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How 15 Rent Houses Can Retire You Faster than a $1 Million 401k
A Step by Step Road Map for Success in a New Decade!
The Five Laws of Gold
No Excuses! - Why Doing the Little Things Makes a Huge Difference
The Path of Least Resistance
The Case for Real Estate Investing as The Best Vehicle for Financial Freedom
Del Walmsley’s Three Rules of Investing
How a Real Estate Investor Should Take a Phone Call from a Prospective Tenant
Single-family Property Management Fundamentals: “Hassle-Free” Landlording
Using Your People Skills to Operate Real Estate Will Carry You Far!
Before You Cosign a Loan, Understand Your Obligations
70 Leasing and Management Tips For Single-Family Investment Property
Understanding How Credit Reporting Works
How to Cultivate a Team of 20 Agents To Locate Real Estate Deals
Do’s and Don’ts of Real Estate Investing
The Timeless Principles of Wealth
Welcome from Founder Del Walmsley
Investing in Property ‘As Is’
A Cure for First-house-itis
Dibs!: Understanding Right of First Refusal
Principles of Basic Property Negotiation
How to Make an Offer on Single Family Investment Real Estate
Who is In Control of Your Money?
Chunking: Using Passive Income Streams from Real Estate to Pay for Chunks of Your Bills
Is This A Good Time to Invest in Real Estate?
Austin vs. San Antonio for Single Family Real Estate Investing
Tips for Real Estate Investors who Want a Successful Working Relationship with Contractors
Estimating and Executing Rehab on a Single-Family Investment Property
Leveraging the Knowledge of a Mentor - The Real Estate Investor Radio Show
The Real Estate Investor Radio Show
The Difference Between Investing for Cash Flow and Speculating - The Real Estate Investor Radio Show
Retiring from Corporate America - David and Chris Talk with a Lifestyles Investor - The Real Estate Investor Radio Show
“Cradle to Grave” Financial Environments - The Del Walmsley Show
7 Principles to Run Your Family and Your Business, Continued - The Real Estate Investor Radio Show
Real Estate News - Nancy Sarnoff of the Houston Chronicle - The Real Estate Investor Radio Show
7 Principles to Run Your Family and Your Business - The Real Estate Investor Radio Show
Real Estate Investing Q&A - The Real Estate Investor Radio Show
20 Years of Helping People Invest in Real Estate - The Del Walmsley Radio Show
Who’s Your Favorite Guru?
Poll Question: What is Your Preferred Method of Financing Investment Property?
Poll Question: What is Your Primary Strategy for Locating Deals?
Poll Question: What is Your Biggest Incentive to Build Wealth with Real Estate?
Poll Question: What is your Biggest Fear About Investing in Real Estate?
“Experts See Rebound Brewing in Region’s Home Sales After Low 2009″
“Dallas-Fort Worth Home Foreclosure Filings Ease Slightly Over Last Year”
“Austin Ranked Best City to Invest in Commercial Real Estate”
Are the Homes in the Most Overpriced Cities in America “Overpriced” or “Underanalyzed?”
Texas Cities Remain Top Single Family Housing Markets
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The original “Texaplex” video by David Winans showcased why the Texas economy is the best in the country. It was immensely popular, with over 110,000 views on YouTube!
Now, he has released a new video about Houston that shows why Houston is so strong. All the reasons that make Houston’s Economy roll full steam ahead are the same reasons you should have your money in Texas real estate.
You can find more information about Texaplex and David Winans at Texaplex.com.
“We buy for cash flow…
…we are not people who buy low to sell high.
We are not people that buy hoping that it goes up in value.
We buy and make money from day one because we buy these properties with positive cash flow.
They cash flow from month one period.
And when the up and down times come, we still make money with them because they cash flow in the down times as well.”
We joke around the office that we’re all about to get a big raise. The reason we consider it a joke—even though we really feel like it is going to come true, and we’re referring to a raise in our real estate—is because we’re not speculators.
“Sand states” Nevada, Florida, California, and Arizona, were rated the hot spots for 2009’s foreclosure explosion. At five times the national average, 12% of Las Vegas homes filed for foreclosure at least once last year. Despite a 21% increase in yearly foreclosures, “20 cities recorded declines in foreclosure filings in the last three months,” reports Yahoo Finance. In addition to this drop, experts are beginning to see a stabilization in the causes of foreclosures- now primarily due to job losses as opposed to “bubble related” filings. The article also mentions that areas with more stable home prices have had fewer foreclosures over all– a possible indication of further declines to come.
Following the FHA’s recent suspension of the “90 day anti-flipping rule,” REI Tips provides important analysis of the document from a real estate investor’s perspective. While it used to be that investors couldn’t even sign a contract to resell property to a “buyer using an FHA loan” until the seasoning period was up- now, to boost sales, the waiver may even be facing extension. While this development significantly shortens the flipping process of buying and selling, investors will still be unable to conduct “same day closes to an FHA end buyer.” Further, if your rehab bumps up the resale price higher than 20% you must be able to prove to an “independent appraiser” that the increased price is justified. Refer to the article for more detailed analysis of these rules.
The Square Feet Blog evaluates an S&P report that “the worst may still be yet to come for U.S. commercial real estate.” The study states that vacancy rates for multifamily have jumped to 7.4% (0.4% higher than 1991’s peak.) At the same time, rents have decreased in many commercial sectors. While percentages of non performing loans and construction losses are staggering– they have yet to measure up to expert’s predictions, suggesting that these factors still have substantial room to climb. The S&P predicts delinquencies in multifamily to continue to rise as in the commercial construction sector.
Communication is the key when working with any vendor, but is especially imperative with a contractor.
Investors are suspicious of contractors, worrying that they’re about to be taken advantage of. Contractors may have valid concerns about working with investors as well.
Everyone wins when you are both working on the same page.
Here are some tips for successfully working with contractors.
This is critical. Too many people sign up with a contractor to have a certain job done, and in the middle of the job they realize that they want something else. That’s a big deal, and can wreak chaos on a contractor’s plans, perhaps causing him to have to undo some of what he’s done or to spend more time than he’d budgeted on your home. Changing the scope of work can cost you a lot. Keep it simple. When rehabbing investment properties remember - clean and functional, you will not be living here.
Shonda Novak of The Statesman reports on the recent upswing of single family home sales in central Texas (up 6% from 2009.)
This year, largely due to the introduction and recent expansion of the home buyer tax credit, many experts see signs of “improvement in sales volume and stability in home prices.” After experiencing the first sales increase in two years in September of 2009, home sales have continued to rise due to a combination of low interest rates and prices, as well as a “healthy supply of homes.”
Despite record numbers of foreclosures in the Austin area as well as the rest of the country, economists say that the city consistently “does better than elsewhere.”
Real Estate Investors from Lifestyles Unlimited walk you though their single family and multi-family deals in this 26 minute video compilation.
Now, you can watch the world-famous real estate investor video podcasts back to back in a 26 minute episode!
Watch as these investors make thousands of dollars and improve their lives through real estate.
BONUS: Multi-family real estate investor and Lifestyles Unlimited founder Del Walmsley explains why diversification doesn’t work AND explains the 3 step cycle of money. Your money should not be anywhere else!
Watch the video above, or download the video to watch on your computer, iPod, or burn to a DVD and watch on your TV!
The Real Estate Economy Watch reports on the continued decline of home prices, but retains hope for the future in that prices are expected to level off later this year. The article documents this trend’s impact on the housing industry, such as the development of discouraged home buyers, and homeowners unable to “trade-up” due to the loss of equity in their current homes. Author David Lerean mentions the dilemma faced by investors to either avoid properties losing value or to buy at massive discounts. Lerean continues to reflect on the expected and unexpected effects falling prices have had on the housing crisis.
The Mortgage Reports cover recent amendments to FHA guidelines that make it ever more difficult to acquire a loan. In response to the FHA’s “dwindling capital reserves” borrowers must now “look better on paper and have more cash at closing.” As expected, the insurance premium for mortgages will increase, but there will be no increase of the minimum down payment. The article also addresses the concept of “investor overlay-” the idea of banks beginning with FHA guidelines but then later adding their own rules to further reduce their risk. This practice is sure to continue, given a new rule that will close any bank whose “defaults exceed the mean by a certain number of sigmas”
The National Real Estate Investor expands on the prediction of multifamily rent spikes resulting from a shortage of new inventory. Doctor Victor Calanog suggests now is the time to invest in multifamily, as the still appealing pricing, and easier financing, form unusual investment opportunities when paired with the imminent upswing in rental rates. The article continues to list why a combination of previously high vacancy rates, lowered asking rents, and loan defaults, have now led to prime investing opportunities.
“They’re constantly telling you how bad the economy is…
…it gives you sort of this impression that you should just stay put and see what happens.
I’m here to tell you no.
You need to create a sense of urgency in yourself that the down times are when people get rich—massively rich—in short periods of time.”
Today I want to help you create a sense of urgency in your life that 2010 is the time to do something and to do something different. We talk quite consistently on the concept of constantly asking yourself every month, “Am I better than I was the month prior? Am I getting closer to my goals?”
On a 2009 Realty Trac list of highest foreclosure rate by state, Texas ranked 29.
Nevada headed the list, followed by Arizona, Florida, and California.
Altough not a front runner, Texas’s rate “is still up from previous years…18% from 2007,” says Nancy Sarnoff of the Prime Property Blog at the Houston Chronicle.
Although legislative delays may have lowered the yearly rates, “nationwide, properties in some stage of foreclosure rose 21% from last year and 120% from 2007.”
Click here to read the full article. Sarnoff also includes a map shaded to show you areas with the highest and lowest foreclosure rates in Texas.
My Life Roi provides a short time line of investment bubbles dating back to the 1600’s with short explanations of how investors have learned from them. Bubbles we’re familiar with such as the California Gold Rush and the dot com bubble are contrasted with lesser known mistakes like the speculation that led to the collapse of the Dutch Tulip Market. Entertaining and informative, this article offers an insightful look at history’s greatest investing blunders.
Although critics claim that many of the lofty goals laid out in Obama’s Home Affordable Modification Program have not been met, many analysts say that by restricting the amount of foreclosed homes in the market, the measure has actually increased home prices. Assuming that HAMP’s goal of assisting distressed homeowners by lowering monthly payments will do little to prevent defaults in the long run, many experts view the program as a way to delay “new foreclosures hitting the market.” Read more at the Wall Street Journal online.
Despite recent buzz about real estate investing abroad, the Real Estate Bloggers report on a study of foreign real estate investors naming the U.S. the “most stable and secure real estate environment” in the world. Still, the percentage of people who agree with this statement continues to decline (down 13% from 2007!), while Germany and Canada maintain their high ratings.
Ask Steve Now!