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Real Estate Investing - The bill is called H.R. 1728: Mortgage Reform and Anti-Predatory Lending Act

Are you familiar with the bill H.R. 1728?  I encourage all of you to click on the link below and read the bill regarding owner financing.   If this bill passes, real estate investing will change as we all are familiar with it.  Legislation wants to bring significant impact on our investing practices should this bill pass.

http://www.house.gov/apps/list/press/financialsvcs_dem/1728.pdf

Take the time to read this bill and write to your Senator.    Click on the link below to find your senator in your area and Vote NO.

If this bill passes; we will all have a difficult time with funding our deals.   This bill is taking away our rights as homeowners to owner finance our properties or will take away many people’s chances of ever owning an own. 

Rent to Owns would have a significant impact and would eventually go away due to the H.R. 1728 Bill limited the total amount of real estate home owners would be able to sell per year.

This is a serious bill and we all need to read it and understand it.  Click on the link now to read it and address your concerns to your Senator regarding the Owner Financing section.  

http://www.house.gov/apps/list/press/financialsvcs_dem/1728.pdf

If real estate investors leave the real estate market; housing prices will decline.   Who will buy up all of these foreclosed properties?   Who will rehab these properties after the home owners or tenants have destroyed them?

Click on the link below for a list of Senators:  I urge you to take action today!  If this bill passes we are all in for some drastic changes on real estate investing as we all know it.  You can either email or write to your Senator and vote NO on the H.R. 1728 Bill!

http://senate.gov/general/contact_information/senators_cfm.cfm

cashfow Cindy

P.S.  Attend Total Prosperity and receive a ticket to The Turning Point  for FREE!  (you will learn to take control and get up on stage and eat FIRE!) 

http://prosperityalliance.com/cindyconradt

Marshal Sylver taught me how to use my strength from within myself and demand the life I’ve always wanted to live.   You need to take control of your life Now!   Otherwise, your boss, parents, spouse or friends will!  Michael Jackson died at a young age of 50; live your life now before its too late!

http://prosperityalliance.com/cindyconradt

Real Estate Investing - Do You Take Your Cell Phone On Vacation?

Last week I took my family Up North for a week to a fabulous resort.    We met my other members of my family as my brothers, sisters and parents.   We had the most fabulous weather and we all returned home with wonderful suntans.

I took my cell phone with me since this is the number I have on all of my For Rent Signs in the Wisconsin area.    Out of state investments are handled with Property Management companies.

I have a difficult time handing my properties over to a Property Management company on my locally owned units so my partner and I manage them ourselves for this year.   We may pass them onto a property management in 2010.  

Anyway, my phone was ringing off the hook for rental units.   If you are not aware of it with all of the foreclosed properties all of these people are moving back into our rental properties.    What a GREAT time to own rentals.    The rental market will be strong for the next 10 years.    So go and buy yourself a nice income producing property.   You will be glad you did.

My family members all told me to turn off my cell phone.   My father even took a picture of me doing business on the phone!  LOL

This is a wonderful market for owning rentals and I love to hear my phone ring with tenants calling me to inquiry on renting them.  Needless to say, my cell phone stayed on and when I came in from boating then I would return their call immediately or the next morning. 

 As a matter of fact, I even negotiated a HUGE deal during my vacation Up North.    If I was traveling around a city then I would of turned my phone off however this was at a resort with only my family members present.

cashflow Cindy

Real Estate Investing – You Need To Lay Down Your Ground Rules!

Yesterday I knocked on the owners of the mobile home that my partner and I are financing to instruct them they have not held up to their end of the bargain.  The one owner instructed me his friend and he cleaned up the site the best they could and the other owner started on with excuses.

With owning income producing properties over three years, I thought I heard all of the excuses.   Last week the excuse was she broke her foot.   On Sunday the excuse was she has two children (used this excuse multiple of times).

At this point in time I instructed the other male owner to go over and clean up the site and then it turned into a heated discussion and filthy words coming out of her mouth.

The rules were written down and discussed prior to financing the mobile home for this couple.   Now, the mobile home is moved and it seems the only thing they want to do is click, click and more clicks with their big screen TV they purchased about two weeks ago.   (Immediate gratification that gets everybody in trouble today with their finances)

At this point in time I instructed them on the items listed below:

·         Watch your Mouth

·         I took pictures of the mobile home lot showing ALL kinds of trash laying on it.

·         Garbage can by the road needs to be removed since its full of broken up blacktop and concert and disposed on properly.

·         Huge Pile of Trash needs to be removed.

·         All boards and lumber need to be removed

·         Where the shed sat; the spot needs to be raked and put grass seed down on it.

·         The owner of the park called me last week these items need to be done or she will keep my check for $1,500.00

·         I instructed them my partner and I will clean up the mobile home lot today (on a Sunday!)  However the cost will be added onto the promissory note.

·         Read the promissory note (damages incurred will be added)

When I left; I went home and pulled out the promissory note to verify the terminology used on it.   As mentioned to the owners any damage occurred will be added to the promissory note at a 14.9% interest rate.

My partner drove over to the lot in the afternoon to start cleaning it up.   To her surprise they already had 80% of the lot cleaned up.   They brought a trailer to put all of the garbage on it.

Had we not had the agreed terms in writing we would have been cleaning up the mobile home lot on a Sunday.

I can’t stress to you the importance of laying down the ground rules upfront.   Once the rules are agreed upon verbally then you need to put it down in writing.   Once the document is all written up you need to take the document and get it notarized.  Your local bank offers this as a free service to their customers.

I drove past the mobile home lot this morning and it is all cleaned up with the bare spot ranked with grass seed on it.

cashflow Cindy

Real Estate Investing - Success Lies In Valley’s

I watched the Good Morning television show this morning on a special on Michael Jackson’s musical career.     Michael Jackson’s Music Producer talked about Jackson’s career from where he first hear Jackson sing.   He seen talent in him that nobody else did.

He produced three albums with Michael Jackson and the rest is history.  

He watched Michael Jackson rise to stardom overnight as many others.  He talked about how success is an odd entity and how he seen stars handle or mishandle their success.

   His words:

Success brings Peaks and Valley’s; its the Valley’s where you find your true Potential!

As with real estate investing or a singing career.  You will encounter Peaks and Valleys.

During your first years of investing you are going through a HUGE learning curve.   You will encounter LOW valley’s unless you become extremely lucky where all of your investments are successful.   However, if this lucky situation happens to you; I will see you on your way down.

Success brings Peaks and Valleys.  However, the longer you invest and the more experience you gain; your valley’s become low valleys and then your peaks come along quicker and stay longer. 

The DEEP valleys disappear the more experience you gain.

The key however; is learning how to overcome the challenges we face daily to get back up to the Peaks Again!

This is where many real estate investors seem to fall.  If you hear anybody tell you Real Estate Investing is easy they are being untruthful.   As the old saying goes; if it’s so easy to earn a million dollars in real estate investing then everybody would be doing it! 

Real Estate Investing is a wonderful learning experience and I hope you all follow me on the journey to becoming Financial Free!

cashflow Cindy

Real Estate Investing – Section 8 (deferred repairs)

Back in January of 2009, our duplex was inspected by Section 8. Some of the items needing repair they put on a deferred list as painting on outside doors. Since it was so cold out; it’s difficult to paint properly in the cold.

A letter was mailed out to us two months ago as a reminder to have the deferred painting completed by June 15th. A follow-up letter was mailed out the week of June 8^th as a reminder to complete the items.

Once the items were completed then I filled out the form they mailed to me and faxed it over to housing. To follow-up; I made the phone call to verify housing did receive the fax so we would not lose our rental check.

Once the fax was received they inspected the property to verify the work was done according to their specifications.

If these conditions were not corrected by July 15, the Housing Authority abates (pro-rate- daily reduce) their part of the rent assistance payment check to the landlord/owner. If the repairs are not made within 30 days of July 1, 2009, the Housing Authority has the right to terminate the Housing Assistance Payment Center Contract with the landlord.

It’s in your best interest to follow the Housing Authorities guidelines if you decide to accept a Section 8 tenant. Their checks are automatically deposited in your bank account with no monthly hassles once the inspection passes.

I listen to Bob Proctor’s sixminutestosuccess daily.   Bob inspires and motivates me with his teachings.   He also helps me through my daily real estate investing challenges.

http://store.sixminutestosuccess.com/?aid=590590

Cashflow Cindy

Real Estate Investing – Mobile Home Park Required a $1,500.00 Security Deposit

The mobile home park required us to give them a $1,500.00 security deposit prior to moving the mobile home out of the park.    This deposit covers any damages incurred to moving the mobile home off the lot and out of the park.

·         They required us to remove all garbage as insulation, stones and garbage once the mobile home was moved off the lot.  

·         The grass needs to be in the same shape as when the home was sitting on it prior to removal of the mobile home.

·         The grass underneath the shed has to be re-seeded and raked.  The shed was sitting on the grass for over two years so needs to be re-seeded.   If the grass is not re-seeded then they will take money out of the security deposit to pay their landscape crew to re-seed the grass.

When the mobile home park told me they required a $1,500.00 security deposit prior to removal of the mobile home I thought to myself they are being quit demanding and money hungry.   However, after talking with them and finding out the damages that people incur with removing the mobile home they are protecting their investment.

The park instructed me they have owners move mobile home out of the park in the middle of the night.  They take chain saws and cut trees down and damage signs and dig huge ruts in the grass.

Mobile Home Parks cost money to maintain as our rental units.   This was my first mobile home purchase and a huge learning experience with the purchase and moving it.

As with any of my other experiences, my next purchase will be done differently.  However with

real estate investing it is a daily learning experience.

If interested in learning more information on Mobile Homes and Mobile Home Parks this is a great web site for you to gain quality information.

http://www.mobilehomeparkstore.com/cmd.php?af=1002978

cashflow Cindy

Real Estate Investing – Mobile Home Move a Success

I found a motivated seller on a mobile home four weeks ago.   The mobile home is located in a Trailer Park in the country.  This particular mobile home park is extremely well managed by a professional management company.  Another property management company told me this park is so clean as people can eat off the grounds!  A clean well maintained park.

With a clean well managed mobile home park behind it is strict guidelines and rules to be followed either living in the park or moving homes into and out of the park.  These rules and regulations keep the park well maintained.

I sold the mobile home to a home owner who wanted the mobile home moved because she has a dog.   This park does not allow dogs.   The home owner did not want to part with her animal since she rescues dogs.

In order for us to move the mobile home the homeowner was required to pay the park owners $650.00.  This money was used to have the park owner bring in their crew to move the mobile home off the site onto the city road.  The park owners required us to use their crew to move the mobile home because they did not want any damages incurred.  

This morning they moved the home out to the road.   When they moved the mobile home they ran on the neighbor’s lawn across the street and put two ruts on the corner.   This $650.00 is for the park owner to use to repair the neighbor’s lawn and pay his crew.

The moving truck hooked up the trailer home once it was on the city street.   The parks crew guided the truck out of the park so no damage was incurred as running on neighbor’s lawn or damaging any signs.

This is a huge process moving a mobile home out of a park.   The park owners charge park owners charged $650.00 since this is the cost they incur moving a home out of the park.

We also put up an additional $1,500.00 security deposit to cover any damages that may incur removing the shed and two decks off the site.  This deposit also covers garbage removal if any insulation, stones and blocks or paper is left behind.   The site needs to be complety free of debris!

When I arrived at the site this morning my team and the parks team both worked side by side on their goal to remove the mobile home park off the site without incurring any damages.

 To my surprise they were laughing together!  Verses last Friday, everybody was shouting with vulgar words flying around the site.  Today, they all became business associates and shook hands.   It was fabulous to talk to each other and understand their point of view.

Marshal Sylver taught me how to handle conflicts and obstacles.   I’ve been trained going into any real estate investment knowing ahead of time I have challenges facing me.   The key is learning how to overcome each challenge and keep moving forward.

Now, I want you to grab a cup of Hot Green Tea and be trained by Marshal Sylver by watching his video.   You will be glad you did.

http://prosperityalliance.com/cindyconradt

 cashflow Cindy

Real Estate Investing – Challenges Faced Moving Mobile Home Today

Today was an interesting day to say the least.   This morning I arrived at the Mobile Home Site and expected the Mobile Home to be gone.   Instead I arrived with people voicing their opinion in anger with each other.  Swear words were flying around with the top word being Sue!

I immediately instructed the group nothing gets done with high tempers and vicious words.  It was extremely difficult to find out what the issues and challengers were with each person strong headed.

The park owners have been a challenge to deal with since we contacted them to instruct them we were moving the mobile home out of the park.  They told us what rules we need to follow so we have been following them.   However, this morning their driver was as difficult to deal with as the park owners.   The end result was the mobile home did not get moved.

The owners would not call their driver back to move the mobile home at 10:30am this morning because they claimed he went up north for the weekend.   He had his work week in at 10:30a.m. Friday morning.

This situation could have easily been resolved this morning with the list of items below:

·         Park Owners been more willing to work with us (frantic owner who used angry to push himself around).

·         Park Owners instruct us to bring a Battery Pack to get the wheels moving when movers contacted them to find out what their driver’s responsibilities were and movers.

·         Had the driver waited 10 minutes for the mobile home owner to pick up a battery pack to attach to the wheels?

·        

Cashflow Cindy

Real Estate Investing - Moving a Mobile Home

Mobile homes are expensive to move.   You need to plan around $3,000 - $4,000 depending upon where you are moving the home.   There is added cost upon distance on moving the home.

Mobile Homes investing is a total new area of real estate investing for me.   As you well see, I have items to learn.   However, my blog is about my daily real estate experiences.   Not all of my experiences are good but I learn to celebrate the success and overcome the challenges on a daily basis.

When your real estate empire grows to over 10 units; you will endure daily challenges.   The key is to have a positive outlook and ask yourself, what is the solution to this issue and fix it.

When this buyer contacted me about the mobile home I enforced the $3,000 moving cost to her on the phone.   I instructed her multiple of times, it would cost around $3,000 to move this mobile home.  The buyer insisted to me she had the money to pay the moving cost of the home.

She worked out a deal with the mover to have her family assist with the labor of preparing to move the home.   As it turned out, all of her help never showed up this morning!!!

Needless to say, this is the last time I allow this situation to occur.   Luckily the moving company was willing to barter with her on keeping the shed and front deck for partial payment of their services.  They negotiated a payment plan between the two of them.

This situation is going to work out because of my business relationships with the company.   However, this was a learning experience on my end and will never occur again with the buyer indicating they will provide their own people to assist with the prep work.

Everyday is a learning experience in the real estate investing world.   Somedays are more stressful than others however at the end of the day its all about building wealth.

Bob Proctor has an excellent program on The Science of Getting Rich

http://www.thesgrprogram.com/products/special/for-friends/dollar-trial?m=49f85564b2e21

cashflow Cindy

Real Estate Investing – Animals Cause Damage To Your Units When Owners Are Irresponsible

Real Estate Investing is interesting when you own rental units.   You need to decide with each unit if you will accept animals.  If you do accept animals in one unit it does not mean you have to accept animals in your other properties.

I do want to stress to you the importance of getting educated in the area of Property Management Skills.   This was one of my first investment properties and truly had no idea what I was doing at the time.   Since then I have spend thousands of dollars getting educated in the area of Property Management to gain insight and skills.

John Dessaur has an awesome Property Management Program for a minimal fee of $49.00.   This $49.00 investment will save you from getting tons of gray hair and losing sleep.

Find Your Life’s Freedom’s! Take Action Now!!

 If you decide to own rentals you need to contact their previous landlord and find out if they were responsible tenants.  Otherwise you will end up with $3,000 worth of damage as I did.

Two Great Questions to ask the Previous Landlord are listed below:

1.       Was the Property left in the same condition as when they moved into it?

2.       Would you rent to them again?

The video that I am going to show you is from the owner being irresponsible.   Animals are good when they are trained and taken care of by their owners.   Damage is done when owners are lazy and irresponsible. 

As you can see from the video the owner did not have a place for the cats to urine so they went on the floor in the house.   Mainly from the smell and wetness looks to be the bedroom where the cats decided to urinate frequently.   My contractor had to walk outside because the house smelled so bad. 

The question I asked myself is how was this person able to live in these unsanitary conditions?   As the saga goes; they move from this location and start the process all over again.   Don’t let this happen to you; get yourself educated.

For a small investment of $49.00 you can purchase John Dessauer’s Property Management Program. Comes with CD’s and a work book. John made his money investing in multi units so he knows the in’s and out’s of property management.
Find Your Life’s Freedom’s! Take Action Now!!