Minnesota Real Estate Investors Association, Inc.

Imagine this scenario… 

You find a good piece of real estate that you decide to buy. 

You have little money to buy it, but you decide to use whatever money you have as part of your down payment. 

You get qualified for a 90% LTV loan. 

You call around and you are able to raise the remaining money you need for the down payment from your close friends and family. 

You promise to pay them a generous interest rate of 8% for lending you their hard-earned money. 

The following month, you find another good real estate property that you want to buy.

You have no money to buy it, but you know you can raise the money. 

You have great income and credit and once again you get qualified for a loan with 90% LTV.

You call around and you are able to raise some of the money from your close friends and family. Again, you promise to pay them a generous interest rate of 8% for lending you their hard-earned money. 

This time, you remember about a line of credit you have, and so you decide to use all of it to close the deal.

You’ve now raised
Read More...

When it comes to making offers, most investors only know how to make one offer at a time.  They usually make an all cash offer, also known as the MAO (Maximum Allowable Offer) or they get a loan from a bank, hard money lender or a private investor.  This strategy has worked fine for investors and if you are only making offers on bank REOs on through the MLS, then a cash/MAO offer is really all you will be able to make.

The average number offers to get one accepted with this approach is 20-40 offers to get one accepted in today’s market for most of the country.  Some more experienced investors have been able to reduce that number down to about 5-10 offers to one acceptance by being very selective on what properties to make offers on.  In other words, they know from experience that certain properties from certain banks or listing agents simply will not accept their offers so they don’t even make the offers. 

The secret to success in the real estate business is making offers.  The problem is that most investors use the same offer process when dealing with sellers directly and they are missing some huge opportunities if they just knew how to create alternative offers that don’t require cashing out the seller.

Ask yourself these two questions:
Read More...

On our Monday night Training Webinar, I was asked a question from one of our students about driving traffic to their free website that everyone receives with their free account at Real Estate Promo. I gave them a suggestion to find another investor who has a property for sale right now and get their permission to market that property(s) on their websites. Then start creating ads on craigslist, kijiji, backpage and other online / offline marketing medias. This sparked a lot of interest and questions, so I decided to post a blog about the idea for everyone.

One of the struggles new investors have is activity. They spend all their time learning how to invest in real estate, but they don’t take a lot of action right away. This is probably due to fear and their misconception that they need to learn everything before they take any action. I am sure a lot of you seasoned investors can relate to this feeling of a newbie. Our Free Weekly Webinar Training is designed to not only to educate the new investors, but also to encourage them to take action, even if it is just small little baby steps to get started.

One of the struggles for seasoned investors is selling/renting their inventory. Personally from my own experience, my biggest struggles is when I have a property for sale, I spend all my time trying to fill the property that I stop doing what I am good at, which is locating and negotiating good deals. After I have that property filled, I then get back to finding more deals. All that time I have been marketing and driving traffic to my website. But if I don’t have any properties for sale on my website for a month or two, I am wasting good traffic from buyers, so I occasionally will market properties from fellow investors, just so that I have activity on my website. 
Read More...

It’s hard to imagine a world where there is no wholesaling. To picture a world where wholesaling doesn’t exist almost seems unfathomable because it is such an essential part of business where the focus is on goods. Though it is nearly impossible to imagine a world without wholesaling, it is still something that is hard to give the appreciation it deserves.

Sure it is easy to refer back to the old common understanding that wholesaling is the matter of buying something and one price and turning around and selling it for more. We can all think of numerous examples of wholesaling outside of real estate and we understand what it is in terms of real estate. However, what lies beneath the surface of this seductively simple definition can provide you with your own set of understandings that will allow you to grow your business in ways others can’t… because they’re not you.

One key to success that I tend to trumpet whenever I get the chance is to apply differentiation to your business and the best way to differentiate is to understand the surrounding roles and factors of your field and where you fit in. Recognizing what you can do and where that fits in to the bigger picture is key!
Read More...

In today’s economy, you need a financial plan that will increase your monthly income to handle down markets. I have been a big believer in multiple streams of income over the years and over the last year, I am so glad I spent the time over the last few years to generate multiple streams of income.

Today there is a new online source that I highly recommend everyone uses. It’s Free, it’s easy to use and it pays you up at least 10 levels deep. Blastoff is an online shopping mall that makes you money every time someone in your network makes a purchase, and best of all, they also get paid. So you are doing them a favor by recommending Blastoff to your friends. They will thank you for it because they are earning cash back on every transaction they make, and so are you.

You can shop online at places like Target, Best Buy, Starbucks, Kohls, Bas Pro Shop, CompUSA, Circuit City, Tiger Direct, Priceline.com, Expedia, Hotwire, Macy’s, iTunes, Old Navy, GAP, Barnes & Noble, GoDaddy.com, Sears, Hotels.com and many many more…

Give it a try, it is FREE and you can start earning right away... Blastoff Now!