This is a video from The Best MI Homes (TBM Homes) from Ron Ristovski. He explains
1. The type of home he and his partner purchase.
2. Why it sells so quickly.
This home is in Warren, Michigan.
It took this group seven (7) days to buy and sell this home.
I've posted material from this group, already, but they provide such good material, that I would be cheating you not to show this here.
For more information, their website is www.TheBestMIHomes.com
Showing posts with label Detroit Real Estate. Show all posts
Showing posts with label Detroit Real Estate. Show all posts
Sunday, November 8, 2009
Tuesday, October 27, 2009
Title Searches: What are They?
This is geared more toward beginning investors, but here is a video that seems to do a decent job explaining what title searches are...and are not...(Yeah, this guy is in Texas, but it seems to give a good overview in less than 3 minutes.)
For more detail-oriented people, this link highlights 50 different things that a title search covers:
http://www.titlesearch.com/30pt.html
My personal favorite...Bail Bond Liens...Would you EVER have thought of THAT one?
For a few other items on this list, it offers a link that will show EXAMPLES. I think this is very cool!
For more detail-oriented people, this link highlights 50 different things that a title search covers:
http://www.titlesearch.com/30pt.html
My personal favorite...Bail Bond Liens...Would you EVER have thought of THAT one?
For a few other items on this list, it offers a link that will show EXAMPLES. I think this is very cool!
Sunday, October 25, 2009
Working Toward Your Goal: Do Something EVERY Day
My title suggests the story. If you want to achieve something badly enough, figure a plan. Make sure that plan outlines your steps clearly. Make sure to have a little progress every day, even if it is just a little tiny spurt.
It is easier to keep momentum moving than to start (or restart) it.
It keeps your mind focused on your goal. Subconsciously, you will think about it constantly.
People will know where to find you. As in most things, real estate investing is largely about networking. You can find people, but it's great when they find you. Make it easy for them by making your presence predictable.
A marathon isn't done in the first minute--not even by those amazing Kenyan runners. Just keep working toward that finish line.
It is easier to keep momentum moving than to start (or restart) it.
It keeps your mind focused on your goal. Subconsciously, you will think about it constantly.
People will know where to find you. As in most things, real estate investing is largely about networking. You can find people, but it's great when they find you. Make it easy for them by making your presence predictable.
A marathon isn't done in the first minute--not even by those amazing Kenyan runners. Just keep working toward that finish line.
Friday, October 23, 2009
Cool Website: BiggerPockets.com
I don't have much to say, but I am suggesting that beginning and advanced real estate investors check out www.BiggerPockets.com website.
A friend of mine who invests in the Flint, MI Area (a smaller city about 60-90 minutes from Detroit) suggested this site to me.
What do I like about it?
1. It has a lot of articles. It contains articles for beginners and advanced real estate people. There was even an article about REITs in there.
2. It lists properties, but this is probably nothing all that special. It's just a nice touch while you're in there.
3. My FAVORITE part is the forums section. There are several forums, and many are probably very good. However, the one that makes me return to this site is the forum that ANALYZES DEALS. This site contains conversations of people putting out a deal (often with the key numbers attached), and other people comment why it is or is not a good deal. They also mention when they need more information, often citing what info is missing.
Overall, this is a good site.
If someone reads this and knows another similar site, let me know. Please!
A friend of mine who invests in the Flint, MI Area (a smaller city about 60-90 minutes from Detroit) suggested this site to me.
What do I like about it?
1. It has a lot of articles. It contains articles for beginners and advanced real estate people. There was even an article about REITs in there.
2. It lists properties, but this is probably nothing all that special. It's just a nice touch while you're in there.
3. My FAVORITE part is the forums section. There are several forums, and many are probably very good. However, the one that makes me return to this site is the forum that ANALYZES DEALS. This site contains conversations of people putting out a deal (often with the key numbers attached), and other people comment why it is or is not a good deal. They also mention when they need more information, often citing what info is missing.
Overall, this is a good site.
If someone reads this and knows another similar site, let me know. Please!
Thursday, October 22, 2009
Tip: Form or Join Support Groups
A good idea for anyone but especially beginning real estate investors, join a support group of people who want to invest in real estate. While usually any support group is better than not having one at all, there are some guidelines I would like to suggest:
1. Attitude: Try to bring a good attitude yourself. This is most important, as it will rub onto others. Also, it's the one thing that you can always control. Control it. Additionally, try to surround yourself with people who feel energized. You often become like the people in your crowd. Surround yourself with people that make you want to keep going. Plus, be patient when things don't go quite the way you planned.
2. Aptitude: It helps to have someone in the group that knows a lot. Sometimes, you are fortunate enough to get two (2) or three (3) people who can guide the rest. It is nice to bring someone else who is not as far as you, too. You learn a lot by teaching (see previous post), but it also is a checkpoint. If the person behind you starts to catch you, you know that you need to pick up your pace. Learn how easily each person learns, as this will affect some planning. Not everyone learns at the same pace.
3. Ambition: First of all, you NEED to feel this. Without this, you will be scared. Real estate is somewhat complicated (so I'm told), and you will hit some rough patches. If you have a burning desire, you will see this as progress and one step closer to success. It helps if, at least, one other person in the group has a similar ambition level. When blended correctly, you will lift each other and maybe other people as well.
4. Availability: Who cares whether you have a great group if you can never get together? Try to establish this quickly. If it's too hard to please everyone, maybe split into smaller groups. The smaller groups can always exchange notes.
5. Skill Set: Understand YOUR skill set. Even if you're a beginner, you know something that someone else does not. Plus, try to learn what other people bring to the table. Remember that every person can bring something. I won't guarantee that everyone will be willing to share it, but many are. You might find a partner, a teacher, or just simply an idea of something you want to improve.
6. Peer Pressure: It's a good idea to include or find some members within the group who make you want to do better--people around whom you feel too foolish to let down for not doing your share of what you promised.
Most of the time, support groups are great, but if you take these things into consideration, you will be well-positioned to get the most you can from the group.
1. Attitude: Try to bring a good attitude yourself. This is most important, as it will rub onto others. Also, it's the one thing that you can always control. Control it. Additionally, try to surround yourself with people who feel energized. You often become like the people in your crowd. Surround yourself with people that make you want to keep going. Plus, be patient when things don't go quite the way you planned.
2. Aptitude: It helps to have someone in the group that knows a lot. Sometimes, you are fortunate enough to get two (2) or three (3) people who can guide the rest. It is nice to bring someone else who is not as far as you, too. You learn a lot by teaching (see previous post), but it also is a checkpoint. If the person behind you starts to catch you, you know that you need to pick up your pace. Learn how easily each person learns, as this will affect some planning. Not everyone learns at the same pace.
3. Ambition: First of all, you NEED to feel this. Without this, you will be scared. Real estate is somewhat complicated (so I'm told), and you will hit some rough patches. If you have a burning desire, you will see this as progress and one step closer to success. It helps if, at least, one other person in the group has a similar ambition level. When blended correctly, you will lift each other and maybe other people as well.
4. Availability: Who cares whether you have a great group if you can never get together? Try to establish this quickly. If it's too hard to please everyone, maybe split into smaller groups. The smaller groups can always exchange notes.
5. Skill Set: Understand YOUR skill set. Even if you're a beginner, you know something that someone else does not. Plus, try to learn what other people bring to the table. Remember that every person can bring something. I won't guarantee that everyone will be willing to share it, but many are. You might find a partner, a teacher, or just simply an idea of something you want to improve.
6. Peer Pressure: It's a good idea to include or find some members within the group who make you want to do better--people around whom you feel too foolish to let down for not doing your share of what you promised.
Most of the time, support groups are great, but if you take these things into consideration, you will be well-positioned to get the most you can from the group.
Saturday, October 17, 2009
Give Testimonials
That's right! Give testimonials freely.
Why?
Besides helping out someone else (which is usually a good thing to do), they
Why?
Besides helping out someone else (which is usually a good thing to do), they
- provide free advertising (give name and company; maybe slip in your benefits, too)
- showcase your communication skills or accessibility
- demonstrate that you acknowledge other people's good work (making them more likely to want to work with you)
- help separate you; not everyone is willing to take time to do this
Idea: Testimonial Source
This will be a quick one today, but someone gave me an idea worth mentioning.
Every business has different phases to it--including real estate. You can get a testimonial from people different phases.
For instance, you could get a testimonial from your
Every business has different phases to it--including real estate. You can get a testimonial from people different phases.
For instance, you could get a testimonial from your
- Real Estate Agent
- Contractor
- Lawyer
- Mortgage Officer
- Hard Money Lender
Any of these people can vouch for your professionalism, your ability to pay them on time, your willingness to make things easy for them, etc.
Wednesday, September 30, 2009
Drive by Houses, Learn Neighborhoods
Hi, everyone!
It's been a while since I've posted on here. Truth is that I was getting stumped. I was getting stumped about what to write. More importantly, I was getting stumped about what to DO.
I don't know the truly right answer, but I did something that I should have done a LONG time ago as a beginning investor. I looked up some houses on Yahoo Real Estate (you can use other sources, too), and I drove by the houses.
This forced me to take action. I needed something to get "my ball" moving again.
This forced me to look at neighborhoods.
Hopefully, I can look at some of these houses with a realtor sometime soon. However, even if that doesn't materialize, I started thinking of real estate not only as an isolated property but as being part of a neighborhood--part of the whole package.
This takes some time. Well, the research takes very little time, but driving to find the places does. I bet it will take less time as I get to know my surrounding neighborhoods better.
So you beginning investors...if you aren't already, go check the web for places to visit.
It's been a while since I've posted on here. Truth is that I was getting stumped. I was getting stumped about what to write. More importantly, I was getting stumped about what to DO.
I don't know the truly right answer, but I did something that I should have done a LONG time ago as a beginning investor. I looked up some houses on Yahoo Real Estate (you can use other sources, too), and I drove by the houses.
This forced me to take action. I needed something to get "my ball" moving again.
This forced me to look at neighborhoods.
Hopefully, I can look at some of these houses with a realtor sometime soon. However, even if that doesn't materialize, I started thinking of real estate not only as an isolated property but as being part of a neighborhood--part of the whole package.
This takes some time. Well, the research takes very little time, but driving to find the places does. I bet it will take less time as I get to know my surrounding neighborhoods better.
So you beginning investors...if you aren't already, go check the web for places to visit.
Saturday, September 19, 2009
Herbert Strather: The Master Real Estate Investor
Honestly, since I've been studying money making methods, including real estate, I've been fortunate enough to meet many different investors. Some of them are truly great.
You might notice my title of this post. I don't know whether Herb Strather is the best, but I know he's really good. Why am I writing about him?
Well, I saw him talk this past week, but truthfully, I see a lot of presentations. So that, alone, isn't it. Let me tell you. While he happens to capture me with his lambasting passion--you really can't help but notice it--what separates him from many others is that he removes YOUR excuses.
You see, Herb spent his childhood living in one of Detroit's "hoods." (For those of you who really know the City of Detroit, he was near Mack and Mt. Elliot.) He and his family had no money, but Herb used this to his advantage. This gave him a burning desire to find a way to escape life's prison.
Before graduating high school, he started working in a local factory. So he was making a little bit of money, but he wasn’t getting rich. However, he had the foresight to build his relationships with the bankers waiting on him. When he graduated, he borrowed the money to buy his first house and found a way to put cash in his pocket. That’s right! He got property AND cash! He had a debt to repay, but he used that cash to buy another property. Now many years later, he completed more than two billion (yes, billion) dollars in deals.
So if a poor, underprivileged black kid from inner-city Detroit can do it, what is most of the rest of our excuses?
Herb removes most, if not every, excuse not to invest successfully in real estate. Plus, he makes himself available so often at such reasonable prices. I saw him for FREE the other night. I bought a paperback and an e-book from him. Compare the price of those things to what many others charge you. (Remember: Herb did not require that we buy the book.) He is a pretty amazing resource. He has a passion for rebuilding Detroit’s dilapidated neighborhoods, and he is willing to help anyone, especially those that help revive the city. It’s an absolute shame that more people don’t utilize him.
If you get an opportunity to see Herb Strather, I suggest you run—don’t walk—to see him. In the meanwhile, check out his website: www.StratherAcademy.com.
You might notice my title of this post. I don't know whether Herb Strather is the best, but I know he's really good. Why am I writing about him?
Well, I saw him talk this past week, but truthfully, I see a lot of presentations. So that, alone, isn't it. Let me tell you. While he happens to capture me with his lambasting passion--you really can't help but notice it--what separates him from many others is that he removes YOUR excuses.
You see, Herb spent his childhood living in one of Detroit's "hoods." (For those of you who really know the City of Detroit, he was near Mack and Mt. Elliot.) He and his family had no money, but Herb used this to his advantage. This gave him a burning desire to find a way to escape life's prison.
Before graduating high school, he started working in a local factory. So he was making a little bit of money, but he wasn’t getting rich. However, he had the foresight to build his relationships with the bankers waiting on him. When he graduated, he borrowed the money to buy his first house and found a way to put cash in his pocket. That’s right! He got property AND cash! He had a debt to repay, but he used that cash to buy another property. Now many years later, he completed more than two billion (yes, billion) dollars in deals.
So if a poor, underprivileged black kid from inner-city Detroit can do it, what is most of the rest of our excuses?
Herb removes most, if not every, excuse not to invest successfully in real estate. Plus, he makes himself available so often at such reasonable prices. I saw him for FREE the other night. I bought a paperback and an e-book from him. Compare the price of those things to what many others charge you. (Remember: Herb did not require that we buy the book.) He is a pretty amazing resource. He has a passion for rebuilding Detroit’s dilapidated neighborhoods, and he is willing to help anyone, especially those that help revive the city. It’s an absolute shame that more people don’t utilize him.
If you get an opportunity to see Herb Strather, I suggest you run—don’t walk—to see him. In the meanwhile, check out his website: www.StratherAcademy.com.
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