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Getting Started in Real Estate With Little or No Money

By Andrew John Cocks | Check Real Estate

Getting Started in Real Estate With Little or No Money

Article by Attorney William Bronchick

You’ve seen the late-night infomercials with self-anointed gurus promising you millions in real estate profits with no money down. The truth is that many of these charlatans never made a dime in real estate, but instead built their fortunes through selling over-priced or useless information to unsophisticated investors suffering from insomnia.

Most of us are smart enough to realize that no real estate “system” is foolproof, and if anything seems too be good to be true, it probably is. However, that doesn’t mean that you need excellent credit and a surplus of cash to get started in real estate. Here are some strategies for financially-constrained aspiring investors to begin generating real estate cash flow.

You Don’t Have to Own a Property to Make Money From It – Be a Dealer

There are two types of quick-sale real estate investors – retailers and dealers. Retailers buy properties outright and sell them for a quick profit. Their risk is highest, but so is their potential reward. Contrary to the late-night realty televangelists, retailers typically need substantial cash for a down payment, and at least decent credit.

Dealers, by contrast, buy and sell contracts, not properties. They find bargain properties and sign purchase contracts with their sellers. Dealers then sell these purchase contracts to retailers, making a solid profit in the process. This is known as “assignment of contract.” Usually, the only cash required is the earnest money to secure the deal. A good dealer can then flip the contract for a quick $ 1,000 to $ 3,000 without ever taking possession of the deed.

Use a Double Closing for Greater Profit Potential

A double closing allows a dealer to earn a higher profit margin than an assignment of contract. With an assignment of contract, there is always potential that the deal will ultimately fall through. The dealer is protected in this case because she has already received her proceeds from the sale of the contract, but the retailer who buys the contract from her is wary of the deal falling through, and thus, will factor it into the price he is willing to pay. With a double closing, the dealer assumes more risk, because if the deal falls through, she receives nothing. However, with this greater risk comes a greater reward.

A double closing begins with the dealer signing a purchase contract with the property owner. Then the dealer signs a contract with the retailer, in which the retailer agrees to buy the property from the dealer at a higher price, and deposits that amount in escrow. The property owner signs the deed to the dealer, who then signs it to the retailer. The retailer then signs the loan documents, and the process is complete – the property owner is paid his asking price, and the dealer is paid the difference. Note that the dealer came to the table with no money, and her credit was never an issue.

Be a Scout – No Cash or Credit Required

In addition to dealers and retailers, scouts are a third type of real estate “flipper.” Instead of flipping actual properties or contracts, scouts flip information.

Scouts face even less risk than dealers, and have almost no cash or credit concerns. They simply gather information about distressed properties and sell it to interested dealers and retailers. In effect, scouts do the dirty work for real estate investors, and investors are willing to pay them handsomely for doing it. Typically a scout will gather the following data on a potential deal: The owner’s name and contact information, the asking price, information about the mortgage and whether payments are current, outstanding liens on the property, a photograph of the house, and pertinent information about the owner’s motivation to sell – i.e. is he in the middle of a divorce, foreclosure, job transfer, etc.

Investors typically pay scouts between $ 500 and $ 1,000 for good information, but what happens if an investor doesn’t pay? Simple – don’t take any more deals to them. Successful investors realize the value of good information, and they are more than willing to pay for it.

Take Over the Seller’s Mortgage Payments

Prior to 1989, almost all home loans were freely assumable. This meant that anyone could take over the payment of the loans without objection from the lender. However, due to a climate of rising interest rates that began in the late eighties, virtually all home loans issued since then contain a “due-on-sale” clause. This means that when ownership of a property is transferred, the lender can demand payment, in-full, of the outstanding loan.

However, “due-on-sale” is merely a clause – not a law. It is the lender’s prerogative as to whether or not this clause is exercised. If you buy a property and take over the loan payments, there is a distinct possibility that the lender won’t even notice. There’s an even greater chance that the lender will choose not to exercise the due-on-sale clause, so long as you make timely payments. After all, the cost of enforcing the clause is significant, and as long as the lender is being paid, it is unlikely to care who signs the monthly checks. Armed with this knowledge, you can potentially buy properties without a credit check.

Real Estate Success Always Requires an Investment

There are ways to profit from real estate without significant financial investment, however, that is not to say that success comes free and easy. At the very least, you will need to make a substantial investment in yourself. In order to succeed, you must be willing to work hard. Even with a million dollar real estate portfolio, your brain will always be your #1 asset. Be sure to invest in your education on a daily basis, and learn as much as possible about your local market, real estate law, and investment strategies.

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Written exclusively for by Attorney William Bronchick, Certified Registered Nationally-known attorney, Author, Entrepreneur and Speaker.

Written exclusively for by Attorney William Bronchick, Certified Registered Nationally-known attorney, Author, Entrepreneur and Speaker.

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Check Out Finland Real Estate

By Andrew John Cocks | Check Real Estate

Check Out Finland Real Estate


Finland real estate has seen one of the most stellar performances as far as housing market is concerned in Europe. Even among the international real estate market, Finland is looking at one of the best performances in the real estate market since the slump in Europe and the rest of the world.

The real estate in Finland is great for the buyers, since it is quite a simple procedure for buying in Finland. The costs for buying real estate in Finland are really low as compared to other countries in Europe. Helsinki is a major city as well as being the capital of the country. Even though Finland is known as the land of the Midnight Sun, Santa Claus and Reindeers, it is one of the most advanced and industrialized countries in the world especially in the field of telecommunications. It is also ranked as among the first 20 countries in the Human Development Index of United nations. In 2006, it was ranked as 11th most livable country in the world.

This year the Finnish real estate especially has seen double digit figure growth at 11.2% in 2010 first quarter as compared with 2009 first quarter. This has been the best performance for the real estate in Finland in over a decade. The prices have even risen higher in Helsinki by more than 15% this year from the previous year. For the older dwellings and block of flats the average price for the Finland real estate for sale is 2071 Euros per square meter. While in the area known as greater Helsinki, the rise is spectacular and the average price for these dwellings is 2169 Euros.

Not only have the prices for the older dwelling and blocks of flats increased, the price rise for the newer block of flats has also increased appreciably. The price increase is not as high as the older dwellings. But depending on the Finland real estate location, the pieces for the new dwellings has increased anywhere from 8.5% to 14.7% since the previous year. Even though the international real estate for sale for really down in 2008 and 2009, real estate in Finland started to show recovery in the last year itself.

The recovery of the real estate in Finland was due to the way that the government handled the economic crisis and economic recession. Partly the economy has been helped by the strong exports that Finland has done over the past year. For those that are looking at international rentals, Finland isn’t really the place to invest since it has an extremely high income tax on rents. The rental yields are also quite low all over the country and especially in Helsinki. The average rental yield for the country is 4.42%. Since the buying and transaction costs are extremely low, international investors look forward to the properties here. The costs vary from 8.6% to 9.8%. Also the property can be transferred in really a short time of 14 days.



International Real Estate Listings is the worldwide leader in Finland real estate for sale, Finland real estate exchanges, and Finland rentals. Finland real estate owners, agents, and developers are encouraged to create an account, upload an unlimited number of listings, write as much creative property details, include a You Tube property video, and it will be activated as a basic listing for 6 months, free.


Ways to Check Real Estates

By Andrew John Cocks | Check Real Estate

Ways to Check Real Estates

If you are too busy to find a new home or an absolutely furnished condo that will suit your tastes and also too busy to visit the site that the broker is providing you. Well, this is not a problem anymore because real estate industry stepped another level in giving their customers the mobility required for a genuine estate tour.

Online Tour could be the latest craze in the real estate investment industry that utilizes videos and not simply images or texts that a lot of leaflets or a web site that your agents used presenting the condominium available for purchase or an estate for sale.

More than texts that makes clear what the condotel will offer or something that explains each nook and crook of the condo for sale, videos can provide a wide range of viewpoint that it can covers, unlike the pictures that illustrates only the nice attributes and sights of that high rise condominiums.

Moreover, it provides a lot better chance to offer your potential purchaser the sensation of a real tour, including its very practical and also it lessens any time needed for a tour.

An online video trip is targeted on every part of the house. From the garden, patio, doorway, dining and cooking area, and recreation area, up to every area. Windows and staircase, the rest room, in fact everything that covers the internal and external of the house.

Therefore, as a result of using this online tour, the agent who would provide this solution can offer increased benefits in bagging legal contract. How, by simply importing these videos on social networks such as myspace, twitter, face book or maybe friendster if you’ve still got an account, increase your link and you will be surprise on the potential buyers that would get in touch with you for more information.

Well in any case, whilst this can be a most good method to have a tour, there are nonetheless quite a few who recognizes the standard of visiting the area and check out everything first hand.

Yet another negative aspect is that video clips might get uninteresting and the truth that you can’t add any flash design and style on the video may also participate in a significant component.

Another aspect to be regarded is the house itself; notice those house versions that are pictured in advertisements and billboards, the ones that are widely-used in a certain novel or book, also those utilized in certain television or video series. Most likely, customers would try to find something that would complement those model units. Well anyway, it not about where it absolutely was included, it’s in relation to obtaining suitable person who watch your video and everything certainly will follow.

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