Taking your real estate investment business to the next level means going into territory you haven’t gone before to reap rewards you haven’t yet obtained. I know a lot of people who do the same types of deals they did when they first started in real estate investing. Now there’s nothing wrong with doing that if you’re content with what you’ve got. But if you’re looking for something more, you’ve got to take on greater investment opportunities. Here’s how to do just that.Tip #1: Go After Bigger FishI got into real estate investing because I wanted to make some serious cash. I was sick and tired of struggling financially and I hated coming home tired every night. Well, I found real estate. I started doing some single family deals but after awhile, I found that I was still as broke as I was when I first started. I needed cash flow and I needed it fast. Go after bigger fish. Commercial property investment deals offer some of the greatest cash flow and returns for an investment dollar. The number of units and the size of the properties brought the largest returns for the amount of time and money I had invested in any deal.Tip #2: Continually Educate YourselfTo get to the next level in your real estate career, you must continually educate yourself. Education enables you to find solutions to any challenges that may come up when you’re doing deals. Education also helps to eliminate unnecessary risk. Unfortunately, many investors believe that their lack of knowledge prevents them from doing the tougher types of deals like commercial properties. That couldn’t be farther from the truth. You must continually educate yourself. Read books. Attend seminars and don’t hesitate to ask questions.Tip #3: Get a MentorA good mentor helps you gain practical experience much quicker and more easily compared to books and courses. Mentors help you navigate deals and overcome any show stopping challenges that may arise. Mentors are your safety net in areas where you don’t know where you’re headed. If you’re serious about taking your real estate investments to the next level, a mentor will help you get there quicker and with much less risk than if you were to do it alone.Tip #4: Utilize a Team of ExpertsThere are many people who shun the idea of new investors taking on the risk of large, complicated projects like commercial real estate investments. They’re right. Commercial property investing is not for inexperienced investors or for do-it-yourselfers, but here’s the idea – let the experts be experts. Your team of experts works to eliminate the risk of your inexperience and lack of knowledge. You can get to the next level in your real estate investment career when you have the expertise of people who already know how to navigate their way through a deal.Tip #5: Develop Marketing SkillsAny business will fail unless it’s marketed. Taking your real estate business to the next level means you must develop your marketing skills by putting them into action. For example, I started marketing my business using direct mail. At the time, I believed that it was the only thing I could do. As I started to get responses, I started networking myself at places like local real estate investment clubs and with bankers. Basically, I took one marketing strategy, learned it, and honed it until it produced a reward for me. Then I started working other forms of marketing. Your business is going to go to the next level when you start learning about and working more marketing strategies.Tip #6: Have a Can-Do AttitudeAttitude makes all the difference. A person who thinks that they can’t do a deal that will take their business to the next level has already shot himself in the foot. Without even trying, he’s already doomed to failure. Conversely, a person who is hungry enough for success will attain it simply because he hasn’t given up.No matter where you are in your real estate career, these tips will help you get to the next level. Commercial real estate is the right vehicle that provides some of the greatest cash flows in the industry. When you combine education, expertise, marketing, and the right attitude, you’ve got the makings for attaining greater investments and receiving better cash flow deals. The next step is to take action.Discover how you can start investing in real estate from someone who started investing in real estate while renting a one-bedroom apartment to being the owner of more than 7,500 units spread out across the beautiful US.I bet you would like to know how I manage all my properties? Want to know how to start investing in real estate with little money? Like I said I started at the bottom and I am very thankful to be where I am today. If I did not have the knowledge and the help I am not sure where I might be now. Let me show you how I manage all my 7,500+ units so that you can do what you want, with whom you want…however you want!
How To Find Real Estate in MD, DC & VA For 50% Off!
Real Estate for .50 cents on the dollar.With the sub prime market being absolutely unpredictable, investors can not depend on their buyers to come through with loans. Try this little technique of acquiring property. It will help you to survive as a Real Estate Investor in Maryland, DC and Virginia.Stop looking online and finding REO (bank-owned) properties to buy. Find an agent and tell them you want to make about 30 offers a month on REOs that have been listed for 180 days or more. Tell the agent to make the offers at 50% of the listing price and make them contingent upon inspection. Each time the bank asks for a counter, send the offer back $5000 less. Of course, all of the offers won’t be accepted, but if you can get two or so accepted out of 30+, you have hit the jackpot. All you need to do is fund the deals using cash, private money, hard money or other sources. Agents are not super-busy right now, so they will jump all over this idea.The reason this technique is going to help you survive as a real estate investor is you don’t have to count on traditional loans that aren’t dependable right now. Just find a hard money lender. They are listed right in the yellow pages. Most will lend on properties that are 70% below market minus repairs. This method leaves enough of a spread to add any repairs right into your loan. Many hard money lenders don’t even care about your credit rating, they decide whether to loan you the money based on the deal. Don’t let the cost of money discourage you from using hard money lenders. The availability of money is more valuable than the cost. Look at your bottom line after the deal is done. Acquiring half priced real estate, will ensure your survival as a Real Estate Investor!
Why Is Professional Indemnity Insurance Important for For Real Estate Agents?
There can be times when people aren’t really satisfied with the result of something that they have greatly invested. And as a result, they feel the need to complain to get compensated with all the efforts, time and money lost. This usually happens in the real estate industry.In the property industry, real estate agents are highly prone to civil liability claims made by clients who believe that a transaction with the agents’ business had led them to damages or losses. The allegations usually state breach of contract, breach of duty of care, misrepresentation, poor property management, and the breach of statutory provisions in various laws.In a simpler language, clients are unhappy with the results of dealing with the agents, and therefore, they need to be compensated. Naturally, the disappointments that clients complain about and bring to legal authorities can detrimentally impact the business of real estate agents.While some of these claims may be completely separate from the established responsibilities agents were supposed to uphold, and the final outcome of the legal proceeding may not require the business to provide compensation, the process per se can easily deplete the financial pool of the property business but that is if the real estate agent does not have professional indemnity insurance. If you’re an agent and you want to protect yourself and your business from the usual risks involved in delivering clients’ requirements and you acknowledge that, despite your best efforts, mistakes can happen for you have no absolute control over how the provision will pan out, professional indemnity insurance should definitely be one of your investments.Legal actions easily take a toll on the operations and income of any agent; professional indemnity insurance, however, will ensure that the expenses of legal proceedings such as the costs of defence, including investigation and court costs, as well as any damages or compensation the other party will demand to be paid are covered.Therefore, the business’s operational budget can be protected from the cash outflow created by the lawsuit. In certain parts of the country, it’s mandatory for property agents to have professional indemnity insurance; agents in some places are actually required this insurance. The minimum for other states may be lower, but if you want to get the appropriate one for your real estate operations, get the help of a broker who will study your business, identify what your insurance needs are, and direct you toward the most suitable policy options. Get more information on this here.