youcanbuycashflowrealestate.com

Real Estate Investing - Don’t want to be a landlord?

When you invest in real estate you need to decide what real estate strategy or strategies you are going to use.
Various Real Estate Investment Strategies are buy and hold, wholesale, bird dog, retail flip or lease options.
It seems to be in today’s marketplace the number 1 real estate strategy is to wholesale or bird dog. In today’s market place or newbie investors all want to use the wholesaling strategy because it’s quick cash and it seems the investors today are looking for a quick strategy to fast cash.
Last week I attended my apartment association meeting and talked to an experienced investor and he keeps commenting to me as members of the investment club all they talk about is wholesaling. From his experience these investors are missing out on all of the other strategies in real estate investing. We talked about this same issue last year.
I want you to ask yourself this question?
What happens if the property you bought doesn’t perform as expected and sell immediately?
Do you have cash reserves to pay your mortgage payment?
I can guarantee you if you don’t plan ahead for the tidal wave you will end up looking at other strategies to keep yourself afloat. Lease Options are a Great Strategy or you may even look into renting your property out to smooth you through the storm.
Even if you finance properties; it will come a point in time when you need to educate yourself in other strategies besides wholesaling or what are you going to do when the market changes?

Cashflow Cindy

Real Estate Investing – Condemn Property For 5 Days

Real Estate Investor is always interesting with City Inspectors. My brother called me yesterday in a frantic panic on one of his single family houses he rents out.

The city Inspector contacted him and instructed him If he did not fix the plumbing issue then the city would condemn his rental (single family house).

This particular house was originally leased option to the neighbor. The neighbor put tenants into the single family house. The neighbor leased optioned this house from my brother. The neighbor collected rent and fixed up the property if the tenants contacted him. Since he was the landlord not my brother.

It just happened that the neighbor who leased option my brother’s house lost his house so he had left the area. The tenants living in the property never contacted my brother and informed him of their plumbing issue.

My brother received a call from the inspector and instructed my brother this issue needed to be fixed within 24 hours or he will condemn his rental for 5 days.

This is my brother’s first experience dealing with city inspectors. When dealing with city inspectors; you always keep your mouth shut and listen to them. They hold the power with your rental units. You want to become friends with the city inspectors. Let them know you are willing to work with them. As long as they know you are working on fixing the violation the inspectors will work with you.

This whole issue would have been taken care of without the city inspector if the tenants would of called my brother. Instead the neighbor called the city inspector. It could be the tenants called the person who leased option the single family house from my brother and he did not fix the issue.

My brother had a conversation with the tenants to instruct them to call him immediately on any plumbing issues or other issues that need to be taken care of to maintain the single family house.

If you own any real estate you will be working with city inspectors. Remember to treat them with respect and they will be fair with you.

Cashflow Cindy

P.S. Click Here! to purchase an excellent Foreclosure program. In my eyes, it FREE since its a rediculous small cost of $37.00