Jonesboro Real Estate Resources

With a lot of folks facing challenging local real estate markets there has been a lot of talk lately about wholesaling outside of your local market or virtual wholesaling.

Yes, wholesaling outside your local market can be done and a lot of the tools I teach can very easily be adapted to this type of investing, but I have one warning for you before you start and before I continue to share some information about it: if you are not willing to do the work that is required to build a buyers list, find deals and talk to buyers and sellers about properties in your local market, then doing it across the country still won't work for you.

With that being said... if you are willing to build a buyers list, talk to motivated sellers to find deals and put them under contract then talk to your buyers list as they inquire about the deal, then yes, this is a viable business model.

In fact, if you sort of cross your eyes funny, it is the exact business model I run here on these sites except I am doing it with a real estate license and skipping a few steps as I'll show you below.

For real estate investors that do not have a real estate license here is a basic overview of how the process works:

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We just had a researcher submit some very basic information about a house for sale in Jonesboro to us and I wanted to share that with you. From time to time, I'd like to take a property submitted to us by our users that is for sale and show you how changes in one (or more factors) can affect various aspects of your investing. This particular property submitted for Jonesboro, Arkansas Real Estate Resources is located at 1405 Hemmingway Cir, Jonesboro, AR 72401.

This 3/2.00 1,456 square foot property has an asking price of $108,000, but let's take a moment to do some calculations to see what our actual price per square foot would be based on various offer prices (both above asking price and below asking price).

As you can see from the table above, if you know what a typical Jonesboro property sells for on a price per square foot basis, you can quickly use the information provided above as a starting point for making your offer. Click on the Price Paid above to start your own analysis on this property using our Offer Generator investing tool.

Do you want to get a bigger paycheck when you buy your next rental property in Jonesboro? If yes, you might be interested in the strategies shared on Jassen's CD Get Paid To Buy Houses - Collect Cash at Closing.

Keep on investing Jonesboro,

James

To start 2009 off right, this week we are giving away Secret No Money Down Tips and Tricks as the free download when you start and finish a game on the Learn To Be Rich™ game this week.

Just register, login, start a new player and play a complete game and at the final game summary page you will see a link to download the course.

Each week, we change the course that you can download for playing a new game and finishing it that week.

Have a great 2009 investing and playing the game.

Until my next post,

James

With one or two properties tracking insurance is pretty straight forward and easy to remember, but adding a few more investment properties and tracking insurance becomes a much more challenging issue. In my office, we use a Property Insurance Report to keep track of insurance on all our properties in a nice summarized page.

On our Property Insurance Report, we track several things. Beyond the basics like property address and the insurance company name, we also track

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A less thought of but very powerful advantage to buying houses "subject to" the existing financing is the ability to buy houses using your corporation or LLC.

Since you are not qualifying for a new loan your corporation or LLC can be the buyer on properties that you are purchasing "subject to" the existing financing.

If you are concerned about Asset Protection and/or privacy of ownership, using an entity can prove to be very helpful.

Often real estate investors will use a trust--in addition to their corporation or LLC--when buying a property "subject to" the existing financing. This is NOT because a trust will not trigger any due on sale clauses, but because it can add an additional layer of asset protection by keeping your name off public record.

See your attorney for more information about how to structure an asset protection plan for you unique situation.

Until my next post,

James

You will need to find a great local insurance agent that understands what you are doing when you are buying houses "subject to" to the existing financing to make sure that property is properly insured.

An Insurance Agent is a key member of your Real Estate Investing Dream Team whether you are buying traditionally or buying "subject to", but since the loan remains in the seller's name, it is important to make sure that your insurance agent writes the correct policy to make sure that you are insured properly.

Remember that insurance premiums can vary widely from company to company for very similar coverage amounts. Be sure to get competitive quotes and to get the quotes BEFORE you buy the property. It is best to know your insurance expenses before you commit to buy a property.

Until my next post,

James

Once you buy a house "subject to" the existing financing, you'd like to be able to sell or occupy the property quickly and with a huge marketing advantage right? Well, being able to offer the property on a "Rent To Own" can give you that marketing advantage and get your property sold or occupied very quickly--especially in our current credit markets.

By offering creative financing options like a "rent to own" to folks with less than perfect credit, but with enough income to afford the property you offer something that only a small percentage of sellers are offering in your market.

Provided you can collect a large deposit toward the purchase and make sure that the

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In my last few articles, I discussed how buying a house subject to the existing financing is similar yet different from leasing a house with an option to buy. I talked about how one is not necessarily better than another, but that each has its advantages and disadvantages depending on what you are trying to accomplish.

Now, I will share with you a strategy for making an offer to buy a house subject to the existing financing where the similarities between "subject to" and "lease options" are used to make a stronger, more understandable offer to a seller.

First, you might suggest in a trail close something like this:

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