Real Estate Investing Gurus – Top Tips I’ve Learned

Everybody learns from somebody, and, when it comes to real estate investing, I definitely have spent considerable time and money studying flipping “at the master’s feet.” I’d like to share the top tips from the top real estate investing gurus I learned the most from over the years.

  1. Ron LeGrand© – anybody who needs to copyright his name is probably worth listening to! LeGrand is definitely the big name in our business. Although people have been into real estate investing since way before Ron Legrand, I don’t think anybody’s taught it to the masses like Legrand has. Legrand made famous the MAO (Maximum Allowable Offer) formula everybody’s used for years.

    My greatest takeaway from Legrand was the MAO formula and the mechanics of the quick flipping business. The famous Ron Legrand quote “the less I do, the more I make” was also my first inspiration for systematizing our real estate investing business.

  2. Robyn Thompson – once I learned the mechanics of flipping, I decided that flipping rehabs was where I wanted to focus. I invested in Robyn’s courses, and attended her rehab and marketing for real estate investing bootcamps. Robyn is one of the best real estate investing gurus out there for giving huge value at every level of presentation (from the free ones to high-dollar bootcamp).

    I learned a TON from Robyn about the rehab flipping process, but the number one takeaway I got from Robyn was how fast you could really flip rehabs if you just threw more resources at them.

  3. Dave Lindahl – I met Dave through Robyn’s events, and attended his bootcamps and invested in his courses. Dave teaches flipping for “chunks” of cash, but nobody knows markets or apartments better than Dave.

    What has been most valuable to me from Dave was his ‘Managing for Maximum Profits’ home study course. An investor with no experience or training in managing property is like a lamb to the lions. I started on the right foot, and have managed properties for years successfully.

  4. Louis Brown – Lou Brown is the undisputed king of real estate investing forms. I’ve used Lou’s forms for real estate investing since the beginning, and have always appreciated having an incredible library whenever I need a new document.

    Lou’s forms, therefore, are my #1 takeaway from Lou, and I still use many of them today for flipping.

  5. Kris Kirschner – Kris’ Auto-Pilot Real Estate Systems(TM) for Buying and Selling real estate set the standard when we were growing our flipping business. Kris is a systems guy all the way, and his real estate systems are used across the country to really automate so much of our business.

    My greatest takeaway from Kris was his approach to “self-serve” showings. Putting a lockbox on the house, giving the code to people to view, then offering a self-serve kiosk in the kitchen with brochures and applications was pure genius, and I can’t imagine that we ever showed properties in the “olden days.” Flipping real estate is definitely best self-serve.

  6. Dan Doran – Dan is the truly the master of the sales process for real estate investment, though that barely scratches the surface of what I’ve learned from him. Dan’s ‘Sales Mastery’ course has made a bigger impact on our real estate business than any other system we’ve implemented.

    If I have to pick just one greatest lesson learned it’s this… “If there’s equity, GO!” Dan was the first to coin this sales strategy, which was contrary to what EVERYBODY else was teaching about flipping (they all said you needed to be looking for motivation, and skip right past the unmotivated sellers). Dan is also a master of the inner game, business building, and the pre-foreclosure niche.

  7. Richard Roop – Richard is Dan’s partner, and together they teach real estate marketing, systems, and have a fantastic coaching program, which I’ve been in for years now. Richard is a killer copywriter, and his slogan “Sell your house as-is, for a fair price, on the date of your choice” is probably the most copied real estate headline in our business.

    Pressed for the top lesson, I’d have to say it’s the importance of marketing in our flipping business. The first time I implemented one of Richard’s messages on a long-running campaign, I was literally overwhelmed with phone calls by people who had been receiving my messages previously, but never responded.

Thinking of Buying Real Estate With Roth IRA Funds? 4 Tips to Mistake Free Investing

If you are thinking of buying real estate with Roth IRA funds, let me give you a little advice. Choose the right custodian. There are many examples of a roll over IRA buying real estate, successfully, but the fees charged by various custodians can make a big difference.

#1 – Un-invested Cash Balances

Once you begin buying real estate with Roth IRA funds, you will almost always have some cash in the account. In fact, you need to have some cash there, because all of the costs associated with maintaining the property must come from the account.

Don’t think that custodians don’t know this. They take advantage of it. There is one big company that takes away 45% of your earned interest on un-invested cash balances every year. They call it a maintenance fee, but there is no extra maintenance involved. It doesn’t matter what is held within the account, the same type of maintenance is necessary.

#2 – Additional Charges

When it comes to a roll over IRA buying real estate, you’ll have to have a self-directed account. You tell your custodian to write a check for a purchase. Some companies charge for writing checks. They charge for transferring titles and deeds or mortgage notes. They charge a fee every time that you use the account to make a purchase or sell a holding. All of these fees can add up to thousands of dollars in a year’s time.

When speaking of a roll over IRA buying real estate, one of the biggest advantages for investors is the ability to keep more of their profits, due to the tax-free environment of the account. But, if a custodian charges numerous fees, you aren’t keeping as much.

Similarly, one of the biggest advantages to buying real estate with Roth IRA funds is that you will “never” pay taxes on those earnings. Your contributions are taxed as regular income. There are no capital games or income taxes on earnings made within the account. Qualified distributions are never taxed.

#3 – Annual Maintenance Fee and Reasonable Set-up Charge

If you have a roll over IRA buying real estate can only be accomplished if you choose a custodian that offers the option. Those companies that are currently offering “free and easy set-up” do not offer the option. They are stock brokers and they charge large fees for buying and selling stocks.

A reasonable set-up fee is $50. The annual maintenance fee depends on the total value of the account. If you’re like me, you’re shooting for a million dollars or more by buying real estate with Roth IRA funds. Believe me, it’s not an impossible dream.

#4 – Get An Education

If you are inexperienced when it comes to a roll over IRA buying real estate, get some education and information first. There are a small number of companies that offer “hands-off” investment options. That could be the best choice at this time.

As you learn more about buying real estate with Roth IRA funds, you will be able to do more. But, start out slowly, just to be safe.

Five Basic Tips for Investing in Real Estate

There are a lot of things to learn in Real Estate before you start investing. In fact, investing in Real Estate is much more complicated than the stocks investing. That is why Real Estate has become the common investing area for many people and thus have become more popular over the years. One needs to have financial and legal knowledge before investing in the Real Estate.

So, here we are providing you five basic tips which helps you to familiarize yourself with the basic concept of Real Estate.

1. Location:

Location Matters which is an old age saying perfectly suits when we think of the investing in Real Estate. The first thing you should make sure while investing in a property or proceeding forward is whether it is located in a good place or not.

If it is the best location, it can be the worst house there, but that doesn’t matter as you can just fix the issues or resell it to someone who wants a house in the best location. This is called as the Fixing and Flipping formulae by the professional Real Estate investors.

2. Wholesale properties:

Being wise is also very much important while investing. You need to follow the Warren Buffet formulae from the stock market investing which says “You need to be greedy, while everyone else is feeling fearful.” You need to look out for the wholesale properties that are being offered at great discounts and thus avoid paying full prices.

Using this technique, you can buy the property at low price and keep the selling price twice the buying price which helps you in maximizing your investment return.

3. Connect with local investors:

Hanging out with the local investors and talking with them about the local Real Estate market will help you in knowing the things better. Ask them to show their properties and take in every single bit of information they give you.

4. Reading helps a lot:

There is a tremendous amount of information available online these days. You can also gain information that you may need regarding the Property field and investing as well. Buy and read books that give you practical knowledge about buying, flipping, renting and selling the properties.

5. Find a good Realtor:

This is the best part. When you are all set and finally ready to invest in some property, then a Realtor is the person who helps you with it. And a good Realtor who understands the concept of investing returns and also have sold a number of properties can be the best choice.

Property investment can offer fabulous returns, but there are also people who are bankrupted after investing in Real Estate. It is all in your hands, so be sure and know everything involved before you invest.