace your income and quit your 9 to 5? or you want to be your own boss and do what you want, when you want? or you want to make your millions and retire to the good life?

All of these are great reasons to invest in real estate. BUT…

… what if we took it one step further… and looked not at “what’s in it for me”… but “what’s in it for others”?

What if we focused on how many people benefit from what we do as real estate investors? What if that was the motivating force, our “why”, for being an investor?

I can tell you from experience… when you focus on helping other people, when you focus on truly serving others, magical things happen.

Seriously.

When you help enough people get what they want, you’ll get what you want (I think Zig Ziglar said that).

I got an email recently from PMBPer Bryan McClaskey which spawned this post… because he recently closed his first private money deal (whoohoo! congrats Bryan!) and made a list of all the people who benefit when he does a rehab deal with private money.

Here’s an excerpt from the email he sent me:

- – - – - – - – - – - – - – -

1) the seller gets rid of their property

2) the seller’s bank gets a non-performing asset off their books (assuming it’s a short sale, in foreclosure or an REO)

3) the real estate agent(s) make a commission

4) the local economy… all the contractors and suppliers get paid for work on the rehab

5) the neighborhood… the neighbors are happy to see an ugly house that was bringing down neighborhood turned into a pretty house

6) the buyer wins by getting a safe, clean, affordable home

7) the private money investor gets a good return that they can’t get from the traditional market

8) and last but certainly not least… I make a nice fair profit in the process

I found my calling! my purpose! just the thought of helping all those people keeps me awake at night!

- – - – - – - – - – - – - – -

I love it Bryan! That’s the mindset that breeds success, that breeds wealth!

Thanks for letting me share your email with everyone here.

Alrighty, that does it for now.

Get out there in the REI trenches and go help some people :-)

- Patrick

P.S. – Bryan sent me another email because he thought of more people who benefit from his transactions… “the buyer’s lender, the appraiser, the buyer’s home inspector, the pest control company, the insurance agent.” Nice!

P.P.S. – Can you think of anyone else who benefits from your deals? If so, toss ‘em in the comment area.

No related posts.

In today’s post, Samantha Taylor of Mortgage Fit brings us 7 must know strategies for beginning real estate investors…

Investing in the real estate market can be a very lucrative form of investment, and you can do it, if you want to earn great profits. However, if you are just starting off, be aware of a few strategies before you begin investing.

7 Must Know Real Estate Investing Strategies for Beginners

1. Form a Good Team

When you are just beginning to invest in the real estate market, you should get good advice from people who are experienced in this field. You should build a good team to give you sound advice. Most of the mistakes people make while investing in real estate is due to bad advice. This can all be done away with if you choose the right kind of knowledgeable people for your team. Take your time and consider who you take advice from and who you don’t.

2. Educate Yourself Before Starting

It’s important that you know what you are getting into. Having a thorough knowledge of the basics of real estate investment is very essential. However, you should know much more than the basics before you invest. There are many lectures and seminars and books that can help you gather knowledge about how you are to invest and make profits in this market. You must be adequately aware about when to sell or buy or remodel your property.

3. Have a Sound Knowledge of the Market

Do adequate research about the market that you are dealing with. You must understand property values and market trends. One way to help build this knowledge is through your team, networking with other local investors, and actively looking at properties.

4. Make Contacts

It is very important to have a good contact base when you are beginning to invest in the real estate market. If you are attending any seminars or lectures on real estate investing, build some contacts there. Building contacts will help you in finding better loans and better rates when it comes to buying or selling properties.

5. Set Your Goals

Before you invest in any market, you should set specific goals. Determine your exit strategy and decide if want to sell your property or rent it. You must also determine how much money you will be willing to put towards your property and how long you are planning to keep it.

6. Learn to Survey Properties

It is essential for you to master the art of surveying properties. Not all properties can be profitable for you. Thus, you must survey properties in order to determine what repairs are needed. Get a professional to help with this process at first.

7. Learn How to Survey Locations

One of the most important things that you must consider when investing in real estate is the location of the property. This is essential because when you sell a property or put it up for rent, a much smaller segment of the population will be interested in buying or renting your property if it has a bad location (high traffic areas, loud areas, declining neighborhoods, etc).

These are just a few strategies that will help you get started investing in real estate.

________________________________

Samantha Taylor is the Community Mentor of MortgageFit and has been contributing her suggestions to the Community since 2005. She’s also made notable contributions through the various articles written on different subjects related to the mortgage industry. Head on over to MortgageFit to learn more about Samantha.

No related posts.

In today’s post, Rob Russell of The Real World Investor shares 5 tips to help you stay laser focused on achieving your 2011 goals (and btw… Rob’s one of our PMBP member’s who is kicking some serious butt in today’s market… he’s getting private money and closing deals right and left… go Rob!)…

Hello fellow Real Estate Investors,

I must admit, with the invention of social media, I-phones, I pods, and who knows what those brilliant marketers are working on next, keeping your focus on your goals in 2011 is going to be a challenge!

I’m speaking from experience.

You see, even after a 10-year stint in the Army where I was hand-picked to be trained as a “sniper” and where I developed incredible mental focus and clarity, I struggled after I got out of the service.

Luckily I had the mental fortitude and discipline to develop my own systems and habits that keep me focused and on track to reach my goals.

As you get to know me more, you will see that one of my passions is to help out my fellow investors and share what I’ve found works best in “THE REAL WORLD”!

With that said, here are my top…

5 Tips & Tricks to Overcome Distractions & Stay Laser Focused on Your Goals

(I’ve spent the last 20 years fine tuning these… enjoy :-)

1) Develop a Weekly “Roadmap” to Follow

What works for me is a template I have developed that I call my “Weekly Performance And Accountability Progress Sheet”. In a nutshell, I break up all the areas of my Real Estate Business, and  put down 1-4 tasks that I want to accomplish in each area for the week.

2) Develop a “Mini Roadmap”

Each day I develop a simple and easy to follow checklist of the 5-10 tasks that are most important for me to get done that day. I draft this up in an e-mail and put it on my clipboard and carry it with me. I review it often, and check off a task when I complete it.

3) Stay FLEXIBLE and ADJUST as you go

You have to realize that we live in an imperfect world, and you are going to have to work around that. If you don’t complete some tasks for that day, carry them over to the next day. Also realize that sometimes your priorities will change and you might just take something off the list as a more important task (higher income producing) comes along.

4) Guard Yourself Against “TIME VAMPIRES!”

Let’s face it, as you go through a typical day you are going to get into situations where you can feel yourself getting sucked into a task, or talking to someone and you get that feeling you are starting to drift off target!

That is where you need to ask yourself “Is what I’m doing right now, the best use of my time, and getting me closer to my goals?”.

Be honest with yourself, and if the answer is NOT EVEN CLOSE, stop doing it immediately. If you’re in a conversation, politely look at your watch and tell that person  “I’m sorry, but I really have to run, I have a few things I still need to get done today”.

5) Keep a Daily Journal of Your Progress Towards Your Goals

I know what you’re thinking right about now… “Man this guy sure likes to write a lot, I’m never going to find the time to do that much writing, I’m way too busy!” Here is my answer to that, MAKE TIME! This will help motivate you to write down your goals:

In 1979, interviewers asked new graduates from the Harvard’s MBA Program and found that :

=> 84% had no specific goals at all

=> 13% had goals but they were not committed to paper

=> 3% had clear, written goals and plans to accomplish them

In 1989, the interviewers again interviewed the graduates of that class.  You can guess the results:

=> The 13% of the class who had goals were earning, on average, twice as much as the 84 percent who had no goals at all.

=> Even more staggering – the three percent who had clear, written goals were earning, on average, ten times as much as the other 97 percent put together.

(Source:  “What They Don’t Teach You In The Harvard Business School”, by Mark McCormack)

Pretty darn cool!

Ok, I have to run! I have a few more tasks I want to get done before I wrap up my day!

Talk to you soon,

- Rob Russell

The Real World Investor

P.S. – Here’s a pic of my wife, Kristi, and I hanging out with Patrick in Portland at Ron Mead’s Probate Mastery Conference. Good times!

________________________________

If you would like a copy of Rob’s “Weekly Performance and Accountability Progress Sheet”, go to The Real World Investor and toss your e-mail in the sign up box on the right hand side just below the video.

No related posts.

I put together a special video for you with all the mistakes that I’ve made in my real estate investing biz over the years so that you can learn from them… and I’ve made some BIG ones.

It’s important to keep in mind that everyone, EVERYONE makes mistakes… doesn’t matter if you’re brand new to real estate investing or if you’re a seasoned veteran.

You’re going to make mistakes… period!

BUT, it’s how you respond, how you react, what you learn… that makes the difference.

I remember when my mentor said that when you’re actively investing in real estate over time… it’s not a matter of “if” someone will file a lawsuit against you (whether it’s a tenant, contractor, seller, lender, etc),  it’s a matter of “when”.

I read about a poll that was done at the end of the nineteenth century. People were asked, “If you were to get rich, become wealthy, how would you do it?”

The answer… build a business.

The same poll was conducted a hundred years later and the answer unfortunately was… sue someone.

… just goes to show how the mindset of the masses has shifted.

In real estate investing, when things go south, it can mean broken agreements, payments falling behind, liens, judgments, foreclosure, bankruptcy.

You’re undoubtedly heard many stories of hardship over the last few years… from huge multi-million and billion dollar real estate investment companies, developers, banks, mortgage companies…

… but regardless of the adversity faced, there are KEY lessons to be learned and leveraged into your next deal, your business, your personal life.

In the video below, I go in-depth explaining specifically the BIG mistakes I’ve made, how I’ve responded, how I’ve weathered the storm… and my hope is that you can experience these through me, learn from them, and avoid them in your own business and life.

This is a very PERSONAL video (and it’s also 25 minutes long)… but please, I urge you to watch this video NOW.

You know, whether you’re just getting started or whether you’re doing a HUGE volume of deals… you’re gonna make mistakes. Everyone does. And that’s ok.

If you’ve had an agreement go south or if you do in the future, don’t be surprised if someone yells “scam” or “lawsuit”! That’s unfortunately hard wired into the minds of the masses these days.

But, hang in there. Take the lessons from this video and apply them in your business, your life.

… and realize that sure… there’s a lot of risk investing in real estate. BUT, there’s also a lot of risk driving your car everyday.

When investing in real estate, take calculated risks. Educate yourself. Surround yourself with a team of experts. Do your due diligence. Learn from other investors. Do the best you can with what you’ve got.

As for me, I’m just gonna keep moving forward. No matter how long, how hard, I will persist until…

Patrick

… aka P-Rid

No related posts.

This week, Susan Lassiter-Lyons – The $24 Million Dollar Woman – is bringing us our final segment, Part 8 of MustKnowInvesting.com’s “Best and Brightest Women in Real Estate Investing” series.

New to the series? Start w/ the introduction.

It’s been quite a ride so far… over 200 comments, over 200 people have shared it on Facebook, not to mention all the tweets.

And before we dive in today, just wanted to say “Thanks!” for your active participation in the series.

We – myself and all the “Best and Brightest” women – appreciate you :-)

Alrighty, now for our final segment  with Susan Lassiter-Lyons…

I’ve had the great pleasure to get to know Susan both personally and professionally over the last couple years. Susan joined the Private Money Blueprint faculty back in the fall of ‘08. And as many of your know, we had our Getting the Money Bootcamp this past June in Denver (her home town… which I LOVE by the way!).

And lemme tell ya, Susan knows her stuff! I’ve learned a TON from her.

Here’s a little background info…

Susan began investing in real estate in 1994 and owned a mortgage company for 7 years where she specialized in residential, commercial, and hard money financing for real estate investors. And get this… she’s participated in over 600 investment deals and since 2006 has raised over $24 million in private money for real estate syndicates.

Pretty incredible, ehhh?

Well, Susan’s about to tell you all about how she went from being a corporate drone to becoming The $24 Million Dollar Woman… and she’s gonna share her “secrets” of success.

Susan Lassiter-Lyons | Best and Brightest Women in Real Estate Investing

Without further ado…

Great video Susan! Thanks so much for sharing your secrets :-)

Connect with “Best and Brightest” Susan Lassiter-Lyons

It’s often said “it’s not what you know but who you know that makes the difference.”

So, get to know Susan by connecting below…

Friend Up on Facebook

Follow on Twitter

Subscribe to YouTube Channel

Your FREE Real Estate Investing Resource Download

Susan has gone the extra mile and is donating two killer resources to you.

As she mentioned in her video, you’re gonna not only get her 88 page Mortgage Secrets for Real Estate Investors eBook. You also get a 90 minute training Susan put together for her blog, The Investor Insights, called The 3 C’s: Credibility, Confidence, and Contacts.

Click below to grab your copy of Mortgage Secrets for Real Estate Investors:

And here’s the link to download the 3 C’s video:

The 3 C’s: Credibility, Confidence, And Contacts

A BIG thank you goes out to Susan and all the “Best and Brightest” for making this an awesome kick butt series.

Like always, we LOVE feedback from y’all. If you enjoyed this post and the series, click the Facebook “Like” button and leave your thoughts and questions in the comment area.

Happy Investing!

~ Patrick

… aka P-Rid

P.S. – Here are the links to the series for you:

Julie Broad | Esi Benedict | Shae Bynes | Christina Mellott | Stephani Davis | Surprise Special Guest | Rachel Hernandez | Susan Lassiter-Lyons

No related posts.

This week, Rachel Hernandez – aka Mobile Home Gurl – is bringing us Part 7 of our “Best and Brightest Women in Real Estate Investing” series.

New to the series? Start w/ the introduction.

Now, you may not have known this, but Rachel wasn’t always the “Mobile Home Gurl”. She actually got her start in single family homes and built up a sizable portfolio. But all was NOT well (as you’ll hear in her video below).

Here are a few things that you’re about to discover:

=> Why she chose to become an investor even though she NEVER thought she would be in real estate

=> The book that made things “click” and ultimately sent her on the path towards financial freedom

=> How a phone call to a local property owner turned into her first deal and a nice five figure profit

=> How she ironically went from profiting from burned-out landlords to becoming one herself

=> and Much More!

Rachel Hernandez | Best and Brightest Women in Real Estate Investing

We’re all ears Rachel. Take it away…

Good stuff Mobile Home Gurl!

Connect with “Best and Brightest” Rachel Hernandez

You know, they say that your net worth equals your network.

So, put your networking shoes on and connect w/ Rachel below…

Friend Up on Facebook

Follow on Twitter

Subscribe to YouTube Channel

Your FREE Real Estate Investing Resource Download

Now for your free REI training resource…

Rachel has donated a great tutorial on how to get started investing in mobile homes. Now, as a fan of mobiles myself, I definitely recommend checking this out. Mobile homes can be excellent little cash flow machines… and often times (as long as you buy ‘em right), you can get your total investment right back out of them in no time flat.

So, click below to learn how to get started in mobile home investing…

10 Do’s and Don’ts to Get Started in Mobile Home Investing

Alrighty, that does it for Part 7.

Be cool and show Rachel your support by clicking the Facebook “Like” button… AND leave a comment before ya go.

See y’all soon,

~ Patrick

… aka P-Rid

P.S. – Here are the links to the series for you:

Julie Broad | Esi Benedict | Shae Bynes | Christina Mellott | Stephani Davis | Surprise Special Guest | Rachel Hernandez | Susan Lassiter-Lyons

No related posts.

In today’s post, Marc Tonzillo shares buying and selling strategies  for real estate investors based on the market cycle…

I’ve been involved with real estate investing for over 15 years and have done my share of deals. These have included wholesaling, lease options, land contracts, straight rentals, land-lording and a foreclosure or two. This has given me large chunks of cash when I sold my rental properties, long term rental income and short term sums of cash when I flipped a contract.

Now I won’t say all of my real estate ventures have been a success. In fact much of what I’ve done, or tried to accomplish, has failed. I have realized though, through trial and error, what I’ve done right and what I’ve done wrong. And hopefully this article will help you avoid the same mistakes I’ve made. Who knows, maybe we learn more from our mistakes than from our successes.

The number one lesson I’ve learned is that an investor must invest along with the market cycle they’re in and they need to tailor their strategy to the current opportunities in their local marketplace. Now I know real estate investors make money every day in every market situation. I’m not saying you can’t accomplish any type of deal at any time. I’m sure you can. What I am saying, however, is that it can be MUCH better to look at the market condition your currently in, review local real estate conditions and then employ a strategy that lends itself to the HIGHEST probability of success in that marketplace.

Most of my career has been spent, wrongly, trying to use strategies that don’t work very well in the market I was in. Here’s an example…

When I first started out in the mid 90’s I learned about buying houses for no money down and then renting them out for positive cash flow. So I set forth trying to find no money down deals. Now I was living in Boston at the time in a pretty robust real estate market. Buying with no money down typically calls for finding sellers who will finance the sale for you. Once you locate a seller willing to finance, you turn around and attempt to lease the property for positive cash flow.

I had two things going against me before I even began. First, the market was good and the sellers were not willing to finance at all, let alone 100% of the purchase price. Secondly if I ever were able to find a seller to do this, it would be next to impossible to rent the house for a positive cash flow since the payments would far exceed the rental value. I was able to buy one low priced coop foreclosure for 10% down during this time and rent it for a profit, but doing this on a steady basis was difficult.

Another example… in the early 2000’s when the market was HOT I put all my focus into doing lease option deals with sellers. This was in South Florida. I was trying to have the seller lease their property to me with a long term option to buy at a predetermined price. It wasn’t working well at all. This was the WRONG strategy for a hot market. The owners didn’t need to sell on lease option when they could just stick signs in front of their homes and have them rented or sold in a few days. They didn’t want to tie up a price either. Meanwhile, other investors were making bundles by offering sellers all cash, putting the homes under contract and then flipping their deal to a ready list of hungry cash investors.

So what I’ve done, based on experience, is separate real estate market cycles into 4 segments: These are, declining market, bottom market, even (modestly ascending) market, hot market. Then I’ve determined what I would consider the most highly successful strategy to use in each particular market. Here goes:

Declining Real Estate Market

This would be after the peak when the market is definitely on a downward trend. The overall real estate market peaked around 2006. So I would liken this to the years between mid 2006 until late 2009 or the beginning of 2010.

In this, declining market, sellers tend to owe more than their homes are worth. This makes it difficult to purchase houses with equity. The market is going down so you certainly wouldn’t want to buy a house to hold as a long term investment. Better to wait for the market to hit the bottom.

You can try wholesaling short sales at this point but it grows more and more difficult to find an investor to flip your deal to. In my opinion the best strategy to use in this market is to focus on rentals. By rentals I mean either offering to lease a house directly from an owner with the right to sublet and making a cash flow that way or becoming a real estate agent and leasing homes for landlords. When the market is going down this is a great strategy since sales are slow and more and more people are willing to rent.

Bottom Real Estate Market

The market has stopped going down and prices have hit bottom. Sort of similar to the way the market is now. There are tons of foreclosures and short sales around.

In this market you want to focus on making money on these great deals. This includes buying foreclosures for all cash from the money you made when the market was hot and keeping the property as a long term rental, buying with private money or with partners, wholesaling foreclosures and short sales to cash buyers or becoming a real estate agent and specializing in selling foreclosures and short sales.

If you’re going to wholesale you’re probably better off becoming an agent since most of your cash buyers are going to look first to real estate agents anyway. Great deals are already direct to the public so you might as well sell them the way most investors want to buy them, thru a real estate agent.

Even (Modestly Ascending) Real Estate Market

An even market is where things have leveled off. Appreciation is slow, something like 3% per year.

In my opinion the best technique to use here would be to buy properties on terms. Terms meaning lease option, seller financing or perhaps subject to. The theory being is that in this market there isn’t any reason why sellers would not want to sell you their properties this way, especially if they are at all motivated. Think about it, when the market was going downward they couldn’t sell with terms because they had negative equity and when the market gets hot they won’t be motivated to tie up a long term price for little or no money down.

In an even market many sellers are motivated by debt relief and therefore are willing to allow an investor to just step in and pick up their payments. I’ve done this several times in even markets with some pretty good success. A great thing is that you have choices with what you want to do with the property after you have it under contract with your seller. You can rent the property and ride the appreciation wave to the top of the market, sell on terms and generate a cash flow from the spread between what your paying the owner every month and what you’re collecting from your buyer or you can flip the contract you have with your seller for a quick payday.

Hot Real Estate Market

Finally, there’s a hot market. This is a market where homes are selling like hotcakes. I’m talking in weeks to days rather than months. This market is NOT the time to attempt to buy rentals, buy foreclosures or buy on terms. This market does not lend itself to these opportunities and you will be beaten out by the tons of buyers out there who are ready, willing and able to pay the seller all cash.

I’ve found that in this market, above the other markets, it’s vastly more important to have a strong marketing system in place to find good deals. It’s imperative here to locate the deals before anyone else does. Not to mention have an agreement signed, notarized and recorded as quickly as possible. There’s too much competition in this market to take any chances.

In this market you want to offer to buy the house as is, with “all cash” and a fast closing. You want to make this strong cash offer. Then place the property under contract at the best discount you can get. Once under contract you will want to assign your deal to an all cash buyer who can close quickly. If the seller will allow it you could put the deal under contract with the right to get a mortgage and then sell to a mortgage buyer.

The point is that in this market you want to focus on deals where the owner gets all cash and then quickly assign your position. You won’t have any trouble locating buyers to pay all cash or obtain a mortgage because in a hot market, cash is extremely liquid and credit flows freely. Rather than assigning the agreements you have with sellers to end buyers you could be a real estate agent and sell homes as regular listings.

Much of what I’ve written here is theory combined with practice combined with many deals. I realize this is somewhat controversial in that many gurus teach that a real estate investor can accomplish any strategy at any time. I personally believe it can be done. All I can say, however, is that when I’ve gone against market cycles I’ve struggled but when I’ve followed the trend I’ve had some good successes.

Keep in mind that this is a model for using buying and selling strategies in different markets and doesn’t focus on marketing or how to find the deals before your competitors (which is also crucial). That’s another article…

________________________________

Marc Tonzillo has invested in real estate since the mid 90’s using creative financing techniques such as lease options, seller financing and contract assignments. He now specializes in advertising rental properties for landlords.

No related posts.

Wow! You guys and gals are in for a treat this week…

Our surprise special guest, Patricia Ridelle, is bringing us Part 6 in the “Best and Brightest Women in Real Estate Investing” series (and I REALLY had to pull some strings to make this happen!).

New to the series? Start w/ the introduction.

Now, you probably haven’t heard of Patricia before, but she’s been in the real estate investing trenches full time for over 7 years… and has actually been working side by side with me.

Patricia has a TON to share with you. So I’m gonna shut up and let her take it away…

Patricia Ridelle | Best and Brightest Women in Real Estate Investing

Enjoy :-)

Connect with “Best and Brightest” Patricia Ridelle

As you heard in the video, Patricia works “behind the scenes”… so she suggested connecting with me since I’m the face of the biz.

Click below to connect…

Friend Up on Facebook

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Subscribe to YouTube Channel

Your FREE Real Estate Investing Resource Download

As you know with our “Best and Brightest” series, each woman is donating a free real estate investing downloadable resource.

Well, Patricia reached into the MustKnowInvesting.com education vault and is giving you access to an audio tutorial called the “25 Must Know Mistakes to Avoid as a Real Estate Investor.”

By avoiding these common mistakes, you’re gonna save yourself both time and money.

So, click the link below and avoid these mistakes like the plague:

25 Must Know Mistakes Tutorial

Hope you enjoyed this week’s newest addition to the “Best and Brightest” series.

Does Patricia remind you of anyone???

I just can’t put my finger on it… hmmmmm…

See ya soon,

~ Patrick

… aka P-Rid

P.S. – Here are the links to the series for you:

Julie Broad | Esi Benedict | Shae Bynes | Christina Mellott | Stephani Davis | Surprise Special Guest | Rachel Hernandez | Susan Lassiter-Lyons

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