The Perfect Condo for Me

One day, I will own a really nice house on a large spread of land. Right now though, I need to keep my sights on something that is more affordable to me as I work my way up the corporate ladder. That is why I wanted to find an executive condo 2014, because I knew that it was something I would be able to afford. I had been living in a flat that I had outgrown, so I wanted something that was nicer and more convenient to my work location. I did not want to have to go to each development to look at them in person, so I looked online.

I was able to find a website that had all of the executive condos in my area there. Read the rest of this entry »

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Real Estate Agency Business Plan – What Do Conservative Projections Mean?

In reading about business plans, you may have heard the phrase “conservative projections” repeated a few times. Any projections of future revenues and costs for a business require assumptions, because, as we know, the future is always uncertain. However, to meet this definition of “conservative” projections, your assumptions must be reasonable in all areas. Here are a few ways to make sure they are suitably reasonable and your projections are conservative enough.

Market Conditions

Your projections shouldn’t consider that the real estate market and general economy is always booming, nor that it is always in bust. If you lack reliable information with which to estimate how market conditions may affect your business for good or bad, then take a middle-of-the-road approach. Although you can generally prepare for market conditions in the coming six months, your launch may be a year out and you need to estimate five years beyond that. Be clear as to how you applied the effects of the market in general to your projections and find information on how other real estate agencies are affected by the market to back you up.

Effect of Marketing and Sales

You shouldn’t assume that your marketing and sales efforts will work spectacularly at first. Instead of thinking in terms of the greatest possible returns from each marketing channel, think in terms of percentages. Read the rest of this entry »

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Social Marketing Ideas to Promote Your Real Estate Business

The Real Estate business… what could be less online oriented? Sure you can look at pictures, but your clients have to see the home, walk around, get the feel of the place. How can Social Marketing tools help you there? What’s Facebook or Twitter got to do with selling property?

Lots!

Every real estate professional knows that selling homes isn’t about buildings, it’s about people. And between advertising and networking, the pros spend 50-75% of their time trying to reach and interact with them. Present clients, potential clients, and past clients form the core of a realtor’s social network. Naturally, every active agent wants that network to grow.

But how?

Even at the most basic level, a site like Facebook lets you reach out to, contact, and interact with many more people than you could ever see face to face. It simply has a wider reach even than your phone. Something as simple as creating a Facebook Page instantly puts you in the pool where you can swim with lots of others. Read the rest of this entry »

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Starting a Real Estate Business

The real estate industry is very sensitive to economic changes like interest rates and the cost of materials in building houses. Interest rates in particular can easily swing the number of sales that are completed during any quarter of the year. Rising interest rates will slow down the sales and falling rates will aid the sales of real estate. This is an important fact in the real estate business as this can absolutely cause rapid changes in income from the sales that can be made.

With this in mind, the time to buy an agency that comes up for sale may be when the real estate business is in the doldrums. A hot real estate market will make an existing firm worth more, as their income will be higher during this period of time. Of course if you follow this course of action, you will have to wait out the slow down in the markets. Another factor in the purchase or start-up a real estate company is the state licensing requirements.

Most states have serious requirements for real estate agents and brokers. Brokers have a much stiffer requirement in most states than an agent. The requirements include passing exams and a fixed number of educational hours for both agents and brokers. There is also a requirement for continuing education. These state mandated steps to a career in the real estate business would have to be met before an agency could be purchased or started. Since this industry is regulated and has strong legal steps to comply with, this licensing plus experience would be an initial step to being an owner in this field. This is not a business that can be stepped into by just paying out some money. Read the rest of this entry »

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Setting Up Your Real Estate Investing Business – The Business Setup Checklist

Since I get over 1,000 real estate investors coming to my various real estate investor websites and registering with me each week, as you might expect, I get quite a few people asking me how to get started investing in real estate.

When my business was smaller and I was just running my own real estate investing business and our local real estate investor group meetings, I used to sit down and meet with investors that asked me this question individually. We’d go to lunch at my favorite burrito place and I’d ask them many questions.

I’d want to know about why they wanted to invest in real estate, what they expected to get from it, how they thought they’d be making money as a real estate investor, how much time and money they planned to invest in themselves and their real estate investing business, what their business and investing experiences had been so far, and so on and so forth. After a couple dozen of these meetings though, I noticed a pattern in what I suggested to each of them (and yes, it really took that many meetings for me to notice this pattern): I suggested that each one of them get started wholesaling real estate.

After I told them that they should wholesale real estate first, I’d then run down–very haphazardly–a list of the things they needed to do to get started in their real estate investing business. A few years have passed since those first meetings and the first time that I made a quick list of how to get set up investing in real estate. Over the years, I’ve had quite a few people get started in the business based on those meetings with me. So, in this article, I’d like to share with you my Business Setup Checklist for Real Estate Investors. Read the rest of this entry »

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Flipping Houses – The Best Real Estate Investing Business Model For Quick Cash

Flipping houses is often known as the quickest and easiest way to make cash as a real estate investor. Lots of investors flip houses wrongly because they have no idea how to approach it.

You must have flipping houses as part of your business model. Here are the reasons.

1) You can invest with little or no cash

Flipping houses, or wholesaling houses is the process of buying houses low, then flipping then at a higher price for profit.

You normally flip houses for cash to other real estate investors.

Once you get a cheap property, you put it under contract to buy. Little earnest money is needed for this, usually from under $100 to around $500.

The contract then goes to the title company or real estate attorney for title work. Read the rest of this entry »

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