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Wholesaling Houses: 5 Things That Separate The Best From The Rest

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on Thursday, 05 October 2017
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What separates the best and most successful in wholesaling houses from everyone else?

Many are being attracted to real estate wholesaling. Yet, there continues to be a big divide between the few who are doing 80% of the business, and the masses kicking around deals without much in the way of results. What do top performers do differently?

Think Big

The most successful house wholesalers are typically those that think the biggest. They aren’t looking to make $100k per year. They are looking to make $100k or more per month. They don’t shoot for a handful of deals per month. They are looking for 10 plus deals each month. They have really big visions.


Serious About Finding Good Deals

Great wholesalers are serious about finding very good deals. They are looking for deep discounts, and fat spreads. They are also looking for houses that they can resell. They are looking for 100% returns, $100k spreads, not just a handful of bills, nor deadbeat properties that are just going to be a nightmare.


Care About Presenting Good Deals

One of the biggest differentiating factors is that they care about being able to present good deals to their buyers, and are willing to invest the time and effort in that presentation. They know that their success and ability to stay in the business relies on it. If they just throw up properties that have big lurking issues or un-insurable titles, they are going to burn their buyers bad. At best they’d lose their reputation and any chance at repeat and referral business. Solid wholesalers want their buyers to be profitable. They want them to succeed, and come running back for more, and for them to easily be able to make a good decision based on the information provided.

They Understand Real Estate Financing

This will make or break investors. There are a lot of nuances in mortgage financing. Wrong assumptions have bankrupted many new investors. Those with the best understanding of it have the ability to move with confidence, and complete deals others can’t.

Invest in Building a Great Brand

In order to have more negotiating power, to have prospects seeking you out, to win great investors and vendors, and to hit full potential, you’ve got to build a brand. It has to be memorable, recognizable, and carry value. Leading wholesalers do this by giving their branding the thought it deserves, bringing in a great team, and putting out quality materials.

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Top 4 Common Questions from Beginners to Wholesaling, Answered

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on Thursday, 11 May 2017
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Are you considering jumping into real estate wholesaling? Do you have questions and you're struggling to find the answers? Below, you will find the most common four questions beginners to wholesaling ask and the answers.

Is wholesaling illegal?

Most beginners start with this question or some form of this question. They think, it can't possibly be legal because it sounds too good to be true. After all, most of us were taught, if it sounds too good to be true, it probably is.

Real estate wholesaling is legal, but you do need to make sure the right verbiage is used on your contracts. Consulting an attorney for help with your contracts is always a smart idea.

How can I Find a Good Mentor?

Many new wholesalers want someone they can ask questions to, bounce ideas off of and someone simply to be there for them when they're not sure what to do. It's important to look for more than just a mentor. If you don't have value to bring to the table, they may not be interested in mentoring you.

Start taking action by putting out bandit signs, using direct mail marketing, cold calling or doing something else and you'll find a mentor. Better yet, your mentor will find you.

What do I say to a Seller?

New wholesalers often wonder what to say to a seller. You should actually be doing more listening than talking with the seller. Asking questions about why they are looking to sell, how they would like the sale to go and if there are any repairs needed, will help you gain the information you need.

How Much Should I Offer for a Home?

Figuring out how much to offer is a bit of a science and it will vary from one market to another. Usually, the formula is simply ARV x 70% - Repairs - Wholesaling Fee. This will give you the maximum you want to offer, but it could vary a bit depending on the market and how aggressive you want to be.

How Should I Find Buyers?

As a new wholesaler, you probably want to start building a list of buyers. You can start by using other local investors to help with finding buyers before you have your own list.

Building your own list can be done by using ads on Craigslist and a simple Google search for potential cash buyers in your area. You can also pull a report of all the real estate sales that were cash deals in your area. Those buyers are probably going to be your buyers, too.

 

These four questions are commonly asked by new real estate wholesalers. If you're planning to start wholesaling or you're very new to it, make sure you take the time to do your research, gain answers to your questions and build your confidence.

Authored by Best Transaction Funding BestTransactionFunding.com is the leading source of transactional funding for real estate wholesalers in the US, where 100% financing, and saying “Yes” is what we love doing all day long.

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Smart Spring Moves For Your Real Estate Business

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on Tuesday, 14 March 2017
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This is the season to optimize your real estate business, and make those big leaps in results…

Spring is here. Easter will be on us soon. Then we’ll be in the heat of the busiest real estate season of the year. Those who set themselves up for success now will have a major advantage in the marketplace.

So, what can real estate business owners and investors do now to ensure they take the lead and hit their full potential?

Spring Clean Your Office

Whether you have thousands of square feet of physical office space, or your office space is a corner of a couch and a laptop – this is a great time to clear your space. Get rid of the clutter and optimize your work zone so that you can be as efficient as possible.

Take a day to clean out your devices to free up storage and get rid of distractions. Unsubscribe from junk email lists, ditch apps you don’t use, and be sure files are backed up in the cloud.

Get a cleaner to spruce up your workspace, and perhaps add a few fresh interior design touches to flow with the new season, and to spur your productivity.

Spring Clean Your Portfolio

This is a very pivotal time for real estate businesses and investors. There are many great opportunities out there, as well as some holdings which have certainly already delivered their best performance. Whether it is stocks and bonds, CDs, REITs, rentals or office property, now is the time to sell off the old and reload with the new.

Spring Clean Your Marketing

It is sad to see so many real estate entrepreneurs and ventures with such great potential who are seeing everything derailed by their marketing. For some it is because they’ve been too busy to clean things up. For others it has been getting lost in the mayhem of trying to do everything themselves. Don’t let this hold you down. Get this right, and leap forward with a clean slate. Or everything you attempt going forward will be hindered by this clutter. Brush up on your website maintenance to update plugins, upgrade design, clean up broken links, put in relevant SEO, and increase load speeds. Then clear out all your old blogs and social media posts which no longer match your brand and business model. If you have been managing a dozen freelancers or agencies you may want to streamline that too. Maybe one can do it all, saving you hours a month in micromanagement, while increasing results.

How will you clean your spaces and leap ahead this spring?

Authored by Best Transaction Funding BestTransactionFunding.com is the leading source of transactional funding for real estate wholesalers in the US, where 100% financing, and saying “Yes” is what we love doing all day long.

 

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Real Estate Business Planning Smarts For 2017

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on Wednesday, 28 December 2016
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2017 promises to be a big year for real estate. How investors, professionals, and business owners plan now will make all the difference in how much they benefit from the opportunities over the next 12 months.

The U.S. real estate market is definitely entering 2017 on a positive and confident note. The overwhelming sentiment is certainly bullish. That also means it is competitive too. There may be some quick wins to be had while the rest of the industry is still getting warmed back up after the holidays. Yet, who reaps the biggest gains and is still surviving and thriving at the end of 2017 will be those than plan well know.

There are clearly lots of good things happening in the markets, and specifically real estate right now. That has some side effects too. Inflation is a big one. It will catch many investors, agents, and real estate business owners by surprise. We’ve already seen interest rates moving up. Three or more rate hikes are coming in 2017 according to the Fed. This alone means things will get more expensive. Life in general will get more expensive for home buyers and renters, and employees. Hopefully it also means more money in the economy to be spent. Still, it is crucial to factor these rising costs into plans in order to stay afloat and on top of your game.

This will come into play in property costs, and the cost of most types of leverage. That can often be balanced out in the market. Then there are other costs. The cost of building materials, gas, marketing materials, and freelance workers. You have to build these escalating expenses into your plans. Otherwise you’ll quickly be upside down, if not at least be experiencing far thinner spreads than projected. This shouldn’t be a big problem for wholesalers. It may be a little more challenging for rehabbers. Even more so for buy and hold landlords.

With this in mind some will find it highly profitable to lock in contracts and even prepay vendors and contractors in advance before the ball drops for 2017. This will not only hold down costs, but may provide additional tax benefits too. Others might be able to negotiate preferred terms with vendors and contractors by going long with engagements. Instead of month by month print marketing look at quarterly and annual deals. Instead of piece by piece with freelancers consider monthly or annual arrangements. You may get them to put in more effort in investing themselves in your success too.

 

Plan well now. Reap the benefits all year.

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5 Places To Find Home Buyers Now

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on Thursday, 01 December 2016
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Where are the end home buyers for your real estate deals now?

For several reasons we could see a new surge in home buying over the months ahead. So how will you take advantage of the potential for more business and smash through your 2017 goals fast?

More Home Buying Activity Ahead?

Between a new bullish outlook on real estate following the U.S. presidential election, anticipation of higher interest rates, looming tax deadlines, and a generation of ex-homeowners now seeing their credit bounce back after the 2008 crisis, there could be more retail home buyers, investors, and funds looking for properties over the next few months.

You’ve probably already set bigger and better income and transaction goals for the new year. With the best transaction funding investors can really do an unlimited amount of deals. The key is having the end buyers lined up to flip them to. So where do you find the buyers now?

China

Despite what Trump has said, we know he has worked heavily with Chinese investors before. New data shows China continues to grow its investment in the US by billions of dollars. With ongoing questions over the future of Asian real estate, and a brighter outlook for America, don’t be surprised if Chinese buyers and investors continue to be one of the most impactful factors in the market in 2017. A smart way to get ahead of the competition here could be utilizing Google ads to reach buyers abroad.

Crowdfunding Portals

Crowdfunding has been swelling in popularity. It may not be as easy to raise money on these portals for the masses, as hoped. However, those that have been successful continue to have a lot of capital to deploy. Look for these buying sources and get right to the money without worrying about launching your own crowdfunding campaigns. They need the inventory. If you can provide it you might have a match.

Note Buyers

There is still a significant amount of distressed property and paper out there. However, those numbers are likely to keep shrinking. Some note investors may need to begin augmenting their deal flow and incomes by investing directly in bricks and mortar. Many already have the capital to make acquisitions.

Lead Lists

Acquire new targeted lead lists of qualified buyers. Data vendors may have lists of those who recently applied for mortgage loans, data by credit score, and more detailed information on investment appetite and strategy. Use them to send emails, direct mail, or call.

Realtors

Don’t dismiss real estate agents. They cultivate big buyer lists and would love to serve them up fresh deals. Just price in whatever commission rates you negotiate and create more win-win scenarios.

 

Authored by Best Transaction Funding BestTransactionFunding.com is the leading source of transactional funding and 100% financing for property wholesalers in the United States.

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23 Twitter Accounts For Real Estate Investors To Follow Now

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on Thursday, 08 September 2016
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Want to build your network, ensure you are wired into trends, and boost your potential in real estate? Check out these 23 Twitter accounts, why you should follow them, and then send us your handle so you grow your contacts too…

1. @BestXFunding for funding news and marketing tips for wholesalers

2. @SenseiGilliland for real estate education and tips from a Top 50 REI blog

3. @PropertyShark for real estate data

4. @360Investment operated by author, doctor, and investor Amir Baluch

5. @Apple for how to get 500k followers without posting a single Tweet

6. @PeterThiel for how to get 130,000 followers with a single Tweet

7. @ElonMusk for insight into the life and mind of one of our top entrepreneurs

8. @RENTCafeApts for data and insight on changing US cities and skyline

9. @Realty411netwrk for event info and insight from top real estate industry leaders

10. @MIT_Romeo tips on title, MI real estate, and marketing for real estate pros

11. @finkd Mark Zuckerberg’s once secret Twitter account

12. @BillGates for inspiration on going really big

13. @KatyPerry who has the most Twitter followers in the world, 2x more than Kim K

14. @NASA on thinking really big, and where we may be flipping homes in the future

15. @Instagram since it is now way hotter than Twitter

16. @StatistaCharts for data and statistics on more than 80,000 topics

17. @Realtors for sarcastic Tweets, real estate tips, and more

18. @Google for news on Google maps, new apps, and when to spruce up your SEO

19. @HGTV highlights from the latest reality TV real estate shows

20. @NinjaWithAPen for new real estate books, marketing tips, real estate news

21. @RealtyTrac delivering real estate news, foreclosure and flipper stats

22. @QuoteFancy for daily motivational quotes

23. @TwitterBusiness marketing tips for businesses on Twitter

 

Authored by Best Transaction Funding BestTransactionFunding.com is the leading source of transactional funding for real estate wholesalers in the US, where 100% financing, and saying “Yes” is what we love doing all day long.

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Does It Matter Who You Flip Your Properties To?

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on Thursday, 25 August 2016
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Does it make any difference who you flip properties to?

Some real estate sellers really don’t have a choice who they sell to. If they list a property with an agent, on the MLS, or at an auction, they really can’t pick and choose. If a buyer comes in with a full price offer their agent is at least due commission for that. But house flippers and wholesalers do have some control.

You can choose who you promote your property deals to. And you should.

Note that you cannot, and should not discriminate in any way, shape, or form. That also means you should be able to back up your choices of buyers. Government and regulators are increasingly stepping in, and at least in one area now control how landlords choose tenants. But it is very important to choose.

Why? We aren’t just talking about selecting the best qualified buyer who is most likely to close on time. That’s a given. However, as the market changes investors will find their future in the business is largely dictated by their buyer choices.

It matters for your reputation. It matters for staying out of legal trouble. In turn this will make a big difference in how many referrals you get, how many repeat deals you do, and the volume you can do. If you are tied to a rehabber who does a shady job and just covers up the mold instead of remedying it, or who does dangerous and illegal electrical work, that can come back to haunt you. Not just legally, but having to live with the fact that you had a hand in harming someone else and their family.

While we all want to maximize profit that also means looking at the long term picture. Are your end buyers pulling a ‘Valeant’ and are pumping up prices so high they are unsustainable, and that they will derail the area due to lack of affordability? Or are they helping people get into good homes and investments while making a fair, but very attractive paycheck?

So how do you get the right buyers? One conversation will usually tell you a lot about a person and their motivations. Google is a pretty handy and fast to use tool as well. Though you can also streamline this process and filter your funnel by sourcing buyers from the right places. Instead of blasting out to the whole world, what if you sought buyers from on and offline groups that shared your same values. Who follows the same people on LinkedIn or Instagram as you do? Who attends the same types of local meetups?

This isn’t an easy decision, and it may not appear to put the most money in your pocket this month. But in two years from now it could make all the differences in whether you are still in the real estate business, and how much of your gains you get to keep.

 

Authored by Best Transaction Funding BestTransactionFunding.com is the leading source of transactional funding for real estate wholesalers in the US, where 100% financing, and saying “Yes” is what we love doing all day long.

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How To Get Even More Out Of Attending Real Estate Events

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on Tuesday, 15 March 2016
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Regularly attending real estate events is important for all investors, agents, and business owners. But there can be a massive difference in what you get out of them. Here are ten tactics for getting more from every event you go to…

1. Sign Up Early

Most real estate and business events are annual affairs. Some are even more regular than that. The point is that you should be able to line up your schedule early, and plan your year out in advance. This can often yield great discounts on early bird tickets too.

2. Plan Your Trip Well in Advance

Get the best deals on your trip, and the best vehicles and hotels rooms by booking early. Many events will have a limited number of discounted hotel rooms on site.

3. Connect with Others Before You Go

Get the conversation and connections going weeks in advance by joining in on social media online. Use the custom hashtags, find out who else is going, and start getting some benefit way before you go.

4. Decide on Your Number One Takeaway

Whether it is a networking event, expo, conference, or seminar, there is bound to be a ton of information streaming. You simply can’t take it all in, in a useful way. So decide on a main takeaway before you go.

5. Know Your Questions

You’ll probably have privileged access to real estate industry experts that you wouldn’t otherwise get. Some are never reachable, others might normally charge thousands for personal consultations. List your most important questions so that you get the most you can out of it.

6. Load up Content for Social

Real estate events are great for loading up on content for social media marketing. Snap all the pics you can, load up on quotes, and more.

7. Get in Early and Sleep

Try to plan your arrival in plenty of time to get to your room, and sleep off the jet lag. That way you’ll be up early, awake, and operating at your best.

8. Connect on the Spot, Build Lists

Don’t just leave your business cards in vendors’ bowls. Trade contact details, connect on social media channels on the spot, and add everyone you can to targeted lists.

9. Download the Content

Well organized real estate events will send out content afterwards. Download the videos and other content, review, and share it with your team.

10. Take Action

You may find great inspiration, new leads and tactics, but it isn’t going to make any difference in your real estate investments or business, unless you take action. It’s too easy to procrastinate, so put it on your calendar. Schedule a hard date by when you’ll implement what you’ve learned, and automate follow up.

Summary

Real estate events can be powerful tools for leveling up your game. Going prepared and having a solid game plan can make a dramatic difference in what you’ll gain from them. Put these 10 tips in play the next to you go to event and see the difference for yourself…

 

Authored by BestTransactionFunding.com – the #1 source for transactional funding, and hard money loans for real estate wholesalers.

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Why the News Has the Housing Market all Wrong

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on Tuesday, 02 October 2012
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Why is it that the media and some real estate portals seem to have the housing market all wrong, what’s really going on with inventory and the direction of the market and does it even matter for those flipping houses?

Why is the News and Other Real Estate Investors So Out of touch with the Market?

For a start the media often relies on faulted data for its stories and is also clearly influenced by the bias of an array of different motives. On top of this, while national housing statistics present a (really) rough picture of what trends are on a countrywide level they balance out the disparity in some many different markets.

Publicly available inventory is way down in some regions and foreclosures may even be falling in some zip codes, pushing up home prices. In others quite the opposite may still be true and new waves of foreclosures and masses of distressed properties are causing the ‘average’ home price to slide. So what you may be seeing on the street in your market may really be completely different to an investor somewhere else.

However, the real question real estate investors should be asking is…

“Does it even matter?”

Clearly the direction of the market has proven to mean very little to those flipping houses. It may affect buyer confidence but the last 7 years have proven that big money can be made from wholesaling real estate, even in rapidly declining markets.

What about foreclosures? Investors must remember that foreclosures are just one part of inventory. How do you think so many millions were made in the last boom when foreclosures were virtually unheard of and were essentially non-existent?

3 Strategies for Beating the Market

1. Where You Look for Properties

Tight inventory can make it feel tougher but maybe you just aren’t looking at it in the right way? Tight inventory = rapidly appreciating home prices.

2. Diversify

Contemplate how can you get ahead of competition or find other sources of different types of distressed property besides those being foreclosed on for not paying their mortgages.

3. Create Your Own Market

Truly talented and savvy investors know how to create a market for their product, whatever it is.

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