Real Estate Investing
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
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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When you close a deal and make a profit, are you able to make even more money afterwards . . . from the same deal?
Joshua Dorkin
Charles Feldman
Ted Karsch.
Under Analysis…the Latest from the Real Estate Investment Style of Investorino
by Milton B. Yates | April 15, 2008If 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 [...]