Real Estate: Becoming A Broker
Author: Thomas Kinsey Schneider, Ph.D.
Source: articleage.com
Why Real Estate?
Real estate is security, a source of wealth and a path to
prosperity. Real estate is the Great West, where new-age cowboys
roam million-acre ranches on horses and Humvees, against a
backdrop of majestic snowcapped mountains. It is a 50-story
luxury condo in downtown Manhattan where millionaire bankers
relax with a paper and some fresh fruit on a balcony overlooking
Central Park. It is a modest one bedroom one bath house on the
wrong side of the tracks. It is a palatial 6 bedroom, 7 bath
stone French Tudor, with wine cellar, nestled into a private
cove on an exclusive lake in Texas within a private gated
community. It is a piece of the pie. It is your home, your
neighborhood, your piece of mind, your investment portfolio.
Real estate is all that and more.
Anybody can get rich in real estate. Yes, you have to be
motivated and dedicated to your goal. But you don't have to be
an investment banker, or a university professor or a hot-shot
dot.com executive. If you have the desire to change your life,
and are committed to becoming one of the rich instead of the
want-to-be-rich, you can! That's because real estate is a great
path to great wealth. But be clear, real estate is not a
get-rich-quick scheme. You need to learn the most important
basic principals of real estate, and then prudently put them to
practice in the real world. We show you how at
www.realpropertymillionaire.com. If you are ready to learn, we
are ready to teach you!
Becoming A Broker
If real estate wealth is your goal, you might consider getting
your real estate license, or even your broker's license.
Most real estate transactions in this country include the
services of real estate agents. The agents serve a valuable
purpose during the course of the transaction by providing
expertise in several areas:
1) Market analysis 2) Sales price negotiations 3) Document
preparation and execution 4) Liaison between the buyer and
seller 5) Facilitator of ancillary services such as title and
escrow
In a real estate transaction not involving an agent, the buyer
and the seller must be responsible for all of the duties that an
agent might normally perform. In some cases this can create
problems that could result in a failed transaction or worse,
including legal problems after the deal has closed.
Serious real estate investors would therefore be wise to take a
close look at the advantages of obtaining a real estate broker's
license. Obtaining broker's license is not as difficult as you
might imagine. Each state will have its own set of rules and
regulations, but the process is more similar than different
across states. After all, real estate is real estate no matter
where it is found.
The benefits that can be derived from having a real estate
broker's license can be grouped into four categories.
Commissions
Commission dollars can be used as additional capital. Typical
real estate commissions to the buyer's or seller's agent will
range from 2% to 3%. With a sales price of $500,000, this would
equate to $10,000 to $15,000 additional capital that the
investor would have at his disposal. This could make the
difference of success or failure in a PONOMO property. Of
course, this amount can be much more significant with higher
priced properties.
Multiple Listing Services
Investment properties can be found more readily. An investor
with a real estate broker's license would have at their disposal
easy access to the multiple listing services (MLS). Having the
MLS at your fingertips is a distinct advantage to the savvy
investor for several reasons. First, such access allows the
investor to locate properties easily and quickly, in some cases
the moment they become available. Second, in many cases the MLS
will contain remarks generally unavailable to the public. These
remarks can provide insight in to the seller's motivation or
other pertinent aspects of the property. Additionally, data from
the MLS allows for a thorough market analysis of the property.
Control
The investor can gain more control over the transaction. Without
having to rely on the services of a third party, the licensed
real estate investor will be able to exercise more control over
the entire transaction. There will be no reliance on anyone else
to search for properties, execute documents, or generally guide
the transaction. The licensed investor can operate at a pace
that is suited to his particular need.
Exit Strategy
Investment properties can be listed for sale under the control
of the investor. When the time comes for the licensed investor
to dispose of a property, he would not need to rely on another
person to list a property on the MLS. That gives the investor
greater control of the property description, timing of the
listing, and conditions under which the property will be shown.
The vast majority of properties are sold through the MLS, and
there are clear advantages of having control over that process.
Of course, just as with a purchase, there would be a tremendous
commission savings as well.
Broker versus Salesperson
The real estate world makes a distinction between a real estate
broker's license and a real estate salesperson license.
Typically, a real estate broker may exercise autonomy throughout
a transaction, while a salesperson must be under the supervision
of a broker. A real estate broker's license will offer confer
upon an investor the benefits as described above. A real estate
salesperson would have some of the same advantages, but he would
not be able to exercise as much control over the transaction,
and would have to give up a portion of the commission to the
supervising broker.
In most states, a real estate salesperson license can be
obtained after completing a short state-approved course and
passing a written state-administered examination. A real estate
broker's license will involve additional course work and a more
comprehensive written examination compared to a salesperson
license. Some states will also have some type of college
education requirement or work experience to obtain a broker's
license.
The best approach to investigating how to obtain a real estate
broker or salesperson license is to use an Internet search for
the Department of Real Estate in whichever state you are
located. The effort in obtaining such a license will be rewarded
with the very first transaction in which you earn a commission.
To learn how to generate wealth through real estate, go to
www.realpropertymillionaire.com
ANDREW B. ZEZAS, PRESIDENT OF REAL ESTATE STRATEGIES CORPORATION ACHIEVES SIOR DESIGNATION FROM THE SOCIETY OF INDUSTRIAL AND OFFICE REALTORS
Author: Anonymousbr
Source: free-articlesbr
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FOR IMMEDIATE RELEASE
Date: October 16, 2003
CONTACT:
Maria La Freniere
(908) 245-5999 x 10
maria.lafreniere@realstrat.com
ANDREW B. ZEZAS, PRESIDENT OF REAL ESTATE STRATEGIES CORPORATION ACHIEVES SIOR DESIGNATION FROM THE SOCIETY OF INDUSTRIAL AND OFFICE REALTORS??
October 16, 2003, Kenilworth, NJ: Andrew B. Zezas, a twenty year New Jersey business and commercial real estate veteran, and President of Real Estate Strategies Corporation, has achieved the SIOR designation (Specialist, Industrial and Office Real Estate), one of the highest such achievements in the commercial real estate industry, awarded by the Society of Industrial and Office REALTORS??, an international association of professional commercial real estate brokers and advisors.
To achieve the SIOR designation, Andrew B. Zezas, SIOR completed at least five years of creditable experience in the highly specialized field of corporate real estate; and demonstrated to the Society, professional ability, competency, ethical conduct, and personal integrity.
Individuals who hold the SIOR designation, working throughout the U.S., Canada, Mexico, and overseas, are highly regarded in the commercial real estate as experts in their field, representing more than 800 commercial real estate offices in 450 cities. The Society enforces a strict code of ethics and requires designees to complete its ethics course within their first three years of membership.
Last year, SIOR designees closed more than 68,000 buying, selling, or leasing transactions involving 2.4 billion square feet of commercial real estate. These transactions totaled $51.7 billion, or an average of $25.7 million per member.
After four years as a real estate advisor at Cross Brown Company of New Jersey, Andrew Zezas, SIOR was employed by the New Jersey office of Insignia/ESG, Inc. for fourteen years from 1988. He resigned as that companys senior managing director to found Real Estate Strategies Corporation in January of 2002. Mr. Zezas impressive record of accomplishments throughout his tenure includes being named co-recipient of the first ever Creative Deal of the Year Award from the New Jersey chapter of NAIOP. Gale Wentworth also named Andrew Broker of the Year in 2000 and 2001. The Sammis Company earlier named him one of the Top Ten Brokers of the Year. In addition, Mr. Zezas has received numerous awards for excellence in customer service and outstanding achievement.
Mr. Zezas, a recognized public speaker on business and commercial real estate topics, has been quoted in a variety of publications, including Business News New Jersey, Commercial Property News, Development Magazine, The New York Times, New Jersey Tech News, The Star-Ledger, Office and Industrial Properties Magazine, Real Estate Forum, Real Estate Weekly, Real Estate New Jersey, and The Tri-State Real Estate Journal, and has lectured on real estate topics to the American Management Association, the US Postal Service, and other recognized organizations.
Mr. Zezas is publisher of Business, Profits and Strategy, an online monthly business publication read by over 12,000 corporate and entrepreneurial executives.
Real Estate Strategies Corporation provides creative real estate solutions and profit-enhancing, intelligent business services to public and private corporations and not-for-profit organizations that require a dynamic, flexible and project specific approach to resolving their real estate issues quickly and professionally.
To learn more about Real Estate Strategies Corporation, logon to: www.realstrat.com or call (908) 245-5999.br
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Real Estate Business Opportunities
Author: Randy Wilsonbr
Source: articleage.combr
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Ask anyone with a financial degree what area of investment is
consistently fair and most of them will tell you Real Estate.
The Real Estate Market is full of Business Opportunities for
people like you. Most people, however, are unaware of the
burgeoning market of the Business Opportunity in Real Estate.
There is the obvious licensed real estate agent. If you are
already licensed and not investigating the Online Opportunities
available, you are lagging behind the field. Online Real Estate
is a burgeoning field and likely to expand over the next decade.
People who look for Online Real Estate Agents are looking for a
sale. Even in this telecommuting age, people relocate all the
time and are in need of local Real Estate Agents in the area to
which they are going. Most people facing relocation will do some
advanced research and you could be the one they find.
Of course you will have to be an established Real Estate Agent
and be able to present yourself effectively online. There are
many web sites that have free listings for agents by area and
are top of this list for Real Estate keyword searches.
Registering with one of these sites would help draw clientele to
you.
There is also the buy and sell Real Estate Business
Opportunities. Many private citizens, not licensed real estate
agents are moving into the real estate venture by buying and
then reselling real estate properties. Buying a distressed
property, doing the necessary repairs or rebuilds and then
reselling the property privately is becoming ever popular. With
this particular type of Investment Real Estate, you will have to
be mindful of tax implications and have a basic knowledge of
contracts and financing. Having buyers with pre-approved
financing will be helpful to you as well. Be careful and read
the entire local and state laws regarding buy owner situations
so you dont get stuck with a bad deal.
Commercial Real Estate Business Opportunities require a little
market research. If you are near a growing area or a
metropolitan area, Commercial Real Estate may be even more
profitable than personal property. Again, you will have to
research the tax and financial end of these kinds of
transactions. No one wants a surprise at tax time.
Rental Property is another way of How to Start a Real Estate
Business. This type of investment will require either the help
of a property manager or your personal attention more than any
other real estate deal. Someone will need to be available to
manage the property, collect rent and see to repairs. Depending
on the type of Rental Property you are interested in, commercial
or personal will depend on your investment and personal
requirements.
Your research before going into this type of investment should
include what transactions would require you to have a license,
what the market is like in the area you are looking at, and tax
requirements. Any Real Estate that is not kept for personal use
is considered business or investment real estate and will be
subject to tax on any profit you have acquired. Keep close track
of your expenses, as they will increase the total basis you have
invested. You may want to purchase a Real Estate Business Plan
before Starting this Real Estate Business.
Real Estate Business Opportunities are flexible and highly
profitable. There are many fields in Real Estate, including
time-shares, rentals, sales, re-sales, and even Vacation Homes.
Finding the right opportunity for you, either as a licensed Real
Estate Agent or a Private Reseller, should be easy. Remember
that Real Estate, unlike most ventures, may require some up
front capital. Be aware and be prepared for a Profitable Real
Estate Business Opportunity.br
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Virtual Real Estate
Author: Karen Kelleybr
Source: articleage.combr
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Virtual Real Estate--just what am I talking about here? If I
look up virtual in the dictionary, it gives me words like
near, practical, fundamental, or essential. It also lists actual
as an antonym. Remember in school how we were required to use
the new word in a sentence to show that we understood the
meaning? So many times we have heard sayings like, Oh, thats a
virtual impossibility, Virtual Reality, or She is virtually
unstoppable. As you can see in these phases, virtual is being
used as an adjective or an adverb. Here we are using it as a
descriptive meaning practically, fundamentally, or essentially.
The word virtual can also be used as a noun as in this example:
virtual focus. Here, the meaning of virtual focus is a point
from which rays of light seem to emanate but do not actually do
so (such as in the image in a plane mirror.) Now we are going
back to another word we learned in grade school, antonym.
Antonym mean opposite. The thesaurus tells us that actual is
the antonym of virtual. To look at this closer, consider actual
real estate compared to virtual real estate. You can go out
and see, touch, and feel actual real estate. Virtual real estate
requires that you use a computer to see it. Virtual real
estate has no physical borders. Anyone (with a computer) from
anywhere can visit the virtual real estate site anytime. When
you create a web site, you are creating virtual real estate. It
can be just as valuable as actual real estate. In fact, a
profitable web site can be more valuable than you ever imagined.
Another advantage of virtual real estate is that almost anyone
can afford it. In fact it is so inexpensive to create a virtual
real estate site that many entrepreneurs have several of them.
Each site can promote a different product, value, or information
because what appeals to one person may not appeal to another.
When you want to purchase actual real estate, a real estate
agent helps locate the type of property desired. However, with
virtual real estate, you only need to find the training on how
to develop a web site (lots of courses out there) and then the
product you will promote. Cant you see it now, new classes
creeping up: Virtual Real Estate Agents or Virtual Real Estate
Development?
Good luck in this new virtual reality,
Karen Kelley
This and many more topics on the creation of profitable web site
techniques are taught at: http://www.InternetProfitMentor.com.
Also included is a FREE 12 hour video course.br
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ADVANCED ACCESS Announces Agreement With Real Estate Business Resources, Inc. (REBR)
Author: Anonymousbr
Source: free-articlesbr
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(Anaheim, CA ?? Sept. 9, 2003) ?? ADVANCED ACCESS and the Real Estate Business Resource, Inc., (REBR), a wholly-owned subsidiary of the Kansas Association of REALTORS?? (KAR), today announced an agreement that establishes ADVANCED ACCESS as the preferred provider of Website services including its popular Classic Package??? Website and its IntelliC@rds Internet marketing program to over 8,000 members of KAR.
ADVANCED ACCESS is an industry leader in Web design, hosting and Internet marketing for real estate professionals, and currently serves over 20,000 clients nationwide including real estate salespeople, brokerages, MLS associations, and mortgage brokers.
REBR was formed in January 2000, and provides a focused edge for KAR to be a player in the new real estate industry. REBR provides an identifiable, credible and branded partner for real estate professionals to interact with, and also provides them valuable resources to meet todays new challenges in the industry and changing marketplace. Simply stated, REBR is about identifying and providing solutions that address the challenges faced by todays real estate community that are cost-effective, easily employed and empower the professional.
???We are very excited about working with a quality partner such as ADVANCED ACCESS. We chose ADVANCED ACCESS after performing extensive market research for Website services for our customers. ADVANCED ACCESS brings the perfect combination of cutting edge professional tools that deliver leads to real estate professionals,?? stated Karen France, Vice President of Broker Services for REBR.
???This marks quite a milestone for ADVANCED ACCESS, and this agreement with Real Estate Business Resources, provides us with a wonderful and exciting opportunity to form a partnership with a group of REALTORS?? who truly understand the importance of providing innovative business solutions to its members,?? stated Kristina Morrison, CEO of ADVANCED ACCESS. Morrison continued, ??????we are pleased to be chosen for this program, and we look forward to a long and mutually prosperous relationships with this group of real estate professionals.??
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ADVANCED ACCESS Announces Partnership With REBR
ABOUT Real Estate Business Resources, Inc. (REBR)
Real Estate Business Resources, Inc. (REBR) is a wholly owned subsidiary of the Kansas Association of REALTORS??. REBR provides a focused edge for the Association to be a player in the new real estate industry. REBR provides an identifiable, credible and branded partner for real estate professionals to interact with as they navigate the REALTOR?? road ahead.
When the Kansas Association of REALTORS?? Board of Directors created REBR, a new door opened for the Association and the real estate community it serves. In the wake of internal and external forces that influence and change marketplace traditions, consumer expectations and ongoing profitability, the vision for a business-centric entity focused on customized and specialized industry applications became a reality.
ABOUT Kansas Association of Realtors?? (KAR)
The Kansas Association of Realtors?? has been the voice of Kansas real estate for the past 82-years, and provides programs, services, continuing education, research and legislative representation to its members of approximately 8,000 real estate professionals.
ABOUT ADVANCED ACCESS
ADVANCED ACCESS is an industry leader in Web site development; Web hosting, email marketing and Internet marketing for real estate professionals. Serving the real estate industry since 1985, the firm currently works with more than 20,000 clients nationwide including real estate salespeople, brokerages, MLS associations, and mortgage brokers. The company is well known for its popular Classic Package??? Website, a comprehensive resource with more than 900 pages of information for the consumer. Another unique feature is its IntelliC@rds??? program, a powerful and systematic email marketing program with professionally written messages including high impact graphics and state-of-the-art designs. An innovative, constantly evolving product line and a solid commitment to customer satisfaction sets ADVANCED ACCESS apart from its competition.
Family owned and operated and internally funded, ADVANCED ACCESS is a profitable organization with rapid and steady growth over the past five years. Headquartered in Anaheim, California, ADVANCED ACCESS is located at 8101 E. Kaiser Boulevard, Suite #300. The firm occupies the top floor of a commercial building with approximately 140 employees servicing over 20,000 clients nationwide, and can be reached by calling (714) 685-5120 (Toll-Free at 1-888-902-4653) or by visiting their Web site at www.advancedaccess.com
-ADVANCED ACCESS-br
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The Importance of Branding a Real Estate Business
Author: Kandra Hamricbr
Source: articleage.combr
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The importance of branding cannot be underestimated in any line of business. Add to that fact the fiercely competitive nature of the Real Estate industry and it becomes obvious that establishing a brand is vital in the endless push to stay ahead of your competitors.
Real Estate businesses can easily fall behind their competitors if the agents fail to see that the business is more than a just a job. A professional attitude is required across the board, and this can be encompassed in Real Estate just as in other businesses through branding.
Were not talking about fancy names and swish logos here by the way. Branding is proven to have immense benefits for a vast variety of businesses and organizations, including those in the Real Estate industry.
Branding as a concept is a simple one: establishing a positive image for your business in order to distinguish you from your competitors. When a person thinks of cola, we usually think of Coca-Cola; this type of brand recognition has been around for years in other industries.
So for a Real Estate business, a positive image of being able to sell properties and give outstanding customer service are just two aspects of developing a brand. You should consider your strengths and targets, as well as previous successes and build on these when developing your businesss image.
Typically, a brand would include the Real Estate business name, logo and perhaps an image or symbol. This brand would encompass the values and aims of the business in the minds of both the employees, competitors and ultimately the customers. Once the brand is established, you should look at coordinating and maintaining it via the traditional means such as advertising, business cards, as well as email signatures and a web presence.
Branding has many benefits, ranging from lower marketing costs and the ability to attract and keep better customers and employees to excellent customer benefits like reducing uncertainty and risk, simplifying their choice and saving time. As the task of choosing a Real Estate company is usually a difficult one, these benefits are obviously worth the time and effort required in revising your business image as a new brand.
For instance, imagine the impact of being the first choice Real Estate Company in your area! Not only are you at the top of peoples list, you are also attracting customer loyalty which is an increasingly valuable commodity. With loyalty comes word-of-mouth publicity.
Remember; in creating a brand for your business you have the opportunity to develop your Real Estate job into a Real Estate business with a whole new set of values and exciting prospects!
? 2005, Hamric Enterprisebr
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An Introduction to Real Estate Investing
Author: Adem Hamidovicbr
Source: articleage.combr
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There are a great many books and web sites devoted to real
estate investing out there, but most of them concentrate on one
specific area of investing. Its often hard to find a general
description of real estate investing, one that lists the various
real estate investing strategies and how to get started. Thats
what this article will set out to do.
Before beginning, you must understand that real estate investing
is not a get rich quick scheme. Real estate investing can, and
will, make you wealthy, but it certainly wont happen overnight
and it will require work. As you perfect your technique and gain
experience, the amount of work needed to gain a lot of money
will reduce, but it will take effort and persistance to make it
there.
If youre completely new to real estate investing then the only
sort of investing strategy youre likely aware of is rental
properties. Landlording has been around since there have been
houses and people to rent them to, and it will continue to be a
wealth builder. In fact, most of the no money down real estate
strategies you hear about still include rentals as part of their
plan. Still, there are other ways to make money from real estate
investing out there.
The next most traditional method is to buy a fixer-upper, fix
it up, and then sell it for a profit. This is commonly referred
to as rehabbing and is a very good way to make a lot of money
in a relatively short period of time. Most rehabbers wont even
look at a property unless they can make at least $20,000 of
profit, and this is usually within 3-4 months time. Rehabbers
tend to be experienced investors with available money, or have
partners who help provide any extra cash required.
But if youre just starting out you likely wont have access to
large amounts of money. One way to get involved in this area of
real estate investing without needing any money at all is to
flip houses to these rehabbers. What this entails is you going
out and finding these fixer-uppers, noting all the work required
to fix the place up. You then place a low offer in to the owner,
taking into account the fix up price and some built in profit.
Once you have the house under contract you then flip it to a
rehabber for a small fee. This can result in several thousand
dollars for you, without you having to spend a dime. Flipping
properties can be a great way to start your real estate
investing career.
Another no money down technique thats popular on the late
night infomercials is called lease optioning. This is
basically a rent to own strategy that allows you to control a
property without ever taking ownership of it. Its a slightly
more complicated strategy that warrents its own article, but it
does allow you to make money in several different ways, each
without ever having to spend any of your own money. If youre
not put off by longer term investments then lease options are
definately worth more research.
There are other strategies that involve foreclosures and getting
the home owner to sign the deed over to you, but for now Id
suggest learning more about flipping and lease options as
entry-level real estate investing strategies.
How do you find properties that would make good real estate
investments? Again, an entire article can be devoted to that,
but there are basically two ways: you go looking for them, or
you get them to come to you. The first way involves reading the
newspaper classifieds and scanning the Multiple Listing Service
(MLS). This is where having a great real estate agent is a must
- they can get you more details on homes than you can view on
the mls website, and can often let you know of great deals
before they even become available to the general public.
Having home owners contact you means setting up an advertising
campaign. This can involve placing ads in the newspaper, placing
bandit signs at strategic locations around town, starting a
direct mail campaign, etc. There are many ways to let people
know that theres a new real estate investor in town, and it
would be in your best interest to try each of them to see which
ones work best for you.
Whether you decide to go looking for deals, have them come to
you, or both, they key is to be persistant. Real estate
investing is a numbers game - most of the time you wont be able
to make the deal work, but every time you do it translates into
thousands of dollars for you. The more owners you talk to, the
more deals youll be able to do, the more money youll make.
I hope this article gives you a bit of an idea of what the world
of real estate investing is like. Theres a lot to learn out
there, and all of it is very interesting. Find the area that
interests you the most, then get out there and start talking to
home owners. Dont be discouraged if youre getting turned down
a lot - just remember that when it does pay off, it will pay off
big!br
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Armchair Millionaire Community Bulletin: Real Estate Investing On the Rise.
Author: Anonymous
Source: free-articles
While making money in real estate is easy if you believe the late-night TV hucksters touting instant profits with no money down, the reality is quite different. Yes, it certainly is very possible to get better returns in real estate than in the stock market. But it requires a lot more work and a bit of luck.
When we recently asked members of the Armchair Millionaire community about investing in real estate, we heard about some good and not so good experiences:
"I first opted to try investing in real estate several years ago when moving out of state for new employment. Instead of selling my house, I contracted with a local property management company to rent it out and take care of it for me. This was one of the best moves I've ever made. This property has not only appreciated to near double what I owe on it, it also generates some monthly passive income. Since then, I have acquired other properties and am using the income they generate to purchase more." --Kevin
"My parents invested in a commercial real estate deal to build student apartments in a small town a few miles from a state university, but they lost money on it. It did sound like a project with good potential, but the person in charge went bankrupt during the building phase and all the investors lost their money."
--Simplicity Key
When considering the pros and cons of investing in real estate versus the stock market, consider these fundamental differences between the two:
When you invest in stocks, especially if you do so through an index fund, you can build a hugely diversified portfolio of stocks from around the country and the world. But when you invest directly in real estate, you're usually restricting yourself to one property (or type of property) in one geographic location. This leaves you vulnerable to shifts in that market.
On the upside, real estate prices in general over the years have tended to be much more stable when contrasted with the volatility of the stock market.
If you're determined to dabble in real estate, our checklist will get you started in the right direction.
The Armchair Millionaire Checklist for Investing in Real Estate
Understand what it takes. You'll have to devote a nice chunk of your time to your new enterprise. Also, be advised that you could expose yourself to financial and legal difficulties, and may have to deal with tenant and maintenance issues--all with no guarantee of a profit. If you don't have the right temperament for all this, stick with stocks.
Choose your specialty. Your could buy property with the intention of selling and turning a quick profit within days, or purchase a property, rent it out, and then wait years for it to increase in value. You might invest in single family homes, apartment buildings or commercial property. You could focus on run-down neighborhoods or glitzy shopping malls. Each of these is a very different game, so understand the advantages and disadvantages of each and then pick one to excel in.
Start slow. Don't take on too much too soon. Deal with one property and then, if it works out, go on to another. The learning curve is steep, so don't over commit your money while you're learning the ins and outs.
Get professional help. Positively have an attorney and CPA on your side, preferably ones who specialize in real estate transactions.
Consider REITs: Real Estate Investment Trusts (REITs) invest in publicly traded real estate companies but you buy and sell them like a mutual fund. With REITs you get diversification into real estate without the headaches of being a landlord.
THE BOTTOM LINE: As with all investments, when you're looking for higher returns in real estate you'll have to take on higher risks. Before you make the leap, closely scrutinize whether it's the best course for you, and then create a clear strategy for making it work.
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Armchair Millionaire Web site was founded in 1997. The company's first book, The Armchair Millionaire, was published in 2001. Today, www.ArmchairMillionaire.com is a fast-growing community of common sense savers and investors.
Get "Ask the Armchair Millionaire's Weekly Syndicated Column: http://www.armchairmillionaire.com/weeklycolumn
Real Estate Marketing: Why Image Advertising on the Internet (or Anywhere Else) Stinks.
Author: Jason Leister
Source: articleage.com
So what is "image advertising?"
Have you ever seen a commercial on TV for a hotel chain where the commercial is
nothing but a beach scene filled with sounds of crashing waves? That's what you
see for the first 20 seconds. Then at the end, the name of the hotel chain fades in
the lower right hand corner of your screen before the commercial ends.
That's image advertising. It's what Madison avenue agencies are paid big bucks to
create.
In the real estate marketing world, image advertising takes on a slightly different
form.
Have you ever seen an ad like this? Here's the content:
Mr. Joe Realtor, Your Choice for ALL Your Real Estate Needs
Somewhere in the ad is a picture of Mr. Joe Realtor and then his company logo and
contact information.
That's it. That's the ad.
What's the problem with it?
It's expensive.
It's boring (one of the worst marketing sins you can make).
It makes you look just like everyone else.
It totally ignores your market (by not talking about them).
It doesn't work (by work I mean generate a ton of leads).
This type of real estate marketing rarely offers something unique, rarely mentions a
benefit, is virtually untrackable, and is usually completely centered on the greatness
of the advertiser and not on solving the problems of the advertiser's prospect.
The good part for you is that the vast majority of real estate professionals out there
are throwing money hand-over-fist at this type of stuff... and then explaining away
the lack of results by saying that advertising doesn't work.
It's happening on the internet and it's happening all over print advertising.
What's the alternative?
Fuel your real estate marketing with
direct response advertising.
It works offline and it works really well online.
For advertising to be considered "direct response," a couple things have to be true:
there must be an offer
there must be a reason to respond immediately
the ad must be trackable (by using a code or special phone number or website
address)
the only thing that matters is results
In direct response advertising, the buzzword "branding" is a not a goal. A RESPONSE
is the goal.
By being able to track every ad you produce, you can make sure that your
advertising is profitable. After all, it is supposed to make you money.
Here's how it should work:
For every $1 dollar you send out in ads you should get some multiple of that back
as sales.
One of the best examples of direct response advertising is all of the "junk" mail you
throw out everyday.
Have you ever wondered why companies pay so much money to send you all of this
mail? The glossy envelopes... the "Respond by July 27 to get your free prize."
envelope teasers...
They send it because it works. It makes them money.
It may not be too flashy - there probably won't be any cute taglines on it and some
real estate professionals might even call it "unprofessional."
But one of the main points in being a successful marketer on the internet (and
beyond) is realizing that YOUR vote about the ad doesn't count.
Results are all that matter. And your prospect is the only one that determines those
results.
In a nutshell, direct response advertising is akin to putting the sales pitch you would
deliver to a prospect face-to-face, on paper or on your website. It's called
salesmanship in print and if it helps you sell more real estate or get more listings,
do you really care what others think?
You can use direct response advertising everywhere online: on your website, in
Google Adwords, in your email campaigns, your autoresponders... everywhere.
So take some time to start opening your junk mail... It's a free education coming
right to your door and it will help your real estate marketing online and offline.
Jason Leister, the Real Estate Technology Guru (tm), is owner of Computer Super
Guy, LLC, a Chicago-based technology firm that helps real estate professionals
profit with technology.
Visit the
Real Estate Technology Guru
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