Foreclosures: Added 11-25-09 Ten Questions on the Volatile Housing Market
IF YOU'RE IN TROUBLE WITH THE BANK. WHAT NOW?Don't wait. Time is of the essence! You must get help NOW! Call Myke at 979-693-0201 We can help.
7 Foreclosure Myths
Looking for a great deal?
LegalWiz.com - This site will show you repossessed and bank owned properties in your area of interest for a nominal fee, then guide you step by step to ownership. It's worth it! The #1 Legal Resource for Real Estate Investors & Small Business Entrepreneurs.
Discover the hidden market in real /estate foreclosures at Realty Trac
Netronline.com - For tax records anywhere in the nation
www.Ofheo.gov - Housing price index. Keeps track of communities across the US
http://www.loopnet.com/ - For commercial investments.
Go to REIClub.com for investment articles.
Creative Real Estate On-Line
Go to Real Estate Investment clubs then click on Texas and look in your area.
Asset Protection
If you are an investor and own multiple properties, you need Asset Protection. Click on any subject to get the answers to your questions.
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How to invest in the Bryan/College Station, TX real estate:
This is a quick-start guide for real estate investing in the Bryan/College Station, TX market. Check out this link for Tax Foreclosures in Bryan/College Station, TX: http://www.mvbalaw.com
Picking up Pre-Forclosures
1. Determine Your Objectives
What are your objectives for investing in real estate? Below are some common objectives for first-time investors. Each will require a slightly different approach.
- Get rich quick - Ya, right. Investing in real estate is hard work and it requires both time and money. That said, we'll show you how to increase your odds for success.
- Provide additional cash flow or monthly income - You've been reading Rich Dad Poor Dad and now you're ready for cash flow opportunities. It's a good strategy but make sure to buy your properties in Bryan/College Station where the rents will cover the mortgage in a down market. If you pay too much for your properties then the cash will flow the wrong way. Talk to Myke about how to make your properties cash flow.
- Invest for the future - Real estate can be a great investment for the future as it (almost) always appreciates. That said, you've got to educate yourself, buy smart and cover your short-term risks.
- Fire my boss - Most new real estate investors have ambitions to quit their job and become their own boss. This is an admirable long term goal, but keep your job and invest in real estate on-the-side until you have a full understanding of your targeted market area and risks. Myke will guide you every step of the way.
2. Find Your Niche - There are 100 ways to make money in real estate and probably 1,000 ways lose it. You need to find your niche and master it to be successful long term. If you work every type of investment in every location then you'll never be an expert in anything - and I guarantee you'll lose money.
3. Build Your Network - Each time you talk with someone in the business, ask them if they know a good contractor, painter, lawyer, tax adviser, foundation person, etc... When you need one, call them and let them know that so-and-so referred them to you. Look under 'Resources' on my website at www.AggieRealEstate.com for contractors, handymen, etc....
4. Start Local - There are opportunities everywhere. Start looking for opportunities in your local area first and avoid purchasing property hours away. Every minute you spend on the road is time you won't be improving or managing the property. Time management may set you free!
5. Start Looking - Even if you aren't prepared to purchase, start looking for deals. Click on 'Listings' and Search the MLS for Up to date properties in your price range.
6. Start Learning - Take every opportunity to learn. Read everything you can. Search the Internet. Drive the area you are interested in investing in if you are local. Out of town investors can ask for comprehensive pictures of the property and rely safely on my knowledge of the area and market conditions to make sound investments.
7. Unless you intend to pay cash, Get Pre-Approved for a Loan - You've been watching properties and found the one you want, but it took too long to find out about the lending process, and you lost the deal! Don't let this happen to you. You can go to www.CollegeStationOnLine.com to fill out an application for a loan. Always ask your lender for a Good Faith Estimate.
