SHOW ME THE MONEY?



Today, I want to speak about where to find the money for buying real estate and/or fixing up your property getting ready to sell. Though I do hear tales of people buying a home for just a few thousand dollars, those deals are the exception rather than the rule in the Metro Charlotte area. Here are a few strategies to consider to find money for real estate ventures:




 

 

TAX REFUND- This time of year, many people are filing their taxes. Your tax refund might be enough monies for you to make a down payment or give earnest money on a deal.



SAVINGS- Consider using your savings for your real estate deals. Since everyone needs savings for unexpected needs, I would caution you to only use this stategy if you are going to use the money for short term deals.



CREDIT CARDS.- You might have a sufficient credit card limit to use cash from credit cards to fund a real estate deal. Again, I caution using this strategy only if you are doing to use the money for the short term.



OPM (OTHER PEOPLE'S MONEY)- Whether it be family or friend, everyone knows someone who has talked about investing in real estate but is not sure how. If you have the know-how on how to buy real estate, consider partnering with someone else who has the money. I would encourage to draw up a agreement on how this would work (e.g. will they share in the profit, will you buy them interest, etc.)



LIFE INSURANCE - If you have life insurance, you could borrow on the cash value of the policy. Check with your life insurance agent for more details about this.



PENSION/ RETIREMENT MONIES- There are some pension and retirement monies you can borrow from to purchase homes. If you have a self directed IRA, you can also use those monies to purchase real estate. Check with your pension or IRA administrator for more information.

 

 

 

HOME EQUITY LINE OF CREDIT- If you own your home, you might use a home equity line to fund your real estate deals. Check with a local banker for more information.



THE SELLER- In these days when property is selling quickly, a motivated seller might even be willing to do owner financing with no money down.



These are a few ideas on where to get money for your real estate deals. Good luck in your search whether you be a buyer or seller- Randy L. Wall, Lora Lee Properties

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THE S.O.L.D. METHOD TO SELLING PROPERTY


Today I want to share with you the S.O.L.D. method of selling a house.Of course, sold is what every home seller wants to happen when the list their house for sale.In this case, sold stands for some important tasks to do and actions to take.They are as follows:


S- ELECTIf you are planning to sell your home, select a real estate professional.I understand some homeowner’s hesitation in using a real estate professional these days.Perhaps they believe they can sell the house themselves and safe the commission.While a homeowner may sell the house themselves, a real estate professional can be a great asset to making that goal a reality.They understand the market,and have the contacts and skills to really make your house sell.


O-RDEROrder a home inspection.Many prospective homeowners order a home inspection before theypurchase a home.Perhaps you should order a home inspection even before you market the house for sale.A home inspection can help you see things that need repaired or upgraded that you have not noticed.Some things that a home inspector might discover can even be a deal-breaker;some things a home inspector might discover can be resolved or repaired quickly.Give a copy of the home inspector to the real estate professional to show to all those looking at your home.They will not only be impressed, but they can make an offer on your house with piece of mind.Be prepared to pay $300 to $400 for a home inspection.


L- ISTENListen to your real estate professionaland to the comments they share with you after showings.Unfortunately, some persons looking at a home cannot see beyond a kitchen that needs upgrading, a room that needs painting, or flooring that needs replacing.Listen to your real estate professional on these items.Also listen to what comments the real estate professional shares from folks who have toured your house.If the realtor does not share them with you, ask what things you can easily and affordably do to make the house appealing for showing.


D-ICKERBe prepared to dicker with prospective buyers.Remember this is a buyers market and there are lots of homes for sale.Be willing to consider lowering your price, countering an offering,or even paying for closing costs if you really want to sell the home.Do not be offended.I suspect that most of you reading this do not want to pay full price when you purchase a car.Well, most people will not want to pay full price for the sale of a home.


 

S-ELECT…. O-RDER… L-ISTEN….D-ICKER.Ifyou do these things,I believe that you will get it sold.Good luck, and have a fantasticweek.-Randy Wall, Lora Lee Properties

LOW HANGING FRUIT FOR HOME BUYERS

Have you ever heard anyone talk about low hanging fruit? That is a phrase that refers to something that is easier to retrieve or get. As most of us know, it is certainly easier to get the pretty apple or peach that you can pick on the lower limbs of the tree than the fruit on the upper branches. Today, I want to speak about low hanging fruit for buyers and sellers of real estate. Obviously, it is not as easy to buy or sell a house than to pick an apple. However, these are some ways in my experience that are easier than some others.




 




LOW HANGING FRUIT FOR HOME BUYERS

 

If you are looking for motivated sellers of properties, here are some places where you can find them:



HOMES FOR RENT- Property owners who rent homes or apartments may have something for sale. They may be like a property owner I spoke to last week who is tired of the hassles of renting.




ESTATE SALES- When someone dies in a family, there is often a home that needs to be sold. You can find estate sales in classified ads in your local newspapers or on the internet. Though they may only be selling the contents at first, you can contact them about whether they will be selling a home. One caution: approach these persons with care and sensitivity as they are in the throes of the loss of someone they love.




CODE INSPECTORS- Your county or city code inspectors can also be a source of motivated sellers. They may know of properties with code violations where they have been unable to get the property owner to correct the problem. Check with these public officials. A reminder that the information they have is public information.




REAL ESTATE INVESTMENT CLUBS- REIA's are a place where you will sometimes find motivated sellers. It might not have anything to do with the property, but simply that the real estate investor needs to liquidate their assets for some reasons. Check the internet for the real estate investment club near you.




COMMUNITY HELPERS- Community helpers like mail carriers, pubic utility personnel, firefighters, etc. can also be a source of motivated sellers. For example, a homeowner might nto want to repair a home after a fire. A mail carrier might know that a person is getting ready to have to move into a nursing home.




REALTORS- Realtors can be a great source for finding motivated sellers. By checking out their MLS, they can easily find out which homes have recently been reduced in price, been on the market for 90 days or more, or are foreclosures.



Good luck in your search. These are a few ways for finding a property that might turn out to be the apple of your eye.- Randy Wall, Lora Lee Properties



LOW HANGING FRUIT FOR HOME SELLERS



Have you ever heard anyone talk about low hanging fruit? That is a phrase that refers to something that is easier to retrieve or get. As most of us know, it is certainly easier to get the pretty apple or peach that you can pick on the lower limbs of the tree than the fruit on the upper branches. Today, I want to speak about low hanging fruit for buyers and sellers of real estate. Obviously, it is not as easy to buy or sell a house than to pick an apple. However, these are some ways in my experience that are easier than some others.



 



LOW HANGING FRUIT FOR HOME BUYERS

If you are looking for motivated sellers of properties, here are some places where you can find them:


HOMES FOR RENT- Property owners who rent homes or apartments may have something for sale. They may be like a property owner I spoke to last week who is tired of the hassles of renting.



ESTATE SALES- When someone dies in a family, there is often a home that needs to be sold. You can find estate sales in classified ads in your local newspapers or on the internet. Though they may only be selling the contents at first, you can contact them about whether they will be selling a home. One caution: approach these persons with care and sensitivity as they are in the throes of the loss of someone they love.



CODE INSPECTORS- Your county or city code inspectors can also be a source of motivated sellers. They may know of properties with code violations where they have been unable to get the property owner to correct the problem. Check with these public officials. A reminder that the information they have is public information.



REAL ESTATE INVESTMENT CLUBS- REIA's are a place where you will sometimes find motivated sellers. It might not have anything to do with the property, but simply that the real estate investor needs to liquidate their assets for some reasons. Check the internet for the real estate investment club near you.



COMMUNITY HELPERS- Community helpers like mail carriers, pubic utility personnel, firefighters, etc. can also be a source of motivated sellers. For example, a homeowner might nto want to repair a home after a fire. A mail carrier might know that a person is getting ready to have to move into a nursing home.



REALTORS- Realtors can be a great source for finding motivated sellers. By checking out their MLS, they can easily find out which homes have recently been reduced in price, been on the market for 90 days or more, or are foreclosures.


Good luck in your search. These are a few ways for finding a property that might turn out to be the apple of your eye.- Randy Wall, Lora Lee Properties


Contact Me : 704-789-3975