Auctionrealestatesales
Auction Real Estate Sales

It’s easy to find a real estate agent. Just put a for sale sign in the yard and wait for the phone to ring. The question is, how do you find a GOOD real estate agent? You can start with newspaper.

Pick up the Saturday or Sunday paper – whichever day they have all the homes for sale in your area. You can also collect a few real estate guides to look through. Browse the listings to find properties similar to yours. If you are selling a cabin, you want to look for cabins for sale. If you are selling a lakefront mansion, look for those.

When you find similar properties, note the names and numbers of the agents that are selling them. The idea here is to find a real estate agent that has experience with your type of property. An agent that has all the million pound homes may not be the best to sell your mobile home, for example. You want agents that have sold or are selling several properties like yours.

What To Ask A Real Estate Agent

1. When you call the agents – and it’s best to call several – you want to verify that they do have experience selling properties like yours. Ask for examples.

2. Ask what they do to market a property. Any agent can place an ad and put your home in the multiple listings. Do they have existing leads – people looking for properties like yours? Do they let other agents know about your property?

3. Do they show their listings very often? Many agents just list real estate for sale and let others sell it for them. It’s more profitable for them, but not for you. If they are a good salesperson, you want them to be going through the house with potential buyers.

4. Do they do their own closings? Again, it may be better for them to delegate this part of the process, but it isn’t better for you. You want the same person to be there through the whole process. You want one person to call. Things go wrong all the time in real estate, so don’t complicate it further by having more people involved.

Most real estate agents will probably argue these points. That’s okay, but be aware that there are other things they won’t tell you too. For example, did you know that open houses are primarily a prospecting tool for real estate agents? In fact, new agents (not the listing agent) are often given the job of hosting your open house, so they can find buyers to work with. It isn’t expected that they will sell your house in the process.

Also understand that when you see ads for homes for sale, and they don’t have prices, it is a prospecting technique. When that buyer looking for a 100,000 home calls on your 300,000 home, the agent isn’t going to make him able to afford your home. The whole point was to get him to call so he could sell him ANY home. Meanwhile, other potential buyers for your home skipped over the ad – there are enough homes WITH prices to look at (insist that ads for your property have the price listed).

Trust your intuition when choosing an agent. If you don’t feel comfortable with an agent, it’s possible potential buyers won’t either. And ask the right questions. You don’t just want to find a real estate agent you like. You want to find the right agent for your property.

How to Convert Your Real Estate Notes into Quick Cash

If youre a real estate investor needing quick cash, selling your notes could offer a fast, easy solution.

It can happen to anyone. You find yourself in a situation where you need a chunk of cashinstantly. Maybe you have to handle an emergency or simply want to free up funds to invest elsewhere. Whatever the case, selling mortgage notes can put money at your disposal within a matter of weeks.

Selling mortgage notes allows you to convert small monthly payments into an almost immediate lump-sum of cash. You wont have to wait to recoup the bulk of your investment. Plus, you can avoid the risk associated with owner financing. And you can spend the money however you want; its yours and there are no strings attached.

Mortgage note buyers purchase a wide variety of privately-held mortgage notes, including promissory notes, land sale contracts, deeds of trust, contract for deeds and other debt instruments secured by virtually every type of property. They can work with you if youre receiving payments on residential, commercial and other types of property.

Some examples of the type of notes you can sell, include:

Residential Notes For houses, townhouses, condominiums, apartment buildings, and mobile homes

Commercial Notes For office, retail and industrial

Vacant Land Notes For developed land, undeveloped land and land not designated as a specific-use property (such as farm land or waste storage)

How It Works

Selling mortgage notes simply allows you to receive cash now for your future payments. You may be eligible to take advantage if youve sold your home or an investment property via owner carry-back financing or seller financing and are now receiving payments on that note. You could be cashed out in two to three weeks, receiving the funds by check or electronically.

Most note buyers prefer to buy real estate secured notes that are in the first lien position or wrap around the first lien position. If you have a second lienwhere theres a bank or another investor with a more senior lien against the propertyyou may be able to sell the note. However, the price that you get won’t be nearly as highunless the buyer has at least 30 percent of his own money as a down payment or in built-up equity.

Heres how the process of selling notes works: You need to contact several mortgage note buyers and request a quote. They will probably ask you to submit copies of the deed of trust or mortgage, the note, title policy, and closingsettlement statement. If there is no recent appraisal or title policy available, they may be ordered at the note buyers expense.

Each of your notes will be evaluated on a case-by case-basis, with a number of aspects considered. These factors include the purchaser’s equity, payment history, seasoning of the note, credit rating of the buyer, term of the note and the remaining balance due on the note.

A Variety of Ways to Sell Notes

If youre like most note sellers, you may automatically think of selling the entire note. That could be the best route if the note represents a high value and this is the best fit for your financial situation.

However, you also have the option of selling only part of the note. This could be ideal if you like the interest rate youre earning on the note, but just want to receive part of the cash now. Over the long run, a partial payment may be able to provide you with a much higher rate of return.

For example, lets say you sold a house for 120,000, the buyer gave you 20,000 as a down payment, and you have a 100,000 note at 7 percent for the next 15 years. You enjoy getting the income each month, but need 30,000 for another investment or to pay off debt. You could opt to receive that 30,000 in exchange for buying the next “x” number of payments, after which the note would go back to you for the balance of the term.
Or as another option, you could take a lump sum of money now, plus receive part of the payment each month thereafter. If youre not sure which option would be better, dont worry. A note buyer can work with you to determine the best solution for your needs.

Tips for Selling Your Notes

Most mortgage note buyers focus on making the process relatively simple, easy and fair. They offer competitive pricing, complete confidentiality and hassle-free closings. However, the note purchasing business isnt highly regulated, so be sure to locate and work with a reputable company. Here are some things you should keep in mind about purchasing notes:

Up-front fees: There should be no up-front fees. A good note buyer isn’t going to charge you just to provide quotes or check the buyer’s credit.

Closing and other costs: There should be no points, closing costs, or other garbage fees at any point in the process. Any fees are already included in the pay price to you.

Appraisals: Note buyers normally require you to pay for the appraisal or the title policy ONLY if the property appraises for less than the sales price or there are problems with the title that prevent the purchase. However, these payments should cover just the buyer’s actual costs.

Credit checks: Be sure that the note buyer checks the credit of your property buyer up front. Unscrupulous buyers have been known to quote one price and then lowering it toward the end of the process. They often use the excuse that the “property buyer’s credit was low”. This is a twist on the old “bait and switch” scam, and its completely unethical.

Written Agreement: Ensure that the seller gives you a written purchase agreement covering the purchase price, contingencies, etc. Also, dont hesitate to ask questions about anything that is not clear. Any items that are not spelled out in black and white are part of the agreement. Its that simple.

Selling real estate notes is easy, and it can be a great way to generate a lump sum of cash for other uses.

A real estate agent will guide you to – and through – the most important decision of your life. How do you know, for sure, that he will act in your best interests?

How do you know if he will really work for you? Is he too busy for you? What of his personal integrity? How much effort will he expend for you?

You will want to feel very comfortable with the real estate agent that you choose, comfortable enough to be able to say ‘no’ to the bargain of the month and ‘no’ to the almost perfect house.

He must not be intimidating to you, yet a business-like attitude and assertiveness are qualities you will want in a professional acting for you.

Often when you are choosing a business professional, the outcome is not so critical, but who wants to lose their dream property? Choosing a real estate agent falls into the same bracket as choosing a medical doctor or a lawyer.

The interview and short listing process is really all about finding one that you feel comfortable with. Real estate agents usually have a ‘presentation’. This is usually a very business-like procedure and if they are having an off day, the presentation may click in automatically.

However, you will need to get past the ‘rehearsed’ person and get to know the real one. Most real estate agents will have integrity, they have their reputations to think about, but you need to feel that you also have one that understands you and your wants.

Some real estate agents have amazing sales records, so ask about sales history. Ask if he would mind giving you some recent sales to choose references from. Gather up at least half a dozen and then choose your own references to phone. Before you phone, ask the real estate agent a few questions.

For instance: How long was each house on the market? How many were reduced and why? How many times and by how much?

Some other questions could be: Will there be a marketing plan drawn up for the sale of your house? Will it be carried out? What guarantees do you have? To see if the agent is keen and enthusiastic, ask him if he has taken any extra real estate courses.

See if you find his voice or tone very monotone; if so, do you find it relaxing, or would you prefer a lively voice generating a more energetic feeling?

Finally you must try and gauge the quality of his negotiating skills. Ask about commissions; in a house sale it will be necessary for you both to be able to discuss money amicably.

Observe the way the real estate agent explains things when you try and negotiate a lower rate. If he can convince you that his fee is fair and that he will have to work hard to earn it, then he can convince others to listen to his viewpoint when he is working for you!

All this discussion will give you enough time and a good basis on which to judge the personality of the real estate agent. Then the bottom line is that you have to pick someone that you feel you can trust.

In commercial real estate, the quality of contacts and relationships you make is essential to your success. A good portion of this business relies on how you interact with brokers, buyer, sellers, engineers and city municipalities. In order to build a solid contact list that is sure to pull you through any situation, there are some key actions you must make with every person you come in contact with.

Many people simply meet a person, most likely forget his or her name, and continue with their day, with no reflection about that person, what they do, and how that new contact may contribute to their success. As a commercial real estate insider, you must start looking at every person as a possible opportunity, within and beyond your work hours.

During work hours, when you are calling and speaking to brokers, sellers, potential buyers, the city, investors, lenders and all the other various professionals in this business, never let a stone go unturned. Beyond just your normal business banter, take a minute to ask what the other person does, what they are interested in, and explain yourself to them as well. This interest must go beyond the obvious, such as, I am the owner of the property. or I am a broker in Georgia.

Dig a little deeper, and you will be sure to find a wealth of information from many of the people with whom you speak. Perhaps you will discover new projects that need a joint venture, a commercial development hot spot, a property that needs to be bought right away due to an emergency, a person who specializes in a specific type of property that you want to be involved with and so on.

Every person has the potential to further your commercial real estate endeavors. So even when you are not at work, talk to people! Now, be courteous, of course, and don’t ream a person with a list of your qualifying questions and expect them to race to your side and help you out. There is always give and take in any valuable relationship.

Build rapport and get to know the people. A simple, So what do you do?, What business are you in?, or What are you interested in? are great conversation starters that will help get the ball rolling.

I have met numerous private investors and loan officers to whom I give more referrals than they know what to do with. In turn, I can get money, not only for my projects, but for those who may be purchasing my developments as well! It is amazing what a little kindness, genuine interest and casual conversation can unveil.

Although talking is a great way to find information, it is what you do with your information that really counts. Every person I meet, or have a potential to do business with, I ask for their name, number and email, so that I might contact them sometime about their work. If it is someone you feel has an asset or other contacts that could help you, explain to them that you think it would be mutually beneficial to do business with each other. Always ask permission to contact them if you should have a project they might be interested in, or if they may have more information regarding their profession.

This may seem forward of you in some cases, but you can always explain to them that you are always looking for people to do business with, and that their help would be very much appreciated. It is astonishing what people are willing to do if you ask for their help.

Give them a business card and your contact information as well. Give them permission to contact you whenever they would like, and tell them you look forward to speaking with them on another occasion.

After you have had a meeting with a new contact, store the information in a safe, organized place. Write a note about what you discussed, what you liked about the person, and how they might help you. Be as detailed and specific as possible! The last thing you want to do is sit down to a list of one hundred contact names and numbers, and have no idea what they do, or how each may benefit from building a relationship!

I know many people use digital resources, rolodexes, and other such organizing devices. This is great. However, I have my own tool that has proven to work really well. I use a basic, spiral notebook, like the kind you would use in high school. Because I may not always have access to my computer, or be at my desk with a rolodex, I keep with me this basic notebook wherever I go!

It is here that I write the name, date, place and contact information, including notes on what we discussed with every person in which I could potentially do business. The pages never fall out or get lost. I do not have to wait to get to a computer to type this information that is fresh in my mind, and it can conveniently travel in my car, briefcase and just about everywhere else! It is not fancy and complicated, but easy and functional. I call it My Big Black Book. You should try this method, and see how it works for you.

Realistically, not every person you meet is going to be that super contact. However, if you have a very informative and helpful conversation with someone, make it a point to send them a letter or email thanking them for their time, how you will use, or have used their advice, and the results you’ve experienced. Be sure to document what it was that you discussed so they know the exact conversation to which you are referring.

By being grateful, acknowledging other people’s work, and staying in contact with new people you will quickly build a contact list to rival those of seasoned commercial real estate professionals.

You will have go to contacts that can assist you on specific projects, put a good word in for you with the local city government, recommend you for projects, and notify you of properties that you may be interested in. Your opportunities will come more frequently and with better possibilities as your contact list builds. In a nutshell, follow these simple, yet essential rules:

Build relationships.
Be grateful.
Stay in contact.
Document all conversations.

These are the keys to building a successful, money-making contact list that will be with you for years to come.

Ages ago, people lived in elaborate and magnificent castles that were often protected by moats. A moat is a wide, deep ditch dug around a castle to prevent enemies from overtaking the castle. By surrounding the castle with water, moats served as an effective deterrent and provided the castle with the security it needed to prosper.

Today, many of us live in our own plain and simple financial castles that are much more vulnerable than the castles of yesterday. Not only do our financial castles not have any sort of moat for financial security, many real estate investors do not know how to build a moat to accumulate wealth and retain it.

Why do most people today not have a financial moat? Why no financial security? Why are most people so financially vulnerable? We live in a culture that has brainwashed us into thinking that we should be paid per hour of work.

If you are like most people, you have to work for a living. If you don’t work, you don’t get paid. You see, most people have linear income. So while linear income may be the way most people earn their paychecks, it is also the reason many of us cannot afford to retire. This type of income continues only as long as you continue to work.

1. If you are an attorney, you get paid whenever you represent a client. If you don’t provide legal services, you don’t get paid.
2. If you are a teacher, you get paid when you teach our children. If you decide not to teach, you dont get paid.
3. If you wholesale or retail houses, you get paid when you flip a house to another investor or sell it to an owner occupant. If you quit wholesaling or retailing houses, you don’t get paid.

The real test is that if you are let go by your employer as I was in June 2002, your income definitely stops. After almost 30 years of working for security for different companies, I was left out in the cold in the middle of summer. I discovered I was not secure; I only had the illusion of security. Working for a company is fine, but you must understand it will never give you security.

That’s how linear income works. You receive income when you work. Usually you earn just enough income to pay your bills. When your income stops, youre on the brink of disaster. In fact, if youre like most folks, youre no more than two or three paydays away from a serious financial catastrophe.

OK, so how do we start to build the moat that will provide us with financial security?

You start digging a ditch around your financial castle with residual income. A complete change happens when you start earning residual income. Residual income means you continue to earn money for a long time. When you do something right just one time, you get paid over and over again for what you did.
a. If you write a hit song, you get a small royalty every time the song plays on the radio.
b. If you write a book that becomes a best seller, you receive a regular royalty check from your book sales.
c. If youre already a multi-millionaire and had a few million to invest in quality stocks and bonds, you now get a regular dividend check.

Residual income sounds nice, doesn’t it? Unfortunately, most people have trouble developing a residual income.

Why?

We can’t sing or write music. We don’t know the first thing about writing a book, much less how to go about having it published. And I really cant remember the last time someone came up to me and told me they had a few million pounds sitting in their checking account waiting to be invested.

However, there is hope.

There is another way to develop residual income. Theres a way to get monthly checks so that we can do the things we want in life. So that we can achieve our dreams. And best of all, almost anyone can develop this residual income that will give you the financial moat you need to accumulate and retain your wealth.

It was only after my wife asked me how many properties I had kept for ourselves at the end of 2004 that I realized that my buy and sell plan was making us very good money, but it would not make us wealthy. I realized I had to keep buying and selling properties to keep making the money. So I launched a strategy that complemented our buy and sell strategy. The approach is to buy properties at substantial discounts, rehab the properties, and then rent them out. And the best part is that the tenants pay for my properties. Once the properties are paid for, I will continue to have rental income for the rest of my life.

But what about tenants and toilets, you ask. Well, everything has a price and youll have problems with your tenants. But you have options. You can (a) develop a system to minimize your problems with tenants, (b) retain a realty management company to deal with the tenants or, (c) offer seller financing to your tenants so they become owners and they no longer call you.

Personally, I like the buy and hold strategy for two principal reasons. First, I continue to accumulate assets or rental properties. Second, I will continue to receive residual income for the rest of my life whether I continue to rent the properties or elect to use a seller financing approach so I deal with a buyerowner and not a tenant.

The more properties you accumulate, the more residual income you receive. And the more residual income you get, the wider and deeper the financial moat you will build for yourself. The wider and deeper your financial moat, the more difficult it will be for circumstances to penetrate your financial castle. You will have the security you need to truly prosper.

How To Become A Commercial Real Estate Expert In Your Own Backyard

Many people may not realize you can literally become a commercial real estate insider just by working in your own local community. There is a wealth of opportunity for those who are motivated and wanting to make a difference, not only in their own lives, but in the lives of people in the community as well.

You do not have to travel across the United States or around the world to find money making properties that will financially take care of you for the rest of your life. It simply takes two things in order to become a real estate insider: knowledge of your community’s real estate opportunities and a steady increase in your own education.

What makes a real estate insider?

A real estate insider knows the ins and outs of the real estate market in his or her own area of interest. This interest could be in office complexes, strip malls, large apartment complexes, medical buildings, and various other income producing properties The commercial real estate insider recognizes trends, the value of property, changes in values before they happen, all zoning laws and regulations, and infrastructural changes that can drastically affect the values of land on or around the new development.

The commercial real estate insider also knows the city decision makers. He or she knows with whom to speak in order to get information, advice, notice regarding changes in the zoning laws or regulations, and to stay ahead of the real estate market.

How do you become a commercial real estate insider?

To start, you should understand that a large part of commercial real estate is dealing with the officials and decision makers of the city or county because they are the ones who decide zoning and use for every piece of property within the city’s or county’s boundaries. They plan for future growth, and attempt to create a balance among both residential and commercial properties so that the community does not grow too quickly or become unbalanced.

Due to the fact that the city officials are so important to your ability to develop, renovate, and otherwise do what you want to a property, it is crucial that you get to know these people and create a rapport. You also need to know what is occurring in your community regarding real estate at all times. Zoning often changes; there may be new regulations or codes regarding the zoning, or the intended use could be limited to only a few uses that will hinder your intended project. All these things can greatly affect your dealings with a specific property, and how you pick and choose your opportunities.

A good way to meet these important officials, as well as learn about the real estate market in your community, is to attend zoning and planning meetings at your local Chamber of Commerce or courthouse. It is there that you can meet face to face the people who will influence your future as a commercial real estate insider. Introduce yourself as a real estate investor, and give them your card. Ask intelligent questions regarding real estate in your community.

Eventually, after building a rapport with these influential people, ask if you could meet with them to discuss a certain project, or something in which you could use more information or advice. You should always come to these meetings prepared with your questions typed so you stay on task and topic. Show that you appreciate their time, knowledge and expertise.

It is a great idea to ask for a few more introductions to people they know who may be able to help you. Always send a thank-you note that briefly reviews your discussion, what advice you used and how it will or has helped you. When you show appreciation for their advice, they are more likely to help you in the future, or share information of which others may not be privy. You will begin to make excellent contacts and learn key elements regarding your specific market. This is how you become a commercial real estate insider.

Beyond meeting the people who make the big decisions regarding the use of property in your community, you must know the laws and regulations regarding the various types of zoning. Zoning labels may differ from city to city, as do building criteria, the size of lots, building and fire codes, and limitations. You must study these rules and regulations so you know what you can and cannot do to a property. As these rules and regulations often change, it is important that you listen and take solid notes at all zoning and planning meetings, and other important real estate related meetings you might attend.

Your goal is to know your market inside and out so you can make decisions based on the changes in the market before anyone else even knows they are coming. You do this by recognizing certain points, such as an increase in vacancies of commercial property, or an increase in the median home price, or how the new mall planned to be developed in one year is going to greatly affect the land values around it.

In addition to understanding your own market, you should be reading the newspaper, trade journals, commercial real estate books, attending seminars, and speaking with others in your area who are involved with real estate so that you are constantly increasing your knowledge. It is with this constant training that you will learn strategy, finance, information about private lending, how to find deals, how to present offers, what markets are hot, new opportunities in the area others are not aware of, and many other tools and strategies that will keep you ahead of the rest.

To be a real estate insider, you must always be on your game. Make those contacts. Ask pertinent questions. Learn everything you can about your business, and act on this information. You will find yourself finding opportunities that you did not know existed, and you will become a commercial real estate insider sooner than you would think!

How can one be a successful investor in Tampa real estate? If you want to try out investing in Tampa real estate, you have to be prepared and armed before you enter such venture.

Yes, it is true that there are lots of investors out there who are successful and have earn so much in real estate investing. If you desire to be one of them, thats okay, but it is not as simple as buying a property in Tampa real estate.

If you want to be successful, you have to take it slowly but surely. You have to prepare yourself but knowing how real estate investing works and know the methods and strategies that can aid you to success.

Actually, there are lots of ways to learn about real estate investing. You can use the internet in finding knowledge and information about real estate investing. There are plenty of websites out there that can provide you with strategies, tips and guidelines that can help you in making real estate investing. Just make sure to take some of your time in educating yourself. You can also enroll yourself to university that offers about real estate investing. Reading books about real estate investing is another option of learning and preparing yourself before you enter Tampa real estate investing.

Knowing and gaining information about Tampa real estate market is very helpful on your part. You have to take time in knowing the market.

Tampa real estate investing comes with a lot of work; so definitely, you cant do the work alone. You need to have the persons that can aid you with your quests of having the best transactions and to obtain success.

There are plenty of works to be done like dealing with the finances, looking for the right properties in Tampa real estate, selling your properties, maintaining your properties, dealing with the paperwork such as contacts, and dealing with the profitability. Now, you see how many the works should be done, so you need to have the right team that can help you out in having the best transactions and to gain success with your Tampa real estate investing.

A mortgage broker can aid you in having the best loans you need. A real estate agent can deal with looking for properties and selling them again. A lawyer will deal with paperwork and the accountant will deal with the profitability. So you need to hire the persons that can deal with the job but do not hire just that, you have to have the assurance that they are the right persons. The right persons have the proper expertise, experiences, skills, abilities and very much familiar with Tampa real estate and have the knowledge about real estate strategies.

In order to gain success in Tampa real estate investing, you have to be prepared and armed and do the right things that should be done. Take your time and effort and never rush things out.

There are many people who want to make a career or want to be an amateur in real estate investing but they remain clueless of what to do or what steps am I suppose to follow to be one. It is not that difficult to be one you can start with whatever information you have and right from the place you are in today.

Simply look for people who really want their property to be sold and try to solve their problem. If any person is about to loose their property then the fastest solution to it would be take over their payments with the help of subject-to contract. You can also provide them with some walking money that will help them in to move to another place and that they will be having some cash with them to rent another home.
Then you can clean up the property, you can use leaseoption under this you can lease the property to future buyer on a rent-to-own basis. With the help of this process you are able to collect a non-refundable deposit. Now even if you get four to five percent of future purchase price it certainly is a good price to go for. You can continue to this till the time you feel to follow it or till the time you find it profitable.

And not to forget you must have the renter or the buyer sign a contract. Now in this field the amount you get depends completely on you as it is the difference between what you are paying to the original owner and the amount you are collecting from the new renter or buyer. This is a very nice way for collecting extra cash every month. And the profit also depends on the property and the place property is located at. And also there is no limit to such deals it depends on you that how many deals are you able to take up at one time if you can put some extra effort that will help you in earning more profit.

Try and give your ad in every possible local paper. Through your ad look for the people who are interested in selling their property in a couple of months or years and sign a long term lease. If you get a positive response to your ad then try and negotiate with a practical purchase price, and then sing a contract and start you work for looking a renterbuyer. In all this procedure you must also contact a lawyer who can help you making all these contracts and can also help you in making fair deals.

So now you have almost all the important points which are required to start a career in this profession. So move ahead and go for what you have been planning for.

The real estate industry is a competitive one, and as a player in that market, youve got to play every edge that you can find. Youve got your listings on MLS, submitted your ads to the newspaper classifieds, bought space in local realty For Sale magazines and even set up your own website. Now you need to maximize your exposure by getting the word out about the service that you offer. Listing your real estate related web site with a real estate directory is an excellent way to help drive targeted traffic to your website.

Whats targeted traffic?
Targeted traffic is what you want to make it worth while having a web site. The prettiest web site in the world is only useful if it provides leads for your sales. In order to do that, you need to attract traffic and not just any traffic. You want web site visitors that are looking for what youre selling whether its homes, inspections or contractor services.