Archive for April, 2010
Easiest Way to Learn Real Estate Investing
April 10th, 2010 | 
Author: Real estate bird-dogging in is the process of finding great deals on property and then getting paid for it. You provide investors with property leads and they pay you for those leads. An example would be an investor will pay you for locating a vacant house $250 just for driving buy and writing down the address. Investor will pay the $250 or what you decided on when they end up buying the house. This is because not all houses are deals. With vacant house if the bird dog puts in some extra effort and find the owners of the vacant house then they pay an extra $250 at closing.
Why do you call it bird dogging?
Investors call it bird dogging because you are going out and retrieving leads for investors. Just like a bird dog goes out and gets birds for hunters. It’s just a name personally it should be called something like lead retriever but that have never really caught on.
The benefits of Bird-dogging.
You do not need to have good credit. With traditional real estate investing a lot of times you need to have good credit to get a loan and buy houses. There are ways to become a rock star investor without good credit but bird-dogging is a great place to start and earn extra income in Billings Montana. There is no money needed. I know it’s hard to believe but all you really need to start is to walk around a few neighborhoods and look for houses or even just hear of someone looking to sell quickly. This is also one of the best ways to learn a market and learn about real estate investing.
When do you get paid?
From my experience you could be getting a check in as little as three weeks. There is however several factors that will go into how soon you can expect to receive your check. Some real estate deals take longer to close on. Because there is often liens on properties which takes some time to get cleared off the title. Also some sellers will want to take their time to close, so they can find new living arrangements.
We usually close on properties in 30 days but do have the ability to close in as little as 3 days in some cases. It all depends on the situation.
Why we pay for leads.
Successful real estate investors know that we cannot possibly get to all the good deals out here or find them. I spend a lot of time meeting with clients, realtors and keeping projects on task. Bird Dogs are important for all investors to help find some of the best deals in Billings Montana. What you should be looking for.
Property owners who are willing to sell their home below market value because something about their home is causing them pain. We are providing a service to them, with the benefit of immediate sale. Most motivated property owners are willing to sell for less because they just want out. They cannot afford to make the necessary repairs their house needs. The house payments are killing them and ruining their credit. What would the homeowners do without us; they would lose the house and get nothing from it. The reason sellers want to sell include Divorce, death in the family, downsizing, drug addiction, can’t afford payments, relocation, no patience, bank is going to foreclose on the home, bough another house and could not sell their other house, can’t pay taxes, violations from the city, don’t like neighborhood, also landlords who are tired of bad tenants.
There are several more reasons but these are just a few. So to finish off do you think you would like to make some extra money in your spare time looking for vacant houses and motivated sellers? If you do, contact Big Sky Property Solutions LLC. Becoming a real estate bird dog is the best starting point for anyone looking to get into real estate investing. Get out there and find some deals today.
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How To Start A Real Estate Investment Club
Investing in real estate can be very profitable if done correctly. However, it can be daunting for someone who knows little about real estate investment or has little capital to invest. Just as there are investment clubs for stocks there are also investment clubs for those who want to invest in real estate. The purpose of a real estate investment club is to get a group together who can pool their resources and knowledge to invest in real estate.
The internet is a good place to research and learn about real estate investment clubs. Most clubs online ultimately want you to join and may not provide enough information until after a commitment is made. While most of these are legitimate you should research them before you make any type of commitment. You can attend meetings for other clubs to get a feel on how they operate. It’s helpful to have some first hand knowledge about real estate investment clubs before opting to start your own.
Be familiar with the relevant laws of your state before starting a real estate investment club. You and your group will need to know how real estate transactions are handled so you won’t lose money on your deals. It’s always helpful to find at least one member who understands these laws. In fact, members who have specialized knowledge such as accounting, law, finance and real estate can be beneficial for the group.
Many real estate investment clubs hold regular meetings, at least once a month. These meetings are used to make key decisions for the group. The group can elect officers such as president, vice president, treasurer and secretary to preside over meetings and manage the club. Additionally, you can form committees that perform special tasks such as scouting out potential property investments. Meetings can be held in person or as teleconference over the internet if many members are not local.
Monthly correspondence in the form of a newsletter can be sent out to members to keep them up to date on current events as well as when the next meeting will take place. It’s good to invite professionals such as real estate planners, realtors and brokers, financial planners and tax specialists to speak at meetings to share their experiences and educate the group members.
Deciding how much money to invest can be tricky. It is often best to start out small and work your way up to larger investments. The more members you have the less money each will need to invest. On the other hand, the more members you have the harder it would be to come to unanimous decisions. When starting a real estate investment club, write up bylaws that everyone agrees to. Be sure to include how decisions will be made and what power the president has, if any, to resolve disputes or override decisions.
Degrees in Accounting
An accounting degree gives students a solid foundation in auditing, economics, bookkeeping, and consulting services. Today, degree holders in accountancy are also expected to have not just analytical skills but also computer skills. Accountants need excellent computer skills because much of their day is spent entering data into databases, creating spreadsheets, and using technology to present financial information. Qualified accountants are in high demand today, even during the economic downturn. There are a lot of options when considering where to get an accounting degree. For students who aim to major in this field, the best option is to go to an accredited university that offers a four year degree program. Students will be able to earn the Bachelor of Science in Accounting title and qualify for job opportunities in the business world. Students can also opt for an online education program that offers accountancy degrees, but make sure that it is accredited. Accounting students can pursue other accounting degrees such as the Master of Science degree in Accounting and a Doctorate degree in accounting. A Master of Science in Accounting degree is usually a two year program while the Doctorate in Accounting degree takes about four to five years. Both involve dealing with the accounting theory, research methodologies, and accounting teaching techniques. Both involve heavy coursework and writing a thesis. Other degrees such as a Master in Business Management (MBA) also give emphasis to accounting principles. Some MBA programs will allow you to specialize in accounting. One intriguing type of accounting is known as forensic accounting. This focuses on analyzing documents and examining evidence for criminal activity. Not many universities offer a lot of courses geared towards forensic accounting so if you want to get into this type of work, you’ll need to do your homework first. Managerial accountants provide information for managers to make smart decisions for the business. Financial accounting deals with financial statement preparation for suppliers, stakeholders, banks, and other financial institutions. Determining what type of accounting interests you most is a good idea because there are a lot of options out there. Accounting is a complex and exciting field. Some students may prefer to pursue higher degrees such as the Master of Science in Accounting degree and the Doctorate in Accounting to further their knowledge on accounting and utilize their skills on it. Some may opt for specializing in an area of interest. However, most people who seek degrees in accounting will simply get a four year degree before working for an accounting service.
Relationship Marketing – How Creatives Are Changing the Face of Business
Someone in a recent workshop talked about how life is full of surprises. The Inner Circle Conversations I hosted this summer were one of those surprises. The richness and depth of those conversations made them well worth while, and reconnecting with my “inner circle” clients created amazing sparks all around.
Carly Goldsmith, part of the Inner Circle Conversations became a client at her private Creative-Conscious Business Retreat with me last spring when she launched her business, Carly Goldsmith Coaching. Our relationship actually began long before, evolved into the retreat, and continues to deepen and enrich both of us now.
Just like me, Carly is very creative. My own journey was filled with lots of hard knocks, and being able to guide very talented “creatives” (like Carly who’s a real superstar) into building strong, healthy businesses through relationship marketing tools, faster and with less pain than I had to go through, generates a ripple effect that expands my work exponentially. It’s deeply rewarding for me is to witness Carly creating these types strong, healthy relationships with her clients in her growing business now.
Creativity, like relationship, is generating “value with integrity” something that has been missing in business for decades. As a creative though, my innate talents were really dismissed and de-valued in favor of my business savvy. Over the years, it did a number on my belief systems, and I actually carried that with me when I opened my own business, and created a delay in my success with integrity.
Many creative business owners tell me they can relate to my story. This is what moved me to lay out a process that guides creative business owners through the relationship model, which feels really good for them.
Because creatives need grounding, “above” and “below” the surface elements are integral parts of this process. Creatives need solid, proven tools that are adapted to align with your nature, which is very different from the tools and nature of traditional business. This adaptation is what allows you to create and re-invent a successful business that makes a big difference for its clients, and makes a good living for you, its owner.
The whole process is framed in relationship, which is how I’ve been so successful in corporate, medium and small businesses for over 20 years now. I’ve crafted it so that the creative can really relate to it, and feel good about the give and receive flow in your business.
There will be many ways that you can access and apply pieces of the process in the upcoming weeks (watch for details), and today I’m sharing with you a high-level overview of one of the most challenging phases, and how relationship marketing supports you, a creative, in growing your business in a way that you can feel good about.
Deepening the Relationship
As a creative, you “get” that when a relationship is not moving, it’s stagnant. No matter how strong your client relationships are, by nature, the relationship must stay in motion.
Many creatives share with me that they are challenged to understand how to move the relationship into the next “right” level, and be discerning about what clients really need to continue growing with you.
Often, this challenge brings with it an anxiety about income (which generally indicates that you’re not dealing with your Authentic Self, so it’s a signpost gently guiding you in a new direction rather than something to be scared of), invites a “too” strong an attachment to certain clients, opens worry and self-doubt around your marketing and service skills, and clouds and confuses where your business really serves best. Of course, all of this will create misguided connections with your clients, affecting the integrity of how you move forward.
If any of this resonates for you, pay attention to learn more in upcoming articles, get access to relationship marketing tools, and begin to walk the talk that’s really in your heart. This is the key to growing a business that serves you and your clients. And this is exactly how you as a creative can be part of the movement that is business by storm right now.