The 2012 Real Estate Investor Expo is on January 28th and 29th at the Richardson Civic Center. The tickets will be $150, but you can buy them this week for $75! Check out www.REIExpo.com! EARLY BIRD sales END on Friday, October 7, 2011 at midnight!
I am trying to grow the membership of DFWInvestors.com and provide more services. Our sponsors and vendors have offered to conduct conference calls, webinars, networking parties, and other FREE services, and we just want to see what you prefer.
Please fill out this survey to help us provide more services:
I have a two day property tour and analysis training starting tomorrow. Check out http://ftcbustrip.eventbrite.com
Let's do some business!
Have you looked at your market accounts? If you are too heavily vested, I would bet you are glued to the TV with a pack of Rolaids next to you! I am not going to get too much into it, but statistically, the DOW can only sustain a growth of 8.25% per annum. Chart it out, and you’ll see why the market is swinging like a pendulum. Look at the picture below; doesn’t the red line look like a true roller coaster at six flags?
Now, here is a look at the DOW since I have been investing in Real Estate:
That would be one fun roller coaster! Let me tell you this, in the last 10 years, I have bought and sold more than 1,000 houses. Not one of the 50+ that I have retained for long term purposes (rental, owner finance, etc.) is worth less than what I paid for it. Now, the actual value of the property may fluctuate, as does the market, but the values here in the DFW area are very strong. The DFW area can (and has) sustained a steady 2.5% – 3% growth over the past 50 years. Just like with any “bubble”, there have been corrections in certain neighborhoods where the value was inflated by overzealous investors, realtors, and lenders. These corrections seem to be over, and now the housing is stabilizing. This is largely due to the job market and local investors improving vacant houses! Get busy today designing your investment roadmap!
Good luck in your investing!
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I buy houses in the Dallas Area. If you are interested in selling your home for cash quickly, please call Read more
I looked at two houses in Irving today, and the two could not have been different. One, was a great house that the sellers were impossible to build rapport with. The other, was a house that needed 30K+ in work, and the seller was a nice guy. The seller and I got along amazingly well.
The point behind this, is the next buyer might have found the two to be the complete opposite of what I did. Depending on their personality, mood, or conflicts that morning, or on the way to the house.
Always try to understand you only have control of your own attitude and mood, and not the seller's. Just do your best, and be nice!
This was one heck of a day! Got a call from a lady from Houston the other day that owned a house in Mesquite. The house had been vacant for two years, and she didn't even know where the key was. She told me to find my way in. It was quite a mess, but entertaining. Apparently her tenants weren't too happy, because they left her a special gift on the walls of a bedroom, and the mirror in the master! Here is a video:
Hey, hope you are doing well. I am in Hot Springs enjoying some time off, but wanted to talk about wholesaling while my son is napping. As you know, I have been wholesaling inDallasfor more than ten years. I have bought and sold over 1,000 houses. George Roddy and I have just announced our new Flip That Contract Wholesale Real Estate Course. It is guaranteed to be the best wholesale real estate course you have ever taken. We have a four part training video series online right now at www.flipthatcontract.com. As part of this new product, we are giving away $1,000 on July 4th. Check out Flip That Contract and register to win the CASH! It is all free.
I am teaching the Lifestyles unlimited wholesale course on Monday, June 27th. You can all attend for free. Register at: www.lifestylesunlimited.com/wholesaling-class.
I hope to see you there, and you better enter to win the $1,000! Check me out on Facebook!
I hope you have seen the new layout of the website. It should make things easier to find. It is hard when there are over 1,200 pages of real estate investment information.
This is about the question, why wholesale. I had someone ask me that today via private message. I thought I might explain why people wholesale real estate, and why some never do.
There are a couple of categories these items will fall into:
I will explain:
- Capital: Some people simply lack the capital to purchase and renovate property. When you factor in carry costs, closing costs, down payments, and the many other expenses it takes to properly execute a rehab, it is typically about a 10% -20% out of pocket experience.
- Capability: Some investors don't have the credit, or time to execute a rehab. What many new investors don't realize, is it takes a large time commitment to advertise, receive calls, evaluate property, and the market to sell. Adding rehab management and sales management into the fold, can make one lost.
- Competency: Quite simply, some people just aren't good at it. They over spend, over rehab, and end up making less than the “rehabber” would.
- Consistency. You will always be twice as successful at things you do consistently versus things you do one off. Many investors simply lack the ability or desire to consistently renovate property.
- Concentration: Have you ever heard the phrase, “most people don't plan to fail, they fail to plan?”. I love it! Don't forget, “jack of all trades, master of none”. I highly recommend you build your team and focus around your primary exit strategy.
That is all for now. I have to go look at houses!
See you around.
PS: I have an exciting training, coaching, and mentoring program we are getting ready to debut. Make sure you sign up at www.FlipThatContract.com!
Tonight; I will be presenting my class, Wholesale Real Estate Strategies, at the REIO Meeting in Fort Worth. Please come on out and network with us. This cold weather the last two weeks has put a bit of a damper on the market. Come on out to Cowtown, and let's learn together! Tonight, 6:00 till 9:00!