Month: December 2010

by Tim Herriage Tim Herriage No Comments

She's back!

Cathy Crowe; one of the first wholesalers in the DFW area, founder of HouseFlipper.com, and the founder of DFWREIN is back!  If you have ever met Cathy, you won't recognize her now!  If you have never met Cathy, you will never forget her.  Cathy is an extraordinary teacher, a good friend, and a joy to be around.  Cathy will be presenting at the 2011 DFW Real Estate Investor Expo in Dallas, TX on January 22 and 23.  Click here (http://dfwreiexpo.eventbrite.com/) to register now.  There will be more than 250 investors, sponsors, vendors, and speakers at the Expo.  Your ticket includes:

  1. Admission on both days.
  2. Lunch is provided on site both days.
  3. Education.  You will be able to pick ten different classes to attend.
  4. Networking.  Network with some of the most experienced and knowledgeable investors in the DFW area.
  5. The classes alone are worth more than $1,000.

For more information about this event, please visit www.REIExpo.com.

Tim Herriage
DFWInvestors.com
tim@new2020rei.wpengine.com
214.607.1227

by Tim Herriage Tim Herriage No Comments

Lessons learned from 45,000 houses

Did you know that HomeVestors franchisees have bought and sold more than 45,000?  In fifteen years, that is quite an accomplishment.  As a former franchisee, I can tell you that you don't make money on all of them when you buy in volume like that.  The most I ever bought in a year was 111.  Ken Channell is a good friend of mine, and the Co-President of HomeVestors of America.  Ken will be at the Expo to have a candid conversation about what he has seen companies do right, and what has put some offices out of business!

History repeats itself, and you can't miss this class.  Ken is an excellent trainer, and will leave you better prepared to be successful. 

 

About Ken:

I developed Talent DNA based on my 28 years of coaching real estate agents and entrepreneurs. I interviewed thousands of people who wanted to know what talents guaranteed success. I studied every personality profiling system I could find. I became convinced that every human being has a unique Talent DNA that equips them with an advantage that will always allow them to achieve more when they take advantage of their Talent DNA. When they find work that allows them to spend most of their day doing what they have an advantage to do everyone wins: the person, the team and the family.”

 

Tim Herriage
DFWInvestors.com
tim@new2020rei.wpengine.com
214.607.1227

by Tim Herriage Tim Herriage No Comments

No Dinero – Or it's in too many places!

Thinking of buying an investment property in 2011?  Figure out the money part first.  You may need to consolidate your cash (or cash advances) or your proof of funds will be 20 pages long!  Looking for houses without nailing the financing first is like going to the grocery store without your purse (wallet guys)!  I does you no good to find what you want if you can't pay for it.

Are you going to buy an investment property in 2011? The first thing you need to nail down is your financing. Many investors call me and want me to find them an investment property when they don’t have a clue as to how they would pay for it if I did find them one.

When I first started looking for houses I just got out of college in the early 90’s. I didn’t have any money and lived paycheck to paycheck. I did, however, have tons of credit cards that I had never used. The first house I bought was about $25,000…can you imagine me at the bank with 10 different credit cards getting cash advances so I could take the cashiers check to the title company?

The point is that it doesn’t have to be pretty, but you do have to have a plan on where the money will come from and how you will pay for the remodel. Credit cards are one option. Another option is using hard money lending.

The first time I used a hard money lender I thought I had really hit the big times…I didn’t have to wait at the bank for hours for the bank teller to advance my 10 different credit cards…I just showed up at the title company and my lender wired the money!

And after you have some experience under your belt and you have saved some money you can go to a bank and ask for a line of credit. This can take some time to achieve, but besides paying cash, having a bank line of credit would be considered the best option for an Investor. It is the easiest and costs the least in interest.

Every year when I renew my line of credit, I am reminded of my earlier struggles with obtaining financing. It wasn’t easy, but well worth it!

If you do purchase an investment properties this year please consider me to help with the design aspect of your remodel and with listing and selling! I would love to share with you my experience.

Happy New Year!

Jennifer Raney Herriage
972.814.3612
jenniferherriage@ebby.com

 

 

Jennifer Raney Herriage
Ebby Halliday Realtors
972.814.3612
jenniferherriage@ebby.com

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