OfflineEveryone of us have the same dream, of becoming a Real Estate Millionaire, but that dream may be obtained in more ways than just buying and selling property. I broach this subject because real estate is a vast field and there are many ways to profit from it besides selling and buying.
This was brought to mind recently when my son decided he and his friends needed some summer work to help support their very expensive hobby (future careers) of BMX Free-styling (trick bike riding).
You see, I had been paying the group of them, about 7 teenage boys, to clean up the houses I have been getting. So after a long brainstorming session we came up with quite a few things they could do to earn money, but the common denominator in most of them was real estate. As I posted an ad for REO house cleaning and property clean up. Over the weekend I just had 3 lenders call to get more info on the services.
"The beauty of real estate as a field and industry is that there are so many different way to make a living from it. The rental business is a great foundational platform to launch other ancillary services and profit centers. Your existing housing business (rentals) make an excellent platform from which to launch a parallel business opportunity.
For instance. Suppose you want to make a go at full-time real estate, but the properties you currently own just aren't enough to make a full-time go at it. Couldn't you easily provide your superb services of rental preparation and perhaps maintenance skills to other investors? Yes, you could. By marketing yourself cleverly as a rental preparation expert you can save other investors a lot of money and provide a complimentary income stream for yourself.
From here you could expand into additional services like:
* Land Trust Trustee Services
* REO Repo Cleanup
* New Construction Cleanup
* Eviction Services
* Monthly Maintenance/Service Contracts
* Consulting
* Winterizing and Property Security
* Services on vacant units, etc.
Suppose, you're not the hands-on type, couldn't you start a home-based mortgage brokering business. If you're a detail, paperwork type of person there's substantial money to be made here. Perhaps, getting into so-called "bad paper" or judgment recovery is another option.
Let's not forget professional title searching. Again, you can get started in this business working from both home and from the courthouse, therefore, not needing an office. While this is more like buying a job, you can take this valuable skill and begin to either buy bad paper for literally pennies on the dollar and recast it or buy distressed properties loaded with junk liens and with your title expertise effectively--de-lien the title (certain liens will expire), thereby letting time clean the title.
Let's not forget buying and selling properties. The two biggest opportunities here are the Rent-to-Own / Installment Sales house business. Or the wholesaling game. Right now the wholesale game is looking great because the investment markets are flooded by burned out stock investors. These folks want good investments. As a wholesaler you tie up the deals and let others close in your place. The profits are smaller, but it's faster and cleaner.
The rent-to-own house business is another great opportunity because you as a professional buyer set up base financing with the seller and then resell with your own custom credit package, also know as lease-purchase, land contract, or RTO. There are thousands, no make that, tens of thousands of folks who need your custom credit deals to get into a house. Best of all, most of these properties can be sold in some sort of fixer upper condition as long as the major mechanical problems are fixed. Get ten or twenty installment deals going and you'll see how good this can be.
Do you consider yourself somewhat of a marketing expert. Why not start a real estate marketing consulting practice where you help licensed agents, private investors and brokers market their own business? A real estate marketing specialist.
There are literally dozens and dozens of small business opportunities that you can start with minimal cash investments. Find something that interests you and get started building another income stream into your business. If you are in the rental business look for rental-related services you possibly could add to your business mix. For instance, if you just rent houses, consider buying or building basic garages. There's good potential offering low-cost storage space. Did you know you can buy distressed city lots for $500 at tax sale? Then for another $3,000 you can put up a basic cement block garage. You can typically rent these out for between $75-200 per month! Not a bad ROI.
There are countless opportunities with land, mobile homes, paper, sales careers, property management, maintenance, consulting, furnished room and apartment rentals, investor services, and much more. Open your mind to the idea of adding a new twis t or service to the business you already have!www.armhousing.com"
Not to take anything away from buying and selling but sometimes we need other ways to generate the cash flow needed to keep us afloat until we are on our way to BECOMING A REAL ESTATE MILLIONAIRE. And this will also give you great hands on experience in the real estate world, thus you gain knowledge of an industry you have pretty much only just discovered.
Anita
******************************************
TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"
Lots of good ideas, Anita. Thank you.
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
* REO Repo Cleanup
Some construction firms now.. are doing NOTHING BUT this...
so that tells you right there that there is money tobe made. Like I said, these are just sme ideas t help you accumulate finances while working towrd your ultimate goal.
Anita
******************************************
TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"
I wish you'd coach me!! I'm just a musician and my mind doesn't think that way. I can create music all day long, but when it comes to business ideas, I don't have a clue. Any suggestions of books or anything I can use to educate myself in this area? I could sure use some help with that. I know you're busy and all so anything you could recommend to point me in the right direction would be greatly appreciated.
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."
I think you're firing on all cylinders with possi (spelling) traction wheels. You'll make that million dollar mark sooner than you think! Thanks for the awesome post!
Smiles to you...
HEIDE
Great ideas. You might also want to add REO and investment property management. There are allot of REO properties in my area and it seems like they have so many they are having a hard time maintaining them. (cut the grass etc...)
Do not fear, for I am with you; do not be dismayed, for I am your God.I will strengthen you and help you; I will uphold you with my righteous right hand. Isaiah 41:10
http://realwholesaling.com FREE wholesaling tips and resources!
To your success,
Carol Stinson
Can someone give me a general Idea of how to charge for this.Is it hourly, based on the size of the home etc.
Thanks
Tina
"Then it shall be,when you enter the land which the Lord your God gives you as an inheritance,and you possess it and live in it" Deuteronomy 26:1
My husband and I have a home remodeling co. and we charge a base fee of $350.00 just to enter the property then $30.00 and hour after that unless we have to bring in extra people to help then we must charge for their hourly pay as well. This does not include dumpster fees which can run from $500.00 to $700.00 depending on the size of the dumpster. Dumpsters are only needed for large clean outs.
Do not fear, for I am with you; do not be dismayed, for I am your God.I will strengthen you and help you; I will uphold you with my righteous right hand. Isaiah 41:10
http://realwholesaling.com FREE wholesaling tips and resources!
To your success,
Carol Stinson
I am so interested in this part of the business, How do you get started?
Erika, REI
Brownstone Investment Group
405.748.0734
www.facebook.com/Erika.Coleman
www.twitter.com/brownstoneREIgr
Job 22:21 Submit to God, and you will have peace; then things will go well for you.
Job 22:28 You will succeed in whatever you choose to do, and light will shine on the road ahead of you.
Deut 28:8 The Lord will guarantee a blessing on everything yo do and will fill your storehouses with grain. The Lord you God will bless you in the land he is giving you.
You can start by using something like craigs list and postin under services offered. Then look under real estate services and post there
Anita
******************************************
TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"
Girl you are always so full of information, knowledge, and wisdom. Thanks a bunch. Going to get on that immed.
Erika, REI
Brownstone Investment Group
405.748.0734
www.facebook.com/Erika.Coleman
www.twitter.com/brownstoneREIgr
Job 22:21 Submit to God, and you will have peace; then things will go well for you.
Job 22:28 You will succeed in whatever you choose to do, and light will shine on the road ahead of you.
Deut 28:8 The Lord will guarantee a blessing on everything yo do and will fill your storehouses with grain. The Lord you God will bless you in the land he is giving you.
Hey everyone,
I'm not sure if this meets the certain "threads" that are acceptable for this blog forum so I appologize if it does not. I hear see many people writing about creating a buyers list, locking in contracts/deals, being the middle man, so and and so forth.. Now when doing so, say for instance, I find a great investement property, but have no money to purchase it. Well I decide to find an invester for that property.. Can you clarify what "locking in the deal" would be? Once the deal is locked in, do the majority of people rehab the house before they turn it over to the invester, or are you getting paid the finders fee just for finding the property and letting the invester take care of the rhab?
How do you take control of a contract and sign it over to the invester (again, locking in the deal) when you havent bought the house? Sorry guys, just really new at this. I would appreciate any feedback!
Thanks everyone,
Cory
I have learnt so much in the seven days I have read your posts. Dean should be paying you commission for all the information you give to investors! Why don't you open your own Real Estate Consulting School?
You go girl!!
Sam
Thank you Sam.....but I thnik I will just remain doing what I do, I think dean has enough good people working for him already (smile)
But i hope to see more of you on te boards
Anita
******************************************
TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"
Thanks for the great post Anita! Been thinking recently about a rent to own business but want to start out with low risks. Would like to do lease options and then sub-lease option to my tenent/buyers. The big question is how to do the closing in the end? I ran this by a lawyer but she thinks it would be a licensing issue, waiting for her reply! Any suggestions would be appreciated!
ASCE59
"ON MY WAY"
I happen to make a very good living do JUST THAT!
Anita
******************************************
TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"
Anita, when your tenent/buyer is ready to exercise thier option, and you exercise your option, is it done at the same time? How do I close the deal without it being a license issue? Any help would be appreciated!
ASCE59
"ON MY WAY"
These Ideas sound like I have heard them some where before. I think form Bryan Wittenmyer who has been investing in real estate for the last 15 yrs and he is part of the reiclub.com as I was reading I was thinking Man! does these ideas sound like I have either read this post before or actually spoke with someone about different ways of making money in Real Estate. I do speak and network with alot of people so I was kinda unsure but as I got to checking in my emails I realized that I had recieved an article from this guy with the same words verbatim... The ideas are very very creative and we ALL know we can ALL use some extra income in this day in age.
I posted this as a part of my own personal experience with my son and I actually references the site where I found such great ideas. Butthank you for putting a name with the quoted text.
Anita
******************************************
TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"
How do you figure out what to charge the banks for REO clean up? I have been mulling this idea around looking for other ways to stay involved in real estate (while building my RE fortune) without working the traditional J O B!
Kimmy
I got a base quote by calling around to construction companies that did after construction clean up and asking them what they charge. Then after getting about 5 quotes I averaged them together and got a price then I dropped it by 10% and submitted my offer to the bans for clean up and undecut the competion by 8-10% on average. Needless to say business has been great...lol.
I even subcontracted some of the jobs to some of the contractors that I won the contracts over.
Anita
******************************************
TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"
YOU are a woman after my own heart! You have such outside the box thinking. I'm reading a book called "Supernatural Business" and one of the author's examples falls along the same lines that you did. Thanks for the reply and I am so happy that you are back posting again.
KimmyJ
Hi Anita,
I am very new, like new I just signed up on the site in the last couple of days after a recommendation from a friend. I will eventualy start doing my own deals. The clean up is intriguing. I have a full time job so where do you receive your customers from and do you sub all the work out?
P. S. I have been reading your posts and teh information is tremendous.
Rich
Hi Rich:
I sub the work out to small contractors and others that I know do good work and rates are reasonable
Anita
******************************************
TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"
Anita,What a great idea and how creative.I can see following you around these sites is a good way to stay updated on issue's
This was brought to mind recently when my son decided he and his friends needed some summer work to help support their very expensive hobby (future careers) of BMX Free-styling (trick bike riding).
You see, I had been paying the group of them, about 7 teenage boys, to clean up the houses I have been getting. So after a long brainstorming session we came up with quite a few things they could do to earn money, but the common denominator in most of them was real estate. As I posted an ad for REO house cleaning and property clean up. Over the weekend I just had 3 lenders call to get more info on the services.
"The beauty of real estate as a field and industry is that there are so many different way to make a living from it. The rental business is a great foundational platform to launch other ancillary services and profit centers. Your existing housing business (rentals) make an excellent platform from which to launch a parallel business opportunity.
For instance. Suppose you want to make a go at full-time real estate, but the properties you currently own just aren't enough to make a full-time go at it. Couldn't you easily provide your superb services of rental preparation and perhaps maintenance skills to other investors? Yes, you could. By marketing yourself cleverly as a rental preparation expert you can save other investors a lot of money and provide a complimentary income stream for yourself.
From here you could expand into additional services like:
* Land Trust Trustee Services
* REO Repo Cleanup
* New Construction Cleanup
* Eviction Services
* Monthly Maintenance/Service Contracts
* Consulting
* Winterizing and Property Security
* Services on vacant units, etc.
Suppose, you're not the hands-on type, couldn't you start a home-based mortgage brokering business. If you're a detail, paperwork type of person there's substantial money to be made here. Perhaps, getting into so-called "bad paper" or judgment recovery is another option.
Let's not forget professional title searching. Again, you can get started in this business working from both home and from the courthouse, therefore, not needing an office. While this is more like buying a job, you can take this valuable skill and begin to either buy bad paper for literally pennies on the dollar and recast it or buy distressed properties loaded with junk liens and with your title expertise effectively--de-lien the title (certain liens will expire), thereby letting time clean the title.
Let's not forget buying and selling properties. The two biggest opportunities here are the Rent-to-Own / Installment Sales house business. Or the wholesaling game. Right now the wholesale game is looking great because the investment markets are flooded by burned out stock investors. These folks want good investments. As a wholesaler you tie up the deals and let others close in your place. The profits are smaller, but it's faster and cleaner.
The rent-to-own house business is another great opportunity because you as a professional buyer set up base financing with the seller and then resell with your own custom credit package, also know as lease-purchase, land contract, or RTO. There are thousands, no make that, tens of thousands of folks who need your custom credit deals to get into a house. Best of all, most of these properties can be sold in some sort of fixer upper condition as long as the major mechanical problems are fixed. Get ten or twenty installment deals going and you'll see how good this can be.
Do you consider yourself somewhat of a marketing expert. Why not start a real estate marketing consulting practice where you help licensed agents, private investors and brokers market their own business? A real estate marketing specialist.
There are literally dozens and dozens of small business opportunities that you can start with minimal cash investments. Find something that interests you and get started building another income stream into your business. If you are in the rental business look for rental-related services you possibly could add to your business mix. For instance, if you just rent houses, consider buying or building basic garages. There's good potential offering low-cost storage space. Did you know you can buy distressed city lots for $500 at tax sale? Then for another $3,000 you can put up a basic cement block garage. You can typically rent these out for between $75-200 per month! Not a bad ROI.
There are countless opportunities with land, mobile homes, paper, sales careers, property management, maintenance, consulting, furnished room and apartment rentals, investor services, and much more. Open your mind to the idea of adding a new twis t or service to the business you already have!www.armhousing.com"
Not to take anything away from buying and selling but sometimes we need other ways to generate the cash flow needed to keep us afloat until we are on our way to BECOMING A REAL ESTATE MILLIONAIRE. And this will also give you great hands on experience in the real estate world, thus you gain knowledge of an industry you have pretty much only just discovered.
Hola como estas Creative Artistic open minded
Real estate (Cat) Anitarny * loved what you stated
I am brand new here and brand new to all this beyond fantastic rojo caliente energy vibs are great here* gracias for the info (Knowledge)
STICKS WIZZARD DRAGON the ENCHANTMENT OF SPIRITUAL ARTISTIC PASSION
What all do you do to the properties for the REO Cleanup.
Is it just hauling away the trash or is there other things to do as well?
Tony Barnes - Barnes Investment Properties
http://blog.barnesip.com
http://www.barnesip.com
Follow My Journey to Real Estate Success!
http://www.deangraziosi.com/real-estate-forums/investing-journals/20720/...
Hi Anita,
This sounds like a great idea! I am definitely going to look into some of these suggestions.
Thanks
Hi Anita
It's Anita;
That was just an awesome article. No reason not to be a millionaire just based on those ideas!
Thanx!
Best Regards,
Anita
(Licensed Realtor-Military Vet-9/11Vet)
****
A self-directed realization for 2014 is to:
Live life as if always on vacation and have all the good health, time, & wealth to enjoy it.
Work, only when and IF desired. Helping others do the same. It Pay$ To Connect!
Always In Gratitude.....
some evidence of this type of idea in a BIG way, haven't you?
This is one of those ideas that causes you to think, "Why didn't I think of that?"
I have noticed this both in a magazine on successful businesses and also have seen it on a show called "Hoarders" the big blue trucks with an 800 number on it entitled, "Got Junk?"
Know what I mean?
They clean out and haul junk away from anywhere - but in THIS instance (of this thread) it would be from houses that have had stuff left in them.
Hey, anyone with a truck or trailer could get started doing this IF they are willing to do the work.
As always, GREAT JOB, ANITA!
Mike
"Make it an AWESOME day! (Who else is going to do it for you?)" - Mike Spillman
"As long as there is breath there is hope!" - Mike Spillman