(Your Six Figure Cash Machine) – THE TRUTH

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Six Figure Cash Machine / Jennifer Baxter – WORLD Law Direct Forums – 9:51pm
27 Feb 2009 … But you'll get everything you need included in your Six-Figure Cash Machine. Over SIXTY fantastic video tutorials on all the latest, most profitable …
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Your Own Home Business Cash Builder

No doubt about it, the future looks gloomy. It’s easy to stand around ringing our hands and wondering what calamity is going to overtake us next. What will we do if the bank repossesses our house? What if we get a redundancy notice next week? Will we suddenly have a nervous breakdown through all the stress? This was the scenario for me and my husband during the recession the 1990′s. Our house was repossessed, we were unemployed and broke. We were frozen with fear wondering how we could face life in the future? And to top it all Sid, my husband, became very ill and it was a possibility that I might have to face all these problems on my own. But we humans can be very resillient when the need arrives. The only things of value that we owned at the time were a computer and some books. So I sold the books on eBay to make a bit of money to get started again. This was the start of my Home Business Cash Builder - just a few pounds in a biscuit tin. Luckily in time Sid recovered and he started to help me to pack books and post them off to the buyers. This got us started on the road to financial recovery. It wasn’t big bucks but it was better than being broke. However a little bit of success urges you on to bigger things. It is important never to set goals that are too low, otherwise once you achieve them you tend to sit back and not bother anymore. When in truth there could be so much more success just around the corner. Then I added ebooks to my sales projects which was fine, but then I thought, if I want to add bigger profits to my Home Business Cash Builder then why not write my own ebooks. So I wrote a few little ‘how-to’ books and advertised them in local newpapers and on the net. It was easy because there were still setbacks. This is inevitable when you run your own business. But your learn from every mistake and build up a lot of knowledge over the years. I learned a lot from the work of an American couple who had started off small and gone on to make millions of dollars. In fact in the end I based my entire business on what they taught in their course which was called ‘How To Make $10,0000 From Your Kitchen Table. ‘ We all get chances to achieve success, but sometimes they pass by without us even recognising them. Failure is not something to be ashamed of. Try to think of it as something positive that you can learn from. Actually the present financial situation throughout the world offers immense opportunities to those prepared to find certain niches and offer their experience and services to others. If you feel that you don’t know anything that can help you achieve success whiz down to your local library and bury yourself in books and magazines on a chosen subject. Make copious notes, follow up with internet research and before you know it you could become an expert in a chosen field. I know of people who have taken up bird watching, angling, rambling, just so that they can write with some authority on a subject. You can build up your own successful Home Business Cash Builder while many others are still thinking about trying to earn some money. Let’s face it, one of the most negative phrases I know is, ‘I’ll get round to it.’ And you know they never will. Don’t look back five year’s down the road and think ‘if only I’d done this or that.’. Life’s too short, so take positive action now to plan a secure future, working your own Home Business Cash Builder plan.

ij_forde@yahoo.co.uk

A Simple Process to Sell Your Houses Fast in Today’s Troubled Market

So you’ve gotten into the real estate market. You found a motivated seller who was really feeling a financial pinch brought on by the economic crisis. They reached the conclusion that their chances of saving their home was next to zero, so they chose to take the consolation prize: to walk away under their own terms with their pride intact and their credit report in better shape than they expected.

Because of your real estate investing education you were able to purchase their property with a subject to transaction. Knowing the smart money was on purchasing their property through a land trust, now you’re ready for the next step – finding a buyer in today’s market. The chances of quickly flipping the property for a profit are relatively low, so what can you do – short of renting it out and playing landlord?

Let me give you a better option.

What if I told you that instead of simply renting the property out for market rent you could find a tenant who might want to buy the property in the future for much more than it’s worth now, is willing to give you a substantial “down payment”, will pay a premium rental rate, and will agree to pick up most of the maintenance expenses? I don’t need to pinch you; you’re not dreaming.

Instead, I need to explain how you can step into a real estate investing goldmine. I’m referring to the lease option strategy to real estate riches.

The lease option is two agreements, although a lot of novice investors think it’s just one. The first part is a standard rental agreement, while the second part is an option agreement.

The rental agreement lays out the terms of the rental – how much they’ll pay each month for the privilege of living in your house. You’ll also spell out all of your rules, explain their deposit, etc. It’s a simple agreement. Even though you’re a real estate investor who may just be starting down your personal pathway to prosperity, you’ve probably seen one of these agreements even if only as a tenant.

Where this real estate investing strategy becomes a work of art, though, is by incorporating a second agreement into the transaction: the option agreement. Don’t be afraid of the lease option – it’s not scary. You don’t need to spend thousands of dollars on a worthless piece of paper that says “Bachelor’s Degree” to understand lease options; in fact, you’ll spend less time overcomplicating the concept if you don’t have one. Here’s how it works:

l Your tenant-buyer pays you an option consideration fee (generically referred to by some people as a “down payment”). The amount is based on your comfort level – and your tenant-buyer’s ability to pay, but is generally between $2,000-$10,000. This money will be credited back to the tenant-buyer when they finally decide to purchase the property. If for some reason they decide to walk away from the agreement or can’t complete the purchase within the alloted time, they’ll lose this fee.

l In exchange for the option fee, the tenant will have the right to buy the property for the amount that you negotiate before they move in. This price is always more than the property is worth today, which guarantees you a nice profit margin when they exercise their option. They’ll have a fixed amount of time – usually 12-36 months to exercise that option.

l For every on-time rental payment for the term of the agreement, you’ll grant them a rental credit that will also be deducted from their closing costs when they exercise their option.

l Because a lease option is further up the real estate food chain then a simple landlord-tenant relationship, the tenant/buyer will often agree to pay all maintenance expenses less than a certain dollar amount. Anything more than that you’ll pay. What this does is help guarantee they’ll be proactive in letting you know about problems quickly and it gets you out of midnight plunger patrol calls for clogged toilets.

When the tenant buyer decides to pull the trigger and exercise their option they’ll receive credit for the option consideration fee and any rental credits they’ve earned along the way. If you agreed to a purchase price of $175,000 and the tenant gave you an option fee of $10,000 and they were to pay $1,500 per month with a rent credit $500 per month for three years, they would only need to bring $147,000 to the closing table.

The lease option is a tremendous tool for you to use in establishing yourself as a real estate investor, but it gives you another benefit you can’t easily put a price tag on: It gives your tenant the pride of ownership. They have money tied up in their house, so they’re going to be much more willing to pay their rent on time and prevent damage from taking place.

Recent market changes have shaken up the way the lease option works. Knowing this will keep you from making a mistake that could potentially strike a devastating blow to your transaction: lenders have added what are called “seasoning rules” to real estate transactions. All this means is that they’re stating how long they want the house owned by a party before they’ll approve a loan on that property. This is generally 12 months; since most tenant buyers won’t exercise their option within the first 12 months anyway, it’s a moot point. However, since you’ve purchased the property yourself with a subject to transaction and you placed the property in a land trust, you’re covered regardless.

So get your real estate investing career off on the right foot by using the lease option in conjunction with a subject to transaction to quickly shove yourself down the pathway towards prosperity. You’re gaining a valuable education in real estate; take your profits and invest them in your future by buying even more property creatively. The real estate world is your oyster; let your profit potential increase your drive to prosper in 2009!

Sean Flanagan

Real Estate Value – Market Data vs. Income

Trying to estimate the value of a piece of real estate seems to be everyone’s favorite pastime. I’ve discussed this subject in detail in my book, “What Every Real Estate Investor Needs to Know About Cash Flow”; in previous articles, on PBS’s Wealthtrack; in line at the supermarket, and just about everywhere else I’m allowed to talk out loud. Although I thought I had covered the waterfront pretty well on this topic, I continue to be surprised by the number of people who still don’t fully understand that there are several approaches to estimating value, and that it is important to choose the one best suited to the particular property you have in mind.

First, some necessary preliminaries. Any (actually, every) real estate appraiser will tell you that there are three approaches to value: the cost approach, the market data approach, and the income approach. While they will often try to reconcile these approaches when appraising a particular property, in many cases it is clear that one of the three methods stands out as the most appropriate for that property.

The Cost Approach

The cost approach uses the cost of reconstructing the property at today’s prices (land included) and then whittles that number down because of factors such as physical depreciation and functional obsolescence. In my experience it tends to be most useful if the property is squeaky new (i.e., you haven’t yet scraped the labels off the plate glass windows) but tends to become more subjective as the property becomes less than brand new. The adjustments also tend to be pretty subjective, which may be all right if the person making those adjustments does so for a living all day long (for example, a professional appraiser), but are not likely to be so reliable otherwise. Also, you’ll need a solid estimate of the land value, often a difficult task in its own right.

For the typical investor or developer, cost may be useful to confirm valuations made with other approaches but otherwise may be difficult to apply in a way that’s reliable enough to be the basis of an investment decision. So, for the purpose of our discussion, let’s skip this approach and focus instead on the distinction that I find tends to muddle the understanding of value for many novice — and some not so novice — investors. When do you use the market data approach to value and when do you use the income approach? The question may sound academic. It’s not. It’s the difference between recognizing the realistic value of a property or perhaps missing it by a country mile.

The Market Data Approach

The market data approach is based on comparable sales. In other words, you can reasonably expect that a property will sell for something close to the price of similar properties located close to the subject, i.e., comparables located in the same market. You would of course make adjustments for distinguishing features — the presence or absence of certain amenities found in the comparable properties — but it is the market as much if not more than the property itself that drives the value.

When do you use this method to value a property? The poster child for the market approach is the single-family home. When you shop for such a home, you look at the amenities that the house has to offer and you look at how much other houses in the neighborhood have sold for. You might say, “Other four-bedroom colonials in this neighborhood have sold recently between $680,000 and $720,000 and I should base my offer on that information.” It’s unlikely, however, that you would say, “I can probably get $2,000 per month rent for this, so I’ll base my offer on whatever price gives me a positive cash flow.”

You would also take note of the local economy when considering how the value of this property might grow over time. Strong employment for example might increase demand and therefore increase prices. If prices in a neighborhood have recently increased on average by about 5%, chances are good that most individual properties have indeed increased by a similar amount. Likewise, chances are good that future increases or decreases will affect most properties in that neighborhood more or less equally. A rising tide lifts all boats. Again, it’s the dynamics of the market at work here.

The Income Approach

Now consider an altogether different kind of property: an office building or shopping center or fairly large apartment building. You are not going to look for comparable sales of regional shopping malls to decide how much to offer. Income properties are bought and sold strictly for their ability to produce a net income. So long as the property’s main appeal is not for the use or occupancy of the owner, it is in the purest sense an income property. A person who buys a garden apartment complex, an office tower, or a shopping center is probably not looking for a place for his family, his office, or his store to occupy. He is looking for an income stream, a cash flow.

This investor will capitalize the property’s anticipated Net Operating Income to arrive at an estimate of value.

Some Examples

It should be clear enough that you would use the market data approach when buying a home and the income approach when buying a shopping center or office building. It’s the gray areas that are tricky and can trip you up. Let me describe some typical situations that we hear most often:

You buy a single-family house for investment as a rental property. Unless the neighborhood is made up entirely of pure rental properties, you do not want to base your estimate of the property’s value on its rental income. If the other houses in the neighborhood are being bought and sold as personal residences, then prices will be driven by comparable sales, not by potential rental income. In other words, when you buy this property you will pay a price based on the market for homes in the area; and when you sell it you can expect a price driven by that same market.

Even though the price at which you buy and the price at which you sell will not be a function of the property’s rental income, it is still critically important to perform cash flow and resale. The house may not be an income property in the purest sense, but that is how you’re using it. You’re buying an income stream and you need to estimate what you can expect as yearly cash flows and how much you’ll derive from the final cash flow: the proceeds of sale. That’s what investment analysis is all about.

You buy a multi-family house for investment as a rental property. This one is trickier yet. You need to ask yourself, “Who is the most likely buyer of this property? — an owner/occupant or an absentee-owner/investor?” One neighborhood might be characterized by a preponderance of 3- to 6-unit multi-family, larger apartment buildings and small commercial properties. The most likely buyer here would probably be an investor; hence the income approach would be best for estimating value.

Another neighborhood might contain a good number of single-family homes along with duplexes (many of them owner-occupied) and some triplexes. The buyer of a multi-family here is probably going to be an owner/occupant, someone who is buying a home that has rental income as one of its amenities. The value of this property will probably be driven by comparable sales, not by the potential rent income.

You buy a small commercial property. Commercial is commercial, right? That means investment, which means the rent income determines its value. Usually, but not always. This situation is analogous to the owner-occupied multi-family. Consider a small professional office or a small, freestanding retail building. The prime prospect for the office might be a doctor or lawyer, using the space for his or her practice. The retail building might be attractive to a local storeowner. Once again, if the appeal is to an owner/occupant rather than an absentee investor, it is less likely that the value will be determined by the rent potential and more likely that it will be a function of the local market for similar properties.

Conclusion

As I said at the outset, understanding when one approach to value might be more appropriate than another is not just an academic exercise. So often we hear people talk about how they expect the value of their income property investments to rise because “real estate (i.e., their home) is going up.” As Gershwin could tell you, it ain’t necessarily so. An example I’ve used before (but I’m allowed to repeat myself) is that of a rapidly growing community where local developers feel inspired to build office space — so much space that office rents and office building values decline even while home prices rise.

Similarly, we find folks who are surprised that a duplex or triplex will sell at a price much too high for an investor to achieve a positive cash flow, not realizing that the property is selling as a home that incidentally has rental income and not as a strictly commercial income property.

Estimating the value of a piece of real estate will probably always remain part art and part science. Matching the right methodology to a particular property is an essential first step for anyone trying to make real-world investment decisions he can live with.

Frank Gallinelli
http://www.articlesbase.com/advertising-articles/real-estate-value-market-data-vs-income-52693.html

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