Advantages and Disadvantages to an MLS Search

MLS searches (or Multiple Listings Service) are based off the principle; „Help me sell my inventory and I’ll help you sell yours.“ It is a unique concept, though one not many other industries use. Real estate brokers acknowledge the advancements in technology once MLS searches became popular, and are willing to present the advantages and disadvantages of MLS queries to interested parties. The decision of utilizing this service is ultimately up to the potential buyer.

No For Sale By Owner (FSBO) Options

One of the big disadvantages to MLS searches is they do not include homes sold by the owner, unless the seller has negotiated a certain percentage of the commission to the realtors. If interested in FSBO’s, the buyer must search potential neighborhoods for FSBO signs and negotiate a price within their range. If the buyer does not know much about negotiating prices, or how much homes are worth, MLS queries still provide some contribution for comparison purposes. If excessive research is undesirable to the buyer, then MLS queries provide another benefit.

Less Research for the Buyer

Buying a home might already be considered a stressful process for some. MLS searches can cut down on some of that stress because it reduces the research the buyer must conduct. There are already so many other aspects a buyer must remember to look into, including the community, crime rate, demographics, school districts, job outlooks, among others. MLS queries place hundreds of homes from the participating brokers into one database, with hundreds of fields with which to search the properties. Knowledgeable brokers with years of experience determine these popular search fields; whereas if the buyer conducts the research by himself or herself, he or she may question whether the information they find is accurate.

The Internet Outdates MLS Queries

The younger generation might claim the Internet is called the „Information Highway“ for a reason. While it is true certain states have their MLS queries readily available on the Internet, not all states have this accessibility. It is also important to consider that information researched on one’s own time might not be as accurate as the MLS searches provided by real estate brokers.

A Trusting Community

As mentioned earlier, all MLS queries are based off the „You scratch my back, and I’ll scratch yours“ premise. In other words, there are no hidden agendas. All brokers participating in MLS queries are trying to provide the buyer with the greatest number of options. They keep the buyer’s requirements in mind and try to create satisfactory customers.

Ultimately, the decision to use MLS searches or to conduct the research on one’s own is up to the potential buyer.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Keith Andrews

What Will Happen To Home Prices?: Immediate, Short – Term, Intermediate, And Longer!

Since, no one, has, yet, been able to discover, a Crystal Ball, which can, consistently, identify, the future, and real estate – related, market trends, and behavior, it makes sense, for, real estate professionals, as well as qualified, potential buyers, and sellers/ homeowners, to better – understand, some of the factors, which impact home pricing, and prices! While pricing is what one lists his house for, on the market, prices, are, what it actually, sells – for! Since, we are presently, witnessing, one of the fastest – rising (in terms of pricing) markets, in recent memory, many are asking, what does the future, hold, etc! As a Real Estate Licensed Salesperson, in the State of New York, for over 15 years, I consistently, warn people, do not try to market – time, but, rather, proceed, in a well – informed, realistic way, based on one’s specific needs and priorities, and personal situation. With that in mind, this article will attempt to briefly, identify, review, consider, and discuss, home prices, as they relate, to the current market, short – term, intermediate, and longer – term ones.

1. Present Day/ Immediate: In many areas, we have witnessed, in the past 6 to 12 months, a 20% or greater, increase, in home prices. I am amazed, in my neighborhood, houses, I feel are nice, but not extraordinary, are selling, for 1.2 million dollars, and more! While, those considering, selling, should take advantage of this, before trends, change, potential buyers, must identify, whether their purchase, is intended, for the shorter, or longer – run! Factors creating today’s conditions, include: near – historic – low, mortgage interest rates; post – pandemic perceptions and priorities; emotions; and desire to relocate, etc. How long will this continue? My guess, would be, it would, first, slow – down, and, then, level – off, and perhaps, the single, biggest cause, might be mortgage rates! Affordability of down – payments, and closing costs, etc, become bigger limitations, as prices, rise!

2. Short – Term: How one defines, short – term, is significant, in terms of determining, what might be! If, we consider it, to be, from, about 6 months (from now), to, about 3 years, from now, if economists forecasts, are somewhat – accurate, chances are, prices will not rise, significantly, etc.

3. Intermediate – Term: Defining intermediate – term, as from about 3 years, to perhaps, 10 or so, years, from now, it becomes more challenging to predict! Will we witness, another example of real estate cycles, or, will, aggressive prices, even if, not at present – day, paces, become the new – normal?

4, Longer – Term: For those, planning to hold their home, and live there, for 10 or more years, we will probably witness, pricing, corresponding to the inflation rate, market conditions, and, the specific, geographic area! In other words, longer – term tendencies, will probably, return to what we consider, historic, normal trends and tendencies!

Remember, this article is intended to help you, more realistically, consider, home price, tendencies, and behaviors, but, there are never, any guarantees! Wise home buyers, should identify, what they, personally, seek and need, and why!

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Richard Brody

For Sale By Owner Education and Training

There are many properties in this world, which are bought by an owner and after some time they are put up for sale by owner. There can be many reasons for this type of action. There are often the emergencies of situations, which impel the owner to sell their property. The situation is different depending on the person… Some sell their property when they undergo a difficult financial period of their life or when they go through any kind of separation or divorce or even some other major unexpected turn in their life. They also sell their property in order to free the capital in their properties so that they can pay back their creditors.

It is the general practice of owners of properties to sell their properties through real estate agents. However, now-a-days more and more house owners are inclining towards using the service of for sale by owner sites, popularly known as „FSBO“ sites. Selling property through these „FSBO“ sites without the help of real estate agents is becoming a trend in the real estate business. In United States and Canada, the percentage of houses sold through „FSBO“ sites is getting higher and even in United Kingdom people have started using these sites.

People are using for sale by owner sites not only for that reason, but because they offer numerous benefits that are worth the effort. One of the main reasons why people opt for selling their properties themselves from these sites is because in this way they can avoid the really expensive real estate agents. This does not only save you a lot of money, but it also increases the number of potential buyers of your property. However, there are also some buyers who have this idea that owners who sell their houses through these sites generally ask for more than their market rate.

Another benefit that you get by selling your property through „FSBO“ sites is faster sale of your property. If you are in dire need of money you would like to sell your property as soon as possible. However, if you contact a real estate agent it will become a long process. A potential buyer also may not like to wait for so long. And if you wait for too long to sell your house, buyers may being to believe that there is something wrong with the house and avoid buying it.

The other benefit that you get from selling your property through „FSBO“ sites is a convenience. When you sell your property through these sites you are in full control of everything. You decide the rate, the buyer and everything. You will be able to choose the potential buyers and fix appointments with them according to your convenience. You do not have to clean your property everyday expecting a sudden visit from a buyer. You will be less stressed as you are going to be in control and can even plan everything according to your schedule if your house is for sale by owner.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by James Savage

Set the Stage For Your Own Home Selling Success Story

There’s a new wave of home shows on TV these days and the focus is on getting a house seen and sold quickly and for top dollar. These shows feature all the elements of a good plot; drama, comedy, suspense, bad guys, victims, good guys, and always it seems a happy ending.

The drama unfolds with the scene set as the sellers, our victims, are obviously in desperate need of a quick home makeover to sell the place. The bad guys, the Realtor or potential buyers walk through the willing victim’s home and offer candid, sometimes crude remarks on how the house shows. The victims generally sit like rabbits in hole at a neighbor’s house and watch on TV as the scene unfolds and what these bad guys have to say about their place.

Yikes, they need help! Here they come to save the day, the helpful crew, our heroes; stagers, designers, painters, carpenters, camera men and of course our host, to the aide of our sellers. They will rescue our victims and the sale of their home by getting it spiffy for sale in less than 2 days and for less than it costs for a day at Disney World. Everyone’s happy and the show, I mean sale, is a success!

How can you as a home seller create this same experience without America watching but reach your intended audience – the buyers in your market? I’ll tell you how, STAGE your own property!

Staging is a marketing tool that highlights you home’s best features while minimizing the negative. Staging is not about your personal style or taste.

Notice in most of these shows, the designer will „neutralize“ the space and strip away the often outlandish, messy or outdated style of the owners in question. It’s about selling the space, the house itself, not the contents. Buyers want to envision themselves in this home, not your house.

Treating your house like a commodity for sale on the open market is the first step in separating yourself from your home, it is now a product. It gets easier after that.

Here are a few simple tips to start you on your way to your own successful sale;

1. Declutter, depersonalize and deep clean your place. All the little knick knacks, kid’s artwork, family photos and rooster collections need to be packed up and moved to storage. Save them for your next place. Remove items not permanently adhered to counter tops in bathrooms and kitchens especially. You have to pack anyway, get started early! Get the house cleaner than you ever have before, including the grout, wall plates, door frames, carpets and windows.

2. Neutralize vibrant wall colors and remove wallpaper, even if it is a „designer“ color, faux finish that was popular 5 years ago or took 18 hours to dry. Buyers want a home that is move in ready and despite what you feel about the colors you love, buyers probably won’t and will look at it as work to do – not move in ready. You can’t go wrong with a warm beige or taupe or an antique white. A fresh clean palette speaks volumes.

3. Remove unnecessary furniture and rugs to storage. Keep only the necessary pieces to show placement and scale of the room. If your furniture is really in bad shape, consider buying few inexpensive newer pieces or slip covers, you’ll be taking it with you to your next place so why not slurge a little? Rugs tend to create a disruption in flow, especially if they are small and scattered about the house this includes bathrooms. One anchoring rug in proper proportion per room is fine if not too busy. Buyers are purchasing square footage, space, flooring, architectural details and counter tops, not your furniture. Show them what they’re getting by highlighting the house not your stuff.

4. Find the focal point of the room and highlight it, don’t make it compete with something else. Maybe it’s the fireplace or the beautiful view, sell the focal point, don’t hide it! Large TV units are notorious for overshadowing the focal point of many rooms, if you can move it or store it while selling you’re way ahead of the game.

5. Create curb appeal both in front and back of your property. Freshly mowed and edged yards, mulched flower beds and seasonal flowers welcome visitors to a home that says, „I’ve been well cared for.“ Removing all excessive lawn art and equipment invite the buyer in and allow the imagination to flow. Keep hoses tight, pool toys stowed and bbq grills to a minimum and out of sight especially if they’ve seen better days.

By doing these steps prior to listing and showing your house, you’ve improved one of the biggest factors in the successful sale of your home, the condition.

You as the owner are the only one who can control that. So whether you invite an HGTV crew, a professional home stager or a neighbor over to help you, you’ve chosen to make your house the star of the real estate show in your local market, one that you have produced yourself and one that will most certainly have a happy ending.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Karen Otto

For Sale By Owner – What You Want To Know About It

When the owners of houses want to sell their own house without the help of any real estate agent or broker, they are called for sale by owner. The National Association of Realtors did a survey report in 2006 that showed that only 7 percent of all sellers were FSBO. There are a lot of hurdles that they have to face when selling their house without the help of any professional. Some of the hurdles may be marketing techniques, timing among others, preparing and designing the house for sale and negotiations.

They need to undertake these hurdles and have to do proper planning because only then you can sale the property successfully. There are many advantages of having for sale by owner, because when there is no middleman, there are no commission fees, so profits are more. Another benefit of this method is that when the owner of the house makes the sale himself, he takes care of all the conditions and clauses in the contract. In case you take the help of a real estate agent for selling your house, the broker is more concerned for the commission and thus forgets other aspects.

If you want to go for FSBO, then you must take care of all the paperwork yourself, and therefore you need the complete knowledge of the market. First of all, you must consider the market price of your house. If you overestimate the cost, you will not find buyers, and if you underestimate the price, you will be at a loss, so proper cost analysis is required. Once you get the market price of your property, you need to get all the papers that are needed to do the sale.

After all these things, now you have to place an ad of your house to attract potential buyers. For this, you can use multiple listing services, and there are various websites for this purpose. You can get the opportunity of allowing tour of your house as a lot of websites give you this kind of service. If you do not want that, you can just include the images of your property so that buyers can have an idea about your property.

You have to face many challenges and hurdles in spite of having various attractive options, like saving in commission etc. You need to sort out all the matters yourself since there will not be any agent or broker to help you out.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Adam Sawyer

Commercial Real Estate Listing Techniques – How to Make Your Property Proposal Better Than Most

When you are invited by the owner of a commercial property to submit a proposal to sell it, you may only have that single opportunity to convey the proposal message and your marketing strategy. Unfortunately most vendor invitations to present sales proposals are made to multiple agents for the single property, so the message in the document has to be clear, and the conversion outcome is critical.

Before you start any proposal, ask yourself this one question. ‚What makes me different in the marketing of this property?‘ If you have not got a clear answer then a major problem exists.

Far too many agents enter a competitive property sale proposal situation with a focus on one or more of the following:

  • Discounted sale fees
  • Discounted commission
  • Discounted or agent paid advertising
  • Inflated price quotation

Whilst the client may initially think that some of this is attractive, it does little to sell the property and may even be counterproductive. Why prostitute yourself? If you are the best real estate agent in your area then show it and make sure the message is clear in your sales proposal.

A great proposal to sell a property is strategic and targeted to the outcome that the client seeks. Everything in your document should be displaying your dominance and understanding of the task at hand. To be the best agent to do the job, the proposal has to illustrate that.

So what are the rules to adopt here? In essence the proposal is to be all about the property and the client in all respects. The following will help you with the blueprint for a great sales listing proposal.

  1. A statement detailing the property location and features. Market appeal of the property is also part of this opening to your proposal. Copies of property titles, plans, photos, tenancy schedules, and encumbrances should also be displayed here.
  2. A summary of the requirements of the client to sell the property should be made. Make sure that this is quite clear so that the client knows you totally understand the brief.
  3. A list of the clients concerns and questions that you have identified is very useful at this point. As a direct follow on to that, you can provide answers for the client. This shows that you are really aligned to the needs of the client.
  4. An overview of the property market and its current trends is essential. As part of this you should then position the subject property into the market you have described and then comment on the competition properties that impact the property marketing today.
  5. Clearly define the target market that you see as relevant to the promotion of the property. Then explain how relevant the property is to that target market and the features of the property that will assist you in the process of marketing.
  6. Recommendations regards methods of sale become the natural flow on from point 4 above. You must give reasons for your selection of the method of sale. Also give the client some comment on the ‚factors of time on market‘ that exist at the time, and the success factors of your chosen method of sale. Give the client some clear comfort that you really do know that the method of sale selected is the best.
  7. Use time lines as an illustration of where you would like to head with this property sale promotion. Illustrations are much better than words. Gantt charts are great for this purpose.
  8. At this point it is best to provide an innovative marketing strategy that complements the chosen method of sale and attracts the defined target market. The promotional strategy offered should have 2 or 3 alternatives of marketing that provide the client with a selection of budgets. Vendor paid advertising is the rule and not the exception in listing a commercial property. Stick to this rule.
  9. Copies of adverts are useful to give the client an idea of what the promotional material will look like and how it will be formatted.
  10. A summary of fees and costs to do the sale should be simple and clear. Whilst costs are always important, if you have done your job in the earlier parts of your proposal, then the fees and costs will be less critical to the client.

All of the above points centre on the property and the client. Very little is said about the agency and what you bring to the property for the client. Only after all the points above are handled should you move to the matters of agency promotion and relevance.

As listing Commercial property for sale or lease is a competitive process, it is important that written submissions for owners are presented promptly. The company that has their submission before the owners first is likely to be given most consideration. However, the listing agreement or contract is an important document and it needs to be prepared carefully to ensure that all the arrangements negotiated with the owners have been included.

You should, if possible, present the submission in person so that you can „walk“ the owners through the documents and immediately clarify any matters of concern. If possible obtain exclusive listings, but whatever the situation, ensure that the document is accurate, well presented and that your oral presentation complements it.

If you think you are the best real estate agent in the market to handle the property sale, then your proposal has to show that very clearly.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by John Highman

Tips For Selling Your Own House

Not everyone is willing to use a real estate agent, since they do take a commission, usually around 7%. That means, by selling your own home, you’ll end up with upwards of $10,000 that would have gone to an agent. And given today’s slow market there is a very real chance your home will sit unsold for a year or more.

Today, more than ever selling your own house can not only be more profitable, but it is your best chance at getting it sold quickly.

In this article, I am going to show you how to go from „selling your own house“ to „I SOLD my own house“.

In a hot market selling may have been as easy as putting a „for sale by owner“ sign in front of the house and collecting offers. But let’s face it, times are tough and most houses are sitting unsold for months and years.

It’s a war zone out there. Foreclosures are at an all time high and that creates a lot of houses for sale on the market. In order to survive in a war zone you need special skills and a competitive advantage. With this special training you can get your house SOLD, despite the doom and gloom of the newspaper headlines.

If you’re selling your own house you need a secret weapon. And that weapon is highly specialized marketing!

Here is a killer marketing tip that will give you a competitive advantage over all other sellers on your block.

Don’t list your home in a traditional method. Instead of „starting high“ and being talked down do the EXACT OPPOSITE. Start low, get a lot of attention and let the buyers drive the price up. I am talking about a do-it-yourself auction style sale.

What is working best now is what’s called a „round robin auction“. Here is how it works:

First you will advertise that your home is for auction. In these tough times buyers are looking to get a good deal. Auctions are the place to get great deals, and your message will leap out at them.

Next you will hold an open house for two days only, Saturday and Sunday from 12 noon to 5 pm. This will allow you to funnel all the buyers through your doors all at once.

Those that are interested in the property will place their name and phone number along with the price they would like to bid on an „initial bidding sheet“.

On Sunday night you call all those people that put in a bid and conduct the auction. You will simply call down the list tell them the current bid amount and ask them if they would like to raise or pass. You will go around and around making calls until the highest and best offer has presented itself, hence the name „round robin auction“.

Now that you have found your buyer you will meet with them and get the paperwork started.

That’s the unique marketing method that is working now. And if you are planning on selling your own house there is no better method to attract droves of buyers and compel them to make offers on your house.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by N Big

For Sale By Owner Home Showing Tips

For Sale by Owner or FSBO is when the owner of a home attempts to sale the home without the use of a listing real estate agent. Due to declining property values, many owners are opting to sell their own home in an attempt to recoup some equity or perhaps break even and avoid a short sale situation. Some owners have sold their home with success; however, in this market with the inventory of homes at an all time high it is crucial that the owner brush up on „showing the home skills„. Here are a few tips to consider and possibly apply to your showing technique:

The Stalker Homeowner: Don’t follow the prospective buyers into each room and stand there. The key is to point them in the direction then let them look. Standing over a buyer makes them feel uneasy and makes them want to hurry on their way. Give a short guided tour and point out anything that can easily be overlooked. Then tell them to feel free to open doors and closets and you’ll be in the yard if they have any questions.

The Never ending Talker: Stop talking! Disclosure is necessary but prospective buyers do not need over explanation of each room and every decision you’ve made. If your appliances are more than 8 years old, there is really no need to point out the fact they may be a „brand name„. They are just old to a buyer. Drawing attention to the name is only drawing attention to their age. If your kitchen and fixtures throughout the home are more than 10 years old…your home is dated. Like it or not, your home is going to need updates from the prospective of most buyers. Although you may be proud of the brass chandelier hanging above the entry, many buyers will be calculating costs to replace it.

The Tattle Tail: No need to point out the potential honey do list you have not had a chance to do. Once, I showed a FSBO home and the owner had hardwood floors. Rather than just pointing out the hardwood, she went into detail of how they can be refinished. Then the buyers realized the floors really could use a refinish and that was more work to do. If it is not a disclosure situation, then do not point out what is so time consuming that you did not even tackle it prior to selling. If the buyer commented about the floor, that would be the opportunity to explain a possible solution.

Know Your STUFF. Know your energy bill averages. Know your neighborhood and amenities; know where parks and schools are located (you may not have children but a prospective buyer could). Know the basics of your home construction (year, energy features, foundation type, and furnace location/type). Know your property lines (if they are not clearly defined or perhaps they extend past what may appear to be the end).

Remove the Sentimental Feelings From You and Your House. Buyers do not care that you paid so much money to paint the dining room green…chances are, they don’t like it and plan to repaint. If you go on in detail about your decisions on what you have done to the home (or the garden you worked so hard to plant on the side yard) buyers feel guilty as they may have plans to turn your hard work into a RV driveway. Point out unique features that may go unnoticed then retreat to the front yard. Wait for them to ask questions and give them a SIMPLE answer. Be welcoming and polite, but they are not here to meet you. Clean out your personal belongings and pictures. It’s hard enough that someone is living there, and that the person who does live there is offering a guided tour…but if on top of that all of your family pictures are everywhere. It will be hard for a buyer to imagine it to be their home.

If you have the phone number, call the next day for follow up. Ask simply „what did you think of THE home (not „MY“ home)?“ Ask how they felt it showed and the pricing as compared to others. Listen to what they say. You may not agree with how they felt but use it as constructive criticism. Remember, this is now business…not personal. Treat it as it is…a transaction. Do not rule out a buyers agent if they would like to sell your home. You will still save money and if it means selling the home faster, it will be in your best interest.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Paula J Smith

12 Ways To Profit From Non-Performing Real Estate Notes

Non-Performing Notes (NPN’s) are an excellent way to invest in Real Estate, without getting dirty, or dealing with toilets, termites, or tenants. It involves buying the defaulted mortgage and promissory note from a bank, hedge fund, or its current owner. Now you are the bank, and no one ever calls the bank if the toilet is clogged, so you can have a restful night and weekend.

The promissory note, or note for short, is a secured debt, attached to the mortgage on the house. Depending on the state, the mortgage might sometimes be called Trust Deed, Contract for Deed, or Land Contract, though they are all instruments used to buy a home. Once the note is paid off, the mortgage & note is marked as paid, and the owner has full title to the property.

However, life throws many problems at us, and for whatever reason, someone stops paying the note off. They could lose their job, spouse, or sadly, their limbs and they don’t have the money to make the payments at this time.

When this happens, the banks for the most part really don’t care, and just want their money past due, now! They are not that good at getting them to repay no matter how hard they try, as you can’t squeeze blood out of a rock. Nor do they want the property back. When they can’t get the homeowner to pay, they want to clear this bad debt off their books. They sell them in bulk by the truckload to equity or hedge funds, which then sell them off by the case or the bottle to investors.

These defaulted and secured notes are available for pennies on the dollar. Ideally the goal would be to try to get them to repay. Getting them repaying is goal #1 goal, though it does not always work that way, so here is a list of 12 exit strategies to profit from them as investors.

Since you now own the note, and are now the bank, you can do whatever you want, and if you are creative, you can come up with many ways to exit.

Here Are 12 Ways To Profit From Non-Performing Real Estate Notes:

1. Repay or Modify The Note

The #1 goal is to help the homeowner stay in their house, and since the new owner paid very little for it compared to the value of the property, they can forgive some of the past due amounts, and still make a nice profit, though only If the homeowner wants to stay. You can lower the unpaid balance, payments, interest, or any combination of the three. After 6-12 trial payments to show good faith, we can modify the loan with any term we want.

2. Assumption Of Note By Someone Else

Since we own the note, we can find a family member or friend of the homeowner who would like to move in, and have them start repaying the monthly payments. If they keep paying, there is no need to modify the terms if it’s mutually agreeable to both parties.

3. Resell The Note For A Profit

Many people are looking for NPN’s, and they can be resold quickly for a higher price to another investor. Sometimes this makes sense to get a small amount upfront vs. spending time and money on a note that be a little too hairy, or you need the funds quickly.

4. Short Sale

If the homeowner has equity, a short sale is a good way to let them exit, and get their equity out. It requires our blessing as the mortgage holder, and a Real Estate Agent who will list it on the MLS. It’s a win-win for both parties.

5. Deed-In-Lieu Of Foreclosure

If the person does not want to stay, the next exit would be to ask them to sign the deed over to you in lieu of foreclosing or a DIL. Many times they will do this if they are upside down, and just don’t want the headache any more. It allows them to „save face,“ exit with dignity, and we will not go after them for any amounts owed over the sale price, as well as not filing a 1099 with the IRS.

6. Cash For Keys

Sometimes they want to leave and they have equity, or are just being stubborn. This is when we offer them cash to leave, and sign the deed over to us. We typically give them a small amount to show good faith, then, give the rest after they leave the place cleaned out, and not damaged. The amount can vary from $500 to $100,000 or more depending if it’s a shotgun shack in the Ozarks vs. a $3 million Manhattan condo.

We saw a note for such a condo, and the person living in it was a retired schoolteacher with rent control, whose monthly payments were less than the taxes and HOA fees & they had no desire to move. The note was being offered for $1.5MM, so even a $500,000 cash for keys would have been a good deal to have a $1MM profit!

7. Foreclosure

Foreclosure is our last resort when all else fails. On a vacant property, we always start foreclosure right away. If the homeowner is still there, and refuses to work with us, we also foreclose. This takes anywhere from 2 months to 4-5 years, depending on the state. We will also pursue a deficiency judgment for any balance owed us over the price we get for selling the property when we have title, and if they are really jerks, we can submit a 1099 to the IRS for that amount.

The last three exits above are the starting point to obtaining title to the property, and also have multiple exits depending on how creative you want to be.

8. Sell As-Is

You can then just sell the property AS-IS to a rehabber or handyman, on your own, or with a Realtor. Advertising on Craigslist or at a local Meet Up is a great way to sell this.

9. Fix & Flip

In this case, you are like a traditional rehabber; you obtain title, fix it up, and sell it to a homeowner or investor as a move-in ready property for more than As-Is.

10. Fix & Rent

You can perform a low cost rehab, using lower quality paint, carpet, and tiles to rent out if there is a shortage of rentals in the area. Though you are now a landlord, and have to deal with the toilets, tenants, termites, roof, hot water, and all the other issues since you own the house.

11. Fix and Sell

This is a great way to create your own paper. You sell the rehabbed property, either As-Is or fixed up to a homeowner, typically for a higher price than selling. Since you are the owner, you can create a note out of thin air, and a mortgage or Land Contract or Contract for Deed that has terms the homeowner can afford and collect the payments, just like the bank for 20-30 years.

12. Fix, Rent, And Sell To An Investor

You can sell a „loaded“ rental to an investor as a turnkey investment, typically for a higher price than a standard fix & flip. One method is 25% to 50% down, and write a seller carryback note that will use the rents to pay the balance off, with a monthly payment that is lower than the rent, so the investor gets some cash flow each month with the difference. This way, the renter pays off much of the cost of the property.

With so many ways to profit from a defaulted real estate note, it’s hard to lose money unless you pay too much for the note. There are no bad notes, just overpaying can get you into trouble.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Christopher Winkler

Real Estate Selling – FSBO – How to Use a Classic Marketing Approach to Sell Your Property Online

When marketing property it can be very effective to combine „tried and true“ methods from the past with cutting-edge methods from the present. All marketing methods and theories must be tested in the marketplace to determine how well they work.

Just within the last 12 months new marketing approaches have sprung up from the internet. Twitter is the most famous example, but there are others. For example, Google changed all its rules on local search engines last summer.

With the rise in blogs, internet directories, online forums and free classified advertising sites there are now literally dozens of websites where property can be advertised for no or little cost. You need to learn about these if you want to effectively market your property on the internet.

However the rise in the prominence of internet marketing does not mean to throw away all that has been learned from the past. Classic marketing methods still work very well, and can often be adapted to the internet.

You can combine classic marketing methods with the latest internet marketing techniques to create a very powerful marketing program for your home or other property. This is true whether you have a Realtor listing or not, because Realtors are not doing these kinds of marketing programs.

Perhaps the most effective technique in internet marketing is what can be called „automatic email marketing.“ This is a way to make automatic the all-important follow-up process which is the key to making sales. If you don’t follow up on leads you won’t make sales, period.

What we have discovered is that the old traditional „two-step“ marketing method works great with the new technology that allows automatic sales lead follow-up. You can use these methods to sell your property. Here is how it would work:

  1. You get an interested buyer to visit your custom home-for-sale website.
  2. You offer something of value if they leave you their name and email address (a prize or gift).
  3. You automatic follow-up system kicks into gear and sends a „thank you“ email to your site visitor.
  4. The follow-up system sends the visitor an email every other day for a while, and later just once per week.
  5. Eventually one of these website visitors buys your property, because after they came to your site you captured their information and followed up with them.

Most people wouldn’t think of combining these two great marketing methods to sell real estate. In fact, I don’t know of anyone else who is doing it. I just know it works. Try it for yourself and see.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Leo J. Vidal

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close