Archive for the ‘Uncategorized’ Category

• Jul 7

  How to Become a Real Estate Agent

  Are you looking for a great career that can put you in touch with tons of people around your community? If you love watching “home renovation” shows, enjoy interacting with a variety of people and like the idea of helping families make great purchases, then becoming a real estate agent might be the perfect thing. Before you can become a licensed real estate agent, you’ll need to fulfill a few requirements and make some important decisions:

  • Decide if it’s for you. There are many things you’ll need to figure out before you decide to pursue getting your license. Real estate agents tend to work on a flexible schedule, meaning you may need to work in the evenings and on weekends. You’ll also need to know whether or not you enjoy working under deadlines and with a variety of different people.
  • Fill out an application. Before you proceed any further, you’ll have to apply for your real estate license. In most states, you have to be at least 18, although some states require you to be 21. Each state has different requirements, so make sure to research the particulars for applying in your state.
  • Take classes. Next, you’ll have to take classes in real estate. The courses can vary, but you can expect to spend at least 40 hours in the classroom. Many community colleges across the country offer licensing classes, or you might opt to attend a specialized school, so look around your area to figure out your options. You’ll learn about all the different aspects of the real estate field, from mortgage requirements to how to list properties on the MLS.
  • Find a broker to work for. After you’ve taken the classes, you’ll typically need to work for a broker for a period of time. This gives you practical experience in the field before striking out on your own – although you may decide that you enjoy working for a brokerage.

  If you’re considering a career in real estate, make sure you read up on the process and learn the different steps you’ll have to take to get licensed. Becoming a real estate agent is a fairly lengthy process, but you’ll be rewarded with an excellent career you can be proud of.

  Tags: real estate agent
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• Jun 29

  Real Estate Agents: Why Specialize?

  However, some people advocate for adopting a different tactic entirely – specialization.

   

  Specializing as a real estate agent offers you many benefits – but it can also potentially cost you. Because it involves becoming the expert in one area (while ignoring others) you’re setting yourself up for success in just one arena. If you’re thinking about specializing, consider the following:

   

  ●      Specializing may provide opportunities that others miss out on. If you decide to tackle, say, fixer-uppers for real estate investors in your area, you’ll be the person people turn to in those situations. When you become well-known for one thing, you might be able to find bigger and better opportunities that general real estate agents don’t have access to.

  ●      Focusing on one thing may cost you. If you choose to focus all your energy in just one small area, you’ll lose out on clients who want services other than the ones you provide. For example, real estate investors who want something other than homes to rehab may turn to other agents in the area.

  ●      Even if you specialize, you can’t reach everyone. Although the ultimate goal of specialization is to become the name in your particular niche, you may not be able to reach everyone in your area. For example, real estate investors who are just starting out may not be aware of your specialty. They might go to other agents instead.

  ●      Specializing doesn’t have to be all-or-nothing. Some people will claim that specialization takes an all-or-nothing attitude – you either specialize, or you don’t. However, you can build up an area of expertise without neglecting everything else. In other words, taking on a special focus while still working with all types of clients can help you become an expert in an area, even if you aren’t the only expert in your city.

   

  As a real estate agent, you have many options for growing and expanding your business. You may choose to remain fairly general, or you may wish to start specializing. Whatever you decide, make sure you can pull it off in your area.

  Tags: real estate agent, real estate investors
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• Jun 27

  Should Real Estate Investors Invest Locally?

  If you’re interested in real estate investing, chances are you’ve looked around your area for properties to purchase. Of course, you may be missing out on great real estate investing opportunities if you don’t look at other hot areas. Before you invest, you should decide if you want to put your dollars into the local economy or if you’d rather look into properties in another area. Here are a few pros and cons to help you decide which strategy is right for you:

   

  Investing Locally

  ●      There’s less travel involved. Obviously, local investing means you’re not going to have to travel as far reach your property. Real estate investors who invest in other cities may find themselves traveling frequently to check up on their property, but keeping it local saves you both time and money.

  ●      Local properties may be easier to manage. If you’re located in the same area as your investment, you can help out more easily when there are problems. From a water pipe bursting at an apartment complex to vandalism in a commercial area, issues are easier to resolve when you’re in town.

  ●      It’s easier to do your homework. Finding out information about a property may be easier in person. Although the Internet has made it faster and easier to do research from afar, nothing beats being able to inspect the property yourself.

  ●      You may be missing out on opportunities elsewhere. Unfortunately, investing locally may mean you’re losing out on a great investment somewhere else.

   

  Investing Out of Town

  ●      You’ll face increased travel time. Time spent in a car is something you can never regain. Consider how far you’d have to travel to reach your property before you make an investment in another city.

  ●      You can work with a property manager. To make your non-local investment easier to manage, you may want to hire a manager or even a company to run the property for you. They’ll deal with the day-to-day issues of managing your property. Keep in mind that this can cost a significant amount of money, so it’s worth researching before you make a purchase.

  ●      You might be able to make a better investment. If your local area is clogged with bad investments, looking outside your city may give you a chance to find a better property. If your local area doesn’t have any options and you’re itching to get into real estate, looking elsewhere may mean that you find the investment opportunity you’ve been dreaming of.

   

  Real estate investors, especially first-time investors, should probably look in their area before searching farther away. Local investments are easier to manage for most real estate investors, and while it’s true that investing farther away may be a viable option once you’re more established, it can be a risky thing to do when you’re just starting out.

  Tags: real estate investing, real estate investors
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• Jun 17

  Coolest Flip This House Transformations

  If you like rehabbing properties, chances are you’ve seen many episodes of Flip This House. This show is a treasure trove of tips for aspiring and practicing flippers – and it showcases the drama that can come along with flipping homes for profit. Some transformations, however, go above and beyond the usual flips:

   

  ●      Serious damage to seriously beautiful. In the episode “A Well of a Tale,” Than has his work cut out for him turning a dilapidated West Haven home into a gem. Not only has the home experienced extensive fire damage, it’s connected to well that no longer works. Than managed to turn it completely around, rescuing this beautiful house and flipping it into a spacious, open home complete with new roof and kitchen.

  ●      Beautiful bargain buy. The Flip This House episode “Than’s Bargain Buy” features a home in serious need of an upgrade. This two-family property had been vandalized by squatters, who stole all the copper piping throughout the structure. In addition to serious external upgrades, Than’s team made gorgeous changes to the interior, including installing new carpet.

  ●      Huge house, huge profits. “Brotherly Love” exemplifies how rehabbing properties can net a huge profit. In this episode, a huge two-family home is in shambles. Adding a new roof, two new kitchens and overhauling the heating systems posed quite a challenge. The final product is a large, beautiful house – that helped Than’s crew turn a huge profit.

  ●      Three-family flip. In “Hartford Headache,” Than and his team take on a huge project: renovating a three-family fixer-upper in Hartford. Mortgage fraud makes the project even more challenging, since all the previous “renovations” were superficial. Than’s team took on three kitchens, three bathrooms and three heating systems, as well as entirely new flooring and repainting in all rooms. The finished product is a large property complete with white picket fence.

   

  If you’re thinking about rehabbing properties for a living, catch a few episodes of Flip This House. You can gain inspiration and valuable tips – all while learning about the dramatic world of flipping houses.

  Tags: Flip this house
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• Jun 6

  4 More Productivity Tips for Real Estate Investors

  Have you ever looked at the clock and wondered where your day went? Do you wish there were more hours in a day so that you’d be able to accomplish all of your real estate investing goals? If you’re like many real estate investors, there’s not nearly enough time to get everything done. Last week, we talked about ways you can be more productive – but there are many more ways for real estate investors to get more done each day:

  1. Set your desk up for success. Many people feel overwhelmed when they look at a messy desk. When your papers are scatted all about in a huge pile, you lose valuable time hunting down everything you need. Reorganizing your desk takes time, but it’s well worth it in the end. Set up an inbox and an outbox – any tasks you have yet to accomplish go in the inbox, and everything you’re finished with goes in the outbox for mailing, signing or filing.

  2. Set up “task blocks.” If you have to accomplish many of the same kinds of tasks, group them together when you’re planning out your work for the day. Set aside a designated time for signing paperwork, researching properties, making outbound calls or other real estate investing tasks. This can save you lots of time in the long run, since you’ll be less likely to get distracted between projects.

  3. Set aside the last hour of the day. If you can, use the last hour of your day to prepare for tomorrow – do any leftover filing, write up a “must do” task list or finish a task you couldn’t get to. You’ll feel a huge sense of accomplishment, and you’ll be less stressed when you go home.

  4. Get out of the office. No matter where you work, you should take regular breaks. If you give yourself a mental (and physical) break from work, you’ll come back refreshed and ready to go instead of sluggish and tired. Sometimes, all it takes is ten minutes away from the desk to get recharged.

  Real estate investing can sometimes seem like a job that’s never done. However, if you follow a few simple tips, you’ll find that you can get more done in a day – and feel more accomplished when you go home. Next time you’re in the office, why not try one of these productivity tips for real estate investors?

  Tags: 4 More Productivity Tips for Real Estate Investors, real estate investing, real estate investors
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• Jun 3

  Real Estate Investing Activity Up, It This Good Or Bad For You?

  The last couple of weeks have seen many reports in the news reporting a surge in real estate investing activity and a return to the market by many investors who have been on the sidelines. So is this a good or bad thing for real estate investing companies and individual investors, and what are the real facts?

  A survey of real estate investors by Move, Inc. provides a little more detail into what real estate investing pros are up to and are planning. Perhaps most notable is the fact that 33% of investors said they were planning on buying a home in the near future compared to just 8.6% of typical retail buyers. This is about a 3 to 1 ratio of investors to regular buyers. In some circumstances this could be worrying for real estate investing companies if these investors where just involved in long chains of flipping houses and pumping up values. However with so many investors and real estate investing companies opting to rehab and rent properties, a large demand for rentals and what some may consider a shortage of wholesalers there should be no reason for concern.

  What is also interesting about this real estate investing survey is hearing other investors opinions on the market. Over 69% of those surveyed said they expect it will be easier to find properties in the near future. It is great to see investors bullish on the market, but with such a supposed glut of foreclosures on the market it makes you wonder why the other 30% seem to think finding deals is so difficult. Perhaps a lack of a good source for wholesale properties?

  When questioned about their opinion on their competition with first time home buyers for the best real estate investing deals 65.5% of investors said that they expected the issues first time buyers have getting financing today will give investors an edge. 18.5% also said that they would only be buying cash, something most first time buyers can’t do. 80.5% also anticipate cash discounts on the properties they are buying too.

  So in summary, those in the real estate investing game may be facing a little more competition for deals in the coming months, however the great news is that there are plenty of other investors for flipping houses to who are cash buyers and need access to a good source for wholesale deals. Sounds like you have got it made!

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• Jun 3

  The Key To Selling Homes Like A Top Pro

  

  If you want to make flipping houses easier and start selling your homes for more, then you may want to take some notes from some real estate agents who have been selling their own properties.

  The statistics show that real estate agents selling their own homes average a 3% higher sales price. When you take into consideration that the are not normally paying any commission on this sale the spread is even bigger, ranging from 3-9% more in profits. So how are they doing it, and what can you learn and add to your real estate education to help you make more money on all the real estate investing deals you do?

  Of course, regardless of your strategy, making big profits from real estate investing all starts with buying right. Real estate agents can be a good source for properties, but they sometimes also cherry pick the best deals for themselves too, so have other sources for finding deals for flipping houses too.

  For the sellers they represent real estate agents act as a source of feedback as they deal with many buyers every month and can give an unbiased opinion on the home and how to make it more appealing or point out which features should be highlighted. So make sure you get some feedback on your properties too, whether it is consulting an agent or just from friends or other real estate investors.

  Real estate agents have a deep understanding of how to price a home. So brush up on your own real estate education and learn how to price your real estate investing deals better. There is quite a bit of strategy that can go into it and when you raise or lower prices.

  When it comes to accepting offers, the data suggests that when selling their own homes real estate agents tend to hold out a little longer and demand a higher price. Their average listing time is about 10 days more than for other homes. They may not be as motivated by a 3% commission of an extra 3% higher selling price for someone else. However, when you are putting it all in your own pocket it can make a big difference to your bottom line, so don’t always just jump on the first offer you get and watch your real estate investing profits rise.

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• May 30

  Productivity Tips for Real Estate Investors

  While real estate investing can be an extremely lucrative job, it can also be fairly stressful. Sometimes, real estate investors feel that there aren’t enough hours in the day to accomplish everything they need to get done. From viewing properties to consulting with lawyers, real estate investors have many demands on their time. Fortunately, there are tons of great ways to streamline your real estate investing business and your schedule to make investing easier:

   

  ●      Cut down on e-mail. While this can be hard for many people involved in real estate investing, cutting back on e-mail can help you out in several ways. First of all, you’ll be spending less time reading and responding to e-mails that can wait. Second, you’ll teach people that they should call you in case of an emergency. This frees you from being tethered to your computer, and it stops you from procrastinating on important business by checking your e-mail. If you can get on an e-mail schedule and only check it twice a day, you’ll be surprised at the amount of time you’ve freed up.

  ●      Define your work. One great way to be more productive is to put all your tasks in a single place, then work through the pile. At the beginning of the day, sort through any tasks you didn’t do the day before and prioritize them based on their deadlines.  Work around your meetings and viewings to get the rest of your work done. Many real estate investors find making a numbered list of tasks helps them get more done.

  ●      Do a productivity check. Every so often throughout your day, take a moment and ask yourself if the task you’re currently doing is really the best way to be spending your time. This will help you stay on track – you’ll end up working on the most important things first.

  ●      Schedule meetings. How many times has an employee popped into your office for a quick meeting? How often do you get phone calls right in the middle of an important task? Start asking people in your life to schedule meetings with you instead. Even if you set the meeting for an hour later, you can get back to your work and complete it without interruption. Wrap up in time for your newly scheduled meeting.

   

  Productivity is all about getting stuff done – and so is real estate investing. Make sure your investing business runs smoothly and efficiently by focusing on productivity.

  Tags: productivity, real estate investing
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• May 27

  Top 5 Coolest Real Estate Investors

  Anybody can get into real estate investing, but it takes a special type of person to become one of the truly great real estate investors. Great real estate investors have to have a sharp mind, the ability to take a risk and a keen knowledge of the market. Here are the top 5 real estate investors:

   

  1.     Donald Trump. The Donald shows how real estate investing and fame can intertwine. Host of TV’s The Apprentice and putative 2012 presidential candidate, Donald Trump built his real estate investing empire after joining his father’s company in 1968. His current status on lists of the world’s richest people is unchallenged – thanks in large part to his real estate acumen.

   

  2.     Robert Allen. Mr. Allen is known primarily for his line of real estate investing and personal finance books. He advocates buying property with no money down and recommends creating multiple income streams. He’s become increasingly involved in the world of online wealth and has hosted many seminars on how to create and manage wealth.

   

  3.     Conrad Hilton. This hotel tycoon laid the foundation for the Hilton International Company with a single hotel that he purchased in 1919. Hilton was the first international hotel chain, and today Hilton hotels continue to be known for their high standards. You can find a copy of Be My Guest, Conrad Hilton’s autobiography, in hotel nightstand drawers around the world.

   

  4.     Robert Kiyosaki. Another real estate investing author, Robert Kiyosaki is the author of the Rich Dad series of books. He’s also one of many prominent real estate investors in America. Kiyosaki believes in the importance of passive income, such as income from real estate investments.

   

  5.     Steve Wynn. Steve Wynn is known for his Las Vegas hotels and casinos. His real estate acumen proved valuable (for him personally) during the resurgence of Las Vegas in the 1990s, when he acquired The Golden Nugget. Wynn is known for his luxury-themed hotels, his smile, and for a commercial in which he sits perched high above Las Vegas on a tiny little platform atop the Encore hotel, his feet dangling off the edge. For real.

  From massive hotels to passive income, real estate investors can build their real estate empire in a variety of ways. Reading about these cool real estate investors may be just the spark you need to start your own real estate investing business.

  Tags: real estate investors
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• Apr 18

  7 Coolest Connecticut Homes

  Whether you’re a first-time home buyer or you’re looking to relocate, Connecticut is a great state for buying a home. If you’re an architecture fan or a connoisseur of haunted houses, Connecticut also has some of the coolest homes in America. From historical houses to creepy former funeral homes, here are a few Connecticut homes that are sure to astound you:

  1.    Brant House. Built by Robert Venturi in 1972, the Brant House in Greenwich is one of Connecticut’s coolest homes. It’s also one of Venturi’s earliest works, and showcases his belief that “less is a bore.” He designed it to showcase a young family’s growing art collection.

  2.    Southington Funeral Home. One of America’s most famous “haunted houses,” this former funeral home was turned into a duplex in the 1980s. Now considered the “Amityville Horror of Connecticut,” the home has been featured in several media outlets, including a book and a documentary.

  3.    Breuer House II. Architect Marcel Breuer built this home in 1948 to serve as his primary residence. Its sharp angles and modern style showcase the architect’s artistic eye.

  4.    Lookout House. Originally built in 1979, the Lookout House was renovated to incorporate sustainable and environmentally friendly materials like bamboo and glass. The Lookout House combines the old house with the new extension with a glass bridge between the two.

  5.    Johnson Home. This literal glass house was designed in the 1940s to serve as a “life stage.” Although it incorporates private areas (such as a circular bathroom), the home was never meant to be lived in and instead serves as a masterpiece from the architect Philip Johnson. If you’re looking into buying a home in Connecticut, you might want to look elsewhere.

  6.    Smith House. In the later 1960s, Richard Meier built the Smith House as a piece of sculptural architecture. The home incorporates many layers that are meant to be reminiscent of rock outcroppings and the shoreline.

  7.    Pool House. This amazing Connecticut pool house was designed to look like a ship sitting in the water. The glass sides open up to the outdoors, making the entire structure feel light and airy.

  Connecticut is a great state with tons of options for buying a home. If you’re thinking about relocating, consider Connecticut – with its wealth of cool homes, you’re sure to find something you love.

  Tags: connecticut homes
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