Wednesday, February 08, 2006

4 Simple Ways to Make Money in Real Estate Quickly

4 SIMPLE WAYS TO MAKE MONEY IN REAL ESTATE QUICKLY

THE BIGGEST SECRET IN REAL ESTATE IS TIME. Given enough time, almost all real estate will rise in value. But suppose a BWB (Beginning Wealth Builder) is impatient. How can he/she earn money in real estate faster? Here are 4 ways:
1. Work with “post-auction” foreclosures; don’t buy at auction.
2. Flip properties instead of holding them for rental income.
3. Use options to control real estate until you sell it.
4. Buy tax liens with the hope of a big payday at a later date.

“POST-AUCTION: FORECLOSURES are properties you buy AFTER the auction ends. These properties:
· Were passed over by the auction attendees.
· May not be as attractive as other properties.
· Could need repairs or cosmetic spruce-up.
· BUT CAN OFTEN BE BOUGHT FOR $100 DOWN!
· You help the seller (usually a bank) get the property off its books. So they sell at low cost, and will often pay the closing costs for you, just to help you out.

FLIPPING PROPERTIES GIVES YOU IMMEDIATE INCOME from real estate. You flip a property by:
1. Buying at low cost.
2. Making needed repairs.
3. Selling quickly at a profit.
4. Using your knowledge of what will sell in the area to choose properties that will “move” fast.

AN OPTION IS A LEGAL DOCUMENT PREPARED by an attorney that allows you to control a property for a stated period of time—30, 60, 90 days, etc. During this time you can:
1. Buy the property at a stated price.
2. Sell the property to a buyer of your choice at any price.
3. Lease the property to a person or firm.
4. Control a property at low cost—as little as $100.
5. Profit in a big way by selling quickly at a high price.

TAX LIEN CERTIFICATES give you control of a property at low cost.
And if the owner does not pay you off, plus interest, the property can revert to you. Again, you get control quickly, and you can profit handsomely.

Go to my website, www.iwsmoney.com, to find many resources that will help you earn more money in real estate, more quickly. And you can call me at 516-766-5850, day or night, for answers to your questions about these resources.

Tyler G. Hicks

1 comment:

Darin Garman, CCIM said...

Nice update for everyone, Tyler. I agree and it all comes down to taking action.


Sometimes I see folks get trapped in the “what if” mode - especially when looking at investment real estate. They’re not sure how to succeed in commercial real estate.

For starters, it makes sense to gather as much information as you can and analyze this information before doing anything - no question about that. As a matter of fact there are many people that DO NOT do enough of this.

However, after some have the required information to make a decision - they still pull the “what if” card - to their detriment.

What if the ecomony goes to hell?

What if the tenant trashes the place?

What if interest rates go up?

What if the owner is lying about…..?

Etc.

You have got to have the energy to get beyond these kinds of what ifs. If you do not and, Yes, stick you neck out there, you will look back on what you did not do with more regret that what you probably did do.

Especially when it comes to investment real estate.

If I had a dollar for everytime I heard “Should have bought that property” I would be Bill Gates neighbor on the Forbes 400 list.

Don’t get too analytical. Too anal. This will hold your wealth back almost more than anything else.

Best.
Darin Garman, CCIM
Apartment And Investment Property Specialist

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