Real Estate Investment – Top Strategies Real Estate Investors Use to Turbocharge Their Businesses

Have you ever wondered why some real estate investors seem to make it all look so easy? We have all heard the stories about how one investor made over $100,000 in a week by flipping a house. Or maybe about how another one bought a multimillion dollar apartment complex and walked away with cash at closing.

So how do these people do it? And is it something the average person off the street can learn to do? Well, those are some of the same questions I had when I first started in the business. So I spent months of research and tens of thousands of dollars to learn what strategies these successful people use that the rest of us do not. What follows is a brief summary of what I learned. Some may surprise you, others may not. However, I found these to be common words of wisdom from every successful investor.

1. Real Estate Investing is a Business, Not a Hobby

Every successful real estate investor I know operates their endeavors strictly as a business, even if it’s just a part-time thing. This means setting up a Corporation, S-Corp, Limited Liability Company, Limited Partnership, General Partnership, or typically some combination of these entities. Notice I didn’t mention Sole-proprietor? Talk to a knowledgeable real estate attorney in you area for a better idea of which ones are right for you and your goals. Not only will the right entities protect you and your ASSets, but will allow you to take advantage of certain tax advantages you would otherwise not have. If you stop reading here and take no other advice from me please, please do this one.

2. Build A Team of Experts

Few, if any, business owners succeed without a team of experts to guide them. These people can save you a tremendous amount of time and money and possibly even legal problems. Your business team should consist of a good real estate attorney who understands the state laws and an accountant. I recommend finding an accountant who is also a real estate investor if possible.

You should also have a realtor in each area you are considering investing in, an appraiser, a home inspector, an escrow company, a mortgage broker, other investors, a general contractor, and an insurance agent. There are other specialist would should also consider for special cases such as an architect, a surveyor, environmental company, etc.

3. Have a Plan

Develop a business plan for your real estate investing venture even if you are not new to it. After all, this is a business and few really reach their potential without a good plan. I promise you, spending a few hours putting it down on paper will be well worth it. And it’s always good to revisit your plan often to keep you on target.

4. Network, Network, Network

Real estate is people business. If you haven’t done so already, get good at smoozing. Now I don’t mean the used car salesman type where you do all the fast talking. Join your local real estate investment club, become a member of a church if you aren’t already, volunteer with Habitat For Humanity, just get involved! Get to understand what the seller’s or buyer’s needs are. This means listening! Get to know what other investors are looking for and who the local “players” are. You may be able to do a partnership on a deal or refer them to a deal that may not be exactly what you’re looking for. Above all, treat everyone you meet with respect whether they’re your team, sellers, or buyers and they will respect you. If you do these things, more deals will come your way than you can possibly handle. I can think of a lot worse problems to have!

5. Know Your Market

Spend some time getting to know the areas where you plan to invest. Go to some open houses and talk to the agents. Drive the neighborhood and look for the “For Sale By Owner” signs otherwise known as FSBOs. Look for homes that appear vacant or in disrepair. Learn how much homes go for in the area and what the local trends are. Talk to some the local residents and learn what the community is like. Is there crime in the area, how good are the schools, is the area growing, what are the local demographics? This information will serve you well when it comes time to invest.

6. Never Buy A Property Without At Least One Solid Exit Strategy

In real estate, you make your money when you buy, not when you sell. So what am I trying to say here? For each offer you make, you should know exactly how you are going to make your money from it. It could be as a rental for which you should have a positive monthly cash flow. It could be as a rehab and flip for a profit. Or maybe you may offer it as a lease with an option to buy. Or, it could be hold for the equity growth. Run your numbers for each strategy. If the numbers don’t work, don’t do the deal no matter how much you like the property!

7. Treat Your Agents Like Gold

Real estate agents can make or break your business and a good one is worth their weight in gold. They will do much of the legwork for you and bring you potential deals. They know their areas inside and out and can steer you away from potential problems. They will even find you buyers for your properties as well as show it while you are out looking for more deals. And, they work only for commissions based on the sales price of properties that sell.

However, most real estate investors don’t buy and sometimes don’t sell property at full market prices. This could directly affect your agent’s commission and their motivation to support what you want can diminish. I suggest paying your agents commissions based on market price regardless of the ultimate sales price. Yes, it may impact your profits some but you’ll have a very loyal agent. And guess who gets the first phone call when hot property comes up!

8. Don’t Be A Hog

The old saying goes, “Pigs get fat, and hogs get slaughtered.” The saying holds true in real estate investing as well. Many new investors make the mistake of trying to squeeze out the maximum profit out of every deal and then wonder why they can’t find any buyers. Don’t be afraid to leave something on the table for the next guy, especially if you’re selling to other investors. It’s better to make a lot of smaller profits over and over than it is to make one big profit. This strategy should have potential buyers lining up at your door when you have a property to sell.

9. Give Away 10-15% of Everything You Make

I can hear you now, “He said what?!” That’s right, give away 10-15% of everything you make. How you decide to do it is up to you, but I warn you, you may have to get creative. Steve, a mentor of mine follows this rule like a religion. In fact, on his very first deal he made about $5,000 which he need desperately, since he had recently lost his job. He was nearly bankrupt but still decided to give away some of his profits. He decided to buy his pastor a new suit, something he had never had in his life. Even though Steve was excited about making the money, the look on his pastor’s face when he wore it for the first time made him feel ten times better. By the way, word got around very quickly and before you know it, he had three more deals in the works that profited much, much more.

10. Offers, Offers, Offers!

You’ll never make any money if you don’t first start with an offer. But for some reason, this seems to be the biggest hurdle for most new investors. I like to use the “Fire, Aim, Ready” approach to making an offer. Don’t spend a lot of time trying to figure out what the perfect offer will be, just make one. Most of my offers are made without ever having seen the property. Remember, if the first offer doesn’t embarrass you, it’s too high. I know of a very successful real estate investor in the Tampa area who once offered $1 for a $14 million golf course! Okay, so he eventually bought it for a little over $2 million and the resold it a couple of weeks later for a tiddy profit. It’s only after you have the property under contract that you should spend the time to determine if the price is right or not. Most successful investors will make 25 or more offers a week of which maybe only two or three may eventually end being accepted. Of those, maybe one will make it to closing. But let’s see, one deal a week, $5-10,000 profit each….you get the picture.

11. Have Fun

Like any business, real estate investing has its challenges. Sometimes deals fall through at the last minute, renters can be a real pain, or you find out about the sewer line collapsing at one of your properties that needs $15,000 in unexpected expenses to fix it. There will always be obstacles to overcome but the rewards can be well worth it. So have fun with it! If you truly enjoy it, it will show on you and suddenly the problems don’t seem like such a big deal anymore.

There are many more tricks to the trade depending upon which niche you decide to invest in. But the basics are the same across the board. Apply these secrets and you too can become the next multimillionaire.

50 Legitimate Work From Home Business Ideas and Opportunities That You Can Start Easily

Starting a business from home can be a bit straining given all the different possible business ventures available. There are a lot of ideas for business from home nowadays and if you have limited resources, you might find yourself a little too confused at which to choose. Or if you already have an idea of what you want to offer, you might be hesitant because of some legal considerations that you need to think about.

The easiest way to choose what kind of business to start from home is to think about your basic strengths and assets. From this, you will be able to determine the kind of business from home that you want to start. You will also need to think about the pros and cons before you start your own home based business. It is okay if it takes you a lot of time to think about what business venture to choose. After all, it takes patience to achieve success.

If you are still a bit confused then let me give you a few business ideas that you could try.

Here are 50 legitimate works from home ideas that you can refer to if you are quite confused on where to begin.

Simple Services As A Home Based Business

This kind of business venture is most ideal for those that have lesser capital or to those that have none at all. This is usually just small scale and may require most of your time. For this type of home based business, you won’t need to utilize much space at home as well. Although there may be times that you will need to conduct your service at home like in babysitting or in pet care servicing.

Service-oriented businesses may range to the simple services that you could offer like babysitting to the more skilled type like painting or electrical repair services. Your initial clients are usually friends or neighbors. However, do not be bothered if business is not a mega success at the beginning. Once people see the quality of service that you offer and provide clients will just come faster than you expect.

This is the type of business venture that is easiest to start because of its nature. Basically, you won’t need much supplies or materials to start service-oriented businesses. Take note though that although this type of business venture requires low capital, it might require a lot of your time. In some cases, this may require you to provide services at the homes of clients.

Although this is way easier than the other business ventures that you can try, this also requires more effort on your part. Your performance will be the sole determining factor that will encourage people to hire your service. To develop your business, you will also need an endless supply of creativity to constantly improve the service that you provide. Your creativity is particularly handy when you want to start pet care or painting services.

Some services may also require an appropriate amount of training like computer knowledge when you want to start a bookkeeping service business. There is also training needed when you want to start a repair service business. However, in this type of business, you won’t need any license, though that may increase your probability of being hired.

If you are the type who has big plans in the future but doesn’t have a capital to invest in a home based business, this could also be the perfect business venture for you. It’s true that it may take time for this type of business to grow but trust me, couple with determination and the nest quality of service, your business might grow into a lot more in the future. Think that most huge and established businesses that offer these types of businesses started off as small-scale. This could be your stepping stone in making it big in the service oriented industry.

  1. Child care
  2. Elderly Care
  3. Home cleaning services
  4. Yard cleaning services
  5. Bookkeeping services
  6. Repair services
  7. Pet care services
  8. Painting Services

Knowledge and Expertise Based Business from Home

If you are the type with the skills and expertise that you want to share, then this is the type of business venture that you can start. Most people nowadays prefer to take up lessons in private, whether at your home or in their homes because it is more convenient for them. This is advisable for those that have more time to spare or for those that don’t have kids at home that could disrupt lessons or your work.

This is ideal for those with the talents and readily available instruments or materials needed for the business to start. This type of business may also require a lot of your time but if you share your skills that was your hobby before, starting this business could be stress relieving and enjoyable for you.

In this type of business, particularly with those that provide lessons and tutorials, you will need to invest a lot of patience because most of your clients will be young people. This is because most parents would want their kids to acquire talent while they are young. So besides your incredible skills, you will need a handful of patience as well. You will also need to make sure that you are able to communicate properly because that will be one the factors that might or might not motivate clients to hire your service.

This is also easy to start because you won’t need much material. You don’t have to worry much about legalities when starting this kind of business because this is usually small scale. However, if you are planning to venture into a food business, you will need to consider asking local authorities regarding permits that you will need to secure.

  1. Private tutorial
  2. Music Lessons
  3. Dance Lessons
  4. Arts Lessons
  5. Arts and Crafts
  6. Baking
  7. Catering Services
  8. Events Planner
  9. Networking
  10. Buy and Sell

Professional Services As A Work From Home Business

There are more and more professionals nowadays that prefer to work on their own rather than working for a company. It gives them more authority and gives them more opportunities to manage their time. This type of business mostly requires permits and some form of training and certification so you could start. However, if you are already a licensed professional and has established a good reputation for yourself already, all you need is just a little capital to invest for materials and supplies that you would need.

In starting a small business from home that offers professional services, you would usually need to spare a room or a space from your home that will serve as your office. This is because clients that seek your services will need to consult with you. Although there is a possibility for you to utilize online resources for some of the home based business that require professional services, most still need personal contact or conversation.

You will also need to invest in advertising since there is also an increase in the number of professionals that put up their own home based businesses. There may be a need for you to hire staff if you have some capital to spare. This will just lessen your trouble with filing and documentation but you can always just start off without any. This will just depend on how much you can afford to spend initially.

When it comes to legality issues, you will need to coordinate with local authorities regarding required permits that you need to secure. This is because some of the type of professional services that you would need to offer need certification. Good quality service will be your winning edge compared to your other competitors.

  1. Landscaping
  2. Counseling
  3. Interior Design
  4. Accounting Services
  5. Real Estate
  6. Plumbing Services
  7. Photography Services
  8. Family Clinic
  9. Tax preparer
  10. Sewing and Alterations

Home Based Businesses That Require Space For Putting Up Shop

If you have a room or space to spare at home, then this is the type of business venture that you can start. You don’t have to build a whole new establishment when starting this kind of business. Although in this type of business, you will need to make sure that you live within areas where people usually go by. This is because the type of business that you will put up needs to be visible to people for you to attract clients. You will also need to invest relatively a lot.

In this kind of business venture, you will also need to emphasize on your marketing strategies since this type of business requires the best marketing and advertising strategies to work. Furthermore, you may also need to invest on hiring staff since basically; you won’t be able to run this type of business all alone.

This kind of business is ideal for those that are willing and have available capital to invest. Although this business requires a lot of investments from you, this also is the type of business venture where you can see returns to your investments faster.

This is the type of business where you will need to utilize your connections more. When I say connections, it does not only refer to seeking possible clients but it also refers to possible suppliers that can help you establish your business. In putting up small scale shops, you need to make sure that you are able to locate suppliers that are affordable and efficient so that you don’t jeopardize the quality of service or products that you will offer once your business already operates.

Bear in mind that in putting up a shop, you will need to compete with a lot of different shops as well. These competitors may be home based and most will be shops that are already established. You will need to ensure that what you can offer is the best product of service. This is where good business planning is most needed.

You may need to secure legal documents when you want to start this type of business from home. It isn’t exactly that complicated because legal permits are particularly because your business has the tendency to attract people thus increasing the amount of traffic in your area. Also, it may require some permits to secure. But just like I mentioned, with the proper planning, this kind of business can return your investments faster than the others.

  1. Car wash
  2. Boutique
  3. Family Restaurant
  4. Laundry Shop
  5. Library or bookshop
  6. Auto Mechanic Shop
  7. Beauty Shop
  8. Flower Shop
  9. Small retail shop
  10. Pet shop
  11. Candy Shop
  12. Bed and Breakfast
  13. Party Needs Rental Services
  14. Food stand
  15. Spa and Saloon
  16. Woodcraft

Online Business Opportunities That You Can Do From Home

This type of business venture is one of the easiest to start if you have the skills, knowledge and resources. People rely on technology nowadays. Because of the change in the lifestyles of people today, they tend to rely on computers for their convenience. With this in mind, you will be able to know how to approach the field of online business wisely.

Although this is one of the easiest, it also may require some form of training especially of you plan to start a computer consultancy business. People don’t just need assistance but they also would need quality services. With all the demand for online jobs these days, you will also have more competitors to outshine making this type of business the most competitive among all.

You will only need a little capital to start this kind of business. Firstly, you will need your knowledge and skills with computers. You will also need a computer and a fast and reliable internet connection. People expect quick and efficient service so it is strongly advisable that you invest in good quality materials if you want your business to succeed.

You also won’t need to think much about legalities since there are only a few legal considerations when it comes to putting up online businesses. There are a lot of articles and books that you can check online for guidance and reference.

Computers are today’s main source of convenience. This makes it easier for you to market your service since most people nowadays own computers. Furthermore, besides being amazingly knowledgeable with computers, you will also need to be creative.

There are a lot of people that has skills and knowledge but only a few have fresh ideas and creative talents to offer. This should be your major marketing strategy to enhance the probability of attracting clients.

This type of business does not usually require you to do home service except for computer consultancy. That is why you will also need to educate yourself regarding accounting matters. This is with regard to the payments of your clients. Unlike with regular businesses where they deal with clients on a personal basis, you only deal with clients online. This makes it harder for you to ensure that your service is being paid. An adequate amount of reading and research will help you overcome this challenge.

  1. Online Shop
  2. Graphic Designing
  3. Print advertising shop
  4. Online tutorials
  5. Copy reading services
  6. Computer Consultancy

Home based businesses can range from service oriented business to those businesses that would require you space to put up a shop. There is also some businesses ideal for professionals and there are some businesses that can be started without much training from school.

There are a lot of ideas for starting a small business from home. It may be confusing but with the just the right amount of determination and planning, you will be able to know where to start. Your skills should always be your most important determining factor when you are unsure of what business venture to choose.

You can also think about the resources you have available. This will help you decide. In starting a small business from home, you need to make sure that you are fully prepared. This means that besides the brilliant ideas, you will also need careful planning and wise implementation.

Thinking about the legal considerations in starting your business should be part of the planning process. Although starting a home based business is practically easier to do than starting a huge business, you must still make sure to cover all the necessary requirements so you won’t encounter any problems in the future.

The decision to start a business from home could be one of the wisest things that you can do. It is one of the easiest types of business ventures yet it’s also one that requires a lot of determination and will. Since you are the only one that is solely responsible for all the decisions made in your business, you will also be the one most stressed and pressured. But don’t take this negatively. The nature of starting this type of business must be a challenge for you. It is very easy to start a business from home but it could also be very challenging.

After thinking about what type of business venture to go into, you must prepare yourself for all the possible risks and challenges that you might encounter. Planning is one thing, implementation is another thin. After you know how to start a business from home you must also think of ways on how to maintain that business. After all, being successful in a home based business is not determined on achieving your goals alone but it’s also on how you maintain that success.

Tracking the Changing Fashion Trends With the Current Consumer Consciousness

Fashion is a reflection of person’s changing attitude and values. A personal style statement can become fashion when it is seen and adopted by others. The style should be appealing to be imitated by other public. On the other hand trend is referred to the particular set of product preferences within a consumer group. People generally follow fashion trends due to lack of confidence, interest, hesitation or lack of time to try out something new.

Features of Fashion

• Fashion is not based on price
• Fashion is changing everyday
• Particular style becomes fashion when it is accepted by majority
• Sales promotions doesn’t have a direct impact in popularizing any sort of fashion
• All fashions ends in excess

Based on these features a number of theories have been formulated explaining how fashion is adopted in a social environment. Some of the theories are:

1. Trickle -Down theory or Downward-flow theory
2. Trickle – Up theory or Upward -Flow theory
3. Trickle -Across theory or Horizontal – Flow theory

Understanding the changing Consumer Fashion Trends

Most fashion designers observed that customers mostly grave for unique colors and style. Choosing a particular theme has also become important. Through unique color combination they try to express their creativity and individuality. But in this economic unstable situation they are now looking for more comforting colors. Innovative textures, pattern, prints and draping style are also preferred by the customer.

To flatten the skin tone and to lift the spirit they look for vibrant colors. Color adds depth and spark to the individual personality. Now customers have become more conscious about their look. They now visit shopping malls on regular interval or check visit different fashion website to check out the new arrivals. They look for quality product at the lowest price. If something attracts their attention and satisfies their need they don’t hesitate to spend some extra money.

Designers have also responded to the changing preferences of the customers by creating eye-catching unique dressing materials. After studying the consumer behavior thoroughly they also predict the fashion forecasting that exposes the fashion for the future. Based on this they design their new collection to delight the customers.