Get Real

Just like every year when we get to the new year we start to look at doing new things in our businesses. On this week's show we are sharing with you 5 things you should focus on when planning to take action and make some money in real estate this year.

Big Changes!!

After a lot of work we have made the decision to change up the format to Get Real this year. We are going to start doing short videos 3 times a week for you to get your real estate investing fix :-) We will no longer be doing the 1 hour show each week. The great news is we are adding 2 hours a month of shows to the real estate investing club and are going to add 100's of hours of video, audio and other educational resources there. Check out the changes at http://getrealrei.com/membership/join-us

Listen to this Episode

Is 2010 going to be the year you break out and make real estate investing your full time business? or at least start making more, consistently? We have put together 3 Things You Need to Know if You are going to make money in real estate in 2010. Listen in as we break down each of these items. Here is a sneak peak...

Buy Bank Owned Foreclosures Learn How to Acquire Private Money/Credit Pounce on the First Time Homebuyer's Tax Credit

Listener Mail

"How should I invest my tax credit money?"

Real Estate News

Zillow has just introduced their new service offering, rental comparables. While everyone wants to know if Zillow is accurate for housing prices millions are still using it and their data gets better every day. We wonder how long it will take for the rental comparables, which is much harder to gather, to be a reliable source of information.

If there was a way to utilize other people's money to fund your deals would you be able to do more deals? Absolutely the only thing that would hold you back is finding people with the funds. I know many people don't have a lot of extra cash lying around but you would be amazed by the number of people with money in their IRA's just dying to get a better return on their investment and jump into this super low priced real estate market.

Todd Senff from Equity Trust a self-directed IRA custodian joined us this week to answer all of your questions and to get you started getting all of the private money you can handle from other people's self-directed IRA's. Todd shared some great information including...

• What is a Real Estate IRA?
• What are the restrictions on doing deals with IRA money
• What type of retirement accounts are self-directable
• Can an IRA take out a mortgage loan?

Listener Mail

"How will updating my HVAC unit and windows increase the sales price of my home" From my DAD :-D

Stocking Stuffer

While they last we have some spots left in our 2009 Stocking Stuffer offer, that means over 20 hours or 16 DVD's worth of real estate investing training for only $99. These are limited though so get yours today and let your family know what a great gift it would be. http://getrealrei.com/stockingstuffer

No matter what type of investing you plan to practice at some point you will need to rely on a quality contractor with integrity. This week on the show we spoke with contractor and investor Chuck Whiteside. Chuck shared some of his experience so that we could find the best way to find a good contractor and how to work with them. Chuck even shared information about when to hire a general contractor and when to go it alone.

Stocking Stuffer

The holiday season is finally here and we have topped any of our past annual stocking stuffers by offering over 20 hours of real estate investing education on video, for only $99. Check out the details at http://bit.ly/4J6Kh2

Listener Mail

"Is it possible to include in a contract with a contractor to hold part of the pay after the job is complete in case there are issues with the work completed?"

iPhone App Extras

Video - Rehab house critique (coming soon)

It's true that there are a ton of great deals out there in the real estate market today. The fact is there aren't as many buyers as there used to be. For the savvy real estate investor that means acquiring properties at great prices today and holding them for long term growth. If you have any rental properties in your portfolio you know how important it is manage the properties and tenants correctly. Mark Walters of MW Properties joins us to help you navigate the property manager selection process and the things to do to keep people in your homes.

Real Estate Investing in the News

• Fannie Mae gets into the rental game
• Update on the Treasury Departments mortgage bailout program

Listener Mail

"What loan modifications are there available for real estate investors and how does it affect your credit?"

Do you have a real estate question? Call 800-878-4982 and leave a message or click here to ask now.

iPhone App Extras

Getting 5 Star Tenants by Greg Gardner (pdf)

On this week's show we are doing something a little different. We are dedicated the entire show to answering your questions and filling you in on some important things going on in the real estate investing industry. Being successful is not just about finding the next great deal but it also includes understanding what is going on in the world around us so we can capitalize on new developments to further our business. This week we are answering questions including...

 

• How do I find a good property manager
• Do owners need to own a home 100% to do creative owner financing
• How to increase rent on a Section 8 property
• What are our cash flow requirements for a rental property

Plus we are keeping you up on new developments in real estate investing including...

• The first time home buyer's tax credit extension
• The new move-up home buyer's tax credit

iPhone App Extras

Google Real Estate Video

The number of bank owned homes has skyrocketed in the last few years. With so much inventory it has become important for banks and corporate owners to come up with alternative methods to selling homes other than just on the MLS. Amy Bates, SVP of Marketing at Williams & Williams Auctions, one of the premier auction companies in the country, shared with us the inside information on how auctions work.

Amy explained the whole process and benefits of buying homes post-foreclosure at the auction including...

• The ability to inspect the property during an open house well before the auction.
• The property has already gone through the foreclosure process and title has been cleared.
• You have 30 days after an accepted offer to close on the property
• Auctions can lead to competitive prices for buyers to pick up good deals.
• With a large reputable firm you have confidence in the purchase process

If you would like more information Williams & Williams auctions visit http://www.williamsauction.com or to watch a real auction live online check out http://www.auctionnetwork.com

Listener Mail

"I need to find affordable insurance for a house I'm buying to rehab and flip, something that will at least cover the structure. How do you guys do it?" - Dave in Toledo

With so many homes headed to foreclosure there are a lot of ways to jump on what has really become a hot pre-foreclosure market especially in areas of the country where housing prices have seen a correction. If you aren't into short sales or working subject-to deals then your next option is public auctions. Tanya Marchiol is an experienced investor and realtor and president and founder of Team Investments, http://teaminvestmentsinc.com who walks us through just what to do to have a positive auction experience including...

 

• How to line up financing before the auction
• How to find auctions and the homes being sold
• How to do your due diligence before the auction
• The "secret sauce" building team members that are pro's at auctions
• How to get the deal closed so you can get started working on turning it to cash!!

Today's Listener Question

"Can you tell me the best way to get a credit check on a tenant?" - Cheryl

iPhone App Bonus Content

Credit and background checks Video

Kris Kirschner

Kris started investing part time as a struggling UPS driver. Amazingly in just 23 minutes he was a bonafide millionaire investing part time. Kris loves to have a system so all of the repetitive work is removed from the buying, making offers and selling process.

On this webinar Kris going to show you...

• 3 ways anyone can buy with no money or credit in this market
• How to make $15,000 part time using an automated system
• How to integrate direct mail and the web to get 30-40 motivated sellers per month
• Get paid on deals even if there appears to be no equity in the property
• How to talk with sellers to close deals that others won't even think about

We had some great response from the live viewers when this webinar aired. Make sure you review this and learn from Kris. If you are just starting out or struggling to get consistent deals and still have time for the things that matter like family and friends I think the light bulb is going to come on for you after checking this out.

Download and watch the Webinar

Download the audio to listen to later

Want more information on Kris' Autopilot system? Click Here Now

Brian Berman

Brian joined us this week to talk about all types of loan programs we can use as investors to get our buyers financed.  The sooner they get money, the sooner we get ours. Brian explained some great programs such as Fannie Mae's Home Path program and many others.  These are great programs for "fragile" buyers and some of these programs may even get us financed too.