Monthly Archives: April 2010
by Julie Broad
In some ways I fear this could be a farewell message …
For nearly two years I have been lazy and scared … I first set my blog up on wordpress not knowing anything about blogs and ever since then I have allowed wordpress to host this blog. But, I am missing out on so many things like a simple blogroll or even statistics about the clicks and visitors to my blog by not hosting the blog with my own host. And so many readers have requested a Retweet button for Twitter or other easy ways to share their favourite posts with others and I can’t do that with the program the way it is today. So on this 4 Year Anniversary of our Rev N You Newsletter I decided it’s time we finally got brave and made the move … but I still worry that it will all be gone after I push the button …
Many of my fellow bloggers have assured me that it will be ok when I make the switch. If it doesn’t work out you will find me over at Good Faith Investing causing a ruckus because it’s really Shae that has assured me the most that it will be ok. Although Greg at The Wholesale Knockout King made it sound easy too so I might be on his blog making angry noises too.
But assuming all goes well and you’re still able to read this I wanted to share some of the other things I’ve written lately.
I welcome your comments, questions and concerns right here or on the host blogs.
Also … I am pretty excited about the calendar of events I have lined up for the month of May so I wanted to share that with you too. But first, a few of the other places you can find me this month:
A simple message about success I shared with the Bigger Pockets readers … and if you’re a Salt N Pepa or Hip Hop music fan I think you’ll really like it.
An important message about marketing and real estate investing that I shared with the readers of Mark Loeffler’s blog The Versatile Investor. Mark’s most recent claim to fame is a writing one of the current Top 100 Best Selling Business Books “Rent To Own Real Estate Investing”.
The story of Dave’s early investments in Niagara Falls, ON as we both learned some really important real estate investing lessons.
Also … if you’re in Canada … check out my latest article in Canadian Real Estate Magazine. I’m pretty proud of the article that was published there this month called: Managing Your Property Manager. I wish they had links to their articles but alas … you’ll have to hit the newstands to read it. It’s on page 48.
I also wanted to share a public and gigantic Thank You to fellow real estate investor and blogger Neil Uttamsingh of First Rental Property. When I first started writing for Bigger Pockets he wrote a really awesome blog post about my inclusion in the Bigger Pockets team … and coming from one of the only Canadian real estate investing blogs that has a place in my RSS feed it meant a lot to me!! So thank you Neil!! Read that post here: Bigger Pockets Just Got Bigger.
There’s lots more stuff kicking around the internet from me these days but I figure that’s probably enough to keep you guys busy for the weekend. 🙂
Now … mark your calendars because we have a great line up of events planned and all but one of them are free to you!!
- May 4th: I’m speaking at the Nanaimo Real Estate Investing Club about farming for real estate leads … I’ll be talking about our yellow letter campaign, our bus bench ads and some of the other marketing we’re doing to generate new real estate deal leads. Anyone can attend. It’s $10 at the door.
- May 5th: We’re having a teleseminar with Philip McKernan, author of South of 49. If you’re a Canadian interested in buying real estate in the US then this is going to be a call you won’t want to miss. And honestly, having read Philip’s book, I know there will be gold nuggets ALL real estate investors can use. And the call is our gift to you … so watch the blog and our newsletter for more details.
- May 19th: Government Deal Funding with Sean Carpenter. This webinar is for our US readers. One of THE most recommended programs and webinars I have ever come across … Sean’s program fills a massive void in the market right now as he is teaching how to use government programs to fund your real estate deals. In this webinar Sean reveals some of the ways you can uncover government funding programs that are available to you and introduce you to tax credits and developers fees and so much more.
- June 1st: We’re going to be chatting with Jim Sheils and Brian Scrone of Jacksonville Real Estate Wealth. These two guys have quickly become two of my favourite real estate investors in North America and I can’t wait to introduce Rev N You readers to them and to their simple but effective investing systems.
We’ll have more details and sign up information on all the events right here in the coming weeks … and, of course, from our real estate investing newsletter!!
All right … wish me luck … hope you’re still able to read this message by the end of today!! 😀
by Dave Peniuk
As part of our 31 Real Estate Investing Videos series I put together this short little video on 3 real estate investing calculations you gotta know!! These are calculations I see plenty of realtors, real estate investors and media reporters getting wrong… and yet, they are critical to know and understand.
In case you haven’t signed up for our series (WHY HAVEN’T YOU?!! – It’s 31 FREE videos jam packed with some of our best tips & resources!) … or you missed this video … here it is:
What are some of the real e state investing calculations YOU use? Let us know in the comments below!
We consider ourselves environmentally aware. For years we’ve been putting in CFL lightbulbs, replacing water hogging toilets with low flush versions, buying high efficiency furnaces and using non-toxic paint. Most of these choices make sense for the environment and for our bottom line … but we’ve never actually written about it at Rev N You. So when Steve emailed with this article we jumped at the chance to share this information with you guys!! In this post you’re going to learn some really great ideas to consider if you’re renovating a rental property or even doing a flipper in order to maximize the rental value or resale value. Let us know what you think!
In a tough real estate market, you need every possible incentive for someone to buy (or rent) your home, rather than another comparable home on the market. How can you create that advantage for your home over the other houses in your price range? Try some green home remodeling and home renovations.
Reports from housing markets all over North America indicate that green homes sell more quickly than those without energy-saving or water-saving benefits. The reason is easy to understand. The cost of living in these homes is lower for the buyer or tenant.
But there is a more subtle reason as well. Almost everyone wants to feel that they are doing something good for the environment. Living in a home with green lifestyle features satisfies that want and gives the buyer or renter an emotional reason to choose your home in addition to a financial one. Since virtually all purchases, especially homes, have an emotional trigger as well as a logical one, offering a home with green benefits is a sure-fire way to make your home stand out. This is especially true in a tough, competitive real estate market.
So, how can you differentiate your house as a greener alternative? Here are some easy-to-implement suggestions, which will also give you benefits that you can include in your promotional materials.
- Make sure you can promote the advantages of energy efficiency in your sales flyer. There are a lot of ways to improve the energy efficiency of your home. For example, replace any older appliances with Energy Star appliances that use less energy. The benefits in lower utility bills will be a plus for the buyer or renter.
- Wrap your water tank with insulation to reduce heat loss. You can buy all the insulation you need for about $20 or less. This one is inexpensive and easy.
- Seal drafts around windows and doors with weather stripping or caulk, and mention that this has been done in your promotional materials. Adding some insulation to the attic is also an inexpensive way to improve energy efficiency.
- Install compact fluorescent bulbs (CFLs) everywhere. Lighting accounts for about 10-20% of average home energy use, and CFLs use 75% less energy than standard incandescent bulbs and last up to 10 times longer. The out-of-pocket cost is minimal when you consider the value to your home, and CFLs are another benefit that will save the new occupant money. Make sure you mention this advantage in your promotional materials.
- Consider bamboo if you are putting in new flooring. Bamboo wears as well as hardwoods, has a beautiful appearance, and has the advantage of being widely recognized as a green building material.
- Use low VOC paints (VOC is an abbreviation for Volatile Organic Compounds, which are unpleasant to be around at best, and toxic at worst). Be sure to mention that they were used. Low VOC paints will reassure buyers who are health conscious.
- Solar panels are a huge selling point, and rebates and tax credits are offered as an incentive to defray the high up-front cost. The up front cost is still not trivial, however, and installation can take up to 3-4 months, including the planning and permitting. If you have time, solar panels are worth considering. If you are in a hurry to get your house on the market, this may not be a viable option.
- If installing solar panels is too costly or time-consuming to consider, a solar water heater may be a quicker, more cost-effective solution. Since about 15% of the typical home energy bill goes toward heating water, the savings for the new buyer will be meaningful, as well as a selling point for you.
Green remodeling is a great way to make your home stand above the others in a competitive marketplace. Green upgrades and features give your buyer both a financial incentive to consider your home and an emotional reason to desire owning your home. The latter may prove to be even more important.
Steve Stillwater promotes healthy, green lifestyles, with easy-to-implement ideas to use less energy and conserve resources. Living a greener lifestyle is a way of life for Steve, and he hopes that it will become a way of life for you as well. He writes regularly about practical tips and ideas for developing a green lifestyle at http://www.LivingGreenandSavingEnergy.comImage Credit: © Norebbo | Dreamstime.com
by Dave Peniuk
Julie and I recently had the opportunity to attend Tony and Jo-Ann Peters: Creative Real Estate Investing Power Workshop….yes, that’s a mouthful, but for good reason! It was jam-packed with great strategies, advice, tips, resources, and a ton of great real examples! In this post, I am going to discuss just 2 of the many strategies one can use on the creative side of real estate investing.
2 of my favourite creative real estate tips: Long Closings and Free Stuff
While I had heard of both of these creative strategies from other real estate teachers/educators before, I really liked how Tony and Jo-Ann emphasized the win-win approach to using these strategies. Long Closings, for example, is based on the premise that you tie up a property that’s for sale but the Seller’s, for whatever reason, do not (or cannot) close and move out of the property for 6, 7, 8+ months.
My personal favourite and one that we have encountered quite a few times already through calls we have received from our yellow letter campaign, is where the Seller is currently building a new house but residing in the house they want to sell. Rather than sell it and move into a rental for 6-12 months, you suggest they reside in their home until they are ready to move into the new one they are building.
So, why do this as a Buyer? First, it gives you time to find either a Tenant (as a rental) or Tenant-Buyer (on a lease to own), flip it to another investor or even sell it to a new Buyer. It also gives you time to line up joint venture partners and financing if that is the route you are going to. And, the BIG bonus of a long closing is IF it’s in a warm (or even better – a HOT) market, the property may appreciate 5-10% or more during that time! Guess who gets the equity? You do! But, this generally works best in an appreciating market. If the market is flat or even worse, falling, then you could be stuck with a property that is now worth less than what you agreed to pay 9 months ago! So, make sure you do this ONLY in a market that is seeing appreciation!
Who doesn’t love free stuff? I tell you, if I could make a nickel every time I gave away free stuff (yes, then it wouldn’t be free would it? but you get the point!), I would be as rich as Donald Trump!
Basically this strategy is simply asking for something that you may want that is at the Seller’s house/property. For instance, perhaps the Sellers has a nice collector car, RV, motorcycle, or even lawn mower at their house. Why not ask for it as part of the purchase? If you can find out why the individual is selling (and where they are moving to – maybe they are downsizing into a condo?), then they likely may not need or want a lawn mower or even their nice collector car.
Sometimes there is even nice furniture that a Builder may have paid for to stage their showhome! Ask for it! We just did that very thing recently when negotiating with a Builder who needs to sell. We asked for the furniture and the Sales Agent said it likely will go. Remember, you won’t get if you don’t ask!
WHY would a Seller agree to a Long Closing or give you Free Stuff?
Again, it could be for any number of reasons. If they are building a house and the bank will only finance the construction if they sell (or have a firm Purchase and Sale Agreement in place) their current house – BINGO – this is an opportunity for the Seller to know their house will sell, the bank will finance the construction of their new house, AND they can continue to live in their current home (that they’re selling) without disrupting the family to move into a rental and then move again once the new house is built! See, win-win!
And including Free Stuff in the sale of their home can be a great win for the Seller too. For instance, as I mentioned if the Sellers are downsizing and don’t want to deal with doing a garage sale or fool around with placing ads to sell their car, motorcycle, shed, lawn mower, etc., then this is an easy alternative for them. There can, again, be any number of reasons why someone would give away Free Stuff, but they likely won’t UNLESS YOU ASK!!
So, a couple of great strategies that we “re-learned” while attending Tony and Jo-Ann Peters: Creative Real Estate Investing Power Workshop.
Remember, real estate investing can be fun and creative…not just buy, rent, sell, buy, rent, sell. If you have any other creative/interesting tips or strategies, please comment!