Why Real Estate Investors Have Their Own Investment Criteria Finding Motivated Sellers Choosing And Using Your Real Estate Agent Vastu And Feng Shui Question And Answers Realacres
Writing down your real estate investment criteria means writing down your needs and wants in a real estate deal. It means outlining what you are looking for in a real estate opportunity. Having written criteria can help you grow as an investor and can make it easier for you to land the best real estate deals.
If you to join the ranks of real estate investors, you might want to have formal written investment criteria set out for yourself. Putting your investment criteria in writing allows you to see at once whether possible investment opportunities do or do not fit your future plans. This allows you to quickly sort through potential opportunities to pinpoint the right ones.
Writing down your investment criteria also hones your focus and ensures that you have an easier time finding the best possible deals. Having written criteria also allows you to share your criteria with other real estate investors, so that you can learn from them. If you haven’t yet outlined exactly what your criteria are for selecting an investment property, now’s the time to put pen to paper.
When developing your written criteria, consider when you do not want to make an investment. What is the bottom line? Do you not want to make an investment at any time if you don’t understand it? Do you want to never make investments that you cannot pay for if everything goes wrong? Do you never want to make an investment where you cannot handle the worst-case scenario? Determine your comfort boundaries and the level of risk you are willing to accept or not accept, and put this in writing.
Next, when developing your written investment criteria, consider what your ideal investment would be like. What do you do to make sure that your investments are the best possible deals for you? Do you do a certain amount of research using specific sources? If so, write this down. Outline on paper the best real estate deal you ever put together. What were the steps you to that in to be an outstanding investor in that situation? What if you applied the same steps to every real estate deal you made? Would you generate more success from other opportunities? If so, outline exactly what you do when you are at your investment best, and add this to your written criteria. This will help ensure that every deal will at least have the opportunity of becoming as successful as your best deal ever.
Write down your money criteria. Where are you willing to go for financing? How much capital are you willing to put at risk? How comfortable do you feel taking risks with your money? What levels of risk are you willing to take? How are you going to secure your deals? Knowing how you will handle money is very important to you as an investor.
Finally, and maybe most importantly, outline the standards by which you wish to live as an investor. What are the ethical boundaries you’re not willing to cross? What you want to stand for as an investor and what sort of person do you want to be as an investor? This may seem abstract and very much up in the air, but it will help you outline exactly the sort of investment opportunities you want to capitalize on. The best real estate investors have a code of conduct, so you should, too.
Motivated sellers? My wife and I were trying to keep the renters happy, the rent coming in and the house repaired – while living 2100 miles away. You bet I was motivated. We just sold our house last month, and even got a good price, but I’ll tell you a secret. We would have sold the place for… well I don’t want to stress out the buyer if he reads this. Let’s just say we would have sold it for much less.
There’s your first clue on finding a motivated seller. If his property isn’t where he is, he’s probably ready to deal. How do you get this information? By asking. Talk to the real estate agent, the neighbors, and anyone else who might know something useful. Here are some other things to watch for that may indicate a motivated seller.
1. Relocation. If you hear that the seller is relocating for work, ask when he will be moving. He may already be worrying about those double payments.
2. Divorce. Divorce or relationship problems create many motivated sellers. Often a house payment needed both parties, and will have to be sold quickly.
3. Financial problems. A failing business, too much debt or other financial problems often force a sale. Find out if the owner is behind on payments.
4. Tenant problems. It is easy to get tired of being a landlord. It is also common to want to get out at any reasonable price.
5. Probate. If the house is in probate, and the heirs are all waiting to get their inheritance, they may be more interested in a quick sale than a great price.
6. Up-sizing or down-sizing. Owners moving into a larger or a smaller home may already have one in mind and need to sell quickly.
More Clues For Finding A Motivated Seller
Another way to find motivated sellers is to pay attention to the wording of ads in the classifieds. Statements like, “Need to sell,” “Must sell,” and “Will look at all offers,” are good indicators. “Must have a good job,” in a rental ad may indicate a landlord that is tired of tenants and ready to sell. Some other methods:
1. Find neglected properties. If they aren’t maintaining the property, they may be short on cash, tired of it, or out of town – all good motivators.
2. Use property tax rolls. Go to the county records, which are open to the public in most places. What you are looking for is properties that list an owner with an address far away. You could have found us this way, and bought our place for less than we got.
3. Use timing. Just before school starts, people are motivated to get their house sold so they can get their kids enrolled in the new school where they are moving. If an apartment building has been sitting there for sale for the whole winter, the owner may be tired of the bills and ready to get it sold fast.
The bottom line is to use your eyes and ears and look for the clues. Talking to people helps a lot. However you find your motivated sellers, the next step is to motivate them even more, by giving them what they want. Start by negotiating for a fast, easy closing for them – and a good price for you. That, however, is a topic for another article.
Statistics tell us that as many as 80% of all home buyers will start their search for a new home by browsing the Internet. The Internet is often used for browsing new properties, especially when there is distance involved.
While looking at the Internet gives a general feel for areas and prices, for obvious reasons, at some point you will need to involve a real estate agent. Local real estate agents know their areas and know about pending building plans, schools etc. Often on the Internet you can only see the actual property for sale.
Familiarity with the Internet is one of the key requirements to being a skillful real estate agent in today’s market. This skill not only speeds up the property finding, it also means that the computer can do the compilations for you, and you can get the perfect home without getting out of your chair!
One of the questions to ask a real estate agent is how familiar are they on the Internet? Make sure they can contact you by email and that they can turn up the MLS listings for you to look at. Sit with your real estate agent and get the virtual tour on a couple of homes. If you are not so familiar with the Internet yourself, you will soon realize how much time and legwork it can save you.
Often, real estate agents will actually state in their profiles that they are Internet proficient. This could mean that they may know more about market trends and economic indicators in the business world as well as having all the realty facts at their fingertips.
Many real estate agents take time out to attend special courses that upgrade their skills. These courses can cover anything from financial expertise to selling homes to seniors. When selecting a real estate agent ask if he has been on any extra curricula courses.
Check on the number of sales that the office has recorded in the last month or two and ask how many are his. Does he mind if you check on a couple of the ‘sold’ house owners and see how his references check out?
Can you judge his negotiating skills? Does he listen to what you actually ask? Ideally, you want to feel really comfortable with the fact that the real estate agent seems a person that will understand your choices and wishes.
If you want to save time, money and frustration, take the time to find a real estate agent that knows exactly what you want and who knows exactly where to find it on the Internet.
QUESTION If my flat is built in 1987 and my main door faces North, is my flatprosperous ?
ANSWER From the year 1984 to the year 2003 , any house or flat that sits at the south and faces the north and has the main door at north has a very good fengshui house till the year 2003. However the external topography will also playa part to the family’s health and wealth. However, if , the house or flat have also been checked by a Vastu & Feng-shui Master, then this gives them enhanced SUCCESS.
QUESTION Can I have a fish tank in my living room for wealth and success ?
ANSWER No. Fish tank cannot be placed where you like., it is not advisable to
have a fish tank in your living room. Please check with a Qualified Vastu & Fengshui
Master before placing a Fish tank in the house.
QUESTION Can I hang a metal wind chime in the house?
ANSWER It is not advisable to hang metal wind chimes in any sectors of the house as certain sectors can attract spirits to your house when you place them there. Please check with a Qualified Vastu & Feng-shui Master for placement of
QUESTION My office table is opposite the main door is it Good or bad ?
ANSWER The table should never be opposite the door as the energy coming in once the door is opened, will hurt you. Hence it is better to have the door at a corner of your office room if possible. Also the table should not be such that your back is towards the table.
QUESTION I have a RED colour paint in the bed room is it good.?
ANSWER The red co lour is an element of fire and it makes a person very aggressive and bad tempered. Always use light colors in the bedroom.
QUESTION Is it important to check the FENG-SHUI and Vastu of the House before
buying or after buying. ?
ANSWER It is advisable to get the house audited by a Qualified Vastu & Feng-shui Master before buying so that the there is no need for any majour changes to be done later on . But if you already have a house and you are living in it then too its equally important to get it inspect by a Qualified Vastu & Feng-shui Master who will guide you with his knowledge on how to keep the energies in the house proportionally balanced thus providing you with a better quality of life and enhanced success.
QUESTION How can Vastu & feng-shui cure negative energies and promote
ANSWER Vastu and Feng-Shui can definitely cure negative energy and promote happiness. These ancient and valuable sciences aim at generation,
accumulation and flow of Positive energy through correct placement of objects
and balancing your house or shop with the help of various Cures, symbols and
remedies ( crystals , wind-chimes , pictures .. etc ) thus promoting happiness.
QUESTION I need to place an air-condition in my room since the summer season
is approaching , where shall I install it ?
ANSWER An air conditioner is a fire element as it runs on electricity therefore the
best placement is south and south west but it can placed in most good energy
QUESTION Do Vastu and feng-shui really work or is it just a psychological
ANSWER YES . Vastu and Feng-shui is not a farce but a SCIENCE. The rules of Vastu and Fengshui are truth and laid down many thousand years ago. And you will be surprised to know that as per The Ramayana the complete city of Ayodhaya was designed and constructed by MANU a leading architect of that time in full conformity as per the principles of Vastu-Shastra.
Vastu-Shastra also has references in the period of Gautham BUDDHA and also the ROMAN EMPIRE.
QUESTION Are new houses better than older houses?
ANSWER A newer house is always considered better since it has no past occupants. The result is less persistent energy of past occupants. These are just a couple of advantages of the newer house. But there are many older homes that still have good energies, even better than the new homes since most new homes
are not build as per VASTU.
QUESTION What’s the best color to paint for the exterior of a house?
ANSWER Each direction has an element and its corresponding color. If the external color were painted according to the direction of the house and it element then this would prove productive and enhance the overall luck of the house.
QUESTION What is the ideal place for keeping safe/money in the house
ANSWER North is the ideal location to keep money and valuables in the house.
QUESTION How do I get started? – www.realacres.com
ANSWER You can simply register at our site www.realacres.com and provide us with all your details and we will fix up an appointment with our Vastu Fens-shui consultant
Mr AMIT LAMBA who will visit your place and do a complete vastu assessment..
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