Real Estate Investing Facts

Today, we will be talking about the subject of property estate management, and the one thing that we will be concentrating on are the various systems that are available for you to be able to achieve this. We will be looking at the various functions of many systems so that you would be able to manage and understand the various elements of these systems and how you are going to be able to find the one that really suits you best. If you need to find out more information, you can simply go online and search for more detailed information.

One name that they go by is the RMIS system, or the real estate integrated system, which is a system that can be used to track the many residents and tenants that you might have under your management and lease schemes. Of course, you will also be able to install and track many of the lease terms of the rental agreements that you will also have. Most of the systems that are available, will provide you with reminder systems that will definitely allow you to track your renewals and reminders that you require to remember

Billing statements, statements of accounts and any other arrears that you might be experiencing with any of your tenants should also be a part within the systems. Subsequently, accounting is one of the main important factors of the system as it allows you to be able to track many of the financial statements that you might be running on your end. A good and efficient system will allow you to run a smooth operation, a system like the RMIS will be able to help you out with property estate management.

The system is good because of the fact that whether or not you have one or many properties, the system allows you to actually manage your entire operation on a day to day basis. When you are searching through the many systems on the market, set a budget for yourself in order for you to know how much you are willing to spend on one. Many of these systems can be found online, and this means that you do not have to spend your time looking for physical programmes. You can simply go online and download the product from any of the companies that are registered. If you need more information, go online and read up on more of these systems that are available.

Foreclosures in the United States.

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We all have friends or know someone who is very handy around a house. When it comes to a home inspection always use a professional and well respected home inspector. You want someone trained to go through the properties you are going to buy. This is probably the cheapest insurance policy your going to pay for.

A good home inspector will provide you a complete report on everything, good and bad, in and around the property.

What ever you do, do not cheap out when it comes to getting a home inspection.

Canadian Foreclosures

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Hans Anderson

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One of the chores involved when investing in real estate is contacting and talking to preferably only motivated sellers, and steering clear of the rest. Home owners dealing with preforeclosures will be the most motivated sellers you will come across. Their world has been turned upside-down, They are about to lose their home, everything is about to change.

At this point they are so motivated, they just want their problems to go away. When you purchase pre foreclosures from people who are motivated you can easily create 25% or more equity spreads on properties, more often then not in good condition.

Hans Anderson

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Tax lien certificate sales are created when a  tax lien is used by the government against tax defaulters to compel them to settle their accounts, or to recoup some taxes from those taxpayers who do not pay at all.  Tax lien properties are put on lists of tax foreclosures that can be sold to investors who will find a tax lean to be quite profitable to invest their money in.

The government can place a tax lien on a person who fails to pay his property taxes despite repeated reminders, the amount of which is equal to the amount of total tax owed by the tax payer. This is essentially some kind of debt of the delinquent taxpayer, which needs to be negotiated with the government before his property that becomes a part of those under tax foreclosure, can be cleared of the problem.

The lien on the property of a delinquent taxpayer can be placed in a tax lien auction, where many other properties under tax foreclosures are offered for sale to potential investors. These disposals of the “Tax Lien Certificates” in the auctions enable governments to have access to cash. Authorities sell off these tax liens in tax sale auctions that are generally held once a year to prospective buyers in bidding procedures where the investors can have their choices from the properties offered.

Tax lien certificates entice potential investors to go for them as they have high interest rates ranging from 10% to 25% per annum, which are added on the tax lien offered for sale. The property owner had better act on his problem fast, as the interest on the tax lien starts accruing to his account from the very day the tax lien certificate is actually sold to the investor. The investor on the tax liens makes more money if the property owner does not settle his account early enough.

The price of tax lien certificates is the total of the delinquent taxes owed by the property owner, the related interest and the cost of sales associated with it. An investor holds on to the tax lien certificate which is his legal claim on the investment and property associated with it. This certificate when issued to an investor can end up in either of these two possible situations:

1. When the concerned property owner is not able to pay the delinquent taxes in the time allowed him, this situation, after following certain legal procedures and paying off the remaining liens and other taxes due related to the property, allows the tax lien certificate investor to get to own the entire property in question.

2. The second outcome which happens in nearly 95% of all cases of tax lien certificates, is when the tax defaulter raises the money he owes for his required payment, saving his property from being foreclosed. The investor gets his money he invested on the purchase of the tax lien certificate and the accrued interest thereof, when a tax lien certificate is redeemed this way.

Hans Anderson

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The old saying is “Give a man a fish and feed him for a day. Teach
a man to fish, and feed him for a lifetime.”

Today, I’m going to begin to teach you to fish.

The Most Important Strategy for finding great deals is to learn to
think backwards. Here’s what I mean:

You want to make money from real estate, right? That means you’ve got to find great deals. What is a great deal?

Find Great Deals

A great deal is a scenario that will likely lead to your making a
profit. The two most obvious things to look for are:

- Houses you can buy far below their actual value

- Houses that include very favorable financing

Let’s consider the first scenario: buying property below value.
The question you have to ask yourself is this: Why would anyone
ever sell a piece of real estate for less than it’s actually worth?

Oddly enough, there are many, many reasons for this:

- The owner doesn’t know what the property is really worth

- The owner has been trying to sell their house for a while, and they’re just ready to “get it over with”

- The property is in bad condition, and the owner doesn’t want
to fix it

- The owner is facing foreclosure and will lose the home if he/she doesn’t sell

- The owner is an “estate”, and the heirs of the estate just want to see some money as quickly as possible

- The owner is facing significant personal or family challenges
which require him to move a long distance away very quickly and so
he’ll take a low price in exchange for a fast sale.

There are many other reasons as well, but this is enough for our
example. So, continuing to “think backwards”, the next question
is: How do I find out which home owners are facing these challenges?

Let’s consider one example: Properties in bad condition. Since we agree it’s reasonable that a home in poor condition represents a potential opportunity, it follows that we need to find some of those properties! But how?

Finding Fixer-Uppers Strategy #1

One way is what some people (with too much time on their hands
do this is called “Driving For Dollars”.

It’s really simple: They get in their car on Saturday morning They then drive around in neighborhoods for hours at a time looking for properties in disrepair. Some evidence to look for is: Broken windows. Tall grass. Signs of abandonment. You get the picture…Does this work? Yes. Is it time consuming? Yes, again.

So let’s think backwards again – what is another way that we could
find properties in disrepair?

Finding Fixer-Uppers Strategy #2

Who do you know that already does a lot of driving around in your
area? Postal workers? Pest control companies? Appliance
repairmen? Etc. The point is this: You probably already know
somebody who must spend their time driving around anyway, so why not offer them a simple “bribe” to help you out?

For example: Offer them a few bucks if whenever they see a rundown property, they’ll write down the address for you and take a couple of pictures of the outside. Or maybe instead of money, you’ll buy them a nice dinner once a month or so. Pretty easy, huh? Pretty cheap, too.

Finding Fixer-Uppers Strategy #3

Wouldn’t it be better if instead of driving around (whether it’s you or someone you bribe), you could just get a simple list of properties in disrepair? Well, you can!

It works like this: Pay attention to other real estate investors you know – the ones who do a lot of rehab deals. Find out which real estate agents that they use. Then contact those agents and form a relationship with them. Why? It’s likely that the agent is finding some of the deals for your investor friends. And you can be sure that the agent wants as many ready, willing and able buyers as possible – including you! Also ask the agent for names of other agents who do a lot of fixer-upper business.

Thinking Backwards, Revisited

It you consider what has happened here, it’s pretty impressive.
At the beginning of this e-Lesson, the question was how to find
great deals. By just thinking backwards a bit, the question has
changed drastically. Now we must ask: Which (or how many) of the 3 strategies discussed above will you use to find great deals?

Now that you know how to “Think Backwards”, I challenge you to
consider other circumstances mentioned before, such as foreclosures, estate situations, etc. “Think Backwards” about each
one so you can come up multiple strategies for discovering great
opportunities of all kinds…

Aiden Win Mr. Foreclosure

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P.S. Another strategy is to have deals sent right to you in the
comfort of your own home. As a Foreclosure Insiders Club member,
you get access to the hottest pre-foreclosure deals, some which are perfect for a rehab / renovation project. Join Today

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Investment property financing is available.

if your in the Greater Toronto Area and you are looking for investment financing please contact me. There are lenders who are accepting applications for financing investment properties Click Here to Email Me

Brokerage License #: 10801, License #: M08002232

Hans Anderson

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I have created a new category named “United States Foreclosure Articles”. All the information and links in this category is written for investors looking to purchase investment properties in the United States from within the United States.

Most of the information that you will find here will be beneficial to investors from Canada as well as those from the United States. Just remember that certain information such as the Laws of the United States will be different then the Laws from Canada.

If your looking for information to help find investment properties in the United States, this link is for you. United States Foreclosure Lists

Hans Anderson

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If you have ever considered getting into real estate investing, there has never been a better time then now with all the foreclosed houses for sale. Don’t let this opportunity pass you with all the government foreclosure homes available.

With a 30 year historical high, buying foreclosures can launch you towards your financial goals. You owe it to yourself and your family to stake a claim in this modern day gold rush.

The banks and courts are overloaded with abandoned properties, seized houses, foreclosed mortgages, forfeited apartment buildings, and raw land that can be obtained very cheaply by bidders who are ready to take over the Forfeited Properties either for their own use or for resale to the general public.

You can get great foreclosure information at Foreclosures they will supply you with a steady stream of properties and information.

This is on of the greatest wealth creating opportunities that we will see in our life time. Don’t miss out.

Hans Anderson

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