Author: Heather Seitz

If you have been investing in real estate for any length of time, then you have undoubtedly faced frustration, hit some highs and then crashed into some lows! Ultimately, your goal as a real estate investor is most likely to generate immediate cash flow and long term wealth and increased net worth. True financial success is achieved by combining these two elements - cash flow and wealth creation, or net worth. Cash flow is considered as the monetary profit that is earned every month to support your lifestyle. This can also be used to invest in assets that may later appreciate in value.

Three levels of real estate investors are as follows:

Level one Investors - In this level, the investors learn the basic tricks of the real estate investment business, and they use it to make real estate investment a profitable venture. They learn this by making their initial deals profitable. Thus, Level One investors ensure that real estate is the path to economic success. They are aware that there is much to learn from this vast field, and they try to understand it. Real estate investors at this stage should spend time learning the business, evaluating the details of the deals, and make sound decisions. Often times, this will involve some level of training or coaching to ensure success. There are two main reasons why investors fail at this level: (1) Fear and (2) Lack of Knowledge. Because of this, education is critical at this level.

Level Two Investors - At this level, investors master the five core real estate business skills and also maintain a real estate portfolio. Second level Investors are those investors who generate a monthly cashflow ranging anywhere from $5000 to $60,000 per month (depending on location, market conditions, etc.), and also add an average of $250,000 to their net worth per year. Some investors have a wrong notion that after reaching the second level they have achieved it all. They do not realize that there is so much to achieve down the investment line, and that the benefits are worth their exertion. The biggest pitfall that investors at this level tend to fall into is that they get “comfortable”. As soon as you are comfortable, you stop stretching and learning. Level II investors that excel are those that are constantly adding new weapons to their arsenal. These investors practice negotiating tactics, refine their marketing strategies and learn advanced strategies like note buying, triple net lease investing, etc.

Level Three Investors - Level III real estate investors build a small fortune in such a way that they earn the majority of their income through passive methods. At this level, investors are generally not working in the day to day grind of the business. Their not out meeting with sellers night after night, sitting at open houses on Sundays, etc. They have effectively learned to make their money work for them and are using their assets to acquire other assets. For example, instead of rehabbing houses at this stage, level III investors may lend hard money to Level I and Level II investors! Often times, level three real estate investors will branch out into other businesses and create additional streams of income. Often times, their income may be similar to a level II investor, they just simply don’t put in the same time, money and effort. They have mastered advanced techniques are also utilizing leverage.

In order to become a Level III investor (which is what most real estate investors envision when they get started in the business), there are a few basic steps that will help you move through the stages.

But first off… you must realistically evaluate where you are in your business right now. Once you have determined that, you can follow these steps to advance your business.

Level I to Level II: Level One real estate investing is about learning the basics of real estate investing. There are three hurdles you may need to cross to get to Level II.

1. Take action: Stop “thinking” about real estate and start “doing” real estate. Pick up the phone and call sellers. Drive different neighborhoods and learn the communities. Attend networking events and trainings with other investors.

2. Find a mentor: It is critical that you find a real estate mentor, tutor, advisor, etc. that can help you succeed in the early stages. This person will not only teach you the mechanics, but will also help answer your questions and move you past the fear.

3. Invest in your education: You’ll find that the most successful real estate investors never stop investing in their real estate business and their education. Initially, it may be a tough nut to swallow, but long term, it’s essential to your business. There is but one small caveat. You need to invest in CURRENT education. You see, what worked just a few years ago, is not working the same way today. You need the most up to date information as it comes down the pike!

Level II to Level III - Once you’ve gotten the basics down and you’ve done a few deals, you’re ready to advance to level II. At this stage, you will begin to master the core skills that are critical to long term success in your real estate investing business. These include:

* Find motivated sellers consistently, keeping your pipeline full with deals
* Master the art of negotiation
* Evaluate deals quickly and take fast action
* Diversify. It’s time to start adding lease options, rentals, wholesale flips and retail flips to your profit pipeline.

Level III - It’s time to take all of your knowledge, experience, and proven systems, and leverage yourself. It’s at this stage that you’re ready to venture out into additional streams of income and let your business work for you! This is the level at which most people begin to teach other investors, to create systems, and to make money with their information!

Topics: Nu Way Real Estate | Comments Off

Author: Vince Testa

What sets the big real estate income earners apart from the average agent who barely makes a living? Have you ever asked this question?

Do you realize the old 80/20 principle, where 20 percent of the agents produce 80% of the business is now 7/93 according to the NAR. That is that 7% of the agents get 93% of the business. Although I am not certain these numbers are completely accurate, there is one thing I am sure of. Most of the business is being done by only a few of the agents.

Here’s why. First of all, we are not all created equal. Some have more natural ability and talent than others. This is not to say there is no hope for those who are not yet at the top, there is. But, most of what is being taught doesn’t work. There is so much information out there on how to be successful as an agent, that everyone should be successful. I mean that every one should be earning big money. And the fact of the matter is that everyone is not. So why can’t you buy a program from a guy who is making millions and have it work for you? Because you have been misled, that’s why. You have been led to believe that all you to succeed is to know more, and you will make more. And it’s not true. You have been told that more information is the key to your success, and it’s not. To make matters worse, as you go around believing this and gathering information, most of what you are getting is pure garbage. It doesn’t work, or at minimum, it’s not as effective as it could be.

It’not more information that will make you more successful. If it were, there would still be another thing to consider. You would have to be certain that you are getting the right information. I believe that most agents are able to do what it takes to complete a transaction. It’s true, some are not as good as others, but most can do it. And here is the first lie. Alone by itself, becoming better at being an agent will will not increase your income significantly.

When you decide to become a real estate agent, the first thing you do is take a licensing course. Then you need to pass a test. The first thing that then pops into most minds is this. How do I make money at this? Something they neglected to cover in the course. But you are not alone. There will always be lots of competiton in any business that is easy to get into with the promise of making a lot of money. Most newly licensed agents don’t have a clue of how to make money at this. Most turn to their brokers for help, but in many cases that dosen’t help much, if at all.

Why is it that most agents only do a few deals a year and only a select few others are able to do several hundred? Is it because these meaga agents have teams? Is that the difference? Well that is actually deceiving. They are able to have teams because they are successful. It’s not the other way around as many beleive. Because they are very good at bringing in business, it becomes necessary for them to hire a team because they couldn’t handle the volume by themselves.

So the question now becomes, how do they bring in so much business? And the answer is marketing. They have become far better marketers than agents. This is why they are able to make the money that they do. When I say marketing, I am not talking about the typical things that real estate agents do. What most agents do is not marketing, at least it’s not effective marketing. This is evident by the fact that most don’t know where their next deal is coming from.

Quite frankly, very few people know how to market. Even less of them are selling real estate. This is why the door is wide open for you to succeed. If you want to be a success in real estate and bring in the big money, you will have to become a great marketer, well at least better than your competition. And you will be surprised to learn why the information that’s being sold out there alone can not help you. It takes more, and no one else is telling you this. If you have ever bought a marketing program only to be disappointed at the results, then you know what I mean.

Topics: Nu Way Real Estate | Comments Off

Author: Lanard Perry

Real estate marketing is a lot simpler than most Realtors make it out to be. Some equate expensive products and services with quality.

However, effective real estate marketing does not have to be expensive, complicated, or sophisticated. Sometimes, plain, simple, direct and to the point makes lasting impressions that result in increased business opportunities and more income.

One of the most effective real estate marketing ideas involves Expired Listings. If you’re newly licensed, new to a community or simply looking for a way to increase your business you should aggressively pursue them.

Expired Listings are plentiful and always easy to find. All you have to do is look at your daily MLS updates.

If you make them a staple of your real estate marketing efforts by pursuing them consistently you should be able develop a steady stream of prospects and a solid income within 3 - 6 months, depending on your local market conditions.

Still, getting them is easier said than done. However, a good real estate listing system can help set you apart from other Realtors in a relatively short period of time. Below are some real estate marketing ideas for your consideration.

1. Bumper stickers. Are you advertising yourself via bumper stickers, yet? If not you’re missing out on a simple, cost effective marketing strategy.

So, here’s the deal. It’s very simple. Have some bumper stickers printed with your web site address and other business information on it.

Ask your church, sorority, fraternity and/or other groups you belong to to support you by placing them on their cars. Many will be happy to help out, especially since it won’t cost them anything to be supportive.

Also, make enough for family, friends and clients who are happy with your services and willing to share how great they think you are.

2. T - Shirts & Jackets. Real estate marketing via T - shirts and jackets is not a new or novel idea, but how many Realtors do you see advertising via this medium. Did you say “none?” That’s what I thought.

So, have some t-shirts and jackets made with your web site address and other business information on them. You, your family and friends can wear them almost anywhere. Market your business year round for a one time cost. When it’s too cold for t-shirts wear the jacket.

3. Baseball Caps are another great way to advertise that you’re in the real estate business. Have some baseball caps made with your web site address and other real estate business information on them. Heck, you might as well spend a few more bucks and outfit your child’s baseball team with them. It makes for great publicity and is also a nice thing to do for kids!

Ask the parents for “quid pro quo” by asking them to place your bumper stickers on their cars.

4. Envelopes, Stationary & Business Cards. These are the mainstay of any real estate marketing campaign, and a must for your marketing campaigns. Make sure your web site address and other business information is printed on all of your stationary, envelopes and business cards. Leave a few wherever you go. Give them out like candy, as they are doing nobody any good in your pockets.

5. Magnetic Signs. Automobile signs are the “meat and potatoes” of real estate marketing of most serious agents. If you don’t already have some get some. No,not the generic ones that your Broker has laying around, but signs with your name, web site address and other business information on them.

Place them on your car doors or roof. Take them off and reattach them in different spots from time to time to avoid fading your paint job.

6. Flyers. Print flyers with your web site address and other business information on them. Keep some with you at all times and hang on bulletin boards or simply lying around to be picked up. It’s a great, inexpensive real estate marketing idea that reaches a lot of people fast.

Print out a few hundred at a time and pay your kids to place them on car windshields in grocery store and shopping center parking lots on Saturday mornings.

7. Articles. Another real estate marketing idea is to write articles. Writing articles is a great way to demonstrate your expertise as a real estate professional while plugging your real estate business. It’s also an inexpensive way to increase your website ranking.

These real estate marketing ideas, anchored by a good real estate marketing listing system, can help supercharge your business and help you achieve the success you deserve.

Topics: Nu Way Real Estate | Comments Off

Author: Vanessa A. Doctor

The city of Miami Beach is one of the United States’ most fashionable and one of the truly coveted destinations.

The city is a famous tourist, fashion and entertainment, film, fine dining and premier arts and culture destination. However, nothing best defines the city’s characteristic more than the unique, highly artistic, architectural landscape being painted by Miami Beach condos and South Beach condos.

Miami Beach is known as an International Mecca for travel, business and to establish a home. From its small hotels with unique designs that line up along lower Collins Avenue and Ocean Drive, to its major upmarket hotel chains along the beach.

The City Has Had Its Fair Share Of Condo Boom Times

The area’s extensive redevelopment has catapulted it into the higher levels of real estate in South Florida and the US as well, more so with the place being a well-known bastion of consumerism and all-out hedonism, with it’s thriving party, celebrity scene, and entertainment scene.

The city’s real estate investment options include ready for occupancy condominiums, and are setting the benchmarks when it comes to the building of elegant, sophisticated and amenity-filled condo developments. The area’s most prolific developers, renowned architects and hippest designers are making their mark on the city’s eclectic lifestyle, one that best describes the art of indulgence and opulence.

Current Condo Prices For The City

According to local real estate analysts, the average condo prices based on October, 2007 levels for each of the city’s districts are the following: Miami Beach - $496,000; West Avenue - $463,060; Star, Palm and Hibiscus Islands - $2,788,143; Downtown Miami - $555,590; Biscayne Corridor and Wynwood, Edgewater - $448,487.

Local property analysts further noted that during the month of November, 2007, the average time needed to sell a condo in Miami Beach was 153 days.

Have Condo Supply Levels Dropped?

From a more wider perspective, the city of Miami Beach saw a 19 percent slide in its condominium levels since last month. Miami Beach did not come close to experiencing the level of development that we recently saw in Miami.

Most of overseas and out-of-state home buyers are also more likely to purchase a condo unit in this city than they are somewhere in the Miami-Dade area. Many think that the city will continue to see an increasing gap between the Miami and Miami Beach condo supply figures in the months ahead.

Over the years, tourism has been the city’s major economic driving force; however today, the area’s economy is diverse today. In recent years, it has expanded way beyond its traditional tourism-based cash cow, and has reinvented itself to become a multi-faceted real estate, entertainment, culture, health care and tourism center. This is an area where nearly 95,000 residents live, work, shop, go to school, have fun and go dining, and do many leisure activities.

The city’s cultural scene is diverse, and takes pride itself in having the Miami City Ballet and the New World Symphony. Though the city’s geographic borders are set, its economic growth is booming, and many public works investments, like the proposed Baylink project, that is expected to create a mass transit connection between Miami Beach and the mainland Miami area, continues to reinvigorate the area.

Topics: Nu Way Real Estate | Comments Off

Author: Vanessa A. Doctor

Imagine this: You’re smack in bed asleep, in your newly rented Miami condo, only to be awakened by someone knocking at your door first hour in the morning. You suddenly find out that on the other side of that door is a sheriff, who is there to serve your landlord one of many Florida foreclosure notices.

As sad as it may seem, this unfortunately is all too common a scene to many tenants of South Florida condominiums. While many say that the housing slump is not going to be that protracted and bloody, just how is it felt in many condo households in the Miami-Dade area?

Housing Market Prospects For 2008

As we go into the early months of 2008, the housing market in this vibrant and diverse area of the state, is seeing a large number of condominium developments with hundreds of millions of dollars in defaulted mortgages, and are struggling to keep their heads afloat.

According to housing market analysts, in the 20 condo developments in Miami-Dade and Broward counties with the largest numbers of units in foreclosure, the number loans in default accounted to more than $271.8 million. Along Miami’s Brickell Avenue, in the financial district, one will find out that three of the top five buildings that are going through foreclosure, as the place has been jokingly referred to as the ‘Florida foreclosure district’.

The percentage of units in foreclosure widely varies, among the 20 buildings ranked at the top. For some large condo developments, a large number of units in foreclosure however still represents a lesser portion of the overall building in some of Miami’s larger condo buildings.

From an investment standpoint, there were positive expectations of how spectacular Brickell was going to be, however the widespread mortgage fraud involving inflated appraisals and speculators had led to the nauseating rise in defaults and property foreclosures in the state as a whole. One local Miami property broker even joked that “These buildings are notorious because the fraud was so prevalent”.

Many Are Hopeful That Conditions Will Quickly Improve

For buyers who are that are looking for a bargain in Miami-Dade County will be happy to know at least that these opportunities only get better as the construction of some 10,000 units is finished, contributing to the glut.

However, in the meantime, the residents of condos in the Miami metropolitan area that have high foreclosure rates are living with the burden of vacant units, and some even face special assessments and increases in the in maintenance fees from community associations that have widening budget shortfalls. Some condo homeowner associations are still struggling to cover expenses because a large segment of their residents are behind on fees and other payments.

As a result, homeowners and other members could see unkempt gardens and grounds, and other disruptions in basic services, such as a cut-off in cable and internet service. Some of these building’s tenants however say they aren’t worried, and they are in this for the long haul. A lot of condo owners and renters still have high hopes that they will prosper in the end, and eventually profit from their investments.

Topics: Nu Way Real Estate | Comments Off

Author: Shin Lim

There are virtually hundreds of manufactured home builders in the United States which is why you need to adequately assess your options. Knowing more about the manufacturer’s background, process and way of doing business is important to save more on building as well as get the right design and plan you’ve always wanted.

First, determine the background of the manufactured home builder. Feel free to ask how many projects they’ve done in the past and how many years they’ve been in business. Ask remote areas that they’ve successfully catered to and learn about their ways of developing the models and materials. You may also want to learn how the company adheres to the laws and standards covering all manufactured homes. HUD labels, references to loans and mortgages as well as FVA approval are pluses when choosing the right home builder.

Next, learn the process as to how they build, manufacture and set up the homes. Ask them about their floor plans, exterior designs and materials used and compare with other manufactured home builders in mind. All models should meet quality standards to ensure that your home stays protected from the elements and functions well as a living space.

The company should also be able to give you suggestions on the right kind of home and materials to use on the particular location where you want to build. The builder should be able to tell you the advantages of building off-site in a controlled environment.

Finally, compare home and building rates. Manufactured home builders should give you full information about the prices of each item as well as other possible expenses you need to prepare for like documentation and forms. All quotes should be well-defined. A good manufactured home builder should also be able to provide you with a warranty and reliable sources of financial aid.

Topics: Nu Way Real Estate | Comments Off