Sal Vannutini
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Why You Shouldn’t Do All The Renovation Work Yourself
One of the biggest mistakes many real estate investors make is performing all of the renovation work on a fixer upper themselves; mistakenly believing it will save them money in the end. This line of thinking, however; can result in a number of problems; most of which will actually cost you money rather than save you money. Unless you are a professional renovator, and an expert in every area of renovation; chances are the work you perform isn’t going to be up to code. That’s no slight intended toward anyone, but there is a reason that most individuals employed in…
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How to Use Lease Options and Fixer Uppers
If you don’t have a large chunk of cash to make a down payment,especially if this is your first investment property, a least option can help you get into the game very quickly. The way a lease option works is that you negotiate with owner for the right to rent the property with the option to buy it at a future date for a specified price.If you choose not to purchase the property, for whatever reason, you’re not obligated to do so. According to the terms of the lease, however; the owner will be obliged and required to sell you…
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How to Find Motivated Sellers
Finding a motivated seller is extremely important when you’re looking at purchasing real estate for investment purposes. In order to increase your profit margin, it is critical that you locate and purchase properties with the lowest sales price possible. Unless they have a good reason and are extremely motivated, however; many home owners will sit on a property and wait for what they think is the right price-sometimes that’s years! Homeowners who have filed for bankruptcy or in the process of having their home foreclosed on by the bank can be very motivated to sell their property at a reduced…
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How to Create a Simple Real Estate Business Plan
Becoming a full time property rehabber is actually very easy, So why do so many investors get it wrong, or even worse, do nothing? Simple: No Business Plan! Make no mistake about it: This is a business! If you invest time and capital with the aim of making a profit, then you are in business, regardless of whether you purchase one or fifty homes. Before you commit a single dollar or a minute of your time, you should step back and have a good think about what it is that you want to achieve.When developing your business plan, you may…
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Fixer-Uppers: A Smarter Way to Invest in Real Estate
Statistics show that nearly 95% of our fellow citizens will retire at or below the poverty line by the age of 65. These people will be dependant on friends, family and the Federal Government for financial support. If ours is the land of opportunity, why does this startling reality exist? The answer can be traced back to our upbringing. From our early years we are taught that the correct path in life is to go to school, get good grades, and get a “secure” j.o.b (Just Over Broke) with benefits. Sound familiar?And let’s face it folks, you won’t ever get…
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8 Biggest Rehabbing Mistakes (Part 2)
The first 5 mistakes were covered in Part I. In the second part of The 8 Biggest Rehabbing Mistakes we look at three more areas that can swallow up your profits in no time.Big Mistake #6: You Pay Too Much When You BuyYou make your profit when you buy. Pure and simple! I will always tell my coaching clients at my workshops that this is the most valuable advice that they will ever receive from me. The added value from the renovation is the icing on the cake. Always research your market well and ensure that the potential selling price…
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8 Biggest Rehabbing Mistakes (Part 1)
Buying old houses at wholesale price, fixing them up, and then selling them at retail price remains one of the easiest ways to make big profits in real estate. If you are prepared to put in some hard work, property rehabbing remains one of the easiest ways to profit from real estate.Unfortunately, would be rehabbers can be easily seduced by the promise of fast money. You see it’s not simply a case of buying an old house, fixing it and selling it for massive profits. Back in the mid 1990’s when I started to fix-up my first investment home, I…
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10 Tips for Adding Curb Appeal
First impressions are just as important in real estate as anything other aspect of life; if not more important. Many prospective homebuyers will size up a property within just a few seconds of viewing it! That doesn’t even get them in the door.What this means to real estate investors is the importance of adding curb appeal. Sprucing up the exterior of the property to give it that much desired special touch doesn’t have to be expensive or a lot of hard work-it does mean that you need to know what buyers are looking for when they first see a property.…
