Dealing in benefits

Dealing in benefits   I was out door knocking recently, and I came across a seller in a precarious position. You see, she was thousands of dollars behind on her mortgage, she was older and the house was too much for her to take care of. Oh, and she was two and half weeks away from being foreclosed on.   When I first knocked on her door, she admitted she…

King me

King me   The other day, I was having some alone time with my 8-year-old, and he wanted to play a game of checkers. As we got the game out, which was one of those nice wooden ones, I noticed that we didn’t have all of the wood playing pieces.   My son looked at me sheepishly and confessed that he had lost some of them. But he told me…

Choosing the right agent

Choosing the right agent   Choosing the right real estate agent is something that’s important when buying — and especially when selling — real estate. This is because agents aren’t one-size-fits-all for every deal. And finding out what an agent is good at, and where they are located will help you determine whether or not you should hire them.   Let me explain.     Not all agents work in…

One-sided

One-sided   This week I got a call from an agent to go look at a potential deal. It was a 5-bedroom/ 3-bath house with over 3,000 square feet located in a very desirable area priced at only $100,000. When you see deals like that, you stop what you are doing and get to the house as soon as humanly possible.   It wasn’t hard to spot which house I…

Meeting of the minds

Meeting of the minds   I’ve recently had an opportunity to relearn how important the meeting of the minds is between buyer, seller and real estate investor, and I’d like to share some of that information with you. The example has to do with being snookered.   It happened while I was on the phone with a seller. We’d met multiple times in person and had always had great interactions….

Investing, family and footprints

Investing, family and footprints   Real estate investing is our family business, and I’m not just talking about Ashley being my partner. Our kids have also been involved their entire lives.   You see, Ashley was closing a short sale and fielding calls while giving birth to our first born. I’m not joking. I have the video to prove it. She was on the phone talking to a seller while…

What is a market inversion?

What is a market inversion?   Are you familiar with the term market inversion? If not, that’s OK. I wasn’t until recently. But as real estate investors, you need to understand what it is, and more importantly, what it means for the current and upcoming real estate market.   First off, let me give a quick overview as to what market inversion is from my understanding, and then I’ll tell…

Do outbuildings go with a property?

Do outbuildings go with a property?   We had something happen for the first time this month that had to do with an outbuilding located at a property we had recently purchased. It was a great learning lesson, and I’d like to share it with you. The sellers of this house where in distress. They had been relocated for work and had listed their house, but they hadn’t sold it…

A reason why agents forget about investors

A reason why agents forget about investors   Ashley and I saw something last month and again this month that we haven’t seen in a long time. While out door knocking on the pre-foreclosures, we saw realtor signs in front of some of the houses being foreclosed on.   This happened a lot after the crash. Sellers would try to list their properties to get out from under a mortgage…

Transactional versus relationship-based deals

Transactional versus relationship-based deals   Real estate deals can be lumped into two basic categories. They are known as transaction-based and relationship-based.   Transaction-based deals are the ones where you really don’t meet anyone in person. You buy these properties in places like auction sites, the MLS and foreclosure auctions. This deal type is attractive because, for the most part, you can buy them from the comfort of your home…