Telko

do realestate have anything to doo with make…4 example..the person thats selling the house do they have to deal with math?

no, you don’t really need to know that much math. you will have to MEMORIZE things such as how many feet are in a mile, but only for the real estate exam.

marketing real estate SHOULD involve you really and truly wanting to help PEOPLE. some of that will require you to learn a few little math tricks, but you just buy a calculator and have the mortgage broker that you like, who is reputable and caring also, give you a little card that will give you applicable rates, so it’s easy to figure out the principal and interest charges on a mortgage per month. it is so easy!

as for comparables: the computer does all the work. you have to get to know the BUSINESS of selling real estate, which has everything to do with people skills and high ethics. your business will be easy if you attain a good reputation immediately. your clients will send you clients (ask them to), and so on. then you do not always have to search for new business.

the real estate field is only this: service, service, service for people, people, people, who want location, location, location. that is all it is. the better you understand that, the better you will be in the business. if you need to understand math for some client’s question, you tell him you don’t know the answer right then and there, but will be happy to call him immediately after you talk to your manager. the broker manager where you work will show you how to calculate whatever figure he wants. then you call him, that same day, with what you promised you’d get for him. that is called SERVICE.

ethics come into play because the most important thing for you to do as an agent is to act as an AGENT (look that word up in a few dictionaries). that means that you always put the interests of your client ahead of your own. you protect your client, who is sometimes a seller and sometimes a buyer, and occasionally (this one can be tough) a dual agent for both parties. you get help from your managing broker in such a situation and handle it carefully. remember: it is the client that counts. you will count soon enough, when you close the deal, but before then, all that counts is your service to your client.

i wish you all the luck i can! this is a very stressful business. you never know from one year to the next how you will continue to live. some years are lean, some are fatty. save money from those that are fatty!

If I purchase realestate, (residential duplex) to rent out for investment purposes, can I write off the closing costs?

Absolutely! In fact, your escrow company will send you a statement at the end of the year to give to your accountant.

Need 2 bedroom home to rent or buy.What about daily living expenses like or less than us
how about apartment all need to be near the ocean

Prices can vary a lot, you need to establish what your budget is for renting or buying, they vary from $300- $2000 a month to rent , to buy you can say between US $50,000- 2 million.

Lic.Gregory Kearney Lawson.

I heard about a good auction at 777 Punchbowl. Do you know a useful website for current information about that? How did you get in?

For Sheriff’s Sales, foreclosures, tax sales and judicial sales as well as any other sales a county or state may have, you’re going to discover every county in every state/province/territory operates and does things a little differently than the one next to it – even when its in the same state or province.

It requires LOTS of time and diligence.

This is what I learned:

The best suggestions I can offer:

For the work which NEEDS to be done BEFORE the sale, there really isn’t any website.

1] Go to your county court house to the Sheriff’s Office. You might even be able to get the info you need on-line BUT there may be a charge for the on-line access.

2A] It doesn’t make any difference whether you live in a large city or a village/borough, make the investment of time to go to the County Court House or City Hall. Visit the Recorder of Deeds Office/County Clerk’s Office or whatever the office is referred. The names are different, but the Office’s function is the same: to record ALL REAL property documents.

The ladies and gentlemen in the City Hall or Court House are there to help the folks who come there to do business and take care of various matters about that city or county.

3A] Ask for the rules for Sheriff’s sales and foreclosures. AND ask for the information you need to participate and bid on property. Ask for a list or if they are hanging on the wall, grab one or two.

3B] JUST for practice you’ll need a specific, actual address – even if its your own, a friend or relative living in that same county or city. The property owner’s name would be very helpful. Ask an employee in that office how to research a property. Write down and/or remember each of the steps you are shown.

3C] After being shown what to do and how to do it, research the one or two properties you have at the Recorder of Deeds Office/County Clerk’s Office.

If you get stuck, ask for help.

4] If you are able to do the research, attend AT LEAST 3 of those Sheriff’s Sales. You aren’t going to bid on any property. You aren’t going to buy any property. You are there STRICTLY as an observer. You want to see how the process works.

5] At the sheriff’s sales and foreclosures, you’ll probably see the same faces at sale after sale.

Offer to take one of those folks to lunch or dinner and discuss your intentions.

Thanks for asking your Q! I enjoyed answering it!

VTY,
Ron Berue
Yes, that is my real last name!

I don’t have any money for down payments, my income is low, (about 3,500 per month), my credit score is low, and I’m in the process of selling my home in a short sale. I want to create this cash flow as a means of supplement income and then eventually my main source of income. Is this doable?

You may have to wait a bit, but don’t worry, housing prices will probably drop some more.
I suggest buying a rental unit and living in it. Your tenants can pay your mortgage-or at least most of it. Research the tenant-landlord laws in your area as well as financing options and prices of multi-unit homes.

I recently went though a forcloser last janurary due to my husbans loss of employment .I have been employed for 4and half years at the same job at full time hours .The banks wont consider a loan for thee years .I still would like to purchase a home on my own home.What help is there trough a private realestate investore?

Nobody but a close friend or a relative is going to give you money for a mortgage or a down payment.

Build up your savings and credit score and in about 3 years you and your husband should again be able to purchase a home through a real and legitimate mortgage lender. At this time you just have to be patient and work hard to pay all of your bills on time.

Is there a way to discover which realestate company’s/agents get these? Details/websites appreciated!

One way you can try to find out who lists foreclosures is by picking up a homes for sale guide and reading the ads. The ads that say "being sold as-is" or "proof of funds required" are usually foreclosures. See which Realtors have more listings like that. Another, probably faster, thing you can do is call some real estate offices and ask if they have any agents who specialize in foreclosures or who usually list foreclosures. I used to be a Realtor and there were 2 or 3 people in my office that usually listed foreclosures. If you call a real estate company and ask for someone who lists foreclosures, the secretary will know who to put you in touch with. Also, as long as the foreclosures are put in the multi-list system then any Realtor can tell you about them and show them.

I have a buyer for a piece of property. I don’t have a contract written up yet with a lawyer. What should I have buyer sign and should I get a small down payment until papers a re ready? How would I write this receipt up?

it is called earnest money. i would go to legalzoom.com and look for a land contract. it is the document you are looking for and they are cheaper on that site than going through a lawyer.

your borrower, if they are getting a loan, will be helped by the loan officer as well. title company will still be involved to protect you both.

good luck

I want free information about realestate investment that doesnt require a fee and doesnt want me to purchase any iformation regarding this informstion.

No Money Down usually doesn’t mean there is no downpayment. It just means the money down it isn’t your money. Which if it isn’t your money, it’s usually money you are borrowing, or money coming from a partner who wants a share of the ownership in some way, or a share in the future profits.

The idea of paying money you don’t have for real estate courses, is the fundamental premise to No Money Down investing in real estate. If you can find money you don’t have to pay for the courses, maybe you can find the money you don’t have to pay for the real estate you want to buy.

Yes, after finishing the courses you can call yourself a real estate investor, but you will find you are just one of many who call themselves that term. There is risk involved in any real estate investment. Buying the piece of real estate is just one of the steps to making money. You can be an investor who loses money as easily as you can be an investor who makes money.

Many of the No Money Down courses you see on late night TV want you to find a property and real estate deal that fits the guidelines the course sets out. When you find such a property, you call someone else to help you with the next steps and the future profits are split (usually quite unequally) among all the parties involved.

"No Money Down" is not a myth. It is a concept used by developers, and real estate purchasers of every size, from very small scale investors, to mega-million dollar and billion dollar investors. It is a premise used in commercial real estate all the time. The deal is structured in such a way as to make a profit for the purchaser. Any money used as a downpayment is returned with interest, making the deal essentially, a No Money Down one.

Starting a LLC with a few family members to invest in some realestate what should the bylaws for the Corporation Be ?

In my opinion, this is not the time to invest in real estate. It’s the buyer’s market sure, which only means you must have the capacity to sit on a property (sometimes for several months) without revenue.

You might have a better chance with corporate real estate (leasing, apartments, condos, etc) though. It all depends on your location and what the economic climate is over there.