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Key Do’s and Don’ts of Probate Leads: How to Find Motivated Sellers

September 10, 2018 By 411Staff

By Kristine Gentry, VP of Innovation, US Probate Leads

As the real estate market continues to tighten, successful investors are diversifying their lead streams and trying new sources. One of the most underutilized sources of leads are probate leads. Why are they underutilized?

Primarily because people do not understand the opportunities that are available or how to quickly and easily obtain probate leads. In addition, some investors do not know what to do with probate leads once they have them. If you are considering using probate leads to increase your opportunities, or if you already have probate leads, below are some tips for helping you make the most of your leads.

What Are Probate Leads?

Probates leads include information on property that is part of a legal filing after the death of a loved one. These cases include many types of property owned by someone who has passed away including homes, vacation homes, cars, RVs, businesses, commercial property, rental property, artwork, and other personal property. These cases are listed in each county after the death of a loved one where a probate needs to be filed and are controlled by the local court.

Oftentimes, this property has to be sold in order to pay for medical, tax, legal, and funeral expenses. The court will assign an Executor to handle the sale of the property so that these obligations can be met and the heirs can receive any remaining funds.

As part of an overall investment strategy, probate leads are valuable because they come with very motivated sellers. Executors need to deal with the property that is in the probate filing in order to meet the court requirements. Many times, they need cash in order to pay bills that have been left after the passing of their loved one.

Often, they do not live near the inherited property and simply want to sell it as quickly and easily as possible. If they know the property needs updates, they may not want to have to deal with that hassle and would rather sell the property at a discount. In addition, since they inherited the property, anything they make on the property is extra for them so they are less worried about getting maximum value for the property.

Probate properties may be available for thirty to fifty percent off of the market price and are generally available for a quick closing. So, probate leads are a great way to diversity and increase your lead source. But once you have probate leads, what do you do?

Probate leads are not like all other leads and should be treated differently. Do offer to help the executor/heir. Remember they have recently suffered a loss and are grieving. Since probate leads are generated when probates are filed in a local courthouse after a death, it is necessary to be especially warm and considerate when speaking with executors and heirs. They have recently gone through a very tough time and are probably overwhelmed with the loss of their loved one as well as all the legal and financial issues they are faced with as the executor of the estate.

For some executors/heirs, the last thing they have the time or energy to deal with is a recently inherited piece of property. They may not live near the property and may not have the time to take care of basic issues with the house. For instance, suddenly having another yard to maintain can seem daunting.

You can help by offering to mow the lawn, trim shrubs, or water plants. Sometimes the heir or executor simply need someone to talk to. You can be that friendly person they can speak with. Offer condolences and let the executor or heir take the lead in how much they want to talk about their loved one. Simply asking what they need help with can go a long way. Do continue to reach out to the executor/heir. One mailing or phone call will not be enough.

Unlike other leads sources, it is hard to know when will be the right time to reach out to an executor or heir. In some cases, heirs want to sell property as fast as possible. They may be ready to sell quickly so they can move on. In other cases, heirs are reluctant to sell their loved one’s property.

They may hold onto it for months before feeling pressured to do something with the property. We have learned that it is important to regularly reach out to executors and heirs and recommend doing so for at least a year. Sending a mailer or making a phone call every other month is a good timeline. The important thing is for the executor or heir to have your contact information available when they decide they are ready to sell.

Do be honest about how you can help and why it is beneficial to you both. Executors and heirs have a lot going on. They will know that you are interested in making money and not just a stranger who showed up to help out of the blue. It is best to be honest and explain that you make money by purchasing properties below market value, fixing them up, and reselling them. And that it might be helpful for them to sell you their property below market value so that they do not have to deal with the hassle of fixing up a house to sell and then listing it.

Remind them that you can help them get cash quick, but there are no guarantees of how long it would take for the house to sell at full value.

This is a win/win situation for you and the executor or heir, and you should be up front about that. Don’t forget about historical leads. Heirs often don’t sell right away. New users of probate leads often think that the leads have a short time on the market. However, that is not the case. Generally it takes some time for Executors to get all of the paperwork filed and to go through their loved one’s things before they are ready to sell.

There is also the process of grieving, which can cause Executors to hold onto a property for a time before they are willing to sell it. With these parameters in mind, real estate investors who are looking at probate leads will find that Executors who are selling property may not be ready to sell for twelve months after the filing. In many cases, the leads are still viable eighteen months after the passing of a loved one. This allows for plenty of time for real estate investors to make contact with the Executor. Therefore, a successful probate investing practice should include the usage of historical leads. Don’t try to get leads on your own. Purchase them from a reputable source.

Many investors have attempted to gather leads themselves from courthouse records and quickly grew tired of the painstaking and time consuming process of doing so. Now, there is no need to gather these records on your own. Several companies provide probate leads for you. Most specialize in only a handful of counties – often counties where probates are available online. However, some companies have researchers trained to go to courthouses where these records are not available online, which is the case for the vast majority of counties.

U.S. Probate Leads is a family-owned company that has been in the probate business for over 15 years. We have more experience and offer high-quality ads that include skip tracing for executors and addresses.

Don’t waste your time gathering probate leads. Instead, contact us to learn about why our leads are the best on the market. Get Access to Probate Leads Today. Using probate leads is a great way to find more leads in your area as a real estate investor. With long-term viability and Executors that are motivated to sell, you will see that probates are a way to quickly find discounted properties.

If you are looking for diversity in your lead package, then you can get access to probate leads easily and quickly by vising US Probate Leads. We offer county by county listings of the probate leads listed in your area delivered directly to your inbox. Each county in the United States is covered by our trained team of lead specialists. Our team makes sure that you have the leads that you need in order to make your business grow.

Want more information?

You can visit us at www.usprobateleads.com today and get more information on our lead services or sign up. In addition to our lead service, we also offer seminars, webinars, eBooks, software and individualized mentoring for dedicated investors. Contact us today for more information and learn how we can help you to meet your real estate goals.

Probate Leads Available Now – In Your Area US Probate Leads has access to virtually any county in the United States, meaning regardless of where you live, you can start receiving leads monthly.

Go to the US Probate leads site: www.usprobateleads.com, click on your state and get started. To get a 10% discount, place an order before September 30th. Use discount code “Realty411.” Or you can contact them directly at: (877) 470-9751.

Now is the time to make your mark in this little-known niche – never before have more properties become available than will in the coming years. Becoming a US Probate Leads subscriber could really be the start of a whole new future, a more lucrative career, and an exciting investment opportunity.

– Article By Kristine Gentry, VP of Innovation, US Probate Leads

DOWNLOAD THIS ARTICLE AS A PDF NOW

We Want to Inspire You! Get Motivated & Learn About Real Estate Investing Here!

September 9, 2018 By 411Staff

DISCOVER HOW REALTY411 BEGAN AND WAS STARTED WITH A MISSION OF PROVIDING KNOWLEDGE & RESOURCES

If you would have told Linda Pliagas, the publisher of Realty411, while she was growing up in her family’s modest mobile home that one day she would be a real estate investor and travel the country inspiring others, she would have thought that would be highly farfetched.

However, this is exactly what happened when Linda left Imperial County, Calif., behind and went to the City of Angels to pursue a degree in journalism. Fast-forward a few decades, and a lot of hard work later, and Linda’s life became a complete transformation being the first in her family to attend college, own a home, begin multiple businesses, and mange rental properties.

Linda became a homeowner by age 24 near Marina Del Rey, California with a no-money down technique: using a combination of private money, a traditional mortgage, plus a second seller carry-back. Her and her husband became landlords thereafter. She is a big believer in home ownership, and has owned a home mortgage-free since her late 30s.

A proponent of long-term real estate investing, she also convinced all her family, friends and colleagues to buy real estate. She is credited with the expansion of several property management companies. Her family and Realty411 network have owned rentals in Texas since 2005 and currently individually manage properties, assisted by local managers.

Linda began Realty411 magazine in 2007. It is known as the original realty investor magazine. She combined her knowledge as a licensed agent with investing to come up with the unique title.
The magazine is complimentary to download. Realty411 is considered the go-to resource guide for those seeking to learn to invest. Realty411 and its sister title, REI Wealth Monthly, has readers in every state of the nation, as well as in Canada, United Kingdom, Israel, Australia, India, Singapore, Malaysia, France and many more.

One of the highlights of Linda’s journalism career has been interviewing some of the most popular real estate investors in the nation, such as Mina Starsiak Hawk and Karen E. Laine, the mother/daughter duo from HGTV’s Good Bones, as well as countless other go-getters.

“I’ve had an incredible opportunity to work with Clint Harp form HGTV’s Fixer Upper, when he was our first keynote speaker, and that was such an amazing experience. We’ve also hosted HGTV’s Listed Sisters at our event in Manhattan. Working with rehab celebrities and interviewing real people who are forging ahead to live incredible lives is such an inspiration. It really keeps me focused and motivated to do more,” she says.

Recently, Realty411’s team were also chosen by an award-winning television production company to assist in the creation and production of a TV pilot, which they named Property Pitch. The project is completed and is in talks with a larger production company to secure guaranteed airtime on a major network – as long as advertisers can be attracted.

Linda’s mission to expand education is the reason that the Lone Star Real Estate Expo is a complimentary event, even after its fourth year of production.

“Realty411 is an extension of my life… it is my past and my future, I really want to share it all with people. I want to motivate and inspire
them because if I can completely change my life with a few good real estate moves, so can they!”

While other producers charge hundreds, even thousands of dollars to attend similar conferences, the Lone Star Real Estate Investor’s Expo will continue to be complimentary, thanks to the generosity of committed sponsors. An incredible day awaits guests of the Lone Star Expo: Life-changing content, topnotch valuable connections, fantastic resources, and so much more.

Registration begins at 8:30 am. Early-bird guests will enjoy complimentary continental breakfast AND lunch. The education will continue on Sunday with a joint bus tour being hosted by Jimmy Reed. For information about the property tour, please CLICK HERE.

Investors will arrive from throughout the nation as well as the local area.

For more information, please call Realty411 @ 805.693.1497 or email [email protected]

SEE YOU ON SEPTEMBER 15TH, 2018!!!

Additional events in New York, Florida, California and Nevada are also on the calendar this year, for further details, please visit:

Realty411Expo.com

Join Us this Saturday in Santa Barbara for a Day of Networking and Deal Making

August 23, 2018 By 411Staff

Don’t Miss Our Exciting Event in

The American Riviera!

Join Us for Our 9th Annual SB REIA Expo

This COMPLIMENTARY EXPO is Designed for YOU

We Want to Help You BUILD Connections with Industry Leaders.

NETWORK WITH REAL ESTATE INVESTORS FROM THE CENTRAL COAST

* Mingle with Local Companies * Meet Local Leaders & Out of Area Investors

We Want & Can Help YOU Succeed As We Have. Bring Lots of Cards.

Hosted by Realty411 and SB REIA

Celebrate Real Estate Investing On the Beach

We Produce the Only Real Estate Expo in the Central Coast of California

SANTA BARBARA COUNTY IS REALTY411’s HOME BASE

Join Us at Our Outdoor & Indoor Beach Business and Complimentary Real Estate Expo & Mixer! Learn, Network, Grow – Suntan, Surf, and Sail…

LOCATION:

Hilton Santa Barbara Beachfront Resort

633 E Cabrillo Blvd, Santa Barbara, CA 93103

DATE/TIME

August 25th, 2018 – Starts @ 10 am

THIS AMAZING EVENT WILL ELEVATE YOUR KNOWLEDGE

Network with Local and Out-State-Investors
Learn from TOP Industry Insiders
Discover How to Build Wealth with Real Estate
Find Out How to Diversify with Multiple Streams of Income
Open Up the Door to NEW Opportunities and Possibilities
SAVE Dollars by Learning Here – We’ve Been Investing Years
We Have Owned Properties in CA Since 1978!
This is Actually How We “GIVE BACK.”

DISCLOSURE: OTHER EVENTS CHARGE HUNDREDS EVEN THOUSANDS OF DOLLARS TO LEARN THE SKILLS AND TECHNIQUES YOU WILL LEARN HERE… FREE!

Join Us as We Honor Dan Ringwald, The founder/president of SB REIA

Dan, a local SB investor, owns and operates a number of businesses. He is able to do this through his Free Online Training and Coaching, the generosity of his Family, Staff, SBREIA Members, Partners, Friends, and Volunteers.

Businesses:
National Home Buyers, LLC – Home of the Rent Ready and Turnkey Properties
Santa Barbara Real Estate Investors Association – Education and Networking
Personal Power Project – Go Green and Kick Gas
Santa Barbara Computing Services – Web Design, Multimedia Marketing, Computing Support

Dan Ringwald started his investing career in 1978 owning and managing Real Estate. He now owns Real Estate nationwide through his main company National Home Buyers, LLC and is building teams of Investors via Joint Venture Agreements. He is also building teams of property locators through his coaching, mentoring, and the Santa Barbara Real Estate Association which he created in 2006.

In running his Personal Power Project business Dan Ringwald knows from personal experience having solar on his home and driving an all electric Nissan Leaf that we have all been duped for 100 years. When you finally head down the path of Going Green you will see for yourself the huge savings you will gain and the Personal Power and independence that comes with it. Dan provides Personal Development coaching as seen at http://personalpowerproject.com/power-of-our-word.

Dan Ringwald also offers web design, multimedia marketing, and computing support through his business at Santa Barbara Computing Services. He gained his computing experience while working at the University of California Santa Barbara for 26 years where he created a computing support department in Kerr Hall.

His claim to fame there was helping create the main campus website www.UCSB.edu where he and his staff ran and managed it for 4 years along with networking all classroom lecture halls back to Kerr Hall for network management operations.

GUESTS RECEIVE OUR NEWEST ISSUE!

Learn from the Local Leaders such as Musette Profant, C.A.P.S.
Custom Remodels & Quick Home Facelifts!”

After attending USC School of Architecture, Musette Profant started Sterling Sites, a residential design and construction company.

After working with many contractors, she selected Bardo Sixtos as her lead contractor because of his multi-disciplinary experience and creativity. Together they and their crew rapidly design and execute rehabs and remodels for homeowners and investors in SB County, and are available to work anywhere in the United States.

Ms. Profant is certified by the National Association of Home Builders as an Age-In-Place Specialist, providing practical, beautiful solutions for seniors who want to stay in their homes.

Musette is a co-founder of a non-profit organization, the Profant Foundation for the Arts, which provides scholarships to artists, dancers, writers, actors, and musicians of all ages. She is also a volunteer for Tony Robbins, a donor to World Animal Protection, and a portion of the proceeds from each Sterling Sites project goes to Habitat for Humanity.

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LAST YEAR'S EXPO WAS AMAZING! YOU DO NOT WANT TO MISS THIS!

DISCOVER HOW EASY IT CAN BE TO FLIP HOMES WITH JEREMY RUBIN, “THE FRIENDLY FLIPPER”

Jeremy Rubin aka “The Friendly Flipper” is a real estate expert and central coast native. He purchased his first investment property in 2011 and has been successfully flipping homes in California for the past 3 years.

In addition to running his investment business, Santa Maria Property Solutions, LLC he is also developing a virtual training program “Friendly Flipper Academy”, to teach others how to invest in real estate. He will be joining us and talking about how to grow your RE business using social media and answering all your questions on flipping homes!

Paul Finck is The Maverick Millionaire ®

Paul Finck is the Maverick Millionaire. Paul brings to the table a vast array of skill sets including 30 years of sales, marketing and entrepreneurial experience. He has consulted and trained a great many industries, including the Medical, Dental, Real Estate, Financial, Retail, Information Marketing, Direct Sales, Multi-Level Marketing and Speakers/Coaches/Trainers. He is a former mortgage broker, real estate agent and real estate investor.

Starting with a desire to be great, Paul learned from several of the biggest names out there and Dared to be Different – he dared to be a Maverick. His successes include moving multi-millions of dollars in Real Estate, and over $15 million in informational products in the last 8 years. With his primary focus on multiple streams of income, he has built up several businesses in Information Marketing, Network Marketing, Real Estate Investing and now speaks and coaches internationally, teaching others how they can create this success in their own lives while they Do It Different and Be Maverick!

Paul is well known for his success and his awesome family. He and his wife Deborah have appeared with their 3 sets of twins on Good Morning America, CNN, CNN Live, The Jane Pauley Show, The Montel Williams Show, local Channel 8 and Channel 11 News, Parents Magazine, and most local newspapers in his home state of Connecticut. All of them agree that any time spent with Paul Finck will Dare you to be Different, Dare you to be Great and Dare you to be a Maverick.

When you want direct answers to the tough challenges in order to get the results you are asking for in your life, Paul Finck is the one you want! With more than 30 years being an entrepreneur, he knows what it takes to build a business with sustainable success. As a husband and father of three sets of twins, he knows how to keep it in balance and perspective. His untraditional methods have brought not only personal success, but as an international trainer, Keynote Speaker, Best Selling Author, Multi-level Marketing leader, Life Coach, and Business coach, he has worked with individuals and companies all over the world on finding unconventional answers to everyday challenges.

Paul Finck currently offers private and group coaching sessions, and appears on stages around the country speaking on using unconventional methods to create and build a new business, motivation, eliminating fear, Sales, Networking, Time Management, Real Estate, living the life of your dreams and quantum leaping your success. He is available for public, private, and corporate speaking engagements, workshops, and seminars on a wide variety of topics incorporating his Maverick Difference philosophy and his axiom of “Conceive, Believe, Achieve.”

DISCOVER HOW TO INVEST IN REAL ESTATE AND GET MAXIMUM RETURNS WITHOUT TOILETS, TENANTS OR TRASH!

Christopher Meza, a Los Angeles native, has over 15 years of investment experience. With a Bachelors of Science in Computer Science and Electrical Engineering, he has worked for Fortune 100 companies like IBM and The Boeing Company. Due to his remarkable investment savvy he has retired at a young age and now spends his time investing and teaching others how to achieve financial security.

Christopher Meza is a nationally recognized speaker and Land Banker. He was chosen as one of the world’s leading experts in land investing to keynote the “Success In The New Economy” conference with Steve Forbes, Chairman and Editor-in-Chief of Forbes Magazine.

Christopher is also a co-author of the Best-Selling book “SuccessOnomics” with Steve Forbes. Christopher Meza has also been interviewed on the Brian Tracy Show hosted by the legendary Brian Tracy. Christopher’s feature interview can be seen on ABC, NBC, CBS, and FOX affiliates across the country.

MEET THE CEO OF THE AVFUND GROUP

MR. RAUL AVILA

Learn How The AVFund Group Can Help You CLOSE MORE DEALS!

The Avfund Group is the premier Company for real estate investors/ flippers in California.

With over 35 years of extensive experience, The Avfund Group can assist you in funding your acquisitions. Whether it’s just remodeling and upgrading or adding square footage to the existing structure we can fund 100 % of the construction costs.

Avfund’s Fix & Flip loan programs assists you in the acquisition of distressed properties consisting of SFR and up to 4 units. It is our goal to assist you in leveraging your capital in order to acquire more properties. While most lenders only lend from 60 to 65% of the “after repair value” (ARV) of the property, Avfund will lend up to 75 % of the ARV.

Avfund prides itself in being more than a very competitive lender; we assist our investors in acquiring, purchasing, fixing and the resale of their properties. Avfund also can assist in other private lending for equity loans, bridge loans and new construction.

Network and Learn with Linda Pliagas, the Founder of Realty411

Realty411 is the Original “Realty” Investor Magazine founded in 2007

Realty411 was founded in 2007 by Linda Pliagas, who is the Publisher/CEO. Linda and her husband have owned multifamily, single family homes and land in California and out of state for many years.

Linda holds a bachelor’s degree in print journalism from California State University, Long Beach. She was a recipient of the Bobit Magazine Scholarship for her accomplishment in publishing her first national magazine while still at CSULB. She also studied real estate, accounting and general studies at Santa Monica College.

A journalist since the age of 18, Linda has also freelanced for numerous national magazines, local newspapers and global websites.

Other Business Ventures:

Linda also owns an interest in several other business ventures, including an internet marketing company that specializes in reaching consumers and companies via email, SMS marketing, voice and fax blasts. She also operates and manages many lead generating websites, in real estate, business and finance, as well as dozens of online networks with tens of thousands of followers worldwide.

In addition to their ventures in real estate and media, Linda and her family are owners of HRS Clocks (Horological Restoration Services) the oldest timepiece repair and restoration shop in Santa Barbara County.

Their shop in Solvang, Calif., repairs some of the most valuable antique timepieces in existence. Their sophisticated clientele includes international antique collectors.

ACT FAST! Free tickets almost GONE!

August 6, 2018 By 411Staff

Hello Investor;

I sent you an email last week about how you can get FREE tickets to the greatest real estate event of the year (for real). In case you haven’t grabbed yours yet (what are you thinking?) I wanted to send this your way one last time.

When I sent that email last week, there were 30 tickets available. Today there are only 8. So if you want to grab your free ticket you need to act now.

In case you missed last week’s email, here it is again (instructions below 🙂

———- Forwarded message ———-
Date: Wed, Aug 1, 2018 at 10:30 AM
Subject: FREE tickets to the greatest event of the year!

{First Name},

It’s not very often that you see an opportunity that can literally change your business (and your life) in only 72 hours…

It’s even LESS common that you see something like this for FREE.

But believe it or not, I have something just like that for you today.

Once each year, the top Real Estate investors in the world step away from their businesses, and gather together at a private event called The Clever SUMMIT. Some of the brightest minds share their success secrets at this event, including people like Dean Graziosi and Tony Robbins Speaker, Joseph McClendon III, to name a few.

The owner of the event is named Cody Sperber, aka “The Clever Investor”, and you probably have heard of him.

Since I’m good friends with Cody, he offered me 30 free tickets to hand out, and I couldn’t help but think of you. It may require a small seat deposit, but this is 100% refundable after you attend the event. You can see more details about the event here.

I’m always looking for free value to give to you, so I couldn’t pass up on sending this amazing opportunity to you.

So here’s what you need to do…

To claim your FREE ticket, all you have to do is contact Cody’s amazing event coordinators at [email protected]

Now I promised Cody I would only give my tickets away to serious people (because the event is 100% going to sell out). So they know I’m sending quality people, please include the following info in your email…

Your Full Name
Your Cell Number
Real Estate experience if any (not required)
Your goal for monthly income from real estate deals
Your current occupation

Just as a quick recap, here’s what you need to do to claim your free ticket:

Step 1: Email [email protected] with the info requested above.

Step 2: Expect a call from Cody’s support team to help get you set up.

Step 3: Prepare to be blown away!

You’re Welcome 🙂

Linda Pliagas
Realty411.com

P.S. You might want to hurry because by the time you’ve read this email, a good chunk of my free tickets are probably already GONE. So claim yours before yours is gone too!

10 Rules of Successful Real Estate Investing

July 27, 2018 By Realty411 Team

By Marco Santerrelli, CEO of Norada Real Estate Investments

I came up with the following rules of successful real estate investing over my many years of successes and failures. These are the same rules I follow today and share with our clients at Norada Real Estate Investment.

1. EDUCATE YOURSELF Knowledge is the new currency. Without it you are doomed to follow other people’s advice without knowing if it’s good or bad. Knowledge will also help take you from being a “good” investor to becoming a great investor, and that knowledge will help provide a passive stream of income for you or your family.

2. SET INVESTMENT GOALS A goal is different from a wish; you may wish to be rich, but that doesn’t mean you’ve ever taken steps to make your wish come true. Setting clear and specific investment goals becomes your road map and action plan to becoming financially independent. You are statistically far more likely to achieve financial independence by writing down specific and detailed goals than not doing anything at all. Your goals can include the number of properties you need to acquire each year, the annual cash-flow they generate, the type of property, and the location of each. You may also want to set parameters on the rates of return required.

3. NEVER SPECULATE Always invest with a long-term perspective in mind. Never speculate on quick short-term gains in appreciation, even in a heated market experiencing double-digit gains. You never know when a market will peak and it’s usually 6 to 9 months after the fact when you find out. Don’t chase after appreciation. Only invest in prudent value plays where the numbers make sense from the beginning.

4. INVEST FOR CASH-FLOW With few rare exceptions, always buy investment property with a positive cash-flow. The higher, the better. Your cash-on- cash return is directly related to the before-tax cash-flow from your property.

Cash-flow is the “glue” that keeps your investment together. Your equity will grow over time (through appreciation and loan amortization), while the cash-flow covers the operating expenses and debt service on your property.

5. BE MARKET AGNOSTIC The United States is a very large country made up of hundreds of local real estate markets. Each market moves up and down independently of one another due to many local factors. As such, you should recognize that there are times when it makes sense to invest in a particular market, and times when it does not.

Only invest in markets when it makes sense to do so, not because you live there or you bought property there before. There’s an element of timing and you don’t want to buck the trend.

6. TAKE A TOP-DOWN APPROACH Always start by selecting the best markets that align with your investment goals. Most investors start by analyzing properties with little to no regard of its location. This can be a big mistake if you don’t consider the investment in light of the market and neighborhood it’s in. The best approach is to first choose your city or town based on the health of its housing market and local economy (unemployment, job growth, population growth, etc.). From there you would narrow things down to the best neighborhoods (amenities, schools, crime, renter demand, etc.). Finally, you would look for the best deals within those neighborhoods.

7. DIVERSIFY ACROSS MARKETS Focus on one market at a time, accumulating from 3 to 5 income properties per market. Once you’ve added those 3 to 5 properties to your portfolio, you would diversify into another prudent market that is geographically different than the previous one. Typically that means focusing on another state.

One of the underlying reasons for diversification within the same asset class (real estate), is to have your assets spread across different economic centers. Every real estate market is “local” and each housing market moves independently from one another. Diversifying across multiple states helps reduce your “risk” should one market decline for any reason (increased unemployment, increased taxes, etc.).

8. USE PROFESSIONAL PROPERTY MANAGEMENT Never manage your own properties unless you run your own management company. Property management is a thankless job that requires a solid understanding of tenant-landlord laws, good marketing skills, and strong people skills to deal with tenant complaints and excuses. Your time is valuable and should be spent on your family, your career, and looking for more property.

9. MAINTAIN CONTROL Be a direct investor in real estate. Never own real estate through funds, partnerships, or other paper-based investments where you own shares or other securities of an entity you don’t control. You always want to be in control of your real estate investments. Don’t leave it up to corporations or fund managers.

10. LEVERAGE YOUR INVESTMENT CAPITAL Real estate is the only investment where you can borrow other people’s money (OPM) to purchase and control income-producing property. This allows you to leverage your investment capital into more property than purchasing using “all cash”. Leverage magnifies your overall rate-of-return and accelerates your wealth creation. As long as you have positive cash-flow and your tenants are paying off your mortgage for you, it would be foolish not to borrow as much as possible to buy more income property.

For more information, visit: http://www.noradarealestate.com/

Join Us this Saturday in Santa Barbara for a Day of Networking and Deal Making

Don’t Miss Our Exciting Event in

The American Riviera!