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real-estate-deals

Real Estate Deals

Can Cherry Picking Hurt Your Real Estate Business?

by J. Lamar Ferren | October 10, 2009

Cherry Picking

In basketball, the player that stands by the net the entire game and takes the easy shots is considered a cherry picker. This is frowned upon because they want you to be more engaged in the game. They want you to sweat and push your self so hard to earn each and every point. Not take the easy way out and cherry pick all day.

That’s not how you play the game, right?… Or is it?

Let’s get right to the purpose of this post. Because I’m not here to talk about going in the field and picking cherries and I’m not here to talk about the game of basketball.

I’m here to talk about the game of real estate and whether the concept of cherry picking in real estate can help or hurt your business. I’m also going to let you in on why I don’t follow the “first come, first serve” rule in my business and why you shouldn’t either.

But first, let’s start this off the right way…

What the heck is Cherry Picking When It Comes to Real Estate?

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Real Estate Deals

How To Make More Money, Even After Closing Your Deals

by J. Lamar Ferren | September 26, 2009

Cash after closingWhen you close a deal and make a profit, are you able to make even more money afterwards . . . from the same deal?

First off, let me make it very clear that this is not about raising the rent or increasing the value of your home – or anything like that.

While doing things like that can increase your income, what I want to talk to you about today deals with marketing. When you close on a deal, your relationship with the buyer/seller/investor doesn’t have to stop there.

And the best part is, as you close more deals and do what I’m about to suggest to you, you’ll see growth in your business.

Let’s get started…

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Real Estate Investing

Why Appealing to People This Way Will Help You Close More Deals…

by Jason Hanson | September 9, 2009

Do you want to increase your closing percentage when you talk to sellers? Well, if so, pay attention because you’re about to learn the secret to one of the most important reasons people decide to buy and sell houses.

Let me start off with an example. This is a personal example, but it proves the point beautifully. My mother died of cancer and before her death we used Hospice. The other day I got a letter in the mail from Hospice asking for a donation to the program.

It was a brilliantly written letter which talked about a family with cancer and how Hospice had helped the mother of the family live out her last days in comfort. The letter pulled on the heart strings and touched on almost every emotion.

This was obviously the perfect letter to send to someone like me, being that I could emotionally relate. (No, I didn’t donate any money. I donate 10% of my income to other causes).

The big lesson…

So what’s the big lesson from this letter? If you want to close more deals and be more successful as a real estate investor you must appeal to people’s emotions. Human beings are not logical (especially one of the sexes, I’ll let you guess which one).

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Real Estate Wholesaling

Property Wholesalers – Know Thy Market!

by Stephani Davis | August 27, 2009

One of the questions that I get asked most frequently from aspiring wholesalers is, “How do I know how much to offer on a property?”

Just use the magic Wholesaler Formula, right?

Most people are looking for a magic formula that you can just plug a few numbers into, and out will pop the correct answer..

While there are formulas that you can use as a guide to arrive at your offer amount, there is no cookie-cutter formula that will apply to all markets and all neighborhoods across the board.  In some areas you might be able to get away with contracting deals at 65-70% of market value  and wholesaling them for a profit, but in markets like mine (Tampa), you are going to need to be much lower.

Great Deals Differ from Market to Market

If you want to be a successful wholesaler, you need to hit the streets and find out what constitutes a good deal in YOUR market.  This takes quite a bit of time and effort, but it is something that you need to do if you want to start contracting deals and getting them to the closing table.

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Real Estate Investing

Starting Out in Real Estate Investing: Who Can You Trust?

by Jim Watkins | December 9, 2008

Looking back on when I started out in this business, I admit that I got lucky. Too many times I have heard about someone new who got involved with someone who used them or worse, stole from them. Sadly, it happens. Someone see’s an infomercial and decides to get into real estate investing. Then they [...]

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Real Estate Investing

9 Documents Needed For Your Tenant/Buyer

by Jason Hanson | September 4, 2008

So I see one of my friends that I haven’t seen in a while when I was in Florida, and she tells me I look disgustingly skinny (basically, she calls me a hideous freak). Well, I tell her that I’m training for a marathon, so I’m sure that has something to do with it. And [...]

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Real Estate Investing

How To Close More Deals Instantly . . . The Power Of “Yes”

by Jason Hanson | July 2, 2008

I’m in sunny Florida for the next two weeks on business/pleasure (of course there is always business in there for the tax deductions from our favorite Uncle.)
As I was getting my rental car at the airport, the guy at the counter asked me if I wanted the ultimate coverage insurance or the collision only. [...]

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Real Estate Tips

Sex and Food Are The Way To A Man’s Heart, But Are They The Way To a Seller’s Heart?

by Jason Hanson | June 11, 2008

I’ve got good news and I’ve got bad news. The good news is that food is the way to a seller’s heart and the bad news is that sex isn’t (sorry fellas).
One of the strategies that I always use when meeting with a seller is to bring them food. I usually end up bringing some [...]

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Real Estate

Breaking Down the HUD-1 Settlement Statement

by Joshua M. Marks, Esq. | May 27, 2008

The Settlement Statement, often referred to as the “HUD-1”, is a document that contains a detailed breakdown of the closing costs apportioned between the buyer and seller of property.
Typically, the closing agent (often a representative from the title company), gathers the pertinent information, completes the Settlement Statement and disperses the required funds once the buyer [...]

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Commentary

Under Analysis…the Latest from the Real Estate Investment Style of Investorino

by Milton B. Yates | April 15, 2008

If I could just take a few moments and vent about my frustrations with real estate investors who do not follow formulas and do not stick with systems. Sheesh! If it isn’t one bad deal working it’s three bad deals working. Are times that bad that you have to reach for a [...]

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Real Estate Investing

Why Do You Think It Is So Hard to Win the Championship Twice?

by Milton B. Yates | April 7, 2008

I do believe that it is human nature to celebrate a championship victory as if it were out of character for us. In real estate investing, the championship is EVERY HOME RUN DEAL. Some investors never see a home run but have lots of hits and lots of RBI’s which is fantastic as [...]

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Commentary

Texas: The Next Real Estate Boom?

by Jim Watkins | April 4, 2008

During a class I was teaching in 2005, one of the students asked why all the “idiot” California investors were flocking into town and buying newly constructed houses for as much as $0.90 cents on the dollar? His question drew some laughs from others in the room and they also wondered why they would [...]

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Investor Interviews

Meet the Investor: Interview with Real Estate Investor, Christian Malesic

by Joshua Dorkin | March 28, 2008

We’ve got a wonderful interview for everyone today! Christian Malesic is a relatively new member to BiggerPockets, but in that short time, has given quite a bit of himself to help others out! His knowledge, enthusiasm, and energy is captivating, and I thought we ought to find out more about the man. [...]

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Learn Real Estate

Small Target Areas and Huge Profits for Your Real Estate Investing Business in DC, Maryland, Virginia, Dallas or Anywhere

by Milton B. Yates | February 17, 2008

There are quite a few real estate investors, both beginner and veteran, that fail to understand the true benefits of soliciting sellers in small target areas. In fact, some investors aren’t exactly sure how to determine what areas to target. Here are some quick ideas for target area choices:

We can assume that a [...]

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Real Estate Investing

You Can’t “Trick the Deal”

by Richard Warren | November 27, 2007

I was having a conversation with someone that had absolutely nothing to do with investing. The conversation was about a different business but he was talking about how difficult it was to work with people who were always trying to cut corners. People often think that they know better than the experts do, [...]

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