Is Theft a Problem on Your Investment Flip? Use These Simple Yet Effective Tips To Stop Thieves!

I bought a house on the South Side of Louisville within a hop, skip, and a jump from Louisville's famed Churchill Downs. It seemed like a decent neighborhood and I thought by keeping everything locked up and out of sight everything would be ok. Boy was I ever WRONG! Two days after closing the back door was destroyed and thieves made their way inside. The good thing was I hadn't gotten started yet but it definitely opened my eyes.

 Lock up EVERYTHING

Sounds simple and it is. Install deadbolts and make sure all windows are locked at all times. If you're worried about someone prying the windows up you can always cut a piece of 2 X 4 to fit in the window frame as I do. If you have a garage and/or shed make sure the overhead door is locked with the bar and install a padlock on any shed.

Install Steel Security Doors

I bought two security doors from Lowes for $208 each and installed them myself in a day. If you want to get the doors installed Lowes will do that as well for $69 each. These doors are awesome and it would take an ox to bust them down with the proper deadbolts installed.

Make sure nothing is visible

If thieves see it they WILL break in to get it no matter what precautions you take. A thief will find a way if they want something bad enough. Have I mentioned how bad I HATE thieves? Well I will mention it often in my blogs.

Never leave your tools on the jobsite

It's almost like thieves can smell tools and materials. I know it's a pain to keep hauling everything back and forth but it's even more of a pain to replace all your tools. There is another flipper in the same neighborhood I talk to all the time and he has been hit twice losing EVERYTHING. Not me, I haul all my tools back every single time.

Install motion sensor lighting

I bought two of these lights for $17.99 each and installed them on opposite corners of the house. They have a 25 foot sensor and will flood the yard with lots of light. Before I installed them my back yard was pitch black, you couldn't see your hand in front of your face. The back yard of my property backed up to an alley and gave easy access to thieves. I sat my old, busted lawn mower out there just so I could get rid of it because I KNEW someone would steal it! It was gone the first night.

Install a security system

I own a security system I bought from +SimpliSafe Home Security and I LOVE it! I paid $259.95 with NO CONTRACT! I had this thing installed and up and running in about 20 minutes. It is totally wireless so no thieves can cut your phone lines! You will receive a text and email in case of  entry, fire, or even CO or gas leaks. Most security systems I found wanted over $40 a month to monitor and they also wanted you to sign a contract. simpli Safe doesn't, they charge $14.99 and will never have you sign a contract. They also offer a 60 day no questions asked guarantee. The thing that sold me on it was the fact that I can pack the system up and take it to my next property so easily. I can also cancel the monitoring at any time while I'm looking for my next house flip.

Conclusion

The sad fact is if a thief wants in bad enough, they WILL get in there. Hopefully these simple tips will keep your property YOURS and not some crack head junky. Stay safe out there, share this with your friends, and HAPPY FLIPPING!  Greg  Eagle Thirteen Properties LLC

7 Easy ways to save $1000 in a years time

1. Calculate savings on water

Meet EPA criteria while keeping money in your pocket. If you're in the market for a faucet, showerhead or even a toilet, calculating potential savings is a click away. The EPA has a tool to calculate your savings on their site.

Input the number of people that live in your house. Then choose the product you want to install to anticipate your annual savings. A family of four replacing a showerhead heated by natural gas can save $55 annually. Once the showerhead is purchased, installation is a matter of taking off the old one and putting on the new one. It’s that easy.

It’s also smart to see what rebates your water company offers for installing more water efficient fixtures. Many will pay for the full cost of a new toilet that could also save you big bucks every year!

Read more: Why you should stop drinking bottled water

2. Reap major savings by the push of a button.

While makes, models, the cost of water and electricity may vary, your dishwasher can hold your ticket to savings. According to the book, Suddenly Frugal, using the air-dry setting on the dishwasher can total up to a whopping $624 a year in savings. Who knew!?

3. Reclaim money while you sleep.

According to EnergyStar.gov, a programmable thermostat can put your energy savings on autopilot. It can save you up to $150 a year with proper usage. Be sure to lock into a setting that guarantees that you’ll save. Think of it as a savings default plan like the cruise control feature on a car. You can “set it and forget it” even while you sleep to reap the benefits and perhaps, dream about a vacation you can go on with the future savings. When you’re out of the house, you can use less energy and have it come back to a comfortable temperature before you get home.

Bonus: Your electric company might even subsidize or pay the whole cost of your thermostat upgrade. Make sure to inquire.

4. Limit your usage

If you are wondering where your extra money went, your cell phone might be the culprit.

According to Forbes, costly overage charges on your cell phone can range from $15 to $51.60 per Gb.Try to stay within your cell phone's data limits to cut costs. If you’re diligent enough to switch to wifi when available, you can avoid overage charges in seconds. If your plan happens to charge $15 per Gb, that's a $75 savings over a 5-month span just for turning the data off and it only takes a few seconds to do so.  

Even better - switch over to a low-cost cellphone company.

5. Be a cut above other savers

According to US News, men spend $28 on average for a haircut while a woman spends $44 on average. If you cut your hair roughly every 5 weeks, that would be 11 times a year. If you switch your appointments to every 6 weeks that would only be 10 haircuts. Just eliminating one appointment for each person with a quick phone call would save a couple $92.

6. Give your fridge the dollar bill test

According to Energy.gov, if the seal on your refrigerator isn’t tight, you can have a money leak on your hands. Check to see how snug it is by performing the DIY dollar bill test. Take a dollar bill and shut the refrigerator door on it. If it falls, think about replacing the seal. This way you keep the cold air in and money in your pocket.

7. Don’t drink away your money.

While getting a few drinks at a sports bar is fun, most beverages come with a hefty price tag. The markup on beer can be between 300-400%. It’s costly and sometimes too noisy just to catch a game. Consider inviting people over for drastic savings and game time fun. One of my friends likes to hook up his TV outside. We could still enjoy the weather and entertain the kids while watching a baseball game outdoors. Whether you supply the drinks or make it a BYOB gathering, you’ll get more bang for your buck.

If you used a combination of all of these tips and skipped one $4 beverage that you ordinarily would order, you too could save over a thousand dollars a year faster than you could say "latte." Cost cutting doesn’t have to be an arduous task. A few strategic changes can help you switch things quicker than you think and reap the money-saving benefits over and over.

Funny Home Improvements...

Below is a series of my favorite homeowner specials. Leave it to the professionals when at all possible and if you can't, blame it on your brother in law!

Who needs a good HVAC technician? THIS guy! 

Someone had a little too much to drink and too much time on their hands

Looks like someone valued this trailer by looking at Zillow's Zestimate..

This window won't streak..

perfect fit!

Custom AC

Welcome to the house of pain

Needed a condensor fan motor, problem solved!

Looks like he's on?

Basic Real Estate Investing tips everyone should know before getting started!

Whether you are a newbie or seasoned investor, these are tips you MUST know.

A primary home is most important. Buying your own home gives you a place to live and teaches you the cost of home ownership, financing and market conditions. You will also learn about property maintenance and build your own network of professionals who can prove to be invaluable when investing. Finally, your first home could later turn into your first investment property!

More knowledge is better. Being a savvy investor takes more than just buying up promising properties. Having a good knowledge base will go a lot longer than a “sixth sense” for good deals. The Internet, books by reliable authors, investment groups and college courses are all good resources to learning the best investment practices. You can also tap into other successful real estate investors or real estate agents for information. Make sure you use more than one resource so you can evaluate the viability of the information you gather.

Professional help may be necessary.  Although you may not think you need help, a trustworthy, honest professional may be the partner you need. Realtors can be especially helpful if you are new to investing, and management companies may take the pain out of property management. For instance, managing a rental property takes a lot of time, and you will need to be prepared to make repairs, resolve issues and advertise for renters if you are taking on the task yourself. In the long run, a management company may be just what you need. Use the referrals of friends, family and associates to find reliable, honest professionals to help you.

Know the market inside and out. Before you invest, investigate the local market thoroughly. There is no universal real estate “bubble.” Each market is different, and experiences different fluctuations and trends. One market may be good for rental income but not appreciation, while another market may be excellent for appreciation but poor for rental income. There are endless variables, and it is important for you to know exactly what you’re getting into. Remember that one area is never the same as another area.

With these basic tips under your belt, you are ready to venture out into the investment landscape. Gather as much knowledge as you can, and, after that, happy investing!

Wholesaling Houses is Harder Than You Think!

      Recently, I began flipping houses. Just like you see on tv I thought. Get in, make a home beautiful, get out with a lot of dough. My problem is lack of enough capital to really get going. Should I use private lenders? Most don't want to part with their hard earned money to someone just getting started. Hard money lenders? The ones I have found that are willing to lend to a newbie investor want 20% down from you, want you to have 6 months in reserves, charge you over $150 for every draw and that is AFTER you meet their credit criteria. Bye Bye profit! I decided to try my hand at wholesaling. I began watching youtube after youtube video trying to figure it out. Seems too easy I thought. Why isn't everyone doing this? After watching Phil tell me to shoot offers all over town and Demitri telling me to make sure I had my buyers list I decided to give it a whirl. I had a website, an appetite to get rich, and a plan. Or so I thought. I made up some bandit signs ( my favorite form of advertising), hit the streets with my sons to help hang up the signs, and made up a google adwords campaign. Boom, before I even got home I had a call!! Wow, that was super fast. CRAP, now what do I do? I met the man in his home the very next day and it was a mess. He was already packing to move and had boxes EVERYWHERE. The ceiling was stained with roof leaks galore, the hardwoods looked like every dog in the neighborhood and peed on them, and it reeked of cigarette smoke. The kitchen walls and ceiling used to be white I think, but now were a dingy yellow. I walked through his addition on the back of the house and felt like I was going to fall downhill. The floor must have sloped 2 inches from one side to the next. He had installed a header from where the exterior wall used to be. No doubt this was load bearing and was bowing BADLY and the drywall was cracked. I saw all of this and thought everything in here is fixable, but how much does he want for this property? I had done the comps for his area and determined most houses sold for about 50- 60 K. His was a little larger due to his "addition" but was no where near as nice as the ones recently sold. When he told me 70K I just couldn't believe it. He also had two mortgages totally almost $68,000. He said that price is firm and there will be no negotiations. I told him I would crunch some numbers and got out of there. I was planning on offering 40K but thought to myself I would NEVER be able to assign that contract. My next call I got was for a really rundown little house by Churchill Downs. The comps in the area run about 45-70 K and I knew it was in a great location. He gave me the code to get in which eased my mind a little. I like being able to go in and look around without someone trying to sell me on the property. It was a total shell. But VERY fixable! I called him right away and shot him an offer for $7500 thinking he would counter offer. HE ACCEPTED! His asking price had been 12,000 and I thought I had no chance landing it for that. I got the sale agreement signed and thought I would place it on Craigslist just to see what would happen. Within an hour a man was at the house looking in the windows. I met him there and he wanted the house bad. Like start renovations next week bad. He had his GC with him and they were already drawing up a floor plan. I couldn't believe it! I had made $4500 profit without doing much but mow the lawn and pick up the garbage around the house. He took the assignment contract and I haven't been in touch with him since. That was a month ago. No response to phone calls or emails. Bummer. After that I've had offers to trade for a houseboat, I've had a guy want to buy it from Pakistan and wire me the money( sounds like a scam to me), and I've had someone want to look at it next month. What next? Do I take out a home equity loan and fix it up myself? Do I buy the house and let it sit until I have the funds to fix it up? Meanwhile the seller is patiently waiting for us to close. It's enough to give me an ulcer. People think that wholesaling is easy and that you don't earn your money. Pardon my french but I call BULLSHIT. There is definitely an art to it and you better have everything lined up just perfectly before you get going. I'm going to make this work and I will make a profit. It's just taking a little longer than my "plan" called for!

By Greg Hammond ( We Buy Houses Louisville/ Eagle Thirteen Properties LLC)

Top 5 Marketing tools for #RealEstate #investors by Greg Hammond of We Buy Houses Louisville/ Eagle Thirteen Properties

I have put together my top 5 tools for my real estate investment company. I use these because they are cost effective and WORK! Please feel free to post your favorite tools in the comments section.

5. Google Adwords  This is a must have to drive traffic to your website! Make sure you have the right keywords and enough of a budget to make sure you are seen. I started off with $10 daily and that was a great start. Most people use google search these days and if you don't already have traffic you will NEVER be seen without some advertising. Once connected with Google don't forget to list your business! It's free and very easy to sign up. Make sure you put "We Buy Houses" somewhere in your business name even if it's not the real name. For instance mine is "We Buy Houses Louisville/ Eagle Thirteen Properties".

4. Craigslist Yes a lot of investors are using Craigslist but for good reason. When I landed my first wholesale sale agreement I had no buyers list. Zero, zilch, nada. I posted a vague add with the words "Fixer Upper" and "Handyman Special" and BOOM, my email went crazy. Here I had local investors hungry for cheap real estate. I save every email I get and list them in my contacts. When I get another property I email it to all those investors!

3. Social Media You just never know how many people Facebook, Twitter, Google Plus, and Instagram will connect you to! Every deal I come across I post to all of these sites. You can link them all and make one post!

2. Bigger Pockets I was involved in investing for about 6 months before I tried this site. WOW was I missing out!! There are thousands of seasoned investors, hard money lenders,realtors, and mentors on this site for you to connect with!!! It's totally free and my main source for any real estate deals I have questions with!

And now without further ado my number one real estate marketing tool.....

1. Bandit signs I LOVE BANDIT SIGNS!! Yes you may feel a little embarrassed putting these out or feel like no one calls from them.. I got over my embarrassment after my phone started blowing UP!
You want them to be straight to the point and very clear. Place them in high traffic areas where you have seen distressed homes. My favorite places are around traffic lights, by home improvement stores, railroad crossings, and the bottom of expressway exit ramps. I spend most Friday nights placing these signs all over town. I do this because if you have code enforcement officials in your area, they probably won't last long during the week. Placing them out on Friday insures you get at least 3 days of visibility. You can buy stands but I have found if you place the stands in the grass, the mowing crews will throw them away. I like to use zip ties and hang them up as high as I can off street signs.

This concludes my list of my top 5 marketing tools. If you like them please share them with your friends! Thanks for viewing and again if you have different favorites please comment!

Derby House, We Buy Houses Louisville

Can't wait to get started on this diamond in the rough! And yes it's a little rough! If you would like to purchase a fixer upper in the Greater Louisville area like this one, check out www.louisvillehousingforsale.com

Tips For Successful Real Estate Investing From HGTV's Scott McGillivray- We Buy Louisville Houses

Most people don’t turn to a home improvement TV host for financial and retirement advice, but Scott McGillivray is more than your typical TV handyman. Watching him in his ninth season of Income Property, and as co-host of the new show Flipping The Block, you only get a glimpse of the businessman, author and real estate mogul who is changing the way people think about creating wealth.

In an interview with Scott, I challenged him to be candid about real estateinvesting and whether it’s really something everyone can do and right from the get-go he set the record straight.

“Of course it’s feasible but you can’t create an income suite in 30 minutes like we do on the show,” remarks McGillivray.  “If you think that,” he added, “you’re in for a bit of a surprise.”

A mantra he shared throughout the interview was, “Real estate investing is get rich slow, not get rich quick,” which is echoed in both his work ethic and business model. “What I tell people is I’m the type of person who is willing to work hard to make a little more,” he said. “I like being able to control my own financial future. Some people may be willing to put their money in an investment where they get some passive return and hope for the best. I’m a bit more of a control freak and like to pick and choose where it goes and have a say in how fast it grows by working harder at it.”

We talked about the real estate market crash and how financing isn’t what it used to be. McGillivray made an important distinction, noting that the opportunity in real estate has to be treated like a business.  Before the market bust, “people were putting money into a pre-construction home that they hoped was going to be worth more money when it was finished. That’s not real estate investing, that’s called speculating and I think the confusion between a real estate speculator and a true real estate investor has given the whole business a bad name.”

In McGillivray’s opinion, trying to figure out whether you’re buying during a boom or a crash is fairly irrelevant. “A successful real estate investing model shouldn’t just have one way to make money. My business model has up to four different ways to make money… and the number one indicator I look for is not market value but positive cash flow… and that calculation is completely different.”

“Using cash flow as an indicator to whether a property is a good investment or not helps protect a buyer from being stuck in a scenario where not only is the value not there, they’re actually losing money.” He illustrated his point with a personal example. “I have properties that aren’t worth what I paid for them in 2006, however, I’m still making money because I calculated the positive cash flow beforehand, knowing they are still paying down the mortgage today.” Different ways to make money with no pressure to sell.

Click here to listen to Scott McGillivray’s three keys to successful real estate investing, along with what he describes as his hardest job, what it’s like to be famous, and what he enjoys when he’s not working.

Scott has been a real estate investor for over 15 years and has experienced hot and cold markets, as well as those that are just getting warmed up. “In the last year and a half, I have a seen a massive trend in the amount of interest people have in generating wealth through real estate. I have been doing live events for seven years and attendance was low when the market turned south. But recently I was in L.A. and I spoke to 3,000 people in the audience… it was standing room only.”

Generally speaking, McGillivray finds the millennial audience (18-35) to be curious, and the 35-65 year olds more serious about it as an income generator. He finds this age group the most prepared and motivated to start doing something because of triggers such as the need for extra savings and income for retirement or seeking financial alternatives to help put their kids through college. “It’s a reality check,” said Scott. “They’ve seen their investments go down and may have seen some equity in their own property go down at some point, and now they are thinking, ‘I need to do something different.’”

His advice is simple: “If you want to do this – do this! Don’t just talk about it… learn about it… and think about it. You actually have to do it. It’s very hard for people to take that final step because there are a million excuses not to try something different because everyone is scared and they have their comfort zone.”

A starting point can be as simple as renting a room in your house. “I know a lot of people who, for example, rent a room to a foreign exchange student. And that’s a great way to bring in some income. Other people create an entire income suite in their home and rent it for even more money. Then you have those who to take it to the level that I enjoy, which is strictly real estate investing: purchasing a property, finding tenants, and reaping the rewards of the long-term investment.”

While the results he creates on his shows may be both profitable and inviting, every project he has taken on hasn’t been a success. “I have done maybe 30 or 40 flips and I made money on maybe 80% of them. The other 20% maybe broke even or even lost some money on them.”
He adds that “It’s not how hard you fall, but how quick you get back up.” He admits that failure is part of any successful business and that you have to include setbacks as part of your overall plan. “There will always be a month of vacancy here or there so you can’t expect to have a perfect track record.  Mistakes are there to tweak you and make you better… to keep you on your toes.”

Top Real Estate Trends for 2015

Along with green shoots and chirping birds, one sure sign of spring is popping up in neighborhoods across the country: For Sale signs.

As the weather warms up, so does the housing market, and experts say this year’s spring selling season is shaping up to be an active one. Whether you’re buying or selling, here are the trends you need to know about.

1: Home prices are rising, even hitting record levels in some places. Home prices nationwide rose by 5.7 percent in January, compared to a year ago, with prices hitting record highs in Colorado, Texas, Wyoming, and New York, according to CoreLogic.Prices are so high in certain areas that some economists are starting to worry about localized bubbles. In most markets across the country, however, gains of around 5 percent are seen as stable, sustainable growth, a welcome change after years of roller coaster changes.

2: Mortgage rates are still low … for now. At less than 3.7 percent, mortgage rates are haven’t been this favorable to consumers since 2013. “Even though rates are expected to rise as the year progresses, for now these rates are really at very low levels,” says Greg McBride, chief financial analyst at Bankrate.com. To be safe, once you’ve got a closing date, consider locking in your mortgage at today’s rock-bottom rates.

3: It’s still a seller’s market. Total housing inventory at the end of February increased 1.6 percent to 1.89 million existing homes for sale, but that’s still 0.5 percent less than a year ago. Unsold inventory is at a 4.6-month supply, giving sellers a slight advantage in today’s market. (A six-month supply is considered a healthy market.)

4: Buyers want turnkey properties. Even with tight inventory, buyers are looking for properties that are move-in ready and won’t require much more than a coat of paint. “Buyers don’t want to assume any risk with properties that need work, particularly first-time buyers with limited cash resources,” says Budge Huskey, chief executive officer at Coldwell Banker Real Estate.

5: Foreclosures are no longer a factor. After peaking in August 2006 just before the housing bubble burst, foreclosures are on pace to return to historic norms this year, according to RealtyTrac. Foreclosure filings fells 4 percent in February to their lowest level since 2006.

6: Investors are backing off. Ordinary buyers in recent years often found themselves competing with investors. “Today’s houses are getting less desirable for investors because price points are going higher, so it doesn’t pencil out as much,” says Daren Blomquist, RealtyTrac vice president. The share of homes going to institutional investors or all-cash buyers dropped in 2014 to the lowest level in four years.

7: In most places it’s much cheaper to buy than to rent. Soaring rents in recent years have made buying a home much more affordable for those who want to stay put than renting one. Nationally, U.S. renters spend an average of 30 percent of their income on rent, versus just 15 percent of income on mortgage payments, according to Zillow.

8: Credit is getting looser. Fannie Mae and Freddie Mac have introduced new lending programs that allow borrowers to put just 3.5 percent down on a home – although this comes with risk, of course. The Federal Housing Finance Agency recently reduced the cost of mortgage insurance by half a percentage point, which will save home buyers an average of $900 per year. All of this makes it a little bit easier for first-time buyers to qualify for a home loan. “It’s still not easy to get a mortgage, but it’s not as hard as it was a couple of years ago,” says Bob Denk, an economist with the National Association of Home Builders.

9: New homes are smaller and greener. The average new home in 2015 was expected to be about 2,200 square feet, or 10 percent smaller than the average new home five years ago, according to the National Association of Home Builders. Millennial buyers and downsizing boomers want a smaller carbon footprint and a more eco-friendly home with energy-efficient windows and plumbing.

Eagle Thirteen Properties/We Buy Houses Louisville

10 Tips for Real Estate Investing

          Real estate investing is at an all time high right now and for good reason. If you watch any of the flipping house shows you will know why. They typically start with what looks like an amazing deal followed by problem after problem and show the investor making 50 to 100 K at closing. They all seem to have a spouse or partner who wants to "overflip" the property but end up getting more for the home in the end. They really make it look glamorous and easy. This is NOT real life! You have to work hard, hit the streets, market like crazy, and always stay up on the latest trends and laws.  Here are my top ten tips for real estate investing on any level.

1. Stay Honest  I was always taught that in the end if you do good, honest business that good things will return to you ten fold. I started wholesaling houses and maybe I could have been shady and made more money on one deal but I was honest and have made money on SEVERAL deals. If you are honest and make this a win/win situation for people they WILL refer you.
2. Have a Heart  Most people on this side of investing don't truly want to sell their homes but are doing so because of financial strain, too much upkeep, or a combination of both. I really try to help all my sellers out of a tough situation while making a decent profit. I've struggled in the past and it sucks and can be very embarrassing. Try to understand where they're coming from.
3. Answer your phone  I have gotten several deals strictly because a seller tried other investors first and said they couldn't find one to answer their phone. I know it can be scary at first talking to a stranger but if they are that motivated they were inclined to call there is a GREAT chance you are MISSING THE DEAL if you don't answer!
4. Don't promise something you know you can't deliver   How many times have you seen a bandit sign that says "can close in 2 days"? Heck most times you can't even get a title search back in my area in that amount of time. One of the worst feelings is having to go back to the seller and say sorry I can't get that done. It will pretty much kill any referrals for more deals and make you look like you don't have a clue what in the hell you're doing. 
5. Market like crazy  Bandit signs, Google Adwords, Craigslist, Twitter, Facebook, etc.  I began with a small google adwords campaign and about 5 bandit signs. I was getting a few calls here and there and then BANG! I put out a few more signs on a Friday night before Memorial Day ( at least a 3 day sign placement) and I was so busy I had a long list of appointments to look at all these homes. Here I was a newbie and freaking out! Did I land all those deals, no but at least I got a chance to bat. If you don't get out there and market yourself who will?  
6. Don't quit your day job  I still work full time and invest on the side. I will continue to do so until I have reached my goal of 20 buy and hold properties and a great continuous cash flow. I started off wholesaling to gain capital which lead to some fix and flips and now I'm concentrating on buy and holds. People who quit everything to concentrate on investing are destined to fail unless they start off with great capital and possibly a great mentor. I would NOT recommend this!
7. Set reasonable goals  What do you want out of real estate? Do you want side money, a new career, to be your own boss, to fire Donald Trump some day? Start small but always dream big. Set your goals to something that may seem a little uncomfortable but attainable. Don't expect to start off making millions your first year. If you set your goals too high and you don't reach them you are far more likely to quit. If you do become a millionaire in the first year we need to talk! 
8. Keep great records Keep all expenses and earnings separate from your personal finances if at all possible. Maybe start a business checking account or try to apply for a business line of credit. It's hard to ask for credit though if your business is just getting started FYI. I started a LLC to obtain my properties under. It cost me $40 through my state website and was very simple to do. Anything you can do to keep things separate, DO IT!
9. The correct forms for your agreements Make sure you cover your backside just in case something unforeseen happens and you have to walk away from a deal. I joined the epartner software through Freedom Mentor but there are free sites out there as well. If I had it to do over again I would probably have joined BiggerPockets.com and started out for free. I am a member there now and it is awesome for getting free real estate agreements and free info from investors who have been there, done that. Freedom Mentor has been great as well and does offer live coaching calls to discuss any problems that can and will pop up but is a little pricey in my opinion.
10. Don't be afraid to pull the trigger! Most people aren't comfortable calling up strangers, knocking on their front doors, or going to view their homes. It's like a blind date. What could happen on a blind date? You could get a crazy psychopath that is clingy and wants to marry you. (Sorry, that was a little too personal.) Or you could also get some wonderful opportunity that you would have never thought possible had you not gotten out and gone for it! If you got the right paperwork as I stated in step 9 then how much risk is there in a risk free contract?? ZERO!! Take a deep breath, make sure all your ducks are in a row, and PULL THAT TRIGGER!

       I really hope these tips will help you to become the successful real estate investor that you want to be. I am having a blast with investing and my only regret is that I didn't begin sooner. Don't be like me, GET GOING! Happy investing!

My Top 50 ways to find true, motivated sellers in ANY market

50 Ways For Real Estate Investors To Find Motivated Sellers in no particular order

       Here is a list of my favorite and proven ways to gain motivated sellers. With any list if you don't put in the work, it won't do you any good. Print this out and hit the pavement! Good luck and please share!

1. Section 8 Landlords: Each county maintains a list
2. TV and Radio: Local stations & cable companies have free/low-cost spots
3. Title Companies: First ones to know when a closing does not pan out.
4. Tax Deed Sale Properties: Easy to get a list from county and state.
5. Social Media: Facebook, Twitter, YouTube, Pinterest, Instagram
6. Small Home Builders: Often buyers are trading up and may have trouble selling current home
7. Retirees: Excellent prospects for seller financing and homes with equity.
8. Rental Agents & Property Managers: Has a list of non-owner occupied owners and can identify landlords eager to get rid of cash-flow property.
9. Nursing & Retirement Homes: Frequently residents and family members need to sell a house or don’t want to deal with tenants.
10. Networking: Connect with Investors online, Call We Buy Houses ads & signs, Investment Associations &  Clubs
11. Mobile Homes: Get to know park managers. Sellers have hard time dealing with banks.
12. Market Bulletin Boards: Coffee shops, Restaurants, gyms
13. Car Signs and Wraps: Tell the world that you “buy houses” while running your errands.
14. Local Fast Food: Many sell advertising. Pick a target neighbor and test.
15. Lis Pendens: Notice of a law suit, usually a foreclosure.
16. Lenders: Banks / REO’s: – Mortgage Brokers, Private Lenders, Hard Money Lenders
17. Judgments & Liened Properties:  Public county or city records, Mechanics Liens, HOA Liens, Tax Liens
18. Investor Packages: May be able to negotiate seller financing as well as terms
19. HUD Foreclosures: Internet: Rent Clicks, EBay, Craigslist, Wholesale Sites, Lead Services, USLeaseOption.com
20. Funeral Homes: Good source for inherited property or upcoming sales
21. FSBO Signs: for sale by owner
22. Flyers:  Think Shopping Centers, Wal-Mart, Home Depot, Malls. Put on car windshields or pay someone to do it for you. Use quarter or half pages and print on both sides.
23. Insurance Brokers: Policy changes from owner occupant to landlord or vacant house coverage.
24. Farm & Drive for Dollars: Study a local neighborhood and establish yourself as the go-to problem solver for distressed owners and distressed property
25. Military Bases: Great market for  those needing to sell quickly
26. Expired MLS Listings: Get automated email list from a real estate agent.
27. Eviction Court: great place to find landlords
28. Estate Sales – sometimes tied to probate and chances are the real estate will also be available soon or be transferred to an unwanting relative
29. Door Knocking: Distribute flyers and go door-to-door asking residents if they know of anyone planning to move because you’d like to buy a house in their neighborhood!
30. Door Hangers: You can also use pre-printed post-it notes to leave messages at target properties. Be sure to advertise on both sides, you can even sell the back side and recover your advertising cost!
31. Direct Mail: Pre-Foreclosure Letters, Probate Letters, Out of Town Owners, Bankruptcies, Divorce, Delinquent Taxes, Military Owners
32. Delivery Carriers: Think Postmen, Newspaper, Fed-EX, UPS, water delivery, Swanson guy. They can let you know who is moving, vacant houses, financial trouble, about to sell
33. Credit Repair Agencies & Counselors: Many times the only way someone can get their spending under control is to sell a house they can no longer afford.
34. Courts: Eviction Filings, Probate, Divorce Cases, Tax Liens, Code Violations
35. Personal Finance & Car Lot Finance Companies:  Good lead source for people who are in financial difficulty and used to dealing with “terms”
36. Condemned Houses: Many counties will provide you a free list.
37. Classified Ads: Look for specific keywords that could possibly mean the seller is motivated such as:  transferred, motivated, divorce, owner financing, must sell, etc.
38. City & County Inspectors: Code violations and red tags. If you develop a reputation of buying distressed properties and improving them, you become an asset to the community.
39. Car Repos: Signs of financial trouble. Get a list from repo specialist or wreckers.
40. Price Reduced MLS Listings: Get automated email list from a real estate agent.
41. Business Cards: different types: one for sellers, one for buyers, and one for professionals. Word of advice – you have to remember to pass them out.
42. Bird Dogs: These people can be very valuable to your business. It is important to know your local laws about compensating unlicensed people, however, so do your homework first!
43. Auctions: Often times, you can catch a good deal in a tax sale by beating the Auction deadline. List provides property address so you can contact owner.
44. Attorneys: Think probate, real estate attorneys, family law, and divorce.
45. Advertising: Daily, Monthly, Simple: Quick Closing, All Cash etc., We Buy Houses Ads, Newspapers, Flyers, Online
46. Make Ready & Carpet Cleaners: Many of their customers are preparing a house for sale.
47. Accountants and CPA Firms: They have clients that might need to get find of assets (houses) for tax purposes and can identify clients that have unwanted property or rentals. Also great place for getting a list of retirees with free and clear homes open to seller financing.
48. “We Buy Houses” Bandit Signs: Check your local sign ordinances.
49. Damaged/Distressed Houses: Looks for blue tarps on roofs, boarded up windows, overgrown yards, etc Contact the owner to see if they want to sell the property.
50. Withdrawn MLS Listings – Get automated email list from a real estate agent.

5 Unconventional Property Investment Tips

Originally posted by Brandon Turner

1. Don’t Learn Too Much

Seriously, you’ll drive yourself crazy and never get anywhere.

You see — there are WAY too many things to learn about when buying an investment property.

Flipping. Renting. Landlording. Mortgages. Subject To. Lease Options.

My head already hurts.

Instead of trying to master everything, take the “Tim Ferriss” approach and learn just what you need to know in order to get your goal accomplished.

I promise — the rest you will learn along the way.

For example, let’s say you want to invest in small multifamily properties. Great! Then why the *$&# are you reading about wholesaling? Stop it. Now.

You don’t need to know everything to get started with something.

There will be plenty of time for learning those things later.

Now, what if you don’t know what you should learn?

Good question, and something a lot of people ask. After all, you don’t know what you don’t know, and everyone starts at zero.

Related: Does Education Paralyze Us? An Argument for Action in Real Estate

If this is you. Focus on learning as much “general” information as possible until you decide what you should focus on. Then focus!

I recommend listening to as many episodes of The BiggerPockets Podcast as possible, not just because of the charm and good looks of the hosts (ahem…), but because of the variety of stories you will hear. You’ll learn from those who are just getting started, from those who have been investing for decades, from flippers, from wholesalers, from landlords, and from those with expertise on so many other niches and strategies. You’ll get real-world information about the different kinds of investments from those actually doing it everyday! If this doesn’t help you identify what niches or strategies you should focus on, nothing will.

In addition, I recommend reading through The BiggerPockets Ultimate Beginner’s Guide to Real Estate Investing, which you can read online right now.

Let’s move on to another unconventional property investment tip…

2. Most Property Investments Are Not Right for You

What is the best kind of property investment?

There isn’t one. But there are a lot of bad ones — for you.

There are millions and millions of properties, and the VAST majority are not right for you.

Here’s why:

You (yes, you with the face. I’m talking to you!) have certain talents, skills, and gifts that no one else has. That’s right: you are an original. No one else on planet earth has the same combination of experiences and natural born abilities as you.

I don’t say this to make you feel good; if anything, it makes you kind of a weirdo.

However, that unique set of experiences and abilities make certain types of investing better or worse for you. As we talked about above in the first of my property investment tips, you need to focus on the ones that are right for you.

What is the right path?

Hard to say — I’m not you.

However, ask yourself these questions… it might help you decide:

• How much free time do you have?
• How much money do you have?
• Are you “handy?”
• Are you good at managing people/contractors?
• Do you like being involved in your investments?
• How quick do you need to build wealth?
• Are you looking to quit your job?
• What is the real estate market like in your area?

Then, as you learn more of the “general knowledge” about real estate, pay special attention to what niches or strategies work best for you, your goals, and your skills.

Moving on…

3. Having a Lot of Money Can Hurt You When Investing in Property

Want to know what scares me more than almost any other email I get?

When someone tells me “Hey Brandon, I’ve got $350,000 to invest, and I’m ready to jump in!”

AGHHHH!

Slow down there, shooter.

I’m happy that some people have money. They’ve probably worked hard — or were born into the right family. They are doing the right thing by wanting to grow that wealth. And real estate is a good way to do it.

However…

When you have a lot of money, buying real estate is very easy. And that’s dangerous.

Real estate is a risky business when you are first starting out, and having money can make it even more so.

You see, when you are investing without a lot of money, you are forced to use other people’s money, and other people are usually better at being objective in a deal.

For example, let me paint a picture for you:

Let’s say you find a nice single family home you want to buy and rent out. The purchase price is $100,000. You really like the beautiful front porch. The kitchen is gorgeous. The property is in a little bit of a rough neighborhood, and the taxes are crazy high — but you just love the property. You know it will rent for around $600 per month and figure it will be a fairly stable investment. You take $100,000 you have in your bank and buy the property.

See anything wrong with this picture?

Most likely, this deal is not going to be a good investment. Had you run the numbers through the BiggerPocket Rental Property Calculator, you would have noticed one simple fact: The property loses money every month!

Now, if you were using other people’s money, they would have likely helped you figure this out before buying the property. Your hard money lender, bank loan, partner, or whoever else would have likely told you what was up. Or you simply would have done a better job analyzing the deal because there was more at risk than just your own cash.

Now, I’m not saying a person should not use a lot of cash to invest in real estate with. There are responsible ways to do it, and how much leverage you want to use is a personal decision. However, if you have a lot of cash, recognize that this is a liability, not an asset to your investing goals. If you do have a lot of cash, pretend you do not.

No matter how much cash you have, when analyzing deals, run the numbers like it’s your grandma’s money on the line.

If you currently don’t have a lot of cash to invest, you are in luck. BiggerPockets just released The Book on Investing in Real Estate with No (and Low) Money Down written by yours truly. You can pick it up on Amazon or check out “The Ultimate Package” by clicking here.

Okay, let’s move on to one of the most controversial tips on this list…

4. Plan on NOT Hitting Your Goals

Am I crazy?

Probably.

But I think you’ll agree with me on this property investment tip once I explain myself.

Everyone knows that setting goals can help you achieve greater success. However, what most people don’t know is that setting goals too low will hold you back.

I’m currently reading The 10x Rule by Grant Cardone, as recommended by Anson Young on the96th episode of the BiggerPockets Podcast. One of the key points in this book is this: if you set your goals 10x higher than you originally thought you could reach, you may not achieve the goal, but you’ll get much further than you had original planned for.

Mark Ferguson, a writer here on The BiggerPockets Blog, made mention of this phenomenon in his post, “Why Making Big Goals Will Make You More Successful.” Mark’s goal is to buy 100 single family homes — which may seem like a near impossible feat to most. However, what Mark understands is this: if he pushes hard to obtain those 100 homes but falls short and only obtains half of that… that’s still 50 houses! Had he set his goal at 10, all his actions would have worked to get him there and no higher.

By setting large, almost unattainable goals, you shift your mindset and begin looking at those problems in a new light and with a new plan of attack.

So what is your goal with real estate investing?

Seriously, what is it? Are you thinking of it right now?

I think you can do better. I think you can do 10x better. Can you? What would you need to shift in order to make this possible?

Sure, when you “plan to miss your goals,” you may be slightly disappointed you didn’t hit the high goal, but you’ll be far more successful than those who kept the bar low.

And I think that’s a great trade-off.

5. What Worked for Me Probably Won’t Work for You

If you’ve been around BiggerPockets for any length of time, you probably know a little about me.

I’m not saying this to toot my own horn; I’m just saying that I put out a lot of content here on BiggerPockets!

As such, you’ve probably read my articles, listened to my story on the BiggerPockets Podcast, read my new Book on Investing in Real Estate with No (and Low) Money Down, attended one of the popular BiggerPockets Webinars, or heard me offer advice at a local real estate meetup. I love to tell people what I’ve done, so you can learn what to do and what not to do. I hold nothing back and share every victory and failure in my career.

However, let me disappoint you:

Most of what has worked for me won’t work the same for you.

I’m sorry.

It’s not that I’m making up things or trying to deceive you. The stories I have told are 100% true, and I believe you can become a better investor through the words I say and write. However, I am not you.

Related: Multi-Family Properties: Unconventional Ways to Increase Value

There is no “instruction manual” when it comes to investing in real estate. You are not putting together Ikea furniture; you are building a real estate empire. And as such, no one is going to do your job for you. You could read every book on my “21 Best Real Estate Books” list, but they aren’t going to do your job for you, either.

Only you can
prevent forest fires change your life.

I can tell you all about how I bought a 5-plex for $90,000 and used a private loan from a fellow BiggerPockets member to finance it… but you are not going to find that same property and get that same loan. You live in a different area. You have different connections. You have different skills. This is a different time period. (Though you can learn about that propertyhere.)

Instead of trying to copy exactly what I, Mark Ferguson, Ben Leybovich, Josh Dorkin, J. Scott, or any other BiggerPockets members talks about doing, focus on learning to apply the lessons to your life, so you can figure out your own solutions.

Can you buy a 5-plex for $90,000 in your area? Maybe not. But can you go out and find a smoking good deal on a multifamily and use a BiggerPockets member to supply the funding? Probably.

Do you see the difference?

It’s a shift in the way you think. Rather than look for the answers to the next test, look to actually learn the material, so you can handle any test.

More Property Investment Tips

That didn’t get too crazy, did it?

I hope you can see where I’m coming from with these investment tips. Real estate is not a “conventional” investment and, as such, we need some unconventional advice from time to time.

However, I only listed a few tips above. I would love if you would help me add to this list by leaving a comment below.

Do you have any tips you want add? Or let me know what your favorite tip was!

Onward and upward,

Brandon