Friday, April 03, 2009

Money Making Webinars Involving Real Estate

Want to make money with Real Estate? Well, you've come to the right place. I have heard of numerous ways from numerous practitioners in the field of how to find the right niche that works for you!

I am going to summarize a few of them here for your reading pleasure and possible pursuit to perfection.

Land For Pennnies

Land For Pennies is the first one that caught my interest. I actually attended a seminar in Phoenix Arizona to hear it from the guru himself, Jack Bosch. The idea is very simple and possibly very profitable.

Here is the quick rundown:
1. Contact the tax office in a county your are interested in (try to stay at about 1-2 hours drive away from a major city).
3. Get them to give you an electronic copy of ANYONE who is late in paying their taxes.
4. Take the list and whittle it down to just the landowners that don't have mortgage (own it free and clear) and that live out of state or not near the property.
5. Mail a letter to those owners and offer to buy their land.
6. Wait for the phone calls (about 5-15% response rate expected).
7. Find out if they own it free and clear, how much they want, how long they owned it (the longer the better). Hang up.
9. Do your due diligence to find out if there are any liens, etc.
8. Mail them a low offer anywhere from 5-25% of the market value.
9. If you get an offer signed and returned, close on it.
10. Sell it for about 50% of market value for cash on eBay, or other online ad.
11. Or sell it for full market value using owner financing for steady income or cash flow.

Why it works. Many of these owners do not have an emotional attachment to the property, they might have inherited it. They might have had plans years ago. They might have tried to sell it years ago. They are tired of just paying taxes on it every year. They are ready to let it go for pennies on the dollar.

That is it for one way of making money with real estate. I'll write other ways I heard of in future blogs.