On this podcast episode I talk about the pros and cons of Wholesaling, compared to Fixing and Flipping and Landlording. If you are a beginner then wholesaling is the easiest and best place to start out since it involves very little money, does not require credit and has no risk. Fixing and Flipping requires more money, borrowing hard money and has much more risk but also much higher profit potential. And buying rental properties provides you with passive income and positive cash flow - but you have to deal with tenants. Listen to this podcast to find out the pros and cons of wholesaling, fixing and flipping and landlording. If you are brand new to real estate and want to learn more about how to wholesale real estate and flip houses then please register for the free wholesaling real estate and flipping houses training at this link below: https://www.lexlevinrad.com/webinar If you want to learn how to fix and flip I have a fixing and flipping training at this link: https://www.lexlevinrad.com/fixandflipwebinar PLEASE SHARE AND LIKE THIS VIDEO DON'T FORGET TO SUBSCRIBE TO MY PODCAST CONNECT WITH ME ONLINE: http://www.lexlevinrad.com http://www.facebook.com/lexlevinradrealestate http://www.twitter.com/lexlevinrad http://www.instagram.com/lexlevinrad http://www.linkedin.com/in/lexlevinrad http://www.pinterest.com/lexlevinrad https://plus.google.com/+LexLevinradrealestate DOWNLOAD A FREE COPY OF MY BOOK ON WHOLESALING HOUSES Download my best selling book "Wholesaling Bank Owned Properties" at https://www.lexlevinrad.com

On this podcast episode, I talk about how new real estate investors have a tendency to focus on the wrong things. Many real estate programs tell new investors to start out by setting up their LLC's, opening checking accounts and setting up their website and business cards. As a new real estate investor, the only thing you should be focusing on is making money. The most important thing as a new real estate investor is to focus on action steps that will make you money. Any items that will not make money should not be your focus since the longer it takes you to make money the more likely you are going to want to quit. When you wholesale your first house and deposit that check in your bank account is when you realize that this business of wholesaling is real. Until that moment of making money, it is all theoretical. It is something that other people are doing. It is something you heard at a seminar or on a podcast. But when that check gets deposited into your bank account. When you can pay down your credit card debt, then that is when you realize how real it is. Once you make money flipping your first house, after you deposit that check is when you begin to realize how you can replicate the action steps that you took to make money. At that point, all you have to do is do the same action steps over and over again. And when you come to that realization, and you start making real money, then it won't be too long before you start thinking about quitting your job and focusing on real estate full time. The key point is to focus on action steps that will make you money. Enjoy the podcast!

On this podcast episode, I discuss buying real estate with other people's money and how you should be using private lender's to fund your real estate deals. I give you examples, including the first house that I purchased with no money down, and how that deal was structured. We discuss the advantages of borrowed money and why the leverage of tapping into other people's money is crucial to increasing your returns. Make sure you take note of the advice that I give at the end of the podcast of what to say when you are sitting down with a potential private lender. Enjoy the podcast

On this podcast episode I discuss bidding on online auction sites like Hubzu, Auction and Xome.

Online auction sites that list bank owned properties (REO's), and short sales are an excellent resource to find good deals at wholesale prices. Many of these deals have enough profit potential for you to be able to wholesale the property to rehabbers or fix and flip the property yourself.

For example, I recently posted a video of myself standing in front of a house with a Hubzu sign. That house was purchased by a wholesaler and flipped to me (for a $10,000 profit to the wholesaler). I then fixed the house (which cost $25,000) and sold it a few days ago for $175,000 and netted a profit of $34,000. (See tomorrow's episode of the checks and HUD's from this deal).

So there was $44,000 of total profit in this deal. And it was on a free online auction site that you or anyone else could have bid on!.

Before you bid on online real estate auction sites, make sure you know how they work. They are all different and have different bidding requirements. For example presently Hubzu does not require a credit card to register (but they did 6 months ago). Auction and Xome both require a credit card. This difference is huge because what it means is that if you bid on a property on Xome or Auction, your credit card gets charged for $2,500.

Another issue on some of these sites is that they are feeding retail MLS listings into their sites (which are not wholesale deals). And watch out for the foreclosure trustee sales. These are not REO's owned by the bank. They are properties being sold at the county court houses and you should not bid on these if you don't have an attorney or title company running lien and title searches for you.

Listen to this podcast episode to learn more about bidding on online auction sites.

If you are brand new to real estate and want to learn more about how to fix and flip houses then please register for the free fixing and flipping houses training at this link:

https://www.lexlevinrad.com/fixandflipwebinar

For more information about the Fixing and Flipping Houses Boot Camp please visit this link:

https://www.lexlevinrad.com/fixing-and-flipping-boot-camp/

DON'T FORGET TO SUBSCRIBE

CONNECT WITH ME ONLINE:

http://www.lexlevinrad.com

http://www.facebook.com/lexlevinradrealestate

http://www.twitter.com/lexlevinrad

http://www.instagram.com/lexlevinrad

http://www.linkedin.com/in/lexlevinrad

http://www.pinterest.com/lexlevinrad

https://plus.google.com/+LexLevinradrealestate

DOWNLOAD A FREE COPY OF MY BOOK

Download a free copy of my best selling book "Wholesaling Bank Owned Properties" at

https://www.lexlevinrad.com

On this podcast episode I discuss bidding on online auction sites like Hubzu, Auction and Xome.

Online auction sites that list bank owned properties (REO's), and short sales are an excellent resource to find good deals at wholesale prices. Many of these deals have enough profit potential for you to be able to wholesale the property to rehabbers or fix and flip the property yourself.

For example, I recently posted a video of myself standing in front of a house with a Hubzu sign. That house was purchased by a wholesaler and flipped to me (for a $10,000 profit to the wholesaler). I then fixed the house (which cost $25,000) and sold it a few days ago for $175,000 and netted a profit of $34,000. (See tomorrow's episode of the checks and HUD's from this deal).

So there was $44,000 of total profit in this deal. And it was on a free online auction site that you or anyone else could have bid on!.

Before you bid on online real estate auction sites, make sure you know how they work. They are all different and have different bidding requirements. For example presently Hubzu does not require a credit card to register (but they did 6 months ago). Auction and Xome both require a credit card. This difference is huge because what it means is that if you bid on a property on Xome or Auction, your credit card gets charged for $2,500.

Another issue on some of these sites is that they are feeding retail MLS listings into their sites (which are not wholesale deals). And watch out for the foreclosure trustee sales. These are not REO's owned by the bank. They are properties being sold at the county court houses and you should not bid on these if you don't have an attorney or title company running lien and title searches for you.

Listen to this podcast episode to learn more about bidding on online auction sites.

If you are brand new to real estate and want to learn more about how to fix and flip houses then please register for the free fixing and flipping houses training at this link:

https://www.lexlevinrad.com/fixandflipwebinar

For more information about the Fixing and Flipping Houses Boot Camp please visit this link:

https://www.lexlevinrad.com/fixing-and-flipping-boot-camp/

DON'T FORGET TO SUBSCRIBE

CONNECT WITH ME ONLINE:

http://www.lexlevinrad.com

http://www.facebook.com/lexlevinradrealestate

http://www.twitter.com/lexlevinrad

http://www.instagram.com/lexlevinrad

http://www.linkedin.com/in/lexlevinrad

http://www.pinterest.com/lexlevinrad

https://plus.google.com/+LexLevinradrealestate

DOWNLOAD A FREE COPY OF MY BOOK

Download a free copy of my best selling book "Wholesaling Bank Owned Properties" at

https://www.lexlevinrad.com

Watch this video to learn about how to use bandit signs for marketing to motivated sellers.

Marketing with Bandit Signs is one of those old school methods that a lot of new investors overlook. That’s a pity because marketing with bandit signs is still a great way to find motivated sellers and cash buyers.

Putting out bandit signs is labor intensive though, and if you are in a warm location (or cold location) then it can be pretty cumbersome to put out the signs yourself. It is also not a very good use of your time (unless you like making $12 an hour).

My suggestion is you pay someone to put out bandit signs. If you have teenage kids put them to work!

We pay our guys $2 per bandit sign so if they put out 6 in an hour they are making $12 an hour. We have them take photos of each bandit sign to show where they posted them. We send guys out to drive the areas and spot check them (especially in the beginning). One system that works well is you pay them less (say $1 per sign) and you offer to give them $500 for any house you buy off the sign they put out. This is a great way to tap into bird dogs and you can create a special tracking number for each bird dog (which only costs $3 per number with Call Rail).

The biggest issue with using bandit signs is the legality. most cities have strict ordinances about putting out bandit signs. However some are stricter than others. As a general rule if you are going to put out bandit signs pay attention to a few important considerations:

1. Don’t put your personal number on the bandit sign – rather use a Call Rail Tracking Number, A Google Voice Number, or any number that will not lead back to you if someone were to Google the number.

2. If someone asks you to take a sign down then take it down – immediately. Be polite. You don't want to get on their bad side because they will start sending you fines in the mail. Just act like you didn't know you were doing anything wrong, be polite and immediately remove the sign and you will be fine. DO NOT put a sign back in that same area again if you are asked to take a sign down.

3. Do not post bandit signs on private property like on a homeowners lawn (post only on public property).

Here is a little tip for you. They can’t take down signs on private property. So if you see vacant overgrown lots with nothing for sale on them and you put your bandit signs on the lot they will probably stay up for a very long time.

Remember to use a blank sign with marker to flush out cash buyers. Say something like "Investor Special or Handyman Special 3/2 Needs Work Your for Just $49,000 Cash (or whatever the price is). The goal is to get them to call you.

Use a printed sign like in the video above to market to motivated sellers who may be in foreclosure or be facing some other form of distress. Be polite with them too :)

Why blank signs for cash buyers and printed signs for motivated sellers? I think that sellers want to deal with someone legit (printed sign). Cash buyers want a deal so a hand written sign looks more like a motivated seller and less like a wholesaler.

And with regards to color, we have tested out thousands of bandit signs. Large yellow 18 x 24 bandit signs with black writing work best. For cash buyers you can use white signs with black marker or yellow signs with a black marker.

If you are brand new to real estate and want to learn more about how to wholesale real estate and flip houses then please register for the free wholesaling real estate and flipping houses training at this link below:

https://www.lexlevinrad.com/webinar

PLEASE SHARE AND LIKE THIS VIDEO

DON'T FORGET TO SUBSCRIBE TO MY PODCAST

CONNECT WITH ME ONLINE:

http://www.lexlevinrad.com

http://www.facebook.com/lexlevinradrealestate

http://www.twitter.com/lexlevinrad

http://www.instagram.com/lexlevinrad

http://www.linkedin.com/in/lexlevinrad

http://www.pinterest.com/lexlevinrad

https://plus.google.com/+LexLevinradrealestate

On this podcast episode I discuss bidding on online auction sites like Hubzu, Auction and Xome. Online auction sites that list bank owned properties (REO's), and short sales are an excellent resource to find good deals at wholesale prices. Many of these deals have enough profit potential for you to be able to wholesale the property to rehabbers or fix and flip the property yourself. For example, I recently posted a video of myself standing in front of a house with a Hubzu sign. That house was purchased by a wholesaler and flipped to me (for a $10,000 profit to the wholesaler). I then fixed the house (which cost $25,000) and sold it a few days ago for $175,000 and netted a profit of $34,000. (See tomorrow's episode of the checks and HUD's from this deal). So there was $44,000 of total profit in this deal. And it was on a free online auction site that you or anyone else could have bid on!. Before you bid on online real estate auction sites, make sure you know how they work. They are all different and have different bidding requirements. For example presently Hubzu does not require a credit card to register (but they did 6 months ago). Auction and Xome both require a credit card. This difference is huge because what it means is that if you bid on a property on Xome or Auction, your credit card gets charged for $2,500. Another issue on some of these sites is that they are feeding retail MLS listings into their sites (which are not wholesale deals). And watch out for the foreclosure trustee sales. These are not REO's owned by the bank. They are properties being sold at the county court houses and you should not bid on these if you don't have an attorney or title company running lien and title searches for you. Listen to this podcast episode to learn more about bidding on online auction sites. If you are brand new to real estate and want to learn more about how to fix and flip houses then please register for the free fixing and flipping houses training at this link: https://www.lexlevinrad.com/fixandflipwebinar For more information about the Fixing and Flipping Houses Boot Camp please visit this link: https://www.lexlevinrad.com/fixing-and-flipping-boot-camp/ DON'T FORGET TO SUBSCRIBE CONNECT WITH ME ONLINE: http://www.lexlevinrad.com http://www.facebook.com/lexlevinradrealestate http://www.twitter.com/lexlevinrad http://www.instagram.com/lexlevinrad http://www.linkedin.com/in/lexlevinrad http://www.pinterest.com/lexlevinrad https://plus.google.com/+LexLevinradrealestate DOWNLOAD A FREE COPY OF MY BOOK Download a free copy of my best selling book "Wholesaling Bank Owned Properties" at https://www.lexlevinrad.com

On this podcast episode I discuss bidding on online auction sites like Hubzu, Auction and Xome.

Online auction sites that list bank owned properties (REO's), and short sales are an excellent resource to find good deals at wholesale prices. Many of these deals have enough profit potential for you to be able to wholesale the property to rehabbers or fix and flip the property yourself.

For example, I recently posted a video of myself standing in front of a house with a Hubzu sign. That house was purchased by a wholesaler and flipped to me (for a $10,000 profit to the wholesaler). I then fixed the house (which cost $25,000) and sold it a few days ago for $175,000 and netted a profit of $34,000. (See tomorrow's episode of the checks and HUD's from this deal).

So there was $44,000 of total profit in this deal. And it was on a free online auction site that you or anyone else could have bid on!.

Before you bid on online real estate auction sites, make sure you know how they work. They are all different and have different bidding requirements. For example presently Hubzu does not require a credit card to register (but they did 6 months ago). Auction and Xome both require a credit card. This difference is huge because what it means is that if you bid on a property on Xome or Auction, your credit card gets charged for $2,500.

Another issue on some of these sites is that they are feeding retail MLS listings into their sites (which are not wholesale deals). And watch out for the foreclosure trustee sales. These are not REO's owned by the bank. They are properties being sold at the county court houses and you should not bid on these if you don't have an attorney or title company running lien and title searches for you.

Listen to this podcast episode to learn more about bidding on online auction sites.

If you are brand new to real estate and want to learn more about how to fix and flip houses then please register for the free fixing and flipping houses training at this link:

https://www.lexlevinrad.com/fixandflipwebinar

For more information about the Fixing and Flipping Houses Boot Camp please visit this link:

https://www.lexlevinrad.com/fixing-and-flipping-boot-camp/

DON'T FORGET TO SUBSCRIBE

CONNECT WITH ME ONLINE:

http://www.lexlevinrad.com

http://www.facebook.com/lexlevinradrealestate

http://www.twitter.com/lexlevinrad

http://www.instagram.com/lexlevinrad

http://www.linkedin.com/in/lexlevinrad

http://www.pinterest.com/lexlevinrad

https://plus.google.com/+LexLevinradrealestate

DOWNLOAD A FREE COPY OF MY BOOK

Download a free copy of my best selling book "Wholesaling Bank Owned Properties" at

https://www.lexlevinrad.com

One of the biggest challenges for new investors who are looking to get into fixing and flipping houses, is the fear of not having a good contractor to do the work for them. I have seen this fear stop investors dead in their tracks, even when they have a good house, and the money lined up to buy the house. The fear of not knowing a contractor that will do the work or how much it will cost will prevent many new investors from pulling the trigger and moving forward on the deal. Don't let this fear of paralysis analysis stop you from doing your first fix and flip. The best way to overcome fear is with education and knowledge. Start out today by learning the basics of estimating the material costs by taking a visit to your nearest Home Depot or Loews Store. Allow yourself around 2 hours for this exercise and make sure you take your notepad and a calculator. Go through each aisle and take note of the material components that you will use for each room in the house. Write down the costs of flooring, cabinets, faucets, counter tops, toilets, vanities etc and go through the store aisle by aisle to make sure you don't miss anything. Make sure you take pictures of all of the items with your smartphone. Save all of your notes into Dropbox or Evernote or Google Drive or somewhere where you can easily access the information in the future. Once you understand the cost of each component of your materials costs you will be able to add up all of your materials and have a good understanding of the total cost of your materials. Knowing the cost of the materials is 90% of the battle because once you know the cost of materials, you know how much you are being charged for labor when you get an estimate. Your job, is to shop that labor estimate! You can download a copy of our "Repair Estimate Cheat Sheet" at this link: https://www.lexlevinrad.com/estimating-the-cost-of-repairs-for-fixing-and-flipping-houses/

One of the biggest challenges for new investors who are looking to get into fixing and flipping houses, is the fear of not having a good contractor to do the work for them.

I have seen this fear stop investors dead in their tracks, even when they have a good house, and the money lined up to buy the house. The fear of not knowing a contractor that will do the work or how much it will cost will prevent many new investors from pulling the trigger and moving forward on the deal.

Don't let this fear of paralysis analysis stop you from doing your first fix and flip. The best way to overcome fear is with education and knowledge. Start out today by learning the basics of estimating the material costs by taking a visit to your nearest Home Depot or Loews Store. Allow yourself around 2 hours for this exercise and make sure you take your notepad and a calculator.

Go through each aisle and take note of the material components that you will use for each room in the house. Write down the costs of flooring, cabinets, faucets, counter tops, toilets, vanities etc and go through the store aisle by aisle to make sure you don't miss anything.

Make sure you take pictures of all of the items with your smartphone. Save all of your notes into Dropbox or Evernote or Google Drive or somewhere where you can easily access the information in the future.

Once you understand the cost of each component of your materials costs you will be able to add up all of your materials and have a good understanding of the total cost of your materials.

Knowing the cost of the materials is 90% of the battle because once you know the cost of materials, you know how much you are being charged for labor when you get an estimate.

Your job, is to shop that labor estimate!

You can download a copy of our "Repair Estimate Cheat Sheet" at this link: https://www.lexlevinrad.com/estimating-the-cost-of-repairs-for-fixing-and-flipping-houses/