2008 February | The Millionaires Blog Wholesaling Advice

Archive for February, 2008:

Real Estate Investing Guide: Wholesaling Real Estate Buyer Qualification

Real estate investing Guide: I am often asked how you can be sure that your buyers for your real estate wholesaling deals have the ability to buy.

Anytime that you take on a new buyer you should obtain a pre-approval letter or a verification of cash funds. A pre-approval is a letter from a lender that tells you that the buyer has had a credit check, and has proven his/her income through provision of W2’s, or previous tax records. If possible, get the buyer to meet with a lender who you know and trust so that you can be sure that the buyer is truly capable of purchasing properties. A verification of cash funds is a bank statement or a letter from the buyer’s bank stating that there is either money in an account or the money is available on a credit line.

Watch out for buyers who offer you a pre-qualification letter. The letter is often not worth the paper that it’s printed on. A pre-qualification letter is based on information that has not actually been verified — usually just on the buyer’s word. A pre-qualification letter is typically provided by a lender prior to actually sitting down with a buyer, so there’s no way of actually knowing whether the buyer is capable of purchasing properties.

Buyers are only as good as their ability to buy. A buyer can have the best intentions, but without substantiated funds, they are of no use to you.

Eric Medemar is a real estate consultant from Grand Rapids, MI. Be sure to check out his FREE real estate investing guide as well as his Highly acclaimed real estate investing courses where he will show you his easy to understand methods for investing in real estate without cash or credit

Real Estate Investing Guide: Pulling Your Investing Trigger

With Hunting Season Right around the corner I thought this would be appropriate. Somewhat of a metaphoric story for those of you interested in Wholesaling Real Estate, Bird Dogging Real Estate, or Any other type of real estate investing

Joe was positive that he would be shooting a deer this year. After all, Joe had been learning about hunting his whole life. His dad had taught him how to track deer, his uncle taught him how to build the best deer blinds known to man. This year Joe was finally going to do it, he would get his big buck, if it was the last thing he ever did.

He had just purchased the super guru rifle 2000 and from what he had heard this gun was the best. People had told him that this gun would practically shoot itself, man this was one heck of a gun. Oh and the four wheeler that Joe would be riding out to his blind was the so quiet and so fast he didnt have a chance of spooking any deer.

It was opening morning of deer season and Joe was ready, boy oh boy Joe was ready. Joe barely slept a wink the night before just thinking about the big buck that he was gonna get. Joe packed up his stuff, grabbed the super guru rifle 2000 and headed off to his blind (riding the best 4 wheeler known to man).

Joe arrived at his blind, and got everything in place. This was Joes day, the big buck would be his. Joe sat for about an hour when he noticed this giant rack coming up over the hill. This was the Buck to end all Bucks. Joe was quivering at the chance just to see a deer like this.

The buck approached, Joe peered through his scope, “Boy this is the one, this is the day” he quietly said to himself”. Joe slowly pulled the trigger…….To be continued

Learn real estate bird Dogging http://www.birddogbiz.com/

Joes buddy Nate had never hunted a day in his life, when it came to hunting “Nate didnt know his butt from a whole in the ground”. Nate had spent alot of time shooting guns with his dad, but had never hunted. Nate decided since his buddy Joe was going hunting that he would too. So Nate asked his dad, who had killed 100′s of deer in his day, if he could take him hunting. Nates dad was more than happy to show him.

It was opening morning, Nates dad had set him a great spot where he had shot dozens of bucks. Out of the corner of his eye Nate saw a huge buck coming up over the ridge. Nate looked at the buck through his scope. “This is the one” he thought to himself as he slowly sqeezed the trigger. The rifle let out a huge boom, and not 10 minutes later Nate was proudly posing for a picture next to his prized buck.

back to Joe………….Joe slowly pulled the trigger, and nothing happened. The buck was gone……………Joe had it all, the super guru 2000 gun, the best 4 wheeler known to man, and the hunting skills of a puma. “How could I have failed” Joe thought to himself, it was then he realized that in all of his time getting ready for the hunt, nobody ever taught him how to pull the trigger.

Thats the funny part about guns, you can have the best gun in the world, but if you don’t know how to pull the trigger, you’ll never get the deer.

Later Nate and Joe were talking about Nates huge buck and Joe said to him “Nate I thought you have never hunted before, how on earth did you shoot that big boy”

Nate replied “I never have hunted, but my dad has, I asked him where to go, then all I had to do was pull the trigger.”

Are you a Joe?

Are you a Nate?

If you would like to go from a Joe to a Nate feel free to contact me here.

www.UltimateWholesalingSystem.com

Eric Medemar specializes in Wholesaling real estate, flipping real estate, and investment properties including Grand Rapids Foreclosures, Grand Rapids Rental Property, and Grand Rapids HUD homes.

Real Estate Investing Guide: Wholesaling Real Estate for $24,000 an Hours

I cannot even express to you what a powerful wealth builder real estate is and will continue to be. Here is just one reason why I love Wholesaling Real Estate

So i’m out cruising around in the convertible on a gorgeous day, and I get a call from a realtor that I know about a property that hadnt yet hit the market. I tour the home for 5 minutes, then call me assistant to put together the contract. The next day I make a couple of phone calls to my buyers list. Then 2 days later I put it under contract with a buyer in “as is condtion” for a $8,000 profit. I will ad him to the deed since the contract is non assignable, then at closing I will deed myself off. All in all I have 20 mins into the deal, and $8,000 to show for it.

If you would like to find out how to do deals like these check out The Ultimate Real Estate Wholesaling System http://www.theforeclosurecollege.com/

Eric Medemar specializes in Wholesaling real estate, flipping real estate, and investment properties including Grand Rapids Foreclosures, Grand Rapids Rental Property, and Grand Rapids HUD homes.

Eric Medemar is a real estate consultant from Grand Rapids, MI. Be sure to check out his FREE real estate investing guide as well as his Highly acclaimed real estate investing course where he will show you his easy to understand methods for investing in real estate without cash or credit.

Real Estate Investing Guide: Is Wholesaling Real Estate Illegal?

Is real estate wholesaling illegal? I have heard this question asked dozens of time by new real estate investors from across the United States and my answer is always absolutely not! Many people mistakenly put wholesaling in the same category with the property flipping scams that are now heavily publicized by the media. Illegal property flipping and real estate wholesaling have nothing in common.

Illegal property flipping is a result of buyers paying over inflated amounts for a piece of real estate. Then they either getting a large amount of cash back at closing or they are working hand in hand with the sellers who then pays them off in exchange for buying the piece of property at an over inflated price. The buyer is essentially sacrificing his or her credit in exchange for cash. This over inflation is a result of the market value of a home being far less than what a crooked appraiser can pull sold listings for.

Real estate wholesaling on the other hand is a completely legal activity. Most wholesaling transaction involve either selling a contract to another investor, or buying the home and immediately selling it to another investor at a discount.

Unlike illegal property flipping with real estate wholesaling nobody is getting hurt. Wholesaling presents the perfect win-win scenario for all parties that are involved with the transaction. The buyer is happy because they are getting a great deal on a piece of real estate and the wholesaler is happy because they are making a $5,000-$10,000 fee for their services.

Get your FREE 8 Page Report “6 Steps To wholesaling Success” by clicking this link real estate wholesaling Report

Eric Medemar is a real estate consultant from Grand Rapids, MI. Be sure to check out his FREE real estate investing guide as well as his Highly acclaimed real estate investing course where he will show you his easy to understand methods for investing in real estate without cash or credit

Real Estate Investing Guide: Are You Making Elephant Sized Wholesaling Mistakes

The other night I was flipping channels when I stumbled upon a special about elephants. A researcher had been following a group of elephants for the past 15 years and was documenting his findings. Though I am not by any means an avid elephant fan, I found the show very enjoyable.

One of the elephants that he had been researching had just passed away at the tender age of 62. He said that when an elephant dies all of the history and knowledge that the elephant had acquired over their lifetime dies with them. The thought when left alone seems rather elementary. However when I thought about it on a deeper level, it brought to mind how lucky we are to have written communication.

When the old elephant passed away all of his secret feeding spots, watering holes and travel paths went away with him. Sure, the younger elephants were able to learn from the older elephants as they grew up, but I am sure many elephant secrets have been lost over the years. As humans we are extremely lucky to have written communication. Written communication allows us to avoid making the same mistakes that our ancestors made. Written communication also give us the ability to avoid having to reinvent the wheel when we want to accomplish something new with our lives.

Having said that, it puzzles me to no end why people insist on “doing it there way” or worse yet not doing things at all because they “don’t know how”. With the endless amount of information available in the world there is no excuse not to be living the lives of our dreams. No matter who you are, where your from or what your current life circumstances are, there is someone who has overcame far more than you, and achieved much more than you, and they have written down exactly how they did it. They have left their secret paths for you to follow.

It does not matter how broke you are even if your living on the streets you can go to the library and read about how other people have overcome situations similar to yours. Unlike the elephants successful humans leave there secrets behind for you to follow, you just need to follow them.

If your a new real estate wholesaler you don’t need to make the same mistakes that cost me thousands of dollars. I have written down all of my mistakes and how to avoid them in my Ultimate Real Estate Wholesaling System available at http://www.ultimatewholesalingsystem.com/

You can see more of my articles at http://www.themillionaireuniversity.com/ real estate investing forums

Check out my real estate investing sytems at:
www.UltimateWholesalingsystem.com- the only real estate wholesaling system you will ever need.
www.BirdDogBiz.com- A great real estate bird dog system that allow you to earn while you learn investing.
www.Investorslunch.com – an introduction to wholesaling real estate
www.birddogslunch.com – an introduction to becoming a real estate bird dog.
Plus I am a contributing member of the real estate investing forums at www.Themillionaireuniversity.com

Investing in real estate: Cures For the 9 Most Common Real Estate Problems

Why are you staying away from the biggest wealth builder that has ever existed? Real estate is and always will be the largest wealth builder in the world. The problem for most people is being able to afford entry into the real estate game.Then the gurus come along offering you the magic answer to all of your real estate problems. Anybody who has stayed up after 11:00 has seen the endless Carleton Sheets, or Russ Whitney real estate programs. These programs do have there place and have helped many people learn about real estate but they have also helped many more people lose thousands of dollars.

Lets not even get into the thousands of books out there all claiming the magic answer to your real estate problems. Don’t get me wrong books are great but often times they leave you hanging with many unanswered questions about your real estate dreams.

Then there is real estate coaching. Coaching has its place as well but usually costs between $1,000 to $30,000. The interesting thing is that the low cost real estate coaching services are often using non investors as coaches. Essentially they are only booksmart coaches, preaching at you what they have read in some guide to coaching and your paying them $200+ hr to hear their crap.

I don’t know how many of you reading this would like to get involved in the real estate game but if you do, I have put together a package for you that will blow the doors off of ANY real estate program out there.

I have put together a small checklist of reasons why you have not lived up to your real estate potential:

1. No Real Estate Investing Confidence-Books and courses have left you hanging, they have left you knowing what to do, but not doing what you know.

2. No Real Estate Support-If you did get going in the real estate game and had a question, then who do you ask? Your book or course, I think not. Not knowing what to do when a question comes up about a transaction has left you frozen doing nothing.

3. No Real Estate Investing Business Plan- If you are looking to make it in any business and you don’t have a plan in place then you are bound to fail. I’m sure the problem for most of you is not only do you not know how to make a business plan but you also don’t even know what you would put in your plan if you had one!

4. No Real Estate Investing Goals-About 1% of the populaton has written goals for their life. Trying to succeed without goals is like trying to put together a puzzle without a picture to look at. Sure it can be done, but will take far longer than necessary.

5. Nobody Else Has Confidence In You- You tell your spouse and your family that you want to be a real estate investor and they look at you like your crazy. Of course they will, you don’t have anything besides a crazy idea says that you will make it.

Do any of these problems describe why you have not made it in real estate? Perhaps your a seasoned investor already, and have made it past the first problems. Well I have a checklist for you to.

6. No Real Estate Web Site-You would have to be crazy not to have a website for your real estate business. The problem is that websites are expensive, I have seen the top real estate website templates online for $4,000+ dollars plus over $60/mo for hosting. Those are just templates, a custom site can run you upwards of $10,000 and hosting as much as $150/mo. Even if you paid $10,000 for a website, it would still pay off in the long run, but you don’t have to.

7. No Toll Free Number-A toll free number can be extremely valuable to getting more leads brought into your business. Toll free numbers also capture callers phone numbers even if they are blocked. Call tracking is one valuable tool for any real estate business. Take a look at the BIG real estate businesses, they all have toll free numbers, that should say something about the power of toll free numbers. If you want to make big dog dollars, then do what the big dogs do. Toll free numbers can cost anywhere from $30-$150/mo, but are well worth it.

8. No BRANDED Toll Free Number-If you have already bit the bullet and purchased a toll free number, the next step is to get a branded toll free number. Branded phone numbers often called vanity numbers use memorable and marketable words to enhance consumer recall of your phone number. Branded numbers, are numbers that spell something that a consumer can remember eisier than just numbers. Many of you use bandit signs, the problem is people cant write down your number when they are driving by. A good branded number can be seen once, then remembered later because of using words not numbers. Studies indicate that Branded phone numbers are 14 times eisier to remember than numbers. The problem is good branded numbers are expensive, and hard to find. If you go to ebay and check out price for vanity numbers they cost from $300-$20,000.

9. No Peer Groups To Bounce Questions Off-If you are a successful investor, it is hard to find other successful investors in your own market place that will share tips and advice with you. Other successful investors don’t want you to know what they are doing because they are afraid that you will do it. To get around this problem it is important to network with people outside of your market who don’t mind sharing because you are not their competition (there in New York your in Florida).

Those are just a few of the problems facing investors today. If you would like a inexpensive solution to each of those problems the Real Estate Business In A Box is for you.(by inexpensive I mean dirt cheap) There is only one program allowed per zip code or area. Once your area is gone, then your on your own. I guarantee you will be blown away.

Wholesaling Real Estate: Is Wholesaling Real Estate For You

Real estate wholesaling is without a doubt the lowest risk, and highest paying way to invest in real estate.

Real Estate Wholesaling Is For You If:

You dont’ like the risk associated with traditional real estate wholesaling- Traditional investing methods involve owning a piece of property and hoping that it increases in value. Meanwhile your losing sleep because of a plummeting real estate market, or you have to deal with pain in the a$$ tenants.
You don’t have piles of cash to invest or no cash at all-Many of you want to become investors because you want money, not because you already have money. Traditional investing is next to impossible without money….Not real estate wholesaling though!
You live in an area where housing prices are flat or falling quickly-Since real estate wholesaling does not require you to buy anything…..You can easily make stress free income, in any real estate market.
You don’t have credit, or you have bruised credit!-Just because life has handed you some tough luck, doesn’t mean that you should be banned from real estate investing forever….Real estate wholesaling requires no credit.
You have no experience as a real estate investor-Real estate wholesaling is the perfect way to break into the real estate investing business. Since wholesaling is a risk free, and requires no cash and no credit, there are no barriers between you and the success that you deserve.
You could use an extra $5,000-$30,000 a month-Wholesaling real estate is without a doubt the highest paying and lowest risk way to get started as a real estate investor….Real estate wholesaling truly allows you to write your own paycheck.
You would like more time to spend doing the things you love-Real estate wholesaling provides you with full time pay, for doing part time work. Does it get any better than that!….No risk, full time pay for part time work, no credit needed, and no cash needed….need I say more?
You like the thought of real estate investing, but hate the thought of tenants-Right now I have over 35 rentals, let me tell you unless you have a “turn excuses into dollar bills converter” I would suggest wholesaling any day over being a landlord!
You hate the traditional 9-5, lever pulling, a$$ kissing, sucking up thing….that some people call a job!-Okay this one is my hot button…..I don’t know about you….But, God did not put me on this earth to trade my time, my esteem, and healthy years slaving away doing something I don’t enjoy.
You aren’t the smartest guy in the world-I have to admit this is one of the reasons that I enjoy real estate wholesaling so much. I am not that smart, but I can make alot of money as a real estate wholesaler.