Real estate brokers
Big changes are coming in the way you buy and sell your home--partly because, unbelievable as it may seem, real estate brokers aren't profiting much from the current bull market in real estate. Star agents are pocketing most of the commissions and passing less on to their brokers, who have also been forced to invest heavily over the past few years in computers, voice mail, Web sites, digital cameras and other new technology. Perhaps you're not inclined to shed a tear over brokers' weakened profits. But whether you're a buyer or a seller, you should be on the lookout for ways brokers are trying to shore them up. Some are giving up on trying to wrest more away from their agents and are looking to sellers for higher commissions. ....

Business Credit Card Dirty Tricks
My system teaches people that the proper use of credit is the fastest way to speed up your profits in real estate investing. And you can use this system no matter what your own credit score is. What you must understand is how to use a newly created business name to go out and get business credit cards and lines of credit for your real estate investing activities. My step by step program shows you exactly how to do this the right way. So you can get the cash you need to buy and flip property for a quick profit. Some people wonder why it is so good to get cash for real estate investing with this trick. Well here are a few reasons - 1. No matter how much cash I get with these business cards, this debt has no impact on my credit score. It is invisible and will not show up on anyone's personal credit report. 2. Low cost to access cash from business lines of credit, unlike your typical refinance charges. 3. I want to defer any expense I can with a business credit card...

How to Find the Sweet Spot in Real Estate Investing
So how do you find a sweet deal like this? Well, you could spend days on end looking at multiple properties. But that's not what my students do. My students get coached on how to attract sellers so the sweet deals find them! You see, half of the money that is made in real estate investment is with property that never made it onto the Multiple Service Listings. It is insiders only money. Inside the knowledge circle is where you want to be. Think about this: Most people have never sent out a letter asking homeowners to sell them their homes … or put signs on their cars ... or passed out flyers ... or placed creative ads in the paper. It's not rocket science. It's about what you know and who you know. You need to know how to attract these deals to you without ever breaking a sweat. Because the best deals are NOT listed with your local realtor. And, you need to know what to ask the seller on the phone, so you don't waste a moment of your valuable time. My favorite cash cow is a 3 bedroom house that needs simple updates. Things like carpet, paint, new light fixtures and bright new plumbing fixtures from a place like Home Depot will dramatically increase a good home's value. Don't outbid other buyers. And don't buy a house you can't...

Personal Debt Can Disappear When You Set up a New Business
I teach students how to set up a new business name on paper and then move their personal debt into the business name. This will dramatically improve your personal credit score and help you make money as a real estate investor. It's as simple as using my system to set up a new business name and then use my list of companies that offer new business lines of credit. Then when you start receiving these business credit cards and lines of credit you can transfer a personal credit card balance onto your new business card. And make that debt you owe disappear from your credit report! ----------------------- Of course you will still have to repay it. But the power of this technique is that your credit score will go up when this personal debt gets transferred out of your name and into the name of a new business. And you will keep your personal credit score high when you continue to go out and get business lines of credit to use for your real estate investing activities...

The Listing Contract: It's All in the Details
Now that you’ve chosen a real estate professional to sell your home, you’ll need to work together to complete a listing agreement. This legally binding contract authorizes a broker and his or her real estate professionals to find a buyer for your home, according to the conditions specified in the contract. Depending on the type of listing agreement, you can expect to see most of these terms detailed in the document. Terms of the Agreement The length of time the contract will be in effect typically runs anywhere from 30 to 90 days, depending on the local market. Since a contract can be extended before it expires, you may not want to lock yourself into an automatic extension. Under Terms of the Agreement, you’ll also find the price of the home. You and your real estate professional should arrive at the home’s market value after considering the Comparative Market Analysis (prepared by your representative) and other factors. Commission It may come as a surprise that commissions are not set by the industry. Real estate professionals expect to earn between 6% and 7% of the sale price, depending on what’s customary in the area. If another real estate professional finds a buyer, the commission is split between the two. Although commissions are negotiable, this practice tends to be reserved...

Preserve Equity, Build for the Future Using a 1031 Tax Exchange
Thinking of trading up on an investment resort property? If so, look into 1031 Tax Exchanges (based on IRS Code Section 1031), which allow taxpayers to defer taxes on capital gains resulting from the sale of investment real estate, often a sizable sum since combined Federal and State taxes can run as high as 38 percent. With an exchange, owners are able to preserve equity, while still selling the property. The underlying concept is that an exchange of like-kind property for like-kind property does not generate funds, which can be taxed since the profits go directly into the new or replacement property. To accomplish this, sellers hire a Qualified 1031 Intermediary (QI) to document the sale as an exchange and to receive the funds from the sale. The QI then delivers the funds directly to the closing agent for the replacement property who deeds the property to the taxpayer. Central to a 1031 Exchange is the interpretation of like-kind property. While the common assumption is that like-kind implies land for land or a condominium for a condominium swap, the interpretation of like kind is actually less literal...

Don't Forget to Ask About Restrictive Covenants
Homebuyers, especially first-timers, may not think of asking about restrictive covenants. But these clauses dictate what can and cannot be done to or on a property. When buyers purchase property governed by restrictive covenants, they consent to conduct their lives in accordance with those provisions. A restrictive covenant, which is a type of deed restriction, regulates a group of new and existing homes or building lots. Developers use them to preserve a development or subdivision as a model community and control its use and appearance. Buyers agree to the sometimes-rigid restrictions in order to maintain the aesthetic standard set by the developer and to safeguard the value of their homes. Restrictive covenants should not be confused with local zoning and government regulations. Some covenants and zoning regulations overlap; for instance, either can limit the height of a building. But, restrictive covenants tend to exert greater control over a homeowner’s lifestyle...

Top Tips for Buying and Selling a Home
-Use Internet for overview of properties, communities, and schools. -Visit potential neighborhoods at different times of day. -Research price trends in communities and neighborhoods. -Consider resale prospects on home before you purchase. Get your new home inspected before you buy. -Hire a home inspection professional who is certified or licensed. -Attend inspection, ask questions and take notes. -Use inspection tour to verify home fits your needs. -Submit inspection problems to seller for remedy. Research home financing options before making a decision. -Fixed rate. The interest rate you pay is fixed over the term of the loan. -Adjustable rate. Interest rate changes at end of adjustment period. -Seller financing. Mortgage contract between property seller and you. -Avoid paying Private Mortgage Insurance. An insurance fee charged monthly to higher-risk borrowers less than twenty percent down payment...

Prepare Your Property Like A Pro And Boost Profits
The housing market is hot, and you've decided to list your home. But what, if any, improvements should you tackle before selling? Should you just leave it all to the new homeowner? There are two ways to look at pre-sale home improvements. You can either improve the curb appeal or the home’s outward appearance with quick and often low-cost improvements, or you can make some higher-dollar changes with the goal of adding value to the home and increasing your asking price. The reality is that all houses benefit from a little "spiffing up" before being shown to buyers, and smart home sellers will take the time and effort to do so. If you are selling a home that requires a major repair for recent damages, consider contacting a public adjuster to determine if the loss is covered by insurance. If so, the resulting repairs could significantly boost your home’s resale value...

The Listing Agent's Role in Selling Your California Home
Every home seller likes to be assured that their listing agent and or their real estate company will run ads featuring their home. Newspaper ads range from color photo ads to lots of listings reflected on a page with primarily only copy. Classified ads featuring your home are another tool. Ads may also appear in local real estate magazines and on the Internet (ideally on several sites). Of course, Realtors and their brokerages will run ads featuring your house, but not necessarily for the reasons the seller expects. The primary motivation for advertising is to make the telephone ring. Advertising creates phone calls and some of those callers become clients of the agents answering these calls. This builds up a pool of homebuyers looking for property in general. Multiply this by all the agents and companies who also advertise homes, and there is a large pool of homebuyers in the market at any given time – all of whom have contacted a Realtor. The agents representing those homebuyers...