Let Your Mortgage Make You Rich

For several methods of paying your mortgage off early I suggest emailing Lin Ennis at lin@linennis.com and there you will get info on how to shorten the life of a mortgage by as much as 20 years off a 30 year mortgage. I highly recommend her book Let Your Mortgage Make You Rich.

How to Pick a New Construction Home

First thing is to find a viable market to buy a new construction home. Do your research through ofheo.gov and by contacting realtors in that market. On ofheo look for the markets that are coming off previous low appreciation that are now appreciating at 8% or more. Then contact several realtors to find out what is happening in their market as far a growth in the job market or large influx of retirees. These are some of the key indicators of sustainable appreciation. Ask the realtors what is the most popular type of proerty. Is it a condo, or a single family home. Also ask how many days on the market before a property sells and the difference between sold price and list price. In a hot market you will see several sold prices higher than the list price.

Pre-Construction Homes

Some of the best deals can be found in the pre-construction arena. If you pick the right city and the right subdivision you can make huge bucks on a single family home. It's important to get in on the first phase or two of a subdivision. The power is in a small down payment to hold the home while waiting for ground to be broken and the house being built. It can take months for this process and if you pick right your house will appreciate tens of thousands more than your purchase price. It can also stay at the same price you bought it at if you pick the wrong city and subdivision. That's why is't so important to learn how to analyze markets.

Making Money on Your Primary Residence

You can make money on the home you live in by buying low and selling high two years and one day or more later. The gain on this type of sale is tax free up to $250,000 for an individual or $500,000 for a married couple. This is a great way to get ahead if you get a good deal going into the home and can sell for a large profit when you exit.

Real Estate Guru Ranking

If you want to find out information on a famous real estate guru try johntreed.com for opinions of how several gurus performance is rated. This is not the only information you should obtain but should prove to be helpful.

Why Get a Home Warranty

I recommend getting a home warranty protection policy on homes older than 10 years. I always ask that the seller pay for this coverage. It usually costs around $350 depending on the company you buy it from and if you choose add ons like air conditioning or appliance coverage then it can cost up to $450. It covers your new house for one year.

Bandit Signs

Bandit signs are an effective and cheap way to advertise. A bandit sign is a sign that you don't pay someone for the privilege of displaying your message. I use fluorescent colored poster board and cut it into quarters to hang on telephone poles in the vicinity of my rent to own homes. I use the full sized poster board{22x28 inches} on the house itself. These bright colors are great attention getters. In most cities it is illegal to hang your bandit signs on public or private property however if you put them up on Friday afternoon and take them down on Monday morning you usually won't have a problem from the authorities.

Investing Outside of Your IRA

It is possible to invest in real estate using your IRA. This type of investing is known as outside of your IRA real estate investing. This method allows you to use IRA funds to invest in a vacation home that you can use. It also allows you to keep the cashflow from a rental purchased with IRA funds. To find out more go to urangafinancial.com

Magnetic Car Signs

A good way to advertise cheaply is to put " I Buy Houses" car signs on your car. The signs cost about $50-$60 and get a lot of exposure. Be sure and put your cell number or other telephone that you answer the most on the sign.

Realtor Interview Questions pt two

8. How many of your clients are investors?
9. Do you own investment properties? How many? What type of properties? How long? What is the net worth of your real estate portfolio?
10. How are you handling your investments.
11. If Not an Investor: How do you feel about R/E investing?
12. Do you attend R/E investment club/ Chamber of Commerce meetings?
13. What are your top three horror stories and how did you handle them?
14. How available are you.

Realtor Interview Questions pt one

1. Are you passionate about working as a real estate agent
2. What geographical areas are your areas of expertise
3. How long have you been in the area
4. What is you reputation
5. What do you consider to be your best assets
6. Are you a good listener
7. How would you describe your creativity

Using Online Rental Advertising

Advertising your rentals online can be a cost effective way to market your properties. There are many different websites for this out there. Some are just in one market and some cover the whole USA. Some like rentclicks.com even offer a 30 day money back guarantee. Check them out and see which one fits your needs.

Investing in With Your IRA

Many investors are unaware that they can use their IRA to invest in real estate. To find out more I suggest reading IRA Wealth by Patrick Rice.