tag:blogger.com,1999:blog-11567394040985964342024-03-13T21:34:25.635-07:00Bake's Real Estate BlogPeter Bakehttp://www.blogger.com/profile/08625471549951041276noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-1156739404098596434.post-7114355411189989432019-09-25T05:55:00.001-07:002019-09-25T05:55:23.029-07:00Tips To Elevate Your Real Estate Wholesaling Business<!--[if gte mso 9]><xml>
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<br />
<div class="MsoNormal">
Jumping into the business of real estate wholesaling is a
big moment. You see the prospects of bigger revenues, and you have the energy
level to balance multiple roles in your business. These multiple roles usually involve
generating leads to qualifying leads, meeting with the motivated sellers, and
marketing properties. But after a while, it started becoming exhausting for you to
manage these multiple roles.
</div>
<div class="MsoNormal">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<img border="0" data-original-height="407" data-original-width="610" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjPOh5hdbhe3GK7zq41rEjs5WjIrn_GbDra4hcZf89GuB0QQaxvV7ZuzQh8JrqYJvGv8ZcRMUhd7JJ9o99nKR5mWBjLp1xVhyphenhyphenfeaUqiCp-CQnTTAL60ocabo0h52lur9stVq1Q1P5355fJm/s400/1a5292d0-cb42-11e9-834a-5307b4b63f5d-the_beginners_guide_to_real_estate_wholesaling-ogid-122565.jpg" width="400" /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
When you are doing this business, you have to know what is
involved in your everyday business and how you can structure your team. So when
your business grows, you distribute responsibilities among your team and
consider the workforce enhancement when required.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b>Breakdown of the business model</b></div>
<div class="MsoNormal">
No matter what wholesaling strategy you want to go with,
there are three components that you need to consider, i.e. acquisition,
disposition, and transaction.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Let’s start with acquisition.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b>1. Acquisition</b></div>
<div class="MsoNormal">
Acquisition is referred to the process through which you
acquire the <a href="http://karencharles77.blogspot.com/" target="_blank">property</a>. You can do this by generating leads, acquiring the
property, following up on offers, communicating with the motivated sellers, and
then converting leads into deals.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
In this scenario, you first have to understand how to
analyze the deals. This way, you will know if the deal you are considering is
the right one for you.</div>
<div class="MsoNormal">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<img border="0" data-original-height="600" data-original-width="800" height="300" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjYgCok12g3PxOGFQh7-4Jl3fLM1smw0N2aHUFocrUQ1NqhVfK2w2tqgKnkkvB4k-9vjfwYcM1ZyTPG9HX3yRjYidH3KZIc1ZITmez03OIRlmnZZZAiqHPd9d0Q31gSpxc5W2j8CsS5JmDW/s400/Property.jpg" width="400" /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
As a wholesaler, you will need to help the motivated sellers
get out of the distressful situations. You will need to make them talk to you
openly about their concerns. For his purpose, you will need to build rapport.
This way, you will be able to know about the level of motivation in the
sellers.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
During the process, it will be easier for you to notice that
many of the sellers interested in selling their properties are not truly
motivated to sell. It is quite important for you to know how serious those
sellers are about selling their properties. </div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
One thing that you are going to have to make sure in this
process is that you understand purchase agreements well.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b>2. Disposition</b></div>
<div class="MsoNormal">
The process in which you sell the property, build
relationships with the buyers, or market the property is known as disposition.
This process starts with building of rapport.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Real estate business is all about building relationships for
the mutual benefits. Moreover, you always need to know the party you are
working with very closely. In this scenario, you have to sense whether the
investor you are working with is interested in one-time deal or he/she wants to
work with you on long term.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
The nest thing you need to be concerned about is the
marketing of your property. There are several channels that you can consider
for the proper advertising of your property. You can use craigslist and/or
social media to get your property properly advertised.</div>
<div class="MsoNormal">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<img border="0" data-original-height="620" data-original-width="940" height="263" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgpgIREp3BDH91_rIu1cvCtbgxalVxFRz-QfPf9nsx2l57uXWat4ZZJ1Pa-3ArwlwtiOXfx0to1_VMu0FnEze-fMzB-sVg1xuwkooB60HF4B6A6pY5Xydt33IkBq7-rrnuMi5nlmRfcVp6b/s400/Kentucky-Disposition-Of-Property-In-Dissolution-Of-Marriage-940x620.jpg" width="400" /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Make sure that you properly understand the closing
procedures. Since you are going to have to communicate them to your buyers or
investors, you are going to have to fully understand those terms.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b>3. Transaction</b></div>
<div class="MsoNormal">
Transaction is the phase you have been working for through
all along the process mentioned above. This is where you don’t want the things
to go south. This is the reason that you need to make sure that you know the
closing procedure well. Proper documentation is the key in this regard. Your
organizational skills are going to matter the most here. You have to make sure
that you are shifting the control of property to the buyer in a swift manner.</div>
Peter Bakehttp://www.blogger.com/profile/08625471549951041276noreply@blogger.com0tag:blogger.com,1999:blog-1156739404098596434.post-76800029247235895292017-05-19T04:05:00.001-07:002017-05-19T04:05:32.655-07:00Four tips to recoup damage to a rental property<div class="separator" style="clear: both; text-align: center;">
<img border="0" height="238" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgsaScake3WCCf-GW0vKcTZBSsv6ObnFdHFBZJoZKUKUXAEHuYWWj3KNeut_2TEInLuwhadZKkXuWqDGFQWEY1xfwppikERj-TvESIUO3d4rmbxKBAJbLSw6PC1D1gqyCryWBPDa20a-uh2/s400/Security-Deposits-Can-Be-Used-to-Protect-Howard-County-Rental-Properties-from-Damage-671x401.jpg" width="400" /></div>
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You’ve worked hard to provide your rental tenant with the
best rental property for their money. Then the day comes when you and your
current tenant have parted ways, you come to inspect the property and discover
things just aren’t what they should be. There’s something wrong with the
property, you enter to discover trash is thrown all over and what’s that smell?
On further inspection, you discover holes in the walls with a smell that seemly
has infected every single space. It’s going to take serious cleaning to get the
property back in tip top shape.<br />
<br />
Your former tenant did provide a deposit, but from the looks of the property
now that deposit just isn’t going to cover the damage the home has got. What
can you do to recoup for these damages while still making a profit off the
site? You’ll need to remember and understand that each situation is different,
but sometimes it can be done.<br />
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The options you have will depend on three factors: </div>
<ul>
<li>The amount of money owed </li>
<li>Tenant type </li>
<li>Situation where the property became damaged</li>
</ul>
<br />
There are four quick tips to consider when you’re considering how to pay for
property damage done by a former tenant:<br />
<br />
<span style="font-size: large;">
Negotiate </span><br />
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<img border="0" height="223" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhEJ8ogmUDe9qaEV_f96srEvFQSTmIcJpxEUMFHfjU3BI4Rc_3qwx2QmggO2XfBFmEdAWOJ6F81dB-zE26lVSlBw1XfkPfYVlkKCt_Q99EQnez3Miwth2o7vpv6uxYiSEYtUiYoDHDjiXq6/s400/tenant-and-angry-landlord-918x516.jpg" width="400" /></div>
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A tenant who does damage to a <a href="https://patch.com/connecticut/trumbull/investing-real-estate-doesn-t-have-costly-5-ways-reduce-these-costs" target="_blank">rental property</a> can be sent a disposition of
deposit form that states that the deposit has become landlord property to cover
the cost of the damage while also allowing a negotiation on costs that come
beyond the regular deposit amount. Be aware that you’ll need to have complete
Move in/Move out inspection documentation plus photographic proof of the
before-and-after state of the property.<br />
<br />
<span style="font-size: large;">
Accept a small loss</span><br />
<br />
If the damage isn’t major but goes over the deposit amount you may just choose
to accept the loss if the former tenant is unwilling to cover it. Accepting a
small loss can help avoid headaches that chasing up the amount may create. If
you’re accepting the loss, file the unpaid invoice under the former tenant
information that can be presented to another landlord as a statement to the
quality of tenant they might be considering.<br />
<br />
<span style="font-size: large;">
Bill em</span><br />
<br />
If you’re not wanting to accept the loss, you can begin to bill the former
tenant repeatedly with a monthly bill for the amount owed. Cycle billing is a
way to avoid large cost involved in regaining the money.<br />
<br />
<span style="font-size: large;">
Send to collections</span><br />
<br />
There are several collect agencies available to pursue past bill payments that
use several different techniques in an attempt to recoup the money. But, you
should aware that collection services can charge a large fee for recouping
money owed, often at almost fifty percent of the money owed. If you choose a
collection agent to recoup money owed, consider it only if the tenant owes over
$1000 due to the collection agent fee. </div>
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<iframe allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/6BL7VLO6yw4" width="560"></iframe>
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<br />
It’s not always easy to recoup on <a href="http://www.realtor.com/advice/rent/can-landlords-sue-for-property-damage/" target="_blank">damage done to a rental property</a>, but it can
be done. So, consider all your options for payment and you’ll be on your way to
recouping the money you need.<o:p></o:p></div>
Peter Bakehttp://www.blogger.com/profile/08625471549951041276noreply@blogger.com1