Video viewing time: 9:59

When I first stepped into the arena of real estate investing, there was a lot of stuff that I didn’t understand - no money down investing for one.

But even more so, it was the concept behind the terminology that really was fuzzy for me. I heard countless investors refer to the term no money down investing.

Folks would throw that term around like it was confetti.

It really was a concept that I struggled to wrap my mind around. And what was worse, structuring a no money down deal was beyond my comprehension.

For those reasons, I decided to post this video by Sam Bell. He does a great job of explaining how you can get into a deal without using any of your own money.

Enjoy!

Post your comments about this video below.

Reading time: Approx. 2 mins.

If you’re just starting out in the real estate investing arena, you may have noticed that there seems to be two camps that real estate investors belong to - the wholesaler, and the buy and hold investor.

Depending on what camp an investor falls into, the answer may be vastly different as to what is the best way to invest in real estate.

What’s Your Plan?

What it really boils down to is this - what do you hope to achieve with your real estate investing?

Once you are able to answer that question for yourself, your exit strategy should be very clear.

For instance, if you’re objective is to rake in cash fairly quickly, then wholesaling is the path that will get you there the quickest. However, if you’re looking to create wealth, the buy and hold strategy would be the smart move.

Some Factors to Consider

1. Your local market

2. How long are houses staying on the market

3. Number of foreclosures in the area you are looking to buy.

4. What tax bracket do you fall into?

5. Do you have a sustainable, local economy?

Taking a hard look at what this data is telling you will make you a more educated investor.

Investing in Today’s Market

Given the current climate of our economy, and if security is what’s most important to you, the buy and hold strategy is your ace in the hole. As you probably know, the number of foreclosures are through the roof all over the country. As a result, homeowners are being forced out of their homes at an alarming rate. To me, this screams buy and hold.

Bottom line is, defaulted homeowner’s without a place to live are pretty much forced to look for a housing alternative, and that housing alternative, in most cases, is renting.

The Best of Both World’s

There is no hard and fast rule that says you have to do one or the other - you really can have your cake and eat it too. Think of it this way, implement the buy and hold strategy to build your portfolio and to create long term wealth, and wholesaling deals to make quick profits and needed capital to fund your deals.

Hey, it doesn’t get any better than that!

What are your opinions about this? Please share your comments below.

There’s no question that REO properties are a hot commodity in the real estate investing world. The opportunity to snag, and scoup up these properties, for pennies on the dollar, is huge.

But, before you go off running like a bull through a china shop, there are few things you need to know when delving into this arena. That being said, Patrick Riddle shares 7 must-know tips when buying these types of properties, and how to profit from them.

Be sure to come back and let me know your thoughts in the form of a comment below.

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Six Figure Syndication Product Reviews

If you’ve been wondering what all the buzz has been about concerning Brad Wozny’s Six Figure Syndication, no worries, I scoured the internet to find both video, and text reviews. Each gives you a bird’s eye view of exactly what it is, and what to expect if, and when, you purchase it.

Oh, and by the way, each person has personally purchased the course themselves.

What I can tell you from the little bit I DO know, expect to see an upgrade after your initial purchase of the Six Figure Syndication.

I hope the following reviews help you make an informed decision.

Brad Wozny Six Figure Syndication Course Video Review - Real …

Real Estate Internet Marketing. Real Estate Marketing Blog with a IM Twist + FREE 56 page Real Estate Black Book – THE Internet Resource Manual for Real Estate Investors and Agents! … I always wish that someone would review the product before I commit to buying it. That way, I won’t waste my time that company’s time. So here I am, doing a video review for you. The following video is for Brad Wozny’s 8 Figure Empire which I believe will be offered to you as an upgrade. …

Brad Wozny Reviews – Six Figure Syndication… It’s Not Worth $9.95 …

Alrighty… it’s that time again. What time you ask?? Well… there are quite a few products in the real estate investing education market being launched.

Brad woznys six (6) figure syndication real estate investing …

Justin Lee of gets his copy of the free CD, free DVD and blueprints issued by Brad Wozny and his Six Figure Syndication real estate investing product. When you visit you can get the free CD, the free DVD and the blueprints by simply …

Honest review: 6 figure syndication secrets by brad wozny …

6 Figure Syndication Secrets is for real estate investors who are interested in how adding a syndication framework to your existing real estate investing business model can amplify your profits notably. Brad’s material explain… …

Be sure to come back and let me know your thoughts in the form of a comment below.

Reading time: 1-2 mins.

I recently read a blog post titled How to FAIL at Social Networking that really drilled down in simple terms why folks don’t achieve the results they are seeking:

“social networking requires you to be active and visible to others.”

Let’s face it, the quickest way to fail at ANYTHING, is to do absolutely nothing, and social networking is no different. The whole purpose is, well, to be social.

Misconceptions

All too often people have this “just build it, and they will come” attitude about sites like Twitter, Facebook, LinkedIn and other popular social networking sites.

You know, create a profile, write a few blurbs about who they are and what they do, and abracadabra, just the sheer presence that they are there, people will reach out to them. I’m sorry to disappoint you, but it doesn’t exactly work that way.

Relationships Matter

Like a fine wine, aged to perfection, it takes time to establish and build relationships. As we all know, relationships are a two-way street - what you put in, is what you get out.

Make no mistake, people aren’t going to know who you are, or that you even exist, unless you join the conversation in whatever form that may be.

More importantly, if you’re looking to partner on deals, or make other business contacts, it’s critical that you step from behind the curtain and get noticed. You’ve heard this more times than you can count: “People only do business with people they know, like and trust.”

Become a Social Butterfly

If you remember what it was like in high school, it never was the wall flower that people paid any attention to, it was the social butterfly people were attracted to. Get up off the wall and take the time to do little activities each and every day.

If you’re in a forum, introduce yourself, after that, participate in forum discussions. If you’re on Facebook, respond to people’s comments and/or get involved in targeted real estate investing groups. If you’re on Twitter, follow people in your niche and reply to their posts.

These conversations can morph into just about anything, possibly a partnership of some kind. It is an awesome thing when that happens and is so well worth it in the long run. A virtual goldmine is at your fingertips!

One Last, and Vital Point

Get involved for pete’s sake!

Action plan:

1. Join the conversation

2. Take the time to do little activities each and every day.

3. Leave a comment below

Reading time: 3-4 mins.

In my last post, I talked about key contract clauses to have when buying property. In today’s post, I’ll discuss key contract clauses to have when selling property.

1. Qualification of Buyer: This seems pretty obvious, doesn’t it? I’m sure it does, but I’m going to include this in our list anyway, and here’s why - your time!

You don’t want to waste your time with someone who isn’t qualified to go through with the deal from the git’ go.

Nothing is more frustrating than finding out that your property has been tied up by someone who doesn’t have a pot to you know what in. The proof is in the pudding as they say. Get it in writing that they have the ability to close. Have your attorney draft a properly worded clause that spells this out.

2. Right of First Refusal: Don’t want to be held hostage to just one buyer once you sign a contract? Of course you don’t. Including this clause in your contracts is, well, sweet!

Essentially, what it does is, in the event that another buyer comes to the table with a better offer, it allows you the flexibility to take an offer while keeping the property on the market to attract additional buyers.

How cool is that? Very.

Of course, the clause would specify the amount of time that the current buyer has to remove the contingency clause and purchase the property, typically, about a week.

3. Limited Inspection: As the seller, you want to limit the time that a buyer has to inspect the property and not dilly dally in doing a complete and thorough inspection.

Why?

Because you are pretty much leaving the door wide open for them to walk out that door for reasons that really don’t amount to a hill of beans. Also, you want to stipulate that the inspection be done by a licensed inspector.

I’m aware that there are other clauses that other real estate investors include in there contracts as sellers, as well as friends of mine, but the three that I’ve listed above are the ones that I am most comfortable with. I also didn’t want to get into a long, exhaustive list either.

However, if you’re looking for a trusted source in educating yourself further about what contract clauses to have as a real estate investor, whether you’re sitting on the buyers side, or the sellers side of the table, here are two great resources, in my opinion:

1. Bob Diamond’s CYA Contract Clauses

2. Bill Bronchick’s Real Estate Lawyer

As I mentioned in my previous post, ethics and integrity should be the guiding force when deciding what clauses to include in your contracts.

Be sure to have an attorney review all contracts before submitting an offer, this is not to serve as, or substitute for, any legal advice.

It has been said that a well written real estate contract is like a “work of art.” Using “a one size fits all” standard contract without having risk protections built in, is essentially like shooting yourself in the foot.

That being said, I’ve listed 5 key clauses to include in your contracts when buying property as a real estate investor:

1. And/or assigns: If you’re wholesaling, this is definitely one clause you don’t want to do business without! This clause gives you the freedom to assign your rights as the buyer and have another buyer to take over your position in the deal.

(NOTE: If you’re using a contract that doesn’t have this verbage in the contract, hand writing “and/or assigns” into your contract will supercede the typed written wording.)

2. Financing Contingency: Why use so-called “weasel clauses” when you can just be transparent? Including the following financial contingency clause in your contract clearly communicates to the seller that you’re purchase of the property depends on your funding source:

“This offer is contingent upon you (the buyer) obtaining financing from said lender.” If you’re using conventional financing, attaching a pre-qualification letter that states: “A pre-qualification letter from said lender is attached” provides additional security to the seller that you are serious and prepared to seal the deal.

3. Inspection Contingency: Not opting for this contingency clause can be a costly mistake! Think about it? Finding problems with the property AFTER you’ve purchased it is not the time for the slogan “more will be revealed.” Specificity is key.

4. Escrow Contingency: Stay in control of where the funds are held. Why? Creative real estate investing strategies aren’t necessarily popular with title companies that don’t understand our way of buying properties. As I stated earlier, specificity is important - spelling things out can save you from a lot of frustration in the process.

5. A Date Extension Contingency: I’m not suggesting that you use this clause as a stall tactic, but let’s face it - life happens.

Who can argue with this: “Said date may be extended an additional fifteen (15) days if lender requires additional documentation, paperwork or actions from the buyer and said delay is not due to the fault of the buyer.”

That just about covers anything and everything that can go wrong before a deal closes. One other thing, offering some kind of “what’s in it for me” benefit can go a long way with a seller agreeing to this sort of contingency.

As with these, and any other contract clauses, ethics and integrity should be the guiding force when deciding what clauses to include in your contracts.

One other point, be sure to have an attorney review all contracts before submitting an offer, this is not to serve as, or substitute for, any legal advice.

(I couldn’t believe it when I found this out.)

Just a while back, I was having dinner with my favorite aunt and uncle, we were discussing the new investment property that the two of them had just purchased.

(Second one within the last couple of months - complete novices too.)

By all accounts, it sounded like a really, really sweet deal.

Trouble is though, they have made themselves prime targets for every sue-happy Tom, Dick, Jane and Harry.

Why, you might ask?

Because NONE of their properties are protected by a Land Trust.

Essentially they are walking around with their financial statements taped to their foreheads, and just ASKING to be taken to the cleaners.

Truth is, if you haven’t shielded yourself, your business AND your properties, you are giving folks a free reign to strip you of everything that you have.

The ugly reality is that lawsuits can bankrupt you, even if you WIN. At best, they steal valuable time from your business. At worst, they’ll leave you deeply in debt.

This is the unfortunate DARKSIDE of investing in real estate.

Listen, I’m not saying it’ll happen to you tomorrow, or even a few years from now - and I hate to say this…

It WILL happen if you don’t take the necessary precautions NOW to insulate yourself from these potential predators.

Heck, it’ll even happen WITH a land trust in place. When folks know that you own property, it seems to bring out the beast in people. In their minds, owning property equals being rich.

So What Steps Do I Take?

It’s a fairly simple process to place your properties into a land trust. Your attorney can do it for you. Just make sure that he or she is knowledgeable and experienced with doing so.

Action plan:

1. Stop walking on the wild side and explore placing your properties into land trusts.

Are you a little fuzzy on what a double closing is, better yet, how to perform one? Well, in this video, William Bronchick details how the double closing process works.

This video highlights the ever-increasing problem, nationwide, of how lenders are not only abandoning homes, but borrowers as well, due to high foreclosure costs.