Social Media
by Richard Warren
| October 5, 2009
Are you hiding behind your computer or are you out there? Lately there have been a number of articles touting the benefits of social networking sites such as Facebook, Twitter and, yes, BiggerPockets. While those sites can be a great benefit to your business, they are no substitute for being ‘out there.’
I’ve written articles before touting the benefits of networking (article) but thought that it was time to revisit the subject. The holiday season is fast approaching and that will give you many opportunities to network. However, many people view networking as a chore, but it doesn’t have to be.
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Real Estate
by Richard Warren
| September 28, 2009
Any real estate investor knows that having a strong real estate team is an essential part of the business. You need your attorney, accountant, title officer, lender and real estate agent. The last two are probably the most important. Today we’ll talk about selecting an agent.
In a city or a large town it’s fairly easy. You probably have hundreds of agents to choose from and you just keep going until you select one that meets your needs. Choosing someone to work with in a very small town is a horse of a different color. You may need to choose from a very small number and it’s possible that none of them will seem to fit the bill. I was recently faced with having to make that choice myself when it was time to list a property.
Defining the Parameters
Most of my properties are in the small mining town of Ely in northeastern Nevada. It is actually a very good real estate market with a strong demand for rentals. When I first started rehabbing there several years ago I had the opportunity to work with a truly outstanding agent. She knew the market and understood rehabbing and investment. Unfortunately after watching me make a lot more money than she did, she decided to go into rehabbing with her contractor husband and she left the business.
When she left I started working with the first agent’s associate. That worked out well until that agent left the area because of her husband’s job transfer. It was back to the drawing board for me. I defined what I was looking for in an agent and began my search.
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Las Vegas: Record Sales & Dwindling Supply – So Why Are Prices Still Falling?
by Richard Warren | September 14, 2009For months now I’ve been hearing about how brisk sales have been, especially in the REO, or foreclosure, market. Looking at the numbers you will see that the available supply has been steadily trending down and sales have been setting all-time records. A bank puts an REO on the market and within days there are multiple offers on the property. So why are prices still falling?
On The Street
One realtor that I know specializes in these REO properties. What he sees are a lot of cash buyers from other areas stepping in. That would seem to mean that investors are seeing the value while local buyers are still gun-shy. Are they missing a golden opportunity?