Real Estate Investing – Finding Deals

Real estate investing is all about finding the deals. Finding the deals is fun and exciting and many people seem to have difficulty in this area. I believe the reason people have difficulty in this area is due to lack of goals or a clear vision.

In order to find a deal you need to know exactly what your criteria is for finding a deal.   Most beginners or even experienced real estate investors don’t have a clear vision.  

The best strategy is to sit down and think seriously about what you want your outcome to be? Are you looking for quick cash? Or are you looking for long term wealth building? Or are you looking for residual income? Each one requires different strategies to buy and sell.

Last Night I decided to drive through five mobile home parks in an area about one hour from where I live. I did my research first of all to find these parks and then wrote down all five park addresses in my notebook.

This morning I left my house at 7:00am and knew exactly where I was going and what I was looking for.   My planning was a road map for me to find deals today in an area I want to invest in.

Planning is the critical stage then acting upon your planning brings in results.

Cashflow Cindy

Real Estate – Managing Rental Units

Real Estate Investing is always fun and exciting. Owning rental units takes a different skill level than finding deals, funding deals, wholesaling or flipping.

It is best to have rules and regulations setup and instruct the tenants upon moving into your units what the rules are prior to signing the lease. This way both sides are aware of the ramifications to follow if the rules and regulations are not followed.

Dealing with tenants involves following your rules and regulations you have setup for your rental units. Where investors get into trouble is when they don’t follow their procedures.

Tenants will tell you quit a few sad stories on why their rent is not being paid. If you listen to these stories and get your feelings involved the rules and regulations will not be followed.

I am going to tell you, YOU WILL LOSE!!! If you don’t follow your procedures and get involved emotional YOU WILL LOSE!!!

My partner decided to get emotionally involved with a unit she manages and YES, SHE LOST!

Today, Wednesday , September 16 , she went to collect the rent from 5 boys and only one boy paid. The rent amount is $775.00 Guess what, He gave her $200.00 after telling her on the phone one hour earlier he was going to pay her $250.00. What happened to the other $50.00 he was paying her??

This is a situation where my partner did not stick to our rules and procedures. The 4 boys have left the premises with the one boy remaining since I handed him a 5 day eviction notice last Monday.

Stick to your rules and regulations when you are managing rental units. If you run your real estate rentals like a business it will run smoothly if you don’t; you will quickly become a MOTIVATED SELLER!

cashflow Cindy

P.S.   Great Management Program to add to your library

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

Acting Freddie Mac CFO found dead

April 22, 2009 - 12:22pm

The home of David Kellermann, acting chief financial officer of mortgage giant Freddie Mac, is seen in Vienna, Va., Wednesday, April 22, 2009, after he was found dead at his home Wednesday morning in what police said was an apparent suicide. (AP Photo\Luis M. Alvarez)

 

VIENNA, Va. — David Kellermann, acting chief financial officer of Freddie Mac, was found dead in his Hunter Mill Estates home Wednesday morning in what police say was an apparent suicide.

Fairfax County Police spokeswoman Mary Anne Jennings tells WTOP police responded to the Kellermann home after family members dialed 911 at 4:48 a.m.

Sources tell WTOP Kellermann hanged himself.

“We were called from inside the house to come investigate an apparent suicide,” Jennings says.

“We’re not going to give you details of the condition of the body, except to say it was an apparent suicide.”

A medical examiner will determine the cause of death.

Police on the scene tell WTOP Kellermann’s body was found on the home’s lower level.

The Kellermann home sits on the corner of Raleigh Hill Road and Brittenford Drive in picturesque Hunter Mill Estates, a neighborhood of single-family homes outside of Vienna, just over the border from Reston. According to Fairfax County tax records, Kellermann’s home is assessed at $898,440.

Neighbors tell WTOP they are surprised to hear about Kellermann’s suicide. They knew him, his wife and young daughter from neighborhood parties and the pool.

“I’m in total shock. This is a wonderful family. This is the last thing I would have ever expected,” says Susan Unger, who lives across the street from Kellermann. “I’m saddened. It’s awful.”

Unger’s husband Paul says Kellermann was a “terrific guy.”

“We’re just shocked beyond belief. This is just a wonderful family — very family oriented,” Paul Unger says.

Kellermann, 41, had been with Freddie Mac for more than 16 years.

He had been named acting chief financial officer in September 2008, taking over after Anthony “Buddy” Piszel resigned. Freddie Mac’s CEO David Moffett resigned last month.

Government-controlled Freddie Mac, based in McLean, has been criticized heavily for reckless business practices. Some say those practices contributed to the nation’s housing and financial crisis. Freddie Mac owns or guarantees about 13 million home loans.

As CFO, Kellermann was responsible for the company’s financial controls, financial reporting and oversight of the company’s budget and financial planning.

Freddie Mac released this statement about Kellermann’s death:

“The Freddie Mac family is truly saddened by the news this morning of David Kellermann’s death. We extend our deepest condolences to David’s family and loved ones for this terrible personal tragedy.

David was a man of great talents. He dedicated those talents to Freddie Mac for more than 16 years, serving in many business and finance capacities before recently taking the reins as acting chief financial officer. His extraordinary work ethic and integrity inspired all who worked with him. But he will be most remembered for his affability, his personal warmth, his sense of humor and his quick wit. David was a friend to many in the Freddie Mac family, and we mourn his passing.”

Our prayers go out to his family and friends

cashflow Cindy

original Post found on link below:

http://www.wtop.com/?nid=600&sid=1657033

Real Estate Investing – You Could Save HUGE Money On Your Real Estate Taxes

Has your house gone down in value that last year?  Do you know what your house is assessed at for tax purposes?

You may be paying too high of taxes if your house has gone down in value from two years ago.  If your house has dropped in price by $100,000 this could be a potential to save BIG MONEY.

Remember, you are paying taxes on the real estate property at the time the real estate was assessed.  Contact your assessors office to find out what price is your real estate assessed at?

With money being tight for many families these days, this may be an area when you can cut cost.  Taxes are a huge expense to home owners or real estate investors. 

However, in order for you to save money on your taxes, it will take some research and time.

Couple of pointers listed below:

·         Challenge this assessment that may have been based on an assessment from a couple of years ago.

·         Contact Assessor’s Office

·         Find out what other real estate properties in your area have sold for in the last six months.

·         Need to prove to the assessor what your house market value is at is today’s market.

Click on link below to view the clip from CNBC

 Save Big Money on Your Property Taxes: Fight Your Assessment

http://www.youtube.com/watch?v=Zxw6GB0gv68

Master Mind Group - Turning the Economy Around

It’s time we the people all band together and start using our Brains on how we can turn this economy around?  With all of our education and skills we have in America its time we stand up and do something!  Waiting and waiting for our president to so something is being passive.  We as real estate investors are active investors and creative thinkers. 

Let’s utilize our skills and education to come up with a real solution.  With so many diverse backgrounds and ethnic groups we can all share ideas and solve this challenge we are facing as a Global Society.

Post your ideas and thoughts.  I am looking at getting a webinar together for those of interest.

I look forward to your ideas and solutions.

Real Estate Investing:  I had a gentleman who contacted me yesterday regarding the cost of Real Estate Programs.  Since I went through the program he wanted to know about my success or failures.

He was concerned about the high cost of the real estate program and was looking for verification the program is worth the high fees.

Real Estate Investing Education is expensive!  I am going back form my Master Degree and the cost is $30,000!  Yes, $30,000!  This price does include books.  Are they teaching me How to Make Quick Cash?

If you’re an advent reader of my blog daily you know I firmly believe in education, education, education.  As I stressed to this person, I am constantly investing in seminars, boot camps, books and audios. 

You have to keep investing in yourself.  Go back to your Real Estate library of books and re-read your books again and again.  You will be amazed at what information you will pick up and retain the 2^nd or 3^rd time reading the same book. 

If your taking ACTION on what your being taught.  The 2^nd or 3^rd time you read the book, you’re more knowledgeable now their several months or one year ago.  Also, you get somebody else’s idea or take on the situation.

If you learn one crucial step to successful real estate investing from my blog; please take away, Education is Key!

The program will apply to loans made on or before Jan. 1, 2009, and modifications will be allowed only once. Mortgages with a first loan of more than $729,750 do not qualify.

The plan runs through 2012 and starts immediately.

“It is imperative that we continue to move with speed to help make housing more affordable and help arrest the damaging spiral in our housing markets, just as we work to stabilize our financial system, create jobs and help businesses thrive,” Treasury Secretary Tim Geithner said.

Sinking home prices and mounting foreclosures are dragging down the economy. By the end of last year, at least one in five U.S. homeowners with mortgages, or about 8.3 million people, owed more than their homes were worth, according to data released by First American CoreLogic.

“Today’s announcement means you should call your lender to find out if you qualify,” says Lawrence Yun, chief economist at the National Association of Realtors. “This should get the ball rolling.”

Details:

•Loan refinancing. Up to 5 million homeowners with a solid payment history on mortgages held or owned by Freddie Mac and Fannie Mae will be eligible to refinance into more affordable terms.

People will be able to refinance even if they have less than 20% equity in their homes, and an appraisal may not be necessary.

•Loan modifications. Lenders and other servicers can immediately begin making modifications that could help up to 4 million at-risk homeowners stay in their properties.

To be eligible, homeowners with a first loan can have an unpaid principal balance up to $729,750. (Higher limits will be allowed for owner-occupied properties with two to four units.)

Incentives also are provided to get lenders to modify mortgages if a borrower isn’t late on payments but is at risk of default.

“I like the plan because it addresses (homeowners) who are not behind on payments,” says Yun. “It addresses people who could default. It’s proactive.”

•Lenders and other servicers. Servicers also must follow an established process to reduce the monthly payment to no more than 31% of the borrowers’ gross monthly income.

Servicers will get financial incentives, such as an upfront fee of $1,000 per modification, to encourage participation.

We are looking for your feedback regarding this article.  Please leave your comments.

Real Estate Investing:  Education is crucial to become a successful Real Estate Investor.  However, the other piece to your success is deciding What Do You Really Want Out Of Life?

Everything begins in Thought! 

Marshal Sylver teacher you How to Drive your Own Life vs. having somebody else in the driver’s seat!  Join now to change your life as it changed mine.

 http://prosperityalliance.com/cindyconradt

Most people have NO idea!  Do you truly know what you want as a successful real estate investor?

If you read my blog daily; you can see how I recommend other products as Bob Proctor’s Six Minutes to Success, and Marshal Sylver’s Total Prosperity Seminar.  A new one I am recommending is Dolf Deroos, ‘Money Magnet’ Audio’s.

In my earlier days of Real Estate investing; Dolf de Roos Money Magnet was part of my beginner Real Estate Investing Collection.  Dolf De Roos is a highly successful real estate investor.  In fact, he only buys commercial property today.  

We were always taught as children growing up Money is Evil, Money is the root of all evil. 

Do any of these phrases sound familiar to you?  ( post your phrases you have ingrained into your mind to share with the group!) 

Go ahead and listen to a FREE sample of Dolf de Roos audio and you will understand where you are sabotaging your success.

Reality is You are Sabotaging Your Own Success!  You need to remove those old beliefs and replace with TRUE beliefs.

Ask yourself this Question:  How many people can I help out with my current income?  Will I be able to retire comfortable without social security?

Do you know most people retire FLAT BROKE?  Do you want be part of the statistics?

Its time to attend Marshal Sylver’s Total Prosperity Seminar so you can live the life you always dreamed of when you were a child.

The best part about Marshal Sylver is he always overdelivers.  Signing up for Total Prosperity give you a ticket to the ‘Turning Point’ Seminar.  This is an awesome Seminar.  Marshal teaches self-confidence!

Yes, you get to attend not 1 seminar but 2!!  You also are getting FREE audio’s to listen to while your driving down the freeway.  Marshal will remove all your negative thoughts and replace them with positive thoughts so you can GET WHAT YOU WANT OUT OF LIFE!!  Its your choice, go ahead click on the link below and sign up now!

 http://prosperityalliance.com/cindyconradt

 If Total Prosperity is out of your budget then I suggest you start by listening to Bob Proctor’s
Sixmintuesto Success videos Or Dolf Deroos ‘ Money Magnet’ to get your mindset where it needs to be.  You have to start putting out into the Universe what you want out of life. 

 GET RID OF THOSE NEGATIVE THOUGHTS!!

Real Estate Investing: Excerpted from his best-selling book,

Nothing Down for the 2000  By Robert Allen

  Today, real estate is still the most powerful wealth-producing tool in the world, with countless opportunities for you to build your personal fortune.I can tell you from personal experience that it doesn’t matter whether you’ve saved $1,000 of $10,000 or $100,000—or if you’re still trying to balance your household budget each month. My Nothing Down program has been proven to work over and over again. Best of all, it works whether the real estate market is going up, down, or sideways.

Most people lack confidence:  Marshal Sylver teaches you confidence watch his FREE Video:   http://prosperityalliance.com/cindyconradt

 Studies show that about two thirds of Americans will live from paycheck to paycheck until the day they die. Many of them earn a nice living because both spouses work. But that’s not financial freedom. Only about 10 percent of us achieve a true measure of financial security. And only about 3 percent break into the blue sky of true financial freedom.

 Too many people are simply unaware of the incredible opportunities all around us. But unless you change your outdated beliefs, create a specific plan for your finances, and take action now, you will never take true control of your life. If you drift through life, others will make your decisions for you.

 Take the leap of faith and BUY CASH FLOWING REAL ESTATE: (http://serene.ewimultiplestreams.com/index.php?base=featured 

 Real Estate Investing: 

How many of these resolutions to you believe are actually maintained as the year progresses?

Past 1 week: 75%

Past 2 weeks: 71%

Past one month: 64%

Past 6 months: 46%

While a lot of people who make new years resolutions do break them, research shows that making resolutions is definitely useful. People who explicitly make resolutions are 10 times more likely to attain their goals than people who don’t.  (Interesting fact)  To become even more successful you need to write your goals down on a piece of paper.  Successful Real Estate Investors have goals written down on piece of paper.

Source: Auld Lang Syne: Success predictors, change processes, and self-reported outcomes of New Year’s resolvers and nonresolvers, by John C. Norcross, Marci S. Mrykalo, Matthew D. Blagys , and University of Scranton. Journal of Clinical Psychology, Volume 58, Issue 4 (2002).

Every new year, we make resolutions. It makes us feel like we’re getting a new start on life. We’re full of hope and anticipation for the upcoming year.

But it seems that every year the same thing happens. Within a short time, the enthusiasm and hope dissipates in day-to-day life. And there’s one more year that your New Year resolution has fizzled out. Then we feel deflated, sad and guilty; we broke our promises to ourselves. You may even justify your failure to follow through with a multitude of reasons… all of which you know could have been overcome had you had the right systems, strategies, and willpower in place.

Research shows that half of the people who make good resolutions upon the New Year have given up on them by the end of June. It doesn’t matter what their New Year resolution was — to lose weight, exercise, get more sleep, career advancements, an additional stream of income, or better money management.

Now, that was the pessimistic point of view. The optimistic view is that half of the people succeed!

Which Half Do You Want To Be Part Of for your real estate investing? 

 His voice radiates with enthusiasm when he speaks. I believe you will enjoy his Goal Setting audio’s as much as I do. He will help you achieve your dreams even if they are buried underneath the stress of your daily lives. Zig Ziglar will teach you how to bring your dreams back to life again. He did for me.

You need to invest in yourself for 2009 to get what you want out of your life in 2009. I listen to audio’s 4-5 times a week to learn new ideas or be inspired. Click on picture below to listen to 3 free audio’s samples. Enjoy!

Without clearly defined goals, you simply can’t achieve the success you want! In Goals, world-renowned motivator Zig Ziglar guides you through a clear, beautifully organized ’success trip.’ Along the way, you’ll learn how to recognize and set your goals. You’ll learn techniques for finding extra time you didn’t think you had and for cutting down big goals to easy-to-handle size. Now you can take advantage of this all-important opportunity to write your ‘business plan for life.’