Tag Archives: real estate

Fear of Success

When I got started in real estate, I literally walked away from my life and everything – and everyone – I knew. I put fear in the backseat and made a decision to give it everything I had and to remove failure as an option.

I would be lying to if I didn’t tell you I was terrified more often than not in the early days. So understand that most people in your shoes would feel exactly the same way you do, no matter what your situation is.

But the question I ask you is: What are you afraid of?

The easy answer is fear of failure, but I believe that more people have a fear of success. When you are afraid of failing, you don’t give it EVERYTHING you have. That fear keeps you from putting forth a real effort. It gives you a constant out. “I didn’t do my best, but I could have if I really wanted to”.

The fear of success is what happens when you start moving forward. It’s the fear that “this could work”. Then what? What about your family? Your friends? What would you do if things changed?

Things WILL change if you put all of your energy, effort and focus into changing your future. But remember… change is natural. Change is good. And the only constant in the universe is change.

Learn to embrace the fear and learn to be uncomfortable. I had a very dear friend of mine, who’s remained a friend over the years, say to me one night, “Heather, you’d never be comfortable with comfortable”. At the time, I was a little offended, but learned later that it was the biggest compliment he could have ever given me because it meant that I had finally stopped worrying about what everyone else thought, and was focused on my future.

Fear can creep up on you when you are not looking and you may not be asking for what you want only what you think you can get. This happens to all of us. I even sometimes catch myself not necessarily acting in my own best interest because of fear. Learn to stay aware of your fear and how it can overpower and paralyze you.

Overcoming fear allows you to be the best that you can be.

Learn to have a positive attitude and surround yourself with like-minded people. This is the key to not letting these fears overwhelm you. And, when they creep up, reach out for support. Someone will be there to put you back on the right track. The fear of success may be more about the fear of losing what you achieve.

I ask you, are you more comfortable never achieving your dreams for fear that you might lose something in the pursuit? Or are you ready to go out and get the things in life that you want and not take no for an answer?

Is It A Good Time to Buy Real Estate?

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Nothing is harder to watch than seeing real estate investors simply watch the best market we’ve seen in countless years pass them right by.

If this is you, here are 5 concrete reasons why this market is the best we’ve seen in years and why now is the time to buy real estate.

Rock Bottom Home Values
Home values have plummeted. I don’t think anyone would argue here. And what does that mean for you…deals, deals, and even more deals! We have right now the best deals we’ve seen in the last decade or more.
Cash Flow
It also has gotten a lot easier in just about all markets to cash flow on properties. During the boom, many of the most popular markets across the country became virtually impossible to really cash flow. Now, not only is it a lot easier; but it’s expected!
Real Motivated Sellers
The real motivated sellers just raised their hands. What was considered a motivated seller 3-5 years ago was they were will to sell their house. Sure, there were some hard cases but they were far and few and took a lot of digging. Now, they are everywhere.
Government Programs
There are a number of government programs available to help new home buyers buy real estate and to help investors get into real estate for very little down and record low interest rates.
Low Risk Strategies
Terms have never been easier to negotiate; taking a lot of the risk and upfront money out of the game. You really can invest with very little to no money or risk at all.

Real Estate Listing Sites

Free posting sites are the Holy Grail for real estate investors!

Why? Because not only are the free, they get results. And they get results FAST!

I’m talking… You can literally post an ad in 5 minutes and start getting emails from prospects in 10! These sites work exceptionally well for ? nding all types of buyers.

In fact, I gave an agent in my real estate of?ce a speci?c process for using just ONE of these sites to ?nd buyers, and within just a few days, he had 3 buyers for $300,000+ deals!

The best part is that they are super simple to use!

You just have to know which ones are the best for your target market and come up with a consistent strategy for posting. Since they ARE FREE, it’s critical that you post frequently because many other people are also posting their ads and, consequently, moving your property down the list. (Most are displayed newest ?rst).

It seems as though there are new websites popping up daily, and it’s easy to get overwhelmed trying to ?gure which ones – and how many of them – you should be posting to on a regular basis.

So, for now, let’s stick with the ones that have proven to work. But always keep your eyes open for new sites that are getting visitors and gaining traction!

Craigslist (www.Craigslist.org)

Craigslist is a great place for posting a variety of free classi? eds, real estate in particular. You can post properties for sale, properties for rent, vacation rentals, etc. And this should be your ? rst stop when it comes to using free posting sites.

Pay careful attention to your headline, pricing and location.

There are a number of strategies that you can use to increase the chances of prospects getting TO your actual advertisement such as including extra characters, changing the last few digits of the price, etc.

Learn how to Crush It with Craigslist Real Estate ads…

Zillow (www.Zillow.com)

Zillow is also a great site to post and advertise your home. Zillow was initially used as a “comp” tool. Zillow also allows people to list their properties for sale as well.

The good news is that Zillow has a substantial amount of traf?c and you can capitalize on that for free. Not to mention, it’s a good idea to keep an eye on Zillow because they’re de? nitely adding some new tools that will be valuable resources for investors and homeowners alike.

Postlets (www.Postlets.com)

It doesn’t get much better than Postlets. This site allows you to submit your classi? ed ad, for free, and will distribute it to a number of other free positing sites.

In addition, you can create your own property webpage that they will host for free. So, not only can you submit you ad for free to their site, but they’ll do lots of the other work for you (also for free!).

In addition, you’ll also get the code to post it right on your own blog. This is one of the best tools for selling deals (and most investors and Realtors® haven’t got a clue about it).

If you want to take it further, upgrade to their premium package which gives you a multiple page website for your property, integrates Google mapping, allows for enhanced photos, and video/virtual tours as well as external website links potential buyers can be directed to for even more information.

Here is a partial list of sites to which Postlets will aggregate your ads:

Backpage
Craigslist
Enormo
FrontDoor
HotPads
Oodle
Trulia
Vast
Zillow

These are just a small handful of sites that you can post your properties on absolutely free! When it comes to these types of sites, the old adage: “You get what you pay for” is not true! These sites pack a big punch…

The only caveat is that they require an investment of your time to post. And the best part is that you can always outsource that part for pennies ;-).

Tips for Effective Online Classified Ads

Write Attention-Grabbing Headlines.
You are ?ghting for your prospect’s attention and you’ve got loads of competition! So, you’ve got to grab their attention in order to get them to click through to your actual ad. The ENTIRE goal of your headline (or title) is to get the person to click through to read the rest of your ad. That’s it!
Use “odd” Number Prices.
For example, if your property is $150,000, by simply changing the last three digits to something other than “000” or “900”, you will increase your click-throughs. To keep it simple, we recommend using the last 3 digits of the property address, so if the address is 1234 Main Street, your price would look like this: $150,234. It just breaks up the pattern as the prospect skims down the page.
Describe the Features and Bene?ts.
Always include the features and bene? ts in your actual ad. Most people remember the “features” and leave out the “bene? ts”. This is extremely important!
Include the Maximum Number of Photos.
Always include the most photos that the site will allow. When people are sur? ng the Internet looking for properties, you can never have enough pictures.
Bonus Tip: include a link to your own website where you have more photos of the property. To see the pictures, ask for a name and email address! Now, you’ve started building your list.

Tips for Time Management for Real Estate Investors

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With all the day to day task that seem to take up the bulk of our time, how would you like to get just as much done or even more, and have more time left over to enjoy other things in life? Well, whether your real estate business is a full or part-time career, we all can get a few more hours out of the day by doing a few simple time management strategies .

Here are Tips for Time Management for your Real Estate Business:

1. Prioritize

We all are looking for more hours in each day. We’ll, I hate to be the bearer of bad news, but there are never going to be more than 24. But, you can seemingly get more hours if you learn how to properly prioritize your tasks. Start off by clearly defining what tasks are the most important and those that are not the most important. Arrange your schedule around your list.

Also, like most of us, you probably have other jobs and responsibilities other than your real estate business. Developing a clear cut time allocation system for when you can do each task will great improve your efficiency. For each task or set or responsibilities, make an independent priority list for them as well and you will soon find that they get done more quickly; freeing you up to do other things.

2. Delegate

Some of the most affective time management strategies evolve around delegating. Learning how to affectively delegate is a skill in itself but once your learn it, it can free up valuable time to either grow your business or to simply give you more time to spend with your family. Don’t make the mistake that just because you have done certain task up to now that you must continue to do them.

Often times, you’ll find that delegating these tasks out not only saves you time, but can also give you better results. We all can be experts at everything. Take the tasks that aren’t necessarily your strongest suite and delegate them to people in that field that can do them better. This will allow you to focus on the parts or your business that you do best and allow you to do them even better.

3. Set Goals

It is also advisable to jot down your desired goals in the form of a checklist. Take the time to think out your goals and their associated tasks and put them into a long term and short term list. Make sure you put realistic, obtainable timelines for each goal as well and give yourself deadlines to review where you are and to make the necessary adjustments when needed. Over a short time, you will become an expert at setting goals and task and yourself up for success.

4. Get organized

This is a fundamental requirement for effective time management.

Begin by keeping your home office or office clutter free, neat and tidy. You will find half your problem will be solved from the get go. Spending valuable time looking for files, documents, etc… is not only wasteful but very frustrating as well.

Taking a few minutes to come up with an affective filing system and calendar is also critical. If your business is new, set your self up for success but getting a good filing and calendar system ready from day one. If have an established business, it well worth a few hours and a few steps back to get these items ironed out and headed in the right direction moving forward.

Should I Sell or Rent My House?

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Investors all over the country are asking themselves this very thing. Whether you’re in a “reasonably” stable market or one that is still seeing a significant decline in values, the choice of do I sell or do I hold is not as easy to answer as it was say just a few years ago.

Some investors who are still enjoying large amounts of equity in their properties and wondering if it’s time to sell while others are wondering if it’s a good time to make a couple of thousand dollars while they can. There’s no telling where this market is going to go and a few thousand is better than nothing.

When deciding on whether to sell or hold on to one of your investment properties, it will depend on several factors. First and foremost, it ultimately comes down to your financial situation. Plain and simple. But, since there are a lot of factors that make up someone’s financial situation or financial portfolio; it makes it a little more difficult to give clear cut advice. So, not so plain and simple.

But ultimately, what makes this decision so hard? Because now is the time that millionaires are made in real estate. Sure, they can be made in any market, especially in a highly unusual appreciating market like we where in a few years back, but now is the time smart investors build true wealth.

This is where and when people build their retirements. And if you looked over time, you’d find that many more millionaires are made this way than with the quick hit markets. So, regardless of your situation, if you have a property that is cash flowing; even just a few dollars a month and you can afford too, we recommend holding on to it if you can.

The kicker here is that you can this build wealth much more easily and safely now than in other markets as well. Even in the markets that are still seeing declines, they are not as severe as they were a year ago. The market is leveling off making it a lot easier to know the true value of your property and makes it a lot easier to find properties with equity and cash flow value. So, not only would we hold on to our current cashing flowing properties, we’d suggest buying more! Now is truly the time to buy.

For example, property values are significantly lower across the board making it much more likely that you will not only cash flow, in even the most difficult cash flowing markets; but you are able to substantially cash flow.

We’re talking about real income that not only makes a difference in your life now, but will allow you to hold onto the property for years to come so you can take advantage of the appreciation. Which will happen. Regardless of what you hear, the facts are that markets may go up and down but over time real estate gains value. There is no disputing that.

And if you are able to cash flow, you don’t have to worry about the small remaining dips we’ll see in the future. They property is paying for itself. Enjoy the cash and grow your wealth.

Now, there are a few factors that we will need to look at as the “exception” to this rule. First, if you are in a market that is still seeing substantial drops in values and/or a tidal wave of foreclosures and short sales, you may need to look at the bigger picture. In many of these markets rents are going down as well as home values. So, if this applies to you and you are seeing only a small amount of cash flow or even a small amount of negative cash flow, if you can sell for a small profit, sell for the profit.

Take what you can now and don’t look back. I would however take that small profit and investing it into another market that is more stable and which allows you to comfortably cash flow and enjoy your investment. Those have become easier and easier to find.

Next, we also have to look at the many people who are stuck with properties that are so upside down in their value that they are not cash flowing now and are not going to cash flow anytime soon. I would guess that about 20% plus of the markets out there are in this situation. Some investors I’ve met are stuck with properties that are costing them several thousands of dollars a month even with a tenant!

This, of course, would be an entirely different situation as well. The answer here is to meet with your CPA and lawyer and follow their advice on how to get out the best and least damaging way possible. Make sure that both have experience in the real estate field and are well schooled in what you should do and how you should go about doing it. At the end of the day, credit can be rebuilt and probably much faster than the financial damage being done. There’s only so long you can go on spending thousands of dollars a month with no end in sight.

The decision to hold or sell your investment properties depends on several factors including your financial situation, you particular market’s stability, and the cumulative positive/negative cash flow of your current properties

At the end of the day, if you have a positive cash flow than hold it and enjoy the ride up. It may be a few years away but it will go up. But, if you are struggling to make ends meet and need the cash to pay your other bills or if you have a severe negative cash flow situation, them consult your financial/legal team and find out what you need to do and unload the property. For some, it may be the only solution.

7 Simple Tips for Flipping Real Estate

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Unless you’ve been living under a rock for the past few years, you’ve probably either dabbled in real estate yourself, or at the very least, know someone who has. So, how does someone that’s brand new to real estate start flipping homes?

And let’s clear the air right now… IT IS NOT TOO LATE to start investing in real estate! In fact, right now is one of the BEST times in the last DECADE to get started flipping real estate

Follow these 7 tips to start investing in real estate today:

1. Look In Your Own Backyard

The grass is always greener in the other neighborhood, and it’s easy to keep looking for the “right” area. The bottom line is that any area is the “right” area.

In order to be effective in the steps 2 through 7, you’ve got to get over the idea that real estate deals only exist in other areas. It sounds cliché, but there are plenty of deals in your own backyard. Not to mention, it’s easier to manage and you’re likely to know the values in and around your area.

2. Find the “Right” Property

Not every piece of real estate is a good investment – even if you can “steal” it! Make sure you look at things like:

Property Location – Will you be able to sell the property once you’ve renovated it?
Condition – How much work- and what kind of work – needs to be done and is it a project that you can afford to take on financially and from a management perspective?
Seller’s motivation – Is the seller truly motivated enough to negotiate on price?

3. Have A Thorough Inspection

Unless you’ve been flipping real estate for a while or have a background in construction, then it’s a good idea to have a full home inspection. It may cost you a few hundred dollars, but will catch things that maybe you didn’t know to look for. When flipping real estate, it’s the “little” things that add up very quickly and can eat up your profits!

*** Bonus Tip*** Use a home inspection to help renegotiate the purchase price OR ask for a credit toward repairs.

Even to this day, I almost ALWAYS hire a home inspector if I’m going to be fixing and flipping a property. In 99% of the cases we make back far more than the cost of the inspection through additional negotiations and discounts on the property, even things that we knew about when we wrote the contract!

4. Don’t Get Emotional

Real Estate is emotional by nature. Investing in real estate cannot involve your emotions. It’s got to be all business. If the numbers don’t work, move on to the next. So many times, people are so desperate to flip their first deal that they make bad decisions just to do something at all. Then, they’ve become so attached to the deal that they try to sell it for higher than the market will bear and end up holding the property longer, reducing their profit and getting left with a bad taste in their mouth.

5. Know Your Numbers – All of Them!

Late night infomercials will hype you up with pipe dreams of flipping real estate for millions of dollars in profits and no work. You’ve seen the testimonials that go something like: “Mary Smith purchased this property for $100,000. It cost $10,000 in repairs. She flipped the property for $140,000 and made $30,000”.

Somewhere on the screen, you see in teeny tiny print: Results Not Typical. Your Results May Vary!

Of course results are not typical because those results assume that you buy the property for all cash and pay no closing fees and have no monthly costs. Be VERY cautious of deals that you see that sound like that!

In the real world, costs associated with flipping real estate are:

Purchase costs: Upfront mortgage fees, attorneys fees, regular closings fees, title, survey, etc.
Carrying costs: It’s more than just the repairs! When you’re flipping real estate, you’re likely paying higher interest rates than on, let’s say, a primary residence or second home. In addition to the repairs, you’ve got to consider monthly payments, taxes, insurance, utilities, etc.
Selling costs: Again, you’ve got closing costs and possibly real estate commissions to consider.

Whether you’re flipping a real estate deal here and there or you’re looking to make real estate your new career, it’s important that you know – and figure – your costs into your calculations. Keeping this in mind will help you keep from getting emotional (See Tip 4)

6. Keep Track Of Your Progress

You can’t improve what you can’t measure! Throughout the entire project, you’ll want to constantly track your progress. This way, you’ll know, at any given time, where you stand on the deal. This will help keep you focused by keeping the bottom line in front of you all the time.

7. Expect the Unexpected

In virtually every single property you flip, you will run across SOMETHING that you simply didn’t expect. Whether it’s an issue that pops up 2 hours before closing that needs to be handled or a big surprise when you peek behind the drywall that you had to replace! You’ll almost always run at least a little over budget or hold it a little longer than you anticipated. But at the end of the day, you’ll have the satisfaction of taken an ugly house and turned it around and depositing a healthy check in your bank account.

Learn how to evaluate a real estate deal in less than 15 minutes. Get your FREE video on flipping real estate and uncover the top 5 secrets that you need to know to double your profits on every single deal. Get your free video and 5-part mini course at http://www.fixingandflipping.com

Probate Investing Simplified Real Estate Course

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This real estate course introduces students to the basics of probate investing and how to get your probate marketing campaigns up and running quickly.

This training, you’ll discover:

The SPECIFIC “Probate Profit System” that will teach you to dig up mounds of money and create a continuous cash-flow into your bank account — month after month after month… all in just minutes each week.
How to PINPOINT the Probate Decision-Makers — without wasting your time or talking to the wrong people. (It all comes down to this person/persons).
How to effortlessly and automatically fill your Probate pipeline with proven — time tested — marketing tactics and strategies (yes, there is a specific process, yet most real estate investors don’t have a clue)…
5 specific ways to generate ADDITIONAL INCOME without spending another nickel (PLUS… these additional income streams actually help you get MORE PROPERTIES!)
How to avoid the mistakes your competitors are making and DOMINATE THE MARKET by increasing the number of motivated probate leads flowing into your pipeline, negotiating better deals with more equity, and closing more contracts…
…And many many more proven secrets that will help you create your family’s very own economic stimulus plan!

Course contains: 67+ page digital training guide, audio training, probate investing blueprint & process map, unlimited deal review, private probate interview, 7 ways to find buyers training.

PLUS… Probate letter campaign training video. (Learn how I create – and implement – my probate investing marketing campaign)

Training created by Heather Seitz, Real Estate Training Academy

Should I Invest In Real Estate Today?

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Lately, I’m finding that lots of my successful – non-real estate investor – friends are wanting to get their foots in the door with real estate investing. This is a sign that the tides are turning because “real” investors are wanting to get in on the deals!

The 5 most common questions that come up include:

Is this a good time to invest in real estate?
What if the market continues to go down?
Is this a good deal – or type of deal – for me to get involved with?
What’s the best strategy for this market?
How can I protect myself in the current economy?

Let’s take a quick look at each of these questions: Continue reading →

Real Estate Investing Mistake – Lack of Focus

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Real Estate Investing Mistake #1: “Focusing on the Next Shiny Object”

There’s so much information everywhere you turn that it’s extraordinarily easy to get distracted. One “guru” is telling you that – hands-down – foreclosures are the most profitable strategy. Then, another “expert” is saying that foreclosures are frustrating, overworked, and unprofitable and claiming that the best way to make money now is investing in “paper”.

So, what’s a new investor supposed to do?

Who’s right and who should you listen to?

The answer may surprise you!

The truth is… just about any market is profitable at any given time. It’s just a matter of finding a system that works and following it… Continue reading →

Real Estate Market Trends

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I know we always hear that “THIS” is the best real estate market in HISTORY to invest in! (We heard in 2000, we heard it in 2003, in 2007, and even now in 2011). Yet, the real estate cycle has looked somewhat like a heart monitor in the emergency room!

So, what’s the real answer?

IS IT a good time to invest, and SHOULD you get started now in, arguably, the worst economy since the Great Depression?

The answer is YES!

And I’m not going off of any media reports or exhaustive expert research. I’m going off of what real people are thinking and doing.

For example, I’ve had 3 friends contact me from all across the country (Nevada, Texas, Virginia, and Florida) asking for some advice about investing now.

These are people that are SUCCESSFUL business owners and savvy with finances. They’re NOT real estate investors, but they ARE looking at the opportunities that are out there.

THIS is the time to get in… (Before the media jumps on the bandwagon. Before the experts reveal the market’s taking off. It’s when the “real people” are starting to get in the game). And you can too!

Why do I share this with you?

Because when my personal friends call me and ask for advice, I share with them the same fundamental process and system. It’s this exact system…

I’m not giving them a strategy to make $11 Million dollars in the next 7 days… I’m not giving them advice on how to “beat the system”.

It comes down to the fundamentals… But too many investors have lost sight of them which is why they’re losing their shirts or have never gotten off the ground in the first place. Well, you don’t have to!

If you’re FINALLY ready to make real estate work, THIS is the complete roadmap… It’s the same information I paid $3997 for in 2003. And it’s the same stuff that’s worked for decades all across the country.

By the way, people have asked me what training I took when I started?

Here’s the truth. I took a Robert Allen class offered by a training company. I went on to IMPLEMENT, and then to teach that same training alongside my own instructors. And here’s your chance to get your hands on the SAME information. SO, it all comes down to this:

The RIGHT System + Focused Action!