The Seven Best Ways on How to Get Real Estate Investing Deals

If you are new to real estate investing, you are probably wondering “where am I going to find my first real estate deal”? There are actually a number of very effective methods you can use. Below I will touch on 7 different and valuable methods to find real estate investing deals. They are a pre-foreclosure listing service, major newspapers, post cards & fliers, bandit signs, MLS, a realtor, and a wholesaler.

Method one for real estate investing is to purchase a list of pre-foreclosure homes from a listing service. Here are just four such services: Foreclosure.com, RealtyTrac, Default Research, and  However, one of the drawbacks to a listing service is the cost. Also, be aware that some services have more recent information than others.

Another method to get a real estate investing deal would be to look into the classified ads section of major Newspapers. Their classified sections are on the web. You want to search the ads to find words such as “divorce”, “desperate”, “must sell” or “estate sale” to name just a few examples of keywords that indicate the seller is desperate. Think of some on your own and have fun with it.

Another method would be to send Postcards and fliers to targeted homes. However, it is highly advisable that you find someone who can do what is called good copywriting. Good copywriting is combining words, fonts, phrases, pictures, a call-to-action, etc. that will compel your potential home buyers to call your number. Make sure you do this type of marketing correctly, otherwise you will be wasting your hard earned money.

Method number four for is the use of bandit signs. A bandit sign is a small sign that is posted near major streets with a simple phrase to let home owners know that you buy houses quickly. Don’t forget to have your phone number listed in large letters, so distressed owners know who to call. Just be aware that in many places bandit signs are not allowed.

Another method that is more obvious is to look for a real estate investing deal is the MLS (Multiple Listing Service), however, you must be a licensed real estate agent in order to gain access to the MLS database. A word about the MLS, I know some real estate investors who swear by it and I know others who say it’s not worth your time. Who’s correct? Well, believe it or not, both are right. If you are a licensed agent who can jump on a property that is a good deal when it is put on MLS, you have a good chance to finds deals, otherwise, it will be more difficult.

Method six is to enlist the help of a realtor. If you don’t know anyone who is a realtor, you can find those who work with real estate investors, just by going to realtor.com. You will need to find a realtor who is willing to work with you and to email you a listing with your criteria. What sort of criteria do you use to search for a property? Again look for words like “divorce”, “desperate”, “must sell”, “condemned”, “gutted”, “mold” and any other word that would be undesirable for regular buyers, but a potential deal for a real estate investor.

Finally, there is another method that is simple, yet very effective. Get your deal through what is called a wholesaler. A wholesaler is one who controls or purchases a property at a deep discount and passes the savings on to you, the real estate investor. They typically send the deal right to your email box where you can read about the deal, do your due diligence and then make an offer.

So, as you can see there are various methods that you can use to find your deals. You may be wondering, for effective real estate investing, how may deals does it take before an offer is accepted? Well, I know many who say there is a 100-10-1 rule. It says it takes looking at 100 deals to make 10 offers to get one accepted. Choose a method or better yet, a set of methods that works for you and your budget and your real estate investing.

Easy Ways to Protect Your Personal Finances From Further Economic Contraction

While the economy has already certainly softened, there may be further economic contraction for American consumers to face. Increasing job losses, higher inflation rates, and the growing food and energy costs are making personal finance budgeting difficult for most American families to achieve. The variable interest rate of recent mortgages makes critical, and the prospects for personal finance do not look bright for the next several years.

However, an ounce of personal finance planning is certainly worth more than a pound of monetary cure. It is not too late to start preparing your personal finance budgeting efforts to brace yourself for further economic contraction – ensuring that when America does recover from its economic weakness, your personal finance will be intact and still healthy.

Debt management strategy: watch your interest rates

When economic uncertainty is on the horizon, interest rates are the first to react – making debt management critical. Powered by both the Federal Reserve rate and each banking institution’s tolerance, interest rates can either soar or plummet, depending upon several factors.

Whereas our interest rates were at historical lows, the Fed Chairman Bernanke made adjustments to the rate in order to curb inflation, while attempting to simultaneously stimulate economic investment. What does this mean for your debt management? In essence, banks will now offer you great interest rates if you have good credit, making your debt management easy. If you have bad credit, then banks will increase your interest rates, as the risk of a default grows greater during an economic contraction.

Therefore, for debt management that will prepare for further economic contraction, you want to lock in low interest rates, which will be easy for those who already have good credit. You can refinance your credit cards by consolidating your debts, or you can even renegotiate your interest rates with your existing credit card company.

For those who have less than stellar credit, you want to carefully watch your mortgages, loans, and credit cards to ensure that they are not raising your interest rates. You may be particular susceptible to interest rate hikes in further economic contraction.

Smart personal finance budgeting

Keep in mind that regardless of how much income you earn, the key to maintaining financial stability is through intelligent debt management and personal finance budgeting. Even if you earn millions, your spending habits and debt are what determine your financial stability. In preparing for a further economic contraction, it is important that you take several personal finance budgeting steps:

o Tally all of your required expenses including your mortgage or rent payment, car payment, health insurance, and utilities. There are the bills you must pay each month, and therefore, are part of your mandatory personal finance budgeting process.

o Allocate a set amount each month for groceries. Keep in mind that you should try to purchase everything “on sale” for smart personal finance budgeting. Research shows that simply by purchasing the brand that is on sale, you can save approximately 20% each time you go to the supermarket.

o Minimize your entertainment expenses. Smart personal finance budgeting means limiting how frequently you eat out, or spend money on entertainment. For example, if you have a four-person family and you typically watch a movie at the theater each week, cutting this expense out could save up nearly $200 each month. Or, brown bag your lunch instead of eating at the local sandwich shop. This small change in your personal finance budgeting can save you conservatively $150 per month. Just these two small changes alone in your entertainment expenses can give you an extra $350 per month for your personal finance budgeting.

o Set money aside for your savings. In a further economic contraction, the greatest, yet most probably fear, is losing your job. Therefore, by taking conservative approaches with your personal finance budgeting now, you can still set aside emergency funds that will help your family if times are difficult. Saving 10% of your income each month is a healthy, yet reasonable, amount to save in your personal finance budgeting.

The key to protecting your personal finance against any additional economic contraction is through smart debt management and intelligent personal finance budgeting. By taking several preventative measures now, you can ensure that your financial situation will remain healthy – regardless of what happens to the economy.

A Profitable Business Idea and Marketing Research

The task of coming up with a profitable business idea can be very daunting. Setting up your own business requires you to think rationally and thoroughly so as to plan and make key financial decisions. You should have a written business plan. There are many already existing business opportunities that you can choose from. Therefore, being an entrepreneur doesn’t necessarily imply that you Must come up with a new unique business idea.

There are many advantages of choosing an already existing business to start your business from. The main advantage is that the existing business opportunity has been already in the market therefore its products are already selling. You’ll not need to spend a lot of money in marketing the products because they have customers who already exist. Your task is to find the best strategic location where you’ll locate your business and also raising the amount of capital required to start and run the business.

You must ensure that you meet all the requirements including legal procedures before you start operating your own business to avoid breaking the law and being penalized. You should bear in mind that starting a business by using or improving an already existing business doesn’t imply that it will be profitable. It is either that it will be making profits each year or hardly making any profits.

It is upon you to make a decision whether to start from scratch by coming up with your new profitable business idea or look for an existing business idea to adopt. It takes a great idea for one to come up with a new business idea that is profitable. However, a business idea that is profitable in the present time cannot remain to be profitable throughout. It will reach a time that it will face stiff competition as a result of new technology, new superior substitute products or other factors that will make its profits to decline.

As an entrepreneur, you have to be aggressive and innovative. Innovation of entrepreneurs doesn’t necessarily imply invention of a product but it also implies coming up with new ways of reducing costs and improving the existing products. You should take risks by investing in profitable business opportunities you come across.

Do not focus on profits alone if you want your business to succeed but you should be customer oriented. When you’re customer oriented you’ll satisfy the tastes, preferences and expectations of the customers. You should not operate the same business throughout without improving the quality of your products and finding out from customers what they want your products to do for them.

What You Should Know About Making Profits

You should have a clear view when it comes to making profits before you start your business. Your business will fail if you miss to apply the objective of earning profits. Entrepreneurs are not supposed to focus on the objective of maximizing profits only. Focusing solely to maximize profits will lead an entrepreneur to charge a higher price for his products, exploit employees or produce products that are of low quality. An entrepreneur who solely wants to maximize profits will never make his business to be successful.

The enterprise that is coldly and solely motivated by the making of money seldom fares well in the long run~By Apply.

However, this is not to say that entrepreneurs should not make profits. Entrepreneurs should focus in satisfying customers and making adequate profits to cover all costs incurred i.e. making adequate profit to enable the survival of the business.

The problem of any business is not maximization of profit but the achievement of sufficient profit to cover the risks of economic activity and thus to avoid loss. But whether it is the motive of business to maximize profit is debatable. However, it is an absolute necessary for the business enterprise to earn at least the profit required to cover its own future risks and enable it to stay in business and maintain intact the wealth producing capacity of its resources~By Prof. Peter Ferdinand Drucker, the world-renowned consultant of management.

Marketing Research

Many upcoming entrepreneurs face the problem of product failure. You should keep on changing your marketing strategies and improving your products so as to satisfy your customers fully. You should not guesswork that the products you’re intending to sell will be purchased. You should find out facts in the market if your products will be purchased.

Nowadays, marketing research is vital. Why? It is because consumers know what they need and want thus you should find out from them by conducting a marketing survey. Marketing research will also help you to know if the business you want to start will be profitable. To avoid the risk of your business failing, you should find out;

1.) If the products you’re intending to sell are needed in the market.

2.) The place where most potential customers are in order to locate your business near them.

3.) The expectations of potential buyers. Find out from potential buyers what they want your products to do for them.

4.) The purchasing power of the customers so as to make your products affordable. This will help you to know the quantities you should pack your products. Customers with a higher purchasing power will have the option of buying the products that are packed in large quantities e.g. 1Kg, 5kgs, 10kgs, 20kgs etc. On the other hand, customers with low purchasing power will have the option of purchasing your products that are packed in small quantities e.g. 50gm, 100gm, 200gm, 500gm.

5.) If the business you intend to start has competition so as to find your own unique selling proposition to beat your competitors.

6.) The size of the market for your product so as to know how much products you’ll produce and the amount of capital to invest.

You should take a step in widening your horizons and in taking your time to search for business opportunities. Read widely business magazines, business management books and other business publications. You should make your business to be the best choice in the market by satisfying your customers, gain loyalty of your customers.

Starting a business does not mean that you have to open a big business. It is all about discovering a viable business opportunity and having a strong entrepreneurial spirit that defies logic. Click the link to understand how strong entrepreneurial spirit that defies logic differentiates people who are successful from those who are unsuccessful in business.